BUR at a glance
Burford Capital Ltd (BUR, SEC CIK 1714174) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on August 6, 2026, an 8-K current report on September 28, 2026 and Form 4 insider filings as recently as September 23, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Burford Capital Ltd (BUR) reported revenue of $413.4 million (down 24.3% from FY2024) and net income of $62.6 million. Diluted EPS was $0.28.
- As of June 30, 2026, 27 institutional investment managers tracked by SignalX reported holding Burford Capital Ltd (BUR) shares worth $274.8 million in 13F-HR filings.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $413.4M
- −24.3% vs prior year
- Insiders · 90 days
- 0 buys · 0 sells
- No open-market trades
- 13F holders
- 27 funds
- $274.8M · +1 vs prior quarter
- Latest 8-K
- Sep 28, 2026
- Item 7.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: Provider of capital primarily via balance sheet for high-value, complex legal disputes and legal finance assets worldwide
- New emphasis: Strategic shift to prioritize balance sheet capital allocation for higher return economics over private fund capital raising after Advantage Fund closed investment in 2024
- Competitive shift: Transition from foreign private issuer to US domestic public company status as of Jan 2025, impacting regulatory and reporting requirements
- Quantitative metric: Legal finance portfolio at $7.5 billion, a 50x increase from $130 million at 2009 inception; assets under management decreased to $3.2 billion in 2025 from $3.5 billion in 2024
- Noteworthy fact: BOF-C sovereign wealth fund fully utilized commitment by Sept 2024; ongoing talks to extend and expand this capital commitment
Risk Factors
- Regulatory risk: evolving legal finance laws may impair contract enforcement and increase costs in multiple jurisdictions
- Macroeconomic risk: portfolio concentration with largest correlated exposure ~5-6% of capital provision assets increases correlated loss risk
- Operational risk: cybersecurity breaches risking privileged information could cause reputational damage and regulatory actions
- Competitive risk: AI technology inaccuracies in probabilistic modeling could materially impact asset returns amid rising AI disruptions
- Financial risk: commitments exceed available capital, posing refinancing and liquidity challenges under volatile market conditions
Management Discussion & Analysis
- Revenue $413.4M in 2025, down 24% YoY from $546.1M due to lower capital provision income and net realized gains
- Operating income $232.1M (margin 56.1%) vs $390.6M (margin 71.5%) in 2024, down 41% reflecting 17% higher operating expenses
- Capital provision segment best performing: income $476.8M (14% decline); Other income down 80%, marketable securities income up 15%
- Cash & equivalents $566.4M up 21%, marketable securities $89.5M up 13%; issued 7.5% senior notes due 2033; redeemed $2025 bonds matured Aug 2025
- Management notes resilience of business model to economic cycles; ongoing risks include court backlogs, slower asset realizations, and impacts from global trade tensions and inflation
AI summary of the BUR 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Revenue $110.7M, down 42% YoY from $191.3M, driven by lower capital provision income
- Operating income $63.2M, down 56% YoY from $142.2M
- Net income $9.5M vs $105.2M YoY, with shareholder income $2.2M vs $88.3M
- Capital provision income $101.5M, down 55%, while realizations increased to $149.0M from $90.1M
- Six-month YPF reversal drove $1.7B capital provision loss and $1.6B shareholder net loss; discount rate 6.7% vs 6.1% year-end
Risk Factors
- Newly triggered risk: YPF Judgment Reversal in March 2026 caused a substantial write-down of YPF-related assets
- Concentration risk: YPF-related assets represented 46% of capital provision assets at December 31, 2025
- Valuation risk: Fair-value models require complex judgments on inherently unpredictable legal outcomes
- Regulatory or compliance risk: No material changes to 2025 Form 10-K and 1Q26 Form 10-Q disclosures
- Financial risk: Non-cash fair-value income may never be realized, adversely affecting liquidity and results of operations
AI summary of the BUR 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 7.01: Regulation FD Disclosure
- Forward-looking statements subject to Section 27A and Section 21E safe-harbor protections
- Key risks include adverse litigation outcomes and uncertain litigation resolution timing
Item EX-99.1: Item EX-99.1
- Jury awarded $5.7B in Taction Technology v. Apple, one of the largest U.S. patent verdicts reported
- Burford’s potential entitlement $1.4B, split roughly equally between its balance sheet and investment funds
Item 1.01: Entry into a Material Definitive Agreement
- $300 million 8.000% senior secured notes issued, maturing October 15, 2029
