• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
PublishDashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees
    Legal
    Terms of usePrivacy policyCookie policy

    SEC Form SC 13D/A filed by Biglari Holdings Inc. (Amendment)

    6/13/22 5:09:20 PM ET
    $BH
    Restaurants
    Consumer Discretionary
    Get the next $BH alert in real time by email
    SC 13D/A 1 sc13da4608106003_06132022.htm AMENDMENT NO. 46 TO THE SCHEDULE 13D

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

    SCHEDULE 13D

    (Rule 13d-101)

    INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

    TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO

    § 240.13d-2(a)

    (Amendment No. 46)1

    Biglari Holdings Inc.

    (Name of Issuer)

    Class A Common Stock, No Par Value

    (Title of Class of Securities)

    08986R408

    (CUSIP Number)

     

    Sardar Biglari

    Biglari Capital Corp.

    17802 IH 10 West, Suite 400

    San Antonio, Texas 78257

    (210) 344-3400

    (Name, Address and Telephone Number of Person

    Authorized to Receive Notices and Communications)

     

    June 8, 2022

    (Date of Event Which Requires Filing of This Statement)

     

    If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ¨.

    Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See § 240.13d-7 for other parties to whom copies are to be sent.

     

     

     

    1              The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

    The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

     

    CUSIP No. 08986R408

      1   NAME OF REPORTING PERSON  
             
            Sardar Biglari  
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
            PF, AF, OO  
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
            USA  
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY         145,699.9  
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING         -0-  
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              145,699.9  
        10   SHARED DISPOSITIVE POWER  
               
              -0-  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
            145,699.9  
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
            70.4%  
      14   TYPE OF REPORTING PERSON  
             
            IN  

      

    2

    CUSIP No. 08986R408

      1   NAME OF REPORTING PERSON  
             
            The Lion Fund, L.P. (the “Lion Fund”)  
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
            WC, AF, OO  
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
            Delaware  
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY         120,036.7  
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING         -0-  
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              120,036.7  
        10   SHARED DISPOSITIVE POWER  
               
              -0-  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
            120,036.7  
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
            58.0%  
      14   TYPE OF REPORTING PERSON  
             
            PN  

      

    3

    CUSIP No. 08986R408

     

      1   NAME OF REPORTING PERSON  
             
            The Lion Fund II, L.P. (the “Lion Fund II”)  
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
            (b) ☒
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
             
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
            Delaware  
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY         -0-  
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING         -0-  
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              -0-  
        10   SHARED DISPOSITIVE POWER  
               
              -0-  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
            -0-  
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
            0.0%  
      14   TYPE OF REPORTING PERSON  
             
            PN  

      

    4

    CUSIP No. 08986R408

     

      1   NAME OF REPORTING PERSON  
             
            Biglari Capital Corp. (“BCC”)  
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
            AF, OO  
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
            Texas  
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY         145,699.8  
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING         -0-  
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              145,699.8  
        10   SHARED DISPOSITIVE POWER  
               
              -0-  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
            145,699.8  
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
            70.4%  
      14   TYPE OF REPORTING PERSON  
             
            OO  

      

    5

    CUSIP No. 08986R408

     

    The following constitutes Amendment No. 46 to the Schedule 13D filed by the undersigned (“Amendment No. 46”). This Amendment No. 46 amends the Schedule 13D as specifically set forth herein.

    Item 2.Identity and Background.

    Item 2 is hereby amended to add the following:

    In connection with the transfer of Shares from the Lion Fund II to the Lion Fund, as set forth in Schedule A attached hereto, the Lion Fund II no longer beneficially owns any Shares and shall cease to be a Reporting Person immediately upon the filing of this Amendment No. 46 to the Schedule 13D. The remaining Reporting Persons will continue filing statements on Schedule 13D with respect to their beneficial ownership of securities of the Issuer to the extent required by applicable law. Each of the remaining Reporting Persons is a party to the Joint Filing Agreement, as further described in Item 6.

    Item 3.Source and Amount of Funds or Other Consideration.

