Biglari Holdings Class A
BH.A
58 hedge funds and large institutions have $454M invested in Biglari Holdings Class A in 2026 Q2 according to their latest regulatory filings, with 29 funds opening new positions, 14 increasing their positions, 9 reducing their positions, and 14 closing their positions.
131% more capital inflows, than outflows
Capital inflows: $35.5M | Capital outflows: $15.4M
107% more first-time investments, than exits
New positions opened: 29 | Existing positions closed: 14
56% more repeat investments, than reductions
Existing positions increased: 14 | Existing positions reduced: 9
35% more funds holding
Funds holding: 43 → 58 (+15)
6.05% more ownership
Funds ownership: 96.01% → 102.07% (+6.1%)
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
+$8.28M |
| 2 |
First Trust Advisors
Wheaton,
Illinois
|
+$7.35M |
| 3 |
BlackRock
New York
|
+$4.47M |
| 4 |
UBS Group
Zurich,
Switzerland
|
+$4.42M |
| 5 |
Dark Forest Capital Management
San Juan,
Puerto Rico
|
+$1.75M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Trexquant Investment
Stamford,
Connecticut
|
-$4.09M |
| 2 |
Arrowstreet Capital
Boston,
Massachusetts
|
-$2.39M |
| 3 |
Millennium Management
New York
|
-$2.02M |
| 4 |
Aquatic Capital Management
Chicago,
Illinois
|
-$1.43M |
| 5 |
HRT Financial
New York
|
-$927K |
BH.A Hedge Fund Activity: Q2 2026 in Review
58 of the 8,372 institutional investors tracked by Wall St. Rank reported a position in Biglari Holdings Class A (BH.A) for Q2 2026, worth a combined $454M — up 28% from $353M a quarter earlier.
Buyers outnumbered sellers: 29 funds opened new BH.A positions and 14 closed out — a net gain of 15 holders — while 14 added to existing stakes and 9 trimmed.
The largest buyer was Jane Street, opening a new position worth an estimated $8.28M. The largest seller was Trexquant Investment, exiting entirely with an estimated $4.09M sold.
- 58 institutional investors held Biglari Holdings Class A (BH.A) as of Q2 2026, up from 43 in Q1 2026.
- Funds reported $454M of Biglari Holdings Class A stock for Q2 2026, up 28% quarter-over-quarter.
- 29 funds opened new Biglari Holdings Class A positions in Q2 2026 and 14 closed out, a net change of +15 holders.
- The largest Biglari Holdings Class A buyer in Q2 2026 was Jane Street, an estimated $8.28M added.
- The largest Biglari Holdings Class A seller in Q2 2026 was Trexquant Investment, an estimated $4.09M sold.
Based on aggregated 13F filings for Q2 2026.