SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                ------------------------------------------------

                                    FORM 10-Q

                   Quarterly Report Under Section 13 or 15(d)
                                     Of the
                             Securities act of 1934

                        FOR QUARTER ENDED MARCH 31, 2001
                         Commission File Number 0-12248

                                DAXOR CORPORATION

                    (Exact Name as Specified in its Charter)

                 New York                                 13-2682108
      (State or Other Jurisdiction of                   (I.R.S. Employer
       Incorporation or Organization)                   Identification No.)

                                  350 Fifth Ave
                                   Suite 7120
                            New York, New York 10118

               (Address of Principal Executive Offices & Zip Code)

Registrant's Telephone Number:                       (212) 244-0555
    (Including Area Code)

     Indicate  by check mark  whether the  registrant  (1) has filed all reports
required by Section 13 or 15(d) of the  Securities  Exchange  Act of 1934 during
the p receding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

                  Yes   X                  No
                       ---                     ---

     Indicate the number of shares  outstanding of each of the issuer's  classes
of common stock, as of the latest practicable date.

          CLASS                                OUTSTANDING AT MARCH 31, 2001
----------------------------------------------------------------------------
       COMMON STOCK
   PAR VALUE:  $.01 per share                           4,664,909


<PAGE>

<TABLE>
<CAPTION>


PART I.  FINANCIAL INFORMATION


ITEM 1.  FINANCIAL STATEMENTS                                                      PAGE
         ------------------------------------------------------------------------------
<S>                                                                                <C>
         Consolidated Balance Sheets as at March 31, 2001 and
              December 31, 2000                                                     F-1

         Consolidated Statement of Income and Statement of Income
              For the Three Months ended March 31, 2001 and 2000                    F-2

         Consolidated Statement of Cash  Flows and Statement of Cash Flows
               For the Three Months ended March 31, 2001 and 2000                   F-3

         Notes to Financial Statements                                              F-4


PART II.  OTHER INFORMATION


ITEM 1.   LEGAL PROCEEDINGS                                                           2


ITEM 2.   RESULTS OF OPERATIONS                                                       2

</TABLE>


<PAGE>



                                DAXOR CORPORATION
                               FINANCIAL STATMENTS

CONSOLIDATED BALANCE SHEETS (UNAUDITED)
<TABLE>
<CAPTION>


                                                                  March 31,   December 31,
                                                                    2001          2000
                                                                    ----          ----
ASSETS

CURRENT ASSETS
<S>                                                           <C>             <C>
Cash                                                          $     57,012    $     18,439
Marketable Securities at Fair Value
March 31, 2001 and December 31, 2000, (Notes 1 and 2)           46,660,425      48,722,403
Accounts receivable                                                124,808         107,927
Other current Assets                                               330,235         363,758
                                                              ------------    ------------
Total Current Assets                                            47,172,480      49,212,527

EQUIPMENT AND IMPROVEMENTS
Storage tanks                                                      125,815         125,815
Leasehold improvements, furniture
and equipment                                                      837,015         836,813
Laboratory equipment                                               278,087         278,087
                                                              ------------    ------------
                                                                 1,240,917       1,240,715
Less: Accumulated depreciation and amortization                    930,933         919,414
                                                              ------------    ------------
Net equipment and improvements                                     309,984         321,301

Other Assets                                                        41,290          41,290

Total Assets                                                  $ 47,523,754    $ 49,575,118
                                                              ============    ============
LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES
Accounts payable and accrued liabilities                      $     89,265    $     42,431
Loans payable (Notes 1 and 2)                                    1,885,737       1,775,363
Other Liabilities                                                   87,858          73,741
Deferred Taxes (NOTE 1)                                          8,242,257       9,011,745
                                                              ------------    ------------
Total Liabilities                                               10,305,117      10,903,280

