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 263 1,600 SH   SOLE   1,600 0 0
ABBOTT LABORATORIES COM 002824100 237 5,255 SH   SOLE   5,255 0 0
ABBVIE INC COM 00287y109 346 5,287 SH   SOLE   5,287 0 0
AFFILIATED MANAGERS GRP COM 008252108 28,024 132,041 SH   SOLE   131,641 400 0
AMERICAN EXPRESS CO COM 025816109 32,586 350,233 SH   SOLE   348,933 1,300 0
ANNALY CAP MGMT INC COM 035710409 4,324 400,008 SH   SOLE   400,008 0 0
APACHE CORP COM 037411105 566 9,030 SH   SOLE   9,030 0 0
APPLE INC COM 037833100 7,064 63,994 SH   SOLE   63,994 0 0
BANK OF AMERICA CORP COM 060505104 219 12,241 SH   SOLE   12,241 0 0
BED BATH & BEYOND COM 075896100 704 9,240 SH   SOLE   9,240 0 0
BERKSHIRE HATHAWAY A COM 084670108 9,492 42 SH   SOLE   42 0 0
BERKSHIRE HATHAWAY B COM 084670702 113,039 752,842 SH   SOLE   749,842 3,000 0
BIGLARI HOLDINGS INC COM 08986r101 1,973 4,938 SH   SOLE   4,938 0 0
BLACKSTONE GROUP COM 09253u908 1,844 54,500 SH   SOLE   54,500 0 0
BP PLC ADR F SPONSORED ADR 1 A COM 055622104 713 18,695 SH   SOLE   18,695 0 0
BROOKFIELD ASSET MGMT COM 112585104 11,936 238,107 SH   SOLE   238,107 0 0
CALIFORNIA RESOURCES CORP COM 13057q107 81 14,682 SH   SOLE   14,682 0 0
CHEVRON CORPORATION COM 166764100 2,658 23,698 SH   SOLE   23,698 0 0
CHURCHILL DOWNS COM 171484108 2,147 22,525 SH   SOLE   22,525 0 0
CITY NATIONAL CORP COM 178566105 30,676 379,608 SH   SOLE   379,108 500 0
COCA COLA COM COM 191216100 25,383 601,217 SH   SOLE   600,217 1,000 0
COLFAX CORP COM 194014106 3,643 70,650 SH   SOLE   70,650 0 0
CONOCOPHILLIPS COM 20825C104 806 11,674 SH   SOLE   11,674 0 0
COSTCO WHSL CORP NEW COM 22160K105 489 3,450 SH   SOLE   3,450 0 0
DIAMOND HILL INVESTMENT GROUP COM 25264R207 345 2,500 SH   SOLE   2,500 0 0
DISNEY WALT CO COM 254687106 3,269 34,709 SH   SOLE   34,709 0 0
DOUGLAS EMMETT INC COM 25960p109 18,019 634,478 SH   SOLE   632,478 2,000 0
DU PONT E I DE NEMOURS COM 263534109 374 5,053 SH   SOLE   5,053 0 0
ENSTAR GROUP LTD COM g3075p101 31,829 208,185 SH   SOLE   207,785 400 0
ESTEE LAUDER COM 518439104 11,456 150,338 SH   SOLE   149,838 500 0
EXPEDITORS INTL WASH COM 302130109 824 18,475 SH   SOLE   18,475 0 0
EXXON MOBIL CORP COM COM 30231g102 34,272 370,706 SH   SOLE   368,501 2,205 0
FAIRFAX FINL HLDGS LTD COM 303901102 3,168 6,027 SH   SOLE   6,027 0 0
FARMERS CAP BK CORP COM 309562106 210 9,000 SH   SOLE   9,000 0 0
FDX CORP COM 31428x106 208 1,200 SH   SOLE   1,200 0 0
FIRST BUSEY CORP COM 319383105 114 17,500 SH   SOLE   17,500 0 0
GAMCO INVS INC COM 361438104 34,952 392,988 SH   SOLE   391,888 1,100 0
GAMING & LEISURE PPTYS COM 36467j108 9,985 340,315 SH   SOLE   340,315 0 0
GENERAL ELECTRIC CO COM 369604103 244 9,667 SH   SOLE   9,667 0 0
GOLDMAN SACHS GRP INC COM 38141g104 26,869 138,624 SH   SOLE   138,374 250 0
GOOGLE INC CL A COM 38259p508 9,365 17,648 SH   SOLE   17,648 0 0
GOOGLE INC CL C COM 38259p706 12,041 22,875 SH   SOLE   22,835 40 0
HON INDUSTRIES COM 404251100 434 8,500 SH   SOLE   8,500 0 0
HOWARD HUGHES CORP COM 44267d107 1,412 10,825 SH   SOLE   10,825 0 0
HUMANA INC COM 444859102 1,458 10,150 SH   SOLE   10,150 0 0
