Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
BRK/B	Berkshire Hathaway 'B'	607,604	$75.93M	9.9%	$124.97	$110.02	+13.6%	COM	084670702
FRFHF	Fairfax Financial Hld	166,233	$72M	9.3%	$433.10 *	$316.93	+10.4%	COM	303901102
HCA	HCA Holdings, Inc.	703,091	$36.91M	4.8%	$52.50 *	$35.96	+35.7%	COM	40412C101
—	Corrections Corp Amer	897,884	$28.12M	3.7%	$31.32	$33.77	—	COM	22025y407
—	Level 3 Commun	571,333	$22.36M	2.9%	$39.14	$21.08	—	COM	52729N308
BLX	Banco LatinoAmericano	746,682	$19.72M	2.6%	$26.41 *	$11.35	+18.5%	COM	P16994132
L	Loews Corp.	427,702	$18.84M	2.4%	$44.05 *	$42.08	-1.2%	COM	540424108
—	Gannett Co. Inc.	625,430	$17.26M	2.2%	$27.60	$24.46	—	COM	364730101
—	People's United Financial	1,127,769	$16.77M	2.2%	$14.87	$14.90	—	COM	712704105
XOM	Exxon Mobil Corp.	170,246	$16.63M	2.2%	$97.68 *	$53.69	+11.2%	COM	30231G102
—	Accenture Ltd	206,157	$16.43M	2.1%	$79.72	$72.13	—	COM	g1151c101
—	Chesapeake Energy	598,406	$15.33M	2.0%	$25.62	$20.80	—	COM	165167107
—	National Health Invstrs	237,497	$14.36M	1.9%	$60.46	$59.86	—	COM	63633d104
—	Pall Corp.	160,000	$14.31M	1.9%	$89.47	$66.43	—	COM	696429307
SLB	Schlumberger Ltd.	127,495	$12.43M	1.6%	$97.50 *	$53.08	+33.2%	COM	806857108
AAPL	Apple Computer	22,785	$12.23M	1.6%	$536.71 *	$13.38	+25.2%	COM	037833100
PG	Procter & Gamble Co.	147,463	$11.89M	1.5%	$80.60 *	$55.00	+5.3%	COM	742718109
JNJ	Johnson & Johnson	116,148	$11.41M	1.5%	$98.23 *	$59.66	+18.8%	COM	478160104
IBM	International Business Machine	55,153	$10.62M	1.4%	$192.48 *	$118.83	-3.7%	COM	459200101
—	Apache Corp.	123,526	$10.25M	1.3%	$82.95	$83.73	—	COM	037411105
MDLZ	Mondelez Int'l Inc	286,705	$9.906M	1.3%	$34.55 *	$23.16	+15.5%	COM	609207105
HAL	Halliburton Inc.	166,419	$9.8M	1.3%	$58.89 *	$33.35	+41.7%	COM	406216101
—	United Technologies	82,911	$9.687M	1.3%	$116.84	$93.66	—	COM	913017109
DIS	Walt Disney Co.	111,250	$8.908M	1.2%	$80.07 *	$56.11	+28.3%	COM	254687106
—	General Electric Co.	337,731	$8.744M	1.1%	$25.89	$23.71	—	COM	369604103
WMT	Wal-Mart Stores Inc.	110,811	$8.469M	1.1%	$76.43 *	$19.98	+1.5%	COM	931142103
INTC	Intel Corp.	299,849	$7.74M	1.0%	$25.81 *	$17.21	+12.6%	COM	458140100
CAT	Caterpillar Inc.	77,594	$7.711M	1.0%	$99.38 *	$61.55	+19.4%	COM	149123101
—	Tidewater Inc.	143,609	$6.982M	0.9%	$48.62	$56.68	—	COM	886423102
BBBY	Overstock	351,500	$6.925M	0.9%	$19.70	$22.28	-11.6%	COM	690370101
SYY	Sysco Corp.	190,420	$6.88M	0.9%	$36.13 *	$24.40	+7.6%	COM	871829107
—	Verizon Comm.	143,417	$6.822M	0.9%	$47.57	$48.70	—	COM	92343v104
—	LinnCo, LLC	245,279	$6.635M	0.9%	$27.05	$30.81	—	COM	535782106
—	HCC Ins Hldgs	145,787	$6.632M	0.9%	$45.49	$43.11	—	COM	404132102
PM	Philip Morris Intl	80,990	$6.631M	0.9%	$81.87 *	$49.54	-7.5%	COM	718172109
BKD	Brookdale Sr Living Inc	195,824	$6.562M	0.9%	$33.51	$27.55	+21.6%	COM	112463104
T	AT&T, Inc.	186,256	$6.532M	0.8%	$35.07 *	$11.38	+0.8%	COM	00206R102
