Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
VUG	VANGUARD INDEX FDS	206,947	$27.47M	8.3%	$127.04	—	GROWTH ETF	922908736
—	ARROW INVTS TR	1,215,935	$24.35M	7.3%	$20.02	—	RESV CAP MGMT	042765776
MTUM	ISHARES TR	216,148	$20.68M	6.2%	$88.89	—	USA MOMENTUM FCT	46432F396
XLK	SELECT SECTOR SPDR TR	343,941	$20.33M	6.1%	$48.09	—	TECHNOLOGY	81369Y803
FEX	FIRST TR LRGE CP CORE ALPHA	355,412	$19.52M	5.9%	$53.16	—	COM SHS	33734K109
XLF	SELECT SECTOR SPDR TR	752,423	$19.46M	5.9%	$23.25	—	SBI INT-FINL	81369Y605
EZU	ISHARES INC	449,146	$19.46M	5.9%	$40.32	—	MSCI EURZONE ETF	464286608
EEM	ISHARES TR	429,069	$19.23M	5.8%	$41.39	—	MSCI EMG MKT ETF	464287234
IEV	ISHARES TR	398,281	$18.67M	5.6%	$44.32	—	EUROPE ETF	464287861
XLV	SELECT SECTOR SPDR TR	223,212	$18.24M	5.5%	$81.73	—	SBI HEALTHCARE	81369Y209
DEM	WISDOMTREE TR	416,822	$17.92M	5.4%	$43.00	—	EMER MKT HIGH FD	97717W315
TLT	ISHARES TR	91,091	$11.37M	3.4%	$125.12	—	20 YR TR BD ETF	464287432
HYG	ISHARES TR	107,848	$9.573M	2.9%	$88.39	—	IBOXX HI YD ETF	464288513
ANGL	VANECK VECTORS ETF TR	267,742	$8.115M	2.4%	$29.59	—	FALLEN ANGEL HG	92189F437
VOT	VANGUARD INDEX FDS	61,973	$7.545M	2.3%	$117.69	—	MCAP GR IDXVIP	922908538
CWB	SPDR SERIES TRUST	92,770	$4.738M	1.4%	$48.10	—	BLMBRG BRC CNVRT	78464A359
EWO	ISHARES INC	199,185	$4.665M	1.4%	$18.39	—	AUSTRIA CAPD ETF	464286202
EWN	ISHARES INC	143,864	$4.516M	1.4%	$28.93	—	MSCI NETHERL ETF	464286814
EWT	ISHARES INC	121,872	$4.4M	1.3%	$30.47	—	MSCI TAIWAN ETF	46434G772
EMB	ISHARES TR	37,632	$4.381M	1.3%	$113.70	—	JPMORGAN USD EMG	464288281
EWY	ISHARES INC	62,399	$4.309M	1.3%	$53.49	—	MSCI STH KOR ETF	464286772
EWP	ISHARES INC	127,587	$4.305M	1.3%	$32.84	—	MSCI SPAN CP ETF	464286764
LQD	ISHARES TR	34,976	$4.24M	1.3%	$117.91	—	IBOXX INV CP ETF	464287242
IHY	VANECK VECTORS ETF TR	114,000	$2.937M	0.9%	$25.76	—	INTL HIGH YIELD	92189F445
BBY	BEST BUY INC	18,242	$1.039M	0.3%	$30.77	+37.4%	COM	086516101
HRB	BLOCK H & R INC	37,206	$985K	0.3%	$20.97	0.0%	COM	093671105
—	GUESS INC	56,277	$958K	0.3%	$12.78	—	COM	401617105
SDLPEUR	SEADRILL PARTNERS LLC	228,426	$847K	0.3%	$5.82	—	COMUNIT REP LB	Y7545W109
—	GOLAR LNG PARTNERS LP	36,356	$845K	0.3%	$16.47	—	COM UNIT LPI	Y2745C102
—	ALLIANCE HOLDINGS GP LP	30,277	$842K	0.3%	$18.77	—	COM UNITS LP	01861G100
—	CRESTWOOD EQUITY PARTNERS LP	34,120	$833K	0.3%	$19.55	—	UNIT LTD PARTNER	226344208
—	AMERICAN MIDSTREAM PARTNERS	61,044	$833K	0.3%	$9.35	—	COM UNITS	02752P100
—	TEEKAY OFFSHORE PARTNERS L P	339,180	$807K	0.2%	$3.49	—	PARTNERSHIP UN	Y8565J101
CAPL	CROSSAMERICA PARTNERS LP	29,523	$805K	0.2%	$25.60	—	UT LTD PTN INT	22758A105
—	GREEN PLAINS PARTNERS LP	39,844	$801K	0.2%	$18.90	—	COM REP PTR IN	393221106
—	PBF LOGISTICS LP	37,746	$793K	0.2%	$21.01	—	UNIT LTD PTNR	69318Q104
SPH	SUBURBAN PROPANE PARTNERS L	29,829	$778K	0.2%	$37.90	—	UNIT LTD PARTN	864482104
USAC	USA COMPRESSION PARTNERS LP	45,272	$757K	0.2%	$16.40	—	COMUNIT LTDPAR	90290N109
—	CAPITAL PRODUCT PARTNERS L P	215,221	$753K	0.2%	$5.55	—	COM UNIT LP	Y11082107
KNOP	KNOT OFFSHORE PARTNERS LP	32,010	$752K	0.2%	$11.48	+3.9%	COM UNITS	Y48125101
SUN	SUNOCO LP	24,016	$747K	0.2%	$30.61	—	COM U REP LP	86765K109
—	ENBRIDGE ENERGY PARTNERS L P	46,690	$746K	0.2%	$16.00	—	COM	29250R106
—	SUNCOKE ENERGY PARTNERS L P	42,035	$723K	0.2%	$7.72	—	COMUNIT REP LT	86722Y101
DKL	DELEK LOGISTICS PARTNERS LP	22,972	$718K	0.2%	$32.67	—	COM UNT RP INT	24664T103
—	SANCHEZ MIDSTREAM PARTNERS L	63,160	$711K	0.2%	$12.44	—	COM UNITS REP B	79971C201
GLP	GLOBAL PARTNERS LP	40,807	$710K	0.2%	$24.87	—	COM UNITS	37946R109
DLNG	DYNAGAS LNG PARTNERS LP	50,039	$698K	0.2%	$15.03	—	COM UNIT LTD PT	Y2188B108
—	CHESAPEAKE LODGING TR	25,848	$697K	0.2%	$24.47	—	SH BEN INT	165240102
RLJ	RLJ LODGING TR	31,640	$696K	0.2%	$20.07	—	COM	74965L101
XHR	XENIA HOTELS & RESORTS INC	32,750	$689K	0.2%	$19.38	—	COM	984017103
CNA	CNA FINL CORP	13,700	$688K	0.2%	$25.12	+10.0%	COM	126117100
—	WADDELL & REED FINL INC	34,200	$686K	0.2%	$18.87	—	CL A	930059100
—	SUMMIT MIDSTREAM PARTNERS LP	34,052	$681K	0.2%	$22.29	—	COM UNIT LTD	866142102
—	ASHFORD HOSPITALITY TR INC	101,854	$679K	0.2%	$6.20	—	COM SHS	044103109
—	NUSTAR ENERGY LP	16,678	$677K	0.2%	$51.36	—	UNIT COM	67058H102
IRT	INDEPENDENCE RLTY TR INC	66,173	$673K	0.2%	$9.87	—	COM	45378A106
—	WASHINGTON PRIME GROUP NEW	80,246	$668K	0.2%	$11.13	—	COM	93964W108
—	CBL & ASSOC PPTYS INC	77,525	$650K	0.2%	$10.78	—	COM	124830100
MMLP	MARTIN MIDSTREAM PRTNRS L P	41,684	$648K	0.2%	$27.87	—	UNIT L P INT	573331105
APLE	APPLE HOSPITALITY REIT INC	34,127	$645K	0.2%	$18.72	—	COM NEW	03784Y200
FSP	FRANKLIN STREET PPTYS CORP	58,893	$625K	0.2%	$12.10	—	COM	35471R106
—	HOSPITALITY PPTYS TR	21,700	$618K	0.2%	$28.15	—	COM SH BEN INT	44106M102
—	LASALLE HOTEL PPTYS	21,118	$613K	0.2%	$29.82	—	COM SH BEN INT	517942108
—	SENIOR HSG PPTYS TR	29,950	$586K	0.2%	$22.30	—	SH BEN INT	81721M109
—	STONEMOR PARTNERS L P	79,894	$521K	0.2%	$12.43	—	COM UNITS INT	86183Q100
—	CENTURYLINK INC	26,881	$508K	0.2%	$31.36	—	COM	156700106
GLW	CORNING INC	16,231	$486K	0.1%	$20.97	+12.5%	COM	219350105
MGM	MGM RESORTS INTERNATIONAL	14,711	$479K	0.1%	$30.64	0.0%	COM	552953101
—	DUKE REALTY CORP	15,773	$455K	0.1%	$28.85	—	COM NEW	264411505