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organization · Reporting owner

LION FUND, L.P.

Disclosed activity across 1 company

Tapewire entity
40838
SEC CIK
0001334426

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Reported relationships

Latest disclosed role at each company.

CompanyLast reported asReport datePublished
Biglari Holdings Inc.BH · Entity 480910% ownerJune 04, 2026June 05, 2026

Disclosed balances

About these balances

Latest available filing per company, not a reconstructed current portfolio. Matching sequences show the last reported balance with all source rows expandable; grouping alone does not establish account ownership. Do not add unresolved positions together. Filings may omit unchanged positions, and amendments may correct only part of an older disclosure. Jointly reported shares are not necessarily this owner's personal holdings.

Biglari Holdings Inc.

Report date June 04, 2026 · Filed June 05, 2026

Jointly reported with BIGLARI, SARDAR, BIGLARI CAPITAL CORP.

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Class B common stockSEC Table I · non-derivativeIndirectBy The Lion Fund, L.P.1,400,382 Last balance in matching sequence After 2026-06-05 transaction · row 2 Source-order balances reconcile. Account continuity and personal attribution are not independently verified.
2 source rows

Row 1 · 2026-06-04 · Purchase · Acquired 1,743 · Balance 1,399,847

F3: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $284.99 to $287.50. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2: Shares owned directly by The Lion Fund, L.P. (the "Lion Fund"). BCC is the general partner of the Lion Fund. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund.

Row 2 · 2026-06-05 · Purchase · Acquired 535 · Balance 1,400,382

F4: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $293.34 to $298.81. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2: Shares owned directly by The Lion Fund, L.P. (the "Lion Fund"). BCC is the general partner of the Lion Fund. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund.

Class A common stockSEC Table I · non-derivativeIndirectBy The Lion Fund, L.P.128,811.7 Reported balance Holding disclosure · report date 2026-06-04 · row 3 Holding and transaction disclosures are not merged.
1 source row

Row 3 · Balance 128,811.7

F2: Shares owned directly by The Lion Fund, L.P. (the "Lion Fund"). BCC is the general partner of the Lion Fund. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund.

Class A common stockSEC Table I · non-derivativeDirect0.1 Reported balance Holding disclosure · report date 2026-06-04 · row 4 Holding and transaction disclosures are not merged.
1 source row

Row 4 · Balance 0.1

Class A common stockSEC Table I · non-derivativeIndirectBy Biglari Capital Corp.25,663.1 Reported balance Holding disclosure · report date 2026-06-04 · row 5 Holding and transaction disclosures are not merged.
1 source row

Row 5 · Balance 25,663.1

F1: Shares owned directly by Biglari Capital Corp. ("BCC"), including shares of Class A and Class B common stock of the Issuer transferred for no consideration by Sardar Biglari to BCC. Mr. Biglari may be deemed a beneficial owner of the shares of Class A and Class B common stock of the Issuer owned directly by BCC.

Class B common stockSEC Table I · non-derivativeDirect1 Reported balance Holding disclosure · report date 2026-06-04 · row 6 Holding and transaction disclosures are not merged.
1 source row

Row 6 · Balance 1

Class B common stockSEC Table I · non-derivativeIndirectBy Biglari Capital Corp.71,855 Reported balance Holding disclosure · report date 2026-06-04 · row 7 Holding and transaction disclosures are not merged.
1 source row

Row 7 · Balance 71,855

F1: Shares owned directly by Biglari Capital Corp. ("BCC"), including shares of Class A and Class B common stock of the Issuer transferred for no consideration by Sardar Biglari to BCC. Mr. Biglari may be deemed a beneficial owner of the shares of Class A and Class B common stock of the Issuer owned directly by BCC.

Filing footnotes · ownership attribution and instrument terms

F1: Shares owned directly by Biglari Capital Corp. ("BCC"), including shares of Class A and Class B common stock of the Issuer transferred for no consideration by Sardar Biglari to BCC. Mr. Biglari may be deemed a beneficial owner of the shares of Class A and Class B common stock of the Issuer owned directly by BCC.

F2: Shares owned directly by The Lion Fund, L.P. (the "Lion Fund"). BCC is the general partner of the Lion Fund. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund.

F3: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $284.99 to $287.50. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F4: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $293.34 to $298.81. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

Transaction history

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Purchases/sales include open-market and private transactions. Plan disclosure applies to the filing; individual rows may differ. “Not disclosed” is not “unplanned.”