—	Merck & Company Inc.	110,414	$6.268M	0.8%	$56.77	$46.72	—	COM	58933y105
—	HCP Inc	159,160	$6.174M	0.8%	$38.79	$44.86	—	COM	40414L109
—	Boardwalk Pipeline Prtnrs LP	442,500	$5.934M	0.8%	$13.41	$13.41	—	COM	096627104
FDX	FedEx Corp.	44,530	$5.903M	0.8%	$132.56 *	$81.95	+37.2%	COM	31428X106
HD	Home Depot Inc.	72,738	$5.756M	0.7%	$79.13 *	$56.20	+7.1%	COM	437076102
UPS	United Parcel Svc. Cl B	57,556	$5.605M	0.7%	$97.38 *	$55.38	+16.2%	COM	911312106
—	Vodafone Group PLC ADS	147,383	$5.425M	0.7%	$36.81	$36.81	—	COM	92857w308
LOW	Lowes Companies	104,884	$5.129M	0.7%	$48.90 *	$32.27	+22.6%	COM	548661107
CPB	Campbell Soup Co.	113,500	$5.094M	0.7%	$44.88 *	$30.86	+1.0%	COM	134429109
RSG	Republic Services Inc.	148,983	$5.089M	0.7%	$34.16 *	$26.38	+4.2%	COM	760759100
—	Duke Energy Corp.	63,492	$4.522M	0.6%	$71.22	$67.50	—	COM	26441c204
CSCO	Cisco Systems Inc.	193,210	$4.331M	0.6%	$22.42 *	$15.24	+1.9%	COM	17275R102
MSFT	Microsoft Corp.	103,573	$4.245M	0.6%	$40.99 *	$26.93	+27.2%	COM	594918104
—	Medtronic Inc.	62,084	$3.821M	0.5%	$61.55	$51.47	—	COM	585055106
PFE	Pfizer Inc.	104,421	$3.354M	0.4%	$32.12 *	$16.52	+13.0%	COM	717081103
IJR	iShares S&P SmallCap 600 Index	29,540	$3.254M	0.4%	$110.16 *	$44.45	+23.9%	COM	464287804
MCD	McDonalds Corp.	32,874	$3.223M	0.4%	$98.04 *	$71.61	+1.1%	COM	580135101
—	Twenty-First Cent Fox Inc. Cl	100,563	$3.13M	0.4%	$31.12	$33.19	—	COM	90130a200
AMZN	Amazon.Com	9,284	$3.123M	0.4%	$336.39 *	$18.45	-8.9%	COM	023135106
KO	Coca Cola Co.	80,737	$3.121M	0.4%	$38.66 *	$27.85	-4.0%	COM	191216100
RHHBY	Roche Holdings	82,102	$3.079M	0.4%	$37.50	$30.91	+22.0%	COM	771195104
WFC	Wells Fargo & Co.	61,798	$3.074M	0.4%	$49.74 *	$28.50	+25.5%	COM	949746101
WTM	White Mountain Ins	4,909	$2.945M	0.4%	$599.92	$583.58	+2.8%	COM	G9618E107
—	Oracle	71,429	$2.922M	0.4%	$40.91	$30.98	—	COM	68389x105
—	Royal Dutch Shell Class B	32,210	$2.516M	0.3%	$78.11	$66.91	—	COM	780259107
AMGN	Amgen Inc.	20,282	$2.502M	0.3%	$123.36 *	$77.39	+14.4%	COM	031162100
CVX	Chevron Corp.	19,693	$2.342M	0.3%	$118.93 *	$71.17	+1.5%	COM	166764100
—	Scripps Networks Interactive,	30,700	$2.33M	0.3%	$75.90	$66.78	—	COM	811065101
FXI	iShares FTSE China 25 Index Fu	64,525	$2.309M	0.3%	$35.78	$35.90	-0.3%	COM	464287184
PEP	PepsiCo Inc.	27,377	$2.286M	0.3%	$83.50 *	$56.14	+4.7%	COM	713448108
—	Altria Group, Inc.	59,715	$2.235M	0.3%	$37.43	$35.00	—	COM	02209s103
BMY	Bristol Myers Squibb	38,236	$1.986M	0.3%	$51.94 *	$28.80	+21.8%	COM	110122108
—	Twenty-First Cent Fox Inc. Cl	61,420	$1.964M	0.3%	$31.98	$33.25	—	COM	90130a101
—	DIRECTV	24,967	$1.908M	0.2%	$76.42	$61.59	—	COM	25490a309
VWO	Vanguard Emerging Markets ETF	46,366	$1.882M	0.2%	$40.59	$41.70	-2.7%	COM	922042858
—	Select Basic Materials Sector	37,591	$1.777M	0.2%	$47.27	$38.35	—	COM	81369y100
EPP	iShares MSCI Pacific Rim	36,546	$1.757M	0.2%	$48.08	$48.18	-0.2%	COM	464286665
