| Biglari Holdings is a holding company. Through its subsidiaries, Co. engages in property and casualty insurance, media and licensing, restaurants, and oil and gas. Co. operates its restaurants via its subsidiaries, Steak n Shake Inc. and Western Sizzlin Corporation. Co.'s insurance business included First Guard Insurance Company and its agency, 1st Guard Corporation, a direct underwriter of commercial truck insurance, selling physical damage and nontrucking liability insurance to truckers. Co.'s Maxim Inc. subsidiary's media business lies principally in media and licensing. Co.'s subsidiaries, Southern Oil Company and Southern Oil of Louisiana Inc. operate oil and natural gas properties. The BH YTD return is shown above.
The YTD Return on the BH YTD return page and across the coverage universe of our site,
is a measure of the total return for a given investment year-to-date for the current calendar year
(up to the end of prior trading session). Arguably, choosing the current calendar year for a measurement
period is on the one hand completely arbitrary, but on the other hand a year-to-date look can be extremely
useful in the context of our country's tax system which taxes gains and income on a calendar year basis.
Thus, researching Year-To-Date Returns is good practice for investors — whether BH YTD return or other benchmarks/peers
— and when doing so it is also important to factor in dividends, because a financial instrument's YTD return is
more than just the change in price if that instrument pays a dividend or coupon. Our website aims to empower investors
by performing the BH YTD return calculation (with any dividends reinvested as applicable), and to provide a
coverage universe of many stocks and ETFs to be able to compare YTD returns.