SCHEDULE: Goldman Sachs Discloses 8.9% Stake in Fortrea Holdings
Beneficial Ownership Report
The Goldman Sachs Group and its subsidiary Goldman Sachs & Co. LLC have disclosed beneficial ownership of 8.9% of Fortrea Holdings Inc.'s common stock.
Summary
- The Goldman Sachs Group, Inc. and its subsidiary, Goldman Sachs & Co. LLC, have filed a Schedule 13G, reporting their beneficial ownership in Fortrea Holdings Inc.
- As of June 30, 2025, the reporting persons collectively beneficially own 8,031,366.47 shares of Fortrea Holdings Inc. Common Stock.
- This ownership represents 8.9% of the total class of securities outstanding.
- The shares are primarily held with shared voting power (8,028,366.47 shares) and shared dispositive power (8,031,366.47 shares).
Sentiment
Score: 5
Explanation: The filing is a neutral, factual disclosure of beneficial ownership. While a large institutional stake can be seen positively, the filing itself contains no performance or strategic information to warrant a higher or lower sentiment score.
Positives
- A significant institutional investor like Goldman Sachs holding a substantial stake (8.9%) may signal confidence in Fortrea Holdings Inc.'s future prospects.
Negatives
- No negative information is directly presented in this beneficial ownership disclosure.
Risks
- The filing itself does not detail specific risks related to Fortrea Holdings Inc.'s operations or financial health, as it is solely an ownership disclosure.
Future Outlook
This filing is a disclosure of current beneficial ownership and does not contain forward-looking statements or guidance regarding Fortrea Holdings Inc.'s future performance or Goldman Sachs' investment strategy.
Industry Context
This filing indicates a significant investment by a major financial institution, Goldman Sachs, in Fortrea Holdings Inc., a company operating in the clinical research organization (CRO) sector. Such institutional stakes are common and reflect ongoing portfolio management and investment strategies within the financial industry.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Attorney-in-fact for SEC filings | Papa Lette, Akash Keshari, Regina Chan, Andrzej Szyszka, Ameen Soetan, Rahail Patel, Santosh Vinayagamoorthy, Sadhiya Raffique, Matthew Pomfret, Abhishek Vishwanathan, Mariana Audeves, Veronica Mupazviriwo, Elizabeth Novak, Sam Prashanth (for GS Group) | Sadhiya Raffique, Santosh Vinayagamoorthy, D Guru Prasad, Tobi Amusan, Akash Keshari, Papa Lette, Andrzej Szyszka, Rahail Patel, Taiki Misu, Regina Chan, Mariana Audeves Martinez, Asheesh Bajaj, Abhilasha Bareja, Veronica Mupazviriwo, Sam Prashanth, Ameen Soetan, Abhishek Vishwanathan, Elizabeth Novak, Matthew Pomfret (for GS Group and GS & Co. LLC) | 2025-07-16 | Superseded previous Power of Attorney to update the list of authorized individuals for SEC filings. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Update | The Goldman Sachs Group, Inc. and Goldman Sachs & Co. LLC have updated their Power of Attorney, effective July 16, 2025, to authorize a revised list of individuals to execute and deliver SEC filings, including those under Rule 13f-1 and Regulation 13D-G. This new Power of Attorney supersedes previous versions. | 2025-07-16 | This update streamlines the process for authorized individuals to sign and file required SEC documents on behalf of Goldman Sachs entities, ensuring compliance and operational efficiency in their reporting obligations. |
Stakeholder Impact
- Shareholders of Fortrea Holdings Inc. are informed of a significant institutional investor's stake, which may influence market perception and trading activity.
- Investment professionals gain insight into the ownership structure of Fortrea Holdings Inc. and Goldman Sachs' portfolio allocations.
Key Dates
| Date | Description |
|---|---|
| 2024-07-29 | Previous Power of Attorney granted by The Goldman Sachs Group, Inc. was superseded. |
| 2024-10-01 | Previous Power of Attorney granted by Goldman Sachs & Co. LLC was superseded. |
| 2025-06-30 | Date of event which requires the filing of this statement. |
| 2025-07-16 | Date new Power of Attorney was signed by Goldman Sachs & Co. LLC and The Goldman Sachs Group, Inc. |
| 2025-07-17 | Date of filing and signature date for the Schedule 13G. |
| 2026-07-16 | Expiration date of the current Power of Attorney. |
Keywords
Fortrea Holdings Inc., Goldman Sachs, Beneficial Ownership, Schedule 13G, Institutional Investment, Common Stock, Equity Stake
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