D'Orazio & Associates 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

OMB APPROVAL

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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
1/100 Berkshire Htwy Cl A	COM	084670108	205	100	SH		SOLE		0	0	100
3M	COM	88579Y101	109	702	SH		SOLE		0	0	702
A C N B Corp	COM	000868109	6	264	SH		SOLE		0	0	264
AFLAC Inc	COM	001055102	1	7	SH		SOLE		0	0	7
Altria Group	COM	02209S103	80	1,630	SH		SOLE		0	0	1,630
Amazon Com Inc	COM	023135106	95	218	SH		SOLE		0	0	218
Ambev SA ADR	ADR	02319V103	8	1,250	SH		SOLE		0	0	1,250
American Electric Power	COM	025537101	40	745	SH		SOLE		0	0	745
American Express Company	COM	025816109	56	719	SH		SOLE		0	0	719
American Intl Group Inc	COM	026874107	7	108	SH		SOLE		0	0	108
American Int'l Group Inc. Warr	COM	026874156	2	57	SH		SOLE		0	0	57
Amgen Incorporated	COM	031162100	258	1,680	SH		SOLE		0	0	1,680
Anadarko Petroleum Corp	COM	032511107	10	116	SH		SOLE		0	0	116
Apache Corporation	COM	037411105	34	574	SH		SOLE		0	0	574
Apple Inc.	COM	037833100	676	5,389	SH		SOLE		0	0	5,389
Arch Cap Group Ltd New	COM	G0450A105	121	1,800	SH		SOLE		0	0	1,800
AT&T, Inc. New	COM	00206R102	154	4,308	SH		SOLE		0	0	4,308
Avon Products Inc.	COM	054303102	2	274	SH		SOLE		0	0	274
Baidu, Inc. ADR	ADR	056752108	60	300	SH		SOLE		0	0	300
Bankamerica Corp	COM	060505104	9	500	SH		SOLE		0	0	500
Barrick Gold Corp.	COM	067901108	14	1,300	SH		SOLE		0	0	1,300
BB&T Corporation	COM	054937107	116	2,861	SH		SOLE		0	0	2,861
Berkshire Hathaway Cl B	COM	084670207	19,010	139,665	SH		SOLE		0	0	139,665
BHP Billiton, Ltd ADR	ADR	088606108	4	86	SH		SOLE		0	0	86
Boeing Corporation	COM	097023105	66	470	SH		SOLE		0	0	470
Booz Allen Hamilton	COM	099502106	24,305	962,934	SH		SOLE		0	0	962,934
BP PLC ADR	ADR	055622104	195	4,860	SH		SOLE		0	0	4,860
Bristol-Myers Squibb Co.	COM	110122108	34	500	SH		SOLE		0	0	500
Canon, Inc. ADR	ADR	138006309	5	154	SH		SOLE		0	0	154
Capital One Financial	COM	14040H105	40	447	SH		SOLE		0	0	447
Cardinal Financial Corp	COM	14149F109	7	318	SH		SOLE		0	0	318
Caterpillar Inc.	COM	149123101	60	700	SH		SOLE		0	0	700
Centurytel Inc	COM	156700106	6	175	SH		SOLE		0	0	175
ChevronTexaco Corp	COM	166764100	303	3,139	SH		SOLE		0	0	3,139
Ciena Corp	COM	171779101	2	70	SH		SOLE		0	0	70
Cisco Systems Inc.	COM	17275R102	31	1,100	SH		SOLE		0	0	1,100
Citigroup	COM	172967101	35	625	SH		SOLE		0	0	625
Cobalt Int'l Energy, Inc.	COM	19075F106	10	1,000	SH		SOLE		0	0	1,000
Coca-Cola Company	COM	191216100	142	3,604	SH		SOLE		0	0	3,604
Cognizant Tech Sol Cl A	COM	192446102	50	816	SH		SOLE		0	0	816
