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 2026
Institutional positions in Biglari Holdings Inc. as of Mar 31, 2026. 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
- 116
- +14 vs. Q4 2025
- Shares held
- 2.04M
- +153.4K (+8.1%) vs. Q4 2025
- Total value
- $652.9M
- +$24.2M (+3.9%) vs. Q4 2025
- New holders
- 30
- 31 more added
- Sold out
- 16
- 30 more reduced
4 institutions that held it in Q4 2025 haven't filed for Q1 2026 yet. Not filing isn't selling, so they aren't counted as sold out or in the changes above.
Compare with Q4 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, Q1 2026
Shares, value and share of portfolio for each institution holding Biglari Holdings Inc.; share changes are against Q4 2025.
| Institution | Shares | Value | % of portfolio | Change in shares | Action |
|---|---|---|---|---|---|
| Biglari Capital Corp. | 1,417,285 | $467.1M | 50.26% | +9,717+0.7% | Added |
| Dimensional Fund Advisors LP | 102,247 | $33.7M | 0.01% | +57+0.1% | Added |
| BlackRock, Inc. | 45,046 | $14.8M | 0.00% | −4,797−9.6% | Reduced |
| Marshall Wace, LLP | 32,207 | $10.6M | 0.01% | +31,503+4,474.9% | Added |
| Vanguard Capital Management LLC | 29,755 | $9.81M | 0.00% | +29,755 | New |
| Qube Research & Technologies Ltd | 22,415 | $7.39M | 0.01% | +2,024+9.9% | Added |
| Renaissance Technologies LLC | 21,742 | $7.17M | 0.01% | +10,772+98.2% | Added |
| Trexquant Investment LP | 21,710 | $7.16M | 0.05% | +13,757+173.0% | Added |
| Invesco Ltd. | 19,938 | $6.57M | 0.00% | −4,075−17.0% | Reduced |
| Jane Street Group, LLC | 17,409 | $5.74M | 0.01% | +17,409 | New |
| Millennium Management LLC | 17,342 | $5.72M | 0.00% | +6,794+64.4% | Added |
| State Street Corp | 13,943 | $4.60M | 0.00% | +779+5.9% | Added |
| Geode Capital Management, LLC | 13,834 | $4.56M | 0.00% | −798−5.5% | Reduced |
| JPMorgan Chase & Co | 12,308 | $3.83M | 0.00% | −3,759−23.4% | Reduced |
| Connor, Clark & Lunn Investment Management Ltd. | 11,339 | $3.74M | 0.01% | +317+2.9% | Added |
| XTX Topco Ltd | 10,605 | $3.50M | 0.06% | +10,605 | New |
| Arrowstreet Capital, Limited Partnership | 10,354 | $3.41M | 0.00% | −14,694−58.7% | Reduced |
| Tudor Investment Corp Et Al | 9,700 | $3.20M | 0.02% | +9,700 | New |
| Goldman Sachs Group Inc | 9,353 | $3.08M | 0.00% | +180+2.0% | Added |
| Two Sigma Investments, LP | 8,595 | $2.83M | 0.00% | +941+12.3% | Added |
| Vanguard Portfolio Management LLC | 7,598 | $2.50M | 0.00% | +7,598 | New |
| Northern Trust Corp | 6,933 | $2.29M | 0.00% | +324+4.9% | Added |
| Charles Schwab Investment Management Inc | 6,839 | $2.25M | 0.00% | −188−2.7% | Reduced |
| AQR Capital Management LLC | 5,934 | $1.96M | 0.00% | +72+1.2% | Added |
| D. E. Shaw & Co., Inc. | 5,570 | $1.84M | 0.00% | +5,570 | New |
| Pacer Advisors, Inc. | 5,346 | $1.76M | 0.01% | −753−12.3% | Reduced |
