UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: 12/31/2009
Check here if Amendment []; Amendment Number: This Amendment (Check only one.): [] is a restatement.
[] adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name: Iwamoto Kong & Co., Inc.

Address: 19200 VON KARMAN AVE, SUITE 1030
IRVINE, CALIFORNIA 92612

Form 13F File Number:

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

Persons Signing this Report on Behalf of Reporting Manager: 

Name: Benjamin Lau
Title: Portfolio Manager
Phone: (949)-253-8888

Signature, Place, and Date of Signing: 

/s/ Benjamin Lau IRVINE, CALIFORNIA 2/1/2010
--------------------------------- --------------------------------- ----------
[Signature] [City, State] [Date]

Report Type (Check only one):

[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)

[ ] 13F NOTICE. (Check here if no holdings reported are in this report,
and all holdings are reported by other reporting manager(s).)

[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for
this reporting manager are reported in this report and a portion are
reported by other reporting manager(s).)

List of Other Managers Reporting for this Manager: 

 Form 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers: 0

Form 13F Information Table Entry Total: 466

Form 13F Information Table Value Total: $ 149,661
 --------------
 (In Thousands)

List of Other Included Managers:

Provide a numbered list of the name(s) and 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
NONE 

 FORM 13F INFORMATION TABLE

 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 MANAGERS SOLE SHARED NONE
------------------------ -------------- --------- -------- -------- --- ---- ---------- -------- ------- ------ -------
CALL WASH MUTUAL INC cl 9393224AD 0.00 3 X 3 0 -
CALL PROSHARES TR ULTRA cl 74347R9DI 1.00 10 X 10 0 -
1/100 BERKSHIRE HTWY CLA cs 084990175 98.70 1 1 0 -
3M COMPANY cs 88579Y101 1451.64 17,302 17,252 0 50
A T & T INC NEW cs 00206R102 3745.19 132,245 112,225 0 20,020
ABBOTT LABORATORIES cs 002824100 3779.62 69,300 69,075 0 225
ABERDEEN ASIA PAC INCM cs 003009107 125.22 20,100 20,100 0 -
ACCENTURE PLC CL A F cs G1151C101 18.76 450 450 0 -
AEGON NV ORD REG AMER F cs 007924103 15.70 2,449 - 0 2,449
AGILENT TECHNOLOGIES INC cs 00846U101 121.36 3,906 - 0 3,906
ALCATEL LUCENT ADR F cs 013904305 0.56 170 170 0 -
ALCOA INC cs 013817101 7.85 481 481 0 -
ALEXANDER & BALDWIN INC cs 014482103 10.43 300 300 0 -
ALLERGAN INC cs 018490102 86.12 1,356 1,156 0 200
ALLSTATE CORPORATION cs 020002101 15.67 513 513 0 -
ALTRIA GROUP INC cs 02209S103 103.61 5,230 5,230 0 -
AMERICA MOVIL SAB L ADRF cs 02364W105 9.39 200 200 0 -
AMERICAN CAPITAL LTD cs 02503Y103 2.51 1,000 1,000 0 -
AMERICAN EXPRESS COMPANY cs 025816109 4.05 100 - 0 100
AMERITYRE CORPORATION cs 03073V107 0.66 2,000 2,000 0 -
AMGEN INCORPORATED cs 031162100 707.74 12,300 1,850 0 10,450
ANADARKO PETROLEUM CORP cs 032511107 918.82 14,720 - 0 14,720
ANGLO AMERN PLC ADS F cs 03485P201 10.29 477 477 0 -
APPLE INC cs 037833100 404.66 1,912 1,512 0 400
APPLIED MATERIALS INC cs 038222105 13.19 938 938 0 -
ARCHER-DANIELS-MIDLND CO cs 039483102 31.73 1,000 1,000 0 -
ARCSIGHT INC cs 039666102 12.90 500 500 0 -
ARENA PHARMACEUTICALS cs 040047102 1.73 500 500 0 -
ARIBA INC NEW cs 04033V203 0.03 2 2 0 -
AVANIR PHARMA INC cs 05348P401 0.24 125 125 0 -
AVERY DENNISON CORP cs 053611109 364.90 10,000 - 0 10,000
BANCO SANTANDER SA ADR F cs 05964H105 18.26 1,100 1,100 0 -
BANK OF AMERICA CORP cs 060505104 152.97 10,151 7,951 0 2,200
BANK OF NY MELLON CP NEW cs 064058100 241.92 8,634 754 0 7,880
BARCLAYS BANK IPATH ETN cs 06738C778 5.29 125 125 0 -
BARCLAYS BANK IPATH ETN cs 06739H743 2.80 100 100 0 -
BAXTER INTERNATIONAL INC cs 071813109 2806.49 47,576 47,576 0 -
BECTON DICKINSON & CO cs 075887109 1.99 25 25 0 -
BEESTON ENTERPRISES NEW cs 07712Q205 0.98 90,000 90,000 0 -
BERKSHIRE HATHAWAY CL B cs 084670207 2733.70 831 818 0 13
BHP BILLITON LTD ADR F cs 088606108 15.39 200 150 0 50
BLACKROCK CA MUN INCM TR cs 09248E105 33.19 2,507 2,507 0 -
BLACKROCK CORE BD TRUST cs 09249E104 20.21 1,700 1,700 0 -
BLACKROCK EHNCD DIV INCM cs 09251A104 15.30 1,700 1,700 0 -
BLACKROCK INC cs 09247X101 24.56 104 104 0 -
BLACKROCK INCM OPPNTY TR cs 092475102 152.03 16,400 16,400 0 -
BLACKROCK INTL GROWTH TR cs 092524107 23.58 2,019 2,019 0 -
BLACKROCK INVT QLTY MUNI cs 09247D105 43.01 3,200 3,200 0 -
BLACKROCK MUN INCOME TR cs 09248F109 25.44 2,000 2,000 0 -
BLACKROCK STRATEGC DIVID cs 09249Y107 15.92 1,740 1,740 0 -
BLDRS EMERGING MKTS cs 09348R300 0.66 15 15 0 -
BLKRCK MUNIHLDGS CA INSD cs 09254L107 12.21 973 973 0 -
BLKRCK MUNIYIELD CA INSD cs 09254N103 123.05 9,830 9,830 0 -
BOB EVANS FARMS INC cs 096761101 8.86 300 300 0 -
BOEING CO cs 097023105 186.82 3,399 599 0 2,800
BOSTON SCIENTIFIC CORP cs 101137107 1.81 200 200 0 -
BP PLC ADR F cs 055622104 66.88 1,150 1,150 0 -
BR AMER TOBACCO PLC ADRF cs 110448107 3.25 50 50 0 -
BRISTOL-MYERS SQUIBB CO cs 110122108 423.33 16,530 3,084 0 13,446
C V S CAREMARK CORP cs 126650100 387.91 11,859 7,800 0 4,059


