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 ($150.6m this quarter). Holder counts are more reliable. Shares outstanding: 1.4bn as of 2024-04-30, 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 ≈ $47.03. Options: 65 managers hold calls ($2.4bn notional), 64 hold puts ($2.1bn).
Trends to Q1 2024
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 |
| Q4 2023 | 1,426 |
| Q1 2024 | 1,457 |
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 |
| Q4 2023 | 668 | 590 |
| Q1 2024 | 751 | 618 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2023 | $1.0bn | $1.7bn | 1.65 |
| Q3 2023 | $1.1bn | $1.7bn | 1.51 |
| Q4 2023 | $1.5bn | $2.1bn | 1.41 |
| Q1 2024 | $2.4bn | $2.1bn | 0.89 |
Biggest buyers
| MORGAN STANLEY | Added | +21.3m |
| FRANKLIN RESOURCES INC | Added | +17.5m |
| Capital Research Global Investors | Added | +13.1m |
| Capital International Investors | New | +8.9m |
| Castle Hook Partners LP | Added | +5.5m |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | Added | +4.8m |
| Capital World Investors | Added | +4.4m |
| WELLINGTON MANAGEMENT GROUP LLP | Added | +4.4m |
| Asia Research & Capital Management Ltd | New | +4.2m |
| BANK OF AMERICA CORP /DE/ | Added | +4.0m |
Biggest sellers
| FMR LLC | Reduced | -14.7m |
| JPMORGAN CHASE & CO | Reduced | -13.8m |
| PUBLIC INVESTMENT FUND | Sold out | -12.9m |
| Alphinity Investment Management Pty Ltd | Sold out | -6.2m |
| TD Asset Management Inc | Reduced | -4.9m |
| FIRST TRUST ADVISORS LP | Reduced | -4.4m |
| CITADEL ADVISORS LLC | Reduced | -2.2m |
| BlackRock Inc. | Reduced | -1.8m |
| AustralianSuper Pty Ltd | Sold out | -1.6m |
| VIKING GLOBAL INVESTORS LP | Reduced | -1.5m |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $432.7m9.2m shares |
| UBS Group AG | Added | $311.1m6.6m shares |
| BANK OF AMERICA CORP /DE/ | Added | $223.0m4.7m shares |
| CITADEL ADVISORS LLC | Added | $186.1m4.0m shares |
| Castle Hook Partners LP | New | $117.5m2.5m shares |
| Parallax Volatility Advisers, L.P. | Added | $107.6m2.3m shares |
| CITIGROUP INC | Added | $81.6m1.7m shares |
| PEAK6 Investments LLC | Added | $79.0m1.7m shares |
| MILLENNIUM MANAGEMENT LLC | Added | $61.8m1.3m shares |
| GOLDMAN SACHS GROUP INC | Reduced | $55.9m1.2m shares |
Biggest puts
| JANE STREET GROUP, LLC | Reduced | $277.0m5.9m shares |
| MILLENNIUM MANAGEMENT LLC | Added | $202.1m4.3m shares |
| UBS Group AG | Added | $174.2m3.7m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $167.3m3.6m shares |
| CITADEL ADVISORS LLC | Added | $137.6m2.9m shares |
| BNP PARIBAS FINANCIAL MARKETS | Reduced | $110.6m23.5k shares |
| SIMPLEX TRADING, LLC | Reduced | $104.6m2.2m shares |
| Walleye Trading LLC | Added | $94.1m2.0m shares |
| BARCLAYS PLC | Added | $63.7m1.4m shares |
| CITIGROUP INC | Reduced | $61.0m1.3m 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 Q1 2024
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 |
|---|---|---|---|---|---|
| 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 | — | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
None reported in Q1 2024.
