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 274 1,914 SH   SOLE   1,914 0 0
ABBOTT LABORATORIES COM 002824100 223 5,455 SH   SOLE   5,455 0 0
ABBVIE INC COM 00287y109 298 5,287 SH   SOLE   5,287 0 0
AFFILIATED MANAGERS GRP COM 008252108 28,515 138,825 SH   SOLE   138,425 400 0
AMERICAN EXPRESS CO COM 025816109 31,232 329,206 SH   SOLE   327,906 1,300 0
ANNALY CAP MGMT INC COM 035710409 13,983 1,223,325 SH   SOLE   1,223,325 0 0
APACHE CORP COM 037411105 914 9,080 SH   SOLE   9,080 0 0
APPLE INC COM 037833100 6,052 65,129 SH   SOLE   65,129 0 0
ATLAS FINL HOLDINGS INC COM g06207115 227 15,000 SH   SOLE   15,000 0 0
BANK OF AMERICA CORP COM 060505104 219 14,241 SH   SOLE   14,241 0 0
BED BATH & BEYOND COM 075896100 515 8,975 SH   SOLE   8,975 0 0
BERKSHIRE HATHAWAY A COM 084670108 7,976 42 SH   SOLE   42 0 0
BERKSHIRE HATHAWAY B COM 084670702 97,365 769,318 SH   SOLE   766,318 3,000 0
BIGLARI HOLDINGS INC COM 08986r101 5,427 12,830 SH   SOLE   12,830 0 0
BLACKSTONE GROUP COM 09253u908 1,822 54,500 SH   SOLE   54,500 0 0
BP PLC ADR F SPONSORED ADR 1 A COM 055622104 1,013 19,195 SH   SOLE   19,195 0 0
BROOKFIELD ASSET MGMT COM 112585104 10,677 242,557 SH   SOLE   242,557 0 0
CBS CORPORATION CL B NEW COM 124857202 207 3,330 SH   SOLE   3,330 0 0
CHEVRON CORPORATION COM 166764100 3,131 23,981 SH   SOLE   23,981 0 0
CHURCHILL DOWNS COM 171484108 2,561 28,425 SH   SOLE   28,425 0 0
CITY NATIONAL CORP COM 178566105 28,930 381,858 SH   SOLE   381,358 500 0
COCA COLA COM COM 191216100 26,012 614,069 SH   SOLE   613,069 1,000 0
CONOCOPHILLIPS COM 20825C104 1,044 12,174 SH   SOLE   12,174 0 0
COSTCO WHSL CORP NEW COM 22160K105 397 3,450 SH   SOLE   3,450 0 0
DIAMOND HILL INVESTMENT GROUP COM 25264R207 319 2,500 SH   SOLE   2,500 0 0
DISNEY WALT CO COM 254687106 3,103 36,189 SH   SOLE   36,189 0 0
DOUGLAS EMMETT INC COM 25960p109 18,108 641,678 SH   SOLE   639,678 2,000 0
DU PONT E I DE NEMOURS COM 263534109 347 5,303 SH   SOLE   5,303 0 0
ENSTAR GROUP LTD COM g3075p101 31,261 207,397 SH   SOLE   206,997 400 0
ESTEE LAUDER COM 518439104 11,202 150,846 SH   SOLE   150,346 500 0
EXPEDITORS INTL WASH COM 302130109 904 20,475 SH   SOLE   20,475 0 0
EXXON MOBIL CORP COM COM 30231g102 37,250 369,989 SH   SOLE   367,784 2,205 0
FAIRFAX FINL HLDGS LTD COM 303901102 2,868 6,033 SH   SOLE   6,033 0 0
FARMERS CAP BK CORP COM 309562106 215 9,500 SH   SOLE   9,500 0 0
FDX CORP COM 31428x106 303 2,000 SH   SOLE   2,000 0 0
FIRST BUSEY CORP COM 319383105 157 27,100 SH   SOLE   27,100 0 0
GAMCO INVS INC COM 361438104 33,092 398,460 SH   SOLE   397,360 1,100 0
GAMING & LEISURE PPTYS COM 36467j108 15,060 443,344 SH   SOLE   442,448 896 0
GENERAL ELECTRIC CO COM 369604103 364 13,868 SH   SOLE   13,868 0 0
GENESEE & WYO INC CL A COM 371559105 210 2,000 SH   SOLE   2,000 0 0
GOLDMAN SACHS GRP INC COM 38141g104 23,626 141,099 SH   SOLE   140,849 250 0
GOOGLE INC CL A COM 38259p508 10,396 17,781 SH   SOLE   17,781 0 0
GOOGLE INC CL C COM 38259p706 10,166 17,671 SH   SOLE   17,671 0 0
HALIBURTON CO COM 406216101 299 4,209 SH   SOLE   4,209 0 0
HOWARD HUGHES CORP COM 44267d107 2,048 12,975 SH   SOLE   12,975 0 0
HUMANA INC COM 444859102 1,264 9,900 SH   SOLE   9,900 0 0
INTERNATIONAL BUS MACH COM 459200101 440 2,425 SH   SOLE   2,425 0 0
