Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
BRK/B	Berkshire Hathaway 'B'	598,201	$82.64M	10.2%	$138.14	$110.02	+25.6%	COM	084670702
FRFHF	Fairfax Financial Hld	165,153	$73.69M	9.1%	$446.21 *	$316.93	+13.7%	COM	303901102
HCA	HCA Holdings, Inc.	539,307	$38.03M	4.7%	$70.52 *	$35.96	+82.3%	COM	40412C101
—	Corrections Corp Amer	888,550	$30.53M	3.8%	$34.36	$33.77	—	COM	22025y407
—	Level 3 Commun	561,338	$25.67M	3.2%	$45.73	$21.08	—	COM	52729N308
BLX	Banco LatinoAmericano	734,239	$22.53M	2.8%	$30.68 *	$11.35	+41.2%	COM	P16994132
—	Gannett Co. Inc.	622,897	$18.48M	2.3%	$29.67	$24.46	—	COM	364730101
L	Loews Corp.	435,953	$18.16M	2.2%	$41.66 *	$42.04	-6.2%	COM	540424108
—	Accenture Ltd	205,651	$16.72M	2.1%	$81.32	$72.13	—	COM	g1151c101
XOM	Exxon Mobil Corp.	170,102	$16M	2.0%	$94.05 *	$53.69	+8.5%	COM	30231G102
—	Peoples United Fncl	1,073,427	$15.53M	1.9%	$14.47	$14.90	—	COM	712704105
AAPL	Apple Computer	152,822	$15.4M	1.9%	$100.75 *	$17.90	+24.2%	COM	037833100
—	Chesapeake Energy	607,190	$13.96M	1.7%	$22.99	$20.85	—	COM	165167107
—	National Health Invstrs	235,997	$13.48M	1.7%	$57.14	$59.86	—	COM	63633d104
—	Pall Corp.	155,968	$13.05M	1.6%	$83.70	$66.43	—	COM	696429307
SLB	Schlumberger Ltd.	124,992	$12.71M	1.6%	$101.69 *	$53.08	+40.0%	COM	806857108
PG	Procter & Gamble Co.	145,056	$12.15M	1.5%	$83.74 *	$55.00	+11.1%	COM	742718109
JNJ	Johnson & Johnson	113,461	$12.09M	1.5%	$106.59 *	$59.66	+30.7%	COM	478160104
—	Apache Corp.	122,123	$11.46M	1.4%	$93.87	$83.73	—	COM	037411105
MDLZ	Mondelez Int'l Inc	303,919	$10.41M	1.3%	$34.27 *	$23.45	+14.0%	COM	609207105
HAL	Halliburton Inc.	158,343	$10.21M	1.3%	$64.51 *	$33.35	+56.0%	COM	406216101
INTC	Intel Corp.	288,262	$10.04M	1.2%	$34.82 *	$17.21	+54.3%	COM	458140100
IBM	International Business Machine	51,867	$9.846M	1.2%	$189.83 *	$118.83	-3.9%	COM	459200101
DIS	Walt Disney Co.	106,346	$9.468M	1.2%	$89.03 *	$56.11	+42.7%	COM	254687106
—	United Technologies	87,857	$9.278M	1.1%	$105.60	$94.51	—	COM	913017109
—	General Electric Co.	337,360	$8.643M	1.1%	$25.62	$23.71	—	COM	369604103
WMT	Wal-Mart Stores Inc.	110,316	$8.436M	1.0%	$76.47 *	$19.98	+2.9%	COM	931142103
—	Boardwalk Pipeline Prtnrs LP	442,800	$8.28M	1.0%	$18.70	$13.41	—	COM	096627104
CAT	Caterpillar Inc.	75,194	$7.446M	0.9%	$99.02 *	$61.55	+20.5%	COM	149123101
FDX	FedEx Corp.	44,986	$7.263M	0.9%	$161.45 *	$82.71	+66.0%	COM	31428X106
—	Verizon Comm.	143,712	$7.184M	0.9%	$49.99	$48.70	—	COM	92343v104
