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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 30, 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:
    $216,810,588
  • Shares Outstanding:
    4,531,875
  • 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 30, 2026
NAV Price
Net Asset Value $47.84 Closing Price $47.86
Daily Change $-0.27 Daily Change $-0.25
Daily Change -0.55% Daily Change -0.52%
    Premium/Discount 0.04%
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 30, 2026
Percentage of Net Assets Name Identifier (Cusip) Shares Held Market Value
2.06% Microsoft Corp MSFT (594918104) 8,561 $4,468,071.51
2.01% McKesson Corp MCK (58155Q103) 4,387 $4,363,222.46
2.00% Cardinal Health Inc CAH (14149Y108) 17,282 $4,328,795.36
1.96% Dell Technologies Inc DELL (24703L202) 10,022 $4,252,334.60
1.78% Advanced Micro Devices Inc AMD (007903107) 7,657 $3,865,253.60
1.69% Alphabet Inc GOOGL (02079K305) 13,067 $3,656,669.28
1.60% Cisco Systems Inc CSCO (17275R102) 33,176 $3,467,223.76
1.55% Meta Platforms Inc META (30303M102) 5,450 $3,351,695.50
1.46% UnitedHealth Group Inc UNH (91324P102) 7,767 $3,160,935.99
1.42% FedEx Corp FDX (31428X106) 9,820 $3,076,409.60
1.39% United Parcel Service Inc UPS (911312106) 27,776 $3,006,752.00
1.32% Everest Group Ltd EG (G3223R108) 6,963 $2,861,584.11
1.30% Cencora Inc COR (03073E105) 8,521 $2,819,087.64
1.30% Paycom Software Inc PAYC (70432V102) 10,702 $2,827,468.40
1.29% RenaissanceRe Holdings Ltd RNR (G7496G103) 8,213 $2,786,835.16
1.27% Regeneron Pharmaceuticals Inc REGN (75886F107) 2,969 $2,754,905.41
1.26% Amgen Inc AMGN (031162100) 5,865 $2,733,148.65
1.23% Marathon Petroleum Corp MPC (56585A102) 6,019 $2,676,829.87
1.21% Gilead Sciences Inc GILD (375558103) 15,412 $2,630,520.16
1.17% Chevron Corp CVX (166764100) 10,773 $2,537,256.96
1.16% Qualys Inc QLYS (74758T303) 11,244 $2,520,005.28
1.16% ExxonMobil Holdings Corp XOM (30233Q108) 13,433 $2,515,329.25
1.13% Vertex Pharmaceuticals Inc VRTX (92532F100) 4,378 $2,446,776.64
1.12% EOG Resources Inc EOG (26875P101) 14,722 $2,437,079.88
1.11% HF Sinclair Corp DINO (403949100) 20,941 $2,408,215.00
1.10% Johnson & Johnson JNJ (478160104) 8,742 $2,388,314.40
1.09% TE Connectivity PLC TEL (G87052109) 11,063 $2,356,750.89
1.08% Jabil Inc JBL (466313103) 8,554 $2,332,846.88
1.06% Flex Ltd FLEX (Y2573F102) 26,674 $2,306,767.52
1.06% Reinsurance Group of America Inc RGA (759351604) 8,713 $2,306,592.49
1.05% Walmart Inc WMT (931142103) 18,437 $2,277,153.87
1.04% Biogen Inc BIIB (09062X103) 8,927 $2,264,065.74
1.03% Tenet Healthcare Corp THC (88033G407) 8,174 $2,233,545.50
1.02% Costco Wholesale Corp COST (22160K105) 2,192 $2,218,917.76
1.00% Target Corp TGT (87612E106) 14,107 $2,177,838.66
0.99% ServiceNow Inc NOW (81762P102) 20,509 $2,155,906.08
0.98% NVIDIA Corp NVDA (67066G104) 10,358 $2,119,661.12
0.97% Centene Corp CNC (15135B101) 30,667 $2,099,156.15
0.96% ELEVANCE HEALTH INC ELV (036752103) 4,975 $2,089,848.25
0.96% HCA Healthcare Inc HCA (40412C101) 4,417 $2,090,080.23
0.94% Merck & Co Inc MRK (58933Y105) 13,607 $2,034,518.64
0.91% Dollar Tree Inc DLTR (256746108) 14,814 $1,983,150.18
0.90% SLB Ltd SLB (806857108) 36,471 $1,959,951.54
0.86% Broadcom Inc AVGO (11135F101) 5,701 $1,858,982.08
0.85% Automatic Data Processing Inc ADP (053015103) 6,237 $1,832,680.08
0.85% Laureate Education Inc LAUR (518613203) 55,666 $1,849,224.52
0.84% Check Point Software Technologies Ltd CHKP (M22465104) 11,986 $1,823,190.46
0.84% PBF Energy Inc PBF (69318G106) 23,458 $1,829,724.00
0.83% Expeditors International of Washington Inc EXPD (302130109) 9,072 $1,803,967.20
0.83% Pfizer Inc PFE (717081103) 58,735 $1,792,592.20
0.83% Travelers Cos Inc/The TRV (89417E109) 4,556 $1,805,178.32
0.81% Bristol-Myers Squibb Co BMY (110122108) 27,944 $1,745,941.12
0.80% GEN DIGITAL INC GEN (668771108) 59,881 $1,744,333.53
0.80% United Therapeutics Corp UTHR (91307C102) 2,903 $1,738,084.16
0.79% BJ's Wholesale Club Holdings Inc BJ (05550J101) 15,999 $1,717,012.68