Comcast Corp New Cl A	COM	20030N101	28	451	SH		SOLE		0	0	451
Conocophillips	COM	20825C104	140	2,277	SH		SOLE		0	0	2,277
Consol Edison Co. of NY	COM	209115104	175	3,020	SH		SOLE		0	0	3,020
Corning Inc.	COM	219350105	21	1,025	SH		SOLE		0	0	1,025
Costco Whsl Corp New	COM	22160K105	14	100	SH		SOLE		0	0	100
Cray Inc.	COM	225223106	11	362	SH		SOLE		0	0	362
Cree Research Inc	COM	225447101	4	120	SH		SOLE		0	0	120
CVS Corp Del	COM	126650100	68	640	SH		SOLE		0	0	640
Deere & Co	COM	244199105	13	125	SH		SOLE		0	0	125
Dominion Resources VA	COM	25746U109	164	2,453	SH		SOLE		0	0	2,453
Dow Chemical Company	COM	260543103	37	709	SH		SOLE		0	0	709
Dresser-Rand Group, Inc.	COM	261608103	43	500	SH		SOLE		0	0	500
Du Pont E.I. De Nemour&Co	COM	263534109	32	500	SH		SOLE		0	0	500
Duke Energy Corp.	COM	26441C204	40	567	SH		SOLE		0	0	567
E M C Corp Mass	COM	268648102	30	1,125	SH		SOLE		0	0	1,125
Eaton Corporation PLC	COM	G29183103	8	108	SH		SOLE		0	0	108
Ebay Inc	COM	278642103	13	200	SH		SOLE		0	0	200
Edison International Com	COM	281020107	20	350	SH		SOLE		0	0	350
Eli Lilly & Company	COM	532457108	57	683	SH		SOLE		0	0	683
Emerson Electric Co.	COM	291011104	88	1,586	SH		SOLE		0	0	1,586
Enbridge, Inc.	COM	29250N105	192	4,095	SH		SOLE		0	0	4,095
ETFS Physical Platinum Trust	COM	26922V101	1,578	15,141	SH		SOLE		0	0	15,141
ETFS Physical White Metal Bask	COM	26923B104	5	150	SH		SOLE		0	0	150
Eversource Solutions, Inc.	COM	30040W108	45	983	SH		SOLE		0	0	983
Exelon Corporation	COM	30161N101	15	465	SH		SOLE		0	0	465
Express Scripts	COM	30219G108	96	1,074	SH		SOLE		0	0	1,074
ExxonMobil Corporation	COM	30231G102	457	5,483	SH		SOLE		0	0	5,483
Facebook, Inc.	COM	30303M102	18	200	SH		SOLE		0	0	200
Fed-Ex Corporation	COM	31428X106	5	25	SH		SOLE		0	0	25
Fidelity MSCI Utilities ETF	COM	316092865	3	100	SH		SOLE		0	0	100
First Trust Morningstar Divide	COM	336917109	25	1,071	SH		SOLE		0	0	1,071
Ford Motor	COM	345370860	35	2,269	SH		SOLE		0	0	2,269
Frontier Communictions Corp Co	COM	35906A108	3	474	SH		SOLE		0	0	474
Fuelcell Energy Inc	COM	35952H106	1	1,000	SH		SOLE		0	0	1,000
FutureFuel Corp	COM	36116M106	70	5,401	SH		SOLE		0	0	5,401
Gabelli Utility Trust	COM	36240A101	5	820	SH		SOLE		0	0	820
General Electric Co.	COM	369604103	477	17,934	SH		SOLE		0	0	17,934
General Motors	COM	37045V100	34	1,000	SH		SOLE		0	0	1,000
Gilead Sciences Inc	COM	375558103	131	1,113	SH		SOLE		0	0	1,113
Gladstone Capital Corp.	COM	376535100	36	4,454	SH		SOLE		0	0	4,454
GlaxoSmithKline PLC ADR	ADR	37733W105	9	200	SH		SOLE		0	0	200
Goldcorp, Inc.	COM	380956409	5	250	SH		SOLE		0	0	250
