Sterling Investment Management 13F-HR Quarterly holdings report by institutional manager

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

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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
ALTRIA GROUP	COM	02209S103	5,336	106,681	SH		SOLE		0	0	106,681
AMERICAN INTERNATIONAL GROUP	COM NEW	26874784	2,307	42,100	SH		SOLE		0	0	42,100
ANHEUSER BUSCH CO INC	SPONSORED ADR	03524A108	2,833	23,235	SH		SOLE		0	0	23,235
ANTHEM INC	COM	36752103	3,339	21,624	SH		SOLE		0	0	21,624
AON PLC	SHS CL A	G0408V102	1,224	12,735	SH		SOLE		0	0	12,735
APPLE INC	COM	37833100	6,204	49,856	SH		SOLE		0	0	49,856
BANK OF AMERICA	COM	60505104	2,585	167,946	SH		SOLE		0	0	167,946
BERKSHIRE HATHAWAY INC DEL	CL B	84670702	9,041	62,644	SH		SOLE		0	0	62,644
BERKSHIRE HATHAWAY INC DEL	CL A	84670108	5,003	23	SH		SOLE		0	0	23
CVS CAREMARK CORPORATION	COM	126650100	2,799	27,121	SH		SOLE		0	0	27,121
CATERPILLAR INC DEL	COM	149123101	664	8,300	SH		SOLE		0	0	8,300
CHESAPEAKE ENERGY CORP	COM	165167107	6,999	494,285	SH		SOLE		0	0	494,285
CHINA MOBILE LIMITED	SPONSORED ADR	16941M109	2,009	30,901	SH		SOLE		0	0	30,901
CISCO SYS INC	COM	17275R102	4,128	149,982	SH		SOLE		0	0	149,982
CITIGROUP INC	COM NEW	172967424	2,840	55,129	SH		SOLE		0	0	55,129
COMCAST CORP CLASS A	CL A	20030N101	4,432	78,486	SH		SOLE		0	0	78,486
DANAHER CORP DEL	COM	235851102	562	6,619	SH		SOLE		0	0	6,619
DIAMOND OFFSHORE DRILLING	COM	25271C102	258	9,635	SH		SOLE		0	0	9,635
EMC CORPORATION MASS	COM	268648102	2,704	105,790	SH		SOLE		0	0	105,790
ENBRIDGE ENERGY MANAGEMENT LLC	SHS UNITS LLI	29250X103	1,156	31,778	SH		SOLE		0	0	31,778
ENBRIDGE ENERGY PARTNERS L P	COM	29250R106	1,218	33,824	SH		SOLE		0	0	33,824
ENSCO PLC	SHS CLASS A	G3157S106	2,347	111,374	SH		SOLE		0	0	111,374
EXXON MOBIL CORP	COM	30231G102	351	4,128	SH		SOLE		0	0	4,128
EZ CORP INC	CL A NON VTG	302301106	1,041	113,980	SH		SOLE		0	0	113,980
FLY LEASING LTD	SPONSORED ADR	34407D109	709	48,707	SH		SOLE		0	0	48,707
FOOT LOCKER INC	COM	344849104	1,620	25,710	SH		SOLE		0	0	25,710
FREEPORT MCMORAN INC	CL B	35671D857	2,091	110,330	SH		SOLE		0	0	110,330
GOLDMAN SACHS GROUP INC	COM	38141G104	3,250	17,292	SH		SOLE		0	0	17,292
GOOGLE INC	CL A	38259P508	1,821	3,282	SH		SOLE		0	0	3,282
GOOGLE INC	CL C	38259P706	1,499	2,735	SH		SOLE		0	0	2,735
HILLENBRAND INC	COM	431571108	330	10,696	SH		SOLE		0	0	10,696
HILL ROM HLDGS INC	COM	431475102	720	14,700	SH		SOLE		0	0	14,700
ICONIX BRAND GROUP INC	COM	451055107	1,265	37,570	SH		SOLE		0	0	37,570
INTERDIGITAL INC	COM	45867G101	1,192	23,492	SH		SOLE		0	0	23,492
INTERNATIONAL BUSINESS MACHS	COM	459200101	246	1,530	SH		SOLE		0	0	1,530
