Performance analysis of Biglari (BH-A)
Annual Return
Over the past 3 years, BH-A has had an average annual return of +13.65%, underperforming the benchmark SPY, which returned +22.77% annual.
Over the past 5 years, BH-A has had an average annual return of +13.20%, underperforming the benchmark SPY, which returned +14% annual.
Since May 1, 2018, BH-A has had an average annual return of +3.27%, underperforming the benchmark SPY, which returned +15.66% annual.
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |||
|---|---|---|---|---|---|---|---|---|---|---|---|
| -12.33% | +36.47% | +60.59% | +15.49% | -1.08% | +18.79% | -2.49% | +2.10% | -50.01% |
Monthly Return
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Annually Total |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +13.15% | +1.03% | -12.39% | -6.46% | -8.62% | +2.41% | -12.33% | ||||||
| 2025 | -12.94% | +6.67% | -7.10% | +4.27% | +4.89% | +16.41% | +6.11% | +5.09% | -1.07% | +13.48% | -13.01% | +14.09% | +36.47% |
| 2024 | -0.64% | +13.80% | +7.88% | +3.24% | -1.99% | -6.88% | +7.72% | -9.36% | -6.57% | +1.10% | +27.74% | +18.60% | +60.59% |
| 2023 | +16.36% | +11.89% | -6.99% | +3.85% | +16.80% | -5.92% | +5.91% | -8.67% | -8.88% | -15.10% | +3.39% | +8.01% | +15.49% |
| 2022 | -10.06% | +14.27% | +2.21% | -6.41% | -1.20% | -12.90% | +1.98% | +10.10% | -6.52% | +7.77% | +4.51% | -1.08% | -1.08% |
| 2021 | -2.39% | +2.53% | +15.38% | -4.49% | +27.04% | -4.96% | +2.05% | +10.56% | -6.70% | +0% | -15.74% | +0.58% | +18.79% |
| 2020 | +4.92% | -4.69% | -50.49% | +19.51% | -14.40% | +10.25% | -5.61% | +47.21% | +4.80% | -10.41% | +31.09% | +2.11% | -2.49% |
| 2019 | +10.62% | +7.52% | +5.21% | +0.22% | -33.59% | +8.38% | -13.85% | -3.78% | +27.61% | -23.21% | +34.12% | +3.80% | +2.10% |
| 2018 | -8.98% | -11.21% | +2.88% | -1.97% | -3.78% | -18.65% | -6.83% | -15.90% | -50.01% |
Drawdown analysis of Biglari (BH-A)
The maximum drawdown for the BH-A was -77.48%, occurring on May 15, 2020. Recovery took 1154 trading sessions.
The current BH-A drawdown is -38.06%.
Since May 1, 2018 BH-A has experienced the following drawdowns:
- 50% or more: 1 time
- 40% or more: 2 times
- 30% or more: 2 times
- 20% or more: 4 times
- 10% or more: 5 times
| Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -77.48% | May 1, 2018 | 514 | May 15, 2020 | 1154 | Dec 16, 2024 | 1668 |
| -45.84% | Jan 21, 2026 | 76 | May 11, 2026 | Ongoing | Ongoing | Ongoing |
| -24.85% | Dec 26, 2024 | 68 | Apr 7, 2025 | 50 | Jun 18, 2025 | 118 |
| -22.73% | Oct 27, 2025 | 18 | Nov 20, 2025 | 22 | Dec 23, 2025 | 40 |
| -13.53% | Jul 23, 2025 | 12 | Aug 8, 2025 | 5 | Aug 15, 2025 | 17 |
| -8.99% | Dec 17, 2024 | 1 | Dec 18, 2024 | 5 | Dec 26, 2024 | 6 |
| -7.48% | Dec 23, 2025 | 5 | Dec 31, 2025 | 3 | Jan 6, 2026 | 8 |
| -5.99% | Aug 28, 2025 | 10 | Sep 12, 2025 | 14 | Oct 2, 2025 | 24 |
| -5.16% | Aug 15, 2025 | 4 | Aug 21, 2025 | 4 | Aug 27, 2025 | 8 |
| -3.02% | Oct 9, 2025 | 1 | Oct 10, 2025 | 1 | Oct 13, 2025 | 2 |
| -2.74% | Jun 23, 2025 | 9 | Jul 7, 2025 | 1 | Jul 8, 2025 | 10 |
| -2.20% | Jan 16, 2026 | 1 | Jan 20, 2026 | 1 | Jan 21, 2026 | 2 |
| -2.01% | Jul 9, 2025 | 3 | Jul 14, 2025 | 3 | Jul 17, 2025 | 6 |
| -1.31% | Oct 15, 2025 | 1 | Oct 16, 2025 | 1 | Oct 17, 2025 | 2 |
| -1.00% | Oct 2, 2025 | 1 | Oct 3, 2025 | 2 | Oct 7, 2025 | 3 |
| -0.88% | Oct 20, 2025 | 2 | Oct 22, 2025 | 1 | Oct 23, 2025 | 3 |
| -0.65% | Oct 13, 2025 | 1 | Oct 14, 2025 | 1 | Oct 15, 2025 | 2 |