Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BRK/B	Berkshire Hathaway 'B'	594,026	$89.19M	10.7%	$110.02	+31.2%	COM	084670702
FRFHF	Fairfax Financial Hld	164,982	$86.45M	10.3%	$316.93	+24.7%	COM	303901102
HCA	HCA Holdings, Inc.	534,562	$39.23M	4.7%	$35.96	+81.7%	COM	40412C101
—	Corrections Corp Amer	870,857	$31.65M	3.8%	$33.77	—	COM	22025y407
—	Level 3 Commun	563,172	$27.81M	3.3%	$21.08	—	COM	52729N308
BLX	Banco LatinoAmericano	727,246	$21.89M	2.6%	$11.35	+47.4%	COM	P16994132
—	Gannett Co. Inc.	620,760	$19.82M	2.4%	$24.46	—	COM	364730101
—	Accenture Ltd	203,864	$18.21M	2.2%	$72.13	—	COM	g1151c101
L	Loews Corp.	426,740	$17.93M	2.1%	$42.04	-5.6%	COM	540424108
AAPL	Apple Computer	151,171	$16.69M	2.0%	$17.90	+34.6%	COM	037833100
—	National Health Invstrs	227,214	$15.9M	1.9%	$59.86	—	COM	63633d104
—	Peoples United Fncl	1,039,032	$15.77M	1.9%	$14.90	—	COM	712704105
XOM	Exxon Mobil Corp.	170,493	$15.76M	1.9%	$53.69	+8.0%	COM	30231G102
—	Pall Corp.	152,368	$15.42M	1.8%	$66.43	—	COM	696429307
PG	Procter & Gamble Co.	142,383	$12.97M	1.5%	$55.00	+17.5%	COM	742718109
—	Chesapeake Energy	611,586	$11.97M	1.4%	$20.85	—	COM	165167107
JNJ	Johnson & Johnson	114,247	$11.95M	1.4%	$59.66	+29.6%	COM	478160104
MDLZ	Mondelez Int'l Inc	305,169	$11.09M	1.3%	$23.45	+21.2%	COM	609207105
SLB	Schlumberger Ltd.	127,599	$10.9M	1.3%	$53.37	+26.2%	COM	806857108
INTC	Intel Corp.	289,881	$10.52M	1.3%	$17.21	+54.8%	COM	458140100
—	United Technologies	88,896	$10.22M	1.2%	$94.74	—	COM	913017109
DIS	Walt Disney Co.	104,743	$9.866M	1.2%	$56.11	+44.9%	COM	254687106
WMT	Wal-Mart Stores Inc.	112,054	$9.623M	1.1%	$20.01	+9.1%	COM	931142103
—	General Electric Co.	354,293	$8.953M	1.1%	$23.79	—	COM	369604103
BBBY	Overstock	356,268	$8.647M	1.0%	$22.17	+1.4%	COM	690370101
BKD	Brookdale Sr Living Inc	215,874	$7.916M	0.9%	$28.10	+20.7%	COM	112463104
—	Boardwalk Pipeline Prtnrs LP	442,800	$7.869M	0.9%	$13.41	—	COM	096627104
—	HCC Ins Hldgs	146,340	$7.832M	0.9%	$43.11	—	COM	404132102
FDX	FedEx Corp.	44,186	$7.673M	0.9%	$82.71	+74.0%	COM	31428X106
IBM	International Business Machine	47,378	$7.601M	0.9%	$118.83	-15.4%	COM	459200101
CAT	Caterpillar Inc.	81,454	$7.455M	0.9%	$62.46	+17.4%	COM	149123101
—	Apache Corp.	117,878	$7.387M	0.9%	$83.73	—	COM	037411105
HD	Home Depot Inc.	69,467	$7.292M	0.9%	$56.27	+32.9%	COM	437076102
—	Verizon Comm.	154,275	$7.217M	0.9%	$48.56	—	COM	92343v104
SYY	Sysco Corp.	180,172	$7.151M	0.9%	$24.40	+18.2%	COM	871829107
—	HCP Inc	158,897	$6.996M	0.8%	$44.85	—	COM	40414L109
LOW	Lowes Companies	101,547	$6.986M	0.8%	$32.27	+51.9%	COM	548661107
PM	Philip Morris Intl	84,651	$6.895M	0.8%	$49.47	-0.5%	COM	718172109
UPS	United Parcel Svc. Cl B	57,474	$6.389M	0.8%	$55.38	+28.1%	COM	911312106
