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
3M	COM	88579Y101	95	702	SH		SOLE		0	0	702
A C N B Corp	COM	000868109	5	264	SH		SOLE		0	0	264
Aberdeen Asia-Pacific Income C	COM	003009107	15	2,500	SH		SOLE		0	0	2,500
AFLAC Inc	COM	001055102	0	7	SH		SOLE		0	0	7
Agilent Technologies Inc	COM	00846U101	13	240	SH		SOLE		0	0	240
Altria Group	COM	02209S103	46	1,230	SH		SOLE		0	0	1,230
Amazon Com Inc	COM	023135106	40	118	SH		SOLE		0	0	118
Ambev SA ADR	ADR	02319V103	9	1,250	SH		SOLE		0	0	1,250
American Electric Power	COM	025537101	38	745	SH		SOLE		0	0	745
American Express Company	COM	025816109	65	719	SH		SOLE		0	0	719
American Intl Group Inc	COM	026874107	5	108	SH		SOLE		0	0	108
American Int'l Group Inc. Warr	*W EXP 01/19/202	026874156	1	57	SH		SOLE		0	0	57
Amgen Incorporated	COM	031162100	195	1,580	SH		SOLE		0	0	1,580
Anadarko Petroleum Corp	COM	032511107	10	116	SH		SOLE		0	0	116
Anglogold Ashanti ADR	ADR	035128206	2	102	SH		SOLE		0	0	102
AOL, Inc.	COM	00184X105	3	71	SH		SOLE		0	0	71
Apache Corporation	COM	037411105	12	141	SH		SOLE		0	0	141
Apple Inc.	COM	037833100	165	308	SH		SOLE		0	0	308
Arch Cap Group Ltd New	COM	G0450A105	104	1,800	SH		SOLE		0	0	1,800
Aruba Networks, Inc.	COM	043176106	2	100	SH		SOLE		0	0	100
AT&T, Inc. New	COM	00206R102	170	4,851	SH		SOLE		0	0	4,851
Avery Dennison Corp	COM	053611109	12	234	SH		SOLE		0	0	234
Avon Products Inc.	COM	054303102	4	274	SH		SOLE		0	0	274
Bankamerica Corp	COM	060505104	9	500	SH		SOLE		0	0	500
Barrick Gold Corp.	COM	067901108	25	1,399	SH		SOLE		0	0	1,399
Baytex Energy Corporation	COM	07317Q105	41	1,000	SH		SOLE		0	0	1,000
BB&T Corporation	COM	054937107	113	2,811	SH		SOLE		0	0	2,811
Berkshire Hathaway Cl B	COM	084670207	18,278	146,260	SH		SOLE		0	0	146,260
Berkshire Hathaway Inc Class A	COM	084670108	187	100	SH		SOLE		0	0	100
BHP Billiton, Ltd ADR	ADR	088606108	6	86	SH		SOLE		0	0	86
Bioelectronics Corp	COM	09062H108	0	5,000	SH		SOLE		0	0	5,000
Blackrock Muni Income	COM	09249N101	19	1,342	SH		SOLE		0	0	1,342
Boeing Corporation	COM	097023105	34	270	SH		SOLE		0	0	270
Booz Allen Hamilton	COM	099502106	17,730	805,932	SH		SOLE		0	0	805,932
BP PLC ADR	ADR	055622104	224	4,660	SH		SOLE		0	0	4,660
Bristol-Myers Squibb Co.	COM	110122108	26	500	SH		SOLE		0	0	500
BroadVision Inc. New	COM	111412706	1	100	SH		SOLE		0	0	100
Canon, Inc. ADR	ADR	138006309	5	154	SH		SOLE		0	0	154
Capital One Financial	COM	14040H105	34	447	SH		SOLE		0	0	447
Cardinal Financial Corp	COM	14149F109	6	318	SH		SOLE		0	0	318
Caterpillar Inc.	COM	149123101	70	700	SH		SOLE		0	0	700
