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Adviser Profile

As of Date 03/28/2024
Adviser Type - Large advisory firm
- Related adviser
Number of Employees 4
of those in investment advisory functions 1
Registration Texas, Terminated, 03/18/2014
Other registrations (1)
AUM* 744,667,515 20.91%
of that, discretionary 744,667,515 20.91%
Private Fund GAV* 744,667,515 20.91%
Avg Account Size 372,333,758 20.91%
SMA’s No
Private Funds 2
Contact Info 210 xxxxxxx

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- Performance-based fees

Recent News

Reported AUM

Discretionary
Non-discretionary
1B 1B 951M 761M 570M 380M 190M
2015 2016 2017 2018 2019 2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypeHedge Fund Count2 GAV$744,667,515

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Brochure Summary

Overview

The Adviser is an investment advisory company founded in 2000 by Sardar Biglari, the sole shareholder of the Adviser. All investment, operating and capital allocation decisions are made by Mr. Biglari. The Adviser serves as the general partner to The Lion Fund, L.P. and The Lion Fund II, L.P. (each a “Fund” and together, the “Funds”), investment limited partnerships formed under Delaware law. The Funds are engaged in a number of investment activities in the pursuit of maximizing the eventual
net worth of its partners. Biglari Capital’s advisory services are geared to the management of the Funds, which are disclosed to investors in the applicable Fund’s governing agreements. As of December 31, 2023, the Adviser managed approximately $745 million in regulatory assets under management – all on a discretionary basis. The information provided about Biglari Capital in this brochure is qualified in its entirety by reference to the Funds’ offering materials.