—	LinnCo, LLC	243,839	$7.059M	0.9%	$28.95	$30.81	—	COM	535782106
PM	Philip Morris Intl	84,178	$7.02M	0.9%	$83.39 *	$49.47	-3.5%	COM	718172109
—	HCC Ins Hldgs	145,340	$7.018M	0.9%	$48.29	$43.11	—	COM	404132102
SYY	Sysco Corp.	183,401	$6.96M	0.9%	$37.95 *	$24.40	+14.8%	COM	871829107
BKD	Brookdale Sr Living Inc	215,599	$6.947M	0.9%	$32.22	$28.10	+14.7%	COM	112463104
—	Tidewater Inc.	171,367	$6.688M	0.8%	$39.03	$56.58	—	COM	886423102
HD	Home Depot Inc.	71,956	$6.601M	0.8%	$91.74 *	$56.27	+25.3%	COM	437076102
T	AT&T, Inc.	184,714	$6.509M	0.8%	$35.24 *	$11.38	+4.8%	COM	00206R102
—	Merck & Company Inc.	105,602	$6.26M	0.8%	$59.28	$46.72	—	COM	58933y105
—	HCP Inc	157,192	$6.242M	0.8%	$39.71	$44.86	—	COM	40414L109
BBBY	Overstock	357,768	$6.032M	0.7%	$16.86	$22.17	-23.9%	COM	690370101
UPS	United Parcel Svc. Cl B	57,883	$5.689M	0.7%	$98.28 *	$55.38	+18.9%	COM	911312106
LOW	Lowes Companies	103,267	$5.465M	0.7%	$52.92 *	$32.27	+33.8%	COM	548661107
RSG	Republic Services Inc.	137,033	$5.347M	0.7%	$39.02 *	$26.38	+20.8%	COM	760759100
CPB	Campbell Soup Co.	112,000	$4.786M	0.6%	$42.73 *	$30.86	-2.6%	COM	134429109
MSFT	Microsoft Corp.	102,202	$4.738M	0.6%	$46.36 *	$26.93	+45.8%	COM	594918104
CSCO	Cisco Systems Inc.	184,764	$4.651M	0.6%	$25.17 *	$15.24	+17.1%	COM	17275R102
—	Duke Energy Corp.	62,196	$4.65M	0.6%	$74.76	$67.50	—	COM	26441c204
—	Vodafone Group PLC ADS	116,052	$3.817M	0.5%	$32.89	$36.81	—	COM	92857w308
—	Medtronic Inc.	61,332	$3.799M	0.5%	$61.94	$51.47	—	COM	585055106
—	Twenty-First Cent Fox Inc. Cl	108,642	$3.619M	0.4%	$33.31	$33.31	—	COM	90130A200
KO	Coca Cola Co.	82,201	$3.507M	0.4%	$42.66 *	$27.88	+7.4%	COM	191216100
AMZN	Amazon.Com	10,412	$3.357M	0.4%	$322.42 *	$18.03	-10.6%	COM	023135106
WFC	Wells Fargo & Co.	62,184	$3.225M	0.4%	$51.86 *	$28.50	+32.8%	COM	949746101
PFE	Pfizer Inc.	105,859	$3.13M	0.4%	$29.57 *	$16.53	+5.8%	COM	717081103
WTM	White Mountain Ins	4,877	$3.073M	0.4%	$630.10	$583.58	+8.0%	COM	G9618E107
RHHBY	Roche Holdings	82,267	$3.043M	0.4%	$36.99	$30.91	+19.7%	COM	771195104
—	KKR & Company LP	131,638	$2.936M	0.4%	$22.30	$22.30	—	COM	48248M102
—	Altria Group, Inc.	62,845	$2.887M	0.4%	$45.94	$35.58	—	COM	02209s103
MCD	McDonalds Corp.	29,630	$2.809M	0.3%	$94.80 *	$71.61	-0.6%	COM	580135101
AMGN	Amgen Inc.	19,847	$2.788M	0.3%	$140.47 *	$77.72	+31.1%	COM	031162100
IJR	iShares S&P SmallCap 600 Index	26,415	$2.755M	0.3%	$104.30 *	$44.45	+17.3%	COM	464287804
—	Royal Dutch Shell Class B	32,021	$2.534M	0.3%	$79.14	$66.91	—	COM	780259107
—	Oracle	65,797	$2.519M	0.3%	$38.28	$30.98	—	COM	68389x105
PEP	PepsiCo Inc.	26,977	$2.511M	0.3%	$93.08 *	$56.14	+18.4%	COM	713448108
—	Scripps Networks Interactive,	30,700	$2.397M	0.3%	$78.08	$66.78	—	COM	811065101
XLU	SPDR Utilities Select	56,829	$2.392M	0.3%	$42.09 *	$20.09	+4.8%	COM	81369Y886
CVX	Chevron Corp.	19,588	$2.337M	0.3%	$119.31 *	$71.17	+3.6%	COM	166764100
—	DIRECTV	26,207	$2.267M	0.3%	$86.50	$62.76	—	COM	25490a309
BMY	Bristol Myers Squibb	43,678	$2.235M	0.3%	$51.17 *	$29.43	+19.1%	COM	110122108
FXI	iShares FTSE China 25 Index Fu	57,975	$2.219M	0.3%	$38.28	$35.90	+6.6%	COM	464287184
—	Energy XXI Ltd	193,790	$2.2M	0.3%	$11.35	$11.35	—	COM	g10082140
—	Twenty-First Cent Fox Inc. Cl	63,229	$2.168M	0.3%	$34.29	$33.28	—	COM	90130a101
—	Leucadia Natl Corp	82,400	$1.964M	0.2%	$23.83	$25.39	—	COM	527288104
—	3M Company	12,735	$1.804M	0.2%	$141.66	$109.70	—	COM	88579y101
—	Dominion Resources, Inc.	26,061	$1.801M	0.2%	$69.11	$58.88	—	COM	25746u109
VWO	Vanguard Emerging Markets ETF	43,136	$1.799M	0.2%	$41.71	$41.70	+0.0%	COM	922042858
—	Dentsply Intl Inc	38,523	$1.757M	0.2%	$45.61	$41.05	—	COM	249030107
—	Select Basic Materials Sector	34,716	$1.722M	0.2%	$49.60	$38.35	—	COM	81369y100
GHC	Graham Holdings Co	2,333	$1.632M	0.2%	$699.53 *	$339.79	+10.5%	COM	384637104
EPP	iShares MSCI Pacific Rim	33,846	$1.559M	0.2%	$46.06	$48.23	-4.5%	COM	464286665
GIS	General Mills Inc.	30,615	$1.545M	0.2%	$50.47 *	$31.98	+6.7%	COM	370334104
—	Zoetis, Inc.	41,655	$1.539M	0.2%	$36.95	$31.53	—	COM	98978v103
EEM	iShares MSCI Emerging Markets	36,913	$1.534M	0.2%	$41.56	$41.59	-0.1%	COM	464287234
—	Express Scripts, Inc.	19,460	$1.374M	0.2%	$70.61	$61.85	—	COM	30219g108
BRK/A	Berkshire Hathaway 'A'	6	$1.241M	0.2%	$206833.33	$170822.12	+21.1%	COM	084670108
—	Kraft Foods Group, Inc.	21,885	$1.234M	0.2%	$56.39	$55.87	—	COM	50076q106
—	Comcast Corp. Special Class A	22,935	$1.227M	0.2%	$53.50	$40.58	—	COM	20030n200
—	Computer Sciences Corp.	19,982	$1.222M	0.2%	$61.16	$43.76	—	COM	205363104
NEM	Newmont Mining Corp	52,754	$1.216M	0.2%	$23.05 *	$22.31	-19.4%	COM	651639106
FCX	Freeport McMoran, Inc.	35,899	$1.172M	0.1%	$32.65 *	$24.79	+14.8%	COM	35671D857
GLD	SPDR Gold Trust	9,927	$1.154M	0.1%	$116.25	$123.83	-6.1%	COM	78463V107
—	SunTrust Banks Inc.	29,818	$1.134M	0.1%	$38.03	$32.59	—	COM	867914103
MKC	McCormick	16,015	$1.071M	0.1%	$66.87 *	$28.18	-4.5%	COM	579780206
AIG	American Int'l Group	17,430	$942K	0.1%	$54.04 *	$36.80	+12.5%	COM	026874784
BP	BP PLC	21,400	$941K	0.1%	$43.97	$48.42	-9.2%	COM	055622104
—	Regions Financial Corp.	92,629	$930K	0.1%	$10.04	$9.72	—	COM	7591ep100
—	J. P. Morgan Chase & Co. Inc.	14,975	$902K	0.1%	$60.23	$54.45	—	COM	46625h100
—	Forestar Group	49,000	$868K	0.1%	$17.71	$19.65	—	COM	346233109
AXP	American Express Co.	9,796	$858K	0.1%	$87.59 *	$61.29	+21.4%	COM	025816109
HON	Honeywell Intl.	9,050	$843K	0.1%	$93.15 *	$54.04	+22.6%	COM	438516106
—	Seventy Seven Enrgy	33,773	$802K	0.1%	$23.75	$23.75	—	COM	818097107
RIG	Transocean, Ltd	24,527	$784K	0.1%	$31.96	$40.12	-20.3%	COM	H8817H100
VMC	Vulcan Materials	12,900	$777K	0.1%	$60.23 *	$46.69	+17.8%	COM	929160109
TJX	TJX Companies, Inc.	12,851	$760K	0.1%	$59.14 *	$20.85	+21.6%	COM	872540109
—	Novartis AG	7,881	$742K	0.1%	$94.15	$71.75	—	COM	66987v109
WU	Western Union	42,427	$681K	0.1%	$16.05	$17.11	—	COM	959802109
—	Travelers Inc.	6,669	$626K	0.1%	$93.87	$79.89	—	COM	89417e109
USB	US Bancorp	13,925	$582K	0.1%	$41.80 *	$22.41	+26.3%	COM	902973304
—	Goldman Sachs Group	3,155	$579K	0.1%	$183.52	$168.71	—	COM	38141g104
—	Horsehead Holding	35,000	$579K	0.1%	$16.54	$12.81	—	COM	440694305
—	Google Inc. Class C	993	$573K	0.1%	$577.04	$1015.09	—	COM	38259P706
ZBH	Zimmer Holdings, Inc.	5,576	$561K	0.1%	$100.61 *	$88.97	+0.1%	COM	98956P102
—	Yamana Gold	92,146	$553K	0.1%	$6.00	$8.91	—	COM	98462Y100
—	Sigma Aldrich Corp.	4,000	$544K	0.1%	$136.00	$80.50	—	COM	826552101
—	AbbVie, Inc.	9,418	$544K	0.1%	$57.76	$43.28	—	COM	00287y109
—	Mead Johnson Nutrition	5,409	$520K	0.1%	$96.14	$79.17	—	COM	582839106
SBUX	Starbucks Corp.	6,883	$519K	0.1%	$75.40 *	$24.66	+22.2%	COM	855244109
—	Pico Holdings	26,000	$519K	0.1%	$19.96	$21.12	—	COM	693366205
—	Google Inc. Class A	875	$515K	0.1%	$588.57	$584.42	—	COM	38259P508
NHC	National Healthcare	8,915	$495K	0.1%	$55.52	$46.69	+18.9%	COM	635906100
—	Hewlett Packard Co.	13,741	$487K	0.1%	$35.44	$25.25	—	COM	428236103
VV	Vanguard Large-Cap Exchanged T	5,275	$477K	0.1%	$90.43	$74.48	+21.5%	COM	922908637
IWB	iShares Russell 1000 Index ETF	4,070	$447K	0.1%	$109.83	$90.66	+21.2%	COM	464287622
ALL	AllState Corp.	7,286	$447K	0.1%	$61.35 *	$37.12	+29.7%	COM	020002101
—	ConocoPhillips	5,748	$440K	0.1%	$76.55	$61.03	—	COM	20825c104
DEO	Diageo PLC	3,790	$437K	0.1%	$115.30	$123.20	-6.3%	COM	25243Q205
—	Natl Healthcare Cv Prf	28,533	$430K	0.1%	$15.07	$14.94	—	PFD CV	635906209
ADP	Automatic Data Processing	5,131	$426K	0.1%	$83.02 *	$45.09	+26.6%	COM	053015103
