Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BRK/B	Berkshire Hathaway 'B'	606,864	$71.95M	9.6%	$110.02	+5.1%	COM	084670702
FRFHF	Fairfax Financial Hld	167,133	$66.86M	8.9%	$316.93	+1.6%	COM	303901102
HCA	HCA Holdings, Inc.	739,666	$35.29M	4.7%	$35.96	+19.5%	COM	40412C101
—	Corrections Corp Amer	878,327	$28.17M	3.8%	$33.83	—	COM	22025y407
BLX	Banco LatinoAmericano	748,572	$20.98M	2.8%	$11.35	+16.8%	COM	P16994132
L	Loews Corp.	427,949	$20.64M	2.8%	$42.08	+7.0%	COM	540424108
—	Level 3 Commun	579,833	$19.23M	2.6%	$21.08	—	COM	52729N308
—	Gannett Co. Inc.	625,679	$18.51M	2.5%	$24.46	—	COM	364730101
XOM	Exxon Mobil Corp.	170,345	$17.24M	2.3%	$53.69	+4.2%	COM	30231G102
—	People's United Financial	1,125,740	$17.02M	2.3%	$14.90	—	COM	712704105
—	Accenture Ltd	203,245	$16.71M	2.2%	$72.03	—	COM	g1151c101
—	Chesapeake Energy	581,300	$15.78M	2.1%	$20.66	—	COM	165167107
—	Pall Corp.	160,000	$13.66M	1.8%	$66.43	—	COM	696429307
—	National Health Invstrs	237,497	$13.32M	1.8%	$59.86	—	COM	63633d104
PG	Procter & Gamble Co.	151,311	$12.32M	1.6%	$55.00	+5.5%	COM	742718109
AAPL	Apple Computer	21,693	$12.17M	1.6%	$13.22	+23.8%	COM	037833100
SLB	Schlumberger Ltd.	125,704	$11.33M	1.5%	$52.90	+23.0%	COM	806857108
BBBY	Overstock	354,000	$10.9M	1.5%	$22.28	+20.9%	COM	690370101
JNJ	Johnson & Johnson	115,162	$10.55M	1.4%	$59.66	+10.2%	COM	478160104
—	Vodafone Group PLC ADS	263,163	$10.35M	1.4%	$28.74	—	COM	92857w209
IBM	International Business Machine	55,135	$10.34M	1.4%	$118.83	-10.5%	COM	459200101
MDLZ	Mondelez Int'l Inc	286,792	$10.12M	1.4%	$23.16	+10.2%	COM	609207105
—	United Technologies	83,938	$9.552M	1.3%	$93.66	—	COM	913017109
—	Apache Corp.	108,764	$9.347M	1.2%	$83.83	—	COM	037411105
DIS	Walt Disney Co.	117,697	$8.992M	1.2%	$56.11	+9.9%	COM	254687106
WMT	Wal-Mart Stores Inc.	113,277	$8.914M	1.2%	$19.98	+1.8%	COM	931142103
HAL	Halliburton Inc.	164,021	$8.324M	1.1%	$33.21	+24.3%	COM	406216101
—	Tidewater Inc.	138,600	$8.215M	1.1%	$56.97	—	COM	886423102
—	General Electric Co.	276,874	$7.761M	1.0%	$23.24	—	COM	369604103
INTC	Intel Corp.	293,974	$7.63M	1.0%	$17.18	+4.4%	COM	458140100
—	LinnCo, LLC	245,279	$7.557M	1.0%	$30.81	—	COM	535782106
CAT	Caterpillar Inc.	78,769	$7.153M	1.0%	$61.55	+1.8%	COM	149123101
SYY	Sysco Corp.	196,531	$7.095M	0.9%	$24.40	-0.1%	COM	871829107
PM	Philip Morris Intl	77,892	$6.787M	0.9%	$49.73	-3.8%	COM	718172109
—	HCC Ins Hldgs	146,787	$6.773M	0.9%	$43.11	—	COM	404132102
T	AT&T, Inc.	187,555	$6.594M	0.9%	$11.38	-1.8%	COM	00206R102
