[SCHEDULE 13G] Opendoor Technologies Inc. SEC Filing

Rhea-AI Filing Summary

Jane Street entities disclosed a collective 5.9% stake in Opendoor Technologies (OPEN), reporting beneficial ownership of 44,031,310.18 shares. The filing is a Schedule 13G dated around September 2025 and lists five Jane Street-related filers: Jane Street Group, LLC (parent), Jane Street Capital, LLC, Jane Street Options, LLC, Jane Street Global Trading, LLC, and Jane Street Singapore Pte. Ltd.

The 5.9% figure is based on a total share count of 751,458,136 that combines 735,954,186 common shares outstanding reported in the issuer's July 29, 2025 10-Q and 15,503,950 shares that are acquirable upon conversion of convertible bonds held by two Jane Street affiliates. Reported voting and dispositive power is shared; no filer claims sole voting or dispositive power.

Positive

• Material disclosure of a >5% position provides transparency to the market
• Clear breakdown of holdings across Jane Street entities and inclusion of convertible shares in the ownership calculation
• Filing under Schedule 13G and certification indicate passive intent rather than an activist stance

Negative

• Shared voting and dispositive power may obscure which affiliate directs trading and voting decisions
• Convertible shares included inflate the reported ownership percentage versus outstanding-common-only basis, which may confuse some readers

Insights

Securities Analyst

TL;DR Jane Street reports a meaningful passive stake (5.9%) in Opendoor based on combined outstanding and convertible shares.

The Schedule 13G indicates the position is reported under a passive ownership standard rather than an activist intent; filers certify they did not acquire shares to influence control. The disclosure clarifies the denominator includes both outstanding common shares and convertible bond-derived shares, which elevates the reported percentage above what would be shown using only the issuer's outstanding common stock. Shared voting and dispositive power across Jane Street entities suggests centralized portfolio management but no single entity asserts sole control. For investors, this is an important ownership disclosure but not an indication of strategic control efforts.

Corporate Governance Expert

TL;DR Ownership crosses the 5% Schedule 13 threshold, requiring public transparency but not signaling control or activism.

The filing is appropriately structured listing parent and subsidiaries and classifying reporting persons. The certification states holdings were not acquired to change or influence control, consistent with Schedule 13G treatment. Shared voting/dispositive power among entities and inclusion of convertible shares in the calculation are governance-relevant details: they affect the reported percentage and confirm the group relationship. This is a routine, material disclosure about significant ownership without governance action.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Opendoor Technologies Inc.

(Name of Issuer)

Common stock, $0.0001 par value per share

(Title of Class of Securities)

683712103

(CUSIP Number)

09/17/2025

(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. 683712103

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 44,031,310.18
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 44,031,310.18

9

Aggregate Amount Beneficially Owned by Each Reporting Person

44,031,310.18

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)

5.9 %

12

Type of Reporting Person (See Instructions)

HC

Comment for Type of Reporting Person: The holding percentage calculation is based on a total of 751,458,136 shares outstanding which includes (1) 735,954,186 Common Stock outstanding as of July 29, 2025, as indicated in the issuer's 10Q filing published on August 5, 2025; and (2) 15,503,950 shares acquirable by Jane Street Global Trading, LLC and Jane Street Capital, LLC through conversion of convertible bonds held.

SCHEDULE 13G

CUSIP No. 683712103

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 3,182,267.68
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,182,267.68

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,182,267.68

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)

BD

Comment for Type of Reporting Person: The holding percentage calculation is based on a total of 751,458,136 shares outstanding which includes (1) 735,954,186 Common Stock outstanding as of July 29, 2025, as indicated in the issuer's 10Q filing published on August 5, 2025; and (2) 15,503,950 shares acquirable by Jane Street Global Trading, LLC and Jane Street Capital, LLC through conversion of convertible bonds held.

