Cracker Barrel Old Country Store, Inc. is a publicly traded U.S. restaurant-and-retail company best known for its Southern comfort food and country-store gift shops. Because it trades on the NASDAQ under ticker CBRL, there isn’t a single private “owner.”
Instead, ownership is divided among institutional investors, funds, and individual shareholders, with several large holders disclosed in recent SEC filings. The company’s leadership is headed by President & CEO Julie Felss Masino (appointed July 2023), which often leads people to confuse management with ownership.
Company Overview
Cracker Barrel was founded in 1969 by Dan Evins in Lebanon, Tennessee, initially pairing restaurants with gas pumps to serve interstate travelers. The brand grew nationally through the 1990s and 2000s and today operates 650+ locations across most U.S. states, pairing an all-day breakfast and Southern menu with a distinctive retail shop at the front of the store.
The company acquired Maple Street Biscuit Company in 2019 to diversify concepts. Julie Felss Masino became President & CEO in July 2023, bringing prior leadership experience at Taco Bell and other consumer brands. Headquarters remain in Lebanon, TN.
Ownership Status of Cracker Barrel
| Shareholder / Owner | Ownership Percentage | Notes |
|---|---|---|
| BlackRock, Inc. | 14.9% | Reported on Schedule 13G/A (event date Mar 31, 2025, filed Apr 30, 2025); identifies iShares Core S&P Small-Cap ETF as a >5% beneficial holder within the BlackRock complex. |
| GMT Capital Corp / Thomas E. Claugus | 12.73% | Reported on Schedule 13G/A (Aug 14–15, 2025), ~2.83M shares based on 22.27M shares outstanding. |
| The Vanguard Group, Inc. | ~11.56% | Based on latest 13F data referenced by MarketBeat (Q1 2025). (13F shows holdings rather than statutory “beneficial ownership,” so treat as approximate.) |
| AllianceBernstein L.P. | ~5.5% | Disclosed via Schedule 13G (Aug 13, 2025). |
| EARNEST Partners, LLC | ~5.5% | Disclosed via Schedule 13G/A (Aug 15, 2025). |
| Biglari group (Sardar Biglari & affiliates) | ~5.2% | Schedule 13D/A (May 29, 2025) shows an aggregate 1,150,000 shares (~5.2%) across Lion Fund II and Biglari-affiliated entities. |
| Other institutional & public shareholders | Remainder | Numerous funds and retail investors make up the balance; exact percentages fluctuate with market trading. (See CBRL holders pages and filings.) |
Because CBRL is public, percentages change over time as funds rebalance and investors file updated 13G/13D reports. When you need the most current split, always check the newest SEC filings and quarterly holder updates.
About the Owner’s
Cracker Barrel’s largest holders are major asset managers that own shares on behalf of index funds, ETFs, and client accounts—not operating companies that direct day-to-day strategy. BlackRock’s 14.9% stake is reported across its affiliated business units and includes a >5% position held by the iShares Core S&P Small-Cap ETF, which tracks an index that currently includes CBRL.
This means voting and dispositive power are exercised within the norms of a passive investment complex, as detailed in BlackRock’s 13G filing. Vanguard similarly appears as a top holder via its funds; its ~11.56% figure is drawn from 13F portfolio data for Q1 2025 and can shift with index flows and fund creations or redemptions.
A notable active shareholder is Sardar Biglari (chairman/CEO of Biglari Holdings and operator of Steak ’n Shake). Biglari has engaged with the company for more than a decade through letters and proxy contests. In May 2025, his group reported ~5.2% beneficial ownership on Schedule 13D/A, down from earlier years when his stake was commonly cited around ~9–10%; filings and financial-press coverage show that level has decreased in 2025. Biglari continues to comment on strategy, capital allocation, and brand decisions, keeping investor attention focused on governance and long-term returns.
Another major holder, GMT Capital (Thomas E. Claugus), disclosed 12.73% in August 2025, making it one of the most significant positions reported this year. AllianceBernstein and EARNEST Partners each disclosed ~5.5% stakes in mid-August 2025. Together, these investors illustrate how the ownership base tilts institutional, with a handful of active managers able to influence engagement even as passive ownership remains sizable.
Ownership headlines in 2025 have been unusually active. On April 30, 2025, BlackRock filed an updated 13G/A showing 14.9% beneficial ownership, reflecting flows across its investment products. In May 2025, Biglari filed an Amendment No. 58 to Schedule 13D, reporting an aggregate ~5.2% position, a reduction versus the ~9.3% often cited in 2024 letters.
Recent Developments in Ownership
In August 2025, GMT Capital disclosed 12.73% on 13G/A, while AllianceBernstein and EARNEST Partners each reported ~5.5%. Parallel to these filings, public scrutiny of brand and capital decisions (including a logo change and reversal) has stoked a new round of investor commentary and media coverage, underscoring how public ownership invites ongoing engagement from shareholders with different mandates—passive indexers, active managers, and activists.
FAQs
1. Who is the current owner of Cracker Barrel?
There is no single owner. Cracker Barrel (NASDAQ: CBRL) is publicly held. As of recent filings, major shareholders include BlackRock (14.9%), GMT Capital (~12.7%), Vanguard (~11.6%), AllianceBernstein (~5.5%), EARNEST Partners (~5.5%), and the Biglari group (~5.2%), with the rest owned by other institutions and individuals. Percentages change as filings update.
2. Is Cracker Barrel publicly traded or privately owned?
It is publicly traded on the NASDAQ under ticker CBRL, which means ownership is spread across institutional and retail investors, not one private parent.
3. Who is the founder of Cracker Barrel?
Dan Evins founded Cracker Barrel in 1969 in Lebanon, Tennessee.
4. Has the ownership changed recently?
Yes—ownership mix has shifted in 2025 via new or amended SEC filings: BlackRock updated to 14.9% (Apr 30), Biglari’s group reported ~5.2% (May 29), and GMT Capital disclosed ~12.7% (Aug 14–15). AllianceBernstein and EARNEST Partners each reported ~5.5% in mid-August. None of these represents a controlling owner; they reflect the ebb and flow of stakes in a public company.
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