Innealta Capital, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 6, 2025), Innealta Capital, LLC reported 104 stock positions worth $189.6 million. Its top holding was SS Technology Select Sector (XLK) at 13.0% of the portfolio, followed by SS Financial Select Sector (XLF, 11.9%) and SS Comm Select Sector SPDR (XLC, 6.6%). Compared with Q1 2025, it opened 24 new positions, sold out of 32, added to 29 and reduced 33. The biggest buy was SS Technology Select Sector (XLK, shares +121%) and the biggest sale JPMorgan Active Bond ETF (JBND, shares −88%).
- Most Recent 13F
- Q2 2026
- Location
- AUSTIN, TX
- CIK
- 0001752579
- Portfolio Value
- $189.6M (Q2 2025)
- SEC Filing
- 0001752579-25-000005 ↗ filed Aug 6, 2025
Holdings Value
Holdings 104 stocks · $189.6M
| XLK SS Technology Select Sector | 13.05% | 97,694 | $24.7M | Add +120.7% |
| XLF SS Financial Select Sector | 11.94% | 432,356 | $22.6M | Add +43.9% |
| XLC SS Comm Select Sector SPDR | 6.63% | 115,912 | $12.6M | Add +95.4% |
| XLV SS Health Care Select Sector | 5.15% | 72,391 | $9.8M | Add +43.1% |
| XLY SS Consumer Disc Select Sect | 3.98% | 34,705 | $7.5M | Reduce -5.8% |
| FLJP Franklin Ftse Japan ETF | 3.73% | 220,030 | $7.1M | Reduce -17.4% |
| XLP SS Consumer Staples Sel Sect | 2.74% | 64,234 | $5.2M | Reduce -17.3% |
| XLI SS Industrial Select Sector | 2.61% | 33,597 | $5.0M | Reduce -15.5% |
| VGT Vanguard Info Tech ETF | 2.61% | 7,452 | $4.9M | Add +37.3% |
| VTI VG Morningstar TS MKT ETF-US | 2.42% | 15,103 | $4.6M | Add +106.2% |
| FLGB Franklin Ftse United Kingdom | 2.34% | 144,653 | $4.4M | Reduce -11.2% |
| VEA Vanguard Ftse Developed ETF | 2.24% | 74,458 | $4.2M | Add +194.4% |
| FLGR Franklin Ftse Germany ETF | 2.14% | 120,789 | $4.0M | No change |
| EWQ iShares MSCI France ETF | 1.91% | 84,717 | $3.6M | Add +5.5% |
| FLCA Franklin Ftse Canada ETF | 1.59% | 72,001 | $3.0M | Reduce -34.5% |
| FLIN Franklin Ftse India ETF | 1.42% | 67,790 | $2.7M | Add +5.2% |
| FLCH Franklin Ftse China ETF | 1.41% | 122,989 | $2.7M | No change |
| FLSW Franklin Ftse Switzerland | 1.31% | 65,646 | $2.5M | Add +0.5% |
| SPYV SS SPDR P S&P 500 Value ETF | 1.30% | 47,198 | $2.5M | Add +28.5% |
| EWI iShares MSCI Italy ETF | 1.29% | 50,616 | $2.4M | Add +63.6% |
| EWP iShares MSCI Spain ETF | 1.26% | 54,372 | $2.4M | Add +55.1% |
| JBND JPMorgan Active Bond ETF | 1.26% | 44,591 | $2.4M | Reduce -87.8% |
| SMH Vaneck Semiconductor ETF | 1.26% | 8,557 | $2.4M | New |
| IWP iShares Russell Mid-Cap Grow | 1.13% | 15,441 | $2.1M | New |
| XLRE SS Real Estate Select Sector | 1.10% | 50,432 | $2.1M | Add +98.0% |
| EWY iShares MSCI South Korea ETF | 1.04% | 27,391 | $2.0M | Add +179.5% |
| FLTW Franklin Ftse Taiwan ETF | 1.02% | 37,056 | $1.9M | Reduce -41.5% |
| FXI iShares China Large-Cap ETF | 1.00% | 51,585 | $1.9M | Reduce -50.3% |
| BND Vanguard Total Bond Market | 1.00% | 25,691 | $1.9M | Add +8.2% |
| EWS iShares MSCI Singapore ETF | 0.97% | 70,559 | $1.8M | Add +98.4% |
