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Filing Details

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
1334430	Biglari, Sardar	Biglari Holdings Inc. 175 East Houston Street, Suite 1300 San Antonio TX 78205	Chairman And Ceo	Yes	Yes	Yes	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, Par Value $.50	Acquisiton	2011-03-11	350	$405.27	4,871	No	4	P	Direct
Common Stock, Par Value $.50	Acquisiton	2011-03-14	639	$403.66	5,510	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Direct
No	4	P	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock, Par Value $.50	203,357	Indirect	By The Lion Fund, L.P.
Common Stock, Par Value $.50	2,386	Indirect	By Western Acquisitions L.P.

Footnotes

Represents shares purchased pursuant to Mr. Biglari's Incentive Agreement with the Issuer.
Shares owned directly by The Lion Fund, L.P. ("Lion Fund"). Sardar Biglari is the Chairman and Chief Executive Officer of Biglari Capital Corp. ("BCC"), the general partner of Lion Fund, and has been delegated investment discretion over the securities owned by Lion Fund. Accordingly, BCC and Sardar Biglari may be deemed to beneficially own the shares held directly by Lion Fund. Each of BCC and Sardar Biglari disclaims beneficial ownership of the shares held directly by Lion Fund except to the extent of his or its pecuniary interest therein.
Shares owned directly by Western Acquisitions L.P. ("Western Acquisitions"). Western Investments Inc. ("Western Investments") is the general partner of Western Acquisitions and a wholly-owned subsidiary of Western Sizzlin Corp. ("WSC"). Sardar Biglari is the Chairman and Chief Executive Officer of each of Western Investments and WSC and has been delegated investment discretion over the securities owned by Western Acquisitions. Accordingly, WSC, Western Investments and Sardar Biglari may be deemed to beneficially own the shares held directly by Western Acquisitions. Each of WSC, Western Investments and Sardar Biglari disclaims beneficial ownership of the shares held directly by Western Acquisitions except to the extent of his or its pecuniary interest therein.