What is the 13F Pro Quality Score for BH?

13F Pro ranks Biglari Holdings Inc. (BH) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View BH's current score at https://13fpro.ai/research/BH (free sign-up required for the full ranking).

Which hedge funds own the most BH stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of BH include BIGLARI CAPITAL, BIGLARI CAPITAL, DIMENSIONAL FUND ADVISORS. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/BH as soon as new 13F filings post.

Where does 13F Pro source BH data?

All Biglari Holdings Inc. fundamentals and ownership data come directly from SEC EDGAR. Biglari Holdings Inc. files with the SEC under CIK 1726173. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is BH in?

Biglari Holdings Inc. (BH) is classified in the Consumer Discretionary sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/consumer-discretionary.

How often is BH research updated on 13F Pro?

BH's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Biglari Holdings Inc.(BH)Stock Analysis

AI analysis on 2,800+ stocks →Deep AI analysis on 2,800+ stocks →

Consumer Discretionary →NYSE

Institutional-grade research for retail investors

SEC EDGAR: CIK 1726173 BH stock profile & AI dashboard →

13F Pro Quality Score

52.5/100

Rank #1,345 of 2,879 stocksTOP 50%

View Consumer Discretionary peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

46.7/100

Profitability

52.6/100

Balance Sheet

34.9/100

Earnings Quality

30.0/100

Free Cash Flow

79.3/100

Institutional Flow

86.4/100

Revenue Scale

33.2/100

Dilution Risk

94.9/100

BH Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Biglari Holdings Inc. (BH), a Consumer Discretionary sector company. 13F Pro's AI-powered ranking engine scores BH at 52.5/100 on a 32-signal composite quality model, placing it at rank #1,345 of 2,879 stocks — the top half of the AI-ranked universe. BH scores in the top quartile across institutional flow (86.4), free cash flow (79.3). Areas of concern include earnings quality (30.0) and revenue scale (33.2), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q1 2026), Biglari Holdings Inc. reports quarterly revenue of $97.5M, net income of $-14.5M, free cash flow of $13.4M. Top institutional holders of BH by reported 13-F value include BIGLARI CAPITAL, BIGLARI CAPITAL, DIMENSIONAL FUND ADVISORS, based on the most recent SEC filings. BH trades on the NYSE exchange and files with the SEC under CIK 1726173. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate BH daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Biglari Holdings Inc. directly from SEC EDGAR. Biglari Holdings Inc.'s 13F Pro composite quality score has ranged between 24 and 66 since 2021, currently 52.5 — an improving long-term trajectory across 28 quarterly and live scoring snapshots.

✦

Fun facts about Biglari Holdings Inc.

Quirks, history, and lore behind BH — the kind of stuff that makes a stock memorable.

1
The Basics
A holding company in the consumer discretionary sector · listed on a U.S. exchange · controlled by a single dominant individual shareholder who runs it like a personal empire.
2
The Numbers
Annual revenue in the hundreds of millions of dollars, with a stock price that trades at a very high per-share price due to a tiny float — reminiscent of a certain Omaha-based conglomerate's style.
3
The History
The controlling shareholder acquired a struggling fast-food chain as his core asset and used it as a launchpad to build a Berkshire-style conglomerate, complete with an insurance arm.
4
The Secret
Its CEO publishes a shareholder letter mimicking Buffett's in style, and the company has made investments in media and restaurant brands far beyond its humble burger-and-milkshake roots.
5
The Lore
The chairman once locked himself in a public spat over shareholder governance and drew attention for his outsized personal compensation relative to the company's size — not exactly the Buffett-humble playbook.
6
The Giveaway
The crown jewel is Steak 'n Shake — the vintage diner chain famous for its steakburgers and hand-dipped milkshakes — owned by a Texas-based conglomerate with the initials BH.

▶ Think you know your stocks? Play the Daily Ticker

Revenue

Q1 2026

$97.5M

Net Income

Q1 2026

$-14.5M

Free Cash Flow

Q1 2026

$13.4M

ROIC

Q1 2026

-2.6%

D/E Ratio

Q1 2026

0.46

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

-0.9% YoY

$362.1MFY 2024

FY20 $433.7MFY21 $366.1MFY23 $365.3MFY24 $362.1M

Net Income

-106.8% YoY

$-3.8MFY 2024

FY20 $-38.0MFY21 $35.5MFY23 $54.9MFY24 $-3.8M

EPS (Diluted)

-107.1% YoY

$-13.45FY 2024

FY20 $-110.05FY21 $111.83FY23 $189.49FY24 $-13.45

Total Assets

+2.0% YoY

$866.1MFY 2024

FY20 $1.02BFY21 $894.8MFY23 $849.4MFY24 $866.1M

Total Debt

$45.0MFY 2024

FY20 $263.9MFY21 $104.5MFY23 $0.00FY24 $45.0M

Op. Cash Flow

-32.0% YoY

$49.7MFY 2024

FY20 $117.6MFY21 $228.8MFY23 $73.0MFY24 $49.7M

Metric	FY 2024	FY 2023	FY 2021	FY 2020	FY 2019	FY 2018
Revenue	$362.1M -0.9%	$365.3M -0.2%	$366.1M -15.6%	$433.7M -35.2%	$668.8M -17.4%	$809.9M
Net Income	$-3.8M -106.8%	$54.9M +54.9%	$35.5M +193.4%	$-38.0M -183.7%	$45.4M +134.0%	$19.4M
EPS (Diluted)	$-13.45 -107.1%	$189.49 +69.4%	$111.83 +201.6%	$-110.05 -183.6%	$131.64	—
Total Assets	$866.1M +2.0%	$849.4M -5.1%	$894.8M -12.1%	$1.02B -10.7%	$1.14B +10.7%	$1.03B
Total Debt	$45.0M	$0.00 -100.0%	$104.5M -60.4%	$263.9M -2.4%	$270.3M +10.0%	$245.7M
Operating Cash Flow	$49.7M -32.0%	$73.0M -68.1%	$228.8M +94.6%	$117.6M +25.5%	$93.7M +353.1%	$20.7M

AI Insight: BH Financial Trends

Debt load surged to $240M by Q1 2026 from zero two years prior, pressuring equity down to $519M — the lowest in the series.

