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EdgarHawk

Biglari Capital Corp

10% Owner

10% Owner

Latest: Chair buying · June 2026

13 filings analyzed · 2 companies · Latest 2026-07-06

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Companies

Company Buys Sells Direction
El Pollo Loco Holdings, Inc. LOCO 0 2 Net selling
Biglari Holdings Inc. BH 11 0 Net buying

Activity

July 2026
2026-07-06 El Pollo Loco Holdings, Inc. LOCO Joint filing
low
Sell
141,946 shares
$2,448,074
Significance 4/10

Sardar Biglari (10% owner) sold 141,946 shares for $2,448,073.67 across 2 transactions at blended average $17.25.

Sardar Biglari executed 2 separate sales totaling 141,946 shares for $2,448,073.67 on July 1–2, 2026, reducing his LOCO stake from 3,777,400 shares to 3,635,454 shares (a -3.8% reduction). The sales occurred at prices ($17.27 on July 1, $16.92 on July 2) near the 52-week high of $17.40, and stock currently trades at $16.30 (-6.3% from that high). Biglari's cross-ticker track record across 20 prior open-market buys shows an average 90-day return of -18.7% with a 21.43% win rate, indicating a historically challenging pattern of timing. Despite the sale, Biglari retains a substantial 3.64M-share position, maintaining material ownership at the company with $126.2M in quarterly revenue and a P/E of 17.91.

June 2026
2026-06-30 El Pollo Loco Holdings, Inc. LOCO Joint filing
high
Sell
222,600 shares
$3,715,166
Significance 6/10

10% Owner Sardar Biglari sells 222,600 LOCO shares over 3 days for $3.7M; holds 3.78M shares post-sale

Sardar Biglari, a 10% owner of El Pollo Loco, executed three separate sales totaling 222,600 shares for $3,715,166.00 between June 26–30, 2026 at prices ranging from $16.58 to $16.91, representing a 5.6% reduction of his pre-transaction holdings of 4,000,000 shares. The stock is currently trading at $16.96, within 0.2% of its 52-week high of $17.00 and up 14.1% over the prior 30 days and 22.2% over 90 days, suggesting the sales occurred during a period of price strength. Biglari's cross-ticker track record shows 20 prior buys with an average 90-day return of -18.7% and a 21.43% win rate, though this open-market historical data reflects timing patterns across multiple holdings, not predictive power specific to El Pollo Loco. The filing documents a material but measured reduction in an already substantial stake; Biglari retains 3,777,400 shares post-transaction.

2026-06-05 Biglari Holdings Inc. BH Joint filing
high
Buy
2,278 shares
$658,793
Significance 7/10

Sardar Biglari buys 2,278 shares for $658,792.58 at BH; stock down 39.3% from 52-week high despite recent insider purchase pattern.

Sardar Biglari, Chairman and CEO of Biglari Holdings, executed 2 purchases totaling 2,278 shares for $658,792.58 on consecutive days (June 4–5, 2026) at a blended average price of $289.20. This follows a rapid pattern of buying activity: prior trades on May 12, 13, and 14, 2026 all posted strong 30-day returns (+18.6%, +13.8%, +14.8% respectively), suggesting recent buy timing has been favorable at this ticker. However, the stock is currently $293.54, down 39.3% from its 52-week high of $483.60 and down 2.4% over the last 30 days. Fundamentally, the company reported a net loss of $14,531,000.00 in its latest quarter, despite revenue of $97,481,000.00 and positive annual revenue growth of 9.2%. The insider's cross-ticker track record shows a 90-day win rate of 40.00% and an average 90-day return of -8.2%, indicating mixed success in market timing across other holdings. This transaction represents continued accumulation by the controlling insider during a period of significant stock depreciation and ongoing unprofitability, which warrants closer examination of the company's turnaround prospects.

