Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ARCM	ARROW INVTS TR	520,664	$52.06M	25.7%	$100.02	—	RESV CAP ETF	042765719
XLK	SELECT SECTOR SPDR TR	149,127	$13.67M	6.8%	$78.04	—	TECHNOLOGY	81369Y803
XLU	SELECT SECTOR SPDR TR	201,407	$13.02M	6.4%	$52.92	—	SBI INT-UTILS	81369Y886
QUAL	ISHARES TR	121,123	$12.23M	6.0%	$101.00	—	USA QUALITY FCTR	46432F339
VIG	VANGUARD GROUP	97,441	$12.15M	6.0%	$124.66	—	DIV APP ETF	921908844
IVE	ISHARES TR	91,613	$11.92M	5.9%	$130.09	—	S&P 500 VAL ETF	464287408
SPLV	INVESCO EXCHNG TRADED FD TR	203,626	$11.88M	5.9%	$46.65	—	S&P500 LOW VOL	46138E354
IYR	ISHARES TR	125,549	$11.69M	5.8%	$87.04	—	U.S. REAL ES ETF	464287739
EWJ	ISHARES INC	190,302	$11.27M	5.6%	$59.24	—	MSCI JPN ETF NEW	46434G822
—	ARROW INVTS TR	333,617	$9.43M	4.7%	$29.90	—	DWA COUNTRY ETF	042765685
VUG	VANGUARD INDEX FDS	18,279	$3.33M	1.6%	$127.04	—	GROWTH ETF	922908736
HYG	ISHARES TR	36,151	$3.179M	1.6%	$86.82	—	IBOXX HI YD ETF	464288513
VOT	VANGUARD INDEX FDS	19,899	$3.16M	1.6%	$142.75	—	MCAP GR IDXVIP	922908538
TIP	ISHARES TR	25,074	$2.923M	1.4%	$116.57	—	TIPS BD ETF	464287176
—	ARROW INVTS TR	54,497	$2.67M	1.3%	$47.20	—	DOGS OF THE	042765693
ICF	ISHARES TR	22,132	$2.589M	1.3%	$97.04	—	COHEN STEER REIT	464287564
CWB	SPDR SERIES TRUST	39,493	$2.192M	1.1%	$52.45	—	BLMBRG BRC CNVRT	78464A359
LQD	ISHARES TR	17,018	$2.178M	1.1%	$119.05	—	IBOXX INV CP ETF	464287242
EMB	ISHARES TR	18,542	$2.124M	1.0%	$110.06	—	JPMORGAN USD EMG	464288281
SHY	ISHARES TR	21,435	$1.814M	0.9%	$84.63	—	1 3 YR TREAS BD	464287457
—	CAPITAL PRODUCT PARTNERS L P	41,250	$554K	0.3%	$10.56	—	PARTNERSHP UNITS	Y11082206
KRP	KIMBELL RTY PARTNERS LP	30,383	$517K	0.3%	$15.99	—	UNIT	49435R102
—	MOBILE TELESYSTEMS PJSC	47,721	$484K	0.2%	$9.38	—	SPONSORED ADR	607409109
USAC	USA COMPRESSION PARTNERS LP	26,082	$473K	0.2%	$16.27	—	COMUNIT LTDPAR	90290N109
CAPL	CROSSAMERICA PARTNERS LP	26,074	$471K	0.2%	$16.23	—	UT LTD PTN INT	22758A105
KNOP	KNOT OFFSHORE PARTNERS LP	23,350	$463K	0.2%	$11.47	+8.5%	COM UNITS	Y48125101
GLP	GLOBAL PARTNERS LP	22,917	$462K	0.2%	$19.90	—	COM UNITS	37946R109
XLF	SELECT SECTOR SPDR TR	14,547	$448K	0.2%	$30.80	—	SBI INT-FINL	81369Y605
KRG	KITE RLTY GROUP TR	22,768	$445K	0.2%	$17.07	—	COM NEW	49803T300
DKL	DELEK LOGISTICS PARTNERS LP	13,892	$444K	0.2%	$32.45	—	COM UNT RP INT	24664T103
—	HOEGH LNG PARTNERS LP	28,094	$439K	0.2%	$16.84	—	COM UNIT LTD	Y3262R100