| FLAU Franklin Ftse Australia ETF | 0.90% | 55,032 | $1.7M | Reduce -0.3% |
| VWO Vanguard Ftse Emerging Marke | 0.77% | 29,607 | $1.5M | Reduce -25.5% |
| ECH iShares MSCI Chile ETF | 0.71% | 43,100 | $1.4M | New |
| EWD iShares MSCI Sweden ETF | 0.70% | 29,083 | $1.3M | Reduce -0.9% |
| EWN iShares MSCI Netherlands ETF | 0.68% | 23,620 | $1.3M | Reduce -11.4% |
| GLD SPDR Gold Shares | 0.68% | 4,222 | $1.3M | Add +45.5% |
| EWW iShares MSCI Mexico ETF | 0.66% | 20,581 | $1.2M | New |
| XLE SS Energy Select Sector | 0.61% | 13,627 | $1.2M | Reduce -83.0% |
| IJH iShares Core S&P Midcap ETF | 0.55% | 16,752 | $1.0M | Add +63.4% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.51% | 8,754 | $960K | Reduce -2.7% |
| CSTNL iShares Core S&P 500 filed as BLACKROCK, INC. | 0.50% | 1,444 | $953K | Add +68.1% |
| FLKR Franklin Ftse South Korea | 0.45% | 35,071 | $857K | Add +3.0% |
| BOXX Alpha Architect 1-3 MNTH Box | 0.41% | 6,944 | $782K | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.38% | 1,179 | $728K | Reduce -7.8% |
| IAGG iShares Intl Aggregate Bond | 0.37% | 13,725 | $701K | Reduce -3.1% |
| EWH iShares MSCI Hong Kong ETF | 0.30% | 29,101 | $578K | Reduce -19.2% |
| EMB iShares JP Morgan Usd Emergi | 0.29% | 5,922 | $548K | Reduce -51.2% |
| EWT iShares MSCI Taiwan ETF | 0.28% | 9,188 | $527K | New |
| KSA Ishrs MSCI Saudi Arabia ETF | 0.27% | 13,325 | $514K | Reduce -12.7% |
| EZA iShares MSCI South Africa Et | 0.26% | 9,089 | $489K | Reduce -9.8% |
| FLOT iShares Floating Rate Bond E | 0.26% | 9,536 | $487K | Reduce -16.2% |
| FLBR Franklin Ftse Brazil ETF | 0.25% | 26,733 | $480K | Reduce -11.7% |
| BBCA JPMorgan Betabuilders Canada | 0.24% | 5,735 | $463K | Reduce -57.7% |
| PDBC Invesco Optimum Yield Divers | 0.21% | 30,549 | $398K | Reduce -68.2% |
| RWO State Street SPDR Dow Jones | 0.21% | 8,830 | $390K | Add +12.5% |
| EDEN iShares MSCI Denmark ETF | 0.19% | 3,138 | $357K | Reduce -32.0% |
| JXN Jackson Financial Inc. Class A | 0.18% | 3,785 | $336K | Add +49.8% |
| RDN Radian Group Inc. | 0.17% | 8,918 | $321K | No change |
| KD Kyndryl Holdings Inc. | 0.17% | 7,505 | $315K | New |
| SIRI Sirius XM Holdings Inc. | 0.16% | 13,313 | $306K | Add +0.8% |
| MTG Mgic Investment Corp. | 0.16% | 10,893 | $303K | No change |
| LNC Lincoln National Corp. | 0.16% | 8,698 | $301K | Add +0.8% |
| ECHO Echostar Corp. Class A | 0.16% | 10,677 | $296K | Add +13.8% |
| ISCMF Ish Divers Commod Swap ETF | 0.16% | 40,447 | $295K | No change |
| TMHC Taylor Morrison Home Corp. | 0.16% | 4,794 | $294K | No change |
| EWZ iShares MSCI Brazil ETF | 0.16% | 10,203 | $294K | New |
| AXS Axis Capital Holdings Ltd. | 0.15% | 2,816 | $292K | New |
| GNW Genworth Financial Inc. | 0.15% | 37,118 | $289K | No change |
| PARAA Paramount Global Class B | 0.15% | 21,816 | $281K | Reduce -29.8% |
| BFH Bread Financial Holdings Inc. | 0.15% | 4,850 | $277K | No change |
