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 |
|---|---|---|---|---|---|
| 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 |
| American Capital Advisory, LLC | 3 | $650 | 0.00% | 00.0% | Unchanged |
| EverSource Wealth Advisors, LLC | 3 | $650 | 0.00% | +3 | New |
| CIBC Private Wealth Group, LLC | 4 | $814 | 0.00% | 00.0% | Unchanged |
| GAMMA Investing LLC | 4 | $866 | 0.00% | −1−20.0% | Reduced |
| Smartleaf Asset Management LLC | 10 | $2.16K | 0.00% | 00.0% | Unchanged |
| Jones Financial Companies LLLP | 12 | $2.59K | 0.00% | +12 | New |
| Sterling Capital Management LLC | 23 | $4.98K | 0.00% | −11−32.4% | Reduced |
| Amalgamated Bank | 25 | $5.00K | 0.00% | 00.0% | Unchanged |
| North Star Investment Management Corp. | 26 | $5.63K | 0.00% | 00.0% | Unchanged |
| CWM, LLC | 31 | $7.00K | 0.00% | +5+19.2% | Added |
| Aster Capital Management (DIFC) Ltd | 29 | $7.11K | 0.00% | +27+1,350.0% | Added |
| BNP Paribas Arbitrage, SA | 44 | $9.53K | 0.00% | −78−63.9% | Reduced |
| Larson Financial Group LLC | 50 | $10.8K | 0.00% | 00.0% | Unchanged |
| California State Teachers Retirement System | 53 | $11.5K | 0.00% | 00.0% | Unchanged |
| Legal & General Group Plc | 65 | $14.1K | 0.00% | 00.0% | Unchanged |
| Barrow Hanley Mewhinney & Strauss LLC | 67 | $14.5K | 0.00% | 00.0% | Unchanged |
| FMR LLC | 69 | $14.9K | 0.00% | −9−11.5% | Reduced |
| Comerica Bank | 70 | $15.2K | 0.00% | 00.0% | Unchanged |
| Hoey Investments, Inc | 72 | $15.6K | 0.00% | 00.0% | Unchanged |
| Ameritas Investment Partners, Inc. | 80 | $17.3K | 0.00% | 00.0% | Unchanged |
| Tower Research Capital LLC (TRC) | 117 | $25.3K | 0.00% | +71+154.3% | Added |
| Police & Firemen's Retirement System of New Jersey | 121 | $26.2K | 0.00% | +121 | New |
| Corebridge Financial, Inc. | 356 | $77.1K | 0.00% | −6−1.7% | Reduced |
| Deutsche Bank AG | 364 | $78.8K | 0.00% | +192+111.6% | Added |
| Public Employees Retirement Association of Colorado | 398 | $86.0K | 0.00% | 00.0% | Unchanged |
| Advisor Group Holdings, Inc. | 400 | $86.6K | 0.00% | +198+98.0% | Added |
| Mirae Asset Global ETFs Holdings Ltd. | 435 | $94.2K | 0.00% | +33+8.2% | Added |
| Wells Fargo & Company | 436 | $94.4K | 0.00% | +9+2.1% | Added |
| MetLife Investment Management | 459 | $99.4K | 0.00% | 00.0% | Unchanged |
| Bartlett & Co. Wealth Management LLC | 503 | $108.9K | 0.00% | +503 | New |
| New York State Common Retirement Fund | 526 | $113.9K | 0.00% | −160−23.3% | Reduced |
| Citigroup Inc | 547 | $118.4K | 0.00% | −53−8.8% | Reduced |
| Royal Bank of Canada | 755 | $163.0K | 0.00% | −254−25.2% | Reduced |
| Bank of America Corp | 894 | $193.6K | 0.00% | −500−35.9% | Reduced |
| Millennium Management LLC | 993 | $215.0K | 0.00% | +993 | New |
| Rhumbline Advisers | 1,105 | $239.3K | 0.00% | −34−3.0% | Reduced |
| LPL Financial LLC | 1,172 | $253.8K | 0.00% | +76+6.9% | Added |
| Jane Street Group, LLC | 1,189 | $257.5K | 0.00% | +1,189 | New |
| State of Wisconsin Investment Board | 1,200 | $259.8K | 0.00% | +1,200 | New |
| Susquehanna International Group, LLP | 1,314 | $284.5K | 0.00% | +1,314 | New |
| Jacobs Levy Equity Management, Inc | 1,451 | $314.2K | 0.00% | 00.0% | Unchanged |
| Barclays PLC | 1,613 | $349.3K | 0.00% | −362−18.3% | Reduced |
| Bank of New York Mellon Corp | 2,023 | $438.1K | 0.00% | +195+10.7% | Added |
| Cerity Partners LLC | 2,091 | $452.8K | 0.00% | +2,091 | New |
| Gsa Capital Partners LLP | 2,168 | $469.0K | 0.04% | −10.0% | Reduced |
| UBS Group AG | 2,281 | $493.9K | 0.00% | +1,082+90.2% | 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 |
| Charles Schwab Investment Management Inc | 2,338 | $506.3K | 0.00% | +11+0.5% | Added |
| HRT Financial LP | 2,426 | $525.0K | 0.00% | +2,426 | New |
| Allspring Global Investments Holdings, LLC | 2,496 | $540.5K | 0.00% | −179−6.7% | Reduced |
| Morgan Stanley | 2,843 | $615.7K | 0.00% | −1,606−36.1% | Reduced |
| Ritholtz Wealth Management | 3,250 | $703.8K | 0.02% | +1,846+131.5% | Added |
| Martingale Asset Management L P | 3,284 | $711.1K | 0.02% | 00.0% | Unchanged |
| Los Angeles Capital Management LLC | 3,438 | $744.5K | 0.00% | −480−12.3% | Reduced |
| Goldman Sachs Group Inc | 3,584 | $776.1K | 0.00% | −68−1.9% | Reduced |
| Renaissance Technologies LLC | 5,926 | $1.28M | 0.00% | +410+7.4% | Added |
| O'Shaughnessy Asset Management, LLC | 6,216 | $1.35M | 0.01% | +3,457+125.3% | Added |
| Northern Trust Corp | 7,552 | $1.64M | 0.00% | −246−3.2% | Reduced |
| Empowered Funds, LLC | 9,433 | $2.04M | 0.03% | +165+1.8% | Added |
| Connor, Clark & Lunn Investment Management Ltd. | 12,029 | $2.60M | 0.01% | +142+1.2% | Added |
| State Street Corp | 13,145 | $2.85M | 0.00% | +140+1.1% | Added |
| Peapod Lane Capital LLC | 13,829 | $2.99M | 3.37% | −742−5.1% | Reduced |
| Arrowstreet Capital, Limited Partnership | 14,538 | $3.15M | 0.00% | +1,282+9.7% | Added |
| Bridgeway Capital Management, LLC | 15,633 | $3.39M | 0.09% | +165+1.1% | Added |
| Geode Capital Management, LLC | 15,796 | $3.42M | 0.00% | +112+0.7% | Added |
| Nuveen, LLC | 18,309 | $3.96M | 0.00% | +18,309 | New |
| JPMorgan Chase & Co | 27,376 | $5.93M | 0.00% | +11,241+69.7% | Added |
| Vanguard Group Inc | 40,930 | $8.86M | 0.00% | +3,469+9.3% | Added |
| BlackRock, Inc. | 54,661 | $11.8M | 0.00% | −744−1.3% | Reduced |
| Dimensional Fund Advisors LP | 92,694 | $20.1M | 0.00% | +1,225+1.3% | Added |
| Biglari Capital Corp. | 1,394,437 | $302.0M | 42.59% | 00.0% | Unchanged |
| 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 |