Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ARCM	ARROW INVTS TR	583,187	$58.45M	16.3%	$100.22	—	RESV CAP ETF	042765719
VUG	VANGUARD INDEX FDS	189,804	$26.7M	7.4%	$127.04	—	GROWTH ETF	922908736
MTUM	ISHARES TR	208,407	$21.49M	6.0%	$88.89	—	USA MOMENTUM FCT	46432F396
XLK	SELECT SECTOR SPDR TR	331,622	$21.21M	5.9%	$48.09	—	TECHNOLOGY	81369Y803
XLF	SELECT SECTOR SPDR TR	725,475	$20.25M	5.6%	$23.25	—	SBI INT-FINL	81369Y605
EEM	ISHARES TR	413,702	$19.49M	5.4%	$41.39	—	MSCI EMG MKT ETF	464287234
VLUE	ISHARES TR	231,932	$19.39M	5.4%	$83.62	—	EDGE MSCI USA VL	46432F388
EWJ	ISHARES INC	316,049	$18.94M	5.3%	$59.93	—	MSCI JPN ETF NEW	46434G822
EZU	ISHARES INC	433,060	$18.79M	5.2%	$40.32	—	MSCI EURZONE ETF	464286608
XLB	SELECT SECTOR SPDR TR	296,699	$17.96M	5.0%	$60.53	—	SBI MATERIALS	81369Y100
IJT	ISHARES TR	105,092	$17.88M	5.0%	$170.15	—	S&P SML 600 GWT	464287887
SHY	ISHARES TR	164,648	$13.81M	3.8%	$83.85	—	1 3 YR TREAS BD	464287457
VOT	VANGUARD INDEX FDS	48,808	$6.234M	1.7%	$117.69	—	MCAP GR IDXVIP	922908538
TIP	ISHARES TR	49,535	$5.651M	1.6%	$114.08	—	TIPS BD ETF	464287176
EWY	ISHARES INC	68,458	$5.13M	1.4%	$55.39	—	MSCI STH KOR ETF	464286772
EWO	ISHARES INC	205,212	$5.056M	1.4%	$18.57	—	MSCI AUSTRIA ETF	464286202
MCHI	ISHARES TR	74,595	$4.964M	1.4%	$66.55	—	MSCI CHINA ETF	46429B671
LQD	ISHARES TR	38,036	$4.624M	1.3%	$118.21	—	IBOXX INV CP ETF	464287242
EWN	ISHARES INC	145,091	$4.604M	1.3%	$28.93	—	MSCI NETHERL ETF	464286814
EWI	ISHARES INC	149,311	$4.545M	1.3%	$30.44	—	MSCI ITALY ETF	46434G830
CWB	SPDR SERIES TRUST	88,116	$4.459M	1.2%	$48.10	—	BLMBRG BRC CNVRT	78464A359
HYG	ISHARES TR	41,100	$3.586M	1.0%	$88.39	—	IBOXX HI YD ETF	464288513
ANGL	VANECK VECTORS ETF TR	102,151	$3.059M	0.9%	$29.59	—	FALLEN ANGEL HG	92189F437
IHY	VANECK VECTORS ETF TR	99,581	$2.553M	0.7%	$25.76	—	INTL HIGH YIELD	92189F445
BBY	BEST BUY INC	17,165	$1.175M	0.3%	$30.77	+42.8%	COM	086516101
—	FLIR SYS INC	20,233	$943K	0.3%	$46.61	—	COM	302445101
DKL	DELEK LOGISTICS PARTNERS LP	23,972	$760K	0.2%	$32.63	—	COM UNT RP INT	24664T103
—	CRESTWOOD EQUITY PARTNERS LP	29,320	$756K	0.2%	$19.55	—	UNIT LTD PARTNER	226344208
—	WADDELL & REED FINL INC	33,700	$753K	0.2%	$18.87	—	CL A	930059100
USAC	USA COMPRESSION PARTNERS LP	45,272	$749K	0.2%	$16.40	—	COMUNIT LTDPAR	90290N109
—	STONEMOR PARTNERS L P	114,194	$749K	0.2%	$10.67	—	COM UNITS INT	86183Q100
—	SANCHEZ MIDSTREAM PARTNERS L	66,960	$743K	0.2%	$12.37	—	COM UNITS REP B	79971C201
—	SUNCOKE ENERGY PARTNERS L P	41,835	$730K	0.2%	$7.72	—	COMUNIT REP LT	86722Y101
—	GOLAR LNG PARTNERS LP	31,856	$726K	0.2%	$16.47	—	COM UNIT LPI	Y2745C102
—	AMERICAN MIDSTREAM PARTNERS	53,644	$716K	0.2%	$9.35	—	COM UNITS	02752P100