| ORI Old Republic Intl Corp. | 0.14% | 7,101 | $273K | New |
| ADT Adt Inc. | 0.14% | 32,138 | $272K | No change |
| EWL iShares MSCI Switzerland ETF | 0.14% | 4,739 | $260K | Reduce -78.7% |
| ISAPF iShares Core Em Imi Acc | 0.13% | 6,411 | $252K | New |
| BWA Borgwarner Inc. | 0.13% | 7,451 | $249K | Reduce -0.1% |
| ISHVF iShares US Agg BND Usd Acc | 0.13% | 44,250 | $246K | Add +201.5% |
| AA Alcoa Corp. | 0.13% | 8,290 | $245K | Add +14.4% |
| RRX Regal Rexnord Corp. | 0.13% | 1,639 | $238K | New |
| LAD Lithia Motors Inc. | 0.13% | 703 | $237K | New |
| APA Apa Corp. | 0.12% | 12,919 | $236K | New |
| MTDR Matador Resources Co. | 0.12% | 4,883 | $233K | New |
| DFAC Dimensional US Core Equity 2 | 0.12% | 6,452 | $231K | No change |
| QQQ Invesco QQQ Trust Series 1 | 0.12% | 408 | $225K | New |
| FAF First American Financial | 0.11% | 3,548 | $218K | New |
| TDS Telephone and Data Systems | 0.11% | 6,121 | $218K | No change |
| EWM iShares MSCI Malaysia ETF | 0.11% | 8,431 | $205K | New |
| AL Sumisho Air Lease Corp. filed as AIR LEASE CORP | 0.11% | 3,453 | $202K | Reduce -27.5% |
| AM Antero Midstream Corp. | 0.10% | 10,326 | $196K | New |
| BLKXF Ishare MSCI USA SCR Ucits-Ua | 0.10% | 14,801 | $189K | No change |
| TGNA Tegna Inc. | 0.10% | 10,791 | $181K | No change |
| ISVUF iShares Edge MSCI USA Value | 0.09% | 16,861 | $179K | Reduce -13.5% |
| DNB Dun & Bradstreet Holdings Inc. | 0.08% | 17,577 | $160K | No change |
| NOV Nov Inc. | 0.08% | 12,681 | $158K | No change |
| ELAN Elanco Animal Health Inc. | 0.08% | 10,016 | $143K | Reduce -49.1% |
| M Macy's Inc. | 0.07% | 11,982 | $140K | New |
| ISJPF iShares JPM Usd Em BND Usd A | 0.07% | 21,896 | $133K | New |
| ISHYF iShares Usd HY Corp. Usd Acc | 0.07% | 18,224 | $129K | New |
| CRGY Crescent Energy Inc. Class A | 0.07% | 14,908 | $128K | No change |
| ALIT Alight Inc. Class A | 0.05% | 17,439 | $99K | Add +40.3% |
| ISJMF iShares JPM Usd Em CRP Usd A | 0.05% | 14,162 | $91K | New |
| CALY Callaway Golf Company filed as TOPGOLF CALLAWAY BRANDS CORP | 0.05% | 10,687 | $86K | Reduce -13.2% |
| ISGAF iShares Core GLB Agg Usd-H A | 0.04% | 14,381 | $82K | No change |
| COMP Compass Inc. Class A | 0.03% | 10,025 | $63K | New |
| GTN Gray Media Inc. | 0.03% | 11,366 | $51K | No change |
Portfolio Sells Q1 2025 → Q2 2025
| JBND JPMorgan Active Bond ETF | Reduce -87.8% | 1.26% | −9.48 |
| JCPB JPMorgan Core Plus Bond ETF | Sold out | 0.00% | −3.91 |
| XLE SS Energy Select Sector | Reduce -83.0% | 0.61% | −3.49 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Sold out | 0.00% | −2.33 |
| EWG iShares MSCI Germany ETF | Sold out | 0.00% | −1.23 |
| FXI iShares China Large-Cap ETF | Reduce -50.3% | 1.00% | −1.03 |
| XLB SS Materials Select Sector | Sold out | 0.00% | −0.87 |
| XLP SS Consumer Staples Sel Sect | Reduce -17.3% | 2.74% | −0.73 |
| FLCA Franklin Ftse Canada ETF | Reduce -34.5% | 1.59% | −0.65 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Sold out | 0.00% | −0.57 |
