Biglari Holdings Class B
117 hedge funds and large institutions have $653M invested in Biglari Holdings Class B in 2026 Q1 according to their latest regulatory filings, with 30 funds opening new positions, 31 increasing their positions, 31 reducing their positions, and 16 closing their positions.
88% more first-time investments, than exits
New positions opened: 30 | Existing positions closed: 16
9% more funds holding
Funds holding: 107 → 117 (+10)
4.77% more ownership
Funds ownership: 93.41% → 98.18% (+4.8%)
2% more capital invested
Capital invested by funds: $642M → $653M (+$10.8M)
0% more repeat investments, than reductions
Existing positions increased: 31 | Existing positions reduced: 31
50% less funds holding in top 10
Funds holding in top 10: 2 → 1 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SLAM
Swiss Life Asset Management
Zurich,
|
+$24.7M |
| 2 |
Marshall Wace
London,
United Kingdom
|
+$11.8M |
| 3 |
Jane Street
New York
|
+$6.51M |
| 4 |
TI
Trexquant Investment
Stamford,
Connecticut
|
+$5.15M |
| 5 |
Renaissance Technologies
New York
|
+$4.03M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Arrowstreet Capital
Boston,
Massachusetts
|
-$5.5M |
| 2 |
BCM
Bridgeway Capital Management
Houston,
Texas
|
-$4.75M |
| 3 |
PLC
Peapod Lane Capital
Bedford Hills,
New York
|
-$4.12M |
| 4 |
EF
Empowered Funds
Havertown,
Pennsylvania
|
-$3.86M |
| 5 |
Citadel Advisors
Miami,
Florida
|
-$2.88M |
BH Hedge Fund Activity: Q1 2026 in Review
117 of the 8,126 institutional investors tracked by Wall St. Rank reported a position in Biglari Holdings Class B (BH) for Q1 2026, worth a combined $653M — up 1.7% from $642M a quarter earlier.
Buyers outnumbered sellers: 30 funds opened new BH positions and 16 closed out — a net gain of 14 holders — while 31 added to existing stakes and 31 trimmed.
The largest buyer was Swiss Life Asset Management, opening a new position worth an estimated $24.7M. The largest seller was Arrowstreet Capital, cutting an estimated $5.5M.
- 117 institutional investors held Biglari Holdings Class B (BH) as of Q1 2026, up from 107 in Q4 2025.
- Funds reported $653M of Biglari Holdings Class B stock for Q1 2026, up 1.7% quarter-over-quarter.
- 30 funds opened new Biglari Holdings Class B positions in Q1 2026 and 16 closed out, a net change of +14 holders.
- The largest Biglari Holdings Class B buyer in Q1 2026 was Swiss Life Asset Management, an estimated $24.7M added.
- The largest Biglari Holdings Class B seller in Q1 2026 was Arrowstreet Capital, an estimated $5.5M sold.
Based on aggregated 13F filings for Q1 2026.