ARROW DWA TACTICAL: MACRO FUND | |||||||
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) | |||||||
October 31, 2024 | |||||||
Shares | Fair Value | ||||||
EXCHANGE-TRADED FUNDS — 82.5% | |||||||
EQUITY - 82.5% | |||||||
75,602 | Financial Select Sector SPDR Fund | $ 3,513,981 | |||||
33,617 | Industrial Select Sector SPDR Fund | 4,498,963 | |||||
76,040 | Invesco Dividend Achievers ETF | 3,481,111 | |||||
51,500 | Invesco S&P 500 Pure Value ETF | 4,565,475 | |||||
18,011 | iShares MSCI USA Momentum Factor ETF | 3,645,607 | |||||
26,741 | iShares MSCI USA Quality Factor ETF | 4,717,647 | |||||
49,840 | iShares S&P 500 Growth ETF | 4,740,282 | |||||
19,567 | Technology Select Sector SPDR Fund | 4,348,570 | |||||
TOTAL EXCHANGE-TRADED FUNDS (Cost $26,740,350) | 33,511,636 | ||||||
SHORT-TERM INVESTMENT — 13.1% | |||||||
MONEY MARKET FUND - 13.1% | |||||||
5,303,829 | First American Government Obligations Fund, Class X, 4.78%(b)(d) (Cost $5,303,829) | 5,303,829 | |||||
Contracts(a) | |||||||
FUTURE OPTIONS PURCHASED - 0.1% | Broker/Counterparty | Expiration Date | Exercise Price | Notional Value | Fair Value | ||
PUT OPTIONS PURCHASED - 0.1% | |||||||
42 | S&P500 E-Mini Option | GS | 12/20/2024 | $ 5,000 | $ 11,981,445 | $ 54,075 | |
TOTAL PUT OPTIONS PURCHASED (Cost - $147,525) | |||||||
TOTAL FUTURE OPTIONS PURCHASED (Cost - $147,525) | 54,075 | ||||||
TOTAL INVESTMENTS - 95.7% (Cost $32,191,704) | $ 38,869,540 | ||||||
CALL OPTIONS WRITTEN - (0.4)% (Proceeds received - $77,675) | (142,675) | ||||||
OTHER ASSETS IN EXCESS OF LIABILITIES - 4.7% | 1,892,815 | ||||||
NET ASSETS - 100.0% | $ 40,619,680 | ||||||
ARROW DWA TACTICAL: MACRO FUND | |||||||
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
October 31, 2024 | |||||||
Contracts(a) | |||||||
WRITTEN FUTURE OPTIONS - (0.4)% | Broker/Counterparty | Expiration Date | Exercise Price | Notional Value | Fair Value | ||
CALL OPTIONS WRITTEN- (0.4)% | |||||||
26 | S&P500 E-Mini Option | GS | 12/20/2024 | $ 5,800 | $ 7,417,085 | $ 142,675 | |
TOTAL CALL OPTIONS WRITTEN (Proceeds - $77,675) | |||||||
TOTAL FUTURE OPTIONS WRITTEN (Proceeds - $77,675) | $ 142,675 | ||||||
OPEN FUTURES CONTRACTS | |||||||
Number of Contracts | Open Long Futures Contracts | Expiration | Notional Amount(c) | Value and Unrealized Appreciation | |||
14 | COMEX Gold 100 Troy Ounces Future(d) | 12/30/2024 | $ 3,849,020 | $ 294,200 | |||
22 | COMEX Silver Future(d) | 12/30/2024 | 3,607,560 | 538,635 | |||
TOTAL FUTURES CONTRACTS | $ 832,835 | ||||||
ETF | - Exchange-Traded Fund |
MSCI | - Morgan Stanley Capital International |
SPDR | - Standard & Poor's Depositary Receipt |
GS | - Goldman Sachs |
(a) | Each contract is equivalent to one futures contract. |
(b) | Rate disclosed is the seven day effective yield as of October 31, 2024. |
(c) | The amounts shown are the underlying reference notional amounts to stock exchange indices and equities upon which the fair value of the futures contracts held by the Fund are based. Notional values do not represent the current fair value of, and are not necessarily indicative of the future cash flows of the Fund's futures contracts. Further, the underlying price changes in relation to the variables specified by the notional values affects the fair value of these derivative financial instruments. The notional values as set forth within this schedule do not purport to represent economic value at risk to the Fund. |
(d) | All or a portion of this investment is a holding of the ADWAT Fund. |