We believe that focusing on a diverse range of industries offers the potential to capture growth opportunities across various sectors of the economy. By emphasizing flexibility in industry selection and weightings, the all-cap fund seeks to capitalize on unique market dynamics and economic trends as they unfold throughout the business cycle, fostering long-term investment success.
ETF Summary
-
Fund Inception:
June 19, 2000 -
Ticker:
LST -
Net Assets:
$18,396,617 -
Shares Outstanding:
581,875 -
Primary Exchange:
NYSE -
CUSIP:
56167R705 -
Fund Type:
Long-Only Equity (U.S. traded; industry-group rotation & sector concentrations) -
Investment Objective:
Capital appreciation through equity group selection and rotation -
Management Fee:
0.50% -
All Remaining Other Expenses:
0.64% -
Acquired Fund Fee & Expenses:
0.00% -
Expense Reimbursement:
0.49% -
Total Annual Fund Operating Expenses After Expense Reimbursement:
0.65% -
Portfolio Managers:
-
Number of Holdings:
120
Fund Prices
as of April 23, 2025| NAV | Price | ||
|---|---|---|---|
| Net Asset Value | $31.62 | Closing Price | $31.67 |
| Daily Change | $0.39 | Daily Change | $0.42 |
| Daily Change | 1.24% | Daily Change | 1.34% |
| Premium/Discount | 0.18% | ||
| Bid-Ask Spead (30 day median) | 0.22% |
Month/Quarter End Performance
as of March 31, 2025Avg. Annualized
| 1 YR. | 3 YR. | 5 YR. | INCEPTION | |
|---|---|---|---|---|
| Fund NAV | -1.01% | 7.39% | 18.36% | 8.64% |
| Closing Price | -0.89% | 7.44% | 18.39% | 8.65% |
Cumulative
| YTD | 1 MO. | 3 MO. | 6 MO. | INCEPTION | |
|---|---|---|---|---|---|
| Fund NAV | -3.14% | -4.87% | -3.14% | -5.54% | 680.42% |
| Closing Price | -3.02% | -4.79% | -3.02% | -5.43% | 681.39% |
All Holdings Top 10 Holdings
| Percentage of Net Assets | Name | Identifier (Cusip) | Shares Held | Market Value |
|---|---|---|---|---|
| 4.09% | Microsoft Corp | MSFT (594918104) | 1,835 | $687,005.65 |
| 3.34% | Meta Platforms Inc | META (30303M102) | 1,081 | $562,411.87 |
| 3.28% | Netflix Inc | NFLX (64110L106) | 526 | $552,084.34 |
| 2.33% | McKesson Corp | MCK (58155Q103) | 566 | $391,824.82 |
| 2.28% | Alphabet Inc | GOOGL (02079K305) | 2,463 | $382,627.05 |
| 2.06% | T-Mobile US Inc | TMUS (872590104) | 1,338 | $347,010.30 |
| 1.92% | Oracle Corp | ORCL (68389X105) | 2,463 | $323,638.20 |
| 1.89% | Kinross Gold Corp | KGC (496902404) | 22,100 | $317,135.00 |
| 1.87% | Goldman Sachs Group Inc/The | GS (38141G104) | 593 | $313,880.83 |
| 1.84% | Cencora Inc | COR (03073E105) | 1,089 | $310,049.19 |
| 1.80% | Jabil Inc | JBL (466313103) | 2,190 | $303,293.10 |
| 1.78% | Cardinal Health Inc | CAH (14149Y108) | 2,228 | $299,510.04 |
| 1.73% | Mastercard Inc | MA (57636Q104) | 550 | $291,505.50 |
| 1.62% | JPMORGAN CHASE & CO. | JPM (46625H100) | 1,129 | $271,953.52 |
| 1.54% | Morgan Stanley | MS (617446448) | 2,312 | $259,660.72 |
| 1.46% | Visa Inc | V (92826C839) | 732 | $244,758.84 |
| 1.42% | Flex Ltd | FLEX (Y2573F102) | 7,233 | $238,327.35 |
| 1.39% | AT&T Inc | T (00206R102) | 8,608 | $234,051.52 |
