UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2012 Check here if Amendment |_|; Amendment Number: This Amendment (Check only one): |_| is a restatement. |_| adds new holdings entries. Institutional Investment Manager filing this Report: Name: Biglari Holdings Inc. Address: 17802 IH 10 West, Suite 400, San Antonio, Texas 78257 Form 13F File Number: 028-14881 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Sardar Biglari Title: Chairman and Chief Executive Officer of Biglari Holdings Inc. Phone: (210) 344-3400 Signature, Place, and Date of Signing: /s/ Sardar Biglari, San Antonio, Texas, November 14, 2012 Report Type (Check only one): |X| 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) |_| 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) |_| 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 --------------------- Form 13F Information Table Entry Total: 5 --------------------- Form 13F Information Table Value Total: $355,471 --------------------- (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name 1 028-14882 Sardar Biglari Form 13F INFORMATION TABLE COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 -------------------------- -------------- --------- -------- -------------------- -------- ---------- --------------------- VOTING AUTHORITY VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER --------------------- NAME OF ISSUER TITLE OF CLASS CUSIP ($1,000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE -------------- -------------- ----- -------- ------- --- ---- ---------- -------- --------------------- BERKSHIRE HATHAWAY INC DEL CL A 084670 10 8 796 6 SH DEFINED 1 6 0 0 BIGLARI HOLDINGS INC COM 08986R 10 1 75,109 205,743 SH DEFINED 1 205,743 0 0 CCA INDS INC COM 124867 10 2 3,330 776,259 SH DEFINED 1 776,259 0 0 CRACKER BARREL OLD CTRY STOR COM 22410J 10 6 274,549 4,091,037 SH DEFINED 1 4,091,037 0 0 UNICO AMERN CORP COM 904607 10 8 1,687 145,185 SH DEFINED 1 1,687 0 0