WhaleCreep

Biglari Capital Corp. 13F holdings, Q4 2019

Hedge fundSEC filingsCompare with another fundHoldings as of 2019-12-31, filed 2020-02-14

Biglari Capital Corp. disclosed 10 US equity positions worth $586.5m in its Q4 2019 13F filing. Its largest position is CBRL at 52.4% of the reported book, followed by BH and BH/A. Versus Q3 2019 it opened 1 new position, added to 2, reduced 0 and exited 3.

$587m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
10
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
52.4%
Largest position
The largest single position as a share of the reported equity book.
100.0%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
3
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
52
Quarters on file since Q3 2013
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q3 2019: 1 new, 2 added, 0 reduced, 3 exited

10 rows
CBRL CRACKER BARREL OLD CTRY STORConsumer Cyclical52.4%$307m2.00m0.0%held
BH BIGLARI HLDGS INCConsumer Cyclical22.4%$131m1.15m+0.4%held
BH/A BIGLARI HLDGS INC–13.6%$79.9m133,172+8.6%added
TIFEUR TIFFANY & CO NEW–8.5%$50.1m375,0000.0%held
BHC BAUSCH HEALTH COS INCHealthcare2.0%$11.8m395,0000.0%held
UNAMUSD UNICO AMERN CORP–0.6%$3.3m527,1000.0%held
ET ENERGY TRANSFER LPEnergy0.2%$943k73,477–new
AXASEUR ABRAXAS PETE CORP–0.1%$805k2.29m+858%added
BRK/A BERKSHIRE HATHAWAY INC DEL–0.1%$679k20.0%held
EA ELECTRONIC ARTS INCCommunication Services0.04%$226k2,1000.0%held

Exited since Q3 2019

3 rows
SEMGUSD SEMGROUP CORP0.3%$1.6m
DKL DELEK LOGISTICS PARTNERS LP0.2%$1.4m
ITIC INVESTORS TITLE CO0.04%$212k

Sector mix

  • Consumer Cyclical74.8%
  • Unclassified23.0%
  • Healthcare2.0%
  • Energy0.2%
  • Communication Services0.04%

Book over time

Every quarter on file (52)
QuarterPositionsEquity book
Q2 202612$1.2bn
Q1 202612$929m
Q4 202512$933m
Q3 202512$913m
Q2 202512$865m
Q1 202513$709m
Q4 202413$839m
Q3 202413$651m
Q2 202412$657m
Q1 202412$746m
Q4 202312$679m
Q3 202312$640m
Q2 202312$755m
Q1 202312$718m
Q4 202212$583m
Q3 202211$529m
Q2 20229$477m
Q1 20229$671m
Q4 202111$660m
Q3 202112$727m
Q2 202110$706m
Q1 202110$699m
Q4 202010$562m
Q3 202010$498m
Q2 20209$426m
Q1 202010$295m
Q4 201910$587m
Q3 201912$570m
Q2 201911$746m
Q1 201910$875m
Q4 201811$910m
Q3 201810$1.0bn
Q2 201810$1.1bn
Q1 20187$1.2bn
Q4 20177$1.2bn
Q3 20177$1.1bn
Q2 20177$1.2bn
Q1 20178$1.2bn
Q4 20168$1.3bn
Q3 20168$1.1bn
Q2 201610$1.3bn
Q1 201610$1.1bn
Q4 201510$965m
Q3 20159$1.1bn
Q2 20157$878m
Q1 20157$889m
Q4 20147$815m
Q3 20145$595m
Q2 20145$581m
Q1 20145$510m
Q4 20135$566m
Q3 20134$515m

Where Biglari Capital Corp. was early

4 rows
FAST FASTENAL COQ4 201411 of 1420.05%1.4%4Exited by Q4 2015−23%
BH BIGLARI HLDGS INCQ2 20181 of 4219.0%52.5%33Held at last filing, Q2 2026+132%
BH/A BIGLARI HLDGS INCQ2 20181 of 2410.2%29.0%33Held at last filing, Q2 2026+122%
BHC BAUSCH HEALTH COS INCQ3 201813 of 1541.0%2.1%32Held at last filing, Q2 2026−81%

Concentration and tenure

54.4%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
100%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
5
Median completed holding, quarters