Jefferson Capital (JCAP) investor Burton reports 5.8% stake, later 5.5%

Rhea-AI Filing Summary

Jefferson Capital, Inc. disclosed that investor David M. Burton beneficially owned 3,777,500 shares of its common stock as of June 30, 2025, representing 5.8% of the outstanding shares based on 64,685,082 shares then outstanding. Burton had sole voting and dispositive power over these shares.

The filing notes that 385,000 shares of common stock were sold on January 9, 2026, after which Burton’s beneficial ownership decreased to 5.5% of Jefferson Capital’s outstanding common stock, based on 61,629,228 shares outstanding as of January 8, 2026. The position is held directly in Burton’s name, and no group or additional controlling entities are identified.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

JEFFERSON CAPITAL, INC.

(Name of Issuer)

Common Stock, $0.0001 par value per share

(Title of Class of Securities)

47248R103

(CUSIP Number)

06/30/2025

(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. 47248R103

1

Names of Reporting Persons

BURTON DAVID M.

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,777,500.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,777,500.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,777,500.00

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)

5.8 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: Percentage ownership is based on 64,685,082 shares of Common Stock outstanding at June 30, 2025. Holdings and beneficial ownership do not reflect the sale of 385,000 shares of Common Stock on January 9, 2026, after which sale the Reporting Person holds 3,392,500 shares of Common Stock, representing 5.5% beneficial ownership of outstanding shares of Common Stock on that date.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: JEFFERSON CAPITAL, INC.
(b)	Address of issuer's principal executive offices: 600 SOUTH HIGHWAY 169, SUITE 1575 MINNEAPOLIS, MINNESOTA, 55426
Item 2.
(a)	Name of person filing: BURTON DAVID M.
(b)	Address or principal business office or, if none, residence: 600 South Highway 169, Suite 1575, Minneapolis, Minnesota 55426
(c)	Citizenship: UNITED STATES
(d)	Title of class of securities: Common Stock, $0.0001 par value per share
(e)	CUSIP No.: 47248R103
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: As of June 30, 2025, the Reporting Person may be deemed to be the beneficial owner of 3,777,500 shares of Common Stock. The Reporting Person owns 3,392,000 shares of Common Stock as of the filing of this Schedule 13G.
(b)	Percent of class: As of June 30, 2025, the Reporting Person may be deemed to be the beneficial owner of 5.8% of the outstanding shares of Common Stock based on 64,685,082 shares of Common Stock outstanding as of June 30, 2025. The Reporting Person's current beneficial ownership is 5.5% of the outstanding shares of Common Stock based on 61,629,228 shares of Common Stock outstanding as of January 8, 2026.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 3,777,500.00
	(ii) Shared power to vote or to direct the vote: 0.00
	(iii) Sole power to dispose or to direct the disposition of: 3,777,500.00
	(iv) Shared power to dispose or to direct the disposition of: 0.00
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.
	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.

BURTON DAVID M.

Signature:	/s/ Matthew J. Pfohl
Name/Title:	Matthew J. Pfohl, Attorney-in-Fact for David M. Burton
Date:	01/16/2026

FAQ

What ownership stake in Jefferson Capital (JCAP) does David M. Burton report?

As of June 30, 2025, David M. Burton reports beneficial ownership of 3,777,500 shares of Jefferson Capital common stock, representing 5.8% of the outstanding shares based on 64,685,082 shares then outstanding.

How did David M. Burton’s ownership in Jefferson Capital (JCAP) change after January 9, 2026?

The filing states that after the sale of 385,000 shares of common stock on January 9, 2026, David M. Burton’s beneficial ownership decreased to 5.5% of Jefferson Capital’s outstanding common stock, based on 61,629,228 shares outstanding as of January 8, 2026.

Does David M. Burton share voting or dispositive power over Jefferson Capital (JCAP) shares?

No. The filing reports that David M. Burton has sole voting power and sole dispositive power over 3,777,500 shares, with zero shared voting or shared dispositive power.

Is David M. Burton part of a group for his Jefferson Capital (JCAP) holdings?

No. The Schedule 13G indicates that the ownership is reported solely by David M. Burton, and the sections for group membership and ownership on behalf of another person are marked Not Applicable.

What class of securities of Jefferson Capital (JCAP) is covered by this Schedule 13G?

The filing covers common stock of Jefferson Capital, Inc., with a par value of $0.0001 per share and CUSIP number 47248R103.

Who signed the Schedule 13G reporting David M. Burton’s stake in Jefferson Capital (JCAP)?

The statement is signed by Matthew J. Pfohl as Attorney-in-Fact for David M. Burton, dated January 16, 2026.