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Livermore
Livermore
ZHEN

Biglari Capital Corp.

SEC CIK
0001334429
Latest filing
Aug 14, 2026

The latest 13F from Biglari Capital Corp. covers Q2 2026 (filed Aug 14, 2026): 12 long positions worth $1.19B. The top 10 holdings make up 100.0% of the portfolio, and the largest is Biglari Holdings Inc. (BH) at 52.5%. Livermore has 26 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
0
Added
2
Est. +$43.9M
Reduced
2
Est. −$5.58M
Sold out
0

Top 5 holdings

Share of this quarter's portfolio value

  1. BHBiglari Holdings Inc.
    52.5%$627.2MHistory
  2. BH.ABiglari Holdings Inc.
    27.2%$325.1MHistory
  3. RACEFerrari N.V.
    10.8%$129.2MHistory
  4. LOCOEl Pollo Loco Holdings, Inc.
    5.4%$64.1MHistory
  5. JACKJack in the Box Inc
    2.2%$26.6MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. BHBiglari Holdings Inc.
    +$23.4MAddedHistory
  2. RACEFerrari N.V.
    +$20.5MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. BHBiglari Holdings Inc.
    +2.24 pp50.3% → 52.5%History
  2. RACEFerrari N.V.
    +0.18 pp10.6% → 10.8%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. LOCOEl Pollo Loco Holdings, Inc.
    −$3.78MReducedHistory
  2. CBRLCracker Barrel Old Country Store, Inc
    −$1.80MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. LOCOEl Pollo Loco Holdings, Inc.
    −0.60 pp6.0% → 5.4%History
  2. CBRLCracker Barrel Old Country Store, Inc
    −0.10 pp0.1% → <0.1%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$1.19B
+$265.3M (+28.5%) vs. prior quarter
Positions
12
0 vs. prior quarter
Top 10 concentration
100.0%
Top 10 as share of value
Turnover
0.5%
Q2 2026, one quarter
Average holding period
20.6 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $1.19B (Q2 2026)

Q1 2021: $699.2MQ2 2021: $705.9MQ3 2021: $727.3MQ4 2021: $660.4MQ1 2022: $670.6MQ2 2022: $476.6MQ3 2022: $528.7MQ4 2022: $583.0MQ1 2023: $718.4MQ2 2023: $754.9MQ3 2023: $640.3MQ4 2023: $678.7MQ1 2024: $746.3MQ2 2024: $657.0MQ3 2024: $651.4MQ4 2024: $838.8MQ1 2025: $709.0MQ2 2025: $865.1MQ3 2025: $913.2MQ4 2025: $932.7MQ1 2026: $929.4MQ2 2026: $1.19B
Q1 2021Q2 2026
13F filings of Biglari Capital Corp. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 202612$1.19BBHBH.ARACEvs. Q1 2026SEC
Q1 2026May 15, 202612$929.4MBHBH.ARACEvs. Q4 2025SEC
Q4 2025Feb 17, 202612$932.7MBHBH.ARACEvs. Q3 2025SEC
Q3 2025Nov 14, 202512$913.2MBHBH.ARACEvs. Q2 2025SEC
Q2 2025Aug 14, 202512$865.1MBHBH.ARACEvs. Q1 2025SEC
Q1 2025May 15, 202513$709.0MBHBH.ACBRLvs. Q4 2024SEC
Q4 2024Feb 14, 202513$838.8MBHBH.ACBRLvs. Q3 2024SEC
Q3 2024Nov 14, 202413$651.4MBHBH.ACBRLvs. Q2 2024SEC
Q2 2024Aug 14, 202412$657.0MBHBH.ACBRLvs. Q1 2024SEC
Q1 2024May 15, 202412$746.3MBHCBRLBH.Avs. Q4 2023SEC
Q4 2023Feb 14, 202412$678.7MBHCBRLBH.Avs. Q3 2023SEC
Q3 2023Nov 14, 202312$640.3MBHCBRLBH.Avs. Q2 2023SEC
Q2 2023Aug 14, 202312$754.9MBHCBRLBH.Avs. Q1 2023SEC
Q1 2023May 15, 202312$718.4MCBRLBHBH.Avs. Q4 2022SEC
Q4 2022Feb 14, 202312$583.0MCBRLBHBH.Avs. Q3 2022SEC
Q3 2022Feb 10, 2023Amended11$528.7MCBRLBHBH.Avs. Q2 2022SECSEC
Q2 2022Feb 10, 2023Amended9$476.6MCBRLBHBH.Avs. Q1 2022SECSEC
Q1 2022Feb 10, 2023Amended9$670.6MCBRLBHBH.Avs. Q4 2021SECSEC
Q4 2021Feb 10, 2023Amended11$660.4MCBRLBHBH.Avs. Q3 2021SECSEC
Q3 2021Nov 15, 202112$727.3MCBRLBHBH.Avs. Q2 2021SEC
Q2 2021Aug 16, 202110$705.9MCBRLBHBH.Avs. Q1 2021SEC
Q1 2021May 17, 202110$699.2MCBRLBHBH.A–SEC

13D and 13G filings

Companies where Biglari Capital Corp. reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

1 company, largest stake first.

