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Biglari Holdings Class B

74 hedge funds and large institutions have $201M invested in Biglari Holdings Class B in 2018 Q4 according to their latest regulatory filings, with 10 funds opening new positions, 21 increasing their positions, 21 reducing their positions, and 12 closing their positions.

New
Increased
Maintained
Reduced
Closed

0% more funds holding in top 10

Funds holding in top 10: 22 (0)

0% more repeat investments, than reductions

Existing positions increased: 21 | Existing positions reduced: 21

3% less funds holding

Funds holding: 7674 (-2)

3.18% less ownership

Funds ownership: 88.75%85.57% (-3.2%)

17% less first-time investments, than exits

New positions opened: 10 | Existing positions closed: 12

40% less capital invested

Capital invested by funds: $333M → $201M (-$132M)

Holders
74
Holders Change
-2
Holders Change %
-2.63%
% of All Funds
1.65%
Holding in Top 10
2
Holding in Top 10 Change
Holding in Top 10 Change %
% of All Funds
0.04%
New
10
Increased
21
Reduced
21
Closed
12
Calls
Puts
Net Calls
Net Calls Change
Name Holding Trade Value Shares
Change
Change in
Stake
Bank of New York Mellon
26
Bank of New York Mellon
New York
$575K -$494K -3,348 -40%
JP Morgan Chase
27
JP Morgan Chase
New York
$506K +$25.8K +175 +4%
Morgan Stanley
28
Morgan Stanley
New York
$505K -$46.5K -315 -7%
California Public Employees Retirement System
29
California Public Employees Retirement System
California
$443K -$20.7K -140 -3%
Janney Montgomery Scott
30
Janney Montgomery Scott
Pennsylvania
$408K -$402K -2,727 -43%
BCM
31
Bridgeway Capital Management
Texas
$398K
IIM
32
Ironwood Investment Management
Massachusetts
$381K +$163K +1,104 +49%
TA
33
Teachers Advisors
New York
$271K +$75.2K +510 +27%
MAM
34
Marquette Asset Management
Minnesota
$256K +$333K +2,255 New
Invesco
35
Invesco
Georgia
$247K +$38.2K +259 +14%
Wells Fargo
36
Wells Fargo
California
$216K +$10.9K +74 +4%
Arrowstreet Capital
37
Arrowstreet Capital
Massachusetts
$214K +$277K +1,880 New
Jacobs Levy Equity Management
38
Jacobs Levy Equity Management
New Jersey
$207K +$269K +1,824 New
Swiss National Bank
39
Swiss National Bank
Switzerland
$204K
California State Teachers Retirement System (CalSTRS)
40
California State Teachers Retirement System (CalSTRS)
California
$183K +$24.8K +168 +12%
New York State Common Retirement Fund
41
New York State Common Retirement Fund
New York
$145K
Deutsche Bank
42
Deutsche Bank
Germany
$138K -$151K -1,027 -46%
TRCT
43
Tower Research Capital (TRC)
New York
$117K -$60.5K -410 -28%
Public Employees Retirement Association of Colorado
44
Public Employees Retirement Association of Colorado
Colorado
$76K
AIG
45
American International Group
New York
$71K -$738 -5 -0.8%
UBS Group
46
UBS Group
Switzerland
$49K -$11.4K -77 -15%
Legal & General Group
47
Legal & General Group
United Kingdom
$48K
Russell Investments Group
48
Russell Investments Group
United Kingdom
$47K +$60.5K +410 New
Barclays
49
Barclays
United Kingdom
$42K -$51.8K -351 -48%
WF
50
WealthTrust Fairport
Ohio
$38K

BH Hedge Fund Activity: Q4 2018 in Review

74 of the 4,489 institutional investors tracked by Wall St. Rank reported a position in Biglari Holdings Class B (BH) for Q4 2018, worth a combined $201M — down 40% from $333M a quarter earlier.

Sellers outnumbered buyers: 12 funds closed out of BH and 10 opened new positions — a net loss of 2 holders — while 21 trimmed existing stakes and 21 added.

The largest buyer was Fondren Management, adding an estimated $4.04M. The largest seller was Janus Henderson Group, exiting entirely with an estimated $13.7M sold.

  • 74 institutional investors held Biglari Holdings Class B (BH) as of Q4 2018, down from 76 in Q3 2018.
  • Funds reported $201M of Biglari Holdings Class B stock for Q4 2018, down 40% quarter-over-quarter.
  • 10 funds opened new Biglari Holdings Class B positions in Q4 2018 and 12 closed out, a net change of -2 holders.
  • The largest Biglari Holdings Class B buyer in Q4 2018 was Fondren Management, an estimated $4.04M added.
  • The largest Biglari Holdings Class B seller in Q4 2018 was Janus Henderson Group, an estimated $13.7M sold.

Based on aggregated 13F filings for Q4 2018.