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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Biglari Holdings Inc | NYSE:BH | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
3.54 | 1.77% | 203.94 | 205.70 | 199.38 | 204.28 | 2,141 | 01:00:00 |
x
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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OR
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¨
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
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Commission
file number
000-08445
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A.
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Full title of the plan and the address of the plan, if different from that of the issuer named below:
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The Steak n Shake 401(k) Savings Plan
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B.
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Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
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BIGLARI HOLDINGS INC.
17802 IH 10 West, Suite 400
San Antonio, Texas 78257
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The Steak n Shake
401(k) Savings Plan
Employer ID No.: 37-0684070
Plan #: 001
Financial Statements as of
December 31, 2013 and 2012, and for the
Year Ended December 31, 2013, Supplemental Schedule as of December 31, 2013, and Report of Independent Registered Public Accounting Firm
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NOTE:
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Schedules not filed herewith are omitted because of the absence of the conditions under which they are required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974.
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THE STEAK N SHAKE 401(k) SAVINGS PLAN
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||||||||
ST
ATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
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||||||||
AS OF DECEMBER 31, 2013 AND 2012
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||||||||
2013
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2012
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|||||||
ASSETS:
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||||||||
Investments — at fair value:
|
||||||||
Money market funds
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$ | 5,806,115 | $ | 6,336,343 | ||||
Mutual funds
|
15,958,850 | 13,504,674 | ||||||
Common stock
|
487,388 | 394,700 | ||||||
Total investments
|
22,252,353 | 20,235,717 | ||||||
Receivables:
|
||||||||
Notes receivable from participants
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244,579 | 316,487 | ||||||
Participant contributions
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65,956 | |||||||
Employer contributions
|
10,641 | |||||||
Total receivables
|
244,579 | 393,084 | ||||||
Total assets
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22,496,932 | 20,628,801 | ||||||
LIABILITIES — Excess contributions payable
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22,857 | 55,735 | ||||||
NET ASSETS AVAILABLE FOR BENEFITS
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$ | 22,474,075 | $ | 20,573,066 | ||||
See notes to financial statements.
|
THE STEAK N SHAKE 401(k) SAVINGS PLAN
|
||||
ST
ATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
|
||||
FOR THE YEAR ENDED DECEMBER 31, 2013
|
||||
ADDITIONS:
|
||||
Contributions:
|
||||
Participant contributions
|
$ | 1,331,512 | ||
Employer contributions
|
186,456 | |||
Rollovers
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95,407 | |||
Total contributions
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1,613,375 | |||
Investment income:
|
||||
Net appreciation in fair value of investments
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2,724,537 | |||
Interest and dividends
|
340,838 | |||
Total investment income
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3,065,375 | |||
Interest income on notes receivable from participants
|
11,721 | |||
Total additions
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4,690,471 | |||
DEDUCTIONS:
|
||||
Benefits paid to participants
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2,666,202 | |||
Administrative expenses
|
123,260 | |||
Total deductions
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2,789,462 | |||
INCREASE IN NET ASSETS
|
1,901,009 | |||
NET ASSETS AVAILABLE FOR BENEFITS:
|
||||
Beginning of year
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20,573,066 | |||
End of year
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$ | 22,474,075 | ||
See notes to financial statements.
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THE STEAK N SHAKE 401(K) SAVINGS PLAN
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||||
NO
TES TO FINANCIAL STATEMENTS
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||||
AS OF DECEMBER 31, 2013 AND 2012, AND FOR THE YEAR ENDED DECEMBER 31, 2013
|
||||
1.
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DESCRIPTION OF THE PLAN
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Number of Years of
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Vested
|
||
Continuous Service
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Percentage
|
||
Less than 2
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-
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% | |
2
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20
|
||
3
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40
|
||
4
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60
|
||
5
|
80
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||
6 or more
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100
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2.
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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3.
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INVESTMENTS
|
2013
|
2012
|
|||||||
Fidelity Retirement Money Market
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$ | 5,688,690 | $ | 6,326,739 | ||||
Longleaf Partners International Fund
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1,386,765 | 1,146,991 | ||||||
Third Avenue Value Fund Institutional
|
4,042,591 | 3,810,616 | ||||||
Vanguard Index Trust — 500 Portfolio
|
3,064,313 | 2,365,450 | ||||||
Vanguard Target Retirement 2020 Fund
|
1,252,792 | 1,145,715 | ||||||
Vanguard Target Retirement 2030 Fund
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1,399,562 | 1,139,162 | ||||||
Vanguard Target Retirement 2040 Fund
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1,140,894 | * | ||||||
* Fund did not represent 5% or more of net assets available for benefits as of December 31, 2012.
