FREEPORT-MCMORAN INC FCX
CL B · Common Stock · CUSIP 35671D857 · ISIN US35671D8570
Producer of copper and gold
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($126.0m this quarter). Holder counts are more reliable. Shares outstanding: 1.4bn as of 2023-10-31, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $37.34. Options: 47 managers hold calls ($1.1bn notional), 64 hold puts ($1.7bn).
Trends to Q3 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 1,091 |
| Q4 2022 | 1,247 |
| Q1 2023 | 1,287 |
| Q2 2023 | 1,298 |
| Q3 2023 | 1,301 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 626 | 472 |
| Q1 2023 | 660 | 524 |
| Q2 2023 | 647 | 546 |
| Q3 2023 | 629 | 531 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2022 | $1.3bn | $1.2bn | 0.95 |
| Q1 2023 | $1.1bn | $1.7bn | 1.61 |
| Q2 2023 | $1.0bn | $1.7bn | 1.65 |
| Q3 2023 | $1.1bn | $1.7bn | 1.51 |
Biggest buyers
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +12.6m |
| VIKING GLOBAL INVESTORS LP | New | +9.8m |
| Capital Wealth Planning, LLC | New | +4.3m |
| MIZUHO MARKETS AMERICAS LLC | New | +3.8m |
| BlackRock Inc. | Added | +3.3m |
| Aspex Management (HK) Ltd | New | +2.5m |
| Amundi | Added | +2.5m |
| NEUBERGER BERMAN GROUP LLC | Added | +2.4m |
| Alphinity Investment Management Pty Ltd | Added | +2.0m |
| Penserra Capital Management LLC | Added | +1.5m |
Biggest sellers
| JPMORGAN CHASE & CO | Reduced | -7.9m |
| FMR LLC | Reduced | -6.0m |
| MENORA MIVTACHIM HOLDINGS LTD. | Reduced | -3.5m |
| Holocene Advisors, LP | Reduced | -2.5m |
| TWO SIGMA INVESTMENTS, LP | Reduced | -2.3m |
| CITADEL ADVISORS LLC | Reduced | -2.1m |
| STATE STREET CORP | Reduced | -2.0m |
| Zurich Insurance Group Ltd/FI | Reduced | -2.0m |
| ROYAL BANK OF CANADA | Reduced | -1.8m |
| PointState Capital LP | Sold out | -1.4m |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $259.6m7.0m shares |
| CITADEL ADVISORS LLC | Added | $167.8m4.5m shares |
| BANK OF AMERICA CORP /DE/ | Added | $105.7m2.8m shares |
| BlackRock Inc. | Added | $84.3m2.3m shares |
| UBS Group AG | Reduced | $55.4m1.5m shares |
| Squarepoint Ops LLC | Reduced | $53.8m1.4m shares |
| Parallax Volatility Advisers, L.P. | Reduced | $48.6m1.3m shares |
| BNP PARIBAS FINANCIAL MARKETS | Added | $46.7m12.5k shares |
| Jefferies Financial Group Inc. | New | $41.0m1.1m shares |
| GOLDMAN SACHS GROUP INC | Added | $32.6m875.5k shares |
Biggest puts
| JANE STREET GROUP, LLC | Added | $303.9m8.2m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $163.4m4.4m shares |
| MILLENNIUM MANAGEMENT LLC | Added | $131.1m3.5m shares |
| CITADEL ADVISORS LLC | Reduced | $125.9m3.4m shares |
| BNP PARIBAS FINANCIAL MARKETS | Added | $113.1m30.3k shares |
| SIMPLEX TRADING, LLC | Reduced | $71.6m1.9m shares |
| UBS Group AG | Reduced | $60.3m1.6m shares |
| CITIGROUP INC | Reduced | $56.1m1.5m shares |
| Walleye Trading LLC | Added | $51.1m1.4m shares |
| Squarepoint Ops LLC | Added | $44.2m1.2m shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.5% |
| BlackRock, Inc. 13G · institution filed 2025-04-17 | 6.2% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q3 2023
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2021 | 1 | $5.0k | 2 | $10.1m | — |
| Q1 2022 | 0 | — | 2 | $7.0m | — |
| Q2 2022 | 1 | $501.2k | 1 | $321.8k | — |
| Q3 2022 | 2 | $1.1m | 0 | — | — |
| Q4 2022 | 0 | — | 1 | $3.0m | — |
| Q1 2023 | 0 | — | 1 | $504.1k | — |
| Q2 2023 | 1 | $139.6k | 0 | — | — |
| Q3 2023 | 0 | — | 0 | — | — |
None reported in Q3 2023.
