Monitor for additional institutional selling or further 13G amendments. The reduction below 5% removes Millennium's filing obligation, so future changes may not be disclosed. Watch for any conversion to a 13D if the fund's intent changes.
Price Chart
Executive Summary
Millennium Management LLC filed an amendment to its Schedule 13G, reporting a reduced passive stake of 722,900 shares (2.0% of class) as of September 30, 2026, down from 2,029,417 shares (5.6%) disclosed in the prior 13G filed September 18, 2026. The reduction below 5% signals a significant de-risking by a major hedge fund, which may be viewed as a negative signal by the market.
Key Financial Metrics
Key Facts
- Millennium Management LLC reduced its stake in Lincoln International from 2,029,417 shares (5.6%) to 722,900 shares (2.0%) as of September 30, 2026.
- The filing is an amendment to Schedule 13G, certifying passive intent with no control influence.
- The stake is now below the 5% threshold, removing the requirement for ongoing 13G filings.
- The filing date is October 26, 2026, with the joint filing agreement dated October 23, 2026.
Financial Impact
Millennium reduced its stake by approximately 1,306,517 shares, representing a 64% reduction from the prior 5.6% position. At a market cap of $2.5B, the sold shares were worth roughly $90M based on the prior stake value.
Risk Factors
- Significant reduction by a major hedge fund could signal waning confidence or a negative outlook.
- The stake is now below 5%, reducing transparency on future trading by this holder.
- Potential for further selling by other institutional holders following Millennium's exit.
Market Snapshot
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13G/A Filing (Primary) | 0001104659-26-118890 |
| Document: 0001104659-26-118890-index-headers.html | 0001104659-26-118890 |
| Document: 0001104659-26-118890-index.html | 0001104659-26-118890 |
| Document: 0001104659-26-118890.txt | 0001104659-26-118890 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | SC 13G/A | $23.44 | awaiting T+20 | — | $23.76 (−1.37%) |
Oct 15, 2026 12d ago | Press Release | $24.36 | awaiting T+20 | — | $23.76 (−2.46%) |
Sep 18, 2026 5w ago | SC 13G | $24.68 $23.26 | ▼ −5.75% | ▼ −4.85% | $23.76 (−3.73%) |
Aug 6, 2026 11w ago | 8-K | $23.41 $26.83 | ▲ +14.61% | ▲ +14.01% | $23.76 (+1.50%) |
May 26, 2026 22w ago | 8-K | $22.74 $23.00 | ▲ +1.14% | ▲ +3.04% | $23.76 (+4.49%) |
May 21, 2026 22w ago | 424B4 | $23.05 $23.63 | ▲ +2.49% | ▲ +2.16% | $23.76 (+3.08%) |
May 20, 2026 22w ago | 3 | $23.05 $23.63 | ▲ +2.49% | ▲ +2.16% | $23.76 (+3.08%) |
May 14, 2026 23w ago | S-1/A | — | awaiting T+20 | — | — |
May 11, 2026 24w ago | S-1/A | — | awaiting T+20 | — | — |
US Market Status
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