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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 October 26, 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:
    $208,961,366
  • Shares Outstanding:
    4,331,875
  • 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:
    120

Fund Prices

as of October 26, 2026
NAV Price
Net Asset Value $48.24 Closing Price $48.19
Daily Change $0.17 Daily Change $0.14
Daily Change 0.36% Daily Change 0.29%
    Premium/Discount -0.1%
Bid-Ask Spead (30 day median) 0.08%

Month/Quarter End Performance

as of September 30, 2026
Avg. Annualized
1 YR. 3 YR. 5 YR. 10 YR. 15 YR. 20 YR. 25 YR. INCEPTION
Fund NAV 18.91% 21.71% 13.05% 13.92% 14.34% 9.83% 10.24% 9.70%
Closing Price 18.80% 21.71% 13.05% 13.92% 14.34% 9.83% 10.24% 9.70%
Cumulative
YTD 1 MO. 3 MO. 6 MO. INCEPTION
Fund NAV 16.64% -2.68% -0.06% 15.62% 1,039.98%
Closing Price 16.40% -2.76% 0.01% 15.53% 1,039.97%

as of October 26, 2026
Percentage of Net Assets Name Identifier (Cusip) Shares Held Market Value
2.14% Dell Technologies Inc DELL (24703L202) 9,637 $4,501,346.33
2.09% Microsoft Corp MSFT (594918104) 8,232 $4,384,363.20
1.99% Cardinal Health Inc CAH (14149Y108) 16,617 $4,179,840.18
1.99% McKesson Corp MCK (58155Q103) 4,219 $4,188,918.53
1.89% Alphabet Inc GOOGL (02079K305) 12,563 $3,979,958.40
1.86% Advanced Micro Devices Inc AMD (007903107) 7,363 $3,911,814.64
1.67% Cisco Systems Inc CSCO (17275R102) 31,895 $3,516,104.80
1.57% Meta Platforms Inc META (30303M102) 5,240 $3,304,134.40
1.48% ServiceNow Inc NOW (81762P102) 19,718 $3,118,993.24
1.46% UnitedHealth Group Inc UNH (91324P102) 7,473 $3,069,161.10
1.35% FedEx Corp FDX (31428X106) 9,442 $2,838,076.36
1.32% RenaissanceRe Holdings Ltd RNR (G7496G103) 7,898 $2,777,410.68
1.31% Paycom Software Inc PAYC (70432V102) 10,289 $2,760,024.25
1.30% Marathon Petroleum Corp MPC (56585A102) 5,788 $2,724,064.32
1.29% Cencora Inc COR (03073E105) 8,192 $2,703,360.00
1.27% Everest Group Ltd EG (G3223R108) 6,697 $2,662,794.17
1.27% United Parcel Service Inc UPS (911312106) 26,705 $2,679,045.60
1.20% HF Sinclair Corp DINO (403949100) 20,136 $2,522,034.00
1.19% Amgen Inc AMGN (031162100) 5,641 $2,508,157.83
1.16% Qualys Inc QLYS (74758T303) 10,810 $2,433,871.50
1.14% Chevron Corp CVX (166764100) 10,360 $2,403,623.60
1.13% ExxonMobil Holdings Corp XOM (30233Q108) 12,915 $2,383,334.10
1.12% Gilead Sciences Inc GILD (375558103) 14,817 $2,351,309.73
1.10% EOG Resources Inc EOG (26875P101) 14,155 $2,316,890.40
1.10% Regeneron Pharmaceuticals Inc REGN (75886F107) 2,857 $2,307,513.19
1.08% Jabil Inc JBL (466313103) 8,225 $2,267,468.00
1.08% TE Connectivity PLC TEL (G87052109) 10,636 $2,274,614.96
1.07% Johnson & Johnson JNJ (478160104) 8,406 $2,238,517.80
1.06% Reinsurance Group of America Inc RGA (759351604) 8,377 $2,221,161.55
