| 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 | 5.09 | 4.25 | -0.84 | hold |
| BlackRock, Inc. | 2,293,712 | 2,331,737 | +38,025 | 0.00 | 0.00 | -0.00 | buy |
| DIMENSIONAL FUND ADVISORS LP | 2,086,442 | 2,017,430 | -69,012 | 0.01 | 0.00 | -0.00 | sell |
| LSV ASSET MANAGEMENT | 1,560,052 | 1,489,052 | -71,000 | 0.04 | 0.03 | -0.01 | sell |
| VANGUARD GROUP INC | 1,383,165 | 1,400,032 | +16,867 | 0.00 | 0.00 | -0.00 | buy |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | 1,242,563 | 1,171,235 | -71,328 | 0.04 | 0.03 | -0.01 | sell |
| Tieton Capital Management, LLC | 629,990 | 853,199 | +223,209 | 2.71 | 2.87 | +0.16 | buy |
| Divisadero Street Capital Management, LP | 1,231,087 | 837,650 | -393,437 | 0.91 | 0.38 | -0.53 | sell |
| First Eagle Investment Management, LLC | 726,393 | 741,793 | +15,400 | 0.02 | 0.01 | -0.00 | buy |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | 618,990 | 630,903 | +11,913 | 0.02 | 0.02 | -0.00 | buy |
| GEODE CAPITAL MANAGEMENT, LLC | 615,280 | 627,950 | +12,670 | 0.00 | 0.00 | -0.00 | buy |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | 601,458 | 590,087 | -11,371 | 0.00 | 0.00 | -0.00 | sell |
| STATE STREET CORP | 566,312 | 560,348 | -5,964 | 0.00 | 0.00 | -0.00 | sell |
| GOLDMAN SACHS GROUP INC | 58,561 | 534,915 | +476,354 | 0.00 | 0.00 | +0.00 | buy |
| BIGLARI, SARDAR | 489,247 | 489,247 | 0 | 11.43 | 9.56 | -1.87 | hold |
| Nuveen, LLC | 467,842 | 460,931 | -6,911 | 0.00 | 0.00 | -0.00 | sell |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | 365,249 | 391,941 | +26,692 | 0.10 | 0.08 | -0.01 | buy |
| MORGAN STANLEY | 243,351 | 380,068 | +136,717 | 0.00 | 0.00 | +0.00 | buy |
| PRUDENTIAL FINANCIAL INC | 225,440 | 373,040 | +147,600 | 0.00 | 0.00 | +0.00 | buy |
| Hillsdale Investment Management Inc. | 298,196 | 359,396 | +61,200 | 0.12 | 0.11 | -0.02 | buy |
| RENAISSANCE TECHNOLOGIES LLC | 363,000 | 355,000 | -8,000 | 0.01 | 0.00 | -0.00 | sell |
| Rodgers Brothers Inc. | 336,180 | 345,150 | +8,970 | 0.47 | 0.41 | -0.05 | buy |
| Fund 1 Investments, LLC | 189,444 | 253,956 | +64,512 | 0.30 | 0.30 | +0.01 | buy |
| Empowered Funds, LLC | 206,949 | 233,641 | +26,692 | 0.03 | 0.02 | -0.00 | buy |
| BANK OF AMERICA CORP /DE/ | 227,281 | 214,682 | -12,599 | 0.00 | 0.00 | -0.00 | sell |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 199,495 | 214,319 | +14,824 | 0.00 | 0.00 | -0.00 | buy |
| TWO SIGMA INVESTMENTS, LP | 24,108 | 214,123 | +190,015 | 0.00 | 0.00 | +0.00 | buy |
| NORTHERN TRUST CORP | 187,293 | 203,151 | +15,858 | 0.00 | 0.00 | -0.00 | buy |
| MONIMUS CAPITAL MANAGEMENT, LP | 123,978 | 188,545 | +64,567 | 1.10 | 1.36 | +0.26 | buy |
| D. E. Shaw & Co., Inc. | 158,796 | 174,137 | +15,341 | 0.00 | 0.00 | -0.00 | buy |
| AMERIPRISE FINANCIAL INC | 191,805 | 166,671 | -25,134 | 0.00 | 0.00 | -0.00 | sell |
| AQR CAPITAL MANAGEMENT LLC | 188,175 | 148,533 | -39,642 | 0.00 | 0.00 | -0.00 | sell |
