Innealta Capital, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 22, 2025), Innealta Capital, LLC reported 112 stock positions worth $182.9 million. Its top holding was JPMorgan Active Bond ETF (JBND) at 10.7% of the portfolio, followed by SS Financial Select Sector (XLF, 8.2%) and SS Technology Select Sector (XLK, 5.0%). Compared with Q4 2024, it opened 12 new positions, sold out of 26, added to 14 and reduced 60. The biggest buy was SS Energy Select Sector (XLE, shares +102%) and the biggest sale SS Industrial Select Sector (XLI, shares −54%).
- Most Recent 13F
- Q2 2026
- Location
- AUSTIN, TX
- CIK
- 0001752579
- Portfolio Value
- $182.9M (Q1 2025)
- SEC Filing
- 0001752579-25-000003 ↗ filed Apr 22, 2025
Holdings Value
Holdings 112 stocks · $182.9M
| JBND JPMorgan Active Bond ETF | 10.74% | 366,917 | $19.6M | Reduce -0.5% |
| XLF SS Financial Select Sector | 8.18% | 300,417 | $15.0M | Reduce -32.6% |
| XLK SS Technology Select Sector | 5.00% | 44,266 | $9.1M | Add +42.4% |
| FLJP Franklin Ftse Japan ETF | 4.28% | 266,488 | $7.8M | Add +21.4% |
| XLE SS Energy Select Sector | 4.10% | 80,273 | $7.5M | Add +101.5% |
| XLV SS Health Care Select Sector | 4.04% | 50,590 | $7.4M | Reduce -1.6% |
| XLY SS Consumer Disc Select Sect | 3.98% | 36,835 | $7.3M | Reduce -15.7% |
| JCPB JPMorgan Core Plus Bond ETF | 3.91% | 152,150 | $7.2M | Reduce -43.2% |
| XLP SS Consumer Staples Sel Sect | 3.47% | 77,692 | $6.3M | Add +5.9% |
| XLC SS Comm Select Sector SPDR | 3.13% | 59,322 | $5.7M | Reduce -4.6% |
| XLI SS Industrial Select Sector | 2.85% | 39,753 | $5.2M | Reduce -54.4% |
| FLGB Franklin Ftse United Kingdom | 2.55% | 162,861 | $4.7M | Reduce -5.9% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 2.33% | 54,117 | $4.3M | Add +14.7% |
| FLCA Franklin Ftse Canada ETF | 2.24% | 109,886 | $4.1M | Reduce -0.2% |
| FXI iShares China Large-Cap ETF | 2.03% | 103,687 | $3.7M | Reduce -36.6% |
| FLGR Franklin Ftse Germany ETF | 1.93% | 120,789 | $3.5M | No change |
| EWQ iShares MSCI France ETF | 1.75% | 80,277 | $3.2M | Add +32.6% |
| VGT Vanguard Info Tech ETF | 1.61% | 5,429 | $2.9M | New |
| FLTW Franklin Ftse Taiwan ETF | 1.50% | 63,354 | $2.7M | Reduce -6.9% |
| FLCH Franklin Ftse China ETF | 1.44% | 122,989 | $2.6M | No change |
| FLIN Franklin Ftse India ETF | 1.30% | 64,469 | $2.4M | Reduce -26.6% |
| FLSW Franklin Ftse Switzerland | 1.28% | 65,349 | $2.3M | Reduce -32.2% |
| EWG iShares MSCI Germany ETF | 1.23% | 60,516 | $2.2M | New |
| VTI VG Morningstar TS MKT ETF-US | 1.10% | 7,324 | $2.0M | Reduce -10.0% |
| SPYV SS SPDR P S&P 500 Value ETF | 1.03% | 36,741 | $1.9M | Add +56.7% |
| VWO Vanguard Ftse Emerging Marke | 0.98% | 39,719 | $1.8M | Reduce -7.8% |
| BND Vanguard Total Bond Market | 0.95% | 23,753 | $1.7M | Reduce -9.6% |
| XLB SS Materials Select Sector | 0.87% | 18,450 | $1.6M | Reduce -7.5% |
