Jane Street discloses 7.3% Strategy Inc (MSTR) ownership stake

Rhea-AI Filing Summary

Jane Street Group, LLC and affiliated entities filed an amended Schedule 13G reporting beneficial ownership of Strategy Inc’s Class A common stock. They report beneficial ownership of 19,501,420.50 shares, representing 7.3% of the class, with no sole voting or dispositive power and full authority shared among the reporting entities.

The filing states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Strategy Inc. The report lists several Jane Street subsidiaries, including broker-dealer units and international affiliates, as part of the ownership structure.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Strategy Inc

(Name of Issuer)

Class A common stock, $0.001 par value per share

(Title of Class of Securities)

594972408

(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. 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 19,501,420.50
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 19,501,420.50

9

Aggregate Amount Beneficially Owned by Each Reporting Person

19,501,420.50

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)

7.3 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP No. 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 21,211.50
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 21,211.50

9

Aggregate Amount Beneficially Owned by Each Reporting Person

21,211.50

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 No. 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 18,547,200.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 18,547,200.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

18,547,200.00

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)

6.9 %

12

Type of Reporting Person (See Instructions)

BD

SCHEDULE 13G

CUSIP No. 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 932,745.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 932,745.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

932,745.00

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

SCHEDULE 13G

CUSIP No. 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 264.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 264.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

264.00

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: 19,501,420.50
(b)	Percent of class: 7.3 %
(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: 19,501,420.50
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 19,501,420.50
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 - (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:	02/11/2026

Jane Street Capital, LLC

Signature:	/s/ Jeremy Kahn
Name/Title:	Jeremy Kahn (Authorized Signatory)
Date:	02/11/2026

Jane Street Options, LLC

Signature:	/s/ Jeremy Kahn
Name/Title:	Jeremy Kahn (Authorized Signatory)
Date:	02/11/2026

Jane Street Global Trading, LLC

Signature:	/s/ Jeremy Kahn
Name/Title:	Jeremy Kahn (Authorized Signatory)
Date:	02/11/2026

Jane Street Singapore Pte. Ltd

Signature:	/s/ Jeremy Kahn
Name/Title:	Jeremy Kahn (Authorized Signatory)
Date:	02/11/2026

FAQ

How many Strategy Inc (MSTR) shares does Jane Street Group report owning?

Jane Street Group and affiliates report beneficial ownership of 19,501,420.50 Strategy Inc Class A shares. This stake is disclosed in their amended Schedule 13G as representing 7.3% of the outstanding class, with voting and dispositive power shared among the reporting entities.

What percentage of Strategy Inc (MSTR) does Jane Street Group’s stake represent?

Jane Street Group and related entities report holding 7.3% of Strategy Inc’s Class A common stock. This percentage is based on 19,501,420.50 shares they beneficially own, as detailed in the Schedule 13G/A ownership section for Item 4.

Is Jane Street seeking to influence control of Strategy Inc (MSTR)?

Jane Street certifies it is not seeking to change or influence control of Strategy Inc. The filing states the securities were acquired and are held in the ordinary course of business, not in connection with any control-related transaction or campaign.

Which Jane Street entities are listed as Strategy Inc (MSTR) reporting persons?

The filing lists Jane Street Group, LLC, Jane Street Capital, LLC, Jane Street Options, LLC, Jane Street Global Trading, LLC, and Jane Street Singapore Pte. Ltd as reporting persons, with each entity’s address and jurisdiction of organization specified.

How much of Strategy Inc (MSTR) does Jane Street Options, LLC specifically report?

Jane Street Options, LLC reports beneficial ownership of 18,547,200.00 Strategy Inc Class A shares, representing 6.9% of the class. It shows no sole voting or dispositive power, with all such powers shared, consistent with the group reporting structure.

What is the event date for Jane Street’s Schedule 13G/A on Strategy Inc (MSTR)?

The event triggering this amended Schedule 13G is dated December 31, 2025. Ownership information, including the 19,501,420.50 shares and corresponding 7.3% stake, is reported as of that event date in the filing.