SUN	SUNOCO LP	13,772	$421K	0.2%	$30.58	—	COM UT REP LP	86765K109
—	PBF LOGISTICS LP	20,706	$419K	0.2%	$21.02	—	UNIT LTD PTNR	69318Q104
GEL	GENESIS ENERGY L P	20,320	$416K	0.2%	$22.09	—	UNIT LTD PARTN	371927104
—	EQM MIDSTREAM PARTNERS LP	13,860	$415K	0.2%	$29.94	—	UNIT LTD PARTN	26885B100
—	RPT REALTY	27,392	$412K	0.2%	$11.96	—	SH BEN INT	74971D101
—	CENTURYLINK INC	30,862	$408K	0.2%	$22.00	—	COM	156700106
SPH	SUBURBAN PROPANE PARTNERS L	18,357	$401K	0.2%	$34.80	—	UNIT LTD PARTN	864482104
—	NUSTAR ENERGY LP	15,454	$399K	0.2%	$37.67	—	UNIT COM	67058H102
—	DCP MIDSTREAM LP	16,201	$397K	0.2%	$28.44	—	COM UT LTD PTN	23311P100
—	GOLAR LNG PARTNERS LP	44,004	$389K	0.2%	$13.25	—	COM UNIT LPI	Y2745C102
RLJ	RLJ LODGING TR	21,710	$385K	0.2%	$19.71	—	COM	74965L101
ANGL	VANECK VECTORS ETF TRUST	12,603	$376K	0.2%	$29.83	—	FALLEN ANGEL HG	92189F437
CLDT	CHATHAM LODGING TR	20,395	$374K	0.2%	$21.11	—	COM	16208T102
KIM	KIMCO RLTY CORP	17,980	$372K	0.2%	$10.40	+53.0%	COM	49446R109
MMLP	MARTIN MIDSTREAM PRTNRS L P	91,967	$371K	0.2%	$10.37	—	UNIT L P INT	573331105
APLE	APPLE HOSPITALITY REIT INC	22,797	$370K	0.2%	$18.55	—	COM NEW	03784Y200
IRT	INDEPENDENCE RLTY TR INC	25,947	$365K	0.2%	$9.87	—	COM	45378A106
NGL	NGL ENERGY PARTNERS LP	31,990	$363K	0.2%	$12.43	—	COM UNIT REPST	62913M107
—	GASLOG PARTNERS LP	22,745	$356K	0.2%	$20.36	—	UNIT LTD PTNRP	Y2687W108
SVC	SERVICE PPTYS TR	14,575	$355K	0.2%	$25.82	—	COM SH BEN INT	81761L102
—	CRESTWOOD EQUITY PARTNERS LP	11,440	$353K	0.2%	$24.13	—	UNIT LTD PARTNER	226344208
—	ENABLE MIDSTREAM PARTNERS LP	34,958	$351K	0.2%	$15.44	—	COM UNIT RP IN	292480100
—	SITE CENTERS CORP	24,679	$346K	0.2%	$11.23	—	COM	82981J109
—	SENIOR HSG PPTYS TR	40,219	$339K	0.2%	$16.41	—	SH BEN INT	81721M109
—	PENNSYLVANIA RL ESTATE INVT	63,543	$339K	0.2%	$9.01	—	SH BEN INT	709102107
—	ENLINK MIDSTREAM LLC	52,309	$321K	0.2%	$9.08	—	COM UNIT REP LTD	29336T100
—	WASHINGTON PRIME GROUP NEW	87,708	$319K	0.2%	$8.34	—	COM	93964W108
—	ASHFORD HOSPITALITY TR INC	113,567	$317K	0.2%	$4.90	—	COM SHS	044103109
MAC	MACERICH CO	11,590	$312K	0.2%	$31.45	—	COM	554382101
ARLP	ALLIANCE RES PARTNER L P	28,500	$308K	0.2%	$17.62	—	UT LTD PART	01877R108
—	SUMMIT MIDSTREAM PARTNERS LP	79,486	$263K	0.1%	$11.77	—	COM UNIT LTD	866142102
AES	AES CORP	11,960	$238K	0.1%	$9.38	+53.0%	COM	00130H105
COTY	COTY INC	20,088	$226K	0.1%	$10.06	+11.4%	COM CL A	222070203