Biglari Holdings Inc.
US ˙ NYSE ˙ US08986R3093

SecurityBH / Biglari Holdings Inc.
InstitutionDimensional Fund Advisors Lp
Latest Disclosed Ownership16,659 shares
Ownership 1.38%
Dimensional Fund Advisors Lp ownership in BH / Biglari Holdings Inc.

2017-02-09 - Dimensional Fund Advisors Lp has filed an SC 13G/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 16,659 shares of Biglari Holdings Inc. (US:BH). This represents 1.38 percent ownership of the company. In their previous filing dated 2016-02-09 , Dimensional Fund Advisors Lp had reported owning 7,979 shares, indicating an increase of 108.79 percent.

Institutional Ownership: 13D/G Filings

This table shows a history of the 13D/G filings made by the investor and/or investor group. Note that the share values in this table are not directly comparable to any numbers shown in the 13F table (if any).

File
Date		Effective
Date		Form Prev
Shares		 Latest
Shares		 ΔShares
(Percent)		 Ownership
(Percent)		 ΔOwnership
(Percent)
2017-02-09 2017-02-09 13G/A 7,979 16,659 108.79 1.38 253.85
2016-02-09 2016-02-09 13G/A 7,979 0.39
2015-02-05 2015-02-05 13G/A 129,932 6.29
2014-02-10 2014-02-10 13G/A 108,228 6.29
2013-02-11 2013-02-11 13G/A 87,738 6.12
2012-02-14 2012-02-14 13G/A 90,035 6.28

Important Note: One of the primary uses of the 13D/G filings is to evaluate the ability of a firm to control a company (ie, the "beneficial ownership"). To that end, firms are required to report not just direct holdings in companies, but indirect holdings that they control. For investment firms, these indirect holdings can include shares in funds they manage, advisory accounts, and in the case of activist campaigns, pledged votes. Therefore, share counts listed in 13D/G filings can differ significantly than share counts listed in 13F filings.

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.

