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Biglari Holdings Class B
BH

72 hedge funds and large institutions have $330M invested in Biglari Holdings Class B in 2023 Q2 according to their latest regulatory filings, with 9 funds opening new positions, 23 increasing their positions, 20 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

18% more capital invested

Capital invested by funds: $279M → $330M (+$50.8M)

15% more repeat investments, than reductions

Existing positions increased: 23 | Existing positions reduced: 20

13% more first-time investments, than exits

New positions opened: 9 | Existing positions closed: 8

1% more funds holding

Funds holding: 71 → 72 (+1)

1.22% more ownership

Funds ownership: 79.66% → 80.88% (+1.2%)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

Holders
72
Holders Change
+1
Holders Change %
+1.41%
% of All Funds
1.13%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.02%
New
9
Increased
23
Reduced
20
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
AI
Acuitas Investments
Washington
+$2.68M
2
EF
Empowered Funds
Pennsylvania
+$1.24M
3
N
Nuveen
North Carolina
+$378K
4
Geode Capital Management
Geode Capital Management
Massachusetts
+$251K
5
Squarepoint
Squarepoint
New York
+$242K

Top Sellers

Rank Fund Capital Flow
1
BlackRock
BlackRock
New York
-$437K
2
D.E. Shaw & Co
D.E. Shaw & Co
New York
-$303K
3
Dimensional Fund Advisors
Dimensional Fund Advisors
Texas
-$211K
4
Millennium Management
Millennium Management
New York
-$197K
5
Acadian Asset Management
Acadian Asset Management
Massachusetts
-$193K
Name Holding Trade Value Shares
Change 		Change in
Stake
Charles Schwab
26
Charles Schwab
California
$434K +$5.8K +31 +1%
Assenagon Asset Management
27
Assenagon Asset Management
Luxembourg
$414K +$171K +913 +77%
Two Sigma Advisers
28
Two Sigma Advisers
New York
$406K – – –
RWM
29
Ritholtz Wealth Management
New York
$404K -$374 -2 -0.1%
Janney Montgomery Scott
30
Janney Montgomery Scott
Pennsylvania
$368K +$26.4K +141 +8%
Millennium Management
31
Millennium Management
New York
$289K -$197K -1,050 -42%
Jacobs Levy Equity Management
32
Jacobs Levy Equity Management
New Jersey
$286K – – –
LPL Financial
33
LPL Financial
California
$271K -$8.8K -47 -3%
Squarepoint
34
Squarepoint
New York
$255K +$242K +1,295 New
Goldman Sachs
35
Goldman Sachs
New York
$247K -$93K -497 -28%
RhumbLine Advisers
36
RhumbLine Advisers
Massachusetts
$225K -$12.4K -66 -5%
Man Group
37
Man Group
United Kingdom
$215K +$204K +1,092 New
GSC
38
Ground Swell Capital
South Carolina
$211K +$200K +1,069 New
JP Morgan Chase
39
JP Morgan Chase
New York
$187K +$30.1K +161 +20%
Russell Investments Group
40
Russell Investments Group
United Kingdom
$175K -$56.9K -304 -25%
New York State Common Retirement Fund
41
New York State Common Retirement Fund
New York
$135K – – –
Bank of America
42
Bank of America
North Carolina
$135K +$561 +3 +0.4%
Acadian Asset Management
43
Acadian Asset Management
Massachusetts
$115K -$193K -1,033 -64%
UBS Group
44
UBS Group
Switzerland
$81.2K +$37.2K +199 +93%
MIM
45
MetLife Investment Management
New Jersey
$80.2K – – –
Public Employees Retirement Association of Colorado
46
Public Employees Retirement Association of Colorado
Colorado
$78K – – –
Barclays
47
Barclays
United Kingdom
$73.1K -$139K -742 -67%
AIG
48
American International Group
New York
$70K – – –
Wells Fargo
49
Wells Fargo
California
$56.8K +$29.6K +158 +122%
GCM
50
Gladius Capital Management
Illinois
$53.2K +$7.86K +42 +18%
1
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BH Hedge Fund Activity: Q2 2023 in Review

72 of the 6,369 institutional investors tracked by Wall St. Rank reported a position in Biglari Holdings Class B (BH) for Q2 2023, worth a combined $330M — up 18% from $279M a quarter earlier.

Buyers outnumbered sellers: 9 funds opened new BH positions and 8 closed out — a net gain of 1 holder — while 23 added to existing stakes and 20 trimmed.

The largest buyer was Acuitas Investments, opening a new position worth an estimated $2.68M. The largest seller was BlackRock, cutting an estimated $437K.

  • 72 institutional investors held Biglari Holdings Class B (BH) as of Q2 2023, up from 71 in Q1 2023.
  • Funds reported $330M of Biglari Holdings Class B stock for Q2 2023, up 18% quarter-over-quarter.
  • 9 funds opened new Biglari Holdings Class B positions in Q2 2023 and 8 closed out, a net change of +1 holder.
  • The largest Biglari Holdings Class B buyer in Q2 2023 was Acuitas Investments, an estimated $2.68M added.
  • The largest Biglari Holdings Class B seller in Q2 2023 was BlackRock, an estimated $437K sold.

Based on aggregated 13F filings for Q2 2023.