SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Disclose 9.0% Stake in Fortrea Holdings Inc.
Beneficial Ownership Disclosure
FMR LLC and its Chairman and CEO, Abigail P. Johnson, have disclosed a combined beneficial ownership of 9.0% of Fortrea Holdings Inc.'s common stock as of December 31, 2024.
Summary
- FMR LLC, a Delaware-organized entity, and Abigail P. Johnson, a U.S. citizen, have jointly filed an Amendment No. 1 to Schedule 13G regarding their beneficial ownership in Fortrea Holdings Inc.
- As of December 31, 2024, the aggregate amount beneficially owned by FMR LLC and Abigail P. Johnson is 8,086,805.93 shares of Fortrea Holdings Inc. common stock.
- This ownership represents 9.0% of the total outstanding common stock of Fortrea Holdings Inc.
- FMR LLC holds sole voting power over 8,071,837.00 shares and sole dispositive power over 8,086,805.93 shares.
- Abigail P. Johnson holds sole dispositive power over 8,086,805.93 shares, with no sole or shared voting power directly attributed to her in this 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, with subsidiaries like FIAM LLC, Fidelity Institutional Asset Management Trust Company, Fidelity Management & Research Company LLC, and Strategic Advisers LLC identified as relevant entities.
- Abigail P. Johnson is identified as a Director, Chairman, and Chief Executive Officer of FMR LLC, and is part of the Johnson family group which holds significant voting power in FMR LLC.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would indicate a positive or negative sentiment regarding the company's performance or outlook.
Future Outlook
This Schedule 13G filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance regarding Fortrea Holdings Inc.'s future performance or operations.
Industry Context
This filing indicates a significant passive investment by a major financial institution (FMR LLC) in Fortrea Holdings Inc., a company operating in the clinical research organization (CRO) sector. Such disclosures are routine for large institutional investors crossing specific ownership thresholds and reflect their portfolio allocations rather than direct operational insights into the issuer.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Internal Governance Disclosure | The filing details the internal governance structure of FMR LLC, noting that members of the Johnson family, including Abigail P. Johnson, are predominant owners of Series B voting common shares (49% voting power) and have a shareholders' voting agreement to vote in accordance with the majority vote of Series B shares. This may deem them a controlling group with respect to FMR LLC under the Investment Company Act of 1940. | NA | This information pertains to the internal control and ownership structure of the reporting entity (FMR LLC) and its affiliates, rather than direct changes to Fortrea Holdings Inc.'s corporate governance. It clarifies the reporting persons' relationship and control within their own organization. |
Stakeholder Impact
- Shareholders: The disclosure of a significant 9.0% stake by a major institutional investor like FMR LLC may be viewed positively by other shareholders, indicating institutional confidence or interest in Fortrea Holdings Inc. It also provides transparency regarding a large block holder.
Key Dates
| Date | Description |
|---|---|
| 2023-01-03 | Effective date of Power of Attorney for FMR LLC and its direct and indirect subsidiaries. |
| 2023-01-26 | Effective date of Power of Attorney for Abigail P. Johnson. |
| 2023-01-31 | Date of Schedule 13G filing by FMR LLC where Abigail P. Johnson's Power of Attorney was incorporated by reference. |
| 2024-12-31 | Date of event which requires filing of this statement (reporting period end). |
| 2025-02-06 | Date of filing of this Schedule 13G Amendment No. 1. |
Keywords
Fortrea Holdings Inc, FMR LLC, Abigail P. Johnson, Beneficial Ownership, Schedule 13G, Common Stock, Institutional Investor, SEC Filing, Ownership Disclosure
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