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 |
|---|---|---|---|---|---|
| Smartleaf Asset Management LLC | 1 | $311 | 0.00% | 00.0% | Unchanged |
| True Wealth Design, LLC | 1 | $330 | 0.00% | 00.0% | Unchanged |
| Rothschild Investment LLC | 1 | $330 | 0.00% | 00.0% | Unchanged |
| SBI Securities Co., Ltd. | 1 | $330 | 0.00% | 00.0% | Unchanged |
| Salem Investment Counselors Inc | 1 | $330 | 0.00% | +1 | New |
| Basecamp Wealth Advisors LLC | 1 | $330 | 0.00% | +1 | New |
| Nisa Investment Advisors, LLC | 2 | $659 | 0.00% | 00.0% | Unchanged |
| Parallel Advisors, LLC | 2 | $659 | 0.00% | +2 | New |
| IFP Advisors, Inc | 4 | $1.32K | 0.00% | 00.0% | Unchanged |
| Allworth Financial LP | 4 | $1.32K | 0.00% | +4 | New |
| Country Trust Bank | 5 | $1.65K | 0.00% | 00.0% | Unchanged |
| MAI Capital Management | 5 | $1.65K | 0.00% | +5 | New |
| Optiver Holding B.V. | 6 | $1.98K | 0.00% | −16−72.7% | Reduced |
| GAMMA Investing LLC | 8 | $2.64K | 0.00% | 00.0% | Unchanged |
| Northwestern Mutual Wealth Management Co | 11 | $3.63K | 0.00% | +11 | New |
| EverSource Wealth Advisors, LLC | 11 | $3.63K | 0.00% | 00.0% | Unchanged |
| Caitlin John, LLC | 15 | $4.94K | 0.00% | 00.0% | Unchanged |
| MPWM Advisory Solutions, LLC | 20 | $6.59K | 0.00% | +20 | New |
| North Star Investment Management Corp. | 26 | $8.57K | 0.00% | 00.0% | Unchanged |
| Farther Finance Advisors, LLC | 32 | $10.6K | 0.00% | −27−45.8% | Reduced |
| Sterling Capital Management LLC | 33 | $10.9K | 0.00% | −16−32.7% | Reduced |
| California State Teachers Retirement System | 37 | $12.2K | 0.00% | −5−11.9% | Reduced |
| Hoey Investments, Inc | 39 | $12.9K | 0.00% | 00.0% | Unchanged |
| Larson Financial Group LLC | 50 | $16.5K | 0.00% | 00.0% | Unchanged |
| Ameritas Investment Partners, Inc. | 56 | $18.5K | 0.00% | 00.0% | Unchanged |
| Legal & General Group Plc | 65 | $21.4K | 0.00% | 00.0% | Unchanged |
| Fifth Third Bancorp | 70 | $23.1K | 0.00% | +70 | New |
| Tower Research Capital LLC (TRC) | 72 | $23.7K | 0.00% | +27+60.0% | Added |
| Royal Bank of Canada | 86 | $28.0K | 0.00% | −56−39.4% | Reduced |
| Rockefeller Capital Management L.P. | 85 | $28.0K | 0.00% | +68+400.0% | Added |
| Russell Investments Group, Ltd. | 103 | $33.9K | 0.00% | +23+28.7% | Added |
| Jones Financial Companies LLLP | 143 | $43.7K | 0.00% | +52+57.1% | Added |
| CWM, LLC | 154 | $50.8K | 0.00% | +13+9.2% | Added |
| KLP Kapitalforvaltning AS | 160 | $52.7K | 0.00% | +160 | New |
| BNP Paribas Arbitrage, SA | 162 | $53.4K | 0.00% | +4+2.5% | Added |
| Vanguard Global Advisers, LLC | 163 | $53.7K | 0.00% | +163 | New |
| Police & Firemen's Retirement System of New Jersey | 171 | $56.4K | 0.00% | 00.0% | Unchanged |
| Caitong International Asset Management Co., Ltd | 186 | $61.3K | 0.01% | −21−10.1% | Reduced |
| FMR LLC | 236 | $77.7K | 0.00% | −126−34.8% | Reduced |
| Wells Fargo & Company | 285 | $93.9K | 0.00% | −500−63.7% | Reduced |
| Vanguard Investments Australia, Ltd. | 312 | $102.8K | 0.00% | +312 | New |
| Citigroup Inc | 315 | $103.8K | 0.00% | −846−72.9% | Reduced |
| Public Employees Retirement Association of Colorado | 320 | $105.0K | 0.00% | 00.0% | Unchanged |
| Mirae Asset Global ETFs Holdings Ltd. | 325 | $107.1K | 0.00% | 00.0% | Unchanged |
| Bartlett & Co. Wealth Management LLC | 392 | $111.7K | 0.00% | −111−22.1% | Reduced |
| State of Alaska, Department of Revenue | 353 | $115.0K | 0.00% | 00.0% | Unchanged |
| Deutsche Bank AG | 419 | $138.1K | 0.00% | 00.0% | Unchanged |
| New York State Common Retirement Fund | 426 | $140.4K | 0.00% | 00.0% | Unchanged |
| MetLife Investment Management | 441 | $145.3K | 0.00% | 00.0% | Unchanged |
| Advisor Group Holdings, Inc. | 462 | $152.3K | 0.00% | +448+3,200.0% | Added |
