We are live on ! Find out more
BH icon

Biglari Holdings Class B
BH

57 hedge funds and large institutions have $88.4M invested in Biglari Holdings Class B in 2020 Q1 according to their latest regulatory filings, with 7 funds opening new positions, 23 increasing their positions, 14 reducing their positions, and 15 closing their positions.

New
Increased
Maintained
Reduced
Closed

64% more repeat investments, than reductions

Existing positions increased: 23 | Existing positions reduced: 14

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

0.51% less ownership

Funds ownership: 83.62% → 83.1% (-0.51%)

14% less funds holding

Funds holding: 66 → 57 (-9)

53% less first-time investments, than exits

New positions opened: 7 | Existing positions closed: 15

55% less capital invested

Capital invested by funds: $198M → $88.4M (-$110M)

Holders
57
Holders Change
-9
Holders Change %
-13.64%
% of All Funds
1.26%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.04%
New
7
Increased
23
Reduced
14
Closed
15
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
N
Nuveen
North Carolina
+$1.75M
2
AQR Capital Management
AQR Capital Management
Connecticut
+$828K
3
Dimensional Fund Advisors
Dimensional Fund Advisors
Texas
+$819K
4
DTL
Dynamic Technology Lab
Singapore
+$674K
5
PAM
Panagora Asset Management
Massachusetts
+$539K

Top Sellers

Rank Fund Capital Flow
1
RRAM
River Road Asset Management
Kentucky
-$2.46M
2
Citadel Advisors
Citadel Advisors
Florida
-$796K
3
D.E. Shaw & Co
D.E. Shaw & Co
New York
-$550K
4
Renaissance Technologies
Renaissance Technologies
New York
-$547K
5
California Public Employees Retirement System
California Public Employees Retirement System
California
-$466K
Name Holding Trade Value Shares
Change 		Change in
Stake
Russell Investments Group
26
Russell Investments Group
United Kingdom
$179K +$285K +2,899 +491%
MAM
27
Marquette Asset Management
Minnesota
$175K +$334K +3,397 New
OSAM
28
O'Shaughnessy Asset Management
Connecticut
$165K +$117K +1,186 +59%
Barclays
29
Barclays
United Kingdom
$150K +$155K +1,578 +117%
Wells Fargo
30
Wells Fargo
California
$131K +$73.1K +744 +42%
Marshall Wace
31
Marshall Wace
United Kingdom
$130K +$147K +1,496 +146%
California State Teachers Retirement System (CalSTRS)
32
California State Teachers Retirement System (CalSTRS)
California
$76K +$1.67K +17 +1%
New York State Common Retirement Fund
33
New York State Common Retirement Fund
New York
$66K – – –
UBS Group
34
UBS Group
Switzerland
$47K -$91K -926 -50%
Victory Capital Management
35
Victory Capital Management
Texas
$38K +$70.7K +720 New
Citigroup
36
Citigroup
New York
$34K +$46.1K +469 +243%
AIG
37
American International Group
New York
$29K -$2.85K -29 -5%
JP Morgan Chase
38
JP Morgan Chase
New York
$23K -$1.77K -18 -4%
Royal Bank of Canada
39
Royal Bank of Canada
Ontario, Canada
$22K +$41.6K +423 +14,100%
ASN
40
Advisory Services Network
Georgia
$21K – – –
Public Employees Retirement Association of Colorado
41
Public Employees Retirement Association of Colorado
Colorado
$20K – – –
BNP Paribas Financial Markets
42
BNP Paribas Financial Markets
France
$16K +$14.2K +145 +87%
Deutsche Bank
43
Deutsche Bank
Germany
$16K -$87K -885 -74%
Morgan Stanley
44
Morgan Stanley
New York
$11K -$319K -3,245 -94%
MAM
45
Meeder Asset Management
Ohio
$10K -$119K -1,216 -85%
Legal & General Group
46
Legal & General Group
United Kingdom
$10K – – –
MWNA
47
Marshall Wace North America
New York
$7K +$12.7K +129 New
AIP
48
Ameritas Investment Partners
Nebraska
$4K – – –
LFG
49
Larson Financial Group
Missouri
$3K – – –
BCWM
50
Bartlett & Co Wealth Management
Ohio
$1.28K – – –
1
2
3

BH Hedge Fund Activity: Q1 2020 in Review

57 of the 4,539 institutional investors tracked by Wall St. Rank reported a position in Biglari Holdings Class B (BH) for Q1 2020, worth a combined $88.4M — down 55% from $198M a quarter earlier.

Sellers outnumbered buyers: 15 funds closed out of BH and 7 opened new positions — a net loss of 8 holders — while 14 trimmed existing stakes and 23 added.

The largest buyer was Nuveen, adding an estimated $1.75M. The largest seller was River Road Asset Management, exiting entirely with an estimated $2.46M sold.

  • 57 institutional investors held Biglari Holdings Class B (BH) as of Q1 2020, down from 66 in Q4 2019.
  • Funds reported $88.4M of Biglari Holdings Class B stock for Q1 2020, down 55% quarter-over-quarter.
  • 7 funds opened new Biglari Holdings Class B positions in Q1 2020 and 15 closed out, a net change of -8 holders.
  • The largest Biglari Holdings Class B buyer in Q1 2020 was Nuveen, an estimated $1.75M added.
  • The largest Biglari Holdings Class B seller in Q1 2020 was River Road Asset Management, an estimated $2.46M sold.

Based on aggregated 13F filings for Q1 2020.