Biglari Holdings Inc. Class BBH
13F holders, Q4 2025 (December 31)106holders +9
20new positions
10sold out
5famous investors
$332.48avg. 13F price*
At the end of Q4 2025, 106 institutions reported holding Biglari Holdings Inc. Class B (BH) in their 13F filings, up 9 from Q3 2025. 20 opened new positions and 10 sold out. The largest holders were Biglari Capital Corp. ($467.9M), Dimensional Fund Advisors LP ($34.0M) and BlackRock, Inc. ($16.6M). 5 famous investors held it, including Steve Cohen (0.0% of Point72 Asset Management's portfolio), Jim Simons / Peter Brown (0.0% of Renaissance Technologies's portfolio) and Israel Englander (0.0% of Millennium Management's portfolio).
- Company
- Biglari Holdings Inc. Class B
- CUSIP
- 08986R309
- Latest filing quarter
- Q2 2026
History
Number of 13F holders
Total Exit/New Position Q3 2025 → Q4 2025
| Institutions | Total Value | |
|---|---|---|
| New Positions | 20 | $15.0M |
| Exits | 10 | $2.2M |
All 13F filers, Q3 2025 → Q4 2025: 110,494 shares bought and 69,511 shares sold, net +40,983 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.
Ownership 106 holders
| Biglari Capital Corp. | 50.17% | Add +0.9% | 1,407,568 | $467.9M |
| Dimensional Fund Advisors LP | 0.01% | Add +1.4% | 102,190 | $34.0M |
| BlackRock, Inc. | 0.00% | Reduce -7.5% | 49,843 | $16.6M |
| Vanguard Group Inc. | 0.00% | Add +4.8% | 39,931 | $13.3M |
| Arrowstreet Capital, Limited Partnership | 0.00% | Add +71.3% | 25,048 | $8.3M |
| Invesco Ltd. | 0.00% | Reduce -40.6% | 24,013 | $8.0M |
| Qube Research & Technologies Ltd | 0.01% | Add +323.8% | 20,391 | $6.8M |
| Bridgeway Capital Management, LLC | 0.12% | Add +4.3% | 17,676 | $5.9M |
| JPMorgan Chase & Co. | 0.00% | Reduce -50.8% | 16,067 | $5.3M |
| Geode Capital Management, LLC | 0.00% | Add +1.5% | 14,632 | $4.9M |
| State Street Corp. | 0.00% | Reduce -16.9% | 13,164 | $4.4M |
| Peapod Lane Capital LLC | 3.51% | Add +0.7% | 12,399 | $4.1M |
| Empowered Funds, LLC | 0.07% | Add +8.0% | 11,607 | $3.9M |
| Connor, Clark & Lunn Investment Management Ltd. | 0.01% | Reduce -0.1% | 11,022 | $3.7M |
| Renaissance Technologies | 0.01% | Reduce -28.7% | 10,970 | $3.6M |
| Point72 Asset Management | 0.01% | Add +631.2% | 10,690 | $3.6M |
| Millennium Management | 0.00% | New | 10,548 | $3.5M |
| Goldman Sachs Group Inc. | 0.00% | Add +121.8% | 9,173 | $3.0M |
| Citadel Advisors | 0.00% | New | 8,671 | $2.9M |
| Trexquant Investment LP | 0.02% | New | 7,953 | $2.6M |
| Two Sigma Investments, LP | 0.00% | Reduce -33.8% | 7,654 | $2.5M |
| Charles Schwab Investment Management Inc. | 0.00% | Reduce -2.5% | 7,027 | $2.3M |
| Northern Trust Corp. | 0.00% | Reduce -7.3% | 6,609 | $2.2M |
| Pacer Advisors, Inc. | 0.01% | Reduce -5.7% | 6,099 | $2.0M |
| Morgan Stanley | 0.00% | Reduce -58.8% | 6,001 | $2.0M |
| AQR Capital Management | 0.00% | Add +84.4% | 5,862 | $1.9M |
| O'shaughnessy Asset Management, LLC | 0.01% | Reduce -14.1% | 5,245 | $1.7M |
| UBS Group AG | 0.00% | Reduce -1.7% | 3,922 | $1.3M |
| Ritholtz Wealth Management | 0.02% | Reduce -4.4% | 3,497 | $1.2M |
| Nuveen, LLC | 0.00% | Reduce -8.2% | 3,374 | $1.1M |
| Los Angeles Capital Management LLC | 0.00% | Reduce -0.6% | 2,532 | $917K |
| Occudo Quantitative Strategies LP | 0.05% | Add +135.5% | 2,381 | $792K |
| State of Wisconsin Investment Board | 0.00% | Add +49.0% | 2,366 | $787K |
| Susquehanna International Group, LLP | 0.00% | New | 2,321 | $772K |
| Rathbones Group PLC | 0.00% | No change | 2,300 | $765K |
| Caxton Associates LLP | 0.01% | New | 2,126 | $707K |
| LPL Financial LLC | 0.00% | Add +7.2% | 2,052 | $682K |
| STRS Ohio | 0.00% | No change | 1,800 | $598K |
| Bank of New York Mellon Corp | 0.00% | Reduce -7.5% | 1,784 | $593K |
| Susquehanna Portfolio Strategies, LLC | 0.01% | New | 1,647 | $548K |
| Logan Stone Capital, LLC | 0.13% | New | 1,620 | $539K |
| Quadrature Capital Ltd | 0.01% | New | 1,593 | $530K |
