BIGLARI CAPITAL CORP. Long-Term Concentrated

CIK: 0001334429 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $932,665 (100.0% shares, 0.0% debt)

Holdings (12)

Increased Positions (1)

RACE FERRARI N V 8.9%

Value ($000) $83,366 (-17.2%) Shares 225,581 (+8.7%) Est. Cost $308.71 Unrealized +29.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RACE	FERRARI N V	225,581 (+8.7%)	$83,366 (-17.2%)	8.9%	$308.71	+29.6%	COM	N3167Y103

Unchanged Positions (11)

BH/A BIGLARI HLDGS INC 28.8%

Value ($000) $268,794 Shares 154,474 Est. Cost $919.48 Unrealized +80.8%

BH BIGLARI HLDGS INC 50.2%

Value ($000) $467,918 Shares 1,407,568 Est. Cost $210.64 Unrealized +59.4%

CBRL CRACKER BARREL OLD CTRY STOR 1.6%

Value ($000) $14,859 Shares 585,000 Est. Cost $59.07 Unrealized -46.3%

LOCO EL POLLO LOCO HLDGS INC 4.5%

Value ($000) $41,840 Shares 4,000,000 Est. Cost $9.67 Unrealized +6.9%

JACK JACK IN THE BOX INC 3.4%

Value ($000) $31,905 Shares 1,683,652 Est. Cost $64.31 Unrealized -71.9%

WYNN WYNN RESORTS LTD 1.9%

Value ($000) $17,304 Shares 143,801 Est. Cost $79.44 Unrealized +55.5%

KMX CARMAX INC 0.5%

Value ($000) $4,846 Shares 125,420 Est. Cost $74.22 Unrealized -46.1%

BHC BAUSCH HEALTH COS INC 0.0%

Value ($000) $285 Shares 41,070 Est. Cost $22.90 Unrealized -71.3%

TSM TAIWAN SEMICONDUCTOR MFG LTD 0.0%

Value ($000) $30 Shares 100 Est. Cost $72.68 Unrealized —

BRK/A BERKSHIRE HATHAWAY INC DEL 0.2%

Value ($000) $1,510 Shares 2 Est. Cost $324481.38 Unrealized +130.0%

KO COCA COLA CO 0.0%

Value ($000) $8 Shares 120 Est. Cost $53.47 Unrealized +29.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BH/A	BIGLARI HLDGS INC	154,474	$268,794	28.8%	$919.48	+80.8%	COM STK CL A	08986R408
BH	BIGLARI HLDGS INC	1,407,568	$467,918	50.2%	$210.64	+59.4%	COM STK CL B	08986R309
CBRL	CRACKER BARREL OLD CTRY STOR	585,000	$14,859	1.6%	$59.07	-46.3%	COM	22410J106
LOCO	EL POLLO LOCO HLDGS INC	4,000,000	$41,840	4.5%	$9.67	+6.9%	COM	268603107
JACK	JACK IN THE BOX INC	1,683,652	$31,905	3.4%	$64.31	-71.9%	COM	466367109
WYNN	WYNN RESORTS LTD	143,801	$17,304	1.9%	$79.44	+55.5%	COM	983134107
KMX	CARMAX INC	125,420	$4,846	0.5%	$74.22	-46.1%	COM	143130102
BHC	BAUSCH HEALTH COS INC	41,070	$285	0.0%	$22.90	-71.3%	COM	071734107
TSM	TAIWAN SEMICONDUCTOR MFG LTD	100	$30	0.0%	$72.68	—	SPONSORED ADS	874039100
BRK/A	BERKSHIRE HATHAWAY INC DEL	2	$1,510	0.2%	$324481.38	+130.0%	CL A	084670108
KO	COCA COLA CO	120	$8	0.0%	$53.47	+29.8%	COM	191216100