Crabel Capital Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Crabel Capital Management, LLC reported 53 stock positions worth $111.7 million. Its top holding was Ishr Ibx Usd Hiyld CB ETF-Ui (HYG) at 10.0% of the portfolio, followed by SS SPDR BB High Yield Bond (JNK, 9.3%) and Vanguard Int-Term Corporate (VCIT, 6.9%). Compared with Q2 2025, it opened 15 new positions, sold out of 10, added to 3 and reduced 35. The biggest buy was Vaneck Junior Gold Miners (GDXJ, shares +9%) and the biggest sale iShares JP Morgan Usd Emergi (EMB, shares −59%).
- Most Recent 13F
- Q2 2026
- Location
- MILWAUKEE, WI
- CIK
- 0001536557
- Portfolio Value
- $111.7M (Q3 2025)
- SEC Filing
- 0001104659-25-110790 ↗ filed Nov 13, 2025
Holdings Value
Holdings 53 stocks · $111.7M
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 10.03% | 137,943 | $11.2M | Reduce -32.8% |
| JNK SS SPDR BB High Yield Bond | 9.33% | 106,320 | $10.4M | Reduce -23.8% |
| VCIT Vanguard Int-Term Corporate | 6.86% | 91,143 | $7.7M | Reduce -33.7% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 6.82% | 68,367 | $7.6M | Reduce -15.2% |
| SJNK SS SPDR BB St Hi Yield ETF | 5.89% | 257,111 | $6.6M | Reduce -7.1% |
| TIP iShares Tips Bond ETF | 5.09% | 51,155 | $5.7M | Reduce -37.0% |
| AGG iShares Core U.S. Aggregate | 4.57% | 50,907 | $5.1M | Reduce -41.9% |
| GOVT iShares US Treasury Bond ETF | 3.61% | 174,244 | $4.0M | Reduce -40.8% |
| IEF iShares 7-10 Year Treasury B | 3.57% | 41,330 | $4.0M | Reduce -24.7% |
| BND Vanguard Total Bond Market | 3.56% | 53,512 | $4.0M | Reduce -55.0% |
| EMB iShares JP Morgan Usd Emergi | 3.33% | 39,056 | $3.7M | Reduce -59.4% |
| PFF iShares Preferred & Income S | 3.17% | 111,937 | $3.5M | Reduce -28.5% |
| BKLN Invesco Senior Loan ETF | 2.97% | 158,596 | $3.3M | Reduce -39.1% |
| EMLC Vaneck JPM Em Local Curr BND | 2.26% | 98,967 | $2.5M | Reduce -33.2% |
| MUB iShares National Muni Bond E | 2.08% | 21,811 | $2.3M | Reduce -22.3% |
| IEI iShares 3-7 Year Treasury Bo | 2.06% | 19,255 | $2.3M | Reduce -60.8% |
| SHYG iShares 0-5 YR HY Corp. Bond | 1.74% | 44,948 | $1.9M | Reduce -26.4% |
| GDXJ Vaneck Junior Gold Miners | 1.72% | 19,359 | $1.9M | Add +8.8% |
| GDX Vaneck Gold Miners ETF | 1.72% | 25,077 | $1.9M | Reduce -33.7% |
| BNDX Vanguard Total Intl Bond ETF | 1.60% | 36,067 | $1.8M | Reduce -32.1% |
| TLT iShares 20+ Year Treasury BD | 1.43% | 17,891 | $1.6M | Reduce -39.7% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 1.28% | 16,453 | $1.4M | Reduce -48.1% |
| MBB iShares MBS ETF | 1.26% | 14,835 | $1.4M | Reduce -53.3% |
| VTEB Vanguard Tax-Exempt Bond ETF | 1.03% | 22,909 | $1.1M | Reduce -12.2% |
| SILJ Amplify Junior Silver Miners | 0.93% | 45,000 | $1.0M | New |
| FLOT iShares Floating Rate Bond E | 0.91% | 19,935 | $1.0M | Reduce -49.6% |
| SPAB SS SPDR P Agg Bond ETF | 0.82% | 35,581 | $920K | Reduce -47.1% |
| VMBS Vanguard Mortgage-Backed Sec | 0.82% | 19,550 | $918K | Reduce -37.9% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.72% | 10,075 | $805K | Reduce -45.2% |