—	3M Company	12,809	$1.738M	0.2%	$135.69	$109.70	—	COM	88579y101
—	Dentsply Intl Inc	37,669	$1.734M	0.2%	$46.03	$40.95	—	COM	249030107
GHC	Graham Holdings Co	2,333	$1.642M	0.2%	$703.81 *	$339.79	+10.3%	COM	384637104
—	Express Scripts, Inc.	21,744	$1.633M	0.2%	$75.10	$61.74	—	COM	30219g108
GIS	General Mills Inc.	31,507	$1.633M	0.2%	$51.83 *	$31.98	+7.9%	COM	370334104
EEM	iShares MSCI Emerging Markets	38,496	$1.579M	0.2%	$41.02	$41.52	-1.2%	COM	464287234
NEM	Newmont Mining Corp	66,538	$1.56M	0.2%	$23.45 *	$22.31	-18.2%	COM	651639106
—	Dominion Resources, Inc.	21,811	$1.548M	0.2%	$70.97	$56.83	—	COM	25746u109
—	Leucadia Natl Corp	53,800	$1.506M	0.2%	$27.99	$26.22	—	COM	527288104
XLU	SPDR Utilities Select	35,698	$1.48M	0.2%	$41.46 *	$19.40	+6.9%	COM	81369Y886
—	Kraft Foods Group, Inc.	24,356	$1.366M	0.2%	$56.08	$55.87	—	COM	50076q106
—	Computer Sciences Corp.	21,580	$1.313M	0.2%	$60.84	$43.76	—	COM	205363104
—	Target Corporation	21,396	$1.295M	0.2%	$60.53	$68.87	—	COM	87612e106
PRA	Proassurance Corp	27,750	$1.236M	0.2%	$44.54	$49.77	-10.5%	COM	74267C106
FCX	Freeport McMoran Copper & Gold	35,870	$1.186M	0.2%	$33.06 *	$24.79	+14.2%	COM	35671D857
—	Comcast Corp. Special Class A	23,730	$1.157M	0.2%	$48.76	$40.58	—	COM	20030n200
MKC	McCormick	15,500	$1.112M	0.1%	$71.74 *	$28.19	+1.3%	COM	579780206
—	SunTrust Banks Inc.	25,696	$1.022M	0.1%	$39.77	$31.58	—	COM	867914103
—	Travelers Inc.	11,269	$959K	0.1%	$85.10	$79.89	—	COM	89417e109
BRK/A	Berkshire Hathaway 'A'	5	$937K	0.1%	$187400.00	$165023.42	+13.5%	COM	084670108
—	Google Inc. Class C	809	$902K	0.1%	$1114.96	$1114.96	—	COM	38259P706
—	Zoetis, Inc.	31,057	$899K	0.1%	$28.95	$29.73	—	COM	98978v103
HON	Honeywell Intl.	9,511	$882K	0.1%	$92.73 *	$53.46	+22.2%	COM	438516106
TJX	TJX Companies, Inc.	14,293	$867K	0.1%	$60.66 *	$20.85	+23.8%	COM	872540109
AXP	American Express Co.	9,601	$864K	0.1%	$89.99 *	$60.98	+24.8%	COM	025816109
VMC	Vulcan Materials	12,900	$857K	0.1%	$66.43 *	$46.69	+29.7%	COM	929160109
—	Regions Financial Corp.	71,631	$796K	0.1%	$11.11	$9.59	—	COM	7591ep100
WU	Western Union	44,837	$734K	0.1%	$16.37	$17.11	—	COM	959802109
AIG	American Int'l Group	14,356	$718K	0.1%	$50.01 *	$36.03	+5.9%	COM	026874784
—	J. P. Morgan Chase & Co. Inc.	11,352	$689K	0.1%	$60.69	$52.80	—	COM	46625h100
—	Pico Holdings	26,000	$676K	0.1%	$26.00	$21.12	—	COM	693366205
—	Yamana Gold	75,143	$660K	0.1%	$8.78	$9.44	—	COM	98462Y100
—	Novartis AG	7,750	$659K	0.1%	$85.03	$71.43	—	COM	66987v109
—	Horsehead Holding	37,000	$622K	0.1%	$16.81	$12.81	—	COM	440694305
USB	US Bancorp	14,025	$601K	0.1%	$42.85 *	$22.41	+27.9%	COM	902973304
SBUX	Starbucks Corp.	6,835	$502K	0.1%	$73.45 *	$24.66	+18.0%	COM	855244109
NHC	National Healthcare	8,915	$497K	0.1%	$55.75	$46.69	+19.4%	COM	635906100
—	Forestar Group	27,500	$489K	0.1%	$17.78	$20.17	—	COM	346233109
—	AbbVie, Inc.	9,418	$484K	0.1%	$51.39	$43.28	—	COM	00287y109
