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
AT&T COM 00206r102 254 7,213 SH   SOLE   7,213 0 0
Advance Auto Parts COM 00751y106 5,308 47,955 SH   SOLE   47,955 0 0
Altria Group COM 022095103 344 8,950 SH   SOLE   8,950 0 0
American Intl Group COM 026874784 22,037 431,670 SH   SOLE   431,670 0 0
Bank Of NY Mellon COM 064058100 264 7,546 SH   SOLE   7,546 0 0
Bank of America COM 060505104 6,383 409,945 SH   SOLE   409,945 0 0
Benchmark Bankshares COM 08160e207 1,203 53,124 SH   SOLE   53,124 0 0
Berkley W R COM 084423102 12,336 284,300 SH   SOLE   284,300 0 0
Berkshire Hthwy CL B COM 084670207 11,835 99,822 SH   SOLE   99,822 0 0
Chevron COM 166764100 503 4,027 SH   SOLE   4,027 0 0
Coca Cola COM 191216100 382 9,243 SH   SOLE   9,243 0 0
Dominion Res COM 25746u109 352 5,434 SH   SOLE   5,434 0 0
Everbank Financial COM 29977g102 275 15,000 SH   SOLE   15,000 0 0
Exelon COM 30161n101 305 11,132 SH   SOLE   11,132 0 0
Exxon Mobil COM 30231g102 507 5,009 SH   SOLE   5,009 0 0
Freeport McMoran COM 35671d857 330 8,752 SH   SOLE   8,752 0 0
Goldman Sachs Group COM 38141g104 1,595 8,999 SH   SOLE   8,999 0 0
Google COM 38259p508 16,037 14,310 SH   SOLE   14,310 0 0
High Point Bank COM 429706104 772 7,963 SH   SOLE   7,963 0 0
Homefed COM 43739d307 549 14,990 SH   SOLE   14,990 0 0
Howard Hughes COM 44267d107 7,951 66,200 SH   SOLE   66,200 0 0
Imperial Metals COM 452892102 2,253 150,000 SH   SOLE   150,000 0 0
Intl Business Machines COM 459200101 1,326 7,069 SH   SOLE   7,069 0 0
JP Morgan Chase COM 46625h100 1,258 21,510 SH   SOLE   21,510 0 0
Johnson & Johnson COM 478160104 3,263 35,627 SH   SOLE   35,627 0 0
Leucadia National COM 527288104 581 20,502 SH   SOLE   20,502 0 0
Metro Bancorp COM 59161r101 1,803 83,700 SH   SOLE   83,700 0 0
Microsoft COM 594918104 14,449 386,230 SH   SOLE   386,230 0 0
Nextera Energy COM 65339f101 217 2,534 SH   SOLE   2,534 0 0
Philip Morris Intl COM 718172109 737 8,461 SH   SOLE   8,461 0 0
Procter & Gamble COM 742718109 347 4,263 SH   SOLE   4,263 0 0
Republic First Bancorp COM 760416107 7,627 2,559,394 SH   SOLE   2,559,394 0 0
Target COM 87612e106 1,398 22,100 SH   SOLE   22,100 0 0
The Southern Co COM 842587107 431 10,482 SH   SOLE   10,482 0 0
Valeant Pharmaceuticals COM 91911k102 5,870 50,000 SH   SOLE   50,000 0 0
VistaPrint COM n93540107 9,056 159,300 SH   SOLE   159,300 0 0
Wells Fargo COM 949746101 8,472 186,603 SH   SOLE   186,603 0 0
White Mountain COM g9618e107 844 1,400 SH   SOLE   1,400 0 0
Willis Group Holdings COM g96666105 704 15,700 SH   SOLE   15,700 0 0
CALL CHK 01/18/14 15 CHE CALL 8BSKZW3 970 800 SH   SOLE   800 0 0
CALL CHK 01/18/14 18 CHE CALL 8BTBJD9 915 1,000 SH   SOLE   1,000 0 0
CALL CHK 01/18/14 20 CHE CALL 8BSKZW5 858 1,200 SH   SOLE   1,200 0 0
Call RRC 01/17/15 75 CALL 8BXFGV4 1,085 700 SH   SOLE   700 0 0
Wts Bnk of America Cl A WARRANT 060505146 1,955 302,200 SH   SOLE   302,200 0 0
WTS WELLS FARGO & CO NEW WARRANT 949746119 1,590 100,000 SH   SOLE   100,000 0 0