Fondren Management’s Biglari Holdings Class B BH Stock Holding History

Fondren Management’s Portfolio BH Stock Details BH Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2020 Q3	$3.94M	Sell	44,221 -23,200	-34%	-$1.9M	23.24%	1
2020 Q2	$4.65M	Sell	67,421 -11,962	-15%	-$770K	17.98%	1
2020 Q1	$4.08M	Sell	79,383 -3,677	-4%	-$361K	10.36%	1
2019 Q4	$9.5M	Sell	83,060 -29,945	-26%	-$3.05M	9.73%	1
2019 Q3	$12.3M	Buy	113,005 +19,028	+20%	+$1.88M	10.25%	1
2019 Q2	$9.76M	Buy	93,977 +21,380	+29%	+$2.55M	9.29%	1
2019 Q1	$10.3M	Buy	72,597 +18,812	+35%	+$2.47M	8.17%	1
2018 Q4	$6.11M	Buy	53,785 +27,420	+104%	+$4.04M	7.98%	1
2018 Q3	$4.78M	Buy	26,365 +3,990	+18%	+$764K	4.29%	6
2018 Q2	$4.11M	Buy	+22,375	New	+$5.07M	3.14%	10

Other funds holding BH

BCC

Biglari Capital Corp San Antonio, Texas $929M AUM 39.8% 1-Year Est. Return

BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return

Dimensional Fund Advisors Austin, Texas $481B AUM 30.42% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

VCA

VIEX Capital Advisors Sunny Isles Beach, Florida $30.9M AUM 55.48% 1-Year Est. Return

Nuveen Charlotte, North Carolina $369B AUM 31.66% 1-Year Est. Return

AQR Capital Management Greenwich, Connecticut $218B AUM 29.41% 1-Year Est. Return

Prudential Financial Newark, New Jersey $81.2B AUM 27.81% 1-Year Est. Return

CCM

Corsair Capital Management New York $673M AUM 109.99% 1-Year Est. Return

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

Fondren Management's BH Position: Q3 2020 in Review

Fondren Management reduced its Biglari Holdings Class B (BH) stake by 34% in Q3 2020, selling an estimated $1.9M and leaving 44,221 shares worth $3.94M. The position accounts for 23.24% of the portfolio, ranked #1.

Fondren Management first reported a position in BH in Q2 2018 and has held it in 10 quarters since. The position peaked at $12.3M in Q3 2019. 55 funds tracked by Wall St. Rank hold BH as of Q3 2020.

Fondren Management held 44,221 shares of Biglari Holdings Class B worth $3.94M as of Q3 2020.
Fondren Management sold 23,200 Biglari Holdings Class B shares in Q3 2020, an estimated $1.9M.
Biglari Holdings Class B made up 23.24% of Fondren Management's portfolio in Q3 2020, its #1 holding.
Fondren Management first reported a position in Biglari Holdings Class B in Q2 2018 and has held it in 10 quarters since.
Fondren Management's Biglari Holdings Class B position peaked at $12.3M in Q3 2019.
55 funds tracked by Wall St. Rank held Biglari Holdings Class B as of Q3 2020.

Based on Fondren Management's 13F filing for Q3 2020, filed 13 Nov 2020.