WhaleCreep

Biglari Capital Corp. 13F holdings, Q1 2023

Hedge fundSEC filingsCompare with another fundHoldings as of 2023-03-31, filed 2023-05-15

Biglari Capital Corp. disclosed 12 US equity positions worth $718.4m in its Q1 2023 13F filing. Its largest position is CBRL at 31.6% of the reported book, followed by BH and BH/A. Versus Q4 2022 it opened 0 new positions, added to 2, reduced 0 and exited 0.

$718m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
12
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
31.6%
Largest position
The largest single position as a share of the reported equity book.
99.9%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
4
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 Q4 2022: 0 new, 2 added, 0 reduced, 0 exited

12 rows
CBRL CRACKER BARREL OLD CTRY STORConsumer Cyclical31.6%$227m2.00m0.0%held
BH BIGLARI HLDGS INCConsumer Cyclical31.3%$225m1.33m0.0%held
BH/A BIGLARI HLDGS INC–16.9%$121m145,7000.0%held
JACK JACK IN THE BOX INCConsumer Cyclical13.1%$94.1m1.07m+8.2%added
RACE FERRARI N VConsumer Cyclical4.5%$32.1m118,3000.0%held
TSM TAIWAN SEMICONDUCTOR MANUFACTechnology0.9%$6.8m73,272+17%added
KMX CARMAX INCConsumer Cyclical0.8%$5.7m88,2200.0%held
BHC BAUSCH HEALTH COS INCHealthcare0.4%$3.2m395,0000.0%held
BABA ALIBABA GROUP HLDG LTDConsumer Cyclical0.3%$1.9m19,0000.0%held
BRK/A BERKSHIRE HATHAWAY INC DEL–0.1%$931k20.0%held
UNAMUSD UNICO AMERN CORP–0.08%$569k527,1000.0%held
KO COCA COLA COConsumer Defensive0.0%$7.4k1200.0%held

Sector mix

  • Consumer Cyclical81.5%
  • Unclassified17.1%
  • Technology0.9%
  • Healthcare0.4%
  • Consumer Defensive0.0%

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