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 267 15,910 SH   SOLE   15,910 0 0
ALLIANCE RES PARTNER L P UT LTD PART 01877R108 333 19,586 SH   SOLE   19,586 0 0
AMERIGAS PARTNERS L P UNIT L P INT 030975106 463 13,283 SH   SOLE   13,283 0 0
ANDEAVOR LOGISTICS LP COM UNIT LP INT 03350F106 419 11,534 SH   SOLE   11,534 0 0
APPLE HOSPITALITY REIT INC COM NEW 03784Y200 388 24,456 SH   SOLE   24,456 0 0
ARROW INVTS TR DWA COUNTRY ETF 042765685 13,393 488,617 SH   SOLE   488,617 0 0
ARROW INVTS TR DOGS OF THE 042765693 2,763 54,497 SH   SOLE   54,497 0 0
ARROW INVTS TR RESV CAP ETF 042765719 56,389 562,206 SH   SOLE   562,206 0 0
ASHFORD HOSPITALITY TR INC COM SHS 044103109 240 80,713 SH   SOLE   80,713 0 0
BUCKEYE PARTNERS L P UNIT LTD PARTN 118230101 481 11,706 SH   SOLE   11,706 0 0
CAPITAL PRODUCT PARTNERS L P PARTNERSHP UNITS Y11082206 296 28,213 SH   SOLE   28,213 0 0
CBL & ASSOC PPTYS INC COM 124830100 289 278,012 SH   SOLE   278,012 0 0
CBRE GROUP INC CL A 12504L109 561 10,927 SH   SOLE   10,927 0 0
CENTURYLINK INC COM 156700106 388 33,031 SH   SOLE   33,031 0 0
CHATHAM LODGING TR COM 16208T102 395 20,929 SH   SOLE   20,929 0 0
CRESTWOOD EQUITY PARTNERS LP UNIT LTD PARTNER 226344208 419 11,719 SH   SOLE   11,719 0 0
CROSSAMERICA PARTNERS LP UT LTD PTN INT 22758A105 352 21,924 SH   SOLE   21,924 0 0
DCP MIDSTREAM LP COM UT LTD PTN 23311P100 363 12,391 SH   SOLE   12,391 0 0
DELEK LOGISTICS PARTNERS LP COM UNT RP INT 24664T103 392 12,250 SH   SOLE   12,250 0 0
ENABLE MIDSTREAM PARTNERS LP COM UNIT RP IN 292480100 388 28,332 SH   SOLE   28,332 0 0
ENLINK MIDSTREAM LLC COM UNIT REP LTD 29336T100 320 31,760 SH   SOLE   31,760 0 0
GASLOG PARTNERS LP UNIT LTD PTNRP Y2687W108 381 17,944 SH   SOLE   17,944 0 0
GENESIS ENERGY L P UNIT LTD PARTN 371927104 379 17,286 SH   SOLE   17,286 0 0
GLOBAL PARTNERS LP COM UNITS 37946R109 411 20,636 SH   SOLE   20,636 0 0
GOLAR LNG PARTNERS LP COM UNIT LPI Y2745C102 347 30,748 SH   SOLE   30,748 0 0
HOEGH LNG PARTNERS LP COM UNIT LTD Y3262R100 360 20,807 SH   SOLE   20,807 0 0
HOSPITALITY PPTYS TR COM SH BEN INT 44106M102 380 15,193 SH   SOLE   15,193 0 0
INDEPENDENCE RLTY TR INC COM 45378A106 427 36,897 SH   SOLE   36,897 0 0
INVESCO EXCHNG TRADED FD TR S&P500 LOW VOL 46138E354 12,429 225,893 SH   SOLE   225,893 0 0
ISHARES TR IBOXX INV CP ETF 464287242 2,514 20,213 SH   SOLE   20,213 0 0
ISHARES TR S&P 500 GRWT ETF 464287309 12,567 70,114 SH   SOLE   70,114 0 0
ISHARES TR 20 YR TR BD ETF 464287432 7,052 53,102 SH   SOLE   53,102 0 0
ISHARES TR 1 3 YR TREAS BD 464287457 4,984 58,793 SH   SOLE   58,793 0 0
