The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AES CORP COM 00130H105 350 24,197 SH   SOLE   24,197 0 0
ALLIANCE RES PARTNER L P UT LTD PART 01877R108 430 24,810 SH   SOLE   24,810 0 0
AMERICAN MIDSTREAM PARTNERS COM UNITS 02752P100 239 78,819 SH   SOLE   78,819 0 0
AMERIGAS PARTNERS L P UNIT L P INT 030975106 300 11,867 SH   SOLE   11,867 0 0
APPLE HOSPITALITY REIT INC COM NEW 03784Y200 360 25,216 SH   SOLE   25,216 0 0
ARROW INVTS TR DWA COUNTRY ETF 042765685 12,762 515,000 SH   SOLE   515,000 0 0
ARROW INVTS TR RESV CAP ETF 042765719 69,272 695,187 SH   SOLE   695,187 0 0
ARROW INVTS TR QVM EQT FACTOR 042765784 1,084 45,000 SH   SOLE   45,000 0 0
ASHFORD HOSPITALITY TR INC COM SHS 044103109 273 68,145 SH   SOLE   68,145 0 0
BEST BUY INC COM 086516101 618 11,662 SH   SOLE   11,662 0 0
BRAEMAR HOTELS & RESORTS INC COM 10482B101 328 36,781 SH   SOLE   36,781 0 0
BUCKEYE PARTNERS L P UNIT LTD PARTN 118230101 381 13,157 SH   SOLE   13,157 0 0
CAPITAL PRODUCT PARTNERS L P COM UNIT LP Y11082107 369 176,400 SH   SOLE   176,400 0 0
CENTURYLINK INC COM 156700106 329 21,726 SH   SOLE   21,726 0 0
CHATHAM LODGING TR COM 16208T102 373 21,108 SH   SOLE   21,108 0 0
CHESAPEAKE LODGING TR SH BEN INT 165240102 322 13,238 SH   SOLE   13,238 0 0
CORNING INC COM 219350105 354 11,726 SH   SOLE   11,726 0 0
CRESTWOOD EQUITY PARTNERS LP UNIT LTD PARTNER 226344208 363 13,001 SH   SOLE   13,001 0 0
CVR REFNG LP COMUNIT REP LT 12663P107 275 26,341 SH   SOLE   26,341 0 0
DELEK LOGISTICS PARTNERS LP COM UNT RP INT 24664T103 402 13,737 SH   SOLE   13,737 0 0
DUKE REALTY CORP COM NEW 264411505 345 13,310 SH   SOLE   13,310 0 0
ENABLE MIDSTREAM PARTNERS LP COM UNIT RP IN 292480100 409 30,210 SH   SOLE   30,210 0 0
ENBRIDGE INC COM 29250N105 459 14,764 SH   SOLE   14,764 0 0
ENLINK MIDSTREAM PARTNERS LP COM UNIT REP LTD 29336U107 294 26,743 SH   SOLE   26,743 0 0
FRANKLIN STREET PPTYS CORP COM 35471R106 340 54,549 SH   SOLE   54,549 0 0
GAMESTOP CORP NEW CL A 36467W109 364 28,851 SH   SOLE   28,851 0 0
GARMIN LTD SHS H2906T109 717 11,325 SH   SOLE   11,325 0 0
GENESIS ENERGY L P UNIT LTD PARTN 371927104 361 19,541 SH   SOLE   19,541 0 0
GLOBAL X FDS MSCI PAKISTAN 37950E689 559 69,318 SH   SOLE   69,318 0 0
GOLAR LNG PARTNERS LP COM UNIT LPI Y2745C102 388 35,883 SH   SOLE   35,883 0 0
HOSPITALITY PPTYS TR COM SH BEN INT 44106M102 364 15,250 SH   SOLE   15,250 0 0
INDEPENDENCE RLTY TR INC COM 45378A106 390 42,436 SH   SOLE   42,436 0 0
INVESCO DB US DLR INDEX TR BULLISH FD 46141D203 529 20,802 SH   SOLE   20,802 0 0
INVESCO EXCHANGE TRADED FD T DIVID ACHIEVEV 46137V506 14,243 576,180 SH   SOLE   576,180 0 0
INVESCO EXCHNG TRADED FD TR S&P500 LOW VOL 46138E354 13,198 282,918 SH   SOLE   282,918 0 0
ISHARES INC MSCI BRAZIL ETF 464286400 1,539 40,300 SH   SOLE   40,300 0 0
