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
ALASKA AIR GROUP INC COM 011659109 213 3,526 SH   SOLE   3,526 0 0
ANTERO MIDSTREAM CORP COM 03676B102 315 30,295 SH   SOLE   30,295 0 0
APARTMENT INVT & MGMT CO CL A 03748R747 289 43,000 SH   SOLE   43,000 0 0
APTIV PLC SHS G6095L109 319 2,029 SH   SOLE   2,029 0 0
ARROW INVTS TR DWA COUNTRY ETF 042765685 11,971 336,766 SH   SOLE   336,766 0 0
ARROW INVTS TR RESV CAP ETF 042765719 44,639 446,303 SH   SOLE   446,303 0 0
ARROW INVTS TR RVRSE CAP500 ETF 042765677 7,385 319,851 SH   SOLE   319,851 0 0
BORGWARNER INC COM 099724106 341 7,034 SH   SOLE   7,034 0 0
BP MIDSTREAM PARTNERS LP UNIT LTD PTNR 0556EL109 309 21,359 SH   SOLE   21,359 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 278 20,304 SH   SOLE   20,304 0 0
C H ROBINSON WORLDWIDE INC COM NEW 12541W209 211 2,251 SH   SOLE   2,251 0 0
CBRE GROUP INC CL A 12504L109 583 6,795 SH   SOLE   6,795 0 0
CITY OFFICE REIT INC COM 178587101 316 25,423 SH   SOLE   25,423 0 0
COLUMBIA PPTY TR INC COM NEW 198287203 267 15,339 SH   SOLE   15,339 0 0
CRESTWOOD EQUITY PARTNERS LP UNIT LTD PARTNER 226344208 296 9,889 SH   SOLE   9,889 0 0
DBX ETF TR XTRACK USD HIGH 233051432 295 7,313 SH   SOLE   7,313 0 0
DCP MIDSTREAM LP COM UT LTD PTN 23311P100 386 12,574 SH   SOLE   12,574 0 0
DEERE & CO COM 244199105 553 1,568 SH   SOLE   1,568 0 0
DELEK LOGISTICS PARTNERS LP COM UNT RP INT 24664T103 316 7,527 SH   SOLE   7,527 0 0
DOW INC COM 260557103 280 4,430 SH   SOLE   4,430 0 0
EASTMAN CHEM CO COM 277432100 581 4,973 SH   SOLE   4,973 0 0
ENABLE MIDSTREAM PARTNERS LP COM UNIT RP IN 292480100 364 40,000 SH   SOLE   40,000 0 0
ENERGY TRANSFER L P COM UT LTD PTN 29273V100 366 34,433 SH   SOLE   34,433 0 0
ENLINK MIDSTREAM LLC COM UNIT REP LTD 29336T100 408 63,923 SH   SOLE   63,923 0 0
ENPHASE ENERGY INC COM 29355A107 212 1,153 SH   SOLE   1,153 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 288 11,950 SH   SOLE   11,950 0 0
FASTENAL CO COM 311900104 216 4,163 SH   SOLE   4,163 0 0
FIRST TR MID CAP CORE ALPHAD COM SHS 33735B108 5,879 58,727 SH   SOLE   58,727 0 0
FIRST TR SML CP CORE ALPHA F COM SHS 33734Y109 6,043 64,732 SH   SOLE   64,732 0 0
FRANKLIN STR PPTYS CORP COM 35471R106 252 47,885 SH   SOLE   47,885 0 0
FREEPORT-MCMORAN INC CL B 35671D857 504 13,570 SH   SOLE   13,570 0 0
GENESIS ENERGY L P UNIT LTD PARTN 371927104 347 29,888 SH   SOLE   29,888 0 0
GETTY RLTY CORP NEW COM 374297109 288 9,242 SH   SOLE   9,242 0 0
GLOBAL NET LEASE INC COM NEW 379378201 269 14,553 SH   SOLE   14,553 0 0
GLOBAL PARTNERS LP COM UNITS 37946R109 319 12,291 SH   SOLE   12,291 0 0
GRAINGER W W INC COM 384802104 229 523 SH   SOLE   523 0 0
HCA HEALTHCARE INC COM 40412C101 289 1,398 SH   SOLE   1,398 0 0
HESS MIDSTREAM LP CL A SHS 428103105 318 12,604 SH   SOLE   12,604 0 0
HOEGH LNG PARTNERS LP COM UNIT LTD Y3262R100 324 18,440 SH   SOLE   18,440 0 0
HUNT J B TRANS SVCS INC COM 445658107 331 2,033 SH   SOLE   2,033 0 0
INDUSTRIAL LOGISTICS PPTYS T COM SHS BEN INT 456237106 294 11,251 SH   SOLE   11,251 0 0
INVESCO DB COMMDY INDX TRCK UNIT 46138B103 3,472 180,358 SH   SOLE   180,358 0 0
INVESCO DB MULTI-SECTOR COMM OIL FD 46140H403 419 32,484 SH   SOLE   32,484 0 0
ISHARES TR 20 YR TR BD ETF 464287432 6,723 46,571 SH   SOLE   46,571 0 0
ISHARES TR CONV BD ETF 46435G102 308 3,024 SH   SOLE   3,024 0 0
ISHARES TR IBOXX HI YD ETF 464288513 2,103 23,892 SH   SOLE   23,892 0 0
ISHARES TR IBOXX INV CP ETF 464287242 2,489 18,528 SH   SOLE   18,528 0 0
ISHARES TR JPMORGAN USD EMG 464288281 2,472 21,982 SH   SOLE   21,982 0 0
ISHARES TR MSCI INDIA ETF 46429B598 1,520 34,355 SH   SOLE   34,355 0 0
ISHARES TR S&P SML 600 GWT 464287887 6,190 46,668 SH   SOLE   46,668 0 0