Centurytel Inc	COM	156700106	6	175	SH		SOLE		0	0	175
ChevronTexaco Corp	COM	166764100	257	2,159	SH		SOLE		0	0	2,159
Cisco Systems Inc.	COM	17275R102	10	450	SH		SOLE		0	0	450
Citigroup	COM	172967101	25	530	SH		SOLE		0	0	530
Cobalt Int'l Energy, Inc.	COM	19075F106	18	1,000	SH		SOLE		0	0	1,000
Coca-Cola Company	COM	191216100	241	6,241	SH		SOLE		0	0	6,241
Comcast Corp New Cl A	COM	20030N101	13	268	SH		SOLE		0	0	268
Conocophillips	COM	20825C104	81	1,158	SH		SOLE		0	0	1,158
Consol Edison Co. of NY	COM	209115104	154	2,877	SH		SOLE		0	0	2,877
Contango Oil & Gas Co.	COM	21075N204	11	225	SH		SOLE		0	0	225
Contango Ore Inc.	COM	21077F100	0	22	SH		SOLE		0	0	22
Corning Inc.	COM	219350105	32	1,534	SH		SOLE		0	0	1,534
Corporate Universe, Inc	COM	22004M101	0	3,902	SH		SOLE		0	0	3,902
Costco Whsl Corp New	COM	22160K105	11	100	SH		SOLE		0	0	100
Cray Inc.	COM	225223106	14	362	SH		SOLE		0	0	362
Cree Research Inc	COM	225447101	7	120	SH		SOLE		0	0	120
CVS Corp Del	COM	126650100	49	650	SH		SOLE		0	0	650
Deere & Co	COM	244199105	16	175	SH		SOLE		0	0	175
Diamonds TRUST Series I	COM	252787106	11	70	SH		SOLE		0	0	70
Diebold Inc.	COM	253651103	0	3	SH		SOLE		0	0	3
Dominion Resources VA	COM	25746U109	174	2,452	SH		SOLE		0	0	2,452
Dow Chemical Company	COM	260543103	34	709	SH		SOLE		0	0	709
Dresser-Rand Group, Inc.	COM	261608103	29	500	SH		SOLE		0	0	500
Du Pont E.I. De Nemour&Co	COM	263534109	34	500	SH		SOLE		0	0	500
Duke Energy Corp.	COM	26441C204	40	563	SH		SOLE		0	0	563
E M C Corp Mass	COM	268648102	31	1,125	SH		SOLE		0	0	1,125
Eaton Corporation PLC	COM	G29183103	8	108	SH		SOLE		0	0	108
Edison International Com	COM	281020107	57	1,000	SH		SOLE		0	0	1,000
Eli Lilly & Company	COM	532457108	40	676	SH		SOLE		0	0	676
Emerson Electric Co.	COM	291011104	106	1,586	SH		SOLE		0	0	1,586
Enbridge, Inc.	COM	29250N105	806	17,720	SH		SOLE		0	0	17,720
EPAM Systems Inc	COM	29414B104	3	100	SH		SOLE		0	0	100
Ericsson Tel Adr B New	ADR	294821608	21	1,600	SH		SOLE		0	0	1,600
ETFS Physical Platinum Trust	COM	26922V101	3,494	25,447	SH		SOLE		0	0	25,447
Exelon Corporation	COM	30161N101	16	465	SH		SOLE		0	0	465
Express Scripts	COM	30219G108	138	1,839	SH		SOLE		0	0	1,839
ExxonMobil Corporation	COM	30231G102	516	5,280	SH		SOLE		0	0	5,280
Fed-Ex Corporation	COM	31428X106	3	25	SH		SOLE		0	0	25
First Trust Morningstar Divide	COM	336917109	24	1,071	SH		SOLE		0	0	1,071
Fluor Corporation	COM	343412102	87	1,115	SH		SOLE		0	0	1,115
Ford Motor	COM	345370860	32	2,033	SH		SOLE		0	0	2,033
FPL Group Incorporated	COM	302571104	62	650	SH		SOLE		0	0	650
Freeport McMorn Cp&Gld B	COM	35671D857	4	112	SH		SOLE		0	0	112
