Funds (13F)
Biglari Capital Corp.
Backtest from 15 Nov 2013 to 2 Nov 2026 · weekly · hypothetical
- Return a year
- −0.9% S&P 500 +13.6%
- Last 12 months
- +7.1% S&P 500 +12.1%
- Sharpe ratio
- 0.07 S&P 500 0.75
- Biggest drop
- −66.5% S&P 500 −31.8%
About
Copies Biglari Capital Corp.'s quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.
Key statistics
| Measure | Strategy | S&P 500 |
|---|---|---|
| Return a year (compound) | −0.9% | +13.6% |
| Total return | −11% | +423% |
| Last 12 months | +7.1% | +12.1% |
| Last 3 months | −3.8% | — |
| Last month | +5.6% | — |
| This year so far | +8.2% | — |
| Volatility a year | 31.4% | 16.1% |
| Sharpe ratio | 0.07 | 0.75 |
| Biggest drop | −66.5% | −31.8% |
| Beta to the S&P 500 | 1.17 | 1.00 |
| Alpha a year (t-statistic) | −11.9% (−1.69) | — |
| Share of weeks up | 51% | — |
Insights
| Period | Return a year | S&P 500 | Sharpe | S&P 500 | Biggest drop | Beta | Alpha (t) |
|---|---|---|---|---|---|---|---|
| Whole backtest15 Nov 2013 to 2 Nov 2026 | −0.9% | +13.6% | 0.07 | 0.75 | −66.5% | 1.17 | −11.9% (−1.69) |
| 2018 onwards5 Jan 2018 to 2 Nov 2026 | −7.7% | +13.9% | −0.12 | 0.66 | −66.5% | 1.27 | −19.4% (−2.14) |
| Last three years3 Nov 2023 to 2 Nov 2026 | −7.6% | +21.8% | −0.30 | 1.16 | −45.6% | 0.93 | −23.3% (−1.62) |
| Last year7 Nov 2025 to 2 Nov 2026 | +6.1% | +14.2% | 0.21 | 0.84 | −14.8% | 0.92 | −3.8% (−0.15) |
| Date | Company | Action |
|---|---|---|
| 15 Aug 2025 | BABA | Sold |