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 |
|---|---|---|---|---|---|
| XTX Topco Ltd | 10,605 | $3.50M | 0.06% | +10,605 | New |
| Connor, Clark & Lunn Investment Management Ltd. | 11,339 | $3.74M | 0.01% | +317+2.9% | Added |
| JPMorgan Chase & Co | 12,308 | $3.83M | 0.00% | −3,759−23.4% | Reduced |
| Geode Capital Management, LLC | 13,834 | $4.56M | 0.00% | −798−5.5% | Reduced |
| State Street Corp | 13,943 | $4.60M | 0.00% | +779+5.9% | Added |
| Millennium Management LLC | 17,342 | $5.72M | 0.00% | +6,794+64.4% | Added |
| Jane Street Group, LLC | 17,409 | $5.74M | 0.01% | +17,409 | New |
| Invesco Ltd. | 19,938 | $6.57M | 0.00% | −4,075−17.0% | Reduced |
| Trexquant Investment LP | 21,710 | $7.16M | 0.05% | +13,757+173.0% | Added |
| Renaissance Technologies LLC | 21,742 | $7.17M | 0.01% | +10,772+98.2% | Added |
| Qube Research & Technologies Ltd | 22,415 | $7.39M | 0.01% | +2,024+9.9% | Added |
| Vanguard Capital Management LLC | 29,755 | $9.81M | 0.00% | +29,755 | New |
| Marshall Wace, LLP | 32,207 | $10.6M | 0.01% | +31,503+4,474.9% | Added |
| BlackRock, Inc. | 45,046 | $14.8M | 0.00% | −4,797−9.6% | Reduced |
| Dimensional Fund Advisors LP | 102,247 | $33.7M | 0.01% | +57+0.1% | Added |
| Biglari Capital Corp. | 1,417,285 | $467.1M | 50.26% | +9,717+0.7% | Added |
| Peapod Lane Capital LLC | 0 | $0 | 0.00% | −12,399−100.0% | Sold out |
| Empowered Funds, LLC | 0 | $0 | 0.00% | −11,607−100.0% | Sold out |
| Citadel Advisors LLC | 0 | $0 | 0.00% | −8,671−100.0% | Sold out |
| Los Angeles Capital Management LLC | 0 | $0 | 0.00% | −2,532−100.0% | Sold out |
| State of Wisconsin Investment Board | 0 | $0 | 0.00% | −2,366−100.0% | Sold out |
| Susquehanna International Group, LLP | 0 | $0 | 0.00% | −2,321−100.0% | Sold out |
| Caxton Associates LLP | 0 | $0 | 0.00% | −2,126−100.0% | Sold out |
| Susquehanna Portfolio Strategies, LLC | 0 | $0 | 0.00% | −1,647−100.0% | Sold out |
| Saber Capital Managment, LLC | 0 | $0 | 0.00% | −1,215−100.0% | Sold out |
| Inceptionr LLC | 0 | $0 | 0.00% | −1,061−100.0% | Sold out |
| Quest Partners LLC | 0 | $0 | 0.00% | −961−100.0% | Sold out |
| Balyasny Asset Management LLC | 0 | $0 | 0.00% | −774−100.0% | Sold out |
| Schonfeld Strategic Advisors LLC | 0 | $0 | 0.00% | −684−100.0% | Sold out |
| Squarepoint Ops LLC | 0 | $0 | 0.00% | −643−100.0% | Sold out |
| Amalgamated Bank | 0 | $0 | 0.00% | −21−100.0% | Sold out |
| American Capital Advisory, LLC | 0 | $0 | 0.00% | −3−100.0% | Sold out |
| Vanguard Group Inc | – | – | – | – | Not filed |
| Comerica Bank | – | – | – | – | Not filed |
| Global Retirement Partners, LLC | – | – | – | – | Not filed |
| CIBC Private Wealth Group, LLC | – | – | – | – | Not filed |