FTRE on Nasdaq

Fortrea Holdings Inc.

In its 2026 annual report the company says: “Fortrea Holdings Inc. is a leading global contract research organization, providing biopharmaceutical product and medical device development solutions to pharmaceutical, biotechnology and medical device customers. We provide phase I through IV clinical trial management, clinical pharmacology, and consulting services for our customers.”4 It is headquartered in Durham, North Carolina.1 Its shares trade on Nasdaq under the symbol FTRE.1

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Last updated Oct 21, 2026.

Overview

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  • TickerFTRE on Nasdaq1
  • IndustryServices-Medical Laboratories1
  • HeadquartersDurham, North Carolina1
  • Business address8 Moore Drive, Durham, Nc 277092
  • Filer categoryAccelerated filer2

Fortrea Holdings Inc. is a leading global contract research organization (“CRO”), providing biopharmaceutical product and medical device development solutions to pharmaceutical, biotechnology and medical device customers. We provide phase I through IV clinical trial management, clinical pharmacology, and consulting services for our customers. For more than 30 years, we have supported our global pharmaceutical, biotechnology, and medical device customers across more than 20 therapeutic areas, providing agile delivery models that include Full Service, Functional Service Provider (“FSP”), and Hybrid structures. We believe we are well positioned to leverage our global scale, scientific and therapeutic expertise, access to clinical data-driven insights, industry network, and decades of experience to bring customers distinctive, expert solutions.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-32.0%Operating margin5
-36.2%Net margin5
1.0%Revenue growth, 20255
-175.0%Return on equity5
1.86×Debt to equity5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Regions

North America brought in 47% of the revenue Fortrea Holdings Inc. broke down this way in fiscal 2025.

  1. North America$1.3B547%up 2% from 2024
  2. Europe$851.7M531%up 6% from 2024
  3. Other Geographical Areas$582.1M521%down 7% from 2024
Regions by year
Regions202320242025
North America$1.4B$1.3B$1.3B
Europe$827.5M$800.0M$851.7M
Other Geographical Areas$616.6M$626.9M$582.1M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Selling, general and admin17¢$456.4M
  • Other costs83¢$2.3B
  • Income tax0¢$3.2M

Out of $2.7B in revenue.5 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Kept or used elsewhere100¢$113.5M

Out of $113.5M of cash from operations.5

Financial statements

Revenue675$2.7B in 2025−11% since 2021
0$1.0B$2.0B$3.0B$4.0B2021: $3.1B$3.1B20212022: $2.8B$2.8B2022−7%2023: $2.8B$2.8B2023+0%2024: $2.7B$2.7B2024−5%2025: $2.7B$2.7B2025+1%
Operating income675-$872.6M in 2025
-$1.0B-$500.0M0$500.0M2021: $114.3M$114.3M20212022: $187.1M$187.1M2022+64%2023: $32.0M$32.0M2023−83%2024: -$161.9M-$161.9M20242025: -$872.6M-$872.6M2025+439%
Net income675-$986.2M in 2025
-$1.0B-$500.0M0$500.0M2021: $98.0M$98.0M20212022: $186.2M$186.2M2022+90%2023: -$25.2M-$25.2M20232024: -$328.5M-$328.5M2024+1204%2025: -$986.2M-$986.2M2025+200%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Revenues$2.7B$2.7B$2.8B
Direct costs, exclusive of depreciation and amortization (including costs incurred from related parties of $48.8 during the year ended December 31, 2023)$2.2B$2.2B$2.3B
Selling, general and administrative expenses, exclusive of depreciation and amortization$456.4M$560.7M$448.1M
Depreciation and amortization$78.0M$85.3M$89.3M
Goodwill and other asset impairments$797.9M$0$0
Restructuring and other charges$44.1M$50.1M$21.2M
Total costs and expenses$3.6B$2.9B$2.8B
Operating (loss) income-$872.6M-$161.9M$32.0M
Interest expense-$91.4M-$123.8M-$69.7M
Foreign exchange (loss) gain-$26.9M-$10.6M$300.0K
Other, net$7.9M$21.3M$6.9M
Loss from continuing operations before income taxes-$983.0M-$275.0M-$30.5M
Income tax expense (benefit)$3.2M-$3.5M$1.2M
Loss from continuing operations-$986.2M-$271.5M-$31.7M
(Loss) income from discontinued operations, net of tax$0-$57.0M$6.5M
Net loss-$986.2M-$328.5M-$25.2M
Basic earnings (loss) per share from continued operations (in dollars per share)-$11-$3-$0
Basic earnings (loss) per share from discontinued operations (in dollars per share)$0-$1$0
Basic earnings (loss) per share (in dollars per share)-$10.81-$3.67-$0.29
Diluted earnings (loss) per share from continuing operations (in dollars per share)-$11-$3-$0
Diluted earnings (loss) per share from discontinued operations (in dollars per share)$0-$1$0
Diluted earnings (loss) per share (in dollars per share)-$10.81-$3.67-$0.29

Compare Fortrea Holdings Inc. with another company

Corporate structure

Fortrea Holdings Inc. sits at the top of its group. 80 entities, 52 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Fortrea Holdings Inc.

  • VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on Fortrea Holdings Inc., latest Apr 29, 2026
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on Fortrea Holdings Inc., latest Mar 26, 2026 (4 filings since Aug 10, 2023)
  • Sessa Capital (Master), L.P. Filed SCHEDULE 13G/A on Fortrea Holdings Inc., latest Feb 17, 2026 (3 filings since Feb 14, 2024)
  • AQR CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G/A on Fortrea Holdings Inc., latest Nov 14, 2025 (2 filings since Aug 14, 2025)
  • Goldman Sachs Filed SCHEDULE 13G on Fortrea Holdings Inc., latest Aug 13, 2025
  • FMR LLC Filed SCHEDULE 13G/A on Fortrea Holdings Inc., latest Aug 6, 2025 (5 filings since Nov 12, 2024)
  • Morgan Stanley Filed SCHEDULE 13G/A on Fortrea Holdings Inc., latest Aug 5, 2025 (2 filings since May 6, 2025)
  • BlackRock Filed SCHEDULE 13G/A on Fortrea Holdings Inc., latest Jul 17, 2025 (4 filings since Aug 8, 2023)
  • BlackRock Portfolio Management LLC Filed SCHEDULE 13G/A on Fortrea Holdings Inc., latest Jul 15, 2025 (2 filings since Apr 15, 2025)
  • BECK MACK & OLIVER LLC Filed SCHEDULE 13G/A on Fortrea Holdings Inc., latest May 15, 2025 (2 filings since Nov 14, 2024)
  • Starboard Value LP Filed SCHEDULE 13D/A on Fortrea Holdings Inc., latest May 12, 2025 (6 filings since Oct 17, 2023)
  • Pacer Advisors, Inc. Filed SCHEDULE 13G/A on Fortrea Holdings Inc., latest May 2, 2025 (2 filings since May 2, 2025)
  • Fortrea Holdings Inc. Durham, North Carolina
    • Chiltern International Limited (CIL) Subsidiary · United Kingdom
    • Fortrea (Thailand) Limited Subsidiary · Thailand
    • Fortrea Argentina S.A. Subsidiary · Argentina
    • Fortrea Asia-Pacific Inc. Subsidiary · Delaware, United States
    • Fortrea Australia Pty Ltd Subsidiary · Australia
    • Fortrea Austria GmbH Subsidiary · Austria
    • Fortrea Belgium SRL Subsidiary · Belgium
    • Fortrea Brazil Limitada Subsidiary · Brazil
    • Fortrea Canada Inc. Subsidiary · Canada
    • Fortrea Chile Limitada Subsidiary · Chile
    • Fortrea Clinical Development Mexico S.DeR.L.DeC.V. Subsidiary · Mexico
    • Fortrea Clinical Development Pvt Ltd Subsidiary · India
    • Fortrea Clinical Research LP Subsidiary · Texas, United States
    • Fortrea Clinical Research Unit Inc. Subsidiary · Florida, United States
    • Fortrea Colombia Ltda Subsidiary · Colombia
    • Fortrea Costa Rica SRL Subsidiary · Costa Rica
    • Fortrea CRU Inc. Subsidiary · Delaware, United States
    • Fortrea Data Sciences Ukraine LLC Subsidiary · Ukraine
    • Fortrea Denmark ApS Subsidiary · Denmark
    • Fortrea Development India Private Limited Subsidiary · India
    • Fortrea Development Limited Subsidiary · Israel
    • Fortrea Development Limited (Moscow) Subsidiary · Russia
    • Fortrea Development Limited (St Petersburg) Subsidiary · Russia
    • Fortrea Development Limited - Bulgarian Branch Subsidiary · Bulgaria
    • Fortrea Development Limited - o.z. Subsidiary · Slovakia
    • and 54 more

