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Institutional Investment Manager
Pinnacle Advisory Group, Inc.
Pinnacle Advisory Group, Inc. (CIK: 0001504404) incorporated in Maryland, located at 6345 Woodside Court, Columbia, MD. Institutional holdings reported to the SEC.

Institutional Holdings (2016Q4)
Portfolio Summary: 189 holdings with a total value of $1,476,400,000.
#
Name
Shares
Value ($)
%
Options
Notes
151 PIMCO ETF TR 2,795 286,000 0.02%
152 CISCO SYS INC 9,440 285,000 0.02%
153 ISHARES TR 3,164 284,000 0.02%
154 VANGUARD INTL EQUITY INDEX F 6,285 278,000 0.02%
155 VANGUARD WORLD FDS 2,773 278,000 0.02%
156 UBS AG JERSEY BRH 19,595 278,000 0.02%
157 MCDONALDS CORP 2,255 275,000 0.02%
158 LAMAR ADVERTISING CO NEW CL A 3,990 268,000 0.02%
159 Spectra Energy Corp Com 6,311 259,000 0.02%
160 WELLTOWER INC 3,875 259,000 0.02%
161 ISHARES TR 4,488 259,000 0.02%
162 ISHARES TR 3,057 258,000 0.02%
163 EXELON CORP 7,216 256,000 0.02%
164 ISHARES TR 1,890 255,000 0.02%
165 WISDOMTREE TR 5,125 254,000 0.02%
166 BLACKROCK MUN 2030 TAR TERM 11,420 249,000 0.02%
167 ISHARES TR 9,749 243,000 0.02%
168 SPDR SER TR 4,085 242,000 0.02%
169 SPDR SSgA Ultra Short Bond ETF 6,000 241,000 0.02%
170 WAL-MART STORES INC 3,470 240,000 0.02%
171 BOEING CO 1,521 237,000 0.02%
172 POWERSHARES ACT MANG COMM FD 13,138 227,000 0.02%
173 AMAZON COM INC 303 227,000 0.02%
174 SPDR SERIES TRUST 10,032 224,000 0.02%
175 PHILLIPS 66 2,594 224,000 0.02%
176 FACEBOOK INC 1,921 221,000 0.01%
177 VANGUARD INTL EQUITY INDEX F 6,190 221,000 0.01%
178 IDACORP INC 2,715 219,000 0.01%
179 ROYAL DUTCH SHELL PLC 3,745 217,000 0.01%
180 COCA COLA CO 5,229 217,000 0.01%
181 ADOBE INC 2,092 215,000 0.01%
182 SPDR DOW JONES INDL AVRG ETF 1,076 213,000 0.01%
183 DBX ETF TR 7,482 210,000 0.01%
184 ISHARES RUSSELL 1000 ETF 1,650 205,000 0.01%
185 ISHARES INC 4,741 201,000 0.01%
186 FORD MTR CO DEL 13,931 169,000 0.01%
187 PENNEY J C 15,200 126,000 0.01%
188 POWERSHARES ETF WILDER HILL CLEAN ENERGY PORTFOLIO 33,460 123,000 0.01%
189 CIBER INC 19,434 12,000 0.00%
Page 4 of 4

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001504404-17-000001, filed 2017.01.17).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.