ClearBridge Investments, an investment management company, released its “ClearBridge Growth Strategy” fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here. US equities reported a strong but volatile performance in the fourth quarter, with the S&P 500 Index returning 2.7% while the benchmark Russell Midcap Growth Index declined 3.7%. In this environment, a balanced, highly active share approach resulted in Strategy’s third consecutive quarter of outperformance, capturing early momentum while providing downside protection during rising volatility towards the end of the period. The strategy maintained its long-term investment philosophy of disciplined portfolio management and opportunistic capital allocation. In addition, please check the fund’s top five holdings to know its best picks in 2025.
In its fourth-quarter 2025 investor letter, ClearBridge Growth Strategy highlighted stocks such as Freeport-McMoRan Inc. (NYSE:FCX). Freeport-McMoRan Inc. (NYSE:FCX) engages in the mining of mineral properties. The one-month return for Freeport-McMoRan Inc. (NYSE:FCX) was 18.96%, and its shares gained 43.44% of their value over the last 52 weeks. On January 9, 2026, Freeport-McMoRan Inc. (NYSE:FCX) stock closed at $56.53 per share, with a market capitalization of $81.173 billion.
ClearBridge Growth Strategy stated the following regarding Freeport-McMoRan Inc. (NYSE:FCX) in its fourth quarter 2025 investor letter:
“Most recently this included adds to Freeport-McMoRan Inc. (NYSE:FCX), a global copper producer and one of our top contributors for the quarter, following a price drawdown related to an operational incident late in the third quarter. We believe management handled the situation effectively, and the dislocation reinforced our view that duration can be an advantage when owning high-quality assets tied to long-term secular demand.”
Freeport-McMoRan Inc. (NYSE:FCX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 83 hedge fund portfolios held Freeport-McMoRan Inc. (NYSE:FCX) at the end of the third quarter, compared to 96 in the previous quarter. While we acknowledge the potential of Freeport-McMoRan Inc. (NYSE:FCX) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
In another article, we covered Freeport-McMoRan Inc. (NYSE:FCX) and shared Diamond Hill Mid Cap Strategy’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2025 page for more investor letters from hedge funds and other leading investors.
