Kendall Capital Management 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
Abbvie Inc	COM	00287Y109	2,899	30,654	SH		SOLE		0	0	30,654
Accenture Plc	SHS CLASS A	G1151C101	1,377	8,090	SH		SOLE		0	0	8,090
Adient Plc	ORD SH	G0084W101	295	7,505	SH		SOLE		0	0	7,505
Aes Corp	COM	00130H105	1,523	108,775	SH		SOLE		0	0	108,775
Amc Networks Inc	CL A	00164V103	421	6,345	SH		SOLE		0	0	6,345
Amerisourcebergen Corporation	COM	03073E105	597	6,470	SH		SOLE		0	0	6,470
Amgen Inc.	COM	031162100	1,576	7,603	SH		SOLE		0	0	7,603
Apple Inc.	COM	037833100	1,499	6,641	SH		SOLE		0	0	6,641
Aptiv PLC	SHS	G6095L109	1,032	12,298	SH		SOLE		0	0	12,298
Arris International Plc	SHS	G0551A103	679	26,140	SH		SOLE		0	0	26,140
Astrazeneca Plc	SPONSORED ADR	046353108	280	7,065	SH		SOLE		0	0	7,065
At&T Inc.	COM	00206R102	380	11,325	SH		SOLE		0	0	11,325
Bgc Partners, Incorporation	CL A	05541T101	1,729	146,285	SH		SOLE		0	0	146,285
Borgwarner Inc.	COM	099724106	460	10,755	SH		SOLE		0	0	10,755
Bristol-Myers Squibb Company	COM	110122108	360	5,800	SH		SOLE		0	0	5,800
Broadcom Ltd	COM	11135F101	2,570	10,418	SH		SOLE		0	0	10,418
Carlyle Group Lp	COM UTS LTD PTN	14309L102	221	9,800	SH		SOLE		0	0	9,800
CBRE Group Inc- A	CL A	12504L109	816	18,510	SH		SOLE		0	0	18,510
Cdw Corp	COM	12514G108	1,413	15,890	SH		SOLE		0	0	15,890
Cisco Systems Incorporated	COM	17275R102	1,047	21,522	SH		SOLE		0	0	21,522
Commscope Holding Company Inc	COM	20337X109	832	27,050	SH		SOLE		0	0	27,050
Compass Diversified	SH BEN INT	20451Q104	374	20,600	SH		SOLE		0	0	20,600
Constellation Brands, Inc.	CL A	21036P108	957	4,437	SH		SOLE		0	0	4,437
CVS Health Corp	COM	126650100	2,016	25,607	SH		SOLE		0	0	25,607
Danaher Corporation	COM	235851102	394	3,625	SH		SOLE		0	0	3,625
Darling Ingredients Inc	COM	237266101	675	34,950	SH		SOLE		0	0	34,950
Delta Air Lines Inc	COM NEW	247361702	1,953	33,775	SH		SOLE		0	0	33,775
Discover Financial Services	COM	254709108	692	9,050	SH		SOLE		0	0	9,050
Extended Stay America Inc	UNIT 99/99/9999B	30224P200	1,547	76,475	SH		SOLE		0	0	76,475
Exxon Mobil Corporation	COM	30231G102	882	10,370	SH		SOLE		0	0	10,370
Fidelity National Information	COM	31620M106	1,021	9,360	SH		SOLE		0	0	9,360
Fiserv, Inc.	COM	337738108	2,205	26,765	SH		SOLE		0	0	26,765
Gilead Sciences, Inc.	COM	375558103	490	6,346	SH		SOLE		0	0	6,346
Global Payments Inc.	COM	37940X102	1,241	9,741	SH		SOLE		0	0	9,741
Greenbrier Companies, Inc.	COM	393657101	242	4,025	SH		SOLE		0	0	4,025
Hanesbrands, Inc.	COM	410345102	546	29,630	SH		SOLE		0	0	29,630
Hca Healthcare Inc	COM	40412C101	1,148	8,250	SH		SOLE		0	0	8,250
