On April 17, 2026, Old North State Wealth Management disclosed selling its entire FMC Corporation (FMC 1.66%) stake, an estimated $4.42 million trade based on quarterly average pricing.
What happened
According to a recent SEC filing, Old North State Wealth Management eliminated its entire stake in FMC Corporation (FMC 1.66%) by selling 295,829 shares in the first quarter. The estimated transaction value was approximately $4.42 million, based on the quarterly average share price from January through March 2026. The quarter-end value of the position dropped by $4.10 million, reflecting the combined effect of the sale and underlying price movement.
What else to know
- Top holdings after the filing:
- NYSE: LYB: $9.62 million (4.5% of AUM)
- NASDAQ: AAPL: $8.10 million (3.7% of AUM)
- NASDAQ: AMZN: $7.02 million (3.2% of AUM)
- NASDAQ: NVDA: $6.88 million (3.2% of AUM)
- NYSE: BA: $6.76 million (3.1% of AUM)
- As of April 16, 2026, FMC shares were priced at $17.58, down 50% over the past year and significantly underperforming the S&P 500’s roughly 35% gain in the same period.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $3.47 billion |
| Net Income (TTM) | ($2.24 billion) |
| Price (as of market close April 16, 2026) | $17.58 |
Company snapshot
- FMC Corporation offers crop protection chemicals, including insecticides, herbicides, fungicides, biologicals, crop nutrition, and seed treatment products.
- The company generates revenue primarily through the development, marketing, and sale of agricultural inputs aimed at enhancing crop yield and quality, with distribution via a direct sales force and strategic partners.
- Main customers include growers, distributors, and professional pest and turf management providers across North America, Latin America, EMEA, and Asia.
FMC Corporation is an agricultural sciences company serving a diverse client base with a suite of crop protection and plant health solutions. FMC Corporation offers a broad product portfolio of crop protection, plant health, and professional pest and turf management products.
What this transaction means for investors
This sale appears more like a strategic exit to cut losses than just regular portfolio rebalancing, which is important for long-term investors to consider. When a fund completely divests from a position after experiencing a significant 50% drop, it often indicates diminishing confidence in a potential recovery, rather than mere portfolio adjustments.
The company's current situation sheds light on this. FMC is undergoing a challenging reset, with annual revenue dropping 18% to around $3.47 billion, resulting in a net loss of $2.24 billion, mainly due to impairments and restructuring efforts. Even moving forward, management expects another revenue decline, projecting 2026 figures to be between $3.6 billion and $3.8 billion, alongside an adjusted EBITDA decrease of up to 17%. They are also considering strategic alternatives, including a possible sale, while aiming to trim $1 billion in debt through asset disposals. Putting this in perspective regarding the portfolio, FMC was never a core holding, with an investment of about $4.4 million, especially when compared to larger stakes like LyondellBasell at $9.6 million. This type of sentiment can make the exit easier to execute.
