Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
FRFHF	Fairfax Financial Hld	165,810	$81.91M	9.8%	$494.00 *	$316.93	+28.4%	COM	303901102
BRK/B	Berkshire Hathaway 'B'	592,384	$80.63M	9.6%	$136.11	$110.02	+23.7%	COM	084670702
HCA	HCA Holdings, Inc.	519,447	$47.12M	5.6%	$90.72 *	$37.51	+124.8%	COM	40412C101
—	Corrections Corp Amer	897,295	$29.68M	3.5%	$33.08	$33.75	—	COM	22025y407
—	Level 3 Commun	559,134	$29.45M	3.5%	$52.67	$21.08	—	COM	52729N308
BLX	Banco LatinoAmericano	722,765	$23.26M	2.8%	$32.18 *	$11.35	+53.5%	COM	P16994132
—	TEGNA, Inc.	616,755	$19.78M	2.4%	$32.07	$32.07	—	COM	87901j105
—	Accenture Ltd	202,555	$19.6M	2.3%	$96.78	$72.13	—	COM	g1151c101
AAPL	Apple Computer	153,162	$19.21M	2.3%	$125.42 *	$18.13	+54.7%	COM	037833100
—	Pall Corp.	151,868	$18.9M	2.3%	$124.45	$66.43	—	COM	696429307
L	Loews Corp.	421,923	$16.25M	1.9%	$38.51 *	$42.04	-12.9%	COM	540424108
—	Peoples United Fncl	999,479	$16.2M	1.9%	$16.21	$14.90	—	COM	712704105
XOM	Exxon Mobil Corp.	168,029	$13.98M	1.7%	$83.20 *	$53.69	-1.8%	COM	30231G102
—	National Health Invstrs	222,214	$13.84M	1.7%	$62.30	$59.86	—	COM	63633d104
MDLZ	Mondelez Int'l Inc	310,109	$12.76M	1.5%	$41.14 *	$23.57	+37.9%	COM	609207105
DIS	Walt Disney Co.	100,513	$11.47M	1.4%	$114.14 *	$56.11	+85.2%	COM	254687106
—	HCC Ins Hldgs	146,273	$11.24M	1.3%	$76.84	$43.11	—	COM	404132102
PG	Procter & Gamble Co.	143,479	$11.23M	1.3%	$78.24 *	$55.00	+6.2%	COM	742718109
JNJ	Johnson & Johnson	114,932	$11.2M	1.3%	$97.46 *	$59.66	+22.0%	COM	478160104
SLB	Schlumberger Ltd.	125,288	$10.8M	1.3%	$86.19 *	$53.37	+19.9%	COM	806857108
—	United Technologies	89,649	$9.945M	1.2%	$110.93	$94.74	—	COM	913017109
—	General Electric Co.	357,656	$9.503M	1.1%	$26.57	$23.85	—	COM	369604103
INTC	Intel Corp.	287,226	$8.736M	1.0%	$30.42 *	$17.21	+37.6%	COM	458140100
WMT	Wal-Mart Stores Inc.	116,245	$8.245M	1.0%	$70.93 *	$20.09	-3.4%	COM	931142103
BBBY	Overstock	352,618	$7.948M	0.9%	$22.54	$22.17	+1.7%	COM	690370101
—	Verizon Comm.	167,066	$7.787M	0.9%	$46.61	$48.53	—	COM	92343v104
BKD	Brookdale Sr Living Inc	218,739	$7.59M	0.9%	$34.70	$28.21	+23.0%	COM	112463104
FDX	FedEx Corp.	43,927	$7.485M	0.9%	$170.40 *	$82.71	+75.9%	COM	31428X106
HD	Home Depot Inc.	66,857	$7.43M	0.9%	$111.13 *	$56.27	+54.2%	COM	437076102
—	Apache Corp.	126,695	$7.301M	0.9%	$57.63	$81.19	—	COM	037411105
HAL	Halliburton Inc.	162,098	$6.982M	0.8%	$43.07 *	$33.48	+5.0%	COM	406216101
—	Boardwalk Pipeline Prtnrs LP	474,415	$6.889M	0.8%	$14.52	$13.47	—	COM	096627104
CAT	Caterpillar Inc.	80,349	$6.815M	0.8%	$84.82 *	$62.46	+4.2%	COM	149123101
