Biglari Holdings Inc.
US ˙ NYSE ˙ US08986R3093

SecurityBH / Biglari Holdings Inc.
InstitutionState Street Corp
Latest Disclosed Ownership13,943 shares
Latest Disclosed Value $ 4,595,473
State Street Corp reports 5.92% increase in ownership of BH / Biglari Holdings Inc.

On May 15, 2026 - State Street Corp filed a 13F-HR form disclosing ownership of 13,943 shares of Biglari Holdings Inc. (US:BH) valued at $4,595,473 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 13,164 shares of Biglari Holdings Inc.. This represents a change in shares of 5.92% during the quarter. The current value of the position is $4,129,917 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

Upgrade to unlock premium data and export to Excel .

Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F BIGLARI HLDGS COM STK CL B 08986R309 13,943 779 5.92 4,595 5.00 0.0002
2026-02-13 2025-12-31 13F BIGLARI HLDGS COM STK CL B 08986R309 13,164 -2,686 -16.95 4,376 -14.68 0.0001
2025-11-14 2025-09-30 13F BIGLARI HLDGS COM STK CL B 08986R309 15,850 313 2.01 5,130 12.97 0.0002
2025-08-14 2025-06-30 13F BIGLARI HLDGS COM STK CL B 08986R309 15,537 2,392 18.20 4,540 59.52 0.0002
2025-05-15 2025-03-31 13F BIGLARI HLDGS COM STK CL B 08986R309 13,145 140 1.08 2,846 -13.94 0.0001
2025-02-14 2024-12-31 13F BIGLARI HLDGS COM STK CL B 08986R309 13,005 186 1.45 3,307 50.05 0.0001
2024-11-14 2024-09-30 13F BIGLARI HLDGS COM STK CL B 08986R309 12,819 64 0.50 2,205 -10.62 0.0001
2024-08-14 2024-06-30 13F BIGLARI HLDGS COM STK CL B 08986R309 12,755 130 1.03 2,467 3.01 0.0001
2024-05-15 2024-03-31 13F BIGLARI HLDGS COM STK CL B 08986R309 12,625 100 0.80 2,395 15.93 0.0001
2024-02-14 2023-12-31 13F BIGLARI HLDGS COM STK CL B 08986R309 12,525 78 0.63 2,066 -0.05 0.0001
2023-11-14 2023-09-30 13F BIGLARI HLDGS COM STK CL B 08986R309 12,447 -579 -4.44 2,066 -19.52 0.0001
2023-08-14 2023-06-30 13F BIGLARI HLDGS COM STK CL B 08986R309 13,026 -496 -3.67 2,568 12.24 0.0001
2023-05-15 2023-03-31 13F BIGLARI HLDGS COM STK CL B 08986R309 13,522 227 1.71 2,288 23.96 0.0001
2023-05-15 2022-12-31 13F/A-99 BIGLARI HLDGS COM STK CL B 08986R309 13,295 -254 -1.87 1,845 17.82 0.0001
2023-05-15 2022-12-31 13F BIGLARI HLDGS COM STK CL B 08986R309 13,295 -254 1,845 0.0001
2022-11-15 2022-09-30 13F BIGLARI HLDGS COM STK CL B 08986R309 13,549 259 1.95 1,566 -3.99 0.0001
2022-08-15 2022-06-30 13F BIGLARI HLDGS COM STK CL B 08986R309 13,290 -898 -6.33 1,631 -20.52 0.0001
2022-05-16 2022-03-31 13F BIGLARI HLDGS COM STK CL B 08986R309 14,188 -482 -3.29 2,052 -1.91 0.0001
2022-02-14 2021-12-31 13F BIGLARI HLDGS COM STK CL B 08986R309 14,670 -1,026 -6.54 2,092 -22.43 0.0001
2021-11-15 2021-09-30 13F BIGLARI HLDGS COM STK CL B 08986R309 15,696 -780 -4.73 2,697 2.66 0.0001
2021-08-16 2021-06-30 13F BIGLARI HLDGS COM STK CL B 08986R309 16,476 -93 -0.56 2,627 19.41 0.0001
2021-07-09 2021-03-31 13F/A-1 BIGLARI HLDGS COM STK CL B 08986R309 16,569 -1,049 -5.95 2,200 12.30 0.0001
2021-05-17 2021-03-31 13F BIGLARI HLDGS COM STK CL B 08986R309 16,569 -1,049 2,200 0.0001
2021-02-16 2020-12-31 13F BIGLARI HLDGS COM STK CL B 08986R309 17,618 -320 -1.78 1,959 22.67 0.0001
2020-11-10 2020-09-30 13F BIGLARI HLDGS COM STK CL B 08986R309 17,938 570 3.28 1,597 33.31 0.0001
2020-08-14 2020-06-30 13F BIGLARI HLDGS COM STK CL B 08986R309 17,368 -382 -2.15 1,198 31.36 0.0001
2020-06-19 2020-03-31 13F/A-1 BIGLARI HLDGS COM STK CL B 08986R309 17,750 362 2.08 912 -54.17 0.0001
2020-05-11 2020-03-31 13F BIGLARI HLDGS COM STK CL B 08986R309 17,750 362 912 80.0920
