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LST
Leuthold Select Industries ETF
Long-Only Equity (U.S. traded; industry-group rotation & sector concentrations)

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

As of February 4, 2025
Fact Sheet
  • Fund Inception:
    June 19, 2000
  • Ticker:
    LST
  • Net Assets:
    $13,544,654
  • Shares Outstanding:
    381,875
  • 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:
    114

Fund Prices

as of February 4, 2025
NAV Price
Net Asset Value $35.47 Closing Price $35.54
Daily Change $0.18 Daily Change $0.17
Daily Change 0.51% Daily Change 0.48%
    Premium/Discount 0.21%
Bid-Ask Spead (30 day median) 0.31%

Month End Performance

as of January 31, 2025
Avg. Annualized
1 YR. 3 YR. 5 YR. INCEPTION
Fund NAV 17.91% 10.37% 14.29% 9.11%
Closing Price 18.11% 10.43% 14.33% 9.11%
Cumulative
YTD 1 MO. 3 MO. 6 MO. INCEPTION
Fund NAV 6.06% 6.06% 5.63% 5.92% 754.56%
Closing Price 6.25% 6.25% 5.81% 6.11% 756.07%

Quarter End Performance

as of December 31, 2024
Avg. Annualized
1 YR. 3 YR. 5 YR. 10 YR. 15 YR. 20 YR. INCEPTION
Fund NAV 13.21% 6.22% 12.67% 9.92% 10.51% 9.27% 8.88%
Closing Price 13.21% 6.22% 12.67% 9.92% 10.51% 9.27% 8.88%
Cumulative
YTD 1 MO. 3 MO. 6 MO. INCEPTION
Fund NAV 13.21% -7.05% -2.48% 4.83% 705.71%
Closing Price 13.21% -7.05% -2.48% 4.83% 705.71%