 FORM 13F INFORMATION TABLE

 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 MANAGERS SOLE SHARED NONE
------------------------ -------------- --------- -------- -------- --- ---- ---------- -------- ------- ------ -------
CABOT CORPORATION cs 127055101 52.46 2,000 - 0 2,000
CATERPILLAR INC cs 149123101 2.90 50 50 0 -
CATHAY GENERAL BANCORP cs 149150104 75.60 10,000 10,000 0 -
CENTERPOINT ENERGY INC cs 15189T107 0.68 46 46 0 -
CHEUNG KONG HLDG ADR F cs 166744201 3.83 300 300 0 -
CHEVRON CORPORATION cs 166764100 1778.03 22,898 1,850 0 21,048
CHINA ARCHITECTURAL ENGR cs 16937S102 1.43 1,333 1,333 0 -
CIMAREX ENERGY CO cs 171798101 5.40 100 100 0 -
CINTEL CORP cs 17260A106 3.00 75,000 75,000 0 -
CISCO SYSTEMS INC cs 17275R102 182.56 7,550 7,550 0 -
CITIGROUP INC cs 172967101 17.05 5,134 5,134 0 -
CLARIENT INC cs 180489106 1.35 500 500 0 -
CLEAN ENERGY FUELS CORP cs 184499101 4.60 295 295 0 -
COACH INC cs 189754104 14.79 400 400 0 -
COCA COLA COMPANY cs 191216100 207.77 3,602 3,602 0 -
COHEN & STEERS QUALITY cs 19247L106 6.19 1,000 1,000 0 -
COHEN & STEERS SELECT FD cs 19248A109 19.12 1,200 1,200 0 -
COHEN & STEERS TOTAL cs 19247R103 59.94 6,154 6,154 0 -
COLGATE-PALMOLIVE CO cs 194162103 389.40 4,700 700 0 4,000
COMMERCE ENERGY GROUP cs 20061Q106 0.01 8,000 8,000 0 -
COMMERCEPLANET INC NEW cs 20084U209 0.01 250 250 0 -
COMPUTRZD THERML IMAGING cs 20557C108 0.00 45 - 0 45
CONEXANT SYSTEMS INC NEW cs 207142308 0.01 3 - 0 3
CONMED CORP cs 207410101 8.69 375 375 0 -
CONOCOPHILLIPS cs 20825C104 1383.77 27,138 22,100 0 5,038
CONSOLIDATED EDISON INC cs 209115104 2527.92 54,800 53,300 0 1,500
COSTCO WHSL CORP NEW cs 22160K105 96.08 1,600 1,500 0 100
COVIDIEN PLC F cs G2554F105 1.84 38 8 0 30
CROWFLIGHT MINERALS INCF cs 228024105 0.03 200 200 0 -
CRYSTALLEX INTL CORP F cs 22942F101 0.62 1,590 1,590 0 -
DANAHER CORP DEL cs 235851102 58.65 774 774 0 -
DASSAULT SYSTEMS SA ADRF cs 237545108 8.57 150 150 0 -
DAVITA INC cs 23918K108 59.33 1,000 1,000 0 -
DEERE & CO cs 244199105 5.41 100 - 0 100
DHT MARITIME INC F cs Y2065G105 3.74 1,000 1,000 0 -
DIAGEO PLC NEW ADR F cs 25243Q205 1488.98 21,375 21,225 0 150
DIAMOND HILL FINL TRENDS cs 25264C101 15.76 2,000 - 0 2,000
DIEBOLD INCORPORATED cs 253651103 96.02 3,375 - 0 3,375
DIRECTV CL A cs 25490A101 16.73 500 500 0 -
DISNEY WALT CO cs 254687106 39.80 1,233 1,142 0 91
DNP SELECT INCOME FUND cs 23325P104 422.55 46,950 38,350 0 8,600
DOMINION RES INC VA NEW cs 25746U109 2558.42 64,770 64,770 0 -
DOW 30 PREM & DIV INCM cs 260582101 102.20 6,850 6,150 0 700
DOW CHEMICAL COMPANY cs 260543103 0.11 4 4 0 -
DREAM MARKETING INC cs 261990352 0.00 10 10 0 -
DU PONT E I DE NEMOUR&CO cs 263534109 69.94 2,054 303 0 1,751
DUKE ENERGY CORP NEW cs 26441C105 40.24 2,310 2,310 0 -
E M C CORP MASS cs 268648102 38.87 2,200 2,200 0 -
EASTMAN KODAK COMPANY cs 277461109 0.46 106 106 0 -
EATON CORPORATION cs 278058102 25.63 400 400 0 -
EATON VANCE INSURED cs 27828A100 37.89 3,335 3,335 0 -
EATON VANCE LTD DURATION cs 27828H105 362.18 24,017 23,617 0 400
EATON VANCE RISK MANAGED cs 27829G106 16.61 1,000 1,000 0 -
EATON VANCE SR INCM TR cs 27826S103 6.92 1,104 1,104 0 -
EDISON INTERNATIONAL cs 281020107 3826.80 108,316 108,116 0 200
ELAN CORP PLC SPON ADR F cs 284131208 5.13 800 800 0 -
ELECTRONIC ARTS INC cs 285512109 8.20 450 450 0 -
EMERSON ELECTRIC CO cs 291011104 2309.06 53,278 53,278 0 -
EMULEX CORP NEW cs 292475209 10.98 1,000 1,000 0 -
ENERNORTH INDUSTRIES F cs 29275G101 0.00 150 150 0 -


