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
ANTERO MIDSTREAM CORP COM 03676B102 283 27,192 SH   SOLE   27,192 0 0
APTIV PLC SHS G6095L109 281 1,886 SH   SOLE   1,886 0 0
ARROW INVTS TR DWA COUNTRY ETF 042765685 11,765 336,766 SH   SOLE   336,766 0 0
ARROW INVTS TR RESV CAP ETF 042765719 44,653 446,303 SH   SOLE   446,303 0 0
ARROW INVTS TR RVRSE CAP500 ETF 042765677 6,767 294,898 SH   SOLE   294,898 0 0
ASSURANT INC COM 04621X108 254 1,607 SH   SOLE   1,607 0 0
BORGWARNER INC COM 099724106 361 8,345 SH   SOLE   8,345 0 0
BP MIDSTREAM PARTNERS LP UNIT LTD PTNR 0556EL109 262 19,781 SH   SOLE   19,781 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 295 21,951 SH   SOLE   21,951 0 0
C H ROBINSON WORLDWIDE INC COM NEW 12541W209 206 2,369 SH   SOLE   2,369 0 0
CBRE GROUP INC CL A 12504L109 561 5,760 SH   SOLE   5,760 0 0
CITY OFFICE REIT INC COM 178587101 435 24,349 SH   SOLE   24,349 0 0
COLUMBIA PPTY TR INC COM NEW 198287203 339 17,798 SH   SOLE   17,798 0 0
CRESTWOOD EQUITY PARTNERS LP UNIT LTD PARTNER 226344208 261 9,189 SH   SOLE   9,189 0 0
DBX ETF TR XTRACK USD HIGH 233051432 280 6,985 SH   SOLE   6,985 0 0
DCP MIDSTREAM LP COM UT LTD PTN 23311P100 271 9,613 SH   SOLE   9,613 0 0
DEERE & CO COM 244199105 475 1,417 SH   SOLE   1,417 0 0
DELEK LOGISTICS PARTNERS LP COM UNT RP INT 24664T103 308 6,800 SH   SOLE   6,800 0 0
ENABLE MIDSTREAM PARTNERS LP COM UNIT RP IN 292480100 252 31,003 SH   SOLE   31,003 0 0
ENERGY TRANSFER L P COM UT LTD PTN 29273V100 255 26,625 SH   SOLE   26,625 0 0
ENLINK MIDSTREAM LLC COM UNIT REP LTD 29336T100 313 45,822 SH   SOLE   45,822 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 256 11,852 SH   SOLE   11,852 0 0
FIRST TR MID CAP CORE ALPHAD COM SHS 33735B108 5,508 56,333 SH   SOLE   56,333 0 0
FIRST TR SML CP CORE ALPHA F COM SHS 33734Y109 5,667 61,953 SH   SOLE   61,953 0 0
FOX CORP CL B COM 35137L204 210 5,652 SH   SOLE   5,652 0 0
FRANKLIN STR PPTYS CORP COM 35471R106 272 58,613 SH   SOLE   58,613 0 0
GARMIN LTD SHS H2906T109 501 3,223 SH   SOLE   3,223 0 0
GENESIS ENERGY L P UNIT LTD PARTN 371927104 255 25,582 SH   SOLE   25,582 0 0
GETTY RLTY CORP NEW COM 374297109 283 9,640 SH   SOLE   9,640 0 0
GLOBAL NET LEASE INC COM NEW 379378201 270 16,843 SH   SOLE   16,843 0 0
GLOBAL PARTNERS LP COM UNITS 37946R109 232 10,968 SH   SOLE   10,968 0 0
GRAINGER W W INC COM 384802104 207 527 SH   SOLE   527 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 226 3,217 SH   SOLE   3,217 0 0
HCA HEALTHCARE INC COM 40412C101 267 1,101 SH   SOLE   1,101 0 0
HESS MIDSTREAM LP CL A SHS 428103105 316 11,218 SH   SOLE   11,218 0 0
HOEGH LNG PARTNERS LP COM UNIT LTD Y3262R100 79 15,996 SH   SOLE   15,996 0 0
HUNT J B TRANS SVCS INC COM 445658107 307 1,838 SH   SOLE   1,838 0 0
INDUSTRIAL LOGISTICS PPTYS T COM SHS BEN INT 456237106 302 11,872 SH   SOLE   11,872 0 0
INVESCO DB COMMDY INDX TRCK UNIT 46138B103 9,387 465,165 SH   SOLE   465,165 0 0
INVESCO DB MULTI-SECTOR COMM OIL FD 46140H403 440 32,091 SH   SOLE   32,091 0 0
IPG PHOTONICS CORP COM 44980X109 385 2,428 SH   SOLE   2,428 0 0
ISHARES TR 20 YR TR BD ETF 464287432 6,281 43,521 SH   SOLE   43,521 0 0
ISHARES TR COHEN STEER REIT 464287564 5,391 82,402 SH   SOLE   82,402 0 0
ISHARES TR CONV BD ETF 46435G102 289 2,902 SH   SOLE   2,902 0 0
ISHARES TR IBOXX HI YD ETF 464288513 1,963 22,432 SH   SOLE   22,432 0 0
ISHARES TR IBOXX INV CP ETF 464287242 2,311 17,375 SH   SOLE   17,375 0 0
ISHARES TR JPMORGAN USD EMG 464288281 2,264 20,571 SH   SOLE   20,571 0 0
