Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
FRFHF	Fairfax Financial Hld	166,310	$92.9M	11.0%	$558.61 *	$316.93	+45.2%	COM	303901102
BRK/B	Berkshire Hathaway 'B'	594,189	$85.75M	10.1%	$144.32	$110.02	+31.2%	COM	084670702
HCA	HCA Holdings, Inc.	562,997	$42.35M	5.0%	$75.23 *	$37.51	+86.4%	COM	40412C101
—	Corrections Corp Amer	867,946	$34.94M	4.1%	$40.26	$33.77	—	COM	22025y407
—	Level 3 Commun	562,134	$30.27M	3.6%	$53.84	$21.08	—	COM	52729N308
BLX	Banco LatinoAmericano	725,756	$23.8M	2.8%	$32.79 *	$11.35	+54.5%	COM	P16994132
—	Gannett Co. Inc.	617,494	$22.9M	2.7%	$37.08	$24.46	—	COM	364730101
—	Accenture Ltd	200,624	$18.8M	2.2%	$93.69	$72.13	—	COM	g1151c101
AAPL	Apple Computer	149,900	$18.65M	2.2%	$124.43 *	$17.90	+54.7%	COM	037833100
L	Loews Corp.	423,569	$17.29M	2.0%	$40.83 *	$42.04	-7.8%	COM	540424108
—	National Health Invstrs	226,214	$16.06M	1.9%	$71.01	$59.86	—	COM	63633d104
—	Peoples United Fncl	1,016,369	$15.45M	1.8%	$15.20	$14.90	—	COM	712704105
—	Pall Corp.	152,368	$15.3M	1.8%	$100.39	$66.43	—	COM	696429307
XOM	Exxon Mobil Corp.	168,336	$14.31M	1.7%	$85.00 *	$53.69	-0.5%	COM	30231G102
PG	Procter & Gamble Co.	142,900	$11.71M	1.4%	$81.94 *	$55.00	+10.4%	COM	742718109
JNJ	Johnson & Johnson	114,328	$11.5M	1.4%	$100.60 *	$59.66	+25.0%	COM	478160104
MDLZ	Mondelez Int'l Inc	305,169	$11.01M	1.3%	$36.09 *	$23.45	+21.1%	COM	609207105
DIS	Walt Disney Co.	101,218	$10.62M	1.3%	$104.89 *	$56.11	+70.2%	COM	254687106
SLB	Schlumberger Ltd.	125,901	$10.51M	1.2%	$83.44 *	$53.37	+15.5%	COM	806857108
—	United Technologies	88,848	$10.41M	1.2%	$117.20	$94.74	—	COM	913017109
WMT	Wal-Mart Stores Inc.	114,394	$9.409M	1.1%	$82.25 *	$20.08	+11.4%	COM	931142103
INTC	Intel Corp.	287,931	$9.004M	1.1%	$31.27 *	$17.21	+40.4%	COM	458140100
—	Chesapeake Energy	624,530	$8.843M	1.0%	$14.16	$20.71	—	COM	165167107
—	General Electric Co.	349,328	$8.667M	1.0%	$24.81	$23.79	—	COM	369604103
BBBY	Overstock	351,618	$8.516M	1.0%	$24.22	$22.17	+9.3%	COM	690370101
—	HCC Ins Hldgs	146,273	$8.289M	1.0%	$56.67	$43.11	—	COM	404132102
BKD	Brookdale Sr Living Inc	216,074	$8.159M	1.0%	$37.76	$28.10	+34.4%	COM	112463104
—	Verizon Comm.	163,909	$7.971M	0.9%	$48.63	$48.57	—	COM	92343v104
HD	Home Depot Inc.	67,167	$7.631M	0.9%	$113.61 *	$56.27	+56.8%	COM	437076102
LOW	Lowes Companies	98,917	$7.358M	0.9%	$74.39 *	$32.27	+89.6%	COM	548661107
FDX	FedEx Corp.	44,026	$7.284M	0.9%	$165.45 *	$82.71	+70.5%	COM	31428X106
—	Boardwalk Pipeline Prtnrs LP	446,915	$7.195M	0.8%	$16.10	$13.41	—	COM	096627104