 FORM 13F INFORMATION TABLE

 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 MANAGERS SOLE SHARED NONE
------------------------ -------------- --------- -------- -------- --- ---- ---------- -------- ------- ------ -------
ENERPLUS RES FD NEW F cs 29274D604 309.96 13,500 - 0 13,500
ENERSIS S A ADR F cs 29274F104 4.56 200 200 0 -
ENI S P A SPON ADR F cs 26874R108 3101.35 60,775 60,775 0 -
ENPRO INDUSTRIES INC cs 29355X107 21.13 800 - 0 800
ENRON CORP XXX cs 293561106 0.00 30,500 30,500 0 -
ERICSSON TEL ADR B NEW F cs 294821608 88.22 9,600 - 0 9,600
EXELON CORPORATION cs 30161N101 29.64 600 600 0 -
EXPRESS SCRIPTS INC cs 302182100 166.92 1,900 1,900 0 -
EXXON MOBIL CORPORATION cs 30231G102 6963.20 101,254 77,014 0 24,240
FAIRPOINT COMMUN INC cs 305560104 0.00 24 24 0 -
FEDERATED INVS PA CL B cs 314211103 2.09 75 75 0 -
FIRST SOLAR INC cs 336433107 6.77 50 - 0 50
FIRST TR ISE EXCH TRD FD cs 33736M103 3.08 80 80 0 -
FIRST TRUST FOUR CORNERS cs 33733Q107 44.59 3,700 3,700 0 -
FIRST TRUST/FOUR CORNERS cs 33733U108 41.48 3,500 3,500 0 -
FLUOR CORPORATION NEW cs 343412102 4122.28 91,100 91,000 0 100
FORD MOTOR COMPANY NEW cs 345370860 19.98 2,000 2,000 0 -
FOSTER WHEELER AG ORD F cs H27178104 2.94 100 - 0 100
FRANKLIN RESOURCES INC cs 354613101 568.89 5,400 - 0 5,400
FREEPORT MCMORAN COPPER cs 35671D857 8.09 100 100 0 -
FRONTIER COMMUNICATIONS cs 35906A108 7.77 1,000 1,000 0 -
FUQI INTERNATIONAL INC cs 36102A207 1.83 100 100 0 -
GABELLI EQUITY TRUST INC cs 362397101 12.79 2,532 2,532 0 -
GABELLI GLOBAL GOLD TR cs 36244N109 27.88 1,700 1,700 0 -
GABELLI HEALTHCARE TRUST cs 36246K103 0.84 126 126 0 -
GABELLI UTILITY TRUST cs 36240A101 4.23 485 485 0 -
GAP INC cs 364760108 6.38 300 300 0 -
GENCO SHIPPING & TRDG F cs Y2685T107 20.37 903 903 0 -
GENERAL DYNAMICS CORP cs 369550108 37.79 550 550 0 -
GENERAL ELECTRIC COMPANY cs 369604103 1992.29 129,791 128,968 0 823
GENERAL MILLS INC cs 370334104 68.44 953 953 0 -
GERON CORP cs 374163103 1.98 350 350 0 -
GILEAD SCIENCES INC cs 375558103 19.93 455 455 0 -
GLAXOSMITHKLINE PLC ADRF cs 37733W105 2901.05 68,260 67,860 0 400
GLOBAL NETWORKS CORP cs 379382104 0.00 5 5 0 -
GLOBALSTAR TELECOM ORXXX cs G3930H104 0.00 180 180 0 -
GOLDCORP INC NEW F cs 380956409 7.79 200 200 0 -
GOLDMAN SACHS GROUP INC cs 38141G104 134.19 805 5 0 800
GOLDSPRING INC cs 381536101 0.14 20,000 20,000 0 -
GOODRICH CORPORATION cs 382388106 257.00 4,000 - 0 4,000
GOOGLE INC CLASS A cs 38259P508 165.02 265 230 0 35
GREENHAVEN CONT CMDTY cs 395258106 2760.67 104,650 104,650 0 -
GRILL CONCEPTS INC NEW cs 398502302 4.62 21,993 21,993 0 -
H & Q HEALTHCARE FUND cs 404052102 11.82 1,000 1,000 0 -
HAIN CELESTIAL GROUP INC cs 405217100 13.68 800 800 0 -
HALLIBURTON CO HLDG CO cs 406216101 4.50 150 150 0 -
HANOVER INSURANCE GROUP cs 410867105 110.23 2,481 - 0 2,481
HARLEY DAVIDSON INC cs 412822108 5.04 200 - 0 200
HEWLETT-PACKARD COMPANY cs 428236103 267.83 5,060 5,060 0 -
HILL ROM HOLDINGS INC cs 431475102 7.47 313 313 0 -
HILLENBRAND INC cs 431571108 5.92 313 313 0 -
HOME DEPOT INC cs 437076102 2900.12 99,558 90,358 0 9,200
HORMEL FOODS CORP cs 440452100 8.72 225 225 0 -
HSBC HLDGS PLC ADR NEW F cs 404280406 40.59 708 708 0 -
HUGOTON ROYALTY TR UBI cs 444717102 18.34 1,139 1,000 0 139
IGNIS PETROLEUM GROUP cs 451725105 0.00 1,000 - 0 1,000
ING CLARION GLBL RE INCM cs 44982G104 15.93 2,500 2,500 0 -
INTEL CORP cs 458140100 329.34 15,995 15,995 0 -
INTERNATIONAL PAPER CO cs 460146103 1.44 53 53 0 -
INTL BUSINESS MACHINES cs 459200101 710.44 5,359 1,559 0 3,800


