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Biglari Holdings Class B

76 hedge funds and large institutions have $333M invested in Biglari Holdings Class B in 2018 Q3 according to their latest regulatory filings, with 10 funds opening new positions, 26 increasing their positions, 19 reducing their positions, and 15 closing their positions.

New
Increased
Maintained
Reduced
Closed

37% more repeat investments, than reductions

Existing positions increased: 26 | Existing positions reduced: 19

0.24% more ownership

Funds ownership: 88.52%88.75% (+0.24%)

0% more funds holding in top 10

Funds holding in top 10: 22 (0)

1% less capital invested

Capital invested by funds: $336M → $333M (-$3.05M)

6% less funds holding

Funds holding: 8176 (-5)

33% less first-time investments, than exits

New positions opened: 10 | Existing positions closed: 15

Holders
76
Holders Change
-5
Holders Change %
-6.17%
% of All Funds
1.74%
Holding in Top 10
2
Holding in Top 10 Change
Holding in Top 10 Change %
% of All Funds
0.05%
New
10
Increased
26
Reduced
19
Closed
15
Calls
Puts
Net Calls
Net Calls Change
Name Holding Trade Value Shares
Change
Change in
Stake
BCC
1
Biglari Capital Corp
Texas
$204M
Vanguard Group
2
Vanguard Group
Pennsylvania
$20.6M +$2.99M +15,625 +16%
Janus Henderson Group
3
Janus Henderson Group
United Kingdom
$13.7M -$1.53K -8 -0%
BlackRock
4
BlackRock
New York
$12.9M -$31.6K -165 -0.2%
GI
5
GAMCO Investors
Connecticut
$9.93M -$1.09M -5,703 -9%
Dimensional Fund Advisors
6
Dimensional Fund Advisors
Texas
$8.94M +$974K +5,087 +12%
RRAM
7
River Road Asset Management
Kentucky
$8.42M -$2.78M -14,510 -24%
ICM
8
Intrepid Capital Management
Florida
$5.88M +$97.8K +511 +2%
FM
9
Fondren Management
Texas
$4.78M +$764K +3,990 +18%
State Street
10
State Street
Massachusetts
$4.45M +$651K +3,399 +16%
GF
11
Gabelli Funds
New York
$4.12M -$84K -439 -2%
D.E. Shaw & Co
12
D.E. Shaw & Co
New York
$3M +$115K +601 +4%
AQR Capital Management
13
AQR Capital Management
Connecticut
$2.97M +$1.44M +7,509 +85%
Northern Trust
14
Northern Trust
Illinois
$2.54M -$13.8K -72 -0.5%
TA
15
Teton Advisors
New York
$2.39M
Goldman Sachs
16
Goldman Sachs
New York
$2.16M +$1.33M +6,939 +139%
RJA
17
Raymond James & Associates
Florida
$2.03M -$285K -1,487 -12%
Prudential Financial
18
Prudential Financial
New Jersey
$1.97M +$19.7K +103 +1%
Geode Capital Management
19
Geode Capital Management
Massachusetts
$1.94M +$190K +993 +10%
Bank of New York Mellon
20
Bank of New York Mellon
New York
$1.52M -$10.3K -54 -0.6%
Janney Montgomery Scott
21
Janney Montgomery Scott
Pennsylvania
$1.15M -$121K -630 -9%
TCIM
22
TIAA CREF Investment Management
New York
$1.09M +$708K +3,700 +160%
Charles Schwab
23
Charles Schwab
California
$988K +$158K +827 +18%
Norges Bank
24
Norges Bank
Norway
$934K -$976K -5,098 -50%
Morgan Stanley
25
Morgan Stanley
New York
$864K +$58.4K +305 +7%

BH Hedge Fund Activity: Q3 2018 in Review

76 of the 4,375 institutional investors tracked by Wall St. Rank reported a position in Biglari Holdings Class B (BH) for Q3 2018, worth a combined $333M — down 0.91% from $336M a quarter earlier.

Sellers outnumbered buyers: 15 funds closed out of BH and 10 opened new positions — a net loss of 5 holders — while 19 trimmed existing stakes and 26 added.

The largest buyer was Vanguard Group, adding an estimated $2.99M. The largest seller was River Road Asset Management, cutting an estimated $2.78M.

  • 76 institutional investors held Biglari Holdings Class B (BH) as of Q3 2018, down from 81 in Q2 2018.
  • Funds reported $333M of Biglari Holdings Class B stock for Q3 2018, down 0.91% quarter-over-quarter.
  • 10 funds opened new Biglari Holdings Class B positions in Q3 2018 and 15 closed out, a net change of -5 holders.
  • The largest Biglari Holdings Class B buyer in Q3 2018 was Vanguard Group, an estimated $2.99M added.
  • The largest Biglari Holdings Class B seller in Q3 2018 was River Road Asset Management, an estimated $2.78M sold.

Based on aggregated 13F filings for Q3 2018.