SCHEDULE: Morgan Stanley Reduces Fortrea Holdings Stake

Morgan Stanley has reduced its beneficial ownership in Fortrea Holdings Inc. to 2.3% of common stock, falling below the 5% reporting threshold.

Summary

• Morgan Stanley filed an Amendment No. 1 to Schedule 13G regarding its ownership in Fortrea Holdings Inc.
• As of June 30, 2025, Morgan Stanley beneficially owns 2,036,713 shares of Fortrea Holdings Inc. common stock.
• This represents 2.3% of the class of securities.
• Morgan Stanley has ceased to be the beneficial owner of more than five percent of Fortrea Holdings Inc. common stock.

Sentiment

Score: 4

Explanation: The filing indicates Morgan Stanley has reduced its beneficial ownership in Fortrea Holdings Inc. below the 5% reporting threshold. While a routine disclosure, a large institutional investor reducing its stake can be perceived as a slightly negative signal by the market, suggesting a potential decrease in conviction or capital reallocation, though no specific negative reasons are provided.

Future Outlook

No forward-looking statements or guidance are provided in this beneficial ownership disclosure.

Industry Context

This filing is a specific disclosure of an institutional investor's stake reduction and does not provide broader industry context or trends.

Stakeholder Impact

• Shareholders: Indicates a large institutional investor has reduced its stake, which could be interpreted in various ways by the market, potentially signaling a change in investment strategy or outlook.

Key Dates

Keywords

Fortrea Holdings, Morgan Stanley, Schedule 13G, beneficial ownership, common stock, institutional ownership