Google Inc Class A	COM	38259P508	209	400	SH		SOLE		0	0	400
Griffon Corp	COM	398433102	2	110	SH		SOLE		0	0	110
Guggenheim Timber ETF	COM	18383Q879	288	11,290	SH		SOLE		0	0	11,290
HCP Inc.	COM	40414L109	16,236	445,173	SH		SOLE		0	0	445,173
HDFC Bank Ltd ADR	ADR	40415F101	61	1,000	SH		SOLE		0	0	1,000
Hercules Technology Growth Cap	COM	427096508	4	300	SH		SOLE		0	0	300
Hess Corporation	COM	42809H107	21	300	SH		SOLE		0	0	300
Hewlett-Packard Company	COM	428236103	61	2,017	SH		SOLE		0	0	2,017
Home Depot Inc.	COM	437076102	28	250	SH		SOLE		0	0	250
Honeywell International	COM	438516106	148	1,448	SH		SOLE		0	0	1,448
Host Marriott Corp	COM	44107P104	15	750	SH		SOLE		0	0	750
Humana Inc	COM	444859102	20	100	SH		SOLE		0	0	100
Hyster-Yale Materials Handling	COM	449172105	21	300	SH		SOLE		0	0	300
Iamgold Corporation	COM	450913108	4	2,000	SH		SOLE		0	0	2,000
IBM	COM	459200101	407	2,501	SH		SOLE		0	0	2,501
Intel Corp	COM	458140100	75	2,453	SH		SOLE		0	0	2,453
iShares Floating Rate Bond	COM	46429B655	13	250	SH		SOLE		0	0	250
Ishares Global Timber & Forest	COM	464288174	2,052	39,038	SH		SOLE		0	0	39,038
iShares Gold Trust	COM	464285105	65	5,700	SH		SOLE		0	0	5,700
iShares GSSI Natural Resources	COM	464287374	60	1,627	SH		SOLE		0	0	1,627
iShares Lehman TIPS	COM	464287176	227	2,020	SH		SOLE		0	0	2,020
iShares MSCI Canada Index ETF	COM	464286509	4	123	SH		SOLE		0	0	123
iShares MSCI Hong Kong Index E	COM	464286871	5	213	SH		SOLE		0	0	213
iShares MSCI New Zealand Invst	COM	464289123	5	132	SH		SOLE		0	0	132
iShares MSCI Poland Invstb Mkt	COM	46429B606	3	115	SH		SOLE		0	0	115
iShares MSCI Singapore Index E	COM	464286673	4	286	SH		SOLE		0	0	286
iShares MSCI South Korea Index	COM	464286772	4	71	SH		SOLE		0	0	71
iShares S&P 500 US PFD	COM	464288687	1,771	45,206	SH		SOLE		0	0	45,206
iShares Silver Trust	COM	46428Q109	154	10,200	SH		SOLE		0	0	10,200
JDS Uniphase Corporation	COM	46612J507	2	92	SH		SOLE		0	0	92
Johnson & Johnson	COM	478160104	752	7,713	SH		SOLE		0	0	7,713
JP Morgan Chase & Co.	COM	46625H100	33	479	SH		SOLE		0	0	479
Kinder Morgan, Inc.	COM	49456B101	699	18,185	SH		SOLE		0	0	18,185
Kraft Foods Group Inc.	COM	50076Q106	37	433	SH		SOLE		0	0	433
Krispy Kreme Doughnut Cp	COM	501014104	8	400	SH		SOLE		0	0	400
L-3 Communications Hldgs	COM	502424104	12	100	SH		SOLE		0	0	100
Lionbridge Technologies, Inc.	COM	536252109	4	572	SH		SOLE		0	0	572
Lockheed Martin Corp.	COM	539830109	432	2,320	SH		SOLE		0	0	2,320
Lowes Companies Inc	COM	548661107	177	2,632	SH		SOLE		0	0	2,632
Marathon Petroleum Corp.	COM	56585A102	5	94	SH		SOLE		0	0	94
Market Vectors EM Local Curr B	COM	57060U522	5	225	SH		SOLE		0	0	225
Market Vectors Gold Miners ETF	COM	57060U100	11	600	SH		SOLE		0	0	600
Market Vectors Junior Gold Min	COM	57061R544	23	912	SH		SOLE		0	0	912
Marriott International	COM	571903202	251	3,367	SH		SOLE		0	0	3,367
Marriott Vacations Worldwide C	COM	57164Y107	58	631	SH		SOLE		0	0	631
McDonalds Corporation	COM	580135101	50	525	SH		SOLE		0	0	525
Merck & Co.	COM	58933Y105	27	467	SH		SOLE		0	0	467
Metlife Inc	COM	59156R108	57	1,009	SH		SOLE		0	0	1,009
Microsoft Corporation	COM	594918104	365	8,264	SH		SOLE		0	0	8,264
Microstrategy Inc A New	COM	594972408	2	9	SH		SOLE		0	0	9
Mondelez Int'l Inc.	COM	609207105	54	1,302	SH		SOLE		0	0	1,302
Motorola Solutions Inc.	COM	620076307	19	321	SH		SOLE		0	0	321
NACCO Industries, Inc.	COM	629579103	19	300	SH		SOLE		0	0	300
National Grid Transco ADR	ADR	636274300	28	419	SH		SOLE		0	0	419
New York Community Bancorp, In	COM	649445103	3	112	SH		SOLE		0	0	112
Nike, Inc. Class B	COM	654106103	119	1,096	SH		SOLE		0	0	1,096
Nokia ADR	ADR	654902204	2	200	SH		SOLE		0	0	200
Norfolk Southern Corp	COM	655844108	88	1,000	SH		SOLE		0	0	1,000
Novartis AG ADR	ADR	66987V109	36	363	SH		SOLE		0	0	363
Nuance Commun Inc	COM	67020Y100	13	700	SH		SOLE		0	0	700
Oasis Petroleum, Inc.	COM	674215108	18	1,090	SH		SOLE		0	0	1,090
Occidental Petroleum Corp.	COM	674599105	4	50	SH		SOLE		0	0	50
Oracle Corporation	COM	68389X105	147	3,647	SH		SOLE		0	0	3,647
Orbital ATK, Inc.	COM	68557N103	42	570	SH		SOLE		0	0	570
Pall Corp.	COM	696429307	55	439	SH		SOLE		0	0	439
Panera Bread Co Inc Class A	COM	69840W108	18	100	SH		SOLE		0	0	100
PepsiCo Inc.	COM	713448108	55	586	SH		SOLE		0	0	586
Petrobras Argentina SA ADR	ADR	71646J109	11	1,636	SH		SOLE		0	0	1,636
Pfizer Incorporated	COM	717081103	91	2,704	SH		SOLE		0	0	2,704
Philip Morris Int'l Inc.	COM	718172109	234	2,917	SH		SOLE		0	0	2,917
Phillips 66	COM	718546104	46	564	SH		SOLE		0	0	564
Phoenix Companies New	COM	71902E604	1	22	SH		SOLE		0	0	22
Piedmont Natural Gas Co	COM	720186105	54	1,505	SH		SOLE		0	0	1,505
PIMCO 1-5 Year US TIPS Index E	COM	72201R205	4,303	82,399	SH		SOLE		0	0	82,399
PIMCO Total Return ETF	COM	72201R775	971	9,072	SH		SOLE		0	0	9,072
Plug Power Inc	COM	72919P202	3	1,000	SH		SOLE		0	0	1,000
Plum Creek Timber Co	COM	729251108	1,052	25,909	SH		SOLE		0	0	25,909
Potash Corporation of Saskatch	COM	73755L107	3	78	SH		SOLE		0	0	78
PowerShares DB Gold	COM	73936B606	58	1,500	SH		SOLE		0	0	1,500
PowerShares QQQ ETF	COM	73935A104	132	1,228	SH		SOLE		0	0	1,228
PP&L Resources	COM	69351T106	81	2,731	SH		SOLE		0	0	2,731