| FLAU Franklin Ftse Australia ETF | 0.83% | 55,200 | $1.5M | No change |
| EWP iShares MSCI Spain ETF | 0.73% | 35,053 | $1.3M | Reduce -7.0% |
| EWI iShares MSCI Italy ETF | 0.72% | 30,947 | $1.3M | Add +40.4% |
| PDBC Invesco Optimum Yield Divers | 0.71% | 95,930 | $1.3M | Reduce -6.6% |
| VEA Vanguard Ftse Developed ETF | 0.70% | 25,293 | $1.3M | Reduce -7.3% |
| EWN iShares MSCI Netherlands ETF | 0.68% | 26,661 | $1.2M | Add +36.6% |
| EWD iShares MSCI Sweden ETF | 0.68% | 29,341 | $1.2M | Add +13.1% |
| EWL iShares MSCI Switzerland ETF | 0.63% | 22,284 | $1.2M | New |
| EMB iShares JP Morgan Usd Emergi | 0.60% | 12,144 | $1.1M | Reduce -8.4% |
| XLRE SS Real Estate Select Sector | 0.58% | 25,465 | $1.1M | Reduce -40.4% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.57% | 11,433 | $1.0M | New |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.53% | 8,998 | $978K | Reduce -76.6% |
| BBCA JPMorgan Betabuilders Canada | 0.53% | 13,552 | $970K | Reduce -36.2% |
| EWS iShares MSCI Singapore ETF | 0.46% | 35,571 | $845K | Reduce -24.4% |
| GLD SPDR Gold Shares | 0.46% | 2,901 | $836K | Reduce -5.6% |
| EWA iShares MSCI Australia ETF | 0.46% | 35,604 | $835K | Reduce -10.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.39% | 1,279 | $715K | Reduce -9.3% |
| IAGG iShares Intl Aggregate Bond | 0.39% | 14,171 | $708K | Reduce -13.8% |
| KSA Ishrs MSCI Saudi Arabia ETF | 0.35% | 15,262 | $631K | Add +29.7% |
| EWH iShares MSCI Hong Kong ETF | 0.34% | 36,010 | $631K | Reduce -28.8% |
| FLKR Franklin Ftse South Korea | 0.34% | 34,048 | $624K | Reduce -11.0% |
| IJH iShares Core S&P Midcap ETF | 0.33% | 10,250 | $598K | Reduce -10.0% |
| FLOT iShares Floating Rate Bond E | 0.32% | 11,377 | $581K | Reduce -8.9% |
| EWY iShares MSCI South Korea ETF | 0.29% | 9,801 | $530K | Add +36.7% |
| CSTNL iShares Core S&P 500 filed as BLACKROCK, INC. | 0.28% | 859 | $509K | Reduce -70.8% |
| FLBR Franklin Ftse Brazil ETF | 0.27% | 30,286 | $500K | Reduce -22.0% |
| EZA iShares MSCI South Africa Et | 0.27% | 10,072 | $485K | Reduce -56.8% |
| EDEN iShares MSCI Denmark ETF | 0.26% | 4,613 | $479K | Reduce -35.0% |
| ISVAF iShares Nasdaq 100 Usd Acc | 0.22% | 377 | $411K | No change |
| PARAA Paramount Global Class B | 0.20% | 31,067 | $372K | Reduce -10.1% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.20% | 6,823 | $357K | Reduce -8.5% |
| RWO State Street SPDR Dow Jones | 0.19% | 7,847 | $342K | Reduce -7.7% |
| VNGLF Vang Ftse Eur Eura | 0.17% | 6,062 | $311K | Reduce -50.9% |
| LNC Lincoln National Corp. | 0.17% | 8,631 | $310K | New |
| ISCMF Ish Divers Commod Swap ETF | 0.17% | 40,447 | $304K | No change |
| TREASURY BILL (B 0 06/20/25) filed as US TREASURY | 0.16% | 304,000 | $301K | New |
| DINO HF Sinclair Corp. | 0.16% | 9,087 | $299K | Reduce -10.3% |
