What smart money is saying about Freeport-McMoRan
No fund has written a full thesis on Freeport-McMoRan in our archive, but 5 fund letters report a position in it, most recently Clearbridge Investments Growth Strategy in September 2026.
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Fund signal · last 12 months
5 lettersToo few moves on Freeport-McMoRan yet for a clear signal
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q2 2026 and Q3 2026, 5 fund letters reported a position in Freeport-McMoRan, with 3 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 3 | 0 | 2 | 0 |
| Q2 2026 | 2 | 0 | 1 | 0 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 5 positions · 3 moves
- September 2026
“CrowdStrike, Shopify, Vertex and Freeport-McMoRan were among the largest contributors, reflective of a core advantage of the Strategy”
Freeport-McMoRan - September 2026
“We reduced the Fund's positioning across the copper sector during the quarter, exiting Grupo Mexico and materially reducing our positions in Freeport McMoRan and Teck Resources.”
Freeport-McMoRan - August 2026
“Copper exposure also contributed meaningfully, led by Freeport-McMoRan (+21%) and Teck Resources (+13%). COMEX copper hit an all-time high during August, as the metal benefited from supply disruptions and resilient demand expectations tied to electrification and grid investment themes. Following the sector’s strength, and with valuations now reflecting the higher copper prices, we used the sharp re-rating to opportunistically take profits and reduce position sizing.”
Freeport-McMoRan - June 2026
“We exited Diageo in consumer staples, DTE Energy in utilities, L3Harris Technologies in industrials, UnitedHealth in health care and Freeport-McMoRan in materials.”
Freeport-McMoRan - HoldsAugustine Asset Management Global Equity & Fixed Income StrategiesJune 2026
“Positive contributions from global technology (Taiwan Semiconductor Manufacturing, ASML, Apple), European industrials (Siemens), Japanese financials (Mizuho, Sumitomo Mitsui), and US and Asian materials (Freeport McMoran, BHP) were partially offset by Japanese industrials (Mitsui, Marubeni), US healthcare (Gilead, Regeneron, United Therapeutics, Medtronic), and European energy (Shell, TotalEnergies).”
Freeport-McMoRan
Also mentioned · 1
These funds discuss Freeport-McMoRan as a competitor, benchmark or comparable, without disclosing a position in it.
- June 2026
“Two decades ago, Atlas Copco, a Swedish mining technology company, was the largest holding in LTGG. At the time, around a quarter of the portfolio was invested in mining and resource companies, several of which went on to deliver very substantial returns. We have recently been revisiting this domain and our logic is simple. While AI token use can scale exponentially, the essential physical inputs to the AI buildout can only expand linearly; indeed, in areas such as copper, supply is barely responding to surging demand. The likes of Zijin Mining and Freeport-McMoRan deserve some more research work from us, as do MP Materials (America’s only fully-integrated rare-earth producer) and Cameco, a leading uranium supplier.”
Freeport-McMoRan
Read the letters behind these Freeport-McMoRan positions
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