# EDGAR Filing Document

**Accession Number:** 0001752579
**File Stem:** 0001752579-25-000005
**Filing Date:** 2025-8
**Character Count:** 15305
**Document Hash:** 984cf83a74bd228955e8deaddfd078da
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752579-25-000005.hdr.sgml**: 20250806

**ACCESSION NUMBER**: 0001752579-25-000005

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250806

**DATE AS OF CHANGE**: 20250806

**EFFECTIVENESS DATE**: 20250806

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** INNEALTA CAPITAL, LLC
- **CENTRAL INDEX KEY:** 0001752579

**ORGANIZATION NAME:**
- **EIN:** 823587641
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-19205
- **FILM NUMBER:** 251188822

**BUSINESS ADDRESS:**
- **STREET 1:** 13215 BEE CAVE PARKWAY
- **STREET 2:** BUILDING A, SUITE 240
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78738-0064
- **BUSINESS PHONE:** (737) 808-4640

**MAIL ADDRESS:**
- **STREET 1:** 13215 BEE CAVE PARKWAY
- **STREET 2:** BUILDING A, SUITE 240
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78738-0064

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** INNEALTA CAPITAL LLC<br>**Address:** 13215 BEE CAVE PARKWAY<br>BUILDING A SUITE 240<br>AUSTIN, TX 78738-0064

**Form 13F File Number:** 028-19205

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Carla A. Fava<br>**Title:** Chief Compliance Officer<br>**Phone:** (737) 808-4640

**Signature, Place, and Date of Signing:**

CARLA A. FAVA  AUSTIN, TX  08-06-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 105

