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, Q3 2025
Institutional positions in Biglari Holdings Inc. as of Sep 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
- 97
- +5 vs. Q2 2025
- Shares held
- 1.89M
- +63.9K (+3.5%) vs. Q2 2025
- Total value
- $612.7M
- +$78.2M (+14.6%) vs. Q2 2025
- New holders
- 17
- 31 more added
- Sold out
- 12
- 24 more reduced
Compare with Q2 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, Q3 2025
Shares, value and share of portfolio for each institution holding Biglari Holdings Inc.; share changes are against Q2 2025.
| Institution | Shares | Value | % of portfolio | Change in shares | Action |
|---|---|---|---|---|---|
| Biglari Capital Corp. | 1,394,437 | $451.3M | 49.42% | 00.0% | Unchanged |
| Dimensional Fund Advisors LP | 100,819 | $32.6M | 0.01% | +5,908+6.2% | Added |
| BlackRock, Inc. | 53,905 | $17.4M | 0.00% | +1,997+3.8% | Added |
| Invesco Ltd. | 40,443 | $13.1M | 0.00% | +30,810+319.8% | Added |
| Vanguard Group Inc | 38,102 | $12.3M | 0.00% | +122+0.3% | Added |
| JPMorgan Chase & Co | 32,656 | $10.6M | 0.00% | +5,650+20.9% | Added |
| Bridgeway Capital Management, LLC | 16,944 | $5.48M | 0.12% | +666+4.1% | Added |
| State Street Corp | 15,850 | $5.13M | 0.00% | +313+2.0% | Added |
| Renaissance Technologies LLC | 15,376 | $4.98M | 0.01% | +9,050+143.1% | Added |
| Arrowstreet Capital, Limited Partnership | 14,625 | $4.73M | 0.00% | +458+3.2% | Added |
| Morgan Stanley | 14,562 | $4.71M | 0.00% | +3,775+35.0% | Added |
| Geode Capital Management, LLC | 14,421 | $4.67M | 0.00% | −974−6.3% | Reduced |
| Peapod Lane Capital LLC | 12,309 | $3.98M | 3.56% | −1,567−11.3% | Reduced |
| Two Sigma Investments, LP | 11,563 | $3.74M | 0.01% | +7,163+162.8% | Added |
| Connor, Clark & Lunn Investment Management Ltd. | 11,028 | $3.57M | 0.01% | −1,598−12.7% | Reduced |
| Empowered Funds, LLC | 10,744 | $3.48M | 0.04% | +666+6.6% | Added |
| Charles Schwab Investment Management Inc | 7,211 | $2.33M | 0.00% | +5,012+227.9% | Added |
| Northern Trust Corp | 7,129 | $2.31M | 0.00% | +52+0.7% | Added |
| Pacer Advisors, Inc. | 6,470 | $2.09M | 0.01% | +6,470 | New |
| O'Shaughnessy Asset Management, LLC | 6,103 | $1.98M | 0.01% | −278−4.4% | Reduced |
| Qube Research & Technologies Ltd | 4,811 | $1.56M | 0.00% | +4,811 | New |
| Goldman Sachs Group Inc | 4,136 | $1.34M | 0.00% | +3,275+380.4% | Added |
| UBS Group AG | 3,990 | $1.29M | 0.00% | +2,443+157.9% | Added |
| Nuveen, LLC | 3,677 | $1.19M | 0.00% | −11,878−76.4% | Reduced |
| Ritholtz Wealth Management | 3,657 | $1.18M | 0.02% | −89−2.4% | Reduced |
| AQR Capital Management LLC | 3,179 | $1.03M | 0.00% | +2,384+299.9% | Added |
| Jump Financial, LLC | 2,980 | $964.5K | 0.01% | −3−0.1% | Reduced |
| Cubist Systematic Strategies, LLC | 2,690 | $870.5K | 0.01% | +2,690 | New |
| Los Angeles Capital Management LLC | 2,548 | $824.7K | 0.00% | −245−8.8% | Reduced |
| Rathbone Brothers plc | 2,300 | $744.4K | 0.00% | 00.0% | Unchanged |
| Gsa Capital Partners LLP | 2,300 | $744.0K | 0.06% | −468−16.9% | Reduced |
| Martingale Asset Management L P | 2,152 | $696.5K | 0.02% | −800−27.1% | Reduced |
| Barclays PLC | 2,152 | $696.5K | 0.00% | +1,007+87.9% | Added |
| Bank of New York Mellon Corp | 1,929 | $624.3K | 0.00% | −209−9.8% | Reduced |
| LPL Financial LLC | 1,914 | $619.5K | 0.00% | +728+61.4% | Added |
| STRS Ohio | 1,800 | $582.6K | 0.00% | 00.0% | Unchanged |
| Semanteon Capital Management, LP | 1,747 | $565.4K | 0.71% | +1,747 | New |
| State of Wisconsin Investment Board | 1,588 | $514.0K | 0.00% | +1,588 | New |
| Alliancebernstein L.P. | 1,501 | $485.8K | 0.00% | +100+7.1% | Added |
| Point72 Asset Management, L.P. | 1,462 | $473.3K | 0.00% | +1,462 | New |
| Jacobs Levy Equity Management, Inc | 1,451 | $469.6K | 0.00% | 00.0% | Unchanged |
| HRT Financial LP | 1,174 | $379.0K | 0.00% | −667−36.2% | Reduced |
| American Century Companies Inc | 1,116 | $361.2K | 0.00% | −44−3.8% | Reduced |
| Citigroup Inc | 1,063 | $344.0K | 0.00% | +794+295.2% | Added |
