Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
FRFHF	Fairfax Financial Hld	166,029	$78.45M	9.6%	$472.50 *	$316.93	+20.4%	COM	303901102
BRK/B	Berkshire Hathaway 'B'	605,697	$76.66M	9.3%	$126.56	$110.02	+15.0%	COM	084670702
HCA	HCA Holdings, Inc.	688,657	$38.83M	4.7%	$56.38 *	$35.96	+45.8%	COM	40412C101
—	Corrections Corp Amer	898,246	$29.51M	3.6%	$32.85	$33.77	—	COM	22025y407
—	Level 3 Commun	565,013	$24.81M	3.0%	$43.91	$21.08	—	COM	52729N308
BLX	Banco LatinoAmericano	744,691	$22.09M	2.7%	$29.67 *	$11.35	+34.9%	COM	P16994132
L	Loews Corp.	444,897	$19.58M	2.4%	$44.01 *	$42.04	-1.0%	COM	540424108
—	Gannett Co. Inc.	624,709	$19.56M	2.4%	$31.31	$24.46	—	COM	364730101
—	Chesapeake Energy	594,011	$18.46M	2.3%	$31.08	$20.80	—	COM	165167107
XOM	Exxon Mobil Corp.	170,735	$17.19M	2.1%	$100.68 *	$53.69	+15.4%	COM	30231G102
—	People's United Financial	1,113,135	$16.89M	2.1%	$15.17	$14.90	—	COM	712704105
—	Accenture Ltd	205,576	$16.62M	2.0%	$80.84	$72.13	—	COM	g1151c101
SLB	Schlumberger Ltd.	126,956	$14.97M	1.8%	$117.95 *	$53.08	+61.8%	COM	806857108
—	National Health Invstrs	237,497	$14.86M	1.8%	$62.56	$59.86	—	COM	63633d104
AAPL	Apple Computer	158,871	$14.76M	1.8%	$92.93 *	$17.90	+14.0%	COM	037833100
—	Pall Corp.	159,111	$13.59M	1.7%	$85.39	$66.43	—	COM	696429307
—	Apache Corp.	122,949	$12.37M	1.5%	$100.62	$83.73	—	COM	037411105
JNJ	Johnson & Johnson	115,316	$12.06M	1.5%	$104.62 *	$59.66	+27.4%	COM	478160104
HAL	Halliburton Inc.	162,791	$11.56M	1.4%	$71.01 *	$33.35	+71.3%	COM	406216101
PG	Procter & Gamble Co.	147,056	$11.56M	1.4%	$78.59 *	$55.00	+3.5%	COM	742718109
MDLZ	Mondelez Int'l Inc	293,755	$11.05M	1.3%	$37.61 *	$23.28	+25.5%	COM	609207105
IBM	International Business Machine	54,635	$9.904M	1.2%	$181.28 *	$118.83	-8.8%	COM	459200101
—	Tidewater Inc.	174,725	$9.811M	1.2%	$56.15	$56.58	—	COM	886423102
—	United Technologies	84,481	$9.753M	1.2%	$115.45	$94.06	—	COM	913017109
DIS	Walt Disney Co.	110,082	$9.438M	1.2%	$85.74 *	$56.11	+37.4%	COM	254687106
INTC	Intel Corp.	298,287	$9.217M	1.1%	$30.90 *	$17.21	+36.0%	COM	458140100
—	General Electric Co.	339,808	$8.93M	1.1%	$26.28	$23.71	—	COM	369604103
CAT	Caterpillar Inc.	77,139	$8.383M	1.0%	$108.67 *	$61.55	+31.4%	COM	149123101
WMT	Wal-Mart Stores Inc.	110,611	$8.304M	1.0%	$75.07 *	$19.98	+0.3%	COM	931142103
—	Boardwalk Pipeline Prtnrs LP	442,500	$8.186M	1.0%	$18.50	$13.41	—	COM	096627104
