BIGLARI HOLDINGS INCINARY CLASS B (BH)
Consumer Discretionary · Conglomerates · NYSE
A diversified holding company with interests spanning casual dining restaurants, property and casualty insurance, energy production, and various investment ventures.
What BIGLARI HOLDINGS INCINARY CLASS B does
Biglari Holdings Inc. is a diversified holding company engaged in a variety of business activities, including restaurant operations, property and casualty insurance, oil and gas production, and media and licensing. Its restaurant portfolio is centered around Steak n Shake, while its insurance business provides underwriting services and its oil and gas segment focuses on the extraction and sale of energy resources. The company also maintains a significant investment portfolio across different asset classes.
Themes: casual dining restaurants, property and casualty insurance, oil and gas production, investment holding company, media licensing
Fundamentals
- Price$367.70 as of 2026-10-08 close
- Market cap$855M as of 2026-08-06 (share count; price 2026-10-08)
- 1-year return+7.0% 2025-10-08 close $343.61 → 2026-10-08 close $367.70
- P/En/a negative earnings
- Net margin-9.5% FY2025, SEC XBRL
- ROE-7.2% FY2025, SEC XBRL
- Debt / equity0.61 as of 2026-09-03
- Revenue growth (YoY)-17.1% as of 2026-09-03
- Revenue CAGR (3y)+2.4% SEC XBRL
- Beta0.86 as of 2026-09-03
- Last reported earnings2026-08-07 SEC EDGAR Form 8-K (Item 2.02)
How BH compares in its sector
- net profit marginbottom 25% 314 covered Consumer Discretionary peers, as of 2026-09-03
- return on equitybottom 25% 293 covered Consumer Discretionary peers, as of 2026-09-03
- 3-year revenue CAGRmiddle range 326 covered Consumer Discretionary peers
- free cash flow (absolute dollars, latest fiscal year)middle range 311 covered Consumer Discretionary peers, as of FY2025
Position among covered Consumer Discretionary companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
How BIGLARI HOLDINGS INCINARY CLASS B looks technically
BIGLARI HOLDINGS INCINARY CLASS B (BH) is trading 3.5% above its 200-day average, the long-term trend line — a longer-term uptrend. Its 50-day average crossed above its 200-day average about 51 trading days ago — a "golden cross", a bullish long-term signal. There is no clear trend right now — the price is choppy (ADX, a 0–100 trend-strength gauge, is 13, below the 25 that marks a real trend). Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 55, neither overbought (above 70) nor oversold (below 30). MACD, a trend-momentum gauge, turned bullish about 6 trading days ago (its momentum flipped positive). It made a new 20-day low about 8 trading days ago. It is 24.0% below its highest point of the past year. Trading volume is unusually light — only about 39% of its 30-day average.
Trend
8
| Distance from the 200-day | it is trading 3.5% above its 200-day average, the long-term trend line — a longer-term uptrend | +3.5% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $372.89 | $372.89 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $355.39 | $355.39 |
| Swing structure | its recent peaks and dips disagree — one of them is rising while the other is not, so there is no clean up or down pattern in the swings | mixed — one of the two is not confirming |
| Last swing turn | its last significant turn was a swing low 17 calendar days ago — the swings before that are what the structure reading is measured on | 17 sessions |
| Since the 50/200 cross | its 50-day average crossed above its 200-day average about 51 trading days ago — a "golden cross", a bullish long-term signal | 51 sessions |
| Above the 200-day after a dip | it recently dipped to its 200-day average (the long-term trend line) and has since climbed back above it — now about 3.5% above | +3.5% |
| Trend strength (14-day ADX) | there is no clear trend right now — the price is choppy (ADX, a 0–100 trend-strength gauge, is 13, below the 25 that marks a real trend) | 13.3 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 55, neither overbought (above 70) nor oversold (below 30) | 54.8 |
|---|---|---|
| Position in its 14-day range | it is trading near the top of its 14-day range ($336.41 to $375.01) — its "stochastic" reading is 81 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been slipping within that range over the last few sessions. | 81.1 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, turned bullish about 6 trading days ago (its momentum flipped positive) | 6 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $483.60 | $483.60 |
|---|---|---|