Frontier Communictions Corp Co	COM	35906A108	1	255	SH		SOLE		0	0	255
Fuel Systems Solutions, Inc.	COM	35952W103	2	200	SH		SOLE		0	0	200
FutureFuel Corp	COM	36116M106	150	7,398	SH		SOLE		0	0	7,398
Gabelli Utility Trust	COM	36240A101	6	819	SH		SOLE		0	0	819
General Electric Co.	COM	369604103	447	17,257	SH		SOLE		0	0	17,257
Gladstone Capital Corp.	COM	376535100	48	4,800	SH		SOLE		0	0	4,800
GlaxoSmithKline PLC ADR	ADR	37733W105	11	200	SH		SOLE		0	0	200
Goldcorp, Inc.	COM	380956409	24	1,000	SH		SOLE		0	0	1,000
Griffon Corp	COM	398433102	1	110	SH		SOLE		0	0	110
Guggenheim S&P 500 Equal Wtd	COM	40167M106	7,864	109,309	SH		SOLE		0	0	109,309
Guggenheim Timber ETF	COM	18383Q879	83	3,273	SH		SOLE		0	0	3,273
Halliburton Co Hldg Co	COM	406216101	3	50	SH		SOLE		0	0	50
HCP Inc.	COM	40414L109	23,593	612,872	SH		SOLE		0	0	612,872
Hess Corporation	COM	42809H107	25	300	SH		SOLE		0	0	300
Hewlett-Packard Company	COM	428236103	65	2,017	SH		SOLE		0	0	2,017
Honeywell International	COM	438516106	116	1,248	SH		SOLE		0	0	1,248
Host Marriott Corp	COM	44107P104	15	750	SH		SOLE		0	0	750
Hyster-Yale Materials Handling	COM	449172105	29	300	SH		SOLE		0	0	300
IBM	COM	459200101	539	2,800	SH		SOLE		0	0	2,800
Idacorp, Inc.	COM	451107106	55	1,000	SH		SOLE		0	0	1,000
Imperial Oil Ltd.	COM	453038408	31	675	SH		SOLE		0	0	675
Intel Corp	COM	458140100	54	2,103	SH		SOLE		0	0	2,103
Invesco Adv. Municipal Income	COM	46132E103	4	394	SH		SOLE		0	0	394
Invesco Bond Fund	COM	920955101	5	248	SH		SOLE		0	0	248
Invesco Credit Opportunities	COM	46132R104	5	373	SH		SOLE		0	0	373
Invesco High Income Trust II	COM	46131F101	4	272	SH		SOLE		0	0	272
Invesco Investment Grade Muni	COM	920929106	9	685	SH		SOLE		0	0	685
Invesco Municipal Opportunity	COM	920935103	4	360	SH		SOLE		0	0	360
Invesco Municipal Trust	COM	920919107	4	360	SH		SOLE		0	0	360
Invesco Sr. Income Trust	COM	920961109	4	896	SH		SOLE		0	0	896
iShares Dow Jones Int'l Select	COM	464288448	53	1,377	SH		SOLE		0	0	1,377
iShares Gold Trust	COM	464285105	71	5,700	SH		SOLE		0	0	5,700
iShares GSSI Natural Resources	COM	464287374	17	393	SH		SOLE		0	0	393
iShares IBoxx $ Invest Grade C	COM	464287242	15	128	SH		SOLE		0	0	128
iShares Lehman TIPS	COM	464287176	226	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	4	213	SH		SOLE		0	0	213
iShares MSCI New Zealand Invst	COM	464289123	6	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	2,708	69,379	SH		SOLE		0	0	69,379
iShares Silver Trust	COM	46428Q109	195	10,250	SH		SOLE		0	0	10,250
Johnson & Johnson	COM	478160104	806	8,209	SH		SOLE		0	0	8,209