 FORM 13F INFORMATION TABLE

 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 MANAGERS SOLE SHARED NONE
------------------------ -------------- --------- -------- -------- --- ---- ---------- -------- ------- ------ -------
INTREPID MINES LTD COM F cs Q4968A101 0.80 3,000 3,000 0 -
IOWA TELECOMMUNICATIONS cs 462594201 16.92 1,000 1,000 0 -
IRVINE SENSOR CORP NEW cs 463664607 0.00 12 12 0 -
ISHARES DJ US HOME CONST cs 464288752 42.32 3,500 3,500 0 -
ISHARES IBOXX INVESTOP cs 464287242 102.74 985 985 0 -
ISHARES MSCI EMRG MKT FD cs 464287234 328.19 7,935 7,935 0 -
ISHARES MSCI JPN IDX FD cs 464286848 61.87 6,300 6,300 0 -
ISHARES RUSSELL MIDCAP cs 464287499 10.43 125 125 0 -
ISHARES S&P 500 GROWTH cs 464287309 35.12 600 600 0 -
ISHARES S&P GLOBAL MATLS cs 464288695 12.48 200 200 0 -
ISHARES S&P NORTH AM FD cs 464287374 10.35 300 300 0 -
ISHARES S&P NORTH AM FD cs 464287515 14.24 300 300 0 -
ISHARES S&P SMCAP GROWTH cs 464287887 20.28 350 350 0 -
ISHARES S&P U S PFD FUND cs 464288687 14.70 400 400 0 -
ISHARES TR BARCLAYS BOND cs 464287440 27.33 307 307 0 -
ISHARES TR BARCLAYS BOND cs 464288596 52.55 500 500 0 -
ISHARES TR BARCLAYS BOND cs 464288638 5539.67 53,825 52,325 0 1,500
ISHARES TR BARCLAYS FUND cs 464287226 87.82 850 850 0 -
ISHARES TR BARCLAYS TIPS cs 464287176 3529.98 33,945 33,945 0 -
ISHARES TR DJ TOTAL MKT cs 464287846 8.95 160 160 0 -
ISHARES TR DJ US FINL cs 464287788 36.40 700 700 0 -
ISHARES TR DJ US HLTHCAR cs 464287762 356.69 5,530 5,530 0 -
ISHARES TR MSCI EAFE FD cs 464287465 571.45 10,265 10,265 0 -
ISHARES TR NASDAQ BIO FD cs 464287556 2390.41 29,031 28,931 0 100
ISHARES TR RUSSELL 2000 cs 464287648 20.66 300 300 0 -
ISHARES TR RUSSELL 2000 cs 464287655 334.72 5,297 5,297 0 -
ISHARES TR RUSSELL 3000 cs 464287689 0.07 1 1 0 -
ISHARES TR S&P GLOBAL cs 464287275 21.93 400 400 0 -
ISHARES TR S&P GLOBAL cs 464287325 64.97 1,245 1,245 0 -
ISHARES TR S&P GLOBAL cs 464287341 10.76 300 300 0 -
ISHARES TR S&P MIDCAP cs 464287507 14.66 200 200 0 -
ISHARES TRUST cs 464288513 181.98 2,075 2,075 0 -
ISHARES TRUST INDEX FUND cs 464287184 48.38 1,152 1,152 0 -
ISHARES TRUST S&P 500 cs 464287200 40.08 355 355 0 -
JETBLUE AIRWAYS CORP cs 477143101 2.75 500 500 0 -
JOHNSON & JOHNSON cs 478160104 6128.01 94,408 78,208 0 16,200
JP MORGAN EXCH TRADED NT cs 46625H365 106.46 3,725 3,725 0 -
JPMORGAN CHASE & CO cs 46625H100 169.45 4,080 4,080 0 -
KB HOME cs 48666K109 1.38 100 100 0 -
KIMBERLY-CLARK CORP cs 494368103 877.31 13,625 13,625 0 -
KRAFT FOODS INC cs 50075N104 21.99 800 800 0 -
L-3 COMMUNICATIONS HLDGS cs 502424104 13.36 151 151 0 -
LDK SOLAR CO LTD ADR F cs 50183L107 1.42 200 200 0 -
LEGG MASON INC cs 524901105 1.51 50 50 0 -
LEVEL 3 COMMUNICATIONS cs 52729N100 0.75 500 500 0 -
LIFE TECHNOLOGIES CORP cs 53217V109 5.24 100 100 0 -
LILLY ELI & COMPANY cs 532457108 25.32 700 700 0 -
LINEAR TECHNOLOGY CORP cs 535678106 46.41 1,500 1,500 0 -
MABCURE INC cs 554094102 1.02 2,000 2,000 0 -
MANITOWOC COMPANY INC cs 563571108 0.50 50 50 0 -
MARATHON OIL CORP cs 565849106 255.32 8,178 - 0 8,178
MARKET VECTORS ETF TRUST cs 57060U100 963.27 21,000 1,000 0 20,000
MARKET VECTORS ETF TRUST cs 57060U605 7.71 175 175 0 -
MARKET VECTORS ETF TRUST cs 57060U829 14.14 600 600 0 -
MASCO CORP cs 574599106 29.25 2,100 2,100 0 -
MASSEY ENERGY COMPANY cs 576206106 63.02 1,500 - 0 1,500
MC DONALDS CORP cs 580135101 3464.36 55,086 50,125 0 4,961
MEDTRONIC INC cs 585055106 47.48 1,067 867 0 200
MELTRONIX INC cs 585730104 0.00 12,000 12,000 0 -
MERCK & CO INC NEW cs 58933Y105 15.19 410 410 0 -


