Catterton Management Company, L.L.C. 13F: Cuts BIRK Stake by $912M

Catterton Management Company, L.L.C. scaled back its exposure to Birkenstock Holding plc (NYSE: BIRK), cutting its massive position in the footwear brand by 28.3%. According to a Form 13F filing with the SEC on October 15, 2026, the firm parted with 28,146,226 shares during the quarter. Despite the sizable reduction, the fund still controls a commanding block of the London-headquartered company. Institutional filings look backward at past quarters, meaning these totals reflect positions held at the close of the period and may not represent the fund's exact setup today.

What Changed in Catterton Management's Birkenstock Position

Catterton Management trimmed its holdings from 99,416,513 shares down to 71,270,287 shares. The remaining stake carried a reported value of about $2.3 billion at the time of the filing. Even after shedding over 28 million shares, the firm remains the dominant institutional owner of the sandal and footwear maker.

Other Institutional Activity in Birkenstock

Other major fund managers adjusted their positions in Birkenstock around the same time. BAMCO Inc. grew its holdings by 5,373,396 shares, ending with 14,739,609 shares worth about $498.9 million. T. Rowe Price Investment Management, Inc. reduced its holdings by 2,534,850 shares, ending with 9,282,633 shares worth about $314.2 million. Dimensional Fund Advisors LP grew its holdings by 598,137 shares, ending with 4,647,810 shares worth about $157.3 million. Massachusetts Financial Services Co. grew its holdings by 948,537 shares, ending with 4,129,412 shares worth about $139.7 million.

Birkenstock Holding plc Stock Down 5.3%

Birkenstock shares recently traded around $34.00 as of October 16, 2026. The stock sits below its 50-day moving average of $34.18 and below its 200-day moving average of $38.70. The share price rests 33.0% below its 52-week high of $50.73 and 13.6% above its 52-week low of $29.93.

Recent Earnings

Birkenstock posted trailing-twelve-month revenue of $2.26 billion alongside $2.13 in earnings per share. The company generated a net profit margin of 14.8% and a return on equity of 12.4%. Its next earnings report is scheduled for December 17, 2026.

Analysts Set New Price Targets

Wall Street firms continue to update their views on the footwear manufacturer. On August 14, 2026, Telsey Advisory Group maintained its Outperform rating while raising its price target to $50.00 from $45.00. On the same day, Bernstein maintained a Market Perform rating and lifted its target to $55.00 from $50.00. Evercore ISI Group maintained an Outperform rating on August 14, 2026, pushing its target to $49.00 from $48.00. Guggenheim reiterated a Buy rating with a $60.00 target on August 14, 2026. Later, on September 9, 2026, BMO Capital initiated coverage with a Market Perform rating and a $35.00 price target. Analyst coverage shows a consensus Buy rating with a mean price target of $50.45.

About Birkenstock

Birkenstock Holding plc designs, manufactures, and markets footwear products, most notably its signature footbed-based sandals and closed-toe shoes. Headquartered in London, the company also offers skincare products and accessories. It distributes merchandise globally through e-commerce platforms, company-owned retail locations, and wholesale partnerships.

Bottom Line

Investors will look toward the company's upcoming earnings report on December 17, 2026, for fresh financial details. Because 13F reports lag behind real-time trading, market participants should view Catterton's adjustment as a historical look at institutional portfolio management rather than a current indicator. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.