Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BRK/B	Berkshire Hathaway 'B'	607,604	$75.93M	9.9%	$110.02	+6.2%	COM	084670702
FRFHF	Fairfax Financial Hld	166,233	$72M	9.3%	$316.93	+2.6%	COM	303901102
HCA	HCA Holdings, Inc.	703,091	$36.91M	4.8%	$35.96	+28.6%	COM	40412C101
—	Corrections Corp Amer	897,884	$28.12M	3.7%	$33.77	—	COM	22025y407
—	Level 3 Commun	571,333	$22.36M	2.9%	$21.08	—	COM	52729N308
BLX	Banco LatinoAmericano	746,682	$19.72M	2.6%	$11.35	+16.9%	COM	P16994132
L	Loews Corp.	427,702	$18.84M	2.4%	$42.08	+0.3%	COM	540424108
—	Gannett Co. Inc.	625,430	$17.26M	2.2%	$24.46	—	COM	364730101
—	People's United Financial	1,127,769	$16.77M	2.2%	$14.90	—	COM	712704105
XOM	Exxon Mobil Corp.	170,246	$16.63M	2.2%	$53.69	+8.2%	COM	30231G102
—	Accenture Ltd	206,157	$16.43M	2.1%	$72.13	—	COM	g1151c101
—	Chesapeake Energy	598,406	$15.33M	2.0%	$20.80	—	COM	165167107
—	National Health Invstrs	237,497	$14.36M	1.9%	$59.86	—	COM	63633d104
—	Pall Corp.	160,000	$14.31M	1.9%	$66.43	—	COM	696429307
SLB	Schlumberger Ltd.	127,495	$12.43M	1.6%	$53.08	+23.4%	COM	806857108
AAPL	Apple Computer	22,785	$12.23M	1.6%	$13.38	+23.9%	COM	037833100
PG	Procter & Gamble Co.	147,463	$11.89M	1.5%	$55.00	+2.7%	COM	742718109
JNJ	Johnson & Johnson	116,148	$11.41M	1.5%	$59.66	+11.7%	COM	478160104
IBM	International Business Machine	55,153	$10.62M	1.4%	$118.83	-8.1%	COM	459200101
—	Apache Corp.	123,526	$10.25M	1.3%	$83.73	—	COM	037411105
MDLZ	Mondelez Int'l Inc	286,705	$9.906M	1.3%	$23.16	+13.8%	COM	609207105
HAL	Halliburton Inc.	166,419	$9.8M	1.3%	$33.35	+28.3%	COM	406216101
—	United Technologies	82,911	$9.687M	1.3%	$93.66	—	COM	913017109
DIS	Walt Disney Co.	111,250	$8.908M	1.2%	$56.11	+24.2%	COM	254687106
—	General Electric Co.	337,731	$8.744M	1.1%	$23.71	—	COM	369604103
WMT	Wal-Mart Stores Inc.	110,811	$8.469M	1.1%	$19.98	-0.4%	COM	931142103
INTC	Intel Corp.	299,849	$7.74M	1.0%	$17.21	+8.5%	COM	458140100
CAT	Caterpillar Inc.	77,594	$7.711M	1.0%	$61.55	+13.2%	COM	149123101
—	Tidewater Inc.	143,609	$6.982M	0.9%	$56.68	—	COM	886423102
BBBY	Overstock	351,500	$6.925M	0.9%	$22.28	+2.4%	COM	690370101
SYY	Sysco Corp.	190,420	$6.88M	0.9%	$24.40	+7.0%	COM	871829107
—	Verizon Comm.	143,417	$6.822M	0.9%	$48.70	—	COM	92343v104
—	LinnCo, LLC	245,279	$6.635M	0.9%	$30.81	—	COM	535782106
—	HCC Ins Hldgs	145,787	$6.632M	0.9%	$43.11	—	COM	404132102
PM	Philip Morris Intl	80,990	$6.631M	0.9%	$49.54	-9.7%	COM	718172109
BKD	Brookdale Sr Living Inc	195,824	$6.562M	0.9%	$27.55	+9.9%	COM	112463104
T	AT&T, Inc.	186,256	$6.532M	0.8%	$11.38	-4.6%	COM	00206R102
