| Fund | Previous Shares | Current Shares ▲▼ | Change in Shares ▲▼ | Previous Portfolio Weightage (%) | Current Portfolio Weightage (%) ▲▼ | Change in Weight (%) ▲▼ | Type |
|---|---|---|---|---|---|---|---|
| BIGLARI CAPITAL CORP. | 4,000,000 | 4,000,000 | 0 | 5.20 | 5.22 | +0.02 | hold |
| DIMENSIONAL FUND ADVISORS LP | 2,360,543 | 2,273,188 | -87,355 | 0.01 | 0.01 | -0.00 | sell |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | 1,417,014 | 1,416,754 | -260 | 0.04 | 0.04 | -0.00 | sell |
| VANGUARD GROUP INC | 1,256,005 | 1,323,373 | +67,368 | 0.00 | 0.00 | +0.00 | buy |
| Fund 1 Investments, LLC | 878,238 | 1,116,736 | +238,498 | 1.68 | 1.77 | +0.09 | buy |
| FMR LLC | 917,003 | 1,070,720 | +153,717 | 0.00 | 0.00 | +0.00 | buy |
| MORGAN STANLEY | 682,369 | 791,334 | +108,965 | 0.00 | 0.00 | +0.00 | buy |
| AQR CAPITAL MANAGEMENT LLC | 637,513 | 752,288 | +114,775 | 0.01 | 0.01 | +0.00 | buy |
| Divisadero Street Capital Management, LP | 0 | 740,788 | +740,788 | 0.00 | 1.69 | +1.69 | buy |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | 638,370 | 631,470 | -6,900 | 0.02 | 0.02 | +0.00 | sell |
| GEODE CAPITAL MANAGEMENT, LLC | 608,857 | 601,940 | -6,917 | 0.00 | 0.00 | -0.00 | sell |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | 741,506 | 584,468 | -157,038 | 0.01 | 0.01 | -0.00 | sell |
| STATE STREET CORP | 524,899 | 524,843 | -56 | 0.00 | 0.00 | +0.00 | sell |
| Invenomic Capital Management LP | 165,281 | 491,244 | +325,963 | 0.08 | 0.25 | +0.18 | buy |
| Assenagon Asset Management S.A. | 355,759 | 347,574 | -8,185 | 0.01 | 0.01 | -0.00 | sell |
| RENAISSANCE TECHNOLOGIES LLC | 459,500 | 336,800 | -122,700 | 0.01 | 0.01 | -0.00 | sell |
| TWO SIGMA INVESTMENTS, LP | 460,394 | 332,781 | -127,613 | 0.01 | 0.01 | -0.00 | sell |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | 294,496 | 305,521 | +11,025 | 0.06 | 0.06 | +0.01 | buy |
| TWO SIGMA ADVISERS, LP | 390,400 | 256,000 | -134,400 | 0.01 | 0.01 | -0.00 | sell |
| CITADEL ADVISORS LLC | 303,779 | 231,750 | -72,029 | 0.00 | 0.00 | -0.00 | sell |
| NORTHERN TRUST CORP | 228,318 | 224,029 | -4,289 | 0.00 | 0.00 | +0.00 | sell |
| AMERIPRISE FINANCIAL INC | 222,708 | 218,328 | -4,380 | 0.00 | 0.00 | -0.00 | sell |
| Rodgers Brothers Inc. | 207,225 | 212,725 | +5,500 | 0.29 | 0.28 | -0.01 | buy |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 207,675 | 208,758 | +1,083 | 0.00 | 0.00 | +0.00 | buy |
| BANK OF AMERICA CORP /DE/ | 156,656 | 154,411 | -2,245 | 0.00 | 0.00 | -0.00 | sell |
| Empowered Funds, LLC | 136,196 | 147,221 | +11,025 | 0.03 | 0.03 | -0.00 | buy |
| Man Group plc | 0 | 146,294 | +146,294 | 0.00 | 0.00 | +0.00 | buy |
| First Eagle Investment Management, LLC | 34,498 | 145,498 | +111,000 | 0.00 | 0.00 | +0.00 | buy |
| Invesco Ltd. | 43,843 | 145,286 | +101,443 | 0.00 | 0.00 | +0.00 | buy |
| DEUTSCHE BANK AG\ | 126,461 | 126,461 | 0 | 0.00 | 0.00 | +0.00 | hold |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | 127,485 | 123,908 | -3,577 | 0.00 | 0.00 | +0.00 | sell |
