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RIA / WealthRegistered adviserasset managerSEC registeredRAUM 1b 10b

BIGLARI CAPITAL CORP.

BIGLARI CAPITAL LLC, CRD 115197

SAN ANTONIO, TX

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:a5c2f097-dcfa-4398-0053-250e89634dab

Data as of Mar 28, 2026 (this record's last observation) from federal regulator filings. Page built Sep 21, 2026, 1:48 AM UTC and rebuilt at most every 15 minutes.

Relationships: 5
Dated events: 3
On other graphs: 0
Observed: May 24, 2013 to Mar 28, 2026
16 observations

Across DFX

This entity has not been resolved onto another DFX graph by a shared identifier. A name match elsewhere would be a candidate, never an identity, and none is recorded.

Facts

fact = as filed or announced; derived = computed by DFX; estimate = a band, never a point

Firm class: asset managerderivedprivate_client_share=0.0 fund_share=1.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0
Regulatory AUM: $1.0BItem 5.F on the latest filing (2026-03-28); as reported, and an affiliate's assets may be counted again on its own filing
Discretionary RAUM: $1.0B
Private client RAUM: $0derivedItem 5.D individuals plus high net worth individuals
Private client share: 0%derivedprivate client RAUM over total RAUM
Advisors on IAPD: 1
RAUM per advisor: $1.0Bderivedthe firm's RAUM over its IAPD headcount: a firm average, never a person's book
Employees: 4
Advisory employees: 1
Offices: 0Schedule D 1.F, beyond the principal office
Accounts: 2
Private funds: 2Schedule D 7.B(1)
Custody, client assets: $1.0B
SEC number: 801-78141
CRD: 115197
Filings on the tape: 16
First filed: May 24, 2013
Latest filed: Mar 28, 2026
Organised: Limited Liability Company, TX

Advisors on IAPD

current investment adviser representatives on the IAPD individual feed, longest tenure first

Advisor	Designations	Branch	Years here	In industry	Prior firms	Dual registered
SARDAR BIGLARI	n/a	SAN ANTONIO, TX	23	26	n/a	no

Private funds

Schedule D 7.B(1); gross asset value as reported, never fund size; reporting ends 2024-12-31

Fund	Type	Reported GAV	As of	Owners	First reported	Status	Form D file
THE LION FUND II, L.P.	Hedge Fund	$373M	Mar 28, 2024	7	Mar 14, 2014	reported	021-199715
THE LION FUND, L.P.	Hedge Fund	$371M	Mar 28, 2024	51	May 24, 2013	reported	n/a

Owners and control persons

Schedule A and B as filed; ownership codes are the form's bands (NA under 5%, A 5 to 10%, B 10 to 25%, C 25 to 50%, D 50 to 75%, E over 75%); people are listed as filed and never merged by name

Owner	Title	Ownership code	Control person	Acquired	First seen	Last seen
BIGLARI, SARDAR	CHAIRMAN & CEO / MANAGING MEMBER	E	yes	10/2000	May 24, 2013	Mar 28, 2024
LEWIS, BRUCE	CHIEF COMPLIANCE OFFICER	Na	yes	07/2013	Mar 14, 2014	Mar 28, 2024

Regulatory AUM by fiscal year

annual amendments (and the roster's annual snapshot) as filed; where a year was amended twice the later filing draws the line

Fiscal year	Filed	RAUM	Discretionary	Employees	Advisory staff	Offices	Private funds	Fund GAV
2025	Mar 28, 2026	$1.0B	$1.0B	4	1	0	2	n/a
2024	Mar 26, 2025	$935M	$935M	4	1	0	2	n/a
2023	Mar 28, 2024	$745M	$745M	4	1	0	2	$745M
2022	Mar 31, 2023	$616M	$616M	4	1	0	2	$616M
2021	Mar 30, 2022	$679M	$679M	4	1	0	2	$679M
2020	Mar 31, 2021	$680M	$680M	4	1	0	2	$680M
2019	Jun 2, 2020	$866M	$866M	4	1	0	2	$866M
2018	Mar 28, 2019	$1.0B	$1.0B	4	1	0	2	$1.0B
2017	Mar 30, 2018	$1.3B	$1.3B	4	1	1	2	$1.3B
2016	Mar 31, 2017	$1.3B	$1.3B	3	1	n/a	2	$1.3B
2015	Mar 30, 2016	$990M	$990M	2	1	n/a	2	$990M
2014	Mar 31, 2015	$909M	$909M	1	1	n/a	2	$909M
2013	Mar 14, 2014	$586M	$586M	1	1	n/a	2	$586M

Advisor flows

derived: registrations beginning and ending at this CRD on IAPD, bulk corporate re-registrations excluded; the rate is departures over IAPD headcount

