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Howard Marks's Freeport-McMoRan Inc. (FCX) position

Yes: as of Q1 2026, Howard Marks holds 1.2M shares of FCX worth $72M (1.2% of the disclosed portfolio). Last quarter the position was reduced by 12.2%. First disclosed Q3 2021.
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Current value
$72M
Shares held
1.2M
% of portfolio
1.2%
Est. average buy price (i)
$36.91
Quarter-end price
$58.78

Estimated trade prices

Average price in quarters with purchases
$36.78
Average prices in quarters with sales
  • Q1 2026: $60.40 (170K shares sold)
  • Q4 2025: $43.38 (115K shares sold)
  • Q3 2025: $43.28 (491K shares sold)
  • Q2 2025: $37.97 (195K shares sold)
  • Q4 2024: $44.73 (662K shares sold)
  • Q2 2024: $50.40 (556K shares sold)
  • Q2 2023: $38.11 (65K shares sold)

FCX price vs Marks's position

1Y 3Y 5Y MAX
Dates
$20$40$60$8020222023202420252026New position of 1.8M shares · Q3 2021. Average closing price $35.21 · Price range $30.48–$38.731.8MsharespurchasedAdded 152K shares (8.3%) · Q4 2021. Average closing price $38.00 · Price range $31.71–$41.99152KsharespurchasedAdded 26K shares (1.3%) · Q1 2022. Average closing price $44.29 · Price range $36.04–$51.9326KsharespurchasedAdded 400K shares (19.9%) · Q2 2022. Average closing price $40.03 · Price range $29.26–$50.96400KsharespurchasedAdded 42K shares (1.7%) · Q3 2022. Average closing price $29.27 · Price range $25.09–$33.2342KsharespurchasedAdded 126K shares (5.2%) · Q4 2022. Average closing price $34.95 · Price range $27.64–$40.22126KsharespurchasedAdded 113K shares (4.4%) · Q1 2023. Average closing price $41.60 · Price range $35.51–$46.64113KsharespurchasedSold 65K shares (2.4%) · Q2 2023. Average closing price $38.11 · Price range $33.21–$43.1665KsharessoldAdded 78K shares (3.0%) · Q3 2023. Average closing price $40.29 · Price range $36.55–$44.6578KsharespurchasedAdded 212K shares (7.8%) · Q4 2023. Average closing price $36.93 · Price range $33.24–$43.20212KsharespurchasedAdded 56K shares (1.9%) · Q1 2024. Average closing price $40.38 · Price range $36.66–$47.0256KsharespurchasedSold 556K shares (18.7%) · Q2 2024. Average closing price $50.40 · Price range $47.26–$54.86556KsharessoldAdded 7K shares (0.3%) · Q3 2024. Average closing price $45.07 · Price range $39.52–$51.917KsharespurchasedSold 662K shares (27.3%) · Q4 2024. Average closing price $44.73 · Price range $38.08–$50.82662KsharessoldAdded 428K shares (24.3%) · Q1 2025. Average closing price $38.26 · Price range $34.50–$43.01428KsharespurchasedSold 195K shares (8.9%) · Q2 2025. Average closing price $37.97 · Price range $29.15–$44.67195KsharessoldSold 491K shares (24.6%) · Q3 2025. Average closing price $43.28 · Price range $35.66–$47.21491KsharessoldSold 115K shares (7.6%) · Q4 2025. Average closing price $43.38 · Price range $38.87–$53.56115KsharessoldSold 170K shares (12.2%) · Q1 2026. Average closing price $60.40 · Price range $51.40–$68.82170Ksharessold
Average closing price · filing quarter
$60.40
Price range · filing quarter
$51.40 – $68.82
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Every quarterly change

Quarter Action Shares change Est. value change Δ Own Shares held Filing date
Q1 2026 Reduced −170K −$10M −12.2% 1.2M May 20, 2026
Q4 2025 Reduced −115K −$5.0M −7.6% 1.4M Feb 17, 2026
Q3 2025 Reduced −491K −$21M −24.6% 1.5M Nov 13, 2025
Q2 2025 Reduced −195K −$7.4M −8.9% 2.0M Aug 13, 2025
Q1 2025 Added +428K +$16M +24.3% 2.2M May 15, 2025
Q4 2024 Reduced −662K −$30M −27.3% 1.8M Feb 12, 2025
Q3 2024 Added +7K +$330K +0.3% 2.4M Nov 14, 2024
Q2 2024 Reduced −556K −$28M −18.7% 2.4M Aug 14, 2024
Q1 2024 Added +56K +$2.3M +1.9% 3.0M May 14, 2024
Q4 2023 Added +212K +$7.8M +7.8% 2.9M Feb 13, 2024
Q3 2023 Added +78K +$3.2M +3.0% 2.7M Nov 13, 2023
Q2 2023 Reduced −65K −$2.5M −2.4% 2.6M Aug 14, 2023
Q1 2023 Added +113K +$4.7M +4.4% 2.7M Aug 25, 2023
Q4 2022 Added +126K +$4.4M +5.2% 2.6M Apr 21, 2023
Q3 2022 Added +42K +$1.2M +1.7% 2.5M Nov 14, 2022
Q2 2022 Added +400K +$16M +19.9% 2.4M Aug 15, 2022
Q1 2022 Added +26K +$1.2M +1.3% 2.0M May 16, 2022
Q4 2021 Added +152K +$5.8M +8.3% 2.0M Feb 14, 2022
Q3 2021 New +1.8M +$65M – 1.8M Nov 15, 2021
Data through Q1 2026 · filed May 20, 2026
19 grouped rows from 19 quarters

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Common questions

Does Howard Marks own FCX?

Yes. As of Q1 2026, Howard Marks disclosed 1.2M shares of FCX, worth $72M. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.

When did Howard Marks buy FCX?

Howard Marks first disclosed a FCX position in Q3 2021; every quarterly buy and sell since is in the table above. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.

Did Howard Marks sell FCX?

The quarter-by-quarter table above shows each sale and reduction Howard Marks disclosed in FCX. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.

How many shares of FCX does Howard Marks own?

Howard Marks disclosed 1.2M shares of FCX as of Q1 2026. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.

What price did Howard Marks pay for FCX?

Howard Marks's estimated average buy price for FCX is $36.91, from quarter-average prices weighted by the shares added each quarter. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.

How are the estimated trade prices calculated?

13F filings disclose quarter-end holdings, not trade dates or execution prices. These estimates use each covered quarter's average market price; the add average excludes the opening position and quarters without price data. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.