State of Michigan Retirement System 13F: Cuts BURL Stake by $19M
Key Points
- The State of Michigan Retirement System reduced its holdings in Burlington Stores, Inc. by 70,000 shares, a decrease of 82.5%, for a total of 14,800 shares.
- Burlington Stores closed at $235.15 on October 27, 2026, while recent trading was around $235.66, up about 0.2% since the filing.
- The fund now holds a mere 0.04% of its portfolio in Burlington, ranking 46th among its 966 positions.
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On October 27, 2026, the State of Michigan Retirement System cut its stake in Burlington Stores, Inc. (BURL) by 70,000 shares, bringing its total to 14,800 shares.
BURL
Burlington Stores, Inc.
Where Burlington Fits in State of Michigan Retirement System's Portfolio
The Burlington position now makes up about 0.04% of the State of Michigan Retirement System's total reported value of $11 billion. This stake ranks 46th among the fund's 966 reported positions, indicating a significant reduction in its investment in the retailer.
Other Institutional Activity in Burlington Stores
Capital International Investors decreased its stake by 702,001 shares, leaving it with 5,466,722 shares valued at approximately $1.29 billion. In contrast, AQR Capital Management, LLC increased its holdings by 112,552 shares, bringing its total to 1,450,868 shares worth about $341.2 million.
Burlington Stores, Inc. Stock Down 2.3%
Burlington Stores closed at $235.15 on October 27, 2026, and has recently traded around $235.66, which is slightly above its event close. However, the stock is still below its 50-day and 200-day moving averages, suggesting it has struggled to gain momentum.
Recent Earnings
Burlington reported trailing twelve-month revenue of approximately $12.2 billion and an earnings per share (EPS) of $11.13. The company is scheduled to announce its next earnings report on November 27, 2026.
Insider Buying and Selling at Burlington Stores, Inc.
Jennifer Vecchio, an officer at Burlington, sold 1,678 shares on several occasions earlier in the year, with total values ranging from approximately $435,000 to $619,000. These transactions took place before October 2026 and do not imply negative sentiment toward the stock.
Analysts Set New Price Targets
On October 27, 2026, B of A Securities maintained a "Buy" rating on Burlington with a price target of $344. Earlier, Wolfe Research initiated coverage with an "Outperform" rating and a target of $356. The consensus recommendation for the stock remains a "Buy" with a mean price target of approximately $366.44.
About Burlington Stores
Burlington Stores, Inc. operates retail stores that offer a variety of branded merchandise, including apparel, footwear, and home goods. The company runs its operations primarily in the United States and Puerto Rico, focusing on providing value-oriented fashion products.
Bottom Line
Investors should watch for Burlington's upcoming earnings report on November 27, 2026, for insights into its financial performance. The significant cut by the State of Michigan Retirement System may indicate a shift in strategy or confidence regarding the retailer's future prospects.
Related Filing Alerts
Source: State of Michigan Retirement System's 13F filing on $BURL (Oct 27, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts