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, Q2 2025
Institutional positions in Biglari Holdings Inc. as of Jun 30, 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
- 92
- +17 vs. Q1 2025
- Shares held
- 1.83M
- +32.9K (+1.8%) vs. Q1 2025
- Total value
- $534.5M
- +$145.5M (+37.4%) vs. Q1 2025
- New holders
- 24
- 23 more added
- Sold out
- 7
- 24 more reduced
Compare with Q1 2025: 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, Q2 2025
Shares, value and share of portfolio for each institution holding Biglari Holdings Inc.; share changes are against Q1 2025.
| Institution | Shares | Value | % of portfolio | Change in shares | Action |
|---|---|---|---|---|---|
| Biglari Capital Corp. | 1,394,437 | $407.5M | 47.10% | 00.0% | Unchanged |
| Dimensional Fund Advisors LP | 94,911 | $27.7M | 0.01% | +2,217+2.4% | Added |
| BlackRock, Inc. | 51,908 | $15.2M | 0.00% | −2,753−5.0% | Reduced |
| Vanguard Group Inc | 37,980 | $11.1M | 0.00% | −2,950−7.2% | Reduced |
| JPMorgan Chase & Co | 27,006 | $7.89M | 0.00% | −370−1.4% | Reduced |
| Bridgeway Capital Management, LLC | 16,278 | $4.76M | 0.11% | +645+4.1% | Added |
| Nuveen, LLC | 15,555 | $4.55M | 0.00% | −2,754−15.0% | Reduced |
| State Street Corp | 15,537 | $4.54M | 0.00% | +2,392+18.2% | Added |
| Geode Capital Management, LLC | 15,395 | $4.50M | 0.00% | −401−2.5% | Reduced |
| Arrowstreet Capital, Limited Partnership | 14,167 | $4.14M | 0.00% | −371−2.6% | Reduced |
| Peapod Lane Capital LLC | 13,876 | $4.05M | 4.06% | +47+0.3% | Added |
| Connor, Clark & Lunn Investment Management Ltd. | 12,626 | $3.69M | 0.01% | +597+5.0% | Added |
| Morgan Stanley | 10,787 | $3.15M | 0.00% | +7,944+279.4% | Added |
| Empowered Funds, LLC | 10,078 | $2.94M | 0.03% | +645+6.8% | Added |
| Invesco Ltd. | 9,633 | $2.81M | 0.00% | +9,633 | New |
| Northern Trust Corp | 7,077 | $2.07M | 0.00% | −475−6.3% | Reduced |
| Citadel Advisors LLC | 6,759 | $1.98M | 0.00% | +6,759 | New |
| O'Shaughnessy Asset Management, LLC | 6,381 | $1.86M | 0.01% | +165+2.7% | Added |
| Renaissance Technologies LLC | 6,326 | $1.85M | 0.00% | +400+6.7% | Added |
| Two Sigma Investments, LP | 4,400 | $1.29M | 0.00% | +4,400 | New |
| Ritholtz Wealth Management | 3,746 | $1.09M | 0.02% | +496+15.3% | Added |
| Man Group plc | 2,985 | $872.2K | 0.00% | +2,985 | New |
| Jump Financial, LLC | 2,983 | $871.7K | 0.01% | +2,983 | New |
| Martingale Asset Management L P | 2,952 | $862.6K | 0.02% | −332−10.1% | Reduced |
| Los Angeles Capital Management LLC | 2,793 | $816.1K | 0.00% | −645−18.8% | Reduced |
| Gsa Capital Partners LLP | 2,768 | $809.0K | 0.06% | +600+27.7% | Added |
| Rathbone Brothers plc | 2,300 | $672.1K | 0.00% | 00.0% | Unchanged |
| Charles Schwab Investment Management Inc | 2,199 | $642.6K | 0.00% | −139−5.9% | Reduced |
| Bank of New York Mellon Corp | 2,138 | $624.7K | 0.00% | +115+5.7% | Added |
| HRT Financial LP | 1,841 | $537.0K | 0.00% | −585−24.1% | Reduced |
| STRS Ohio | 1,800 | $526.0K | 0.00% | −500−21.7% | Reduced |
| Engineers Gate Manager LP | 1,663 | $485.9K | 0.01% | +1,663 | New |
| UBS Group AG | 1,547 | $452.0K | 0.00% | −734−32.2% | Reduced |
| Two Sigma Advisers, LP | 1,500 | $438.3K | 0.00% | +1,500 | New |
| Trexquant Investment LP | 1,484 | $433.6K | 0.00% | +1,484 | New |
| Jacobs Levy Equity Management, Inc | 1,451 | $424.0K | 0.00% | 00.0% | Unchanged |
| Alliancebernstein L.P. | 1,401 | $409.4K | 0.00% | +1,401 | New |
| Brevan Howard Capital Management LP | 1,398 | $408.5K | 0.00% | +1,398 | New |
| Squarepoint Ops LLC | 1,323 | $386.6K | 0.00% | +1,323 | New |
| LPL Financial LLC | 1,186 | $346.6K | 0.00% | +14+1.2% | Added |
| American Century Companies Inc | 1,160 | $339.0K | 0.00% | +1,160 | New |
| Barclays PLC | 1,145 | $334.6K | 0.00% | −468−29.0% | Reduced |
| Millennium Management LLC | 1,075 | $314.1K | 0.00% | +82+8.3% | Added |
| Rhumbline Advisers | 1,057 | $308.9K | 0.00% | −48−4.3% | Reduced |
| Occudo Quantitative Strategies LP | 946 | $276.4K | 0.03% | +946 | New |
| Centiva Capital, LP | 887 | $259.2K | 0.02% | +887 | New |
| Goldman Sachs Group Inc | 861 | $251.6K | 0.00% | −2,723−76.0% | Reduced |
| Axq Capital, LP | 852 | $249.0K | 0.08% | +852 | New |
| Susquehanna International Group, LLP | 816 | $238.4K | 0.00% | −498−37.9% | Reduced |
| AQR Capital Management LLC | 795 | $232.3K | 0.00% | +795 | New |
| Royal Bank of Canada | 761 | $223.0K | 0.00% | +6+0.8% | Added |
| Bank of America Corp | 700 | $204.5K | 0.00% | −194−21.7% | Reduced |
| New York State Common Retirement Fund | 526 | $153.7K | 0.00% | 00.0% | Unchanged |
| Quest Partners LLC | 519 | $151.7K | 0.01% | +519 | New |
| Bartlett & Co. Wealth Management LLC | 503 | $147.0K | 0.00% | 00.0% | Unchanged |
| MetLife Investment Management | 459 | $134.1K | 0.00% | 00.0% | Unchanged |
| Wells Fargo & Company | 433 | $126.5K | 0.00% | −3−0.7% | Reduced |
| BNP Paribas Arbitrage, SA | 424 | $123.9K | 0.00% | +380+863.6% | Added |
| Public Employees Retirement Association of Colorado | 398 | $116.0K | 0.00% | 00.0% | Unchanged |
| Mirae Asset Global ETFs Holdings Ltd. | 369 | $107.8K | 0.00% | −66−15.2% | Reduced |
| Deutsche Bank AG | 364 | $106.4K | 0.00% | 00.0% | Unchanged |
| Raymond James Financial Inc | 360 | $105.2K | 0.00% | +360 | New |
| Citigroup Inc | 269 | $78.6K | 0.00% | −278−50.8% | Reduced |
| Police & Firemen's Retirement System of New Jersey | 171 | $50.0K | 0.00% | +50+41.3% | Added |
| FMR LLC | 92 | $26.9K | 0.00% | +23+33.3% | Added |
| Tower Research Capital LLC (TRC) | 83 | $24.3K | 0.00% | −34−29.1% | Reduced |
| Ameritas Investment Partners, Inc. | 80 | $23.4K | 0.00% | 00.0% | Unchanged |
| Hoey Investments, Inc | 72 | $21.0K | 0.00% | 00.0% | Unchanged |
| Comerica Bank | 70 | $20.5K | 0.00% | 00.0% | Unchanged |
| Legal & General Group Plc | 65 | $19.0K | 0.00% | 00.0% | Unchanged |
| California State Teachers Retirement System | 53 | $15.5K | 0.00% | 00.0% | Unchanged |
| Larson Financial Group LLC | 50 | $14.6K | 0.00% | 00.0% | Unchanged |
| Thurston, Springer, Miller, Herd & Titak, Inc. | 40 | $11.7K | 0.00% | +40 | New |
| Jones Financial Companies LLLP | 39 | $11.4K | 0.00% | +27+225.0% | Added |
| CWM, LLC | 39 | $11.0K | 0.00% | +8+25.8% | Added |
| Sterling Capital Management LLC | 29 | $8.47K | 0.00% | +6+26.1% | Added |
| North Star Investment Management Corp. | 26 | $7.60K | 0.00% | 00.0% | Unchanged |
| Amalgamated Bank | 25 | $7.00K | 0.00% | 00.0% | Unchanged |
| Global Retirement Partners, LLC | 19 | $5.55K | 0.00% | +19 | New |
| Advisor Group Holdings, Inc. | 17 | $4.97K | 0.00% | −383−95.8% | Reduced |
| Russell Investments Group, Ltd. | 12 | $3.51K | 0.00% | +12 | New |
| EverSource Wealth Advisors, LLC | 9 | $2.63K | 0.00% | +6+200.0% | Added |
| GAMMA Investing LLC | 6 | $1.75K | 0.00% | +2+50.0% | Added |
| Country Trust Bank | 5 | $1.46K | 0.00% | +5 | New |
| Aster Capital Management (DIFC) Ltd | 4 | $1.17K | 0.00% | −25−86.2% | Reduced |
| CIBC Private Wealth Group, LLC | 4 | $1.17K | 0.00% | 00.0% | Unchanged |
| American Capital Advisory, LLC | 3 | $877 | 0.00% | 00.0% | Unchanged |
| Nisa Investment Advisors, LLC | 2 | $584 | 0.00% | +2 | New |
| IFP Advisors, Inc | 0 | $584 | 0.00% | 0 | New |
| Salem Investment Counselors Inc | 1 | $293 | 0.00% | 00.0% | Unchanged |
| True Wealth Design, LLC | 1 | $293 | 0.00% | 00.0% | Unchanged |
| SBI Securities Co., Ltd. | 1 | $292 | 0.00% | 00.0% | Unchanged |
| Allspring Global Investments Holdings, LLC | 0 | $0 | 0.00% | −2,496−100.0% | Sold out |
| Cerity Partners LLC | 0 | $0 | 0.00% | −2,091−100.0% | Sold out |
| State of Wisconsin Investment Board | 0 | $0 | 0.00% | −1,200−100.0% | Sold out |
| Jane Street Group, LLC | 0 | $0 | 0.00% | −1,189−100.0% | Sold out |
| Corebridge Financial, Inc. | 0 | $0 | 0.00% | −356−100.0% | Sold out |
| Barrow Hanley Mewhinney & Strauss LLC | 0 | $0 | 0.00% | −67−100.0% | Sold out |
| Smartleaf Asset Management LLC | 0 | $0 | 0.00% | −10−100.0% | Sold out |