Holders, Q3 2023
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.11% of their portfolio | 119.4m $4.5bn | Added +305.9k |
| BlackRock Inc. 0.12% of their portfolio | 110.8m $4.1bn | Added +3.3m |
| FMR LLC 0.27% of their portfolio | 85.3m $3.2bn | Reduced -6.0m |
| STATE STREET CORP 0.13% of their portfolio | 61.3m $2.3bn | Reduced -2.0m |
| Capital Research Global Investors 0.61% of their portfolio | 59.3m $2.2bn | Reduced -162.4k |
| Fisher Asset Management, LLC 1.16% of their portfolio | 54.7m $2.0bn | Reduced -149.0k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.16% of their portfolio | 30.0m $1.1bn | Added +12.6m |
| GEODE CAPITAL MANAGEMENT, LLC 0.12% of their portfolio | 26.4m $983.9m | Added +461.8k |
| JPMORGAN CHASE & CO 0.11% of their portfolio | 24.4m $908.5m | Reduced -7.9m |
| Bank of New York Mellon Corp 0.18% of their portfolio | 21.6m $805.7m | Reduced -54.8k |
| Amundi 0.34% of their portfolio | 19.3m $684.6m | Added +2.5m |
| NORTHERN TRUST CORP 0.13% of their portfolio | 17.8m $662.1m | Added +709.1k |
| MORGAN STANLEY 0.06% of their portfolio | 17.0m $635.5m | Reduced -461.5k |
| PUTNAM INVESTMENTS LLC 0.91% of their portfolio | 16.1m $598.6m | Reduced -103.3k |
| BANK OF AMERICA CORP /DE/ 0.07% of their portfolio | 14.9m $555.3m | Reduced -541.0k |
| Clearbridge Investments, LLC 0.53% of their portfolio | 14.8m $553.2m | Reduced -33.2k |
| AMERIPRISE FINANCIAL INC 0.16% of their portfolio | 13.1m $488.1m | Reduced -1.2m |
| PUBLIC INVESTMENT FUND 1.32% of their portfolio | 12.9m $480.9m | Unchanged |
| JANUS HENDERSON GROUP PLC 0.30% of their portfolio | 12.4m $461.2m | Reduced -1.1m |
| Invesco Ltd. 0.12% of their portfolio | 11.7m $435.3m | Reduced -158.6k |
| DIMENSIONAL FUND ADVISORS LP 0.13% of their portfolio | 10.6m $396.7m | Reduced -184.4k |
| Capital World Investors 0.08% of their portfolio | 10.2m $379.1m | Added +29.0k |
| VIKING GLOBAL INVESTORS LP 1.48% of their portfolio | 9.8m $364.3m | New |
| GOLDMAN SACHS GROUP INC 0.09% of their portfolio | 9.3m $346.7m | Reduced -288.5k |
| Diamond Hill Capital Management, LLC (Investment Advisor) 1.66% of their portfolio | 9.2m $342.6m | Reduced -396.1k |
| Nuveen Asset Management, LLC 0.12% of their portfolio | 8.8m $328.0m | Reduced -115.3k |
| Legal & General Group Plc 0.11% of their portfolio | 8.3m $308.2m | Reduced -364.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.08% of their portfolio | 7.5m $280.0m | Added +102.5k |
| TORONTO DOMINION BANK 0.23% of their portfolio | 7.5m $279.9m | Reduced -386.2k |
| NEUBERGER BERMAN GROUP LLC 0.23% of their portfolio | 6.7m $249.3m | Added +2.4m |
| Allspring Global Investments Holdings, LLC 0.42% of their portfolio | 6.4m $238.4m | Added +986.7k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.10% of their portfolio | 5.9m $218.4m | Added +761.6k |
| ROYAL BANK OF CANADA 0.06% of their portfolio | 5.5m $203.2m | Reduced -1.8m |
