BH SCHEDULE 13D/A: Activist campaign
Lion Fund, L.P., controlled by Sardar Biglari
Filed with the SEC on · accession 0000921895-26-003048
BH filed a SCHEDULE 13D/A (schedule 13d/a) with the SEC on Nov 13, 2026. Lion Fund, L.P., controlled by Sardar Biglari, filed an amended Schedule 13D disclosing additional open-market purchases of 3,826 shares of Biglari Holdings Class A Common Stock for approximately $6.56 million, increasing the reporting persons' beneficial ownership to approximately 72.1% of shares… The stock moved -0.0% by the first close after the filing.
Summary of the filing
Lion Fund, L.P., controlled by Sardar Biglari, filed an amended Schedule 13D disclosing additional open-market purchases of 3,826 shares of Biglari Holdings Class A Common Stock for approximately $6.56 million, increasing the reporting persons' beneficial ownership to approximately 72.1% of shares outstanding.
Key details
How BH stock reacted
Close before
$362.31
Nov 12, 2026
First close after
-0.01%
$362.27
5 trading days
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Since filing
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Click hereFrequently asked questions
What did BH file with the SEC on Nov 13, 2026?
BH filed a SCHEDULE 13D/A (Activist campaign). Lion Fund, L.P., controlled by Sardar Biglari, filed an amended Schedule 13D disclosing additional open-market purchases of 3,826 shares of Biglari Holdings Class A Common Stock for approximately $6.56 million, increasing the reporting persons' beneficial ownership to approximately 72.1% of shares outstanding.
What does a activist campaign mean for BH stock?
A settlement removes uncertainty; the stock often reacts to whether the amount is bigger or smaller than investors expected.
How do I read a SCHEDULE 13D/A?
A report the company filed with the SEC (the US market regulator). Start with the summary, then the key amounts and names. Compare it with the company’s earlier filings.
Why are SEC filings important?
Public companies must tell the SEC about anything that can change their value — results, leadership changes, big deals, new shares, bankruptcy. Filings are the official source, often before the news. A SCHEDULE 13D/A (schedule 13d/a): A report the company filed with the SEC (the US market regulator).
How did BH stock react to this filing?
BH closed at $362.31 before the filing and $362.27 on Nov 13, 2026 (-0.01%).
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