BH Biglari Holdings, Inc.

NYSE
$376.97

Biglari Holdings, Inc. (BH) Hedge Fund Activity

This view isolates hedge funds from the broader institutional ownership shown on the Institutional tab. A pension fund tracking an index may have no view on a stock; when a hedge fund builds or exits a position, that decision can carry information. This page measures those changes. Positions as of June 30, 2026.

Based on quarterly 13F long-equity filings. Changes compare reported quarter-end positions; filings can be reported up to 45 days later and do not represent a fund's complete exposure.

Hedge fund breadth
-15.79
8 buyers / 11 sellers
SELLING
Funds compared
19
funds with comparable BH positions
14 current holders · 15 prior-quarter holders
Net share change
+22.2K
+69.0K added, -46.9K cut
Position activity
4 new 4 increased 6 reduced 5 exited

Most significant moves

Ranked by conviction, not size — how much of the fund's own book the position represents, how far it moved, and what kind of fund made it.

Fund Action Shares changed Change Est. value Portfolio wt. Score
CITADEL ADVISORS LLC Quant New +3.0K — $1.3M 0.0% 60
Tudor Investment Corporation Macro Sold Out -9.7K -100.0% $4.1M 0.0% 56
Voloridge Investment Management Quant Sold Out -2.7K -100.0% $1.1M 0.0% 55
TWO SIGMA INVESTMENTS, LP Quant Increased +42.0K +488.9% $17.9M 0.0% 55
Quadrature Capital Quant Sold Out -5.1K -100.0% $2.2M 0.0% 55
Squarepoint Ops LLC Quant New +663 — $282.5K 0.0% 54
Brevan Howard Capital Management Macro Sold Out -795 -100.0% $338.7K 0.0% 49
D. E. Shaw & Co., Inc. Quant Reduced -4.6K -81.7% $1.9M 0.0% 49
CenterBook Partners Long/Short Quant Sold Out -853 -100.0% $363.4K 0.0% 49
Centiva Capital Long/Short Quant New +1.6K — $668.9K 0.0% 48

Most significant buyers

By move score, not size.

  • CITADEL ADVISORS LLC New · +3.0K
  • TWO SIGMA INVESTMENTS, LP Increased · +42.0K
  • Squarepoint Ops LLC New · +663
  • Centiva Capital New · +1.6K
  • Engineers Gate New · +1.9K

Most significant sellers

By move score, not size.

  • Tudor Investment Corporation Sold Out · -9.7K
  • Voloridge Investment Management Sold Out · -2.7K
  • Quadrature Capital Sold Out · -5.1K
  • Brevan Howard Capital Management Sold Out · -795
  • D. E. Shaw & Co., Inc. Reduced · -4.6K

Hedge fund positions

Fund Tier Shares Previous Change Change % Portfolio wt. Action Score
CITADEL ADVISORS LLC 1 3.0K 0 +3.0K — 0.0% New 60
Tudor Investment Corporation 2 0 9.7K -9.7K -100.0% 0.0% Sold Out 56
Voloridge Investment Management 2 0 2.7K -2.7K -100.0% 0.0% Sold Out 55
TWO SIGMA INVESTMENTS, LP 2 50.6K 8.6K +42.0K +488.9% 0.0% Increased 55
Quadrature Capital 3 0 5.1K -5.1K -100.0% 0.0% Sold Out 55
Squarepoint Ops LLC 2 663 0 +663 — 0.0% New 54
Brevan Howard Capital Management 3 0 795 -795 -100.0% 0.0% Sold Out 49
D. E. Shaw & Co., Inc. 1 1.0K 5.6K -4.6K -81.7% 0.0% Reduced 49
CenterBook Partners 4 0 853 -853 -100.0% 0.0% Sold Out 49
Centiva Capital 4 1.6K 0 +1.6K — 0.0% New 48
Engineers Gate 4 1.9K 0 +1.9K — 0.0% New 48
MILLENNIUM MANAGEMENT LLC 2 26.8K 17.3K +9.4K +54.4% 0.0% Increased 42
Qube Research & Technologies Ltd 2 8.8K 22.4K -13.6K -60.9% 0.0% Reduced 41
RENAISSANCE TECHNOLOGIES LLC 1 28.6K 21.7K +6.9K +31.7% 0.0% Increased 37
AQR Capital Management 3 9.5K 5.9K +3.6K +59.9% 0.0% Increased 37
Point72 Asset Management, L.P. 1 4.2K 5.2K -1.0K -19.8% 0.0% Reduced 33
Trexquant Investment 3 14.6K 21.7K -7.2K -32.9% 0.0% Reduced 30
MARSHALL WACE, LLP 2 31.0K 32.2K -1.2K -3.7% 0.0% Reduced 26
Y-Intercept 4 4.1K 4.3K -205 -4.8% 0.0% Reduced 19

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Hedge funds are identified from their 13F filings, which are due 45 days after quarter end and cover long U.S.-listed equity positions only. A fund's short book never appears, so a reduced position can mean a changed view or a changed hedge — the filing doesn't say which.