**Form 13F Information Table Value Total:** $189602851

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| TECHNOLOGY SELECT SECT SPDR | ETP | 81369Y803 | BBG000BJ7007 | 24739052 | 97694 | SH |  | SOLE |  | 0 | 0 | 0 |
| FINANCIAL SELECT SECTOR SPDR | ETP | 81369Y605 | BBG000BJ29X7 | 22642484 | 432356 | SH |  | SOLE |  | 0 | 0 | 0 |
| COMM SERV SELECT SECTOR SPDR | ETP | 81369Y852 | BBG00L5F9F38 | 12579929 | 115912 | SH |  | SOLE |  | 0 | 0 | 0 |
| HEALTH CARE SELECT SECTOR | ETP | 81369Y209 | BBG000BHVSG6 | 9757583 | 72391 | SH |  | SOLE |  | 0 | 0 | 0 |
| CONSUMER DISCRETIONARY SELT | ETP | 81369Y407 | BBG000BJ1MF9 | 7542438 | 34705 | SH |  | SOLE |  | 0 | 0 | 0 |
| FRANKLIN FTSE JAPAN ETF | ETP | 35473P744 | BBG00J3MDY16 | 7073965 | 220030 | SH |  | SOLE |  | 0 | 0 | 0 |
| CONSUMER STAPLES SPDR | ETP | 81369Y308 | BBG000BJ10N8 | 5201027 | 64234 | SH |  | SOLE |  | 0 | 0 | 0 |
| INDUSTRIAL SELECT SECT SPDR | ETP | 81369Y704 | BBG000BJ2RF7 | 4956229 | 33597 | SH |  | SOLE |  | 0 | 0 | 0 |
| VANGUARD INFO TECH ETF | ETP | 92204A702 | BBG000HSZQ76 | 4942763 | 7452 | SH |  | SOLE |  | 0 | 0 | 0 |
| VANGUARD TOTAL STOCK MKT ETF | ETP | 922908769 | BBG000HR9779 | 4590291 | 15103 | SH |  | SOLE |  | 0 | 0 | 0 |
| FRANKLIN FTSE UNITED KINGDOM | ETP | 35473P678 | BBG00J3PQYB4 | 4430721 | 144653 | SH |  | SOLE |  | 0 | 0 | 0 |
| VANGUARD FTSE DEVELOPED ETF | ETP | 921943858 | BBG000QVFB47 | 4244851 | 74458 | SH |  | SOLE |  | 0 | 0 | 0 |
| FRANKLIN FTSE GERMANY ETF | ETP | 35473P785 | BBG00J3MNNR1 | 4048847 | 120789 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES MSCI FRANCE ETF | ETP | 464286707 | BBG000BJX6S5 | 3625888 | 84717 | SH |  | SOLE |  | 0 | 0 | 0 |
| FRANKLIN FTSE CANADA ETF | ETP | 35473P827 | BBG00J3N6M72 | 3006042 | 72001 | SH |  | SOLE |  | 0 | 0 | 0 |
| FRANKLIN FTSE INDIA ETF | ETP | 35473P769 | BBG00JYWBHT9 | 2700076 | 67790 | SH |  | SOLE |  | 0 | 0 | 0 |
| FRANKLIN FTSE CHINA ETF | ETP | 35473P819 | BBG00J3MD154 | 2669476 | 122989 | SH |  | SOLE |  | 0 | 0 | 0 |
| FRANKLIN FTSE SWITZERLAND | ETP | 35473P694 | BBG00JYXTYC9 | 2490478 | 65646 | SH |  | SOLE |  | 0 | 0 | 0 |
| SPDR PORT S 500 VALUE | ETP | 78464A508 | BBG000C9PJB5 | 2470343 | 47198 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES MSCI ITALY ETF | ETP | 46434G830 | BBG000BK2V65 | 2436654 | 50616 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES MSCI SPAIN ETF | ETP | 464286764 | BBG000BK58Q1 | 2393999 | 54372 | SH |  | SOLE |  | 0 | 0 | 0 |
| JPMORGAN ACTIVE BOND ETF | ETP | 46654Q716 | BBG01J4V60G0 | 2389632 | 44591 | SH |  | SOLE |  | 0 | 0 | 0 |
| VANECK SEMICONDUCTOR ETF | ETP | 92189F676 | BBG000BV7ZQ5 | 2386376 | 8557 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES RUSSELL MID-CAP GROW | ETP | 464287481 | BBG000BW05W9 | 2141358 | 15441 | SH |  | SOLE |  | 0 | 0 | 0 |
| REAL ESTATE SELECT SECT SPDR | ETP | 81369Y860 | BBG00B597128 | 2088893 | 50432 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES MSCI SOUTH KOREA ETF | ETP | 464286772 | BBG000CDKWX8 | 1966126 | 27391 | SH |  | SOLE |  | 0 | 0 | 0 |
