Monitor for further 13G amendments or a potential 13D conversion if Millennium's exit accelerates. The reduction below 5% removes a large passive holder, potentially increasing stock volatility. The Q3 earnings miss (EPS $0.73 vs $0.77 consensus) and rising NPAs provide context for the exit.
Price Chart
Executive Summary
Millennium Management and related entities filed an amended Schedule 13G disclosing a 4.2% passive stake in Beacon Financial Corp as of September 30, 2026. The filing confirms a reduction from the prior 5.0%+ threshold, with Integrated Core Strategies (US) LLC holding 2.8% and the broader Millennium group holding 4.2%. The stake is now below 5%, signaling a partial exit by a major hedge fund manager.
Key Financial Metrics
Key Facts
- Millennium Management LLC and related entities reported beneficial ownership of 3,515,942 shares (4.2%) of Beacon Financial Corp common stock as of September 30, 2026.
- Integrated Core Strategies (US) LLC holds 2,367,536 shares (2.8%) directly.
- The filing is an amendment to a prior Schedule 13G, indicating the stake has fallen below the 5% threshold.
- The filing was made under Rule 13d-1(c), confirming passive investment intent.
- The filing date is October 22, 2026, with the ownership date as of September 30, 2026.
Financial Impact
Millennium reduced its stake from above 5% to 4.2%, representing a sale of at least ~670,000 shares (based on ~83.7M shares outstanding). At ~$27.50/share (approximate), the exit value is ~$18.4M.
Risk Factors
- Continued selling by Millennium could pressure the stock.
- The earnings miss and credit quality deterioration (NPAs at $163.1M) may drive further institutional exits.
- The stock buyback authorization ($125M) may provide some support but is insufficient to offset fundamental headwinds.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13G/A Filing (Primary) | 0001104659-26-118529 |
| Document: 0001104659-26-118529-index-headers.html | 0001104659-26-118529 |
| Document: 0001104659-26-118529-index.html | 0001104659-26-118529 |
| Document: 0001104659-26-118529.txt | 0001104659-26-118529 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | Insider Cluster | $30.86 $30.71 | ▼ −0.49% | ▼ −1.05% | $30.71 (−0.49%) |
Oct 26, 2026 1d ago | Insider Cluster | $30.86 $30.71 | ▼ −0.49% | ▼ −1.05% | $30.71 (−0.49%) |
Oct 23, 2026 4d ago | SC 13G/A | $30.86 $30.71 | ▲ +0.49% | ▲ +1.05% | $30.71 (+0.49%) |
Oct 21, 2026 6d ago | 8-K | $29.95 $30.07 | ▲ +0.40% | ▲ +0.92% | $30.71 (+2.54%) |
Oct 21, 2026 6d ago | Press Release | $29.95 $30.07 | ▼ −0.40% | ▼ −0.92% | $30.71 (−2.54%) |
Sep 30, 2026 27d ago | Press Release | $27.99 | awaiting T+1 | — | $30.71 (+9.72%) |
Sep 29, 2026 28d ago | 8-K | $27.99 $28.10 | ▲ +0.39% | ▲ +0.21% | $30.71 (+9.72%) |
Sep 21, 2026 5w ago | 8-K | $28.75 $28.42 | ▼ −1.15% | ▼ −1.13% | $30.71 (+6.82%) |
Sep 21, 2026 5w ago | Press Release | $28.75 $28.42 | ▼ −1.15% | ▼ −1.13% | $30.71 (+6.82%) |
Aug 17, 2026 10w ago | 424B5 | $32.61 $32.50 | ▼ −0.34% | ▲ +0.34% | $30.71 (−5.83%) |
US Market Status
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