Biglari Holdings Class ABH.A
About: Biglari Holdings Inc is a holding company that owns subsidiaries in a range of businesses. The company's reportable segments include Restaurant Operations, Insurance Operations, Oil and Gas Operations. Company's restaurant operations include Steak n Shake and Western Sizzlin. Its insurance operations include First Guard, Southern Pioneer, and Biglari Reinsurance. Oil and gas operations include Southern Oil and Abraxas Petroleum. The Company also reports segment information for Maxim. The majority of revenue is derived from the Maxim Segment.
Employees: 2,535
Fund manager confidence
Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)
75% more repeat investments, than reductions
Existing positions increased: 7 | Existing positions reduced: 4
0.17% more ownership
Funds ownership: 86.71% [Q4 2024] → 86.88% (+0.17%) [Q1 2025]
0% more funds holding in top 10
Funds holding in top 10: 1 [Q4 2024] → 1 (+0) [Q1 2025]
8% less funds holding
Funds holding: 24 [Q4 2024] → 22 (-2) [Q1 2025]
14% less capital invested
Capital invested by funds: $232M [Q4 2024] → $201M (-$31.5M) [Q1 2025]
67% less first-time investments, than exits
New positions opened: 1 | Existing positions closed: 3
Research analyst outlook
We haven’t received any recent analyst ratings for BH.A.
Financial journalist opinion