JPMORGAN CHASE & CO ALERIAN ML ETN 46625H365 1,987 101,118 SH   SOLE   101,118 0 0
KIMBELL RTY PARTNERS LP UNIT 49435R102 338 26,273 SH   SOLE   26,273 0 0
KNOT OFFSHORE PARTNERS LP COM UNITS Y48125101 297 14,878 SH   SOLE   14,878 0 0
LEGGETT & PLATT INC COM 524660107 406 7,827 SH   SOLE   7,827 0 0
LUMEN TECHNOLOGIES INC COM 550241103 339 24,947 SH   SOLE   24,947 0 0
LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 289 2,807 SH   SOLE   2,807 0 0
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 305 6,244 SH   SOLE   6,244 0 0
MARTIN MARIETTA MATLS INC COM 573284106 315 895 SH   SOLE   895 0 0
MOBILE TELESYSTEMS PJSC SPONSORED ADR 607409109 301 32,506 SH   SOLE   32,506 0 0
MOHAWK INDS INC COM 608190104 342 1,781 SH   SOLE   1,781 0 0
MPLX LP COM UNIT REP LTD 55336V100 312 10,553 SH   SOLE   10,553 0 0
NATIONAL HEALTH INVS INC COM 63633D104 246 3,667 SH   SOLE   3,667 0 0
NEWELL BRANDS INC COM 651229106 639 23,252 SH   SOLE   23,252 0 0
NEWS CORP NEW CL A 65249B109 284 11,024 SH   SOLE   11,024 0 0
NEWS CORP NEW CL B 65249B208 320 13,154 SH   SOLE   13,154 0 0
NUCOR CORP COM 670346105 561 5,845 SH   SOLE   5,845 0 0
NUSTAR ENERGY LP UNIT COM 67058H102 291 16,116 SH   SOLE   16,116 0 0
OASIS MIDSTREAM PARTNERS LP COM UNITS REPS 67420T206 303 12,939 SH   SOLE   12,939 0 0
OFFICE PPTYS INCOME TR COM SHS BEN INT 67623C109 275 9,372 SH   SOLE   9,372 0 0
OLD DOMINION FREIGHT LINE IN COM 679580100 315 1,241 SH   SOLE   1,241 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 261 7,194 SH   SOLE   7,194 0 0
PBF LOGISTICS LP UNIT LTD PTNR 69318Q104 279 18,777 SH   SOLE   18,777 0 0
PHILLIPS 66 PARTNERS LP COM UNIT REP INT 718549207 343 8,689 SH   SOLE   8,689 0 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 342 30,090 SH   SOLE   30,090 0 0
PLAINS GP HLDGS L P LTD PARTNR INT A 72651A207 353 29,525 SH   SOLE   29,525 0 0
PULTE GROUP INC COM 745867101 207 3,790 SH   SOLE   3,790 0 0
QUANTA SVCS INC COM 74762E102 612 6,754 SH   SOLE   6,754 0 0
RATTLER MIDSTREAM LP COM UNITS 75419T103 283 25,891 SH   SOLE   25,891 0 0
RAYMOND JAMES FINL INC COM 754730109 204 1,569 SH   SOLE   1,569 0 0
ROBERT HALF INTL INC COM 770323103 660 7,420 SH   SOLE   7,420 0 0
SELECT SECTOR SPDR TR FINANCIAL 81369Y605 5,668 154,471 SH   SOLE   154,471 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 5,842 57,049 SH   SOLE   57,049 0 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 5,700 69,251 SH   SOLE   69,251 0 0
SHELL MIDSTREAM PARTNERS L P UNIT LTD INT 822634101 302 20,475 SH   SOLE   20,475 0 0
SL GREEN RLTY CORP COM 78440X804 296 3,700 SH   SOLE   3,700 0 0
SPDR SER TR BLMBRG BRC CNVRT 78464A359 1,959 22,586 SH   SOLE   22,586 0 0
SPIRIT RLTY CAP INC NEW COM NEW 84860W300 302 6,303 SH   SOLE   6,303 0 0
SUBURBAN PROPANE PARTNERS L UNIT LTD PARTN 864482104 273 17,813 SH   SOLE   17,813 0 0
SUNOCO LP/SUNOCO FIN CORP COM UT REP LP 86765K109 313 8,298 SH   SOLE   8,298 0 0
TELEFONICA BRASIL SA NEW ADR 87936R205 286 33,610 SH   SOLE   33,610 0 0
UNITED RENTALS INC COM 911363109 222 696 SH   SOLE   696 0 0
UNIVERSAL HLTH SVCS INC CL B 913903100 336 2,293 SH   SOLE   2,293 0 0
USA COMPRESSION PARTNERS LP COMUNIT LTDPAR 90290N109 288 17,498 SH   SOLE   17,498 0 0
VANGUARD INDEX FDS MCAP GR IDXVIP 922908538 5,868 24,828 SH   SOLE   24,828 0 0
VANGUARD INDEX FDS SM CP VAL ETF 922908611 7,344 42,290 SH   SOLE   42,290 0 0
VULCAN MATLS CO COM 929160109 309 1,773 SH   SOLE   1,773 0 0
WABTEC COM 929740108 211 2,565 SH   SOLE   2,565 0 0
WESTERN MIDSTREAM PARTNERS L COM UNIT LP INT 958669103 316 14,754 SH   SOLE   14,754 0 0
WP CAREY INC COM 92936U109 282 3,780 SH   SOLE   3,780 0 0