Companies where Biglari Capital Corp. owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
LOCOEl Pollo Loco Holdings, Inc.13D/A13.50%4.12M shares−1.60 ppfrom 15.10%Jul 28, 20237 filingsJul 2, 2026SEC

Latest filings

28 filings on file made by Biglari Capital Corp. or listing it as a reporting person; the latest 20 are shown.

Schedule 13D and 13G filings by Biglari Capital Corp.
CompanyFiled (ET)FilerFormStakeChangeEvent dateFiling
LOCOEl Pollo Loco Holdings, Inc.Jul 2, 20266:30 PM ETBiglari Capital Corp.and 6 others13D/A13.50%4.12M shares−1.60 ppfrom 15.10%Jun 30, 2026SEC
JACKJack in the Box IncJan 14, 20266:45 PM ETBiglari Holdings Inc.and 9 others13D/A9.98%1.88M shares0.00 ppfrom 9.98%Jan 12, 2026SEC
JACKJack in the Box IncDec 29, 20254:09 PM ETBiglari Holdings Inc.and 9 others13D/A9.98%1.88M shares0.00 ppfrom 9.98%Dec 23, 2025SEC
JACKJack in the Box IncNov 3, 20255:05 PM ETBiglari Holdings Inc.and 9 others13D/A9.98%1.88M shares0.00 ppfrom 9.98%Oct 31, 2025SEC
JACKJack in the Box IncJul 10, 20259:47 PM ETBiglari Holdings Inc.and 9 others13D9.98%1.88M shares–Jul 10, 2025SEC
CBRLCracker Barrel Old Country Store, IncJun 10, 20256:19 PM ETBiglari Capital Corp.and 7 others13D/A4.70%1.04M shares−0.50 ppfrom 5.20%Below 5%Jun 9, 2025SEC
CBRLCracker Barrel Old Country Store, IncMay 29, 20256:13 PM ETBiglari Capital Corp.and 7 others13D/A5.20%1.15M shares−1.50 ppfrom 6.70%May 27, 2025SEC
CBRLCracker Barrel Old Country Store, IncMay 21, 20257:57 PM ETBiglari Capital Corp.and 7 others13D/A6.70%1.49M shares–May 19, 2025SEC
LOCOEl Pollo Loco Holdings, Inc.Apr 7, 20254:30 PM ETBiglari Capital Corp.and 6 others13D/A15.10%4.49M shares+0.11 ppfrom 14.99%Apr 6, 2025SEC
LOCOEl Pollo Loco Holdings, Inc.Jan 27, 20255:03 PM ETBiglari Capital Corp.and 6 others13D14.99%4.49M shares–Jan 23, 2025SEC
BH.ABiglari Holdings Inc.Dec 20, 20245:03 PM ETLion Fund, L.P.and 2 others13D/A74.30%153.7K shares–Dec 17, 2024SEC
BHBiglari Holdings Inc.Nov 15, 2024Biglari Capital Corp.13D/AOld format–––SEC
CBRLCracker Barrel Old Country Store, IncOct 8, 2024Biglari Capital Corp.13D/AOld format–––SEC
CBRLCracker Barrel Old Country Store, IncSep 25, 2024Biglari Capital Corp.13D/AOld format–––SEC
LOCOEl Pollo Loco Holdings, Inc.Aug 27, 2024Biglari Capital Corp.13G/AOld format–––SEC
CBRLCracker Barrel Old Country Store, IncAug 20, 2024Biglari Capital Corp.13D/AOld format–––SEC
BHBiglari Holdings Inc.Mar 28, 2024Biglari Capital Corp.13D/AOld format–––SEC
LOCOEl Pollo Loco Holdings, Inc.Feb 14, 2024Biglari Capital Corp.13G/AOld format–––SEC
LOCOEl Pollo Loco Holdings, Inc.Aug 8, 2023Biglari Capital Corp.13G/AOld format–––SEC
LOCOEl Pollo Loco Holdings, Inc.Jul 28, 2023Biglari Capital Corp.13GOld format–New–SEC