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    Disciplined Process,
    Superior Results
    For over thirty years, the mission hasn't changed. Responsibly grow client assets.

Our Strategies

Each of the Leuthold Fund strategies fits a distinctive investment niche; investors may employ the strategies in tandem to facilitate their long-term investment goals and/or to adjust investment exposure during uncertain, volatile, or changing market environments.

Leuthold Core Investment Fund
Tactical Asset Allocation (domestically focused)
Leuthold Select Industries Fund
Long-Only Equity (equity group/sector rotation U.S. traded)
Grizzly Short Fund
Short-Only Equity (actively managed)
Leuthold Global Fund
Tactical Asset Allocation (globally focused)
Investors should consider the investment objectives, risks, charges, and expenses of the investment company carefully before investing. The Prospectus contains this and other information about the Funds. For a Current Prospectus, call toll-free 800-273-6886, or go to our Fund Documents page. Please read the Prospectus carefully before you invest. Distributor: Rafferty Capital Markets, LLC. Garden City, NY 11530

Our Philosophy


We believe the most important decision is proper asset class selection and a highly disciplined, unemotional method of evaluating risk/reward potential across investment choices.

Exposure Matches Views

Our perspective is long-term, yet our process involves evaluating the underlying well-being of the market on an ongoing basis. We watch for indications of a shift in dynamics; when a change in reward/risk is warranted, exposure is adjusted as needed.


While all investment strategies are apt to experience periods of underperformance, to be most effective in a variety of market environments we believe flexibility is a key component. Our guiding disciplines combined with this flexibility helps to maximize our success. 

Our Team

Sound strategies and proven investment models are nothing without the talented people to provide management and direction. The Leuthold Group is a close-knit team of experienced professionals, committed to superior investment solutions and exceptional client service.

Doug Ramsey, CFA, CMT / Chief Investment Officer
Chief Investment Officer
James Paulsen, Ph.D. / Chief Investment Strategist
Chief Investment Strategist
Scott Opsal, CFA / Director of Equities
Director of Equities
Chun Wang, CFA, PRM / Co-Portfolio Manager
Co-Portfolio Manager
Greg Swenson, CFA / Co-Portfolio Manager
Co-Portfolio Manager
Jun Zhu, CFA / Co-Portfolio Manager
Co-Portfolio Manager
Kristen Perleberg, CFA / Co-Portfolio Manager
Co-Portfolio Manager
Phil Segner, CFA / Senior Analyst
Senior Analyst

Our History

The Leuthold Group began in 1981 as an institutional investment research firm. Founder Steve Leuthold built a research team and investment policies incorporating technical and quantitative methodologies, broad sector and industry group analysis, supply/demand dynamics, and historical intrinsic value relationships.

In 1987, The Leuthold Group established a Registered Investment Adviser offshoot to direct investment portfolios using the firm’s institutional research models as the foundation for its equity selection and asset allocation process. A policy of disciplined, unemotional, and strategic investing, backed by solid and comprehensive research, has enabled The Leuthold Group to establish a strong track record and achieve impressive client loyalty.

Latest News


October 31, 2019

CIO Doug Ramsey's 3rd Quarter Commentary & Market Outlook

November 14, 2019

Leuthold Funds capital gains will be distributed to shareholders of record as of November 13, 2019, with the x-date and payable date of November 14, 2019.

September 19, 2019

Leuthold Funds will distribute income distributions to shareholders of record as of September 18, 2019, with the x-date and payable date of September 19, 2019.

February 7, 2019

The Leuthold Group names Scott Opsal Co-Portfolio Manager on Leuthold Select Industries and Leuthold Global Industries Strategies.

Latest Media

Contact Us

The Leuthold Group

150 South Fifth Street, Suite 1700
Minneapolis, MN 55402


800-273-6886 (Shareholder Services)