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Filing Details

Accession Number:: 0000921895-16-003186
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2016-02-05 16:05:39
Reporting Period:: 2016-02-03

Filing Date:: 2016-02-05
Accepted Time:: 2016-02-05 16:05:39
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
93859	Biglari Holdings Inc.	BH	Retail-Eating Places (5812)	370684070

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1334426	Lion Fund, L.p.	17802 Ih 10 West, Suite 400 San Antonio TX 78257		No	No	Yes	No
1334429	Biglari Capital Corp.	17802 Ih 10 West, Suite 400 San Antonio TX 78257		No	No	Yes	No
1334430	Biglari, Sardar	17802 Ih 10 West, Suite 400 San Antonio TX 78257	Chairman And Ceo	Yes	Yes	Yes	No
1580602	Lion Fund Ii, L.p.	17802 Ih 10 West, Suite 400 San Antonio TX 78257		No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, Stated Value $0.50 Per Share	Acquisiton	2016-02-03	854	$383.99	640,312	No	4	P	Indirect	By The Lion Fund II, L.P.

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	By The Lion Fund II, L.P.

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock, Stated Value $0.50 Per Share	31,019	Direct
Common Stock, Stated Value $0.50 Per Share	365,726	Indirect	By The Lion Fund, L.P.

Footnotes

This Form 4 is filed jointly by Sardar Biglari, The Lion Fund, L.P. (the "Lion Fund I"), The Lion Fund II, L.P. (the "Lion Fund II"), and Biglari Capital Corp ("BCC"). Each of Mr. Biglari, the Lion Fund I, the Lion Fund II and BCC is a member of a Section 13(d) group that owns more than 10% of the Issuer's outstanding Common Stock. Each of Mr. Biglari, the Lion Fund I, the Lion Fund II and BCC disclaims beneficial ownership of the shares of Common Stock reported herein except to the extent of his or its pecuniary interest therein.
Shares owned directly by the Lion Fund I. BCC is the general partner of the Lion Fund I. Mr. Biglari is the Chairman and Chief Executive Officer of BCC and has investment discretion over the securities owned by the Lion Fund I. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund I.
Shares owned directly by the Lion Fund II. BCC is the general partner of the Lion Fund II. Mr. Biglari is the Chairman and Chief Executive Officer of BCC and has investment discretion over the securities owned by the Lion Fund II. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II.
The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.
The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $380.00 to $390.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote 5 to this Form 4.