SCHEDULE: Millennium Entities Disclose First Horizon Stake

Millennium Management and related entities have disclosed their beneficial ownership of First Horizon Corporation common stock, totaling up to 3.8% of the class.

Summary

• Millennium Management LLC, Millennium Group Management LLC, and Israel A. Englander collectively reported beneficial ownership of 18,817,089 shares of First Horizon Corporation common stock.
• This ownership represents 3.8% of the total class of First Horizon Corporation's common stock.
• Integrated Core Strategies (US) LLC, also a reporting person in this joint filing, disclosed beneficial ownership of 15,523,772 shares, representing 3.2% of the class.
• All reporting persons hold their shares with shared voting power and shared dispositive power.
• The filing certifies that the securities were not acquired and are not held for the purpose of changing or influencing the control of First Horizon Corporation.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a routine disclosure of passive institutional ownership, which provides transparency but does not inherently signal positive or negative operational or strategic developments for the issuer.

Positives

• The filing provides increased transparency regarding significant institutional holdings in First Horizon Corporation.
• The explicit certification of passive investment intent, disclaiming any purpose to change or influence control, may reassure current management and investors.

Future Outlook

This filing is a disclosure of current beneficial ownership and does not contain forward-looking statements or guidance regarding the issuer's future performance or operations.

Management Comments

• Gil Raviv, Global General Counsel for Integrated Core Strategies (US) LLC, Millennium Management LLC, and Millennium Group Management LLC, certified the information.
• Israel A. Englander also signed and certified the information in the statement.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are standard disclosures for institutional investors holding a significant but non-controlling stake, providing transparency on ownership structure within the financial services sector. This type of filing is routine for large investment firms managing diverse portfolios.

Comparison to Industry Standards

• This filing is a standard regulatory disclosure of beneficial ownership and does not contain performance metrics or operational results that would allow for direct comparison to industry benchmarks or specific comparable companies.

Corporate Governance

Related Party Transactions

• The filing discloses the relationship between the reporting persons: Integrated Core Strategies (US) LLC is managed by Integrated Holding Group LP, whose general partner is Millennium Management LLC. Millennium Group Management LLC is the managing member of Millennium Management LLC, and Israel A. Englander is the sole voting trustee of the managing member of Millennium Group Management LLC. This structure explains the shared beneficial ownership.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional holdings, confirming a passive investment approach by Millennium entities.
• Management: Reassures management that the stake is not intended for control or activist purposes.

Key Dates

Keywords

First Horizon Corporation, Millennium Management, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, SEC Filing