Vanguard Group
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Vanguard Group’s Biglari Holdings Class B BH Stock Holding History

Vanguard Group’s Portfolio BH Stock Details BH Fund Activity
Bought
Maintained
Sold
Quarter Market Value Status Shares Change in
Stake 		Trade Value Portfolio Weight Portfolio Position
2025
Q4 		$13.3M Buy
39,931
+1,829
+5% +$614K ﹤0.01% 2816
2025
Q3 		$12.3M Buy
38,102
+122
+0.3% +$37.2K ﹤0.01% 2862
2025
Q2 		$11.1M Sell
37,980
-2,950
-7% -$716K ﹤0.01% 2852
2025
Q1 		$8.86M Buy
40,930
+3,469
+9% +$791K ﹤0.01% 2910
2024
Q4 		$9.53M Sell
37,461
-3,655
-9% -$736K ﹤0.01% 2985
2024
Q3 		$7.07M Buy
41,116
+2,151
+6% +$391K ﹤0.01% 3119
2024
Q2 		$7.54M Buy
38,965
+10,032
+35% +$1.97M ﹤0.01% 3065
2024
Q1 		$5.49M Buy
28,933
+490
+2% +$82.7K ﹤0.01% 3268
2023
Q4 		$4.69M Buy
28,443
+285
+1% +$43.9K ﹤0.01% 3313
2023
Q3 		$4.67M Buy
28,158
+271
+1% +$51K ﹤0.01% 3280
2023
Q2 		$5.5M Sell
27,887
-901
-3% -$169K ﹤0.01% 3256
2023
Q1 		$4.87M Buy
28,788
+58
+0.2% +$9.58K ﹤0.01% 3314
2022
Q4 		$3.99M Buy
28,730
+86
+0.3% +$11.8K ﹤0.01% 3408
2022
Q3 		$3.31M Sell
28,644
-434
-1% -$54.4K ﹤0.01% 3532
2022
Q2 		$3.57M Sell
29,078
-283
-1% -$37.9K ﹤0.01% 3543
2022
Q1 		$4.25M Sell
29,361
-4
-0% -$537 ﹤0.01% 3613
2021
Q4 		$4.19M Buy
29,365
+1,104
+4% +$171K ﹤0.01% 3705
2021
Q3 		$4.86M Sell
28,261
-1,167
-4% -$196K ﹤0.01% 3679
2021
Q2 		$4.69M Sell
29,428
-9,393
-24% -$1.45M ﹤0.01% 3642
2021
Q1 		$5.15M Buy
38,821
+515
+1% +$64.7K ﹤0.01% 3513
2020
Q4 		$4.26M Buy
38,306
+658
+2% +$67.6K ﹤0.01% 3433
2020
Q3 		$3.35M Sell
37,648
-385
-1% -$31.6K ﹤0.01% 3330
2020
Q2 		$2.62M Sell
38,033
-805
-2% -$51.8K ﹤0.01% 3358
2020
Q1 		$2M Buy
38,838
+2,160
+6% +$212K ﹤0.01% 3317
2019
Q4 		$4.2M Sell
36,678
-47,891
-57% -$4.88M ﹤0.01% 3222
2019
Q3 		$9.22M Sell
84,569
-9,272
-10% -$917K ﹤0.01% 2854
2019
Q2 		$9.75M Sell
93,841
-27,667
-23% -$3.3M ﹤0.01% 2872
2019
Q1 		$17.2M Buy
121,508
+1,163
+1% +$153K ﹤0.01% 2577
2018
Q4 		$13.7M Buy
120,345
+6,516
+6% +$961K ﹤0.01% 2614
2018
Q3 		$20.6M Buy
113,829
+15,625
+16% +$2.99M ﹤0.01% 2561
2018
Q2 		$18M Sell
98,204
-63,535
-39% -$14.4M ﹤0.01% 2610
2018
Q1 		$44M Buy
161,739
+5,328
+3% +$1.47M ﹤0.01% 2139
2017
Q4 		$43.2M Sell
156,411
-732
-0.5% -$176K ﹤0.01% 2132
2017
Q3 		$34.9M Buy
157,143
+5,706
+4% +$1.29M ﹤0.01% 2231
2017
Q2 		$40.4M Buy
151,437
+14,718
+11% +$4.03M ﹤0.01% 2118
2017
Q1 		$39.4M Buy
136,719
+6,795
+5% +$1.99M ﹤0.01% 2120
2016
Q4 		$41M Buy
129,924
+433
+0.3% +$131K ﹤0.01% 2078
2016
Q3 		$37.6M Sell
129,491
-1,234
-0.9% -$352K ﹤0.01% 2065
2016
Q2 		$35.2M Buy
130,725
+6,610
+5% +$1.69M ﹤0.01% 2055
2016
Q1 		$30.8M Buy
124,115
+3,197
+3% +$772K ﹤0.01% 2100
2015
Q4 		$26.3M Buy
120,918
+3,250
+3% +$786K ﹤0.01% 2186
2015
Q3 		$28.7M Sell
117,668
-73,764
-39% -$19.8M ﹤0.01% 2128
2015
Q2 		$52.8M Buy
191,432
+4,544
+2% +$1.18M ﹤0.01% 1911
2015
Q1 		$51.6M Buy
186,888
+5,433
+3% +$1.53M ﹤0.01% 1895
2014
Q4 		$48.3M Buy
181,455
+3,040
+2% +$716K ﹤0.01% 1852
2014
Q3 		$40.4M Buy
178,415
+20,547
+13% +$5.14M ﹤0.01% 1911
2014
Q2 		$41.3M Buy
157,868
+1,967
+1% +$529K ﹤0.01% 1923
2014
Q1 		$47M Buy
155,901
+7,968
+5% +$2.29M ﹤0.01% 1844
2013
Q4 		$46.4M Buy
147,933
+385
+0.3% +$109K ﹤0.01% 1827
2013
Q3 		$37.7M Buy
147,548
+18,390
+14% +$4.63M ﹤0.01% 1877
2013
Q2 		$30.5M Buy
+129,158
New +$29.4M ﹤0.01% 1910