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Transaction dateCompanyActivity / securityShares / unitsReported priceReported valueDetails
June 14, 2021 Filed Jun 14, 2021 23:11 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 38 $905.00 $34,390.00
Disclosure

SEC source: 0000921895-21-001619 · form408106003_06142021.xml · nonDerivative · entry 5

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 81,501

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
June 11, 2021 Filed Jun 14, 2021 23:11 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 537 $915.33 $491,532.21
Disclosure

SEC source: 0000921895-21-001619 · form408106003_06142021.xml · nonDerivative · entry 4

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 81,463

F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $905.00 to $920.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
June 10, 2021 Filed Jun 14, 2021 23:11 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 245 $899.89 $220,473.05
Disclosure

SEC source: 0000921895-21-001619 · form408106003_06142021.xml · nonDerivative · entry 3

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 80,926

F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $892.50 to $900.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
June 08, 2021 Filed Jun 8, 2021 22:13 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 102 $910.96 $92,917.92
Disclosure

SEC source: 0000921895-21-001561 · form408106003_06082021.xml · nonDerivative · entry 5

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 80,681

F6 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $900.00 to $916.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
June 07, 2021 Filed Jun 8, 2021 22:13 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 1,300 $867.20 $1,127,360.00
Disclosure

SEC source: 0000921895-21-001561 · form408106003_06082021.xml · nonDerivative · entry 4

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 80,579

F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $800.00 to $900.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
June 04, 2021 Filed Jun 8, 2021 22:13 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 373 $816.81 $304,670.13
Disclosure

SEC source: 0000921895-21-001561 · form408106003_06082021.xml · nonDerivative · entry 3

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 79,279

F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $808.05 to $820.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
June 02, 2021 Filed Jun 3, 2021 00:31 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 227 $855.19 $194,128.13
Disclosure

SEC source: 0000921895-21-001536 · form408106003_06022021.xml · nonDerivative · entry 5

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 78,906

F6 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $845.00 to $860.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
June 01, 2021 Filed Jun 3, 2021 00:31 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 421 $846.20 $356,250.20
Disclosure

SEC source: 0000921895-21-001536 · form408106003_06022021.xml · nonDerivative · entry 4

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 78,679

F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $827.50 to $860.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
May 28, 2021 Filed Jun 3, 2021 00:31 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 71 $807.57 $57,337.47
Disclosure

SEC source: 0000921895-21-001536 · form408106003_06022021.xml · nonDerivative · entry 3

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 78,258

F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $796.85 to $810.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
May 17, 2021 Filed May 19, 2021 22:59 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 135 $770.00 $103,950.00
Disclosure

SEC source: 0000921895-21-001422 · form408106003_05192021.xml · nonDerivative · entry 3

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 78,187

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
May 13, 2021 Filed May 13, 2021 23:16 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass B common stock 2,311 $150.63 $348,105.93
Disclosure

SEC source: 0000921895-21-001305 · form408106003_05132021.xml · nonDerivative · entry 11

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 837,559

F7 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $147.80 to $152.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
May 13, 2021 Filed May 13, 2021 23:16 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass B common stock 15,000 $148.00 $2,220,000.00
Disclosure

SEC source: 0000921895-21-001305 · form408106003_05132021.xml · nonDerivative · entry 10

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 835,248

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
May 13, 2021 Filed May 13, 2021 23:16 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 145 $766.01 $111,071.45
Disclosure

SEC source: 0000921895-21-001305 · form408106003_05132021.xml · nonDerivative · entry 4

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 78,052

F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $754.53 to $770.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
May 12, 2021 Filed May 13, 2021 23:16 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass B common stock 200 $148.00 $29,600.00
Disclosure

SEC source: 0000921895-21-001305 · form408106003_05132021.xml · nonDerivative · entry 9

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 820,248

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
May 11, 2021 Filed May 13, 2021 23:16 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass B common stock 1,800 $155.82 $280,476.00
Disclosure

SEC source: 0000921895-21-001305 · form408106003_05132021.xml · nonDerivative · entry 8

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 820,048

F6 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $154.00 to $159.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
May 11, 2021 Filed May 13, 2021 23:16 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 544 $780.50 $424,592.00
Disclosure

SEC source: 0000921895-21-001305 · form408106003_05132021.xml · nonDerivative · entry 3

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 77,907

F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $766.49 to $795.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
March 11, 2021 Filed Mar 15, 2021 23:42 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 275 $747.36 $205,524.00
Disclosure

SEC source: 0000921895-21-000746 · form408106003_03152021.xml · nonDerivative · entry 3

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 77,363

F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $734.99 to $750.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
March 08, 2021 Filed Mar 8, 2021 22:36 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 284 $744.45 $211,423.80
Disclosure

SEC source: 0000921895-21-000681 · form408106003_03082021.xml · nonDerivative · entry 4