| VTIP Vanguard Short-Term Tips | 0.67% | 14,794 | $749K | Reduce -60.9% |
| VTI VG Morningstar TS MKT ETF-US | 0.66% | 2,247 | $737K | Add +8.9% |
| SCHZ Schwab US Aggregate Bond ETF | 0.60% | 28,531 | $670K | Reduce -48.0% |
| TFI SS SPDR N Ice Muni Bond ETF | 0.54% | 13,152 | $599K | Reduce -5.3% |
| PFE Pfizer Inc. | 0.51% | 22,378 | $570K | New |
| MRK Merck & Co. Inc. | 0.51% | 6,783 | $569K | New |
| HL Hecla Mining Co. | 0.49% | 45,000 | $545K | New |
| PG The Procter & Gamble Co. | 0.48% | 3,501 | $538K | Add +107.9% |
| HD Home Depot Inc. | 0.48% | 1,312 | $532K | New |
| FLRN SS SPDR BB Ig Float RT ETF | 0.44% | 16,069 | $496K | Reduce -40.9% |
| PAAS Pan American Silver Corp. | 0.35% | 10,000 | $387K | New |
| HYD Vaneck High Yield Muni ETF | 0.34% | 7,563 | $385K | Reduce -51.1% |
| PCY Invesco Emerging Markets Sov | 0.34% | 17,558 | $379K | Reduce -16.5% |
| PGX Invesco Preferred ETF | 0.26% | 25,169 | $292K | Reduce -20.6% |
| BSV Vanguard Short-Term Bond ETF | 0.26% | 3,686 | $291K | Reduce -60.4% |
| CSCO Cisco Systems Inc. | 0.24% | 3,972 | $272K | New |
| AMZN Amazon.com Inc. | 0.24% | 1,227 | $269K | New |
| ORCL Oracle Corp. | 0.24% | 953 | $268K | New |
| MA Mastercard Inc. Class A | 0.24% | 471 | $268K | New |
| UNH Unitedhealth Group Inc. | 0.24% | 773 | $267K | New |
| CMCSA Comcast Corp. Class A | 0.24% | 8,468 | $266K | New |
| FSM Fortuna Mining Corp. | 0.16% | 20,000 | $179K | New |
| SVM Silvercorp Metals Inc. | 0.14% | 25,000 | $158K | New |
| EXK Endeavour Silver Corp. | 0.14% | 20,000 | $157K | New |
Portfolio Sells Q2 2025 → Q3 2025
| EMB iShares JP Morgan Usd Emergi | Reduce -59.4% | 3.33% | −2.13 |
| BND Vanguard Total Bond Market | Reduce -55.0% | 3.56% | −1.80 |
| IEI iShares 3-7 Year Treasury Bo | Reduce -60.8% | 2.06% | −1.53 |
| AGG iShares Core U.S. Aggregate | Reduce -41.9% | 4.57% | −0.75 |
| MBB iShares MBS ETF | Reduce -53.3% | 1.26% | −0.56 |
| GOVT iShares US Treasury Bond ETF | Reduce -40.8% | 3.61% | −0.53 |
| VTIP Vanguard Short-Term Tips | Reduce -60.9% | 0.67% | −0.49 |
| EEM iShares MSCI Emerging Market | Sold out | 0.00% | −0.42 |
| TIP iShares Tips Bond ETF | Reduce -37.0% | 5.09% | −0.38 |
| BKLN Invesco Senior Loan ETF | Reduce -39.1% | 2.97% | −0.36 |
| FLOT iShares Floating Rate Bond E | Reduce -49.6% | 0.91% | −0.32 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Reduce -48.1% | 1.28% | −0.30 |
| USMV iShares MSCI USA Min Vol Fac | Sold out | 0.00% | −0.29 |
| SPAB SS SPDR P Agg Bond ETF | Reduce -47.1% | 0.82% | −0.23 |
| SHV iShares 0-1 Year Treasury Bo | Sold out | 0.00% | −0.22 |
| BSV Vanguard Short-Term Bond ETF | Reduce -60.4% | 0.26% | −0.19 |
| SCHZ Schwab US Aggregate Bond ETF | Reduce -48.0% | 0.60% | −0.18 |
| SHY iShares 1-3 Year Treasury Bo | Sold out | 0.00% | −0.17 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -45.2% | 0.72% | −0.17 |
| TLT iShares 20+ Year Treasury BD | Reduce -39.7% | 1.43% | −0.17 |
| PEP Pepsico Inc. | Sold out | 0.00% | −0.17 |
| VZ Verizon Communications Inc. | Sold out | 0.00% | −0.17 |
| KO The Coca-Cola Co. | Sold out | 0.00% | −0.17 |