FDX	FedEx Corp.	44,500	$6.398M	0.9%	$81.95	+36.8%	COM	31428X106
UPS	United Parcel Svc. Inc. CL B	57,601	$6.053M	0.8%	$55.38	+16.4%	COM	911312106
HD	Home Depot Inc.	71,984	$5.927M	0.8%	$56.15	+4.6%	COM	437076102
—	Merck & Company Inc.	110,604	$5.536M	0.7%	$46.72	—	COM	58933y105
—	HCP Inc	149,637	$5.435M	0.7%	$45.24	—	COM	40414L109
BKD	Brookdale Sr Living Inc	196,324	$5.336M	0.7%	$27.55	+0.6%	COM	112463104
LOW	Lowes Companies	103,109	$5.109M	0.7%	$32.16	+21.7%	COM	548661107
CPB	Campbell Soup Co.	113,500	$4.912M	0.7%	$30.86	-7.6%	COM	134429109
RSG	Republic Services Inc.	146,282	$4.857M	0.6%	$26.37	+1.8%	COM	760759100
CSCO	Cisco Systems Inc.	198,738	$4.458M	0.6%	$15.24	-0.2%	COM	17275R102
—	Duke Energy Corp.	63,152	$4.358M	0.6%	$67.50	—	COM	26441c204
MSFT	Microsoft Corp.	98,472	$3.684M	0.5%	$26.70	+12.4%	COM	594918104
—	Medtronic Inc.	62,407	$3.582M	0.5%	$51.47	—	COM	585055106
KO	Coca Cola Co.	81,433	$3.364M	0.4%	$27.85	-3.3%	COM	191216100
IJR	iShares S&P SmallCap 600 Index	29,165	$3.183M	0.4%	$90.43	—	COM	464287804
MCD	McDonalds Corp.	32,474	$3.151M	0.4%	$71.63	-2.3%	COM	580135101
—	Twenty-First Cent Fox Inc. Cl	91,013	$3.149M	0.4%	$33.40	—	COM	90130a200
PFE	Pfizer Inc.	100,939	$3.092M	0.4%	$16.46	+7.1%	COM	717081103
WTM	White Mountain Ins	5,109	$3.081M	0.4%	$583.58	+1.0%	COM	G9618E107
—	Verizon Communications	62,217	$3.057M	0.4%	$50.17	—	COM	92343v104
WFC	Wells Fargo & Co.	64,610	$2.933M	0.4%	$28.50	+8.0%	COM	949746101
RHHBY	Roche Holdings	41,676	$2.919M	0.4%	$62.10	—	COM	771195104
—	Oracle	70,029	$2.679M	0.4%	$30.78	—	COM	68389x105
—	Scripps Networks Interactive,	30,700	$2.653M	0.4%	$66.78	—	COM	811065101
FXI	iShares FTSE China 25 Index Fu	64,525	$2.476M	0.3%	$33.43	—	COM	464287184
—	Royal Dutch Shell Class B	32,200	$2.419M	0.3%	$66.91	—	COM	780259107
—	Altria Group, Inc.	59,715	$2.292M	0.3%	$35.00	—	COM	02209s103
CVX	Chevron Corp.	17,013	$2.125M	0.3%	$71.30	+1.7%	COM	166764100
BMY	Bristol Myers Squibb	38,236	$2.032M	0.3%	$28.80	+18.6%	COM	110122108
PEP	PepsiCo Inc.	23,788	$1.973M	0.3%	$56.03	+3.1%	COM	713448108
VWO	Vanguard Emerging Markets ETF	45,916	$1.889M	0.3%	$39.08	—	COM	922042858
—	Dentsply Intl Inc	37,666	$1.826M	0.2%	$40.95	—	COM	249030107
—	Twenty-First Cent Fox Inc. Cl	51,195	$1.801M	0.2%	$33.50	—	COM	90130a101
GIS	General Mills Inc.	35,991	$1.796M	0.2%	$31.98	+2.8%	COM	370334104
—	Select Basic Materials Sector	38,841	$1.795M	0.2%	$38.35	—	COM	81369y100
—	3M Company	12,624	$1.771M	0.2%	$109.32	—	COM	88579y101
—	DIRECTV	24,967	$1.724M	0.2%	$61.59	—	COM	25490a309
