Skip to content
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 May 30, 2025

Morningstar Rating™ Overall among 379 Mid-Cap Blend funds as of 03.31.25 based on risk-adjusted returns.†

Fact Sheet
  • Fund Inception:
    June 19, 2000
  • Ticker:
    LST
  • Net Assets:
    $19,456,061
  • Shares Outstanding:
    556,875
  • 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:
    0.41%
  • Acquired Fund Fee & Expenses:
    0.00%
  • Expense Reimbursement:
    0.26%
  • Total Annual Fund Operating Expenses After Expense Reimbursement:
    0.65%
  • Portfolio Managers:
  • Number of Holdings:
    112

Fund Prices

as of May 30, 2025
NAV Price
Net Asset Value $34.94 Closing Price $34.98
Daily Change $0.14 Daily Change $0.19
Daily Change 0.40% Daily Change 0.53%
    Premium/Discount 0.11%
Bid-Ask Spead (30 day median) 0.21%

Month End Performance

as of April 30, 2025
Avg. Annualized
1 YR. 3 YR. 5 YR. INCEPTION
Fund NAV 6.58% 9.87% 15.46% 8.64%
Closing Price 6.75% 9.93% 15.50% 8.65%
Cumulative
YTD 1 MO. 3 MO. 6 MO. INCEPTION
Fund NAV -2.58% 0.58% -8.15% -2.98% 684.92%
Closing Price -2.43% 0.61% -8.17% -2.83% 686.14%

