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:
$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, 2025Avg. 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, 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 |
|---|---|---|---|---|
| 3.69% | 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