- Proceeds plus cash on hand earmarked to redeem existing 6.250% notes due 2028
Item 8.01: Other Events
- Planned $300 million senior secured notes due 2029 offering by Burford’s wholly owned finance subsidiary
- Conditional redemption of all $400 million 6.250% senior notes due 2028 on September 24, 2026
AI summaries of BUR 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for BUR
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- Fund moves. Which tracked funds opened, added or cut BUR, by share count.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Utley Charles | A | Sep 21, 2026 | 36,391 | $4.32 |
| Noel Ricky J. | A | Jun 15, 2026 | 7,121 | - |
| BOGART CHRISTOPHER P | M | Jun 15, 2026 | 121,880.3 | - |
| OCONNELL ELIZABETH | F | Jun 15, 2026 | 9,265 | $4.64 |
| Sievwright John P. | A | Jun 15, 2026 | 32,076 | - |
| Halmy Christopher A | A | Jun 15, 2026 | 22,406 | - |
| BOGART CHRISTOPHER P | M | Jun 15, 2026 | 121,880.3 | - |
| BOGART CHRISTOPHER P | F | Jun 15, 2026 | 18,294.3 | $4.64 |
Financial SummaryXBRL
| Metric | FY2024 | FY2025 |
|---|---|---|
| Profitability | ||
| Revenue | $546.1M | $413.4M |
| Operating Income | $390.6M | $232.1M |
| Net Income | $146.5M | $62.6M |
| Op. Margin | 71.5% | 56.2% |
| Net Margin | 26.8% | 15.1% |
| Balance Sheet | ||
| Total Assets | $6.2B | $6.6B |
| Equity | $2.4B | $2.4B |
| ROE | 6.1% | 2.6% |
| Per Share | ||
| EPS | $0.66 | $0.28 |
| Cash Flow | ||
| Operating CF | $216.7M | -$29.0M |
| CapEx | $661K | $284K |
Source: XBRL data in Burford Capital Ltd (BUR)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate BUR share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 27 | $274.8M |
| Q1 2026 | 26 | $230.3M |
| Q4 2025 | 26 | $400.3M |
| Q3 2025 | 25 | $546.2M |
| Q2 2025 | 24 | $573.4M |
| Q1 2025 | 21 | $365.0M |
| Q4 2024 | 16 | $278.4M |
| Q3 2024 | 14 | $304.2M |
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Source: 13F-HR filings on SEC EDGAR (aggregated from 179 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
BUR filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 8-K | Sep 28, 2026 | - | Analysis | - |
| 4 | Sep 23, 2026 | - | - | - |
| 8-K | Sep 17, 2026 | - | Analysis | - |
| 8-K | Sep 14, 2026 | - | Analysis | - |
| 10-Q | Aug 6, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Aug 6, 2026 | - | Analysis | - |
| 4 | Jun 17, 2026 | - | - | - |
| 4 | Jun 17, 2026 | - | - | - |
| 4 | Jun 17, 2026 | - | - | - |
| 4 | Jun 17, 2026 | - | - | - |
| 4 | Jun 17, 2026 | - | - | - |
| 4 | Jun 17, 2026 | - | - | - |
| 4 | Jun 17, 2026 | - | - | - |
| 4 | Jun 17, 2026 | - | - | - |
| 8-K | May 14, 2026 | - | Analysis | |
| 8-K | May 8, 2026 | - | - | |
| 10-Q | May 8, 2026 | Mar 31, 2026 | Analysis | |
| 4 | Mar 30, 2026 | - | - | - |
| 4 | Mar 30, 2026 | - | - | - |
| 4 | Mar 30, 2026 | - | - | - |
| 4 | Mar 30, 2026 | - | - | - |
| 4 | Mar 30, 2026 | - | - | - |
| 4 | Mar 30, 2026 | - | - | - |
| 4 | Mar 30, 2026 | - | - | - |
| 4 | Mar 30, 2026 | - | - | - |
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BUR SEC filings: frequently asked questions
Which institutions hold BUR stock?
As of June 30, 2026, the largest Burford Capital Ltd (BUR) holders among the 13F filers tracked by SignalX were Ameriprise Financial ($75.7 million), BlackRock ($71.1 million), AQR Capital Management ($25.7 million), Invesco Ltd ($19.6 million), State Street Corp ($15.5 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was BUR's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Burford Capital Ltd (BUR) reported revenue of $413.4 million (down 24.3% from FY2024) and net income of $62.6 million. Diluted EPS was $0.28. The figures come from the XBRL data in the 10-K.
What are the main risks in BUR's latest 10-K?
In the 10-K filed February 26, 2026, Burford Capital Ltd (BUR) flagged: Regulatory risk: evolving legal finance laws may impair contract enforcement and increase costs in multiple jurisdictions. Macroeconomic risk: portfolio concentration with largest correlated exposure ~5-6% of capital provision assets increases correlated loss risk. (AI summary of the Risk Factors section.)
What did BUR report in its latest 8-K?
Burford Capital Ltd (BUR) filed an 8-K on September 28, 2026 reporting Item 7.01 (Regulation FD Disclosure). Forward-looking statements subject to Section 27A and Section 21E safe-harbor protections.
What are the latest BUR SEC filings?
Burford Capital Ltd (BUR) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on August 6, 2026, an 8-K current report on September 28, 2026 and a Form 4 insider filing on September 23, 2026.
What is BUR's SEC CIK number?
Burford Capital Ltd (BUR)'s SEC Central Index Key (CIK) is 1714174. EDGAR lists every BUR filing under that number.
Ask anything about BUR
The research agent reads BUR's filings, financials, insider trades and 13F holders, then answers with sources.