Biglari Holdings Class A
BH.A
43 hedge funds and large institutions have $353M invested in Biglari Holdings Class A in 2026 Q1 according to their latest regulatory filings, with 14 funds opening new positions, 17 increasing their positions, 5 reducing their positions, and 5 closing their positions.
240% more repeat investments, than reductions
Existing positions increased: 17 | Existing positions reduced: 5
180% more first-time investments, than exits
New positions opened: 14 | Existing positions closed: 5
19% more funds holding
Funds holding: 36 → 43 (+7)
2.4% more ownership
Funds ownership: 93.61% → 96.01% (+2.4%)
5% more capital invested
Capital invested by funds: $337M → $353M (+$16.4M)
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Victory Capital Management
San Antonio,
Texas
|
+$3.86M |
| 2 |
Marshall Wace
London,
United Kingdom
|
+$3.28M |
| 3 |
Renaissance Technologies
New York
|
+$2.99M |
| 4 |
BlackRock
New York
|
+$2.17M |
| 5 |
XT
XTX Topco
George Town,
Cayman Islands
|
+$1.83M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
GI
GAMCO Investors
Greenwich,
Connecticut
|
-$1.23M |
| 2 |
CCM
Check Capital Management
Costa Mesa,
California
|
-$1.22M |
| 3 |
Citadel Advisors
Miami,
Florida
|
-$884K |
| 4 |
OAC
OMERS Administration Corp
Toronto,
Ontario, Canada
|
-$870K |
| 5 |
Jane Street
New York
|
-$698K |
BH.A Hedge Fund Activity: Q1 2026 in Review
43 of the 8,206 institutional investors tracked by Wall St. Rank reported a position in Biglari Holdings Class A (BH.A) for Q1 2026, worth a combined $353M — up 4.9% from $337M a quarter earlier.
Buyers outnumbered sellers: 14 funds opened new BH.A positions and 5 closed out — a net gain of 9 holders — while 17 added to existing stakes and 5 trimmed.
The largest buyer was Victory Capital Management, opening a new position worth an estimated $3.86M. The largest seller was GAMCO Investors, cutting an estimated $1.23M.
- 43 institutional investors held Biglari Holdings Class A (BH.A) as of Q1 2026, up from 36 in Q4 2025.
- Funds reported $353M of Biglari Holdings Class A stock for Q1 2026, up 4.9% quarter-over-quarter.
- 14 funds opened new Biglari Holdings Class A positions in Q1 2026 and 5 closed out, a net change of +9 holders.
- The largest Biglari Holdings Class A buyer in Q1 2026 was Victory Capital Management, an estimated $3.86M added.
- The largest Biglari Holdings Class A seller in Q1 2026 was GAMCO Investors, an estimated $1.23M sold.
Based on aggregated 13F filings for Q1 2026.