Principal Financial Grp	COM	74251V102	81	1,575	SH		SOLE		0	0	1,575
Procter & Gamble Company	COM	742718109	175	2,234	SH		SOLE		0	0	2,234
Prospect Capital Corporation C	COM	74348T102	17	2,250	SH		SOLE		0	0	2,250
Prudential Financial Inc	COM	744320102	3	33	SH		SOLE		0	0	33
Qep Resources, Inc.	COM	74733V100	12	601	SH		SOLE		0	0	601
Qualcomm Inc	COM	747525103	13	200	SH		SOLE		0	0	200
Quest Diagnostic Inc	COM	74834L100	21	276	SH		SOLE		0	0	276
Questar Corporation	COM	748356102	31	1,435	SH		SOLE		0	0	1,435
Rayonier Advanced Materials, I	COM	75508B104	88	5,358	SH		SOLE		0	0	5,358
Rayonier Inc	COM	754907103	418	16,322	SH		SOLE		0	0	16,322
Realty Income Corp.	COM	756109104	13	292	SH		SOLE		0	0	292
Republic Bancorp, Inc. Class A	COM	760281204	71	2,730	SH		SOLE		0	0	2,730
Roper Industries Inc.	COM	776696106	37	209	SH		SOLE		0	0	209
Rowe T Price Assoc Inc	COM	74144T108	16	200	SH		SOLE		0	0	200
Royal Caribbean Cruises Ltd	COM	V7780T103	8	100	SH		SOLE		0	0	100
Royal Dutch Shell ADR	ADR	780259206	23	386	SH		SOLE		0	0	386
Rydex CurrencyShares Australia	COM	23129U101	18	228	SH		SOLE		0	0	228
Rydex CurrencyShares Canadian	COM	23129X105	19	232	SH		SOLE		0	0	232
Rydex CurrencyShares Swiss Fra	COM	23129V109	138	1,326	SH		SOLE		0	0	1,326
Saul Centers, Inc.	COM	804395101	50	1,000	SH		SOLE		0	0	1,000
Schlumberger Ltd.	COM	806857108	39	450	SH		SOLE		0	0	450
SeaDrill Ltd	COM	G7945E105	4	300	SH		SOLE		0	0	300
Seadrill Partners LLC	COM	Y7545W109	3	200	SH		SOLE		0	0	200
Seagate Technology	COM	G7945M107	48	1,000	SH		SOLE		0	0	1,000
Simon Debartolo Group	COM	828806109	36	207	SH		SOLE		0	0	207
Sirius Satellite Radio	COM	82968B103	2	400	SH		SOLE		0	0	400
Sony Corp. ADR	ADR	835699307	1	11	SH		SOLE		0	0	11
Sotherly Hotels Inc Com	COM	83600C103	8	997	SH		SOLE		0	0	997
SPDR Barclays S-T Hi Yld Bond	COM	78468R408	9,648	333,719	SH		SOLE		0	0	333,719
SPDR Dow Jones REIT ETF	COM	78464A607	246	2,906	SH		SOLE		0	0	2,906
SPDR S&P Regional Banking ETF	COM	78464A698	56	1,250	SH		SOLE		0	0	1,250
SPDR TRUST Unit SR	COM	78462F103	54	260	SH		SOLE		0	0	260
Spectra Energy	COM	84756N109	20	590	SH		SOLE		0	0	590
Sprott Physical Silver Trust E	COM	85207K107	4	500	SH		SOLE		0	0	500
Stanley Black & Decker, Inc.	COM	854502101	76	715	SH		SOLE		0	0	715
Starbucks Corp.	COM	855244109	161	3,000	SH		SOLE		0	0	3,000
Streetracks Gold TRUST - ETF	COM	78463V107	17,890	159,200	SH		SOLE		0	0	159,200
Symantec Corp	COM	871503108	24	1,000	SH		SOLE		0	0	1,000
Sysco Corporation	COM	871829107	2	30	SH		SOLE		0	0	30
Talen Energy Corp	COM	87422J105	6	339	SH		SOLE		0	0	339
