Innealta Capital, LLC

Name: INNEALTA CAPITAL, LLC 13F holdings, Q4 2024
Creator: INNEALTA CAPITAL, LLC
Published: 2025-02-07

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q3 2024Q2 2024Q1 2024

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 7, 2025), Innealta Capital, LLC reported 126 stock positions worth $204.8 million. Its top holding was SS Financial Select Sector (XLF) at 10.5% of the portfolio, followed by JPMorgan Active Bond ETF (JBND, 9.4%) and JPMorgan Core Plus Bond ETF (JCPB, 6.0%). Compared with Q3 2024, it opened 17 new positions, sold out of 42, added to 31 and reduced 50. The biggest buy was SS Financial Select Sector (XLF, shares +60%) and the biggest sale JPMorgan Core Plus Bond ETF (JCPB, shares −35%).

Most Recent 13F: Q2 2026
Location: AUSTIN, TX
CIK: 0001752579
Portfolio Value: $204.8M (Q4 2024)
SEC Filing: 0001752579-25-000001 ↗ filed Feb 7, 2025

Holdings Value

Holdings 126 stocks · $204.8M


XLF SS Financial Select Sector	10.52%	445,928	$21.6M	Add +59.8%
JBND JPMorgan Active Bond ETF	9.41%	368,766	$19.3M	Add +6.4%
JCPB JPMorgan Core Plus Bond ETF	6.02%	267,820	$12.3M	Reduce -34.9%
XLI SS Industrial Select Sector	5.61%	87,147	$11.5M	Add +69.6%
XLY SS Consumer Disc Select Sect	4.79%	43,684	$9.8M	Add +156.0%
XLK SS Technology Select Sector	3.53%	31,077	$7.2M	New
XLV SS Health Care Select Sector	3.45%	51,419	$7.1M	Reduce -13.6%
FLJP Franklin Ftse Japan ETF	3.07%	219,458	$6.3M	Reduce -33.9%
XLC SS Comm Select Sector SPDR	2.94%	62,158	$6.0M	Reduce -50.7%
XLP SS Consumer Staples Sel Sect	2.82%	73,369	$5.8M	Add +8.0%
FXI iShares China Large-Cap ETF	2.43%	163,571	$5.0M	Add +75.2%
FLGB Franklin Ftse United Kingdom	2.21%	173,076	$4.5M	Reduce -16.3%
LQD Ishr Ibx Usd Invgd CB ETF-Ui	2.01%	38,453	$4.1M	Reduce -31.2%
FLCA Franklin Ftse Canada ETF	1.97%	110,073	$4.0M	Reduce -0.0%
XLU St Sr Utl SL SE SPDR ETF-Usd	1.74%	47,170	$3.6M	No change
XLE SS Energy Select Sector	1.67%	39,833	$3.4M	Add +56.0%
FLIN Franklin Ftse India ETF	1.63%	87,822	$3.3M	Reduce -25.7%
FLTW Franklin Ftse Taiwan ETF	1.57%	68,075	$3.2M	Reduce -0.0%
FLSW Franklin Ftse Switzerland	1.50%	96,410	$3.1M	No change