JP Morgan Chase & Co.	COM	46625H100	29	479	SH		SOLE		0	0	479
Kinder Morgan Energy LP	COM	494550106	3,359	45,646	SH		SOLE		0	0	45,646
Kinross Gold Corp.	COM	496902404	14	3,500	SH		SOLE		0	0	3,500
Kraft Foods Group Inc.	COM	50076Q106	26	456	SH		SOLE		0	0	456
Krispy Kreme Doughnut Cp	COM	501014104	7	400	SH		SOLE		0	0	400
Lionbridge Technologies, Inc.	COM	536252109	4	572	SH		SOLE		0	0	572
Lockheed Martin Corp.	COM	539830109	24	147	SH		SOLE		0	0	147
Lowes Companies Inc	COM	548661107	119	2,432	SH		SOLE		0	0	2,432
Manulife Financial Corp	COM	56501R106	6	290	SH		SOLE		0	0	290
Marathon Petroleum Corp.	COM	56585A102	8	94	SH		SOLE		0	0	94
Market Vectors EM Local Curr B	COM	57060U522	34	1,425	SH		SOLE		0	0	1,425
Market Vectors Gold Miners ETF	COM	57060U100	12	500	SH		SOLE		0	0	500
Market Vectors Junior Gold Min	COM	57061R544	33	912	SH		SOLE		0	0	912
Marriott International	COM	571903202	211	3,774	SH		SOLE		0	0	3,774
Marriott Vacations Worldwide C	COM	57164Y107	35	631	SH		SOLE		0	0	631
McDonalds Corporation	COM	580135101	51	525	SH		SOLE		0	0	525
Medbox Inc	COM	58405D100	3	100	SH		SOLE		0	0	100
MediSwipe Inc	COM	58500H204	7	15,000	SH		SOLE		0	0	15,000
Merck & Co.	COM	58933Y105	26	467	SH		SOLE		0	0	467
Merrill Lynch Preferred Capita	COM	59021F206	3	100	SH		SOLE		0	0	100
Metlife Inc	COM	59156R108	11	217	SH		SOLE		0	0	217
Microsoft Corporation	COM	594918104	336	8,199	SH		SOLE		0	0	8,199
Microstrategy Inc A New	COM	594972408	1	9	SH		SOLE		0	0	9
Mondelez Int'l Inc.	COM	609207105	47	1,371	SH		SOLE		0	0	1,371
Monsanto Co New Del	COM	61166W101	7	58	SH		SOLE		0	0	58
Motorola Solutions Inc.	COM	620076307	16	250	SH		SOLE		0	0	250
NACCO Industries, Inc.	COM	629579103	16	300	SH		SOLE		0	0	300
National Grid Transco ADR	ADR	636274300	28	406	SH		SOLE		0	0	406
New York Community Bancorp, In	COM	649445103	2	112	SH		SOLE		0	0	112
Nike, Inc. Class B	COM	654106103	44	596	SH		SOLE		0	0	596
Noble Energy Inc	COM	655044105	10	138	SH		SOLE		0	0	138
Norfolk Southern Corp	COM	655844108	95	976	SH		SOLE		0	0	976
Northpoint Commun Group	COM	666610100	18	160	SH		SOLE		0	0	160
Novartis AG ADR	ADR	66987V109	31	363	SH		SOLE		0	0	363
Nuance Commun Inc	COM	67020Y100	12	700	SH		SOLE		0	0	700
Nuveen MD Premium Income Muni	COM	67061Q107	20	1,632	SH		SOLE		0	0	1,632
Oasis Petroleum, Inc.	COM	674215108	42	1,000	SH		SOLE		0	0	1,000
Oracle Corporation	COM	68389X105	80	1,965	SH		SOLE		0	0	1,965
Orbital Sciences Corp	COM	685564106	35	1,272	SH		SOLE		0	0	1,272
Pall Corp.	COM	696429307	39	439	SH		SOLE		0	0	439
Pembina Pipeline Corp	COM	706327103	2	63	SH		SOLE		0	0	63