May 2026
2026-05-14 Biglari Holdings Inc. BH Joint filing
medium
Buy
52,674 shares
$13,439,604
Significance 4/10

Sardar Biglari purchases 52,674 shares for $13.4M across 3 days at blended avg $255.15 as stock declines 46.6% from 52-week high.

Sardar Biglari, Chairman and CEO of Biglari Holdings, made three consecutive purchases totaling 52,674 shares for $13,439,603.54 between May 12–14, 2026, at prices ranging from $249.84 to $260.36. This occurred as the stock has fallen 46.6% from its 52-week high of $483.60 and 22.9% over the prior 30 days. The company is unprofitable (net income of -$14,531,000.00 in the latest quarter) with a market cap of $53,406,078.88. His prior five purchases at BH show mixed timing: 3 of 5 delivered positive 30-day returns, but zero of five were well-timed on the 90-day horizon, with most followed by declines ranging from -5.8% to -23.5%. His cross-ticker track record shows 20 prior buys with a 25% 90-day win rate and an average 90-day return of -21.9%, indicating a pattern of purchasing that has not reliably captured subsequent upside across his portfolio history.

March 2026
2026-03-13 Biglari Holdings Inc. BH Joint filing
medium
Buy
2,810 shares
$849,182
Significance 4/10

Biglari buys 2,810 shares at $302.20; stock -37.0% from 52-week high, down -27.1% in 30 days.

Sardar Biglari, Chairman and CEO of Biglari Holdings Inc., purchased 2,810 shares (totaling $849,182.00) at $302.20 on 2026-03-13, increasing his holdings from 1,342,620 to 1,345,430 shares. The purchase occurs in a deteriorating price environment: the stock is trading at $300.35 (current price), -37.0% below its 52-week high of $476.92, having declined -27.1% over the prior 30 days and -9.4% over 90 days. The company remains unprofitable with a net loss of $-5,291,000 in the latest quarter, though annual revenue grew +9.2% to $99,738,000. Significantly, Biglari has executed four additional open-market purchases at this ticker within the prior week (2026-03-09, 2026-03-06, 2026-03-03), indicating sustained accumulation during a period of sharp price deterioration. His cross-ticker track record shows mixed timing outcomes (41.67% 90-day win rate, -9.5% average 90-day return), though same-ticker history is sparse and mostly unmeasured.

2026-03-09 Biglari Holdings Inc. BH Joint filing
medium
Buy
3,320 shares
$999,519
Significance 4/10

CEO Sardar Biglari bought 3,320 shares at $301.06; stock down -26.2% in 30 days and -35.7% from 52-week high.

Sardar Biglari, Chairman and CEO, purchased 3,320 shares of Biglari Holdings Inc. at $301.06 on 2026-03-09, adding to his holdings of 1,342,620 shares post-transaction. The transaction occurs against a backdrop of significant recent price deterioration: the stock has declined -26.2% over the past 30 days and is -35.7% from its 52-week high of $476.92, now trading at $306.76. This represents a continuation of recent buying activity at the company—Biglari made similar open-market purchases on 2026-03-06 and 2026-03-03. The company is currently unprofitable (net income of $-5,291,000.00 for the latest quarter), though revenue is growing at 9.2% year-over-year. Looking at Biglari's prior trades at this same ticker, his timing has been challenged: three measurable recent buys at BH produced 30-day returns of +42.2%, -71.8%, and -71.3%, with only one in positive territory. His cross-ticker track record across 20 prior buys shows an average 30-day return of -12.1%, a 90-day return of -17.2%, and a 90-day win rate of 36.36%, indicating a pattern of purchases that have typically underperformed in the short term.

