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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 27, 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:
    $177,794,495
  • Shares Outstanding:
    3,681,875
  • 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:
    119

Fund Prices

as of August 27, 2026
NAV Price
Net Asset Value $48.29 Closing Price $48.31
Daily Change $0.20 Daily Change $0.18
Daily Change 0.41% Daily Change 0.37%
    Premium/Discount 0.04%
Bid-Ask Spead (30 day median) 0.08%

Month End Performance

as of July 31, 2026
Avg. Annualized
1 YR. 3 YR. 5 YR. 10 YR. 15 YR. 20 YR. 25 YR. INCEPTION
Fund NAV 27.57% 18.36% 12.01% 13.69% 12.60% 9.75% 9.26% 9.71%
Closing Price 27.75% 18.37% 12.02% 13.70% 12.60% 9.76% 9.26% 9.71%
Cumulative
YTD 1 MO. 3 MO. 6 MO. INCEPTION
Fund NAV 15.08% -1.39% 4.21% 11.08% 1,024.77%
Closing Price 14.88% -1.29% 4.21% 10.93% 1,025.13%

Quarter End Performance

as of June 30, 2026
Avg. Annualized
1 YR. 3 YR. 5 YR. 10 YR. 15 YR. 20 YR. 25 YR. INCEPTION
Fund NAV 29.02% 19.97% 12.81% 14.35% 12.32% 9.77% 9.23% 9.80%
Closing Price 28.88% 19.94% 12.80% 14.34% 12.31% 9.76% 9.22% 9.80%
Cumulative
YTD 1 MO. 3 MO. 6 MO. INCEPTION
Fund NAV 16.71% 0.61% 15.69% 16.71% 1,040.65%
Closing Price 16.39% 0.45% 15.53% 16.39% 1,039.89%

