SCHEDULE: Jane Street Group Discloses 6.4% Stake in IREN Ltd

Jane Street Group, LLC and its affiliates have disclosed a 6.4% beneficial ownership stake in IREN Ltd, totaling 17,465,660.17 ordinary shares.

Summary

• Jane Street Group, LLC, along with its affiliates Jane Street Capital, LLC, Jane Street Options, LLC, and Jane Street Global Trading, LLC, reported beneficial ownership of 17,465,660.17 ordinary shares of IREN Ltd.
• This aggregate holding represents 6.4% of IREN Ltd's ordinary shares outstanding.
• The reported holding includes 20,822.17 shares currently acquirable through holdings of convertible bonds by Jane Street Capital, LLC.
• The total outstanding shares used for calculation are 272,001,316, comprising 271,980,494 shares outstanding as of August 31, 2025, and the 20,822.17 convertible shares.
• Jane Street Group, LLC holds 17,465,660.17 shares, representing 6.4% of the class.
• Jane Street Capital, LLC holds 39,644.17 shares, representing 0.0% of the class.
• Jane Street Options, LLC holds 11,301,161.00 shares, representing 4.2% of the class.
• Jane Street Global Trading, LLC holds 6,124,855.00 shares, representing 2.3% of the class.
• The filing certifies that the securities were not acquired for the purpose of changing or influencing control of IREN Ltd.

Sentiment

Score: 7

Explanation: The disclosure of a 6.4% beneficial ownership by a reputable institutional investor like Jane Street Group in IREN Ltd is generally a positive signal, indicating confidence in the company's value or future prospects from a sophisticated market participant.

Positives

• A significant institutional investor, Jane Street Group, has taken a substantial 6.4% stake in IREN Ltd, potentially signaling confidence in the company's prospects.
• The stake includes shares acquirable through convertible bonds, indicating a diversified investment approach by Jane Street Group.

Future Outlook

NA

Industry Context

This Schedule 13G filing indicates that Jane Street Group, a prominent global quantitative trading firm, has established a significant passive investment in IREN Ltd. Such disclosures are common for institutional investors crossing the 5% beneficial ownership threshold, signaling their position in a public company without necessarily implying an intent to influence management or control. It reflects Jane Street's investment strategy, which often involves diverse holdings across various market segments.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake by Jane Street Group could be perceived positively, potentially boosting investor confidence and attracting further institutional interest.
• Management: While Jane Street Group certifies no intent to influence control, management may view this as a validation of the company's strategy or valuation.

Key Dates

Recommendation

The filing indicates a significant institutional investment by Jane Street Group, which can be a positive signal. However, a Schedule 13G is a passive ownership disclosure and does not provide new operational or financial performance data for IREN Ltd. Therefore, while the institutional interest is noteworthy, it doesn't inherently warrant a 'buy' or 'sell' recommendation without further analysis of IREN Ltd's fundamentals. A 'hold' recommendation is appropriate as it acknowledges the positive signal without overstating its immediate impact on the company's intrinsic value or operational outlook.

Keywords

IREN Ltd, Jane Street Group, Beneficial Ownership, Schedule 13G, Ordinary Shares, Institutional Investment, Convertible Bonds, Equity Stake, Q4982L109