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
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
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
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 9,503 80,000 SH   DFND 1,3 80,000 0 0
ALLEGHANY CORP MD COM 017175100 1,001 1,500 SH   DFND 1,2 1,500 0 0
ALLEGHANY CORP MD COM 017175100 18,092 27,100 SH   DFND 1,3 27,100 0 0
BAUSCH HEALTH COS INC COM 071734107 10,906 395,000 SH   DFND 1,2 395,000 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 901 2 SH   DFND 1,2 2 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 45,066 100 SH   DFND 1,3 100 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 1,794 6,000 SH   DFND 1,2 6,000 0 0
BIGLARI HLDGS INC COM STK CL A 08986R408 17,836 25,663 SH   DFND 1 25,663 0 0
BIGLARI HLDGS INC COM STK CL A 08986R408 25,417 36,572 SH   DFND 1,2 36,572 0 0
BIGLARI HLDGS INC COM STK CL A 08986R408 58,008 83,465 SH   DFND 1,3 83,465 0 0
BIGLARI HLDGS INC COM STK CL B 08986R309 10,244 71,855 SH   DFND 1 0 0 71,855
BIGLARI HLDGS INC COM STK CL B 08986R309 52,142 365,726 SH   DFND 1,2 0 0 365,726
BIGLARI HLDGS INC COM STK CL B 08986R309 126,926 890,272 SH   DFND 1,3 0 0 890,272
CRACKER BARREL OLD CTRY STOR COM 22410J106 257,280 2,000,000 SH   DFND 1,3 2,000,000 0 0
UNICO AMERN CORP COM 904607108 1,813 527,100 SH   DFND 1,2 527,100 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100 4,211 35,000 SH   DFND 1,2 35,000 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100 13,475 112,000 SH   DFND 1,3 112,000 0 0