Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BRK/B	Berkshire Hathaway 'B'	599,226	$79.12M	10.4%	$110.02	+22.0%	COM	084670702
FRFHF	Fairfax Financial Hld	166,208	$78.28M	10.2%	$316.93	+25.0%	COM	303901102
HCA	HCA Holdings, Inc.	458,317	$31M	4.1%	$38.03	+70.5%	COM	40412C101
—	Level 3 Commun	566,471	$30.79M	4.0%	$21.08	—	COM	52729N308
—	Corrections Corp Amer	886,936	$23.5M	3.1%	$33.75	—	COM	22025y407
—	Accenture Ltd	193,013	$20.17M	2.6%	$72.13	—	COM	g1151c101
BLX	Banco LatinoAmericano	719,502	$18.66M	2.4%	$11.35	+28.9%	COM	P16994132
AAPL	Apple Computer	157,861	$16.62M	2.2%	$18.33	+40.4%	COM	037833100
—	TEGNA, Inc.	632,533	$16.14M	2.1%	$31.72	—	COM	87901j105
L	Loews Corp.	412,501	$15.84M	2.1%	$42.04	-15.6%	COM	540424108
—	Peoples United Fncl	889,803	$14.37M	1.9%	$14.90	—	COM	712704105
MDLZ	Mondelez Int'l Inc	309,752	$13.89M	1.8%	$23.57	+50.5%	COM	609207105
—	National Health Invstrs	222,214	$13.53M	1.8%	$59.86	—	COM	63633d104
XOM	Exxon Mobil Corp.	171,526	$13.37M	1.7%	$53.62	-4.2%	COM	30231G102
JNJ	Johnson & Johnson	116,268	$11.94M	1.6%	$59.83	+26.9%	COM	478160104
PG	Procter & Gamble Co.	146,606	$11.64M	1.5%	$55.03	+5.3%	COM	742718109
DIS	Walt Disney Co.	104,714	$11M	1.4%	$57.93	+76.5%	COM	254687106
—	General Electric Co.	342,068	$10.65M	1.4%	$23.85	—	COM	369604103
INTC	Intel Corp.	285,533	$9.837M	1.3%	$17.21	+54.9%	COM	458140100
—	United Technologies	95,327	$9.158M	1.2%	$94.30	—	COM	913017109
T	AT&T, Inc.	258,516	$8.896M	1.2%	$11.66	+6.6%	COM	00206R102
SLB	Schlumberger Ltd.	124,823	$8.706M	1.1%	$53.44	+5.0%	COM	806857108
BKD	Brookdale Sr Living Inc	462,394	$8.536M	1.1%	$25.42	-15.3%	COM	112463104
FDX	FedEx Corp.	57,119	$8.51M	1.1%	$95.78	+38.1%	COM	31428X106
HD	Home Depot Inc.	64,010	$8.465M	1.1%	$56.27	+77.7%	COM	437076102
LOW	Lowes Companies	96,709	$7.354M	1.0%	$32.27	+91.2%	COM	548661107
SYY	Sysco Corp.	176,957	$7.255M	0.9%	$24.47	+28.6%	COM	871829107
PM	Philip Morris Intl	82,500	$7.253M	0.9%	$49.43	+5.8%	COM	718172109
AMZN	Amazon.com	10,287	$6.953M	0.9%	$18.01	+75.0%	COM	023135106
—	Verizon Comm.	150,431	$6.953M	0.9%	$48.53	—	COM	92343v104
—	HCP Inc	172,831	$6.609M	0.9%	$44.08	—	COM	40414L109
MSFT	Microsoft Corp.	114,507	$6.353M	0.8%	$28.32	+62.2%	COM	594918104
—	Boardwalk Pipeline Prtnrs LP	476,217	$6.181M	0.8%	$13.47	—	COM	096627104
RSG	Republic Services Inc.	131,708	$5.794M	0.8%	$26.38	+38.9%	COM	760759100
HAL	Halliburton Inc.	168,495	$5.736M	0.8%	$33.40	-7.2%	COM	406216101
WMT	Wal-Mart Stores Inc.	92,314	$5.659M	0.7%	$20.06	-17.1%	COM	931142103
UPS	United Parcel Svc. Cl B	56,001	$5.389M	0.7%	$55.64	+26.9%	COM	911312106
—	Merck & Company Inc.	101,734	$5.374M	0.7%	$46.77	—	COM	58933y105
—	Owens Illinois Inc New	308,000	$5.365M	0.7%	$20.72	—	COM	690768403
