Crabel Capital Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Crabel Capital Management, LLC reported 48 stock positions worth $132.3 million. Its top holding was Ishr Ibx Usd Hiyld CB ETF-Ui (HYG) at 10.9% of the portfolio, followed by SS SPDR BB High Yield Bond (JNK, 8.7%) and SS SPDR BB St Hi Yield ETF (SJNK, 7.0%). Compared with Q3 2025, it opened 9 new positions, sold out of 14, added to 23 and reduced 16. The biggest buy was iShares JP Morgan Usd Emergi (EMB, shares +116%) and the biggest sale iShares Tips Bond ETF (TIP, shares −54%).
- Most Recent 13F
- Q2 2026
- Location
- MILWAUKEE, WI
- CIK
- 0001536557
- Portfolio Value
- $132.3M (Q4 2025)
- SEC Filing
- 0001104659-26-015970 ↗ filed Feb 17, 2026
Holdings Value
Holdings 48 stocks · $132.3M
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 10.92% | 179,163 | $14.4M | Add +29.9% |
| JNK SS SPDR BB High Yield Bond | 8.70% | 118,383 | $11.5M | Add +11.3% |
| SJNK SS SPDR BB St Hi Yield ETF | 6.97% | 364,230 | $9.2M | Add +41.7% |
| EMB iShares JP Morgan Usd Emergi | 6.15% | 84,486 | $8.1M | Add +116.3% |
| AGG iShares Core U.S. Aggregate | 5.68% | 75,181 | $7.5M | Add +47.7% |
| VCIT Vanguard Int-Term Corporate | 4.81% | 75,896 | $6.4M | Reduce -16.7% |
| IEI iShares 3-7 Year Treasury Bo | 4.55% | 50,420 | $6.0M | Add +161.8% |
| MUB iShares National Muni Bond E | 4.05% | 49,992 | $5.4M | Add +129.2% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 4.02% | 48,226 | $5.3M | Reduce -29.5% |
| BND Vanguard Total Bond Market | 3.84% | 68,642 | $5.1M | Add +28.3% |
| GOVT iShares US Treasury Bond ETF | 3.67% | 211,039 | $4.9M | Add +21.1% |
| MBB iShares MBS ETF | 3.30% | 45,867 | $4.4M | Add +209.2% |
| EMLC Vaneck JPM Em Local Curr BND | 2.58% | 132,377 | $3.4M | Add +33.8% |
| IEF iShares 7-10 Year Treasury B | 2.57% | 35,329 | $3.4M | Reduce -14.5% |
| BKLN Invesco Senior Loan ETF | 2.42% | 152,730 | $3.2M | Reduce -3.7% |
| SHYG iShares 0-5 YR HY Corp. Bond | 2.25% | 69,410 | $3.0M | Add +54.4% |
| BNDX Vanguard Total Intl Bond ETF | 1.99% | 54,373 | $2.6M | Add +50.8% |
| TIP iShares Tips Bond ETF | 1.94% | 23,340 | $2.6M | Reduce -54.4% |
| HYD Vaneck High Yield Muni ETF | 1.77% | 45,685 | $2.3M | Add +504.1% |
| VTEB Vanguard Tax-Exempt Bond ETF | 1.74% | 45,833 | $2.3M | Add +100.1% |
| TFI SS SPDR N Ice Muni Bond ETF | 1.47% | 42,551 | $1.9M | Add +223.5% |
| VTIP Vanguard Short-Term Tips | 1.33% | 35,699 | $1.8M | Add +141.3% |
| PFF iShares Preferred & Income S | 1.20% | 51,402 | $1.6M | Reduce -54.1% |
| VMBS Vanguard Mortgage-Backed Sec | 1.18% | 33,097 | $1.6M | Add +69.3% |
| TLT iShares 20+ Year Treasury BD | 1.14% | 17,373 | $1.5M | Reduce -2.9% |
| VCSH Vanguard S/T Corp. Bond ETF | 1.01% | 16,693 | $1.3M | Add +65.7% |