ISHARES TR COHEN STEER REIT 464287564 15,831 140,537 SH   SOLE   140,537 0 0
ISHARES TR U.S. REAL ES ETF 464287739 12,181 139,519 SH   SOLE   139,519 0 0
ISHARES TR JPMORGAN USD EMG 464288281 2,562 22,615 SH   SOLE   22,615 0 0
ISHARES TR IBOXX HI YD ETF 464288513 3,303 37,886 SH   SOLE   37,886 0 0
ISHARES TR MSCI INDIA ETF 46429B598 1,516 42,953 SH   SOLE   42,953 0 0
ISHARES TR USA QUALITY FCTR 46432F339 12,388 135,427 SH   SOLE   135,427 0 0
KIMBELL RTY PARTNERS LP UNIT 49435R102 357 22,117 SH   SOLE   22,117 0 0
KIMCO RLTY CORP COM 49446R109 402 21,734 SH   SOLE   21,734 0 0
KITE RLTY GROUP TR COM NEW 49803T300 383 25,306 SH   SOLE   25,306 0 0
KNOT OFFSHORE PARTNERS LP COM UNITS Y48125101 404 21,148 SH   SOLE   21,148 0 0
MARTIN MIDSTREAM PRTNRS L P UNIT L P INT 573331105 228 32,001 SH   SOLE   32,001 0 0
MOBILE TELESYSTEMS PJSC SPONSORED ADR 607409109 483 51,857 SH   SOLE   51,857 0 0
NGL ENERGY PARTNERS LP COM UNIT REPST 62913M107 428 28,947 SH   SOLE   28,947 0 0
NUSTAR ENERGY LP UNIT COM 67058H102 406 14,955 SH   SOLE   14,955 0 0
PBF LOGISTICS LP UNIT LTD PTNR 69318Q104 403 19,064 SH   SOLE   19,064 0 0
PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 420 64,675 SH   SOLE   64,675 0 0
RLJ LODGING TR COM 74965L101 392 22,091 SH   SOLE   22,091 0 0
RPT REALTY SH BEN INT 74971D101 406 33,529 SH   SOLE   33,529 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 13,205 110,784 SH   SOLE   110,784 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 12,941 165,821 SH   SOLE   165,821 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 13,346 223,819 SH   SOLE   223,819 0 0
SENIOR HSG PPTYS TR SH BEN INT 81721M109 281 33,984 SH   SOLE   33,984 0 0
SITE CENTERS CORP COM 82981J109 394 29,721 SH   SOLE   29,721 0 0
SPDR SERIES TRUST DJ REIT ETF 78464A607 10,651 107,802 SH   SOLE   107,802 0 0
SPDR SERIES TRUST S&P DIVID ETF 78464A763 12,831 127,194 SH   SOLE   127,194 0 0
SUBURBAN PROPANE PARTNERS L UNIT LTD PARTN 864482104 436 17,944 SH   SOLE   17,944 0 0
SUMMIT MIDSTREAM PARTNERS LP COM UNIT LTD 866142102 310 41,702 SH   SOLE   41,702 0 0
SUNOCO LP COM UT REP LP 86765K109 406 12,981 SH   SOLE   12,981 0 0
USA COMPRESSION PARTNERS LP COMUNIT LTDPAR 90290N109 454 25,564 SH   SOLE   25,564 0 0
VANECK VECTORS ETF TR FALLEN ANGEL HG 92189F437 1,669 56,962 SH   SOLE   56,962 0 0
VANGUARD INDEX FDS MCAP GR IDXVIP 922908538 3,458 23,161 SH   SOLE   23,161 0 0
VANGUARD INDEX FDS GROWTH ETF 922908736 3,480 21,298 SH   SOLE   21,298 0 0
WASHINGTON PRIME GROUP NEW COM 93964W108 282 73,859 SH   SOLE   73,859 0 0