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Fortrea Holdings Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Operating-lease assets (leased space)$56.0M5 Dec 31, 2025$66.2M5 Dec 31, 2024−15.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$174.6M5 Dec 31, 2025$118.5M5 Dec 31, 2024+47.3%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$960.0M5 Dec 31, 2025$1.7B5 Dec 31, 2024−43.9%
Intangible assets, net (excluding goodwill)$622.0M5 Dec 31, 2025$655.7M5 Dec 31, 2024−5.1%
Finite-lived intangibles, gross$1.2B5 Dec 31, 2025$1.2B5 Dec 31, 2024+3.8%
Accumulated amortization$586.3M5 Dec 31, 2025$508.6M5 Dec 31, 2024+15.3%
Finite-lived intangibles, net$622.0M5 Dec 31, 2025$655.7M5 Dec 31, 2024−5.1%

Properties, in its own words

Our Company's corporate headquarters are located in Durham, North Carolina. As of December 31, 2025, all of our facilities are leased, and include 62 operating facilities located in 42 countries. Most of our facilities consist solely of office space. We lease approximately 740,000 square feet of general office and pharmacology clinic space with leases expiring through 2042. Our most significant leases are located in India, the United States, China, Japan, and the United Kingdom. The table below summarizes certain information as to principal operating and administrative facilities as of December 31, 2025.

Location · Square Footage · Nature of Occupancy

The rest of Item 2

Durham, United States · 163,410 · Leased

Leeds, United Kingdom · 68,286 · Leased

Dallas, United States · 58,806 · Leased

Bangalore, India · 56,092 · Leased

Madison, United States · 48,609 · Leased

Pune, India · 41,229 · Leased

Daytona Beach, United States · 39,822 · Leased

Shanghai, China · 27,988 · Leased

Tokyo, Japan · 15,275 · Leased

All of our primary facilities have been built or improved for the purpose of providing clinical development services. We believe that these existing facilities are suitable and adequate and will provide sufficient capacity for our currently foreseeable level of operations. We believe that if we were unable to renew a lease or if a lease were to be terminated on any of the facilities we presently lease, we could find alternate space at competitive market rates and readily relocate our operations to such new locations without material disruption to our operations.

Item 2 of the 10-K filed Feb 26, 2026.4

Leadership

Who has led Fortrea Holdings Inc., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (15)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Chiltern International Limited (CIL) United Kingdom3
  • Fortrea (Thailand) Limited Thailand3
  • Fortrea Argentina S.A. Argentina3
  • Fortrea Asia-Pacific Inc. Delaware3
  • Fortrea Australia Pty Ltd Australia3
  • Fortrea Austria GmbH Austria3
  • Fortrea Belgium SRL Belgium3
  • Fortrea Brazil Limitada Brazil3
  • Fortrea CRU Inc. Delaware3
  • Fortrea Canada Inc. Canada3
  • Fortrea Chile Limitada Chile3
  • Fortrea Clinical Development Mexico S.DeR.L.DeC.V. Mexico3
  • Fortrea Clinical Development Pvt Ltd India3
  • Fortrea Clinical Research LP Texas3
  • Fortrea Clinical Research Unit Inc. Florida3
  • Fortrea Clinical Research Unit Limited United Kingdom3
  • Fortrea Colombia Ltda Colombia3
  • Fortrea Costa Rica SRL Costa Rica3
  • Fortrea Data Sciences Ukraine LLC Ukraine3
  • Fortrea Denmark ApS Denmark3
  • Fortrea Development India Private Limited India3
  • Fortrea Development Limited Israel3
  • Fortrea Development Limited (Moscow) Russian Federation3
  • Fortrea Development Limited (St Petersburg) Russian Federation3
All 81 listed subsidiaries
  • Fortrea Development Limited - Bulgarian Branch Bulgaria3
  • Fortrea Development Limited - o.z. Slovakia3
  • Fortrea Development Limited Eesti filiaal Estonia3
  • Fortrea Development Limited Filiale Italiana Italy3
  • Fortrea Development Limited Greek Branch Greece3
  • Fortrea Development Limited Latvijas filiāle Latvia3
  • Fortrea Development Limited Maidenhead Sucursala Bucuresti Romania3
  • Fortrea Development Limited Predstavništvo Serbia3
  • Fortrea Development Limited Sucursal em Portugal Portugal3
  • Fortrea Development Limited Suomen sivuliike Finland3
  • Fortrea Development Limited Sverige filial Sweden3
  • Fortrea Development Limited filialas Lithuania3
  • Fortrea Development Limited odštěpný závod Czechia3
  • Fortrea Development Ukraine LLC Ukraine3
  • Fortrea France SARL France3
  • Fortrea GP, Inc. Nevada3
  • Fortrea Germany GmbH Germany3
  • Fortrea Guatemala S.A. Guatemala3
  • Fortrea Holdings Inc. Delaware3
  • Fortrea Hong Kong Limited Hong Kong3
  • Fortrea Hungary Kft Hungary3
  • Fortrea Inc. Maryland3
  • Fortrea Ireland Limited Ireland3
  • Fortrea Japan K.K. Japan3
  • Fortrea Korea Limited Korea, Republic Of3
  • Fortrea Latin America Inc. Delaware3
  • Fortrea Malaysia Sdn. Bhd. Malaysia3
  • Fortrea Netherlands B.V. Netherlands3
  • Fortrea New Zealand Limited New Zealand3
  • Fortrea Peru S.A. Peru3
  • Fortrea Pharmaceutical Research & Development (Beijing) Co Ltd, Chengdu Branch China3
  • Fortrea Pharmaceutical Research & Development (Beijing) Co Ltd, Nanjing Branch China3
  • Fortrea Pharmaceutical Research & Development (Beijing) Co Ltd, Shanghai Branch China3
  • Fortrea Pharmaceutical Research & Development (Beijing) Co Ltd, Xi’an Branch China3
  • Fortrea Pharmaceutical Research & Development (Beijing) Co., Ltd. Dalian Branch China3
  • Fortrea Pharmaceutical Research & Development (Beijing) Co., Ltd. Guangzhou Branch China3
  • Fortrea Pharmaceutical Research & Development (Beijing) Co., Ltd., Hangzhou Branch China3
  • Fortrea Pharmaceutical Research and Development (Beijing)Co., Ltd. China3
  • Fortrea Philippines Inc. Philippines3
  • Fortrea Poland Sp. z o.o. Poland3
  • Fortrea Receivables LLC Delaware3
  • Fortrea Research Holdings LLC Nevada3
  • Fortrea Scientific Private Limited India3
  • Fortrea Singapore Pte. Ltd. Singapore3
  • Fortrea South Africa (Pty) Limited South Africa3
  • Fortrea Spain SA Spain3
  • Fortrea Switzerland AG Switzerland3
  • Fortrea Taiwan Limited Taiwan, Province Of China3
  • Fortrea Turkey Clinical Study Limited Company Turkey3
  • Fortrea UK Holdings Limited United Kingdom3
  • Havenfern Ltd United Kingdom3
  • SnapIoT Europe s.r.l. Italy3
  • SnapIoT, Inc. Delaware3
  • Theorem Clinical Research Holdings B.V. Netherlands3
  • Theorem Clinical Research International B.V Netherlands3
  • Theorem Clinical Research Latin America B.V. Netherlands3
  • Theorem Research Associates, Inc. California3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • Silver Spinco Inc.Feb 13, 2023 to Apr 5, 20232