PM	Philip Morris Intl	84,645	$6.786M	0.8%	$80.17 *	$49.43	-3.7%	COM	718172109
SYY	Sysco Corp.	182,974	$6.605M	0.8%	$36.10 *	$24.47	+12.4%	COM	871829107
LOW	Lowes Companies	98,492	$6.596M	0.8%	$66.97 *	$32.27	+71.2%	COM	548661107
IBM	International Business Machine	39,915	$6.493M	0.8%	$162.67 *	$118.83	-15.9%	COM	459200101
—	HCP Inc	176,665	$6.443M	0.8%	$36.47	$44.18	—	COM	40414L109
T	AT&T, Inc.	178,220	$6.33M	0.8%	$35.52 *	$11.38	+11.6%	COM	00206R102
—	Merck & Company Inc.	103,335	$5.883M	0.7%	$56.93	$46.72	—	COM	58933y105
UPS	United Parcel Svc. Cl B	55,370	$5.366M	0.6%	$96.91 *	$55.38	+19.7%	COM	911312106
RSG	Republic Services Inc.	133,958	$5.247M	0.6%	$39.17 *	$26.38	+23.8%	COM	760759100
CSCO	Cisco Systems Inc.	172,515	$4.737M	0.6%	$27.46 *	$15.24	+29.6%	COM	17275R102
MSFT	Microsoft Corp.	106,304	$4.693M	0.6%	$44.15 *	$27.34	+39.5%	COM	594918104
MDT	Medtronic PLC	62,930	$4.663M	0.6%	$74.10 *	$58.10	-1.4%	COM	G5960L103
AMZN	Amazon.Com	10,742	$4.663M	0.6%	$434.09 *	$18.01	+20.5%	COM	023135106
—	Twenty-First Cent Fox Inc. Cl	134,610	$4.337M	0.5%	$32.22	$33.39	—	COM	90130A200
—	Gannett Co. Inc.	308,378	$4.314M	0.5%	$13.99	$13.99	—	COM	36473h104
—	Chesapeake Energy	378,846	$4.232M	0.5%	$11.17	$20.71	—	COM	165167107
—	KKR & Company LP	182,663	$4.174M	0.5%	$22.85	$22.46	—	COM	48248M102
—	Duke Energy Corp.	59,005	$4.167M	0.5%	$70.62	$67.50	—	COM	26441c204
CPB	Campbell Soup Co.	87,000	$4.146M	0.5%	$47.66 *	$30.86	+11.0%	COM	134429109
—	Tidewater Inc.	168,920	$3.84M	0.5%	$22.73	$54.64	—	COM	886423102
MCD	McDonalds Corp.	38,555	$3.665M	0.4%	$95.06 *	$72.30	+1.4%	COM	580135101
RHHBY	Roche Holdings	99,029	$3.473M	0.4%	$35.07	$31.64	+10.8%	COM	771195104
WFC	Wells Fargo & Co.	61,319	$3.449M	0.4%	$56.25 *	$28.50	+46.8%	COM	949746101
PFE	Pfizer Inc.	101,541	$3.405M	0.4%	$33.53 *	$16.53	+23.1%	COM	717081103
—	LinnCo, LLC	353,173	$3.337M	0.4%	$9.45	$24.09	—	COM	535782106
AMGN	Amgen Inc.	21,108	$3.241M	0.4%	$153.54 *	$79.92	+41.3%	COM	031162100
WTM	White Mountain Ins	4,902	$3.211M	0.4%	$655.04	$583.58	+12.2%	COM	G9618E107
IJR	iShares S&P SmallCap 600 Index	26,845	$3.164M	0.4%	$117.86 *	$44.64	+32.0%	COM	464287804
KO	Coca Cola Co.	79,681	$3.126M	0.4%	$39.23 *	$27.88	+1.1%	COM	191216100
—	Altria Group, Inc.	62,421	$3.053M	0.4%	$48.91	$35.77	—	COM	02209s103
—	DIRECTV	32,110	$2.979M	0.4%	$92.77	$67.21	—	COM	25490a309
BMY	Bristol Myers Squibb	43,585	$2.9M	0.3%	$66.54 *	$29.43	+57.8%	COM	110122108
—	Oracle	68,544	$2.762M	0.3%	$40.30	$31.49	—	COM	68389x105