VV	Vanguard Large-Cap Exchanged T	5,565	$479K	0.1%	$86.07	$73.97	+16.3%	COM	922908637
IWB	iShares Russell 1000 Index ETF	4,540	$476K	0.1%	$104.85	$90.16	+16.2%	COM	464287622
—	Mead Johnson Nutrition	5,381	$447K	0.1%	$83.07	$79.17	—	COM	582839106
—	Hewlett Packard Co.	13,645	$442K	0.1%	$32.39	$25.25	—	COM	428236103
VB	Vanguard Small-Cap VIPERs	3,725	$421K	0.1%	$113.02	$92.50	+22.1%	COM	922908751
—	Natl Healthcare Cv Prf	28,533	$420K	0.1%	$14.72	$14.94	—	PFD CV	635906209
ALL	AllState Corp.	7,375	$417K	0.1%	$56.54 *	$37.12	+18.4%	COM	020002101
—	L-3 Communications	3,450	$408K	0.1%	$118.26	$85.63	—	COM	502424104
ADP	Automatic Data Processing	5,266	$407K	0.1%	$77.29 *	$45.09	+16.4%	COM	053015103
—	ConocoPhillips	5,548	$390K	0.1%	$70.30	$60.48	—	COM	20825c104
—	Sigma Aldrich Corp.	4,000	$374K	0.0%	$93.50	$80.50	—	COM	826552101
TRC	Tejon Ranch Co.	11,000	$372K	0.0%	$33.82 *	$27.47	+19.6%	COM	879080109
IVV	iShares S&P 500 Core Index ETF	1,975	$372K	0.0%	$188.35	$161.92	+16.2%	COM	464287200
—	HealthStream Inc.	13,600	$363K	0.0%	$26.69	$25.29	—	COM	42222n103
ABT	Abbott Laboratories	9,298	$358K	0.0%	$38.50 *	$28.95	+6.1%	COM	002824100
—	Brookfield Pptys Part	17,000	$318K	0.0%	$18.71	$20.02	—	COM	G16249107
—	Covidien Ltd	4,279	$315K	0.0%	$73.62	$62.91	—	COM	g2554f113
—	Liberty Media Corp.	2,406	$315K	0.0%	$130.92	$130.92	—	COM	531229102
—	E. I. Dupont de Nemours & Co.	4,543	$305K	0.0%	$67.14	$52.51	—	COM	263534109
NWS	News Corp. Ltd. Cl B	17,395	$290K	0.0%	$16.67 *	$15.37	-4.3%	COM	65249B208
MS	Morgan Stanley	9,000	$281K	0.0%	$31.22 *	$17.33	+32.2%	COM	617446448
—	Syntroleum	68,247	$268K	0.0%	$3.93	$6.90	—	COM	871630208
VO	Vanguard Mid-Cap Exchange Trad	2,325	$264K	0.0%	$113.55 *	$23.72	+19.7%	COM	922908629
DEO	Diageo PLC	2,075	$259K	0.0%	$124.82	$124.65	-0.0%	COM	25243Q205
BAC	BankAmerica Corp.	14,851	$255K	0.0%	$17.17 *	$10.51	+29.0%	COM	060505104
EFA	iShares MSCI EAFE Index Fund	3,796	$255K	0.0%	$67.18	$61.40	+9.4%	COM	464287465
DRI	Darden Restaurants, Inc.	5,000	$254K	0.0%	$50.80 *	$31.34	+1.5%	COM	237194105
IWR	iShares Russell Mid-Cap Index	1,605	$248K	0.0%	$154.52 *	$32.42	+19.4%	COM	464287499
IWM	Russell 2000 Index Fund	2,053	$239K	0.0%	$116.42	$103.76	+12.1%	COM	464287655
DVY	iShares DJ Select Dividend Ind	3,230	$237K	0.0%	$73.37	$69.60	+5.4%	COM	464287168
—	Pinnacle Financial Partners	6,325	$237K	0.0%	$37.47	$29.83	—	COM	72346q104
SRCE	1st Source Corporation	7,000	$225K	0.0%	$32.14	$23.78	—	COM	336901103
AAL	American Airlines Grp	6,000	$220K	0.0%	$36.67 *	$32.09	+7.5%	COM	02376R102
CL	Colgate Palmolive Co.	3,378	$219K	0.0%	$64.83 *	$44.56	+10.8%	COM	194162103
—	Celgene Corp.	1,565	$218K	0.0%	$139.30	$139.30	—	COM	151020104
FHN	First Horizon Nat'l	10,474	$129K	0.0%	$12.32 *	$7.73	+11.2%	COM	320517105
AERN	AER Energy Resources Inc	5,000,000	$0	0.0%	$0.00	$0.00	-31.0%	COM	000944207