13F HOLDINGS REPORT
Biglari Capital Corp.
Quarter ended Q4 2025 · Filed February 17, 2026 · Accession 0000921895-26-000460
Total Value
$932.7M
Positions
19
Other Managers
3
Confidential Omitted
No
Holdings (19)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | BIGLARI HLDGS INC | BH | 1,335,713 | $444.0M | 47.61% |
| 2 | BIGLARI HLDGS INC | BH | 128,811 | $224.1M | 24.03% |
| 3 | FERRARI N V | RACE | 225,481 | $83.3M | 8.93% |
| 4 | BIGLARI HLDGS INC | BH | 25,663 | $44.7M | 4.79% |
| 5 | EL POLLO LOCO HLDGS INC | LOCO | 4,000,000 | $41.8M | 4.49% |
| 6 | BIGLARI HLDGS INC | BH | 71,855 | $23.9M | 2.56% |
| 7 | JACK IN THE BOX INC | JACK | 1,140,952 | $21.6M | 2.32% |
| 8 | WYNN RESORTS LTD | WYNN | 134,400 | $16.2M | 1.73% |
| 9 | CRACKER BARREL OLD CTRY STOR | 22410J106 | 585,000 | $14.9M | 1.59% |
| 10 | JACK IN THE BOX INC | JACK | 542,700 | $10.3M | 1.10% |
| 11 | CARMAX INC | KMX | 118,900 | $4.6M | 0.49% |
| 12 | BERKSHIRE HATHAWAY INC DEL | BRK-A | 2 | $1.5M | 0.16% |
| 13 | WYNN RESORTS LTD | WYNN | 9,401 | $1.1M | 0.12% |
| 14 | BAUSCH HEALTH COS INC | 071734107 | 41,070 | $285,437 | 0.03% |
| 15 | CARMAX INC | KMX | 6,520 | $251,933 | 0.03% |
| 16 | FERRARI N V | RACE | 100 | $36,956 | 0.00% |
| 17 | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | 100 | $30,389 | 0.00% |
| 18 | COCA COLA CO | KO | 100 | $6,991 | 0.00% |
| 19 | COCA COLA CO | KO | 20 | $1,398 | 0.00% |