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Biglari Holdings Class B
BH

66 hedge funds and large institutions have $198M invested in Biglari Holdings Class B in 2019 Q4 according to their latest regulatory filings, with 14 funds opening new positions, 22 increasing their positions, 18 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

180% more first-time investments, than exits

New positions opened: 14 | Existing positions closed: 5

22% more repeat investments, than reductions

Existing positions increased: 22 | Existing positions reduced: 18

14% more funds holding

Funds holding: 58 → 66 (+8)

4% more capital invested

Capital invested by funds: $191M → $198M (+$6.86M)

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

1.12% less ownership

Funds ownership: 84.74% → 83.62% (-1.1%)

Holders
66
Holders Change
+8
Holders Change %
+13.79%
% of All Funds
1.3%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.04%
New
14
Increased
22
Reduced
18
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Arrowstreet Capital
Arrowstreet Capital
Massachusetts
+$1.43M
2
BCM
Bridgeway Capital Management
Texas
+$1.27M
3
AQR Capital Management
AQR Capital Management
Connecticut
+$1.22M
4
Bank of New York Mellon
Bank of New York Mellon
New York
+$1.08M
5
Prudential Financial
Prudential Financial
New Jersey
+$570K

Top Sellers

Rank Fund Capital Flow
1
Vanguard Group
Vanguard Group
Pennsylvania
-$4.88M
2
FM
Fondren Management
Texas
-$3.05M
3
N
Nuveen
North Carolina
-$1.16M
4
IIM
Ironwood Investment Management
Massachusetts
-$406K
5
GI
GAMCO Investors
Connecticut
-$371K
Name Holding Trade Value Shares
Change 		Change in
Stake
HSBC Holdings
26
HSBC Holdings
United Kingdom
$433K -$227K -2,223 -37%
Morgan Stanley
27
Morgan Stanley
New York
$394K +$185K +1,818 +112%
Millennium Management
28
Millennium Management
New York
$359K +$320K +3,141 New
EGM
29
Engineers Gate Manager
New York
$348K +$310K +3,044 New
N
30
Nuveen
North Carolina
$273K -$1.16M -11,379 -83%
MSL
31
Mackay Shields LLC
New York
$241K +$215K +2,110 New
OSAM
32
O'Shaughnessy Asset Management
Connecticut
$231K +$206K +2,018 New
Two Sigma Investments
33
Two Sigma Investments
New York
$218K +$194K +1,902 New
Goldman Sachs
34
Goldman Sachs
New York
$210K -$270K -2,647 -59%
UBS Group
35
UBS Group
Switzerland
$210K +$109K +1,067 +138%
Wells Fargo
36
Wells Fargo
California
$205K -$202K -1,980 -53%
CSS
37
Cubist Systematic Strategies
Connecticut
$192K +$171K +1,679 New
California State Teachers Retirement System (CalSTRS)
38
California State Teachers Retirement System (CalSTRS)
California
$167K – – –
MAM
39
Meeder Asset Management
Ohio
$162K +$96.4K +946 +197%
Barclays
40
Barclays
United Kingdom
$154K -$4.69K -46 -3%
New York State Common Retirement Fund
41
New York State Common Retirement Fund
New York
$146K – – –
Deutsche Bank
42
Deutsche Bank
Germany
$135K +$93.2K +914 +326%
Marshall Wace
43
Marshall Wace
United Kingdom
$118K +$105K +1,028 New
AIG
44
American International Group
New York
$68K -$612 -6 -1%
Russell Investments Group
45
Russell Investments Group
United Kingdom
$67K +$60.1K +590 New
Bank of America
46
Bank of America
North Carolina
$61K -$48.7K -478 -47%
JP Morgan Chase
47
JP Morgan Chase
New York
$52K +$2.75K +27 +6%
TRCT
48
Tower Research Capital (TRC)
New York
$50K +$44.6K +438 New
Public Employees Retirement Association of Colorado
49
Public Employees Retirement Association of Colorado
Colorado
$46K -$27.6K -271 -41%
ASN
50
Advisory Services Network
Georgia
$46K +$40.8K +400 New
1
2
3

BH Hedge Fund Activity: Q4 2019 in Review

66 of the 5,076 institutional investors tracked by Wall St. Rank reported a position in Biglari Holdings Class B (BH) for Q4 2019, worth a combined $198M — up 3.6% from $191M a quarter earlier.

Buyers outnumbered sellers: 14 funds opened new BH positions and 5 closed out — a net gain of 9 holders — while 22 added to existing stakes and 18 trimmed.

The largest buyer was Arrowstreet Capital, adding an estimated $1.43M. The largest seller was Vanguard Group, cutting an estimated $4.88M.

  • 66 institutional investors held Biglari Holdings Class B (BH) as of Q4 2019, up from 58 in Q3 2019.
  • Funds reported $198M of Biglari Holdings Class B stock for Q4 2019, up 3.6% quarter-over-quarter.
  • 14 funds opened new Biglari Holdings Class B positions in Q4 2019 and 5 closed out, a net change of +9 holders.
  • The largest Biglari Holdings Class B buyer in Q4 2019 was Arrowstreet Capital, an estimated $1.43M added.
  • The largest Biglari Holdings Class B seller in Q4 2019 was Vanguard Group, an estimated $4.88M sold.

Based on aggregated 13F filings for Q4 2019.