Timeline

  1. Sep 30, 20268-K Executive or director change29
  2. Sep 10, 20268-K Executive or director change30
  3. Jul 29, 20268-K Results of operations; Executive or director change31
  4. Jul 14, 20268-K Executive or director change32
  5. Jun 26, 20268-K Executive or director change; Regulation FD disclosure33
  6. Jun 12, 20268-K Shareholder vote34
  7. May 5, 20268-K Results of operations35
  8. Feb 26, 20268-K Results of operations36
  9. Nov 20, 20258-K Regulation FD disclosure37
  10. Nov 5, 20258-K Results of operations38
  11. Sep 22, 20258-K Executive or director change; Regulation FD disclosure39
  12. Aug 27, 20258-K Executive or director change40
  13. Aug 4, 2025New chief executive Anshul Thakral becomes CEO11
  14. May 16, 2025New chief executive Peter M. Neupert becomes CEO10
  15. Jun 9, 2023New chief executive Thomas Pike becomes CEO12

Calendar

Coming up

  1. Oct 29, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $0.12 a share, on Nov 5, 2025.41

When it reported results

  1. Jul 29, 2026Reported quarterly or annual results31
  2. May 5, 2026Reported quarterly or annual results35
  3. Feb 26, 2026Reported quarterly or annual results36
  4. Nov 5, 2025Reported quarterly or annual results38
  5. Aug 6, 2025Reported quarterly or annual results42
  6. May 12, 2025Reported quarterly or annual results43
  7. Mar 3, 2025Reported quarterly or annual results44
  8. Nov 8, 2024Reported quarterly or annual results45