BBBY	Overstock	429,280	$5.272M	0.7%	$20.81	-30.1%	COM	690370101
—	Gannett Co. Inc.	301,819	$4.917M	0.6%	$13.99	—	COM	36473h104
IBM	International Business Machine	35,320	$4.861M	0.6%	$118.83	-26.3%	COM	459200101
—	Leucadia Natl Corp	267,871	$4.658M	0.6%	$21.80	—	COM	527288104
CPB	Campbell Soup Co.	87,000	$4.572M	0.6%	$30.86	+20.7%	COM	134429109
CSCO	Cisco Systems Inc.	167,315	$4.543M	0.6%	$15.24	+32.3%	COM	17275R102
CAT	Caterpillar Inc.	65,264	$4.435M	0.6%	$62.46	-12.6%	COM	149123101
—	Alphabet Inc. Class C	5,752	$4.365M	0.6%	$608.44	—	COM	02079k107
—	Duke Energy Corp.	57,643	$4.115M	0.5%	$67.50	—	COM	26441c204
MDT	Medtronic PLC	53,130	$4.087M	0.5%	$58.10	+0.8%	COM	G5960L103
KHC	Kraft Heinz Company	55,690	$4.052M	0.5%	$47.49	-0.9%	COM	500754106
WFC	Wells Fargo & Co.	71,101	$3.865M	0.5%	$30.21	+35.2%	COM	949746101
—	Twenty-First Cent Fox Inc. Cl	136,050	$3.705M	0.5%	$33.24	—	COM	90130A200
PFE	Pfizer Inc.	114,703	$3.703M	0.5%	$17.02	+19.7%	COM	717081103
—	Apache Corp.	81,568	$3.627M	0.5%	$81.19	—	COM	037411105
RHHBY	Roche Holdings	103,004	$3.551M	0.5%	$46.79	—	COM	771195104
WTM	White Mountain Ins	4,877	$3.545M	0.5%	$583.58	+31.2%	COM	G9618E107
AMGN	Amgen Inc.	21,661	$3.516M	0.5%	$81.39	+43.1%	COM	031162100
—	Altria Group, Inc.	60,021	$3.494M	0.5%	$35.77	—	COM	02209s103
KO	Coca Cola Co.	79,681	$3.423M	0.4%	$27.88	+10.6%	COM	191216100
MCD	McDonalds Corp.	27,171	$3.21M	0.4%	$72.30	+20.7%	COM	580135101
DAL	Delta Airlines Inc.	59,671	$3.025M	0.4%	$38.91	+12.2%	COM	247361702
BMY	Bristol Myers Squibb	43,594	$2.999M	0.4%	$29.43	+58.7%	COM	110122108
IJR	iShares S&P SmallCap 600 Index	26,500	$2.918M	0.4%	$91.02	—	COM	464287804
—	Comcast Corp. - Class A	50,938	$2.874M	0.4%	$56.27	—	COM	20030n101
PEP	PepsiCo Inc.	24,360	$2.434M	0.3%	$56.14	+30.9%	COM	713448108
CVS	CVS Caremark Corp.	24,742	$2.419M	0.3%	$70.55	+2.9%	COM	126650100
—	Twenty-First Cent Fox Inc. Cl	88,507	$2.404M	0.3%	$31.85	—	COM	90130a101
—	Oracle	64,071	$2.341M	0.3%	$31.53	—	COM	68389x105
GIS	General Mills Inc.	40,245	$2.321M	0.3%	$34.43	+17.5%	COM	370334104
SPY	S & P 500 Index Depository Rec	11,227	$2.289M	0.3%	$205.80	—	COM	78462F103
LUV	Southwest Airlines Co.	52,698	$2.269M	0.3%	$35.20	+11.7%	COM	844741108
—	Zoetis, Inc.	46,681	$2.237M	0.3%	$33.66	—	COM	98978v103
FXI	iShares FTSE China 25 Index Fu	56,300	$1.987M	0.3%	$33.43	—	COM	464287184
—	Dentsply Intl Inc	32,640	$1.986M	0.3%	$41.05	—	COM	249030107
DEO	Diageo PLC	17,640	$1.924M	0.3%	$112.44	—	COM	25243Q205
XLU	SPDR Utilities Select	44,117	$1.909M	0.2%	$40.25	—	COM	81369Y886
—	3M Company	12,450	$1.876M	0.2%	$109.70	—	COM	88579y101
VWO	Vanguard Emerging Markets ETF	52,113	$1.705M	0.2%	$38.31	—	COM	922042858
—	Scripps Networks Interactive,	29,625	$1.636M	0.2%	$66.78	—	COM	811065101
—	Express Scripts, Inc.	18,710	$1.635M	0.2%	$61.85	—	COM	30219g108