Holders, Q1 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.11% of their portfolio | 120.7m $5.7bn | Added +1.2m |
| BlackRock Inc. 0.12% of their portfolio | 108.9m $5.1bn | Reduced -1.8m |
| Capital Research Global Investors 0.78% of their portfolio | 72.9m $3.4bn | Added +13.1m |
| FMR LLC 0.21% of their portfolio | 65.4m $3.1bn | Reduced -14.7m |
| STATE STREET CORP 0.13% of their portfolio | 62.9m $3.0bn | Added +43.7k |
| MORGAN STANLEY 0.07% of their portfolio | 56.7m $2.7bn | Added +21.3m |
| Fisher Asset Management, LLC 1.24% of their portfolio | 56.6m $2.7bn | Added +973.1k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.21% of their portfolio | 36.9m $1.7bn | Added +2.4m |
| JPMORGAN CHASE & CO 0.06% of their portfolio | 29.8m $1.4bn | Reduced -13.8m |
| GEODE CAPITAL MANAGEMENT, LLC 0.12% of their portfolio | 27.8m $1.3bn | Added +883.0k |
| FRANKLIN RESOURCES INC 0.34% of their portfolio | 22.6m $1.1bn | Added +17.5m |
| Bank of New York Mellon Corp 0.19% of their portfolio | 21.2m $994.8m | Added +1.6m |
| Amundi 0.42% of their portfolio | 19.3m $968.8m | Reduced -210.9k |
| BANK OF AMERICA CORP /DE/ 0.08% of their portfolio | 17.9m $842.0m | Added +4.0m |
| NORTHERN TRUST CORP 0.13% of their portfolio | 16.4m $771.3m | Reduced -496.3k |
| Capital World Investors 0.12% of their portfolio | 15.2m $712.6m | Added +4.4m |
| Clearbridge Investments, LLC 0.54% of their portfolio | 14.5m $679.7m | Added +200.9k |
| AMERIPRISE FINANCIAL INC 0.16% of their portfolio | 12.4m $582.0m | Reduced -573.3k |
| JANUS HENDERSON GROUP PLC 0.30% of their portfolio | 11.8m $553.1m | Reduced -162.8k |
| DIMENSIONAL FUND ADVISORS LP 0.13% of their portfolio | 10.5m $493.6m | Reduced -229.6k |
| ROYAL BANK OF CANADA 0.12% of their portfolio | 10.1m $475.1m | Reduced -1.2m |
| VIKING GLOBAL INVESTORS LP 1.67% of their portfolio | 9.5m $447.5m | Reduced -1.5m |
| GOLDMAN SACHS GROUP INC 0.09% of their portfolio | 9.5m $445.6m | Reduced -199.0k |
| Capital International Investors 0.08% of their portfolio | 8.9m $417.8m | New |
| Invesco Ltd. 0.09% of their portfolio | 8.8m $414.4m | Added +141.3k |
| Nuveen Asset Management, LLC 0.12% of their portfolio | 8.6m $406.6m | Reduced -91.4k |
| Diamond Hill Capital Management, LLC (Investment Advisor) 1.63% of their portfolio | 8.5m $399.0m | Reduced -728.7k |
| Legal & General Group Plc 0.11% of their portfolio | 8.2m $383.3m | Reduced -23.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.09% of their portfolio | 7.9m $373.0m | Added +201.8k |
| NEUBERGER BERMAN GROUP LLC 0.28% of their portfolio | 7.1m $335.4m | Added +758.2k |
| VOYA INVESTMENT MANAGEMENT LLC 0.29% of their portfolio | 6.3m $298.4m | Added +92.6k |
| BANK OF MONTREAL /CAN/ 0.09% of their portfolio | 6.2m $282.8m | Added +1.2m |
| Allspring Global Investments Holdings, LLC 0.44% of their portfolio | 6.0m $281.7m | Reduced -366.1k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.10% of their portfolio | 5.8m $271.6m | Reduced -219.6k |
| Castle Hook Partners LP 9.49% of their portfolio | 5.6m $262.5m | Added +5.5m |
| Boston Partners 0.31% of their portfolio | 5.6m $262.4m | Added +227.5k |
| BARCLAYS PLC 0.11% of their portfolio | 5.0m $233.2m | Added +570.5k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.26% of their portfolio | 4.8m $226.2m | Added +4.8m |
| WELLINGTON MANAGEMENT GROUP LLP 0.04% of their portfolio | 4.6m $216.8m | Added +4.4m |
| Ninety One UK Ltd 0.59% of their portfolio | 4.5m $209.9m | Added +1.0m |
| Capital Wealth Planning, LLC 2.21% of their portfolio | 4.4m $207.1m | Added +85.2k |
| Asia Research & Capital Management Ltd 55.03% of their portfolio | 4.2m $198.0m | New |
| PointState Capital LP 5.30% of their portfolio | 3.7m $176.2m | New |
| MILLENNIUM MANAGEMENT LLC 0.15% of their portfolio | 3.7m $175.8m | Added +1.6m |
| UBS Group AG 0.06% of their portfolio | 3.7m $172.7m | Added +880.5k |
| MIZUHO MARKETS AMERICAS LLC 4.67% of their portfolio | 3.6m $171.2m | Reduced -31.0k |
| CITIGROUP INC 0.18% of their portfolio | 3.6m $169.9m | Added +979.4k |
| Sumitomo Mitsui Trust Group, Inc. 0.12% of their portfolio | 3.6m $168.1m | Added +16.0k |
| DEUTSCHE BANK AG\ 0.08% of their portfolio | 3.6m $167.7m | Reduced -556.5k |
| Holocene Advisors, LP 0.61% of their portfolio | 3.5m $166.1m | Added +47.8k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.15% of their portfolio | 3.5m $163.2m | Reduced -189.6k |
