Pinnacle Advisory 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

OMB Number:		3235-0006
Expires:	Oct 31, 2018
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
BLACKROCK MUN 2030 TAR TERM	COM SHS BEN IN	09257P105	502	20,750	SH		SOLE	0	0	0	0
BLACKSTONE MTG TR INCE	COM CL A	09257W100	382	13,815	SH		OTR	0	0	0	0
CIBER INC	COM	17163B102	29	19,434	SH		OTR	0	0	0	0
CIENA CORP	COM	171779309	260	13,904	SH		OTR	0	0	0	0
DOMINION RES INC VA NEW	COM	25746U109	809	10,392	SH		OTR	0	0	0	0
DBX ETF TR	XTRAK MSCI BRAZL	233051507	444	14,449	SH		SOLE	0	0	0	0
UBS AG JERSEY BRH	DJ COMMD ETN39	902641679	314	19,403	SH		SOLE	0	0	0	0
BARCLAYS BK PLC	DJUBS CMDT ETN36	06738C778	23,521	951,150	SH		SOLE	0	0	0	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	294	10,077	SH		OTR	0	0	0	0
ISHARES	MSCI JAPAN ETF	464286848	43,733	3,802,908	SH		SOLE	0	0	0	0
ISHARES	MSCI SZ CAP ETF	464286749	24,038	810,735	SH		SOLE	0	0	0	0
ISHARES INC	MSCI PAC J IDX	464286699	392	25,534	SH		SOLE	0	0	0	0
ISHARES INC	MSCI EMU	464286608	41,230	1,277,673	SH		SOLE	0	0	0	0
FORD MTR CO DEL	COM PAR $0.01	345370860	209	16,638	SH		SOLE	0	0	0	0
FREDERICK COUNTY BANCORP INC	COM	355685108	231	11,661	SH		OTR	0	0	0	0
FIDELITY	TELECOMM SVCS	316092873	27,639	883,066	SH		SOLE	0	0	0	0
SPDR INDEX SHS FDS	EURO STOXX 50	78463X202	2,378	76,293	SH		SOLE	0	0	0	0
FIDELITY	MSCI HLTH CARE I	316092600	20,746	613,607	SH		SOLE	0	0	0	0
GENERAL ELECTRIC	COM	369604103	746	23,727	SH		OTR	0	0	0	0
CLAYMORE EXCH	SHT DUR	18383M654	108,659	2,172,680	SH		SOLE	0	0	0	0
WISDOMTREE TR	EUROPE HEDGED EQ	97717X701	21,580	427,073	SH		SOLE	0	0	0	0
BROOKFIELD TOTAL RETURN FD I	COM	11283U108	390	17,330	SH		OTR	0	0	0	0
ISHARES GOLD TR	ISHARES	464285105	18,274	1,432,167	SH		SOLE	0	0	0	0
ISHARES TR	BARCLYS 7-10 YR	464287440	25,132	222,506	SH		SOLE	0	0	0	0
ISHARES TR	BARCLYS 3-7 YR	464288661	5,699	44,754	SH		SOLE	0	0	0	0
ISHARES TR	S&P NA MULTIMD	464287531	382	10,947	SH		SOLE	0	0	0	0
INTERSECTIONS INC	COM	460981301	65	30,641	SH		OTR	0	0	0	0
ISHARES TR	DJ US TECH	464287721	83,686	794,898	SH		SOLE	0	0	0	0
JOHNSON & JOHNSON	COM	478160104	1,231	10,154	SH		OTR	0	0	0	0
PIMCO ETF TR	ENHAN SHRT MAT	72201R833	79,397	784,788	SH		SOLE	0	0	0	0
GLOBAL X FDS	GLB X MLP ENERG I	37950E226	5,629	407,611	SH		SOLE	0	0	0	0
