SCHEDULE 13G: Jane Street Group Discloses 5.0% Stake in Applied Digital Corp.

Jane Street Group, LLC and its affiliates have reported a beneficial ownership of 5.0% in Applied Digital Corp., including common stock and warrants, as of June 10, 2025.

Summary

• Jane Street Group, LLC, along with its affiliates Jane Street Capital, LLC, Jane Street Options, LLC, and Jane Street Global Trading, LLC, has filed a Schedule 13G with the SEC.
• The filing discloses their beneficial ownership in Applied Digital Corp.'s common stock, par value $0.001 per share (CUSIP: 038169207).
• As of June 10, 2025, Jane Street Group, LLC beneficially owns an aggregate of 11,616,116 shares, representing 5.0% of Applied Digital Corp.'s common stock.
• This aggregate ownership includes 6,531,260 warrants.
• The percentage ownership calculation for Jane Street Group, LLC and Jane Street Global Trading, LLC is based on 231,601,740 shares outstanding, which accounts for 225,070,480 shares outstanding as of May 30, 2025, plus dilution from the warrants held.
• Individually, Jane Street Capital, LLC beneficially owns 118,256 shares (0.1%), Jane Street Options, LLC beneficially owns 4,966,600 shares (2.2%), and Jane Street Global Trading, LLC beneficially owns 6,531,260 shares (2.8%), which includes 6,531,260 warrants.
• The reporting persons certify that the securities were not acquired and are not held for the purpose of changing or influencing the control of Applied Digital Corp.

Sentiment

Score: 5

Explanation: The filing is a neutral, factual disclosure of beneficial ownership, indicating a significant institutional stake without providing positive or negative operational insights about the issuer.

Positives

• A significant institutional investor, Jane Street Group, has taken a 5.0% stake in Applied Digital Corp., which could be viewed as a vote of confidence in the company's prospects.
• The stake includes warrants, indicating a potential long-term interest or a specific trading strategy involving future equity conversion.

Risks

• The filing itself does not detail risks related to Applied Digital Corp.'s business operations. It only states the ownership position of Jane Street Group.
• For Jane Street Group, the primary risk is associated with the market performance and value fluctuations of Applied Digital Corp.'s stock.

Future Outlook

NA

Industry Context

This Schedule 13G filing indicates a significant institutional investment in Applied Digital Corp., a company operating in the digital infrastructure sector. While the filing itself does not provide industry-specific analysis, the acquisition of a 5.0% stake by a prominent trading firm like Jane Street Group suggests their assessment of the company's potential within its market, which often involves data centers, high-performance computing, or blockchain infrastructure.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake by Jane Street Group could be perceived positively, potentially increasing investor confidence or signaling institutional interest.
• Company Management: Awareness of a new 5% beneficial owner may influence strategic considerations, though the filing explicitly states the stake is not for control.

Key Dates

Keywords

Applied Digital Corp, Jane Street Group, Schedule 13G, beneficial ownership, common stock, warrants, institutional investment, SEC filing