Biglari Holdings Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

NYSE:BH.A Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
17 Dec 25	BuyUS$601,135	Biglari Capital LLC	Company	368	US$1,633.52
16 Dec 25	BuyUS$347,702	Biglari Capital LLC	Company	216	US$1,635.37
24 Nov 25	BuyUS$299,536	Biglari Capital LLC	Company	213	US$1,406.27
20 Oct 25	SellUS$669,330	GAMCO Investors, Inc.	Company	406	US$1,766.78

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

What is the ownership structure of BH.A?
Owner Type	Number of Shares	Ownership Percentage
Individual Insiders	2,628	0.419%
General Public	10,513	1.67%
Institutions	165,741	26.4%
Hedge Funds	448,922	71.5%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 93.01% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
71.5%	Biglari Capital LLC	448,922	US$755.5m	2.51%	73.58%
4.18%	Dimensional Fund Advisors LP	26,242	US$44.2m	-0.2%	no data
2.04%	GAMCO Investors, Inc.	12,789	US$21.5m	-4.68%	0.08%
1.86%	BlackRock, Inc.	11,699	US$19.7m	1.32%	no data
1.61%	Renaissance Technologies LLC	10,108	US$17.0m	57.4%	0.02%
1.4%	Marshall Wace LLP	8,799	US$14.8m	977%	0.01%
1.29%	Vanguard Capital Management, LLC	8,078	US$13.6m	0%	no data
1.07%	Trexquant Investment LP	6,689	US$11.3m	94.3%	0.08%
0.74%	Qube Research & Technologies Ltd	4,646	US$7.8m	13.6%	0.01%
0.74%	Millennium Management LLC	4,628	US$7.8m	83.9%	no data
0.69%	First Trust Advisors LP	4,344	US$7.3m	0%	no data
0.63%	Invesco Capital Management LLC	3,943	US$6.6m	-17.1%	no data
0.61%	Geode Capital Management, LLC	3,828	US$6.4m	1.11%	no data
0.55%	Jane Street Group, LLC	3,481	US$5.9m	768%	no data
0.55%	Arrowstreet Capital, Limited Partnership	3,440	US$5.8m	-41.6%	no data
0.53%	State Street Global Advisors, Inc.	3,348	US$5.6m	-1.59%	no data
0.49%	XTX Markets Limited	3,056	US$5.1m	0%	0.08%
0.36%	Connor, Clark & Lunn Investment Management Ltd.	2,267	US$3.8m	2.86%	0.01%
0.36%	JP Morgan Asset Management	2,252	US$3.8m	-21%	no data
0.36%	Cooley Philip L.	2,238	US$3.8m	0%	no data
0.33%	Victory Capital Management Inc.	2,047	US$3.4m	2,820%	no data
0.31%	Tudor Investment Corporation	1,940	US$3.3m	0%	0.02%
0.28%	Check Capital Management Inc	1,771	US$3.0m	-28.2%	0.17%
0.27%	Two Sigma Investments, LP	1,719	US$2.9m	12.4%	no data
0.27%	The Goldman Sachs Group, Inc.	1,666	US$2.8m	-24.9%	no data

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/06/21 02:49
End of Day Share Price	2026/06/18 00:00
Earnings	2026/03/31
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Biglari Holdings Inc. is covered by 1 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Michael Gallo	CL King & Associates, Inc.