HAL	Halliburton Inc.	161,941	$6.369M	0.8%	$33.48	+17.3%	COM	406216101
T	AT&T, Inc.	182,194	$6.12M	0.7%	$11.38	+3.8%	COM	00206R102
—	Tidewater Inc.	186,353	$6.04M	0.7%	$54.64	—	COM	886423102
—	Merck & Company Inc.	103,010	$5.85M	0.7%	$46.72	—	COM	58933y105
RSG	Republic Services Inc.	135,033	$5.435M	0.6%	$26.38	+21.3%	COM	760759100
—	Duke Energy Corp.	59,654	$4.984M	0.6%	$67.50	—	COM	26441c204
CSCO	Cisco Systems Inc.	177,808	$4.946M	0.6%	$15.24	+20.1%	COM	17275R102
MSFT	Microsoft Corp.	102,096	$4.742M	0.6%	$26.93	+48.1%	COM	594918104
—	Medtronic Inc.	61,378	$4.432M	0.5%	$51.47	—	COM	585055106
—	Twenty-First Cent Fox Inc. Cl	114,331	$4.218M	0.5%	$33.49	—	COM	90130A200
CPB	Campbell Soup Co.	87,000	$3.828M	0.5%	$30.86	+0.4%	COM	134429109
KO	Coca Cola Co.	80,718	$3.408M	0.4%	$27.88	+7.8%	COM	191216100
WFC	Wells Fargo & Co.	61,479	$3.37M	0.4%	$28.50	+36.1%	COM	949746101
AMZN	Amazon.Com	10,427	$3.236M	0.4%	$18.03	-13.6%	COM	023135106
PFE	Pfizer Inc.	103,190	$3.214M	0.4%	$16.53	+8.7%	COM	717081103
AMGN	Amgen Inc.	19,897	$3.169M	0.4%	$77.72	+45.8%	COM	031162100
—	KKR & Company LP	136,038	$3.157M	0.4%	$22.33	—	COM	48248M102
WTM	White Mountain Ins	4,902	$3.089M	0.4%	$583.58	+9.0%	COM	G9618E107
—	Altria Group, Inc.	62,145	$3.062M	0.4%	$35.58	—	COM	02209s103
RHHBY	Roche Holdings	89,092	$3.028M	0.4%	$48.76	—	COM	771195104
IJR	iShares S&P SmallCap 600 Index	26,430	$3.015M	0.4%	$90.68	—	COM	464287804
—	Oracle	65,491	$2.945M	0.4%	$30.98	—	COM	68389x105
MCD	McDonalds Corp.	28,115	$2.634M	0.3%	$71.61	-1.5%	COM	580135101
BMY	Bristol Myers Squibb	43,685	$2.579M	0.3%	$29.43	+32.2%	COM	110122108
—	LinnCo, LLC	243,799	$2.528M	0.3%	$30.81	—	COM	535782106
XLU	SPDR Utilities Select	52,894	$2.498M	0.3%	$40.04	—	COM	81369Y886
—	Twenty-First Cent Fox Inc. Cl	63,229	$2.428M	0.3%	$33.28	—	COM	90130a101
FXI	iShares FTSE China 25 Index Fu	57,975	$2.413M	0.3%	$33.43	—	COM	464287184
PEP	PepsiCo Inc.	25,202	$2.383M	0.3%	$56.14	+22.2%	COM	713448108
—	Scripps Networks Interactive,	30,700	$2.311M	0.3%	$66.78	—	COM	811065101
—	DIRECTV	26,645	$2.31M	0.3%	$63.15	—	COM	25490a309
CVX	Chevron Corp.	19,799	$2.221M	0.3%	$71.16	-0.9%	COM	166764100
—	Leucadia Natl Corp	94,925	$2.128M	0.3%	$25.00	—	COM	527288104
—	Google Inc. Class C	4,021	$2.117M	0.3%	$647.15	—	COM	38259P706
—	Royal Dutch Shell Class B	30,207	$2.101M	0.3%	$66.91	—	COM	780259107
—	3M Company	12,635	$2.076M	0.2%	$109.70	—	COM	88579y101
GHC	Graham Holdings Co	2,349	$2.029M	0.2%	$339.79	+29.1%	COM	384637104
—	Dentsply Intl Inc	36,260	$1.932M	0.2%	$41.05	—	COM	249030107
—	Dominion Resources, Inc.	23,411	$1.8M	0.2%	$58.88	—	COM	25746u109
—	Zoetis, Inc.	41,555	$1.788M	0.2%	$31.53	—	COM	98978v103
—	Vodafone Group PLC ADS	51,483	$1.759M	0.2%	$36.81	—	COM	92857w308