—	Google Inc. Class C	5,162	$2.687M	0.3%	$520.53	$626.01	—	COM	38259P706
FXI	iShares FTSE China 25 Index Fu	57,725	$2.661M	0.3%	$46.10	$35.90	+28.4%	COM	464287184
GHC	Graham Holdings Co	2,349	$2.525M	0.3%	$1074.93 *	$339.79	+71.8%	COM	384637104
SPY	S & P 500 Index Depository Rec	12,038	$2.478M	0.3%	$205.85	$210.25	-2.1%	COM	78462F103
—	Leucadia Natl Corp	99,771	$2.422M	0.3%	$24.28	$24.93	—	COM	527288104
PEP	PepsiCo Inc.	24,782	$2.313M	0.3%	$93.33 *	$56.14	+21.2%	COM	713448108
—	Twenty-First Cent Fox Inc. Cl	69,004	$2.246M	0.3%	$32.55	$33.21	—	COM	90130a101
DAL	Delta Airlines Inc.	49,752	$2.044M	0.2%	$41.08 *	$38.79	-6.9%	COM	247361702
—	Zoetis, Inc.	41,405	$1.997M	0.2%	$48.23	$31.53	—	COM	98978v103
XLU	SPDR Utilities Select	46,786	$1.94M	0.2%	$41.47 *	$20.09	+3.2%	COM	81369Y886
—	Scripps Networks Interactive,	29,655	$1.939M	0.2%	$65.39	$66.78	—	COM	811065101
—	3M Company	12,540	$1.935M	0.2%	$154.31	$109.70	—	COM	88579y101
—	Computer Sciences Corp.	29,035	$1.906M	0.2%	$65.64	$50.95	—	COM	205363104
CVX	Chevron Corp.	19,686	$1.899M	0.2%	$96.46 *	$71.16	-13.8%	COM	166764100
VWO	Vanguard Emerging Markets ETF	45,016	$1.84M	0.2%	$40.87	$41.72	-2.0%	COM	922042858
—	Kraft Foods Group, Inc.	21,525	$1.833M	0.2%	$85.16	$55.87	—	COM	50076q106
—	Dentsply Intl Inc	35,313	$1.82M	0.2%	$51.54	$41.05	—	COM	249030107
—	Comcast Corp. Special Class A	30,240	$1.813M	0.2%	$59.95	$45.17	—	COM	20030n200
—	Express Scripts, Inc.	19,110	$1.7M	0.2%	$88.96	$61.85	—	COM	30219g108
—	Select Basic Materials Sector	34,466	$1.668M	0.2%	$48.40	$38.35	—	COM	81369y100
GIS	General Mills Inc.	28,265	$1.575M	0.2%	$55.72 *	$31.98	+20.7%	COM	370334104
—	Dominion Resources, Inc.	23,111	$1.545M	0.2%	$66.85	$58.88	—	COM	25746u109
—	Royal Dutch Shell Class B	26,878	$1.541M	0.2%	$57.33	$66.91	—	COM	780259107
—	SunTrust Banks Inc.	35,736	$1.537M	0.2%	$43.01	$34.10	—	COM	867914103
EEM	iShares MSCI Emerging Markets	38,543	$1.527M	0.2%	$39.62	$41.49	-4.5%	COM	464287234
EPP	iShares MSCI Pacific Rim	33,846	$1.469M	0.2%	$43.40	$48.23	-10.0%	COM	464286665
BRK/A	Berkshire Hathaway 'A'	7	$1.434M	0.2%	$204857.14	$177346.64	+15.5%	COM	084670108
—	Vodafone Group PLC ADS	39,059	$1.424M	0.2%	$36.46	$36.81	—	COM	92857w308
SBUX	Starbucks Corp.	23,768	$1.274M	0.2%	$53.60 *	$34.12	+26.9%	COM	855244109
MKC	McCormick	15,515	$1.256M	0.1%	$80.95 *	$28.18	+17.4%	COM	579780206
BP	BP PLC	30,057	$1.201M	0.1%	$39.96	$46.28	-13.7%	COM	055622104
AIG	American Int'l Group	19,361	$1.197M	0.1%	$61.83 *	$37.46	+27.3%	COM	026874784
GLD	SPDR Gold Trust	10,212	$1.148M	0.1%	$112.42	$123.07	-8.7%	COM	78463V107