—	SunTrust Banks Inc.	37,611	$1.611M	0.2%	$34.34	—	COM	867914103
URI	United Rentals, Inc.	21,925	$1.59M	0.2%	$72.84	-3.9%	COM	911363109
CVX	Chevron Corp.	17,601	$1.583M	0.2%	$71.16	-17.9%	COM	166764100
—	Dominion Resources, Inc.	22,961	$1.553M	0.2%	$58.88	—	COM	25746u109
—	KKR & Company LP	95,323	$1.486M	0.2%	$22.46	—	COM	48248M102
BP	BP PLC	45,450	$1.421M	0.2%	$38.15	—	COM	055622104
—	Select Basic Materials Sector	32,391	$1.406M	0.2%	$38.35	—	COM	81369y100
BRK/A	Berkshire Hathaway 'A'	7	$1.385M	0.2%	$177346.64	+13.5%	COM	084670108
SBUX	Starbucks Corp.	22,533	$1.353M	0.2%	$34.12	+44.8%	COM	855244109
MKC	McCormick	15,440	$1.321M	0.2%	$28.18	+23.5%	COM	579780206
VMC	Vulcan Materials	13,263	$1.26M	0.2%	$47.19	+88.4%	COM	929160109
AIG	American Int'l Group	19,338	$1.198M	0.2%	$37.46	+26.3%	COM	026874784
EPP	iShares MSCI Pacific Rim	30,248	$1.161M	0.2%	$43.25	—	COM	464286665
HON	Honeywell Intl.	11,045	$1.144M	0.1%	$57.62	+28.9%	COM	438516106
GHC	Graham Holdings Co	2,349	$1.139M	0.1%	$339.79	+44.6%	COM	384637104
—	Vodafone Group PLC ADS	35,094	$1.132M	0.1%	$36.81	—	COM	92857w308
—	Computer Sciences Corp.	32,181	$1.052M	0.1%	$51.94	—	COM	205363104
—	Celgene Corp.	8,650	$1.036M	0.1%	$118.69	—	COM	151020104
—	Cable One Inc	2,349	$1.019M	0.1%	$419.33	—	COM	12685j105
—	J. P. Morgan Chase & Co. Inc.	15,056	$994K	0.1%	$54.45	—	COM	46625h100
—	CSRA, Inc.	32,087	$963K	0.1%	$30.01	—	COM	12650t104
AAL	American Airlines Grp	22,303	$945K	0.1%	$43.61	-5.1%	COM	02376R102
—	Goldman Sachs Group	4,980	$898K	0.1%	$172.31	—	COM	38141g104
—	Royal Dutch Shell Class B	19,492	$897K	0.1%	$66.91	—	COM	780259107
—	Forestar Group	81,500	$892K	0.1%	$17.80	—	COM	346233109
EEM	iShares MSCI Emerging Markets	25,597	$824K	0.1%	$39.07	—	COM	464287234
—	Regions Financial Corp.	84,766	$814K	0.1%	$9.72	—	COM	7591ep100
OC	Owens Corning	17,249	$811K	0.1%	$40.99	+12.0%	COM	690742101
—	AbbVie, Inc.	13,510	$800K	0.1%	$49.45	—	COM	00287y109
—	Travelers Inc.	6,600	$745K	0.1%	$79.89	—	COM	89417e109
TJX	TJX Companies, Inc.	10,355	$734K	0.1%	$20.85	+48.2%	COM	872540109
—	Novartis AG	7,490	$644K	0.1%	$71.75	—	COM	66987v109
—	Zimmer Biomet Holdings, Inc.	6,176	$634K	0.1%	$93.91	—	COM	98956p102
AXP	American Express Co.	9,081	$632K	0.1%	$61.34	+2.5%	COM	025816109
NEM	Newmont Mining Corp	33,502	$603K	0.1%	$22.31	-35.4%	COM	651639106
GLD	SPDR Gold Trust	5,897	$598K	0.1%	$122.14	—	COM	78463V107
USB	US Bancorp	13,275	$566K	0.1%	$22.51	+31.5%	COM	902973304
NHC	National Healthcare	8,834	$545K	0.1%	$46.69	+38.8%	COM	635906100
WU	Western Union	30,205	$541K	0.1%	$17.11	—	COM	959802109
IWB	iShares Russell 1000 Index ETF	4,595	$521K	0.1%	$94.72	—	COM	464287622
—	Alphabet Inc. Class A	624	$485K	0.1%	$638.80	—	COM	02079k305
