Pinnacle Associates’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
2017 Q1	–	Sell	-653	Closed	-$206K	–	657
2016 Q4	$206K	Buy	+653	New	+$206K	﹤0.01%	609
2015 Q3	–	Sell	-900	Closed	-$248K	–	648
2015 Q2	$248K	Buy	+900	New	+$248K	﹤0.01%	582