| Point72 Asset Management, L.P. | 5,224 | $1.72M | 0.00% | −5,466−51.1% | Reduced |
| Quadrature Capital Ltd | 5,054 | $1.67M | 0.02% | +3,461+217.3% | Added |
| Bridgeway Capital Management, LLC | 4,985 | $1.64M | 0.03% | −12,691−71.8% | Reduced |
| Dark Forest Capital Management LP | 4,336 | $1.43M | 0.13% | +4,336 | New |
| Vanguard Fiduciary Trust Co | 4,272 | $1.41M | 0.00% | +4,272 | New |
| Y-Intercept (Hong Kong) Ltd | 4,260 | $1.40M | 0.03% | +4,260 | New |
| Nuveen, LLC | 4,245 | $1.40M | 0.00% | +871+25.8% | Added |
| O'Shaughnessy Asset Management, LLC | 4,110 | $1.35M | 0.01% | −1,135−21.6% | Reduced |
| Swiss Life Asset Management Ltd | 66,094 | $1.20M | 0.01% | +66,094 | New |
| Morgan Stanley | 3,286 | $1.08M | 0.00% | −2,715−45.2% | Reduced |
| Logan Stone Capital, LLC | 3,095 | $1.02M | 0.28% | +1,475+91.0% | Added |
| UBS Asset Management Americas Inc | 2,973 | $979.9K | 0.00% | +2,973 | New |
| Voloridge Investment Management, LLC | 2,686 | $885.3K | 0.00% | +2,686 | New |
| Ritholtz Wealth Management | 2,511 | $827.6K | 0.01% | −986−28.2% | Reduced |
| EntryPoint Capital, LLC | 2,449 | $807.2K | 0.24% | +1,708+230.5% | Added |
| Barclays PLC | 2,279 | $751.1K | 0.00% | +894+64.5% | Added |
| Gsa Capital Partners LLP | 2,135 | $704.0K | 0.04% | +793+59.1% | Added |
| Shay Capital LLC | 1,915 | $631.2K | 0.09% | +1,165+155.3% | Added |
| STRS Ohio | 1,900 | $626.2K | 0.00% | +100+5.6% | Added |
| Rathbone Brothers plc | 1,700 | $560.3K | 0.00% | −600−26.1% | Reduced |
| Bank of New York Mellon Corp | 1,673 | $551.2K | 0.00% | −111−6.2% | Reduced |
| UBS Group AG | 1,601 | $527.7K | 0.00% | −2,321−59.2% | Reduced |
| SG Americas Securities, LLC | 1,517 | $500.0K | 0.00% | +1,517 | New |
| Freestone Grove Partners LP | 1,508 | $497.0K | 0.00% | +1,508 | New |
| HSBC Holdings PLC | 1,523 | $495.0K | 0.00% | +22+1.5% | Added |
| Jacobs Levy Equity Management, Inc | 1,451 | $478.2K | 0.00% | 00.0% | Unchanged |
| Swiss National Bank | 1,440 | $474.6K | 0.00% | +1,440 | New |
| Huntleigh Advisors, Inc. | 1,401 | $461.8K | 0.08% | +1,401 | New |
| Bank of America Corp | 1,287 | $424.2K | 0.00% | +557+76.3% | Added |
| LPL Financial LLC | 1,130 | $372.4K | 0.00% | −922−44.9% | Reduced |
| American Century Companies Inc | 1,116 | $367.8K | 0.00% | 00.0% | Unchanged |
| Martingale Asset Management L P | 1,101 | $362.9K | 0.01% | 00.0% | Unchanged |
| Polymer Capital Management (US) LLC | 988 | $325.6K | 0.05% | −183−15.6% | Reduced |
| Alliancebernstein L.P. | 931 | $309.5K | 0.00% | −570−38.0% | Reduced |
| CenterBook Partners LP | 853 | $281.1K | 0.02% | +853 | New |
| Rhumbline Advisers | 852 | $280.8K | 0.00% | +2+0.2% | Added |
| Brevan Howard Capital Management LP | 795 | $262.0K | 0.00% | +795 | New |
