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:
$16,211,941 -
Shares Outstanding:
506,875 -
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 March 10, 2025| NAV | Price | ||
|---|---|---|---|
| Net Asset Value | $31.98 | Closing Price | $32.02 |
| Daily Change | $-0.95 | Daily Change | $-0.98 |
| Daily Change | -2.90% | Daily Change | -2.96% |
| Premium/Discount | 0.11% | ||
| Bid-Ask Spead (30 day median) | NA% |
Month End Performance
as of February 28, 2025Avg. Annualized
| 1 YR. | 3 YR. | 5 YR. | INCEPTION | |
|---|---|---|---|---|
| Fund NAV | 8.18% | 9.46% | 15.11% | 8.90% |
| Closing Price | 8.23% | 9.48% | 15.13% | 8.90% |
Cumulative
| YTD | 1 MO. | 3 MO. | 6 MO. | INCEPTION | |
|---|---|---|---|---|---|
| Fund NAV | 1.82% | -4.01% | -5.36% | 0.56% | 720.33% |
| Closing Price | 1.87% | -4.13% | -5.32% | 0.61% | 720.73% |
Quarter End Performance
as of December 31, 2024Avg. 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% |
All Holdings Top 10 Holdings
| Percentage of Net Assets | Name | Identifier (Cusip) | Shares Held | Market Value |
|---|---|---|---|---|
| 3.75% | Microsoft Corp | MSFT (594918104) | 1,601 | $608,636.16 |
| 3.48% | Meta Platforms Inc | META (30303M102) | 943 | $563,904.57 |
| 2.46% | Netflix Inc | NFLX (64110L106) | 460 | $398,672.80 |
| 2.20% | Alphabet Inc | GOOGL (02079K305) | 2,148 | $356,288.76 |
| 2.01% | McKesson Corp | MCK (58155Q103) | 494 | $325,466.96 |
| 2.01% | PulteGroup Inc | PHM (745867101) | 3,033 | $325,744.20 |
| 1.97% | Oracle Corp | ORCL (68389X105) | 2,148 | $319,600.92 |
| 1.92% | T-Mobile US Inc | TMUS (872590104) | 1,167 | $311,157.21 |
| 1.70% | Goldman Sachs Group Inc/The | GS (38141G104) | 518 | $275,399.88 |
| 1.65% | DR Horton Inc | DHI (23331A109) | 2,003 | $268,301.85 |
| 1.61% | United Rentals Inc | URI (911363109) | 436 | $261,491.00 |
| 1.59% | Mastercard Inc | MA (57636Q104) | 481 | $258,354.72 |
| 1.57% | Jabil Inc | JBL (466313103) | 1,908 | $254,431.80 |
| 1.53% | Cencora Inc | COR (03073E105) | 951 | $248,743.56 |
| 1.49% | Cardinal Health Inc | CAH (14149Y108) | 1,943 | $240,795.99 |
| 1.41% | JPMORGAN CHASE & CO. | JPM (46625H100) | 985 | $228,736.70 |
| 1.39% | Morgan Stanley | MS (617446448) | 2,015 | $225,055.35 |
| 1.35% | Visa Inc | V (92826C839) | 639 | $218,205.72 |
| 1.31% | Check Point Software Technologies Ltd | CHKP (M22465104) | 945 | $212,880.15 |
| 1.28% | Flex Ltd | FLEX (Y2573F102) | 6,303 | $207,494.76 |
| 1.26% | AT&T Inc | T (00206R102) | 7,501 | $204,627.28 |
| 1.25% | Kinross Gold Corp | KGC (496902404) | 19,253 | $203,311.68 |
| 1.22% | Bank of America Corp | BAC (060505104) | 4,976 | $198,194.08 |
| 1.21% | Toll Brothers Inc | TOL (889478103) | 1,841 | $196,692.44 |
| 1.18% | US BANK MMDA - USBGFS 9 09/01/2037 | 8AMMF0JA0 (8AMMF0JA0) | 191,360 | $191,359.60 |
| 1.17% | Fortinet Inc | FTNT (34959E109) | 1,967 | $188,910.68 |
| 1.17% | TJX Cos Inc/The | TJX (872540109) | 1,609 | $189,234.49 |
| 1.13% | TE Connectivity PLC | TEL (G87052109) | 1,235 | $182,841.75 |
| 1.07% | Citigroup Inc | C (172967424) | 2,585 | $174,254.85 |