FLGR Franklin Ftse Germany ETF	1.47%	120,789	$3.0M	No change
VBR Vngrd Mrngst SL-CP Val ETF-U	1.43%	14,798	$2.9M	Reduce -54.4%
VTI VG Morningstar TS MKT ETF-US	1.15%	8,134	$2.4M	Add +53.9%
FLCH Franklin Ftse China ETF	1.10%	122,989	$2.3M	No change
EWQ iShares MSCI France ETF	1.06%	60,517	$2.2M	Reduce -35.2%
VWO Vanguard Ftse Emerging Marke	0.93%	43,057	$1.9M	Add +67.2%
BND Vanguard Total Bond Market	0.92%	26,277	$1.9M	Reduce -47.7%
CSTNL iShares Core S&P 500	0.90%	2,943	$1.8M	Reduce -65.3%
IEFA iShares Core MSCI Eafe ETF	0.86%	24,961	$1.8M	Add +63.6%
XLRE SS Real Estate Select Sector	0.85%	42,705	$1.7M	Reduce -69.9%
XLB SS Materials Select Sector	0.82%	19,953	$1.7M	Add +52.9%
FLAU Franklin Ftse Australia ETF	0.76%	55,200	$1.5M	No change
BBCA JPMorgan Betabuilders Canada	0.73%	21,255	$1.5M	Add +53.0%
PDBC Invesco Optimum Yield Divers	0.65%	102,684	$1.3M	Add +34.9%
VEA Vanguard Ftse Developed ETF	0.64%	27,295	$1.3M	Add +80.7%
SPYV SS SPDR P S&P 500 Value ETF	0.59%	23,444	$1.2M	Add +58.4%
EMB iShares JP Morgan Usd Emergi	0.58%	13,265	$1.2M	Add +68.0%
EWP iShares MSCI Spain ETF	0.57%	37,675	$1.2M	Reduce -13.7%
EWS iShares MSCI Singapore ETF	0.50%	47,055	$1.0M	Add +12.1%
EZA iShares MSCI South Africa Et	0.48%	23,312	$977K	Add +0.1%
EWD iShares MSCI Sweden ETF	0.47%	25,938	$968K	Reduce -43.8%
EWA iShares MSCI Australia ETF	0.46%	39,582	$944K	Reduce -25.3%
EWN iShares MSCI Netherlands ETF	0.42%	19,521	$868K	Reduce -59.0%
EWH iShares MSCI Hong Kong ETF	0.41%	50,558	$842K	New
SPY SS SPDR S&P 500 ETF Trust-US	0.40%	1,410	$826K	Add +6.8%
EWT iShares MSCI Taiwan ETF	0.40%	15,866	$821K	Reduce -64.7%
IAGG iShares Intl Aggregate Bond	0.40%	16,434	$820K	Reduce -8.9%
EWI iShares MSCI Italy ETF	0.39%	22,050	$793K	Reduce -40.5%
AVUV Avantis US Small Cap Value	0.39%	8,216	$793K	Add +69.8%
EDEN iShares MSCI Denmark ETF	0.37%	7,101	$755K	Reduce -64.6%
GLD SPDR Gold Shares	0.36%	3,074	$744K	New
IJH iShares Core S&P Midcap ETF	0.35%	11,388	$710K	Add +69.0%
FLKR Franklin Ftse South Korea	0.33%	38,240	$666K	Reduce -41.3%
DB Deutsche Bank AG-Registered	0.32%	38,284	$653K	No change
FLOT iShares Floating Rate Bond E	0.31%	12,490	$635K	Add +83.2%
ISAPF iShares Core Em Imi Acc	0.29%	17,319	$591K	Reduce -76.8%
VNGLF Vang Ftse Eur Eura	0.28%	12,346	$574K	Reduce -72.1%
FLBR Franklin Ftse Brazil ETF	0.27%	38,817	$549K	Reduce -10.0%
ISHVF iShares US Agg BND Usd Acc	0.26%	99,545	$534K	Reduce -74.1%
KSA Ishrs MSCI Saudi Arabia ETF	0.23%	11,769	$481K	Add +70.3%
ISVAF iShares Nasdaq 100 Usd Acc	0.22%	377	$455K	Reduce -15.7%
IGSB iShares 1-5Y Inv Grade Corp.	0.19%	7,457	$386K	Reduce -16.4%
IVV iShares Core S&P 500 ETF	0.19%	648	$381K	No change
JXN Jackson Financial Inc. Class A	0.18%	4,194	$365K	No change
EWY iShares MSCI South Korea ETF	0.18%	7,171	$365K	Reduce -36.1%
RWO State Street SPDR Dow Jones	0.18%	8,498	$364K	New
PARAA Paramount Global Class B	0.18%	34,553	$361K	Add +22.1%
DINO HF Sinclair Corp.	0.17%	10,133	$355K	New
AD Array Digital Infrastructure filed as UNITED STATES CELLULAR CORP	0.16%	5,329	$334K	No change
BFH Bread Financial Holdings Inc.	0.16%	5,386	$329K	Add +15.5%
TMHC Taylor Morrison Home Corp.	0.16%	5,324	$326K	Add +37.0%
TREASURY BILL (B 0 01/30/25)	0.16%	320,000	$319K	New
RDN Radian Group Inc.	0.15%	9,902	$314K	Add +67.9%
ALK Alaska Air Group Inc.	0.15%	4,841	$313K	New
CIVI Civitas Resources Inc.	0.14%	6,459	$296K	Add +49.4%
QQQ Invesco QQQ Trust Series 1	0.14%	562	$287K	New
ISCMF Ish Divers Commod Swap ETF	0.14%	40,447	$278K	Reduce -79.3%
GPI Group 1 Automotive Inc.	0.13%	633	$267K	No change
ISHYF iShares Usd HY Corp. Usd Acc	0.13%	38,879	$262K	Reduce -63.2%
LAD Lithia Motors Inc.	0.13%	731	$261K	Reduce -28.6%
GNW Genworth Financial Inc.	0.13%	37,118	$259K	Reduce -22.2%
MTG Mgic Investment Corp.	0.13%	10,917	$259K	New
MTH Meritage Homes Corp.	0.13%	1,666	$256K	No change
CHRD Chord Energy Corp.	0.12%	2,106	$246K	New
R Ryder System Inc.	0.12%	1,567	$246K	No change
ELAN Elanco Animal Health Inc.	0.12%	20,025	$243K	Add +0.2%
MHK Mohawk Industries Inc.	0.12%	2,019	$241K	New
BWA Borgwarner Inc.	0.12%	7,461	$237K	No change
KBH KB Home	0.12%	3,588	$236K	No change
ISVUF iShares Edge MSCI USA Value	0.11%	23,743	$233K	Reduce -72.7%
BHF Brighthouse Financial Inc.	0.11%	4,804	$231K	Reduce -0.1%
