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
BERKSHIRE HATHAWAY INC DEL CL A 084670108 488 2 SH   DFND 1,2 2 0 0
BIGLARI HLDGS INC COM 08986R101 14,678 31,018 SH   DFND 1 31,018 0 0
BIGLARI HLDGS INC COM 08986R101 173,062 365,726 SH   DFND 1,2 365,726 0 0
BIGLARI HLDGS INC COM 08986R101 309,585 654,237 SH   DFND 1,3 654,237 0 0
CRACKER BARREL OLD CTRY STOR COM 22410J106 791,117 4,737,794 SH   DFND 1,3 4,737,794 0 0
INSIGNIA SYS INC COM 45765Y105 5,644 2,313,200 SH   DFND 1,3 2,313,200 0 0
INVESTORS TITLE CO COM 461804106 8,889 56,196 SH   DFND 1,2 56,196 0 0
ROCKY MTN CHOCOLATE FACTORY COM 77467X101 865 84,872 SH   DFND 1,2 84,872 0 0
UNICO AMERN CORP COM 904607108 5,666 527,100 SH   DFND 1,2 527,100 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 5,735 395,000 SH   DFND 1,2 395,000 0 0