—	LinnCo, LLC	244,199	$7.641M	0.9%	$31.29	$30.81	—	COM	535782106
—	HCC Ins Hldgs	145,787	$7.135M	0.9%	$48.94	$43.11	—	COM	404132102
—	Verizon Comm.	143,619	$7.027M	0.9%	$48.93	$48.70	—	COM	92343v104
SYY	Sysco Corp.	187,136	$7.008M	0.9%	$37.45 *	$24.40	+12.5%	COM	871829107
PM	Philip Morris Intl	80,514	$6.788M	0.8%	$84.31 *	$49.54	-3.7%	COM	718172109
BKD	Brookdale Sr Living Inc	202,274	$6.744M	0.8%	$33.34	$27.71	+20.3%	COM	112463104
FDX	FedEx Corp.	44,266	$6.701M	0.8%	$151.38 *	$81.95	+56.9%	COM	31428X106
—	HCP Inc	158,042	$6.54M	0.8%	$41.38	$44.86	—	COM	40414L109
T	AT&T, Inc.	183,679	$6.495M	0.8%	$35.36 *	$11.38	+3.4%	COM	00206R102
—	Merck & Company Inc.	110,420	$6.388M	0.8%	$57.85	$46.72	—	COM	58933y105
HD	Home Depot Inc.	74,215	$6.008M	0.7%	$80.95 *	$56.27	+10.1%	COM	437076102
UPS	United Parcel Svc. Cl B	57,923	$5.946M	0.7%	$102.65 *	$55.38	+23.3%	COM	911312106
BBBY	Overstock	358,000	$5.646M	0.7%	$15.77	$22.17	-28.9%	COM	690370101
RSG	Republic Services Inc.	141,533	$5.374M	0.7%	$37.97 *	$26.38	+16.7%	COM	760759100
CPB	Campbell Soup Co.	112,000	$5.131M	0.6%	$45.81 *	$30.86	+3.8%	COM	134429109
LOW	Lowes Companies	104,667	$5.023M	0.6%	$47.99 *	$32.27	+20.8%	COM	548661107
CSCO	Cisco Systems Inc.	189,268	$4.703M	0.6%	$24.85 *	$15.24	+13.9%	COM	17275R102
—	Duke Energy Corp.	62,795	$4.659M	0.6%	$74.19	$67.50	—	COM	26441c204
MSFT	Microsoft Corp.	103,691	$4.324M	0.5%	$41.70 *	$26.93	+30.4%	COM	594918104
—	Vodafone Group PLC ADS	128,356	$4.286M	0.5%	$33.39	$36.81	—	COM	92857w308
—	Medtronic Inc.	61,515	$3.922M	0.5%	$63.76	$51.47	—	COM	585055106
AMZN	Amazon.Com	11,077	$3.598M	0.4%	$324.82 *	$18.03	-9.9%	COM	023135106
—	Twenty-First Cent Fox Inc. Cl	101,367	$3.47M	0.4%	$34.23	$33.19	—	COM	90130a200
KO	Coca Cola Co.	80,127	$3.394M	0.4%	$42.36 *	$27.85	+6.0%	COM	191216100
IJR	iShares S&P SmallCap 600 Index	29,540	$3.311M	0.4%	$112.09 *	$44.45	+26.1%	COM	464287804
MCD	McDonalds Corp.	32,406	$3.265M	0.4%	$100.75 *	$71.61	+4.8%	COM	580135101
WFC	Wells Fargo & Co.	61,943	$3.256M	0.4%	$52.56 *	$28.50	+33.6%	COM	949746101
PFE	Pfizer Inc.	104,455	$3.1M	0.4%	$29.68 *	$16.52	+5.3%	COM	717081103
RHHBY	Roche Holdings	82,052	$3.059M	0.4%	$37.28	$30.91	+20.7%	COM	771195104
WTM	White Mountain Ins	4,909	$2.987M	0.4%	$608.47	$583.58	+4.3%	COM	G9618E107
—	Oracle	70,797	$2.869M	0.3%	$40.52	$30.98	—	COM	68389x105
—	Royal Dutch Shell Class B	32,110	$2.794M	0.3%	$87.01	$66.91	—	COM	780259107
