Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CTBI	COMMUNITY TRUST BANCORP INC	1,564,981	$70.67M	13.0%	$19.87	+26.0%	COM	204149108
GM	GENERAL MOTORS CO	548,442	$22.41M	4.1%	$23.81	+18.3%	COM	37045V100
JPM	JP MORGAN CHASE & CO	357,467	$20.91M	3.8%	$36.37	+9.0%	COM	46625H100
—	GENERAL ELECTRIC CORP	655,194	$18.36M	3.4%	$23.29	—	COM	369604103
PHG	KONINKLIJKE PHILIPS NV-ADR	421,378	$15.58M	2.9%	$27.19	—	COM	500472303
MSFT	MICROSOFT CORP	388,491	$14.53M	2.7%	$26.75	+12.2%	COM	594918104
JNJ	JOHNSON & JOHNSON	153,348	$14.05M	2.6%	$59.66	+10.2%	COM	478160104
UNH	UNITEDHEALTH GROUP INC COM	186,405	$14.04M	2.6%	$51.55	+14.6%	COM	91324P102
XOM	EXXON MOBIL CORP	137,394	$13.9M	2.6%	$53.77	+4.0%	COM	30231G102
—	AMERICAN INTERNATIONAL GROUP	272,356	$13.9M	2.6%	$51.05	—	COM	26874784
INTC	INTEL CORP	530,648	$13.77M	2.5%	$17.16	+4.5%	COM	458140100
C	CITIGROUP INC	263,333	$13.72M	2.5%	$36.16	+4.1%	COM	172967424
LEA	LEAR CORP	165,942	$13.44M	2.5%	$46.85	+36.3%	COM	521865204
—	ROYAL DUTCH-ADR A	186,149	$13.27M	2.4%	$64.63	—	COM	780259206
SNY	SANOFI SPONS ADR	246,035	$13.2M	2.4%	$51.51	—	COM	80105N105
PG	PROCTER & GAMBLE COMPANY	160,482	$13.06M	2.4%	$55.00	+5.5%	COM	742718109
—	TOTAL S.A. SPONS ADR	207,907	$12.74M	2.3%	$49.04	—	COM	89151E109
NVS	NOVARTIS AG SPONSORED ADR	156,512	$12.58M	2.3%	$70.71	—	COM	66987V109
TEVA	TEVA PHARMACEUTICAL INDS LTD A	313,119	$12.55M	2.3%	$39.08	—	COM	881624209
—	UNILEVER N V -NY SHARES	308,532	$12.41M	2.3%	$39.35	—	COM	904784709
WFC	WELLS FARGO & CO	265,892	$12.07M	2.2%	$27.36	+12.4%	COM	949746101
UPS	UNITED PARCEL SVC INC CL B	107,979	$11.35M	2.1%	$55.38	+16.4%	COM	911312106
PEP	PEPSICO INC	134,500	$11.15M	2.1%	$56.14	+2.9%	COM	713448108
—	COVIDIEN PLC	158,972	$10.83M	2.0%	$62.84	—	COM	G2554F113
—	APACHE CORP	116,605	$10.02M	1.8%	$85.94	—	COM	37411105
—	POTASH CORP SASK INC	295,237	$9.731M	1.8%	$31.44	—	COM	73755L107
T	AT & T INC	274,373	$9.647M	1.8%	$11.21	-0.3%	COM	00206R102
COP	CONOCOPHILLIPS	131,630	$9.3M	1.7%	$39.96	+21.1%	COM	20825C104
DGS	WISDOMTREE EMERGING MKTS S/C D	185,076	$8.53M	1.6%	$46.07	—	OTR	97717W281
—	TRONOX LTD	368,743	$8.506M	1.6%	$20.62	—	COM	Q9235V101
—	MEDTRONIC INC	148,117	$8.501M	1.6%	$52.17	—	COM	585055106
AEO	AMERICAN EAGLE OUTFITTERS INC	557,082	$8.022M	1.5%	$12.18	-14.1%	COM	02553E106
MKL	MARKEL CORPORATION	13,790	$8.003M	1.5%	$525.18	+3.3%	COM	570535104
EEMV	ISHA MSCI EMERG MKT MIN VOL ET	129,711	$7.557M	1.4%	$57.31	—	OTR	464286533
