SCHEDULE 13G/A: BlackRock Discloses 15.3% Stake in Fortrea Holdings
Beneficial Ownership Report
BlackRock, Inc. has reported a beneficial ownership of 15.3% in Fortrea Holdings Inc., holding 13,807,176 shares of common stock.
Summary
- BlackRock, Inc. filed an Amendment No. 3 to Schedule 13G, disclosing its beneficial ownership in Fortrea Holdings Inc.
- As of June 30, 2025, BlackRock, Inc. beneficially owns 13,807,176 shares of Fortrea Holdings Inc. common stock.
- This ownership represents 15.3% of the total outstanding common stock of Fortrea Holdings Inc.
- BlackRock, Inc. holds sole voting power over 13,584,809 shares and sole dispositive power over 13,807,176 shares.
- No shared voting or dispositive power is reported by BlackRock, Inc.
- The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
- iShares Core S&P Small-Cap ETF, an entity managed by BlackRock, holds more than five percent of the total outstanding common stock of Fortrea Holdings Inc.
- BlackRock Fund Advisors, a subsidiary of BlackRock, Inc., beneficially owns 5% or greater of the outstanding shares of the security class.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership, providing no explicit positive or negative sentiment regarding the issuer's performance or outlook.
Positives
- The disclosure of a significant 15.3% stake by a major institutional investor like BlackRock, Inc. can signal confidence in Fortrea Holdings Inc.'s long-term prospects.
- The statement that the shares are held in the ordinary course of business and not for control purposes suggests a passive, long-term investment approach by BlackRock.
Future Outlook
The document does not provide any forward-looking statements or guidance regarding Fortrea Holdings Inc.'s business or financial performance.
Management Comments
- "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."
Industry Context
This filing reflects a significant passive investment by BlackRock, one of the world's largest asset managers, in Fortrea Holdings Inc. Such large institutional holdings are common across various industries as part of diversified investment strategies.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Update | BlackRock, Inc. issued a new Power of Attorney, effective January 21, 2025, which revokes a previous Power of Attorney dated April 30, 2023. This new document authorizes specific individuals to execute and file ownership or control-person reporting requirements on behalf of BlackRock and its subsidiaries. | 01/21/2025 | This update streamlines BlackRock's internal processes for regulatory filings, ensuring continued compliance with ownership disclosure requirements. |
Stakeholder Impact
- Shareholders: The disclosure of a significant institutional stake by BlackRock may be viewed positively, potentially increasing investor confidence and market stability for Fortrea Holdings Inc.
Key Dates
| Date | Description |
|---|---|
| 04/30/2023 | Date of previously revoked Power of Attorney. |
| 01/21/2025 | Effective date of the new Power of Attorney for BlackRock, Inc. |
| 06/30/2025 | Date of event which requires filing of this statement for Fortrea Holdings Inc. ownership. |
| 07/17/2025 | Signature date of the Schedule 13G filing by BlackRock, Inc. |
Keywords
Fortrea Holdings Inc., BlackRock Inc., Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, Equity Stake, Investment Management, iShares Core S&P Small-Cap ETF
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