Biglari (BH)
Owns Steak n Shake, insurers, oil and gas assets, Maxim, and investment partnerships.
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13F · 13D/G · Form 4
| Institutions | ≥ 86.15% | 2.00M shares | |
|---|---|---|---|
| 117 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Other | ≤ 13.85% | 322.2K shares | |
| remainder | |||
2.33M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (2.33M in the company's Sep 23, 2026 report, 3.14M elsewhere); stakes use the report.
Institutional filings for BH-A (9% of the company) are not on file here, so the institutional figure is a floor.
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
This company has 2 share classes; every stake here is a share of the whole company.
13F, as of Jun 30, 2026
117 holders · 2.00M shares · 27 new positions · 61 increased · 29 reduced · 26 closed
| Holder | Shares | % of company | Chg q/q | Filed |
|---|---|---|---|---|
| Biglari Capital Corp. | 1.47M | 63.28% | +55.0K | Aug 14, 2026 |
| Dimensional Fund Advisors LP | 106.3K | 4.57% | +4.0K | Aug 11, 2026 |
| Two Sigma Investments, LP | 50.6K | 2.18% | +42.0K | Aug 14, 2026 |
| BlackRock, Inc. | 46.1K | 1.98% | +1.1K | Aug 7, 2026 |
| Marshall Wace, LLP | 31.0K | 1.33% | −1.2K | Aug 13, 2026 |
| Renaissance Technologies LLC | 28.6K | 1.23% | +6.9K | Aug 13, 2026 |
| Vanguard Capital Management LLC | 28.2K | 1.21% | −1.6K | Aug 13, 2026 |
| Millennium Management LLC | 26.8K | 1.15% | +9.4K | Aug 14, 2026 |
13D/G · 5% or more, as filed
No 13D/G filer at 5% or more on record.
Form 4
Latest trades
| Date | Insider | Type | Shares | Avg price | Owned after |
|---|---|---|---|---|---|
| Jun 4, 2026 | Sardar Biglaridirector, 10 percent owner, officer: Chairman and CEO | Purchase | 1,743 | $286.76 | 1,399,847 |
| Jun 5, 2026 | Sardar Biglaridirector, 10 percent owner, officer: Chairman and CEO | Purchase | 535 | $297.14 | 1,400,382 |
| May 12, 2026 | Sardar Biglaridirector, 10 percent owner, officer: Chairman and CEO | Purchase | 22,965 | $249.84 | 1,368,395 |
| May 13, 2026 | Sardar Biglaridirector, 10 percent owner, officer: Chairman and CEO | Purchase | 15,358 | $260.36 | 1,383,753 |
| May 14, 2026 | Sardar Biglaridirector, 10 percent owner, officer: Chairman and CEO | Purchase | 14,351 | $258.06 | 1,398,104 |
| Mar 13, 2026 | Sardar Biglaridirector, 10 percent owner, officer: Chairman and CEO | Purchase | 2,810 | $302.20 | 1,345,430 |
| Mar 9, 2026 | Sardar Biglaridirector, 10 percent owner, officer: Chairman and CEO | Purchase | 3,320 | $301.06 | 1,342,620 |
| Mar 6, 2026 | Sardar Biglaridirector, 10 percent owner, officer: Chairman and CEO | Purchase | 2,441 | $307.20 | 1,339,300 |
| Mar 3, 2026 | Sardar Biglaridirector, 10 percent owner, officer: Chairman and CEO | Purchase | 1,146 | $331.15 | 1,336,859 |
| Dec 17, 2025 | Sardar Biglaridirector, 10 percent owner, officer: Chairman and CEO | Purchase · 2 lots | 3,452 | $463.34 | 1,464,525 |
House and Senate disclosures
Not reported.