We are live on ! Find out more
BH icon

Biglari Holdings Class B
BH

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.

New
Increased
Maintained
Reduced
Closed

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)

Holders
117
Holders Change
+10
Holders Change %
+9.35%
% of All Funds
1.44%
Holding in Top 10
1
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-50%
% of All Funds
0.01%
New
30
Increased
31
Reduced
31
Closed
16
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
SLAM
Swiss Life Asset Management
+$24.7M
2
Marshall Wace
Marshall Wace
United Kingdom
+$11.8M
3
Jane Street
Jane Street
New York
+$6.51M
4
TI
Trexquant Investment
Connecticut
+$5.15M
5
Renaissance Technologies
Renaissance Technologies
New York
+$4.03M

Top Sellers

Rank Fund Capital Flow
1
Arrowstreet Capital
Arrowstreet Capital
Massachusetts
-$5.5M
2
BCM
Bridgeway Capital Management
Texas
-$4.75M
3
PLC
Peapod Lane Capital
New York
-$4.12M
4
EF
Empowered Funds
Pennsylvania
-$3.86M
5
Citadel Advisors
Citadel Advisors
Florida
-$2.88M
Name Holding Trade Value Shares
Change 		Change in
Stake
HSBC Holdings
51
HSBC Holdings
United Kingdom
$495K +$8.23K +22 +1%
Jacobs Levy Equity Management
52
Jacobs Levy Equity Management
New Jersey
$478K – – –
Swiss National Bank
53
Swiss National Bank
Switzerland
$475K +$539K +1,440 New
HA
54
Huntleigh Advisors
Missouri
$462K +$524K +1,401 New
Bank of America
55
Bank of America
North Carolina
$424K +$208K +557 +76%
LPL Financial
56
LPL Financial
California
$372K -$345K -922 -45%
American Century Companies
57
American Century Companies
Missouri
$368K – – –
MAM
58
Martingale Asset Management
Massachusetts
$363K – – –
PCM
59
Polymer Capital Management
New York
$326K -$68.5K -183 -16%
CCM
60
Check Capital Management
California
$319K -$140K -373 -28%
AllianceBernstein
61
AllianceBernstein
Tennessee
$309K -$213K -570 -38%
CP
62
CenterBook Partners
Connecticut
$281K +$319K +853 New
RhumbLine Advisers
63
RhumbLine Advisers
Massachusetts
$281K +$748 +2 +0.2%
BHCM
64
Brevan Howard Capital Management
Jersey
$262K +$297K +795 New
OQS
65
Occudo Quantitative Strategies
Florida
$251K -$587K -1,570 -66%
BIG
66
Brooklyn Investment Group
New York
$231K -$180K -480 -41%
VAM
67
Vanguard Asset Management
$161K +$182K +487 New
Osaic Holdings
68
Osaic Holdings
Arizona
$152K +$168K +448 +3,200%
MIM
69
MetLife Investment Management
New Jersey
$145K – – –
New York State Common Retirement Fund
70
New York State Common Retirement Fund
New York
$140K – – –
Deutsche Bank
71
Deutsche Bank
Germany
$138K – – –
SOADOR
72
State of Alaska Department of Revenue
Alaska
$115K – – –
BCWM
73
Bartlett & Co Wealth Management
Ohio
$112K -$41.5K -111 -22%
Mirae Asset Global ETFs Holdings
74
Mirae Asset Global ETFs Holdings
Hong Kong
$107K – – –
Public Employees Retirement Association of Colorado
75
Public Employees Retirement Association of Colorado
Colorado
$105K – – –
1 2
3
4 5

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.