Company OBH Inc Nyse

BH

US08986R1014

Sales per Business

Sales per region

Shareholders

Company contact information

Sector

Sales per Business

Sector Quick Service Restaurants

Inactive Instrument

Biglari Holdings Inc., through its subsidiaries, is engaged in diverse business activities that include media, property and casualty insurance, and restaurants. The Company, through its subsidiaries, Steak n Shake Inc. (Steak n Shake) and Western Sizzlin Corporation (Western), is engaged in the restaurant business. Steak n Shake comprises of 415 ownly operated restaurants and 201 franchised units. Western comprises of four ownly operated restaurants and 58 franchised units. The Company, through First Guard Insurance Company and its agency, 1st Guard Corporation provides property and casualty insurance services. It is a direct underwriter of commercial trucking insurance, selling physical damage and non-trucking liability insurance to truckers. The Company is engaged in the business of media and licensing through, Maxim Inc.

USD in Million	2022	Weight	2023	Weight	Delta
Restaurant - Steak n Shake 65.7 %	232	63.0 %	240	65.7 %	+3.51%
Insurance - First Guard 10.1 %	36	9.8 %	37	10.1 %	+2.79%
Oil and Gas - Abraxas Petroleum 7.5 %	11	3.1 %	28	7.5 %	+140.73%
Insurance - Southern Pioneer 6.7 %	24	6.5 %	24	6.7 %	+1.14%
Oil and Gas - Southern Oil 4.8 %	46	12.5 %	17	4.8 %	-62.04%
Restaurant - Western Sizzlin 3.0 %	10	2.6 %	11	3.0 %	+11.83%
Insurance - Investment Income and Other 1.7 %	5	1.2 %	6	1.7 %	+31.71%
Maxim 0.6 %	5	1.2 %	2	0.6 %	-53.73%

USD in Million	2022	Weight	2023	Weight	Delta
United States 100.0 %	368	100.0 %	365	100.0 %	-0.79%

Name	Equities	%	Valuation
Biglari Capital LLC 65.22 %	1,349,071	65.22 %	256 M $
Biglari Capital LLC 64.66 %	1,337,666	64.66 %	254 M $
Dimensional Fund Advisors LP 4.232 %	87,545	4.232 %	17 M $
Teachers Advisors LLC 0.7859 %	16,257	0.7859 %	3 M $
Geode Capital Management LLC 0.7317 %	15,136	0.7317 %	3 M $
Acuitas Investments LLC 0.6988 %	14,455	0.6988 %	3 M $
Bridgeway Capital Management LLC 0.6696 %	13,851	0.6696 %	3 M $
STATE STREET CORPORATION 0.6055 %	12,525	0.6055 %	2 M $
Connor, Clark & Lunn Investment Management Ltd. 0.5137 %	10,627	0.5137 %	2 M $
Valu-Trac Investment Management Ltd. 0.4550 %	9,412	0.4550 %	2 M $

Name	Equities	%	Valuation
Biglari Capital LLC 71.46 %	147,821	71.46 %	140 M $
Biglari Capital LLC 70.96 %	146,799	70.96 %	139 M $
BlackRock Institutional Trust Co. NA 26.21 %	54,211	26.21 %	51 M $
Vanguard Group, Inc. (Subfiler) 15.39 %	31,841	15.39 %	30 M $
GAMCO Asset Management, Inc. 6.560 %	13,570	6.560 %	13 M $
Dimensional Fund Advisors LP 2.422 %	5,010	2.422 %	5 M $
Morgan Stanley Capital Services LLC 2.210 %	4,572	2.210 %	4 M $
Bank of America, NA (Charlotte, North Carolina) 1.334 %	2,760	1.334 %	3 M $
Check Capital Management, Inc. 1.157 %	2,394	1.157 %	2 M $
Gabelli Funds LLC 0.7251 %	1,500	0.7251 %	1 M $

Biglari Holdings, Inc.

19100 Ridgewood Parkway Suite 1200

78259, San Antonio

+210-344-3400

http://www.biglariholdings.com

Consumer Cyclicals

Cyclical Consumer Services

Hotels & Entertainment Services

Restaurants & Bars

Quick Service Restaurants

	1st Jan change	Capi.
MCDONALD'S CORPORATION	-7.90%	197B
CHIPOTLE MEXICAN GRILL, INC.	+39.35%	87.54B
YUM! BRANDS, INC.	+8.50%	39.89B
RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP	-5.41%	23.95B
RESTAURANT BRANDS INTERNATIONAL INC.	-5.52%	23.36B
DOMINO'S PIZZA INC.	+21.07%	17.38B
YUM CHINA HOLDINGS, INC.	-6.55%	15.49B
WINGSTOP INC.	+49.10%	11.24B
AMERICANA RESTAURANTS INTERNATIONAL PLC	+4.47%	7.5B