Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
BIGLARI, SARDAR
   2. Issuer Name and Ticker or Trading Symbol
BIGLARI HOLDINGS INC. [BH] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chairman and CEO
(Last)
(First)
(Middle)
C/O THE LION FUND, L.P., 9311 SAN PEDRO AVENUE, SUITE 1440		 3. Date of Earliest Transaction (Month/Day/Year)
04/30/2010
(Street)

SAN ANTONIO, TX 78216		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $.50 04/30/2010   J(1)   211 D $ 0 0 I By Western Sizzlin Corp.
Common Stock, par value $.50 04/30/2010   J(2)   3,318 D $ 0 2,386 I (3) By Western Acquisitions L.P.
Common Stock, par value $.50               76,421 I (4) By The Lion Fund, L.P.
Common Stock, par value $.50               1,500 I (5) By Mustang Capital Partners II, LP
Common Stock, par value $.50               7,250 I (6) By Mustang Capital Partners I, LP

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
BIGLARI, SARDAR
C/O THE LION FUND, L.P.
9311 SAN PEDRO AVENUE, SUITE 1440
SAN ANTONIO, TX 78216		   X     Chairman and CEO  

Signatures

 /s/ Biglari, Sardar   05/04/2010
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Shares distributed by Western Sizzlin Corp. ("Western Sizzlin") to Biglari Holdings Inc. ("Biglari Holdings") for no additional consideration. Biglari Holdings has retired such shares and accordingly reduced the number of shares outstanding.
(2) Shares distributed by Western Acquisitions L.P. ("Western Acquisitions") to Biglari Holdings, its ultimate parent company, for no additional consideration. Biglari Holdings has retired such shares and accordingly reduced the number of shares outstanding.
(3) Shares owned directly by Western Acquisitions. Western Investments Inc. ("Western Investments") is the general partner of Western Acquisitions. Western Investments is a wholly-owned subsidiary of Western Sizzlin. Western Sizzlin is a wholly-owned subsidiary of Biglari Holdings. Sardar Biglari is the Chairman and Chief Executive Officer of each of Western Investments, Western Sizzlin and Biglari Holdings and has investment discretion over the securities owned by Western Acquisitions. By virtue of these relationships, Sardar Biglari may be deemed to beneficially own the shares held directly by Western Acquisitions. Sardar Biglari disclaims beneficial ownership of the shares held directly by Western Acquisitions except to the extent of his pecuniary interest therein.
(4) Shares owned directly by the Lion Fund, L.P. ("Lion Fund"). Biglari Capital Corp. ("Biglari Capital") is the general partner of the Lion Fund. Biglari Capital is a wholly-owned subsidiary of Biglari Holdings. Sardar Biglari is the Chairman and Chief Executive Officer of each of Biglari Capital and Biglari Holdings and has investment discretion over the securities owned by the Lion Fund. By virtue of these relationships, Sardar Biglari may be deemed to beneficially own the shares held directly by the Lion Fund. Sardar Biglari disclaims beneficial ownership of the shares held directly by the Lion Fund except to the extent of his pecuniary interest therein.
(5) Shares owned directly by Mustang Capital Partners II, LP ("MCPII"). Western Sizzlin has a controlling interest in the investment manager to and general partner of MCPII. Western Sizzlin is a wholly-owned subsidiary of Biglari Holdings. Sardar Biglari is the Chairman and Chief Executive Officer of each of Western Sizzlin and Biglari Holdings and has investment discretion over the securities owned by MCPII. By virtue of these relationships, Sardar Biglari may be deemed to beneficially own the shares held directly by MCPII. Sardar Biglari disclaims beneficial ownership of the shares held directly by MCPII except to the extent of his pecuniary interest therein.
(6) Shares owned directly by Mustang Capital Partners I, LP ("MCPI"). Western Sizzlin has a controlling interest in the investment manager to and general partner of MCPI. Western Sizzlin is a wholly-owned subsidiary of Biglari Holdings. Sardar Biglari is the Chairman and Chief Executive Officer of each of Western Sizzlin and Biglari Holdings and has investment discretion over the securities owned by MCPI. By virtue of these relationships, Sardar Biglari may be deemed to beneficially own the shares held directly by MCPI. Sardar Biglari disclaims beneficial ownership of the shares held directly by MCPI except to the extent of his pecuniary interest therein.

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