BIGLARI CAPITAL CORP.

Q4 2018 13F Holdings Report, Stock Holdings

Signature - Title
Sardar Biglari - Chairman and Chief Executive Officer
Location
San Antonio, TX
Holdings as of
December 31, 2018
Value $
$910M
Num holdings
11
Date filed
2/14/2019, 04:59 PM
Description
All US holdings of this investor are reported in this report. Confidential Treatment Requested (one or more holding(s) omitted)
Previous filing
Q3 2018 - Nov 14, 2018
Sym Weight Trade Impact Company Class Shares Change Activity Value Change $ Value $ * Price $ Shares Principal
Filing 2018 Q4 compared to 2018 Q3 by default.
* Reported Price is the price of the security as of the portfolio date. This value is significant in that it is the last known price at which the security was still held.
An asterisk sign (*) next to the price indicates that the price is likely invalid.

Confidential Treatment Requested. (The Manager has omitted from this public Form 13F one or more holding(s) for which it is requesting confidential treatment from the U.S. Securities and Exchange Commission pursuant to section 13(f) of the Exchange Act and rule 24b-2 thereunder)

Person Signing this Report on Behalf of Reporting Manager:

Name Title City, State Date
Sardar Biglari Chairman and Chief Executive Officer San Antonio, Texas 2/14/2019

The Lion Fund, L.P. holds 36,571.7 shares of Biglari Holdings Inc. Class A Common Stock with sole voting authority of all 36,571.7 shares. Biglari Capital Corp. holds 8,578.1 shares of Biglari Holdings Inc. Class A Common Stock with sole voting authority of all 8,578.1 shares. The table does not have space to show fractional shares, therefore the fractional shares have been rounded to the nearest whole number.

Other Included Managers (3):

Num Name File Number
1 BIGLARI, SARDAR 028-14882
2 LION FUND, L.P. 028-15398
3 LION FUND II, L.P. 028-16045