FCX	Freeport McMoran Copper & Gold	45,320	$1.71M	0.2%	$24.79	+21.3%	COM	35671D857
EPP	iShares MSCI Pacific Rim	36,546	$1.708M	0.2%	$43.04	—	COM	464286665
AMGN	Amgen Inc.	14,219	$1.622M	0.2%	$73.34	+10.6%	COM	031162100
EEM	iShares MSCI Emerging Markets	38,796	$1.621M	0.2%	$38.68	—	COM	464287234
GHC	Graham Holdings Co	2,413	$1.601M	0.2%	$339.79	0.0%	COM	384637104
NEM	Newmont Mining Corp	66,949	$1.542M	0.2%	$22.31	-11.5%	COM	651639106
—	Express Scripts, Inc.	21,744	$1.527M	0.2%	$61.74	—	COM	30219g108
—	Leucadia Natl Corp	53,800	$1.525M	0.2%	$26.22	—	COM	527288104
—	Dominion Resources, Inc.	21,711	$1.404M	0.2%	$56.83	—	COM	25746u109
XLU	SPDR Utilities Select	35,854	$1.361M	0.2%	$37.78	—	COM	81369Y886
—	Target Corporation	21,387	$1.353M	0.2%	$68.87	—	COM	87612e106
PRA	Proassurance Corp	27,750	$1.345M	0.2%	$49.77	-6.3%	COM	74267C106
—	Kraft Foods Group, Inc.	24,564	$1.324M	0.2%	$55.87	—	COM	50076q106
BRK/A	Berkshire Hathaway 'A'	7	$1.245M	0.2%	$165023.42	+5.1%	COM	084670108
—	Computer Sciences Corp.	21,579	$1.206M	0.2%	$43.76	—	COM	205363104
MKC	McCormick	15,500	$1.068M	0.1%	$28.19	-4.2%	COM	579780206
—	Comcast Corp. Special Class A	21,355	$1.065M	0.1%	$39.67	—	COM	20030n200
—	Travelers Inc.	11,584	$1.049M	0.1%	$79.89	—	COM	89417e109
TJX	TJX Companies, Inc.	15,293	$975K	0.1%	$20.85	+23.3%	COM	872540109
—	SunTrust Banks Inc.	25,696	$946K	0.1%	$31.58	—	COM	867914103
—	Google Inc Class A	809	$907K	0.1%	$879.95	—	COM	38259P508
AXP	American Express Co.	9,901	$898K	0.1%	$60.98	+13.6%	COM	025816109
HON	Honeywell International Inc.	9,240	$844K	0.1%	$53.13	+14.5%	COM	438516106
VMC	Vulcan Materials	13,800	$820K	0.1%	$46.69	+7.6%	COM	929160109
WU	Western Union	45,437	$784K	0.1%	$17.11	—	COM	959802109
AIG	American Int'l Group	14,356	$733K	0.1%	$36.03	+5.1%	COM	026874784
—	Regions Financial Corp.	70,121	$693K	0.1%	$9.56	—	COM	7591ep100
—	J. P. Morgan Chase & Co. Inc.	11,747	$687K	0.1%	$52.80	—	COM	46625h100
AMZN	Amazon.Com	1,685	$672K	0.1%	$17.98	0.0%	COM	023135106
—	Yamana Gold	74,871	$645K	0.1%	$9.44	—	COM	98462Y100
—	Pico Holdings	26,000	$601K	0.1%	$21.12	—	COM	693366205
—	Horsehead Holding	37,000	$600K	0.1%	$12.81	—	COM	440694305
—	Novartis AG	7,390	$594K	0.1%	$70.77	—	COM	66987v109
—	Forestar Group	27,500	$585K	0.1%	$20.17	—	COM	346233109
USB	US Bancorp	14,250	$576K	0.1%	$22.41	+13.2%	COM	902973304
SBUX	Starbucks Corp.	6,435	$504K	0.1%	$24.37	+28.1%	COM	855244109
NHC	National Healthcare	8,915	$481K	0.1%	$46.69	+9.5%	COM	635906100