2026-03-06 Biglari Holdings Inc. BH Joint filing
medium
Buy
2,441 shares
$749,875
Significance 4/10

Biglari (CEO) buys 2,441 shares at $307.20; stock down -36.1% YTD, company unprofitable with -$5.3M net loss

Sardar Biglari, Chairman and CEO of Biglari Holdings, purchased 2,441 shares at $307.20 on 2026-03-06, bringing his holdings to 1,339,300 shares. This buy follows a period of significant stock deterioration: the stock has declined -36.1% from its 52-week high of $476.92 and is down -24.4% over the prior 30 days. The company posted negative net income of -$5.3M on revenue of $99.7M, indicating current unprofitability. Notably, Biglari's recent trading history at this ticker shows five consecutive purchases in mid-to-late December 2025 and early March 2026, four of which experienced steep 30-day losses (-71.3%, -71.8%, -72.3% on the December 16, 17, and 15 purchases respectively), while one showed a +42.2% 30-day gain (December 17 purchase). His cross-ticker open-market track record reveals 20 prior buys with an average 90-day return of -19.2% and a 40% win rate over 90 days, establishing a pattern of poorly-timed equity purchases across holdings.

2026-03-03 Biglari Holdings Inc. BH Joint filing
low
Buy
1,146 shares
$379,498
Significance 3/10

Biglari Holdings CEO Sardar Biglari purchased 1,146 shares at $331.15 on 2026-03-03, total value $379,497.90

SARDAR BIGLARI purchased 1,146 shares (+0.1% vs pre-transaction holdings of 1,335,713 shares), a modest addition to his 1.34M-share position in his own company. The buy occurred at $331.15, while the stock now trades at $334.83, down 29.8% from its 52-week high of $476.92 and down 10.7% over the past 30 days. Biglari's cross-ticker track record shows 20 prior buys with an average 90-day return of -33.2% and a 22.22% win rate, reflecting a pattern of ill-timed purchases. His prior five trades at BH itself show mixed outcomes (ranging from +42.2% to -72.3% at the 30-day mark), with 0 of his prior buys achieving a positive 90-day return. The company remains unprofitable (latest quarter net income: $-5,291,000.00) despite 9.2% annual revenue growth, which provides minimal context for interpreting this purchase as a fundamental conviction signal.

December 2025
2025-12-17 Biglari Holdings Inc. BH Joint filing
medium
Buy
3,452 shares
$1,599,457
Significance 3/10

Biglari (BH CEO) bought 3,452 shares across 2 trades for $1,599,457.00 on 2025-12-17; stock currently -13.7% from 52-week high.

Sardar Biglari purchased 3,452 shares in 2 separate transactions totaling $1,599,457.00, increasing his holdings to 128,811 shares. The purchases occur as Biglari Holdings stock trades at $323.67, down 13.7% from its 52-week high, though up 5.2% over the past 30 days. The company is unprofitable (net income of $-5,291,000.00 for the latest quarter) and carries a P/E of 32.01 despite negative annual earnings, creating a valuation context that warrants scrutiny. Notably, Biglari's cross-ticker track record shows 0 of 20 prior open-market buys achieved positive 90-day returns (avg 90d return: -46.1%), and his same-ticker history shows 5 consecutive buys in the past week—all too recent for outcome measurement—suggesting a persistent pattern of accumulation in a deteriorating financial environment.

2025-12-16 Biglari Holdings Inc. BH Joint filing
medium
Buy
817 shares
$547,138
Significance 4/10

BH CEO Sardar Biglari purchases 817 shares for $547.1K at blended $669.69; stock now at $322.69.

Sardar Biglari, Chairman and CEO of Biglari Holdings, executed 4 separate purchases totaling 817 shares for $547.1K over December 12-16, 2025, at a blended average price of $669.69. The current stock price of $322.69 reflects a significant decline from the transaction prices, placing these purchases roughly 52% underwater at present. Biglari's cross-ticker track record shows an 8.33% win rate on 20 prior buys with an average 90-day return of -37.4%, a pattern of poor timing that extends to this purchase window. The company remains unprofitable with negative net income of $-5.3M in the latest quarter, and recent same-ticker activity (5 consecutive buys on December 4-10) suggests sustained accumulation despite deteriorating fundamentals and unfavorable market conditions.