| From the 52-week high | it is 24.0% below its 52-week high (its highest price of the past year) | -24.0% |
| Above the 52-week low | it is 56.5% above its 52-week low (its lowest price of the past year) | +56.5% |
| Below the 52-week high | it is 24.0% below its highest point of the past year | 24.0% |
| Since a 20-day breakout | it made a new 20-day low about 8 trading days ago | 8 sessions |
| Since a 55-day breakout | it made a new 55-day low about 8 trading days ago | 8 sessions |
| All-time high | its highest closing price on record is $483.60 (set on 2026-01-22) | $483.60 |
| Given back of the 52-week move | over the past year its closes ranged ($247.83 to $476.92), and it has recovered around half of its fall from last year’s high — 52% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $389.41 to $396.74. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 52.3% |
| From the all-time high | it is 24.0% below its all-time high | -24.0% |
| Nearest price level | it is sitting right on a support level at $367.42 — a price it turned at four times since 2025-12-26, most recently on 2026-08-28. Since 2024-10-08 it has 13 such levels below the current price and 2 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | -0.1% |
| All-time low | its lowest closing price on record is $5.71 (set on 1980-12-23) | $5.71 |
| Above the all-time low | it is 6339.6% above its all-time low | +6,340% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are narrower than usual versus its own recent 6-month history (tighter than about 75% of it) | 25th percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $13.42 between its high and its low — about 3.7% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $13.42 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $332.97 and $375.57 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $332.97 – $354.27 – $375.57 |
| Typical daily range (% of price) | its price moves about 3.7% in a typical session — about typical for the companies we cover. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 3.6% |
| Stretch from the 200-day average | it is trading 0.9 daily ranges above its 200-day average price (3.5% above it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 0.9 daily ranges above its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is unusually light — only about 39% of its 30-day average | 0.39× |
|---|
Candlestick patterns
2
| Since a doji | today it opened and closed at almost the same price after trading through a wider range — a "doji", the classic picture of buyers and sellers finishing the session level | today |
|---|---|---|
| Since a bullish engulfing | 6 sessions ago it opened below the previous session's close and finished above that session's open — a "bullish engulfing" pair, where one up day more than undid the down day before it | 6 sessions ago |
Price gaps
2
| Gap at the open | it opened on 2026-10-08 0.4% below the previous session's close — an overnight gap, the part of the move that happened while the market was shut, and traded back through that level before the close | -0.4% |
|---|---|---|
| Gap filled | a 7.7% gap up opened on 2026-09-08 has been "filled" 22 sessions ago — price traded back through the level the gap left behind, and it closed again during the very session that opened it | 22 sessions ago |
Price streaks
1
| Closing streak | it has closed lower 2 sessions in a row, a -0.59% move over the run — an unbroken run of down days, which describes what has already happened and says nothing about the next session | 2 sessions down |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock beat the market by 1.5 percentage points (the stock gained 2.5% while the market gained 1.0%) | +1.5% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock lagged the market by 12.8 percentage points (the stock lost 8.9% while the market gained 3.8%) | -12.8% |
| vs market, 6 months | over the past 6 months this stock lagged the market by 8.5 percentage points (the stock gained 9.0% while the market gained 17.5%) | -8.5% |
| vs market, 12 months | over the past 12 months this stock lagged the market by 8.0 percentage points (the stock gained 7.0% while the market gained 15.0%) | -8.0% |
Signal agreement
2
| Bullish technical signals | 3 of the 9 technical signals we can compute for it are currently in a bullish state: a "golden cross" — its 50-day average is above its 200-day, trading above its 200-day average, MACD momentum is positive — these describe past price behaviour, not a forecast | 3 of 9 |
|---|---|---|
