Also trades as: BH (NYSE) · $vol 51M
BH-A Institutional Ownership
Biglari Holdings Inc.
1W: -12.6%
1M: +9.7%
3M: -1.9%
YTD: +3.0%
1Y: +3.7%
3Y: +129.2%
5Y: +141.4%
$1,868.42
-16.22 (-0.86%)
Weekly Expected Move ±6.8%
$1649
$1779
$1909
$2039
$2170
Credit Risk of going bust: higher than 56% of companies Debt: 19.1% of company value Bonds: none of note held by US funds details ▾
Of US companies ranked in the middle of the pack, about 1 in 580 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $42.72 (down 98%), Biglari Holdings Inc. would be worth roughly what it owes.
Total debt $289.3M against a stock market value of $1.23B.
Distance to default 4.60 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $133.4M (short-term plus half of long-term), stock volatility 53.9%; Altman Z'' 4.29. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.
If the stock fell to about $42.72 (down 98%), Biglari Holdings Inc. would be worth roughly what it owes.
Total debt $289.3M against a stock market value of $1.23B.
Distance to default 4.60 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $133.4M (short-term plus half of long-term), stock volatility 53.9%; Altman Z'' 4.29. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.
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Institutional Ownership — BH-A
72
Institutional Holders
+25 vs prior quarter
0.0%
Ownership
+0.00pp
$450M
Total Invested
30
New Positions
14
Increased
22
Reduced
14
Closed
0.00
Put/Call Ratio
Ownership Trends
Top Institutional Holders (75 total)
| # | Holder | Shares | Value | Change | Change % | Holding Period | Filing |
|---|---|---|---|---|---|---|---|
| 1 | BIGLARI CAPITAL CORP. | 154,474 | $289M | — | +0.0% | 33Q | SEC ↗ |
| 2 | GAMCO INVESTORS, INC. ET AL | 11,038 | $21M | -191 | -1.7% | 16Q | SEC ↗ |
| 3 | RENAISSANCE TECHNOLOGIES LLC | 6,065 | $11M | +305 | +5.3% | 14Q | SEC ↗ |
| 4 | DIMENSIONAL FUND ADVISORS LP | 5,753 | $11M | -40 | -0.7% | 33Q | SEC ↗ |
| 5 | BlackRock, Inc. | 5,414 | $10M | +2,724 | +101.3% | 8Q | SEC ↗ |
| 6 | JANE STREET GROUP, LLC NEW | 5,048 | $9M | — | +0.0% | 1Q | SEC ↗ |
| 7 | FIRST TRUST ADVISORS LP NEW | 4,481 | $8M | — | +0.0% | 1Q | SEC ↗ |
| 8 | UBS Group AG | 3,296 | $6M | +2,692 | +445.7% | 12Q | SEC ↗ |
| 9 | VICTORY CAPITAL MANAGEMENT INC | 2,745 | $5M | +768 | +38.8% | 2Q | SEC ↗ |
| 10 | VANGUARD CAPITAL MANAGEMENT LLC | 2,437 | $5M | +310 | +14.6% | 2Q | SEC ↗ |
| 11 | MARSHALL WACE, LLP | 2,236 | $4M | -122 | -5.2% | 4Q | SEC ↗ |
| 12 | GEODE CAPITAL MANAGEMENT, LLC | 1,889 | $4M | +827 | +77.9% | 33Q | SEC ↗ |
| 13 | GABELLI FUNDS LLC | 1,560 | $3M | — | +0.0% | 33Q | SEC ↗ |
| 14 | DARK FOREST CAPITAL MANAGEMENT LP NEW | 1,067 | $2M | — | +0.0% | 1Q | SEC ↗ |
| 15 | XTX Topco Ltd | 969 | $2M | +34 | +3.6% | 2Q | SEC ↗ |
