BIGLARI CAPITAL CORP. Long-Term Concentrated

Location: San Antonio, TX

CIK: 0001334429 · Show all filings

Period: Q4 2025 (← Previous) (Next →)

Filing Date: Feb 17, 2026

Total Value: $933M (100.0% shares, 0.0% debt)

Holdings (12)

BH BIGLARI HLDGS INC 50.2%

Value $468M Shares 1,407,568 Share Price $332.43 Est. Cost/Share $210.64 Unrealized @ Report Date +59.4%

BH/A BIGLARI HLDGS INC 28.8%

Value $269M Shares 154,474 Share Price $1740.06 * Est. Cost/Share $919.48 Unrealized @ Report Date +80.8%

RACE FERRARI N V 8.9%

Value $83.37M Shares 225,581 Share Price $369.56 * Est. Cost/Share $308.71 Unrealized @ Report Date +29.6%

LOCO EL POLLO LOCO HLDGS INC 4.5%

Value $41.84M Shares 4,000,000 Share Price $10.46 Est. Cost/Share $9.67 Unrealized @ Report Date +6.9%

JACK JACK IN THE BOX INC 3.4%

Value $31.91M Shares 1,683,652 Share Price $18.95 * Est. Cost/Share $64.31 Unrealized @ Report Date -71.9%

WYNN WYNN RESORTS LTD 1.9%

Value $17.3M Shares 143,801 Share Price $120.33 * Est. Cost/Share $79.44 Unrealized @ Report Date +55.5%

CBRL CRACKER BARREL OLD CTRY STOR 1.6%

Value $14.86M Shares 585,000 Share Price $25.40 * Est. Cost/Share $59.07 Unrealized @ Report Date -46.3%

KMX CARMAX INC 0.5%

Value $4.846M Shares 125,420 Share Price $38.64 * Est. Cost/Share $74.22 Unrealized @ Report Date -46.1%

BRK/A BERKSHIRE HATHAWAY INC DEL 0.2%

Value $1.51M Shares 2 Share Price $754800.00 Est. Cost/Share $324481.38 Unrealized @ Report Date +130.0%

BHC BAUSCH HEALTH COS INC 0.0%

Value $285K Shares 41,070 Share Price $6.95 * Est. Cost/Share $22.90 Unrealized @ Report Date -71.3%

TSM TAIWAN SEMICONDUCTOR MFG LTD 0.0%

Value $30,389 Shares 100 Share Price $303.89 Est. Cost/Share $72.68 Unrealized @ Report Date —

KO COCA COLA CO 0.0%

Value $8,389 Shares 120 Share Price $69.91 Est. Cost/Share $53.47 Unrealized @ Report Date +29.8%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
BH	BIGLARI HLDGS INC	1,407,568	$468M	50.2%	$332.43	$210.64	+59.4%	COM STK CL B	08986R309
BH/A	BIGLARI HLDGS INC	154,474	$269M	28.8%	$1740.06 *	$919.48	+80.8%	COM STK CL A	08986R408
RACE	FERRARI N V	225,581	$83.37M	8.9%	$369.56 *	$308.71	+29.6%	COM	N3167Y103
LOCO	EL POLLO LOCO HLDGS INC	4,000,000	$41.84M	4.5%	$10.46	$9.67	+6.9%	COM	268603107
JACK	JACK IN THE BOX INC	1,683,652	$31.91M	3.4%	$18.95 *	$64.31	-71.9%	COM	466367109
WYNN	WYNN RESORTS LTD	143,801	$17.3M	1.9%	$120.33 *	$79.44	+55.5%	COM	983134107
CBRL	CRACKER BARREL OLD CTRY STOR	585,000	$14.86M	1.6%	$25.40 *	$59.07	-46.3%	COM	22410J106
KMX	CARMAX INC	125,420	$4.846M	0.5%	$38.64 *	$74.22	-46.1%	COM	143130102
BRK/A	BERKSHIRE HATHAWAY INC DEL	2	$1.51M	0.2%	$754800.00	$324481.38	+130.0%	CL A	084670108
BHC	BAUSCH HEALTH COS INC	41,070	$285K	0.0%	$6.95 *	$22.90	-71.3%	COM	071734107
TSM	TAIWAN SEMICONDUCTOR MFG LTD	100	$30,389	0.0%	$303.89	$72.68	—	SPONSORED ADS	874039100
KO	COCA COLA CO	120	$8,389	0.0%	$69.91	$53.47	+29.8%	COM	191216100