The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
3 M COM 88579Y101 227 1,600 SH   SOLE   1,600 0 0
ABBOTT LABORATORIES COM 002824100 211 5,255 SH   SOLE   5,255 0 0
ABBVIE INC COM 00287y109 273 5,011 SH   SOLE   5,011 0 0
AFFILIATED MANAGERS GRP COM 008252108 21,598 126,313 SH   SOLE   125,913 400 0
AMERICAN EXPRESS CO COM 025816109 28,778 388,213 SH   SOLE   386,913 1,300 0
AMERICAN TOWER CORP COM 03027x100 1,833 20,829 SH   SOLE   20,829 0 0
ANNALY CAP MGMT INC COM 035710409 3,386 343,075 SH   SOLE   343,075 0 0
APACHE CORP COM 037411105 346 8,830 SH   SOLE   8,830 0 0
APPLE INC COM 037833100 6,824 61,871 SH   SOLE   61,871 0 0
AUTOMATIC DATA PROCESS COM 053015103 268 3,334 SH   SOLE   3,334 0 0
BANK OF AMERICA CORP COM 060505104 175 11,241 SH   SOLE   11,241 0 0
BED BATH & BEYOND COM 075896100 501 8,790 SH   SOLE   8,790 0 0
BERKSHIRE HATHAWAY A COM 084670108 8,200 42 SH   SOLE   42 0 0
BERKSHIRE HATHAWAY B COM 084670702 101,944 781,781 SH   SOLE   778,781 3,000 0
BLACKSTONE GROUP COM 09253u908 1,770 55,900 SH   SOLE   55,900 0 0
BP PLC ADR F SPONSORED ADR 1 A COM 055622104 591 19,329 SH   SOLE   19,329 0 0
BROOKFIELD ASSET MGMT COM 112585104 11,099 353,035 SH   SOLE   353,035 0 0
CALIFORNIA RESOURCES CORP COM 13057q107 35 13,344 SH   SOLE   13,344 0 0
CARMAX INC COM 143130102 365 6,150 SH   SOLE   6,150 0 0
CHEVRON CORPORATION COM 166764100 1,642 20,818 SH   SOLE   20,818 0 0
CHURCHILL DOWNS COM 171484108 4,304 32,167 SH   SOLE   32,167 0 0
CITY NATIONAL CORP COM 178566105 2,285 25,943 SH   SOLE   25,943 0 0
COCA COLA COM COM 191216100 23,456 584,658 SH   SOLE   583,658 1,000 0
COLFAX CORP COM 194014106 4,674 156,270 SH   SOLE   156,270 0 0
CONOCOPHILLIPS COM 20825C104 526 10,960 SH   SOLE   10,960 0 0
COSTCO WHSL CORP NEW COM 22160K105 499 3,450 SH   SOLE   3,450 0 0
DIAMOND HILL INVESTMENT GROUP COM 25264R207 465 2,500 SH   SOLE   2,500 0 0
DISNEY WALT CO COM 254687106 3,559 34,826 SH   SOLE   34,826 0 0
DOUGLAS EMMETT INC COM 25960p109 17,951 625,028 SH   SOLE   623,028 2,000 0
ENSTAR GROUP LTD COM g3075p101 30,448 202,988 SH   SOLE   202,588 400 0
ESTEE LAUDER COM 518439104 11,950 148,113 SH   SOLE   147,613 500 0
EXPEDITORS INTL WASH COM 302130109 808 17,175 SH   SOLE   17,175 0 0
EXXON MOBIL CORP COM COM 30231g102 29,632 398,543 SH   SOLE   396,338 2,205 0
FAIRFAX FINL HLDGS LTD COM 303901102 2,914 6,427 SH   SOLE   6,427 0 0
FARMERS CAP BK CORP COM 309562106 224 9,000 SH   SOLE   9,000 0 0
GAMCO INVS INC COM 361438104 25,932 472,348 SH   SOLE   471,248 1,100 0
GAMING & LEISURE PPTYS COM 36467j108 10,970 369,346 SH   SOLE   369,346 0 0
GENERAL ELECTRIC CO COM 369604103 317 12,567 SH   SOLE   12,567 0 0
GENERAL EMPLOYMENT ENT INC COM 369730106 6 14,000 SH   SOLE   14,000 0 0
GOLDEN ENTERTAINMENT COM 381013101 161 17,756 SH   SOLE   17,756 0 0
GOLDMAN SACHS GRP INC COM 38141g104 27,400 157,690 SH   SOLE   157,440 250 0
GOOGLE INC CL A COM 38259p508 11,070 17,341 SH   SOLE   17,341 0 0
GOOGLE INC CL C COM 38259p706 15,635 25,698 SH   SOLE   25,658 40 0
