Arrow Investment Advisors 13F-HR Quarterly holdings report by institutional manager

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
Expires:	Oct 31, 2018
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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	539	22,956	SH		SOLE		22,956	0	0
ANTERO MIDSTREAM CORP	COM	03676B102	342	44,310	SH		SOLE		44,310	0	0
ARROW INVTS TR	DWA COUNTRY ETF	042765685	11,016	336,766	SH		SOLE		336,766	0	0
ARROW INVTS TR	RESV CAP ETF	042765719	44,627	445,803	SH		SOLE		445,803	0	0
BP MIDSTREAM PARTNERS LP	UNIT LTD PTNR	0556EL109	244	23,025	SH		SOLE		23,025	0	0
BRANDYWINE RLTY TR	SH BEN INT NEW	105368203	261	21,953	SH		SOLE		21,953	0	0
CRESTWOOD EQUITY PARTNERS LP	UNIT LTD PARTNER	226344208	372	19,591	SH		SOLE		19,591	0	0
CROSSAMERICA PARTNERS LP	UT LTD PTN INT	22758A105	244	14,219	SH		SOLE		14,219	0	0
DCP MIDSTREAM LP	COM UT LTD PTN	23311P100	437	23,593	SH		SOLE		23,593	0	0
DORCHESTER MINERALS LP	COM UNIT	25820R105	249	22,787	SH		SOLE		22,787	0	0
ENABLE MIDSTREAM PARTNERS LP	COM UNIT RP IN	292480100	303	57,517	SH		SOLE		57,517	0	0
ENERGY TRANSFER LP	COM UT LTD PTN	29273V100	277	44,752	SH		SOLE		44,752	0	0
ENLINK MIDSTREAM LLC	COM UNIT REP LTD	29336T100	368	99,155	SH		SOLE		99,155	0	0
FIRST TR SML CP CORE ALPHA F	COM SHS	33734Y109	4,779	62,093	SH		SOLE		62,093	0	0
FORD MTR CO DEL	COM	345370860	232	26,344	SH		SOLE		26,344	0	0
FRANKLIN STR PPTYS CORP	COM	35471R106	269	61,582	SH		SOLE		61,582	0	0
FREEPORT-MCMORAN INC	CL B	35671D857	530	20,363	SH		SOLE		20,363	0	0
FRONT YD RESIDENTIAL CORP	COM	35904G107	395	24,406	SH		SOLE		24,406	0	0
GENESIS ENERGY L P	UNIT LTD PARTN	371927104	304	48,913	SH		SOLE		48,913	0	0
GLOBAL NET LEASE INC	COM NEW	379378201	240	13,983	SH		SOLE		13,983	0	0
GLOBAL PARTNERS LP	COM UNITS	37946R109	294	17,707	SH		SOLE		17,707	0	0
HOEGH LNG PARTNERS LP	COM UNIT LTD	Y3262R100	311	21,722	SH		SOLE		21,722	0	0
INDEPENDENCE RLTY TR INC	COM	45378A106	261	19,400	SH		SOLE		19,400	0	0
ISHARES TR	1 3 YR TREAS BD	464287457	2,420	28,020	SH		SOLE		28,020	0	0
ISHARES TR	IBOXX HI YD ETF	464288513	1,834	21,007	SH		SOLE		21,007	0	0
ISHARES TR	IBOXX INV CP ETF	464287242	2,140	15,490	SH		SOLE		15,490	0	0
ISHARES TR	JPMORGAN USD EMG	464288281	2,282	19,692	SH		SOLE		19,692	0	0
ISHARES TR	MSCI EMG MKT ETF	464287234	6,081	117,697	SH		SOLE		117,697	0	0
ISHARES TR	MSCI INDIA ETF	46429B598	595	14,804	SH		SOLE		14,804	0	0
ISHARES TR	MSCI INDONIA ETF	46429B309	610	26,041	SH		SOLE		26,041	0	0
ISHARES TR	MSCI USA MMENTM	46432F396	6,211	38,508	SH		SOLE		38,508	0	0
ISHARES TR	MSCI USA QLT FCT	46432F339	5,615	48,314	SH		SOLE		48,314	0	0
ISHARES TR	S&P 500 GRWT ETF	464287309	6,383	100,021	SH		SOLE		100,021	0	0
ISHARES TR	TIPS BD ETF	464287176	2,560	20,058	SH		SOLE		20,058	0	0
KIMBELL RTY PARTNERS LP	UNIT	49435R102	276	34,905	SH		SOLE		34,905	0	0
KITE RLTY GROUP TR	COM NEW	49803T300	300	20,042	SH		SOLE		20,042	0	0
KNOT OFFSHORE PARTNERS LP	COM UNITS	Y48125101	270	17,922	SH		SOLE		17,922	0	0
LUMEN TECHNOLOGIES INC	COM	156700106	210	21,566	SH		SOLE		21,566	0	0
MOBILE TELESYSTEMS PJSC	SPONSORED ADR	607409109	220	24,574	SH		SOLE		24,574	0	0
MPLX LP	COM UNIT REP LTD	55336V100	306	14,157	SH		SOLE		14,157	0	0
NEWELL BRANDS INC	COM	651229106	483	22,731	SH		SOLE		22,731	0	0
NEWS CORP NEW	CL A	65249B109	243	13,522	SH		SOLE		13,522	0	0
NEWS CORP NEW	CL B	65249B208	239	13,446	SH		SOLE		13,446	0	0
NUSTAR ENERGY LP	UNIT COM	67058H102	312	21,661	SH		SOLE		21,661	0	0
OFFICE PPTYS INCOME TR	COM SHS BEN INT	67623C109	236	10,382	SH		SOLE		10,382	0	0
PBF LOGISTICS LP	UNIT LTD PTNR	69318Q104	247	27,047	SH		SOLE		27,047	0	0
RATTLER MIDSTREAM LP	COM UNITS	75419T103	356	37,527	SH		SOLE		37,527	0	0
SCHWAB STRATEGIC TR	US TIPS ETF	808524870	1,726	27,798	SH		SOLE		27,798	0	0
SELECT SECTOR SPDR TR	SBI CONS DISCR	81369Y407	5,376	33,440	SH		SOLE		33,440	0	0
SELECT SECTOR SPDR TR	SBI MATERIALS	81369Y100	5,761	79,586	SH		SOLE		79,586	0	0
SELECT SECTOR SPDR TR	TECHNOLOGY	81369Y803	9,108	70,053	SH		SOLE		70,053	0	0
SHELL MIDSTREAM PARTNERS L P	UNIT LTD INT	822634101	247	24,513	SH		SOLE		24,513	0	0
SPDR SER TR	BLMBRG BRC CNVRT	78464A359	2,533	30,591	SH		SOLE		30,591	0	0
SPDR SER TR	PORTFLI TIPS ETF	78464A656	505	16,192	SH		SOLE		16,192	0	0
SPRAGUE RES LP	COM UNIT REP LTD	849343108	277	14,594	SH		SOLE		14,594	0	0
SUBURBAN PROPANE PARTNERS L	UNIT LTD PARTN	864482104	241	16,247	SH		SOLE		16,247	0	0
USA COMPRESSION PARTNERS LP	COMUNIT LTDPAR	90290N109	306	22,520	SH		SOLE		22,520	0	0
VANGUARD INDEX FDS	MCAP GR IDXVIP	922908538	7,246	34,169	SH		SOLE		34,169	0	0
VEON LTD	SPONSORED ADR	91822M106	252	166,722	SH		SOLE		166,722	0	0
WESTERN MIDSTREAM PARTNERS L	COM UNIT LP INT	958669103	435	31,500	SH		SOLE		31,500	0	0