Drug trials and FDA: coming up

  1. Nov 30, 2026Phase 3 trial readout expected Phase 3 trial of Leniolisib in APDS, run by Pharming Technologies B.V.: primary completion expected Nov 30, 2026 (ClinicalTrials.gov NCT05438407).46
  2. Jan 8, 2027Phase 3 trial readout expected Phase 3 trial of OTX-TKI and Aflibercept in Neovascular Age-related Macular Degeneration, run by Ocular Therapeutix, Inc.: primary completion expected Jan 8, 2027 (ClinicalTrials.gov NCT06495918).47
  3. Jan 13, 2027Phase 3 trial readout expected Phase 3 trial of Tezepelumab in Chronic Rhinosinusitis With Nasal Polyps, run by AstraZeneca: primary completion expected Jan 13, 2027 (ClinicalTrials.gov NCT06706817).48
  4. Jun 25, 2027Phase 3 trial readout expected Phase 3 trial of Tezepelumab, Budesonide/formoterol and others in Severe Asthma, run by AstraZeneca: primary completion expected Jun 25, 2027 (ClinicalTrials.gov NCT06473779).49
  5. Jul 2027Phase 2 trial readout expected Phase 2 trial of Vortosiran in Venous Thromboembolism (VTE), run by Ribocure Pharmaceuticals AB: primary completion expected Jul 2027 (ClinicalTrials.gov NCT07850453).50
  6. Sep 30, 2027Phase 2 trial readout expected Phase 2 trial of RBD1119 in Stable Coronary Artery Disease, run by Ribocure Pharmaceuticals AB: primary completion expected Sep 30, 2027 (ClinicalTrials.gov NCT07884136).51

Drug trials and FDA: recently

  1. Feb 24, 2026Phase 4 trial completed Phase 4 trial of Albuterol/Budesonide and Albuterol in Mild Asthma, run by AstraZeneca: primary completion Feb 24, 2026, no results posted yet (ClinicalTrials.gov NCT06563102).52

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). Trials from ClinicalTrials.gov, as the sponsor registered them (expected dates are the sponsor's own and often move); approvals and advisory committee meetings from the FDA. The FDA does not publish its decision (PDUFA) dates. The full markets calendar

Filings

336 filings to the SEC since October 2021: 3 annual reports, 10 quarterly reports, 46 major events, 166 insider forms, 34 large holders, 77 other. The latest 20:

  1. Sep 30, 20268-K EDGAR
  2. Sep 14, 20264 PRIMARY DOCUMENT EDGAR
  3. Sep 11, 2026144/A EDGAR
  4. Sep 11, 2026144 EDGAR
  5. Sep 10, 20264 PRIMARY DOCUMENT EDGAR
  6. Sep 10, 20264 PRIMARY DOCUMENT EDGAR
  7. Sep 10, 2026144 EDGAR
  8. Sep 10, 20268-K EDGAR
  9. Sep 9, 2026144 EDGAR
  10. Sep 9, 2026144 EDGAR
  11. Sep 9, 2026144 EDGAR
  12. Aug 19, 20264 PRIMARY DOCUMENT EDGAR
  13. Aug 19, 2026144 EDGAR
  14. Aug 19, 2026144 EDGAR
  15. Aug 17, 20263 PRIMARY DOCUMENT EDGAR
  16. Aug 7, 20264 PRIMARY DOCUMENT EDGAR
  17. Aug 6, 20264 PRIMARY DOCUMENT EDGAR
  18. Aug 6, 2026144 EDGAR
  19. Aug 5, 20264 PRIMARY DOCUMENT EDGAR
  20. Aug 5, 20264 PRIMARY DOCUMENT EDGAR

The 336 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

46 open-market trades by officers, directors and large owners since October 2021: 7 buys and 39 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 9, 2026Russell Carrie ElizabethInterim CAOSale246$16.85$4.1KForm 4
Sep 9, 2026Morais Mark A.Chief Operating OfficerSale3,149$16.85$53.1KForm 4
Aug 19, 2026Morais Mark A.Chief Operating OfficerSale4,892$18.19$89.0KForm 4
Aug 6, 2026Thakral AnshulChief Executive OfficerSale111,857$18.11$2.0MForm 4
Aug 5, 2026Thakral AnshulChief Executive OfficerSale99,869$19.16$1.9MForm 4
Aug 3, 2026SANDERS MACHELLEDirectorSale9,700$18.01$174.7KForm 4
Jun 10, 2026Morais Mark A.Chief Operating OfficerSale4,674$16.82$78.6KForm 4
Jun 2, 2026Morais Mark A.Chief Operating OfficerSale4,866$15.49$75.4KForm 4
Jun 2, 2026Mcconnell Jill G.Chief Financial OfficerSale4,866$15.49$75.4KForm 4
May 18, 2026Parks RobertChief Accounting OfficerSale2,000$13.44$26.9KForm 4
Mar 16, 2026Morais Mark A.Chief Operating OfficerSale1,804$9.22$16.6KForm 4
Mar 16, 2026Mcconnell Jill G.Chief Financial OfficerSale1,804$9.22$16.6KForm 4
Mar 10, 2026Parks RobertChief Accounting OfficerSale1,927$9.07$17.5KForm 4
Mar 10, 2026Morais Mark A.Chief Operating OfficerSale4,599$9.07$41.7KForm 4
Mar 10, 2026Mcconnell Jill G.Chief Financial OfficerSale5,061$9.07$45.9KForm 4
Feb 10, 2026Morais Mark A.Chief Operating OfficerSale1,179$13.88$16.4KForm 4
Feb 10, 2026Mcconnell Jill G.Chief Financial OfficerSale881$13.88$12.2KForm 4
Sep 16, 2025Parks RobertChief Accounting OfficerSale7,338$9.95$73.0KForm 4
Sep 9, 2025Parks RobertChief Accounting OfficerSale592$10.23$6.1KForm 4
Sep 9, 2025Hanson James S.General CounselSale1,677$10.23$17.2KForm 4