VV	Vanguard Large-Cap Exchanged T	5,160	$482K	0.1%	$76.72	—	COM	922908637
—	St. Jude Medical Inc.	7,625	$471K	0.1%	$63.06	—	COM	790849103
ADP	Automatic Data Processing	5,214	$442K	0.1%	$45.72	+51.2%	COM	053015103
VB	Vanguard Small-Cap VIPERs	3,859	$427K	0.1%	$95.75	—	COM	922908751
—	Mead Johnson Nutrition	5,314	$420K	0.1%	$79.17	—	COM	582839106
ABT	Abbott Laboratories	9,308	$418K	0.1%	$29.24	+25.0%	COM	002824100
IVV	iShares S&P 500 Core Index ETF	2,003	$410K	0.1%	$180.75	—	COM	464287200
—	L-3 Communications	3,400	$406K	0.1%	$85.63	—	COM	502424104
—	Chesapeake Energy	89,300	$402K	0.1%	$20.71	—	COM	165167107
—	Pico Holdings	38,500	$397K	0.1%	$17.03	—	COM	693366205
—	Brookfield Pptys Part	17,000	$395K	0.1%	$20.02	—	COM	G16249107
—	Pinnacle Financial Partners	6,835	$351K	0.0%	$31.36	—	COM	72346q104
—	Baker Hughes, Inc.	7,277	$336K	0.0%	$51.73	—	COM	057224107
DRI	Darden Restaurants, Inc.	5,000	$318K	0.0%	$31.34	+39.0%	COM	237194105
ALL	AllState Corp.	5,011	$311K	0.0%	$37.12	+34.0%	COM	020002101
—	Truxton Corp.	12,390	$310K	0.0%	$19.01	—	COM	89845y107
—	Verifone Holdings, Inc.	10,735	$301K	0.0%	$27.79	—	COM	92342y109
—	HealthStream Inc.	13,600	$299K	0.0%	$25.29	—	COM	42222n103
PSX	Phillips 66	3,598	$294K	0.0%	$54.04	+9.3%	COM	718546104
VO	Vanguard Mid-Cap Exchange Trad	2,375	$285K	0.0%	$96.88	—	COM	922908629
—	E. I. Dupont de Nemours & Co.	4,238	$282K	0.0%	$52.99	—	COM	263534109
EFA	iShares MSCI EAFE Index Fund	4,702	$276K	0.0%	$63.83	—	COM	464287465
—	Tidewater Inc.	39,331	$274K	0.0%	$54.64	—	COM	886423102
—	ConocoPhillips	5,848	$273K	0.0%	$60.81	—	COM	20825c104
IWR	iShares Russell Mid-Cap Index	1,696	$272K	0.0%	$132.49	—	COM	464287499
BA	Boeing Co.	1,842	$266K	0.0%	$109.27	+17.9%	COM	097023105
BAC	BankAmerica Corp.	14,879	$250K	0.0%	$10.76	+26.1%	COM	060505104
C	Citigroup Inc.	4,740	$245K	0.0%	$38.18	+3.8%	COM	172967424
NKE	Nike	3,921	$245K	0.0%	$56.67	0.0%	COM	654106103
PAAS	Pan American Silver	35,000	$227K	0.0%	$6.83	+5.3%	COM	697900108
CL	Colgate Palmolive Co.	3,331	$222K	0.0%	$44.86	+17.1%	COM	194162103
IJH	iShares MidCap 400	1,518	$211K	0.0%	$139.00	—	COM	464287507
—	Hewlett Packard Enterprise Co.	13,731	$209K	0.0%	$15.22	—	COM	42824c109
—	Total System Services	4,145	$206K	0.0%	$49.70	—	COM	891906109
—	Horsehead Holding	97,500	$200K	0.0%	$7.72	—	COM	440694305
SXC	SunCoke Energy	52,300	$181K	0.0%	$9.20	-47.9%	COM	86722A103
—	HP Inc.	13,731	$163K	0.0%	$11.87	—	COM	40434l105
FHN	First Horizon Nat'l	10,474	$152K	0.0%	$7.73	+34.0%	COM	320517105
—	Monmouth REIT	11,000	$115K	0.0%	$9.69	—	COM	609720107
AGI	Alamos Gold Inc New Cl A	13,550	$45,000	0.0%	$3.67	-7.5%	COM	011532108
—	Approach Resources	23,000	$42,000	0.0%	$6.39	—	COM	03834A103
AERN	AER Energy Resources Inc	5,000,000	$0	0.0%	$0.00	-29.6%	COM	000944207