# BIGLARI CAPITAL CORP.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1334429. Source: https://holderbook.com/funds/1334429-biglari-capital-corp/

- Reported value: $1.2B
- Positions: 12
- Weight of the ten largest: 100.0%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| BIGLARI HLDGS INC | [BH](https://holderbook.com/stocks/BH/) | $627.2M | 1,472,237 | 52.5% | 31 |
| BIGLARI HLDGS INC | [BHA](https://holderbook.com/stocks/BHA/) | $325.1M | 154,474 | 27.2% | 31 |
| FERRARI N V | [RACE](https://holderbook.com/stocks/RACE/) | $129.2M | 346,981 | 10.8% | 16 |
| EL POLLO LOCO HLDGS INC | [LOCO](https://holderbook.com/stocks/LOCO/) | $64.1M | 3,777,400 | 5.4% | 13 |
| JACK IN THE BOX INC | [JACK](https://holderbook.com/stocks/JACK/) | $26.6M | 1,683,652 | 2.2% | 19 |
| WYNN RESORTS LTD | [WYNN](https://holderbook.com/stocks/WYNN/) | $14.0M | 143,801 | 1.2% | 8 |
| CARMAX INC | [KMX](https://holderbook.com/stocks/KMX/) | $6.6M | 125,420 | 0.6% | 16 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $1.5M | 2 | 0.1% | 31 |
| BAUSCH HEALTH COS INC | [BHC](https://holderbook.com/stocks/BHC/) | $202.5K | 41,070 | 0.0% | 31 |
| CRACKER BARREL OLD CTRY STOR | [CBRL](https://holderbook.com/stocks/CBRL/) | $106.6K | 2,000 | 0.0% | 31 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $47.8K | 100 | 0.0% | 19 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $9.8K | 120 | 0.0% | 17 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +24.4% | +14.8% | +9.6% | 100% |
| Q1 2026 | -1.4% | -4.6% | +3.2% | 100% |
| Q4 2025 | +0.8% | +2.4% | -1.6% | 100% |
| Q3 2025 | +5.9% | +7.8% | -2.0% | 100% |
| Q2 2025 | +27.9% | +10.5% | +17.5% | 100% |
| Q1 2025 | -15.3% | -4.6% | -10.8% | 100% |
| Q4 2024 | +26.0% | +2.1% | +23.9% | 100% |
| Q3 2024 | -2.8% | +5.4% | -8.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.2B | 12 |
| Q1 2026 | $929.4M | 12 |
| Q4 2025 | $932.7M | 12 |
| Q3 2025 | $913.2M | 12 |
| Q2 2025 | $865.1M | 12 |
| Q1 2025 | $709.0M | 13 |
| Q4 2024 | $838.8M | 13 |
| Q3 2024 | $651.4M | 13 |
| Q2 2024 | $657.0M | 12 |
| Q1 2024 | $746.3M | 12 |
| Q4 2023 | $678.7M | 12 |
| Q3 2023 | $640.3M | 12 |