UNITED STATES
                        SECURITIES EXCHANGE COMMISSION
                            Washington, D.C. 20549

------------------------------------------------------------------------------

                                 SCHEDULE 13G

                   Under the Securities Exchange Act of 1934
                               (Amendment No. 1)

                              TRONOX INCORPORATED
                              -------------------
                               (Name of Issuer)


                Class B Common Stock, $0.01 par value per share
                -----------------------------------------------
                        (Title of Class of Securities)


                                   897051207
                                   ---------
                                (CUSIP Number)


                               December 31, 2006
                               -----------------
            (Date of Event which Requires Filing of this Statement)


Check  the  appropriate  box to  designate  the rule  pursuant  to which  this
Schedule is filed:

                               |X| Rule 13d-1(b)

                               |_| Rule 13d-1(c)

                               |_| Rule 13d-1(d)

* The  remainder  of this  cover  page  shall be  filled  out for a  reporting
person's  initial  filing on this form with  respect to the  subject  class of
securities,  and for any subsequent  amendment  containing  information  which
would alter the disclosures provided in a prior cover page.

The  information  required  in the  remainder  of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities  Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however,  see
the Notes).


                         Continued on following pages
                              Page 1 of 11 Pages
                            Exhibit Index: Page 10



                                 SCHEDULE 13G

CUSIP No.: 897051207                                         Page 2 of 11 Pages

................................................................................
1.        Names of Reporting Persons.

          I.R.S. Identification Nos. of above persons (entities only).


          MAGNETAR FINANCIAL LLC
................................................................................
2.        Check the Appropriate Box if a Member of a Group

          (a) [  ]

          (b) [  ]
................................................................................
3.        SEC Use Only
................................................................................
4.        Citizenship or Place of Organization

          Delaware
................................................................................
Number of Shares      5.       Sole Voting Power                  1,116,900
Beneficially Owned    .........................................................
by Each Reporting     6.       Shared Voting Power                None
Person With           .........................................................
                      7.       Sole Dispositive Power             1,116,900
                      .........................................................
                      8.       Shared Dispositive Power           None
................................................................................
9.        Aggregate Amount Beneficially Owned by Each Reporting Person

          1,116,900
................................................................................
10.       Check if the Aggregate Amount in Row (9) Excludes Certain Shares
          (See Instructions)

          [  ]
................................................................................
11.       Percent of Class Represented by Amount in Row (9)

          4.88% based on 22,889,431 shares outstanding as of October 31, 2006.
................................................................................
12.       Type of Reporting Person:

          IA;OO





                                 SCHEDULE 13G

CUSIP No.: 897051207                                         Page 3 of 11 Pages

................................................................................
1.        Names of Reporting Persons.

          I.R.S. Identification Nos. of above persons (entities only).


          MAGNETAR CAPITAL PARTNERS LP
................................................................................
2.        Check the Appropriate Box if a Member of a Group

          (a) [  ]

          (b) [  ]
................................................................................
3.        SEC Use Only
................................................................................
4.        Citizenship or Place of Organization

          Delaware
................................................................................
Number of Shares      5.       Sole Voting Power                  None
Beneficially Owned    .........................................................
by Each Reporting     6.       Shared Voting Power                1,116,900
Person With           .........................................................
                      7.       Sole Dispositive Power             None
                      .........................................................
                      8.       Shared Dispositive Power           1,116,900
................................................................................
9.        Aggregate Amount Beneficially Owned by Each Reporting Person

          1,116,900
................................................................................
10.       Check if the Aggregate Amount in Row (9) Excludes Certain Shares
          (See Instructions)

          [  ]
................................................................................
11.       Percent of Class Represented by Amount in Row (9)

          4.88% based on 22,889,431 shares outstanding as of October 31, 2006.
................................................................................
12.       Type of Reporting Person:

          HC;OO



                                 SCHEDULE 13G

CUSIP No.: 897051207                                         Page 4 of 11 Pages

................................................................................
1.        Names of Reporting Persons.