VMC	Vulcan Materials	13,175	$1.106M	0.1%	$83.95 *	$47.19	+62.9%	COM	929160109
—	Forestar Group	82,500	$1.086M	0.1%	$13.16	$17.80	—	COM	346233109
—	J. P. Morgan Chase & Co. Inc.	15,236	$1.032M	0.1%	$67.73	$54.45	—	COM	46625h100
DEO	Diageo PLC	8,405	$975K	0.1%	$116.00	$118.83	-2.3%	COM	25243Q205
HON	Honeywell Intl.	9,460	$965K	0.1%	$102.01 *	$54.87	+34.2%	COM	438516106
NEM	Newmont Mining Corp	41,071	$959K	0.1%	$23.35 *	$22.31	-18.1%	COM	651639106
—	Regions Financial Corp.	85,959	$891K	0.1%	$10.37	$9.72	—	COM	7591ep100
AAL	American Airlines Grp	22,221	$887K	0.1%	$39.92 *	$43.69	-13.0%	COM	02376R102
TJX	TJX Companies, Inc.	12,854	$851K	0.1%	$66.21 *	$20.85	+37.1%	COM	872540109
WU	Western Union	39,555	$804K	0.1%	$20.33	$17.11	—	COM	959802109
OC	Owens Corning	19,185	$791K	0.1%	$41.23	$40.99	+0.6%	COM	690742101
—	Goldman Sachs Group	3,620	$756K	0.1%	$208.84	$171.75	—	COM	38141g104
—	Novartis AG	7,631	$750K	0.1%	$98.28	$71.75	—	COM	66987v109
—	AbbVie, Inc.	10,960	$736K	0.1%	$67.15	$47.92	—	COM	00287y109
AXP	American Express Co.	8,776	$682K	0.1%	$77.71 *	$61.29	+9.2%	COM	025816109
LUV	Southwest Airlines Co.	19,748	$653K	0.1%	$33.07 *	$36.70	-20.1%	COM	844741108
—	Approach Resources	93,500	$640K	0.1%	$6.84	$6.39	—	COM	03834A103
—	Travelers Inc.	6,600	$638K	0.1%	$96.67	$79.89	—	COM	89417e109
ZBH	Zimmer Holdings, Inc.	5,526	$604K	0.1%	$109.30 *	$88.97	+9.4%	COM	98956P102
NHC	National Healthcare	8,865	$576K	0.1%	$64.97	$46.69	+39.2%	COM	635906100
USB	US Bancorp	13,100	$569K	0.1%	$43.44 *	$22.41	+33.2%	COM	902973304
VV	Vanguard Large-Cap Exchanged T	5,945	$564K	0.1%	$94.87	$77.05	+23.1%	COM	922908637
—	Horsehead Holding	48,000	$563K	0.1%	$11.73	$12.58	—	COM	440694305
IVV	iShares S&P 500 Core Index ETF	2,710	$562K	0.1%	$207.38	$179.11	+15.7%	COM	464287200
—	Sigma Aldrich Corp.	4,000	$557K	0.1%	$139.25	$80.50	—	COM	826552101
IWB	iShares Russell 1000 Index ETF	4,770	$554K	0.1%	$116.14	$94.53	+22.7%	COM	464287622
FCX	Freeport McMoran, Inc.	28,588	$532K	0.1%	$18.61 *	$24.79	-32.8%	COM	35671D857
VB	Vanguard Small-Cap VIPERs	4,059	$493K	0.1%	$121.46	$94.76	+28.2%	COM	922908751
—	Mead Johnson Nutrition	5,314	$479K	0.1%	$90.14	$79.17	—	COM	582839106
ABT	Abbott Laboratories	9,223	$453K	0.1%	$49.12 *	$29.24	+37.6%	COM	002824100
—	Natl Healthcare Cv Prf	28,483	$437K	0.1%	$15.34	$14.94	—	PFD CV	635906209
ADP	Automatic Data Processing	5,314	$426K	0.1%	$80.17 *	$45.72	+39.7%	COM	053015103
—	Hewlett Packard Co.	14,091	$423K	0.1%	$30.02	$25.62	—	COM	428236103