| 1.32% | Bank of America Corp | BAC (060505104) | 5,711 | $221,301.25 |
| 1.32% | Check Point Software Technologies Ltd | CHKP (M22465104) | 1,083 | $221,213.58 |
| 1.30% | Fortinet Inc | FTNT (34959E109) | 2,255 | $218,735.00 |
| 1.29% | IAMGOLD Corp | IAG (450913108) | 29,934 | $216,123.48 |
| 1.25% | Deutsche Bank AG | DB (D18190898) | 8,456 | $210,300.72 |
| 1.20% | US BANK MMDA - USBGFS 9 09/01/2037 | 8AMMF0JA0 (8AMMF0JA0) | 202,313 | $202,313.17 |
| 1.20% | Agnico Eagle Mines Ltd | AEM (008474108) | 1,711 | $202,308.64 |
| 1.17% | Citigroup Inc | C (172967424) | 2,966 | $196,645.80 |
| 1.15% | TE Connectivity PLC | TEL (G87052109) | 1,415 | $192,524.90 |
| 1.14% | HCA Healthcare Inc | HCA (40412C101) | 570 | $191,508.60 |
| 1.13% | Stride Inc | LRN (86333M108) | 1,352 | $189,442.24 |
| 1.07% | VeriSign Inc | VRSN (92343E102) | 718 | $180,476.48 |
| 1.03% | Adtalem Global Education Inc | ATGE (00737L103) | 1,647 | $173,066.76 |
| 1.03% | Canadian Imperial Bank of Commerce | CM (136069101) | 2,879 | $173,287.01 |
| 1.00% | Barclays PLC | BCS (06738E204) | 10,711 | $167,520.04 |
| 1.00% | Cisco Systems Inc | CSCO (17275R102) | 3,031 | $168,614.53 |
| 0.98% | Walt Disney Co/The | DIS (254687106) | 1,897 | $165,589.13 |
| 0.89% | Travelers Cos Inc/The | TRV (89417E109) | 578 | $149,748.24 |
| 0.87% | M&T Bank Corp | MTB (55261F104) | 886 | $146,491.24 |
| 0.85% | GoDaddy Inc | GDDY (380237107) | 800 | $142,408.00 |
| 0.84% | Hartford Insurance Group Inc/The | HIG (416515104) | 1,183 | $140,836.15 |
| 0.84% | Laureate Education Inc | LAUR (518613203) | 7,178 | $140,832.36 |
| 0.84% | Nokia Oyj | NOK (654902204) | 26,480 | $140,608.80 |
| 0.83% | Universal Technical Institute Inc | UTI (913915104) | 4,989 | $139,492.44 |
| 0.80% | Allstate Corp/The | ALL (020002101) | 695 | $135,337.35 |
| 0.80% | Comcast Corp | CMCSA (20030N101) | 3,922 | $135,191.34 |
| 0.79% | Genpact Ltd | G (G3922B107) | 2,807 | $133,472.85 |
| 0.79% | Huntington Bancshares Inc/OH | HBAN (446150104) | 9,401 | $133,306.18 |
| 0.78% | SS&C Technologies Holdings Inc | SSNC (78467J100) | 1,724 | $131,661.88 |
| 0.76% | Tenet Healthcare Corp | THC (88033G407) | 1,054 | $127,586.70 |
| 0.73% | Equinox Gold Corp | EQX (29446Y502) | 18,485 | $123,294.95 |
| 0.72% | Akamai Technologies Inc | AKAM (00971T101) | 1,597 | $121,164.39 |
| 0.72% | Citizens Financial Group Inc | CFG (174610105) | 3,315 | $120,964.35 |
| 0.72% | Telefonaktiebolaget LM Ericsson | ERIC (294821608) | 14,550 | $120,910.50 |
| 0.72% | F5 Inc | FFIV (315616102) | 459 | $120,469.14 |
| 0.72% | PNC Financial Services Group Inc/The | PNC (693475105) | 768 | $120,890.88 |
| 0.72% | US Bancorp | USB (902973304) | 3,043 | $120,228.93 |
| 0.71% | ADT Inc | ADT (00090Q103) | 15,118 | $119,583.38 |
| 0.71% | Eldorado Gold Corp | EGO (284902509) | 6,258 | $119,214.90 |
| 0.71% | ONE Gas Inc | OGS (68235P108) | 1,523 | $119,692.57 |
| 0.70% | Assurant Inc | AIZ (04621X108) | 614 | $117,316.98 |
| 0.70% | Merck & Co Inc | MRK (58933Y105) | 1,490 | $117,322.60 |
| 0.70% | Raymond James Financial Inc | RJF (754730109) | 873 | $118,143.09 |