    Item 3 is hereby amended and supplemented as follows:

    Subsequent to filing Amendment No. 45 to the Schedule 13D, the Lion Fund II acquired an aggregate of 1,889 Shares for an aggregate cost of $1,584,786. The Shares purchased by the Lion Fund II were purchased with its working capital in open market purchases. On June 8, 2022, the Lion Fund II transferred the 83,465 Shares beneficially owned by it to the Lion Fund, as set forth on Schedule A.

    Item 5.Interest in Securities of the Issuer.

    Items 5(a)-(c) are hereby amended and restated to read as follows:

    The aggregate percentage of Shares reported owned by the Reporting Persons is based upon 206,864 Shares outstanding, which is the total number of Shares outstanding as of May 3, 2022, as reported in the Issuer’s quarterly report on Form 10-Q filed with the Securities and Exchange Commission on May 6, 2022.

    As of the close of business on June 13, 2022, (i) the Lion Fund owned directly 120,036.7 Shares, constituting approximately 58.0% of the Shares outstanding; (ii) the Lion Fund II owned directly 0 Shares, constituting 0.0% of the Shares outstanding; (iii) BCC owned directly 25,663.1 Shares, and by virtue of its relationship with the Lion Fund, BCC may be deemed to beneficially own the 120,036.7 Shares owned directly by the Lion Fund, constituting approximately 70.4% of the Shares outstanding; and (iv) Mr. Biglari owned directly 0.1 Share, and by virtue of his relationship with the other Reporting Persons, Mr. Biglari may be deemed to beneficially own, and have the sole power to vote and dispose of, the 120,036.7 Shares owned directly by the Lion Fund and the 25,663.1 Shares owned directly by BCC, constituting approximately 70.4% of the Shares outstanding.

    Schedule A annexed hereto lists all transactions in securities of the Issuer by the Reporting Persons during the past sixty days.

    The filing of this Schedule 13D shall not be deemed an admission that any of the Reporting Persons is, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owner of any Shares he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the Shares reported herein that he or it does not directly own.

    6

    CUSIP No. 08986R408

    Item 6.Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.

    Item 6 is hereby amended to add the following:

    On June 13, 2022, the Reporting Persons who will remain Reporting Persons subsequent to the filing of this Amendment No. 46 to the Schedule 13D entered into a Joint Filing Agreement in which they agreed to the joint filing on behalf of each of them of statements on Schedule 13D with respect to the securities of the Issuer to the extent required by applicable law. A copy of the Joint Filing Agreement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

    Item 7.Material to be Filed as Exhibits.

    Item 7 is hereby amended to add the following exhibit:

    99.1Joint Filing Agreement, dated June 13, 2022.

     

    7

    CUSIP No. 08986R408

    SIGNATURE

    After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

     

    June 13, 2022

      (Date)
       
      THE LION FUND, L.P.
       
      By: BIGLARI CAPITAL CORP., its General Partner
         
      By:

    /s/ Sardar Biglari

        Name: Sardar Biglari
        Title: Chairman and Chief Executive Officer
       
       
      THE LION FUND II, L.P.
       
      By: BIGLARI CAPITAL CORP., its General Partner
         
      By:

    /s/ Sardar Biglari

        Name: Sardar Biglari
        Title: Chairman and Chief Executive Officer
       
       
      BIGLARI CAPITAL CORP.
       
      By:

    /s/ Sardar Biglari

        Name: Sardar Biglari
        Title: Chairman and Chief Executive Officer
       
       
     

    /s/ Sardar Biglari

      SARDAR BIGLARI

     

    8

    CUSIP No. 08986R408

    SCHEDULE A

    Transactions in Shares in the Past Sixty Days

    Nature of the Transaction

    Securities

    Purchased/(Sold)

    Price Per

    Share($)

    Date of

    Purchase / Sale

     

    THE LION FUND II, L.P.

     

    Disposition of Class A Common Stock1 (83,465) 0.00 06/08/2022

     

    THE LION FUND, L.P.

     

    Acquisition of Class A Common Stock1 83,465 0.00 06/08/2022

     

    1 Represents a transfer of shares of Class A Common Stock from The Lion Fund II, L.P. to The Lion Fund, L.P. in consideration of the issuance of limited partner interests.