| SIRI Sirius XM Holdings Inc. | 0.16% | 13,212 | $298K | New |
| RDN Radian Group Inc. | 0.16% | 8,918 | $295K | Reduce -9.9% |
| TMHC Taylor Morrison Home Corp. | 0.16% | 4,794 | $288K | Reduce -9.9% |
| MTG Mgic Investment Corp. | 0.15% | 10,893 | $270K | Reduce -0.2% |
| GNW Genworth Financial Inc. | 0.14% | 37,118 | $263K | No change |
| ADT Adt Inc. | 0.14% | 32,138 | $262K | No change |
| BHF Brighthouse Financial Inc. | 0.14% | 4,326 | $251K | Reduce -9.9% |
| MOS The Mosaic Co. | 0.14% | 9,157 | $247K | New |
| BFH Bread Financial Holdings Inc. | 0.13% | 4,850 | $243K | Reduce -9.9% |
| ECHO Echostar Corp. Class A | 0.13% | 9,384 | $240K | New |
| TDS Telephone and Data Systems | 0.13% | 6,121 | $237K | No change |
| MTH Meritage Homes Corp. | 0.13% | 3,332 | $236K | No change |
| CHRD Chord Energy Corp. | 0.13% | 2,079 | $234K | Reduce -1.3% |
| AL Sumisho Air Lease Corp. filed as AIR LEASE CORP | 0.13% | 4,762 | $230K | No change |
| MHK Mohawk Industries Inc. | 0.12% | 1,989 | $227K | Reduce -1.5% |
| CIVI Civitas Resources Inc. | 0.12% | 6,459 | $225K | No change |
| R Ryder System Inc. | 0.12% | 1,567 | $225K | No change |
| AA Alcoa Corp. | 0.12% | 7,249 | $221K | New |
| GPI Group 1 Automotive Inc. | 0.12% | 571 | $218K | Reduce -9.8% |
| POST Post Holdings Inc. filed as POST HLDGS INC | 0.12% | 1,856 | $216K | Reduce -0.2% |
| MUR Murphy Oil Corp. | 0.12% | 7,560 | $215K | Reduce -0.2% |
| ALK Alaska Air Group Inc. | 0.12% | 4,360 | $215K | Reduce -9.9% |
| BWA Borgwarner Inc. | 0.12% | 7,461 | $214K | No change |
| DFAC Dimensional US Core Equity 2 | 0.12% | 6,452 | $213K | No change |
| JXN Jackson Financial Inc. Class A | 0.12% | 2,526 | $212K | Reduce -39.8% |
| KBH KB Home | 0.11% | 3,588 | $209K | No change |
| PB Prosperity Bancshares Inc. | 0.11% | 2,904 | $207K | No change |
| ELAN Elanco Animal Health Inc. | 0.11% | 19,679 | $207K | Reduce -1.7% |
| OSK Oshkosh Corp. | 0.11% | 2,138 | $201K | Reduce -0.2% |
| TGNA Tegna Inc. | 0.11% | 10,791 | $197K | New |
| ISVUF iShares Edge MSCI USA Value | 0.11% | 19,483 | $193K | Reduce -17.9% |
| NOV Nov Inc. | 0.11% | 12,681 | $193K | Reduce -0.3% |
| CRGY Crescent Energy Inc. Class A | 0.09% | 14,908 | $168K | Add +47.5% |
| BLKXF Ishare MSCI USA SCR Ucits-Ua | 0.09% | 14,801 | $167K | No change |
| DNB Dun & Bradstreet Holdings Inc. | 0.09% | 17,577 | $157K | No change |
Other holdings (4): bonds, preferreds, convertibles and warrants · $1.6M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| US TREASURY N/B (T 4.5 11/15/25) | FIX | 645,000 | $646K | New |
| US TREASURY N/B (T 2.25 02/15/27) | US Treasury Bills | 415,000 | $402K | New |
| STRIPS (S 0 08/15/34) | US GOVERNMENT | 597,000 | $397K | No change |
| STRIPS (S 0 08/15/29) | US GOVERNMENT | 239,000 | $200K | No change |
Total filed on the 13F, all lines: $184.6M.
