AXA reports 6.4% Lument Finance stake post split

AXA-affiliated entities reaffirm a 6.4% beneficial stake in Lument Finance Trust, adjusted for the company’s 1-for-10 reverse stock split.

Rhea-AI Filing Summary

Lument Finance Trust, Inc. (LFT) is the subject of this Schedule 13D/A, which updates the reported stake of AXA S.A., XL Group Investments Ltd and XL Bermuda Ltd following the company’s 1-for-10 reverse stock split effective at 5:00 p.m. Eastern Time on September 9, 2026.

As of September 10, 2026, the AXA-affiliated reporting persons may be deemed to beneficially own 334,078 shares of LFT common stock, representing 6.4% of the outstanding shares, based on 5,256,400 shares outstanding as of September 9, 2026. The amendment states that none of the reporting persons or listed related individuals bought or sold LFT shares during the 60 days before or immediately after the reverse split.

Filing Explained

The reverse split is effective; this amendment maps AXA’s reported 6.4% stake to the new share-count structure without a new trade.

This Amendment No. 11 updates the AXA-related reporting persons’ Schedule 13D after the September 9, 2026 1-for-10 reverse split became effective, so the disclosure is a post-split ownership update rather than a pending corporate action.

A reverse split consolidates shares and raises the per-share price proportionally; the supplied definition says the split itself does not change company value. Schedule 13D amendments track ownership or stated intent for holders above 5%; here, the filing reports the group’s post-split position.

The cover pages describe the 334,078 shares as shared voting and shared dispositive power, while the filing says that the reporting persons may be deemed to own them and does not treat the filing as an admission of ownership or group status.

Key Figures

Beneficially owned shares: 334,078 shares Ownership percentage: 6.4% Shares outstanding: 5,256,400 shares +2 more

5 metrics

Beneficially owned shares 334,078 shares Shares of Lument Finance Trust common stock AXA, XL Group Investments Ltd and XL Bermuda Ltd may be deemed to beneficially own as of September 10, 2026

Ownership percentage 6.4% Percent of Lument Finance Trust common stock represented by 334,078 shares beneficially owned

Shares outstanding 5,256,400 shares Outstanding Lument Finance Trust common shares as of close of business on September 9, 2026, used to compute ownership percentage

Reverse stock split ratio 1-for-10 Reverse stock split of Lument Finance Trust common stock effective at 5:00 p.m. Eastern Time on September 9, 2026

Effective date of reverse split September 9, 2026 Date and time the 1-for-10 reverse stock split of Lument Finance Trust common stock became effective

Key Terms

beneficially own, reverse stock split, Schedule 13D, beneficial ownership, +1 more

5 terms

beneficially own financial

"AXA, XL Bermuda and XLGI Ltd may be deemed to beneficially own 334,078 shares"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

reverse stock split financial

"implementation by the Company of a 1-for-10 reverse stock split of the Company's issued"

A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.

Schedule 13D regulatory

"this /A (this "Amendment No. 11") amends the filed on April 8, 2013 (the "Original ")"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

beneficial ownership financial

"filed to update the beneficial ownership information in the"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Limited Power of Attorney regulatory

"99.2 Limited Power of Attorney for Securities Ownership Reporting"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What ownership stake in LFT does AXA report in this Schedule 13D/A?

The AXA-affiliated reporting persons may be deemed to beneficially own 334,078 shares of Lument Finance Trust (LFT) common stock, representing 6.4% of the outstanding shares, based on 5,256,400 shares reported outstanding as of September 9, 2026.

How did LFT’s reverse stock split affect the AXA group’s reported holdings?

The amendment states it is filed to update beneficial ownership after Lument Finance Trust implemented a 1-for-10 reverse stock split of its issued and outstanding common shares effective September 9, 2026. The filing does not report new share purchases or sales by the AXA group around the split.

What is the total number of LFT shares outstanding used in the 6.4% calculation?

The 6.4% figure is calculated using 5,256,400 shares of Lument Finance Trust common stock reported outstanding as of the close of business on September 9, 2026, as announced by the company in a press release on that date.

Did AXA or its affiliates trade LFT shares around the effective date of the reverse split?

No. The amendment states that none of the reporting persons purchased or sold Lument Finance Trust common stock in the 60 days before or immediately after the September 9, 2026 reverse stock split effective date.

Which entities are the reporting persons in this LFT Schedule 13D/A?

The reporting persons are AXA S.A., XL Group Investments Ltd, and XL Bermuda Ltd. AXA is a French holding company for an international insurance and financial services group; XL Group Investments Ltd and XL Bermuda Ltd are Bermuda entities within that group.

What percentage of LFT does each AXA reporting person report as beneficially owned?

Each of AXA S.A., XL Group Investments Ltd and XL Bermuda Ltd reports an aggregate 334,078 shares beneficially owned, representing 6.4% of Lument Finance Trust common stock, with shared voting and shared dispositive power over those shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/11/2026 - 04:18 PM Accepted by SEC EDGAR 09/11/2026 - 04:16 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 11)

Lument Finance Trust, Inc.