—	Merck & Company Inc.	110,414	$6.268M	0.8%	$46.72	—	COM	58933y105
—	HCP Inc	159,160	$6.174M	0.8%	$44.86	—	COM	40414L109
—	Boardwalk Pipeline Prtnrs LP	442,500	$5.934M	0.8%	$13.41	—	COM	096627104
FDX	FedEx Corp.	44,530	$5.903M	0.8%	$81.95	+40.5%	COM	31428X106
HD	Home Depot Inc.	72,738	$5.756M	0.7%	$56.20	+7.2%	COM	437076102
UPS	United Parcel Svc. Cl B	57,556	$5.605M	0.7%	$55.38	+15.9%	COM	911312106
—	Vodafone Group PLC ADS	147,383	$5.425M	0.7%	$36.81	—	COM	92857w308
LOW	Lowes Companies	104,884	$5.129M	0.7%	$32.27	+20.9%	COM	548661107
CPB	Campbell Soup Co.	113,500	$5.094M	0.7%	$30.86	-3.7%	COM	134429109
RSG	Republic Services Inc.	148,983	$5.089M	0.7%	$26.38	+0.5%	COM	760759100
—	Duke Energy Corp.	63,492	$4.522M	0.6%	$67.50	—	COM	26441c204
CSCO	Cisco Systems Inc.	193,210	$4.331M	0.6%	$15.24	+0.4%	COM	17275R102
MSFT	Microsoft Corp.	103,573	$4.245M	0.6%	$26.93	+16.1%	COM	594918104
—	Medtronic Inc.	62,084	$3.821M	0.5%	$51.47	—	COM	585055106
PFE	Pfizer Inc.	104,421	$3.354M	0.4%	$16.52	+10.2%	COM	717081103
IJR	iShares S&P SmallCap 600 Index	29,540	$3.254M	0.4%	$90.68	—	COM	464287804
MCD	McDonalds Corp.	32,874	$3.223M	0.4%	$71.61	-1.9%	COM	580135101
—	Twenty-First Cent Fox Inc. Cl	100,563	$3.13M	0.4%	$33.19	—	COM	90130a200
AMZN	Amazon.Com	9,284	$3.123M	0.4%	$18.45	+0.6%	COM	023135106
KO	Coca Cola Co.	80,737	$3.121M	0.4%	$27.85	-4.7%	COM	191216100
RHHBY	Roche Holdings	82,102	$3.079M	0.4%	$49.99	—	COM	771195104
WFC	Wells Fargo & Co.	61,798	$3.074M	0.4%	$28.50	+17.3%	COM	949746101
WTM	White Mountain Ins	4,909	$2.945M	0.4%	$583.58	-0.0%	COM	G9618E107
—	Oracle	71,429	$2.922M	0.4%	$30.98	—	COM	68389x105
—	Royal Dutch Shell Class B	32,210	$2.516M	0.3%	$66.91	—	COM	780259107
AMGN	Amgen Inc.	20,282	$2.502M	0.3%	$77.39	+12.3%	COM	031162100
CVX	Chevron Corp.	19,693	$2.342M	0.3%	$71.17	-1.1%	COM	166764100
—	Scripps Networks Interactive,	30,700	$2.33M	0.3%	$66.78	—	COM	811065101
FXI	iShares FTSE China 25 Index Fu	64,525	$2.309M	0.3%	$33.43	—	COM	464287184
PEP	PepsiCo Inc.	27,377	$2.286M	0.3%	$56.14	+1.3%	COM	713448108
—	Altria Group, Inc.	59,715	$2.235M	0.3%	$35.00	—	COM	02209s103
BMY	Bristol Myers Squibb	38,236	$1.986M	0.3%	$28.80	+24.7%	COM	110122108
—	Twenty-First Cent Fox Inc. Cl	61,420	$1.964M	0.3%	$33.25	—	COM	90130a101
—	DIRECTV	24,967	$1.908M	0.2%	$61.59	—	COM	25490a309
VWO	Vanguard Emerging Markets ETF	46,366	$1.882M	0.2%	$39.08	—	COM	922042858
—	Select Basic Materials Sector	37,591	$1.777M	0.2%	$38.35	—	COM	81369y100
EPP	iShares MSCI Pacific Rim	36,546	$1.757M	0.2%	$43.04	—	COM	464286665