HAL	Halliburton Inc.	161,444	$7.084M	0.8%	$43.88 *	$33.48	+6.6%	COM	406216101
—	HCP Inc	163,507	$7.065M	0.8%	$43.21	$44.80	—	COM	40414L109
—	Apache Corp.	114,374	$6.9M	0.8%	$60.33	$83.73	—	COM	037411105
SYY	Sysco Corp.	179,643	$6.778M	0.8%	$37.73 *	$24.40	+16.8%	COM	871829107
IBM	International Business Machine	41,385	$6.642M	0.8%	$160.49 *	$118.83	-17.6%	COM	459200101
CAT	Caterpillar Inc.	81,347	$6.51M	0.8%	$80.03 *	$62.46	-2.5%	COM	149123101
PM	Philip Morris Intl	85,970	$6.476M	0.8%	$75.33 *	$49.43	-10.6%	COM	718172109
—	Merck & Company Inc.	103,735	$5.963M	0.7%	$57.48	$46.72	—	COM	58933y105
T	AT&T, Inc.	179,072	$5.847M	0.7%	$32.65 *	$11.38	+0.7%	COM	00206R102
RSG	Republic Services Inc.	134,583	$5.459M	0.6%	$40.56 *	$26.38	+27.3%	COM	760759100
UPS	United Parcel Svc. Cl B	55,494	$5.38M	0.6%	$96.95 *	$55.38	+18.8%	COM	911312106
MDT	Medtronic PLC	63,544	$4.956M	0.6%	$77.99 *	$58.10	+3.3%	COM	G5960L103
CSCO	Cisco Systems Inc.	174,318	$4.798M	0.6%	$27.52 *	$15.24	+30.0%	COM	17275R102
—	Duke Energy Corp.	59,055	$4.534M	0.5%	$76.78	$67.50	—	COM	26441c204
—	Twenty-First Cent Fox Inc. Cl	133,156	$4.378M	0.5%	$32.88	$33.40	—	COM	90130A200
MSFT	Microsoft Corp.	106,353	$4.324M	0.5%	$40.66 *	$27.34	+27.7%	COM	594918104
CPB	Campbell Soup Co.	87,000	$4.05M	0.5%	$46.55 *	$30.86	+7.7%	COM	134429109
AMZN	Amazon.Com	10,742	$3.997M	0.5%	$372.09 *	$18.01	+3.3%	COM	023135106
—	KKR & Company LP	170,988	$3.9M	0.5%	$22.81	$22.43	—	COM	48248M102
PFE	Pfizer Inc.	102,252	$3.557M	0.4%	$34.79 *	$16.53	+26.7%	COM	717081103
—	LinnCo, LLC	356,533	$3.412M	0.4%	$9.57	$24.09	—	COM	535782106
—	Tidewater Inc.	177,484	$3.397M	0.4%	$19.14	$54.64	—	COM	886423102
WTM	White Mountain Ins	4,902	$3.356M	0.4%	$684.62	$583.58	+17.3%	COM	G9618E107
RHHBY	Roche Holdings	97,179	$3.341M	0.4%	$34.38	$31.56	+9.0%	COM	771195104
WFC	Wells Fargo & Co.	61,079	$3.323M	0.4%	$54.40 *	$28.50	+41.1%	COM	949746101
AMGN	Amgen Inc.	20,572	$3.288M	0.4%	$159.83 *	$78.94	+48.2%	COM	031162100
KO	Coca Cola Co.	80,068	$3.247M	0.4%	$40.55 *	$27.88	+3.6%	COM	191216100
IJR	iShares S&P SmallCap 600 Index	26,505	$3.128M	0.4%	$118.02 *	$44.45	+32.8%	COM	464287804
—	Altria Group, Inc.	61,496	$3.076M	0.4%	$50.02	$35.58	—	COM	02209s103
—	Oracle	68,336	$2.949M	0.3%	$43.15	$31.49	—	COM	68389x105
BMY	Bristol Myers Squibb	43,585	$2.811M	0.3%	$64.49 *	$29.43	+52.1%	COM	110122108
—	Google Inc. Class C	5,111	$2.801M	0.3%	$548.03	$626.01	—	COM	38259P706
MCD	McDonalds Corp.	28,225	$2.75M	0.3%	$97.43 *	$71.61	+4.0%	COM	580135101