AL Sumisho Air Lease Corp. filed as AIR LEASE CORP	0.11%	4,762	$230K	Reduce -25.6%
MUR Murphy Oil Corp.	0.11%	7,576	$229K	Add +18.4%
DFAC Dimensional US Core Equity 2	0.11%	6,452	$223K	No change
ADT Adt Inc.	0.11%	32,138	$222K	Reduce -11.7%
DNB Dun & Bradstreet Holdings Inc.	0.11%	17,577	$219K	No change
PB Prosperity Bancshares Inc.	0.11%	2,904	$219K	Reduce -16.7%
TREASURY BILL (B 0 03/20/25)	0.11%	218,000	$216K	New
JBLU Jetblue Airways Corp.	0.10%	27,288	$214K	Reduce -29.5%
POST Post Holdings Inc. filed as POST HLDGS INC	0.10%	1,859	$213K	No change
TDS Telephone and Data Systems	0.10%	6,121	$209K	Reduce -45.9%
CZR Caesars Entertainment Inc.	0.10%	6,163	$206K	Add +11.0%
OSK Oshkosh Corp.	0.10%	2,143	$204K	Reduce -0.1%
ISJPF iShares JPM Usd Em BND Usd A	0.10%	35,339	$202K	Reduce -83.2%
ABG Asbury Automotive Group	0.10%	829	$201K	New
NOV Nov Inc.	0.09%	12,724	$186K	Reduce -17.6%
BLKXF Ishare MSCI USA SCR Ucits-Ua	0.09%	14,801	$179K	No change
NWL Newell Brands Inc.	0.08%	16,394	$163K	No change
FNB FNB Corp.	0.07%	10,194	$151K	No change
CRGY Crescent Energy Inc. Class A	0.07%	10,110	$148K	New
ISCXF iShares Usd Corp. Bond Usd A	0.07%	24,984	$146K	Reduce -53.8%
GT Goodyear Tire & Rubber Co.	0.07%	14,920	$134K	No change
TREASURY BILL (B 0 02/06/25)	0.05%	102,000	$102K	No change
CALY Callaway Golf Company filed as TOPGOLF CALLAWAY BRANDS CORP	0.05%	12,322	$97K	Reduce -34.0%
UAA Under Armour Inc. Class A	0.04%	11,056	$92K	New
ISJMF iShares JPM Usd Em CRP Usd A	0.04%	14,162	$87K	Reduce -73.8%
ALIT Alight Inc. Class A	0.04%	12,427	$86K	Reduce -12.2%
ISGAF iShares Core GLB Agg Usd-H A	0.04%	14,381	$80K	Reduce -94.8%
TREASURY BILL (B 0 03/06/25)	0.03%	71,000	$70K	New
ADV Advantage Solutions Inc.	0.03%	21,660	$63K	No change
ACCO Acco Brands Corp.	0.03%	11,209	$59K	No change
HL Hecla Mining Co.	0.03%	11,569	$57K	New
HOUS Anywhere Real Estate Inc.	0.03%	16,257	$54K	No change
CNDT Conduent Inc.	0.02%	11,732	$47K	No change
GTN Gray Media Inc. filed as GRAY TELEVISION INC	0.02%	11,366	$36K	No change
ALLIED GAMING & ENTRTNMNT IN	0.02%	42,023	$33K	Reduce -28.5%
FLRU Franklin Ftse Russia ETF	0.00%	69,765	$698	No change

