Applied Digital Corp. ownership disclosure: multiple Jane Street entities report a combined 20,886,105 shares, equal to 7.1% of common stock, reflecting shared voting and dispositive power. The filing states the calculation uses 295,545,891 shares outstanding (including 15,960,068 warrants).
The filing lists per-entity holdings, including Jane Street Global Trading, LLC with 15,964,583 shares (5.4%) and Jane Street Capital, LLC with 3,624,900 shares (1.2%).
Positive
None.
Negative
None.
Insights
Jane Street reports a multi-entity 7.1% beneficial stake, largely via warrants held by JSGT.
Filing details show total beneficial ownership of 20,886,105 shares with shared voting and dispositive power. The calculation ties to 295,545,891 shares outstanding, which incorporates 15,960,068 warrants held by Jane Street Global Trading, LLC.
Monitor subsequent amendments or 13D/13G revisions for any change in voting power or conversion/exercise activity; timing of any warrant exercise is not provided in the excerpt.
The filing attributes shared control across several Jane Street subsidiaries and lists the relevant subsidiaries.
The schedule identifies subsidiaries (Jane Street Capital, Options, Global Trading, Singapore, Leonard Street Holdings) and reports shared voting/dispositive power for 20,886,105 shares. The signature block shows authorized signatory filings dated 05/12/2026.
Watch for any future disclosures that change sole versus shared power or disclose exercises/conversions that would alter percent ownership.
Key Figures
Beneficial ownership:20,886,105 sharesPercent of class:7.1%Warrants included:15,960,068 warrants+3 more
"The reported holding includes 15,960,068 shares that can be acquired from warrants held by Jane Street Global Trading, LLC"
Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
shared dispositive powerregulatory
"(iv) Shared power to dispose or to direct the disposition of: 20,886,105.00"
Schedule 13G/Aregulatory
"(Amendment No. 4 ) Applied Digital Corp."
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 4)
Applied Digital Corp.
(Name of Issuer)
Common stock, par value $0.001 per share
(Title of Class of Securities)
038169207
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
038169207
1
Names of Reporting Persons
JANE STREET GROUP, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
20,886,105.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
20,886,105.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
20,886,105.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
7.1 %
12
Type of Reporting Person (See Instructions)
HC
Comment for Type of Reporting Person: The reported holding includes 15,960,068 shares that can be acquired from warrants held by Jane Street Global Trading, LLC (JSGT). The % ownership calculation uses 295,545,891 outstanding shares which is based on (1) 279,585,823 shares outstanding as of January 7, 2026 as stated in the issuer's 10Q filing on January 8, 2026; and (2) dilution of the outstanding shares due to 15,960,068 warrants held by JSGT.
SCHEDULE 13G
CUSIP Number(s):
038169207
1
Names of Reporting Persons
Jane Street Capital, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,624,900.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,624,900.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,624,900.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
1.2 %
12
Type of Reporting Person (See Instructions)
BD
Comment for Type of Reporting Person: The % ownership calculation uses 295,545,891 outstanding shares which is based on (1) 279,585,823 shares outstanding as of January 7, 2026 as stated in the issuer's 10Q filing on January 8, 2026; and (2) dilution of the outstanding shares due to 15,960,068 warrants held by JSGT.
SCHEDULE 13G
CUSIP Number(s):
038169207
1
Names of Reporting Persons
Jane Street Options, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
64,800.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
64,800.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
64,800.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.0 %
12
Type of Reporting Person (See Instructions)
BD
Comment for Type of Reporting Person: The % ownership calculation uses 295,545,891 outstanding shares which is based on (1) 279,585,823 shares outstanding as of January 7, 2026 as stated in the issuer's 10Q filing on January 8, 2026; and (2) dilution of the outstanding shares due to 15,960,068 warrants held by JSGT.
SCHEDULE 13G
CUSIP Number(s):
038169207
1
Names of Reporting Persons
Jane Street Global Trading, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
15,964,583.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
15,964,583.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
15,964,583.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.4 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The reported holding includes 15,960,068 shares that can be acquired from warrants held by Jane Street Global Trading, LLC (JSGT). The % ownership calculation uses 295,545,891 outstanding shares which is based on (1) 279,585,823 shares outstanding as of January 7, 2026 as stated in the issuer's 10Q filing on January 8, 2026; and (2) dilution of the outstanding shares due to 15,960,068 warrants held by JSGT.
