Vanguard Discloses 8.8% Stake in Freeport-McMoRan

TL;DR

**Vanguard still holds a big 8.8% stake in Freeport-McMoRan, showing continued institutional confidence.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership in Freeport-McMoRan Inc. As of December 29, 2023, Vanguard beneficially owned 128,409,007 shares of Freeport-McMoRan's Common Stock, representing 8.8% of the company. This is an update to their previous holdings, indicating a slight adjustment in their passive investment in the copper and gold mining giant.

Why It Matters

This filing shows that a major institutional investor, Vanguard, maintains a significant, albeit passive, stake in Freeport-McMoRan, signaling continued confidence in the company's long-term prospects. For investors, this indicates that a large, diversified fund manager sees value in holding Freeport-McMoRan stock.

Risk Assessment

Risk Level: low — This filing is a routine update from a passive institutional investor and does not indicate any immediate risks or changes in company operations.

Analyst Insight

Investors should note that a major institutional investor like Vanguard continues to hold a substantial position in Freeport-McMoRan, suggesting a long-term, passive investment strategy. This doesn't signal an immediate buy or sell, but rather reinforces the company's status as a widely held stock among large funds.

Key Numbers

• 128,409,007 — Shares Beneficially Owned (Represents Vanguard's total ownership in Freeport-McMoRan Inc.)
• 8.8% — Percentage of Class (Indicates Vanguard's significant stake in the company's Common Stock.)
• December 29, 2023 — Event Date (The snapshot date for the reported ownership figures.)
• February 13, 2024 — Filing Date (The date this amendment was filed with the SEC.)

Key Players & Entities

• The Vanguard Group (company) — the reporting person and institutional investor
• Freeport-McMoRan Inc (company) — the subject company whose securities are being reported
• 128,409,007 shares (dollar_amount) — the total number of shares beneficially owned by Vanguard
• 8.8% (dollar_amount) — the percentage of Freeport-McMoRan's class of securities owned by Vanguard
• December 29, 2023 (date) — the date of the event which required the filing

Forward-Looking Statements

• Vanguard will likely maintain a significant, passive stake in Freeport-McMoRan Inc. for the foreseeable future. (The Vanguard Group) — high confidence, target: 2025-12-31

FAQ

Filing Documents

• tv0067-freeportmcmoraninc.htm (SC 13G/A) — 11KB
• 0001104659-24-020059.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Freeport-McMoRan Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 333 North Central Avenue Phoenix, AZ 85004-2189

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 35671D857

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: 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 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. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR