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                    <othIndName>WEC ENERGY GROUP INC 5.600% 09/12/26 B/E DTD 09/12/23 CLB CLB 08/12/26 </othIndName>
                    <identifiers>
                      <ticker value="WEC5647182"/>
                    </identifiers>
                    <othIndNotAmt>18415352.91000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-204.34000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>WELLS FARGO BK NA SAN FRANCISCO CALIF MEDIUM TERM SR BK NTS LKD TO 5.450% 08/07/26 B/E DTD 08/09/23 CLB CLB 07/07/26</othIndName>
                    <identifiers>
                      <ticker value="WFC5628805"/>
                    </identifiers>
                    <othIndNotAmt>7346931.58000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-294.13000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Wells Fargo &amp; Co New Fxd Rt Nts 3.000% 04/22/26 B/e Dtd 04/22/16 Pb 0250 29142296 Ex Bkr Wells Fargo S</othIndName>
                    <identifiers>
                      <ticker value="WFC4354551"/>
                    </identifiers>
                    <othIndNotAmt>2906719.74000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>120.36000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Westar Energy Inc 1st Mtg Bd 3.100% 04/01/27 B/e Dtd 03/06/17 Clb Pb 0750 73121905 Ex Bkr Stonex Financ</othIndName>
                    <identifiers>
                      <ticker value="WR4461823"/>
                    </identifiers>
                    <othIndNotAmt>4467172.41000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-847.36000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                </components>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>21472.27000000</shareNo>
            <exercisePrice>0.00010000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-12-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>28258551.61000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Galaxy Plus Fund LLC Dunn Financial Feeder Fund</name>
        <lei>N/A</lei>
        <title>Galaxy Plus Fund LLC Dunn Financial Feeder Fund</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="GLPSF1790"/>
        </identifiers>
        <balance>130005.07200000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>96474163.83000000</valUSD>
        <pctVal>41.38505478252</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="PRIVATE"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Returns are reported without deducting sales loads and redemption fees, if any." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-02-27</ncom:dateSigned>
      <ncom:nameOfApplicant>Arrow Investments Trust</ncom:nameOfApplicant>
      <ncom:signature>Sam Singh</ncom:signature>
      <ncom:signerName>Sam Singh</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