 FORM 13F INFORMATION TABLE

 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 MANAGERS SOLE SHARED NONE
------------------------ -------------- --------- -------- -------- --- ---- ---------- -------- ------- ------ -------
MERISEL INC NEW cs 589849306 0.00 10 10 0 -
METAWAVE COMMUN NEW cs 591409107 0.00 100 - 0 100
METLIFE INC cs 59156R108 2.66 75 75 0 -
METROPCS COMMUNICATIONS cs 591708102 0.76 100 100 0 -
MICROCHIP TECHNOLOGY INC cs 595017104 15.46 525 525 0 -
MICROSOFT CORP cs 594918104 507.85 16,403 3,503 0 12,900
MID CAP S P D R TRUST cs 595635103 33.75 253 253 0 -
MINDSPEED TECH INC NEW cs 602682205 0.01 2 - 0 2
MIV THERAPEUTICS INC NEW cs 55306V205 0.08 549 549 0 -
MONSANTO CO NEW DEL cs 61166W101 163.50 2,000 - 0 2,000
MORGAN STANLEY cs 617446448 5.90 200 200 0 -
MOTOROLA INC cs 620076109 1.55 200 200 0 -
MS CA INSD MUN INCM TR cs 61745P502 125.60 10,000 10,000 0 -
MS INSURED CA MUN SECS cs 61745P825 53.92 4,170 4,170 0 -
N I I HOLDINGS INC NEW cs 62913F201 10.27 300 300 0 -
N V E CORPORATION NEW cs 629445206 4.04 100 100 0 -
NESTLE S A REG B ADR F cs 641069406 77.16 1,600 1,600 0 -
NETFLIX INC cs 64110L106 5.56 100 100 0 -
NEW YORK CMNTY BANCORP cs 649445103 15.80 1,089 1,089 0 -
NIKE INC CLASS B cs 654106103 29.76 450 450 0 -
NINTENDO LTD ADR F cs 654445303 14.80 500 - 0 500
NOKIA CORP SPON ADR F cs 654902204 41.34 3,200 3,200 0 -
NORTEL NETWORKS CP NEW F cs 656568508 0.00 63 63 0 -
NORTHROP GRUMMAN CORP cs 666807102 523.06 9,204 8,904 0 300
NOVARTIS A G SPON ADR F cs 66987V109 74.04 1,355 1,355 0 -
NRG ENERGY INC NEW cs 629377508 2.39 100 100 0 -
NSTAR cs 67019E111 15.02 400 400 0 -
NUCOR CORP cs 670346105 191.77 4,075 4,075 0 -
NUVEEN AZ DIV ADVNTGE FD cs 67071P107 40.08 3,000 3,000 0 -
NUVEEN AZ PREM INCM MUNI cs 67061W104 39.42 3,000 3,000 0 -
NUVEEN CA DIV ADV MUN FD cs 67066Y105 835.98 67,650 66,850 0 800
NUVEEN CA QLTY INCM MUN cs 670985100 52.82 3,904 3,904 0 -
NUVEEN CA SELECT TAX FR cs 67063R103 63.60 5,000 5,000 0 -
NUVEEN CALIF MUNI MARKET cs 67062U107 39.19 3,000 3,000 0 -
NUVEEN DIVERSFD DIVID FD cs 6706EP105 12.66 1,300 1,300 0 -
NUVEEN EQTY PREM INC FD cs 6706ER101 195.20 15,050 15,050 0 -
NUVEEN EQTY PREM OPTY FD cs 6706EM102 68.38 5,200 5,200 0 -
NUVEEN INSD CA PRE FD II cs 67061U108 127.92 10,177 10,177 0 -
NUVEEN INSD CA PREM INCM cs 67061X102 96.90 7,500 7,500 0 -
NUVEEN INSD CA TAX FREE cs 670651108 1339.30 105,873 105,355 0 518
NUVEEN INSD TAX FREE ADV cs 670657105 48.83 3,500 3,500 0 -
NUVEEN INVT QLTY MUN FD cs 67062E107 92.75 7,000 7,000 0 -
NUVEEN MULTI STRAT INCM cs 67073B106 7.41 1,000 1,000 0 -
NUVEEN MUNI ADVTG FUND cs 67062H106 71.15 5,000 5,000 0 -
NUVEEN MUNI MKT OPPTY FD cs 67062W103 107.20 8,000 8,000 0 -
NUVEEN QLTY INCM MUNI FD cs 670977107 95.49 7,032 7,032 0 -
NUVEEN QUAL PFD INC FD 2 cs 67072C105 18.08 2,500 2,500 0 -
NUVEEN REAL EST INC FD cs 67071B108 28.63 3,500 3,500 0 -
NUVEEN SELCT QLTY MUN FD cs 670973106 70.75 5,000 5,000 0 -
NVIDIA CORP cs 67066G104 14.00 750 750 0 -
OCCIDENTAL PETE CORP cs 674599105 49.42 600 600 0 -
OPTIMUMCARE CORP cs 68388V100 0.52 5,800 5,800 0 -
ORACLE CORPORATION cs 68389X105 45.06 1,807 1,807 0 -
ORAMED PHARMACEUTICALS cs 68403P104 3.51 9,000 9,000 0 -
ORANGE COUNTY BUS BANK cs 684193105 12.32 2,200 2,200 0 -
OXYGEN BIOTHERAP NEW cs 69207P209 0.38 67 67 0 -
P G & E CORP cs 69331C108 34.05 750 750 0 -
PAC MERCANTILE BANCORP cs 694552100 2.24 700 700 0 -
PACTIV CORPORATION cs 695257105 2.72 112 112 0 -
PAYCHEX INC cs 704326107 1.55 50 50 0 -


