Biglari Holdings Class B
76 hedge funds and large institutions have $389M invested in Biglari Holdings Class B in 2025 Q1 according to their latest regulatory filings, with 12 funds opening new positions, 25 increasing their positions, 19 reducing their positions, and 11 closing their positions.
32% more repeat investments, than reductions
Existing positions increased: 25 | Existing positions reduced: 19
9% more first-time investments, than exits
New positions opened: 12 | Existing positions closed: 11
0.45% more ownership
Funds ownership: 86.4% → 86.85% (+0.45%)
0% more funds holding
Funds holding: 76 → 76 (0)
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
14% less capital invested
Capital invested by funds: $455M → $389M (-$65.5M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
JP Morgan Chase
New York
|
+$2.56M |
| 2 |
Vanguard Group
Malvern,
Pennsylvania
|
+$791K |
| 3 |
OSAM
O'Shaughnessy Asset Management
Stamford,
Connecticut
|
+$788K |
| 4 |
HF
HRT Financial
New York
|
+$553K |
| 5 |
Cerity Partners
New York
|
+$477K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Invesco
Atlanta,
Georgia
|
-$4.02M |
| 2 |
MAM
Marquette Asset Management
Minneapolis,
Minnesota
|
-$538K |
| 3 |
Morgan Stanley
New York
|
-$366K |
| 4 |
B
Bailard
Foster City,
California
|
-$307K |
| 5 |
Prudential Financial
Newark,
New Jersey
|
-$212K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
TWD
76
True Wealth Design
Akron,
Ohio
| $217 | +$228 | +1 | New |
|
|
77
Invesco
Atlanta,
Georgia
| – | -$4.02M | -15,805 | Closed |
|
|
MAM
78
Marquette Asset Management
Minneapolis,
Minnesota
| – | -$538K | -2,116 | Closed |
|
|
B
79
Bailard
Foster City,
California
| – | -$307K | -1,207 | Closed |
|
|
80
Prudential Financial
Newark,
New Jersey
| – | -$212K | -834 | Closed |
|
81
AllianceBernstein
Nashville,
Tennessee
| – | -$209K | -821 | Closed |
|
|
EI
82
Ethic Inc
New York
| – | -$205K | -806 | Closed |
|
83
SG Americas Securities
New York
| – | -$115K | -454 | Closed |
|
|
AWM
84
Atticus Wealth Management
Palm Beach Gardens,
Florida
| – | -$25.4K | -100 | Closed |
|
|
MFT
85
Moisand Fitzgerald Tamayo
Orlando,
Florida
| – | -$5.34K | -21 | Closed |
|
|
CJ
86
Caitlin John
Brighton,
Michigan
| – | -$3.81K | -15 | Closed |
|
87
PNC Financial Services Group
Pittsburgh,
Pennsylvania
| – | -$2.03K | -8 | Closed |
|
BH Hedge Fund Activity: Q1 2025 in Review
76 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in Biglari Holdings Class B (BH) for Q1 2025, worth a combined $389M — down 14% from $455M a quarter earlier.
Buyers outnumbered sellers: 12 funds opened new BH positions and 11 closed out — a net gain of 1 holder — while 25 added to existing stakes and 19 trimmed.
The largest buyer was JP Morgan Chase, adding an estimated $2.56M. The largest seller was Invesco, exiting entirely with an estimated $4.02M sold.
- 76 institutional investors held Biglari Holdings Class B (BH) as of Q1 2025, unchanged from Q4 2024.
- Funds reported $389M of Biglari Holdings Class B stock for Q1 2025, down 14% quarter-over-quarter.
- 12 funds opened new Biglari Holdings Class B positions in Q1 2025 and 11 closed out, a net change of +1 holder.
- The largest Biglari Holdings Class B buyer in Q1 2025 was JP Morgan Chase, an estimated $2.56M added.
- The largest Biglari Holdings Class B seller in Q1 2025 was Invesco, an estimated $4.02M sold.
Based on aggregated 13F filings for Q1 2025.