| BIGLARI, SARDAR | 120,000 | 120,000 | 0 | 3.69 | 3.80 | +0.11 | hold |
| Bank of New York Mellon Corp | 128,703 | 115,961 | -12,742 | 0.00 | 0.00 | -0.00 | sell |
| D. E. Shaw & Co., Inc. | 118,169 | 112,230 | -5,939 | 0.00 | 0.00 | -0.00 | sell |
| Russell Investments Group, Ltd. | 11,397 | 102,257 | +90,860 | 0.00 | 0.00 | +0.00 | buy |
| Campbell & CO Investment Adviser LLC | 118,947 | 87,318 | -31,629 | 0.09 | 0.07 | -0.02 | sell |
| Trexquant Investment LP | 87,788 | 81,571 | -6,217 | 0.02 | 0.02 | -0.00 | sell |
| GSA CAPITAL PARTNERS LLP | 55,778 | 77,008 | +21,230 | 0.04 | 0.06 | +0.02 | buy |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | 91,644 | 74,306 | -17,338 | 0.00 | 0.00 | -0.00 | sell |
| FIRST TRUST ADVISORS LP | 74,256 | 73,086 | -1,170 | 0.00 | 0.00 | +0.00 | sell |
| GOLDMAN SACHS GROUP INC | 83,099 | 72,115 | -10,984 | 0.00 | 0.00 | -0.00 | sell |
| PRUDENTIAL FINANCIAL INC | 60,535 | 66,135 | +5,600 | 0.00 | 0.00 | +0.00 | buy |
| BARCLAYS PLC | 84,026 | 65,338 | -18,688 | 0.00 | 0.00 | -0.00 | sell |
| STIFEL FINANCIAL CORP | 46,625 | 59,625 | +13,000 | 0.00 | 0.00 | +0.00 | buy |
| AlphaQuest LLC | 77,674 | 52,150 | -25,524 | 0.15 | 0.09 | -0.06 | sell |
| CORNERCAP INVESTMENT COUNSEL INC | 52,110 | 52,110 | 0 | 0.08 | 0.08 | +0.00 | hold |
| Qube Research & Technologies Ltd | 15,630 | 49,960 | +34,330 | 0.00 | 0.00 | +0.00 | buy |
| Petrus Trust Company, LTA | 49,275 | 49,275 | 0 | 0.04 | 0.04 | +0.00 | hold |
| BNP PARIBAS FINANCIAL MARKETS | 30,544 | 44,648 | +14,104 | 0.00 | 0.00 | +0.00 | buy |
| Connor, Clark & Lunn Investment Management Ltd. | 112,711 | 43,152 | -69,559 | 0.00 | 0.00 | -0.00 | sell |
| RHUMBLINE ADVISERS | 42,093 | 42,775 | +682 | 0.00 | 0.00 | +0.00 | buy |
| AdvisorShares Investments LLC | 54,400 | 42,632 | -11,768 | 0.11 | 0.07 | -0.04 | sell |
| LEVEL FOUR ADVISORY SERVICES, LLC | 41,897 | 41,897 | 0 | 0.02 | 0.02 | -0.00 | hold |
| ExodusPoint Capital Management, LP | 64,357 | 36,734 | -27,623 | 0.01 | 0.00 | -0.00 | sell |
| MARSHALL WACE, LLP | 0 | 36,295 | +36,295 | 0.00 | 0.00 | +0.00 | buy |
| MILLENNIUM MANAGEMENT LLC | 61,808 | 35,331 | -26,477 | 0.00 | 0.00 | -0.00 | sell |
| UBS Group AG | 0 | 35,159 | +35,159 | 0.00 | 0.00 | +0.00 | buy |
| Walleye Capital LLC | 0 | 31,862 | +31,862 | 0.00 | 0.00 | +0.00 | buy |
| AMERICAN CENTURY COMPANIES INC | 21,615 | 28,932 | +7,317 | 0.00 | 0.00 | +0.00 | buy |
| State of Wyoming | 35,329 | 26,935 | -8,394 | 0.06 | 0.04 | -0.01 | sell |
| Dynamic Technology Lab Private Ltd | 0 | 26,679 | +26,679 | 0.00 | 0.03 | +0.03 | buy |
| Jump Financial, LLC | 26,059 | 25,600 | -459 | 0.01 | 0.01 | -0.00 | sell |
| SIMPLEX TRADING, LLC | 39,401 | 25,421 | -13,980 | 0.01 | 0.01 | -0.00 | sell |
| Engineers Gate Manager LP | 21,805 | 24,412 | +2,607 | 0.01 | 0.01 | +0.00 | buy |
| ROYAL BANK OF CANADA | 31,455 | 23,926 | -7,529 | 0.00 | 0.00 | -0.00 | sell |
