Form D · Hedge Fund

LION FUND II, L.P.

San Antonio, TX · CIK 0001580602

Offering snapshot reported Jul 17, 2014 · SEC filing

Reported sold: $461M
Investors reported: 4
Minimum accepted: $5M
First sale: Jul 1, 2013

Fundraising history

Reported sold

Dates are filing dates, not cash receipt dates. Decreases are reported revisions, not evidence of withdrawals. Separate offering histories are not added together.

What changed?

Latest filing versus its linked predecessor, where available.

Reported sold$335,180,067 → $460,783,307
Reported investors2 → 4

Filing history

Scroll to see all columns →

Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Jul 17, 2014	Amendment	$460,783,307	$125,603,240vs Jul 16, 2013	4	SEC filing
Jul 16, 2013	Initial	$335,180,067	No comparison	2	SEC filing

Offering details

Securities: Pooled investment fund
Exemptions: 06b, 3C, 3C.7
Duration over one year: Yes
Business combination: No

Sales commissions: $0
Finders' fees: $0
Form D file number: 021-199715

Source: Form D, filed Jul 17, 2014. Minimum accepted may differ from a standard advertised minimum.

Fund connections

The linked fund shows its most recently reported ADV details.

Matched by reported Form D file number

THE LION FUND II, L.P.

Investment adviser: BIGLARI CAPITAL LLC

Gross asset value: $293M
Beneficial owners: 7
ADV minimum commitment: $5M

Reported in Form ADV on Mar 28, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Auditor DELOITTE & TOUCHE LLP AUSTIN, Texas, United States

Custodian CHARLES SCHWAB INVESTMENT ADVISORY, INC. SAN FRANCISCO, California, United States Related to adviser: No

Custodian INTERACTIVE BROKERS LLC CHICAGO, Illinois, United States Related to adviser: No

Custodian J.P. MORGAN SECURITIES LLC NEW YORK, New York, United States Related to adviser: No

Custodian WELLS FARGO BANK, NA SAN ANTONIO, Texas, United States Related to adviser: No

Prime broker J.P. MORGAN SECURITIES LLC NEW YORK, New York, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: No
External marketing: No

DELOITTE & TOUCHE LLP
PCAOB 34

INTERACTIVE BROKERS LLC
SEC 8-47257

J.P. MORGAN SECURITIES LLC
SEC 8-35008

Filing source

Form ADV 2086022 · Mar 28, 2026 · Schedule D 7.B.(1), fund 805-1397254417

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Related funds

Funds whose names form a numbered series with this one and that share its city or the name of a related person. Form D does not state how these funds are related.

Fund	Latest Form D	Reported sold	Investors
LION FUND, L.P.	Jul 17, 2014	$130,277,076	90
LION FUND II, L.P. (this fund)	Jul 17, 2014	$460,783,307	4

People & organizations

Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.

People and organizations reported in Form D filings
Name	Reported role
Sardar Biglari	Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

C/O Biglari Capital Corp. 17802 Ih 10 West, Suite 400
San Antonio, TX, 78257