Other holdings (3): bonds, preferreds, convertibles and warrants · $739K (not counted above)

Security	Class	Shares / Principal	Value	Change
STRIPS (S 0 08/15/34)	US GOVERNMENT	597,000	$378K	No change
STRIPS (S 0 08/15/29)	US GOVERNMENT	239,000	$194K	No change
US TREASURY N/B (T 1.125 01/15/25)	FIX	167,000	$167K	No change

Total filed on the 13F, all lines: $205.5M.

Portfolio Sells Q3 2024 → Q4 2024


JCPB JPMorgan Core Plus Bond ETF	Reduce -34.9%	6.02%	−2.08
XLRE SS Real Estate Select Sector	Reduce -69.9%	0.85%	−1.74
XLC SS Comm Select Sector SPDR	Reduce -50.7%	2.94%	−1.71
SPTL SS SPDR PF LNG TRM TSY E-Usd	Sold out	0.00%	−1.65
JAAA Janus Henderson Aaa Clo ETF	Sold out	0.00%	−1.23
VBR Vngrd Mrngst SL-CP Val ETF-U	Reduce -54.4%	1.43%	−1.23
CSTNL iShares Core S&P 500	Reduce -65.3%	0.90%	−1.20
FLJP Franklin Ftse Japan ETF	Reduce -33.9%	3.07%	−1.06
EWU iShares MSCI United Kingdom	Sold out	0.00%	−0.96
ISAPF iShares Core Em Imi Acc	Reduce -76.8%	0.29%	−0.84
EDEN iShares MSCI Denmark ETF	Reduce -64.6%	0.37%	−0.67
VNGLF Vang Ftse Eur Eura	Reduce -72.1%	0.28%	−0.65
BND Vanguard Total Bond Market	Reduce -47.7%	0.92%	−0.62
ISHVF iShares US Agg BND Usd Acc	Reduce -74.1%	0.26%	−0.61
ISGAF iShares Core GLB Agg Usd-H A	Reduce -94.8%	0.04%	−0.60
EWT iShares MSCI Taiwan ETF	Reduce -64.7%	0.40%	−0.59
LQD Ishr Ibx Usd Invgd CB ETF-Ui	Reduce -31.2%	2.01%	−0.57
EWN iShares MSCI Netherlands ETF	Reduce -59.0%	0.42%	−0.56
EWQ iShares MSCI France ETF	Reduce -35.2%	1.06%	−0.48
ISCMF Ish Divers Commod Swap ETF	Reduce -79.3%	0.14%	−0.42
ISJPF iShares JPM Usd Em BND Usd A	Reduce -83.2%	0.10%	−0.40
FLIN Franklin Ftse India ETF	Reduce -25.7%	1.63%	−0.40
IHREF iShares Core MSCI Japan	Sold out	0.00%	−0.37
EWD iShares MSCI Sweden ETF	Reduce -43.8%	0.47%	−0.35
EWL iShares MSCI Switzerland ETF	Sold out	0.00%	−0.32
INDA iShares MSCI India ETF	Sold out	0.00%	−0.32
ISHUF iShares US Treas 0-1YR Usd A	Sold out	0.00%	−0.30
XLV SS Health Care Select Sector	Reduce -13.6%	3.45%	−0.29
ZPRVF SS SPD MSCI US SCVW Uc ETF-U	Sold out	0.00%	−0.24
ISVUF iShares Edge MSCI USA Value	Reduce -72.7%	0.11%	−0.24
FLKR Franklin Ftse South Korea	Reduce -41.3%	0.33%	−0.24
ISVQF iShares Usd Short Dur Usd A	Sold out	0.00%	−0.21
EWI iShares MSCI Italy ETF	Reduce -40.5%	0.39%	−0.20
KBE SS SPDR S&P Bank ETF	Sold out	0.00%	−0.20
FLGB Franklin Ftse United Kingdom	Reduce -16.3%	2.21%	−0.20
EWG iShares MSCI Germany ETF	Sold out	0.00%	−0.17
ISMJF iShares Core MSCI Pacif X-JP	Sold out	0.00%	−0.17
ISHYF iShares Usd HY Corp. Usd Acc	Reduce -63.2%	0.13%	−0.16
IVSRF Ish Usd Float Bond Usd Acc	Sold out	0.00%	−0.16
TREASURY BILL (B 0 12/05/24)	Sold out	0.00%	−0.16
SSEUF SS SPDR Russell 2000 US Smal	Sold out	0.00%	−0.16
TREASURY BILL (B 0 10/31/24)	Sold out	0.00%	−0.13
EWA iShares MSCI Australia ETF	Reduce -25.3%	0.46%	−0.12
IEI iShares 3-7 Year Treasury Bo	Sold out	0.00%	−0.12
ISZXF iShares Usd Treasury 3-7YR	Sold out	0.00%	−0.12
ISVIF iShares Usd Tres Bond 7-10Y	Sold out	0.00%	−0.12
EWY iShares MSCI South Korea ETF	Reduce -36.1%	0.18%	−0.11
MOS The Mosaic Co.	Sold out	0.00%	−0.11
WCC Wesco International Inc.	Sold out	0.00%	−0.11
MDU Mdu Resources Group Inc.	Sold out	0.00%	−0.10