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Mutual funds:
|
||||
Balanced
|
$ | 1,584,900 | ||
Equity
|
1,023,940 | |||
Fixed income
|
9,131 | |||
2,617,971 | ||||
Common stock
|
106,566 | |||
Net appreciation in fair value of investments
|
$ | 2,724,537 |
4.
|
FAIR VALUE MEASUREMENTS
|
2013
|
||||||||||||||||
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||||
Mutual funds:
|
||||||||||||||||
Balanced
|
$ | 11,227,258 | $ | - | $ | - | $ | 11,227,258 | ||||||||
Equity
|
4,451,078 | 4,451,078 | ||||||||||||||
Fixed income
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280,514 | 280,514 | ||||||||||||||
15,958,850 | - | - | 15,958,850 | |||||||||||||
Money market funds
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5,806,115 | 5,806,115 | ||||||||||||||
Common stock
|
487,388 | 487,388 | ||||||||||||||
Total investments
|
$ | 16,446,238 | $ | 5,806,115 | $ | - | $ | 22,252,353 | ||||||||
2012 | ||||||||||||||||
Level 1
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Level 2
|
Level 3
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Total
|
|||||||||||||
Mutual funds:
|
||||||||||||||||
Balanced
|
$ | 9,717,846 | $ | - | $ | - | $ | 9,717,846 | ||||||||
Equity
|
3,512,441 | 3,512,441 | ||||||||||||||
Fixed income
|
274,387 | 274,387 | ||||||||||||||
13,504,674 | - | - | 13,504,674 | |||||||||||||
Money market funds
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6,336,343 | 6,336,343 | ||||||||||||||
Common stock
|
394,700 | 394,700 | ||||||||||||||
Total investments
|
$ | 13,899,374 | $ | 6,336,343 | $ | - | $ | 20,235,717 |
5.
|
PARTY-IN-INTEREST TRANSACTIONS
|
6.
|
PLAN TERMINATION
|
7.
|
FEDERAL INCOME TAX STATUS
|
THE STEAK N SHAKE 401(k) SAVINGS PLAN
|
|||||
FO
RM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS
|
|||||
(HELD AT END OF YEAR)
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EIN#: 37-0684070
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||||
AS OF DECEMBER 31, 2013
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Plan #: 001
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||||
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|
|||
Identity of Issuer, Borrower,
Lessor or Similar Party
|
Description of Investment
Including Maturity Date,
Rate of Interest, Collateral,
Par or Maturity Value
|
Fair
Value
|
|||
Money market funds:
|
|||||
Fidelity Investments
|
Fidelity Retirement Money Market
|
$ | 5,688,690 | ||
* TD Ameritrade
|
TD Bank Institutional MMDA
|
410 | |||
* TD Ameritrade
|
TD Bank USA MMDA
|
117,015 | |||
Total money market funds
|
5,806,115 | ||||
Mutual funds:
|
|||||
Longleaf Partners
|
Longleaf Partners International Fund
|
1,386,765 | |||
Pimco
|
Pimco Pacific Investment Short Term Instit.
|
141,505 | |||
Third Avenue
|
Third Avenue Focused Credit Fund
|
139,009 | |||
Third Avenue
|
Third Avenue Value Fund Institutional
|
4,042,591 | |||
Vanguard
|
Vanguard Index Trust — 500 Portfolio
|
3,064,313 | |||
Vanguard
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Vanguard Target Retirement 2010 Fund
|
432,417 | |||
Vanguard
|
Vanguard Target Retirement 2015 Fund
|
551,472 | |||
Vanguard
|
Vanguard Target Retirement 2020 Fund
|
1,252,792 | |||
Vanguard
|
Vanguard Target Retirement 2025 Fund
|
629,374 | |||
Vanguard
|
Vanguard Target Retirement 2030 Fund
|
1,399,562 | |||
Vanguard
|
Vanguard Target Retirement 2035 Fund
|
872,156 | |||
Vanguard
|
Vanguard Target Retirement 2040 Fund
|
1,140,894 | |||
Vanguard
|
Vanguard Target Retirement 2045 Fund
|
242,249 | |||
Vanguard
|
Vanguard Target Retirement 2050 Fund
|
528,254 | |||
Vanguard
|
Vanguard Target Retirement Income Fund
|
135,497 | |||
Total mutual funds
|
15,958,850 | ||||
* Common stock — Biglari Holdings Inc.
|
Biglari Holdings Inc. Common Stock
|
487,388 | |||
Notes receivable from participants —
|
|||||
* Various plan participants
|
Participant loans, with interest rates ranging
|
||||
from 4.25% to 6.25% and maturing at
|
|||||
various dates through September 7, 2022
|
244,579 | ||||
TOTAL
|
$ | 22,496,932 | |||
* Denotes a party-in-interest
|
The Steak n Shake 401(k) Savings Plan
|
|
By:
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/s/ Bruce Lewis |
Bruce Lewis, on behalf of Steak n Shake Operations, Inc., the Plan Sponsor
|
|
Exhibit No.
|
Description
|
|
23.1
|
Consent of Independent Registered Public Accounting Firm
|
1 Year Biglari Chart |
1 Month Biglari Chart |
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