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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 August 5, 2026
Star for Morningstar Rating Star for Morningstar Rating Star for Morningstar Rating Star for Morningstar Rating Star for Morningstar Rating

Morningstar Rating™ Overall among 365 Mid-Cap Blend funds as of 06.30.26 based on risk-adjusted returns.†

Fact Sheet
  • Fund Inception:
    June 19, 2000
  • Ticker:
    LST
  • Net Assets:
    $166,952,559
  • Shares Outstanding:
    3,506,875
  • 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:
    0.35%
  • Acquired Fund Fee & Expenses:
    0.00%
  • Expense Reimbursement:
    0.20%
  • Total Annual Fund Operating Expenses After Expense Reimbursement:
    0.65%
  • Portfolio Managers:
  • Number of Holdings:
    121

Fund Prices

as of August 5, 2026
NAV Price
Net Asset Value $47.61 Closing Price $47.62
Daily Change $0.01 Daily Change $-0.01
Daily Change 0.01% Daily Change -0.02%
    Premium/Discount 0.03%
Bid-Ask Spead (30 day median) 0.11%

Month End Performance

as of April 30, 2026
Avg. Annualized
1 YR. 3 YR. 5 YR. 10 YR. 15 YR. 20 YR. 25 YR. INCEPTION
Fund NAV 37.51% 20.66% 11.89% 13.58% 11.73% 9.26% 8.93% 9.63%
Closing Price 37.34% 20.67% 11.90% 13.58% 11.73% 9.26% 8.93% 9.64%
Cumulative
YTD 1 MO. 3 MO. 6 MO. INCEPTION
Fund NAV 10.44% 9.47% 6.59% 13.81% 979.36%
Closing Price 10.24% 9.42% 6.45% 13.62% 979.68%

Quarter End Performance

as of March 31, 2026
Avg. Annualized
1 YR. 3 YR. 5 YR. 10 YR. 15 YR. 20 YR. 25 YR. INCEPTION
Fund NAV 26.34% 17.42% 10.94% 12.38% 11.31% 8.81% 8.74% 9.28%
Closing Price 26.28% 17.44% 10.96% 12.39% 11.31% 8.82% 8.75% 9.29%
Cumulative
YTD 1 MO. 3 MO. 6 MO. INCEPTION
Fund NAV 0.88% -6.67% 0.88% 2.85% 885.99%
Closing Price 0.75% -6.67% 0.75% 2.83% 886.70%