INTUIT COM 461202103 213 2,650 SH   SOLE   2,650 0 0
JOHNSON AND JOHNSON COM 478160104 26,770 255,879 SH   SOLE   255,379 500 0
JPMORGAN CHASE & CO COM 46625h100 14,181 246,112 SH   SOLE   243,660 2,452 0
KRAFT FOODS GROUP INC COM 50076q106 347 5,781 SH   SOLE   5,781 0 0
LAS VEGAS SANDS CORP COM 517834107 996 13,070 SH   SOLE   13,070 0 0
LEUCADIA NATL CORP COM 527288104 26,072 994,361 SH   SOLE   992,361 2,000 0
LifePoint Hospitals COM 53219l109 248 4,000 SH   SOLE   4,000 0 0
MARKEL CORP COM COM 570535104 52,857 80,619 SH   SOLE   80,369 250 0
MCDONALDS CORP COM 580135101 1,964 19,491 SH   SOLE   19,491 0 0
MERCK & CO INC COM 58933y105 398 6,877 SH   SOLE   6,877 0 0
MICROSOFT CORP COM 594918104 251 6,028 SH   SOLE   6,028 0 0
MONDELEZ INTL INC COM 609207105 284 7,558 SH   SOLE   7,558 0 0
NESTLE S.A SPONS COM 641069406 226 2,922 SH   SOLE   2,922 0 0
NIKE INC CL B COM 654106103 13,759 177,425 SH   SOLE   177,425 0 0
NORFOLK SOUTHERN CORP COM 655844108 205 1,990 SH   SOLE   1,990 0 0
NORTHERN TRUST CORP COM 665859104 632 9,850 SH   SOLE   9,850 0 0
OCCIDENTAL PETE CORP COM 674599105 2,629 25,621 SH   SOLE   25,621 0 0
PENN NATL GAMING CORP COM 707569109 3,164 260,598 SH   SOLE   259,848 750 0
PEPSICO INC COM 713448108 23,668 264,918 SH   SOLE   264,518 400 0
PFIZER INC COM 717081103 677 22,807 SH   SOLE   22,807 0 0
PHILIP MORRIS INTL INC COM 718172109 785 9,316 SH   SOLE   9,316 0 0
PNC FINL SERVICES GP INC COM 693475105 1,733 19,466 SH   SOLE   17,816 1,650 0
PROCTER & GAMBLE CO COM 742718109 14,038 178,623 SH   SOLE   178,023 600 0
QUALCOMM INC COM 747525103 341 4,309 SH   SOLE   4,309 0 0
REALOGY HLDGS CORP COM 75605y106 8,941 237,110 SH   SOLE   237,110 0 0
ROYAL DUTCH SHELL A ADRF SPONS COM 780259206 313 3,801 SH   SOLE   3,801 0 0
S&P DEPOSITARY RECEIPTS COM 78462F103 443 2,263 SH   SOLE   2,263 0 0
S&P MIDCAP 400 COM 595635103 273 1,049 SH   SOLE   1,049 0 0
SCHLUMBERGER LTD COM 806857108 6,449 54,674 SH   SOLE   54,674 0 0
SCHWAB CHARLES CORP COM 808513105 264 9,800 SH   SOLE   9,800 0 0
SEACOAST BKG CORP FLA COM 811707801 5,481 504,232 SH   SOLE   504,232 0 0
SOUTHERN NATL BANCORP VA COM 843395104 4,561 408,722 SH   SOLE   408,722 0 0
SPECTRA ENERGY CORP COM 847560109 352 8,275 SH   SOLE   8,275 0 0
T ROWE PRICE ASSOCIATES COM 74144t108 2,392 28,341 SH   SOLE   28,341 0 0
TIFFANY & CO NEW COM 886547108 19,360 193,122 SH   SOLE   192,722 400 0
TOTAL SYS SERV INC COM 891906109 214 6,819 SH   SOLE   6,819 0 0
ULTRA PETROLEUM CORP COM 903914109 273 9,200 SH   SOLE   9,200 0 0
UNITED PARCEL SVC COM 911312106 1,488 14,497 SH   SOLE   14,497 0 0
UNITED TECHNOLOGIES CP COM 913017109 1,211 10,487 SH   SOLE   10,487 0 0
US BANCORP DEL COM 902973304 1,203 27,769 SH   SOLE   27,769 0 0
VIACOM INC CL B NEW COM 925524308 201 2,323 SH   SOLE   2,323 0 0
VORNADO REALTY TRUST COM 929042109 25,125 235,404 SH   SOLE   234,654 750 0
WAL-MART STORES INC COM 931142103 25,899 345,002 SH   SOLE   343,902 1,100 0
WELLS FARGO & CO COM 949746101 29,193 555,430 SH   SOLE   552,680 2,750 0
WESTERN UNION CO COM 959802109 342 19,700 SH   SOLE   19,700 0 0
WHOLE FOODS MARKET, INC. COM 966837106 669 17,310 SH   SOLE   17,310 0 0
WINTRUST FINANCIAL CORP COM 97650w108 1,937 42,098 SH   SOLE   42,098 0 0
WYNN RESORTS LTD COM 983134107 30,095 144,993 SH   SOLE   144,593 400 0