| FRANKLIN FTSE TAIWAN ETF | ETP | 35473P686 | BBG00J3PQ956 | 1933953 | 37056 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES CHINA LARGE-CAP ETF | ETP | 464287184 | BBG000Q8RVM1 | 1896265 | 51585 | SH |  | SOLE |  | 0 | 0 | 0 |
| VANGUARD TOTAL BOND MARKET | ETP | 921937835 | BBG000BZZS63 | 1891628 | 25691 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES MSCI SINGAPORE ETF | ETP | 46434G780 | BBG000BK4VM5 | 1833123 | 70559 | SH |  | SOLE |  | 0 | 0 | 0 |
| FRANKLIN FTSE AUSTRALIA ETF | ETP | 35473P843 | BBG00J3M8WZ9 | 1706438 | 55032 | SH |  | SOLE |  | 0 | 0 | 0 |
| VANGUARD FTSE EMERGING MARKE | ETP | 922042858 | BBG000HT88C8 | 1464362 | 29607 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES MSCI CHILE ETF | ETP | 464286640 | BBG000TVZM75 | 1355495 | 43100 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES MSCI SWEDEN ETF | ETP | 464286756 | BBG000BK5LR1 | 1330256 | 29083 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES MSCI NETHERLANDS ETF | ETP | 464286814 | BBG000BK4FC1 | 1287290 | 23620 | SH |  | SOLE |  | 0 | 0 | 0 |
| SPDR GOLD SHARES | ETP | 78463V107 | BBG000CRF6Q8 | 1286992 | 4222 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES MSCI MEXICO ETF | ETP | 464286822 | BBG000BK42M9 | 1246385 | 20581 | SH |  | SOLE |  | 0 | 0 | 0 |
| ENERGY SELECT SECTOR SPDR | ETP | 81369Y506 | BBG000BJ20S2 | 1155706 | 13627 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES CORE S MIDCAP ETF | ETP | 464287507 | BBG000BWC7P0 | 1038959 | 16752 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES IBOXX INVESTMENT GRA | ETP | 464287242 | BBG000BBV9N3 | 959526 | 8754 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES CORE S 500 | ETP | G4955H110 | BBG0015VQKL7 | 952924 | 1444 | SH |  | SOLE |  | 0 | 0 | 0 |
| FRANKLIN FTSE SOUTH KOREA | ETP | 35473P710 | BBG00J3N5BB2 | 857135 | 35071 | SH |  | SOLE |  | 0 | 0 | 0 |
| ALPHA ARCHITECT 1-3 MNTH BOX | ETP | 02072L565 | BBG01BBK3Q88 | 782450 | 6944 | SH |  | SOLE |  | 0 | 0 | 0 |
| SPDR S 500 ETF TRUST | ETP | 78462F103 | BBG000BDTBL9 | 728445 | 1179 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES INTL AGGREGATE BOND | ETP | 46435G672 | BBG00BDV2SP1 | 701210 | 13725 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES MSCI HONG KONG ETF | ETP | 464286871 | BBG000BBDXW0 | 577946 | 29101 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES JP MORGAN USD EMERGI | ETP | 464288281 | BBG000NXKWH0 | 548496 | 5922 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES MSCI TAIWAN ETF | ETP | 46434G772 | BBG000CJLQ12 | 527391 | 9188 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHRS MSCI SAUDI ARABIA ETF | ETP | 46434V423 | BBG00B094395 | 513546 | 13325 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES MSCI SOUTH AFRICA ET | ETP | 464286780 | BBG000PNJ9F5 | 488534 | 9089 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES FLOATING RATE BOND E | ETP | 46429B655 | BBG001QWVB81 | 486527 | 9536 | SH |  | SOLE |  | 0 | 0 | 0 |
