{
 "manager": "Biglari Capital",
 "page": "https://www.moatshark.com/m/biglari-capital",
 "form": "13F-HR",
 "period": "2026-06-30",
 "filed": "2026-08-14",
 "previous_period": "2026-03-31",
 "filing_url": "https://www.sec.gov/Archives/edgar/data/1334429/000092189526002189/0000921895-26-002189-index.htm",
 "total_value_usd": 1194657336,
 "note": "Source: SEC filings via moatshark. Values and changes are estimates; not investment advice.",
 "holdings": [
  {
   "company": "Biglari Holdings",
   "ticker": "BH",
   "moatshark_slug": "bh",
   "sector": "Consumer discretionary",
   "value_usd": 952337151,
   "shares": 1626711,
   "portfolio_pct": 79.72,
   "previous_pct": 79.23,
   "change": "ADD",
   "share_change_pct": 3.5,
   "quarters_held": 33
  },
  {
   "company": "Ferrari",
   "ticker": "RACE",
   "moatshark_slug": "race",
   "sector": "Consumer discretionary",
   "value_usd": 129177556,
   "shares": 346981,
   "portfolio_pct": 10.81,
   "previous_pct": 10.63,
   "change": "ADD",
   "share_change_pct": 18.8,
   "quarters_held": 16
  },
  {
   "company": "El Pollo Loco Holdings",
   "ticker": "LOCO",
   "moatshark_slug": "loco",
   "sector": "Consumer discretionary",
   "value_usd": 64064704,
   "shares": 3777400,
   "portfolio_pct": 5.36,
   "previous_pct": 5.97,
   "change": "REDUCE",
   "share_change_pct": -5.6,
   "quarters_held": 13
  },
  {
   "company": "Jack in the Box",
   "ticker": "JACK",
   "moatshark_slug": "jack",
   "sector": "Consumer discretionary",
   "value_usd": 26618538,
   "shares": 1683652,
   "portfolio_pct": 2.23,
   "previous_pct": 1.75,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 19
  },
  {
   "company": "Wynn Resorts",
   "ticker": "WYNN",
   "moatshark_slug": "wynn",
   "sector": "Consumer discretionary",
   "value_usd": 13961639,
   "shares": 143801,
   "portfolio_pct": 1.17,
   "previous_pct": 1.57,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 8
  },
  {
   "company": "Carmax",
   "ticker": "KMX",
   "moatshark_slug": "kmx",
   "sector": "Consumer discretionary",
   "value_usd": 6633464,
   "shares": 125420,
   "portfolio_pct": 0.56,
   "previous_pct": 0.56,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 16
  },
  {
   "company": "Berkshire Hathaway",
   "ticker": "BRK.B",
   "moatshark_slug": "brk-b",
   "sector": "Insurance",
   "value_usd": 1497700,
   "shares": 2,
   "portfolio_pct": 0.13,
   "previous_pct": 0.15,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 39
  },
  {
   "company": "Bausch Health Companies",
   "ticker": "BHC",
   "moatshark_slug": "bhc",
   "sector": "Health care",
   "value_usd": 202475,
   "shares": 41070,
   "portfolio_pct": 0.02,
   "previous_pct": 0.02,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 32
  },
  {
   "company": "Cracker Barrel Old Country Store",
   "ticker": "CBRL",
   "moatshark_slug": "cbrl",
   "sector": "Consumer discretionary",
   "value_usd": 106600,
   "shares": 2000,
   "portfolio_pct": 0.01,
   "previous_pct": 0.11,
   "change": "REDUCE",
   "share_change_pct": -94.4,
   "quarters_held": 52
  },
  {
   "company": "Taiwan Semiconductor Manufacturing",
   "ticker": "TSM",
   "moatshark_slug": "tsm",
   "sector": "Technology",
   "value_usd": 47757,
   "shares": 100,
   "portfolio_pct": 0,
   "previous_pct": 0,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 19
  },
  {
   "company": "Coca-Cola",
   "ticker": "KO",
   "moatshark_slug": "ko",
   "sector": "Consumer staples",
   "value_usd": 9752,
   "shares": 120,
   "portfolio_pct": 0,
   "previous_pct": 0,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 17
  }
 ]
}