Wesley Cummins, a major shareholder, filed an amended ownership report for Applied Digital Corp. The report disclosed a 7.6% stake, totaling 22,042,487 shares. This stake was reported as of July 7, 2026. The Cummins Family Limited Partnership, among other affiliated entities, holds the majority of these shares.
The filing also revealed a new secured margin line of credit from JPMorgan Chase Bank. The Cummins Family Limited Partnership pledged 17,590,238 Applied Digital shares. These shares serve as collateral for the loan.