SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Disclose 10.4% Passive Stake in Fortrea Holdings Inc.

FMR LLC and its affiliate Abigail P. Johnson have filed an amended Schedule 13G, revealing a continued passive beneficial ownership of 10.4% in Fortrea Holdings Inc.'s common stock as of January 31, 2025.

Summary

• FMR LLC and Abigail P. Johnson, as reporting persons, collectively beneficially own 9,296,766.14 shares of Fortrea Holdings Inc. common stock.
• This ownership represents 10.4% of the total outstanding common stock of Fortrea Holdings Inc.
• FMR LLC holds sole voting power over 9,280,330.00 shares and sole dispositive power over 9,296,766.14 shares.
• Abigail P. Johnson holds sole dispositive power over 9,296,766.14 shares, with no sole or shared voting power.
• The filing is an Amendment No. 2 to Schedule 13G, indicating a change from a previous filing.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Fortrea Holdings Inc.
• FMR LLC is classified as a parent holding company or control person, while Abigail P. Johnson is classified as an individual.
• Several FMR LLC subsidiaries, including FIAM LLC, Fidelity Institutional Asset Management Trust Company, Fidelity Management & Research Company LLC, and Strategic Advisers LLC, are identified as entities that beneficially own shares, with Fidelity Management & Research Company LLC owning 5% or greater.
• Abigail P. Johnson, as Director, Chairman, and CEO of FMR LLC, and a predominant owner of FMR LLC's Series B voting common shares, is deemed part of a controlling group with respect to FMR LLC.

Sentiment

Score: 6

Explanation: The sentiment is moderately positive as a large, reputable institutional investor maintaining a significant passive stake can be viewed favorably by the market, implying confidence without intent to control.

Positives

• A significant institutional investor, FMR LLC, maintains a substantial 10.4% stake in Fortrea Holdings Inc., signaling continued confidence in the company.
• The filing explicitly states that the shares are held in the ordinary course of business and not for the purpose of changing or influencing control, indicating a passive, long-term investment approach.

Risks

• The document does not detail specific risks related to Fortrea Holdings Inc.'s operations or financial performance, as it is a beneficial ownership report.

Future Outlook

This Schedule 13G filing does not contain any forward-looking statements or guidance from Fortrea Holdings Inc. or the reporting persons regarding the issuer's future performance.

Industry Context

This filing is a routine disclosure of a significant passive ownership stake by a major investment management firm, FMR LLC, in Fortrea Holdings Inc. It does not provide specific insights into Fortrea's operational performance or broader industry trends, but rather reflects an investment decision by a large institutional player.

Stakeholder Impact

• Shareholders: The continued significant stake by FMR LLC may be viewed as a positive signal of institutional confidence in Fortrea Holdings Inc., potentially reassuring existing shareholders and attracting new investors.
• Management: The passive nature of the stake indicates that FMR LLC does not intend to influence or change the control of the issuer, allowing current management to continue their strategic direction without immediate external pressure from this shareholder.

Key Dates

Keywords

Fortrea Holdings Inc., FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Passive Investment, SEC Filing, Ownership Disclosure