CVX	Chevron Corp.	19,488	$2.544M	0.3%	$130.54 *	$71.17	+12.4%	COM	166764100
AMGN	Amgen Inc.	21,442	$2.538M	0.3%	$118.37 *	$77.72	+10.0%	COM	031162100
—	Altria Group, Inc.	59,515	$2.496M	0.3%	$41.94	$35.00	—	COM	02209s103
—	Scripps Networks Interactive,	30,700	$2.491M	0.3%	$81.14	$66.78	—	COM	811065101
PEP	PepsiCo Inc.	27,175	$2.428M	0.3%	$89.35 *	$56.14	+12.8%	COM	713448108
FXI	iShares FTSE China 25 Index Fu	64,525	$2.39M	0.3%	$37.04	$35.90	+3.2%	COM	464287184
XLU	SPDR Utilities Select	52,902	$2.341M	0.3%	$44.25 *	$20.01	+10.6%	COM	81369Y886
—	Twenty-First Cent Fox Inc. Cl	61,454	$2.16M	0.3%	$35.15	$33.25	—	COM	90130a101
—	DIRECTV	25,247	$2.146M	0.3%	$85.00	$61.85	—	COM	25490a309
VWO	Vanguard Emerging Markets ETF	46,986	$2.027M	0.2%	$43.14	$41.70	+3.4%	COM	922042858
BMY	Bristol Myers Squibb	41,095	$1.994M	0.2%	$48.52 *	$29.13	+13.2%	COM	110122108
EPP	iShares MSCI Pacific Rim	37,846	$1.864M	0.2%	$49.25	$48.23	+2.1%	COM	464286665
—	Select Basic Materials Sector	37,016	$1.837M	0.2%	$49.63	$38.35	—	COM	81369y100
—	3M Company	12,759	$1.828M	0.2%	$143.27	$109.70	—	COM	88579y101
EEM	iShares MSCI Emerging Markets	41,596	$1.798M	0.2%	$43.23	$41.59	+3.9%	COM	464287234
—	Dentsply Intl Inc	37,671	$1.784M	0.2%	$47.36	$40.95	—	COM	249030107
GHC	Graham Holdings Co	2,333	$1.675M	0.2%	$717.96 *	$339.79	+13.0%	COM	384637104
NEM	Newmont Mining Corp	64,102	$1.631M	0.2%	$25.44 *	$22.31	-11.2%	COM	651639106
GIS	General Mills Inc.	30,840	$1.62M	0.2%	$52.53 *	$31.98	+10.3%	COM	370334104
—	Dominion Resources, Inc.	21,711	$1.553M	0.2%	$71.53	$56.83	—	COM	25746u109
—	Express Scripts, Inc.	22,060	$1.529M	0.2%	$69.31	$61.85	—	COM	30219g108
—	Kraft Foods Group, Inc.	24,159	$1.448M	0.2%	$59.94	$55.87	—	COM	50076q106
—	Leucadia Natl Corp	53,800	$1.411M	0.2%	$26.23	$26.22	—	COM	527288104
—	Computer Sciences Corp.	21,581	$1.364M	0.2%	$63.20	$43.76	—	COM	205363104
FCX	Freeport McMoran, Inc.	35,685	$1.303M	0.2%	$36.51 *	$24.79	+27.3%	COM	35671D857
—	Comcast Corp. Special Class A	23,335	$1.244M	0.2%	$53.31	$40.58	—	COM	20030n200
PRA	Proassurance Corp	27,750	$1.232M	0.2%	$44.40	$49.77	-10.8%	COM	74267C106
MKC	McCormick	15,500	$1.11M	0.1%	$71.61 *	$28.19	+1.6%	COM	579780206
—	Travelers Inc.	11,269	$1.06M	0.1%	$94.06	$79.89	—	COM	89417e109
—	Forestar Group	53,000	$1.012M	0.1%	$19.09	$19.65	—	COM	346233109
—	Zoetis, Inc.	31,369	$1.012M	0.1%	$32.26	$29.76	—	COM	98978v103
—	SunTrust Banks Inc.	25,144	$1.007M	0.1%	$40.05	$31.58	—	COM	867914103