 FORM 13F INFORMATION TABLE

 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 MANAGERS SOLE SHARED NONE
------------------------ -------------- --------- -------- -------- --- ---- ---------- -------- ------- ------ -------
PEABODY ENERGY CORP cs 704549104 23.01 500 500 0 -
PENN WEST ENERGY TRUST F cs 707885109 374.01 21,000 2,500 0 18,500
PENTHOUSE INTL INC cs 709640106 0.14 140,000 140,000 0 -
PEPSI BOTTLING GROUP INC cs 713409100 0.00 0 0 0 -
PEPSICO INCORPORATED cs 713448108 1465.78 23,908 23,908 0 -
PETROLEO BRASILEIRO ADRF cs 71654V408 32.18 675 675 0 -
PFIZER INCORPORATED cs 717081103 5069.01 274,001 270,501 0 3,500
PHILIP MORRIS INTL INC cs 718172109 122.72 2,522 2,522 0 -
PIMCO CAL MUNI INC FD II cs 72200M108 57.90 6,667 6,667 0 -
PIMCO CALIF MUN INCM FD cs 72200N106 29.26 2,373 2,373 0 -
PIMCO CORP INCOME FUND cs 72200U100 1883.57 135,900 134,000 0 1,900
PIMCO CORPORATE OPPTY FD cs 72201B101 17.39 1,200 1,200 0 -
PIMCO HIGH INCOME FUND cs 722014107 12.35 1,093 1,093 0 -
PINNACLE ENTERTAINMENT cs 723456109 0.07 8 8 0 -
PINNACLE WEST CAPITAL CP cs 723484101 18.59 500 500 0 -
PNM RESOURCES INC cs 69349H107 9.49 750 - 0 750
POWERSHRS DB GOLD DBL F cs 25154H756 2465.69 174,500 4,500 0 170,000
POWERSHS DB US DOLLAR TR cs 73936D107 312.19 13,550 3,400 0 10,150
POWERSHS EXCH TRAD FD TR cs 73935X500 13.10 1,175 1,125 0 50
POWERSHS EXCH TRAD FD TR cs 73935X575 52.41 3,085 3,085 0 -
POWERSHS EXCH TRAD FD TR cs 73935X690 1.73 100 100 0 -
POWERSHS EXCH TRAD FD TR cs 73935X856 62.85 3,750 3,750 0 -
POWERSHS QQQ TRUST SER 1 cs 73935A104 20.61 446 446 0 -
POWERWAVE TECH INC cs 739363109 0.08 67 67 0 -
PREMIER LASER SYS A NXXX cs 740522107 0.00 500 500 0 -
PRESSTEK INC cs 741113104 0.22 100 100 0 -
PROCTER & GAMBLE cs 742718109 4837.97 78,833 75,497 0 3,336
PROGRESS ENERGY INC cs 743263105 17.28 416 416 0 -
PROSHARES SHORT S&P 500 cs 74347R503 2820.89 54,175 26,675 0 27,500
PROSHARES ULTRASHORT QQQ cs 74347R875 1.87 100 100 0 -
PROSHS ULTRASHORT DOW30 cs 74347R867 2.95 100 - 0 100
PROSHS ULTRASHORT EURO cs 74347W882 121.49 6,500 6,500 0 -
PROSHS ULTRASHORT OIL cs 74347R586 62.50 5,000 5,000 0 -
PROSHS ULTRASHORT XINHUA cs 74347R321 542.94 63,950 8,800 0 55,150
PROSHS ULTRASHRT S&P500 cs 74347R883 1844.05 53,575 8,575 0 45,000
PUB SVC ENT GROUP INC cs 744573106 6.75 200 200 0 -
PULTE HOMES INC cs 745867101 0.85 85 85 0 -
QUALCOMM INC cs 747525103 4054.75 86,529 86,029 0 500
QUANTUM FUEL SYS TECH cs 74765E113 4.32 4,000 4,000 0 -
QUESTAR CORPORATION cs 748356102 8.45 200 200 0 -
QUIKSILVER INC cs 74838C106 0.91 440 40 0 400
QWEST COMMUNS INTL INC cs 749121109 0.06 13 13 0 -
RADIENT PHARMACEUTICALS cs 750341109 4.55 19,767 19,767 0 -
RAMBUS INC DEL cs 750917106 17.09 700 700 0 -
RAYTHEON COMPANY NEW cs 755111507 3.21 61 61 0 -
REDHAT INC cs 756577102 0.16 5 5 0 -
RESEARCH IN MOTION LTD F cs 760975102 3848.45 57,226 57,126 0 100
RIKEI CORP ORD F cs J64812100 2.98 4,000 - 0 4,000
ROCHE HLDG LTD SPON ADRF cs 771195104 21.11 500 500 0 -
ROYAL DUTCH SHELL A ADRF cs 780259206 145.58 2,400 400 0 2,000
ROYCE VALUE TRUST INC cs 780910105 82.23 7,600 7,600 0 -
RRI ENERGY INC cs 74971X107 0.21 36 36 0 -
RYDEX ETF TRUST cs 78355W783 11.66 350 350 0 -
S & P 500 CVRD CALL FUND cs 78381P109 129.77 12,550 12,550 0 -
S G I INTERNATIONAL NEW cs 784185209 0.00 100 100 0 -
S P D R TRUST UNIT SR 1 cs 78462F103 672.87 5,980 5,980 0 -
SANOFI AVENTIS ADR F cs 80105N105 30.50 767 767 0 -
SECTOR SPDR CONSUMER FD cs 81369Y407 6.01 200 200 0 -
SECTOR SPDR ENGY SELECT cs 81369Y506 94.83 1,650 1,650 0 -
SECTOR SPDR FINCL SELECT cs 81369Y605 48.12 3,335 3,335 0 -


