Boothbay Fund Management Expands Portfolio with BURL and EXP Acquisitions

Boothbay Fund Management LLC’s recent disclosure of share acquisitions in Burlington Stores, Inc. (BURL) and Eagle Materials Inc (EXP) underscores a calculated expansion into two distinct but currently high-performing segments of the U.S. economy: off-price retail and heavy construction materials. These filings, dated March 15, 2026, reveal a broader institutional strategy by the New York-based fund to capitalize on sector-specific tailwinds while maintaining a diversified portfolio that also includes recent positions in Birkenstock and Otis Worldwide. The timing of these acquisitions suggests a strategic pivot toward companies with strong pricing power and defensive market positions.

The acquisition of Burlington Stores shares comes at a time when the off-price retail sector is benefiting from a trade-down phenomenon among American consumers. As inflationary pressures persist, middle-income shoppers are increasingly migrating from traditional department stores to discount giants like Burlington, Ross, and TJX. Burlington has been particularly aggressive in its store expansion strategy, aiming to reach 2,000 locations in the long term. Boothbay’s entry into BURL suggests a belief that the company’s inventory management and Burlington 2.0 initiative—which focuses on smaller store formats and improved merchandising—are yielding the operational efficiencies necessary to sustain margin growth in a volatile retail environment.

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Boothbay Fund Management LLC’s recent disclosure of share acquisitions in Burlington Stores, Inc.

Simultaneously, Boothbay’s investment in Eagle Materials Inc marks a strategic bet on the cyclical recovery and long-term structural demand in the construction sector. Eagle Materials is a leading provider of cement and wallboard, two essential components for both residential housing and large-scale infrastructure projects. With the U.S. facing a chronic housing shortage and federal infrastructure spending continuing to flow into state-level projects, EXP is well-positioned to leverage its pricing power. The company has historically maintained strong margins due to its localized production model, which minimizes transportation costs—a critical factor in the heavy materials industry.