MICROSOFT CORP	COM	594918104	635	12,417	SH		OTR	0	0	0	0
ISHARES TR	NTL AMTFREE	464288414	21,671	190,223	SH		SOLE	0	0	0	0
POWERSHARES ETF TRUST	WNDRHLL CLN EN	73935X500	127	33,460	SH		SOLE	0	0	0	0
POWERSHARES ACT MANG COMM FD	DB OPT YLD DIV	73937V106	243	13,654	SH		SOLE	0	0	0	0
ISHARES TR	U.S. PFD STK ETF	464288687	784	19,672	SH		SOLE	0	0	0	0
PROCTOR & GAMBLE	COM	742718108	858	10,138	SH		OTR	0	0	0	0
POWERSHARES GLOBAL ETF TRUST	INSUR NATL MUN	73936T474	628	23,663	SH		SOLE	0	0	0	0
SABINE ROYALTY TR	UNIT BEN INT	785688102	1,087	32,559	SH		SOLE	0	0	0	0
SCHWAB STRATEGIC TR	US SML CAP ETF	808524607	897	16,605	SH		SOLE	0	0	0	0
SCHWAB STRATEGIC TR	INTL EQTY ETF	808524805	1,489	54,924	SH		SOLE	0	0	0	0
SCHWAB STRATEGIC TR	INTL EQTY ETF	808524805	13,778	243,961	SH		SOLE	0	0	0	0
SCHWAB STRATEGIC TR	US LRG CAP ETF	808524201	1,909	38,363	SH		SOLE	0	0	0	0
SCHWAB STRATEGIC TR	US AGGREGATE B	808524839	2,638	49,117	SH		SOLE	0	0	0	0
SPECTRA ENERGY CORP	COM	847560109	416	11,360	SH		OTR	0	0	0	0
ETFS GOLD TR	SHS	26922Y105	30,920	239,786	SH		SOLE	0	0	0	0
SPDR SERIES TRST	SHT MUNI	78464A425	4,610	93,929	SH		SOLE	0	0	0	0
AT&T INC	COM	00206R102	733	16,982	SH		OTR	0	0	0	0
SPDR SERIES TRST	BRCLY MUNI	78464A458	10,117	199,994	SH		SOLE	0	0	0	0
ISHARES TR	TIPS BD ETF	464287176	8,862	75,966	SH		SOLE	0	0	0	0
ISHARES TR	BARCLYS 20+ YR	464287432	125,114	900,752	SH		SOLE	0	0	0	0
TCW STRATEGIC INCOME FUND IN	COM	872340104	330	60,795	SH		OTR	0	0	0	0
UBS AG JERSEY BRH	CMCI ETN 38	902641778	221	15,955	SH		SOLE	0	0	0	0
WISDOMTREE TR	BLMBG US BULL	97717W471	43,226	1,644,862	SH		SOLE	0	0	0	0
VANGUARD TAX MANAGED INTL FD	FTSE DEV MKT ETF	921943858	374	10,592	SH		SOLE	0	0	0	0
VEECO INSTRS INC DEL	COM	922417100	4,304	259,927	SH		OTR	0	0	0	0
VANGUARD WORLD FDS	FINANCIALS ETF	92204A405	1,659	35,046	SH		SOLE	0	0	0	0
VANGUARD WORLD FDS	INF TECH ETF	92204A702	1,548	14,459	SH		SOLE	0	0	0	0
VANGUARD WORLD FDS	HEALTH CAR ETF	92204A504	58,100	445,251	SH		SOLE	0	0	0	0
VANGUARD INTL EQUITY INDEX F	ALLWRLD EX US	922042775	210	4,909	SH		SOLE	0	0	0	0
FACEBOOK INC	CL A	30303M102	214	1,880	SH		SOLE	0	0	0	0
ISHARES TR	DJ HOME CONSTN	464288752	215	7,780	SH		SOLE	0	0	0	0
IDACORP INC	COM	451107106	220	2,715	SH		OTR	0	0	0	0
ISHARES TR	FLTG RATE BD ETF	46429B655	223	4,420	SH		SOLE	0	0	0	0
