Biglari Holdings, Inc. (NYSE: BH.A) is a publicly traded diversified holding company headquartered in San Antonio, Texas. Originally founded in 2008 as United States Steak Company, the firm rebranded to Biglari Holdings in 2013 to reflect its expanding investment focus. Under the leadership of founder, Chairman and CEO Sardar Biglari, the company pursues value-oriented acquisitions and portfolio management across multiple industries.
In the restaurant sector, Biglari Holdings operates two established casual-dining chains. Steak n Shake, acquired in 2008, features a full-service diner model with a menu centered on burgers, fries and milkshakes at over 500 locations across the United States. Western Sizzlin, brought into the portfolio in 2009, offers family-style steakhouse dining at outlets primarily concentrated in the southeastern and midwestern U.S.
Beyond restaurants, Biglari Holdings owns and publishes Maxim, an international men’s lifestyle magazine known for its features on entertainment, sports, fashion and culture. The company also maintains an actively managed investment portfolio comprising equity and fixed-income securities, seeking long-term capital appreciation through strategic market positions and selective corporate stakes.
Under Sardar Biglari’s stewardship, the company emphasizes decentralized operating models and performance incentives for subsidiary management teams. With a focus on free cash flow generation, disciplined capital allocation and opportunistic acquisitions, Biglari Holdings aims to build sustainable value for shareholders through its diversified business mix.
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