Portfolio Sells Q4 2024 → Q1 2025
| XLI SS Industrial Select Sector | Reduce -54.4% | 2.85% | −2.76 |
| XLF SS Financial Select Sector | Reduce -32.6% | 8.18% | −2.34 |
| JCPB JPMorgan Core Plus Bond ETF | Reduce -43.2% | 3.91% | −2.11 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -76.6% | 0.53% | −1.47 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Sold out | 0.00% | −1.43 |
| IEFA iShares Core MSCI Eafe ETF | Sold out | 0.00% | −0.86 |
| XLY SS Consumer Disc Select Sect | Reduce -15.7% | 3.98% | −0.81 |
| CSTNL iShares Core S&P 500 | Reduce -70.8% | 0.28% | −0.62 |
| EWT iShares MSCI Taiwan ETF | Sold out | 0.00% | −0.40 |
| FXI iShares China Large-Cap ETF | Reduce -36.6% | 2.03% | −0.40 |
| AVUV Avantis US Small Cap Value | Sold out | 0.00% | −0.39 |
| FLIN Franklin Ftse India ETF | Reduce -26.6% | 1.30% | −0.33 |
| DB Deutsche Bank AG-Registered | Sold out | 0.00% | −0.32 |
| ISAPF iShares Core Em Imi Acc | Sold out | 0.00% | −0.29 |
| XLRE SS Real Estate Select Sector | Reduce -40.4% | 0.58% | −0.27 |
| FLSW Franklin Ftse Switzerland | Reduce -32.2% | 1.28% | −0.23 |
| ISHVF iShares US Agg BND Usd Acc | Reduce -85.3% | 0.04% | −0.22 |
| EZA iShares MSCI South Africa Et | Reduce -56.8% | 0.27% | −0.21 |
| BBCA JPMorgan Betabuilders Canada | Reduce -36.2% | 0.53% | −0.20 |
| IVV iShares Core S&P 500 ETF | Sold out | 0.00% | −0.19 |
| AD Array Digital Infrastructure | Sold out | 0.00% | −0.16 |
| TREASURY BILL (B 0 01/30/25) | Sold out | 0.00% | −0.16 |
| QQQ Invesco QQQ Trust Series 1 | Sold out | 0.00% | −0.14 |
| ISHYF iShares Usd HY Corp. Usd Acc | Sold out | 0.00% | −0.13 |
| LAD Lithia Motors Inc. | Sold out | 0.00% | −0.13 |
| VNGLF Vang Ftse Eur Eura | Reduce -50.9% | 0.17% | −0.11 |
| EDEN iShares MSCI Denmark ETF | Reduce -35.0% | 0.26% | −0.11 |
| TREASURY BILL (B 0 03/20/25) | Sold out | 0.00% | −0.11 |
| CZR Caesars Entertainment Inc. | Sold out | 0.00% | −0.10 |
| ISJPF iShares JPM Usd Em BND Usd A | Sold out | 0.00% | −0.10 |
| ABG Asbury Automotive Group | Sold out | 0.00% | −0.10 |
| NWL Newell Brands Inc. | Sold out | 0.00% | −0.08 |
| FLTW Franklin Ftse Taiwan ETF | Reduce -6.9% | 1.50% | −0.08 |
| ISCXF iShares Usd Corp. Bond Usd A | Sold out | 0.00% | −0.07 |
| EWH iShares MSCI Hong Kong ETF | Reduce -28.8% | 0.34% | −0.07 |
| JXN Jackson Financial Inc. Class A | Reduce -39.8% | 0.12% | −0.06 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -10.0% | 1.10% | −0.05 |
| TREASURY BILL (B 0 02/06/25) | Sold out | 0.00% | −0.05 |
| ISJMF iShares JPM Usd Em CRP Usd A | Sold out | 0.00% | −0.04 |