SAMG	SILVERCREST ASSET MANAGEMENT G	383,880	$6.545M	1.2%	$13.30	+13.6%	COM	828359109
—	FIRST SECURITY GROUP INC	2,762,487	$6.354M	1.2%	$2.17	—	COM	336312202
WMT	WALMART STORES INC	72,895	$5.736M	1.1%	$19.98	+1.8%	COM	931142103
—	ENERGY XXI BERMUDA	194,645	$5.267M	1.0%	$27.06	—	COM	G10082140
—	GOOGLE INC CL A	4,347	$4.871M	0.9%	$880.33	—	COM	38259P508
CSCO	CISCO SYSTEMS INC	197,457	$4.429M	0.8%	$15.24	-0.2%	COM	17275R102
—	DOW CHEM COMPANY	84,780	$3.764M	0.7%	$44.40	—	COM	260543103
—	ANNALY CAPITAL MANAGEMENT REIT	369,395	$3.683M	0.7%	$9.97	—	COM	35710409
FDX	FEDEX CORPORATION	14,805	$2.128M	0.4%	$81.95	+36.8%	COM	31428X106
FCNCA	FIRST CTZNS BANCSHARES INC CL	9,500	$2.115M	0.4%	$182.75	+12.8%	COM	31946M103
KO	COCA COLA CO	47,285	$1.953M	0.4%	$27.60	-2.4%	COM	191216100
CVX	CHEVRON CORPORATION	15,330	$1.915M	0.4%	$71.30	+1.7%	COM	166764100
TGT	TARGET CORP	30,090	$1.904M	0.4%	$44.59	0.0%	COM	87612E106
—	APPLE INC	2,485	$1.394M	0.3%	$560.97	—	COM	37833100
VZ	VERIZON COMMUNICATIONS	22,282	$1.095M	0.2%	$27.04	-1.6%	COM	92343V104
—	NATURAL RESOURCE PARTNERS LP	36,479	$727K	0.1%	$20.08	—	COM	63900P103
PFE	PFIZER INC	22,424	$687K	0.1%	$16.48	+7.0%	COM	717081103
BMY	BRISTOL MYERS SQUIBB CO	11,410	$606K	0.1%	$28.67	+19.2%	COM	110122108
USB	US BANCORP NEW	14,300	$578K	0.1%	$22.41	+13.2%	COM	902973304
—	ASHLAND INC	5,925	$575K	0.1%	$97.05	—	COM	44209104
—	BB & T CORP	14,175	$529K	0.1%	$37.32	—	COM	54937107
—	BANK AMER CORP	31,400	$489K	0.1%	$15.57	—	COM	60505104
V	VISA INC	1,998	$445K	0.1%	$40.02	+15.7%	COM	92826C839
—	ALPHA NATURAL RESOURCES, INC.	59,675	$426K	0.1%	$5.24	—	COM	02076X102
EPD	ENTERPRISE PRODS PARTNERS LP	6,300	$418K	0.1%	$62.35	—	COM	293792107
HD	HOME DEPOT INC	4,432	$365K	0.1%	$56.09	+4.7%	COM	437076102
BF/A	BROWN FORMAN CORP CL A	4,760	$351K	0.1%	$17.20	+1.8%	COM	115637100
—	OAKTREE CAPITAL GROUP LLC	5,500	$324K	0.1%	$52.56	—	COM	674001201
—	KINDER MORGAN ENERGY PARTNERS	4,000	$323K	0.1%	$85.50	—	COM	494550106
—	PLUM CREEK TIMBER CO INC COM	6,022	$280K	0.1%	$46.66	—	COM	729251108
EMR	EMERSON ELECTRIC	3,900	$274K	0.1%	$40.02	+20.4%	COM	291011104
MMM	3M CO	1,874	$263K	0.0%	$61.26	+18.6%	COM	88579Y101
DUK	DUKE ENERGY CORP	3,117	$215K	0.0%	$41.83	+1.2%	COM	26441C204
—	ORION ENERGY SYSTEMS INC	12,500	$85,000	0.0%	$2.48	—	COM	686275108
LYG	LLOYDS BANKING GROUP PLC-SPONS	14,863	$79,000	0.0%	$3.82	—	COM	539439109