All 46 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.15,799,104$274.9M0.0%+646,709
Goldman Sachs Group Inc8,414,011$146.4M0.0%+315,494
Sessa Capital IM, L.P.4,593,550$79.9M1.4%No change
Vanguard Capital Management LLC4,181,552$72.8M0.0%+142,990
Vanguard Portfolio Management LLC3,816,627$66.4M0.0%+119,878
State Street Corp3,784,173$65.8M0.0%−325,227
Fmr LLC3,646,931$63.5M0.0%+2,402,794
Corvex Management LP2,988,551$52.0M1.6%−1,655,642
Aqr Capital Management LLC2,980,474$51.9M0.0%−317,947
Geode Capital Management, LLC2,546,771$44.3M0.0%+180,294
Charles Schwab Investment Management Inc2,489,423$43.3M0.0%−718,250
Loomis Sayles & Co L P2,440,583$42.5M0.1%+617,814
Wellington Management Group Llp2,384,349$41.5M0.0%New
Park West Asset Management LLC2,106,131$36.6M2.5%−151,193
Morgan Stanley2,094,075$36.4M0.0%−203,493
Ameriprise Financial Inc1,718,933$29.9M0.0%+139,019
Dimensional Fund Advisors LP1,650,100$28.7M0.0%+350,238
Nuveen, LLC1,421,943$24.7M0.0%+346,687
Deutsche Bank Ag\1,397,053$24.3M0.0%−1,172,221
MetLife Investment Management, LLC1,362,169$23.7M0.1%−443,015
Renaissance Technologies LLC1,289,609$22.4M0.0%−143,100
Eagle Health Investments LP1,181,274$20.6M3.4%−126,286
Northern Trust Corp1,162,577$20.2M0.0%+162,291
Allianz Asset Management GmbH1,127,337$19.6M0.0%+271,827
Citadel Advisors LLC1,023,010$17.8M0.0%+513,458

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jun 23, 2025J. French HillRepublican, HouseSale$1,001 - $15,000−317.4%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Fortrea Holdings Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARFortrea Holdings Inc.1
  • CIK0001965040
  • Employer ID (EIN)92-27964414
  • Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)8071 Services-Medical Laboratories1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address8 Moore Drive, Durham, NC 277091
  • Phone877-495-08161
  • Shares outstanding95,100,000 as of Jul 27, 20269
  • Public float$448.4M as of Jun 30, 20254
  • AuditorDeloitte & Touche LLP, Raleigh, North Carolina PCAOB ID 34; it also attests to the company’s internal control over financial reporting4
  • On EDGAR sinceFeb 13, 20231
  • Filings336 in all: 4 (138), 144 (44), 8-K (42), 3 (22), SCHEDULE 13G/A (15), 10-Q (10), SCHEDULE 13G (7), 4/A (6)1
    All 31 form types

    SC 13G (5), 8-K/A (4), CORRESP (4), DEFA14A (4), UPLOAD (4), 10-K (3), ARS (3), DEF 14A (3), S-8 (3), SCHEDULE 13D/A (3), 10-12B/A (2), DRSLTR (2), SC 13D/A (2), 10-12B (1), 144/A (1), 8-A12B (1), CERT (1), DRS (1), DRS/A (1), NT 10-Q (1), SC 13D (1), SC 13G/A (1), SEC STAFF ACTION (1)

  • Latest filingsAnnual report (10-K) Feb 26, 2026
    Quarterly report (10-Q) Jul 29, 2026
    Proxy statement (DEF 14A) Apr 27, 2026
    Latest 8-K (8-K) Sep 30, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.001 par valueFTREThe Nasdaq Stock Market LLC
Rights to Purchase Series A Preferred Stock, par value $0.001 per shareThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Fortrea Holdings Inc. names in Item 1A of its 10-K filed Feb 26, 2026: 57 risks under these headings, as written.4