—	HealthStream Inc.	13,600	$414K	0.0%	$30.44	$25.29	—	COM	42222n103
—	Pinnacle Financial Partners	7,455	$405K	0.0%	$54.33	$31.36	—	COM	72346q104
—	Pico Holdings	27,500	$405K	0.0%	$14.73	$20.25	—	COM	693366205
URI	United Rentals, Inc.	4,560	$400K	0.0%	$87.72 *	$92.74	-8.5%	COM	911363109
—	L-3 Communications	3,400	$385K	0.0%	$113.24	$85.63	—	COM	502424104
—	Brookfield Pptys Part	17,000	$375K	0.0%	$22.06	$20.02	—	COM	G16249107
DRI	Darden Restaurants, Inc.	5,000	$355K	0.0%	$71.00 *	$31.34	+49.7%	COM	237194105
—	ConocoPhillips	5,748	$353K	0.0%	$61.41	$61.03	—	COM	20825c104
—	Google Inc. Class A	653	$353K	0.0%	$540.58	$576.57	—	COM	38259P508
EFA	iShares MSCI EAFE Index Fund	5,541	$352K	0.0%	$63.53	$62.94	+0.9%	COM	464287465
CVS	CVS Caremark Corp.	3,215	$337K	0.0%	$104.82 *	$55.49	+39.3%	COM	126650100
ALL	AllState Corp.	5,011	$325K	0.0%	$64.86 *	$37.12	+38.8%	COM	020002101
—	Truxton Corp.	14,010	$315K	0.0%	$22.48	$19.01	—	COM	89845y107
—	Celgene Corp.	2,630	$304K	0.0%	$115.59	$116.24	—	COM	151020104
VO	Vanguard Mid-Cap Exchange Trad	2,380	$303K	0.0%	$127.31 *	$24.21	+31.6%	COM	922908629
C	Citigroup Inc.	5,368	$297K	0.0%	$55.33 *	$38.18	+7.9%	COM	172967424
BA	Boeing Co.	2,069	$287K	0.0%	$138.71 *	$109.27	+12.4%	COM	097023105
IWR	iShares Russell Mid-Cap Index	1,665	$284K	0.0%	$170.57 *	$33.08	+28.7%	COM	464287499
TRC	Tejon Ranch Co.	11,000	$283K	0.0%	$25.73 *	$27.47	-9.1%	COM	879080109
RIG	Transocean, Ltd	17,398	$280K	0.0%	$16.09	$40.12	-59.8%	COM	H8817H100
—	E. I. Dupont de Nemours & Co.	4,238	$271K	0.0%	$63.95	$52.99	—	COM	263534109
BAC	BankAmerica Corp.	15,615	$266K	0.0%	$17.03 *	$10.67	+27.3%	COM	060505104
—	Comcast Corp. - Class A	4,200	$253K	0.0%	$60.24	$53.57	—	COM	20030n101
—	Renewable Energy	21,427	$248K	0.0%	$11.57	$10.03	—	COM	75972a301
MS	Morgan Stanley	6,000	$233K	0.0%	$38.83 *	$17.33	+67.2%	COM	617446448
—	Liberty Global plc Class C	4,492	$227K	0.0%	$50.53	$48.39	—	COM	G5480U120
CL	Colgate Palmolive Co.	3,245	$212K	0.0%	$65.33 *	$44.56	+14.8%	COM	194162103
DVY	iShares DJ Select Dividend Ind	2,680	$201K	0.0%	$75.00	$79.10	-5.0%	COM	464287168
—	Yamana Gold	65,921	$198K	0.0%	$3.00	$8.91	—	COM	98462Y100
SXC	SunCoke Energy	13,500	$175K	0.0%	$12.96	$15.74	-17.4%	COM	86722A103
FHN	First Horizon Nat'l	10,474	$164K	0.0%	$15.66 *	$7.73	+44.1%	COM	320517105
—	Monmouth REIT	13,000	$126K	0.0%	$9.69	$9.69	—	COM	609720107
—	AuRico Gold Inc.	29,000	$82,000	0.0%	$2.83	$2.98	—	COM	05155C105
AERN	AER Energy Resources Inc	5,000,000	$0	0.0%	$0.00	$0.00	-30.2%	COM	000944207
—	Syntroleum	17,983	$0	0.0%	$0.00	$6.90	—	COM	871630208