CarMax, Inc.
MX ˙ BMV ˙ US1431301027
SecurityMX:KMX / CarMax, Inc.
InstitutionBiglari Capital Corp.
Latest Disclosed Ownership125,420 shares
Latest Disclosed Value $ 5,214,964
Biglari Capital Corp. ownership in KMX / CarMax, Inc.

On May 15, 2026 - Biglari Capital Corp. filed a 13F-HR form disclosing ownership of 125,420 shares of CarMax, Inc. (MX:KMX) valued at $5,214,964 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 125,420 shares of CarMax, Inc.. This represents a change in shares of 0.00% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F CARMAX COM 143130102 125,420 0 0.00 5,215 7.59 0.5177
2026-02-17 2025-12-31 13F CARMAX COM 143130102 125,420 0 0.00 4,846 -13.88 0.5196
2025-11-14 2025-09-30 13F CARMAX COM 143130102 125,420 0 0.00 5,628 -33.24 0.6162
2025-08-14 2025-06-30 13F CARMAX COM 143130102 125,420 0 0.00 8,429 -13.74 0.9744
2025-05-15 2025-03-31 13F CARMAX COM 143130102 125,420 0 0.00 9,773 -4.70 1.3784
2025-02-14 2024-12-31 13F CARMAX COM 143130102 125,420 0 0.00 10,254 5.66 1.2226
2024-11-14 2024-09-30 13F CARMAX COM 143130102 125,420 0 0.00 9,705 5.51 1.4898
2024-08-14 2024-06-30 13F CARMAX COM 143130102 125,420 -50,000 -28.50 9,198 -39.80 1.4000
2024-05-15 2024-03-31 13F CARMAX COM 143130102 175,420 87,200 98.84 15,281 125.70 2.0475
2024-02-14 2023-12-31 13F CARMAX COM 143130102 88,220 0 0.00 6,770 8.51 0.9975
2023-11-14 2023-09-30 13F CARMAX COM 143130102 88,220 0 0.00 6,240 -15.51 0.9744
2023-08-14 2023-06-30 13F CARMAX COM 143130102 88,220 0 0.00 7,384 30.23 0.9782
2023-05-15 2023-03-31 13F CARMAX COM 143130102 88,220 0 0.00 5,671 5.57 0.7893
2023-02-14 2022-12-31 13F CARMAX COM 143130102 88,220 60,220 215.07 5,372 190.48 0.9214
2022-11-14 2022-09-30 13F CARMAX COM 143130102 28,000 28,000 1,849 0.4062
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.