2020-02-06 2019-12-31 13F BIGLARI HLDGS COM STK CL B 08986R309 17,388 -2,085 -10.71 1,990 -6.26 0.0001
2019-11-14 2019-09-30 13F BIGLARI HLDGS COM STK CL B 08986R309 19,473 15 0.08 2,123 5.05 0.0002
2019-08-14 2019-06-30 13F BIGLARI HLDGS COM STK CL B 08986R309 19,458 -363 -1.83 2,021 -27.87 0.0002
2019-05-15 2019-03-31 13F BIGLARI HLDGS COM STK CL B 08986R309 19,821 -63 -0.32 2,802 24.09 0.0002
2019-02-12 2018-12-31 13F BIGLARI HLDGS COM STK CL B 08986R309 19,884 -4,653 -18.96 2,258 -49.28 0.0002
2018-11-09 2018-09-30 13F BIGLARI HOLDINGS Common Stock 08986R309 24,537 3,399 16.08 4,452 14.71 0.0003
2018-08-14 2018-06-30 13F BIGLARI HOLDINGS Common Stock 08986R309 21,138 -5,765 -21.43 3,881 -64.68 0.0003
2018-05-15 2018-03-31 13F BIGLARI HOLDINGS Common equity shares 08986R101 26,903 -92 -0.34 10,988 -1.77 0.0009
2018-02-14 2017-12-31 13F BIGLARI HOLDINGS Common equity shares 08986R101 26,995 967 3.72 11,186 28.95 0.0009
2017-11-14 2017-09-30 13F BIGLARI HOLDINGS Common equity shares 08986R101 26,028 -19 -0.07 8,675 -16.69 0.0007
2017-08-14 2017-06-30 13F BIGLARI HOLDINGS Common equity shares 08986R101 26,047 720 2.84 10,413 -4.86 0.0009
2017-05-15 2017-03-31 13F BIGLARI HOLDINGS Common equity shares 08986R101 25,327 813 3.32 10,945 -5.64 0.0010
2017-02-09 2016-12-31 13F BIGLARI HOLDINGS Common equity shares 08986R101 24,514 607 2.54 11,599 11.26 0.0011
2017-01-13 2016-09-30 13F/A-1 BIGLARI HOLDINGS Common equity shares 08986R101 23,907 537 2.30 10,425 10.61 0.0011
2016-11-14 2016-09-30 13F BIGLARI HOLDINGS Common equity shares 08986R101 23,907 10,425
2016-08-12 2016-06-30 13F BIGLARI HOLDINGS Common equity shares 08986R101 23,370 -5,164 -18.10 9,425 -11.15 0.0010
2016-05-20 2016-03-31 13F/A-1 BIGLARI HOLDINGS Common equity shares 08986R101 28,534 562 2.01 10,608 16.39 0.0011
2016-05-12 2016-03-31 13F BIGLARI HOLDINGS Common equity shares 08986R101 28,534 10,608
2016-02-16 2015-12-31 13F BIGLARI HOLDINGS Common equity shares 08986R101 27,972 912 3.37 9,114 -7.88 0.0010
2015-11-16 2015-09-30 13F BIGLARI HOLDINGS Common equity shares 08986R101 27,060 -5,073 -15.79 9,894 -25.57 0.0012
2015-08-13 2015-06-30 13F BIGLARI HOLDINGS Common equity shares 08986R101 32,133 -1,832 -5.39 13,293 -5.48 0.0014
2015-05-15 2015-03-31 13F BIGLARI HOLDINGS Common equity shares 08986R101 33,965 827 2.50 14,064 6.20 0.0014
2015-02-11 2014-12-31 13F BIGLARI HOLDINGS Common equity shares 08986R101 33,138 -1,104 -3.22 13,243 13.82 0.0013
2014-11-12 2014-09-30 13F/A-1 BIGLARI HOLDINGS Common equity shares 08986R101 34,242 4,989 17.05 11,635 -5.94 0.0013
2014-11-10 2014-09-30 13F BIGLARI HOLDINGS Common equity shares 08986R101 34,242 11,635
2014-08-12 2014-06-30 13F BIGLARI HOLDINGS Common equity shares 08986R101 29,253 -1,137 -3.74 12,370 -16.51 0.0013
2014-05-15 2014-03-31 13F/A-1 BIGLARI HOLDINGS Common equity shares 08986R101 30,390 -645 -2.08 14,816 -5.77 0.0017
2014-05-13 2014-03-31 13F BIGLARI HOLDINGS Common equity shares 08986R101 30,390 14,816
2014-02-06 2013-12-31 13F/A-1 BIGLARI HOLDINGS Common equity shares 08986R101 31,035 -719 -2.26 15,724 19.98 0.0017
2014-02-06 2013-12-31 13F BIGLARI HOLDINGS Common equity shares 08986R101 29,627 11,557
2013-11-12 2013-09-30 13F BIGLARI HOLDINGS Common equity shares 08986R101 31,754 4,858 18.06 13,105 18.75 0.0016
2013-08-08 2013-06-30 13F BIGLARI HOLDINGS Common equity shares 08986R101 26,896 26,896 11,036 0.0014
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.