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 77,088

F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $738.00 to $750.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
March 05, 2021 Filed Mar 8, 2021 22:36 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 97 $730.57 $70,865.29
Disclosure

SEC source: 0000921895-21-000681 · form408106003_03082021.xml · nonDerivative · entry 3

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 76,804

F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $725.00 to $740.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
March 04, 2021 Filed Mar 8, 2021 22:36 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass B common stock 1,888 $140.00 $264,320.00
Disclosure

SEC source: 0000921895-21-000681 · form408106003_03082021.xml · nonDerivative · entry 8

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 818,248

F6 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $139.50 to $140.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
December 17, 2020 Filed Dec 18, 2020 00:00 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass B common stock 374 $124.73 $46,649.02
Disclosure

SEC source: 0001193805-20-001561 · e620145_4-bh.xml · nonDerivative · entry 7

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 816,360

F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $123.81 to $125.50. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
December 17, 2020 Filed Dec 18, 2020 00:00 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 469 $621.59 $291,525.71
Disclosure

SEC source: 0001193805-20-001561 · e620145_4-bh.xml · nonDerivative · entry 3

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 76,707

F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $620.00 to $630.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
December 16, 2020 Filed Dec 16, 2020 23:17 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass B common stock 1,450 $123.00 $178,350.00
Disclosure

SEC source: 0001193805-20-001550 · e620140_4-bh.xml · nonDerivative · entry 9

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 815,986

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
December 16, 2020 Filed Dec 16, 2020 23:17 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 438 $615.00 $269,370.00
Disclosure

SEC source: 0001193805-20-001550 · e620140_4-bh.xml · nonDerivative · entry 4

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 76,238

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
December 15, 2020 Filed Dec 16, 2020 23:17 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass B common stock 1,763 $120.22 $211,947.86
Disclosure

SEC source: 0001193805-20-001550 · e620140_4-bh.xml · nonDerivative · entry 8

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 814,536

F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $118.00 to $122.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
December 14, 2020 Filed Dec 16, 2020 23:17 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 26 $600.00 $15,600.00
Disclosure

SEC source: 0001193805-20-001550 · e620140_4-bh.xml · nonDerivative · entry 3

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 75,800

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
December 10, 2020 Filed Dec 11, 2020 00:26 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 52 $598.32 $31,112.64
Disclosure

SEC source: 0000921895-20-003208 · form408106003_12102020.xml · nonDerivative · entry 5

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 75,774

F6 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $590.00 to $598.94. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
December 09, 2020 Filed Dec 11, 2020 00:26 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass B common stock 10,000 $115.98 $1,159,800.00
Disclosure

SEC source: 0000921895-20-003208 · form408106003_12102020.xml · nonDerivative · entry 10

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 812,773

F8 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $113.94 to $117.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
December 09, 2020 Filed Dec 11, 2020 00:26 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 73 $589.16 $43,008.68
Disclosure

SEC source: 0000921895-20-003208 · form408106003_12102020.xml · nonDerivative · entry 4

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 75,722

F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $575.21 to $590.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
December 08, 2020 Filed Dec 11, 2020 00:26 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass B common stock 474 $117.75 $55,813.50
Disclosure

SEC source: 0000921895-20-003208 · form408106003_12102020.xml · nonDerivative · entry 9

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 802,773

F7 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $117.44 to $118.50. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
December 08, 2020 Filed Dec 11, 2020 00:26 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 455 $594.88 $270,670.40
Disclosure

SEC source: 0000921895-20-003208 · form408106003_12102020.xml · nonDerivative · entry 3

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 75,649

F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $590.00 to $595.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
December 02, 2020 Filed Dec 3, 2020 22:52 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass B common stock 548 $113.86 $62,395.28
Disclosure

SEC source: 0000921895-20-003171 · form407428007_12032020.xml · nonDerivative · entry 8

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 802,299

F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $112.50 to $116.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
December 01, 2020 Filed Dec 3, 2020 22:52 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass B common stock 3,785 $114.00 $431,490.00
Disclosure

SEC source: 0000921895-20-003171 · form407428007_12032020.xml · nonDerivative · entry 7

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 801,751

F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $113.98 to $114.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
November 30, 2020 Filed Dec 1, 2020 00:32 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass B common stock 2,248 $110.94 $249,393.12
Disclosure

SEC source: 0000921895-20-003144 · form407428007_11302020.xml · nonDerivative · entry 9

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 797,966

F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $109.00 to $112.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
November 30, 2020 Filed Dec 1, 2020 00:32 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 7 $575.00 $4,025.00
Disclosure

SEC source: 0000921895-20-003144 · form407428007_11302020.xml · nonDerivative · entry 4