—	ALLIANCE HOLDINGS GP LP	26,677	$715K	0.2%	$18.77	—	COM UNITS LP	01861G100
—	PBF LOGISTICS LP	34,146	$715K	0.2%	$21.01	—	UNIT LTD PTNR	69318Q104
SPH	SUBURBAN PROPANE PARTNERS L	29,329	$710K	0.2%	$37.90	—	UNIT LTD PARTN	864482104
—	SUMMIT MIDSTREAM PARTNERS LP	34,252	$702K	0.2%	$22.29	—	COM UNIT LTD	866142102
SDLPEUR	SEADRILL PARTNERS LLC	191,626	$701K	0.2%	$5.82	—	COMUNIT REP LB	Y7545W109
GLP	GLOBAL PARTNERS LP	41,907	$700K	0.2%	$24.66	—	COM UNITS	37946R109
CNA	CNA FINL CORP	12,800	$679K	0.2%	$25.12	+16.5%	COM	126117100
—	CAPITAL PRODUCT PARTNERS L P	200,221	$673K	0.2%	$5.55	—	COM UNIT LP	Y11082107
—	GREEN PLAINS PARTNERS LP	35,544	$665K	0.2%	$18.90	—	COM REP PTR IN	393221106
—	GUESS INC	39,277	$663K	0.2%	$12.78	—	COM	401617105
—	TEEKAY OFFSHORE PARTNERS L P	278,480	$657K	0.2%	$3.49	—	PARTNERSHIP UN	Y8565J101
SUN	SUNOCO LP	23,116	$656K	0.2%	$30.61	—	COM U REP LP	86765K109
—	HOSPITALITY PPTYS TR	21,900	$654K	0.2%	$28.15	—	COM SH BEN INT	44106M102
FSP	FRANKLIN STREET PPTYS CORP	60,293	$648K	0.2%	$12.07	—	COM	35471R106
APLE	APPLE HOSPITALITY REIT INC	32,927	$646K	0.2%	$18.72	—	COM NEW	03784Y200
—	CHESAPEAKE LODGING TR	23,548	$638K	0.2%	$24.47	—	SH BEN INT	165240102
—	ASHFORD HOSPITALITY TR INC	94,854	$638K	0.2%	$6.20	—	COM SHS	044103109
XHR	XENIA HOTELS & RESORTS INC	29,450	$636K	0.2%	$19.38	—	COM	984017103
—	ENBRIDGE ENERGY PARTNERS L P	45,890	$634K	0.2%	$16.00	—	COM	29250R106
KNOP	KNOT OFFSHORE PARTNERS LP	30,510	$633K	0.2%	$11.48	-0.9%	COM UNITS	Y48125101
RLJ	RLJ LODGING TR	28,140	$618K	0.2%	$20.07	—	COM	74965L101
CAPL	CROSSAMERICA PARTNERS LP	26,023	$618K	0.2%	$25.60	—	UT LTD PTN INT	22758A105
IRT	INDEPENDENCE RLTY TR INC	60,373	$609K	0.2%	$9.87	—	COM	45378A106
—	SENIOR HSG PPTYS TR	31,550	$604K	0.2%	$22.14	—	SH BEN INT	81721M109
MMLP	MARTIN MIDSTREAM PRTNRS L P	42,984	$602K	0.2%	$27.45	—	UNIT L P INT	573331105
—	LASALLE HOTEL PPTYS	21,318	$598K	0.2%	$29.82	—	COM SH BEN INT	517942108
DLNG	DYNAGAS LNG PARTNERS LP	52,639	$572K	0.2%	$14.82	—	COM UNIT LTD PT	Y2188B108
—	CENTURYLINK INC	34,081	$568K	0.2%	$28.26	—	COM	156700106
—	WASHINGTON PRIME GROUP NEW	75,546	$538K	0.1%	$11.13	—	COM	93964W108
—	NUSTAR ENERGY LP	17,778	$532K	0.1%	$50.03	—	UNIT COM	67058H102
MGM	MGM RESORTS INTERNATIONAL	13,998	$467K	0.1%	$30.64	+0.5%	COM	552953101
GLW	CORNING INC	14,502	$464K	0.1%	$20.97	+20.3%	COM	219350105
—	DUKE REALTY CORP	16,462	$448K	0.1%	$28.78	—	COM NEW	264411505
—	CBL & ASSOC PPTYS INC	73,925	$418K	0.1%	$10.78	—	COM	124830100
EWK	ISHARES INC	14,450	$304K	0.1%	$21.04	—	MSCI BELGIUM ETF	464286301
EPOL	ISHARES TR	11,240	$304K	0.1%	$27.05	—	MSCI POLAND ETF	46429B606