          I.R.S. Identification Nos. of above persons (entities only).


          SUPERNOVA MANAGEMENT LLC
................................................................................
2.        Check the Appropriate Box if a Member of a Group

          (a) [  ]

          (b) [  ]
................................................................................
3.        SEC Use Only
................................................................................
4.        Citizenship or Place of Organization

          Delaware
................................................................................
Number of Shares      5.       Sole Voting Power                  None
Beneficially Owned    .........................................................
by Each Reporting     6.       Shared Voting Power                1,116,900
Person With           .........................................................
                      7.       Sole Dispositive Power             None
                      .........................................................
                      8.       Shared Dispositive Power           1,116,900
................................................................................
9.        Aggregate Amount Beneficially Owned by Each Reporting Person

          1,116,900
................................................................................
10.       Check if the Aggregate Amount in Row (9) Excludes Certain Shares
          (See Instructions)

          [  ]
................................................................................
11.       Percent of Class Represented by Amount in Row (9)

          4.88% based on 22,889,431 shares outstanding as of October 31, 2006.
................................................................................
12.       Type of Reporting Person:

          HC;OO



                                 SCHEDULE 13G

CUSIP No.: 897051207                                         Page 5 of 11 Pages


................................................................................
1.        Names of Reporting Persons.

          I.R.S. Identification Nos. of above persons (entities only).


          ALEC N. LITOWITZ
................................................................................
2.        Check the Appropriate Box if a Member of a Group

          (a) [  ]

          (b) [  ]
................................................................................
3.        SEC Use Only
................................................................................
4.        Citizenship or Place of Organization

          United States of America
................................................................................
Number of Shares      5.       Sole Voting Power                  None
Beneficially Owned    .........................................................
by Each Reporting     6.       Shared Voting Power                1,116,900
Person With           .........................................................
                      7.       Sole Dispositive Power             None
                      .........................................................
                      8.       Shared Dispositive Power           1,116,900
................................................................................
9.        Aggregate Amount Beneficially Owned by Each Reporting Person

          1,116,900
................................................................................
10.       Check if the Aggregate Amount in Row (9) Excludes Certain Shares
          (See Instructions)

          [  ]
................................................................................
11.       Percent of Class Represented by Amount in Row (9)

          4.88% based on 22,889,431 shares outstanding as of October 31, 2006.
................................................................................
12.       Type of Reporting Person:

          HC



                                                            Page 6 of 11 Pages

Item 1(a).  Name of Issuer:

            Tronox Incorporated (the "Issuer")

Item 1(b).  Address of Issuer's Principal Executive Offices:

            123 Robert S. Kerr Avenue, Oklahoma City, OK 73102

Item 2(a).  Name of Person Filing

            This Statement is filed on behalf of each of the following persons
(collectively, the "Reporting Persons"):

            i)    Magnetar Financial LLC ("Magnetar Financial")

            ii)   Magnetar Capital Partners LP ("Magnetar Capital Partners");

            iii)  Supernova Management LLC ("Supernova Management"); and

            iv)   Alec N. Litowitz ("Mr. Litowitz").

            This Statement  relates to Shares (as defined herein) held for the
accounts of Magnetar  Capital  Master  Fund,  Ltd, a Cayman  Islands  exempted
company  ("Magnetar  Capital  Master  Fund"). Magnetar Capital Partners
serves as the sole member and parent  holding  company of Magnetar  Financial.
Magnetar Financial is a registered investment adviser under Section 203 of the
Investment  Advisers  Act of 1940,  as  amended.  Magnetar  Financial  serves as
investment adviser to Magnetar Capital Master Fund. In such  capacity,  Magnetar
Financial  exercises  voting and investment power over the Shares held for the
account  of  Magnetar  Capital  Master  Fund.   Supernova  Management  is  the
general partner of Magnetar  Capital  Partners.  The manager of  Supernova
Management is Mr. Litowitz.