| Swedbank AB 0.23% of their portfolio | 3.5m $162.5m | Added +26.3k |
| PRIMECAP MANAGEMENT CO/CA/ 0.12% of their portfolio | 3.3m $157.2m | Added +24.9k |
| PRUDENTIAL FINANCIAL INC 0.20% of their portfolio | 3.0m $142.3m | Added +2.0m |
| OAKTREE CAPITAL MANAGEMENT LP 2.24% of their portfolio | 3.0m $139.8m | Added +55.8k |
| HSBC HOLDINGS PLC 0.10% of their portfolio | 3.0m $138.8m | Added +574.3k |
| ALLIANCEBERNSTEIN L.P. 0.05% of their portfolio | 2.9m $136.0m | Added +352.7k |
| Mirae Asset Global Investments Co., Ltd. 0.23% of their portfolio | 2.8m $107.2m | Added +513.3k |
| Carmignac Gestion 2.04% of their portfolio | 2.7m $128.9m | Added +7.8k |
| National Pension Service 0.15% of their portfolio | 2.7m $124.9m | Added +88.4k |
| RHUMBLINE ADVISERS 0.12% of their portfolio | 2.6m $123.0m | Added +26.4k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.15% of their portfolio | 2.6m $122.2m | Added +84.3k |
| DekaBank Deutsche Girozentrale 0.22% of their portfolio | 2.6m $117.8m | Added +447.4k |
| VAN ECK ASSOCIATES CORP 0.18% of their portfolio | 2.5m $118.8m | Reduced -95.0k |
| KEYBANK NATIONAL ASSOCIATION/OH 0.49% of their portfolio | 2.5m $118.6m | Added +50.9k |
| Aspex Management (HK) Ltd 3.21% of their portfolio | 2.5m $118.6m | Unchanged |
| California Public Employees Retirement System 0.08% of their portfolio | 2.5m $118.1m | Reduced -41.6k |
| CONGRESS ASSET MANAGEMENT CO 0.83% of their portfolio | 2.5m $116.0m | Reduced -6.2k |
| Russell Investments Group, Ltd. 0.18% of their portfolio | 2.4m $113.4m | Added +301.6k |
| WELLS FARGO & COMPANY/MN 0.03% of their portfolio | 2.4m $113.2m | Reduced -217.8k |
| Assenagon Asset Management S.A. 0.30% of their portfolio | 2.4m $112.5m | Added +1.8m |
| MOORE CAPITAL MANAGEMENT, LP 2.29% of their portfolio | 2.4m $111.5m | Added +1.5m |
| CI INVESTMENTS INC. 0.43% of their portfolio | 2.3m $107.5m | Added +1.6m |
| RAYMOND JAMES & ASSOCIATES 0.07% of their portfolio | 2.2m $105.0m | Reduced -53.7k |
| Pacific Heights Asset Management LLC 8.37% of their portfolio | 2.2m $102.3m | Reduced -25.0k |
| TWO SIGMA INVESTMENTS, LP 0.25% of their portfolio | 2.1m $100.9m | Added +822.3k |
| Perpetual Ltd 0.98% of their portfolio | 2.1m $100.5m | Added +86.7k |
| FEDERATED HERMES, INC. 0.23% of their portfolio | 2.1m $99.7m | Reduced -69.5k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.13% of their portfolio | 2.1m $98.0m | Reduced -124.3k |
| D. E. Shaw & Co., Inc. 0.12% of their portfolio | 2.0m $95.4m | Added +1.1m |
| JANE STREET GROUP, LLC 0.12% of their portfolio | 1.9m $91.7m | Added +305.6k |
| NORDEA INVESTMENT MANAGEMENT AB 0.11% of their portfolio | 1.9m $90.3m | Added +13.8k |
| CREDIT SUISSE AG/ 0.09% of their portfolio | 1.9m $90.1m | Reduced -75.5k |
| CITADEL ADVISORS LLC 0.09% of their portfolio | 1.9m $88.7m | Reduced -2.2m |
| Regal Partners Ltd 9.03% of their portfolio | 1.8m $86.7m | Added +10.4k |
| ExodusPoint Capital Management, LP 1.07% of their portfolio | 1.8m $86.6m | Added +930.6k |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.31% of their portfolio | 1.8m $84.9m | Reduced -40.8k |
| NATIXIS ADVISORS, LLC 0.19% of their portfolio | 1.8m $83.5m | Reduced -94.5k |
| BESSEMER GROUP INC 0.15% of their portfolio | 1.8m $83.0m | Reduced -319.4k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.11% of their portfolio | 1.8m $82.9m | Added +332.0k |
| PRINCIPAL FINANCIAL GROUP INC 0.05% of their portfolio | 1.6m $77.5m | Added +79.2k |
| Ceredex Value Advisors LLC 1.34% of their portfolio | 1.6m $76.5m | Reduced -559.7k |
| MACKENZIE FINANCIAL CORP 0.11% of their portfolio | 1.6m $76.2m | Added +309.0k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.15% of their portfolio | 1.6m $64.5m | Added +51.5k |
| GREAT LAKES ADVISORS, LLC 0.60% of their portfolio | 1.5m $71.1m | Added +575.2k |
| Zurich Insurance Group Ltd/FI 0.65% of their portfolio | 1.5m $71.0m | Added +363.2k |
| Homestead Advisers Corp 1.64% of their portfolio | 1.5m $70.0m | Added +91.6k |
| MARSHALL WACE, LLP 0.11% of their portfolio | 1.5m $68.7m | Reduced -567.3k |
| Penserra Capital Management LLC 0.86% of their portfolio | 1.5m $68.4m | Reduced -15.5k |
| THORNBURG INVESTMENT MANAGEMENT INC 0.95% of their portfolio | 1.5m $68.2m | Added +85.4k |