—	DIRECTV	30,755	$2.617M	0.3%	$85.09	$66.08	—	COM	25490a309
FXI	iShares FTSE China 25 Index Fu	57,725	$2.563M	0.3%	$44.40	$35.90	+23.7%	COM	464287184
GHC	Graham Holdings Co	2,349	$2.466M	0.3%	$1049.81 *	$339.79	+67.3%	COM	384637104
PEP	PepsiCo Inc.	24,932	$2.384M	0.3%	$95.62 *	$56.14	+23.3%	COM	713448108
XLU	SPDR Utilities Select	49,071	$2.18M	0.3%	$44.43 *	$20.09	+10.6%	COM	81369Y886
—	Leucadia Natl Corp	96,771	$2.157M	0.3%	$22.29	$24.95	—	COM	527288104
—	Twenty-First Cent Fox Inc. Cl	62,904	$2.129M	0.3%	$33.85	$33.28	—	COM	90130a101
—	Scripps Networks Interactive,	30,655	$2.102M	0.2%	$68.57	$66.78	—	COM	811065101
—	3M Company	12,602	$2.079M	0.2%	$164.97	$109.70	—	COM	88579y101
CVX	Chevron Corp.	19,799	$2.078M	0.2%	$104.95 *	$71.16	-7.1%	COM	166764100
—	Zoetis, Inc.	41,405	$1.917M	0.2%	$46.30	$31.53	—	COM	98978v103
—	Kraft Foods Group, Inc.	21,525	$1.875M	0.2%	$87.11	$55.87	—	COM	50076q106
VWO	Vanguard Emerging Markets ETF	44,021	$1.799M	0.2%	$40.87	$41.69	-2.0%	COM	922042858
—	Dentsply Intl Inc	35,311	$1.797M	0.2%	$50.89	$41.05	—	COM	249030107
—	Royal Dutch Shell Class B	27,578	$1.729M	0.2%	$62.69	$66.91	—	COM	780259107
—	Select Basic Materials Sector	34,566	$1.686M	0.2%	$48.78	$38.35	—	COM	81369y100
—	Express Scripts, Inc.	19,110	$1.658M	0.2%	$86.76	$61.85	—	COM	30219g108
—	Dominion Resources, Inc.	23,111	$1.638M	0.2%	$70.88	$58.88	—	COM	25746u109
GIS	General Mills Inc.	28,265	$1.6M	0.2%	$56.61 *	$31.98	+21.7%	COM	370334104
EEM	iShares MSCI Emerging Markets	39,743	$1.595M	0.2%	$40.13	$41.49	-3.3%	COM	464287234
EPP	iShares MSCI Pacific Rim	33,846	$1.535M	0.2%	$45.35	$48.23	-5.9%	COM	464286665
BRK/A	Berkshire Hathaway 'A'	7	$1.522M	0.2%	$217428.57	$177346.64	+22.6%	COM	084670108
—	SunTrust Banks Inc.	35,036	$1.44M	0.2%	$41.10	$33.92	—	COM	867914103
—	Comcast Corp. Special Class A	24,085	$1.35M	0.2%	$56.05	$41.39	—	COM	20030n200
—	Vodafone Group PLC ADS	40,276	$1.316M	0.2%	$32.67	$36.81	—	COM	92857w308
—	Computer Sciences Corp.	19,959	$1.303M	0.2%	$65.28	$44.27	—	COM	205363104
MKC	McCormick	15,515	$1.196M	0.1%	$77.09 *	$28.18	+11.3%	COM	579780206
—	Forestar Group	74,500	$1.175M	0.1%	$15.77	$18.30	—	COM	346233109
GLD	SPDR Gold Trust	10,242	$1.164M	0.1%	$113.65	$123.07	-7.6%	COM	78463V107
SBUX	Starbucks Corp.	12,009	$1.137M	0.1%	$94.68 *	$27.46	+38.8%	COM	855244109
VMC	Vulcan Materials	13,175	$1.111M	0.1%	$84.33 *	$47.19	+63.4%	COM	929160109
BP	BP PLC	27,457	$1.074M	0.1%	$39.12	$46.70	-16.3%	COM	055622104
