Vault-13

BURLINGTON STORES INC BURL 1.25 12.15.27

NOTE 1.250%12/1 · US DOMESTIC · CUSIP 122017AD8

31 institutional holders +2 vs Q3 2025
1,471,4681.5m shares reported held*
$444.8mreported value*
5 new 6 added 5 reduced 3 sold out net bought ≈ $31.4m (+1.1m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($1.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $291.98.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

02040Q3 24: 32Q4 24: 34Q1 25: 32Q2 25: 32Q3 25: 29Q4 25: 3131Q3 24Q4 24Q1 25Q2 25Q3 25Q4 25
Numbers
QuarterHolders
Q3 202432
Q4 202434
Q1 202532
Q2 202532
Q3 202529
Q4 202531

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
20020Q4 24: 15 bought or addedQ4 24: 18 cut or sold outQ4 24Q1 25: 14 bought or addedQ1 25: 14 cut or sold outQ1 25Q2 25: 15 bought or addedQ2 25: 14 cut or sold outQ2 25Q3 25: 14 bought or addedQ3 25: 12 cut or sold outQ3 25Q4 25: 11 bought or addedQ4 25: 8 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q4 20241518
Q1 20251414
Q2 20251514
Q3 20251412
Q4 2025118

Biggest buyers

UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC New +31,000,000+31.0m
TWO SIGMA INVESTMENTS, LP Added +5,250,000+5.2m
FMR LLC Added +3,328,000+3.3m
ADVENT CAPITAL MANAGEMENT /DE/ New +1,500,000+1.5m
Police & Firemen's Retirement System of New Jersey New +1,079,000+1.1m
BlackRock, Inc. Added +875,000+875.0k
Thrivent Financial for Lutherans Added +388,000+388.0k
LOOMIS SAYLES & CO L P New +57,437+57.4k
VIRTUS ADVISERS, LLC New +16,000+16.0k
MORGAN STANLEY Added +12,000+12.0k

Biggest sellers

VOYA INVESTMENT MANAGEMENT LLC Reduced -11,055,000-11.1m
TENOR CAPITAL MANAGEMENT Co., L.P. Reduced -10,000,000-10.0m
BARCLAYS PLC Sold out -544,000-544.0k
JANE STREET GROUP, LLC Sold out -398,000-398.0k
MacKay Shields LLC Reduced -182,000-182.0k
JPMORGAN CHASE & CO Sold out -128,000-128.0k
PALISADE CAPITAL MANAGEMENT, LP Reduced -30,000-30.0k
Boussard & Gavaudan Investment Management LLP Reduced -3,147-3.1k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 FRANKLIN RESOURCES INC 0.02% of their portfolio San Mateo, CA 56,669,00056.7m $84.2m $84.2m 0.02% Unchanged
2 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio NEW YORK, NY 31,000,00031.0m $45.9m $45.9m 0.01% New
3 TWO SIGMA INVESTMENTS, LP 0.06% of their portfolio NEW YORK, NY 27,730,00027.7m $41.1m $41.1m 0.06% Added +5.2m +5,250,000
4 Alberta Investment Management Corp 0.24% of their portfolio EDMONTON, A0 27,000,00027.0m $40.2m $40.2m 0.24% Unchanged
5 Davidson Kempner Capital Management LP 0.54% of their portfolio New York, NY 25,000,00025.0m $37.0m $37.0m 0.54% Unchanged
6 MacKay Shields LLC 1.06% of their portfolio New York, NY 20,379,00020.4m $30.3m $30.3m 1.06% Reduced -182.0k -182,000
7 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio Toronto, A6 13,665,00013.7m $20.3m $20.3m 0.02% Unchanged
8 TENOR CAPITAL MANAGEMENT Co., L.P. 0.26% of their portfolio NEW YORK, NY 12,500,00012.5m $18.6m $18.6m 0.26% Reduced -10.0m -10,000,000
9 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 9,500,0009.5m $14.1m $14.1m 0.01% Unchanged
10 Thrivent Financial for Lutherans 0.02% of their portfolio Minneapolis, MN 8,553,0008.6m $12.7m $12.7m 0.02% Added +388.0k +388,000
11 VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio ATLANTA, GA 7,495,0007.5m $11.1m $11.1m 0.01% Reduced -11.1m -11,055,000
12 FMR LLC 0.00% of their portfolio BOSTON, MA 7,331,0007.3m $10.9m $10.9m 0.00% Added +3.3m +3,328,000
13 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 4,005,0004.0m $5.9m $5.9m 0.00% Unchanged
14 BlackRock, Inc. 0.00% of their portfolio New York, NY 3,700,0003.7m $5.5m $5.5m 0.00% Added +875.0k +875,000
15 SSI INVESTMENT MANAGEMENT LLC 0.35% of their portfolio Los Angeles, CA 3,440,0003.4m $5.1m $5.1m 0.35% Unchanged
16 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 3,021,0003.0m $4.5m $4.5m 0.00% Unchanged
17 Nicholas Investment Partners, LP 0.32% of their portfolio RANCHO SANTA FE, CA 3,000,0003.0m $4.4m $4.4m 0.32% Unchanged
18 ADVENT CAPITAL MANAGEMENT /DE/ 0.05% of their portfolio NEW YORK, NY 1,500,0001.5m $2.2m $2.2m 0.05% New
19 Police & Firemen's Retirement System of New Jersey 0.01% of their portfolio TRENTON, NJ 1,079,0001.1m $1.6m $1.6m 0.01% New
20 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,012,0001.0m $1.5m $1.5m 0.00% Added +12.0k +12,000
21 PALISADE CAPITAL MANAGEMENT, LP 0.04% of their portfolio FORT LEE, NJ 970,000970.0k $1.4m $1.4m 0.04% Reduced -30.0k -30,000
22 AGF MANAGEMENT LTD 0.00% of their portfolio TORONTO, A6 750,000750.0k $1.1m $1.1m 0.00% Unchanged
23 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 235,000235.0k $348.0k $348.0k 0.00% Unchanged
24 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 200,000200.0k $296.7k $296.7k 0.00% Unchanged
25 Central Pacific Bank - Trust Division 0.03% of their portfolio HONOLULU, HI 189,000189.0k $279.9k $279.9k 0.03% Unchanged
26 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 173,000173.0k $256.2k $256.2k 0.00% Unchanged
27 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 60,00060.0k $88.9k $88.9k 0.00% Unchanged
28 LOOMIS SAYLES & CO L P 0.02% of their portfolio BOSTON, MA 57,43757.4k $16.6m $16.6m 0.02% New
29 Calamos Advisors LLC 0.00% of their portfolio NAPERVILLE, IL 38,00038.0k $56.5k $56.5k 0.00% Added +10.0k +10,000
30 Boussard & Gavaudan Investment Management LLP 2.18% of their portfolio London, X0 19,46819.5k $28.8m $28.8m 2.18% Reduced -3.1k -3,147
31 VIRTUS ADVISERS, LLC 0.01% of their portfolio HARTFORD, CT 16,00016.0k $23.7k $23.7k 0.01% New