Instuitional Investor - Biglari Capital Corp.

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Biglari Holdings Inc.	BH	1,417,285	$467,122,963	50.26%
2.	Biglari Holdings Inc.	BH	154,474	$269,201,689	28.97%
3.	Ferrari N.v.	RACE	291,981	$98,820,969	10.63%
4.	El Pollo Loco Holdings Inc.	LOCO	4,000,000	$55,440,000	5.97%
5.	Jack In The Box Inc	JACK	1,683,652	$16,280,915	1.75%