1.04% Vertex Pharmaceuticals Inc VRTX (92532F100) 4,210 $2,178,632.90
1.03% Biogen Inc BIIB (09062X103) 8,584 $2,165,399.84
1.02% NVIDIA Corp NVDA (67066G104) 9,959 $2,151,144.00
1.01% Costco Wholesale Corp COST (22160K105) 2,108 $2,118,877.28
1.01% Tenet Healthcare Corp THC (88033G407) 7,859 $2,113,678.05
1.01% Walmart Inc WMT (931142103) 17,730 $2,132,741.70
0.98% ELEVANCE HEALTH INC ELV (036752103) 4,786 $2,064,297.52
0.98% Laureate Education Inc LAUR (518613203) 53,517 $2,058,798.99
0.96% Target Corp TGT (87612E106) 13,568 $2,015,255.04
0.95% Centene Corp CNC (15135B101) 29,484 $2,005,796.52
0.94% Flex Ltd FLEX (Y2573F102) 25,645 $1,974,408.55
0.94% HCA Healthcare Inc HCA (40412C101) 4,249 $1,976,889.74
0.89% SLB Ltd SLB (806857108) 35,064 $1,861,197.12
0.88% Check Point Software Technologies Ltd CHKP (M22465104) 11,524 $1,839,576.12
0.88% Merck & Co Inc MRK (58933Y105) 13,082 $1,839,460.02
0.86% Automatic Data Processing Inc ADP (053015103) 5,999 $1,806,418.88
0.86% Broadcom Inc AVGO (11135F101) 5,484 $1,805,168.28
0.86% PBF Energy Inc PBF (69318G106) 22,555 $1,816,805.25
0.85% Dollar Tree Inc DLTR (256746108) 14,247 $1,779,735.24
0.83% Travelers Cos Inc/The TRV (89417E109) 4,381 $1,753,144.77
0.82% Expeditors International of Washington Inc EXPD (302130109) 8,722 $1,713,262.46
0.82% HP Inc HPQ (40434L105) 50,408 $1,718,408.72
0.80% Pfizer Inc PFE (717081103) 56,467 $1,682,151.93
0.79% Bristol-Myers Squibb Co BMY (110122108) 26,866 $1,655,214.26
0.79% United Therapeutics Corp UTHR (91307C102) 2,791 $1,654,616.44
0.78% BJ's Wholesale Club Holdings Inc BJ (05550J101) 15,383 $1,636,135.88
0.77% Covista Inc CVSA (00737L103) 12,286 $1,616,223.30
0.77% Sanmina Corp SANM (801056102) 9,999 $1,613,238.66
0.75% TD SYNNEX Corp SNX (87162W100) 6,323 $1,583,785.04
0.74% Arrow Electronics Inc ARW (042735100) 7,264 $1,557,692.16
0.74% Anheuser-Busch InBev SA/NV BUD (03524A108) 18,843 $1,544,749.14
0.74% Plexus Corp PLXS (729132100) 6,987 $1,553,349.84
0.73% Baker Hughes Co BKR (05722G100) 27,221 $1,524,648.21
0.73% Paychex Inc PAYX (704326107) 13,310 $1,539,967.00
0.73% Shell PLC SHEL (780259305) 14,307 $1,529,561.37
0.73% Western Digital Corp WDC (958102105) 4,306 $1,533,495.78
0.72% Dollar General Corp DG (256677105) 11,704 $1,503,027.68
0.69% Oceaneering International Inc OII (675232102) 35,788 $1,440,109.12
0.68% Paylocity Holding Corp PCTY (70438V106) 8,064 $1,422,973.44
0.67% GEN DIGITAL INC GEN (668771108) 57,571 $1,405,308.11
0.65% US BANK MMDA - USBGFS 9 09/01/2037 8AMMF0JA0 (8AMMF0JA0) 1,366,023 $1,366,023.00
0.65% GSK PLC GSK (37733W204) 26,692 $1,363,961.20
0.64% Allstate Corp/The ALL (020002101) 5,260 $1,346,297.00
0.64% Perdoceo Education Corp PRDO (71363P106) 40,830 $1,335,549.30
0.63% Assurant Inc AIZ (04621X108) 4,578 $1,314,572.70
0.63% Gartner Inc IT (366651107) 5,722 $1,321,953.66