| Alphinity Investment Management Pty Ltd 3.22% of their portfolio | 5.4m $201.0m | Added +2.0m |
| BANK OF MONTREAL /CAN/ 0.08% of their portfolio | 4.7m $218.5m | Added +82.6k |
| FIRST TRUST ADVISORS LP 0.19% of their portfolio | 4.4m $164.0m | Reduced -171.1k |
| Capital Wealth Planning, LLC 1.97% of their portfolio | 4.3m $160.2m | New |
| TD Asset Management Inc 0.19% of their portfolio | 4.3m $159.6m | Reduced -309.1k |
| FRANKLIN RESOURCES INC 0.07% of their portfolio | 3.9m $145.7m | Reduced -511.0k |
| Ninety One UK Ltd 0.45% of their portfolio | 3.8m $142.3m | Added +312.0k |
| MIZUHO MARKETS AMERICAS LLC 5.27% of their portfolio | 3.8m $141.4m | New |
| DEUTSCHE BANK AG\ 0.09% of their portfolio | 3.8m $141.4m | Added +373.0k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.08% of their portfolio | 3.7m $137.8m | Added +124.8k |
| Sumitomo Mitsui Trust Group, Inc. 0.11% of their portfolio | 3.6m $134.3m | Reduced -51.5k |
| MILLENNIUM MANAGEMENT LLC 0.14% of their portfolio | 3.5m $130.8m | Reduced -324.2k |
| Swedbank AB 0.24% of their portfolio | 3.5m $129.4m | Added +48.5k |
| UBS Group AG 0.06% of their portfolio | 3.3m $124.5m | Added +216.7k |
| PRIMECAP MANAGEMENT CO/CA/ 0.10% of their portfolio | 3.3m $122.1m | Added +5.8k |
| BARCLAYS PLC 0.08% of their portfolio | 3.1m $116.4m | Reduced -776.8k |
| ALLIANCEBERNSTEIN L.P. 0.05% of their portfolio | 3.1m $116.0m | Reduced -723.8k |
| CITIGROUP INC 0.15% of their portfolio | 2.9m $107.8m | Reduced -1.3m |
| WELLS FARGO & COMPANY/MN 0.03% of their portfolio | 2.8m $102.7m | Reduced -477.1k |
| OAKTREE CAPITAL MANAGEMENT LP 1.53% of their portfolio | 2.7m $100.9m | Added +78.5k |
| California Public Employees Retirement System 0.08% of their portfolio | 2.6m $98.5m | Added +33.3k |
| RHUMBLINE ADVISERS 0.11% of their portfolio | 2.6m $98.5m | Reduced -22.8k |
| Aspex Management (HK) Ltd 2.89% of their portfolio | 2.5m $94.0m | New |
| HSBC HOLDINGS PLC 0.10% of their portfolio | 2.5m $93.8m | Added +365.7k |
| National Pension Service 0.15% of their portfolio | 2.5m $91.6m | Added +18.9k |
| KEYBANK NATIONAL ASSOCIATION/OH 0.44% of their portfolio | 2.5m $92.0m | Added +13.1k |
| CONGRESS ASSET MANAGEMENT CO 0.81% of their portfolio | 2.5m $91.9m | Added +13.9k |
| Perpetual Ltd 0.93% of their portfolio | 2.4m $90.2m | Added +29.1k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.14% of their portfolio | 2.4m $89.9m | Added +4.2k |
| Mirae Asset Global Investments Co., Ltd. 0.19% of their portfolio | 2.4m $87.8m | Added +160.8k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.12% of their portfolio | 2.3m $85.5m | Reduced -823.7k |
| TWO SIGMA INVESTMENTS, LP 0.24% of their portfolio | 2.3m $85.2m | Reduced -2.3m |
| FEDERATED HERMES, INC. 0.22% of their portfolio | 2.2m $82.6m | Added +220.6k |
| VAN ECK ASSOCIATES CORP 0.18% of their portfolio | 2.2m $82.3m | Added +47.0k |
