Barclays PLC filed a Schedule 13G with the SEC on November 6, 2026, disclosing beneficial ownership of 108,962 shares of Biglari Holdings Inc. Class B common stock as of September 30, 2026.

Key Highlights

  • Reporting person: Barclays PLC, organized in the United Kingdom, filed as a parent holding company (type: HC).
  • Shares beneficially owned: 108,962 shares of Biglari Holdings Inc-B common stock (CUSIP 08986R309), representing 5.15% of the class.
  • Voting and dispositive power: The filing reports 0 shares with sole or shared voting power and 0 shares with sole or shared dispositive power.
  • Relevant subsidiaries: The filing identifies Barclays Bank PLC, Barclays Capital Inc., and Barclays Capital Securities Ltd. as the subsidiaries through which the position is held.
  • Event date: The date of event requiring the filing is stated as September 30, 2026.
  • Ordinary course certification: Barclays PLC certified that the securities "were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer."

Barclays PLC Crosses 5% Threshold in Biglari Holdings Class B Shares

Barclays PLC, a holding company organized in the United Kingdom with a principal business address at 1 Churchill Place, London E14 5HP, disclosed in a Schedule 13G that it beneficially owned 108,962 shares of Biglari Holdings Inc-B common stock as of September 30, 2026. The filing was signed by Ramya Rao, Director, on November 6, 2026. According to the filing, the aggregate position represents 5.15% of the class.

The filing reports that Barclays PLC held zero shares with either sole or shared voting power, and zero shares with either sole or shared dispositive power, despite reporting 108,962 shares as the aggregate amount beneficially owned. The filing identifies three subsidiaries - Barclays Bank PLC, Barclays Capital Inc., and Barclays Capital Securities Ltd. - as the entities through which the reported securities were acquired. The filing does not specify the allocation of shares among those subsidiaries.

Biglari Holdings Inc. is listed as having its principal executive offices at 19100 Ridgewood Parkway, Suite 1200, TX, 78259, according to the filing. Items 5, 6, 8, and 9 of the Schedule 13G - covering ownership of 5% or less, ownership on behalf of another person, group membership, and group dissolution - are each listed as "Not Applicable" in the filing.

What Was Disclosed

Barclays PLC filed a Schedule 13G reporting beneficial ownership of 108,962 shares, or 5.15%, of Biglari Holdings Inc-B common stock as of September 30, 2026, through subsidiaries Barclays Bank PLC, Barclays Capital Inc., and Barclays Capital Securities Ltd.