Percentage of Net Assets Name Identifier (Cusip) Shares Held Market Value
2.20% Alphabet Inc GOOGL (02079K305) 10,115 $3,665,979.45
2.15% Dell Technologies Inc DELL (24703L202) 7,767 $3,593,790.90
1.94% Microsoft Corp MSFT (594918104) 6,634 $3,233,809.64
1.92% Cardinal Health Inc CAH (14149Y108) 13,387 $3,202,572.01
1.87% Cisco Systems Inc CSCO (17275R102) 25,673 $3,119,269.50
1.79% McKesson Corp MCK (58155Q103) 3,403 $2,985,213.69
1.71% Advanced Micro Devices Inc AMD (007903107) 5,935 $2,860,966.75
1.51% Flex Ltd FLEX (Y2573F102) 20,647 $2,516,456.36
1.49% Meta Platforms Inc META (30303M102) 4,220 $2,484,609.40
1.47% Citigroup Inc C (172967424) 17,855 $2,457,562.20
1.46% JPMORGAN CHASE & CO. JPM (46625H100) 6,787 $2,438,161.88
1.42% FedEx Corp FDX (31428X106) 7,606 $2,363,336.32
1.39% United Parcel Service Inc UPS (911312106) 21,503 $2,315,873.10
1.34% Jabil Inc JBL (466313103) 6,627 $2,244,034.74
1.30% Bank of America Corp BAC (060505104) 34,282 $2,168,336.50
1.25% Cencora Inc COR (03073E105) 6,594 $2,091,748.68
1.25% F5 Inc FFIV (315616102) 5,092 $2,094,441.44
1.23% Canadian Imperial Bank of Commerce CM (136069101) 17,290 $2,051,977.20
1.23% RenaissanceRe Holdings Ltd RNR (G7496G103) 6,368 $2,060,557.44
1.21% Everest Group Ltd EG (G3223R108) 5,405 $2,017,578.40
1.17% Kinross Gold Corp KGC (496902404) 75,904 $1,950,732.80
1.12% TE Connectivity PLC TEL (G87052109) 8,562 $1,866,687.24
1.11% Amgen Inc AMGN (031162100) 4,553 $1,856,849.99
1.11% Broadcom Inc AVGO (11135F101) 4,430 $1,852,980.40
1.11% ServiceNow Inc NOW (81762P102) 15,876 $1,860,984.72
1.10% Barclays PLC BCS (06738E204) 64,278 $1,829,351.88
1.06% Regeneron Pharmaceuticals Inc REGN (75886F107) 2,313 $1,777,725.54
1.05% Telefonaktiebolaget LM Ericsson ERIC (294821608) 173,611 $1,746,526.66
1.05% Johnson & Johnson JNJ (478160104) 6,774 $1,744,914.66
1.05% NVIDIA Corp NVDA (67066G104) 8,021 $1,758,363.62
1.03% Dycom Industries Inc DY (267475101) 4,226 $1,726,701.34
0.99% Tenet Healthcare Corp THC (88033G407) 6,329 $1,656,552.46
0.99% Vertex Pharmaceuticals Inc VRTX (92532F100) 3,394 $1,645,513.02
0.98% EMCOR Group Inc EME (29084Q100) 1,989 $1,635,276.24
0.98% Laureate Education Inc LAUR (518613203) 43,079 $1,639,155.95
0.96% Qualys Inc QLYS (74758T303) 8,702 $1,594,641.50
0.96% Sanmina Corp SANM (801056102) 8,061 $1,605,509.37
0.95% Reinsurance Group of America Inc RGA (759351604) 6,745 $1,594,383.10
0.94% Gilead Sciences Inc GILD (375558103) 11,927 $1,571,501.52
0.93% Plexus Corp PLXS (729132100) 5,627 $1,545,736.90
0.91% ELEVANCE HEALTH INC ELV (036752103) 3,868 $1,513,316.32
0.89% NetScout Systems Inc NTCT (64115T104) 36,359 $1,491,446.18
0.87% Paycom Software Inc PAYC (70432V102) 8,283 $1,447,868.40
0.86% Biogen Inc BIIB (09062X103) 6,918 $1,429,466.34
0.85% IAMGOLD Corp IAG (450913108) 89,219 $1,417,689.91
0.84% HCA Healthcare Inc HCA (40412C101) 3,433 $1,406,294.12
0.84% SLB Ltd SLB (806857108) 28,230 $1,408,959.30
0.83% Oceaneering International Inc OII (675232102) 28,818 $1,385,281.26
0.82% Bristol-Myers Squibb Co BMY (110122108) 21,630 $1,376,316.90
0.82% PNC Financial Services Group Inc/The PNC (693475105) 5,335 $1,362,398.95
0.81% Baker Hughes Co BKR (05722G100) 21,917 $1,351,621.39
0.81% HF Sinclair Corp DINO (403949100) 16,226 $1,346,433.48
0.81% Lam Research Corp LRCX (512807306) 4,413 $1,356,644.46
0.81% Merck & Co Inc MRK (58933Y105) 10,532 $1,351,571.56
0.81% Travelers Cos Inc/The TRV (89417E109) 3,531 $1,350,430.95
0.81% US Bancorp USB (902973304) 20,934 $1,344,172.14
0.78% Automatic Data Processing Inc ADP (053015103) 4,843 $1,308,045.87
0.78% GEN DIGITAL INC GEN (668771108) 46,351 $1,295,510.45
0.76% Covista Inc CVSA (00737L103) 9,906 $1,276,982.46
0.76% Expeditors International of Washington Inc EXPD (302130109) 7,022 $1,273,861.02
0.76% Paychex Inc PAYX (704326107) 10,726 $1,268,564.02