| Occudo Quantitative Strategies LP | 811 | $250.8K | 0.01% | −1,570−65.9% | Reduced |
| Skopos Labs, Inc. | 700 | $230.7K | 0.01% | −480−40.7% | Reduced |
| Vanguard Asset Management, Ltd | 487 | $160.5K | 0.00% | +487 | New |
| Advisor Group Holdings, Inc. | 462 | $152.3K | 0.00% | +448+3,200.0% | Added |
| MetLife Investment Management | 441 | $145.3K | 0.00% | 00.0% | Unchanged |
| New York State Common Retirement Fund | 426 | $140.4K | 0.00% | 00.0% | Unchanged |
| Deutsche Bank AG | 419 | $138.1K | 0.00% | 00.0% | Unchanged |
| State of Alaska, Department of Revenue | 353 | $115.0K | 0.00% | 00.0% | Unchanged |
| Bartlett & Co. Wealth Management LLC | 392 | $111.7K | 0.00% | −111−22.1% | Reduced |
| Mirae Asset Global ETFs Holdings Ltd. | 325 | $107.1K | 0.00% | 00.0% | Unchanged |
| Public Employees Retirement Association of Colorado | 320 | $105.0K | 0.00% | 00.0% | Unchanged |
| Citigroup Inc | 315 | $103.8K | 0.00% | −846−72.9% | Reduced |
| Vanguard Investments Australia, Ltd. | 312 | $102.8K | 0.00% | +312 | New |
| Wells Fargo & Company | 285 | $93.9K | 0.00% | −500−63.7% | Reduced |
| FMR LLC | 236 | $77.7K | 0.00% | −126−34.8% | Reduced |
| Caitong International Asset Management Co., Ltd | 186 | $61.3K | 0.01% | −21−10.1% | Reduced |
| Police & Firemen's Retirement System of New Jersey | 171 | $56.4K | 0.00% | 00.0% | Unchanged |
| Vanguard Global Advisers, LLC | 163 | $53.7K | 0.00% | +163 | New |
| BNP Paribas Arbitrage, SA | 162 | $53.4K | 0.00% | +4+2.5% | Added |
| KLP Kapitalforvaltning AS | 160 | $52.7K | 0.00% | +160 | New |
| CWM, LLC | 154 | $50.8K | 0.00% | +13+9.2% | Added |
| Jones Financial Companies LLLP | 143 | $43.7K | 0.00% | +52+57.1% | Added |
| Russell Investments Group, Ltd. | 103 | $33.9K | 0.00% | +23+28.7% | Added |
| Rockefeller Capital Management L.P. | 85 | $28.0K | 0.00% | +68+400.0% | Added |
| Royal Bank of Canada | 86 | $28.0K | 0.00% | −56−39.4% | Reduced |
| Tower Research Capital LLC (TRC) | 72 | $23.7K | 0.00% | +27+60.0% | Added |
| Fifth Third Bancorp | 70 | $23.1K | 0.00% | +70 | New |
| Legal & General Group Plc | 65 | $21.4K | 0.00% | 00.0% | Unchanged |
| Ameritas Investment Partners, Inc. | 56 | $18.5K | 0.00% | 00.0% | Unchanged |
| Larson Financial Group LLC | 50 | $16.5K | 0.00% | 00.0% | Unchanged |
| Hoey Investments, Inc | 39 | $12.9K | 0.00% | 00.0% | Unchanged |
| California State Teachers Retirement System | 37 | $12.2K | 0.00% | −5−11.9% | Reduced |
| Sterling Capital Management LLC | 33 | $10.9K | 0.00% | −16−32.7% | Reduced |
| Farther Finance Advisors, LLC | 32 | $10.6K | 0.00% | −27−45.8% | Reduced |
| North Star Investment Management Corp. | 26 | $8.57K | 0.00% | 00.0% | Unchanged |
| MPWM Advisory Solutions, LLC | 20 | $6.59K | 0.00% | +20 | New |
| Caitlin John, LLC | 15 | $4.94K | 0.00% | 00.0% | Unchanged |