Magnetar Financial Reduces Conagra Brands Holdings

Hedge fund lowers stake in food company by over 70% in Q3

Mar. 13, 2026 at 10:05am

Got story updates? Submit your updates here. ›

Magnetar Financial LLC, a Chicago-based hedge fund, lowered its holdings in Conagra Brands (NYSE: CAG) by 71.1% during the third quarter of 2026, according to a recent SEC filing. The firm's stake in the food company was reduced from 433,789 shares to just 125,299 shares, worth approximately $2.29 million.

Why it matters

Conagra Brands, known for brands like Birds Eye, Healthy Choice, and Orville Redenbacher's, has faced headwinds in recent quarters as consumer preferences shift. This significant reduction in holdings by Magnetar Financial suggests the hedge fund may have concerns about the company's future performance.

The details

According to the 13F filing, Magnetar Financial sold 308,490 shares of Conagra Brands during the third quarter. The firm's remaining 125,299 shares were valued at $2,294,000 at the end of the quarter. This move comes as Conagra Brands has struggled with declining sales and profitability, leading to a series of restructuring efforts and portfolio changes.

  • Magnetar Financial filed its 13F report for the third quarter of 2026 on March 13, 2026.

The players

Magnetar Financial LLC

A Chicago-based hedge fund that manages a variety of investment strategies.

Conagra Brands

A major American packaged foods company known for brands like Birds Eye, Healthy Choice, and Orville Redenbacher's.

Got photos? Submit your photos here. ›

The takeaway

Magnetar Financial's significant reduction in its Conagra Brands holdings suggests the hedge fund may have concerns about the food company's future performance and ability to navigate shifting consumer preferences. This move could signal broader challenges facing Conagra Brands as it works to adapt its portfolio and operations.