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BIGLARI CAPITAL CORP.

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13F filer, CIK 1334429, San Antonio, TX

BIGLARI CAPITAL CORP. reported $932,665,244 across 12 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 100% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000921895-26-000460

Period
2025-12-31
Reported value
$933M
Holdings
12
Top 10 weight
100%
New
0
Sold out
0

Part of the filer group BIGLARI CAPITAL CORP.

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
RACEadded+17,981$6.65M
BHadded+13,131$4.37M
BH-Aadded+797$1.39M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

None.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0000921895-26-000460, largest first. % of portfolio is the value over $932,665,244, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
BHBIGLARI HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,349,071 shares; 2024Q4: 1,394,437 shares; 2025Q1: 1,394,437 shares; 2025Q2: 1,394,437 shares; 2025Q3: 1,394,437 shares; 2025Q4: 1,407,568 shares 1,407,568$468M50.17%+13,131Timeline
BH-ABIGLARI HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 147,820 shares; 2024Q4: 153,677 shares; 2025Q1: 153,677 shares; 2025Q2: 153,677 shares; 2025Q3: 153,677 shares; 2025Q4: 154,474 shares 154,474$269M28.82%+797Timeline
RACEFERRARI N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 153,500 shares; 2024Q4: 153,500 shares; 2025Q1: 153,500 shares; 2025Q2: 184,500 shares; 2025Q3: 207,600 shares; 2025Q4: 225,581 shares 225,581$83.4M8.94%+17,981Timeline
LOCOEL POLLO LOCO HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,000,000 shares; 2024Q4: 4,000,000 shares; 2025Q1: 4,000,000 shares; 2025Q2: 4,000,000 shares; 2025Q3: 4,000,000 shares; 2025Q4: 4,000,000 shares 4,000,000$41.8M4.49%0Timeline
JACKJACK IN THE BOX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,073,883 shares; 2024Q4: 1,073,883 shares; 2025Q1: 1,073,883 shares; 2025Q2: 1,683,652 shares; 2025Q3: 1,683,652 shares; 2025Q4: 1,683,652 shares 1,683,652$31.9M3.42%0Timeline
WYNNWYNN RESORTS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 138,801 shares; 2024Q4: 138,801 shares; 2025Q1: 138,801 shares; 2025Q2: 143,801 shares; 2025Q3: 143,801 shares; 2025Q4: 143,801 shares 143,801$17.3M1.86%0Timeline
CBRLCRACKER BARREL OLD CTRY STORQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,000,000 shares; 2024Q4: 2,000,000 shares; 2025Q1: 2,000,000 shares; 2025Q2: 896,775 shares; 2025Q3: 585,000 shares; 2025Q4: 585,000 shares 585,000$14.9M1.59%0Timeline
KMXCARMAX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 125,420 shares; 2024Q4: 125,420 shares; 2025Q1: 125,420 shares; 2025Q2: 125,420 shares; 2025Q3: 125,420 shares; 2025Q4: 125,420 shares 125,420$4.85M0.52%0Timeline
BRK-ABERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2 shares; 2024Q4: 2 shares; 2025Q1: 2 shares; 2025Q2: 2 shares; 2025Q3: 2 shares; 2025Q4: 2 shares 2$1.51M0.16%0Timeline
BHCBAUSCH HEALTH COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 395,000 shares; 2024Q4: 295,000 shares; 2025Q1: 100,070 shares; 2025Q2: 41,070 shares; 2025Q3: 41,070 shares; 2025Q4: 41,070 shares 41,070$285K0.03%0Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 100 shares; 2024Q4: 100 shares; 2025Q1: 100 shares; 2025Q2: 100 shares; 2025Q3: 100 shares; 2025Q4: 100 shares 100$30.4K<0.01%0Timeline
KOCOCA COLA COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 120 shares; 2024Q4: 120 shares; 2025Q1: 120 shares; 2025Q2: 120 shares; 2025Q3: 120 shares; 2025Q4: 120 shares 120$8.39K<0.01%0Timeline

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0000921895-26-000460 base2026-02-17acceptance time not in the bulk data set