| 16 | STATE STREET CORP | 875 | $2M | +315 | +56.2% | 14Q | SEC ↗ |
| 17 | NORTHERN TRUST CORP | 446 | $833K | +305 | +216.3% | 3Q | SEC ↗ |
| 18 | STRS OHIO NEW | 400 | $747K | — | +0.0% | 1Q | SEC ↗ |
| 19 | Balyasny Asset Management L.P. | 395 | $738K | -463 | -54.0% | 3Q | SEC ↗ |
| 20 | VANGUARD FIDUCIARY TRUST CO | 373 | $697K | +71 | +23.5% | 2Q | SEC ↗ |
| 21 | VANGUARD PORTFOLIO MANAGEMENT LLC NEW | 362 | $676K | — | +0.0% | 1Q | SEC ↗ |
| 22 | Bank of New York Mellon Corp NEW | 229 | $428K | — | +0.0% | 1Q | SEC ↗ |
| 23 | GOLDMAN SACHS GROUP INC | 223 | $417K | -104 | -31.8% | 7Q | SEC ↗ |
| 24 | MORGAN STANLEY | 205 | $383K | -18 | -8.1% | 33Q | SEC ↗ |
| 25 | ALLIANCEBERNSTEIN L.P. NEW | 200 | $374K | — | +0.0% | 1Q | SEC ↗ |
| 26 | Nuveen, LLC NEW | 193 | $361K | — | +0.0% | 1Q | SEC ↗ |
| 27 | Brevan Howard Capital Management LP NEW | 170 | $318K | — | +0.0% | 1Q | SEC ↗ |
| 28 | EntryPoint Capital, LLC NEW | 166 | $310K | — | +0.0% | 1Q | SEC ↗ |
| 29 | Blueshift Asset Management, LLC NEW | 125 | $234K | — | +0.0% | 1Q | SEC ↗ |
| 30 | SUSQUEHANNA INTERNATIONAL GROUP, LLP NEW | 122 | $228K | — | +0.0% | 1Q | SEC ↗ |
| 31 | SEI INVESTMENTS CO NEW | 115 | $215K | — | +0.0% | 1Q | SEC ↗ |
| 32 | Shay Capital LLC NEW | 108 | $202K | — | +0.0% | 1Q | SEC ↗ |
| 33 | Virtu Financial LLC NEW | 103 | $192K | — | +0.0% | 1Q | SEC ↗ |
| 34 | NEW YORK STATE COMMON RETIREMENT FUND NEW | 100 | $187K | — | +0.0% | 1Q | SEC ↗ |
| 35 | FMR LLC | 95 | $177K | +2 | +2.2% | 4Q | SEC ↗ |
| 36 | Quantbot Technologies LP | 82 | $153K | -181 | -68.8% | 4Q | SEC ↗ |
| 37 | RHUMBLINE ADVISERS NEW | 75 | $140K | — | +0.0% | 1Q | SEC ↗ |
| 38 | Vanguard Global Advisers, LLC | 65 | $121K | — | +0.0% | 2Q | SEC ↗ |
| 39 | DEUTSCHE BANK AG NEW | 54 | $101K | — | +0.0% | 1Q | SEC ↗ |
| 40 | WELLS FARGO & COMPANY/MN NEW | 45 | $84K | — | +0.0% | 1Q | SEC ↗ |
| 41 | CITIGROUP INC | 32 | $60K | +28 | +700.0% | 5Q | SEC ↗ |
| 42 | MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. NEW | 26 | $49K | — | +0.0% | 1Q | SEC ↗ |
| 43 | Police & Firemen's Retirement System o NEW | 25 | $47K | — | +0.0% | 1Q | SEC ↗ |
| 44 | JPMORGAN CHASE & CO NEW | 23 | $43K | — | +0.0% | 1Q | SEC ↗ |
| 45 | BARCLAYS PLC NEW | 16 | $30K | — | +0.0% | 1Q | SEC ↗ |
| 46 | BNP PARIBAS FINANCIAL MARKETS NEW | 16 | $30K | — | +0.0% | 1Q | SEC ↗ |
| 47 | FIFTH THIRD BANCORP | 7 | $13K | — | +0.0% | 2Q | SEC ↗ |
| 48 | ROYAL BANK OF CANADA | 6 | $11K | +2 | +50.0% | 25Q | SEC ↗ |
| 49 | O'SHAUGHNESSY ASSET MANAGEMENT, LLC | 6 | $11K | — | +0.0% | 2Q | SEC ↗ |
| 50 | Ameritas Investment Partners, Inc. NEW | 5 | $9K | — | +0.0% | 1Q | SEC ↗ |
Recent Activity
New Positions (20)
| Holder | Shares | Value |
|---|---|---|
| JANE STREET GROUP, LLC | 5,048 | $9M |
| FIRST TRUST ADVISORS LP | 4,481 | $8M |
| DARK FOREST CAPITAL MANAGEMENT LP | 1,067 | $2M |