HON INDUSTRIES COM 404251100 365 8,500 SH   SOLE   8,500 0 0
HOWARD HUGHES CORP COM 44267d107 1,213 10,575 SH   SOLE   10,575 0 0
HUMANA INC COM 444859102 1,539 8,600 SH   SOLE   8,600 0 0
INTERNATIONAL BUS MACH COM 459200101 386 2,665 SH   SOLE   2,665 0 0
INTUIT COM 461202103 213 2,400 SH   SOLE   2,400 0 0
JOHNSON AND JOHNSON COM 478160104 28,200 302,090 SH   SOLE   301,590 500 0
JPMORGAN CHASE & CO COM 46625h100 14,169 232,385 SH   SOLE   229,933 2,452 0
LAS VEGAS SANDS CORP COM 517834107 5,577 146,880 SH   SOLE   146,880 0 0
LEUCADIA NATL CORP COM 527288104 27,692 1,366,809 SH   SOLE   1,363,809 3,000 0
LIVE NATION ENT INC COM 538034109 1,076 44,750 SH   SOLE   44,750 0 0
LifePoint Hospitals COM 53219l109 255 3,600 SH   SOLE   3,600 0 0
MARKEL CORP COM COM 570535104 62,815 78,337 SH   SOLE   78,087 250 0
MCDONALDS CORP COM 580135101 636 6,454 SH   SOLE   6,454 0 0
MERCK & CO INC COM 58933y105 319 6,459 SH   SOLE   6,459 0 0
MICROSOFT CORP COM 594918104 211 4,775 SH   SOLE   4,775 0 0
MONDELEZ INTL INC COM 609207105 319 7,618 SH   SOLE   7,618 0 0
NIKE INC CL B COM 654106103 18,949 154,093 SH   SOLE   154,093 0 0
NORTHERN TRUST CORP COM 665859104 242 3,550 SH   SOLE   3,550 0 0
OCCIDENTAL PETE CORP COM 674599105 2,412 36,463 SH   SOLE   36,463 0 0
PAC WEST BANCORP COM 695263103 845 19,750 SH   SOLE   19,750 0 0
PEPSICO INC COM 713448108 23,154 245,531 SH   SOLE   245,131 400 0
PFIZER INC COM 717081103 608 19,342 SH   SOLE   19,342 0 0
PHILIP MORRIS INTL INC COM 718172109 632 7,966 SH   SOLE   7,966 0 0
PNC FINL SERVICES GP INC COM 693475105 1,384 15,520 SH   SOLE   14,170 1,350 0
PROCTER & GAMBLE CO COM 742718109 10,411 144,722 SH   SOLE   144,122 600 0
REALOGY HLDGS CORP COM 75605y106 9,421 250,360 SH   SOLE   250,360 0 0
S&P DEPOSITARY RECEIPTS COM 78462F103 342 1,787 SH   SOLE   1,787 0 0
SCHLUMBERGER LTD COM 806857108 24,684 357,890 SH   SOLE   357,290 600 0
SEACOAST BKG CORP FLA COM 811707801 2,653 180,709 SH   SOLE   180,709 0 0
SOUTHERN NATL BANCORP VA COM 843395104 6,919 612,880 SH   SOLE   612,880 0 0
T ROWE PRICE ASSOCIATES COM 74144t108 6,520 93,807 SH   SOLE   93,607 200 0
TIFFANY & CO NEW COM 886547108 13,832 179,130 SH   SOLE   178,730 400 0
TOTAL SYS SERV INC COM 891906109 310 6,819 SH   SOLE   6,819 0 0
UNITED PARCEL SVC COM 911312106 1,336 13,534 SH   SOLE   13,534 0 0
UNITED TECHNOLOGIES CP COM 913017109 862 9,682 SH   SOLE   9,682 0 0
US BANCORP DEL COM 902973304 744 18,130 SH   SOLE   18,130 0 0
VORNADO REALTY TRUST COM 929042109 21,066 232,980 SH   SOLE   232,230 750 0
WAL-MART STORES INC COM 931142103 15,977 246,413 SH   SOLE   245,513 900 0
WELLS FARGO & CO COM 949746101 26,814 522,190 SH   SOLE   519,440 2,750 0
WESTERN UNION CO COM 959802109 202 11,000 SH   SOLE   11,000 0 0
WHOLE FOODS MARKET, INC. COM 966837106 20,069 634,085 SH   SOLE   632,285 1,800 0
WINTRUST FINANCIAL CORP COM 97650w108 1,748 32,723 SH   SOLE   32,723 0 0
WYNN RESORTS LTD COM 983134107 11,283 212,415 SH   SOLE   211,865 550 0