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
AbbVie Inc COM 00287Y109 4,477 108,300 SH   SOLE   104,950 0 3,350
Abbott Laboratories COM 002824100 4,182 119,895 SH   SOLE   116,350 0 3,545
Agnico-Eagle Mines Ltd COM 008474108 1,322 48,020 SH   SOLE   46,865 0 1,155
American International Group COM 026874784 7,727 172,855 SH   SOLE   167,990 0 4,865
Becton Dickinson & Co Com COM 075887109 3,464 35,048 SH   SOLE   33,953 0 1,095
Berkshire Hathaway-B COM 084670702 25,354 226,535 SH   SOLE   219,495 0 7,040
CVS Caremark Corp. COM 126650100 2,960 51,770 SH   SOLE   50,170 0 1,600
Central Fund Of Canada COM 153501101 13,097 963,010 SH   SOLE   936,110 0 26,900
Chesapeake Energy Corporation COM 165167107 4,461 218,896 SH   SOLE   212,411 0 6,485
Chevron Corporation COM 166764100 2,028 17,139 SH   SOLE   15,959 0 1,180
Conocophillips COM 20825C104 2,274 37,584 SH   SOLE   36,164 0 1,420
Crimson Wine COM 22662x100 113 13,306 SH   SOLE   12,860 0 446
DirecTV COM 25490A309 2,579 41,845 SH   SOLE   40,625 0 1,220
Fairfax Financial Holdings Lim COM 303901102 2,417 6,197 SH   SOLE   6,028 0 169
Golden Star Resources Ltd COM 38119T104 5 11,000 SH   SOLE   11,000 0 0
Johnson & Johnson COM 478160104 11,686 136,108 SH   SOLE   132,233 0 3,875
Laboratory Corporation of Amer COM 50540R409 2,005 20,028 SH   SOLE   19,363 0 665
Leucadia National Corp COM 527288104 3,404 129,823 SH   SOLE   125,558 0 4,265
Markel Corp Holding Company COM 570535104 3,220 6,110 SH   SOLE   5,899 0 211
Market Vectors Gold Miners Etf COM 57060U100 17,662 721,202 SH   SOLE   701,427 0 19,775
Medtronic Inc COM 585055106 7,418 144,123 SH   SOLE   139,783 0 4,340
Merck & Co Inc COM 58933Y105 4,855 104,517 SH   SOLE   101,547 0 2,970
Microsoft Corp COM 594918104 13,234 383,095 SH   SOLE   371,930 0 11,165
Newmont Mining Corp COM 651639106 16,286 543,763 SH   SOLE   528,148 0 15,615
Pan American Silver Corp COM 697900108 6,285 539,937 SH   SOLE   525,267 0 14,670
Pfizer Incorporated COM 717081103 6,168 220,198 SH   SOLE   213,713 0 6,485
Phillips 66 COM 718546104 1,245 21,128 SH   SOLE   20,460 0 668
Plum Creek Timber Reit COM 729251108 695 14,895 SH   SOLE   13,480 0 1,415
Transocean Inc Ord COM H8817H100 2,070 43,165 SH   SOLE   41,915 0 1,250
Wal-Mart Stores Inc COM 931142103 8,770 117,729 SH   SOLE   115,249 0 2,480
Weight Watchers Intl Com COM 948626106 1,726 37,515 SH   SOLE   36,435 0 1,080