—	3M Company	12,809	$1.738M	0.2%	$109.70	—	COM	88579y101
—	Dentsply Intl Inc	37,669	$1.734M	0.2%	$40.95	—	COM	249030107
GHC	Graham Holdings Co	2,333	$1.642M	0.2%	$339.79	+5.7%	COM	384637104
GIS	General Mills Inc.	31,507	$1.633M	0.2%	$31.98	+3.1%	COM	370334104
—	Express Scripts, Inc.	21,744	$1.633M	0.2%	$61.74	—	COM	30219g108
EEM	iShares MSCI Emerging Markets	38,496	$1.579M	0.2%	$38.68	—	COM	464287234
NEM	Newmont Mining Corp	66,538	$1.56M	0.2%	$22.31	-17.4%	COM	651639106
—	Dominion Resources, Inc.	21,811	$1.548M	0.2%	$56.83	—	COM	25746u109
—	Leucadia Natl Corp	53,800	$1.506M	0.2%	$26.22	—	COM	527288104
XLU	SPDR Utilities Select	35,698	$1.48M	0.2%	$37.78	—	COM	81369Y886
—	Kraft Foods Group, Inc.	24,356	$1.366M	0.2%	$55.87	—	COM	50076q106
—	Computer Sciences Corp.	21,580	$1.313M	0.2%	$43.76	—	COM	205363104
—	Target Corporation	21,396	$1.295M	0.2%	$68.87	—	COM	87612e106
PRA	Proassurance Corp	27,750	$1.236M	0.2%	$49.77	-8.2%	COM	74267C106
FCX	Freeport McMoran Copper & Gold	35,870	$1.186M	0.2%	$24.79	+14.8%	COM	35671D857
—	Comcast Corp. Special Class A	23,730	$1.157M	0.2%	$40.58	—	COM	20030n200
MKC	McCormick	15,500	$1.112M	0.1%	$28.19	-5.0%	COM	579780206
—	SunTrust Banks Inc.	25,696	$1.022M	0.1%	$31.58	—	COM	867914103
—	Travelers Inc.	11,269	$959K	0.1%	$79.89	—	COM	89417e109
BRK/A	Berkshire Hathaway 'A'	5	$937K	0.1%	$165023.42	+6.4%	COM	084670108
—	Google Inc. Class C	809	$902K	0.1%	$1114.96	—	COM	38259P706
—	Zoetis, Inc.	31,057	$899K	0.1%	$29.73	—	COM	98978v103
HON	Honeywell Intl.	9,511	$882K	0.1%	$53.46	+21.0%	COM	438516106
TJX	TJX Companies, Inc.	14,293	$867K	0.1%	$20.85	+23.5%	COM	872540109
AXP	American Express Co.	9,601	$864K	0.1%	$60.98	+23.8%	COM	025816109
VMC	Vulcan Materials	12,900	$857K	0.1%	$46.69	+24.5%	COM	929160109
—	Regions Financial Corp.	71,631	$796K	0.1%	$9.59	—	COM	7591ep100
WU	Western Union	44,837	$734K	0.1%	$17.11	—	COM	959802109
AIG	American Int'l Group	14,356	$718K	0.1%	$36.03	+5.1%	COM	026874784
—	J. P. Morgan Chase & Co. Inc.	11,352	$689K	0.1%	$52.80	—	COM	46625h100
—	Pico Holdings	26,000	$676K	0.1%	$21.12	—	COM	693366205
—	Yamana Gold	75,143	$660K	0.1%	$9.44	—	COM	98462Y100
—	Novartis AG	7,750	$659K	0.1%	$71.43	—	COM	66987v109
—	Horsehead Holding	37,000	$622K	0.1%	$12.81	—	COM	440694305
USB	US Bancorp	14,025	$601K	0.1%	$22.41	+22.0%	COM	902973304
SBUX	Starbucks Corp.	6,835	$502K	0.1%	$24.66	+18.8%	COM	855244109
NHC	National Healthcare	8,915	$497K	0.1%	$46.69	+12.2%	COM	635906100
—	Forestar Group	27,500	$489K	0.1%	$20.17	—	COM	346233109