Item 2(b).  Address of Principal Business Office or, if None, Residence:

            The address of the principal  business  office of each of Magnetar
Financial,  Magnetar Capital Partners,  Supernova Management, and Mr. Litowitz
is 1603 Orrington Avenue, 13th Floor, Evanston, Illinois 60201.

Item 2(c).  Citizenship:

            i)    Magnetar Financial is a Delaware limited liability company;

            ii)   Magnetar Capital Partners is a Delaware limited partnership;

            iii)  Supernova   Management  is  a  Delaware  limited   liability
                  company; and

            iv)   Mr. Litowitz is a citizen of the United States of America.



                                                            Page 7 of 11 Pages

Item 2(d).  Title of Class of Securities:

            Class A Common Stock, $0.01 par value per share (the "Shares")

Item 2(e).  CUSIP Number:

            897051207

Item 3.     If This  Statement  is Filed  Pursuant  to  ss.ss.240.13d-1(b)  or
            240.13d-2(b) or (c), Check Whether the Person Filing is a:

            (a)  [ ]   Broker or dealer  registered  under  Section  15 of the
                       Exchange Act.
            (b)  [ ]   Bank as defined in Section 3(a)(6) of the Exchange Act.
            (c)  [ ]   Insurance company as defined in Section 3(a)(19) of the
                       Exchange Act.
            (d)  [ ]   Investment  company  registered  under Section 8 of the
                       Investment Company Act.
            (e)  [X]   An   investment   adviser  in   accordance   with  Rule
                       13d-1(b)(1)(ii)(E);
            (f)  [ ]   An  employee   benefit  plan  or   endowment   fund  in
                       accordance with Rule 13d-1(b)(1)(ii)(F).
            (g)  [ ]   A  parent   holding   company  or  control   person  in
                       accordance with Rule 13d-1(b)(1)(ii)(G).
            (h)  [ ]   A savings association as defined in Section 3(b) of the
                       Federal Deposit Insurance Act.
            (i)  [ ]   A church plan that is excluded  from the  definition of
                       an investment  company  under  Section  3(c)(14) of the
                       Investment Company Act.

Item 4.     Ownership:

Item 4(a)   Amount Beneficially Owned:

            As of  February  5, 2007,  each of  Magnetar  Financial,  Magnetar
Capital  Partners,  Supernova  Management and Mr. Litowitz may be deemed to be
the beneficial  owner of the 1,116,900 Shares held for the account of Magnetar
Capital Master Fund.

Item 4(b)   Percent of Class:

            The number of Shares of which each of Magnetar Financial, Magnetar
Capital  Partners,  Supernova  Management and Mr. Litowitz may be deemed to be
the beneficial owner  constitutes  approximately  4.88% of the total number of
Shares outstanding [(based upon information provided by the Issuer in its most
recently  filed  Form  10-Q,  there  were   approximately   22,889,431  shares
outstanding as of October 31, 2006)].

Item 4(c)   Number of Shares of which such person has:

Magnetar Financial:
-------------------

(i) Sole power to vote or direct the vote:                            1,116,900

(ii) Shared power to vote or direct the vote:                                 0

(iii) Sole power to dispose or direct the disposition of:             1,116,900



                                                            Page 8 of 11 Pages

(iv) Shared power to dispose or direct the disposition of:                    0
Magnetar Capital Partners, Supernova Management, and Mr. Litowitz:

(i) Sole power to vote or direct the vote:                                    0

(ii) Shared power to vote or direct the vote:                         1,116,900

(iii) Sole power to dispose or direct the disposition of:                     0

(iv) Shared power to dispose or direct the disposition of:            1,116,900

Item 5.Ownership of Five Percent or Less of a Class:

            If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the following |X|.

Item 6.     Ownership of More than Five Percent on Behalf of Another Person:

            This Item 6 is not applicable.

