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Institutional Investment Manager
Partnervest Advisory Services LLC
Partnervest Advisory Services LLC (CIK: 0001532516) incorporated in California, located at 360 S. Hope Ave., Santa Barbara, CA. Institutional holdings reported to the SEC.

Institutional Holdings (2015Q1)
Portfolio Summary: 164 holdings with a total value of $193,152,000.
#
Name
Shares
Value ($)
%
Options
Notes
151 SELECT SECTOR SPDR TR 82,222 1,981,000 1.03%
152 SPDR DOW JONES INDL AVRG ETF 12,562 2,231,000 1.16%
153 ISHARES 5-10 YEAR INVESTMENT GRADE CORPORATE BOND ETF 22,354 2,474,000 1.28%
154 SELECT SECTOR SPDR TR 31,961 2,479,000 1.28%
155 ISHARES TR 28,166 2,508,000 1.30%
156 ISHARES TR 25,549 2,696,000 1.40%
157 ISHARES TR 48,634 2,919,000 1.51%
158 ISHARES IBOXX $ HIGH YIELD CORPORATE BOND ETF 33,160 3,004,000 1.56%
159 ISHARES TR 85,972 5,516,000 2.86%
160 RELIANCE STEEL & ALUMINUM CO 105,000 6,413,000 3.32%
161 INTERNATIONAL BUSINESS MACHS 45,747 7,342,000 3.80%
162 ISHARES TR 80,462 8,966,000 4.64%
163 ADVISORSHARES TR 891,396 23,809,000 12.33%
164 SPDR S&P 500 ETF TR 211,285 43,615,000 22.58%
Page 4 of 4

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001580642-15-002112, filed 2015.05.11).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.