0.76% Universal Technical Institute Inc UTI (913915104) 29,952 $1,269,066.24
0.71% Valmont Industries Inc VMI (920253101) 2,394 $1,188,381.60
0.70% Check Point Software Technologies Ltd CHKP (M22465104) 9,280 $1,163,248.00
0.70% Pfizer Inc PFE (717081103) 45,451 $1,173,090.31
0.70% United Therapeutics Corp UTHR (91307C102) 2,247 $1,166,215.47
0.68% US BANK MMDA - USBGFS 9 09/01/2037 8AMMF0JA0 (8AMMF0JA0) 1,131,004 $1,131,004.08
0.68% Eldorado Gold Corp EGO (284902509) 31,306 $1,127,016.00
0.68% Granite Construction Inc GVA (387328107) 9,174 $1,131,429.42
0.67% Agnico Eagle Mines Ltd AEM (008474108) 6,734 $1,114,140.30
0.67% Assurant Inc AIZ (04621X108) 3,694 $1,113,999.58
0.67% Allstate Corp/The ALL (020002101) 4,240 $1,121,861.60
0.67% PBF Energy Inc PBF (69318G106) 18,169 $1,111,397.73
0.66% Benchmark Electronics Inc BHE (08160H101) 13,103 $1,101,438.18
0.66% Carnival Corp Ltd CCL (G2004J103) 36,902 $1,094,882.34
0.66% GSK PLC GSK (37733W204) 21,490 $1,105,875.40
0.65% Perdoceo Education Corp PRDO (71363P106) 32,874 $1,085,828.22
0.65% United Airlines Holdings Inc UAL (910047109) 8,182 $1,086,242.32
0.62% Hartford Insurance Group Inc/The HIG (416515104) 7,159 $1,028,032.40
0.61% CH Robinson Worldwide Inc CHRW (12541W209) 6,623 $1,017,292.80
0.61% Shell PLC SHEL (780259305) 11,519 $1,010,907.44
0.59% Primoris Services Corp PRIM (74164F103) 11,830 $986,622.00
0.58% Paylocity Holding Corp PCTY (70438V106) 6,500 $960,765.00
0.57% HealthEquity Inc HQY (42226A107) 9,178 $958,274.98
0.57% Pearson PLC PSO (705015105) 57,139 $953,078.52
0.57% Tenaris SA TS (88031M109) 16,697 $952,563.85
0.56% UiPath Inc PATH (90364P105) 67,530 $933,264.60
0.56% TriNet Group Inc TNET (896288107) 13,617 $930,994.29
0.55% CVS Health Corp CVS (126650100) 9,282 $920,031.84
0.54% Archrock Inc AROC (03957W106) 26,517 $899,721.81
0.52% Analog Devices Inc ADI (032654105) 2,320 $876,240.80
0.52% Progress Software Corp PRGS (743312100) 20,655 $872,673.75
0.50% Mercury General Corp MCY (589400100) 7,663 $839,941.43
0.48% NETGEAR Inc NTGR (64111Q104) 32,874 $801,468.12
0.48% Robert Half Inc RHI (770323103) 19,671 $797,659.05
0.47% CTS Corp CTS (126501105) 11,785 $787,002.30
0.47% Digi International Inc DGII (253798102) 10,722 $780,025.50
0.47% Markel Group Inc MKL (570535104) 422 $792,528.66
0.47% NOV Inc NOV (62955J103) 40,066 $781,287.00
0.47% SiriusPoint Ltd SPNT (G8192H106) 33,010 $779,366.10
0.46% Hub Group Inc HUBG (443320106) 16,176 $769,654.08
0.44% ENCOMPASS HEALTH CORP EHC (29261A100) 6,630 $735,267.00
0.44% Graham Holdings Co GHC (384637104) 601 $728,874.77
0.44% Weatherford International PLC WFRD (G48833118) 8,459 $738,090.05
0.43% Pan American Silver Corp PAAS (697900108) 14,739 $711,009.36
0.43% QUALCOMM Inc QCOM (747525103) 4,531 $713,768.43
0.42% Korn Ferry KFY (500643200) 8,307 $693,468.36
0.41% Equinox Gold Corp EQX (29446Y502) 65,980 $680,913.60
0.41% Hanover Insurance Group Inc/The THG (410867105) 3,015 $690,796.80
0.41% Universal Health Services Inc UHS (913903100) 3,962 $680,116.92
0.40% Urban Outfitters Inc URBN (917047102) 8,590 $669,075.10
0.38% GXO Logistics Inc GXO (36262G101) 13,341 $635,298.42
0.38% NXP Semiconductors NV NXPI (N6596X109) 2,712 $626,878.80
0.38% White Mountains Insurance Group Ltd WTM (G9618E107) 304 $642,020.64
0.33% Fedex Freight Holding Co Inc FDXF (314352105) 3,801 $543,657.03
0.32% Cirrus Logic Inc CRUS (172755100) 4,070 $526,739.40
0.32% Gap Inc/The GAP (364760108) 25,987 $534,552.59
0.31% OneSpan Inc OSPN (68287N100) 31,773 $517,899.90
0.30% Diodes Inc DIOD (254543101) 5,902 $505,152.18
0.30% GLOBALFOUNDRIES Inc GFS (G39387108) 9,991 $494,154.86
-0.01% Cash & Other Cash&Other $-21,853.43

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 5 stars among 365, 345, and 264 funds. ©2026 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 is 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