AIG	American Int'l Group	18,341	$1.005M	0.1%	$54.80 *	$37.02	+13.9%	COM	026874784
HON	Honeywell Intl.	9,155	$955K	0.1%	$104.31 *	$54.20	+38.3%	COM	438516106
—	J. P. Morgan Chase & Co. Inc.	15,149	$918K	0.1%	$60.60	$54.45	—	COM	46625h100
TJX	TJX Companies, Inc.	12,853	$900K	0.1%	$70.02 *	$20.85	+44.7%	COM	872540109
NEM	Newmont Mining Corp	41,068	$892K	0.1%	$21.72 *	$22.31	-23.9%	COM	651639106
DEO	Diageo PLC	7,655	$846K	0.1%	$110.52	$119.32	-7.3%	COM	25243Q205
WU	Western Union	40,155	$836K	0.1%	$20.82	$17.11	—	COM	959802109
—	Regions Financial Corp.	85,959	$812K	0.1%	$9.45	$9.72	—	COM	7591ep100
AAL	American Airlines Grp	14,910	$787K	0.1%	$52.78 *	$43.85	+14.3%	COM	02376R102
—	Novartis AG	7,706	$760K	0.1%	$98.62	$71.75	—	COM	66987v109
AXP	American Express Co.	9,236	$722K	0.1%	$78.17 *	$61.29	+9.3%	COM	025816109
—	Travelers Inc.	6,600	$714K	0.1%	$108.18	$79.89	—	COM	89417e109
—	Goldman Sachs Group	3,745	$704K	0.1%	$187.98	$171.75	—	COM	38141g104
IVV	iShares S&P 500 Core Index ETF	3,150	$655K	0.1%	$207.94	$179.11	+16.0%	COM	464287200
ZBH	Zimmer Holdings, Inc.	5,526	$649K	0.1%	$117.44 *	$88.97	+17.5%	COM	98956P102
—	Approach Resources	94,500	$623K	0.1%	$6.59	$6.39	—	COM	03834A103
USB	US Bancorp	13,100	$572K	0.1%	$43.66 *	$22.41	+33.3%	COM	902973304
NHC	National Healthcare	8,865	$565K	0.1%	$63.73	$46.69	+36.4%	COM	635906100
FCX	Freeport McMoran, Inc.	29,357	$556K	0.1%	$18.94 *	$24.79	-31.8%	COM	35671D857
—	AbbVie, Inc.	9,456	$554K	0.1%	$58.59	$44.86	—	COM	00287y109
—	Sigma Aldrich Corp.	4,000	$553K	0.1%	$138.25	$80.50	—	COM	826552101
—	Mead Johnson Nutrition	5,328	$536K	0.1%	$100.60	$79.17	—	COM	582839106
ALL	AllState Corp.	7,086	$504K	0.1%	$71.13 *	$37.12	+51.6%	COM	020002101
—	Google Inc. Class A	905	$502K	0.1%	$554.70	$576.57	—	COM	38259P508
VV	Vanguard Large-Cap Exchanged T	5,260	$501K	0.1%	$95.25	$74.48	+27.8%	COM	922908637
—	Horsehead Holding	38,500	$487K	0.1%	$12.65	$12.80	—	COM	440694305
IWB	iShares Russell 1000 Index ETF	4,205	$487K	0.1%	$115.81	$91.39	+26.8%	COM	464287622
VB	Vanguard Small-Cap VIPERs	3,826	$469K	0.1%	$122.58	$93.05	+31.7%	COM	922908751
LUV	Southwest Airlines Co.	10,372	$459K	0.1%	$44.25 *	$38.60	+1.5%	COM	844741108
ADP	Automatic Data Processing	5,314	$455K	0.1%	$85.62 *	$45.72	+48.3%	COM	053015103
—	Pico Holdings	28,000	$454K	0.1%	$16.21	$20.25	—	COM	693366205
ABT	Abbott Laboratories	9,748	$452K	0.1%	$46.37 *	$29.24	+29.2%	COM	002824100
—	Natl Healthcare Cv Prf	28,483	$451K	0.1%	$15.83	$14.94	—	PFD CV	635906209