| Rhumbline Advisers | 1,021 | $330.4K | 0.00% | −36−3.4% | Reduced |
| Occudo Quantitative Strategies LP | 1,011 | $327.2K | 0.04% | +65+6.9% | Added |
| Two Sigma Advisers, LP | 1,000 | $323.6K | 0.00% | −500−33.3% | Reduced |
| Balyasny Asset Management LLC | 781 | $252.8K | 0.00% | +781 | New |
| Engineers Gate Manager LP | 724 | $234.3K | 0.00% | −939−56.5% | Reduced |
| Wells Fargo & Company | 717 | $231.9K | 0.00% | +284+65.6% | Added |
| Dynamic Technology Lab Private Ltd | 636 | $206.0K | 0.03% | +636 | New |
| New York State Common Retirement Fund | 526 | $170.2K | 0.00% | 00.0% | Unchanged |
| Bartlett & Co. Wealth Management LLC | 503 | $162.8K | 0.00% | 00.0% | Unchanged |
| Bank of America Corp | 479 | $155.0K | 0.00% | −221−31.6% | Reduced |
| MetLife Investment Management | 459 | $148.6K | 0.00% | 00.0% | Unchanged |
| Advisor Group Holdings, Inc. | 458 | $148.2K | 0.00% | +441+2,594.1% | Added |
| Deutsche Bank AG | 364 | $117.8K | 0.00% | 00.0% | Unchanged |
| Public Employees Retirement Association of Colorado | 320 | $104.0K | 0.00% | −78−19.6% | Reduced |
| Mirae Asset Global ETFs Holdings Ltd. | 313 | $101.3K | 0.00% | −56−15.2% | Reduced |
| FMR LLC | 189 | $61.0K | 0.00% | +97+105.4% | Added |
| Police & Firemen's Retirement System of New Jersey | 171 | $55.3K | 0.00% | 00.0% | Unchanged |
| State of Alaska, Department of Revenue | 160 | $51.0K | 0.00% | +160 | New |
| BNP Paribas Arbitrage, SA | 138 | $44.7K | 0.00% | −286−67.5% | Reduced |
| Meeder Asset Management Inc | 106 | $34.3K | 0.00% | +106 | New |
| CWM, LLC | 97 | $31.0K | 0.00% | +58+148.7% | Added |
| Quest Partners LLC | 94 | $30.4K | 0.00% | −425−81.9% | Reduced |
| Jones Financial Companies LLLP | 89 | $29.1K | 0.00% | +50+128.2% | Added |
| Russell Investments Group, Ltd. | 85 | $27.5K | 0.00% | +73+608.3% | Added |
| Ameritas Investment Partners, Inc. | 80 | $25.9K | 0.00% | 00.0% | Unchanged |
| Comerica Bank | 70 | $22.7K | 0.00% | 00.0% | Unchanged |
| Legal & General Group Plc | 65 | $21.0K | 0.00% | 00.0% | Unchanged |
| Royal Bank of Canada | 66 | $21.0K | 0.00% | −695−91.3% | Reduced |
| Tower Research Capital LLC (TRC) | 63 | $20.4K | 0.00% | −20−24.1% | Reduced |
| Sterling Capital Management LLC | 57 | $18.4K | 0.00% | +28+96.6% | Added |
| California State Teachers Retirement System | 53 | $17.2K | 0.00% | 00.0% | Unchanged |
| Larson Financial Group LLC | 50 | $16.2K | 0.00% | 00.0% | Unchanged |
| Caitong International Asset Management Co., Ltd | 42 | $13.6K | 0.01% | +42 | New |
| Hoey Investments, Inc | 39 | $12.6K | 0.00% | −33−45.8% | Reduced |
| SRS Capital Advisors, Inc. | 28 | $9.06K | 0.00% | +28 | New |
| North Star Investment Management Corp. | 26 | $8.41K | 0.00% | 00.0% | Unchanged |
| Amalgamated Bank | 25 | $8.00K | 0.00% | 00.0% | Unchanged |
| Global Retirement Partners, LLC | 19 | $6.15K | 0.00% | 00.0% | Unchanged |
| Caitlin John, LLC | 15 | $4.86K | 0.00% | +15 | New |
| Optiver Holding B.V. | 12 | $3.88K | 0.00% | +12 | New |
| EverSource Wealth Advisors, LLC | 9 | $2.91K | 0.00% | 00.0% | Unchanged |
| GAMMA Investing LLC | 8 | $2.59K | 0.00% | +2+33.3% | Added |
| Country Trust Bank | 5 | $1.62K | 0.00% | 00.0% | Unchanged |
| CIBC Private Wealth Group, LLC | 4 | $1.29K | 0.00% | 00.0% | Unchanged |
| American Capital Advisory, LLC | 3 | $971 | 0.00% | 00.0% | Unchanged |
| Nisa Investment Advisors, LLC | 2 | $647 | 0.00% | 00.0% | Unchanged |
| IFP Advisors, Inc | 1 | $324 | 0.00% | +1 | Added |
| Salem Investment Counselors Inc | 1 | $324 | 0.00% | 00.0% | Unchanged |
| True Wealth Design, LLC | 1 | $324 | 0.00% | 00.0% | Unchanged |
| SBI Securities Co., Ltd. | 1 | $324 | 0.00% | 00.0% | Unchanged |
| Clearstead Advisors, LLC | 1 | $324 | 0.00% | +1 | New |
| Smartleaf Asset Management LLC | 1 | $324 | 0.00% | +1 | New |
| Essential Partners LLC | 1 | $324 | 0.00% | +1 | New |
| Citadel Advisors LLC | 0 | $0 | 0.00% | −6,759−100.0% | Sold out |
| Man Group plc | 0 | $0 | 0.00% | −2,985−100.0% | Sold out |
| Trexquant Investment LP | 0 | $0 | 0.00% | −1,484−100.0% | Sold out |