[SCHEDULE 13G/A] Fortrea Holdings Inc. SEC Filing

Rhea-AI Filing Summary

The Vanguard Group filed Amendment No. 3 to Schedule 13G disclosing a 9.35 % beneficial stake in Embecta Corp (CUSIP 29082K105) as of 06/30/2025. Vanguard reports ownership of 5,466,604 common shares.

Voting authority is limited: 0 shares with sole voting power and 90,901 shares with shared voting power. Dispositive authority is broader, covering 5,317,080 shares solely and 149,524 shares shared. The filing is made under Rule 13d-1(b) with Vanguard classified as an investment adviser (Type IA), indicating a passive investment purpose. Vanguard certifies the shares were acquired in the ordinary course of business and not to influence control of Embecta.

The document is signed by Ashley Grim, Head of Global Fund Administration, on 07/29/2025.

Positive

• Large institutional ownership: Vanguard’s 5.47 million shares represent 9.35 % of Embecta’s float, indicating significant professional investor interest.

Negative

• No sole voting power: Vanguard reports zero shares with sole voting authority, implying limited ability to influence Embecta’s governance.

Insights

Financial Analyst

TL;DR: Vanguard now owns 9.35 % of EMBC, passive intent, minimal voting rights—material disclosure but strategically neutral.

Impact assessment: The filing reveals a sizeable institutional holding that may boost market confidence in EMBC’s liquidity and governance oversight. However, Vanguard’s zero sole voting power signals no direct influence on corporate decisions, limiting immediate strategic implications. The passive nature (Rule 13d-1(b)) suggests the position is for investment exposure rather than activism. Overall, the information is noteworthy for ownership transparency but does not alter Embecta’s operational outlook.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Fortrea Holdings Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

34965K107

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 34965K107

1

Names of Reporting Persons

The Vanguard Group

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 222,603.00
7	Sole Dispositive Power 8,372,876.00
8	Shared Dispositive Power 318,498.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,691,374.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.60 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Fortrea Holdings Inc
(b)	Address of issuer's principal executive offices: 8 Moore DR, Durham, NC, 27709-0009
Item 2.
(a)	Name of person filing: The Vanguard Group
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd., Malvern, PA 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 34965K107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 8691374
(b)	Percent of class: 9.6 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 222603
	(iii) Sole power to dispose or to direct the disposition of: 8372876
	(iv) Shared power to dispose or to direct the disposition of: 318498
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

The Vanguard Group

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	07/29/2025

FAQ

How many Embecta (EMBC) shares does The Vanguard Group own?

Vanguard reports 5,466,604 common shares beneficially owned.

What percentage of Embecta’s outstanding stock is held by Vanguard?

Vanguard’s position represents 9.35 % of the common shares.

Does Vanguard have voting power over its EMBC shares?

It has 0 sole voting power and 90,901 shares with shared voting power.

Is Vanguard’s stake in Embecta considered passive?

Yes. The filing is under Rule 13d-1(b) for investment advisers, indicating passive ownership.

Who signed the Schedule 13G/A for Vanguard?

The filing was signed by Ashley Grim, Head of Global Fund Administration, on 07/29/2025.