| STRS OHIO | 400 | $747K |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 362 | $676K |
| Bank of New York Mellon Corp | 229 | $428K |
| ALLIANCEBERNSTEIN L.P. | 200 | $374K |
| Nuveen, LLC | 193 | $361K |
| Brevan Howard Capital Management LP | 170 | $318K |
| EntryPoint Capital, LLC | 166 | $310K |
| Blueshift Asset Management, LLC | 125 | $234K |
| SUSQUEHANNA INTERNATIONAL GROUP, LL | 122 | $228K |
| SEI INVESTMENTS CO | 115 | $215K |
| Shay Capital LLC | 108 | $202K |
| Virtu Financial LLC | 103 | $192K |
| NEW YORK STATE COMMON RETIREMENT FU | 100 | $187K |
| RHUMBLINE ADVISERS | 75 | $140K |
| DEUTSCHE BANK AG | 54 | $101K |
| WELLS FARGO & COMPANY/MN | 45 | $84K |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Lt | 26 | $49K |
Sold Out (17)
| Holder | Prev Shares | Prev Value |
|---|---|---|
| Trexquant Investment LP | 2,347 | $4M |
| ARROWSTREET CAPITAL, LIMITED PARTNE | 1,370 | $3M |
| MILLENNIUM MANAGEMENT LLC | 1,160 | $2M |
| Aquatic Capital Management LLC | 822 | $2M |
| HRT FINANCIAL LP | 532 | $994K |
| CITADEL ADVISORS LLC | 508 | $949K |
| OMERS ADMINISTRATION Corp | 500 | $934K |
| Point72 Asset Management, L.P. | 471 | $880K |
| Engineers Gate Manager LP | 198 | $370K |
| Quadrature Capital Ltd | 186 | $348K |
| Qube Research & Technologies Ltd | 163 | $305K |
| INCEPTIONR LLC | 135 | $252K |
| Man Group plc | 128 | $239K |
| Marex Group plc | 119 | $222K |
| Caitong International Asset Managem | 82 | $153K |
| BANK OF AMERICA CORP /DE | 18 | $34K |
| Parallel Advisors, LLC | 3 | $6K |
Biggest Increases (14)
| Holder | Added | Change % | Total Shares |
|---|---|---|---|
| BlackRock, Inc. | +2,724 | +101.3% | 5,414 |
| UBS Group AG | +2,692 | +445.7% | 3,296 |
| GEODE CAPITAL MANAGEMENT, LLC | +827 | +77.9% | 1,889 |
| VICTORY CAPITAL MANAGEMENT INC | +768 | +38.8% | 2,745 |
| STATE STREET CORP | +315 | +56.2% | 875 |
| VANGUARD CAPITAL MANAGEMENT LLC | +310 | +14.6% | 2,437 |
| RENAISSANCE TECHNOLOGIES LLC | +305 | +5.3% | 6,065 |
| NORTHERN TRUST CORP | +305 | +216.3% | 446 |
| VANGUARD FIDUCIARY TRUST CO | +71 | +23.5% | 373 |
| XTX Topco Ltd | +34 | +3.6% | 969 |
| CITIGROUP INC | +28 | +700.0% | 32 |
| FMR LLC | +2 | +2.2% | 95 |
| ROYAL BANK OF CANADA | +2 | +50.0% | 6 |
| Sterling Capital Management LLC | +1 | +100.0% | 2 |
Biggest Decreases (8)
| Holder | Reduced | Change % | Total Shares |
|---|---|---|---|
| Balyasny Asset Management L.P. | -463 | -54.0% | 395 |
| GAMCO INVESTORS, INC. ET AL | -191 | -1.7% | 11,038 |
| Quantbot Technologies LP | -181 | -68.8% | 82 |
| MARSHALL WACE, LLP | -122 | -5.2% | 2,236 |
| GOLDMAN SACHS GROUP INC | -104 | -31.8% | 223 |
| DIMENSIONAL FUND ADVISORS LP | -40 | -0.7% | 5,753 |
| Tower Research Capital LLC (TRC) | -36 | -94.7% | 2 |
| MORGAN STANLEY | -18 | -8.1% | 205 |