INTERNATIONAL BUS MACH COM 459200101 485 3,025 SH   SOLE   3,025 0 0
INTUIT COM 461202103 221 2,400 SH   SOLE   2,400 0 0
JOHNSON AND JOHNSON COM 478160104 26,294 251,447 SH   SOLE   250,947 500 0
JPMORGAN CHASE & CO COM 46625h100 13,811 220,697 SH   SOLE   218,245 2,452 0
KRAFT FOODS GROUP INC COM 50076q106 340 5,429 SH   SOLE   5,429 0 0
LAS VEGAS SANDS CORP COM 517834107 8,793 151,185 SH   SOLE   151,185 0 0
LEUCADIA NATL CORP COM 527288104 30,080 1,341,648 SH   SOLE   1,338,648 3,000 0
LifePoint Hospitals COM 53219l109 288 4,000 SH   SOLE   4,000 0 0
MARKEL CORP COM COM 570535104 54,558 79,899 SH   SOLE   79,649 250 0
MCDONALDS CORP COM 580135101 1,096 11,698 SH   SOLE   11,698 0 0
MERCK & CO INC COM 58933y105 374 6,577 SH   SOLE   6,577 0 0
MICROSOFT CORP COM 594918104 260 5,595 SH   SOLE   5,595 0 0
MONDELEZ INTL INC COM 609207105 280 7,704 SH   SOLE   7,704 0 0
NESTLE S.A SPONS COM 641069406 215 2,922 SH   SOLE   2,922 0 0
NIKE INC CL B COM 654106103 15,777 164,092 SH   SOLE   164,092 0 0
NORFOLK SOUTHERN CORP COM 655844108 218 1,990 SH   SOLE   1,990 0 0
NORTHERN TRUST CORP COM 665859104 310 4,600 SH   SOLE   4,600 0 0
OAKTREE CAPITAL GROUP LLC COM 674001201 215 4,150 SH   SOLE   4,150 0 0
OCCIDENTAL PETE CORP COM 674599105 2,292 28,438 SH   SOLE   28,438 0 0
PEPSICO INC COM 713448108 23,632 249,917 SH   SOLE   249,517 400 0
PFIZER INC COM 717081103 588 18,890 SH   SOLE   18,890 0 0
PHILIP MORRIS INTL INC COM 718172109 663 8,144 SH   SOLE   8,144 0 0
PNC FINL SERVICES GP INC COM 693475105 1,493 16,366 SH   SOLE   14,716 1,650 0
PROCTER & GAMBLE CO COM 742718109 14,428 158,394 SH   SOLE   157,794 600 0
QUALCOMM INC COM 747525103 273 3,675 SH   SOLE   3,675 0 0
REALOGY HLDGS CORP COM 75605y106 10,927 245,610 SH   SOLE   245,610 0 0
S&P DEPOSITARY RECEIPTS COM 78462F103 427 2,078 SH   SOLE   2,078 0 0
SCHLUMBERGER LTD COM 806857108 28,895 338,315 SH   SOLE   337,715 600 0
SEACOAST BKG CORP FLA COM 811707801 4,294 312,297 SH   SOLE   312,297 0 0
SOUTHERN NATL BANCORP VA COM 843395104 4,687 413,287 SH   SOLE   413,287 0 0
SPECTRA ENERGY CORP COM 847560109 300 8,275 SH   SOLE   8,275 0 0
T ROWE PRICE ASSOCIATES COM 74144t108 6,608 76,957 SH   SOLE   76,957 0 0
TIFFANY & CO NEW COM 886547108 19,218 179,847 SH   SOLE   179,447 400 0
TOTAL SYS SERV INC COM 891906109 232 6,819 SH   SOLE   6,819 0 0
UNITED PARCEL SVC COM 911312106 1,575 14,167 SH   SOLE   14,167 0 0
UNITED TECHNOLOGIES CP COM 913017109 1,137 9,888 SH   SOLE   9,888 0 0
US BANCORP DEL COM 902973304 1,076 23,930 SH   SOLE   23,930 0 0
VORNADO REALTY TRUST COM 929042109 26,894 228,480 SH   SOLE   227,730 750 0
WAL-MART STORES INC COM 931142103 27,816 323,889 SH   SOLE   322,789 1,100 0
WELLS FARGO & CO COM 949746101 29,375 535,850 SH   SOLE   533,100 2,750 0
WESTERN UNION CO COM 959802109 269 15,000 SH   SOLE   15,000 0 0
WHOLE FOODS MARKET, INC. COM 966837106 9,679 191,960 SH   SOLE   191,960 0 0
WINTRUST FINANCIAL CORP COM 97650w108 1,635 34,973 SH   SOLE   34,973 0 0
WYNN RESORTS LTD COM 983134107 23,575 158,475 SH   SOLE   158,075 400 0