VB	Vanguard Small-Cap VIPERs	3,725	$412K	0.1%	$110.60	$92.50	+19.6%	COM	922908751
—	L-3 Communications	3,450	$410K	0.1%	$118.84	$85.63	—	COM	502424104
ABT	Abbott Laboratories	9,298	$387K	0.0%	$41.62 *	$28.95	+15.9%	COM	002824100
IVV	iShares S&P 500 Core Index ETF	1,825	$362K	0.0%	$198.36	$161.92	+22.4%	COM	464287200
—	Brookfield Pptys Part	17,000	$358K	0.0%	$21.06	$20.02	—	COM	G16249107
—	HealthStream Inc.	13,600	$327K	0.0%	$24.04	$25.29	—	COM	42222n103
—	Covidien Ltd	3,650	$316K	0.0%	$86.58	$62.91	—	COM	g2554f113
MS	Morgan Stanley	9,000	$311K	0.0%	$34.56 *	$17.33	+47.5%	COM	617446448
TRC	Tejon Ranch Co.	11,000	$308K	0.0%	$28.00 *	$27.47	-0.9%	COM	879080109
—	E. I. Dupont de Nemours & Co.	4,243	$304K	0.0%	$71.65	$52.51	—	COM	263534109
VO	Vanguard Mid-Cap Exchange Trad	2,325	$273K	0.0%	$117.42 *	$23.72	+23.7%	COM	922908629
—	Truxton Corp.	14,010	$270K	0.0%	$19.27	$19.01	—	COM	89845y107
BAC	BankAmerica Corp.	15,516	$265K	0.0%	$17.08 *	$10.62	+27.0%	COM	060505104
BA	Boeing Co.	2,069	$264K	0.0%	$127.60 *	$109.27	+1.4%	COM	097023105
—	Celgene Corp.	2,738	$260K	0.0%	$94.96	$116.35	—	COM	151020104
DRI	Darden Restaurants, Inc.	5,000	$257K	0.0%	$51.40 *	$31.34	+5.3%	COM	237194105
IWR	iShares Russell Mid-Cap Index	1,605	$254K	0.0%	$158.26 *	$32.42	+22.1%	COM	464287499
EFA	iShares MSCI EAFE Index Fund	3,796	$243K	0.0%	$64.01	$61.40	+4.4%	COM	464287465
CVS	CVS Caremark Corp.	3,015	$240K	0.0%	$79.60 *	$54.89	+5.8%	COM	126650100
DVY	iShares DJ Select Dividend Ind	3,230	$239K	0.0%	$73.99	$69.60	+6.1%	COM	464287168
—	Pinnacle Financial Partners	6,625	$239K	0.0%	$36.08	$30.11	—	COM	72346q104
—	Liberty Media Corp. Ser C	4,828	$227K	0.0%	$47.02	$47.02	—	COM	531229300
—	Comcast Corp. - Class A	4,193	$225K	0.0%	$53.66	$53.57	—	COM	20030n101
C	Citigroup Inc.	4,265	$221K	0.0%	$51.82 *	$37.42	+3.1%	COM	172967424
CL	Colgate Palmolive Co.	3,378	$220K	0.0%	$65.13 *	$44.56	+12.6%	COM	194162103
AAL	American Airlines Grp	6,000	$213K	0.0%	$35.50 *	$32.09	+4.5%	COM	02376R102
NWS	News Corp. Ltd. Cl B	11,483	$185K	0.0%	$16.11 *	$15.37	-7.6%	COM	65249B208
—	Renewable Energy	14,335	$146K	0.0%	$10.18	$10.18	—	COM	75972a301
FHN	First Horizon Nat'l	10,474	$129K	0.0%	$12.32 *	$7.73	+11.6%	COM	320517105
—	Syntroleum	68,247	$82,000	0.0%	$1.20	$6.90	—	COM	871630208
—	Universal Express, Inc.	1,250,000	$0	0.0%	$0.00	—	—	COM	91349p103
AERN	AER Energy Resources Inc	5,000,000	$0	0.0%	$0.00	$0.00	-43.9%	COM	000944207