—	AbbVie, Inc.	9,418	$484K	0.1%	$43.28	—	COM	00287y109
VV	Vanguard Large-Cap Exchanged T	5,565	$479K	0.1%	$73.73	—	COM	922908637
IWB	iShares Russell 1000 Index ETF	4,540	$476K	0.1%	$90.64	—	COM	464287622
—	Mead Johnson Nutrition	5,381	$447K	0.1%	$79.17	—	COM	582839106
—	Hewlett Packard Co.	13,645	$442K	0.1%	$25.25	—	COM	428236103
VB	Vanguard Small-Cap VIPERs	3,725	$421K	0.1%	$93.58	—	COM	922908751
—	Natl Healthcare Cv Prf	28,533	$420K	0.1%	$14.94	—	PFD CV	635906209
ALL	AllState Corp.	7,375	$417K	0.1%	$37.12	+11.9%	COM	020002101
—	L-3 Communications	3,450	$408K	0.1%	$85.63	—	COM	502424104
ADP	Automatic Data Processing	5,266	$407K	0.1%	$45.09	+16.3%	COM	053015103
—	ConocoPhillips	5,548	$390K	0.1%	$60.48	—	COM	20825c104
—	Sigma Aldrich Corp.	4,000	$374K	0.0%	$80.50	—	COM	826552101
IVV	iShares S&P 500 Core Index ETF	1,975	$372K	0.0%	$160.82	—	COM	464287200
TRC	Tejon Ranch Co.	11,000	$372K	0.0%	$27.47	+23.5%	COM	879080109
—	HealthStream Inc.	13,600	$363K	0.0%	$25.29	—	COM	42222n103
ABT	Abbott Laboratories	9,298	$358K	0.0%	$28.95	+6.2%	COM	002824100
—	Brookfield Pptys Part	17,000	$318K	0.0%	$20.02	—	COM	G16249107
—	Covidien Ltd	4,279	$315K	0.0%	$62.91	—	COM	g2554f113
—	Liberty Media Corp.	2,406	$315K	0.0%	$130.92	—	COM	531229102
—	E. I. Dupont de Nemours & Co.	4,543	$305K	0.0%	$52.51	—	COM	263534109
NWS	News Corp. Ltd. Cl B	17,395	$290K	0.0%	$15.37	-2.6%	COM	65249B208
MS	Morgan Stanley	9,000	$281K	0.0%	$17.33	+31.0%	COM	617446448
—	Syntroleum	68,247	$268K	0.0%	$6.90	—	COM	871630208
VO	Vanguard Mid-Cap Exchange Trad	2,325	$264K	0.0%	$95.05	—	COM	922908629
DEO	Diageo PLC	2,075	$259K	0.0%	$124.82	—	COM	25243Q205
BAC	BankAmerica Corp.	14,851	$255K	0.0%	$10.51	+26.1%	COM	060505104
EFA	iShares MSCI EAFE Index Fund	3,796	$255K	0.0%	$63.94	—	COM	464287465
DRI	Darden Restaurants, Inc.	5,000	$254K	0.0%	$31.34	-0.0%	COM	237194105
IWR	iShares Russell Mid-Cap Index	1,605	$248K	0.0%	$129.60	—	COM	464287499
IWM	Russell 2000 Index Fund	2,053	$239K	0.0%	$106.76	—	COM	464287655
DVY	iShares DJ Select Dividend Ind	3,230	$237K	0.0%	$71.34	—	COM	464287168
—	Pinnacle Financial Partners	6,325	$237K	0.0%	$29.83	—	COM	72346q104
SRCE	1st Source Corporation	7,000	$225K	0.0%	$23.78	—	COM	336901103
AAL	American Airlines Grp	6,000	$220K	0.0%	$32.09	0.0%	COM	02376R102
CL	Colgate Palmolive Co.	3,378	$219K	0.0%	$44.56	+7.5%	COM	194162103
—	Celgene Corp.	1,565	$218K	0.0%	$139.30	—	COM	151020104
FHN	First Horizon Nat'l	10,474	$129K	0.0%	$7.73	+7.0%	COM	320517105
AERN	AER Energy Resources Inc	5,000,000	$0	0.0%	$0.00	-31.0%	COM	000944207