Hospitality Properties Trust	COM SH BEN INT	44106M102	1,039	36,040	SH		SOLE		0	0	36,040
Host Hotels & Resorts, Inc.	COM	44107P104	953	45,150	SH		SOLE		0	0	45,150
Huntington Bancshares Inc.	COM	446150104	324	21,710	SH		SOLE		0	0	21,710
Intel Corporation	COM	458140100	1,694	35,820	SH		SOLE		0	0	35,820
International Business Machine	COM	459200101	733	4,846	SH		SOLE		0	0	4,846
Intl Game Tech	SHS USD	G4863A108	922	46,690	SH		SOLE		0	0	46,690
IQVIA HOLDINGS INC COM	COM	46266C105	595	4,585	SH		SOLE		0	0	4,585
J2 Global Inc	COM	48123V102	324	3,910	SH		SOLE		0	0	3,910
Johnson & Johnson	COM	478160104	461	3,333	SH		SOLE		0	0	3,333
Kar Auction Services Incorporation	COM	48238T109	835	13,990	SH		SOLE		0	0	13,990
Kla-Tencor Corp	COM	482480100	1,430	14,055	SH		SOLE		0	0	14,055
Lear Corporation	COM NEW	521865204	1,016	7,010	SH		SOLE		0	0	7,010
Legg Mason Incorporated	COM	524901105	1,378	44,117	SH		SOLE		0	0	44,117
Lincoln National Corporation	COM	534187109	911	13,460	SH		SOLE		0	0	13,460
Lyondellbasell Industries Nv	SHS - A -	N53745100	2,677	26,115	SH		SOLE		0	0	26,115
Magna International Inc	COM	559222401	1,139	21,690	SH		SOLE		0	0	21,690
Marriott International, Inc.	CL A	571903202	2,206	16,705	SH		SOLE		0	0	16,705
Mastercard, Inc.	CL A	57636Q104	970	4,357	SH		SOLE		0	0	4,357
Mckesson Corporation	COM	58155Q103	320	2,410	SH		SOLE		0	0	2,410
Merck & Co. , Inc.	COM	58933Y105	219	3,087	SH		SOLE		0	0	3,087
Moody'S Corporation	COM	615369105	354	2,120	SH		SOLE		0	0	2,120
Mylan Nv	SHS EURO	N59465109	202	5,525	SH		SOLE		0	0	5,525
Navient Corp	COM	63938C108	779	57,825	SH		SOLE		0	0	57,825
Norfolk Southern Corporation	COM	655844108	1,739	9,636	SH		SOLE		0	0	9,636
Norwegian Cruise Line Holdings	SHS	G66721104	986	17,170	SH		SOLE		0	0	17,170
Novartis Ag	SPONSORED ADR	66987V109	410	4,760	SH		SOLE		0	0	4,760
Old Line Bancshares	COM	67984M100	312	9,862	SH		SOLE		0	0	9,862
Omnicom Group Incorporated	COM	681919106	924	13,590	SH		SOLE		0	0	13,590
O'Reilly Automotive, Inc.	COM	67103H107	644	1,855	SH		SOLE		0	0	1,855
Pfizer Inc.	COM	717081103	1,607	36,455	SH		SOLE		0	0	36,455
Planet Fitness Inc	CL A	72703H101	249	4,605	SH		SOLE		0	0	4,605
Pra Health Sciences	COM	69354M108	965	8,755	SH		SOLE		0	0	8,755
Prudential Financial, Incorpor	COM	744320102	735	7,254	SH		SOLE		0	0	7,254
Qualcomm Incorporated	COM	747525103	320	4,440	SH		SOLE		0	0	4,440
Regeneron Pharmaceuticals Inc	COM	75886F107	270	669	SH		SOLE		0	0	669
Restaurant Brands International Inc.	COM	76131D103	875	14,765	SH		SOLE		0	0	14,765
Revere Bank	0	761402106	352	11,354	SH		SOLE		0	0	11,354
Roper Technologies	COM	776696106	204	688	SH		SOLE		0	0	688
