BH Biglari Holdings, Inc.
Biglari Holdings, Inc. (BH) Institutional Ownership
What the institutions did with BH last quarter, from their 13F filings. Counting managers rather than shares is the point: a single index fund adding to a position tells you far less than four hundred separate managers all deciding to. Positions as reported for the quarter ended June 30, 2026.
Every manager below opens. Subscribers can see any firm's whole portfolio — every position, its weight, and what they bought, trimmed and exited last quarter.
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Each block is one manager, sized by shares held and colored by how much they moved the position last quarter. Green added, red cut, grey stood pat.
Largest holders
| Manager | Shares | % of reported |
|---|---|---|
| BIGLARI CAPITAL CORP. | 1.5M | 73.7% |
| DIMENSIONAL FUND ADVISORS LP | 106.3K | 5.3% |
| TWO SIGMA INVESTMENTS, LP | 50.6K | 2.5% |
| BlackRock, Inc. | 46.1K | 2.3% |
| MARSHALL WACE, LLP | 31.0K | 1.6% |
| RENAISSANCE TECHNOLOGIES LLC | 28.6K | 1.4% |
| VANGUARD CAPITAL MANAGEMENT LLC | 28.2K | 1.4% |
| MILLENNIUM MANAGEMENT LLC | 26.8K | 1.3% |
| GEODE CAPITAL MANAGEMENT, LLC | 14.9K | 0.7% |
| Trexquant Investment LP | 14.6K | 0.7% |
| STATE STREET CORP | 12.8K | 0.6% |
| Connor, Clark & Lunn Investment Management Ltd. | 12.3K | 0.6% |
| AQR CAPITAL MANAGEMENT LLC | 9.5K | 0.5% |
| Qube Research & Technologies Ltd | 8.8K | 0.4% |
| JPMORGAN CHASE & CO | 7.9K | 0.4% |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 7.7K | 0.4% |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 7.3K | 0.4% |
| NORTHERN TRUST CORP | 7.2K | 0.4% |
| HRT FINANCIAL LP | 6.5K | 0.3% |
| JANE STREET GROUP, LLC | 6.1K | 0.3% |
| Pacer Advisors, Inc. | 5.8K | 0.3% |
| Nuveen, LLC | 5.0K | 0.3% |
| XTX Topco Ltd | 4.5K | 0.2% |
| VANGUARD FIDUCIARY TRUST CO | 4.3K | 0.2% |
| Point72 Asset Management, L.P. | 4.2K | 0.2% |
Largest changes
| Manager | Action | Previous | Current | Change |
|---|---|---|---|---|
| Swiss Life Asset Management Ltd | Sold Out | 66.1K | 0 | -66.1K |
| BIGLARI CAPITAL CORP. | Increased | 1.4M | 1.5M | +55.0K |
| TWO SIGMA INVESTMENTS, LP | Increased | 8.6K | 50.6K | +42.0K |
| Invesco Ltd. | Reduced | 19.9K | 1.8K | -18.1K |
| Qube Research & Technologies Ltd | Reduced | 22.4K | 8.8K | -13.6K |
| JANE STREET GROUP, LLC | Reduced | 17.4K | 6.1K | -11.3K |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Sold Out | 10.4K | 0 | -10.4K |
| TUDOR INVESTMENT CORP ET AL | Sold Out | 9.7K | 0 | -9.7K |
| MILLENNIUM MANAGEMENT LLC | Increased | 17.3K | 26.8K | +9.4K |
| GOLDMAN SACHS GROUP INC | Sold Out | 9.4K | 0 | -9.4K |
| Trexquant Investment LP | Reduced | 21.7K | 14.6K | -7.2K |
| RENAISSANCE TECHNOLOGIES LLC | Increased | 21.7K | 28.6K | +6.9K |
| HRT FINANCIAL LP | New | 0 | 6.5K | +6.5K |
| XTX Topco Ltd | Reduced | 10.6K | 4.5K | -6.1K |
| Quadrature Capital Ltd | Sold Out | 5.1K | 0 | -5.1K |
| D. E. Shaw & Co., Inc. | Reduced | 5.6K | 1.0K | -4.6K |
| JPMORGAN CHASE & CO | Reduced | 12.3K | 7.9K | -4.5K |