SCHEDULE 13G

CUSIP No. 683712103

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 23,641,082.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 23,641,082.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

23,641,082.00

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)

3.2 %

12

Type of Reporting Person (See Instructions)

BD

Comment for Type of Reporting Person: The holding percentage calculation is based on a total of 751,458,136 shares outstanding which includes (1) 735,954,186 Common Stock outstanding as of July 29, 2025, as indicated in the issuer's 10Q filing published on August 5, 2025; and (2) 15,503,950 shares acquirable by Jane Street Global Trading, LLC and Jane Street Capital, LLC through conversion of convertible bonds held.

SCHEDULE 13G

CUSIP No. 683712103

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 17,207,059.50
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 17,207,059.50

9

Aggregate Amount Beneficially Owned by Each Reporting Person

17,207,059.50

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)

2.3 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: The holding percentage calculation is based on a total of 751,458,136 shares outstanding which includes (1) 735,954,186 Common Stock outstanding as of July 29, 2025, as indicated in the issuer's 10Q filing published on August 5, 2025; and (2) 15,503,950 shares acquirable by Jane Street Global Trading, LLC and Jane Street Capital, LLC through conversion of convertible bonds held.

SCHEDULE 13G

CUSIP No. 683712103

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 901.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 901.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

901.00

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 holding percentage calculation is based on a total of 751,458,136 shares outstanding which includes (1) 735,954,186 Common Stock outstanding as of July 29, 2025, as indicated in the issuer's 10Q filing published on August 5, 2025; and (2) 15,503,950 shares acquirable by Jane Street Global Trading, LLC and Jane Street Capital, LLC through conversion of convertible bonds held.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Opendoor Technologies Inc.
(b)	Address of issuer's principal executive offices: 410 N. SCOTTSDALE ROAD, SUITE 1000, TEMPE, ARIZONA, 85288.
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: Common stock, $0.0001 par value per share
(e)	CUSIP No.: 683712103
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: 44031310.18
(b)	Percent of class: 5.9 %
(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: 44031310.18
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 44031310.18
Item 5.	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 Jane Street Options, LLC Jane Street Global Trading, LLC Jane Street Singapore Pte. Ltd
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.

JANE STREET GROUP, LLC

Signature:	Jeremy Kahn
Name/Title:	Jeremy Kahn (Authorized Signatory)
Date:	09/24/2025

Jane Street Capital, LLC

Signature:	Jeremy Kahn
Name/Title:	Jeremy Kahn (Authorized Signatory)
Date:	09/24/2025

Jane Street Options, LLC

Signature:	Jeremy Kahn
Name/Title:	Jeremy Kahn (Authorized Signatory)
Date:	09/24/2025

Jane Street Global Trading, LLC

Signature:	Jeremy Kahn
Name/Title:	Jeremy Kahn (Authorized Signatory)
Date:	09/24/2025

Jane Street Singapore Pte. Ltd

Signature:	Jeremy Kahn
Name/Title:	Jeremy Kahn (Authorized Signatory)
Date:	09/24/2025

FAQ

How many Opendoor (OPEN) shares does Jane Street Group, LLC report owning?

Jane Street Group, LLC reports beneficial ownership of 44,031,310.18 shares, representing 5.9% of the class based on the filing's denominator.

Which Jane Street entities filed the Schedule 13G for OPEN?

Jane Street Group, LLC; Jane Street Capital, LLC; Jane Street Options, LLC; Jane Street Global Trading, LLC; and Jane Street Singapore Pte. Ltd are listed as reporting persons.

Does the filing indicate Jane Street intends to influence Opendoor's control?

No. The certification states the securities were not acquired and are not held to change or influence control, consistent with Schedule 13G passive reporting.

Why is the ownership percentage 5.9% instead of a different figure?

The filing uses a total share count of 751,458,136, which includes 735,954,186 common shares outstanding per Opendoor's July 29, 2025 10-Q and 15,503,950 shares acquirable via convertible bonds held by Jane Street affiliates.

Does any Jane Street filer claim sole voting or dispositive power over these OPEN shares?

No. All filers report 0 sole voting power and 0 sole dispositive power; reported powers are shared among entities.