Joined, 12m	Left, 12m	Net, 12m	Departure rate, 12m	Joined, 90d	Left, 90d	Left, no destination yet	Joined, 36m	Left, 36m
0	0	0	0.0%	0	0	0	0	0

Growth

derived from consecutive annual filings; RAUM as reported

Latest fiscal year	RAUM	A year earlier	1y change	Three years earlier	3y CAGR	Employees	A year earlier	Offices	A year earlier
2025	$1.0B	$935M	11.6%	$616M	19.2%	4	4	0	0

Relationships

Advises (2)

→ THE LION FUND II, L.P.Private fundHedge Fund, IA
Mar 14, 2014 to presentfactForm ADV
→ THE LION FUND, L.P.Private fundHedge Fund, IA
May 24, 2013 to presentfactForm ADV

Registered with (1)

← SARDAR BIGLARIAdvisorregistration: current employment
Apr 16, 2003 to presentfactForm ADV

Controls (2)

← BIGLARI, SARDAROwnerCHAIRMAN & CEO / MANAGING MEMBER, ownership code E, individual
May 24, 2013 to Mar 28, 2024factForm ADV
← LEWIS, BRUCEOwnerCHIEF COMPLIANCE OFFICER, ownership code NA, individual
Mar 14, 2014 to Mar 28, 2024factForm ADV

Dated events

Occurred
Mar 26, 2025
Regulatory AUM changed
Biglari Capital Corp. reported RAUM $935.0M, up 26% from $744.7M (2024-03-28 to 2025-03-26)
Form ADVobserved 5 days ago
$190M
Occurred
Mar 14, 2014
Succession filed (Item 4)
Biglari Capital Corp. reported succeeding to the business of Another Adviser (Form ADV Item 4)
Form ADVobserved 5 days ago
Occurred
May 24, 2013
First Form ADV filing
Biglari Capital Corp. filed its initial SEC registration (Form ADV)
Form ADVobserved 5 days ago

Provenance

Graph: RIA / Wealth Management
Canonical id: dfx:ria:a5c2f097-dcfa-4398-0053-250e89634dab
First observed: May 24, 2013
Last observed: Mar 28, 2026 5 months ago
Source families: Federal regulator filings
3 registered feeds stand behind this record; each fact above carries its own dates and, where the publisher serves one, its document.
Resolution: Identity across graphs by shared identifier (CRD, CIK, EIN, ADV fund id, individual CRD) or citation; a name match is shown as a candidate and never merged.

BIGLARI CAPITAL CORP.

BIGLARI CAPITAL LLC, CRD 115197

SAN ANTONIO, TX

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:a5c2f097-dcfa-4398-0053-250e89634dab

Data as of Mar 28, 2026 (this record's last observation) from federal regulator filings. Page built Sep 21, 2026, 1:48 AM UTC and rebuilt at most every 15 minutes.

Advisor

Designations

Branch

Years here

In industry

Prior firms

Dual registered

SARDAR BIGLARI

n/a

SAN ANTONIO, TX

n/a

Fund

Type

Reported GAV

As of

Owners

First reported

Status

Form D file

THE LION FUND II, L.P.

Hedge Fund

$373M

Mar 28, 2024

Mar 14, 2014

reported

021-199715

THE LION FUND, L.P.

Hedge Fund

$371M

Mar 28, 2024

May 24, 2013

reported

n/a

Owner

Title

Ownership code

Control person

Acquired

First seen

Last seen

BIGLARI, SARDAR

CHAIRMAN & CEO / MANAGING MEMBER

yes

10/2000

May 24, 2013

Mar 28, 2024

LEWIS, BRUCE

CHIEF COMPLIANCE OFFICER

yes

07/2013

Mar 14, 2014

Mar 28, 2024

Fiscal year

Filed

RAUM

Discretionary

Employees

Advisory staff

Offices

Private funds

Fund GAV

2025

Mar 28, 2026

$1.0B

n/a

2024

Mar 26, 2025

$935M

n/a

2023

Mar 28, 2024

$745M

2022

Mar 31, 2023

$616M

2021

Mar 30, 2022

$679M

2020

Mar 31, 2021

$680M

2019

Jun 2, 2020

$866M

2018

Mar 28, 2019

$1.0B

2017

Mar 30, 2018

$1.3B

2016

Mar 31, 2017

$1.3B

n/a

$1.3B

2015

Mar 30, 2016

$990M

n/a

$990M

2014

Mar 31, 2015

$909M

n/a

$909M

2013

Mar 14, 2014

$586M

n/a

$586M

Joined, 12m

Left, 12m

Net, 12m

Departure rate, 12m

Joined, 90d

Left, 90d

Left, no destination yet

Joined, 36m

Left, 36m

0.0%

Latest fiscal year

RAUM

A year earlier

1y change

Three years earlier

3y CAGR

Employees

A year earlier

Offices

A year earlier

2025

$1.0B

$935M

11.6%

$616M

19.2%