| WELLS FARGO & COMPANY/MN | 22,371 | 22,659 | +288 | 0.00 | 0.00 | +0.00 | buy |
| Boston Partners | 0 | 22,195 | +22,195 | 0.00 | 0.00 | +0.00 | buy |
| OCCUDO QUANTITATIVE STRATEGIES LP | 35,166 | 22,069 | -13,097 | 0.04 | 0.04 | -0.00 | sell |
| SEI INVESTMENTS CO | 21,913 | 21,913 | 0 | 0.00 | 0.00 | +0.00 | hold |
| ALLIANCEBERNSTEIN L.P. | 20,130 | 20,130 | 0 | 0.00 | 0.00 | +0.00 | hold |
| Quadrature Capital Ltd | 0 | 18,664 | +18,664 | 0.00 | 0.00 | +0.00 | buy |
| SHERBROOKE PARK ADVISERS LLC | 0 | 18,210 | +18,210 | 0.00 | 0.03 | +0.03 | buy |
| Hedges Asset Management LLC | 15,000 | 15,000 | 0 | 0.10 | 0.10 | -0.00 | hold |
| Aquatic Capital Management LLC | 0 | 14,600 | +14,600 | 0.00 | 0.00 | +0.00 | buy |
| TUDOR INVESTMENT CORP ET AL | 56,214 | 14,545 | -41,669 | 0.01 | 0.00 | -0.01 | sell |
| HSBC HOLDINGS PLC | 0 | 14,516 | +14,516 | 0.00 | 0.00 | +0.00 | buy |
| AMERICAN INTERNATIONAL GROUP, INC. | 13,824 | 13,706 | -118 | 0.00 | 0.00 | -0.00 | sell |
| STATE OF WISCONSIN INVESTMENT BOARD | 40,900 | 11,700 | -29,200 | 0.00 | 0.00 | -0.00 | sell |
| Nebula Research & Development LLC | 12,931 | 11,210 | -1,721 | 0.03 | 0.02 | -0.01 | sell |
| Paloma Partners Management Co | 0 | 10,884 | +10,884 | 0.00 | 0.02 | +0.02 | buy |
| MIRABELLA FINANCIAL SERVICES LLP | 0 | 10,884 | +10,884 | 0.00 | 0.01 | +0.01 | buy |
| LPL Financial LLC | 12,833 | 10,867 | -1,966 | 0.00 | 0.00 | -0.00 | sell |
| MetLife Investment Management, LLC | 15,223 | 10,344 | -4,879 | 0.00 | 0.00 | -0.00 | sell |
| Blue Trust, Inc. | 10,330 | 10,318 | -12 | 0.00 | 0.00 | -0.00 | sell |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | 11,269 | 10,174 | -1,095 | 0.00 | 0.00 | +0.00 | sell |
| OSAIC HOLDINGS, INC. | 6,737 | 6,737 | 0 | 0.00 | 0.00 | +0.00 | hold |
| NEW YORK STATE COMMON RETIREMENT FUND | 6,557 | 6,532 | -25 | 0.00 | 0.00 | +0.00 | sell |
| CITIGROUP INC | 4,474 | 5,950 | +1,476 | 0.00 | 0.00 | +0.00 | buy |
| Gladius Capital Management LP | 3,572 | 3,687 | +115 | 0.02 | 0.04 | +0.02 | buy |
| CWM, LLC | 2,571 | 2,839 | +268 | 0.00 | 0.00 | +0.00 | buy |
| Ameritas Investment Partners, Inc. | 2,823 | 2,823 | 0 | 0.00 | 0.00 | +0.00 | hold |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | 4,578 | 2,797 | -1,781 | 0.00 | 0.00 | -0.00 | sell |
| Legal & General Group Plc | 3,260 | 2,433 | -827 | 0.00 | 0.00 | -0.00 | sell |
| METROPOLITAN LIFE INSURANCE CO/NY | 1,577 | 1,560 | -17 | 0.00 | 0.00 | +0.00 | sell |
| MEEDER ASSET MANAGEMENT INC | 0 | 1,178 | +1,178 | 0.00 | 0.00 | +0.00 | buy |
| NISA INVESTMENT ADVISORS, LLC | 955 | 955 | 0 | 0.00 | 0.00 | +0.00 | hold |
| LAZARD ASSET MANAGEMENT LLC | 5,094 | 950 | -4,144 | 0.00 | 0.00 | -0.00 | sell |
| AMALGAMATED BANK | 2,496 | 664 | -1,832 | 0.00 | 0.00 | -0.00 | sell |
| US BANCORP \DE\ | 0 | 250 | +250 | 0.00 | 0.00 | +0.00 | buy |
| SJS Investment Consulting Inc. | 0 | 200 | +200 | 0.00 | 0.00 | +0.00 | buy |