| FRANKLIN FTSE BRAZIL ETF | ETP | 35473P835 | BBG00J3M9VQ0 | 480125 | 26733 | SH |  | SOLE |  | 0 | 0 | 0 |
| JPMORGAN BETABUILDERS CANADA | ETP | 46641Q225 | BBG00LN4CVW2 | 462815 | 5735 | SH |  | SOLE |  | 0 | 0 | 0 |
| INVESCO OPTIMUM YIELD DIVERS | ETP | 46090F100 | BBG007HL81C5 | 398359 | 30549 | SH |  | SOLE |  | 0 | 0 | 0 |
| SPDR DJ GLOBAL REAL ESTATE E | ETP | 78463X749 | BBG000FS2Q74 | 389756 | 8830 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES MSCI DENMARK ETF | ETP | 46429B523 | BBG002DW4P82 | 356885 | 3138 | SH |  | SOLE |  | 0 | 0 | 0 |
| JACKSON FINANCIAL INC-A | COMMON STOCK | 46817M107 | BBG00922Y5Z6 | 336070 | 3785 | SH |  | SOLE |  | 0 | 0 | 0 |
| RADIAN GROUP INC | COMMON STOCK | 750236101 | BBG000BMWV95 | 321226 | 8918 | SH |  | SOLE |  | 0 | 0 | 0 |
| KYNDRYL HOLDINGS INC | COMMON STOCK | 50155Q100 | BBG012W99DN6 | 314910 | 7505 | SH |  | SOLE |  | 0 | 0 | 0 |
| SIRIUS XM HOLDINGS INC | COMMON STOCK | 829933100 | BBG01KJQM3Y8 | 305800 | 13313 | SH |  | SOLE |  | 0 | 0 | 0 |
| MGIC INVESTMENT CORP | COMMON STOCK | 552848103 | BBG000CBMH27 | 303261 | 10893 | SH |  | SOLE |  | 0 | 0 | 0 |
| LINCOLN NATIONAL CORP | COMMON STOCK | 534187109 | BBG000BNC3Y9 | 300951 | 8698 | SH |  | SOLE |  | 0 | 0 | 0 |
| ECHOSTAR CORP-A | COMMON STOCK | 278768106 | BBG000TGLV00 | 295753 | 10677 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISH DIVERS COMMOD SWAP ETF | ETP | G4954P378 | BBG00H1LS1Y4 | 295153 | 40447 | SH |  | SOLE |  | 0 | 0 | 0 |
| TAYLOR MORRISON HOME CORP | COMMON STOCK | 87724P106 | BBG003PGJHP5 | 294447 | 4794 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES MSCI BRAZIL ETF | ETP | 464286400 | BBG000CPLR52 | 294357 | 10203 | SH |  | SOLE |  | 0 | 0 | 0 |
| AXIS CAPITAL HOLDINGS LTD | COMMON STOCK | G0692U109 | BBG000FLF615 | 292357 | 2816 | SH |  | SOLE |  | 0 | 0 | 0 |
| GENWORTH FINANCIAL INC | COMMON STOCK | 37247D106 | BBG000J5Q6L2 | 288778 | 37118 | SH |  | SOLE |  | 0 | 0 | 0 |
| PARAMOUNT GLOBAL-CLASS B | COMMON STOCK | 92556H206 | BBG000C496P7 | 281426 | 21816 | SH |  | SOLE |  | 0 | 0 | 0 |
| BREAD FINANCIAL HOLDINGS INC | COMMON STOCK | 018581108 | BBG000BFNR17 | 277032 | 4850 | SH |  | SOLE |  | 0 | 0 | 0 |
| OLD REPUBLIC INTL CORP | COMMON STOCK | 680223104 | BBG000C4PLF7 | 272962 | 7101 | SH |  | SOLE |  | 0 | 0 | 0 |
| ADT INC | COMMON STOCK | 00090Q103 | BBG000BP9WJ1 | 272209 | 32138 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES MSCI SWITZERLAND ETF | ETP | 464286749 | BBG000BK5Z27 | 259745 | 4739 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES CORE EM IMI ACC | ETP | G49507836 | BBG006B8QQK8 | 251888 | 6411 | SH |  | SOLE |  | 0 | 0 | 0 |
| BORGWARNER INC | COMMON STOCK | 099724106 | BBG000BJ49H3 | 249459 | 7451 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES US AGG BND USD ACC | ETP | G4R53X257 | BBG00GF9PY42 | 245632 | 44250 | SH |  | SOLE |  | 0 | 0 | 0 |
| ALCOA CORP | COMMON STOCK | 013872106 | BBG00B3T3HD3 | 244638 | 8290 | SH |  | SOLE |  | 0 | 0 | 0 |
| REGAL REXNORD CORP | COMMON STOCK | 758750103 | BBG000BRXTR8 | 237589 | 1639 | SH |  | SOLE |  | 0 | 0 | 0 |
