BHA — BIGLARI HLDGS INC
As of Q2 2026, 16 SEC-registered investment managers reported holding BHA (BIGLARI HLDGS INC) in their latest 13F filings, with a combined reported value of $43.46M across 20.65K shares. That is +20.6% by share count (+3.53K shares) versus the previous quarter, while reported value moved +45.7%. Ownership is concentrated: the five largest holders account for 91.5% of reported value and the top ten for 98.8%.
Compared with the prior quarter, 5 opened new positions, 7 added to existing stakes, 4 trimmed, 3 exited entirely. 13F holdings are quarter-end snapshots, so these moves reflect positioning as of Q2 2026, not real-time trading.
All figures on this page are computed from SEC Form 13F quarterly filings. 13F filers disclose long positions of $100,000 or more within 45 days of quarter end; short positions, options overlays and intra-quarter trades are not included, so treat the numbers as a quarterly snapshot of institutional ownership rather than real-time positioning.
| Fund | Quarter | Shares | Value | Portfolio Weight | Change |
|---|---|---|---|---|---|
| Renaissance Technologies history | Q2 2026 | 6.07K | $12.76M | 0.02% | Add |
| BlackRock Inc history | Q2 2026 | 5.41K | $11.39M | 0.00% | Add |
| UBS Group AG history | Q2 2026 | 3.30K | $6.94M | 0.00% | Add |
| Marshall Wace history | Q2 2026 | 2.24K | $4.71M | 0.00% | Reduce |
| Vanguard Group history | Q4 2025 | 2.49K | $4.34M | 0.00% | Reduce |
| Geode Capital Management history | Q2 2026 | 1.89K | $3.98M | 0.00% | Add |
| Arrowstreet Capital history | Q1 2026 | 1.37K | $2.39M | 0.00% | Add |
| Millennium Management history | Q1 2026 | 1.16K | $2.02M | 0.00% | Add |
| Northern Trust Corp history | Q2 2026 | 446 | $938.69K | 0.00% | Add |
| Citadel Advisors history | Q4 2025 | 508 | $883.95K | 0.00% | Reduce |
| Balyasny Asset Management history | Q2 2026 | 395 | $831.35K | 0.00% | Reduce |
| Point72 Asset Management history | Q1 2026 | 471 | $820.81K | 0.00% | Add |
| BNY Mellon history | Q2 2026 | 229 | $481.97K | 0.00% | New |
| Goldman Sachs Group history | Q2 2026 | 223 | $469.34K | 0.00% | Reduce |
| Morgan Stanley history | Q2 2026 | 205 | $431.46K | 0.00% | Reduce |
| Fidelity Management & Research (FMR) history | Q2 2026 | 95 | $199.26K | 0.00% | Add |
| Deutsche Bank AG history | Q2 2026 | 54 | $113.65K | 0.00% | New |
| Wells Fargo & Co history | Q2 2026 | 45 | $94.71K | 0.00% | New |
| Citigroup Inc history | Q2 2026 | 32 | $67.35K | 0.00% | Add |
| JPMorgan Chase & Co history | Q2 2026 | 23 | $49.61K | 0.00% | New |
New Positions (Q2 2026)
- BNY Mellon 229 sh · $481.97K
- Deutsche Bank AG 54 sh · $113.65K
- Wells Fargo & Co 45 sh · $94.71K
- JPMorgan Chase & Co 23 sh · $49.61K
- Legal & General Investment Management America 3 sh · $6.33K
Fully Exited (vs previous quarter)
- Arrowstreet Capital sold 1.37K sh · $2.39M
- Millennium Management sold 1.16K sh · $2.02M
- Point72 Asset Management sold 471 sh · $820.81K
Fund Position History — shares by quarter (top 20 funds)
| Fund | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Renaissance Technologies | 280 | 290 | 290 | — | — | — | 270 | 310 | 330 | 340 | 340 | 350 | 350 | 320 | 330 | 460 | 3.52K | 4.23K | 5.76K | 6.07K |
| BlackRock Inc | — | — | — | — | — | — | — | — | — | — | — | — | 1.57K | 1.57K | 1.57K | 1.56K | 1.56K | 1.58K | 2.69K | 5.41K |
| UBS Group AG | 18 | 56 | 32 | — | — | — | 62 | — | 50 | 1 | 1 | 57 | 9 | 8 | 61 | 3 | 19 | 66 | 604 | 3.30K |
| Marshall Wace | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 658 | 677 | 2.36K | 2.24K |
| Geode Capital Management | 721 | 710 | 622 | 631 | 631 | 630 | 639 | 465 | 465 | 488 | 550 | 546 | 540 | 617 | 719 | 750 | 922 | 860 | 1.06K | 1.89K |
| Northern Trust Corp | — | — | — | — | — | — | — | — | — | — | — | — | — | 160 | — | 160 | — | 141 | 141 | 446 |
| Balyasny Asset Management | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 228 | 858 | 395 |
| BNY Mellon | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 229 |
| Goldman Sachs Group | — | — | — | — | — | — | — | — | — | — | — | — | — | 242 | 350 | 156 | 160 | 563 | 327 | 223 |
| Morgan Stanley | 67 | 70 | 85 | 62 | 60 | 60 | 61 | 57 | 57 | 58 | 58 | 58 | 58 | 58 | 67 | 58 | 129 | 142 | 223 | 205 |
| Fidelity Management & Research (FMR) | — | — | — | — | — | — | — | — | — | — | — | — | 1 | — | — | — | — | 30 | 93 | 95 |
| Deutsche Bank AG | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 54 |
| Wells Fargo & Co | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | — | — | — | — | — | — | — | — | — | — | 45 |
| Citigroup Inc | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 3 | 4 | 4 | 4 | 32 |
| JPMorgan Chase & Co | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 252 | — | 23 |
| Legal & General Investment Management America | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 3 |
| Citadel Advisors | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 764 | 508 | — | — |
| Point72 Asset Management | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 462 | 471 | — |
| Arrowstreet Capital | — | — | — | — | — | — | — | — | — | — | — | — | 66 | 66 | 66 | 66 | 66 | 883 | 1.37K | — |
| Bank of America Corp | 268 | 92 | 92 | 70 | 53 | 45 | 53 | 48 | 45 | 90 | 45 | 45 | 35 | 35 | 19 | 18 | 17 | 18 | — | — |