SCHEDULE 13G
CUSIP Number(s):
038169207
1
Names of Reporting Persons
Jane Street Singapore Pte. Ltd
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,193.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,193.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,193.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.0 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The % ownership calculation uses 295,545,891 outstanding shares which is based on (1) 279,585,823 shares outstanding as of January 7, 2026 as stated in the issuer's 10Q filing on January 8, 2026; and (2) dilution of the outstanding shares due to 15,960,068 warrants held by JSGT.
SCHEDULE 13G
CUSIP Number(s):
038169207
1
Names of Reporting Persons
Leonard Street Holdings, LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,230,629.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,230,629.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,230,629.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.4 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The % ownership calculation uses 295,545,891 outstanding shares which is based on (1) 279,585,823 shares outstanding as of January 7, 2026 as stated in the issuer's 10Q filing on January 8, 2026; and (2) dilution of the outstanding shares due to 15,960,068 warrants held by JSGT.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Applied Digital Corp.
(b)
Address of issuer's principal executive offices:
3811 TURTLE CREEK BLVD., SUITE 2100, 3811 TURTLE CREEK BLVD., SUITE 2100, DALLAS, TEXAS, 75219.
Item 2.
(a)
Name of person filing:
Jane Street Group, LLC;
Jane Street Capital, LLC;
Jane Street Options, LLC;
Jane Street Global Trading, LLC;
Jane Street Singapore Pte. Ltd;
Leonard Street Holdings, LP
(b)
Address or principal business office or, if none, residence:
Jane Street Group, LLC
250 Vesey Street
6th Floor
New York, NY 10281
Jane Street Capital, LLC
250 Vesey Street
6th Floor
New York, NY 10281
Jane Street Options, LLC
250 Vesey Street
6th Floor
New York, NY 10281
Jane Street Global Trading, LLC
250 Vesey Street
6th Floor
New York, NY 10281
Jane Street Singapore Pte. Ltd
4/F, Ocean Financial Centre 10 Collyer Quay
Singapore 049315
Leonard Street Holdings, LP
250 Vesey Street
6th Floor
New York, NY 10281
(c)
Citizenship:
See Item 4 of Cover Page
(d)
Title of class of securities:
Common stock, par value $0.001 per share
(e)
CUSIP No.:
038169207
Item 3.
If this statement is filed pursuant to §§ 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 Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
20,886,105.00
(b)
Percent of class:
7.1%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
20,886,105.00
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
20,886,105.00
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
Subsidiary
Jane Street Capital, LLC
Jane Street Options, LLC
Jane Street Global Trading, LLC
Jane Street Singapore Pte. Ltd
Leonard Street Holdings, LP
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my 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, other than activities solely in connection with a nomination under § 240.14a-11.
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.
What stake does Jane Street report in Applied Digital (APLD)?
Jane Street reports beneficial ownership of 20,886,105 shares, equal to 7.1% of common stock. The filing bases the percent on 295,545,891 shares outstanding, which incorporates 15,960,068 warrants held by Jane Street Global Trading, LLC.
How was the 7.1% ownership percentage calculated?
The percentage uses 295,545,891 shares outstanding, derived from 279,585,823 reported outstanding shares as of January 7, 2026 plus dilution from 15,960,068 warrants held by JSGT, as stated in the filing's comment.
Which Jane Street entities hold shares and what are their amounts?
The filing lists multiple entities: Jane Street Global Trading, LLC with 15,964,583 shares (5.4%), Jane Street Capital, LLC with 3,624,900 shares (1.2%), plus smaller holdings by other Jane Street-related entities and Leonard Street Holdings.
Does the filing disclose whether Jane Street has sole voting or dispositive power?
The filing reports 0 shares with sole voting or sole dispositive power and 20,886,105 shares with shared voting and shared dispositive power, indicating jointly held authority across the listed subsidiaries.
