Kovitz Investment Group’s Biglari Holdings Class B BH Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q2	–	Sell	-92,851	Closed	-$21.4M	–	105
2014 Q1	$21.4M	Buy	+92,851	New	+$21.4M	1.1%	37
2013 Q4	–	Sell	-3,741	Closed	-$956K	–	102
2013 Q3	$956K	Sell	3,741 -69,583	-95%	-$17.8M	0.05%	61
2013 Q2	$17.3M	Buy	+73,324	New	+$17.3M	0.89%	35