as of August 27, 2026
Percentage of Net Assets Name Identifier (Cusip) Shares Held Market Value
2.17% Dell Technologies Inc DELL (24703L202) 8,262 $3,901,812.12
2.03% Alphabet Inc GOOGL (02079K305) 10,763 $3,666,415.95
1.98% Microsoft Corp MSFT (594918104) 7,057 $3,564,208.42
1.86% Cardinal Health Inc CAH (14149Y108) 14,242 $3,348,721.46
1.79% McKesson Corp MCK (58155Q103) 3,619 $3,222,755.69
1.70% Cisco Systems Inc CSCO (17275R102) 27,320 $3,063,938.00
1.67% Advanced Micro Devices Inc AMD (007903107) 6,313 $3,009,217.71
1.49% FedEx Corp FDX (31428X106) 8,092 $2,681,769.72
1.46% Kinross Gold Corp KGC (496902404) 80,773 $2,625,930.23
1.42% JPMORGAN CHASE & CO. JPM (46625H100) 7,219 $2,557,114.18
1.42% Meta Platforms Inc META (30303M102) 4,490 $2,564,239.00
1.41% Flex Ltd FLEX (Y2573F102) 21,970 $2,533,141.00
1.40% Citigroup Inc C (172967424) 18,998 $2,520,654.64
1.34% United Parcel Service Inc UPS (911312106) 22,880 $2,417,958.40
1.30% ServiceNow Inc NOW (81762P102) 16,893 $2,338,497.99
1.25% Cencora Inc COR (03073E105) 7,017 $2,254,070.91
1.24% Bank of America Corp BAC (060505104) 36,478 $2,231,359.26
1.24% RenaissanceRe Holdings Ltd RNR (G7496G103) 6,773 $2,237,866.93
1.23% F5 Inc FFIV (315616102) 5,416 $2,221,751.52
1.22% Jabil Inc JBL (466313103) 7,050 $2,201,151.00
1.20% Everest Group Ltd EG (G3223R108) 5,747 $2,170,412.02
1.17% Amgen Inc AMGN (031162100) 4,841 $2,115,468.59
1.17% Canadian Imperial Bank of Commerce CM (136069101) 18,397 $2,112,711.48
1.16% Paycom Software Inc PAYC (70432V102) 8,814 $2,089,270.56
1.13% IAMGOLD Corp IAG (450913108) 94,943 $2,045,072.22
1.10% Regeneron Pharmaceuticals Inc REGN (75886F107) 2,457 $1,984,543.47
1.10% Vertex Pharmaceuticals Inc VRTX (92532F100) 3,610 $1,976,655.50
1.08% NVIDIA Corp NVDA (67066G104) 8,534 $1,945,581.32
1.06% Johnson & Johnson JNJ (478160104) 7,206 $1,915,138.62
1.05% Gilead Sciences Inc GILD (375558103) 12,692 $1,889,331.12
1.03% Telefonaktiebolaget LM Ericsson ERIC (294821608) 184,744 $1,862,219.52
1.03% TE Connectivity PLC TEL (G87052109) 9,111 $1,849,533.00
1.02% Barclays PLC BCS (06738E204) 68,400 $1,837,908.00
1.00% Marathon Petroleum Corp MPC (56585A102) 4,963 $1,804,249.02
1.00% Tenet Healthcare Corp THC (88033G407) 6,734 $1,803,028.50
0.99% Laureate Education Inc LAUR (518613203) 45,842 $1,789,671.68
0.98% Chevron Corp CVX (166764100) 8,885 $1,774,956.45
0.98% Reinsurance Group of America Inc RGA (759351604) 7,177 $1,765,685.54
0.97% Broadcom Inc AVGO (11135F101) 4,709 $1,749,581.86
0.97% EOG Resources Inc EOG (26875P101) 12,085 $1,746,282.50
0.97% Qualys Inc QLYS (74758T303) 9,260 $1,746,343.40
0.97% Sanmina Corp SANM (801056102) 8,574 $1,743,522.90
0.96% ExxonMobil Holdings Corp XOM (30233Q108) 11,020 $1,723,968.80
0.93% HF Sinclair Corp DINO (403949100) 17,261 $1,674,317.00
0.93% Merck & Co Inc MRK (58933Y105) 11,207 $1,675,894.78
0.92% SLB Ltd SLB (806857108) 30,039 $1,652,445.39
0.91% ELEVANCE HEALTH INC ELV (036752103) 4,111 $1,640,741.21
0.90% Biogen Inc BIIB (09062X103) 7,359 $1,630,018.50
0.89% Eldorado Gold Corp EGO (284902509) 33,313 $1,600,023.39
0.87% Oceaneering International Inc OII (675232102) 30,663 $1,570,252.23
0.86% Agnico Eagle Mines Ltd AEM (008474108) 7,166 $1,543,843.04
0.86% Bristol-Myers Squibb Co BMY (110122108) 23,016 $1,540,921.20
0.85% HCA Healthcare Inc HCA (40412C101) 3,649 $1,530,171.66
0.85% NetScout Systems Inc NTCT (64115T104) 38,690 $1,526,707.40
0.83% GEN DIGITAL INC GEN (668771108) 49,321 $1,504,290.50
0.83% Lam Research Corp LRCX (512807306) 4,692 $1,494,777.36
0.82% Covista Inc CVSA (00737L103) 10,536 $1,482,204.48
0.82% Plexus Corp PLXS (729132100) 5,987 $1,469,389.41
0.81% Automatic Data Processing Inc ADP (053015103) 5,149 $1,465,817.32