| LITHIA MOTORS INC | COMMON STOCK | 536797103 | BBG000K3BC83 | 237487 | 703 | SH |  | SOLE |  | 0 | 0 | 0 |
| APA CORP | COMMON STOCK | 03743Q108 | BBG00YTS96G2 | 236289 | 12919 | SH |  | SOLE |  | 0 | 0 | 0 |
| MATADOR RESOURCES CO | COMMON STOCK | 576485205 | BBG000JCPGZ1 | 233017 | 4883 | SH |  | SOLE |  | 0 | 0 | 0 |
| DIMENSIONAL US CORE EQUITY 2 | ETP | 25434V708 | BBG011DXY5J0 | 231240 | 6452 | SH |  | SOLE |  | 0 | 0 | 0 |
| INVESCO QQQ TRUST SERIES 1 | ETP | 46090E103 | BBG000BSWKH7 | 225069 | 408 | SH |  | SOLE |  | 0 | 0 | 0 |
| FIRST AMERICAN FINANCIAL | COMMON STOCK | 31847R102 | BBG000V78V75 | 217812 | 3548 | SH |  | SOLE |  | 0 | 0 | 0 |
| TELEPHONE AND DATA SYSTEMS | COMMON STOCK | 879433829 | BBG000BV0VK7 | 217785 | 6121 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES MSCI MALAYSIA ETF | ETP | 46434G814 | BBG000BK3L48 | 205211 | 8431 | SH |  | SOLE |  | 0 | 0 | 0 |
| AIR LEASE CORP | COMMON STOCK | 00912X302 | BBG000R3NPZ4 | 201966 | 3453 | SH |  | SOLE |  | 0 | 0 | 0 |
| ANTERO MIDSTREAM CORP | COMMON STOCK | 03676B102 | BBG00GBNZ4M0 | 195678 | 10326 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES MSCI USA ESG SCREEND | ETP | G4954B536 | BBG00M97SNL2 | 189218 | 14801 | SH |  | SOLE |  | 0 | 0 | 0 |
| TEGNA INC | COMMON STOCK | 87901J105 | BBG000BK5DP1 | 180857 | 10791 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES EDGE MSCI USA VALUE | ETP | G4955M788 | BBG00DZWFD07 | 179148 | 16861 | SH |  | SOLE |  | 0 | 0 | 0 |
| DUN  BRADSTREET HOLDINGS IN | COMMON STOCK | 26484T106 | BBG00VCZX9Z6 | 159775 | 17577 | SH |  | SOLE |  | 0 | 0 | 0 |
| NOV INC | COMMON STOCK | 62955J103 | BBG000BJX8C8 | 157625 | 12681 | SH |  | SOLE |  | 0 | 0 | 0 |
| ELANCO ANIMAL HEALTH INC | COMMON STOCK | 28414H103 | BBG00LJYS1P8 | 143028 | 10016 | SH |  | SOLE |  | 0 | 0 | 0 |
| MACY'S INC | COMMON STOCK | 55616P104 | BBG000C46HM9 | 139710 | 11982 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES JPM USD EM BND USD A | ETP | G4R53X240 | BBG00GF9X2B5 | 132532 | 21896 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES USD HY CORP USD ACC | ETP | G4R53X265 | BBG00GF9NT54 | 129281 | 18224 | SH |  | SOLE |  | 0 | 0 | 0 |
| CRESCENT ENERGY INC-A | COMMON STOCK | 44952J104 | BBG013THLHZ4 | 128209 | 14908 | SH |  | SOLE |  | 0 | 0 | 0 |
| ALIGHT INC - CLASS A | COMMON STOCK | 01626W101 | BBG00H00J2N1 | 98705 | 17439 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES JPM USD EM CRP USD A | ETP | G4R54M789 | BBG00KSMR8F3 | 90910 | 14162 | SH |  | SOLE |  | 0 | 0 | 0 |
| TOPGOLF CALLAWAY BRANDS CORP | COMMON STOCK | 131193104 | BBG000CPCVY1 | 86030 | 10687 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES CORE GLB AGG USD-H A | ETP | G4R54N258 | BBG00J5HKP34 | 81738 | 14381 | SH |  | SOLE |  | 0 | 0 | 0 |
| COMPASS INC - CLASS A | COMMON STOCK | 20464U100 | BBG00J5SXTH3 | 62957 | 10025 | SH |  | SOLE |  | 0 | 0 | 0 |
| GRAY MEDIA INC | COMMON STOCK | 389375106 | BBG000DSQLQ0 | 51488 | 11366 | SH |  | SOLE |  | 0 | 0 | 0 |

---