BTS Asset Management 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

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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
Alerian MLP ETF	ETF	00162Q452	545,741	13,918	SH		SOLE		0	0	0
ALPS Sector Dividend Dogs ETF	ETF	00162Q858	276,725	5,538	SH		SOLE		0	0	0
Xtrackers USD High Yield Corporate Bond ETF	ETF	233051432	65,986,798	1,912,661	SH		SOLE		0	0	0
Invesco S&P 500 Low Volatility ETF	ETF	46138E354	5,711,700	90,936	SH		SOLE		0	0	0
Invesco S&P 500 High Dividend Low Volatility ETF	ETF	46138E362	3,140,550	50,001	SH		SOLE		0	0	0
Invesco CEF Income Composite ETF	ETF	46138E404	420,423	23,253	SH		SOLE		0	0	0
Invesco Variable Rate Preferred ETF	ETF	46138G870	544,312	24,463	SH		SOLE		0	0	0
iShares Agency Bond ETF	ETF	464288166	387,004	3,618	SH		SOLE		0	0	0
iShares iBoxx High Yield Corporate Bond ETF	ETF	464288513	2,591,341	34,519	SH		SOLE		0	0	0
iShares JP Morgan USD Emerging Markets Bond ETF	ETF	464288281	270,119	3,121	SH		SOLE		0	0	0
iShares National Muni Bond ETF	ETF	464288414	931,490	8,728	SH		SOLE		0	0	0
iShares MBS ETF	ETF	464288588	392,686	4,210	SH		SOLE		0	0	0
iShares US Treasury Bond ETF	ETF	46429B267	656,363	28,662	SH		SOLE		0	0	0
iShares Floating Rate Bond ETF	ETF	46429B655	424,521	8,354	SH		SOLE		0	0	0
iShares MSCI USA Min Vol Factor ETF	ETF	46429B697	8,394,906	112,941	SH		SOLE		0	0	0
iShares Treasury Floating Rate Bond ETF	ETF	46434V860	527,728	10,415	SH		SOLE		0	0	0
iShares Mortgage Real Estate ETF	ETF	46435G342	292,658	12,401	SH		SOLE		0	0	0
iShares Broad USD High Yield Corporate Bond ETF	ETF	46435U853	693,388	19,643	SH		SOLE		0	0	0
JPMorgan Equity Premium Income ETF	ETF	46641Q332	695,456	12,569	SH		SOLE		0	0	0
JPMorgan Nasdaq Equity Premium Income ETF	ETF	46654Q203	743,540	15,372	SH		SOLE		0	0	0
Janus Henderson AAA CLO ETF	ETF	47103U845	683,459	13,710	SH		SOLE		0	0	0
ProShares S&P 500 Dividend Aristocrats ETF	ETF	74348A467	420,827	4,464	SH		SOLE		0	0	0
SPDR Nuveen Bloomberg High Yield Municipal Bond ETF	ETF	78464A284	402,095	16,077	SH		SOLE		0	0	0
SPDR Bloomberg Convertible Securities ETF	ETF	78464A359	8,810,075	125,948	SH		SOLE		0	0	0
SPDR Blackstone Senior Loan ETF	ETF	78467V608	548,669	13,104	SH		SOLE		0	0	0
SPDR Portfolio High Yield Bond ETF	ETF	78468R606	407,219	17,829	SH		SOLE		0	0	0
SPDR Bloomberg High Yield Bond ETF	ETF	78468R622	64,869,295	704,871	SH		SOLE		0	0	0
VanEck International High Yield Bond ETF	ETF	92189F445	267,942	13,380	SH		SOLE		0	0	0
VanEck High Yield Muni ETF	ETF	92189H409	8,389,511	163,411	SH		SOLE		0	0	0
Vanguard Total Bond Market ETF	ETF	921937835	9,842,379	135,402	SH		SOLE		0	0	0
Vanguard Short-Term Treasury ETF	ETF	92206C102	397,157	6,880	SH		SOLE		0	0	0
Vanguard Intermediate-Term Corporate Bond ETF	ETF	92206C870	898,176	11,365	SH		SOLE		0	0	0
iShares MSCI Emerging Markets ETF	ETF	464287234	1,267,525	32,041	SH		SOLE		0	0	0
iShares US Industrial ETF	ETF	464287754	476,639	4,495	SH		SOLE		0	0	0
Vanguard Small Cap Value Index Fund ETF	ETF	922908611	1,079,695	6,528	SH		SOLE		0	0	0
Vanguard Information Technology Index Fund ETF	ETF	92204A702	258,745	585	SH		SOLE		0	0	0
Vanguard Utilities Index Fund ETF	ETF	92204A876	218,363	1,536	SH		SOLE		0	0	0
Vanguard Dividend Appreciation Index Fund ETF	ETF	921908844	3,665,034	22,564	SH		SOLE		0	0	0
Vanguard Consumer Staples Index Fund ETF	ETF	92204A207	225,659	1,161	SH		SOLE		0	0	0
Vanguard Financials Index Fund ETF	ETF	92204A405	703,278	8,657	SH		SOLE		0	0	0
Vanguard Health Care Index Fund ETF	ETF	92204A504	460,935	1,883	SH		SOLE		0	0	0