| EWS iShares MSCI Singapore ETF | Reduce -24.4% | 0.46% | −0.04 |
| ALK Alaska Air Group Inc. | Reduce -9.9% | 0.12% | −0.04 |
| TREASURY BILL (B 0 03/06/25) | Sold out | 0.00% | −0.03 |
| ADV Advantage Solutions Inc. | Sold out | 0.00% | −0.03 |
| BFH Bread Financial Holdings Inc. | Reduce -9.9% | 0.13% | −0.03 |
| HL Hecla Mining Co. | Sold out | 0.00% | −0.03 |
| HOUS Anywhere Real Estate Inc. | Sold out | 0.00% | −0.03 |
| CNDT Conduent Inc. | Sold out | 0.00% | −0.02 |
| IJH iShares Core S&P Midcap ETF | Reduce -10.0% | 0.33% | −0.02 |
| ALLIED GAMING & ENTRTNMNT IN | Sold out | 0.00% | −0.02 |
| IAGG iShares Intl Aggregate Bond | Reduce -13.8% | 0.39% | −0.01 |
Portfolio Buys Q4 2024 → Q1 2025
| XLE SS Energy Select Sector | Add +101.5% | 4.10% | +2.43 |
| VGT Vanguard Info Tech ETF | New | 1.61% | +1.61 |
| XLK SS Technology Select Sector | Add +42.4% | 5.00% | +1.47 |
| EWG iShares MSCI Germany ETF | New | 1.23% | +1.23 |
| FLJP Franklin Ftse Japan ETF | Add +21.4% | 4.28% | +1.22 |
| EWQ iShares MSCI France ETF | Add +32.6% | 1.75% | +0.69 |
| XLP SS Consumer Staples Sel Sect | Add +5.9% | 3.47% | +0.65 |
| EWL iShares MSCI Switzerland ETF | New | 0.63% | +0.63 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +14.7% | 2.33% | +0.59 |
| BIL SS SPDR BB 1-3M T-Bill ETF | New | 0.57% | +0.57 |
| SPYV SS SPDR P S&P 500 Value ETF | Add +56.7% | 1.03% | +0.44 |
| EWI iShares MSCI Italy ETF | Add +40.4% | 0.72% | +0.33 |
| EWN iShares MSCI Netherlands ETF | Add +36.6% | 0.68% | +0.26 |
| EWD iShares MSCI Sweden ETF | Add +13.1% | 0.68% | +0.20 |
| LNC Lincoln National Corp. | New | 0.17% | +0.17 |
| TREASURY BILL (B 0 06/20/25) | New | 0.16% | +0.16 |
| SIRI Sirius XM Holdings Inc. | New | 0.16% | +0.16 |
| MOS The Mosaic Co. | New | 0.14% | +0.14 |
| ECHO Echostar Corp. Class A | New | 0.13% | +0.13 |
| AA Alcoa Corp. | New | 0.12% | +0.12 |
| EWY iShares MSCI South Korea ETF | Add +36.7% | 0.29% | +0.11 |
| KSA Ishrs MSCI Saudi Arabia ETF | Add +29.7% | 0.35% | +0.11 |
| TGNA Tegna Inc. | New | 0.11% | +0.11 |
| PR Permian Resources Corp. Class A | New | 0.08% | +0.08 |
| CRGY Crescent Energy Inc. Class A | Add +47.5% | 0.09% | +0.02 |
| UAA Under Armour Inc. Class A | Add +0.8% | 0.04% | −0.01 |
Notes & Other Activity Q4 2024 → Q1 2025
| US TREASURY N/B (T 4.5 11/15/25) | FIX | New | 645,000 | $646K |
| US TREASURY N/B (T 2.25 02/15/27) | US Treasury Bills | New | 415,000 | $402K |
| US TREASURY N/B (T 1.125 01/15/25) | FIX | Sold out | 167,000 | $167Kbefore 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 |