Biglari Capital Amends 13D Filing for Biglari Holdings

TL;DR

Biglari Capital just updated their stake in Biglari Holdings - check the 13D filing!

AI Summary

Biglari Capital Corp. filed an amendment (No. 48) to its Schedule 13D on November 15, 2024, regarding its holdings in Biglari Holdings Inc. The filing indicates a change in the reporting person's beneficial ownership of the Class A Common Stock. Sardar Biglari is listed as a key individual associated with Biglari Capital Corp.

Why It Matters

This amendment signals a potential shift in the ownership structure or strategy of Biglari Holdings Inc., which could impact its stock price and future corporate actions.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate significant changes in beneficial ownership, which can lead to increased stock volatility.

Key Players & Entities

• Biglari Capital Corp. (company) — Reporting person filing the amendment
• Biglari Holdings Inc. (company) — Subject company of the filing
• Sardar Biglari (person) — Key individual associated with Biglari Capital Corp.

FAQ

Key Financial Figures

• $3,552,832 — for an aggregate cost of approximately $3,552,832. The Shares purchased by the Lion Fund
• $876.75 — ple transactions at prices ranging from $876.75 to $925.00 per share. The Reporting Per
• $925.00 — tions at prices ranging from $876.75 to $925.00 per share. The Reporting Persons undert
• $934.99 — ple transactions at prices ranging from $934.99 to $1,017.00 per share. The Reporting P
• $1,017.00 — tions at prices ranging from $934.99 to $1,017.00 per share. The Reporting Persons undert
• $1,020.00 — ple transactions at prices ranging from $1,020.00 to $1,050.00 per share. The Reporting P
• $1,050.00 — ons at prices ranging from $1,020.00 to $1,050.00 per share. The Reporting Persons undert
• $1,040.00 — ple transactions at prices ranging from $1,040.00 to $1,050.00 per share. The Reporting P

Filing Documents

• sc13da4808106003_11152024.htm (SC 13D/A) — 99KB
• 0000921895-24-002755.txt ( ) — 101KB

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration.

is hereby amended

Item 3 is hereby amended and supplemented as follows: Subsequent to filing Amendment No. 47 to the Schedule 13D, the Lion Fund acquired an aggregate of 3,543 Shares for an aggregate cost of approximately $3,552,832. The Shares purchased by the Lion Fund were purchased with its working capital in open market purchases.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer. Items 5(a)-(c) are hereby amended and restated to read as follows: The aggregate percentage of Shares reported owned by the Reporting Persons is based upon 206,864 Shares outstanding, which is the total number of Shares outstanding as of November 5, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 8, 2024. As of the close of business on November 15, 2024, (i) the Lion Fund owned directly 125,700.7 Shares, constituting approximately 60.8% of the Shares outstanding; (ii) BCC owned directly 25,663.1 Shares, and by virtue of its relationship with the Lion Fund, BCC may be deemed to beneficially own the 125,700.7 Shares owned directly by the Lion Fund, constituting approximately 73.2% of the Shares outstanding; and (iii) Mr. Biglari owned directly 0.1 Share, and by virtue of his relationship with the other Reporting Persons, Mr. Biglari may be deemed to beneficially own, and have the sole power to vote and dispose of, the 125,700.7 Shares owned directly by the Lion Fund and the 25,663.1 Shares owned directly by BCC, constituting approximately 73.2% of the Shares outstanding. Schedule A annexed hereto lists all transactions in securities of the Issuer by the Reporting Persons during the past sixty days. The filing of this Schedule 13D shall not be deemed an admission that any of the Reporting Persons is, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owner of any Shares he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the Shares reported herein that he or it does not directly own. 5 CUSIP No. 08986R408 SIGNATURE After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. November 15, 2024 (Date) THE

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View this SC 13D/A filing on SEC EDGAR