SHAREHOLDERS' EQUITY
Common stock, par value $.01 per share:
Authorized 10,000,000 shares:  issued and
Outstanding shares 4,664,909 March 31,
2001 and 4,664,909 December 31, 2000                                53,097          53,097
Additional Paid in capital                                       9,798,232       9,798,232
Net unrealized holding gains
on available-for-sale securities (Note 1)                       15,999,675      17,493,387
Retained earnings                                               16,181,163      16,140,652
Treasury stock                                                  (4,813,530)     (4,813,530)
                                                              ------------    ------------
Total Shareholders' Equity                                      37,218,637      38,671,838

Total Liabilities and Shareholders' Equity                    $ 47,523,754    $ 49,575,118
                                                              ============    ============
</TABLE>


See accompanying notes to consolidated financial statements

                                      (F-1)


<PAGE>

<TABLE>
<CAPTION>


DAXOR CORPORATION
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
FOR THE THREE MONTHS ENDED MARCH 31,

                                                                  2001          2000
                                                                  ----          ----
<S>                                                           <C>            <C>
Revenues:
Operating revenues                                            $   140,077    $  211,559
Other revenues                                                $    42,334    $   24,441
Dividend income                                                   473,919       473,494
Gains/(losses) on sale of securities                               (8,704)        8,242
                                                              -----------    ----------

Total revenues                                                    647,626       717,736
                                                              -----------    ----------
Costs and expenses:
Operations of Laboratories & Costs of Production                  220,240       206,594
Selling, General, and Administrative                              333,197       370,707
Interest expense, net of interest income                           34,409        45,082
                                                              -----------    ----------

Total Costs and Expenses                                          587,846       622,383
                                                              -----------    ----------

Net Income Before Income Taxes                                     59,780        95,353

Provision for income taxes                                         19,269         1,360
                                                              -----------    ----------
Net Income                                                    $    40,511    $   93,993
                                                              ===========    ==========
Weighted Average Number of Shares Outstanding                   4,664,609     4,685,576
                                                              ===========    ==========
Net Income per Common Equivalent Share                        $      0.01    $     0.02
                                                              ===========    ==========

</TABLE>

See accompanying notes to consolidated financial statemens

                                       F-2


<PAGE>



DAXOR CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
FOR THE THREE MONTHS ENDED MARCH 31,
<TABLE>
<CAPTION>

                                                                  2001        2000
                                                                  ----        ----
<S>                                                           <C>          <C>
Cash flows from operating activities:
Net income or (loss)                                          $  40,511    $  93,993
Adjustments to reconcile net income
(loss) to net cash provided by
operating activities:
Depreciation Equipment and
improvements                                                     11,519       14,332
(Gain) loss on sale of investments                                8,704       (8,242)
Change in assets and liabilities:
(Increase) decrease in accounts receivable                      (16,881)      (1,796)
(Increase) decrease in other current assets                      33,523      133,372
Increase (decrease) in accounts payable, accrued
and other liabilities net of "short sales"                       47,434      (19,882)
                                                              ---------    ---------
Total adjustments                                                84,299      117,784
                                                              ---------    ---------
Net cash (used in) operating activities                         124,810      211,777
                                                              ---------    ---------

Cash flows from investing activities
Payment for purchase of equipment and
improvements                                                       (202)      (2,899)
Net cash provided or (used) in purchase
and sale of investments                                        (277,510)    (243,664)
Net proceeds (repayments) of loans from
brokers used to purchase investments                            110,374      114,366
Proceeds from "short sales" not closed                           81,101       56,998
                                                              ---------    ---------
Net cash provided by/(used in)
investing activities                                            (86,237)     (75,199)
                                                              ---------    ---------
Cash flows from financing activities
Payment for purchase of treasury stock                                0     (106,063)
                                                              ---------    ---------
Net cash provided by/(used in) financing activities                   0     (106,063)
                                                              ---------    ---------
Net increase (decrease) in cash and
cash equivalents                                                 38,573       30,515
Cash and cash equivalents at beginning of year                   18,439       67,783
                                                              ---------    ---------
Cash and equivalents at the end of period                     $  57,012    $  98,298
                                                              ---------    ---------
</TABLE>

