Biglari Holdings Inc.
BH.A- Exchange
- NYSE
- Industry
- Retail-Eating Places
- SEC CIK
- 0001726173
No open-market purchases or sales by Biglari Holdings Inc. insiders were filed in the last 90 days; 58 institutions reported holding it in 13F filings for Q2 2026, worth $453.6M in total; no superinvestor holds it.
Other share classesBH
13F holders, Q4 2025
Institutional positions in Biglari Holdings Inc. as of Dec 31, 2025. Investment managers with $100 million or more in US stocks report their long positions on Form 13F within 45 days after each quarter ends. How 13F works
- Institutional holders
- 36
- −3 vs. Q3 2025
- Shares held
- 193.6K
- +1.73K (+0.9%) vs. Q3 2025
- Total value
- $336.9M
- +$40.4M (+13.6%) vs. Q3 2025
- New holders
- 6
- 16 more added
- Sold out
- 9
- 9 more reduced
1 institution that held it in Q3 2025 haven't filed for Q4 2025 yet. Not filing isn't selling, so they aren't counted as sold out or in the changes above.
Compare with Q3 2025: new holders, sold out and not filed yet
Holders and value by quarter
Institutions reporting BH.A on Form 13F each quarter since Q1 2021, and the total value they reported. Values are as of each quarter end, so they also move with the share price.
| Quarter | Holders | Value |
|---|---|---|
| Q2 2026 | 58 | $453.6M |
| Q1 2026 | 43 | $353.3M |
| Q4 2025 | 36 | $336.9M |
| Q3 2025 | 40 | $297.2M |
| Q2 2025 | 27 | $256.3M |
| Q1 2025 | 22 | $200.7M |
| Q4 2024 | 24 | $232.2M |
| Q3 2024 | 23 | $146.5M |
| Q2 2024 | 22 | $160.8M |
| Q1 2024 | 20 | $170.0M |
| Q4 2023 | 19 | $139.3M |
| Q3 2023 | 18 | $146.4M |
| Q2 2023 | 19 | $166.8M |
| Q1 2023 | 21 | $146.9M |
| Q4 2022 | 18 | $121.1M |
| Q3 2022 | 20 | $108.4M |
| Q2 2022 | 19 | $104.2M |
| Q1 2022 | 28 | $131.6M |
| Q4 2021 | 25 | $125.8M |
| Q3 2021 | 26 | $150.6M |
| Q2 2021 | 33 | $143.6M |
| Q1 2021 | 41 | $126.6M |
Institutions, Q4 2025
Shares, value and share of portfolio for each institution holding Biglari Holdings Inc.; share changes are against Q3 2025.
| Institution | Shares | Value | % of portfolio | Change in shares | Action |
|---|---|---|---|---|---|
| Sterling Capital Management LLC | 1 | $1.74K | 0.00% | 00.0% | Unchanged |
| North Star Investment Management Corp. | 2 | $3.48K | 0.00% | 00.0% | Unchanged |
| Citigroup Inc | 4 | $6.96K | 0.00% | 00.0% | Unchanged |
| Royal Bank of Canada | 4 | $7.00K | 0.00% | −24−85.7% | Reduced |
| Comerica Bank | 7 | $12.2K | 0.00% | 00.0% | Unchanged |
| Qube Research & Technologies Ltd | 12 | $20.9K | 0.00% | −710−98.3% | Reduced |
| Bank of America Corp | 18 | $31.3K | 0.00% | +1+5.9% | Added |
| Quantbot Technologies LP | 28 | $48.7K | 0.00% | −559−95.2% | Reduced |
| FMR LLC | 30 | $52.5K | 0.00% | +30 | Added |
| Caitong International Asset Management Co., Ltd | 65 | $113.1K | 0.03% | +27+71.1% | Added |
| UBS Group AG | 66 | $114.8K | 0.00% | +47+247.4% | Added |
| Northern Trust Corp | 141 | $245.3K | 0.00% | +141 | New |
| Morgan Stanley | 142 | $247.1K | 0.00% | +13+10.1% | Added |
| Balyasny Asset Management LLC | 228 | $396.7K | 0.00% | +228 | New |
| Aquatic Capital Management LLC | 248 | $431.5K | 0.01% | +248 | New |
| JPMorgan Chase & Co | 252 | $438.5K | 0.00% | +252 | New |
| HRT Financial LP | 260 | $452.0K | 0.00% | −370−58.7% | Reduced |
| Jane Street Group, LLC | 401 | $697.8K | 0.00% | +401 | New |
| Millennium Management LLC | 408 | $709.9K | 0.00% | +249+156.6% | Added |
| Point72 Asset Management, L.P. | 462 | $803.9K | 0.00% | +462 | New |
| Omers Administration Corp | 500 | $870.0K | 0.01% | +300+150.0% | Added |
| Citadel Advisors LLC | 508 | $883.9K | 0.00% | −256−33.5% | Reduced |
| Goldman Sachs Group Inc | 563 | $979.6K | 0.00% | +403+251.9% | Added |
| Marshall Wace, LLP | 677 | $1.18M | 0.00% | +19+2.9% | Added |
| State Street Corp | 770 | $1.34M | 0.00% | +158+25.8% | Added |
| Geode Capital Management, LLC | 860 | $1.50M | 0.00% | −62−6.7% | Reduced |
| Arrowstreet Capital, Limited Partnership | 883 | $1.54M | 0.00% | +817+1,237.9% | Added |
| Gabelli Funds LLC | 1,560 | $2.71M | 0.02% | 00.0% | Unchanged |
| BlackRock, Inc. | 1,579 | $2.75M | 0.00% | +15+1.0% | Added |
| Trexquant Investment LP | 1,852 | $3.22M | 0.03% | +1,145+162.0% | Added |
| Check Capital Management Inc | 2,200 | $3.83M | 0.23% | −12−0.5% | Reduced |
| Vanguard Group Inc | 2,494 | $4.34M | 0.00% | −473−15.9% | Reduced |
| Renaissance Technologies LLC | 4,230 | $7.36M | 0.01% | +712+20.2% | Added |
| Dimensional Fund Advisors LP | 5,856 | $10.2M | 0.00% | +52+0.9% | Added |
| Gamco Investors, Inc. Et Al | 11,857 | $20.6M | 0.20% | −293−2.4% | Reduced |
| Biglari Capital Corp. | 154,474 | $268.8M | 28.82% | +797+0.5% | Added |
| Quadrature Capital Ltd | 0 | $0 | 0.00% | −560−100.0% | Sold out |
| XTX Topco Ltd | 0 | $0 | 0.00% | −356−100.0% | Sold out |
| ExodusPoint Capital Management, LP | 0 | $0 | 0.00% | −279−100.0% | Sold out |
| Engineers Gate Manager LP | 0 | $0 | 0.00% | −260−100.0% | Sold out |
| Marex Group plc | 0 | $0 | 0.00% | −202−100.0% | Sold out |
| Semanteon Capital Management, LP | 0 | $0 | 0.00% | −177−100.0% | Sold out |
| Verition Fund Management LLC | 0 | $0 | 0.00% | −160−100.0% | Sold out |
| Tower Research Capital LLC (TRC) | 0 | $0 | 0.00% | −34−100.0% | Sold out |
| Country Trust Bank | 0 | $0 | 0.00% | −1−100.0% | Sold out |
| Cubist Systematic Strategies, LLC | – | – | – | – | Not filed |