We are live on ! Find out more
BH icon

Biglari Holdings Class B
BH

71 hedge funds and large institutions have $279M invested in Biglari Holdings Class B in 2023 Q1 according to their latest regulatory filings, with 14 funds opening new positions, 20 increasing their positions, 21 reducing their positions, and 3 closing their positions.

New
Increased
Maintained
Reduced
Closed

367% more first-time investments, than exits

New positions opened: 14 | Existing positions closed: 3

30% more capital invested

Capital invested by funds: $215M → $279M (+$63.9M)

18% more funds holding

Funds holding: 60 → 71 (+11)

0.71% more ownership

Funds ownership: 78.95% → 79.66% (+0.71%)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

5% less repeat investments, than reductions

Existing positions increased: 20 | Existing positions reduced: 21

Holders
71
Holders Change
+11
Holders Change %
+18.33%
% of All Funds
1.13%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.02%
New
14
Increased
20
Reduced
21
Closed
3
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Arrowstreet Capital
Arrowstreet Capital
Massachusetts
+$1.12M
2
Renaissance Technologies
Renaissance Technologies
New York
+$482K
3
Citadel Advisors
Citadel Advisors
Florida
+$471K
4
Dimensional Fund Advisors
Dimensional Fund Advisors
Texas
+$465K
5
RWM
Ritholtz Wealth Management
New York
+$339K

Top Sellers

Rank Fund Capital Flow
1
Goldman Sachs
Goldman Sachs
New York
-$525K
2
BlackRock
BlackRock
New York
-$472K
3
D.E. Shaw & Co
D.E. Shaw & Co
New York
-$292K
4
SO
STRS Ohio
Ohio
-$165K
5
Millennium Management
Millennium Management
New York
-$116K
Name Holding Trade Value Shares
Change 		Change in
Stake
BCC
1
Biglari Capital Corp
Texas
$225M – – –
Dimensional Fund Advisors
2
Dimensional Fund Advisors
Texas
$14.5M +$465K +2,813 +3%
BlackRock
3
BlackRock
New York
$9.24M -$472K -2,856 -5%
Vanguard Group
4
Vanguard Group
Pennsylvania
$4.87M +$9.58K +58 +0.2%
State Street
5
State Street
Massachusetts
$2.29M +$37.5K +227 +2%
N
6
Nuveen
North Carolina
$2.27M -$69.4K -420 -3%
BCM
7
Bridgeway Capital Management
Texas
$2.13M -$47.1K -285 -2%
Prudential Financial
8
Prudential Financial
New Jersey
$2.08M -$102K -620 -5%
Geode Capital Management
9
Geode Capital Management
Massachusetts
$2.08M -$60.1K -364 -3%
Connor, Clark & Lunn Investment Management (CC&L)
10
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
$1.91M -$89.5K -542 -5%
Northern Trust
11
Northern Trust
Illinois
$1.36M -$40.5K -245 -3%
Arrowstreet Capital
12
Arrowstreet Capital
Massachusetts
$1.14M +$1.12M +6,758 New
D.E. Shaw & Co
13
D.E. Shaw & Co
New York
$871K -$292K -1,765 -26%
OSAM
14
O'Shaughnessy Asset Management
Connecticut
$643K +$268K +1,624 +75%
Los Angeles Capital Management
15
Los Angeles Capital Management
California
$624K +$4.96K +30 +0.8%
MAM
16
Martingale Asset Management
Massachusetts
$561K +$164K +992 +43%
MAM
17
Marquette Asset Management
Minnesota
$508K – – –
Renaissance Technologies
18
Renaissance Technologies
New York
$494K +$482K +2,919 New
Bank of New York Mellon
19
Bank of New York Mellon
New York
$486K -$45.9K -278 -9%
Citadel Advisors
20
Citadel Advisors
Florida
$483K +$471K +2,853 New
SO
21
STRS Ohio
Ohio
$473K -$165K -1,000 -26%
Millennium Management
22
Millennium Management
New York
$426K -$116K -701 -22%
Morgan Stanley
23
Morgan Stanley
New York
$401K +$42.5K +257 +12%
Charles Schwab
24
Charles Schwab
California
$368K +$6.28K +38 +2%
Two Sigma Advisers
25
Two Sigma Advisers
New York
$348K – – –
1
2 3

BH Hedge Fund Activity: Q1 2023 in Review

71 of the 6,275 institutional investors tracked by Wall St. Rank reported a position in Biglari Holdings Class B (BH) for Q1 2023, worth a combined $279M — up 30% from $215M a quarter earlier.

Buyers outnumbered sellers: 14 funds opened new BH positions and 3 closed out — a net gain of 11 holders — while 20 added to existing stakes and 21 trimmed.

The largest buyer was Arrowstreet Capital, opening a new position worth an estimated $1.12M. The largest seller was Goldman Sachs, cutting an estimated $525K.

  • 71 institutional investors held Biglari Holdings Class B (BH) as of Q1 2023, up from 60 in Q4 2022.
  • Funds reported $279M of Biglari Holdings Class B stock for Q1 2023, up 30% quarter-over-quarter.
  • 14 funds opened new Biglari Holdings Class B positions in Q1 2023 and 3 closed out, a net change of +11 holders.
  • The largest Biglari Holdings Class B buyer in Q1 2023 was Arrowstreet Capital, an estimated $1.12M added.
  • The largest Biglari Holdings Class B seller in Q1 2023 was Goldman Sachs, an estimated $525K sold.

Based on aggregated 13F filings for Q1 2023.