ISHARES TR 20 YR TR BD ETF 464287432 8,041 66,176 SH   SOLE   66,176 0 0
ISHARES TR 1 3 YR TREAS BD 464287457 7,914 94,646 SH   SOLE   94,646 0 0
ISHARES TR COHEN STEER REIT 464287564 14,256 148,961 SH   SOLE   148,961 0 0
ISHARES TR MSCI INDIA ETF 46429B598 1,523 45,671 SH   SOLE   45,671 0 0
ISHARES TR USA QUALITY FCTR 46432F339 12,765 166,300 SH   SOLE   166,300 0 0
KIMCO RLTY CORP COM 49446R109 383 26,118 SH   SOLE   26,118 0 0
KITE RLTY GROUP TR COM NEW 49803T300 371 26,307 SH   SOLE   26,307 0 0
KNOT OFFSHORE PARTNERS LP COM UNITS Y48125101 405 22,565 SH   SOLE   22,565 0 0
KROGER CO COM 501044101 783 28,460 SH   SOLE   28,460 0 0
MARTIN MIDSTREAM PRTNRS L P UNIT L P INT 573331105 455 44,219 SH   SOLE   44,219 0 0
NGL ENERGY PARTNERS LP COM UNIT REPST 62913M107 419 43,716 SH   SOLE   43,716 0 0
NIKE INC CL B 654106103 746 10,061 SH   SOLE   10,061 0 0
NUSTAR ENERGY LP UNIT COM 67058H102 360 17,209 SH   SOLE   17,209 0 0
PBF LOGISTICS LP UNIT LTD PTNR 69318Q104 446 22,166 SH   SOLE   22,166 0 0
PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 273 46,041 SH   SOLE   46,041 0 0
RETAIL VALUE INC COM 76133Q102 358 14,005 SH   SOLE   14,005 0 0
RLJ LODGING TR COM 74965L101 318 19,414 SH   SOLE   19,414 0 0
ROBERT HALF INTL INC COM 770323103 691 12,087 SH   SOLE   12,087 0 0
RPT REALTY COM SH BEN INT 74971D101 417 34,903 SH   SOLE   34,903 0 0
SEADRILL PARTNERS LLC COMUNIT REP LB Y7545W109 220 127,355 SH   SOLE   127,355 0 0
SEASPAN CORP SHS Y75638109 430 54,977 SH   SOLE   54,977 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 14,853 171,696 SH   SOLE   171,696 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 13,978 275,275 SH   SOLE   275,275 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 14,835 280,324 SH   SOLE   280,324 0 0
SENIOR HSG PPTYS TR SH BEN INT 81721M109 288 24,564 SH   SOLE   24,564 0 0
SITE CENTERS CORP COM 82981J109 349 31,496 SH   SOLE   31,496 0 0
SPDR SERIES TRUST S&P DIVID ETF 78464A763 14,261 159,305 SH   SOLE   159,305 0 0
SUBURBAN PROPANE PARTNERS L UNIT LTD PARTN 864482104 404 20,969 SH   SOLE   20,969 0 0
SUMMIT MIDSTREAM PARTNERS LP COM UNIT LTD 866142102 323 32,162 SH   SOLE   32,162 0 0
SUNCOKE ENERGY PARTNERS L P COMUNIT REP LT 86722Y101 320 30,102 SH   SOLE   30,102 0 0
SUNOCO LP COM U REP LP 86765K109 471 17,312 SH   SOLE   17,312 0 0
SYSCO CORP COM 871829107 693 11,063 SH   SOLE   11,063 0 0
USA COMPRESSION PARTNERS LP COMUNIT LTDPAR 90290N109 383 29,487 SH   SOLE   29,487 0 0
USD PARTNERS LP COM UT REP LTD 903318103 517 49,491 SH   SOLE   49,491 0 0
VANGUARD GROUP DIV APP ETF 921908844 12,784 130,512 SH   SOLE   130,512 0 0
VANGUARD INDEX FDS GROWTH ETF 922908736 4,640 34,544 SH   SOLE   34,544 0 0
VANGUARD INDEX FDS VALUE ETF 922908744 3,374 34,448 SH   SOLE   34,448 0 0
WASHINGTON PRIME GROUP NEW COM 93964W108 289 59,430 SH   SOLE   59,430 0 0