| SCHZ Schwab US Aggregate Bond ETF | 0.80% | 45,108 | $1.1M | Add +58.1% |
| SPAB SS SPDR P Agg Bond ETF | 0.77% | 39,753 | $1.0M | Add +11.7% |
| GDX Vaneck Gold Miners ETF | 0.75% | 11,627 | $997K | Reduce -53.6% |
| GDXJ Vaneck Junior Gold Miners | 0.63% | 7,303 | $831K | Reduce -62.3% |
| FLOT iShares Floating Rate Bond E | 0.61% | 15,873 | $807K | Reduce -20.4% |
| EEM iShares MSCI Emerging Market | 0.60% | 14,549 | $796K | New |
| BSV Vanguard Short-Term Bond ETF | 0.56% | 9,467 | $746K | Add +156.8% |
| PFE Pfizer Inc. | 0.40% | 21,346 | $532K | Reduce -4.6% |
| HD Home Depot Inc. | 0.40% | 1,542 | $531K | Add +17.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.37% | 715 | $488K | New |
| FLRN SS SPDR BB Ig Float RT ETF | 0.34% | 14,517 | $446K | Reduce -9.7% |
| MINT PIMCO Enhanced Short Maturit | 0.32% | 4,265 | $428K | New |
| PCY Invesco Emerging Markets Sov | 0.27% | 16,680 | $361K | Reduce -5.0% |
| SHY iShares 1-3 Year Treasury Bo | 0.27% | 4,270 | $354K | New |
| SHV iShares 0-1 Year Treasury Bo | 0.24% | 2,923 | $322K | New |
| INTC Intel Corp. | 0.21% | 7,436 | $274K | New |
| PEP Pepsico Inc. | 0.20% | 1,858 | $267K | New |
| PG The Procter & Gamble Co. | 0.20% | 1,858 | $266K | Reduce -46.9% |
| JNJ Johnson & Johnson | 0.20% | 1,286 | $266K | New |
| CSCO Cisco Systems Inc. | 0.20% | 3,441 | $265K | Reduce -13.4% |
| VGSH Vanguard Short-Term Treasury | 0.19% | 4,277 | $251K | New |
| PGX Invesco Preferred ETF | 0.19% | 22,196 | $249K | Reduce -11.8% |
Portfolio Sells Q3 2025 → Q4 2025
| TIP iShares Tips Bond ETF | Reduce -54.4% | 1.94% | −3.15 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -29.5% | 4.02% | −2.81 |
| VCIT Vanguard Int-Term Corporate | Reduce -16.7% | 4.81% | −2.06 |
| PFF iShares Preferred & Income S | Reduce -54.1% | 1.20% | −1.97 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Sold out | 0.00% | −1.28 |
| GDXJ Vaneck Junior Gold Miners | Reduce -62.3% | 0.63% | −1.09 |
| IEF iShares 7-10 Year Treasury B | Reduce -14.5% | 2.57% | −1.00 |
| GDX Vaneck Gold Miners ETF | Reduce -53.6% | 0.75% | −0.96 |
| SILJ Amplify Junior Silver Miners | Sold out | 0.00% | −0.93 |
| VTI VG Morningstar TS MKT ETF-US | Sold out | 0.00% | −0.66 |
| BKLN Invesco Senior Loan ETF | Reduce -3.7% | 2.42% | −0.55 |
| MRK Merck & Co. Inc. | Sold out | 0.00% | −0.51 |
| HL Hecla Mining Co. | Sold out | 0.00% | −0.49 |
| PAAS Pan American Silver Corp. | Sold out | 0.00% | −0.35 |
| FLOT iShares Floating Rate Bond E | Reduce -20.4% | 0.61% | −0.30 |
| TLT iShares 20+ Year Treasury BD | Reduce -2.9% | 1.14% | −0.29 |
| PG The Procter & Gamble Co. | Reduce -46.9% | 0.20% | −0.28 |
| AMZN Amazon.com Inc. | Sold out | 0.00% | −0.24 |
| ORCL Oracle Corp. | Sold out | 0.00% | −0.24 |
