| BIGLARI CAPITAL CORP. |
| 72.11% | 50.26% | #1 | $627.2M | 1.5M | $467.1M | 1.4M | +54,952+3.88% | Add |
| DIMENSIONAL FUND ADVISORS LP |
| 0.01% | 0.01% | #18 | $45.3M | 106,257 | $33.7M | 102,247 | +4,010+3.92% | Add |
| TWO SIGMA INVESTMENTS, LP |
| 0.02% | <0.01% | #12 | $21.6M | 50,618 | $2.8M | 8,595 | +42,023+488.92% | Add |
| BlackRock, Inc. |
| <0.01% | <0.01% | #55 | $19.7M | 46,135 | $14.8M | 45,046 | +1,089+2.42% | Add |
| MARSHALL WACE, LLP |
| 0.01% | 0.01% | #16 | $13.2M | 31,016 | $10.6M | 32,207 | -1,191-3.70% | Reduce |
| RENAISSANCE TECHNOLOGIES LLC |
| 0.02% | 0.01% | #11 | $12.2M | 28,627 | $7.2M | 21,742 | +6,885+31.67% | Add |
| VANGUARD CAPITAL MANAGEMENT LLC |
| <0.01% | <0.01% | #57 | $12.0M | 28,185 | $9.8M | 29,755 | -1,570-5.28% | Reduce |
| MILLENNIUM MANAGEMENT LLC |
| <0.01% | <0.01% | #26 | $11.4M | 26,774 | $5.7M | 17,342 | +9,432+54.39% | Add |
| GEODE CAPITAL MANAGEMENT, LLC |
| <0.01% | <0.01% | #52 | $6.4M | 14,922 | $4.6M | 13,834 | +1,088+7.86% | Add |
| Trexquant Investment LP |
| 0.04% | 0.05% | #6 | $6.2M | 14,559 | $7.2M | 21,710 | -7,151-32.94% | Reduce |
| STATE STREET CORP |
| <0.01% | <0.01% | #71 | $5.5M | 12,806 | $4.6M | 13,943 | -1,137-8.15% | Reduce |
| Connor, Clark & Lunn Investment Management Ltd. |
| 0.01% | 0.01% | #17 | $5.2M | 12,309 | $3.7M | 11,339 | +970+8.55% | Add |
| AQR CAPITAL MANAGEMENT LLC |
| <0.01% | <0.01% | #35 | $4.0M | 9,490 | $2.0M | 5,934 | +3,556+59.93% | Add |
| Qube Research & Technologies Ltd |
| <0.01% | 0.01% | #28 | $3.7M | 8,775 | $7.4M | 22,415 | -13,640-60.85% | Reduce |
| JPMORGAN CHASE & CO |
| <0.01% | <0.01% | #68 | $3.4M | 7,850 | $3.8M | 12,308 | -4,458-36.22% | Reduce |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC |
| <0.01% | <0.01% | #48 | $3.3M | 7,703 | $2.3M | 6,839 | +864+12.63% | Add |
| VANGUARD PORTFOLIO MANAGEMENT LLC |
| <0.01% | <0.01% | #75 | $3.1M | 7,344 | $2.5M | 7,598 | -254-3.34% | Reduce |
| NORTHERN TRUST CORP |
| <0.01% | <0.01% | #51 | $3.1M | 7,161 | $2.3M | 6,933 | +228+3.29% | Add |
| HRT FINANCIAL LP |
| 0.01% | — | #24 | $2.8M | 6,481 | $0 | 0 | +6,481 | New Buy |
| JANE STREET GROUP, LLC |
| <0.01% | <0.01% | #61 | $2.6M | 6,128 | $5.7M | 17,409 | -11,281-64.80% | Reduce |
| Pacer Advisors, Inc. |
| 0.01% | 0.01% | #19 | $2.5M | 5,829 | $1.8M | 5,346 | +483+9.03% | Add |
| Nuveen, LLC |
| <0.01% | <0.01% | #45 | $2.1M | 5,039 | $1.4M | 4,245 | +794+18.70% | Add |
| XTX Topco Ltd |
| 0.02% | 0.06% | #8 | $1.9M | 4,495 | $3.5M | 10,605 | -6,110-57.61% | Reduce |
| VANGUARD FIDUCIARY TRUST CO |
| <0.01% | <0.01% | #50 | $1.8M | 4,326 | $1.4M | 4,272 | +54+1.26% | Add |
| Point72 Asset Management, L.P. |
| <0.01% | <0.01% | #34 | $1.8M | 4,189 | $1.7M | 5,224 | -1,035-19.81% | Reduce |