ISHARES TR MSCI INDIA ETF 46429B598 1,697 34,857 SH   SOLE   34,857 0 0
JPMORGAN CHASE & CO ALERIAN ML ETN 46625H365 1,708 94,024 SH   SOLE   94,024 0 0
KIMBELL RTY PARTNERS LP UNIT 49435R102 310 21,945 SH   SOLE   21,945 0 0
KNOT OFFSHORE PARTNERS LP COM UNITS Y48125101 269 14,317 SH   SOLE   14,317 0 0
LAUDER ESTEE COS INC CL A 518439104 474 1,580 SH   SOLE   1,580 0 0
LEGGETT & PLATT INC COM 524660107 393 8,764 SH   SOLE   8,764 0 0
LUMEN TECHNOLOGIES INC COM 550241103 357 28,823 SH   SOLE   28,823 0 0
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 266 5,825 SH   SOLE   5,825 0 0
MOBILE TELESYSTEMS PJSC SPONSORED ADR 607409109 309 32,050 SH   SOLE   32,050 0 0
MOHAWK INDS INC COM 608190104 319 1,796 SH   SOLE   1,796 0 0
MPLX LP COM UNIT REP LTD 55336V100 274 9,629 SH   SOLE   9,629 0 0
NATIONAL HEALTH INVS INC COM 63633D104 242 4,520 SH   SOLE   4,520 0 0
NEWELL BRANDS INC COM 651229106 545 24,610 SH   SOLE   24,610 0 0
NEWS CORP NEW CL A 65249B109 392 16,670 SH   SOLE   16,670 0 0
NEWS CORP NEW CL B 65249B208 663 28,549 SH   SOLE   28,549 0 0
NUCOR CORP COM 670346105 465 4,725 SH   SOLE   4,725 0 0
NUSTAR ENERGY LP UNIT COM 67058H102 251 15,978 SH   SOLE   15,978 0 0
OASIS MIDSTREAM PARTNERS LP COM UNITS REPS 67420T206 208 9,314 SH   SOLE   9,314 0 0
OFFICE PPTYS INCOME TR COM SHS BEN INT 67623C109 260 10,250 SH   SOLE   10,250 0 0
OLD DOMINION FREIGHT LINE IN COM 679580100 290 1,014 SH   SOLE   1,014 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 248 8,275 SH   SOLE   8,275 0 0
PBF LOGISTICS LP UNIT LTD PTNR 69318Q104 241 19,069 SH   SOLE   19,069 0 0
PEOPLES UNITED FINANCIAL INC COM 712704105 189 10,847 SH   SOLE   10,847 0 0
PHILLIPS 66 PARTNERS LP COM UNIT REP INT 718549207 256 7,138 SH   SOLE   7,138 0 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 259 25,489 SH   SOLE   25,489 0 0
PLAINS GP HLDGS L P LTD PARTNR INT A 72651A207 260 24,173 SH   SOLE   24,173 0 0
QUANTA SVCS INC COM 74762E102 646 5,672 SH   SOLE   5,672 0 0
RATTLER MIDSTREAM LP COM UNITS 75419T103 311 26,524 SH   SOLE   26,524 0 0
ROBERT HALF INTL INC COM 770323103 593 5,908 SH   SOLE   5,908 0 0
SELECT SECTOR SPDR TR FINANCIAL 81369Y605 5,523 147,167 SH   SOLE   147,167 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 5,321 54,384 SH   SOLE   54,384 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 5,552 37,182 SH   SOLE   37,182 0 0
SHELL MIDSTREAM PARTNERS L P UNIT LTD INT 822634101 224 19,030 SH   SOLE   19,030 0 0
SL GREEN RLTY CORP COM 78440X804 265 3,736 SH   SOLE   3,736 0 0
SPDR SER TR BLMBRG BRC CNVRT 78464A359 1,811 21,218 SH   SOLE   21,218 0 0
SPDR SER TR DJ REIT ETF 78464A607 5,454 51,729 SH   SOLE   51,729 0 0
SPIRIT RLTY CAP INC NEW COM NEW 84860W300 289 6,270 SH   SOLE   6,270 0 0
SUBURBAN PROPANE PARTNERS L UNIT LTD PARTN 864482104 280 18,228 SH   SOLE   18,228 0 0
SUNOCO LP/SUNOCO FIN CORP COM UT REP LP 86765K109 283 7,571 SH   SOLE   7,571 0 0
TE CONNECTIVITY LTD REG SHS H84989104 258 1,883 SH   SOLE   1,883 0 0
TELEFONICA BRASIL SA NEW ADR 87936R205 272 34,995 SH   SOLE   34,995 0 0
UNDER ARMOUR INC CL C 904311206 203 11,603 SH   SOLE   11,603 0 0
UNITED RENTALS INC COM 911363109 213 608 SH   SOLE   608 0 0
UNIVERSAL HLTH SVCS INC CL B 913903100 233 1,684 SH   SOLE   1,684 0 0
USA COMPRESSION PARTNERS LP COMUNIT LTDPAR 90290N109 284 17,138 SH   SOLE   17,138 0 0
WESTERN MIDSTREAM PARTNERS L COM UNIT LP INT 958669103 276 13,156 SH   SOLE   13,156 0 0
WP CAREY INC COM 92936U109 292 3,995 SH   SOLE   3,995 0 0