| Bearish technical signals | 3 of the 9 technical signals we can compute for it are currently in a bearish state: lagging the market over 6 months, near the top of its 14-day range (overbought), trading below the Ichimoku cloud — these describe past price behaviour, not a forecast | 3 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading 4.2% below the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-09-01 and projected forward over today's price, the side traders read as an established downtrend, with the band above acting as the level that would have to be cleared. The band itself is thin, spanning 0.1% of the share price, which is taken to mean a barrier that gives way easily. | -4.2% |
|---|
Volume-weighted price
1
| Vs this year’s average price paid | the price is 2% above the average price paid so far this year, so the typical buyer over that stretch is showing a gain. That average is $361.40 — a volume-weighted average of daily closes over 192 sessions, not a true tick-by-tick VWAP. | +1.7% |
|---|
Price levels it has turned at before
BH last closed at $367.70 on 2026-10-08. Since 2024-10-08 it has turned at 13 prices below its last close and 2 above; the 3 nearest below and the 2 nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $367.42 | Support | 0.1% below the last close | turned there four times · 2025-12-26 to 2026-08-28 |
| $358.91 | Support | 2.4% below the last close | turned there four times · 2026-04-08 to 2026-07-29 |
| $336.70 | Support | 8.4% below the last close | turned there twice · 2026-09-21 to 2026-09-30 |
| $410.81 | Resistance | 11.7% above the last close | turned there twice · 2026-08-06 to 2026-09-08 |
| $421.65 | Resistance | 14.7% above the last close | turned there twice · 2026-02-06 to 2026-02-18 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
No Elliott-wave labelling currently fits its swings: the recent highs and lows do not satisfy the three rules a five-wave count has to obey, so there is no count to show rather than a count we are unsure about.
Read from daily closes as of 2026-10-08.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading above the 200-day moving average · Tested and reclaimed 200-day support · Pulled back from the 12-month high · trendless / choppy (low ADX) · lagging the market · Printed a doji candle | Learn: moving average · golden cross · adx · rsi · macd · breakout · fifty two week high low · volume and relative volume
Based on daily closing prices as of 2026-10-08. Describes past price behavior only — informational, not financial advice.
Key risks (from latest filing)
["Significant reliance on the performance of its restaurant operations, particularly Steak n Shake.","Volatility in investment portfolio returns and partnership performance, which can significantly impact consolidated earnings.","Exposure to energy sector fluctuations and potential losses in insurance underwriting."]
What changed in the latest 10-Q
AI-assisted comparison of BH's 10-Q filed 2026-08-07 against the prior one filed 2026-05-08.
Management's Discussion & Analysis (MD&A)
- Reworded:
- The newer filing (2026-08-07) contains only the latter portion of MD&A (recently issued accounting pronouncements, forward-looking statements, market risk, controls and procedures, and Part II legal proceedings), while the older filing (2026-05-08) contains the full MD&A discussion including overview, operating segment results, restaurant, insurance, and other business analyses. The comparison is limited to the subsection content common to both filings; however, the newer text excerpt appears truncated relative to the older text excerpt.
- Notes:
- The newer filing excerpt contains only the final quarter of MD&A plus Part II start, so the bulk of MD&A content present in the older filing (Overview, operating segment tables, restaurant discussion, insurance discussion, oil and gas, etc.) cannot be compared because it is not present in the provided newer text. No additions, removals, or wording changes could be identified where content directly overlaps.
Risk Factors
- Added:
- Newer filing (2026-08-07) states The Lion Fund, L.P. purchased 54,952 shares of Class B common stock from May 12, 2026 through June 5, 2026.
- Newer filing (2026-08-07) table adds monthly rows for April, May, and June 2026 with 52,674 Class B shares at average price $255.18 in May and 2,278 Class B shares at average price $289.23 in June.
- Newer filing (2026-08-07) shows total of 54,952 Class B shares purchased.
- Removed:
- Older filing (2026-05-08) stated The Lion Fund, L.P. purchased 9,717 shares of Class B common stock from March 3, 2026 through March 13, 2026.