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 75,194

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

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November 27, 2020 Filed Dec 1, 2020 00:32 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass B common stock 3,041 $110.78 $336,881.98
Disclosure

SEC source: 0000921895-20-003144 · form407428007_11302020.xml · nonDerivative · entry 8

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 795,718

F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $108.92 to $111.50. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
November 25, 2020 Filed Dec 1, 2020 00:32 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 6 $575.00 $3,450.00
Disclosure

SEC source: 0000921895-20-003144 · form407428007_11302020.xml · nonDerivative · entry 3

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 75,187

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

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November 24, 2020 Filed Nov 24, 2020 23:49 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass B common stock 5,367 $111.73 $599,654.91
Disclosure

SEC source: 0000921895-20-003110 · form407428007_11242020.xml · nonDerivative · entry 9

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 792,677

F6 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $110.00 to $112.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

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November 24, 2020 Filed Nov 24, 2020 23:49 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 165 $575.00 $94,875.00
Disclosure

SEC source: 0000921895-20-003110 · form407428007_11242020.xml · nonDerivative · entry 4

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 75,181

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
November 20, 2020 Filed Nov 24, 2020 23:49 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass B common stock 18,056 $104.19 $1,881,254.64
Disclosure

SEC source: 0000921895-20-003110 · form407428007_11242020.xml · nonDerivative · entry 8

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 787,310

F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $100.00 to $105.50. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

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November 20, 2020 Filed Nov 24, 2020 23:49 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 25 $549.54 $13,738.50
Disclosure

SEC source: 0000921895-20-003110 · form407428007_11242020.xml · nonDerivative · entry 3

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 75,016

F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $538.50 to $550.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

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November 17, 2020 Filed Nov 18, 2020 00:36 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass B common Stock 15,156 $105.27 $1,595,472.12
Disclosure

SEC source: 0000921895-20-003031 · form407428007_11172020.xml · nonDerivative · entry 9

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 769,254

F6 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $103.00 to $106.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
November 16, 2020 Filed Nov 18, 2020 00:36 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass B common Stock 6,047 $102.61 $620,482.67
Disclosure

SEC source: 0000921895-20-003031 · form407428007_11172020.xml · nonDerivative · entry 8

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 754,098

F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $100.00 to $103.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
November 16, 2020 Filed Nov 18, 2020 00:36 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 148 $540.00 $79,920.00
Disclosure

SEC source: 0000921895-20-003031 · form407428007_11172020.xml · nonDerivative · entry 3

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 74,991

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
November 13, 2020 Filed Nov 18, 2020 00:36 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass B common stock 15,708 $96.46 $1,515,193.68
Disclosure

SEC source: 0000921895-20-003031 · form407428007_11172020.xml · nonDerivative · entry 7

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 748,051

F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $92.99 to $100.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
September 11, 2020 Filed Sep 14, 2020 21:42 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass B common stock 1,645 $99.84 $164,236.80
Disclosure

SEC source: 0000921895-20-002400 · form407428007_09142020.xml · nonDerivative · entry 9

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 732,343

F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $99.25 to $100.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
September 11, 2020 Filed Sep 14, 2020 21:42 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 12 $505.00 $6,060.00
Disclosure

SEC source: 0000921895-20-002400 · form407428007_09142020.xml · nonDerivative · entry 4

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 74,843

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
September 10, 2020 Filed Sep 14, 2020 21:42 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass B common stock 1,311 $96.75 $126,839.25
Disclosure

SEC source: 0000921895-20-002400 · form407428007_09142020.xml · nonDerivative · entry 8

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 730,698

F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $96.00 to $98.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document
September 10, 2020 Filed Sep 14, 2020 21:42 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass A common stock 5 $499.00 $2,495.00
Disclosure

SEC source: 0000921895-20-002400 · form407428007_09142020.xml · nonDerivative · entry 3

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 74,831

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

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September 04, 2020 Filed Sep 4, 2020 23:19 UTC Biglari Holdings Inc. BH · Entity 4809 PurchaseClass B common stock 2,500 $95.88 $239,700.00
Disclosure

SEC source: 0001193805-20-001119 · e619919_4-bh.xml · nonDerivative · entry 11

BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner

BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner

LION FUND II, L.P. · CIK 0001580602 · 10% owner

LION FUND, L.P. · CIK 0001334426 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Lion Fund II, L.P.

Disclosed balance after: 729,387

F8 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $95.50 to $96.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II.

Read SEC document

Value uses the disclosed total when available, otherwise shares × reported transaction price. It is not an estimate of exercise cash cost or investment performance.