Item 7.     Identification and Classification of the Subsidiary Which Acquired
            the Security Being Reported on By the Parent Holding Company:

            See disclosure in Item 2 hereof.

Item 8.     Identification and Classification of Members of the Group:

            This Item 8 is not applicable.

Item 9.     Notice of Dissolution of Group:

            This Item 9 is not applicable.

Item 10.    Certification:

            By signing below each of the Reporting  Persons certifies that, to
the best of their knowledge and belief, the securities  referred to above were
not  acquired  and are not  held for the  purpose  of or with  the  effect  of
changing or  influencing  the control of the issuer of the securities and were
not acquired and are not held in connection  with or as a  participant  in any
transaction having that purpose or effect.



                                                            Page 9 of 11 Pages

                                   SIGNATURE

      After  reasonable  inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

Date: February 14, 2007                  MAGNETAR FINANCIAL LLC

                                         By: Magnetar Capital Partners LP
                                                As Sole Member

                                     By:  /s/ Alec N. Litowitz
                                          -----------------------------
                                     Name:  Alec N. Litowitz
                                     Title: Manager  of  Supernova  Management
                                            LLC,   as   General   Partner   of
                                            Magnetar Capital Partners LP


Date: February 14, 2007                  MAGNETAR CAPITAL PARTNERS LP


                                     By:  /s/ Alec N. Litowitz
                                          -----------------------------
                                     Name:  Alec N. Litowitz
                                     Title: Manager  of  Supernova  Management
                                            LLC,   as   General   Partner   of
                                            Magnetar Capital Partners LP


Date: February 14, 2007                  SUPERNOVA MANAGEMENT LLC


                                         By:  /s/ Alec N. Litowitz
                                              --------------------
                                         Name:    Alec N. Litowitz
                                         Title:   Manager

Date: February 14, 2007                  ALEC N. LITOWITZ


                                         /s/ Alec N. Litowitz
                                         --------------------



                                                           Page 10 of 11 Pages

                                 EXHIBIT INDEX


Ex.                                                                    Page No.
---                                                                    --------

A.      Joint Filing Agreement, dated February 14, 2007 by and
        among Magnetar Financial, Magnetar Capital Partners LP,
        Supernova Management LLC, and Alec N. Litowitz.........              11



                                                           Page 11 of 11 Pages

                                   EXHIBIT A

                            JOINT FILING AGREEMENT

      The  undersigned  hereby  agree that the  statement on Schedule 13G with
respect to the Common  Stock of Tronox  Incorporated  dated as of February 14,
2007 is, and any  amendments  thereto  (including  amendments on Schedule 13D)
signed  by each of the  undersigned  shall  be,  filed on behalf of each of us
pursuant to and in accordance  with the  provisions of Rule 13d-1(k) under the
Securities Exchange Act of 1934, as amended.

Date: February 14, 2007                 MAGNETAR FINANCIAL LLC

                                        By: Magnetar Capital Partners LP
                                               As Sole Member

                                     By:  /s/ Alec N. Litowitz
                                          -----------------------------
                                     Name:  Alec N. Litowitz
                                     Title: Manager  of  Supernova  Management
                                            LLC,   as   General   Partner   of
                                            Magnetar Capital Partners LP


Date: February 14, 2007                 MAGNETAR CAPITAL PARTNERS LP


                                     By:  /s/ Alec N. Litowitz
                                          -----------------------------
                                     Name:  Alec N. Litowitz
                                     Title: Manager  of  Supernova  Management
                                            LLC,   as   General   Partner   of
                                            Magnetar Capital Partners LP


Date: February 14, 2007                 SUPERNOVA MANAGEMENT LLC


                                        By:  /s/ Alec N. Litowitz
                                             --------------------
                                        Name:    Alec N. Litowitz
                                        Title:   Manager

Date: February 14, 2007                 ALEC N. LITOWITZ


                                        /s/ Alec N. Litowitz
                                        --------------------