Insider fund tied to Biglari Holdings (NYSE: BH) buys 3,320 Class B shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Biglari Holdings Inc. reported an insider-related open-market purchase by an affiliated investment fund. On 2026-03-09, The Lion Fund, L.P. bought 3,320 shares of Biglari Holdings Class B common stock at a weighted average price of $301.06 per share, giving it 1,342,620 Class B shares afterward. The Lion Fund, whose general partner is Biglari Capital Corp., also indirectly holds 128,811.7 Class A shares. Biglari Capital Corp. indirectly holds 71,855 Class B and 25,663.1 Class A shares, while Sardar Biglari directly holds 1 Class B share and 0.1 Class A share.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 3,320 shares ($999,519)
Net Buy
6 txns
Insider
BIGLARI, SARDAR, BIGLARI CAPITAL CORP., LION FUND, L.P.
Role
Chairman and CEO | 10% Owner | 10% Owner
Bought
3,320 shs ($1000K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Class B common stock | 3,320 | $301.06 | $1000K |
| holding | Class A common stock | -- | -- | -- |
| holding | Class A common stock | -- | -- | -- |
| holding | Class A common stock | -- | -- | -- |
| holding | Class B common stock | -- | -- | -- |
| holding | Class B common stock | -- | -- | -- |
Holdings After Transaction:
Class B common stock — 1,342,620 shares (Indirect, By The Lion Fund, L.P.);
Class A common stock — 128,811.7 shares (Indirect, By The Lion Fund, L.P.);
Class A common stock — 0.1 shares (Direct);
Class B common stock — 1 shares (Direct)
Footnotes (1)
- Shares owned directly by Biglari Capital Corp. ("BCC"), including shares of Class A and Class B common stock of the Issuer transferred for no consideration by Sardar Biglari to BCC. Mr. Biglari may be deemed a beneficial owner of the shares of Class A and Class B common stock of the Issuer owned directly by BCC. Shares owned directly by The Lion Fund, L.P. (the "Lion Fund"). BCC is the general partner of the Lion Fund. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $295.32 to $308.91. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
FAQ
What insider transaction did Biglari Holdings (BH) disclose in this Form 4?
Biglari Holdings disclosed that The Lion Fund, L.P. purchased 3,320 shares of its Class B common stock in an open-market transaction at a weighted average price of $301.06 per share, increasing the fund’s indirect ownership stake in the company.
What are Biglari Capital Corp.’s indirect holdings in Biglari Holdings (BH)?
Biglari Capital Corp. directly owns shares and also serves as general partner of The Lion Fund. It owns 71,855 Class B and 25,663.1 Class A Biglari Holdings shares directly, and may be deemed to beneficially own additional shares held by The Lion Fund, according to the relationships described.
What direct Biglari Holdings (BH) stake does Sardar Biglari personally hold?
Sardar Biglari directly owns 1 share of Class B common stock and 0.1 share of Class A common stock of Biglari Holdings. Additional beneficial ownership may be attributed to him through Biglari Capital Corp. and The Lion Fund, as outlined in the relationships described in the filing.