      

    Get the next $BH alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $BH

    DatePrice TargetRatingAnalyst
    More analyst ratings

    $BH
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Biglari Holdings Inc. News Release

      San Antonio, TX, May 9, 2025 /PRNewswire/ -- Biglari Holdings Inc. (NYSE:BH, BH)) announces its results for the first quarter of 2025. Biglari Holdings Inc.'s earnings for the first quarter of 2025 and 2024 are summarized below.  To become fully apprised of our results, shareholders should carefully study our 10-Q, which has been posted at www.biglariholdings.com. (dollars in thousands) First Quarter 2025 2024 Pre-tax operating earnings $             9,994 $           5,697 Investment gains (losses) (51,177) 23,698 Income taxes 7,908 (6,816) Net earnings (loss) $         (33,275) $         22,579 Analysis of Results: Investments affect our reported quarterly earnings based on their carrying

      5/9/25 4:07:00 PM ET
      $BH
      Restaurants
      Consumer Discretionary
    • BIGLARI HOLDINGS INC. NEWS RELEASE

      San Antonio, TX, March 1, 2025 /PRNewswire/ -- Biglari Holdings Inc.'s (NYSE:BH, BH)) 2024 Annual Report to the shareholders has been posted on the Internet, where it can be accessed at www.biglariholdings.com. The report includes Sardar Biglari's annual letter to shareholders. Biglari Holdings Inc.'s earnings for the fourth quarter and full year of 2024 and 2023 are summarized below.  To become fully apprised of our results, shareholders should carefully study our 10-K, which has been posted at www.biglariholdings.com.  (dollars in thousands) Fourth Quarter Year Ended December 31, 2024 2023 2024 2023 Pre-tax operating earnings................................................................

      3/1/25 8:33:00 AM ET
      $BH
      Restaurants
      Consumer Discretionary
    • Biglari Holdings Inc. News Release

      SAN ANTONIO, TX, Jan. 9, 2025 /PRNewswire/ -- Biglari Holdings (NYSE:BH, BH)) announced today its 2025 Annual Shareholders Meeting will be held at the Majestic Theatre in San Antonio on Wednesday, April 16, 2025, at 1:00 p.m. Central Time. About Biglari Holdings Inc. Biglari Holdings Inc. is a holding company owning subsidiaries engaged in a number of diverse business activities, including property and casualty insurance, licensing and media, restaurants, and oil and gas. View original content:https://www.prnewswire.com/news-releases/biglari-holdings-inc-news-release-302347451.html SOURCE Biglari Holdings Inc.

      1/9/25 4:05:00 PM ET
      $BH
      Restaurants
      Consumer Discretionary

    $BH
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Chairman and CEO Biglari, Sardar bought $852,732 worth of shares (682 units at $1,250.34) and bought $646,085 worth of Class B common stock (2,589 units at $249.55) (SEC Form 4)

      4 - Biglari Holdings Inc. (0001726173) (Issuer)

      12/19/24 8:09:31 PM ET
      $BH
      Restaurants
      Consumer Discretionary
    • Chairman and CEO Biglari, Sardar bought $480,175 worth of shares (408 units at $1,176.90) and bought $250,621 worth of Class B common stock (1,070 units at $234.23) (SEC Form 4)

      4 - Biglari Holdings Inc. (0001726173) (Issuer)

      12/16/24 9:30:05 PM ET
      $BH
      Restaurants
      Consumer Discretionary
    • Chairman and CEO Biglari, Sardar bought $495,094 worth of Class B common stock (2,167 units at $228.47) (SEC Form 4)

      4 - Biglari Holdings Inc. (0001726173) (Issuer)

      12/9/24 7:13:42 PM ET
      $BH
      Restaurants
      Consumer Discretionary

    $BH
    SEC Filings

    See more
    • Biglari Holdings Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

      8-K - Biglari Holdings Inc. (0001726173) (Filer)

      5/9/25 4:10:15 PM ET
      $BH
      Restaurants
      Consumer Discretionary
    • SEC Form 10-Q filed by Biglari Holdings Inc.

      10-Q - Biglari Holdings Inc. (0001726173) (Filer)

      5/9/25 4:09:37 PM ET
      $BH
      Restaurants
      Consumer Discretionary
    • Biglari Holdings Inc. filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders

      8-K - Biglari Holdings Inc. (0001726173) (Filer)

      4/17/25 4:16:44 PM ET
      $BH
      Restaurants
      Consumer Discretionary

    $BH
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13D/A filed by Biglari Holdings Inc.