  • Risks Relating to Our Business
  • Risks Relating to Regulatory and Compliance Matters
  • Risks Relating to Strategic Transactions
  • Risks Relating to Technology and Cybersecurity
  • Risks Relating to Legal Matters
  • Risks Relating to Financial Matters
  • Risks Relating to Ownership of Our Common Stock
  • If we do not generate a large number of net new business awards, or if net new business awards are delayed, terminated, reduced in scope, or fail to go to contract, our business, financial condition, results of operations, or cash flows may be materially adversely affected.
  • If we are unable to contract with suitable investigators and recruit and enroll patients for clinical trials, our business might suffer.
  • Our international operations could subject us to additional risks and expenses that could adversely impact our business or results of operations.
  • Embedded and functional outsourcing services associated with our FSP delivery models could subject us to employment liability, which may cause adverse effects on our business.
  • Our customer or therapeutic area concentrations may have a material adverse effect on our business, financial condition, results of operations or cash flows.
The other 52 risks
  • Our customers may experience insufficient funding to complete their clinical trials.
  • Our backlog might not be indicative of our future revenues, and we might not realize all of the anticipated future revenue reflected in our backlog.
  • Increased competition, including price competition, could have a material adverse effect on our revenues and profitability.
  • An inability to attract and retain experienced and qualified personnel, including key management personnel, and increased personnel costs, could adversely affect our business.
  • We depend on third parties to provide services critical to our business and depend on them to comply with applicable laws and regulations.
  • If we are unable to effectively manage our growth, our business could be adversely affected.
  • Our relationships with existing or potential customers who are in competition with each other may adversely impact the extent to which those customers use our services.
  • Our business is dependent upon access to data and an inability to access the necessary data from our data partners on commercially reasonable terms or at all could adversely affect our business.
  • If we are unable to maintain effective internal controls, our business, financial condition, results of operations, and cash flows could be materially adversely affected.
  • Our brand, products or solutions may not be favorably received by our customers.
  • Epidemics, pandemics, or widespread public health crisis and associated economic repercussions, may have an adverse impact on our business and results of operations.
  • Our effective income tax rate may fluctuate, which may adversely affect our operations, earnings and earnings per share.
  • Failure to comply with the regulations of pharmaceutical and medical device regulatory agencies, such as the FDA, the MHRA in the U.K., the EMA in the European Union, the NMPA in China, and the PMDA in Japan, could result in sanctions and/or remedies against us and have a material adverse effect on us.
  • Failure to comply with national, state, local or international environmental, health and safety (“EH&S”) laws and regulations, could result in fines and penalties and loss of licensure, and have a material adverse effect upon our business.
  • Changes in government regulation or in practices relating to the pharmaceutical, biotechnology, or medical device industries could decrease the need for certain services that we provide.
  • Failure to comply with privacy and security laws and regulations could result in fines, penalties and damage to our reputation with customers and have a material adverse effect upon our business.
  • Failure to comply with federal, state, and foreign laws and regulations, including healthcare fraud and abuse laws, anti-corruption laws and regulations, trade sanction laws and regulations, and privacy and security laws and regulations, could result in substantial penalties and our business, financial condition, results of operations, cash flows, and prospects could be adversely affected.
  • International operations may increase our exposure to liabilities under the anti-corruption laws.
  • Changes in and uncertainty regarding U.S. regulations, government policies, government funding decisions, trade policies or tariffs could have a material adverse effect upon our business.
  • A failure to identify and successfully close and integrate strategic acquisition targets or close other strategic transactions could have a material adverse effect on our business objectives and our revenues and profitability.
  • Failure to maintain the security of customer-related information or compliance with security requirements could damage our reputation with customers, cause us to incur substantial additional costs and become subject to litigation and enforcement actions.
  • Failure in our IT systems, including hardware and software failures, delays in the operation of computer and communications systems, and the failure to implement new systems or system enhancements may harm us.
  • Security breaches and unauthorized access to our or our customers’ data could harm our reputation and adversely affect our business.
  • We use internally developed and licensed technology systems to manage various aspects of clinical trials and failures of these systems, including errors in design, programming or validation, could adversely affect our business.
  • Failure to keep pace with rapid technological changes could make our services less competitive or obsolete.
  • Issues in the development, deployment and/or use of AI may result in reputational harm, liability, regulatory action or adversely affect our business, financial condition or results of operations.
  • Failure to comply with the contractual requirements of our agreements with customers or third-party service providers could result in claims and/or remedies against us and have a material adverse effect on us and our reputation could be harmed.
  • Contract research services in the drug development industry create liability risks.