 FORM 13F INFORMATION TABLE

 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 MANAGERS SOLE SHARED NONE
------------------------ -------------- --------- -------- -------- --- ---- ---------- -------- ------- ------ -------
SECTOR SPDR HEALTH FUND cs 81369Y209 376.31 11,950 11,850 0 100
SECTOR SPDR INDL SELECT cs 81369Y704 21.11 750 750 0 -
SECTOR SPDR MATERIALS FD cs 81369Y100 3.35 100 100 0 -
SECTOR SPDR TECH SELECT cs 81369Y803 20.82 900 900 0 -
SECTOR SPDR TR CON STPLS cs 81369Y308 360.49 13,486 13,336 0 150
SECTOR SPDR UTIL SELECT cs 81369Y886 7.87 250 250 0 -
SEMPRA ENERGY cs 816851109 485.28 8,532 8,532 0 -
SHL TELEMEDICINE ORD F cs M84047105 4.71 700 700 0 -
SIRIUS XM RADIO INC cs 82967N108 3.46 6,000 6,000 0 -
SKYWORKS SOLUTIONS INC cs 83088M102 0.18 13 - 0 13
SONY CORP ADR NEW F cs 835699307 2799.62 95,550 95,550 0 -
SOUTHERN COPPER CORP cs 84265V105 36.29 1,100 1,100 0 -
SOUTHWEST GAS CORP COM cs 844895102 39.01 1,337 1,337 0 -
SPDR GOLD TRUST cs 78463V107 6388.00 59,740 58,650 0 1,090
SPECTRA ENERGY CORP cs 847560109 6.71 325 325 0 -
SPRINT NEXTEL CORP cs 852061100 0.01 2 2 0 -
ST JUDE MEDICAL INC cs 790849103 6.48 175 175 0 -
STARBUCKS CORP cs 855244109 138.00 5,920 5,920 0 -
STRATEGIC RESOURCES LTD cs 862773108 0.06 5,500 5,500 0 -
STRYKER CORP cs 863667101 30.47 600 600 0 -
SUNOCO INC cs 86764P109 52.20 2,000 - 0 2,000
SUPERVALU INC cs 868536103 1.08 85 85 0 -
SYNERON MEDICAL LTD F cs M87245102 1.28 125 125 0 -
SYSCO CORPORATION cs 871829107 283.00 10,000 2,000 0 8,000
T H Q INC NEW cs 872443403 0.10 20 20 0 -
TARGET CORPORATION cs 87612E110 11.93 245 245 0 -
TASER INTERNATIONAL INC cs 87651B104 6.53 1,500 1,500 0 -
TELEFON DE MEX L ADR F cs 879403780 36.78 2,200 2,200 0 -
TELEFONICA SPON ADR F cs 879382208 6.30 75 75 0 -
TEMPLE INLAND INC cs 879868107 -128.70 (6,000) (6,000) 0 -
TEVA PHARM INDS LTD ADRF cs 881624209 230.51 4,125 3,625 0 500
THE CHARLES SCHWAB CORP cs 808513105 106.74 5,606 606 0 5,000
THE SOUTHERN COMPANY cs 842587107 60.62 1,800 1,800 0 -
TIME WARNER CABLE cs 88732J207 0.04 1 1 0 -
TIME WARNER INC NEW cs 887317303 0.18 6 6 0 -
TOTAL S A ADR F cs 89151E113 25.89 400 400 0 -
TOYOTA MOTOR CP ADR NEWF cs 892331307 12.62 150 - 0 150
TRONOX INCORPORATED CL B cs 897051207 0.02 66 66 0 -
TYCO ELECTRONICS LTD F cs H8912P106 0.93 38 8 0 30
TYCO INTL LTD NEW F cs H89128104 1.36 38 8 0 30
U S A BIOMASS CORP XXX cs 90333F105 0.00 20,000 20,000 0 -
U S BANCORP DEL NEW cs 902973304 40.41 1,800 1,800 0 -
UMPQUA HOLDINGS CORP cs 904214103 4.47 330 330 0 -
UNILEVER N V NY SHS NEWF cs 904784709 50.53 1,550 1,550 0 -
UNISYS CORP NEW cs 909214306 0.04 1 1 0 -
UNITED PARCEL SERVICE B cs 911312106 69.82 1,200 1,200 0 -
UNITED STATES STEEL CORP cs 912909108 28.70 517 100 0 417
UNITED STS 12 MO OIL FD cs 91288V103 12.15 300 300 0 -
UNITED TECHNOLOGIES CORP cs 913017109 42.29 600 600 0 -
USA URANIUM CORP cs 91154T109 4.40 400,000 400,000 0 -
VALLEY NATIONAL BANCORP cs 919794107 7.95 561 561 0 -
VAN KAMPEN CA VALUE TR cs 92112B107 118.80 10,000 10,000 0 -
VAN KAMPEN SR INCM TR cs 920961109 8.44 2,000 2,000 0 -
VANGUARD BOND INDEX FUND cs 921937835 4573.89 58,155 50,155 0 8,000
VANGUARD EMERGING MARKET cs 922042858 122.64 3,000 3,000 0 -
VANGUARD TOTAL STOCK MKT cs 922908769 124.35 2,184 2,184 0 -
VERIGY LTD F cs Y93691106 0.27 21 21 0 -
VERISIGN INC cs 92343E106 0.20 8 8 0 -
VERIZON COMMUNICATIONS cs 92343V104 282.30 8,447 3,823 0 4,624
VODAFONE GROUP NEW ADR F cs 92857W209 146.87 6,358 2,793 0 3,565


