Jane Street affiliates disclose 13.06M-share stake in Strategy Inc (MSTR)

Rhea-AI Filing Summary

Jane Street Group and affiliated entities disclosed beneficial ownership of Strategy Inc Class A common stock totaling 13,064,661.40 shares, representing 4.0% of the class. The filing reports shared voting and shared dispositive power over 13,064,661.40 shares; sole voting and dispositive power are reported as 0.

The Schedule 13G/A lists related entities (Jane Street Capital, Jane Street Options, Jane Street Global Trading, Jane Street Singapore) and shows Jane Street Capital beneficially holding 12,945,072.40 shares and Jane Street Options holding 108,500.00 shares as part of the combined position. The filing is signed by an authorized signatory on 05/11/2026.

Insights

Institutional Ownership Analyst

Jane Street reports a passive, shared 4.0% stake in Strategy Inc.

Jane Street Group and affiliates report combined beneficial ownership of 13,064,661.40 shares ( 4.0%). The position is shown as shared voting and shared dispositive power, with no sole voting or dispositive authority disclosed.

Because the filing is a Schedule 13G/A, it indicates passive investor status rather than an active control intent; subsequent filings would show any change in status or additional acquisitions.

Corporate Governance Specialist

Filing clarifies entity-level holdings and voting disposition across Jane Street subsidiaries.

The report itemizes holdings by subsidiary: Jane Street Capital, LLC with 12,945,072.40 shares, Jane Street Options, LLC with 108,500.00 shares, and smaller amounts for other affiliates. Shared powers are explicitly reported in the cover page table.

Watch for future amendments or a Schedule 13D if the group's intent changes; current text preserves the passive classification and attaches subsidiary identifications as required.

Key Figures

Beneficial ownership: 13,064,661.40 shares Percent of class: 4.0% Jane Street Capital holding: 12,945,072.40 shares +3 more

6 metrics

Beneficial ownership 13,064,661.40 shares Class A common stock

Percent of class 4.0% Percent of Class A common stock

Jane Street Capital holding 12,945,072.40 shares beneficially held by Jane Street Capital, LLC

Jane Street Options holding 108,500.00 shares beneficially held by Jane Street Options, LLC

Sole voting/dispositive power 0 Shares with sole voting or dispositive power reported as 0

Filing signature date 05/11/2026 Authorized signatory date

Key Terms

Schedule 13G/A, Beneficial ownership, Shared dispositive power, Shared voting power

4 terms

Schedule 13G/A regulatory

"Amendment No. 2 ) Strategy Inc Class A common stock"

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.

Beneficial ownership financial

"Item 4. | Ownership (a) | Amount beneficially owned: 13,064,661.40"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Shared dispositive power regulatory

"Shared Dispositive Power 13,064,661.40"

Shared voting power regulatory

"Shared Voting Power 13,064,661.40"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Strategy Inc

(Name of Issuer)

Class A common stock, $0.001 par value per share

(Title of Class of Securities)

594972408

(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): 594972408

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 13,064,661.40
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 13,064,661.40

9

Aggregate Amount Beneficially Owned by Each Reporting Person

13,064,661.40

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)

4.0 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP Number(s): 594972408

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 12,945,072.40
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,945,072.40

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,945,072.40

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)

4.0 %

12

Type of Reporting Person (See Instructions)

BD

SCHEDULE 13G

CUSIP Number(s): 594972408

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 108,500.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 108,500.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

108,500.00

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)

0.0 %

12

Type of Reporting Person (See Instructions)

BD

SCHEDULE 13G

CUSIP Number(s): 594972408

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 11,089.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 11,089.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

11,089.00

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

SCHEDULE 13G

CUSIP Number(s): 594972408

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

SINGAPORE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

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

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Strategy Inc
(b)	Address of issuer's principal executive offices: 1850 TOWERS CRESCENT PLAZA, 1850 TOWERS CRESCENT PLAZA, TYSONS CORNER, VIRGINIA, 22182.
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
(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
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Class A common stock, $0.001 par value per share
(e)	CUSIP No.: 594972408
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: 13,064,661.40
(b)	Percent of class: 4.0%
(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: 13,064,661.40
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 13,064,661.40
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
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 - (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); Jane Street Options, LLC - (a) Broker or dealer registered under section 15 of the Act (15 U.S.C.78o); Jane Street Global Trading, LLC - N/A; Jane Street Singapore Pte. Ltd - N/A
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 acquired and are held in the ordinary course of business and 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.

JANE STREET GROUP, LLC

Signature:	/s/ Jeremy Kahn
Name/Title:	Jeremy Kahn (Authorized Signatory)
Date:	05/11/2026

Jane Street Capital, LLC

Signature:	/s/ Jeremy Kahn
Name/Title:	Jeremy Kahn (Authorized Signatory)
Date:	05/11/2026

Jane Street Options, LLC

Signature:	/s/ Jeremy Kahn
Name/Title:	Jeremy Kahn (Authorized Signatory)
Date:	05/11/2026

Jane Street Global Trading, LLC

Signature:	/s/ Jeremy Kahn
Name/Title:	Jeremy Kahn (Authorized Signatory)
Date:	05/11/2026

Jane Street Singapore Pte. Ltd

Signature:	/s/ Jeremy Kahn
Name/Title:	Jeremy Kahn (Authorized Signatory)
Date:	05/11/2026

FAQ

What stake does Jane Street report in Strategy Inc (MSTR)?

Jane Street and affiliates report beneficial ownership of 13,064,661.40 shares, representing 4.0% of Strategy Inc Class A common stock. The position is shown with shared voting and shared dispositive power over the same number of shares.

Which Jane Street entities hold these shares?

The filing lists multiple related filers: Jane Street Group, Jane Street Capital, Jane Street Options, Jane Street Global Trading, and Jane Street Singapore. The largest listed holder is Jane Street Capital with 12,945,072.40 shares in the combined disclosure.

Does Jane Street report sole control over the shares?

No. The filing shows 0 shares with sole voting or sole dispositive power. All reported authority is shared voting and shared dispositive power over 13,064,661.40 shares, per Item 4 on the form.

When was the Schedule 13G/A signed and filed?

The Schedule 13G/A amendment shows signatures by an authorized signatory, Jeremy Kahn, dated 05/11/2026. The cover page also lists an as-of or reporting date of 03/31/2026 on the form header.