Portfolio Buys Q3 2024 → Q4 2024


XLF SS Financial Select Sector	Add +59.8%	10.52%	+5.36
XLK SS Technology Select Sector	New	3.53%	+3.53
XLY SS Consumer Disc Select Sect	Add +156.0%	4.79%	+3.39
XLI SS Industrial Select Sector	Add +69.6%	5.61%	+2.77
JBND JPMorgan Active Bond ETF	Add +6.4%	9.41%	+1.68
FXI iShares China Large-Cap ETF	Add +75.2%	2.43%	+1.22
XLE SS Energy Select Sector	Add +56.0%	1.67%	+0.75
VTI VG Morningstar TS MKT ETF-US	Add +53.9%	1.15%	+0.54
XLP SS Consumer Staples Sel Sect	Add +8.0%	2.82%	+0.52
VWO Vanguard Ftse Emerging Marke	Add +67.2%	0.93%	+0.42
EWH iShares MSCI Hong Kong ETF	New	0.41%	+0.41
IEFA iShares Core MSCI Eafe ETF	Add +63.6%	0.86%	+0.37
GLD SPDR Gold Shares	New	0.36%	+0.36
BBCA JPMorgan Betabuilders Canada	Add +53.0%	0.73%	+0.32
VEA Vanguard Ftse Developed ETF	Add +80.7%	0.64%	+0.31
XLB SS Materials Select Sector	Add +52.9%	0.82%	+0.31
EMB iShares JP Morgan Usd Emergi	Add +68.0%	0.58%	+0.28
SPYV SS SPDR P S&P 500 Value ETF	Add +58.4%	0.59%	+0.27
PDBC Invesco Optimum Yield Divers	Add +34.9%	0.65%	+0.23
AVUV Avantis US Small Cap Value	Add +69.8%	0.39%	+0.20
RWO State Street SPDR Dow Jones	New	0.18%	+0.18
IJH iShares Core S&P Midcap ETF	Add +69.0%	0.35%	+0.18
DINO HF Sinclair Corp.	New	0.17%	+0.17
FLOT iShares Floating Rate Bond E	Add +83.2%	0.31%	+0.17
TREASURY BILL (B 0 01/30/25)	New	0.16%	+0.16
ALK Alaska Air Group Inc.	New	0.15%	+0.15
QQQ Invesco QQQ Trust Series 1	New	0.14%	+0.14
MTG Mgic Investment Corp.	New	0.13%	+0.13
EWS iShares MSCI Singapore ETF	Add +12.1%	0.50%	+0.12
CHRD Chord Energy Corp.	New	0.12%	+0.12
MHK Mohawk Industries Inc.	New	0.12%	+0.12
KSA Ishrs MSCI Saudi Arabia ETF	Add +70.3%	0.23%	+0.11
TREASURY BILL (B 0 03/20/25)	New	0.11%	+0.11
ABG Asbury Automotive Group	New	0.10%	+0.10
SPY SS SPDR S&P 500 ETF Trust-US	Add +6.8%	0.40%	+0.09
CRGY Crescent Energy Inc. Class A	New	0.07%	+0.07
BFH Bread Financial Holdings Inc.	Add +15.5%	0.16%	+0.07
RDN Radian Group Inc.	Add +67.9%	0.15%	+0.07
CIVI Civitas Resources Inc.	Add +49.4%	0.14%	+0.06
PARAA Paramount Global Class B	Add +22.1%	0.18%	+0.05
TMHC Taylor Morrison Home Corp.	Add +37.0%	0.16%	+0.05
UAA Under Armour Inc. Class A	New	0.04%	+0.04
TREASURY BILL (B 0 03/06/25)	New	0.03%	+0.03
HL Hecla Mining Co.	New	0.03%	+0.03
MUR Murphy Oil Corp.	Add +18.4%	0.11%	+0.02
CZR Caesars Entertainment Inc.	Add +11.0%	0.10%	+0.01
ELAN Elanco Animal Health Inc.	Add +0.2%	0.12%	−0.00
EZA iShares MSCI South Africa Et	Add +0.1%	0.48%	−0.00

Notes & Other Activity Q3 2024 → Q4 2024


US TREASURY N/B (T 2.875 05/31/25)	FIX	Sold out	510,000	$505Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	91	$187.4M	XLC, XLK, XLI, BIL, XLF
Q1 2026	75	$161.0M	XLC, XLK, XLI, XLE, XLF
Q4 2025	85	$184.7M	XLK, XLC, XLF, XLI, XLV
Q3 2025	107	$200.1M	XLK, XLC, XLF, XLI, XLY
Q2 2025	104	$189.6M	XLK, XLF, XLC, XLV, XLY
Q1 2025	112	$182.9M	JBND, XLF, XLK, FLJP, XLE
Q4 2024	126	$204.8M	XLF, JBND, JCPB, XLI, XLY
Q3 2024	151	$245.1M	JCPB, JBND, XLF, XLC, FLJP
Q2 2024	1,833	$301.2M	XLK, JCPB, VGIT, XLF, FLJP
Q1 2024	108	$236.7M	XLK, XLF, SPTL, XLY, FLJP