IRIDIUM COMMUNICATIONS INC.	COM	46269C102	1,305	134,354	SH		SOLE		0	0	134,354
ISHARES DOW JONES US TECHNOLOGY	US TECH ETF	464287721	371	3,538	SH		SOLE		0	0	3,538
KINDER MORGAN INC DEL	COM	49456B101	2,738	65,091	SH		SOLE		0	0	65,091
LANDS END INC NEW	COM	51509F105	327	9,121	SH		SOLE		0	0	9,121
LINNCO LLC	COMSHS LTD INT	535782106	129	13,525	SH		SOLE		0	0	13,525
LINN ENERGY LLC	UNIT LTD LIAB	536020100	120	10,852	SH		SOLE		0	0	10,852
MARVELL TECHNOLOGY GROUP LTD	ORD	G5876H105	649	44,160	SH		SOLE		0	0	44,160
MERCK & CO INC	COM	58933Y105	203	3,531	SH		SOLE		0	0	3,531
MICROSOFT CORP	COM	594918104	6,016	147,971	SH		SOLE		0	0	147,971
NEW ORIENTAL ED & TECH GRP	SPON ADR	647581107	867	39,125	SH		SOLE		0	0	39,125
NOBLE CORP PLC	SHS USD	G65431901	248	17,385	SH		SOLE		0	0	17,385
OAKTREE CAPITAL GROUP LLC	UNIT CL A	674001201	1,608	31,120	SH		SOLE		0	0	31,120
OCCIDENTAL PETE CORP DEL	COM	674599105	3,758	51,481	SH		SOLE		0	0	51,481
OREXIGEN THERAPEUTICS INC	COM	686164104	118	15,025	SH		SOLE		0	0	15,025
PFIZER INC	COM	717081103	3,405	97,882	SH		SOLE		0	0	97,882
PHILIP MORRIS INTL INC	COM	718172109	3,719	49,375	SH		SOLE		0	0	49,375
PLUM CREEK TIMBER CO INC	COM	729251108	1,978	45,519	SH		SOLE		0	0	45,519
POTLATCH HOLDINGS, INC.	COM	737630103	242	6,050	SH		SOLE		0	0	6,050
POWERSHARES	EMER MK 50 ADR	09348R300	425	12,216	SH		SOLE		0	0	12,216
PROCTER & GAMBLE CO	COM	742718109	281	3,430	SH		SOLE		0	0	3,430
QUALCOMM INC	COM	747525103	2,757	39,766	SH		SOLE		0	0	39,766
RAYONIER INC	COM	754907103	272	10,077	SH		SOLE		0	0	10,077
RYANAIR HLDGS PLC	SPONSORED ADR	783513104	2,455	36,772	SH		SOLE		0	0	36,772
SEADRILL LIMITED	SHS	G7945E105	633	67,670	SH		SOLE		0	0	67,670
SEARS CDA INC	COM	81234D109	102	11,110	SH		SOLE		0	0	11,110
SEARS HLDGS CORP	COM	812350106	1,247	30,135	SH		SOLE		0	0	30,135
SEVENTY SEVEN ENERGY	COM	818097107	2,332	561,876	SH		SOLE		0	0	561,876
SOHU COM INC	COM	83408W103	680	12,760	SH		SOLE		0	0	12,760
SPDR GOLD TRUST	GOLD SHS	78463V107	2,424	21,326	SH		SOLE		0	0	21,326
TAIWAN SEMICONDUCTOR	SPONSORED ADR	874039100	692	29,464	SH		SOLE		0	0	29,464
THE ADT CORPORATION	COM	00101J106	2,861	68,908	SH		SOLE		0	0	68,908
TIVO INC	COM	888706108	590	55,655	SH		SOLE		0	0	55,655
TRANSOCEAN LTD	REG SHS	H8817H100	165	11,240	SH		SOLE		0	0	11,240
UNITEDHEALTH GROUP INC	COM	91324P102	2,250	19,019	SH		SOLE		0	0	19,019
VERIZON COMMUNICATIONS	COM	92343V104	2,842	58,433	SH		SOLE		0	0	58,433
VODAFONE GROUP PLC NEW	SPNSR ADR NO PAR	92857W308	1,092	33,420	SH		SOLE		0	0	33,420
WAL MART STORES INC	COM	931142103	3,384	41,139	SH		SOLE		0	0	41,139
WEYERHAEUSER CO	COM	962166104	205	6,180	SH		SOLE		0	0	6,180