Q2 2026 13F · SEC CIK 1334429
Biglari Capital Corp.
Hedge fundFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗
- Reported 13F value
- $1.2B
- Reported positions
- 12
- Top holdings a year, 3 yrs
- +13.5%
- Assets under management
- $1.0B
Biglari Capital Corp. is a hedge fund that reported 12 positions worth $1.2B in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Biglari Hldgs Inc (BH, 52.5%), Biglari Cl A (BH-A, 27.2%), Ferrari N V (RACE, 10.8%). A portfolio copying its top holdings returned 13.5% a year over the last 3 years, against 20.4% for the S&P 500.
Biglari Capital Corp. holdings all 12 positions.
Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.
| Stock | % of 13F value | Share change | Reported value |
|---|---|---|---|
| BHBiglari Hldgs Inc | 52.5% | +3.9% | $627.2M |
| BH-ABiglari Cl A | 27.2% | +0.0% | $325.1M |
| RACEFerrari N V | 10.8% | +18.8% | $129.2M |
| LOCOEl Pollo Loco Hldgs Inc | 5.4% | -5.6% | $64.1M |
| JACKJack in the Box Inc | 2.2% | +0.0% | $26.6M |
| WYNNWynn Resorts Ltd | 1.2% | +0.0% | $14.0M |
| KMXCarmax Inc | 0.6% | +0.0% | $6.6M |
| BRK-ABerkshire Hathaway Inc Del | 0.1% | +0.0% | $1.5M |
| BHCBausch Health Cos Inc | 0.0% | +0.0% | $202K |
| CBRLCracker Barrel Old Country Sto | 0.0% | -94.4% | $107K |
| TSMTaiwan Semiconductor Manufac | 0.0% | +0.0% | $48K |
| KOCoca Cola Co | 0.0% | +0.0% | $10K |
What Biglari Capital Corp. bought and sold in Q2 2026, against Q1 2026.
New positions
No new positions among the largest holdings.
Added to
- RACE Ferrari N V+18.8% shares
Reduced
- CBRL Cracker Barrel Old Country Sto-94.4% shares
- LOCO El Pollo Loco Hldgs Inc-5.6% shares
Sold out
Nothing sold out.
Share counts compared with the Q1 2026 13F; a split also changes share counts.
How the holdings did against the S&P 500.
- 1 year
- +18.1% /yr
- S&P 500 +20.1%
- 3 years
- +13.5% /yr
- S&P 500 +20.4%
- 5 years
- +6.4% /yr
- S&P 500 +11.6%
A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.
Reported 13F value by quarter.
| Quarter | 13F value | Positions |
|---|---|---|
| Q2 2026 | $1.2B | 12 |
| Q1 2026 | $929.4M | 12 |
| Q4 2025 | $932.7M | 12 |
| Q3 2025 | $913.2M | 12 |
| Q2 2025 | $865.1M | 12 |
| Q1 2025 | $709.0M | 13 |
| Q4 2024 | $838.8M | 13 |
| Q3 2024 | $651.4M | 13 |
| Q2 2024 | $657.0M | 12 |
| Q1 2024 | $746.3M | 12 |
| Q4 2023 | $678.7M | 12 |
| Q3 2023 | $640.3M | 12 |
Questions about Biglari Capital Corp.'s portfolio
What stocks does Biglari Capital Corp. own?
Biglari Capital Corp.'s latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 12 positions worth $1.2B. The largest are Biglari Hldgs Inc (BH) at 52.5%, Biglari Cl A (BH-A) at 27.2%, Ferrari N V (RACE) at 10.8%, El Pollo Loco Hldgs Inc (LOCO) at 5.4% and Jack in the Box Inc (JACK) at 2.2%.
What did Biglari Capital Corp. buy last quarter?
In Q2 2026, Biglari Capital Corp. added Ferrari N V (RACE) (+18.8% shares), compared with its Q1 2026 filing.
What did Biglari Capital Corp. sell last quarter?
In Q2 2026, Biglari Capital Corp. Cracker Barrel Old Country Sto (CBRL) (-94.4% shares) and El Pollo Loco Hldgs Inc (LOCO) (-5.6% shares), compared with its Q1 2026 filing.
How has Biglari Capital Corp.'s portfolio performed?
A portfolio copying Biglari Capital Corp.'s 20 largest 13F holdings each quarter, from the day each filing was public, returned +13.5% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +18.1% against +20.1%. Over 5 years: +6.4% a year against +11.6%.
When is Biglari Capital Corp.'s next 13F filing due?
13F filings are due 45 days after each quarter ends. Biglari Capital Corp.'s filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.
How much money does Biglari Capital Corp. manage?
Biglari Capital Corp. reported $1.0B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $1.2B.