| JNJ Johnson & Johnson | Sold out | 0.00% | −0.16 |
| VGSH Vanguard Short-Term Treasury | Sold out | 0.00% | −0.16 |
| HYD Vaneck High Yield Muni ETF | Reduce -51.1% | 0.34% | −0.13 |
| ICSH iShares Ultra Short Duration | Sold out | 0.00% | −0.13 |
| VCIT Vanguard Int-Term Corporate | Reduce -33.7% | 6.86% | −0.12 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -32.8% | 10.03% | −0.11 |
| VMBS Vanguard Mortgage-Backed Sec | Reduce -37.9% | 0.82% | −0.07 |
| FLRN SS SPDR BB Ig Float RT ETF | Reduce -40.9% | 0.44% | −0.07 |
| EMLC Vaneck JPM Em Local Curr BND | Reduce -33.2% | 2.26% | −0.04 |
| BNDX Vanguard Total Intl Bond ETF | Reduce -32.1% | 1.60% | −0.01 |
| PGX Invesco Preferred ETF | Reduce -20.6% | 0.26% | +0.05 |
| PCY Invesco Emerging Markets Sov | Reduce -16.5% | 0.34% | +0.08 |
| SHYG iShares 0-5 YR HY Corp. Bond | Reduce -26.4% | 1.74% | +0.13 |
| TFI SS SPDR N Ice Muni Bond ETF | Reduce -5.3% | 0.54% | +0.16 |
| PFF iShares Preferred & Income S | Reduce -28.5% | 3.17% | +0.23 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -12.2% | 1.03% | +0.24 |
| MUB iShares National Muni Bond E | Reduce -22.3% | 2.08% | +0.28 |
| IEF iShares 7-10 Year Treasury B | Reduce -24.7% | 3.57% | +0.35 |
| GDX Vaneck Gold Miners ETF | Reduce -33.7% | 1.72% | +0.51 |
| JNK SS SPDR BB High Yield Bond | Reduce -23.8% | 9.33% | +1.01 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -15.2% | 6.82% | +1.41 |
| SJNK SS SPDR BB St Hi Yield ETF | Reduce -7.1% | 5.89% | +1.57 |
Portfolio Buys Q2 2025 → Q3 2025
| GDXJ Vaneck Junior Gold Miners | Add +8.8% | 1.72% | +0.98 |
| SILJ Amplify Junior Silver Miners | New | 0.93% | +0.93 |
| PFE Pfizer Inc. | New | 0.51% | +0.51 |
| MRK Merck & Co. Inc. | New | 0.51% | +0.51 |
| HL Hecla Mining Co. | New | 0.49% | +0.49 |
| HD Home Depot Inc. | New | 0.48% | +0.48 |
| PAAS Pan American Silver Corp. | New | 0.35% | +0.35 |
| PG The Procter & Gamble Co. | Add +107.9% | 0.48% | +0.32 |
| VTI VG Morningstar TS MKT ETF-US | Add +8.9% | 0.66% | +0.28 |
| CSCO Cisco Systems Inc. | New | 0.24% | +0.24 |
| AMZN Amazon.com Inc. | New | 0.24% | +0.24 |
| ORCL Oracle Corp. | New | 0.24% | +0.24 |
| MA Mastercard Inc. Class A | New | 0.24% | +0.24 |
| UNH Unitedhealth Group Inc. | New | 0.24% | +0.24 |
| CMCSA Comcast Corp. Class A | New | 0.24% | +0.24 |
| FSM Fortuna Mining Corp. | New | 0.16% | +0.16 |
| SVM Silvercorp Metals Inc. | New | 0.14% | +0.14 |
| EXK Endeavour Silver Corp. | New | 0.14% | +0.14 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 51 | $136.9M | HYG, JNK, EMB, AGG, VCIT |
| Q1 2026 | 18 | $10.8M | HYG, ORCL, UNH, DIS, MSFT |
| Q4 2025 | 48 | $132.3M | HYG, JNK, SJNK, EMB, AGG |
| Q3 2025 | 53 | $111.7M | HYG, JNK, VCIT, LQD, SJNK |
| Q2 2025 | 48 | $163.3M | HYG, JNK, VCIT, TIP, EMB |
| Q1 2025 | 44 | $92.6M | AGG, TIP, GOVT, VCIT, HYG |
| Q4 2024 | 37 | $30.8M | HYG, JNK, EMB, BKLN, LQD |
| Q3 2024 | 48 | $142.2M | SJNK, JNK, TIP, AGG, HYG |
| Q2 2024 | 36 | $81.4M | WTPI, HYG, JNK, TIP, AGG |
| Q1 2024 | 58 | $115.0M | WTPI, VCSH, JNK, SJNK, EMB |