PepsiCo Inc.	COM	713448108	49	586	SH		SOLE		0	0	586
Petrobras Argentina SA ADR	ADR	71646J109	9	1,636	SH		SOLE		0	0	1,636
Pfizer Incorporated	COM	717081103	94	2,927	SH		SOLE		0	0	2,927
Philip Morris Int'l Inc.	COM	718172109	218	2,664	SH		SOLE		0	0	2,664
Phillips 66	COM	718546104	63	816	SH		SOLE		0	0	816
Phoenix Companies New	COM	71902E604	1	22	SH		SOLE		0	0	22
PIMCO 1-5 Year US TIPS Index E	COM	72201R205	4,156	78,503	SH		SOLE		0	0	78,503
PIMCO Total Return ETF	COM	72201R775	1,168	11,051	SH		SOLE		0	0	11,051
Plum Creek Timber Co	COM	729251108	3,583	85,694	SH		SOLE		0	0	85,694
Potash Corporation of Saskatch	COM	73755L107	3	78	SH		SOLE		0	0	78
PowerShares DB Gold	COM	73936B606	65	1,500	SH		SOLE		0	0	1,500
PowerShares QQQ ETF	COM	631100104	103	1,170	SH		SOLE		0	0	1,170
PP&L Resources	COM	69351T106	56	1,699	SH		SOLE		0	0	1,699
Principal Financial Grp	COM	74251V102	92	2,000	SH		SOLE		0	0	2,000
Procter & Gamble Company	COM	742718109	183	2,276	SH		SOLE		0	0	2,276
Prudential Financial Inc	COM	744320102	4	47	SH		SOLE		0	0	47
Qep Resources, Inc.	COM	74733V100	18	601	SH		SOLE		0	0	601
Quest Diagnostic Inc	COM	74834L100	16	276	SH		SOLE		0	0	276
Questar Corporation	COM	748356102	34	1,435	SH		SOLE		0	0	1,435
Rayonier Inc	COM	754907103	2,666	58,369	SH		SOLE		0	0	58,369
Republic Bancorp, Inc. Class A	COM	760281204	62	2,730	SH		SOLE		0	0	2,730
Right Royal Dutch Shell	COM	780259107	42	1,161	SH		SOLE		0	0	1,161
Rockwell Intl Corp New	COM	773903109	4	36	SH		SOLE		0	0	36
Roper Industries Inc.	COM	776696106	28	209	SH		SOLE		0	0	209
Rowe T Price Assoc Inc	COM	74144T108	16	200	SH		SOLE		0	0	200
Royal Dutch Shell ADR	ADR	780259206	28	386	SH		SOLE		0	0	386
Royce Micro-Cap Trust	COM	780915104	30	2,418	SH		SOLE		0	0	2,418
Rydex CurrencyShares Australia	COM	23129U101	21	228	SH		SOLE		0	0	228
Rydex CurrencyShares Canadian	COM	23129X105	21	232	SH		SOLE		0	0	232
Rydex CurrencyShares Swiss Fra	COM	23129V109	147	1,326	SH		SOLE		0	0	1,326
Saul Centers, Inc.	COM	804395101	47	1,000	SH		SOLE		0	0	1,000
Schlumberger Ltd.	COM	806857108	44	450	SH		SOLE		0	0	450
Seagate Technology	COM	G7945M107	56	1,000	SH		SOLE		0	0	1,000
Simon Debartolo Group	COM	828806109	34	207	SH		SOLE		0	0	207
Sirius Satellite Radio	COM	82968B103	1	400	SH		SOLE		0	0	400
Sony Corp. ADR	ADR	835699307	0	11	SH		SOLE		0	0	11
Sotherly Hotels Inc Com	COM	83600C103	3	500	SH		SOLE		0	0	500
SPDR Dow Jones REIT ETF	COM	78464A607	65	831	SH		SOLE		0	0	831
SPDR S&P Regional Banking ETF	COM	78464A698	52	1,250	SH		SOLE		0	0	1,250
Spectra Energy	COM	84756N109	40	1,079	SH		SOLE		0	0	1,079
Spyglass Resources Corp.	COM	852193101	0	23	SH		SOLE		0	0	23
Stanley Black & Decker, Inc.	COM	854502101	58	715	SH		SOLE		0	0	715
Starbucks Corp.	COM	855244109	103	1,400	SH		SOLE		0	0	1,400
Streetracks Gold TRUST - ETF	COM	78463V107	11,204	91,516	SH		SOLE		0	0	91,516
Suburban Propane Partners LP	COM	864482104	6	151	SH		SOLE		0	0	151
Sun Hung Kai Pptys Adr	ADR	86676H302	2	149	SH		SOLE		0	0	149
Symantec Corp	COM	871503108	20	1,000	SH		SOLE		0	0	1,000
Sysco Corporation	COM	871829107	1	30	SH		SOLE		0	0	30
Taubman Centers Inc.	COM	876664103	35	500	SH		SOLE		0	0	500
Templeton Global Incm Fd	COM	880198106	28	3,525	SH		SOLE		0	0	3,525
Teva Pharm Inds Ltd ADR	ADR	881624209	18	338	SH		SOLE		0	0	338
The Southern Company	COM	842587107	18	400	SH		SOLE		0	0	400
Time Warner Cable	COM	88732J207	183	1,336	SH		SOLE		0	0	1,336
Time Warner Inc.	COM	887317303	335	5,132	SH		SOLE		0	0	5,132
Toronto-Dominion Bank	COM	891160509	12	250	SH		SOLE		0	0	250
Travelers Companies Inc.	COM	89417E109	7	86	SH		SOLE		0	0	86
United Healthcare Group	COM	91324P102	1,246	15,202	SH		SOLE		0	0	15,202
United Parcel Service B	COM	911312106	10	100	SH		SOLE		0	0	100
United Technologies Corp	COM	913017109	164	1,400	SH		SOLE		0	0	1,400
USX-Marathon Group	COM	565849106	7	189	SH		SOLE		0	0	189
Vanguard Energy ETF	COM	92204A306	71	555	SH		SOLE		0	0	555
Vanguard Financials ETF	COM	92204A405	18	402	SH		SOLE		0	0	402
Vanguard Mid-Cap ETF	COM	922908629	18	155	SH		SOLE		0	0	155
Vanguard S&P 500 ETF	COM	922908363	187	1,090	SH		SOLE		0	0	1,090
Vanguard Small Cap ETF	COM	922908751	30	268	SH		SOLE		0	0	268
Vanguard Utilities ETF	COM	92204A876	12,456	138,253	SH		SOLE		0	0	138,253
Verisign Inc	COM	92343E102	9	170	SH		SOLE		0	0	170
Verizon Communications	COM	92343V104	102	2,146	SH		SOLE		0	0	2,146
VOC Energy Trust	COM	91829B103	18	1,250	SH		SOLE		0	0	1,250
Vodafone Group PLC ADR	ADR	92857W100	7	190	SH		SOLE		0	0	190
Wal-Mart Stores Inc.	COM	931142103	85	1,110	SH		SOLE		0	0	1,110
Walt Disney Company	COM	254687106	53	667	SH		SOLE		0	0	667
Waste Management Inc.	COM	94106L109	38	900	SH		SOLE		0	0	900
Wells Fargo & Co.	COM	949746101	12	245	SH		SOLE		0	0	245
Western Asset Claymore Infl-ln	COM	95766R104	17	1,500	SH		SOLE		0	0	1,500
Western Union Co.	COM	959802109	3	200	SH		SOLE		0	0	200
Whole Foods Market Inc	COM	966837106	40	783	SH		SOLE		0	0	783
Wisconsin Energy Corp.	COM	976657106	33	710	SH		SOLE		0	0	710
WisdomTree International Small	COM	97717W760	234	3,595	SH		SOLE		0	0	3,595
Yahoo! Inc	COM	984332106	14	400	SH		SOLE		0	0	400
Zoetis Inc	COM	98978V103	0	15	SH		SOLE		0	0	15