 FORM 13F INFORMATION TABLE

 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 MANAGERS SOLE SHARED NONE
------------------------ -------------- --------- -------- -------- --- ---- ---------- -------- ------- ------ -------
WALGREEN COMPANY cs 931422109 55.70 1,500 1,500 0 -
WAL-MART STORES INC cs 931142103 37.36 688 588 0 100
WASHINGTON MUTUAL INC cs 939322103 0.02 150 150 0 -
WASTE MANAGEMENT INC DEL cs 94106L109 50.99 1,500 1,500 0 -
WELLS FARGO & CO NEW cs 949746101 76.41 2,849 2,849 0 -
WESTERN ASSET HIGH INCM cs 95766K109 1.95 325 325 0 -
WESTERN DIGITAL CORP cs 958102105 44.70 1,000 1,000 0 -
WEYERHAEUSER CO cs 962166104 32.90 750 750 0 -
WHOLE FOODS MARKET INC cs 966837106 2.88 104 104 0 -
WILLIAMS COMPANIES cs 969457100 129.93 6,100 100 0 6,000
WISDOMTREE INTL MDCP DIV cs 97717W778 252.63 5,250 - 0 5,250
WISDOMTREE TRUST cs 97717W182 778.35 30,850 30,850 0 -
WORLDCOM INC ^XX cs 98157D106 0.00 10 10 0 -
XCEL ENERGY INC cs 98389B100 84.88 4,000 - 0 4,000
ZIMMER HOLDINGS INC cs 98956P102 103.80 1,737 893 0 844
AMERIGAS PARTNERS LP oa 030975106 87.27 2,200 2,200 0 -
BOARDWALK PIPELINE PTNRS oa 096627104 10.53 350 350 0 -
BREITBURN ENERGY PTNR LP oa 106776107 21.60 2,000 2,000 0 -
CENTURY COMMUNI 8.75XXX oa 156ESCAJ4 0.00 5,000 5,000 0 -
DUKE REALTY CORP oa 264411505 26.33 2,100 2,100 0 -
ENBRIDGE ENERGY PTNRS LP oa 29250R106 37.36 695 575 0 120
ENERGY TRANSFER PARTNERS oa 29273R109 14.60 325 325 0 -
ENTERPRISE PRD PRTNRS LP oa 293792107 196.87 6,232 6,232 0 -
EQUITY RESIDENTIAL oa 29476L107 43.71 1,250 1,250 0 -
GLIMCHER REALTY TRUST oa 379302102 1.87 707 707 0 -
GMAC 10,000 FACE 0%12 UT oa 36186CAD5 29.80 4 4 0 -
KIMCO REALTY CORP oa 49446R109 13.93 1,000 1,000 0 -
KINDER MORGAN ENERGY LP oa 494550106 268.23 4,398 4,398 0 -
LAACO INC LTD PARTNSHIP oa 505346106 37.20 40 40 0 -
LAZARD LTD F oa G54050102 3.69 100 100 0 -
LINN ENERGY oa 536020100 27.71 1,000 1,000 0 -
MID AMER APT CMNTYS INC oa 59522J103 45.97 938 938 0 -
NATIONWIDE HEALTH PPTYS oa 638620104 106.77 3,000 3,000 0 -
NUSTAR ENERGY LP oa 67058H102 67.06 1,202 1,202 0 -
PUBLIC STORAGE 7.25% PFD oa 74460D299 25.50 1,000 1,000 0 -
REALTY INCOME CORP oa 756109104 26.02 984 984 0 -
UMH PROPERTIES INC oa 903002103 24.24 3,000 3,000 0 -
VORNADO REALTY TRUST oa 929042109 29.60 415 415 0 -
WILLIAMS COMM 10.70%XXX oa 9694559A4 0.00 750,000 - 0 750,000
PUT PALM INC pt 6966434MB 5.24 20 20 0 -
PUT TEMPLE INLAND pt 8798689MC 0.60 60 60 0 -
PUT GOOGLE INC CL A pt 38259P9OW 0.94 2 2 0 -
PUT PETROLEO BRASILEIRO pt 71654V0MG 0.02 10 10 0 -
PUT SPDR GOLD TRUST pt 78463V9MF 0.05 16 16 0 -
PUT STARWOOD HTLS&RESOR pt 85590A8MD 0.18 35 35 0 -
FRESENIUS KABI PHRM 10RT wt 35802M115 0.09 300 300 0 -