Biglari Holdings Inc.
BH- 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; 113 institutions reported holding it in 13F filings for Q2 2026, worth $850.5M in total; no superinvestor holds it.
Other share classesBH.A
13F holders, Q1 2025
Institutional positions in Biglari Holdings Inc. as of Mar 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
- 75
- +2 vs. Q4 2024
- Shares held
- 1.80M
- +26.1K (+1.5%) vs. Q4 2024
- Total value
- $389.0M
- −$61.2M (−13.6%) vs. Q4 2024
- New holders
- 13
- 24 more added
- Sold out
- 11
- 19 more reduced
2 institutions that held it in Q4 2024 haven't filed for Q1 2025 yet. Not filing isn't selling, so they aren't counted as sold out or in the changes above.
Compare with Q4 2024: new holders, sold out and not filed yet
Holders and value by quarter
Institutions reporting BH 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 | 113 | $850.5M |
| Q1 2026 | 116 | $652.9M |
| Q4 2025 | 106 | $642.0M |
| Q3 2025 | 97 | $612.7M |
| Q2 2025 | 92 | $534.5M |
| Q1 2025 | 75 | $389.0M |
| Q4 2024 | 75 | $454.5M |
| Q3 2024 | 69 | $293.0M |
| Q2 2024 | 72 | $328.7M |
| Q1 2024 | 68 | $320.7M |
| Q4 2023 | 68 | $278.2M |
| Q3 2023 | 67 | $275.8M |
| Q2 2023 | 72 | $330.1M |
| Q1 2023 | 72 | $279.2M |
| Q4 2022 | 60 | $226.8M |
| Q3 2022 | 56 | $189.0M |
| Q2 2022 | 63 | $202.5M |
| Q1 2022 | 67 | $243.1M |
| Q4 2021 | 65 | $244.7M |
| Q3 2021 | 76 | $289.8M |
| Q2 2021 | 72 | $268.1M |
| Q1 2021 | 70 | $226.0M |
Institutions, Q1 2025
Shares, value and share of portfolio for each institution holding Biglari Holdings Inc.; share changes are against Q4 2024.
| Institution | Shares | Value | % of portfolio | Change in shares | Action |
|---|---|---|---|---|---|
| Biglari Capital Corp. | 1,394,437 | $302.0M | 42.59% | 00.0% | Unchanged |
| Dimensional Fund Advisors LP | 92,694 | $20.1M | 0.00% | +1,225+1.3% | Added |
| BlackRock, Inc. | 54,661 | $11.8M | 0.00% | −744−1.3% | Reduced |
| Vanguard Group Inc | 40,930 | $8.86M | 0.00% | +3,469+9.3% | Added |
| JPMorgan Chase & Co | 27,376 | $5.93M | 0.00% | +11,241+69.7% | Added |
| Nuveen, LLC | 18,309 | $3.96M | 0.00% | +18,309 | New |
| Geode Capital Management, LLC | 15,796 | $3.42M | 0.00% | +112+0.7% | Added |
| Bridgeway Capital Management, LLC | 15,633 | $3.39M | 0.09% | +165+1.1% | Added |
| Arrowstreet Capital, Limited Partnership | 14,538 | $3.15M | 0.00% | +1,282+9.7% | Added |
| Peapod Lane Capital LLC | 13,829 | $2.99M | 3.37% | −742−5.1% | Reduced |
| State Street Corp | 13,145 | $2.85M | 0.00% | +140+1.1% | Added |
| Connor, Clark & Lunn Investment Management Ltd. | 12,029 | $2.60M | 0.01% | +142+1.2% | Added |
| Empowered Funds, LLC | 9,433 | $2.04M | 0.03% | +165+1.8% | Added |
