InvestorLens

BH-A — BIGLARI HLDGS INC

Public company

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For educational research only.InvestorLens analyzes public regulatory filings (SEC EDGAR, STOCK Act PTRs) that may be delayed by 45 days or more. Information shown is historical and is not financial, legal, or tax advice, nor a recommendation or solicitation to buy or sell any security. Always do your own research.

InvestorLens aggregates public filing data to show which tracked investors reported holdings in this stock. Dollar values represent reported position values, not market capitalization, and may be delayed up to 45 days. Not a recommendation.

Sourced from SEC EDGAR public filings

Why are billionaires buying BH-A?

Built from public SEC filings and public economic data. Not a recommendation.

Confidence
50
Institutional Conviction
Net distribution · 2 buying vs 2 selling last quarter
37
Macro Tailwind
Macro conditions are mixed for this sector
55
Why? — Evidence & Confidence ▾

Of 4 tracked investors who changed their BH-A position last quarter, 2 bought and 2 sold (50% buy-side). Macro conditions are mixed for this sector (Macro Tailwind 55/100 in a Squeeze regime).

Supporting evidence
  • +2 tracked investors added or increased positions last quarter (Ken Griffin, Izzy Englander)
  • +3 tracked investors reported holding BH-A at their latest filing
  • +Macro Health is 55/100 in a Squeeze regime — historically acceptable for this sectorsource
Contradicting evidence — always shown
  • −2 tracked investors reduced or exited last quarter (1 reduced, 1 sold out)
  • −13F data is disclosed up to 45 days after quarter end — positions may have changed since
Know the limits
  • · 13F disclosure lag (up to 45 days)
  • · Tracked investors are a sample, not the whole market
  • · Sector regime fit is a historical average, not a guarantee

Every InvestorLens score shows its evidence — including what argues against it. Model conviction-v1 · generated 8/20/2026.

About BIGLARI HLDGS INC (BH-A)

BIGLARI HLDGS INC (BH-A) appears in the most recent 13F filings of 3 tracked institutional investors. The largest disclosed position is held by Izzy Englander (Millennium Management), valued at $11M. Across recent filings, tracked investors recorded 6 new positions, 5 increased, 4 reduced, and 1 exited. All data sourced from SEC 13F filings.

Smart Money Consensus™

Based on recent institutional activity in BH-A

69
/100
Institutional Accumulation
Added / Increased11
Reduced4
Exited1
BearishBullish
Crowded Trade Score™

How many top investors track BH-A

20
/100
Emerging Interest
3investors

A small number of top investors own this.

UndiscoveredCrowded
151015+

BH-A Ownership Composition

How BIGLARI HLDGS INC is held across tracked investor types, based on reported 13F positions.

Dominant Type
Multi-Strategy / Quant
100% of tracked value
Institutions
3
tracked investors
Total Reported
$14.5M
combined 13F value
Types1
  • Multi-Strategy / Quant100.0%
Multi-Strategy / Quant(3)
100.0%

Tracked investors currently reporting BH-A

1 tracked investor has since exited this position — listed separately below.

  • Izzy EnglanderJun 30, 2026
    Millennium Management
    Shares
    26.8K
    Value
    $11.4M
    % Portfolio
    0.00%
  • Steve CohenJun 30, 2026
    Point72 Asset Management
    Shares
    4.2K
    Value
    $1.8M
    % Portfolio
    0.00%
  • Ken GriffinJun 30, 2026
    Citadel Advisors
    Shares
    3K
    Value
    $1.3M
    % Portfolio
    0.00%

Previously held BH-A

These investors reported BH-A in an earlier quarter but not in their most recent 13F. Figures below are their last reported position, not a current holding.

InvestorFirmLast reported sharesValue thenLast held
Paul Tudor JonesTudor Investment Corp9.7K$3.2MMar 31, 2026

Recent activity

Frequently asked questions

How many institutional investors hold BH-A?
3 tracked institutional investors disclosed a position in BH-A (BIGLARI HLDGS INC) in their most recent 13F filing.
Who is the largest institutional holder of BH-A?
Izzy Englander, Millennium Management, holds the largest disclosed position in BH-A, valued at $11M.
Did institutional ownership of BH-A increase or decrease?
Across recent 13F filings, tracked investors recorded 6 new positions, 5 increased, 4 reduced, and 1 fully exited BH-A.
Where does this BH-A ownership data come from?
SEC Form 13F-HR filings, accessed via EDGAR. 13F filings are disclosed quarterly with a 45-day reporting delay and cover U.S.-listed long equity positions only. This is not investment advice.