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Biglari Holdings Class B
BH

126 hedge funds and large institutions have $659M invested in Biglari Holdings Class B in 2014 Q4 according to their latest regulatory filings, with 15 funds opening new positions, 31 increasing their positions, 44 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more funds holding in top 10

Funds holding in top 10: 2 → 4 (+2)

88% more first-time investments, than exits

New positions opened: 15 | Existing positions closed: 8

22% more capital invested

Capital invested by funds: $541M → $659M (+$118M)

4.16% more ownership

Funds ownership: 115.68% → 119.84% (+4.2%)

3% more funds holding

Funds holding: 122 → 126 (+4)

30% less repeat investments, than reductions

Existing positions increased: 31 | Existing positions reduced: 44

Holders
126
Holders Change
+4
Holders Change %
+3.28%
% of All Funds
3.36%
Holding in Top 10
4
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+100%
% of All Funds
0.11%
New
15
Increased
31
Reduced
44
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Comerica Bank
Comerica Bank
Texas
+$6.67M
2
GI
GAMCO Investors
Connecticut
+$6.53M
3
BCC
Biglari Capital Corp
Texas
+$5.9M
4
JAM
Jupiter Asset Management
United Kingdom
+$4.36M
5
BFA
BlackRock Fund Advisors
California
+$3.82M

Top Sellers

Rank Fund Capital Flow
1
AR
Advisory Research
Illinois
-$3.79M
2
ESBC
E.S. Barr & Co
Kentucky
-$3.68M
3
JP Morgan Chase
JP Morgan Chase
New York
-$2.24M
4
Marshall Wace
Marshall Wace
United Kingdom
-$1.36M
5
Norges Bank
Norges Bank
Norway
-$1.14M
Name Holding Trade Value Shares
Change 		Change in
Stake
MSA
101
Mason Street Advisors
Wisconsin
$88K +$2.59K +11 +3%
TRCT
102
Tower Research Capital (TRC)
New York
$80K +$70.7K +300 New
Wells Fargo
103
Wells Fargo
California
$70K +$9.66K +41 +18%
BAM
104
Brave Asset Management
New Jersey
$59K – – –
NPC
105
National Planning Corporation
California
$42.1K +$36.5K +155 New
Envestnet Asset Management
106
Envestnet Asset Management
Illinois
$42K +$3.54K +15 +11%
Creative Planning
107
Creative Planning
Kansas
$40K +$35.4K +150 New
Canada Life
108
Canada Life
Manitoba, Canada
$38K – – –
US Bancorp
109
US Bancorp
Minnesota
$26K – – –
MA
110
MUFG Americas
New York
$24K +$7.07K +30 +50%
Teacher Retirement System of Texas
111
Teacher Retirement System of Texas
Texas
$20K -$3.54K -15 -17%
BlackRock
112
BlackRock
New York
$20K – – –
HNB
113
Huntington National Bank
Ohio
$20K +$17.7K +75 New
KTC
114
Kistler-Tiffany Companies
Pennsylvania
$16K – – –
BRWM
115
B. Riley Wealth Management
Tennessee
$15K – – –
WRM
116
Westport Resources Management
Connecticut
$12K – – –
BC
117
Bartlett & Co
Ohio
$10K – – –
FANJ
118
Financial Architects (New Jersey)
New Jersey
$10K – – –
Bank of Montreal
119
Bank of Montreal
Ontario, Canada
$5K -$1.89K -8 -28%
FNBT
120
FineMark National Bank & Trust
Florida
$5K -$1.41K -6 -23%
MFS
121
MSI Financial Services
Massachusetts
$4K – – –
FNBSF
122
First National Bank Sioux Falls
South Dakota
$2K – – –
LTFS
123
Ladenburg Thalmann Financial Services
Florida
$1K – – –
Manulife (Manufacturers Life Insurance)
124
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$451 +$13.7K +58 +4%
JP Morgan Chase
125
JP Morgan Chase
New York
– -$2.24M -9,882 Closed
2 3 4
5
6

BH Hedge Fund Activity: Q4 2014 in Review

126 of the 3,749 institutional investors tracked by Wall St. Rank reported a position in Biglari Holdings Class B (BH) for Q4 2014, worth a combined $659M — up 22% from $541M a quarter earlier.

Buyers outnumbered sellers: 15 funds opened new BH positions and 8 closed out — a net gain of 7 holders — while 31 added to existing stakes and 44 trimmed.

The largest buyer was Comerica Bank, adding an estimated $6.67M. The largest seller was Advisory Research, cutting an estimated $3.79M.

  • 126 institutional investors held Biglari Holdings Class B (BH) as of Q4 2014, up from 122 in Q3 2014.
  • Funds reported $659M of Biglari Holdings Class B stock for Q4 2014, up 22% quarter-over-quarter.
  • 15 funds opened new Biglari Holdings Class B positions in Q4 2014 and 8 closed out, a net change of +7 holders.
  • The largest Biglari Holdings Class B buyer in Q4 2014 was Comerica Bank, an estimated $6.67M added.
  • The largest Biglari Holdings Class B seller in Q4 2014 was Advisory Research, an estimated $3.79M sold.

Based on aggregated 13F filings for Q4 2014.