| 1.06% | Deutsche Bank AG | DB (D18190898) | 7,367 | $171,061.74 |
| 1.05% | Walt Disney Co/The | DIS (254687106) | 1,654 | $170,494.32 |
| 1.03% | Delta Air Lines Inc | DAL (247361702) | 3,328 | $167,498.24 |
| 1.03% | HCA Healthcare Inc | HCA (40412C101) | 498 | $167,407.68 |
| 1.01% | Cisco Systems Inc | CSCO (17275R102) | 2,641 | $163,900.46 |
| 0.93% | VeriSign Inc | VRSN (92343E102) | 628 | $150,104.56 |
| 0.89% | Agnico Eagle Mines Ltd | AEM (008474108) | 1,492 | $144,768.76 |
| 0.88% | Stride Inc | LRN (86333M108) | 1,178 | $142,219.94 |
| 0.86% | Canadian Imperial Bank of Commerce | CM (136069101) | 2,510 | $139,631.30 |
| 0.85% | Barclays PLC | BCS (06738E204) | 9,331 | $138,005.49 |
| 0.83% | M&T Bank Corp | MTB (55261F104) | 772 | $134,135.00 |
| 0.82% | IAMGOLD Corp | IAG (450913108) | 26,079 | $133,263.69 |
| 0.81% | Cargurus Inc | CARG (141788109) | 4,230 | $130,622.40 |
| 0.81% | United Airlines Holdings Inc | UAL (910047109) | 1,688 | $131,022.56 |
| 0.80% | Adtalem Global Education Inc | ATGE (00737L103) | 1,437 | $129,157.56 |
| 0.80% | Ross Stores Inc | ROST (778296103) | 986 | $130,270.32 |
| 0.80% | Travelers Cos Inc/The | TRV (89417E109) | 506 | $129,844.66 |
| 0.75% | Allstate Corp/The | ALL (020002101) | 608 | $120,833.92 |
| 0.75% | Hartford Insurance Group Inc/The | HIG (416515104) | 1,033 | $121,222.55 |
| 0.74% | GoDaddy Inc | GDDY (380237107) | 698 | $120,349.16 |
| 0.74% | Huntington Bancshares Inc/OH | HBAN (446150104) | 8,192 | $119,930.88 |
| 0.74% | Laureate Education Inc | LAUR (518613203) | 6,254 | $119,826.64 |
| 0.73% | Nokia Oyj | NOK (654902204) | 23,069 | $118,574.66 |
| 0.72% | Akamai Technologies Inc | AKAM (00971T101) | 1,393 | $117,220.95 |
| 0.72% | Tenet Healthcare Corp | THC (88033G407) | 919 | $115,931.85 |
| 0.71% | Citizens Financial Group Inc | CFG (174610105) | 2,889 | $115,011.09 |
| 0.71% | Twilio Inc | TWLO (90138F102) | 1,165 | $114,834.05 |
| 0.70% | Match Group Inc | MTCH (57667L107) | 3,538 | $113,322.14 |
| 0.69% | Universal Technical Institute Inc | UTI (913915104) | 4,347 | $111,196.26 |
| 0.68% | Assurant Inc | AIZ (04621X108) | 536 | $110,040.80 |
| 0.67% | Arista Networks Inc | ANET (040413205) | 1,406 | $109,049.36 |
| 0.66% | Telefonaktiebolaget LM Ericsson | ERIC (294821608) | 12,675 | $106,596.75 |
| 0.66% | F5 Inc | FFIV (315616102) | 402 | $107,133.00 |
| 0.66% | Okta Inc | OKTA (679295105) | 1,010 | $106,241.90 |
| 0.65% | American Airlines Group Inc | AAL (02376R102) | 8,453 | $105,662.50 |
| 0.65% | Raymond James Financial Inc | RJF (754730109) | 762 | $104,866.44 |
| 0.62% | Equinox Gold Corp | EQX (29446Y502) | 16,103 | $100,804.78 |
| 0.62% | Strategic Education Inc | STRA (86272C103) | 1,224 | $100,820.88 |
| 0.62% | Universal Health Services Inc | UHS (913903100) | 575 | $100,366.25 |
| 0.61% | PayPal Holdings Inc | PYPL (70450Y103) | 1,458 | $99,377.28 |
| 0.61% | Urban Outfitters Inc | URBN (917047102) | 1,824 | $99,681.60 |
| 0.60% | Markel Group Inc | MKL (570535104) | 53 | $97,297.40 |
| 0.60% | Verizon Communications Inc | VZ (92343V104) | 2,086 | $96,978.14 |