AIG	American Int'l Group	17,430	$951K	0.1%	$54.56 *	$36.80	+13.4%	COM	026874784
BRK/A	Berkshire Hathaway 'A'	5	$950K	0.1%	$190000.00	$165023.42	+15.1%	COM	084670108
AXP	American Express Co.	9,796	$929K	0.1%	$94.83 *	$61.29	+31.2%	COM	025816109
HON	Honeywell Intl.	9,986	$928K	0.1%	$92.93 *	$54.04	+21.8%	COM	438516106
VMC	Vulcan Materials	12,900	$822K	0.1%	$63.72 *	$46.69	+24.5%	COM	929160109
—	Regions Financial Corp.	76,160	$809K	0.1%	$10.62	$9.65	—	COM	7591ep100
WU	Western Union	44,782	$777K	0.1%	$17.35	$17.11	—	COM	959802109
GLD	SPDR Gold Trust	5,688	$728K	0.1%	$127.99	$124.22	+3.1%	COM	78463V107
—	Novartis AG	7,881	$713K	0.1%	$90.47	$71.75	—	COM	66987v109
TJX	TJX Companies, Inc.	13,350	$710K	0.1%	$53.18 *	$20.85	+8.9%	COM	872540109
—	J. P. Morgan Chase & Co. Inc.	12,198	$703K	0.1%	$57.63	$53.14	—	COM	46625h100
—	Horsehead Holding	37,000	$676K	0.1%	$18.27	$12.81	—	COM	440694305
—	Yamana Gold	79,407	$653K	0.1%	$8.22	$9.37	—	COM	98462Y100
—	Pico Holdings	26,000	$618K	0.1%	$23.77	$21.12	—	COM	693366205
USB	US Bancorp	13,925	$603K	0.1%	$43.30 *	$22.41	+30.0%	COM	902973304
—	Google Inc. Class C	928	$534K	0.1%	$575.43	$1045.77	—	COM	38259P706
SBUX	Starbucks Corp.	6,883	$533K	0.1%	$77.44 *	$24.66	+24.9%	COM	855244109
—	AbbVie, Inc.	9,418	$532K	0.1%	$56.49	$43.28	—	COM	00287y109
VV	Vanguard Large-Cap Exchanged T	5,785	$521K	0.1%	$90.06	$74.48	+20.9%	COM	922908637
—	Mead Johnson Nutrition	5,409	$504K	0.1%	$93.18	$79.17	—	COM	582839106
NHC	National Healthcare	8,915	$502K	0.1%	$56.31	$46.69	+20.6%	COM	635906100
—	Goldman Sachs Group	2,930	$491K	0.1%	$167.58	$167.58	—	COM	38141g104
—	Google Inc. Class A	820	$479K	0.1%	$584.15	$584.15	—	COM	38259P508
—	ConocoPhillips	5,548	$476K	0.1%	$85.80	$60.48	—	COM	20825c104
—	Hewlett Packard Co.	13,741	$463K	0.1%	$33.69	$25.25	—	COM	428236103
IWB	iShares Russell 1000 Index ETF	3,970	$437K	0.1%	$110.08	$90.16	+22.1%	COM	464287622
VB	Vanguard Small-Cap VIPERs	3,725	$436K	0.1%	$117.05	$92.50	+26.6%	COM	922908751
ALL	AllState Corp.	7,297	$428K	0.1%	$58.65 *	$37.12	+23.5%	COM	020002101
—	Natl Healthcare Cv Prf	28,533	$427K	0.1%	$14.97	$14.94	—	PFD CV	635906209
—	L-3 Communications	3,450	$417K	0.1%	$120.87	$85.63	—	COM	502424104
ADP	Automatic Data Processing	5,131	$407K	0.0%	$79.32 *	$45.09	+20.1%	COM	053015103
—	Sigma Aldrich Corp.	4,000	$406K	0.0%	$101.50	$80.50	—	COM	826552101
