The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AIR T INC COM 009207101 6,025 338,500 SH   DFND 1,3 338,500 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 390 2 SH   DFND 1,2 2 0 0
BIGLARI HLDGS INC COM 08986R101 133,761 365,726 SH   DFND 1,2 365,726 0 0
BIGLARI HLDGS INC COM 08986R101 225,410 616,312 SH   DFND 1,3 616,312 0 0
CCA INDS INC COM 124867102 2,251 776,259 SH   DFND 1,2 776,259 0 0
CRACKER BARREL OLD CTRY STOR COM 22410J106 697,782 4,737,794 SH   DFND 1,3 4,737,794 0 0
FASTENAL CO COM 311900104 14,919 407,500 SH   DFND 1,2 407,500 0 0
INSIGNIA SYS INC COM 45765Y105 5,852 2,313,200 SH   DFND 1,3 2,313,200 0 0