| 0.59% | Arch Capital Group Ltd | ACGL (G0450A105) | 1,050 | $95,256.00 |
| 0.59% | Voya Financial Inc | VOYA (929089100) | 1,403 | $95,712.66 |
| 0.58% | ENCOMPASS HEALTH CORP | EHC (29261A100) | 955 | $94,650.05 |
| 0.58% | Qualys Inc | QLYS (74758T303) | 747 | $93,584.16 |
| 0.57% | Pan American Silver Corp | PAAS (697900108) | 3,936 | $92,063.04 |
| 0.56% | Expedia Group Inc | EXPE (30212P303) | 516 | $91,125.60 |
| 0.55% | Fifth Third Bancorp | FITB (316773100) | 2,254 | $88,537.12 |
| 0.55% | Old National Bancorp/IN | ONB (680033107) | 4,472 | $89,931.92 |
| 0.54% | Life Time Group Holdings Inc | LTH (53190C102) | 3,147 | $87,171.90 |
| 0.53% | DigitalOcean Holdings Inc | DOCN (25402D102) | 2,340 | $86,463.00 |
| 0.53% | Gap Inc/The | GAP (364760108) | 3,844 | $85,951.84 |
| 0.53% | Travel + Leisure Co | TNL (894164102) | 1,684 | $85,934.52 |
| 0.52% | Columbia Banking System Inc | COLB (197236102) | 3,471 | $85,074.21 |
| 0.52% | United Parks & Resorts Inc | PRKS (81282V100) | 1,722 | $84,360.78 |
| 0.52% | Virtu Financial Inc | VIRT (928254101) | 2,385 | $83,713.50 |
| 0.49% | First Citizens BancShares Inc/NC | FCNCA (31946M103) | 46 | $79,660.04 |
| 0.48% | Copa Holdings SA | CPA (P31076105) | 834 | $77,094.96 |
| 0.48% | Eldorado Gold Corp | EGO (284902509) | 5,454 | $78,264.90 |
| 0.46% | Addus HomeCare Corp | ADUS (006739106) | 794 | $75,247.38 |
| 0.46% | Global Payments Inc | GPN (37940X102) | 768 | $74,549.76 |
| 0.46% | Hyatt Hotels Corp | H (448579102) | 578 | $74,972.38 |
| 0.46% | IAC Inc | IAC (44891N208) | 1,712 | $75,259.52 |
| 0.46% | Pinterest Inc | PINS (72352L106) | 2,330 | $73,977.50 |
| 0.44% | Cadence Bank | CADE (12740C103) | 2,454 | $71,411.40 |
| 0.44% | Royal Caribbean Cruises Ltd | RCL (V7780T103) | 343 | $71,079.89 |
| 0.44% | SkyWest Inc | SKYW (830879102) | 880 | $71,684.80 |
| 0.44% | Synchrony Financial | SYF (87165B103) | 1,369 | $71,598.70 |
| 0.44% | Hanover Insurance Group Inc/The | THG (410867105) | 437 | $71,462.61 |
| 0.43% | White Mountains Insurance Group Ltd | WTM (G9618E107) | 37 | $69,992.53 |
| 0.42% | Bread Financial Holdings Inc | BFH (018581108) | 1,476 | $68,648.76 |
| 0.42% | Carnival Corp | CCL (143658300) | 3,546 | $67,657.68 |
| 0.42% | Kemper Corp | KMPR (488401100) | 1,046 | $67,822.64 |
| 0.42% | Sun Country Airlines Holdings Inc | SNCY (866683105) | 5,039 | $67,623.38 |
| 0.41% | TripAdvisor Inc | TRIP (896945201) | 5,023 | $66,856.13 |
| 0.40% | Wix.com Ltd | WIX (M98068105) | 381 | $64,922.40 |
| 0.39% | Norwegian Cruise Line Holdings Ltd | NCLH (G66721104) | 3,410 | $63,903.40 |
| 0.33% | Block Inc | XYZ (852234103) | 984 | $53,864.16 |
| 0.27% | Digi International Inc | DGII (253798102) | 1,556 | $43,536.88 |
| 0.26% | Concentra Group Holdings Parent Inc | CON (20603L102) | 1,931 | $41,709.60 |
| 0.26% | Select Medical Holdings Corp | SEM (81619Q105) | 2,393 | $41,638.20 |
| 0.07% | Millrose Properties Inc | MRP (601137102) | 513 | $11,091.06 |
| 0.07% | Cash & Other | Cash&Other | $11,245.40 |
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