VV	Vanguard Large-Cap Exchanged T	5,445	$462K	0.1%	$73.46	—	COM	922908637
—	AbbVie, Inc.	8,573	$453K	0.1%	$42.49	—	COM	00287y109
—	Mead Johnson Nutrition	5,381	$451K	0.1%	$79.17	—	COM	582839106
IWB	iShares Russell 1000 Index ETF	4,335	$447K	0.1%	$89.97	—	COM	464287622
—	HealthStream Inc.	13,600	$444K	0.1%	$25.29	—	COM	42222n103
ADP	Automatic Data Processing	5,266	$425K	0.1%	$45.09	+14.1%	COM	053015103
—	Natl Healthcare Cv Prf	28,533	$414K	0.1%	$14.94	—	PFD CV	635906209
VB	Vanguard Small-Cap VIPERs	3,725	$410K	0.1%	$93.58	—	COM	922908751
TRC	Tejon Ranch Co.	11,000	$404K	0.1%	$27.47	+20.8%	COM	879080109
ALL	AllState Corp.	7,375	$402K	0.1%	$37.12	+10.7%	COM	020002101
—	ConocoPhillips	5,533	$391K	0.1%	$60.48	—	COM	20825c104
—	Hewlett Packard Co.	13,645	$382K	0.1%	$25.25	—	COM	428236103
—	Sigma Aldrich Corp.	4,000	$376K	0.1%	$80.50	—	COM	826552101
—	L-3 Communications	3,450	$369K	0.0%	$85.63	—	COM	502424104
IVV	iShares S&P 500 Core Index ETF	1,975	$367K	0.0%	$160.82	—	COM	464287200
NWS	News Corp. Ltd. Cl B	20,217	$360K	0.0%	$15.37	0.0%	COM	65249B208
—	Liberty Media Corp.	2,406	$352K	0.0%	$126.61	—	COM	530322106
ABT	Abbott Laboratories	8,908	$341K	0.0%	$28.87	+1.3%	COM	002824100
—	E. I. Dupont de Nemours & Co.	4,543	$295K	0.0%	$52.51	—	COM	263534109
—	Covidien Ltd	4,279	$291K	0.0%	$62.91	—	COM	g2554f113
MS	Morgan Stanley	9,000	$282K	0.0%	$17.33	+25.8%	COM	617446448
DRI	Darden Restaurants, Inc.	5,125	$279K	0.0%	$31.34	+2.4%	COM	237194105
—	Brookfield Pptys Part	13,724	$274K	0.0%	$20.33	—	COM	G16249107
BAC	BankAmerica Corp.	16,851	$262K	0.0%	$10.51	+11.1%	COM	060505104
VO	Vanguard Mid-Cap Exchange Trad	2,325	$256K	0.0%	$95.05	—	COM	922908629
SRCE	1st Source Corporation	8,000	$256K	0.0%	$23.78	—	COM	336901103
EFA	iShares MSCI EAFE Index Fund	3,696	$248K	0.0%	$63.85	—	COM	464287465
IWR	iShares Russell Mid-Cap Index	1,605	$241K	0.0%	$129.60	—	COM	464287499
IWM	Russell 2000 Index Fund	2,000	$231K	0.0%	$106.50	—	COM	464287655
—	Syntroleum	68,247	$231K	0.0%	$6.90	—	COM	871630208
DVY	iShares DJ Select Dividend Ind	3,115	$222K	0.0%	$71.27	—	COM	464287168
CL	Colgate Palmolive Co.	3,378	$220K	0.0%	$44.56	+8.6%	COM	194162103
BP	BP PLC	4,500	$219K	0.0%	$48.67	—	COM	055622104
—	Kinder Morgan Energy LP	2,690	$217K	0.0%	$85.21	—	COM	494550106
—	Zoetis, Inc.	6,379	$209K	0.0%	$32.76	—	COM	98978v103
—	Pinnacle Financial Partners	6,325	$206K	0.0%	$29.83	—	COM	72346q104
FHN	First Horizon Nat'l	13,673	$159K	0.0%	$7.73	0.0%	COM	320517105
AERN	AER Energy Resources Inc	5,000,000	$0	0.0%	$0.00	-11.4%	COM	000944207