UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 13F

                               FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: June 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, August 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:                           $346,324
                                                           ---------------------
                                                                 (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    9,871           79 SH        DEFINED       1              79  0      0
BIGLARI HOLDINGS INC          COM            08986R 10 1   79,497      205,743 SH        DEFINED       1         205,743  0      0
CCA INDS INC                  COM            124867 10 2    3,105      776,259 SH        DEFINED       1         776,259  0      0
CRACKER BARREL OLD CTRY STOR  COM            22410J 10 6  252,221    4,016,265 SH        DEFINED       1       4,016,265  0      0
GOLDMAN SACHS GROUP INC       COM            38141G 10 4    1,630       17,000 SH        DEFINED       1          17,000  0      0