ZBH	Zimmer Holdings, Inc.	3,765	$391K	0.0%	$103.85 *	$88.67	+3.5%	COM	98956P102
IVV	iShares S&P 500 Core Index ETF	1,975	$389K	0.0%	$196.96	$161.92	+21.7%	COM	464287200
—	Covidien Ltd	4,279	$386K	0.0%	$90.21	$62.91	—	COM	g2554f113
ABT	Abbott Laboratories	9,298	$380K	0.0%	$40.87 *	$28.95	+13.4%	COM	002824100
—	Brookfield Pptys Part	17,000	$355K	0.0%	$20.88	$20.02	—	COM	G16249107
TRC	Tejon Ranch Co.	11,000	$354K	0.0%	$32.18 *	$27.47	+13.8%	COM	879080109
—	HealthStream Inc.	13,600	$330K	0.0%	$24.26	$25.29	—	COM	42222n103
—	Liberty Media Corp.	2,414	$330K	0.0%	$136.70	$130.92	—	COM	531229102
—	Truxton Corp.	17,100	$325K	0.0%	$19.01	$19.01	—	COM	89845y107
RIG	Transocean, Ltd	7,163	$323K	0.0%	$45.09	$42.54	+5.8%	COM	H8817H100
—	E. I. Dupont de Nemours & Co.	4,543	$297K	0.0%	$65.38	$52.51	—	COM	263534109
MS	Morgan Stanley	9,000	$291K	0.0%	$32.33 *	$17.33	+37.6%	COM	617446448
DEO	Diageo PLC	2,200	$280K	0.0%	$127.27	$124.72	+2.0%	COM	25243Q205
VO	Vanguard Mid-Cap Exchange Trad	2,325	$276K	0.0%	$118.71 *	$23.72	+25.1%	COM	922908629
IWR	iShares Russell Mid-Cap Index	1,605	$261K	0.0%	$162.62 *	$32.42	+25.4%	COM	464287499
EFA	iShares MSCI EAFE Index Fund	3,796	$260K	0.0%	$68.49	$61.40	+11.3%	COM	464287465
AAL	American Airlines Grp	6,000	$258K	0.0%	$43.00 *	$32.09	+26.2%	COM	02376R102
NWS	News Corp. Ltd. Cl B	14,508	$253K	0.0%	$17.44 *	$15.37	+0.0%	COM	65249B208
—	Pinnacle Financial Partners	6,325	$250K	0.0%	$39.53	$29.83	—	COM	72346q104
DVY	iShares DJ Select Dividend Ind	3,230	$249K	0.0%	$77.09	$69.60	+10.6%	COM	464287168
IWM	Russell 2000 Index Fund	2,000	$238K	0.0%	$119.00	$103.76	+14.5%	COM	464287655
—	Celgene Corp.	2,746	$236K	0.0%	$85.94	$116.35	—	COM	151020104
DRI	Darden Restaurants, Inc.	5,000	$231K	0.0%	$46.20 *	$31.34	-6.4%	COM	237194105
CL	Colgate Palmolive Co.	3,378	$230K	0.0%	$68.09 *	$44.56	+17.1%	COM	194162103
—	Syntroleum	68,247	$229K	0.0%	$3.36	$6.90	—	COM	871630208
CVS	CVS Caremark Corp.	3,015	$227K	0.0%	$75.29 *	$54.89	-0.2%	COM	126650100
BAC	BankAmerica Corp.	14,715	$226K	0.0%	$15.36 *	$10.51	+15.3%	COM	060505104
—	Comcast Corp. - Class A	4,032	$216K	0.0%	$53.57	$53.57	—	COM	20030n101
SRCE	1st Source Corporation	7,000	$214K	0.0%	$30.57	$23.78	—	COM	336901103
YUM	Yum! Brands, Inc.	2,528	$205K	0.0%	$81.09 *	$44.64	+5.0%	COM	988498101
FHN	First Horizon Nat'l	10,474	$124K	0.0%	$11.84 *	$7.73	+7.3%	COM	320517105
AERN	AER Energy Resources Inc	5,000,000	$0	0.0%	$0.00	$0.00	-29.6%	COM	000944207