Every Form 4 that Biglari Holdings Inc. (BH) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A Form 4 covers the transactions officers, directors and large holders report, so if you follow BH and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BH filings page.
Biglari Holdings Inc. insider entities associated with Chairman and CEO Sardar Biglari reported open-market purchases of Class B common stock. The Lion Fund, L.P. bought 1,743 shares on June 4 at a weighted average price of $286.76 per share and 535 shares on June 5 at a weighted average price of $297.14 per share. After these purchases, The Lion Fund, L.P. is shown holding 1,400,382 Class B shares. Additional indirect holdings through Biglari Capital Corp. and small direct positions in both Class A and Class B shares are also reported, highlighting that most exposure is held via investment entities rather than directly in Mr. Biglari’s name.
Biglari Holdings Inc. reported that entities affiliated with Chairman and CEO Sardar Biglari made open-market purchases of Class B common stock. Through The Lion Fund, L.P., they bought a total of 52,674 Class B shares on May 12–14 at weighted average prices reported as $249.84, $260.36 and $258.06 per share.
After these trades, The Lion Fund, L.P. is shown holding 1,398,104 Class B shares and 128,811.7 Class A shares indirectly. Biglari Capital Corp. is shown holding 71,855 Class B shares and 25,663.1 Class A shares indirectly, while Sardar Biglari also holds small direct positions in both classes. The filing notes that Mr. Biglari and Biglari Capital Corp. may be deemed to beneficially own the Lion Fund’s holdings.
Biglari Holdings Inc. reported an insider open-market purchase of its Class B common stock. On March 13, 2026, The Lion Fund, L.P. purchased 2,810 shares of Class B common stock at a weighted average price of $302.20 per share, held indirectly. Following this transaction, The Lion Fund, L.P. holds 1,345,430 Class B shares. Related footnotes state that Biglari Capital Corp. is the general partner of The Lion Fund and that Sardar Biglari may be deemed a beneficial owner through his control of Biglari Capital Corp.
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.
Biglari Holdings Inc. reported an insider purchase linked to Chairman and CEO Sardar Biglari through affiliated entities. On March 6, 2026, The Lion Fund, L.P. bought 2,441 shares of Biglari Holdings Class B common stock in an open-market transaction at a weighted average price of $307.20 per share. The Lion Fund’s post-transaction balance was 1,339,300 Class B shares and 128,811.7 Class A shares, while Biglari Capital Corp. held 25,663.1 Class A and 71,855 Class B shares, and Mr. Biglari held small direct positions in both classes.
Biglari Holdings Inc. insider entities reported an open-market purchase of Class B common stock. On March 3, 2026, The Lion Fund, L.P. bought 1,146 Class B shares at a weighted average price of $331.15 per share. The shares are owned directly by The Lion Fund, with Biglari Capital Corp. and Chairman and CEO Sardar Biglari potentially deemed beneficial owners through their control relationships.
Biglari Holdings Inc. chair and CEO Sardar Biglari, together with Biglari Capital Corp. and The Lion Fund, L.P., reported purchases of the company’s Class A and Class B common stock.
Through The Lion Fund, they bought 3,084 shares of Class B common stock at a weighted average price of $323.71 and 368 shares of Class A common stock at a weighted average price of $1,633.52 on 12/17/2025, with each group of shares acquired in multiple transactions within stated price ranges. After these transactions, The Lion Fund beneficially owned 1,335,713 shares of Class B and 128,811.7 shares of Class A, while Biglari Capital Corp. held 71,855 shares of Class B and 25,663.1 shares of Class A. The reporting persons state they may be deemed beneficial owners of these shares but disclaim beneficial ownership beyond their pecuniary interests.
Biglari Holdings Inc. insider Sardar Biglari reported several open-market purchases of the company’s Class A and Class B common stock through The Lion Fund, L.P. on 12/12/2025, 12/15/2025 and 12/16/2025.
The Lion Fund bought 449 and 152 Class B shares at weighted average prices of $333.14 and $328.00, and 60 and 156 Class A shares at weighted average prices of $1,635.37 and $1,599.87. After these transactions, it beneficially owned 1,332,629 Class B shares and 128,443.7 Class A shares. Biglari Capital Corp. held an additional 71,855 Class B shares and 25,663.1 Class A shares. The report is filed jointly by Mr. Biglari, Biglari Capital Corp. and The Lion Fund, each of which disclaims beneficial ownership beyond its pecuniary interest.
Biglari Holdings Inc. insider entities reported additional purchases of the company’s Class B common stock. A joint filing by Sardar Biglari, Biglari Capital Corp. and The Lion Fund, L.P. shows that The Lion Fund bought 973 Class B shares on 12/08/2025 at a weighted average price of $315.08, 938 shares on 12/09/2025 at a weighted average price of $319.08, and 310 shares on 12/10/2025 at a weighted average price of $321.94.
After these transactions, The Lion Fund is shown as indirectly holding over 1.33 million Class B shares. The filing notes that the reported prices reflect weighted averages for multiple trades within stated intraday price ranges, and the reporting persons undertake to provide full trade details upon request. Sardar Biglari is identified as a director, Chairman and Chief Executive Officer of Biglari Holdings and a 10% owner, and the filing explains his indirect beneficial ownership through Biglari Capital Corp. and The Lion Fund, subject to standard beneficial ownership disclaimers.
Biglari Holdings Inc. reported insider purchases of its Class B common stock by entities affiliated with Chairman and CEO Sardar Biglari. On 12/03/2025, The Lion Fund, L.P. bought 2,802 Class B shares at a weighted average price of $ 303.32. On 12/04/2025 it bought 1,139 shares at $ 306.05, and on 12/05/2025 it bought 1,465 shares at $ 306.9.
After these transactions, The Lion Fund, L.P. is shown as beneficially owning 1,329,807 Class B shares. Other reported holdings include Class A common stock of 25,663.1 shares indirectly through Biglari Capital Corp. and 128,227.7 shares indirectly through The Lion Fund, L.P., plus 71,855 Class B shares indirectly through Biglari Capital Corp. The form is filed jointly by Sardar Biglari, Biglari Capital Corp. and The Lion Fund, L.P., who may be deemed to share beneficial ownership based on their control relationships.
Biglari Holdings Inc. (BH) reported insider-related purchases of both Class A and Class B common stock. On 11/24/2025, The Lion Fund, L.P., which is indirectly controlled by Chairman and CEO Sardar Biglari, bought 213 shares of Class A at a weighted average price of $1,406.27 and 1,819 shares of Class B at a weighted average price of $274.74.
After these trades, The Lion Fund, L.P. beneficially owned 128,227.7 shares of Class A and 1,324,401 shares of Class B. Biglari Capital Corp., another entity controlled by Mr. Biglari, held 25,663.1 shares of Class A and 71,855 shares of Class B. The Form 4 is filed jointly by Mr. Biglari, Biglari Capital Corp., and The Lion Fund, L.P., and each disclaims beneficial ownership beyond his or its pecuniary interest.