| FLJP Franklin Ftse Japan ETF | Reduce -17.4% | 3.73% | −0.55 |
| PDBC Invesco Optimum Yield Divers | Reduce -68.2% | 0.21% | −0.50 |
| EWL iShares MSCI Switzerland ETF | Reduce -78.7% | 0.14% | −0.49 |
| FLTW Franklin Ftse Taiwan ETF | Reduce -41.5% | 1.02% | −0.48 |
| EWA iShares MSCI Australia ETF | Sold out | 0.00% | −0.46 |
| EMB iShares JP Morgan Usd Emergi | Reduce -51.2% | 0.29% | −0.31 |
| BBCA JPMorgan Betabuilders Canada | Reduce -57.7% | 0.24% | −0.29 |
| XLI SS Industrial Select Sector | Reduce -15.5% | 2.61% | −0.23 |
| ISVAF iShares Nasdaq 100 Usd Acc | Sold out | 0.00% | −0.22 |
| FLGB Franklin Ftse United Kingdom | Reduce -11.2% | 2.34% | −0.21 |
| VWO Vanguard Ftse Emerging Marke | Reduce -25.5% | 0.77% | −0.21 |
| IGSB iShares 1-5Y Inv Grade Corp. | Sold out | 0.00% | −0.20 |
| VNGLF Vang Ftse Eur Eura | Sold out | 0.00% | −0.17 |
| TREASURY BILL (B 0 06/20/25) | Sold out | 0.00% | −0.16 |
| DINO HF Sinclair Corp. | Sold out | 0.00% | −0.16 |
| BHF Brighthouse Financial Inc. | Sold out | 0.00% | −0.14 |
| MOS The Mosaic Co. | Sold out | 0.00% | −0.14 |
| MTH Meritage Homes Corp. | Sold out | 0.00% | −0.13 |
| CHRD Chord Energy Corp. | Sold out | 0.00% | −0.13 |
| MHK Mohawk Industries Inc. | Sold out | 0.00% | −0.12 |
| CIVI Civitas Resources Inc. | Sold out | 0.00% | −0.12 |
| R Ryder System Inc. | Sold out | 0.00% | −0.12 |
| GPI Group 1 Automotive Inc. | Sold out | 0.00% | −0.12 |
| POST Post Holdings Inc. | Sold out | 0.00% | −0.12 |
| MUR Murphy Oil Corp. | Sold out | 0.00% | −0.12 |
| ALK Alaska Air Group Inc. | Sold out | 0.00% | −0.12 |
| KBH KB Home | Sold out | 0.00% | −0.11 |
| PB Prosperity Bancshares Inc. | Sold out | 0.00% | −0.11 |
| OSK Oshkosh Corp. | Sold out | 0.00% | −0.11 |
| PR Permian Resources Corp. Class A | Sold out | 0.00% | −0.08 |
| GT Goodyear Tire & Rubber Co. | Sold out | 0.00% | −0.08 |
| FNB FNB Corp. | Sold out | 0.00% | −0.07 |
| KSA Ishrs MSCI Saudi Arabia ETF | Reduce -12.7% | 0.27% | −0.07 |
| EDEN iShares MSCI Denmark ETF | Reduce -32.0% | 0.19% | −0.07 |
| JBLU Jetblue Airways Corp. | Sold out | 0.00% | −0.07 |
| FLOT iShares Floating Rate Bond E | Reduce -16.2% | 0.26% | −0.06 |
| PARAA Paramount Global Class B | Reduce -29.8% | 0.15% | −0.05 |
| EWH iShares MSCI Hong Kong ETF | Reduce -19.2% | 0.30% | −0.04 |
| UAA Under Armour Inc. Class A | Sold out | 0.00% | −0.04 |
| ELAN Elanco Animal Health Inc. | Reduce -49.1% | 0.08% | −0.04 |
Portfolio Buys Q1 2025 → Q2 2025
| XLK SS Technology Select Sector | Add +120.7% | 13.05% | +8.05 |
| XLF SS Financial Select Sector | Add +43.9% | 11.94% | +3.76 |
| XLC SS Comm Select Sector SPDR | Add +95.4% | 6.63% | +3.51 |
| VEA Vanguard Ftse Developed ETF | Add +194.4% | 2.24% | +1.54 |
| VTI VG Morningstar TS MKT ETF-US | Add +106.2% | 2.42% | +1.32 |
| SMH Vaneck Semiconductor ETF | New | 1.26% | +1.26 |
| IWP iShares Russell Mid-Cap Grow | New | 1.13% | +1.13 |
