Millennium's 5.6% passive stake is a notable but non-activist position. Monitor for any future conversion to a 13D or increased activity, but for now the filing is routine. The prior Millennium 13G from January 2026 suggests a maintained or increased position over the past nine months.
Price Chart
Executive Summary
Millennium Management (via Integrated Core Strategies) filed a Schedule 13G on October 5, 2026, disclosing a 5.6% passive stake in First Horizon Corp as of September 28, 2026. This is a new 13G filing for this filer, following prior passive filings by Vanguard and a prior Millennium 13G from January 2026. The filing confirms a notable hedge fund position but carries no activist intent, making it a routine passive disclosure.
Key Financial Metrics
Key Facts
- Millennium Management LLC and affiliates reported beneficial ownership of 26,345,431 shares of First Horizon Corp common stock.
- The stake represents 5.6% of shares outstanding as of September 28, 2026.
- Integrated Core Strategies (US) LLC directly holds 24,336,953 shares (5.1%).
- The filing is made under Rule 13d-1(c) (passive investor), explicitly disclaiming any intent to change or influence control.
- This is a new 13G filing by Millennium; a prior Millennium 13G was filed on January 29, 2026, and a Vanguard 13G was filed on April 29, 2026.
Financial Impact
5.6% passive stake valued at approximately $1.1 billion based on current market cap of ~$20B (estimated).
Risk Factors
- Passive 13G status could convert to activist 13D if Millennium changes intent, though no indication of that here.
- Hedge fund positions can be reduced or exited without public disclosure until below 5%.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13G Filing (Primary) | 0001104659-26-113805 |
| Document: 0001104659-26-113805-index-headers.html | 0001104659-26-113805 |
| Document: 0001104659-26-113805-index.html | 0001104659-26-113805 |
| Document: 0001104659-26-113805.txt | 0001104659-26-113805 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | Press Release | $23.36 | awaiting T+5 | — | $23.43 (+0.30%) |
Oct 22, 2026 4d ago | SC 13G/A | $23.54 | awaiting T+5 | — | $23.43 (−0.47%) |
Oct 21, 2026 5d ago | Institutional Cluster | $23.54 | awaiting T+5 | — | $23.43 (−0.47%) |
Oct 19, 2026 7d ago | Press Release | $22.73 $23.43 | ▲ +3.08% | ▲ +3.22% | $23.43 (+3.08%) |
Oct 15, 2026 11d ago | 8-K | $22.86 $23.54 | ▲ +2.97% | ▲ +3.99% | $23.43 (+2.49%) |
Oct 15, 2026 11d ago | Press Release | $22.86 $23.54 | ▼ −2.97% | ▼ −3.99% | $23.43 (−2.49%) |
Oct 15, 2026 12d ago | Court Ruling | $22.88 $23.44 | ▲ +2.45% | ▲ +2.88% | $23.43 (+2.40%) |
Oct 11, 2026 16d ago | Court Ruling | $23.06 $22.73 | ▼ −1.43% | ▲ +0.06% | $23.43 (+1.60%) |
Oct 5, 2026 21d ago | SC 13G | $23.34 $22.77 | ▼ −2.44% | ▼ −2.30% | $23.43 (+0.39%) |
Sep 24, 2026 4w ago | Press Release | $23.46 $23.42 | ▼ −0.17% | ▲ +0.05% | $23.43 (−0.13%) |
US Market Status
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