| Northern Trust Corp | 7,552 | $1.64M | 0.00% | −246−3.2% | Reduced |
| O'Shaughnessy Asset Management, LLC | 6,216 | $1.35M | 0.01% | +3,457+125.3% | Added |
| Renaissance Technologies LLC | 5,926 | $1.28M | 0.00% | +410+7.4% | Added |
| Goldman Sachs Group Inc | 3,584 | $776.1K | 0.00% | −68−1.9% | Reduced |
| Los Angeles Capital Management LLC | 3,438 | $744.5K | 0.00% | −480−12.3% | Reduced |
| Martingale Asset Management L P | 3,284 | $711.1K | 0.02% | 00.0% | Unchanged |
| Ritholtz Wealth Management | 3,250 | $703.8K | 0.02% | +1,846+131.5% | Added |
| Morgan Stanley | 2,843 | $615.7K | 0.00% | −1,606−36.1% | Reduced |
| Allspring Global Investments Holdings, LLC | 2,496 | $540.5K | 0.00% | −179−6.7% | Reduced |
| HRT Financial LP | 2,426 | $525.0K | 0.00% | +2,426 | New |
| Charles Schwab Investment Management Inc | 2,338 | $506.3K | 0.00% | +11+0.5% | Added |
| Rathbone Brothers plc | 2,300 | $498.0K | 0.00% | 00.0% | Unchanged |
| STRS Ohio | 2,300 | $498.0K | 0.00% | +100+4.5% | Added |
| UBS Group AG | 2,281 | $493.9K | 0.00% | +1,082+90.2% | Added |
| Gsa Capital Partners LLP | 2,168 | $469.0K | 0.04% | −10.0% | Reduced |
| Cerity Partners LLC | 2,091 | $452.8K | 0.00% | +2,091 | New |
| Bank of New York Mellon Corp | 2,023 | $438.1K | 0.00% | +195+10.7% | Added |
| Barclays PLC | 1,613 | $349.3K | 0.00% | −362−18.3% | Reduced |
| Jacobs Levy Equity Management, Inc | 1,451 | $314.2K | 0.00% | 00.0% | Unchanged |
| Susquehanna International Group, LLP | 1,314 | $284.5K | 0.00% | +1,314 | New |
| State of Wisconsin Investment Board | 1,200 | $259.8K | 0.00% | +1,200 | New |
| Jane Street Group, LLC | 1,189 | $257.5K | 0.00% | +1,189 | New |
| LPL Financial LLC | 1,172 | $253.8K | 0.00% | +76+6.9% | Added |
| Rhumbline Advisers | 1,105 | $239.3K | 0.00% | −34−3.0% | Reduced |
| Millennium Management LLC | 993 | $215.0K | 0.00% | +993 | New |
| Bank of America Corp | 894 | $193.6K | 0.00% | −500−35.9% | Reduced |
| Royal Bank of Canada | 755 | $163.0K | 0.00% | −254−25.2% | Reduced |
| Citigroup Inc | 547 | $118.4K | 0.00% | −53−8.8% | Reduced |
| New York State Common Retirement Fund | 526 | $113.9K | 0.00% | −160−23.3% | Reduced |
| Bartlett & Co. Wealth Management LLC | 503 | $108.9K | 0.00% | +503 | New |
| MetLife Investment Management | 459 | $99.4K | 0.00% | 00.0% | Unchanged |
| Wells Fargo & Company | 436 | $94.4K | 0.00% | +9+2.1% | Added |
| Mirae Asset Global ETFs Holdings Ltd. | 435 | $94.2K | 0.00% | +33+8.2% | Added |
| Advisor Group Holdings, Inc. | 400 | $86.6K | 0.00% | +198+98.0% | Added |
| Public Employees Retirement Association of Colorado | 398 | $86.0K | 0.00% | 00.0% | Unchanged |
| Deutsche Bank AG | 364 | $78.8K | 0.00% | +192+111.6% | Added |
| Corebridge Financial, Inc. | 356 | $77.1K | 0.00% | −6−1.7% | Reduced |