| XLV SS Health Care Select Sector | Add +43.1% | 5.15% | +1.11 |
| VGT Vanguard Info Tech ETF | Add +37.3% | 2.61% | +1.00 |
| EWY iShares MSCI South Korea ETF | Add +179.5% | 1.04% | +0.75 |
| ECH iShares MSCI Chile ETF | New | 0.71% | +0.71 |
| EWW iShares MSCI Mexico ETF | New | 0.66% | +0.66 |
| EWI iShares MSCI Italy ETF | Add +63.6% | 1.29% | +0.57 |
| EWP iShares MSCI Spain ETF | Add +55.1% | 1.26% | +0.53 |
| XLRE SS Real Estate Select Sector | Add +98.0% | 1.10% | +0.52 |
| EWS iShares MSCI Singapore ETF | Add +98.4% | 0.97% | +0.50 |
| BOXX Alpha Architect 1-3 MNTH Box | New | 0.41% | +0.41 |
| EWT iShares MSCI Taiwan ETF | New | 0.28% | +0.28 |
| SPYV SS SPDR P S&P 500 Value ETF | Add +28.5% | 1.30% | +0.28 |
| CSTNL iShares Core S&P 500 | Add +68.1% | 0.50% | +0.22 |
| GLD SPDR Gold Shares | Add +45.5% | 0.68% | +0.22 |
| IJH iShares Core S&P Midcap ETF | Add +63.4% | 0.55% | +0.22 |
| KD Kyndryl Holdings Inc. | New | 0.17% | +0.17 |
| EWQ iShares MSCI France ETF | Add +5.5% | 1.91% | +0.17 |
| EWZ iShares MSCI Brazil ETF | New | 0.16% | +0.16 |
| AXS Axis Capital Holdings Ltd. | New | 0.15% | +0.15 |
| ORI Old Republic Intl Corp. | New | 0.14% | +0.14 |
| ISAPF iShares Core Em Imi Acc | New | 0.13% | +0.13 |
| FLIN Franklin Ftse India ETF | Add +5.2% | 1.42% | +0.13 |
| LAD Lithia Motors Inc. | New | 0.13% | +0.13 |
| RRX Regal Rexnord Corp. | New | 0.13% | +0.13 |
| APA Apa Corp. | New | 0.12% | +0.12 |
| MTDR Matador Resources Co. | New | 0.12% | +0.12 |
| QQQ Invesco QQQ Trust Series 1 | New | 0.12% | +0.12 |
| FAF First American Financial | New | 0.11% | +0.11 |
| FLKR Franklin Ftse South Korea | Add +3.0% | 0.45% | +0.11 |
| EWM iShares MSCI Malaysia ETF | New | 0.11% | +0.11 |
| AM Antero Midstream Corp. | New | 0.10% | +0.10 |
| ISHVF iShares US Agg BND Usd Acc | Add +201.5% | 0.13% | +0.09 |
| M Macy's Inc. | New | 0.07% | +0.07 |
| ISJPF iShares JPM Usd Em BND Usd A | New | 0.07% | +0.07 |
| ISHYF iShares Usd HY Corp. Usd Acc | New | 0.07% | +0.07 |
| JXN Jackson Financial Inc. Class A | Add +49.8% | 0.18% | +0.06 |
| ISJMF iShares JPM Usd Em CRP Usd A | New | 0.05% | +0.05 |
| BND Vanguard Total Bond Market | Add +8.2% | 1.00% | +0.04 |
| FLSW Franklin Ftse Switzerland | Add +0.5% | 1.31% | +0.04 |
| COMP Compass Inc. Class A | New | 0.03% | +0.03 |
| ECHO Echostar Corp. Class A | Add +13.8% | 0.16% | +0.02 |
| RWO State Street SPDR Dow Jones | Add +12.5% | 0.21% | +0.02 |
| ALIT Alight Inc. Class A | Add +40.3% | 0.05% | +0.01 |
Notes & Other Activity Q1 2025 → Q2 2025
| US TREASURY N/B (T 4.5 11/15/25) | FIX | Sold out | 645,000 | $646Kbefore exit |
| US TREASURY N/B (T 2.25 02/15/27) | US Treasury Bills | Sold out | 415,000 | $402Kbefore exit |
| STRIPS (S 0 08/15/34) | US GOVERNMENT | Sold out | 597,000 | $397Kbefore exit |
| STRIPS (S 0 08/15/29) | US GOVERNMENT | Sold out | 239,000 | $200Kbefore 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 |