Biglari Holdings Class B
114 hedge funds and large institutions have $851M invested in Biglari Holdings Class B in 2026 Q2 according to their latest regulatory filings, with 23 funds opening new positions, 34 increasing their positions, 29 reducing their positions, and 24 closing their positions.
17% more repeat investments, than reductions
Existing positions increased: 34 | Existing positions reduced: 29
8% more capital inflows, than outflows
Capital inflows: $49.1M | Capital outflows: $45.3M
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
4% less first-time investments, than exits
New positions opened: 23 | Existing positions closed: 24
2.29% less ownership
Funds ownership: 98.18% → 95.89% (-2.3%)
3% less funds holding
Funds holding: 117 → 114 (-3)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BCC
Biglari Capital Corp
San Antonio,
Texas
|
+$17.2M |
| 2 |
Two Sigma Investments
New York
|
+$13.1M |
| 3 |
Millennium Management
New York
|
+$2.94M |
| 4 |
Renaissance Technologies
New York
|
+$2.15M |
| 5 |
HRT Financial
New York
|
+$2.02M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Invesco
Atlanta,
Georgia
|
-$5.65M |
| 2 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
-$4.26M |
| 3 |
Jane Street
New York
|
-$3.52M |
| 4 |
Arrowstreet Capital
Boston,
Massachusetts
|
-$3.41M |
| 5 |
Tudor Investment Corp
Stamford,
Connecticut
|
-$3.2M |
BH Hedge Fund Activity: Q2 2026 in Review
114 of the 8,355 institutional investors tracked by Wall St. Rank reported a position in Biglari Holdings Class B (BH) for Q2 2026, worth a combined $851M — up 30% from $653M a quarter earlier.
Sellers outnumbered buyers: 24 funds closed out of BH and 23 opened new positions — a net loss of 1 holder — while 29 trimmed existing stakes and 34 added.
The largest buyer was Biglari Capital Corp, adding an estimated $17.2M. The largest seller was Invesco, cutting an estimated $5.65M.
- 114 institutional investors held Biglari Holdings Class B (BH) as of Q2 2026, down from 117 in Q1 2026.
- Funds reported $851M of Biglari Holdings Class B stock for Q2 2026, up 30% quarter-over-quarter.
- 23 funds opened new Biglari Holdings Class B positions in Q2 2026 and 24 closed out, a net change of -1 holder.
- The largest Biglari Holdings Class B buyer in Q2 2026 was Biglari Capital Corp, an estimated $17.2M added.
- The largest Biglari Holdings Class B seller in Q2 2026 was Invesco, an estimated $5.65M sold.
Based on aggregated 13F filings for Q2 2026.