Biglari Holdings Class B
92 hedge funds and large institutions have $535M invested in Biglari Holdings Class B in 2025 Q2 according to their latest regulatory filings, with 23 funds opening new positions, 23 increasing their positions, 24 reducing their positions, and 7 closing their positions.
229% more first-time investments, than exits
New positions opened: 23 | Existing positions closed: 7
37% more capital invested
Capital invested by funds: $389M → $535M (+$146M)
21% more funds holding
Funds holding: 76 → 92 (+16)
1.65% more ownership
Funds ownership: 86.85% → 88.49% (+1.6%)
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
4% less repeat investments, than reductions
Existing positions increased: 23 | Existing positions reduced: 24
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Invesco
Atlanta,
Georgia
|
+$2.34M |
| 2 |
Morgan Stanley
New York
|
+$1.93M |
| 3 |
Citadel Advisors
Miami,
Florida
|
+$1.64M |
| 4 |
Two Sigma Investments
New York
|
+$1.07M |
| 5 |
Man Group
London,
United Kingdom
|
+$724K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Vanguard Group
Malvern,
Pennsylvania
|
-$716K |
| 2 |
Nuveen
Charlotte,
North Carolina
|
-$668K |
| 3 |
BlackRock
New York
|
-$668K |
| 4 |
Goldman Sachs
New York
|
-$661K |
| 5 |
Allspring Global Investments
Charlotte,
North Carolina
|
-$540K |
BH Hedge Fund Activity: Q2 2025 in Review
92 of the 7,613 institutional investors tracked by Wall St. Rank reported a position in Biglari Holdings Class B (BH) for Q2 2025, worth a combined $535M — up 37% from $389M a quarter earlier.
Buyers outnumbered sellers: 23 funds opened new BH positions and 7 closed out — a net gain of 16 holders — while 23 added to existing stakes and 24 trimmed.
The largest buyer was Invesco, opening a new position worth an estimated $2.34M. The largest seller was Vanguard Group, cutting an estimated $716K.
- 92 institutional investors held Biglari Holdings Class B (BH) as of Q2 2025, up from 76 in Q1 2025.
- Funds reported $535M of Biglari Holdings Class B stock for Q2 2025, up 37% quarter-over-quarter.
- 23 funds opened new Biglari Holdings Class B positions in Q2 2025 and 7 closed out, a net change of +16 holders.
- The largest Biglari Holdings Class B buyer in Q2 2025 was Invesco, an estimated $2.34M added.
- The largest Biglari Holdings Class B seller in Q2 2025 was Vanguard Group, an estimated $716K sold.
Based on aggregated 13F filings for Q2 2025.