Quarter End Performance

as of March 31, 2025
Avg. 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%

Percentage of Net Assets Name Identifier (Cusip) Shares Held Market Value
4.17% Microsoft Corp MSFT (594918104) 1,761 $810,693.96
3.45% Meta Platforms Inc META (30303M102) 1,037 $671,447.13
3.13% Netflix Inc NFLX (64110L106) 505 $609,651.15
2.09% Alphabet Inc GOOGL (02079K305) 2,363 $405,821.62
2.01% McKesson Corp MCK (58155Q103) 543 $390,308.40
2.01% Oracle Corp ORCL (68389X105) 2,363 $391,147.39
1.81% Jabil Inc JBL (466313103) 2,099 $352,652.99
1.76% Goldman Sachs Group Inc/The GS (38141G104) 570 $342,256.50
1.70% Cardinal Health Inc CAH (14149Y108) 2,136 $329,883.84
1.61% Kinross Gold Corp KGC (496902404) 21,178 $312,375.50
1.60% T-Mobile US Inc TMUS (872590104) 1,283 $310,742.60
1.59% Mastercard Inc MA (57636Q104) 529 $309,782.40
1.56% Cencora Inc COR (03073E105) 1,045 $304,345.80
1.51% Flex Ltd FLEX (Y2573F102) 6,934 $293,308.20
1.47% JPMORGAN CHASE & CO. JPM (46625H100) 1,083 $285,912.00
1.46% Morgan Stanley MS (617446448) 2,216 $283,714.48
1.32% Visa Inc V (92826C839) 702 $256,363.38
1.24% Bank of America Corp BAC (060505104) 5,473 $241,523.49
1.23% US BANK MMDA - USBGFS 9 09/01/2037 8AMMF0JA0 (8AMMF0JA0) 238,772 $238,771.93
1.22% Check Point Software Technologies Ltd CHKP (M22465104) 1,039 $237,806.32
1.18% AT&T Inc T (00206R102) 8,251 $229,377.80
1.16% Deutsche Bank AG DB (D18190898) 8,103 $225,101.34
1.13% Fortinet Inc FTNT (34959E109) 2,164 $220,251.92
1.12% TE Connectivity PLC TEL (G87052109) 1,358 $217,375.06
1.10% Citigroup Inc C (172967424) 2,843 $214,134.76
1.07% Adtalem Global Education Inc ATGE (00737L103) 1,580 $208,607.40
1.07% HCA Healthcare Inc HCA (40412C101) 547 $208,620.33
1.06% Walt Disney Co/The DIS (254687106) 1,819 $205,619.76
1.01% IAMGOLD Corp IAG (450913108) 28,688 $196,799.68
1.01% Stride Inc LRN (86333M108) 1,296 $196,201.44
1.00% Agnico Eagle Mines Ltd AEM (008474108) 1,641 $193,621.59
1.00% UGI Corp UGI (902681105) 5,397 $194,615.82
0.97% SS&C Technologies Holdings Inc SSNC (78467J100) 2,342 $188,671.52
0.97% VeriSign Inc VRSN (92343E102) 691 $188,276.77
0.96% Canadian Imperial Bank of Commerce CM (136069101) 2,760 $187,514.40
0.94% Barclays PLC BCS (06738E204) 10,264 $183,007.12
0.94% Cisco Systems Inc CSCO (17275R102) 2,905 $183,131.20
0.93% MDU Resources Group Inc MDU (552690109) 10,543 $181,234.17
0.90% ONE Gas Inc OGS (68235P108) 2,345 $175,312.20
0.89% Spire Inc SR (84857L101) 2,313 $174,122.64
0.88% Concentrix Corp CNXC (20602D101) 3,057 $171,085.01
0.88% Tenet Healthcare Corp THC (88033G407) 1,010 $170,457.70
0.87% Universal Technical Institute Inc UTI (913915104) 4,782 $169,904.46
0.85% New Jersey Resources Corp NJR (646025106) 3,594 $164,928.66
0.84% Genpact Ltd G (G3922B107) 3,791 $163,202.55
0.81% CSG Systems International Inc CSGS (126349109) 2,375 $156,892.50
0.80% Dycom Industries Inc DY (267475101) 674 $154,966.08
0.80% Laureate Education Inc LAUR (518613203) 6,879 $154,777.50
0.79% M&T Bank Corp MTB (55261F104) 850 $154,096.50
0.79% Travelers Cos Inc/The TRV (89417E109) 555 $153,013.50
0.78% Maximus Inc MMS (577933104) 2,081 $150,893.31
0.78% Twilio Inc TWLO (90138F102) 1,282 $150,891.40
0.75% Hartford Insurance Group Inc/The HIG (416515104) 1,135 $146,778.20
0.75% PNC Financial Services Group Inc/The PNC (693475105) 843 $146,521.83
0.75% US Bancorp USB (902973304) 3,343 $145,721.37
0.72% Allstate Corp/The ALL (020002101) 669 $140,403.03
0.72% GoDaddy Inc GDDY (380237107) 767 $139,709.05
0.72% Huntington Bancshares Inc/OH HBAN (446150104) 9,011 $140,841.93
0.71% ADT Inc ADT (00090Q103) 16,605 $138,153.60
0.70% Primoris Services Corp PRIM (74164F103) 1,881 $135,638.91
0.68% Nokia Oyj NOK (654902204) 25,377 $132,467.94
0.67% Comcast Corp CMCSA (20030N101) 3,755 $129,810.35
0.66% Citizens Financial Group Inc CFG (174610105) 3,177 $128,191.95