| MA Mastercard Inc. Class A | Sold out | 0.00% | −0.24 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −0.24 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.24 |
| FSM Fortuna Mining Corp. | Sold out | 0.00% | −0.16 |
| SVM Silvercorp Metals Inc. | Sold out | 0.00% | −0.14 |
| EXK Endeavour Silver Corp. | Sold out | 0.00% | −0.14 |
| PFE Pfizer Inc. | Reduce -4.6% | 0.40% | −0.11 |
| FLRN SS SPDR BB Ig Float RT ETF | Reduce -9.7% | 0.34% | −0.11 |
| PGX Invesco Preferred ETF | Reduce -11.8% | 0.19% | −0.07 |
| PCY Invesco Emerging Markets Sov | Reduce -5.0% | 0.27% | −0.07 |
| CSCO Cisco Systems Inc. | Reduce -13.4% | 0.20% | −0.04 |
Portfolio Buys Q3 2025 → Q4 2025
| EMB iShares JP Morgan Usd Emergi | Add +116.3% | 6.15% | +2.82 |
| IEI iShares 3-7 Year Treasury Bo | Add +161.8% | 4.55% | +2.49 |
| MBB iShares MBS ETF | Add +209.2% | 3.30% | +2.04 |
| MUB iShares National Muni Bond E | Add +129.2% | 4.05% | +1.97 |
| HYD Vaneck High Yield Muni ETF | Add +504.1% | 1.77% | +1.42 |
| AGG iShares Core U.S. Aggregate | Add +47.7% | 5.68% | +1.11 |
| SJNK SS SPDR BB St Hi Yield ETF | Add +41.7% | 6.97% | +1.08 |
| TFI SS SPDR N Ice Muni Bond ETF | Add +223.5% | 1.47% | +0.93 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Add +29.9% | 10.92% | +0.90 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +100.1% | 1.74% | +0.72 |
| VTIP Vanguard Short-Term Tips | Add +141.3% | 1.33% | +0.66 |
| EEM iShares MSCI Emerging Market | New | 0.60% | +0.60 |
| SHYG iShares 0-5 YR HY Corp. Bond | Add +54.4% | 2.25% | +0.51 |
| BNDX Vanguard Total Intl Bond ETF | Add +50.8% | 1.99% | +0.39 |
| SPY SS SPDR S&P 500 ETF Trust-US | New | 0.37% | +0.37 |
| VMBS Vanguard Mortgage-Backed Sec | Add +69.3% | 1.18% | +0.36 |
| EMLC Vaneck JPM Em Local Curr BND | Add +33.8% | 2.58% | +0.32 |
| MINT PIMCO Enhanced Short Maturit | New | 0.32% | +0.32 |
| BSV Vanguard Short-Term Bond ETF | Add +156.8% | 0.56% | +0.30 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +65.7% | 1.01% | +0.29 |
| BND Vanguard Total Bond Market | Add +28.3% | 3.84% | +0.28 |
| SHY iShares 1-3 Year Treasury Bo | New | 0.27% | +0.27 |
| SHV iShares 0-1 Year Treasury Bo | New | 0.24% | +0.24 |
| INTC Intel Corp. | New | 0.21% | +0.21 |
| PEP Pepsico Inc. | New | 0.20% | +0.20 |
| JNJ Johnson & Johnson | New | 0.20% | +0.20 |
| SCHZ Schwab US Aggregate Bond ETF | Add +58.1% | 0.80% | +0.20 |
| VGSH Vanguard Short-Term Treasury | New | 0.19% | +0.19 |
| GOVT iShares US Treasury Bond ETF | Add +21.1% | 3.67% | +0.07 |
| SPAB SS SPDR P Agg Bond ETF | Add +11.7% | 0.77% | −0.05 |
| HD Home Depot Inc. | Add +17.5% | 0.40% | −0.07 |
| JNK SS SPDR BB High Yield Bond | Add +11.3% | 8.70% | −0.63 |
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 |