Franklin Resources Trims Chipotle Stake by 46%

Investment firm cuts position in restaurant chain to 6.97 million shares

Mar. 13, 2026 at 8:20am

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Franklin Resources Inc. has reduced its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 46.4% in the third quarter, according to a recent SEC filing. The institutional investor now owns 6,970,594 shares of the restaurant operator's stock, worth $273.18 million.

Why it matters

The reduction in Franklin Resources' Chipotle position reflects broader shifts in investor sentiment towards the restaurant industry, which has faced headwinds from inflation, labor shortages, and changing consumer preferences.

The details

According to the filing, Franklin Resources sold 6,039,192 Chipotle shares during the third quarter, leaving it with a 0.53% stake in the company. The move comes as Chipotle has grappled with rising costs and a challenging operating environment, leading some investors to reevaluate their positions.

  • Franklin Resources filed the 13F report disclosing the stake reduction in the third quarter of 2026.

The players

Franklin Resources Inc.

A global investment management organization that provides a range of investment management and related services to institutional and individual investors.

Chipotle Mexican Grill, Inc.

A fast-casual restaurant chain known for its Mexican-inspired menu of burritos, bowls, tacos, and salads.

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The takeaway

The reduction in Franklin Resources' Chipotle stake highlights the challenges facing the restaurant industry, as investors closely monitor factors like inflation, labor costs, and changing consumer preferences that can impact profitability and growth.