0.66% WNS Holdings Ltd WNS (G98196101) 2,225 $129,027.75
0.65% ENCOMPASS HEALTH CORP EHC (29261A100) 1,051 $127,065.90
0.65% F5 Inc FFIV (315616102) 441 $125,852.58
0.63% Raymond James Financial Inc RJF (754730109) 837 $123,022.26
0.63% Strategic Education Inc STRA (86272C103) 1,346 $122,795.58
0.62% Eldorado Gold Corp EGO (284902509) 5,999 $120,519.91
0.62% Universal Health Services Inc UHS (913903100) 632 $120,174.80
0.61% Assurant Inc AIZ (04621X108) 589 $119,555.22
0.61% Telefonaktiebolaget LM Ericsson ERIC (294821608) 13,942 $117,949.32
0.61% Frontdoor Inc FTDR (35905A109) 2,175 $119,646.75
0.61% Perdoceo Education Corp PRDO (71363P106) 3,492 $118,867.68
0.61% Valmont Industries Inc VMI (920253101) 374 $118,946.96
0.60% Akamai Technologies Inc AKAM (00971T101) 1,532 $116,324.76
0.60% Equinox Gold Corp EQX (29446Y502) 17,714 $117,443.82
0.59% Okta Inc OKTA (679295105) 1,111 $114,621.87
0.58% Markel Group Inc MKL (570535104) 58 $112,618.60
0.58% PayPal Holdings Inc PYPL (70450Y103) 1,603 $112,658.84
0.58% Qualys Inc QLYS (74758T303) 821 $113,749.55
0.56% Arch Capital Group Ltd ACGL (G0450A105) 1,154 $109,676.16
0.56% Merck & Co Inc MRK (58933Y105) 1,426 $109,573.84
0.54% Pan American Silver Corp PAAS (697900108) 4,329 $105,584.31
0.53% Old National Bancorp/IN ONB (680033107) 4,919 $102,610.34
0.52% Charter Communications Inc CHTR (16119P108) 254 $100,652.58
0.52% Virtu Financial Inc VIRT (928254101) 2,506 $100,716.14
0.52% Verizon Communications Inc VZ (92343V104) 2,295 $100,888.20
0.51% Life Time Group Holdings Inc LTH (53190C102) 3,462 $99,013.20
0.50% Royal Caribbean Cruises Ltd RCL (V7780T103) 376 $96,620.72
0.49% Expedia Group Inc EXPE (30212P303) 567 $94,547.25
0.47% Carnival Corp CCL (143658300) 3,901 $90,581.22
0.47% Graham Holdings Co GHC (384637104) 95 $90,668.95
0.46% Columbia Banking System Inc COLB (197236102) 3,818 $89,264.84
0.46% Travel + Leisure Co TNL (894164102) 1,853 $90,000.21
0.45% Pearson PLC PSO (705015105) 5,490 $87,565.50
0.44% United Parks & Resorts Inc PRKS (81282V100) 1,895 $84,877.05
0.43% Hyatt Hotels Corp H (448579102) 636 $83,971.08
0.43% Hanover Insurance Group Inc/The THG (410867105) 480 $84,470.40
0.42% Cadence Bank CADE (12740C103) 2,699 $81,779.70
0.38% Kemper Corp KMPR (488401100) 1,150 $73,289.50
0.38% White Mountains Insurance Group Ltd WTM (G9618E107) 41 $73,176.80
0.37% DigitalOcean Holdings Inc DOCN (25402D102) 2,573 $72,815.90
0.36% Jazz Pharmaceuticals PLC JAZZ (G50871105) 648 $70,029.36
0.34% Norwegian Cruise Line Holdings Ltd NCLH (G66721104) 3,751 $66,205.15
0.34% Block Inc XYZ (852234103) 1,082 $66,813.50
0.33% Global Payments Inc GPN (37940X102) 844 $63,814.84
0.32% Wix.com Ltd WIX (M98068105) 418 $62,261.10
0.29% Digi International Inc DGII (253798102) 1,711 $55,453.51
0.24% Concentra Group Holdings Parent Inc CON (20603L102) 2,124 $45,942.12
0.21% Select Medical Holdings Corp SEM (81619Q105) 2,633 $40,258.57
0.11% Cash & Other Cash&Other $21,987.54

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.

† Morningstar Rating™ or “star rating”: For funds with at least a 3-year history, a risk-adjusted-return measure is calculated to account for variation in monthly performance, placing more emphasis on downward variations and rewarding consistency. The top 10% of funds in each category receive 5 stars, next 22.5%=4 stars, next 35%=3 stars, next 22.5%=2 stars, and bottom 10%=1 star. The “Overall” Rating is derived from a weighted average of the 3-, 5-, and 10-year ratings (if applicable). Within the Mid-Cap Blend category, for the 3-, 5-, and 10-year periods, LST is rated 4, 5, and 4 stars, among 379, 349, and 241 funds. ©2025 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Leuthold Funds’ adviser pays a license fee for the use of Morningstar Ratings.™

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