Pinnacle Advisory Group

Pinnacle Advisory as of Dec. 31, 2013

Portfolio Holdings for Pinnacle Advisory

Pinnacle Advisory holds 94 positions in its portfolio as reported in the December 2013 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Consumer Discretionary SPDR (XLY) 20.7 $177M 2.6M 66.83
Industrial SPDR (XLI) 9.5 $81M 1.6M 52.26
Energy Select Sector SPDR (XLE) 7.7 $66M 744k 88.51
Vanguard Health Care ETF (VHT) 7.2 $61M 606k 101.10
Consumer Staples Select Sect. SPDR (XLP) 6.5 $55M 1.3M 42.98
SPDR KBW Insurance (KIE) 4.6 $39M 624k 63.09
Financial Select Sector SPDR (XLF) 4.5 $39M 1.8M 21.86
WisdomTree Japan Total Dividend (DXJ) 4.3 $37M 720k 50.84
iShares Russell 2000 Index (IWM) 4.1 $35M 302k 115.36
iShares S&P NA Tec.-SW. Idx. Fund (IGV) 4.0 $35M 421k 82.07
Rydex S&P Equal Weight Technology 3.7 $32M 413k 77.07
iShares S&P NA Tec. Semi. Idx (SOXX) 3.4 $29M 401k 72.71
SPDR KBW Regional Banking (KRE) 3.1 $27M 660k 40.61
iShares Dow Jones US Home Const. (ITB) 3.0 $26M 1.0M 24.82
iShares MSCI United Kingdom Index 2.7 $23M 1.1M 20.88
Materials SPDR (XLB) 1.9 $16M 353k 46.22
PowerShares Dynamic Software 1.0 $8.4M 231k 36.12
Market Vectors Steel 0.8 $6.6M 132k 49.71
Spdr S&p 500 Etf (SPY) 0.6 $5.5M 30k 184.68
First Trust Ind/Prod AlphaDEX (FXR) 0.6 $4.7M 166k 28.39
Claymore Exchange Trd Fd Tr gugg shippng etf 0.6 $4.7M 219k 21.59
Exxon Mobil Corporation (XOM) 0.5 $4.5M 44k 101.20
Google 0.3 $2.6M 2.3k 1120.34
Health Care SPDR (XLV) 0.2 $2.0M 37k 55.43
iShares Dow Jones US Pharm Indx (IHE) 0.2 $2.0M 17k 118.06
SPDR Gold Trust (GLD) 0.2 $1.8M 15k 116.08
Utilities SPDR (XLU) 0.2 $1.7M 46k 37.96
SPDR S&P Metals and Mining (XME) 0.2 $1.7M 42k 42.05
SPDR S&P MidCap 400 ETF (MDY) 0.2 $1.6M 8.2k 200.93
iShares S&P NA Tec.-Mul. Net. Idx. (IDGT) 0.1 $1.2M 39k 32.16
CTPartners Executive Search (CTPR) 0.1 $1.2M 215k 5.60
Rydex Russell Top 50 ETF 0.1 $1.1M 8.7k 129.86
SPDR S&P Oil & Gas Explore & Prod. 0.1 $904k 13k 68.43
iShares S&P Europe 350 Index (IEV) 0.1 $930k 20k 47.43
Microsoft Corporation (MSFT) 0.1 $761k 20k 37.38
Johnson & Johnson (JNJ) 0.1 $743k 8.1k 91.54
General Electric Company 0.1 $734k 26k 28.00
iShares Russell 2000 Growth Index (IWO) 0.1 $731k 5.4k 135.50
SPDR S&P Pharmaceuticals (XPH) 0.1 $765k 8.7k 87.94
Rydex Etf Trust indls etf 0.1 $732k 8.9k 81.83
Proctor & Gamble 0.1 $785k 9.6k 81.40
International Business Machines (IBM) 0.1 $645k 3.4k 187.50
Berkshire Hathaway (BRK.B) 0.1 $601k 5.1k 118.54
