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 3,613 24,135 SH   SOLE   24,135 0 0
ALTRIA GROUP INC COM 02209s103 448 8,950 SH   SOLE   8,950 0 0
AMBASSADORS GROUP INC COM 023177108 506 200,000 SH   SOLE   200,000 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 15,803 288,420 SH   SOLE   288,420 0 0
AT&T INC COM 00206r102 236 7,213 SH   SOLE   7,213 0 0
BANK OF AMERICA CL A *W EXP 01/16/2019 060505146 1,627 277,200 SH   SOLE   277,200 0 0
BANK NEW YORK MELLON CORP COM 064058100 304 7,546 SH   SOLE   7,546 0 0
BENCHMARK BANKSHARES COM 08160e207 1,545 130,364 SH   SOLE   130,364 0 0
BERKLEY W R CORP COM 084423102 10,981 217,400 SH   SOLE   217,400 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 13,598 94,222 SH   SOLE   94,222 0 0
CARDINAL BANKSHARES COM 141478107 85 10,000 SH   SOLE   10,000 0 0
CHEVRON CORP NEW COM 166764100 423 4,027 SH   SOLE   4,027 0 0
CIMPRESS N V SHS EURO n20146101 13,092 155,160 SH   SOLE   155,160 0 0
CLOROX CO DEL COM 189054109 202 1,834 SH   SOLE   1,834 0 0
COCA COLA CO COM 191216100 375 9,243 SH   SOLE   9,243 0 0
DOMINION RES INC VA NEW COM 25746u109 385 5,434 SH   SOLE   5,434 0 0
ECHO GLOBAL LOGISTICS INC COM 27875t101 2,726 100,000 SH   SOLE   100,000 0 0
EVERBANK FINL CORP COM 29977g102 243 13,500 SH   SOLE   13,500 0 0
EXELON CORP COM 30161n101 374 11,132 SH   SOLE   11,132 0 0
EXXON MOBIL CORP COM 30231g102 426 5,009 SH   SOLE   5,009 0 0
GOOGLE INC CL A 38259p508 7,860 14,170 SH   SOLE   14,170 0 0
GOOGLE INC CL C 38259p706 6,680 12,190 SH   SOLE   12,190 0 0
HIGH POINT BANK COM 429706104 1,411 8,063 SH   SOLE   8,063 0 0
HOMEFED COM 43739d307 502 10,963 SH   SOLE   10,963 0 0
HOWARD HUGHES CORP COM 44267d107 8,712 56,200 SH   SOLE   56,200 0 0
IMPERIAL METALS COM 452892102 13,929 1,434,500 SH   SOLE   1,434,500 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 1,022 6,369 SH   SOLE   6,369 0 0
JOHNSON & JOHNSON COM 478160104 307 3,052 SH   SOLE   3,052 0 0
JPMORGAN CHASE & CO COM 46625h100 1,303 21,510 SH   SOLE   21,510 0 0
LEUCADIA NATL CORP COM 527288104 553 24,803 SH   SOLE   24,803 0 0
MICROSOFT CORP COM 594918104 11,437 281,330 SH   SOLE   281,330 0 0
MONDELEZ INTL INC CL A 609207105 202 5,588 SH   SOLE   5,588 0 0
NEXTERA ENERGY INC COM 65339f101 264 2,534 SH   SOLE   2,534 0 0
PHILIP MORRIS INTL INC COM 718172109 637 8,461 SH   SOLE   8,461 0 0
PROCTER & GAMBLE CO COM 742718109 349 4,263 SH   SOLE   4,263 0 0
RANGE RES CORP COM 75281a109 1,150 22,100 SH   SOLE   22,100 0 0
REPUBLIC FIRST BANCORP INC COM 760416107 9,573 3,426,568 SH   SOLE   3,426,568 0 0
STAR BULK CARRIERS CORP SHS NEW y8162k121 726 200,000 SH   SOLE   200,000 0 0
SOUTHERN CO COM 842587107 464 10,482 SH   SOLE   10,482 0 0
VALEANT PHARMACEUTICALS INTL COM 91911k102 16,823 84,700 SH   SOLE   84,700 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 212 2,500 SH   SOLE   2,500 0 0
WELLS FARGO & CO NEW COM 949746101 9,753 179,278 SH   SOLE   179,278 0 0
WHITE MTNS INS GROUP LTD COM g9618e107 958 1,400 SH   SOLE   1,400 0 0
WELLS FARGO & CO NEW *W EXP 10/28/2018 949746119 2,049 100,000 SH   SOLE   100,000 0 0