| DARK FOREST CAPITAL MANAGEMENT LP | Sold Out | 4.3K | 0 | -4.3K |
| DIMENSIONAL FUND ADVISORS LP | Increased | 102.2K | 106.3K | +4.0K |
| AQR CAPITAL MANAGEMENT LLC | Increased | 5.9K | 9.5K | +3.6K |
| Logan Stone Capital, LLC | Sold Out | 3.1K | 0 | -3.1K |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | 0 | 3.0K | +3.0K |
| CITADEL ADVISORS LLC | New | 0 | 3.0K | +3.0K |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | 3.0K | 13 | -3.0K |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Sold Out | 2.7K | 0 | -2.7K |
| EntryPoint Capital, LLC | Sold Out | 2.4K | 0 | -2.4K |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | Reduced | 5.0K | 2.6K | -2.4K |
| Engineers Gate Manager LP | New | 0 | 1.9K | +1.9K |
| Shay Capital LLC | Sold Out | 1.9K | 0 | -1.9K |
| GSA CAPITAL PARTNERS LLP | Increased | 2.1K | 3.9K | +1.7K |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC | Reduced | 4.1K | 2.4K | -1.7K |
| Rathbones Group PLC | Reduced | 3.4K | 1.7K | -1.7K |
| Jump Financial, LLC | New | 0 | 1.6K | +1.6K |
| Centiva Capital, LP | New | 0 | 1.6K | +1.6K |
| VANGUARD CAPITAL MANAGEMENT LLC | Reduced | 29.8K | 28.2K | -1.6K |
| Lotus Technology Management, LP | New | 0 | 1.5K | +1.5K |
| Freestone Grove Partners LP | Sold Out | 1.5K | 0 | -1.5K |
| STATE OF WISCONSIN INVESTMENT BOARD | New | 0 | 1.5K | +1.5K |
| Swiss National Bank | Sold Out | 1.4K | 0 | -1.4K |
| Huntleigh Advisors, Inc. | Sold Out | 1.4K | 0 | -1.4K |
| SG Americas Securities, LLC | Reduced | 1.5K | 306 | -1.2K |
| MARSHALL WACE, LLP | Reduced | 32.2K | 31.0K | -1.2K |
| STATE STREET CORP | Reduced | 13.9K | 12.8K | -1.1K |
| BlackRock, Inc. | Increased | 45.0K | 46.1K | +1.1K |
| GEODE CAPITAL MANAGEMENT, LLC | Increased | 13.8K | 14.9K | +1.1K |
| INCEPTIONR LLC | New | 0 | 1.0K | +1.0K |
| Point72 Asset Management, L.P. | Reduced | 5.2K | 4.2K | -1.0K |
| ALLIANCEBERNSTEIN L.P. | Increased | 931 | 1.9K | +1.0K |
| Polymer Capital Management (US) LLC | Sold Out | 988 | 0 | -988 |
| Connor, Clark & Lunn Investment Management Ltd. | Increased | 11.3K | 12.3K | +970 |
| CHECK CAPITAL MANAGEMENT INC/CA | Increased | 967 | 1.9K | +967 |
| Dynamic Technology Lab Private Ltd | New | 0 | 921 | +921 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | Increased | 6.8K | 7.7K | +864 |
| Susquehanna Portfolio Strategies, LLC | New | 0 | 853 | +853 |
| CenterBook Partners LP | Sold Out | 853 | 0 | -853 |
| RITHOLTZ WEALTH MANAGEMENT | Reduced | 2.5K | 1.7K | -839 |
| Brevan Howard Capital Management LP | Sold Out | 795 | 0 | -795 |
| Nuveen, LLC | Increased | 4.2K | 5.0K | +794 |
| BANK OF AMERICA CORP /DE/ | Increased | 1.3K | 2.0K | +752 |
| Squarepoint Ops LLC | New | 0 | 663 | +663 |
13F filings are due 45 days after quarter end and cover long positions in U.S.-listed equities only, so this is a lagged and partial picture: shorts, bonds and foreign listings never appear. Options positions are excluded here rather than folded into the share counts. Political ownership is coming.