PNC FINL SVCS GROUP INC	COM	693475105	225	2,775	SH		OTR	0	0	0	0
SCHLUMBERGER LTD	COM	806857108	225	2,857	SH		OTR	0	0	0	0
SCHWAB STRATEGIC TR	COM	808524862	226	4,435	SH		OTR	0	0	0	0
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	228	3,012	SH		SOLE	0	0	0	0
PHILIP MORRIS INTL INC	COM	718172109	235	2,315	SH		OTR	0	0	0	0
VANGUARD INTL EQUITY INDEX F	TT WRLD ST ETF	922042742	235	4,059	SH		SOLE	0	0	0	0
SSGA ACTIVE ETF TR	ULT SHT TRM BD	78467V707	240	6,000	SH		SOLE	0	0	0	0
COMERICA INC	COM	200340107	244	5,933	SH		OTR	0	0	0	0
VANGUARD INDEX FDS	REIT ETF	922908553	244	2,761	SH		SOLE	0	0	0	0
WISDOMTREE TR	COM	97717W786	247	6,540	SH		OTR	0	0	0	0
EXELON CORP	COM	30161N101	262	7,210	SH		OTR	0	0	0	0
INTEL CORP	COM	458140100	265	8,090	SH		OTR	0	0	0	0
FIRST TR EXCHANGE TRADED FD	INDLS PROD DUR	33734X150	270	9,870	SH		SOLE	0	0	0	0
CISCO SYS INC	COM	17275R102	271	9,452	SH		OTR	0	0	0	0
VANGUARD INTL EQUITY INDEX F	FTSE EUROPE ETF	922042874	298	6,386	SH		SOLE	0	0	0	0
MERCK & CO INC NEW	COM	58933Y105	302	5,253	SH		OTR	0	0	0	0
PIMCO ETF TR	INTER MUN BD ST	72201R866	304	5,527	SH		SOLE	0	0	0	0
COMMUNITY BK	COM	203607106	307	7,488	SH		OTR	0	0	0	0
ALTRIA GROUP INC	COM	02209S103	309	4,485	SH		OTR	0	0	0	0
JPMORGAN CHASE & CO	COM	46625H100	320	5,150	SH		OTR	0	0	0	0
SCHWAB STRATEGIC TR	US REIT ETF	808524847	321	7,402	SH		SOLE	0	0	0	0
ISHARES TR	S&P 500 GRWT ETF	464287309	326	3,838	SH		SOLE	0	0	0	0
PFIZER INC	COM	717081103	330	9,375	SH		OTR	0	0	0	0
ISHARES TR	S&P 500 GRWT ETF	464287309	331	2,844	SH		SOLE	0	0	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	332	2,299	SH		SOLE	0	0	0	0
VANGUARD WHITEHALL FDS INC	HIGH DIV YLD	921946406	334	4,687	SH		SOLE	0	0	0	0
CHOICE HOTELS	COM	169905106	336	7,063	SH		OTR	0	0	0	0
ISHARES	SHRT TRS BD ETF	464288679	336	3,048	SH		SOLE	0	0	0	0
VANGUARD BD INDEX FD INC	SHORT TRM BOND	921937827	338	4,180	SH		SOLE	0	0	0	0
DISNEY WALT CO	COM	254687106	340	3,476	SH		SOLE	0	0	0	0
CHEVRON CORP	COM	166764100	355	3,386	SH		OTR	0	0	0	0
SCHWAB STRATEGIC TR	US MID-CAP ETF	808524508	361	8,611	SH		SOLE	0	0	0	0
ISHARES TR	DJ PHARMA	464288836	380	2,635	SH		SOLE	0	0	0	0
COLGATE PALMOLIVE CO	COM	194162103	392	5,367	SH		OTR	0	0	0	0
VANGUARD INDEX FDS	GROWTH ETF	922908736	397	3,706	SH		SOLE	0	0	0	0
VANGUARD INDEX FDS	SMALL CP ETF	922908751	417	3,613	SH		SOLE	0	0	0	0
