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
ALLIANCE HOLDINGS GP LP COM UNITS LP 01861G100 715 26,677 SH   SOLE 26,677 0 0
AMERICAN MIDSTREAM PARTNERS COM UNITS 02752P100 716 53,644 SH   SOLE 53,644 0 0
APPLE HOSPITALITY REIT INC COM NEW 03784Y200 646 32,927 SH   SOLE 32,927 0 0
ARROW INVTS TR RESV CAP ETF 042765719 58,447 583,187 SH   SOLE 583,187 0 0
ASHFORD HOSPITALITY TR INC COM SHS 044103109 638 94,854 SH   SOLE 94,854 0 0
BEST BUY INC COM 086516101 1,175 17,165 SH   SOLE 17,165 0 0
CAPITAL PRODUCT PARTNERS L P COM UNIT LP Y11082107 673 200,221 SH   SOLE 200,221 0 0
CBL & ASSOC PPTYS INC COM 124830100 418 73,925 SH   SOLE 73,925 0 0
CENTURYLINK INC COM 156700106 568 34,081 SH   SOLE 34,081 0 0
CHESAPEAKE LODGING TR SH BEN INT 165240102 638 23,548 SH   SOLE 23,548 0 0
CNA FINL CORP COM 126117100 679 12,800 SH   SOLE 12,800 0 0
CORNING INC COM 219350105 464 14,502 SH   SOLE 14,502 0 0
CRESTWOOD EQUITY PARTNERS LP UNIT LTD PARTNER 226344208 756 29,320 SH   SOLE 29,320 0 0
CROSSAMERICA PARTNERS LP UT LTD PTN INT 22758A105 618 26,023 SH   SOLE 26,023 0 0
DELEK LOGISTICS PARTNERS LP COM UNT RP INT 24664T103 760 23,972 SH   SOLE 23,972 0 0
DUKE REALTY CORP COM NEW 264411505 448 16,462 SH   SOLE 16,462 0 0
DYNAGAS LNG PARTNERS LP COM UNIT LTD PT Y2188B108 572 52,639 SH   SOLE 52,639 0 0
ENBRIDGE ENERGY PARTNERS L P COM 29250R106 634 45,890 SH   SOLE 45,890 0 0
FLIR SYS INC COM 302445101 943 20,233 SH   SOLE 20,233 0 0
FRANKLIN STREET PPTYS CORP COM 35471R106 648 60,293 SH   SOLE 60,293 0 0
GLOBAL PARTNERS LP COM UNITS 37946R109 700 41,907 SH   SOLE 41,907 0 0
GOLAR LNG PARTNERS LP COM UNIT LPI Y2745C102 726 31,856 SH   SOLE 31,856 0 0
GREEN PLAINS PARTNERS LP COM REP PTR IN 393221106 665 35,544 SH   SOLE 35,544 0 0
GUESS INC COM 401617105 663 39,277 SH   SOLE 39,277 0 0
HOSPITALITY PPTYS TR COM SH BEN INT 44106M102 654 21,900 SH   SOLE 21,900 0 0
INDEPENDENCE RLTY TR INC COM 45378A106 609 60,373 SH   SOLE 60,373 0 0
ISHARES INC MSCI AUSTRIA ETF 464286202 5,056 205,212 SH   SOLE 205,212 0 0
ISHARES INC MSCI BELGIUM ETF 464286301 304 14,450 SH   SOLE 14,450 0 0
ISHARES INC MSCI EURZONE ETF 464286608 18,786 433,060 SH   SOLE 433,060 0 0
ISHARES INC MSCI STH KOR ETF 464286772 5,130 68,458 SH   SOLE 68,458 0 0
ISHARES INC MSCI NETHERL ETF 464286814 4,604 145,091 SH   SOLE 145,091 0 0
ISHARES INC MSCI JPN ETF NEW 46434G822 18,941 316,049 SH   SOLE 316,049 0 0
ISHARES INC MSCI ITALY ETF 46434G830 4,545 149,311 SH   SOLE 149,311 0 0
ISHARES TR TIPS BD ETF 464287176 5,651 49,535 SH   SOLE 49,535 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 19,494 413,702 SH   SOLE 413,702 0 0
ISHARES TR IBOXX INV CP ETF 464287242 4,624 38,036 SH   SOLE 38,036 0 0