VWO	Vanguard Emerging Markets ETF	43,511	$1.741M	0.2%	$39.14	—	COM	922042858
—	Select Basic Materials Sector	34,716	$1.687M	0.2%	$38.35	—	COM	81369y100
—	Express Scripts, Inc.	19,110	$1.618M	0.2%	$61.85	—	COM	30219g108
GIS	General Mills Inc.	29,865	$1.593M	0.2%	$31.98	+10.2%	COM	370334104
BRK/A	Berkshire Hathaway 'A'	7	$1.582M	0.2%	$177346.64	+22.1%	COM	084670108
EEM	iShares MSCI Emerging Markets	38,193	$1.501M	0.2%	$39.03	—	COM	464287234
EPP	iShares MSCI Pacific Rim	33,846	$1.488M	0.2%	$43.25	—	COM	464286665
—	Comcast Corp. Special Class A	24,085	$1.386M	0.2%	$41.39	—	COM	20030n200
—	SunTrust Banks Inc.	32,541	$1.363M	0.2%	$33.37	—	COM	867914103
—	Kraft Foods Group, Inc.	21,591	$1.353M	0.2%	$55.87	—	COM	50076q106
GLD	SPDR Gold Trust	10,899	$1.238M	0.1%	$122.14	—	COM	78463V107
—	Computer Sciences Corp.	19,483	$1.228M	0.1%	$43.76	—	COM	205363104
MKC	McCormick	15,625	$1.161M	0.1%	$28.18	+2.7%	COM	579780206
—	Approach Resources	168,000	$1.074M	0.1%	$6.39	—	COM	03834A103
AIG	American Int'l Group	18,341	$1.027M	0.1%	$37.02	+11.1%	COM	026874784
BP	BP PLC	26,832	$1.023M	0.1%	$42.79	—	COM	055622104
SBUX	Starbucks Corp.	11,933	$979K	0.1%	$27.46	+13.9%	COM	855244109
—	J. P. Morgan Chase & Co. Inc.	15,086	$944K	0.1%	$54.45	—	COM	46625h100
—	Regions Financial Corp.	87,769	$927K	0.1%	$9.72	—	COM	7591ep100
HON	Honeywell Intl.	9,155	$915K	0.1%	$54.20	+26.0%	COM	438516106
AXP	American Express Co.	9,536	$887K	0.1%	$61.29	+24.7%	COM	025816109
TJX	TJX Companies, Inc.	12,852	$881K	0.1%	$20.85	+31.1%	COM	872540109
VMC	Vulcan Materials	12,900	$848K	0.1%	$46.69	+23.4%	COM	929160109
NEM	Newmont Mining Corp	44,505	$841K	0.1%	$22.31	-29.6%	COM	651639106
—	Forestar Group	53,168	$819K	0.1%	$19.32	—	COM	346233109
FCX	Freeport McMoran, Inc.	31,734	$741K	0.1%	$24.79	-2.1%	COM	35671D857
—	Novartis AG	7,881	$730K	0.1%	$71.75	—	COM	66987v109
WU	Western Union	40,155	$719K	0.1%	$17.11	—	COM	959802109
—	Travelers Inc.	6,639	$703K	0.1%	$79.89	—	COM	89417e109
ZBH	Zimmer Holdings, Inc.	5,626	$638K	0.1%	$88.97	+8.1%	COM	98956P102
IVV	iShares S&P 500 Core Index ETF	3,060	$633K	0.1%	$179.41	—	COM	464287200
—	Goldman Sachs Group	3,155	$612K	0.1%	$168.71	—	COM	38141g104
USB	US Bancorp	13,500	$607K	0.1%	$22.41	+29.9%	COM	902973304
DEO	Diageo PLC	5,230	$597K	0.1%	$119.05	—	COM	25243Q205
—	Hewlett Packard Co.	14,091	$565K	0.1%	$25.62	—	COM	428236103
NHC	National Healthcare	8,915	$560K	0.1%	$46.69	+28.7%	COM	635906100
—	AbbVie, Inc.	8,481	$555K	0.1%	$43.28	—	COM	00287y109
—	Horsehead Holding	35,000	$554K	0.1%	$12.81	—	COM	440694305
—	Sigma Aldrich Corp.	4,000	$549K	0.1%	$80.50	—	COM	826552101
—	Google Inc. Class A	1,025	$544K	0.1%	$576.57	—	COM	38259P508
—	Mead Johnson Nutrition	5,328	$536K	0.1%	$79.17	—	COM	582839106
