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BIGLARI CAPITAL CORP.
hedge fundUpdated 28 days agoManaged by Biglari Capital Corp. • Latest filing Q2 2026
Portfolio value
$1.2B
Q2 2026
Filings
14
Quarterly 13F history
Top-10 concentration
100.0%
Weight of largest holdings
Annualized return
16.9%
Implied from 13F holdings
Portfolio value history
13F-disclosed portfolio value over 14 quarters
Show data table
| Period | Portfolio value |
|---|---|
| Q1 2023 | $718.4M |
| Q2 2023 | $754.9M |
| Q3 2023 | $640.3M |
| Q4 2023 | $678.7M |
| Q1 2024 | $746.3M |
| Q2 2024 | $657M |
| Q3 2024 | $651.4M |
| Q4 2024 | $838.8M |
| Q1 2025 | $709M |
| Q2 2025 | $865.1M |
| Q3 2025 | $913.2M |
| Q4 2025 | $932.7M |
| Q1 2026 | $929.4M |
| Q2 2026 | $1.2B |
Top holdings
19 positions as of Q2 2026
| # | Stock | Value | Shares | % Portfolio | Change |
|---|---|---|---|---|---|
| 1 | B BH BIGLARI HLDGS INC | $596.6M | 1.40M | 49.94% | Added(+4.1%) |
| 2 | B BH BIGLARI HLDGS INC | $271.1M | 128.8K | 22.69% | Unchanged |
| 3 | R RACE FERRARI N V | $109.6M | 294.5K | 9.18% | Added(+4.0%) |
| 4 | L LOCO EL POLLO LOCO HLDGS INC | $64.1M | 3.78M | 5.36% | Trimmed(-5.6%) |
| 5 | B BH BIGLARI HLDGS INC | $54M | 25.7K | 4.52% | Trimmed(-80.1%) |
| 6 | B BH BIGLARI HLDGS INC | $30.6M | 71.9K | 2.56% | Trimmed(-94.7%) |
| 7 | R RACE FERRARI N V | $19.5M | 52.5K | 1.64% | Trimmed(-81.5%) |
| 8 | J JACK JACK IN THE BOX INC | $18M | 1.14M | 1.51% | Unchanged |
| 9 | W WYNN WYNN RESORTS LTD | $13M | 134.4K | 1.09% | Unchanged |
| 10 | J JACK JACK IN THE BOX INC | $8.6M | 542.7K | 0.72% | Trimmed(-52.4%) |
| 11 | K KMX CARMAX INC | $6.3M | 118.9K | 0.53% | Unchanged |
| 12 | B BRK-A BERKSHIRE HATHAWAY INC DEL | $1.5M | 2 | 0.13% | Unchanged |
| 13 | W WYNN WYNN RESORTS LTD | $913K | 9.4K | 0.08% | Trimmed(-93.0%) |
| 14 | K KMX CARMAX INC | $345K | 6.5K | 0.03% | Trimmed(-94.5%) |
| 15 | B BHC BAUSCH HEALTH COS INC | $202K | 41.1K | 0.02% | Unchanged |
| 16 | C CBRL CRACKER BARREL OLD CTRY STOR | $107K | 2.0K | 0.01% | Trimmed(-94.4%) |
| 17 | T TSMWF TAIWAN SEMICONDUCTOR MANUFAC | $48K | 100 | 0.00% | Unchanged |
| 18 | K KO COCA COLA CO | $8K | 100 | 0.00% | Unchanged |
| 19 | K KO COCA COLA CO | $2K | 20 | 0.00% | Trimmed(-80.0%) |