| Y-Intercept (Hong Kong) Ltd |
| 0.03% | 0.03% | #7 | $1.7M | 4,055 | $1.4M | 4,260 | -205-4.81% | Reduce |
| GSA CAPITAL PARTNERS LLP |
| 0.1% | 0.04% | #4 | $1.6M | 3,856 | $704,000 | 2,135 | +1,721+80.61% | Add |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP |
| <0.01% | — | #81 | $1.3M | 2,982 | $0 | 0 | +2,982 | New Buy |
| CITADEL ADVISORS LLC |
| <0.01% | — | #73 | $1.3M | 2,980 | $0 | 0 | +2,980 | New Buy |
| MORGAN STANLEY |
| <0.01% | <0.01% | #87 | $1.2M | 2,739 | $4.7M | 14,562 | -11,823-81.19% | Reduce |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC |
| 0.02% | 0.03% | #10 | $1.1M | 2,625 | $1.6M | 4,985 | -2,360-47.34% | Reduce |
| BARCLAYS PLC |
| <0.01% | <0.01% | #64 | $1.1M | 2,570 | $751,136 | 2,279 | +291+12.77% | Add |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC |
| <0.01% | 0.01% | #25 | $1.0M | 2,408 | $1.4M | 4,110 | -1,702-41.41% | Reduce |
| BANK OF AMERICA CORP /DE/ |
| <0.01% | <0.01% | #89 | $868,675 | 2,039 | $424,182 | 1,287 | +752+58.43% | Add |
| STRS OHIO |
| <0.01% | <0.01% | #29 | $852,060 | 2,000 | $626,221 | 1,900 | +100+5.26% | Add |
| Bank of New York Mellon Corp |
| <0.01% | <0.01% | #76 | $844,711 | 1,983 | $551,239 | 1,673 | +310+18.53% | Add |
| Engineers Gate Manager LP |
| 0.01% | — | #15 | $817,978 | 1,920 | $0 | 0 | +1,920 | New Buy |
| Invesco Ltd. |
| <0.01% | <0.01% | #88 | $779,635 | 1,830 | $6.6M | 19,938 | -18,108-90.82% | Reduce |
| Rathbones Group PLC |
| <0.01% | <0.01% | #30 | $724,251 | 1,700 | $560,303 | 1,700 | 00.00% | Unchanged |
| RITHOLTZ WEALTH MANAGEMENT |
| 0.01% | 0.01% | #14 | $712,322 | 1,672 | $827,600 | 2,511 | -839-33.41% | Reduce |
| HSBC HOLDINGS PLC |
| <0.01% | <0.01% | #54 | $702,172 | 1,626 | $495,021 | 1,523 | +103+6.76% | Add |
| Jump Financial, LLC |
| 0.01% | — | #23 | $698,689 | 1,640 | $0 | 0 | +1,640 | New Buy |
| UBS Group AG |
| <0.01% | <0.01% | #83 | $688,891 | 1,617 | $527,674 | 1,601 | +16+1.00% | Add |
| Centiva Capital, LP |
| 0.01% | — | #21 | $668,867 | 1,570 | $0 | 0 | +1,570 | New Buy |
| Lotus Technology Management, LP |
| 0.8% | — | #2 | $653,530 | 1,534 | $0 | 0 | +1,534 | New Buy |
| ALLIANCEBERNSTEIN L.P. |
| <0.01% | <0.01% | #62 | $636,438 | 1,931 | $309,492 | 931 | +1,000+107.41% | Add |
| STATE OF WISCONSIN INVESTMENT BOARD |
| <0.01% | — | #36 | $633,507 | 1,487 | $0 | 0 | +1,487 | New Buy |
| JACOBS LEVY EQUITY MANAGEMENT, INC |
| <0.01% | <0.01% | #31 | $618,170 | 1,451 | $478,235 | 1,451 | 00.00% | Unchanged |
| LPL Financial LLC |
| <0.01% | <0.01% | #79 | $481,414 | 1,130 | $372,437 | 1,130 | 00.00% | Unchanged |
| AMERICAN CENTURY COMPANIES INC |
| <0.01% | <0.01% | #63 | $475,449 | 1,116 | $367,822 | 1,116 | 00.00% | Unchanged |