0.79% Sanmina Corp SANM (801056102) 10,398 $1,721,596.86
0.76% Western Digital Corp WDC (958102105) 4,474 $1,637,976.14
0.75% Shell PLC SHEL (780259305) 14,881 $1,617,415.89
0.74% Dollar General Corp DG (256677105) 12,173 $1,610,487.90
0.73% ADT Inc ADT (00090Q103) 160,195 $1,579,522.70
0.73% Arrow Electronics Inc ARW (042735100) 7,551 $1,573,175.34
0.73% Anheuser-Busch InBev SA/NV BUD (03524A108) 19,599 $1,575,367.62
0.73% Covista Inc CVSA (00737L103) 12,776 $1,588,440.08
0.72% Baker Hughes Co BKR (05722G100) 28,313 $1,563,726.99
0.72% Paychex Inc PAYX (704326107) 13,842 $1,551,965.04
0.72% TD SYNNEX Corp SNX (87162W100) 6,575 $1,555,776.50
0.70% US BANK MMDA - USBGFS 9 09/01/2037 8AMMF0JA0 (8AMMF0JA0) 1,521,669 $1,521,669.05
0.70% HP Inc HPQ (40434L105) 52,431 $1,508,964.18
0.70% Oceaneering International Inc OII (675232102) 37,223 $1,520,931.78
0.70% Plexus Corp PLXS (729132100) 7,267 $1,511,245.32
0.66% Allstate Corp/The ALL (020002101) 5,470 $1,421,488.90
0.66% Paylocity Holding Corp PCTY (70438V106) 8,386 $1,433,251.26
0.64% Assurant Inc AIZ (04621X108) 4,760 $1,393,728.00
0.64% Fidelity National Information Services Inc FIS (31620M106) 35,882 $1,383,251.10
0.63% Carnival Corp Ltd CCL (G2004J103) 47,685 $1,374,758.55
0.63% GSK PLC GSK (37733W204) 27,763 $1,374,546.13
0.63% Gartner Inc IT (366651107) 5,946 $1,360,385.34
0.63% Lam Research Corp LRCX (512807306) 5,684 $1,359,101.24
0.62% CGI Inc GIB (12532H104) 16,571 $1,334,959.76
0.60% PayPal Holdings Inc PYPL (70450Y103) 22,827 $1,301,367.27
0.60% Tenaris SA TS (88031M109) 21,576 $1,301,248.56
0.59% Cenovus Energy Inc CVE (15135U109) 39,368 $1,288,514.64
0.59% Pearson PLC PSO (705015105) 73,826 $1,282,357.62
0.58% Perdoceo Education Corp PRDO (71363P106) 42,468 $1,265,971.08
0.57% Cognizant Technology Solutions Corp CTSH (192446102) 19,133 $1,245,749.63
0.57% Hartford Insurance Group Inc/The HIG (416515104) 9,250 $1,226,457.50
0.56% HealthEquity Inc HQY (42226A107) 11,843 $1,213,552.21
0.56% Progress Software Corp PRGS (743312100) 26,682 $1,204,158.66
0.55% UiPath Inc PATH (90364P105) 87,251 $1,197,956.23
0.54% ENCOMPASS HEALTH CORP EHC (29261A100) 8,557 $1,162,896.30
0.53% Benchmark Electronics Inc BHE (08160H101) 16,916 $1,156,546.92
0.52% Ingram Micro Holding Corp INGM (457152106) 40,065 $1,137,846.00
0.52% TriNet Group Inc TNET (896288107) 17,594 $1,130,942.32
0.51% Robert Half Inc RHI (770323103) 25,411 $1,111,223.03
0.51% SiriusPoint Ltd SPNT (G8192H106) 42,645 $1,103,652.60
0.50% Archrock Inc AROC (03957W106) 34,266 $1,086,232.20
0.50% CVS Health Corp CVS (126650100) 11,988 $1,081,917.00
0.50% WEX Inc WEX (96208T104) 5,889 $1,087,168.29
0.49% Avnet Inc AVT (053807103) 11,976 $1,056,283.20
0.49% CH Robinson Worldwide Inc CHRW (12541W209) 8,550 $1,065,415.50
0.49% OneSpan Inc OSPN (68287N100) 41,039 $1,053,060.74
0.48% PriceSmart Inc PSMT (741511109) 6,230 $1,032,311.00
0.48% ScanSource Inc SCSC (806037107) 18,066 $1,042,588.86
0.47% Mercury General Corp MCY (589400100) 9,877 $1,011,602.34
0.47% Markel Group Inc MKL (570535104) 545 $1,019,051.90
0.46% NOV Inc NOV (62955J103) 51,751 $998,276.79
0.46% Urban Outfitters Inc URBN (917047102) 11,091 $1,006,175.52
0.46% Weatherford International PLC WFRD (G48833118) 10,919 $989,588.97
0.43% CTS Corp CTS (126501105) 15,229 $932,928.54
0.43% Hanover Insurance Group Inc/The THG (410867105) 3,876 $938,340.84
0.41% Diebold Nixdorf Inc DBD (253651202) 16,007 $881,185.35
0.41% Graham Holdings Co GHC (384637104) 765 $893,910.15
0.41% Universal Health Services Inc UHS (913903100) 5,110 $899,615.50
0.40% GXO Logistics Inc GXO (36262G101) 17,236 $866,453.72
0.40% White Mountains Insurance Group Ltd WTM (G9618E107) 386 $876,216.14
0.38% Korn Ferry KFY (500643200) 10,726 $821,075.30
0.35% Gap Inc/The GAP (364760108) 33,572 $749,327.04
0.29% Fedex Freight Holding Co Inc FDXF (314352105) 4,908 $618,604.32
0.26% Hub Group Inc HUBG (443320106) 20,891 $557,998.61
-0.03% Cash & Other Cash&Other $-54,504.97

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