SCHEDULE: Jane Street Group Discloses 7% Stake in Applied Digital

Jane Street Group and its affiliates reported a beneficial ownership of 7.0% in Applied Digital Corp., including shares acquirable through warrants.

Summary

• Jane Street Group, LLC, along with its affiliates Jane Street Capital, LLC, Jane Street Options, LLC, Jane Street Global Trading, LLC, and Jane Street Singapore Pte. Ltd., collectively reported beneficial ownership of 20,743,643 shares of Applied Digital Corp. common stock.
• This aggregate amount represents 7.0% of Applied Digital Corp.'s outstanding common stock.
• The ownership calculation is based on 295,223,594 outstanding shares, which includes 279,263,526 shares outstanding as of December 3, 2025, and an additional 15,960,068 shares acquirable from warrants held by Jane Street Global Trading, LLC.
• Jane Street Group, LLC holds shared voting and dispositive power over 20,743,643 shares.
• Jane Street Global Trading, LLC specifically holds 15,962,475 shares, representing 5.4% of the class, which includes 15,960,068 shares from warrants.
• Jane Street Options, LLC holds 4,779,200 shares, representing 1.6% of the class.
• The reporting persons certified that the securities were not acquired and are not held for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive development. The acquisition of a significant stake by a reputable institutional investor like Jane Street Group typically signals a vote of confidence in the company's prospects, even if the filing itself is a passive disclosure.

Positives

• A significant institutional investor, Jane Street Group, has taken a 7.0% stake in Applied Digital Corp., signaling potential confidence in the company's long-term prospects.
• The inclusion of warrants in the reported holding indicates a potential future increase in Jane Street's direct equity stake, demonstrating a deeper commitment.

Negatives

• NA

Risks

• NA

Future Outlook

NA

Management Comments

• NA

Industry Context

StockSavvy.ai notes that the disclosure of a significant stake by a prominent trading firm like Jane Street Group in Applied Digital Corp. can be interpreted by the market as a positive signal. Jane Street is known for its sophisticated quantitative trading strategies and extensive market presence, suggesting a data-driven assessment of value in Applied Digital. This move could attract further institutional interest in Applied Digital, potentially influencing its valuation within the data center and digital infrastructure sectors.

Comparison to Industry Standards

• NA

Stakeholder Impact

• Shareholders: The presence of a large institutional investor like Jane Street Group may increase investor confidence and potentially lead to greater liquidity and stability in the stock.
• Company Management: A significant institutional holder may bring increased scrutiny or engagement, though Jane Street has declared a passive investment intent.

Next Steps

• Jane Street Group and its affiliates will be required to file an amendment to this Schedule 13G if their beneficial ownership percentage changes significantly (e.g., increases or decreases by more than 1% of the class) or if their investment intent changes from passive to active.

Key Dates

Recommendation

The disclosure of a 7.0% beneficial ownership by Jane Street Group, a sophisticated institutional investor, in Applied Digital Corp. is generally a positive signal, indicating that a major player sees value in the company. While this filing alone does not provide enough fundamental information to issue a 'buy' or 'sell' recommendation, the institutional interest suggests a 'hold' position is warranted for existing investors, and potential investors should conduct further due diligence, considering this as a positive data point.

Keywords

Applied Digital Corp, Jane Street Group, Beneficial Ownership, Schedule 13G, Institutional Investor, Common Stock, Warrants, Equity Stake