Percentage of Net Assets Name Identifier (Cusip) Shares Held Market Value
3.69% Meta Platforms Inc META (30303M102) 709 $499,270.71
3.67% Microsoft Corp MSFT (594918104) 1,204 $496,493.48
2.54% Netflix Inc NFLX (64110L106) 346 $344,225.02
2.46% Alphabet Inc GOOGL (02079K305) 1,616 $333,510.08
2.00% Oracle Corp ORCL (68389X105) 1,616 $271,310.24
1.86% PulteGroup Inc PHM (745867101) 2,283 $251,997.54
1.83% Goldman Sachs Group Inc/The GS (38141G104) 390 $247,330.20
1.82% United Rentals Inc URI (911363109) 328 $247,144.72
1.71% Jabil Inc JBL (466313103) 1,435 $232,226.05
1.65% McKesson Corp MCK (58155Q103) 371 $223,831.72
1.56% DR Horton Inc DHI (23331A109) 1,507 $210,618.32
1.54% T-Mobile US Inc TMUS (872590104) 878 $208,305.50
1.53% Morgan Stanley MS (617446448) 1,516 $207,343.32
1.53% Reinsurance Group of America Inc RGA (759351604) 917 $207,893.07
1.49% Mastercard Inc MA (57636Q104) 362 $202,397.82
1.47% Flex Ltd FLEX (Y2573F102) 4,744 $198,868.48
1.47% JPMORGAN CHASE & CO. JPM (46625H100) 741 $198,543.54
1.37% Toll Brothers Inc TOL (889478103) 1,385 $185,409.95
1.35% Cardinal Health Inc CAH (14149Y108) 1,462 $182,998.54
1.33% Cencora Inc COR (03073E105) 715 $179,872.55
1.29% Bank of America Corp BAC (060505104) 3,745 $174,928.95
1.28% Delta Air Lines Inc DAL (247361702) 2,504 $172,926.24
1.23% Kinross Gold Corp KGC (496902404) 14,491 $166,211.77
1.22% Visa Inc V (92826C839) 480 $165,672.00
1.13% Citigroup Inc C (172967424) 1,945 $152,643.60
1.12% Fortinet Inc FTNT (34959E109) 1,480 $152,114.40
1.12% TJX Cos Inc/The TJX (872540109) 1,211 $151,544.54
1.11% Check Point Software Technologies Ltd CHKP (M22465104) 711 $150,916.86
1.11% RenaissanceRe Holdings Ltd RNR (G7496G103) 646 $150,136.86
1.04% Walt Disney Co/The DIS (254687106) 1,245 $141,058.50
1.01% Berkshire Hathaway Inc BRK/B (084670702) 292 $136,507.08
1.01% AT&T Inc T (00206R102) 5,645 $136,891.25
0.99% TE Connectivity PLC TEL (G87052109) 929 $134,491.33
0.92% Cargurus Inc CARG (141788109) 3,184 $124,398.88
0.92% HCA Healthcare Inc HCA (40412C101) 374 $125,215.20
0.92% IAMGOLD Corp IAG (450913108) 19,629 $125,036.73
0.91% FIDELITY INV MMKT GOVT-I 12/31/2031 FIGXX (316175108) 123,800 $123,800.30
0.90% Cisco Systems Inc CSCO (17275R102) 1,988 $121,943.92
0.88% Arista Networks Inc ANET (040413205) 1,058 $118,834.56
0.86% Canadian Imperial Bank of Commerce CM (136069101) 1,888 $116,376.32
0.86% Everest Group Ltd EG (G3223R108) 341 $116,526.52
0.85% M&T Bank Corp MTB (55261F104) 581 $114,985.71
0.84% Chubb Ltd CB (H1467J104) 420 $114,336.60
0.81% Ross Stores Inc ROST (778296103) 742 $109,036.90
0.79% Agnico Eagle Mines Ltd AEM (008474108) 1,123 $107,347.57
0.77% Deutsche Bank AG DB (D18190898) 5,544 $104,670.72
0.77% Huntington Bancshares Inc/OH HBAN (446150104) 6,165 $104,003.55
0.76% Barclays PLC BCS (06738E204) 7,023 $102,886.95
0.76% Citizens Financial Group Inc CFG (174610105) 2,174 $102,264.96
0.75% Caterpillar Inc CAT (149123101) 282 $102,069.90
0.74% Allison Transmission Holdings Inc ALSN (01973R101) 875 $100,222.50
0.73% Tenet Healthcare Corp THC (88033G407) 691 $99,303.61
0.72% Match Group Inc MTCH (57667L107) 2,663 $97,119.61
0.72% Sumitomo Mitsui Financial Group Inc SMFG (86562M209) 6,596 $97,752.72
0.71% PACCAR Inc PCAR (693718108) 885 $96,004.80
0.70% Raymond James Financial Inc RJF (754730109) 573 $94,361.64
0.68% Travelers Cos Inc/The TRV (89417E109) 380 $92,742.80
0.67% F5 Inc FFIV (315616102) 302 $90,533.56
0.66% H&R Block Inc HRB (093671105) 1,644 $89,482.92
0.65% Stride Inc LRN (86333M108) 646 $88,230.68
0.64% Allstate Corp/The ALL (020002101) 457 $87,227.59
0.64% Hartford Financial Services Group Inc/The HIG (416515104) 776 $86,888.72