Taubman Centers Inc.	COM	876664103	35	500	SH		SOLE		0	0	500
TD Ameritrade Hldg Corp	COM	87236Y108	4	100	SH		SOLE		0	0	100
Templeton Global Incm Fd	COM	880198106	8	1,025	SH		SOLE		0	0	1,025
Tesla Motors, Inc.	COM	88160R101	14	50	SH		SOLE		0	0	50
Teva Pharm Inds Ltd ADR	ADR	881624209	20	338	SH		SOLE		0	0	338
The Southern Company	COM	842587107	17	400	SH		SOLE		0	0	400
Time Warner Cable	COM	88732J207	249	1,394	SH		SOLE		0	0	1,394
Time Warner Inc.	COM	887317303	469	5,365	SH		SOLE		0	0	5,365
Time, Inc.	COM	887228104	15	623	SH		SOLE		0	0	623
Toronto-Dominion Bank	COM	891160509	11	250	SH		SOLE		0	0	250
Toyota Motor Cp ADR Newf	ADR	892331307	27	200	SH		SOLE		0	0	200
TriplePoint Venture Growth BDC	COM	89677Y100	3	200	SH		SOLE		0	0	200
Twitter Inc	COM	90184L102	11	300	SH		SOLE		0	0	300
United Continental Holdings In	COM	910047109	11	200	SH		SOLE		0	0	200
United Healthcare Group	COM	91324P102	1,850	15,162	SH		SOLE		0	0	15,162
United Parcel Service B	COM	911312106	10	100	SH		SOLE		0	0	100
United Technologies Corp	COM	913017109	134	1,200	SH		SOLE		0	0	1,200
USG Corp	COM	903293405	12	400	SH		SOLE		0	0	400
Vanguard Consumer Staples ETF	COM	92204A207	6,993	55,987	SH		SOLE		0	0	55,987
Vanguard Energy ETF	COM	92204A306	9,110	85,180	SH		SOLE		0	0	85,180
Vanguard Financials ETF	COM	92204A405	20	402	SH		SOLE		0	0	402
Vanguard Health Care ETF	COM	92204A504	3,562	25,443	SH		SOLE		0	0	25,443
Vanguard Materials ETF	COM	92204A801	65	600	SH		SOLE		0	0	600
Vanguard Mid-Cap ETF	COM	922908629	20	155	SH		SOLE		0	0	155
Vanguard S&P 500 ETF	COM	922908363	211	1,117	SH		SOLE		0	0	1,117
Vanguard Small Cap ETF	COM	922908751	33	268	SH		SOLE		0	0	268
Vanguard Utilities ETF	COM	92204A876	13,688	152,218	SH		SOLE		0	0	152,218
Verisign Inc	COM	92343EAD4	6	85	SH		SOLE		0	0	85
Verizon Communications	COM	92343V104	133	2,833	SH		SOLE		0	0	2,833
VOC Energy Trust	COM	91829B103	12	2,100	SH		SOLE		0	0	2,100
Vodafone Group PLC ADR	ADR	92857W100	8	197	SH		SOLE		0	0	197
Wal-Mart Stores Inc.	COM	931142103	97	1,358	SH		SOLE		0	0	1,358
Walt Disney Company	COM	254687106	77	667	SH		SOLE		0	0	667
Waste Management Inc.	COM	94106L109	42	900	SH		SOLE		0	0	900
Wells Fargo & Co.	COM	949746101	14	245	SH		SOLE		0	0	245
Western Asset Claymore Infl-ln	COM	95766R104	17	1,500	SH		SOLE		0	0	1,500
Whole Foods Market Inc	COM	966837106	31	783	SH		SOLE		0	0	783
Wisconsin Energy Corp.	COM	976657106	46	1,010	SH		SOLE		0	0	1,010
WisdomTree International Small	COM	97717W760	217	3,595	SH		SOLE		0	0	3,595
Yahoo! Inc	COM	984332106	16	400	SH		SOLE		0	0	400
Zoetis Inc	COM	98978V103	1	15	SH		SOLE		0	0	15