• Revenue grew modestly from $91M in Q2 2024 to $101M in Q2 2025, but has since plateaued near $97–$100M through Q1 2026.

• Total debt jumped from $0M in Q2 2024 to $247M in Q4 2025, remaining elevated at $240M in Q1 2026.

• Equity eroded from a peak of $602M in Q3 2024 to $519M in Q1 2026, a decline of $83M over five quarters.

• Operating cash flow improved from $2M in Q2 2024 to $42M in Q2 2025, though it has since retreated to $20M in Q1 2026.

⚠ Net income is highly volatile — swinging from +$51M in Q2 2025 to -$50M in Q4 2025 — signaling investment-portfolio sensitivity.

⚠ New $240M+ debt position with no prior leverage warrants monitoring of interest burden and debt-service capacity.

⚠ Operating income data is absent throughout; inability to assess core business profitability trends is a key analytical gap.

AI Insight: BH Ratio Trends

Biglari Holdings' returns are uniformly negative across every holding-period view, with Q4 2025 OpMargin cratering to -64.1% and TTM ROIC standing at -3.3%.

• Operating margin swings violently quarter to quarter — from +64.7% in Q2 2025 to -64.1% in Q4 2025 — signaling investment-mark volatility dominates reported earnings.

• TTM OpMargin of -6.4% and TTM NPM of -4.7% confirm that, on a rolling annual basis, the business generates no operating or net profit.

• D/E ratio edged up from 0.41 in Q3 2025 to 0.47 in Q4 2025, then held at 0.46 in Q1 2026, suggesting modest but stable leverage.

⚠ Q4 2025 ROE collapsed to -38.1%, the worst single-quarter reading in the table — watch whether Q1 2026's -11.2% marks a genuine recovery or dead-cat bounce.

⚠ ROIC has been negative in six of eight quarters shown; only investment-gain quarters rescued returns, raising sustainability concerns.

Get alerted when BH's score changes

Free account: watchlist tracking, the daily AI brief, and the AI screener.

Passwordless sign-in · Payments by Stripe · Auth by Clerk

Available Research

13F Pro tracks comprehensive data for Biglari Holdings Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of BH

BIGLARI CAPITAL CORP.
$467.1M1,417,285 sh
BIGLARI CAPITAL CORP.
$269.2M154,474 sh
DIMENSIONAL FUND ADVISORS LP
$33.7M102,247 sh
GAMCO INVESTORS, INC. ET AL
$19.6M11,229 sh
BlackRock, Inc.
$14.8M45,046 sh
MARSHALL WACE, LLP
$10.6M32,207 sh
DIMENSIONAL FUND ADVISORS LP
$10.1M5,793 sh
RENAISSANCE TECHNOLOGIES LLC
$10.0M5,760 sh
VANGUARD CAPITAL MANAGEMENT LLC
$9.8M29,755 sh
Qube Research & Technologies Ltd
$7.4M22,415 sh

Fund	Value	Shares
BIGLARI CAPITAL CORP.	$467.1M	1,417,285
BIGLARI CAPITAL CORP.	$269.2M	154,474
DIMENSIONAL FUND ADVISORS LP	$33.7M	102,247
GAMCO INVESTORS, INC. ET AL	$19.6M	11,229
BlackRock, Inc.	$14.8M	45,046
MARSHALL WACE, LLP	$10.6M	32,207
DIMENSIONAL FUND ADVISORS LP	$10.1M	5,793
RENAISSANCE TECHNOLOGIES LLC	$10.0M	5,760
VANGUARD CAPITAL MANAGEMENT LLC	$9.8M	29,755
Qube Research & Technologies Ltd	$7.4M	22,415

More Consumer Discretionary Companies

View all Consumer Discretionary →

AACG

ATA Creativity Global

AAP

ADVANCE AUTO PARTS INC

ABG

ASBURY AUTOMOTIVE GROUP INC

ABLV

Able View Global Inc.

AENT

ALLIANCE ENTERTAINMENT HOLDING CORP

AEO

AMERICAN EAGLE OUTFITTERS INC

AFYA

Afya Ltd

AIHS

Senmiao Technology Ltd

Put BH on your watchlist

Track score changes the day Biglari Holdings Inc. files with the SEC, follow the hedge funds that own it, screen 2,800+ AI-scored stocks, and get the daily brief — free.

View Pricing

Free tier includes 13F data, economic indicators, and market overview. Pro starts at $6.67/mo (billed annually).

Passwordless sign-in · Payments by Stripe · Auth by Clerk

Popular Research

AAPL

Apple

MSFT

Microsoft

NVDA

NVIDIA

GOOG

Alphabet

AMZN

Amazon

Is BH a good stock to buy?

13F Pro's AI-powered analysis of Biglari Holdings Inc. (BH) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Consumer Discretionary sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for BH are available on the BH stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own BH?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling BH. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Biglari Holdings Inc.'s investment landscape.