Ryman Hospitality Properties I	COM	78377T107	788	9,145	SH		SOLE		0	0	9,145
S&P Global Inc	COM	78409V104	1,642	8,406	SH		SOLE		0	0	8,406
SLM Corp	COM	78442P106	532	47,725	SH		SOLE		0	0	47,725
Stryker Corporation	COM	863667101	240	1,350	SH		SOLE		0	0	1,350
Target Corporation	COM	87612E106	325	3,685	SH		SOLE		0	0	3,685
Taylor Morrison Home Corp	CL A	87724P106	485	26,910	SH		SOLE		0	0	26,910
Thor Industries Incorporated	COM	885160101	431	5,150	SH		SOLE		0	0	5,150
Total Systems Services Inc	COM	891906109	681	6,895	SH		SOLE		0	0	6,895
Trimble Inc	COM	896239100	655	15,070	SH		SOLE		0	0	15,070
Ugi Corporation	COM	902681105	950	17,130	SH		SOLE		0	0	17,130
Union Pacific Corporation	COM	907818108	846	5,193	SH		SOLE		0	0	5,193
United Rentals, Inc.	COM	911363109	1,638	10,012	SH		SOLE		0	0	10,012
United Therapeutics Corporatio	COM	91307C102	216	1,690	SH		SOLE		0	0	1,690
Valero Energy Corporation	COM	91913Y100	3,119	27,424	SH		SOLE		0	0	27,424
Verizon Communications	COM	92343V104	277	5,185	SH		SOLE		0	0	5,185
Vse Corporation	COM	918284100	5,295	159,833	SH		SOLE		0	0	159,833
Walgreens Boots Alliance Inc	COM	931427108	1,077	14,778	SH		SOLE		0	0	14,778
Western Union Company	COM	959802109	826	43,330	SH		SOLE		0	0	43,330
Xpo Logistics Inc	COM	983793100	869	7,610	SH		SOLE		0	0	7,610
ETFS Physical Silver	SILVER SHS	26922X107	173	12,132	SH		SOLE		0	0	12,132
iShares Russell 1000 Growth ETF	RUS 1000 GRW ETF	464287614	1,131	7,250	SH		SOLE		0	0	7,250
iShares S&P Mid-Cap 400 Growth ETF	S&P MC 400GR ETF	464287606	345	1,481	SH		SOLE		0	0	1,481
iShares S&P Small-Cap 600 Value ETF	SP SMCP600VL ETF	464287879	347	2,079	SH		SOLE		0	0	2,079
PowerShares DB G10 Currency Harvest ETF	UNIT	46139B102	361	15,105	SH		SOLE		0	0	15,105
PowerShares Emerg Mkts Sov Dbt ETF	EMRNG MKT SVRG	46138E784	209	7,753	SH		SOLE		0	0	7,753
PowerShares S&P 500 Low Volatility ETF	S&P500 LOW VOL	46138E354	1,109	22,400	SH		SOLE		0	0	22,400
VanEck Vectors BDC Income ETF	BDC INCOME ETF	92189F411	185	10,845	SH		SOLE		0	0	10,845
Vanguard FTSE Emerg Mkts ETF	FTSE EMR MKT ETF	922042858	361	8,804	SH		SOLE		0	0	8,804
Vanguard FTSE Europe ETF	FTSE EUROPE ETF	922042874	8,716	155,040	SH		SOLE		0	0	155,040
Vanguard Large-Cap ETF	LARGE CAP ETF	922908637	3,044	22,800	SH		SOLE		0	0	22,800
Vanguard Mid Value ETF	MCAP VL IDXVIP	922908512	5,411	47,856	SH		SOLE		0	0	47,856
Vanguard Mid-Cap ETF	MID CAP ETF	922908629	2,689	16,375	SH		SOLE		0	0	16,375
Vanguard Small-Cap ETF	SMALL CP ETF	922908751	302	1,860	SH		SOLE		0	0	1,860
WisdomTree US Total Dividend ETF	US TOTAL DIVIDND	97717W109	1,733	18,040	SH		SOLE		0	0	18,040