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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)
2026-05-07 2026-03-31 13F BIGLARI HLDGS COM STK CL B 08986R309 102,247 57 0.06 33,696 -0.82 0.0015
2026-02-12 2025-12-31 13F BIGLARI HLDGS COM STK CL B 08986R309 102,190 1,371 1.36 33,972 4.11 0.0071
2025-11-12 2025-09-30 13F BIGLARI HLDGS COM STK CL B 08986R309 100,819 5,908 6.22 32,630 17.66 0.0070
2025-08-12 2025-06-30 13F BIGLARI HLDGS COM STK CL B 08986R309 94,911 2,217 2.39 27,734 38.17 0.0064
2025-05-13 2025-03-31 13F BIGLARI HLDGS COM STK CL B 08986R309 92,694 1,225 1.34 20,072 -13.71 0.0050
2025-02-13 2024-12-31 13F BIGLARI HLDGS COM STK CL B 08986R309 91,469 573 0.63 23,260 48.78 0.0056
2024-11-07 2024-09-30 13F BIGLARI HLDGS COM STK CL B 08986R309 90,896 1,093 1.22 15,635 -9.97 0.0038
2024-08-09 2024-06-30 13F BIGLARI HLDGS COM STK CL B 08986R309 89,803 1,291 1.46 17,366 3.44 0.0045
2024-05-10 2024-03-31 13F BIGLARI HLDGS COM STK CL B 08986R309 88,512 967 1.10 16,789 16.27 0.0045
2024-02-07 2023-12-31 13F BIGLARI HLDGS COM STK CL B 08986R309 87,545 3,365 4.00 14,439 3.33 0.0042
2023-11-09 2023-09-30 13F BIGLARI HLDGS COM STK CL B 08986R309 84,180 -618 -0.73 13,974 -16.40 0.0046
2023-08-09 2023-06-30 13F BIGLARI HLDGS COM STK CL B 08986R309 84,798 -1,127 -1.31 16,717 14.98 0.0053
2023-05-12 2023-03-31 13F BIGLARI HLDGS COM STK CL B 08986R309 85,925 2,813 3.38 14,538 132,063.64 0.0049
2023-02-09 2022-12-31 13F BIGLARI HLDGS COM STK CL B 08986R309 83,112 2,096 2.59 12 -99.88 0.0034
2022-11-10 2022-09-30 13F BIGLARI HLDGS COM STK CL B 08986R309 81,016 1,536 1.93 9,366 -3.95 0.0036
2022-08-12 2022-06-30 13F BIGLARI HLDGS COM STK CL B 08986R309 79,480 2,002 2.58 9,751 -12.97 0.0035
2022-05-13 2022-03-31 13F BIGLARI HLDGS COM 08986R309 77,478 210 0.27 11,204 1.71 0.0035
2022-02-09 2021-12-31 13F BIGLARI HLDGS COM 08986R309 77,268 872 1.14 11,016 -16.07 0.0033
2021-11-12 2021-09-30 13F BIGLARI HLDGS COM 08986R309 76,396 -248 -0.32 13,125 7.39 0.0042
2021-08-12 2021-06-30 13F BIGLARI HLDGS COM 08986R309 76,644 -1,017 -1.31 12,222 18.53 0.0039
2021-05-14 2021-03-31 13F BIGLARI HLDGS COM 08986R309 77,661 -2,236 -2.80 10,311 16.05 0.0034
2021-03-08 2020-12-31 13F/A-2 BIGLARI HLDGS COM 08986R309 79,897 -419 -0.52 8,885 24.28 0.0032
2021-02-11 2020-12-31 13F BIGLARI HLDGS COM 08986R309 79,897 74,482 8,885 3,208.7897
2020-11-12 2020-09-30 13F BIGLARI HLDGS COM 08986R309 80,316 93 0.12 7,149 29.18 0.0030
2020-08-13 2020-06-30 13F BIGLARI HLDGS COM 08986R309 80,223 -2,566 -3.10 5,534 30.06 0.0024
2020-05-14 2020-03-31 13F BIGLARI HLDGS COM 08986R309 82,789 8,337 11.20 4,255 -50.05 0.0022
2020-02-14 2019-12-31 13F BIGLARI HLDGS COM 08986R309 74,452 3,342 4.70 8,519 9.91 0.0031
2019-11-12 2019-09-30 13F BIGLARI HLDGS COM 08986R309 71,110 3,698 5.49 7,751 10.70 0.0030
2019-08-13 2019-06-30 13F BIGLARI HLDGS COM 08986R309 67,412 4,504 7.16 7,002 -21.26 0.0027
2019-08-12 2019-03-31 13F/A-2 BIGLARI HLDGS COM 08986R309 62,908 5,583 9.74 8,893 36.58 0.0035
2019-05-10 2019-03-31 13F BIGLARI HLDGS COM 08986R309 62,908 57,404 8,893
2019-02-26 2018-12-31 13F/A-1 BIGLARI HLDGS COM 08986R309 57,325 8,017 16.26 6,511 -27.19 0.0029
2019-02-13 2018-12-31 13F BIGLARI HLDGS COM 08986R309 57,325 6,511
2018-11-13 2018-09-30 13F BIGLARI HLDGS COM 08986R309 49,308 5,087 11.50 8,942 10.20 0.0034
2018-08-10 2018-06-30 13F BIGLARI HLDGS COM 08986R309 44,221 2,973 7.21 8,114 -51.83 0.0032
2018-05-11 2018-03-31 13F BIGLARI HLDGS COM 08986R101 41,248 6,206 17.71 16,846 16.00 0.0070
2018-02-12 2017-12-31 13F BIGLARI HLDGS COM 08986R101 35,042 6,011 20.71 14,522 50.08 0.0060
2017-11-13 2017-09-30 13F BIGLARI HLDGS COM 08986R101 29,031 4,426 17.99 9,676 -1.63 0.0042
2017-08-11 2017-06-30 13F BIGLARI HLDGS COM 08986R101 24,605 4,374 21.62 9,836 12.57 0.0045
2017-05-12 2017-03-31 13F BIGLARI HLDGS COM 08986R101 20,231 3,572 21.44 8,738 10.83 0.0042
2017-02-09 2016-12-31 13F BIGLARI HLDGS COM 08986R101 16,659 1,718 11.50 7,884 21.05 0.0039
2016-11-10 2016-09-30 13F BIGLARI HLDGS COM 08986R101 14,941 2,001 15.46 6,513 24.79 0.0035
2016-08-09 2016-06-30 13F BIGLARI HLDGS COM 08986R101 12,940 2,565 24.72 5,219 35.31 0.0030
2016-05-13 2016-03-31 13F BIGLARI HLDGS COM 08986R101 10,375 2,396 30.03 3,857 48.29 0.0023
2016-02-10 2015-12-31 13F BIGLARI HLDGS COM 08986R101 7,979 2,332 41.30 2,601 25.90 0.0016
2015-11-13 2015-09-30 13F BIGLARI HLDGS COM 08986R101 5,647 -127,743 -95.77 2,066 -96.26 0.0014
2015-08-14 2015-06-30 13F BIGLARI HLDGS COM 08986R101 133,390 2,654 2.03 55,190 1.94 0.0338
2015-05-14 2015-03-31 13F BIGLARI HLDGS COM 08986R101 130,736 804 0.62 54,138 4.30 0.0342
2015-02-06 2014-12-31 13F BIGLARI HLDGS COM 08986R101 129,932 -1,571 -1.19 51,908 16.18 0.0341
2014-11-13 2014-09-30 13F BIGLARI HLDGS COM 08986R101 131,503 19,921 17.85 44,680 -5.33 0.0317
2014-08-08 2014-06-30 13F BIGLARI HLDGS COM 08986R101 111,582 1,715 1.56 47,196 -11.88 0.0328
2014-05-14 2014-03-31 13F BIGLARI HLDGS COM 08986R101 109,867 1,639 1.51 53,558 -2.33 0.0400
2014-02-12 2013-12-31 13F BIGLARI HLDGS COM 08986R101 108,228 -683 -0.63 54,833 22.00 0.0427
2013-11-13 2013-09-30 13F BIGLARI HLDGS COM 08986R101 108,911 19,520 21.84 44,944 22.51 0.0389
2013-08-15 2013-06-30 13F BIGLARI HLDGS COM 08986R101 89,391 89,391 36,686 0.0345
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.