| Alliancebernstein L.P. | 0.00% | No change | 1,501 | $499K |
| HSBC Holdings PLC | 0.00% | New | 1,501 | $498K |
| Jacobs Levy Equity Management, Inc. | 0.00% | No change | 1,451 | $482K |
| Barclays PLC | 0.00% | Reduce -35.6% | 1,385 | $460K |
| Gsa Capital Partners LLP | 0.04% | Reduce -41.6% | 1,342 | $446K |
| Brooklyn Investment Group | 0.02% | New | 1,180 | $414K |
| Saber Capital Managment, LLC | 0.34% | — | 1,215 | $404K |
| Polymer Capital Management (US) LLC | 0.05% | New | 1,171 | $389K |
| Citigroup Inc. | 0.00% | Add +9.2% | 1,161 | $386K |
| American Century Companies Inc. | 0.00% | No change | 1,116 | $371K |
| Martingale Asset Management L P | 0.01% | Reduce -48.8% | 1,101 | $366K |
| Inceptionr LLC | 0.10% | New | 1,061 | $353K |
| AlphaQuest LLC | 0.02% | Add +922.3% | 961 | $319K |
| Rhumbline Advisers | 0.00% | Reduce -16.8% | 850 | $283K |
| Wells Fargo & Company | 0.00% | Add +9.5% | 785 | $261K |
| Balyasny Asset Management L.P. | 0.00% | Reduce -0.9% | 774 | $257K |
| Shay Capital LLC | 0.04% | New | 750 | $249K |
| EntryPoint Capital, LLC | 0.10% | New | 741 | $246K |
| Bank of America Corp. | 0.00% | Add +52.4% | 730 | $243K |
| Marshall Wace, LLP | 0.00% | New | 704 | $234K |
| Schonfeld Strategic Advisors LLC | 0.00% | New | 684 | $227K |
| Squarepoint Ops LLC | 0.00% | New | 643 | $214K |
| Bartlett & Co. Wealth Management LLC | 0.00% | No change | 503 | $167K |
| MetLife Investment Management, LLC | 0.00% | Reduce -3.9% | 441 | $147K |
| New York State Common Retirement Fund | 0.00% | Reduce -19.0% | 426 | $142K |
| Deutsche Bank AG | 0.00% | Add +15.1% | 419 | $139K |
| FMR LLC | 0.00% | Add +91.5% | 362 | $120K |
| State of Alaska, Department of Revenue | 0.00% | Add +120.6% | 353 | $117K |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 0.00% | Add +3.8% | 325 | $108K |
| Public Employees Retirement Association of Colorado | 0.00% | No change | 320 | $106K |
| Caitong International Asset Management Co., Ltd | 0.02% | Add +392.9% | 207 | $69K |
| Police & Firemen's Retirement System of New Jersey | 0.00% | No change | 171 | $57K |
| BNP Paribas Financial Markets | 0.00% | Add +14.5% | 158 | $53K |
| Cwm, LLC | 0.00% | Add +45.4% | 141 | $47K |
| Royal Bank of Canada | 0.00% | Add +115.2% | 142 | $47K |
| Jones Financial Companies LLLP | 0.00% | Add +2.3% | 91 | $30K |
| Russell Investments Group, Ltd. | 0.00% | Reduce -5.9% | 80 | $27K |
| Comerica Bank | 0.00% | No change | 70 | $23K |
| Legal & General Group Plc | 0.00% | No change | 65 | $22K |
| Farther Finance Advisors, LLC | 0.00% | New | 59 | $20K |
| Ameritas Investment Partners, Inc. | 0.00% | Reduce -30.0% | 56 | $19K |
| Larson Financial Group LLC | 0.00% | No change | 50 | $17K |
| Sterling Capital Management LLC | 0.00% | Reduce -14.0% | 49 | $16K |
| Tower Research Capital LLC (TRC) | 0.00% | Reduce -28.6% | 45 | $15K |
| California State Teachers Retirement System | 0.00% | Reduce -20.8% | 42 | $14K |
| Hoey Investments, Inc. | 0.00% | No change | 39 | $13K |
| North Star Investment Management Corp. | 0.00% | No change | 26 | $9K |
| Optiver Holding B.V. | 0.00% | Add +83.3% | 22 | $7K |
| Amalgamated Bank | 0.00% | Reduce -16.0% | 21 | $7K |
| Global Retirement Partners, LLC | 0.00% | No change | 19 | $6K |
| Rockefeller Capital Management L.P. | 0.00% | New | 17 | $6K |
| Caitlin John, LLC | 0.00% | No change | 15 | $5K |
| Osaic Holdings, Inc. | 0.00% | Reduce -96.9% | 14 | $5K |
| EverSource Wealth Advisors, LLC | 0.00% | Add +22.2% | 11 | $4K |
| GAMMA Investing LLC | 0.00% | No change | 8 | $3K |
| Country Trust Bank | 0.00% | No change | 5 | $2K |
| CIBC Private Wealth Group LLC | 0.00% | No change | 4 | $1K |
| IFP Advisors, Inc | 0.00% | Add +300.0% | 4 | $1K |
"% of holder's portfolio" is BH's weight in each manager's 13F, not the share of Biglari Holdings Inc. Class B the manager owns.