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
ADVANCE AUTO PARTS INC COM 00751y106 5,927 46,855 SH   SOLE   46,855 0 0
ALTRIA GROUP INC COM 02209S103 335 8,950 SH   SOLE   8,950 0 0
AMERICAN INTL GROUP INC COM 026874784 20,225 404,420 SH   SOLE   404,420 0 0
AT&T INC COM 00206r102 253 7,213 SH   SOLE   7,213 0 0
BANK OF AMERICA CORPORATION COM 060505104 6,191 359,945 SH   SOLE   359,945 0 0
BANK NEW YORK MELLON CORP COM 064058100 266 7,546 SH   SOLE   7,546 0 0
Benchmark Bankshares COM 08160E207 1,494 65,182 SH   SOLE   65,182 0 0
BERKLEY W R CORP COM 084423102 9,718 233,500 SH   SOLE   233,500 0 0
BERKSHIRE HATHAWAY INC DEL COM 084670702 12,253 98,047 SH   SOLE   98,047 0 0
CHEVRON CORP NEW COM 166764100 479 4,027 SH   SOLE   4,027 0 0
COCA COLA CO COM 191216100 357 9,243 SH   SOLE   9,243 0 0
DOMINION RES INC VA NEW COM 25746u109 386 5,434 SH   SOLE   5,434 0 0
EVERBANK FINL CORP COM 29977g102 296 15,000 SH   SOLE   15,000 0 0
EXELON CORP COM 30161n101 374 11,132 SH   SOLE   11,132 0 0
EXXON MOBIL CORP COM 30231g102 489 5,009 SH   SOLE   5,009 0 0
Fannie Mae COM 313586109 546 140,000 SH   SOLE   140,000 0 0
Freddie Mac COM 313400301 637 165,000 SH   SOLE   165,000 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671d857 289 8,752 SH   SOLE   8,752 0 0
GOLDMAN SACHS GROUP INC COM 38141g104 1,122 6,849 SH   SOLE   6,849 0 0
GOOGLE INC COM 38259p508 15,943 14,305 SH   SOLE   14,305 0 0
High Point Bank COM 429706104 940 7,963 SH   SOLE   7,963 0 0
HOWARD HUGHES CORP COM 44267d107 9,019 63,200 SH   SOLE   63,200 0 0
Imperial Metals COM 452892102 1,609 125,000 SH   SOLE   125,000 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 1,361 7,069 SH   SOLE   7,069 0 0
JOHNSON & JOHNSON COM 478160104 3,338 33,981 SH   SOLE   33,981 0 0
JPMORGAN CHASE & CO COM 46625h100 1,306 21,510 SH   SOLE   21,510 0 0
LEUCADIA NATL CORP COM 527288104 574 20,502 SH   SOLE   20,502 0 0
METRO BANCORP INC PA COM 59161r101 2,122 100,395 SH   SOLE   100,395 0 0
MICROSOFT CORP COM 594918104 15,791 385,230 SH   SOLE   385,230 0 0
NEXTERA ENERGY INC COM 65339f101 242 2,534 SH   SOLE   2,534 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 200 2,100 SH   SOLE   2,100 0 0
PHILIP MORRIS INTL INC COM 718172109 693 8,461 SH   SOLE   8,461 0 0
PROCTER & GAMBLE CO COM 742718109 344 4,263 SH   SOLE   4,263 0 0
RANGE RES CORP CALL 01/15/16 70 75281A109 1,850 22,300 SH   SOLE   22,300 0 0
RANGE RES CORP CALL 01/17/15 75 75281A109 11,616 140,000 SH   SOLE   140,000 0 0
REPUBLIC FIRST BANCORP INC COM 760416107 9,486 2,463,894 SH   SOLE   2,463,894 0 0
SOUTHERN CO COM 842587107 461 10,482 SH   SOLE   10,482 0 0
VALEANT PHARMACEUTICALS INTL COM 91911k102 5,273 40,000 SH   SOLE   40,000 0 0
VISTAPRINT N V COM n93540107 7,841 159,300 SH   SOLE   159,300 0 0
WELLS FARGO & CO NEW COM 949746101 9,232 185,603 SH   SOLE   185,603 0 0
WHITE MTNS INS GROUP LTD COM g9618e107 840 1,400 SH   SOLE   1,400 0 0
BANK OF AMERICA CORPORATION *W EXP 01/16/201 060505146 2,484 302,200 SH   SOLE   302,200 0 0
WELLS FARGO & CO NEW *W EXP 10/28/201 949746119 1,864 100,000 SH   SOLE   100,000 0 0