BIGLARI CAPITAL CORP.

CIK

1334429

Location

San Antonio, TX

Portfolio Value

Mid $1,194,655,634

Diversification

Highly concentrated

Reports for

BIGLARI, SARDAR LION FUND, L.P. LION FUND II, L.P.

Filing Date

Global Rank

#2,227 / 8,795 ▲ 2 · as of Jun 2026

Top Industry

Restaurants 87.3%

3Y Alpha vs SPY

-4.9%

Period ended 3 months ago

Filed Aug 14, 2026 · 54d

26 quarters · since Mar 2020

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

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Portfolio Concentration

11 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

79.7%

+0.5 pts

Top 5

99.3%

+0.1 pts

Top 10

100.0%

+0.0 pts

HHI

6,507

Highly concentrated+76

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Consumer Cyclical	99.9%	$1,192,897,950	7
Financial Services	0.1%	$1,497,700	1
Healthcare	0.0%	$202,475	1
Technology	0.0%	$47,757	1
Consumer Defensive	0.0%	$9,752	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

2 positions

Ticker	Company	Δ Shares	Shares	Value
RACE	Ferrari N.V.	+55,000	346,981	$129,177,556
BH-A	Biglari Holdings Inc.	+54,952	1,626,711	$952,335,450
No positions match the current search.

Trimmed

Positions the filer reduced

2 positions

Ticker	Company	Δ Shares	Shares	Value
LOCO	El Pollo Loco Holdings, Inc.	−222,600	3,777,400	$64,064,704
CBRL	Cracker Barrel Old Country Store, Inc	−33,859	2,000	$106,600
No positions match the current search.

New Positions

Positions the filer opened this quarter

No qualifying positions this quarter.

Sold Out

Positions the filer fully exited

No qualifying positions this quarter.

Portfolio Positions

Compact Export CSV View 13F filing

11 tracked positions · $1,194,655,634 total · filing declares 19 positions · $1,194,657,336 · as of Jun 30, 2026

All sectors Consumer Cyclical Consumer Defensive Financial Services Healthcare Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
BH-A	Biglari Holdings Inc. Consumer Cyclical	Added	1,626,711	+54,952	$952,335,450	+29.3%	79.72%
RACE	Ferrari N.V. Consumer Cyclical	Added	346,981	+55,000	$129,177,556	+30.7%	10.81%
LOCO	El Pollo Loco Holdings, Inc. Consumer Cyclical	Reduced	3,777,400	-222,600	$64,064,704	+15.6%	5.36%
JACK	Jack In The Box Inc Consumer Cyclical	Held	1,683,652	0	$26,618,538	+63.5%	2.23%
WYNN	Wynn Resorts Ltd Consumer Cyclical	Held	143,801	0	$13,961,639	−4.4%	1.17%
KMX	Carmax Inc Consumer Cyclical	Held	125,420	0	$6,633,463	+27.2%	0.56%
BRK-B	Berkshire Hathaway Inc Financial Services	Held	2	0	$1,497,700	+4.3%	0.13%
BHC	Bausch Health Companies Inc. Healthcare	Held	41,070	0	$202,475	−8.7%	0.02%
CBRL	Cracker Barrel Old Country Store, Inc Consumer Cyclical	Reduced	2,000	-33,859	$106,600	−89.4%	0.01%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Held	100	0	$47,757	+41.3%	0.00%
KO	Coca Cola Co Consumer Defensive	Held	120	0	$9,752	+6.9%	0.00%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.