Biglari Capital Corp.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Biglari Capital Corp. reported 13 stock positions worth $838.8 million. Its top holding was Biglari Class B (BH) at 42.3% of the portfolio, followed by Biglari Class A (BH.A, 23.4%) and Cracker Barrel Old Country (CBRL, 12.6%). Compared with Q3 2024, it added to 2 and reduced 2. The biggest buy was Biglari Class B (BH, shares +3%) and the biggest sale Bausch Health Cos (BHC, shares −25%).
- Most Recent 13F
- Q2 2026
- Location
- San Antonio, TX
- CIK
- 0001334429
- Portfolio Value
- $838.8M (Q4 2024)
- SEC Filing
- 0000921895-25-000484 ↗ filed Feb 14, 2025
Holdings Value
Holdings 13 stocks · $838.8M
| BH Biglari Holdings Inc. Class B | 42.28% | 1,394,437 | $354.6M | Add +3.4% |
| BH.A Biglari Holdings Inc. Class A | 23.36% | 153,677 | $195.9M | Add +4.0% |
| CBRL Cracker Barrel Old Country | 12.60% | 2,000,000 | $105.7M | No change |
| RACE Ferrari NV | 7.78% | 153,500 | $65.2M | No change |
| LOCO El Pollo Loco Holdings Inc. | 5.50% | 4,000,000 | $46.2M | No change |
| JACK Jack in the Box Inc. | 5.33% | 1,073,883 | $44.7M | No change |
| WYNN WYNN Resorts Ltd. | 1.43% | 138,801 | $12.0M | No change |
| KMX Carmax Inc. | 1.22% | 125,420 | $10.3M | No change |
| BHC Bausch Health Cos Inc. | 0.28% | 295,000 | $2.4M | Reduce -25.3% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.16% | 2 | $1.4M | No change |
| BABA Alibaba Group Holding-SP ADR | 0.05% | 5,000 | $424K | Reduce -50.0% |
| TSM Taiwan Semiconductor-SP ADR | 0.00% | 100 | $20K | No change |
| KO The Coca-Cola Co. | 0.00% | 120 | $7K | No change |
Portfolio Sells Q3 2024 → Q4 2024
Portfolio Buys Q3 2024 → Q4 2024
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 12 | $1.2B | BH, BH.A, RACE, LOCO, JACK |
| Q1 2026 | 12 | $929.4M | BH, BH.A, RACE, LOCO, JACK |
| Q4 2025 | 12 | $932.7M | BH, BH.A, RACE, LOCO, JACK |
| Q3 2025 | 12 | $913.2M | BH, BH.A, RACE, LOCO, JACK |
| Q2 2025 | 12 | $865.1M | BH, BH.A, RACE, CBRL, LOCO |
| Q1 2025 | 13 | $709.0M | BH, BH.A, CBRL, RACE, LOCO |
| Q4 2024 | 13 | $838.8M | BH, BH.A, CBRL, RACE, LOCO |
| Q3 2024 | 13 | $651.4M | BH, BH.A, CBRL, RACE, LOCO |
| Q2 2024 | 12 | $657.0M | BH, BH.A, CBRL, RACE, JACK |
| Q1 2024 | 12 | $746.3M | BH, CBRL, BH.A, JACK, RACE |