See accompanying notes to consolidated financial statements

                                       F-3


<PAGE>



                                DAXOR CORPORATION

                    NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

                   THREE MONTHS ENDED MARCH 31, 2001 AND 2000

     In the  opinion  of  the  Company,  the  accompanying  unaudited  financial
statements  contain  all  adjustments   (consisting  of  only  normal  recurring
accruals)  necessary to present  fairly the  financial  position as of March 31,
2001,  and  December 31, 2000,  the results of  operations  for the three months
ended  March 31, 2001 and 2000 and cash flows for the three  months  ended March
31, 2001 and 2000.

(1)  MARKETABLE SECURITIES

     Upon adoption of FASB No. 115, management has determined that the company's
portfolio is best  characterized as  "Available-For-Sale".  This has resulted in
the  balance  sheet  carrying  value  or  the  company's  marketable  securities
investments,  as of March  31,  2001  and  December  31,  2000  being  increased
approximately  108.13% and 119.30%  respectively  over its  historical  cost.  A
corresponding  increase  in  shareholders'  equity  has  been  effectuated.   In
accordance with the provisions of FASB No. 115, the adjustment in  shareholders'
equity to reflect the  company's  unrealized  gains has been made net of the tax
effect had these gains been realized.

         The following tables summarize the company's investments as of:
<TABLE>
<CAPTION>

                                                  March 31, 2001
                                                  --------------

Type of                                                                Unrealized               Unrealized
Security              Cost                  Fair Value               Holding gains            Holding losses
--------              ----                  ----------               -------------            --------------


<S>               <C>                      <C>                        <C>                       <C>
Equity            $22,403,634             $ 46,659,525                $25,250,566               $  994,675

Debt                   14,859                      900                                              13,959
                  -----------              -----------                -----------               ----------

Total             $22,418,493              $46,660,425                $25,250,566               $1,008,634
                  ===========              ===========                ===========               ==========

<CAPTION>

                                                December 31, 2000
                                                -----------------

Type of                                                               Unrealized               Unrealized
Security             Cost                   Fair Value               Holding gains            Holding losses
--------             ----                   ----------               -------------            --------------

<S>               <C>                      <C>                        <C>                       <C>
Equity            $22,202,412              $48,721,503                $27,425,484               $ 906,393

Debt                   14,859                      900                          0                  13,959
                  -----------              -----------                -----------               ---------


Total             $22,217,271              $48,722,403                $27,425,484               $ 920,352
                  ===========              ===========                ===========               =========
</TABLE>


     At March 31, 2001 the securities  held by the Company had a market value of
$46,660,425  and a cost basis of $22,418,493  resulting in a net unrealized gain
of $24,241,932 or 108.13% of cost.

     At December 31, 2000, the securities held by the Company had a market value
of  $48,722,403  and a cost basis of  $22,217,271  resulting in a net unrealized
gain of $25,505,132 or 119.30% of cost.

     At March 31, 2001 and December 31, 2000  marketable  securities,  primarily
consisting of preferred and common  stocks of utility  companies,  are valued at
fair value.

                                       F-4

<PAGE>



(2)  LOANS PAYABLE

     As at March  31,  2001  and  December  31,  2000,  the  Company  had  loans
outstanding  aggregating  $1,000,000 borrowed on a short term basis from a bank,
which are secured by certain  marketable  securities  of the Company.  The loans
bear interest at approximately 7.1875%.

     Short term margin debt due to brokers,  secured by the Companies marketable
securities,  totaled  $885,737  at March 31, 2001 and  $775,363 at December  31,
2000.



                                      F-5


<PAGE>

PART II.  OTHER INFORMATION

ITEM 1.

Legal Proceedings

There are no current legal proceedings.  The Company is not aware of any pending
legal proceedings.