ISHARES TR	N AMER TECH ETF	464287549	428	3,899	SH		SOLE	0	0	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	440	7,885	SH		OTR	0	0	0	0
MCCORMICK & CO INC	COM	579780107	451	4,256	SH		OTR	0	0	0	0
VANGUARD INDEX FDS	MCAP VL IDXVIP	922908512	456	5,126	SH		SOLE	0	0	0	0
SOUTHERN CO	COM	842587107	466	8,690	SH		OTR	0	0	0	0
SCHWAB STRAT	INTRM TRM TRES	808524854	486	8,690	SH		SOLE	0	0	0	0
ISHARES TR	CORE TOTUSBD ETF	464287226	493	4,383	SH		SOLE	0	0	0	0
VANGUARD INDEX FDS	S&P 500 ETF SHS	922908363	501	2,610	SH		SOLE	0	0	0	0
AMGEN INC	COM	031162100	519	3,414	SH		OTR	0	0	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	531	2,539	SH		SOLE	0	0	0	0
SPDR SERIES TRST	S&P INS ETF	78464A789	532	7,486	SH		SOLE	0	0	0	0
SELECT SPDR TR	INT-ENERGY	81369Y506	42,048	616,180	SH		SOLE	0	0	0	0
SELECT SPDR TR	INT-FINL	81369Y605	73,997	3,237,669	SH		SOLE	0	0	0	0
SPDR SERIES TRUST	BRCLYS LG TRS ET	78464A664	532	6,671	SH		SOLE	0	0	0	0
SELECT SPDR TR	INT-INDS	81369Y704	32,186	574,653	SH		SOLE	0	0	0	0
NEXTERA ENERGY INC	COM	65339F101	540	4,148	SH		OTR	0	0	0	0
SELECT SPDR TR	CONS STPLS	81369Y308	118,644	2,151,299	SH		SOLE	0	0	0	0
SELECT SPDR TR	INT-UTILS	81369Y886	63,158	1,203,713	SH		SOLE	0	0	0	0
SELECT SECTOR SPDR TR	SBI HEALTHCARE	81369Y209	2,179	30,392	SH		SOLE	0	0	0	0
SELECT SPDR TR	CONS DISCR	81369Y407	58,822	753,551	SH		SOLE	0	0	0	0
ISHARES TR	DJ HEALTH CARE	464288828	609	4,787	SH		SOLE	0	0	0	0
EXXON MOBIL	COM	30231G102	1,838	19,607	SH		OTR	0	0	0	0
ISHARES TR	S&P NA SOFTWR	464287515	647	6,158	SH		SOLE	0	0	0	0
AMERICAN ELEC PWR INC	COM	025537101	664	9,487	SH		OTR	0	0	0	0
VANGUARD INDEX FDS	TOTAL STK MKT	922908769	678	6,327	SH		SOLE	0	0	0	0
IBM	COM	459200101	701	4,621	SH		OTR	0	0	0	0
VANGUARD WORLD FDS	TELCOMM ETF	92204A884	704	7,164	SH		SOLE	0	0	0	0
MCCORMICK & CO INC	COM	579780206	725	6,798	SH		OTR	0	0	0	0
CVS CAREMARK	COM	126650100	751	7,849	SH		OTR	0	0	0	0
RYDEX ETF TRUST	GUG S&P500EQWTTE	78355W817	865	9,227	SH		SOLE	0	0	0	0
ISHARES TR	SOX SEMICND	464287523	898	9,599	SH		SOLE	0	0	0	0
ISHARES TR	BARCLYS MBS BD	464288588	922	8,386	SH		SOLE	0	0	0	0
ISHARES TR	US HLTHCARE ETF	464287762	959	6,472	SH		SOLE	0	0	0	0
GOOGLE INC	CL A	38259P508	2,902	4,161	SH		SOLE	0	0	0	0
ISHARES TR	CORE S&P500 ETF	464287200	1,850	8,789	SH		SOLE	0	0	0	0