  • Adverse results in material litigation matters could have a material adverse effect upon our business.
  • We face risks arising from the restructuring of our operations.
  • The failure to successfully obtain, maintain and enforce intellectual property rights and defend against challenges to our intellectual property rights could adversely affect us.
  • We are subject to continuing contingent liabilities as a result of the Spin, including potential indemnification liabilities to Labcorp, and these liabilities could materially and adversely affect our business, financial condition, results of operations, and cash flows.
  • Labcorp has indemnified us for certain liabilities. However, there can be no assurance that the indemnity will be sufficient to insure us against the full amount of such liabilities, or that Labcorp's ability to satisfy its indemnification obligations will not be impaired in the future.
  • We bear financial risk for contracts that, including for reasons beyond our control, may be underpriced, subject to cost overruns, delayed, or terminated or reduced in scope.
  • Our revenues depend on the pharmaceutical, biotechnology and medical device industries and the expenditures they make in R&D; any reductions or delays in such expenditures could materially and adversely affect our business, financial condition, results of operations, and cash flows.
  • Foreign currency fluctuations could have an adverse effect on our business and our planned use of financial instruments to limit our exposure to currency fluctuations could expose us to risks and financial losses that may adversely affect our financial condition, liquidity and results of operations.
  • Costs associated with our debt and our debt covenant requirements may limit cash flow available to invest in the ongoing needs of our business.
  • We may not be able to access the capital and credit markets on terms that are favorable to us, or at all.
  • We depend on a variety of U.S. and international financial institutions to provide us with banking services. The default or failure of one or more of the financial institutions that we rely on may adversely affect our business and financial condition.
  • Our historical combined financial information is not necessarily indicative of our future results of operations or cash flows, nor does it reflect what our results of operations or cash flows would have been as an independent public company during the periods presented.
  • Risks Relating to General Matters
  • General or macro-economic factors in the U.S. and globally may have a material adverse effect upon us, and a significant deterioration in the economy, or in the pharmaceutical, biotechnology and medical device industries, in particular, could negatively impact our services, cash collections, profitability and the availability and cost of credit.
  • Unfavorable labor environments, work stoppages, works council negotiations, or failure to comply with labor or employment laws could adversely affect our operations and have a material adverse effect on our business.
  • Failure to maintain effective internal control over financial reporting in accordance with Section 404 of the Sarbanes-Oxley Act could materially and adversely affect us.
  • Operations may be disrupted and adversely impacted by the effects of adverse weather, other natural disasters, geopolitical events, public health crises, and other events outside of our control.
  • Increasing attention to sustainability-related matters may impose additional costs on our business and expose us to new risks.
  • The market price and trading volume of our common stock may be volatile and investors may lose all or part of their investments in Fortrea common stock.
  • Our stockholder rights agreement could discourage, delay, or prevent a change in control over us and may affect the trading price of our common stock.
  • Anti-takeover provisions in our charter documents and Delaware law could discourage, delay, or prevent a change in control over us and may affect the trading price of our common stock.
  • Investors’ percentage of ownership of us may be diluted in the future.
  • We have not paid any dividends on our common stock and we do not have any current plans to pay dividends, consequently, investors’ ability to achieve a return on an investment in Fortrea common stock will depend on appreciation in the price of our common stock.
  • Securities or industry analysts may not publish favorable research about our business and our stock price and trading volume could decline.
  • Actions of activist stockholders could impact the pursuit of our business strategies, cause us to incur substantial costs, divert our management’s attention and resources, and adversely affect our business, results of operations, liquidity, financial condition, and the trading price of our common stock.

Legal proceedings

We are involved from time to time in various claims and legal actions, including investigations, disputes, litigation, and regulatory matters, arising in the ordinary course of business. Some of these actions involve claims that are substantial in amount. These matters may be threatened or commenced by various parties, including customers, current or former employees, vendors, study participants, government agencies, or others, and include, but are not limited to, commercial and contract disputes, intellectual property disputes, professional liability claims, employee-related matters, and inquiries, including subpoenas and other civil investigative demands. The outcomes of such proceedings are inherently unpredictable and subject to significant uncertainties. When we determine that we have meritorious defenses to any claims asserted, we defend ourselves vigorously; however we also consider and enter into discussions regarding settlement of disputes, and may enter into settlement agreements, if in management’s judgment, it is in the best interests of our Company to do so. In accordance with FASB Accounting Standards Codification Topic 450 “Contingencies,” we establish reserves for claims and legal actions when those matters present loss contingencies that are both probable and estimable. When loss contingencies are not both probable and estimable, we do not establish reserves.

The opening of Item 3, Legal Proceedings.4

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