| Archon Capital Management LLC | 0 | 140,490 | +140,490 | 0.00 | 0.81 | +0.81 | buy |
| LAZARD ASSET MANAGEMENT LLC | 53,642 | 105,743 | +52,101 | 0.00 | 0.00 | +0.00 | buy |
| Universal- Beteiligungs- und Servicegesellschaft mbH | 99,300 | 99,300 | 0 | 0.00 | 0.00 | -0.00 | hold |
| UBS Group AG | 156,913 | 92,661 | -64,252 | 0.00 | 0.00 | -0.00 | sell |
| Carlson Capital, L.P. | 61,000 | 92,000 | +31,000 | 0.38 | 0.51 | +0.12 | buy |
| MACQUARIE GROUP LTD | 91,000 | 91,000 | 0 | 0.00 | 0.00 | -0.00 | hold |
| Bank of New York Mellon Corp | 89,893 | 90,561 | +668 | 0.00 | 0.00 | -0.00 | buy |
| TWO SIGMA ADVISERS, LP | 22,500 | 82,800 | +60,300 | 0.00 | 0.00 | +0.00 | buy |
| Janney Montgomery Scott LLC | 86,556 | 81,531 | -5,025 | 0.00 | 0.00 | -0.00 | sell |
| Trexquant Investment LP | 0 | 76,665 | +76,665 | 0.00 | 0.01 | +0.01 | buy |
| SummerHaven Investment Management, LLC | 0 | 76,365 | +76,365 | 0.00 | 0.43 | +0.43 | buy |
| Campbell & CO Investment Adviser LLC | 113,927 | 74,481 | -39,446 | 0.08 | 0.05 | -0.02 | sell |
| BARCLAYS PLC | 80,101 | 72,684 | -7,417 | 0.00 | 0.00 | -0.00 | sell |
| JANE STREET GROUP, LLC | 0 | 66,639 | +66,639 | 0.00 | 0.00 | +0.00 | buy |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | 78,852 | 62,922 | -15,930 | 0.00 | 0.00 | -0.00 | sell |
| STIFEL FINANCIAL CORP | 60,405 | 62,525 | +2,120 | 0.00 | 0.00 | -0.00 | buy |
| Invesco Ltd. | 78,269 | 57,438 | -20,831 | 0.00 | 0.00 | -0.00 | sell |
| AMERICAN CENTURY COMPANIES INC | 50,748 | 57,376 | +6,628 | 0.00 | 0.00 | -0.00 | buy |
| Boston Partners | 50,051 | 57,321 | +7,270 | 0.00 | 0.00 | -0.00 | buy |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | 127,565 | 54,793 | -72,772 | 0.00 | 0.00 | -0.00 | sell |
| AlphaQuest LLC | 64,145 | 53,759 | -10,386 | 0.07 | 0.03 | -0.04 | sell |
| AdvisorShares Investments LLC | 14,739 | 49,539 | +34,800 | 0.03 | 0.08 | +0.05 | buy |
| GABELLI FUNDS LLC | 47,101 | 47,101 | 0 | 0.00 | 0.00 | -0.00 | hold |
| FULLER & THALER ASSET MANAGEMENT, INC. | 38,794 | 38,794 | 0 | 0.00 | 0.00 | -0.00 | hold |
| RHUMBLINE ADVISERS | 42,013 | 38,114 | -3,899 | 0.00 | 0.00 | -0.00 | sell |
| Verition Fund Management LLC | 37,520 | 37,520 | 0 | 0.00 | 0.00 | -0.00 | hold |
| STATE OF WISCONSIN INVESTMENT BOARD | 66,763 | 35,663 | -31,100 | 0.00 | 0.00 | -0.00 | sell |
| Aquatic Capital Management LLC | 319 | 35,498 | +35,179 | 0.00 | 0.01 | +0.01 | buy |
| PANAGORA ASSET MANAGEMENT INC | 33,278 | 33,278 | 0 | 0.00 | 0.00 | -0.00 | hold |
| WELLS FARGO & COMPANY/MN | 29,167 | 30,991 | +1,824 | 0.00 | 0.00 | -0.00 | buy |
| Creative Planning | 21,792 | 27,726 | +5,934 | 0.00 | 0.00 | +0.00 | buy |
| ALLIANCEBERNSTEIN L.P. | 27,430 | 27,430 | 0 | 0.00 | 0.00 | -0.00 | hold |
| BAILARD, INC. | 22,700 | 23,700 | +1,000 | 0.01 | 0.00 | -0.00 | buy |
| HSBC HOLDINGS PLC | 24,356 | 21,809 | -2,547 | 0.00 | 0.00 | -0.00 | sell |