Wal-Mart Stores (WMT) 0.1 $567k 7.2k 78.55
iShares MSCI Emerging Markets Indx (EEM) 0.1 $538k 13k 41.72
Chevron Corporation (CVX) 0.1 $511k 4.1k 124.79
Dominion Resources (D) 0.1 $524k 8.1k 64.60
Intel Corporation (INTC) 0.1 $540k 21k 25.93
MetLife (MET) 0.1 $538k 10k 53.84
Powershares Etf Trust dyn semct port 0.1 $528k 28k 18.87
Wisdomtree Tr intl hedge eqt (HEDJ) 0.1 $554k 10k 55.34
3M Company (MMM) 0.1 $468k 3.3k 140.12
CVS Caremark Corporation (CVS) 0.1 $449k 6.3k 71.53
Amgen (AMGN) 0.1 $449k 3.9k 113.90
Apple (AAPL) 0.1 $464k 828.00 560.39
Rydex S&P Equal Weight ETF 0.1 $397k 9.1k 43.56
iShares Dow Jones US Consumer Goods (IYK) 0.1 $458k 7.5k 61.39
iShares Dow Jones US Health Care (IHF) 0.1 $419k 4.5k 93.21
Global X Fds ftse greec 0.1 $469k 21k 22.49
Pfizer (PFE) 0.0 $309k 10k 30.61
Colgate-Palmolive Company (CL) 0.0 $330k 5.1k 65.19
Merck & Co (MRK) 0.0 $352k 7.0k 49.94
Vanguard Telecommunication Services ETF (VOX) 0.0 $376k 4.5k 83.46
Schwab International Equity ETF (SCHF) 0.0 $328k 10k 31.47
American Express Company (AXP) 0.0 $284k 3.1k 90.45
Bank of America Corporation (BAC) 0.0 $219k 14k 15.50
At&t (T) 0.0 $289k 8.2k 35.12
PPG Industries (PPG) 0.0 $232k 1.2k 188.93
T. Rowe Price (TROW) 0.0 $251k 3.0k 83.67
Verizon Communications (VZ) 0.0 $258k 5.3k 49.04
Philip Morris International (PM) 0.0 $215k 2.5k 87.08
American Electric Power Company (AEP) 0.0 $260k 5.6k 46.71
iShares MSCI EAFE Index Fund (EFA) 0.0 $239k 3.6k 67.04
Bp Plc-spons 0.0 $291k 6.0k 48.48
Choice Hotels International (CHH) 0.0 $286k 5.8k 48.95
Community Bank System (CBU) 0.0 $297k 7.5k 39.66
URS Corporation 0.0 $215k 4.1k 52.96
iShares S&P MidCap 400 Index (IJH) 0.0 $215k 1.8k 121.47
DigitalGlobe 0.0 $227k 5.5k 41.11
SPDR KBW Bank (KBE) 0.0 $233k 7.0k 33.12
Ipath Dow Jones-aig Commodity (DJP) 0.0 $250k 6.8k 36.71
MSCI Europe Financials Sector Index Fund (EUFN) 0.0 $272k 11k 25.08
First Trust Amex Biotech Index Fnd (FBT) 0.0 $246k 5.4k 45.77
PowerShares Dynamic Market 0.0 $267k 5.8k 45.96
Ubs Ag Jersey Brh fund 0.0 $283k 14k 20.40
Workday Inc cl a (WDAY) 0.0 $236k 2.8k 83.13
Charles Schwab Corporation (SCHW) 0.0 $173k 15k 11.59
Walt Disney Company (DIS) 0.0 $209k 2.7k 76.19
Rock-Tenn Company 0.0 $169k 13k 13.38
PowerShares WilderHill Clean Energy 0.0 $213k 34k 6.37
Ciber 0.0 $80k 19k 4.12
Intersections 0.0 $116k 15k 7.73
Sandstorm Gold 0.0 $52k 73k 0.71
Sandstorm Gold (SAND) 0.0 $36k 150k 0.24