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
TRCT
51
Tower Research Capital (TRC)
New York
$1K -$41.6K -423 -97%
FANJ
52
Financial Architects (New Jersey)
New Jersey
$1K – – –
LWM
53
Lenox Wealth Management
Ohio
$1K – – –
NSIM
54
North Star Investment Management
Illinois
$1K – – –
BC
55
Bartlett & Co
Ohio
$1K +$2.46K +25 New
RRAM
56
River Road Asset Management
Kentucky
– -$2.46M -21,509 Closed
Citadel Advisors
57
Citadel Advisors
Florida
– -$796K -6,960 Closed
California Public Employees Retirement System
58
California Public Employees Retirement System
California
– -$466K -4,073 Closed
Invesco
59
Invesco
Georgia
– -$448K -3,916 Closed
HSBC Holdings
60
HSBC Holdings
United Kingdom
– -$433K -3,727 Closed
Millennium Management
61
Millennium Management
New York
– -$359K -3,141 Closed
EGM
62
Engineers Gate Manager
New York
– -$348K -3,044 Closed
MSL
63
Mackay Shields LLC
New York
– -$241K -2,110 Closed
Two Sigma Investments
64
Two Sigma Investments
New York
– -$218K -1,902 Closed
Goldman Sachs
65
Goldman Sachs
New York
– -$210K -1,836 Closed
CSS
66
Cubist Systematic Strategies
Connecticut
– -$192K -1,679 Closed
Fidelity International
67
Fidelity International
Bermuda
– -$29K -250 Closed
PHK
68
Point72 Hong Kong
Hong Kong
– -$26K -230 Closed
Nisa Investment Advisors
69
Nisa Investment Advisors
Missouri
– -$21K -180 Closed
Bank of Montreal
70
Bank of Montreal
Ontario, Canada
– -$14K -121 Closed
Osaic Holdings
71
Osaic Holdings
Arizona
– +$491 +5 New
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.