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 264 1,600 SH   SOLE   1,600 0 0
ABBOTT LABORATORIES COM 002824100 243 5,255 SH   SOLE   5,255 0 0
ABBVIE INC COM 00287y109 293 5,011 SH   SOLE   5,011 0 0
AFFILIATED MANAGERS GRP COM 008252108 28,182 131,213 SH   SOLE   130,813 400 0
AMERICAN EXPRESS CO COM 025816109 28,578 365,823 SH   SOLE   364,523 1,300 0
ANNALY CAP MGMT INC COM 035710409 3,326 319,775 SH   SOLE   319,775 0 0
APACHE CORP COM 037411105 545 9,030 SH   SOLE   9,030 0 0
APPLE INC COM 037833100 7,681 61,729 SH   SOLE   61,729 0 0
AUTOMATIC DATA PROCESS COM 053015103 315 3,677 SH   SOLE   3,677 0 0
BANK OF AMERICA CORP COM 060505104 173 11,241 SH   SOLE   11,241 0 0
BAXTER INTL COM 071813109 243 3,550 SH   SOLE   3,550 0 0
BED BATH & BEYOND COM 075896100 702 9,140 SH   SOLE   9,140 0 0
BERKSHIRE HATHAWAY A COM 084670108 9,135 42 SH   SOLE   42 0 0
BERKSHIRE HATHAWAY B COM 084670702 108,347 750,744 SH   SOLE   747,744 3,000 0
BLACKSTONE GROUP COM 09253u908 2,120 54,500 SH   SOLE   54,500 0 0
BP PLC ADR F SPONSORED ADR 1 A COM 055622104 731 18,695 SH   SOLE   18,695 0 0
BROOKFIELD ASSET MGMT COM 112585104 12,739 237,632 SH   SOLE   237,632 0 0
CALIFORNIA RESOURCES CORP COM 13057q107 112 14,682 SH   SOLE   14,682 0 0
CERNER CORP COM 156782104 205 2,800 SH   SOLE   2,800 0 0
CHEVRON CORPORATION COM 166764100 2,488 23,698 SH   SOLE   23,698 0 0
CHURCHILL DOWNS COM 171484108 1,785 15,525 SH   SOLE   15,525 0 0
CITY NATIONAL CORP COM 178566105 22,698 254,805 SH   SOLE   254,480 325 0
COCA COLA COM COM 191216100 24,301 599,292 SH   SOLE   598,292 1,000 0
COLFAX CORP COM 194014106 6,179 129,450 SH   SOLE   129,450 0 0
CONOCOPHILLIPS COM 20825C104 727 11,674 SH   SOLE   11,674 0 0
COSTCO WHSL CORP NEW COM 22160K105 523 3,450 SH   SOLE   3,450 0 0
DIAMOND HILL INVESTMENT GROUP COM 25264R207 400 2,500 SH   SOLE   2,500 0 0
DISNEY WALT CO COM 254687106 3,622 34,528 SH   SOLE   34,528 0 0
DOUGLAS EMMETT INC COM 25960p109 18,831 631,703 SH   SOLE   629,703 2,000 0
DU PONT E I DE NEMOURS COM 263534109 327 4,580 SH   SOLE   4,580 0 0
ENSTAR GROUP LTD COM g3075p101 30,043 211,781 SH   SOLE   211,381 400 0
ESTEE LAUDER COM 518439104 12,496 150,263 SH   SOLE   149,763 500 0
EXPEDITORS INTL WASH COM 302130109 874 18,150 SH   SOLE   18,150 0 0
EXXON MOBIL CORP COM COM 30231g102 31,395 369,348 SH   SOLE   367,143 2,205 0
FAIRFAX FINL HLDGS LTD COM 303901102 3,379 6,027 SH   SOLE   6,027 0 0
FARMERS CAP BK CORP COM 309562106 209 9,000 SH   SOLE   9,000 0 0
FIRST BUSEY CORP COM 319383105 110 16,500 SH   SOLE   16,500 0 0
GAMCO INVS INC COM 361438104 31,565 402,054 SH   SOLE   400,954 1,100 0
GAMING & LEISURE PPTYS COM 36467j108 11,750 318,684 SH   SOLE   318,684 0 0
GENERAL ELECTRIC CO COM 369604103 334 13,467 SH   SOLE   13,467 0 0
GENERAL EMPLOYMENT ENT INC COM 369730106 13 14,000 SH   SOLE   14,000 0 0
GOLDMAN SACHS GRP INC COM 38141g104 25,940 138,003 SH   SOLE   137,753 250 0
GOOGLE INC CL A COM 38259p508 9,761 17,596 SH   SOLE   17,596 0 0
GOOGLE INC CL C COM 38259p706 13,941 25,439 SH   SOLE   25,399 40 0
HON INDUSTRIES COM 404251100 469 8,500 SH   SOLE   8,500 0 0