0.64% Twilio Inc TWLO (90138F102) 598 $87,260.16
0.63% Assurant Inc AIZ (04621X108) 403 $85,516.60
0.63% PayPal Holdings Inc PYPL (70450Y103) 1,097 $85,264.33
0.61% Nokia Oyj NOK (654902204) 17,363 $81,953.36
0.61% Universal Health Services Inc UHS (913903100) 432 $83,220.48
0.60% Adtalem Global Education Inc ATGE (00737L103) 760 $81,776.00
0.60% Leidos Holdings Inc LDOS (525327102) 573 $81,343.08
0.59% Equinox Gold Corp EQX (29446Y502) 12,120 $80,113.20
0.59% Old National Bancorp/IN ONB (680033107) 3,366 $80,279.10
0.59% Qualys Inc QLYS (74758T303) 561 $80,464.23
0.56% Markel Group Inc MKL (570535104) 41 $75,367.02
0.56% Urban Outfitters Inc URBN (917047102) 1,372 $75,830.44
0.54% Arch Capital Group Ltd ACGL (G0450A105) 790 $73,288.30
0.54% Columbia Banking System Inc COLB (197236102) 2,613 $73,268.52
0.54% ENCOMPASS HEALTH CORP EHC (29261A100) 719 $72,734.04
0.53% Carnival Corp CCL (143658300) 2,669 $72,303.21
0.53% DigitalOcean Holdings Inc DOCN (25402D102) 1,761 $71,884.02
0.53% Telefonaktiebolaget LM Ericsson ERIC (294821608) 9,540 $71,740.80
0.53% Life Time Group Holdings Inc LTH (53190C102) 2,369 $72,372.95
0.53% Norwegian Cruise Line Holdings Ltd NCLH (G66721104) 2,566 $71,565.74
0.53% Okta Inc OKTA (679295105) 760 $71,751.60
0.53% Pan American Silver Corp PAAS (697900108) 2,962 $71,680.40
0.53% Virtu Financial Inc VIRT (928254101) 1,795 $71,961.55
0.52% Akamai Technologies Inc AKAM (00971T101) 708 $70,707.96
0.52% Abercrombie & Fitch Co ANF (002896207) 614 $70,487.20
0.52% Travel + Leisure Co TNL (894164102) 1,267 $69,799.03
0.52% VeriSign Inc VRSN (92343E102) 325 $71,012.50
0.51% GoDaddy Inc GDDY (380237107) 329 $69,231.47
0.51% Hyatt Hotels Corp H (448579102) 435 $68,625.60
0.51% United Parks & Resorts Inc PRKS (81282V100) 1,296 $68,441.76
0.49% Gap Inc/The GAP (364760108) 2,893 $65,786.82
0.48% Cadence Bank CADE (12740C103) 1,846 $64,573.08
0.48% Expedia Group Inc EXPE (30212P303) 388 $65,366.36
0.48% Wix.com Ltd WIX (M98068105) 286 $65,042.12
0.47% Eldorado Gold Corp EGO (284902509) 4,104 $63,735.12
0.47% Fidelity National Information Services Inc FIS (31620M106) 773 $63,022.69
0.47% Global Payments Inc GPN (37940X102) 578 $63,608.90
0.47% Block Inc XYZ (852234103) 740 $63,765.80
0.46% Verizon Communications Inc VZ (92343V104) 1,570 $62,501.70
0.43% Science Applications International Corp SAIC (808625107) 539 $58,152.71
0.42% CACI International Inc CACI (127190304) 146 $56,408.56
0.42% Copa Holdings SA CPA (P31076105) 628 $57,104.04
0.41% Cummins Inc CMI (231021106) 154 $55,980.54
0.41% IAC Inc IAC (44891N208) 1,288 $55,757.52
0.38% White Mountains Insurance Group Ltd WTM (G9618E107) 27 $51,459.03
0.36% KBR Inc KBR (48242W106) 914 $48,533.40
0.33% Harmonic Inc HLIT (413160102) 3,966 $44,379.54
0.31% Terex Corp TEX (880779103) 892 $42,254.04
0.27% Select Medical Holdings Corp SEM (81619Q105) 1,801 $36,362.19
0.25% Concentra Group Holdings Parent Inc CON (20603L102) 1,453 $34,145.50
0.03% Millrose Properties Inc MRP-W (601137102) 393 $4,346.58
-0.06% Cash & Other Cash&Other $-8,350.32

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 the mutual performance prior to the conversion date.

Investors should consider the investment objectives, risks, charges and expenses carefully before investing. An investment in the funds involves risk, including possible loss of principal. The Prospectus contains this and other information about the Fund. For a current Prospectus, call toll-free 1-866-306-8117. Please read the Prospectus carefully before you invest. Investing involves risk, including the possibility of loss of principal.

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