- Older filing (2026-05-08) table had monthly rows for January, February, and March 2026 with 9,717 Class B shares at average price $306.51 in March.
- Older filing (2026-05-08) showed total of 9,717 Class B shares purchased.
- Reworded:
- Purchase period description changed from March 3, 2026 through March 13, 2026 in older filing to May 12, 2026 through June 5, 2026 in newer filing.
- Monthly share purchase table rows changed from January-March 2026 period data in older filing to April-June 2026 period data in newer filing.
- Signatures page date changed from May 8, 2026 in older filing to August 7, 2026 in newer filing.
- Notes:
- Risk Factors section statement is identical in both filings: no material changes from Form 10-K for year ended December 31, 2025.
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
0 open-market purchases and 15 open-market sales by insiders in the last 90 days, of which we have read Form 4 filings through 2026-10-04. The 5 days since 2026-10-04 have not been checked yet.
- Last 90 days · read to 2026-10-040 buys · 15 sells ($3M) — 1 selling insider
- Last 180 days · read to 2026-10-045 buys ($14M) · 20 sells ($10M) — 1 buying, 1 selling insiders
Activity heuristic: net selling (a transparent product heuristic from the counts above, not a prediction or advice)
Most recent open-market transaction: 2026-08-07. Based on Form 4 filings read through 2026-10-04; anything filed since is not yet included.
View full insider trading history → View SEC Form 3/4/5 filingsAsk about BH's insider activity →
Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Institutional ownership (13F)
5 institutional 13F filers reported holding BH as of 2026-06-30 (quarter-end position, filed within 45 days).
- Distinct 13F filers 5
- Reported shares held 93,661
- Reported value $39,902,569
reported quarterly holdings change (2026-03-31 → 2026-06-30): 1 new, 2 increased, 2 decreased, 0 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".
Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.
Ask about BH's institutional holders → See what each manager we track holds →
Short interest (FINRA)
BH had 158,600 shares of reported short interest as of the 2026-09-15 FINRA settlement date (delayed, bi-monthly; not real-time).
Short interest as a percent of shares outstanding is not shown for BH because we do not hold a verified share count to divide it by. The reported figures above are unaffected.
- Reported short interest (shares) 158,600
- Prior settlement (shares) 146,037
- Reported change 8.6%
- Days to cover (reported) 1
Reported to FINRA as of the 2026-09-15 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- Darden Restaurants (DRI)
- Texas Roadhouse (TXRH)
- Cheesecake Factory (CAKE)
- Brinker International (EAT)
- Berkshire Hathaway
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
Compare BH vs…
BIGLARI HOLDINGS INCINARY CLASS B is found in…
Frequently asked questions
What does BIGLARI HOLDINGS INCINARY CLASS B (BH) do?
Biglari Holdings Inc. is a diversified holding company engaged in a variety of business activities, including restaurant operations, property and casualty insurance, oil and gas production, and media and licensing. Its restaurant portfolio is centered around Steak n Shake, while its insurance business provides underwriting services and its oil and gas segment focuses on the extraction and sale of energy resources.
What sector is BIGLARI HOLDINGS INCINARY CLASS B (BH) in?
BIGLARI HOLDINGS INCINARY CLASS B (BH) is classified in the Consumer Discretionary sector. Its industry is Conglomerates. It trades on NYSE.
Who are BIGLARI HOLDINGS INCINARY CLASS B's (BH) competitors?
Notable peers of BIGLARI HOLDINGS INCINARY CLASS B (BH) include Darden Restaurants, Texas Roadhouse, Cheesecake Factory, Brinker International and Berkshire Hathaway. This peer set is informational only — not financial advice.
Is BIGLARI HOLDINGS INCINARY CLASS B (BH) overbought or oversold right now?
BIGLARI HOLDINGS INCINARY CLASS B (BH) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 55, in the neutral middle (as of 2026-10-08). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on BH come from?
Fundamentals come from SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-03 for the rest; prices are market data, as of 2026-09-03; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-03 for the rest. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-10-08.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.