Lion Fund Ii, L.p. bought $2.2M of BH

bought $2.22m of BH

15,000 shares @ $148.00

Increased holdings by +1.80%

3rd largest trade (out of 95)

Large TradeCluster BuyPositive 90D History

Trade made by a 10% owner

Part of a cluster of 22 transactions by 4 insiders

Unscheduled trade

96% win rate · +11.3% median edge vs SPY (48 trades, 90-day)

Price 36% above 200-day moving average

BHBiglari Holdings Inc.

Consumer DiscretionaryRestaurants

1D0.00%

1W-3.37%

1M+13.50%

3M+23.90%

6M—

1Y—

Recent insider activity at BH