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