| RAYMOND JAMES & ASSOCIATES 0.07% of their portfolio | 2.2m $81.3m | Added +94.1k |
| Pacific Heights Asset Management LLC 7.69% of their portfolio | 2.2m $81.3m | Unchanged |
| Russell Investments Group, Ltd. 0.16% of their portfolio | 2.1m $80.1m | Reduced -36.2k |
| BESSEMER GROUP INC 0.17% of their portfolio | 2.1m $79.0m | Added +15.7k |
| DekaBank Deutsche Girozentrale 0.18% of their portfolio | 2.1m $76.2m | Added +120.9k |
| PRUDENTIAL FINANCIAL INC 0.12% of their portfolio | 2.0m $76.4m | Added +798.5k |
| Ceredex Value Advisors LLC 1.28% of their portfolio | 2.0m $72.8m | Added +269.0k |
| NORDEA INVESTMENT MANAGEMENT AB 0.10% of their portfolio | 1.9m $72.1m | Reduced -19.8k |
| TWO SIGMA ADVISERS, LP 0.18% of their portfolio | 1.9m $71.2m | Added +474.5k |
| Homestead Advisers Corp 1.94% of their portfolio | 1.9m $70.0m | Added +29.5k |
| NATIXIS ADVISORS, LLC 0.21% of their portfolio | 1.8m $68.6m | Added +21.6k |
| CREDIT SUISSE AG/ 0.07% of their portfolio | 1.8m $68.4m | Added +115.5k |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.32% of their portfolio | 1.8m $68.4m | Added +13.7k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.10% of their portfolio | 1.8m $67.6m | Added +284.9k |
| Somerset Capital Management LLP 11.06% of their portfolio | 1.7m $64.7m | Reduced -41.7k |
| TWINBEECH CAPITAL LP 1.24% of their portfolio | 1.7m $64.7m | Added +262.1k |
| VOYA INVESTMENT MANAGEMENT LLC 0.07% of their portfolio | 1.7m $62.2m | Reduced -53.3k |
| CIBC WORLD MARKETS CORP 0.60% of their portfolio | 1.7m $61.7m | Added +850.7k |
| D. E. Shaw & Co., Inc. 0.10% of their portfolio | 1.6m $59.3m | Added +253.0k |
| PRINCIPAL FINANCIAL GROUP INC 0.04% of their portfolio | 1.6m $58.9m | Reduced -6.0k |
| Carmignac Gestion 1.06% of their portfolio | 1.6m $58.0m | Reduced -115.2k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.13% of their portfolio | 1.5m $56.8m | Added +2.1k |
| Penserra Capital Management LLC 1.16% of their portfolio | 1.5m $55.9m | Added +1.5m |
| Korea Investment CORP 0.16% of their portfolio | 1.5m $55.7m | Added +74.5k |
| JANE STREET GROUP, LLC 0.09% of their portfolio | 1.5m $55.3m | Reduced -272.4k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.12% of their portfolio | 1.4m $53.2m | Reduced -2.6k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.13% of their portfolio | 1.4m $52.9m | Reduced -56.9k |
| NATIONAL BANK OF CANADA /FI/ 0.09% of their portfolio | 1.4m $51.9m | Added +639.6k |
| LANSDOWNE PARTNERS (UK) LLP 4.56% of their portfolio | 1.3m $49.8m | Reduced -543.2k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.10% of their portfolio | 1.3m $49.8m | Added +101.1k |
| GABELLI FUNDS LLC 0.39% of their portfolio | 1.3m $48.5m | Added +4.3k |
| MACKENZIE FINANCIAL CORP 0.08% of their portfolio | 1.3m $45.8m | Reduced -2.8k |
| STIFEL FINANCIAL CORP 0.07% of their portfolio | 1.2m $46.5m | Added +91.0k |