HOWARD HUGHES CORP COM 44267d107 1,678 10,825 SH   SOLE   10,825 0 0
HUMANA INC COM 444859102 1,664 9,350 SH   SOLE   9,350 0 0
INTERNATIONAL BUS MACH COM 459200101 486 3,025 SH   SOLE   3,025 0 0
INTUIT COM 461202103 233 2,400 SH   SOLE   2,400 0 0
JOHNSON AND JOHNSON COM 478160104 25,397 252,453 SH   SOLE   251,953 500 0
JPMORGAN CHASE & CO COM 46625h100 15,260 251,898 SH   SOLE   249,446 2,452 0
LAKES ENTMT INC COM 51206p208 166 19,450 SH   SOLE   19,450 0 0
LAS VEGAS SANDS CORP COM 517834107 8,678 157,665 SH   SOLE   157,665 0 0
LEUCADIA NATL CORP COM 527288104 30,004 1,346,093 SH   SOLE   1,343,093 3,000 0
LifePoint Hospitals COM 53219l109 264 3,600 SH   SOLE   3,600 0 0
MARKEL CORP COM COM 570535104 61,188 79,572 SH   SOLE   79,322 250 0
MCDONALDS CORP COM 580135101 619 6,350 SH   SOLE   6,350 0 0
MERCK & CO INC COM 58933y105 365 6,344 SH   SOLE   6,344 0 0
MICROSOFT CORP COM 594918104 259 6,377 SH   SOLE   6,377 0 0
MONDELEZ INTL INC COM 609207105 268 7,418 SH   SOLE   7,418 0 0
NESTLE S.A SPONS COM 641069406 217 2,873 SH   SOLE   2,873 0 0
NIKE INC CL B COM 654106103 15,807 157,546 SH   SOLE   157,546 0 0
NORFOLK SOUTHERN CORP COM 655844108 205 1,990 SH   SOLE   1,990 0 0
NORTHERN TRUST CORP COM 665859104 286 4,100 SH   SOLE   4,100 0 0
OAKTREE CAPITAL GROUP LLC COM 674001201 214 4,150 SH   SOLE   4,150 0 0
OCCIDENTAL PETE CORP COM 674599105 2,662 36,463 SH   SOLE   36,463 0 0
PEPSICO INC COM 713448108 23,805 248,957 SH   SOLE   248,557 400 0
PFIZER INC COM 717081103 649 18,665 SH   SOLE   18,665 0 0
PHILIP MORRIS INTL INC COM 718172109 610 8,094 SH   SOLE   8,094 0 0
PNC FINL SERVICES GP INC COM 693475105 1,620 17,370 SH   SOLE   15,720 1,650 0
PROCTER & GAMBLE CO COM 742718109 12,508 152,647 SH   SOLE   152,047 600 0
QUALCOMM INC COM 747525103 255 3,675 SH   SOLE   3,675 0 0
REALOGY HLDGS CORP COM 75605y106 11,053 243,035 SH   SOLE   243,035 0 0
S&P DEPOSITARY RECEIPTS COM 78462F103 398 1,928 SH   SOLE   1,928 0 0
SCHLUMBERGER LTD COM 806857108 29,513 353,705 SH   SOLE   353,105 600 0
SEACOAST BKG CORP FLA COM 811707801 4,393 307,827 SH   SOLE   307,827 0 0
SOUTHERN NATL BANCORP VA COM 843395104 4,987 419,102 SH   SOLE   419,102 0 0
SPECTRA ENERGY CORP COM 847560109 299 8,275 SH   SOLE   8,275 0 0
T ROWE PRICE ASSOCIATES COM 74144t108 6,217 76,772 SH   SOLE   76,772 0 0
TIFFANY & CO NEW COM 886547108 15,880 180,430 SH   SOLE   180,030 400 0
TOTAL SYS SERV INC COM 891906109 260 6,819 SH   SOLE   6,819 0 0
UNITED PARCEL SVC COM 911312106 1,316 13,575 SH   SOLE   13,575 0 0
UNITED TECHNOLOGIES CP COM 913017109 1,146 9,774 SH   SOLE   9,774 0 0
US BANCORP DEL COM 902973304 953 21,830 SH   SOLE   21,830 0 0
VORNADO REALTY TRUST COM 929042109 24,825 221,652 SH   SOLE   220,902 750 0
WAL-MART STORES INC COM 931142103 24,545 298,423 SH   SOLE   297,323 1,100 0
WELLS FARGO & CO COM 949746101 28,948 532,133 SH   SOLE   529,383 2,750 0
WESTERN UNION CO COM 959802109 281 13,500 SH   SOLE   13,500 0 0
WHOLE FOODS MARKET, INC. COM 966837106 9,924 190,560 SH   SOLE   190,560 0 0
WINTRUST FINANCIAL CORP COM 97650w108 1,589 33,323 SH   SOLE   33,323 0 0
WYNN RESORTS LTD COM 983134107 21,987 174,665 SH   SOLE   174,265 400 0