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

                                    Form 13F

                              Form 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: September 30, 2011

Check here if Amendment [  ]; Amendment Number:
This Amendment (Check only one.): [  ] is a restatement.
                                  [  ] adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:    Shayne & Co., LLC
Address: 4015 Hillsboro Pike, Suite 203
         Nashville, TN  37215

13F File Number:  028-13793

The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:

Name:      Jonathan A. Shayne
Title:     President and Chief Manager
Phone:     (615) 250-1600

Signature, Place, and Date of Signing:

 /s/ Jonathan A. Shayne     Nashville, TN     October 17, 2011

Report Type (Check only one.):

[ X]         13F HOLDINGS REPORT.

[  ]         13F NOTICE.

[  ]         13F COMBINATION REPORT.



                              FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers:         0

Form 13F Information Table Entry Total:    28

Form 13F Information Table Value Total:    $87,756 (thousands)

List of Other Included Managers:

Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional managers with respect to which this report is filed, other
than the manager filing this report.

NONE



             
                                                     FORM 13F INFORMATION TABLE
                                                             VALUE  SHARES/ SH/ PUT/ INVSTMT  OTHER            VOTING AUTHORITY
NAME OF ISSUER                 TITLE OF CLASS   CUSIP     (x$1000)  PRN AMT PRN CALL DSCRETN MANAGERS         SOLE   SHARED     NONE
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
ABBOTT LABS                    COM              002824100      221     4316 SH       OTHER                    2316        0     2000
AMERICAN EXPRESS CO            COM              025816109       36      800 SH       OTHER                     800        0        0
AMERICAN EXPRESS CO            COM              025816109     2453    54641 SH       SOLE                    45986        0     8655
ASTRAZENECA PLC                SPONSORED ADR    046353108      222     5000 SH       OTHER                    5000        0        0
AUTOMATIC DATA PROCESSING IN   COM              053015103       14      300 SH       OTHER                     300        0        0
AUTOMATIC DATA PROCESSING IN   COM              053015103     1085    23018 SH       SOLE                    21118        0     1900
BANK OF AMERICA CORPORATION    COM              060505104      102    16647 SH       OTHER                    6047        0    10600
BANK OF AMERICA CORPORATION    COM              060505104        8     1250 SH       SOLE                     1250        0        0
BERKSHIRE HATHAWAY INC DEL     CL A             084670108     5874       55 SH       SOLE                       55        0        0
BERKSHIRE HATHAWAY INC DEL     CL B NEW         084670702      166     2333 SH       OTHER                    2333        0        0
BERKSHIRE HATHAWAY INC DEL     CL B NEW         084670702    18853   265381 SH       SOLE                   241014        0    24367
EXXON MOBIL CORP               COM              30231G102      297     4095 SH       OTHER                    4095        0        0
GENERAL ELECTRIC CO            COM              369604103      170    11160 SH       OTHER                    5160        0     6000
HEARTLAND EXPRESS INC          COM              422347104     8562   631395 SH       SOLE                   570870        0    60525
MICROSOFT CORP                 COM              594918104      199     7983 SH       SOLE                     7983        0        0
MICROSOFT CORP                 COM              594918104      207     8329 SH       OTHER                    8329        0        0
PHILIP MORRIS INTL INC         COM              718172109      514     8233 SH       OTHER                    7533        0      700
PHILIP MORRIS INTL INC         COM              718172109      191     3067 SH       SOLE                     3067        0        0
SIGMA ALDRICH CORP             COM              826552101    13057   211312 SH       SOLE                   195077        0    16235
SYSCO CORP                     COM              871829107        9      350 SH       OTHER                       0        0      350
SYSCO CORP                     COM              871829107    11680   450965 SH       SOLE                   414745        0    36220
TECH DATA CORP                 COM              878237106     5029   116321 SH       SOLE                   106578        0     9743
TJX COS INC NEW                COM              872540109      928    16733 SH       OTHER                   16733        0        0
U S G CORP                     COM NEW          903293405        7     1000 SH       OTHER                    1000        0        0
U S G CORP                     COM NEW          903293405     1579   234612 SH       SOLE                   213767        0    20845
VANGUARD INDEX FDS             TOTAL STK MKT    922908769    15739   272675 SH       SOLE                   250208        0    22467
WAL MART STORES INC            COM              931142103      492     9487 SH       SOLE                     7987        0     1500
WAL MART STORES INC            COM              931142103       62     1204 SH       OTHER                    1204        0        0