ClearBridge Investments, an investment management company, published its “ClearBridge Growth Strategy” investor letter for Q4 2025. A copy of the letter can be downloaded here. US stocks posted 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 and very active equity approach resulted in Strategy’s third consecutive quarter of outperformance, capturing early momentum and providing downside protection during increasing volatility towards the end of the period. The strategy maintained its long-term investment philosophy of disciplined portfolio management and opportunistic capital allocation. Plus, check out the fund’s top five holdings to learn your best picks in 2025.
In its Q4 2025 investor letter, ClearBridge Growth Strategy highlighted stocks like Freeport-McMoRan Inc. (NYSE:FCX). Freeport-McMoRan Inc. (NYSE:FCX) is engaged in the extraction of mineral properties. Freeport-McMoRan Inc. (NYSE:FCX)’s monthly performance was 18.96% and its shares gained 43.44% of its value in the past 52 weeks. On January 9, 2026, shares of Freeport-McMoRan Inc. (NYSE:FCX) 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 Q4 2025 investor letter:
“More recently, this adds to Freeport-McMoRan Inc. (NYSE:FCX), a global copper producer and one of our largest contributors during the quarter, following a price decline 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) isn’t on our list of the 30 most popular stocks among hedge funds. According to our database, 83 hedge fund portfolios owned Freeport-McMoRan Inc. (NYSE:FCX) at the end of the third quarter, compared to 96 in the previous quarter. While we recognize the potential of Freeport-McMoRan Inc. (NYSE:FCX) as an investment, we believe certain AI stocks offer greater growth potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that’s also benefiting significantly from Trump-era tariffs and the offshoring trend, check out our free report on 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. Also, see our Q4 2025 Letters to Hedge Fund Investors page for more letters to hedge fund investors and other leading investors.