[SCHEDULE 13G/A] Webull Corp Amended Passive Investment Disclosure

Rhea-AI Filing Summary

Anquan Wang reports a 19.1% beneficial stake in Webull Corp’s Class A ordinary shares on an amended Schedule 13G. The filing shows beneficial ownership of 96,218,814 Class A shares, combining directly held stock, Class B shares convertible into Class A, and shares subject to a proxy agreement.

The position includes 2,301,374 Class A shares held via Webull Partners Limited, 83,859,005 Class B shares held through Water Castle Az Inc. (with voting power retained by Pozijie Inc., wholly owned by Wang), and voting control over 10,058,435 Class A shares under an August 15, 2025 proxy agreement. Voting rights under the proxy are structured so that any acquisition of voting power does not exceed a two percent limitation in any twelve-month period.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Webull Corp

(Name of Issuer)

Class A ordinary shares

(Title of Class of Securities)

G9572D103

(CUSIP Number)

12/31/2025

(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)

SCHEDULE 13G

CUSIP No. G9572D103

1

Names of Reporting Persons

Wang Anquan

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

CHINA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 96,218,814.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 86,160,379.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

96,218,814.00

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)

19.1 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: The reported amount includes (i) 2,301,374 Class A ordinary shares, (ii) 83,859,005 Class A ordinary shares issuable upon conversion of an equivalent number of Class B ordinary shares, and (iii) 10,058,435 Class A ordinary shares subject to the Proxy Agreement (as defined in Item 4 of this Schedule 13G). The percent of class is based on 419,062,786 outstanding Class A ordinary shares, as reported in the issuer's Report on Form 6-K furnished to the SEC on November 20, 2025, as increased by 83,859,005 Class A ordinary shares issuable upon conversion of 83,859,005 Class B ordinary shares beneficially owned by the Reporting Person.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Webull Corp
(b)	Address of issuer's principal executive offices: 200 CARILLON PARKWAY, ST. PETERSBURG, FLORIDA, 33716.
Item 2.
(a)	Name of person filing: Anquan Wang
(b)	Address or principal business office or, if none, residence: Building 4, Fund Town, 188 Binjiang Road, Yuelu District, Changsha, Hunan, People's Republic of China
(c)	Citizenship: People's Republic of China
(d)	Title of class of securities: Class A ordinary shares
(e)	CUSIP No.: G9572D103
Item 4.	Ownership
(a)	Amount beneficially owned: The information required by this item with respect to the Reporting Person is set forth in Rows 5 through 9 and 11 of the cover page to this Schedule 13G. The reported securities are directly held and beneficially owned as follows: (i) 2,301,374 Class A ordinary shares are held of record by Webull Partners Limited, which is managed by a trust (the "Trust") for the benefit of certain employees, directors and officers of the issuer. The Reporting Person is the sole member of the advisory committee of the Trust. (ii) 83,859,005 Class B ordinary shares are held of record by Water Castle Az Inc., whose voting power is fully retained by Pozijie Inc., which is wholly-owned by the Reporting Person. (iii) The Reporting Person has voting control of 10,058,435 Class A Ordinary Shares subject to a proxy agreement, dated August 15, 2025, by and between the Reporting Person and certain shareholders of the issuer (the "Proxy Agreement"), which agreement provides the Reporting Person with voting rights for a portion of the covered shares in an amount for which the acquisition of voting rights (and beneficial ownership) would not exceed the two percent limitation set forth in Section 13(d)(6)(B) of the Exchange Act of 1934, as amended during any twelve-month period (calculated together with any other acquisitions of Class A ordinary shares by the Reporting Person during such period). The filing of this Statement shall not be deemed an admission by the Reporting Person of beneficial ownership of any of the reported securities for purposes of Section 13(d) or Section 13(g) or for any other purpose.
(b)	Percent of class: 19.1%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Row 5 of the Reporting Person's cover page to this Schedule 13G sets forth the sole power to vote or to direct the vote of securities of the issuer beneficially owned by such Reporting Person as of the filing date of this Schedule 13G and is incorporated by reference.
	(ii) Shared power to vote or to direct the vote: Row 6 of the Reporting Person's cover page to this Schedule 13G sets forth the shared power to vote or to direct the vote of securities of the issuer beneficially owned by such Reporting Person as of the filing date of this Schedule 13G and is incorporated by reference.
	(iii) Sole power to dispose or to direct the disposition of: Row 7 of the Reporting Person's cover page to this Schedule 13G sets forth the sole power to dispose or to direct the disposition of securities of the issuer beneficially owned by such Reporting Person as of the filing date of this Schedule 13G and is incorporated by reference.
	(iv) Shared power to dispose or to direct the disposition of: Row 8 of the Reporting Person's cover page to this Schedule 13G sets forth the shared power to dispose or to direct the disposition of securities of the issuer beneficially owned by such Reporting Person as of the filing date of this Schedule 13G and is incorporated by reference.
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.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

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.

Wang Anquan

Signature:	Anquan Wang
Name/Title:	Anquan Wang
Date:	02/13/2026