WAVEMAN · COMPANY

BH-A · Biglari Holdings Inc.

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TEAM-2.62% 13F +440META+1.00% 13F +2,694RCG+0.35% CLUSTERUTHR-0.54% 13F +425CRWV+5.68% 13F +694CRM-1.97% 13F +1,019CVNA+1.58% 13F +795TPL-1.11% 13F +444NET-1.96% 13F +711MSTR-1.39% 13F +527DELL+1.50% 13F +1,204CRWD-0.87% 13F +1,383ANET+1.22% 13F +1,324COIN-4.18% 13F +475TEAM-2.62% 13F +440META+1.00% 13F +2,694RCG+0.35% CLUSTERUTHR-0.54% 13F +425CRWV+5.68% 13F +694CRM-1.97% 13F +1,019CVNA+1.58% 13F +795TPL-1.11% 13F +444NET-1.96% 13F +711MSTR-1.39% 13F +527DELL+1.50% 13F +1,204CRWD-0.87% 13F +1,383ANET+1.22% 13F +1,324COIN-4.18% 13F +475

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BH-A

Name: Biglari Holdings Inc. (BH-A) insider trading and ownership data
Creator: WaveMan
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Biglari Holdings Inc.

RESTAURANTS & LEISURE · RETAIL-EATING PLACES · CIK 0001726173

SEC FILINGS☆ WATCH

INSIDER NET · 180D

open-market buys minus sells, Form 4 codes P and S

INSIDER BUYERS · 180D

CONGRESS BUYERS · 1Y

FUNDS ADDED · QTR

13F, latest reported quarter

REVENUE GROWTH

+9.2%

XBRL, annual

NET MARGIN

-9.5%

SEVEN FACTS, RANKED AGAINST THE SECTOR · RANK IS NOT A FORECAST

INSIDERS

no Form 4 purchases or sales on file

CONGRESS

no member of Congress has reported trading it

FUNDS

74 funds added or opened last quarter

below 64% of Restaurants & Leisure

REVENUE

+9.2% year over year

more than 67% of Restaurants & Leisure

MARGIN

-9.5% net margin

below 72% of Restaurants & Leisure

BUYBACKS

no share repurchases reported

SHORT

no short interest reported

THE SITUATION · EVERY LINE IS ONE RULE OVER ONE DATASET

74 funds added or opened positions in the latest 13F quarter, of 133 holders.

Live price

Daily candles from TradingView, on their licence — no filings are marked on this one

WHY THIS NAME IS ON THE DESK

The complete filing record, in one place.

The record shows 74 funds added last quarter. Every figure is a federal filing, dated the day it became public.

Backtest this pattern Open the screener

Same sector, ranked by filing activity

Sector from the SEC's own SIC classification

BROS TKO DKNG CMG SG ACEL H QSR RSI BUKS LYV CVEO

Insider transactions

Form 4 purchases and sales (codes P and S) — grants, option exercises and preferred conversions excluded

No insider purchases or sales are on record for Biglari Holdings Inc. in the period covered. Source: SEC Form 4 filings, as of 2026-09-06.

INSIDER

FILED

VALUE

no insider purchases or sales on record

0 TRANSACTIONS ON RECORD

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Institutional holders

13F · holdings as of the latest quarter funds have reported

BIGLARI CAPITAL CORP.

1,626,711.0 sh

$952.3M

DIMENSIONAL FUND ADVISORS LP

112,010.0 sh

$57.4M

BlackRock, Inc.

51,549.0 sh

$31.0M

RENAISSANCE TECHNOLOGIES LLC

34,692.0 sh

$25.0M

GAMCO INVESTORS, INC. ET AL

11,038.0 sh

$23.2M

SCHEDULE 13D/G

No 5%+ ownership filings

Nobody has crossed 5% with a filing obligation. Absence is a fact here, not missing data.

FORM 144

No planned-sale notices

No insider has notified an intent to sell. This is the panel to watch after a run-up.

Fund concentration

N-PORT · funds ranked by how much of THEMSELVES they put in this stock — the conviction number 13F cannot show

Invesco Leisure and Entertainment ETF

$5.5M POSITION · AS OF 2026-04-30

2.2%

1290 VT GAMCO Small Company Value Portfolio

$16.6M POSITION · AS OF 2026-03-31

0.4%

First Trust Small Cap Growth AlphaDEX Fund

$4.4M POSITION · AS OF 2026-04-30

0.4%

KraneShares Man Buyout Beta Index ETF

$44.5K POSITION · AS OF 2026-03-31

0.4%

VictoryShares US Small Mid Cap Value Momentum ETF

$3.4M POSITION · AS OF 2026-03-31

0.2%

TEXAS CAPITAL TEXAS EQUITY INDEX ETF

$54.4K POSITION · AS OF 2026-03-31

0.2%

SEC N-PORT, MONTHLY WITH A ~60-DAY PUBLIC LAG · FUNDS ≥ $10M · % = SHARE OF THE FUND'S OWN BOOK

Executive pay vs shareholder return · Sardar Biglari

DEF 14A pay-versus-performance disclosure · both the headline pay and the SEC's mark-to-market figure, beside the return the company delivered and the return of the peer group it chose itself

CEO TOTAL

ACTUALLY PAID

OTHER NEOs AVG

TSR

PEER TSR

2025

$900.0K

$1.3M

+144%

—

2024

$1.4M

$1.1M

+84%

—

2023

$8.2M

$1.0M

+18%

—

2022

$900.0K

$1.0M

-2%

—

TAGGED BY THE COMPANY UNDER SEC ITEM 402(v) · RETURN IS CUMULATIVE FROM THE START OF THE DISCLOSURE PERIOD · GREEN WHERE THE COMPANY BEAT ITS OWN PEER GROUP

Fundamentals

Annual figures from XBRL filings · pick a past date to see them exactly as the market knew them then — restatements and all

	2025-12	2024-12	2023-12	2022-12
REVENUE	$395.3M	$362.1M	$365.3M	$368.2M
NET INCOME	$-37.5M	$-3.8M	$54.9M	$-32.0M
EPS (DILUTED)	-143.86	-13.45	189.49	-107.43
OPERATING CASH FLOW	$107.0M	$49.7M	$73.0M	$127.8M
CASH	$268.8M	$30.7M	$28.1M	$37.5M
LONG-TERM DEBT	$213.9M	$10.0M	—	—

SEC XBRL · FISCAL-YEAR PERIODS · AS KNOWN ON 2026-09-06 · NOBODY ELSE SHOWS FUNDAMENTALS AS OF A PAST DATE