                        MANAGEMENT'S DISCUSSION ANALYSIS
                 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

ITEM 2.

RESULTS OF OPERATIONS

Three months ended March 31, 2001 as compared  with three months ended March 31,
2000.

         For the three months ended March 31, 2001, total revenues were $647,626
down from $717,636 in 2000.  Capital gains in 2000 contributed  $8,242 and was a
loss of $8,704 in 2001. Operating revenues in the first quarter of 2000 included
the sale of 3 Blood Volume Analyzers.  The Company is now focusing on a lease or
loaner  plan for its Blood  Volume  Analyzer  which  results  in less  immediate
income.  The Company may elect to directly lease its own  equipment.  Under such
plans, income would be recorded over the term of the lease. If equipment is sold
to a leasing  company,  then it would be  recorded  as a direct  sale.  Dividend
income in 2001 was $473,919 with a net interest expense of $34,409,  as compared
to dividend  income of $473,494 with a net interest  expense of $45,082 in 2000.
In 2001,  the Company had a net profit of $59,780  before  income  taxes  versus
$95,353  before income taxes in 2000.  In 2001,  the Company had a net profit of
$59,780  before income taxes versus  $95,353  before  income taxes in 2000.  The
Company  received in the first  quarter of 2000 its first  income from the Blood
Volume Analyzer.  The Company  anticipates that it's sales of equipment and kits
will become the major source of income for the Company. The Company is currently
initiating  distribution networks but no income has yet been received from sales
by non-Company personnel.

LIQUIDITY AND CAPITAL RESOURCES

         At March 31, 2001 the Company had total assets of $47,523,754 and total
liabilities of $10,305,117 with shareholders' equity of $37,218,637. The Company
has a net pre-taxed  unrealized gain of $24,241,932 and $15,999,675 of net after
tax unrealized capital gains on available-for-sale  securities in its portfolio.
This amount is included in the calculation of Total  Shareholder's  Equity.  The
Company's  stock  portfolio had a market value of  $46,660,425  with  short-term
loans of $1,885,737 with 4,664,909 shares outstanding.

         The Company has adequate  resources for the current  marketing level of
its Blood Volume  Analyzer as well as capital to sustain its localized semen and
blood baking  services.  The Company is reviewing  various  options in regard to
establishing a nationwide sales force as opposed to utilizing  independent local
dealer  distribution  networks.  The Company is evaluating  the  possibility  of
acquiring  additional  capital,  which would enable it to undertake a more rapid
marketing  program  nationally  as well as  internationally.  The Company has an
instrument  loaner  reagent plan which  requires use of the Company's  reserves.
Because of higher  reagent  cost,  such plans have the potential for an ultimate
higher  return for the Company.  The  Company's  experience to date on equipment
sales has been too limited to evaluate  whether  sales or loaner  reagent  plans
will  predominate.  The Company  will arrange  some leases  through  independent
leasing companies,  to whom it will sell the BVA-100.  The Company is evaluating
blood volume  instrumentation  management  programs for hospitals.  Under such a
plan, the Company would provide equipment and personnel on a sub-contract basis.
The  Company  will use its  financial  reserves  primarily  for  developing  and
marketing the Blood Volume Analyzer.

         The Company did not file any reports on form 8-K during the first three
months of 2001.


<PAGE>


                                   SIGNATURES


         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                                DAXOR CORPORATION
                                  (Registrant)


Date:    May 14, 2001                                     /s/
                                                          ----------------------
                                                          JOSEPH FELDSCHUH, M.D.
                                                          President

Date:    May 14, 2001                                     /s/
                                                          ----------------------
                                                          DAN WELLINGTON
                                                          Vice President

Date:    May 14, 2001                                     /s/
                                                          ----------------------
                                                          OCTAVIA ATANASIU
                                                          Treasurer

Date:    May 14, 2001                                     /s/
                                                          ----------------------
                                                          VIRGINIA FITZPATRICK
                                                          Secretary