| Police & Firemen's Retirement System of New Jersey | 121 | $26.2K | 0.00% | +121 | New |
| Tower Research Capital LLC (TRC) | 117 | $25.3K | 0.00% | +71+154.3% | Added |
| Ameritas Investment Partners, Inc. | 80 | $17.3K | 0.00% | 00.0% | Unchanged |
| Hoey Investments, Inc | 72 | $15.6K | 0.00% | 00.0% | Unchanged |
| Comerica Bank | 70 | $15.2K | 0.00% | 00.0% | Unchanged |
| FMR LLC | 69 | $14.9K | 0.00% | −9−11.5% | Reduced |
| Barrow Hanley Mewhinney & Strauss LLC | 67 | $14.5K | 0.00% | 00.0% | Unchanged |
| Legal & General Group Plc | 65 | $14.1K | 0.00% | 00.0% | Unchanged |
| California State Teachers Retirement System | 53 | $11.5K | 0.00% | 00.0% | Unchanged |
| Larson Financial Group LLC | 50 | $10.8K | 0.00% | 00.0% | Unchanged |
| BNP Paribas Arbitrage, SA | 44 | $9.53K | 0.00% | −78−63.9% | Reduced |
| Aster Capital Management (DIFC) Ltd | 29 | $7.11K | 0.00% | +27+1,350.0% | Added |
| CWM, LLC | 31 | $7.00K | 0.00% | +5+19.2% | Added |
| North Star Investment Management Corp. | 26 | $5.63K | 0.00% | 00.0% | Unchanged |
| Amalgamated Bank | 25 | $5.00K | 0.00% | 00.0% | Unchanged |
| Sterling Capital Management LLC | 23 | $4.98K | 0.00% | −11−32.4% | Reduced |
| Jones Financial Companies LLLP | 12 | $2.59K | 0.00% | +12 | New |
| Smartleaf Asset Management LLC | 10 | $2.16K | 0.00% | 00.0% | Unchanged |
| GAMMA Investing LLC | 4 | $866 | 0.00% | −1−20.0% | Reduced |
| CIBC Private Wealth Group, LLC | 4 | $814 | 0.00% | 00.0% | Unchanged |
| American Capital Advisory, LLC | 3 | $650 | 0.00% | 00.0% | Unchanged |
| EverSource Wealth Advisors, LLC | 3 | $650 | 0.00% | +3 | New |
| Salem Investment Counselors Inc | 1 | $217 | 0.00% | 00.0% | Unchanged |
| SBI Securities Co., Ltd. | 1 | $217 | 0.00% | +1 | New |
| True Wealth Design, LLC | 1 | $217 | 0.00% | +1 | New |
| Invesco Ltd. | 0 | $0 | 0.00% | −15,805−100.0% | Sold out |
| Marquette Asset Management, LLC | 0 | $0 | 0.00% | −2,116−100.0% | Sold out |
| Bailard, Inc. | 0 | $0 | 0.00% | −1,207−100.0% | Sold out |
| Prudential Financial Inc | 0 | $0 | 0.00% | −834−100.0% | Sold out |
| Alliancebernstein L.P. | 0 | $0 | 0.00% | −821−100.0% | Sold out |
| Ethic Inc. | 0 | $0 | 0.00% | −806−100.0% | Sold out |
| SG Americas Securities, LLC | 0 | $0 | 0.00% | −454−100.0% | Sold out |
| Atticus Wealth Management, LLC | 0 | $0 | 0.00% | −100−100.0% | Sold out |
| Moisand Fitzgerald Tamayo, LLC | 0 | $0 | 0.00% | −21−100.0% | Sold out |
| Caitlin John, LLC | 0 | $0 | 0.00% | −15−100.0% | Sold out |
| The PNC Financial Services Group, Inc. | 0 | $0 | 0.00% | −8−100.0% | Sold out |
| Nuveen Asset Management, LLC | – | – | – | – | Not filed |
| Global Retirement Partners, LLC | – | – | – | – | Not filed |