(Name of Issuer)

Common Stock, $0.01 par value

(Title of Class of Securities)

55025L306

(CUSIP Number)

Anthony Gilsoul
25 Avenue Matignon,
Paris, I0, 75008
0033670092549

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

09/09/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 55025L306

1

Name of reporting person

AXA S.A.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

FRANCE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power
8	Shared Voting Power 334,078.00
9	Sole Dispositive Power
10	Shared Dispositive Power 334,078.00

11

Aggregate amount beneficially owned by each reporting person

334,078.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.4 %

14

Type of Reporting Person (See Instructions)

HC, IC

SCHEDULE 13D

CUSIP Number(s): 55025L306

1

Name of reporting person

XL Group Investments Ltd

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power
8	Shared Voting Power 334,078.00
9	Sole Dispositive Power
10	Shared Dispositive Power 334,078.00

11

Aggregate amount beneficially owned by each reporting person

334,078.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.4 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 55025L306

1

Name of reporting person

XL Bermuda Ltd

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power
8	Shared Voting Power 334,078.00
9	Sole Dispositive Power
10	Shared Dispositive Power 334,078.00

11

Aggregate amount beneficially owned by each reporting person

334,078.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.4 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, $0.01 par value
(b)	Name of Issuer: Lument Finance Trust, Inc.
(c)	Address of Issuer's Principal Executive Offices: 230 PARK AVENUE, 20TH FLOOR, NEW YORK, NEW YORK , 10169.
Item 1 Comment: Comments in Items 1 of the Schedule 13D are hereby amended in their entirety as follows: Pursuant to Rule 13d-2 promulgated under the Act, this Schedule 13D/A (this "Amendment No. 11") amends the Schedule 13D filed on April 8, 2013 (the "Original Schedule 13D"), as previously amended on May 28, 2013 by Amendment No. 1 to Schedule 13D, on February 25, 2014 by Amendment No. 2 to the Schedule 13D, on March 7, 2014 by Amendment No. 3 to the Schedule 13D, on June 24, 2014 by Amendment No. 4 to the Schedule 13D, on July 23, 2014 by Amendment No. 5 to the Schedule 13D, on December 29, 2016 by Amendment No. 6 to the Schedule 13D, on June 16, 2017 by Amendment No. 7 to the Schedule 13D, on June 23, 2017 by Amendment No. 8 to the Schedule 13D, on January 18, 2018 by amendment No. 9 and on February 22, 2022 by amendment No. 10 (the Original Schedule 13D as so amended is collectively referred to herein as the "Schedule 13D". This Amendment No. 11 relates to the common stock, par value $0.01 per share ("Common Stock"), of Lument Finance Trust, Inc. a Maryland real estate investment trust (the "Company"). All items not supplemented or restated in this Amendment remain unchanged from the Schedule 13D. This Amendment No.11 is being filed to update the beneficial ownership information in the Schedule 13D as a result of the implementation by the Company of a 1-for-10 reverse stock split of the Company's issued and outstanding shares of common stock, which became effective at 5:00 pm Eastern Time on September 9, 2026 (the "Effective Date"). None of the Reporting Persons purchased or sold any shares of Common Stock in the 60 days prior or immediately after the Effective Date.
Item 2.	Identity and Background
(b)	The address of the principal office of AXA is 25 avenue Matignon, 75008 Paris, France. The address of the principal office of XLGI Ltd and XL Bermuda is O'Hara House, One Bermudiana Road, Hamilton HM 08, Bermuda. Each of the entities, directors and executive officers named on Schedule I (each, a "Scheduled Person" and collectively, the "Scheduled Persons") is listed thereon, which Schedule I is incorporated by reference herein.
(c)	The principal businesses of AXA are providing property-casualty insurance, life & savings insurance and reinsurance coverages. AXA is a holding company for an international group of insurance, banking and related financial service companies, including each of the Reporting Persons. The principal business of XLGI Ltd is providing investment-related services solely to XL Bermuda and various other subsidiaries of XL Group Ltd. The principal business of XL Bermuda is the provision of insurance and reinsurance coverages to industrial, commercial and professional firms, insurance companies and other enterprises on a worldwide basis. The principal business of each of the Scheduled Persons is listed on Schedule I, which Schedule I is incorporated herein by reference.
(d)	During the last five years, none of the Reporting Persons or, to the best knowledge of the Reporting Persons, any of the other persons set forth on Schedule I, has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
Item 5.	Interest in Securities of the Issuer
(a)	The information contained in row 13 of each of the cover pages hereto is hereby incorporated by reference into this Item 5(a). All percentages of the outstanding Common Stock are based on the 5,256,400 shares of Common Stock outstanding as at the close of business of September 9,2026, as announced by the Issuer in its press release published on September 9, 2026 on its website. The Reporting Persons may be deemed to constitute a "person" or "group" within the meaning of Section 13(d)(3) of the Exchange Act and Rule 13d-5(b)(1) thereunder. The filing of this Schedule 13D shall not be construed as an admission of such beneficial ownership or that the Reporting Persons constitute a person or group.
(b)	As of September 10,2026, AXA, XL Bermuda and XLGI Ltd may be deemed to beneficially own 334,078 shares of Common Stock.
(c)	No transactions in Common Stock were effected during the past sixty days by the Reporting Person or, to their knowledge, any of the Scheduled Persons.
Item 7.	Material to be Filed as Exhibits.
	Item 7 is hereby amended to include the following updated exhibits: Exhibit No. Description 99.1 Schedule I List of Directors and Officers of AXA S.A., XLGI Ltd. and XL Bermuda 99.2 Limited Power of Attorney for Securities Ownership Reporting 99.3 AXA Standing Delegation of Power

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

AXA S.A.

Signature:	/s/ Anthony Gilsoul
Name/Title:	Anthony Gilsoul, Attorney-in-fact, duly authorised
Date:	09/11/2026

XL Group Investments Ltd

Signature:	/s/ Anthony Gilsoul
Name/Title:	Anthony Gilsoul, Attorney-in-fact, duly authorised
Date:	09/11/2026

XL Bermuda Ltd

Signature:	/s/ Anthony Gilsoul
Name/Title:	Anthony Gilsoul, Attorney-in-fact, duly authorised
Date:	09/11/2026