0.62% CGI Inc GIB (12532H104) 15,934 $1,304,994.60
0.62% Lam Research Corp LRCX (512807306) 5,467 $1,298,412.50
0.62% Pearson PLC PSO (705015105) 70,977 $1,298,879.10
0.61% Cognizant Technology Solutions Corp CTSH (192446102) 18,398 $1,275,717.32
0.61% Fidelity National Information Services Inc FIS (31620M106) 34,503 $1,272,125.61
0.61% TriNet Group Inc TNET (896288107) 16,915 $1,272,515.45
0.60% Cenovus Energy Inc CVE (15135U109) 37,849 $1,255,829.82
0.59% Carnival Corp Ltd CCL (G2004J103) 45,844 $1,231,369.84
0.59% Tenaris SA TS (88031M109) 20,743 $1,230,267.33
0.58% Hartford Insurance Group Inc/The HIG (416515104) 8,893 $1,208,914.42
0.57% UiPath Inc PATH (90364P105) 83,884 $1,199,541.20
0.57% Progress Software Corp PRGS (743312100) 25,653 $1,187,990.43
0.57% PayPal Holdings Inc PYPL (70450Y103) 21,952 $1,207,140.48
0.56% HealthEquity Inc HQY (42226A107) 11,388 $1,181,505.00
0.55% CH Robinson Worldwide Inc CHRW (12541W209) 8,221 $1,152,173.15
0.52% Benchmark Electronics Inc BHE (08160H101) 16,265 $1,088,941.75
0.52% Ingram Micro Holding Corp INGM (457152106) 38,518 $1,096,992.64
0.52% Robert Half Inc RHI (770323103) 24,431 $1,098,906.38
0.52% WEX Inc WEX (96208T104) 5,665 $1,088,189.85
0.51% CVS Health Corp CVS (126650100) 11,526 $1,066,500.78
0.50% ADT Inc ADT (00090Q103) 154,014 $1,059,616.32
0.50% Diebold Nixdorf Inc DBD (253651202) 15,391 $1,059,208.62
0.50% ScanSource Inc SCSC (806037107) 17,373 $1,059,405.54
0.50% SiriusPoint Ltd SPNT (G8192H106) 41,000 $1,056,570.00
0.49% Avnet Inc AVT (053807103) 11,514 $1,032,230.10
0.49% ENCOMPASS HEALTH CORP EHC (29261A100) 8,228 $1,021,094.80
0.49% PriceSmart Inc PSMT (741511109) 5,992 $1,037,275.12
0.48% NOV Inc NOV (62955J103) 49,756 $1,004,573.64
0.47% Archrock Inc AROC (03957W106) 32,943 $987,301.71
0.47% Markel Group Inc MKL (570535104) 524 $981,976.00
0.46% Mercury General Corp MCY (589400100) 9,499 $965,478.36
0.46% Urban Outfitters Inc URBN (917047102) 10,664 $966,051.76
0.44% Weatherford International PLC WFRD (G48833118) 10,499 $930,211.40
0.43% Universal Health Services Inc UHS (913903100) 4,914 $912,578.94
0.42% Graham Holdings Co GHC (384637104) 737 $882,336.40
0.42% Hanover Insurance Group Inc/The THG (410867105) 3,729 $891,492.03
0.39% GXO Logistics Inc GXO (36262G101) 16,571 $817,116.01
0.39% Korn Ferry KFY (500643200) 10,313 $813,180.05
0.39% OneSpan Inc OSPN (68287N100) 39,457 $812,814.20
0.39% White Mountains Insurance Group Ltd WTM (G9618E107) 372 $828,570.48
0.38% CTS Corp CTS (126501105) 14,641 $789,442.72
0.34% Gap Inc/The GAP (364760108) 32,277 $718,486.02
0.25% Fedex Freight Holding Co Inc FDXF (314352105) 4,719 $516,494.55
0.25% Hub Group Inc HUBG (443320106) 20,086 $523,441.16
0.01% Cash & Other Cash&Other $18,327.88

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