      SC 13D/A - Biglari Holdings Inc. (0001726173) (Subject)

      11/15/24 8:29:56 PM ET
      $BH
      Restaurants
      Consumer Discretionary
    • SEC Form SC 13D/A filed by Biglari Holdings Inc. (Amendment)

      SC 13D/A - Biglari Holdings Inc. (0001726173) (Subject)

      3/28/24 8:21:26 PM ET
      $BH
      Restaurants
      Consumer Discretionary
    • SEC Form SC 13G/A filed by Biglari Holdings Inc. (Amendment)

      SC 13G/A - Biglari Holdings Inc. (0001726173) (Filed by)

      2/14/24 11:22:57 AM ET
      $BH
      Restaurants
      Consumer Discretionary

    $BH
    Leadership Updates

    Live Leadership Updates

    See more
    • CRACKER BARREL AND BIGLARI ANNOUNCE APPOINTMENT OF BIGLARI NOMINEE AND COOPERATION AGREEMENT

      Jody L. Bilney Joins Cracker Barrel Board of Directors LEBANON, Tenn. and SAN ANTONIO, Texas, Sept. 28, 2022 /PRNewswire/ -- Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) ("Cracker Barrel" or the "Company") and Biglari Capital Corp., together with other affiliated entities including Biglari Holdings Inc. (NYSE:BH, BH))) (collectively, "Biglari"), announced that they have entered into a Nomination and Cooperation Agreement (the "Agreement"). Under the terms of the Agreement, the Company has expanded the Company's Board to eleven directors and appointed Jody L. Bilney, one of Biglari's nominees, as a director, effective immediately.  Ms. Bilney currently serves on the boards of director

      9/28/22 4:00:00 PM ET
      $BH
      $CBRL
      Restaurants
      Consumer Discretionary

    $BH
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Chairman and CEO Biglari, Sardar bought $852,732 worth of shares (682 units at $1,250.34) and bought $646,085 worth of Class B common stock (2,589 units at $249.55) (SEC Form 4)

      4 - Biglari Holdings Inc. (0001726173) (Issuer)

      12/19/24 8:09:31 PM ET
      $BH
      Restaurants
      Consumer Discretionary
    • Chairman and CEO Biglari, Sardar bought $480,175 worth of shares (408 units at $1,176.90) and bought $250,621 worth of Class B common stock (1,070 units at $234.23) (SEC Form 4)

      4 - Biglari Holdings Inc. (0001726173) (Issuer)

      12/16/24 9:30:05 PM ET
      $BH
      Restaurants
      Consumer Discretionary
    • Chairman and CEO Biglari, Sardar bought $495,094 worth of Class B common stock (2,167 units at $228.47) (SEC Form 4)

      4 - Biglari Holdings Inc. (0001726173) (Issuer)

      12/9/24 7:13:42 PM ET
      $BH
      Restaurants
      Consumer Discretionary

    $BH
    Financials

    Live finance-specific insights

    See more
    • AM Best Affirms Credit Ratings of First Guard Insurance Company

      AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a+" (Excellent) of First Guard Insurance Company (First Guard) (Scottsdale, AZ). The outlook of these Credit Ratings (ratings) is stable. First Guard is a subsidiary of Biglari Holdings Inc. (NYSE:BH). The ratings reflect First Guard's balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. The stable outlooks reflect AM Best's expectation that First Guard will maintain its very strong overall balance sheet strength assessment, supported by risk-adjusted capi

      2/16/24 12:30:00 PM ET
      $BH
      Restaurants
      Consumer Discretionary
    • AM Best Affirms Credit Ratings of First Guard Insurance Company

      AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a+" (Excellent) of First Guard Insurance Company (First Guard) (Scottsdale, AZ). The outlook of these Credit Ratings (ratings) is stable. First Guard is a subsidiary of Biglari Holdings Inc. (NYSE:BH). The ratings reflect First Guard's balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM). The stable outlooks reflect AM Best's expectation that the group will maintain its very strong overall balance sheet strength assessment, supported by risk-adjusted ca

      2/16/23 10:15:00 AM ET
      $BH
      Restaurants
      Consumer Discretionary