0.80% Baker Hughes Co BKR (05722G100) 23,321 $1,448,467.31
0.80% Paychex Inc PAYX (704326107) 11,410 $1,443,136.80
0.79% Expeditors International of Washington Inc EXPD (302130109) 7,472 $1,425,059.84
0.77% PNC Financial Services Group Inc/The PNC (693475105) 5,677 $1,382,406.27
0.77% Travelers Cos Inc/The TRV (89417E109) 3,756 $1,387,203.48
0.77% US Bancorp USB (902973304) 22,275 $1,389,960.00
0.75% Pfizer Inc PFE (717081103) 48,367 $1,355,243.34
0.74% US BANK MMDA - USBGFS 9 09/01/2037 8AMMF0JA0 (8AMMF0JA0) 1,328,995 $1,328,994.87
0.74% PBF Energy Inc PBF (69318G106) 19,330 $1,325,844.70
0.73% Check Point Software Technologies Ltd CHKP (M22465104) 9,874 $1,315,513.02
0.73% UiPath Inc PATH (90364P105) 71,859 $1,317,175.47
0.70% United Therapeutics Corp UTHR (91307C102) 2,391 $1,262,232.81
0.66% Perdoceo Education Corp PRDO (71363P106) 34,980 $1,182,673.80
0.64% Allstate Corp/The ALL (020002101) 4,510 $1,161,866.20
0.64% GSK PLC GSK (37733W204) 22,867 $1,149,524.09
0.62% Assurant Inc AIZ (04621X108) 3,928 $1,121,090.48
0.62% Shell PLC SHEL (780259305) 12,257 $1,111,709.90
0.61% Paylocity Holding Corp PCTY (70438V106) 6,914 $1,093,449.10
0.59% CH Robinson Worldwide Inc CHRW (12541W209) 7,046 $1,064,932.44
0.58% Hartford Insurance Group Inc/The HIG (416515104) 7,618 $1,049,760.40
0.57% Benchmark Electronics Inc BHE (08160H101) 13,940 $1,027,238.60
0.56% Pearson PLC PSO (705015105) 60,802 $1,012,961.32
0.56% TriNet Group Inc TNET (896288107) 14,490 $1,007,489.70
0.55% Progress Software Corp PRGS (743312100) 21,978 $993,845.16
0.54% Carnival Corp Ltd CCL (G2004J103) 39,269 $979,761.55
0.54% Tenaris SA TS (88031M109) 17,768 $964,980.08
0.54% United Airlines Holdings Inc UAL (910047109) 8,704 $978,242.56
0.52% Equinox Gold Corp EQX (29446Y502) 70,210 $944,324.50
0.52% Robert Half Inc RHI (770323103) 20,931 $941,267.07
0.51% Analog Devices Inc ADI (032654105) 2,464 $922,817.28
0.51% CVS Health Corp CVS (126650100) 9,876 $917,677.92
0.51% HealthEquity Inc HQY (42226A107) 9,763 $911,766.57
0.50% Archrock Inc AROC (03957W106) 28,218 $904,669.08
0.49% Digi International Inc DGII (253798102) 11,406 $883,394.70
0.49% NOV Inc NOV (62955J103) 42,631 $885,019.56
0.48% Pan American Silver Corp PAAS (697900108) 15,684 $860,894.76
0.47% ENCOMPASS HEALTH CORP EHC (29261A100) 7,053 $843,327.21
0.47% SiriusPoint Ltd SPNT (G8192H106) 35,125 $845,458.75
0.46% Mercury General Corp MCY (589400100) 8,149 $836,413.36
0.46% Weatherford International PLC WFRD (G48833118) 8,999 $827,638.03
0.45% Markel Group Inc MKL (570535104) 449 $810,813.18
0.44% QUALCOMM Inc QCOM (747525103) 4,819 $794,074.82
0.43% NETGEAR Inc NTGR (64111Q104) 34,980 $768,860.40
0.42% Korn Ferry KFY (500643200) 8,838 $748,136.70
0.40% CTS Corp CTS (126501105) 12,541 $723,239.47
0.40% Graham Holdings Co GHC (384637104) 637 $728,040.04
0.40% Hanover Insurance Group Inc/The THG (410867105) 3,204 $729,422.64
0.40% Universal Health Services Inc UHS (913903100) 4,214 $727,252.12
0.40% Urban Outfitters Inc URBN (917047102) 9,139 $720,061.81
0.38% GXO Logistics Inc GXO (36262G101) 14,196 $681,124.08
0.38% Hub Group Inc HUBG (443320106) 17,211 $688,095.78
0.38% White Mountains Insurance Group Ltd WTM (G9618E107) 322 $685,077.54
0.36% NXP Semiconductors NV NXPI (N6596X109) 2,883 $651,154.38
0.32% Diodes Inc DIOD (254543101) 6,280 $570,600.80
0.32% Gap Inc/The GAP (364760108) 27,652 $574,885.08
0.31% OneSpan Inc OSPN (68287N100) 33,807 $556,463.22
0.30% Fedex Freight Holding Co Inc FDXF (314352105) 4,044 $538,863.00
0.27% Cirrus Logic Inc CRUS (172755100) 4,331 $480,221.28
0.27% GLOBALFOUNDRIES Inc GFS (G39387108) 10,630 $492,594.20
0.07% Cash & Other Cash&Other $119,825.55

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