Other funds holding BH

BCC
Biglari Capital Corp San Antonio, Texas $929M AUM 39.8% 1-Year Est. Return
Dimensional Fund Advisors
Dimensional Fund Advisors Austin, Texas $481B AUM 30.42% 1-Year Est. Return
BlackRock
BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return
Arrowstreet Capital
Arrowstreet Capital Boston, Massachusetts $185B AUM 39.58% 1-Year Est. Return
Invesco
Invesco Atlanta, Georgia $1.02T AUM 30.18% 1-Year Est. Return
Qube Research & Technologies (QRT)
Qube Research & Technologies (QRT) London, United Kingdom $89.9B AUM 20.22% 1-Year Est. Return
BCM
Bridgeway Capital Management Houston, Texas $4.97B AUM 44.96% 1-Year Est. Return
JP Morgan Chase
JP Morgan Chase New York $1.56T AUM 27.86% 1-Year Est. Return
Geode Capital Management
Geode Capital Management Boston, Massachusetts $1.61T AUM 30.72% 1-Year Est. Return
State Street
State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

Vanguard Group's BH Position: Q4 2025 in Review

Vanguard Group increased its Biglari Holdings Class B (BH) stake by 4.8% in Q4 2025, buying an estimated $614K and bringing the position to 39,931 shares worth $13.3M. The position accounts for ﹤0.01% of the portfolio, ranked #2816.

Vanguard Group first reported a position in BH in Q2 2013 and has held it in 51 quarters since. The position peaked at $52.8M in Q2 2015. 107 funds tracked by Wall St. Rank hold BH as of Q4 2025.

  • Vanguard Group held 39,931 shares of Biglari Holdings Class B worth $13.3M as of Q4 2025.
  • Vanguard Group bought 1,829 Biglari Holdings Class B shares in Q4 2025, an estimated $614K.
  • Biglari Holdings Class B made up ﹤0.01% of Vanguard Group's portfolio in Q4 2025, its #2816 holding.
  • Vanguard Group first reported a position in Biglari Holdings Class B in Q2 2013 and has held it in 51 quarters since.
  • Vanguard Group's Biglari Holdings Class B position peaked at $52.8M in Q2 2015.
  • 107 funds tracked by Wall St. Rank held Biglari Holdings Class B as of Q4 2025.

Based on Vanguard Group's 13F filing for Q4 2025, filed 29 Jan 2026.