| 0.69% | Pan American Silver Corp | PAAS (697900108) | 4,518 | $116,022.24 |
| 0.69% | Twilio Inc | TWLO (90138F102) | 1,336 | $116,405.68 |
| 0.68% | Okta Inc | OKTA (679295105) | 1,157 | $113,767.81 |
| 0.68% | Spire Inc | SR (84857L101) | 1,482 | $114,869.82 |
| 0.67% | MDU Resources Group Inc | MDU (552690109) | 6,677 | $112,307.14 |
| 0.67% | New Jersey Resources Corp | NJR (646025106) | 2,298 | $113,314.38 |
| 0.67% | Strategic Education Inc | STRA (86272C103) | 1,404 | $112,530.60 |
| 0.67% | UGI Corp | UGI (902681105) | 3,425 | $112,168.75 |
| 0.66% | Arch Capital Group Ltd | ACGL (G0450A105) | 1,203 | $111,289.53 |
| 0.66% | ENCOMPASS HEALTH CORP | EHC (29261A100) | 1,096 | $110,389.12 |
| 0.66% | Life Time Group Holdings Inc | LTH (53190C102) | 3,612 | $110,852.28 |
| 0.65% | Universal Health Services Inc | UHS (913903100) | 659 | $109,914.61 |
| 0.64% | Virtu Financial Inc | VIRT (928254101) | 2,736 | $107,004.96 |
| 0.63% | Markel Group Inc | MKL (570535104) | 59 | $106,004.12 |
| 0.63% | Old National Bancorp/IN | ONB (680033107) | 5,132 | $105,513.92 |
| 0.62% | PayPal Holdings Inc | PYPL (70450Y103) | 1,671 | $104,370.66 |
| 0.62% | Qualys Inc | QLYS (74758T303) | 855 | $104,087.70 |
| 0.61% | Verizon Communications Inc | VZ (92343V104) | 2,392 | $102,138.40 |
| 0.59% | Concentrix Corp | CNXC (20602D101) | 2,054 | $98,817.94 |
| 0.59% | Dycom Industries Inc | DY (267475101) | 614 | $98,700.50 |
| 0.57% | WNS Holdings Ltd | WNS (G98196101) | 1,482 | $96,181.80 |
| 0.56% | Columbia Banking System Inc | COLB (197236102) | 3,984 | $93,703.68 |
| 0.56% | Maximus Inc | MMS (577933104) | 1,375 | $93,926.25 |
| 0.55% | Expedia Group Inc | EXPE (30212P303) | 591 | $92,355.57 |
| 0.54% | CSG Systems International Inc | CSGS (126349109) | 1,546 | $91,353.14 |
| 0.53% | Charter Communications Inc | CHTR (16119P108) | 264 | $89,102.64 |
| 0.52% | United Parks & Resorts Inc | PRKS (81282V100) | 1,974 | $87,369.24 |
| 0.49% | Travel + Leisure Co | TNL (894164102) | 1,933 | $83,215.65 |
| 0.48% | Cadence Bank | CADE (12740C103) | 2,817 | $80,002.80 |
| 0.48% | Frontdoor Inc | FTDR (35905A109) | 1,981 | $80,250.31 |
| 0.48% | Royal Caribbean Cruises Ltd | RCL (V7780T103) | 391 | $81,132.50 |
| 0.48% | Hanover Insurance Group Inc/The | THG (410867105) | 500 | $81,480.00 |
| 0.45% | Carnival Corp | CCL (143658300) | 4,068 | $75,176.64 |
| 0.45% | DigitalOcean Holdings Inc | DOCN (25402D102) | 2,685 | $75,851.25 |
| 0.44% | Hyatt Hotels Corp | H (448579102) | 662 | $73,415.80 |
| 0.42% | Jazz Pharmaceuticals PLC | JAZZ (G50871105) | 676 | $70,432.44 |
| 0.42% | Kemper Corp | KMPR (488401100) | 1,199 | $70,249.41 |
| 0.42% | White Mountains Insurance Group Ltd | WTM (G9618E107) | 40 | $70,040.00 |
| 0.41% | Wix.com Ltd | WIX (M98068105) | 435 | $69,104.10 |
| 0.40% | Norwegian Cruise Line Holdings Ltd | NCLH (G66721104) | 3,914 | $66,538.00 |
| 0.38% | Global Payments Inc | GPN (37940X102) | 879 | $63,077.04 |
| 0.37% | Block Inc | XYZ (852234103) | 1,128 | $62,784.48 |