| Connor, Clark & Lunn Investment Management Ltd. | 62,265 | 21,239 | -41,026 | 0.00 | 0.00 | -0.00 | sell |
| SEI INVESTMENTS CO | 18,313 | 20,413 | +2,100 | 0.00 | 0.00 | -0.00 | buy |
| LEVEL FOUR ADVISORY SERVICES, LLC | 18,484 | 17,884 | -600 | 0.01 | 0.01 | -0.00 | sell |
| PRICE T ROWE ASSOCIATES INC /MD/ | 12,690 | 14,019 | +1,329 | 0.00 | 0.00 | -0.00 | buy |
| Ballentine Partners, LLC | 11,542 | 13,590 | +2,048 | 0.00 | 0.00 | -0.00 | buy |
| Quantinno Capital Management LP | 0 | 13,555 | +13,555 | 0.00 | 0.00 | +0.00 | buy |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 14,861 | 12,584 | -2,277 | 0.00 | 0.00 | -0.00 | sell |
| BOOTHBAY FUND MANAGEMENT, LLC | 0 | 11,495 | +11,495 | 0.00 | 0.00 | +0.00 | buy |
| SG Americas Securities, LLC | 0 | 10,995 | +10,995 | 0.00 | 0.00 | +0.00 | buy |
| JPMORGAN CHASE & CO | 12,510 | 10,664 | -1,846 | 0.00 | 0.00 | -0.00 | sell |
| Focus Partners Wealth | 10,154 | 10,189 | +35 | 0.00 | 0.00 | -0.00 | buy |
| Quinn Opportunity Partners LLC | 0 | 10,000 | +10,000 | 0.00 | 0.01 | +0.01 | buy |
| MetLife Investment Management, LLC | 15,248 | 9,735 | -5,513 | 0.00 | 0.00 | -0.00 | sell |
| Blue Trust, Inc. | 8,241 | 7,241 | -1,000 | 0.00 | 0.00 | -0.00 | sell |
| NEW YORK STATE COMMON RETIREMENT FUND | 6,535 | 6,535 | 0 | 0.00 | 0.00 | -0.00 | hold |
| EMC Capital Management | 6,516 | 6,516 | 0 | 0.04 | 0.03 | -0.01 | hold |
| Police & Firemen's Retirement System of New Jersey | 6,237 | 6,237 | 0 | 0.00 | 0.00 | -0.00 | hold |
| SIMPLEX TRADING, LLC | 11,011 | 5,365 | -5,646 | 0.00 | 0.00 | -0.00 | sell |
| BNP PARIBAS FINANCIAL MARKETS | 2,784 | 5,277 | +2,493 | 0.00 | 0.00 | +0.00 | buy |
| CWM, LLC | 4,229 | 4,483 | +254 | 0.00 | 0.00 | -0.00 | buy |
| Ameritas Investment Partners, Inc. | 2,823 | 2,823 | 0 | 0.00 | 0.00 | -0.00 | hold |
| Russell Investments Group, Ltd. | 28,911 | 2,749 | -26,162 | 0.00 | 0.00 | -0.00 | sell |
| Legal & General Group Plc | 2,433 | 2,433 | 0 | 0.00 | 0.00 | -0.00 | hold |
| FEDERATED HERMES, INC. | 4,479 | 2,363 | -2,116 | 0.00 | 0.00 | -0.00 | sell |
| CITIGROUP INC | 10,518 | 2,131 | -8,387 | 0.00 | 0.00 | -0.00 | sell |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | 1,874 | 1,876 | +2 | 0.00 | 0.00 | -0.00 | buy |
| Sterling Capital Management LLC | 729 | 1,827 | +1,098 | 0.00 | 0.00 | +0.00 | buy |
| QUADRANT CAPITAL GROUP LLC | 0 | 1,762 | +1,762 | 0.00 | 0.00 | +0.00 | buy |
| Tower Research Capital LLC (TRC) | 3,862 | 1,564 | -2,298 | 0.00 | 0.00 | -0.00 | sell |
| FMR LLC | 932 | 1,276 | +344 | 0.00 | 0.00 | +0.00 | buy |
| EverSource Wealth Advisors, LLC | 1,480 | 1,225 | -255 | 0.00 | 0.00 | -0.00 | sell |
| Quantbot Technologies LP | 0 | 1,154 | +1,154 | 0.00 | 0.00 | +0.00 | buy |
| NISA INVESTMENT ADVISORS, LLC | 1,014 | 1,014 | 0 | 0.00 | 0.00 | -0.00 | hold |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | 1,000 | 1,000 | 0 | 0.00 | 0.00 | -0.00 | hold |