| Vanguard Asset Management, Ltd | 487 | $160.5K | 0.00% | +487 | New |
| Skopos Labs, Inc. | 700 | $230.7K | 0.01% | −480−40.7% | Reduced |
| Occudo Quantitative Strategies LP | 811 | $250.8K | 0.01% | −1,570−65.9% | Reduced |
| Brevan Howard Capital Management LP | 795 | $262.0K | 0.00% | +795 | New |
| Rhumbline Advisers | 852 | $280.8K | 0.00% | +2+0.2% | Added |
| CenterBook Partners LP | 853 | $281.1K | 0.02% | +853 | New |
| Alliancebernstein L.P. | 931 | $309.5K | 0.00% | −570−38.0% | Reduced |
| Polymer Capital Management (US) LLC | 988 | $325.6K | 0.05% | −183−15.6% | Reduced |
| Martingale Asset Management L P | 1,101 | $362.9K | 0.01% | 00.0% | Unchanged |
| American Century Companies Inc | 1,116 | $367.8K | 0.00% | 00.0% | Unchanged |
| LPL Financial LLC | 1,130 | $372.4K | 0.00% | −922−44.9% | Reduced |
| Bank of America Corp | 1,287 | $424.2K | 0.00% | +557+76.3% | Added |
| Huntleigh Advisors, Inc. | 1,401 | $461.8K | 0.08% | +1,401 | New |
| Swiss National Bank | 1,440 | $474.6K | 0.00% | +1,440 | New |
| Jacobs Levy Equity Management, Inc | 1,451 | $478.2K | 0.00% | 00.0% | Unchanged |
| HSBC Holdings PLC | 1,523 | $495.0K | 0.00% | +22+1.5% | Added |
| Freestone Grove Partners LP | 1,508 | $497.0K | 0.00% | +1,508 | New |
| SG Americas Securities, LLC | 1,517 | $500.0K | 0.00% | +1,517 | New |
| UBS Group AG | 1,601 | $527.7K | 0.00% | −2,321−59.2% | Reduced |
| Bank of New York Mellon Corp | 1,673 | $551.2K | 0.00% | −111−6.2% | Reduced |
| Rathbone Brothers plc | 1,700 | $560.3K | 0.00% | −600−26.1% | Reduced |
| STRS Ohio | 1,900 | $626.2K | 0.00% | +100+5.6% | Added |
| Shay Capital LLC | 1,915 | $631.2K | 0.09% | +1,165+155.3% | Added |
| Gsa Capital Partners LLP | 2,135 | $704.0K | 0.04% | +793+59.1% | Added |
| Barclays PLC | 2,279 | $751.1K | 0.00% | +894+64.5% | Added |
| EntryPoint Capital, LLC | 2,449 | $807.2K | 0.24% | +1,708+230.5% | Added |
| Ritholtz Wealth Management | 2,511 | $827.6K | 0.01% | −986−28.2% | Reduced |
| Voloridge Investment Management, LLC | 2,686 | $885.3K | 0.00% | +2,686 | New |
| UBS Asset Management Americas Inc | 2,973 | $979.9K | 0.00% | +2,973 | New |
| Logan Stone Capital, LLC | 3,095 | $1.02M | 0.28% | +1,475+91.0% | Added |
| Morgan Stanley | 3,286 | $1.08M | 0.00% | −2,715−45.2% | Reduced |
| Swiss Life Asset Management Ltd | 66,094 | $1.20M | 0.01% | +66,094 | New |
| O'Shaughnessy Asset Management, LLC | 4,110 | $1.35M | 0.01% | −1,135−21.6% | Reduced |
| Nuveen, LLC | 4,245 | $1.40M | 0.00% | +871+25.8% | Added |
| Y-Intercept (Hong Kong) Ltd | 4,260 | $1.40M | 0.03% | +4,260 | New |
| Vanguard Fiduciary Trust Co | 4,272 | $1.41M | 0.00% | +4,272 | New |
| Dark Forest Capital Management LP | 4,336 | $1.43M | 0.13% | +4,336 | New |
| Bridgeway Capital Management, LLC | 4,985 | $1.64M | 0.03% | −12,691−71.8% | Reduced |
| Quadrature Capital Ltd | 5,054 | $1.67M | 0.02% | +3,461+217.3% | Added |
| Point72 Asset Management, L.P. | 5,224 | $1.72M | 0.00% | −5,466−51.1% | Reduced |
| Pacer Advisors, Inc. | 5,346 | $1.76M | 0.01% | −753−12.3% | Reduced |
| D. E. Shaw & Co., Inc. | 5,570 | $1.84M | 0.00% | +5,570 | New |
| AQR Capital Management LLC | 5,934 | $1.96M | 0.00% | +72+1.2% | Added |
| Charles Schwab Investment Management Inc | 6,839 | $2.25M | 0.00% | −188−2.7% | Reduced |
| Northern Trust Corp | 6,933 | $2.29M | 0.00% | +324+4.9% | Added |
| Vanguard Portfolio Management LLC | 7,598 | $2.50M | 0.00% | +7,598 | New |
| Two Sigma Investments, LP | 8,595 | $2.83M | 0.00% | +941+12.3% | Added |
| Goldman Sachs Group Inc | 9,353 | $3.08M | 0.00% | +180+2.0% | Added |
| Tudor Investment Corp Et Al | 9,700 | $3.20M | 0.02% | +9,700 | New |
| Arrowstreet Capital, Limited Partnership | 10,354 | $3.41M | 0.00% | −14,694−58.7% | Reduced |