| 0.28% | Concentra Group Holdings Parent Inc | CON (20603L102) | 2,216 | $46,292.24 |
| 0.28% | Digi International Inc | DGII (253798102) | 1,784 | $47,864.72 |
| 0.27% | PulteGroup Inc | PHM (745867101) | 448 | $45,274.88 |
| 0.27% | Select Medical Holdings Corp | SEM (81619Q105) | 2,744 | $44,754.64 |
| 0.22% | DR Horton Inc | DHI (23331A109) | 295 | $36,813.05 |
| 0.22% | United Rentals Inc | URI (911363109) | 63 | $37,120.23 |
| 0.16% | Toll Brothers Inc | TOL (889478103) | 271 | $26,609.49 |
| 0.10% | Cargurus Inc | CARG (141788109) | 624 | $17,303.52 |
| 0.09% | Match Group Inc | MTCH (57667L107) | 522 | $15,472.08 |
| 0.07% | Fifth Third Bancorp | FITB (316773100) | 333 | $11,684.97 |
| 0.07% | Voya Financial Inc | VOYA (929089100) | 207 | $11,900.43 |
| 0.06% | First Citizens BancShares Inc/NC | FCNCA (31946M103) | 6 | $10,632.24 |
| 0.05% | IAC Inc | IAC (44891N208) | 252 | $8,610.84 |
| 0.05% | Pinterest Inc | PINS (72352L106) | 342 | $8,758.62 |
| 0.01% | Angi Inc | ANGI (00183L201) | 132 | $1,657.92 |
| 0.01% | Millrose Properties Inc | MRP (601137102) | 76 | $1,864.28 |
| -2.76% | Cash & Other | Cash&Other | $-463,770.26 |
The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Prior to January 21, 2025, the Fund was operated as a mutual fund, not as an ETF. The ETF has the same investment objective, strategy, restrictions, and portfolio managers as the mutual fund. The quoted NAV performance reflects mutual fund performance prior to the conversion date.
Investors should consider the investment objectives, risks, charges, and expenses carefully before investing. The Prospectus contains this and other information about the Fund. For the current Prospectus, call toll-free 1-866-306-8117. Please read the Prospectus carefully before you invest.
Market returns are based on the midpoint of the bid/ask spread at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times. The Adviser has voluntarily agreed to reimburse fees. This agreement may change or end at any time. Performance would have been lower without expense reimbursement in effect.
Risks of Investing in the Fund
Foreign and Emerging Markets Securities Risk: Investments in securities and instruments traded in developing or emerging markets or that provide exposure to such securities can involve additional risks relating to political, economic, or regulatory conditions not associated with investment in U.S. securities and instruments.
Market Risks: Common stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value as market confidence and perceptions of their issuers change.
Quantitative Investment Approach Risk: The Fund utilizes a quantitative investment approach. There may be market conditions where the quantitative investment approach performs poorly.
Sector Risk: The Fund’s investing approach may dictate an emphasis on certain sectors, industries, or sub-sectors of the market. The Fund may invest more heavily in one sector, industry, or sub-sector; or may lack exposure to one or more sectors, which may adversely affect performance.
Distributor: Quasar Distributors, LLC