ALL	AllState Corp.	7,286	$512K	0.1%	$37.12	+39.3%	COM	020002101
VV	Vanguard Large-Cap Exchanged T	5,295	$500K	0.1%	$74.35	—	COM	922908637
IWB	iShares Russell 1000 Index ETF	4,080	$468K	0.1%	$91.11	—	COM	464287622
VB	Vanguard Small-Cap VIPERs	3,824	$446K	0.1%	$94.18	—	COM	922908751
—	Natl Healthcare Cv Prf	28,533	$444K	0.1%	$14.94	—	PFD CV	635906209
ADP	Automatic Data Processing	5,314	$443K	0.1%	$45.72	+38.9%	COM	053015103
ABT	Abbott Laboratories	9,748	$439K	0.1%	$29.24	+20.8%	COM	002824100
—	L-3 Communications	3,450	$435K	0.1%	$85.63	—	COM	502424104
—	Pico Holdings	23,000	$434K	0.1%	$21.12	—	COM	693366205
—	HealthStream Inc.	13,600	$401K	0.0%	$25.29	—	COM	42222n103
—	ConocoPhillips	5,748	$397K	0.0%	$61.03	—	COM	20825c104
—	Brookfield Pptys Part	17,000	$389K	0.0%	$20.02	—	COM	G16249107
—	Covidien Ltd	3,650	$373K	0.0%	$62.91	—	COM	g2554f113
RIG	Transocean, Ltd	19,978	$366K	0.0%	$40.12	-37.7%	COM	H8817H100
MS	Morgan Stanley	9,000	$349K	0.0%	$17.33	+52.1%	COM	617446448
—	Yamana Gold	85,298	$343K	0.0%	$8.91	—	COM	98462Y100
TRC	Tejon Ranch Co.	11,000	$324K	0.0%	$27.47	+2.7%	COM	879080109
—	E. I. Dupont de Nemours & Co.	4,338	$321K	0.0%	$52.99	—	COM	263534109
—	Celgene Corp.	2,808	$314K	0.0%	$116.24	—	COM	151020104
CVS	CVS Caremark Corp.	3,215	$310K	0.0%	$55.49	+16.1%	COM	126650100
—	Truxton Corp.	14,010	$296K	0.0%	$19.01	—	COM	89845y107
DRI	Darden Restaurants, Inc.	5,000	$293K	0.0%	$31.34	+12.1%	COM	237194105
VO	Vanguard Mid-Cap Exchange Trad	2,325	$287K	0.0%	$95.05	—	COM	922908629
—	Pinnacle Financial Partners	7,155	$283K	0.0%	$30.81	—	COM	72346q104
BAC	BankAmerica Corp.	15,816	$283K	0.0%	$10.67	+27.0%	COM	060505104
BA	Boeing Co.	2,069	$269K	0.0%	$109.27	+1.3%	COM	097023105
IWR	iShares Russell Mid-Cap Index	1,605	$268K	0.0%	$129.60	—	COM	464287499
—	Comcast Corp. - Class A	4,195	$243K	0.0%	$53.57	—	COM	20030n101
SRCE	1st Source Corporation	7,000	$240K	0.0%	$34.29	—	COM	336901103
EFA	iShares MSCI EAFE Index Fund	3,796	$231K	0.0%	$63.94	—	COM	464287465
CL	Colgate Palmolive Co.	3,318	$230K	0.0%	$44.56	+17.1%	COM	194162103
C	Citigroup Inc.	4,102	$222K	0.0%	$37.42	+5.7%	COM	172967424
—	Liberty Global plc Class C	4,546	$220K	0.0%	$48.39	—	COM	G5480U120
SYK	Stryker	2,300	$217K	0.0%	$77.85	0.0%	COM	863667101
AAL	American Airlines Grp	4,000	$215K	0.0%	$32.09	+27.1%	COM	02376R102
—	Renewable Energy	21,410	$208K	0.0%	$10.03	—	COM	75972a301
FHN	First Horizon Nat'l	10,474	$142K	0.0%	$7.73	+15.3%	COM	320517105
—	Seventy Seven Energy	19,991	$108K	0.0%	$23.75	—	COM	818097107
—	AuRico Gold Inc.	12,000	$39,000	0.0%	$3.25	—	COM	05155C105
—	Syntroleum	68,083	$10,000	0.0%	$6.90	—	COM	871630208
AERN	AER Energy Resources Inc	5,000,000	$0	0.0%	$0.00	-31.3%	COM	000944207