—	Hewlett Packard Co.	14,091	$439K	0.1%	$31.15	$25.62	—	COM	428236103
—	L-3 Communications	3,400	$428K	0.1%	$125.88	$85.63	—	COM	502424104
—	Brookfield Pptys Part	17,000	$412K	0.0%	$24.24	$20.02	—	COM	G16249107
DAL	Delta Airlines Inc.	8,609	$387K	0.0%	$44.95 *	$40.65	-3.0%	COM	247361702
—	ConocoPhillips	5,748	$358K	0.0%	$62.28	$61.03	—	COM	20825c104
DRI	Darden Restaurants, Inc.	5,000	$347K	0.0%	$69.40 *	$31.34	+44.8%	COM	237194105
—	HealthStream Inc.	13,600	$343K	0.0%	$25.22	$25.29	—	COM	42222n103
CVS	CVS Caremark Corp.	3,215	$332K	0.0%	$103.27 *	$55.49	+36.6%	COM	126650100
—	Pinnacle Financial Partners	7,455	$331K	0.0%	$44.40	$31.36	—	COM	72346q104
—	Truxton Corp.	14,010	$329K	0.0%	$23.48	$19.01	—	COM	89845y107
—	Celgene Corp.	2,830	$326K	0.0%	$115.19	$116.24	—	COM	151020104
MS	Morgan Stanley	9,000	$321K	0.0%	$35.67 *	$17.33	+53.2%	COM	617446448
BA	Boeing Co.	2,069	$311K	0.0%	$150.31 *	$109.27	+20.9%	COM	097023105
—	E. I. Dupont de Nemours & Co.	4,238	$303K	0.0%	$71.50	$52.99	—	COM	263534109
VO	Vanguard Mid-Cap Exchange Trad	2,245	$298K	0.0%	$132.74 *	$23.72	+39.9%	COM	922908629
TRC	Tejon Ranch Co.	11,000	$291K	0.0%	$26.45 *	$27.47	-6.5%	COM	879080109
IWR	iShares Russell Mid-Cap Index	1,565	$271K	0.0%	$173.16 *	$32.42	+33.5%	COM	464287499
—	Yamana Gold	74,309	$267K	0.0%	$3.59	$8.91	—	COM	98462Y100
RIG	Transocean, Ltd	18,045	$265K	0.0%	$14.69	$40.12	-63.4%	COM	H8817H100
EFA	iShares MSCI EAFE Index Fund	3,946	$253K	0.0%	$64.12	$61.46	+4.4%	COM	464287465
BAC	BankAmerica Corp.	15,615	$240K	0.0%	$15.37 *	$10.67	+14.8%	COM	060505104
—	Comcast Corp. - Class A	4,198	$237K	0.0%	$56.46	$53.57	—	COM	20030n101
CL	Colgate Palmolive Co.	3,245	$225K	0.0%	$69.34 *	$44.56	+21.0%	COM	194162103
—	Liberty Global plc Class C	4,492	$224K	0.0%	$49.87	$48.39	—	COM	G5480U120
DVY	iShares DJ Select Dividend Ind	2,720	$212K	0.0%	$77.94	$79.10	-1.5%	COM	464287168
SRCE	1st Source Corporation	6,500	$209K	0.0%	$32.15	$34.29	—	COM	336901103
C	Citigroup Inc.	4,064	$209K	0.0%	$51.43 *	$37.42	+2.6%	COM	172967424
SYK	Stryker	2,200	$203K	0.0%	$92.27 *	$77.85	+4.7%	COM	863667101
—	Renewable Energy	21,427	$198K	0.0%	$9.24	$10.03	—	COM	75972a301
FHN	First Horizon Nat'l	10,474	$150K	0.0%	$14.32 *	$7.73	+30.9%	COM	320517105
—	Seventy Seven Energy	17,010	$71,000	0.0%	$4.17	$23.75	—	COM	818097107
—	AuRico Gold Inc.	22,000	$61,000	0.0%	$2.77	$3.03	—	COM	05155C105
—	Syntroleum	68,222	$10,000	0.0%	$0.15	$6.90	—	COM	871630208
AERN	AER Energy Resources Inc	5,000,000	$0	0.0%	$0.00	$0.00	-50.7%	COM	000944207