ISHARES TR 1 3 YR TREAS BD 464287457 13,806 164,648 SH   SOLE 164,648 0 0
ISHARES TR S&P SML 600 GWT 464287887 17,881 105,092 SH   SOLE 105,092 0 0
ISHARES TR IBOXX HI YD ETF 464288513 3,586 41,100 SH   SOLE 41,100 0 0
ISHARES TR MSCI POLAND ETF 46429B606 304 11,240 SH   SOLE 11,240 0 0
ISHARES TR MSCI CHINA ETF 46429B671 4,964 74,595 SH   SOLE 74,595 0 0
ISHARES TR EDGE MSCI USA VL 46432F388 19,394 231,932 SH   SOLE 231,932 0 0
ISHARES TR USA MOMENTUM FCT 46432F396 21,493 208,407 SH   SOLE 208,407 0 0
KNOT OFFSHORE PARTNERS LP COM UNITS Y48125101 633 30,510 SH   SOLE 30,510 0 0
LASALLE HOTEL PPTYS COM SH BEN INT 517942108 598 21,318 SH   SOLE 21,318 0 0
MARTIN MIDSTREAM PRTNRS L P UNIT L P INT 573331105 602 42,984 SH   SOLE 42,984 0 0
MGM RESORTS INTERNATIONAL COM 552953101 467 13,998 SH   SOLE 13,998 0 0
NUSTAR ENERGY LP UNIT COM 67058H102 532 17,778 SH   SOLE 17,778 0 0
PBF LOGISTICS LP UNIT LTD PTNR 69318Q104 715 34,146 SH   SOLE 34,146 0 0
RLJ LODGING TR COM 74965L101 618 28,140 SH   SOLE 28,140 0 0
SANCHEZ MIDSTREAM PARTNERS L COM UNITS REP B 79971C201 743 66,960 SH   SOLE 66,960 0 0
SEADRILL PARTNERS LLC COMUNIT REP LB Y7545W109 701 191,626 SH   SOLE 191,626 0 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 17,959 296,699 SH   SOLE 296,699 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 20,248 725,475 SH   SOLE 725,475 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 21,207 331,622 SH   SOLE 331,622 0 0
SENIOR HSG PPTYS TR SH BEN INT 81721M109 604 31,550 SH   SOLE 31,550 0 0
SPDR SERIES TRUST BLMBRG BRC CNVRT 78464A359 4,459 88,116 SH   SOLE 88,116 0 0
STONEMOR PARTNERS L P COM UNITS INT 86183Q100 749 114,194 SH   SOLE 114,194 0 0
SUBURBAN PROPANE PARTNERS L UNIT LTD PARTN 864482104 710 29,329 SH   SOLE 29,329 0 0
SUMMIT MIDSTREAM PARTNERS LP COM UNIT LTD 866142102 702 34,252 SH   SOLE 34,252 0 0
SUNCOKE ENERGY PARTNERS L P COMUNIT REP LT 86722Y101 730 41,835 SH   SOLE 41,835 0 0
SUNOCO LP COM U REP LP 86765K109 656 23,116 SH   SOLE 23,116 0 0
TEEKAY OFFSHORE PARTNERS L P PARTNERSHIP UN Y8565J101 657 278,480 SH   SOLE 278,480 0 0
USA COMPRESSION PARTNERS LP COMUNIT LTDPAR 90290N109 749 45,272 SH   SOLE 45,272 0 0
VANECK VECTORS ETF TR FALLEN ANGEL HG 92189F437 3,059 102,151 SH   SOLE 102,151 0 0
VANECK VECTORS ETF TR INTL HIGH YIELD 92189F445 2,553 99,581 SH   SOLE 99,581 0 0
VANGUARD INDEX FDS MCAP GR IDXVIP 922908538 6,234 48,808 SH   SOLE 48,808 0 0
VANGUARD INDEX FDS GROWTH ETF 922908736 26,696 189,804 SH   SOLE 189,804 0 0
WADDELL & REED FINL INC CL A 930059100 753 33,700 SH   SOLE 33,700 0 0
WASHINGTON PRIME GROUP NEW COM 93964W108 538 75,546 SH   SOLE 75,546 0 0
XENIA HOTELS & RESORTS INC COM 984017103 636 29,450 SH   SOLE 29,450 0 0