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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 12, 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:
    $173,708,287
  • Shares Outstanding:
    3,606,875
  • 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 12, 2026
NAV Price
Net Asset Value $48.16 Closing Price $48.19
Daily Change $0.24 Daily Change $-0.10
Daily Change 0.50% Daily Change -0.21%
    Premium/Discount 0.06%
Bid-Ask Spead (30 day median) 0.1%

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 12, 2026
Percentage of Net Assets Name Identifier (Cusip) Shares Held Market Value
2.23% Dell Technologies Inc DELL (24703L202) 7,987 $3,869,701.50
2.06% Alphabet Inc GOOGL (02079K305) 10,403 $3,573,846.62
1.93% Microsoft Corp MSFT (594918104) 6,822 $3,359,357.46
1.88% Cisco Systems Inc CSCO (17275R102) 26,405 $3,271,051.40
1.86% Cardinal Health Inc CAH (14149Y108) 13,767 $3,223,680.72
1.77% McKesson Corp MCK (58155Q103) 3,499 $3,074,676.27
1.70% Advanced Micro Devices Inc AMD (007903107) 6,103 $2,947,321.79
1.52% Flex Ltd FLEX (Y2573F102) 21,235 $2,644,394.55
1.47% FedEx Corp FDX (31428X106) 7,822 $2,555,994.94
1.47% JPMORGAN CHASE & CO. JPM (46625H100) 6,979 $2,548,591.22
1.45% Citigroup Inc C (172967424) 18,363 $2,526,381.54
1.45% Meta Platforms Inc META (30303M102) 4,340 $2,512,209.00
1.44% Jabil Inc JBL (466313103) 6,815 $2,495,380.40
1.32% Bank of America Corp BAC (060505104) 35,258 $2,285,070.98
1.32% United Parcel Service Inc UPS (911312106) 22,115 $2,297,969.65
1.27% F5 Inc FFIV (315616102) 5,236 $2,214,566.20
1.24% Canadian Imperial Bank of Commerce CM (136069101) 17,782 $2,149,843.80
1.24% Kinross Gold Corp KGC (496902404) 78,068 $2,145,308.64
1.23% Cencora Inc COR (03073E105) 6,782 $2,130,700.94
1.20% RenaissanceRe Holdings Ltd RNR (G7496G103) 6,548 $2,078,662.60
1.17% ServiceNow Inc NOW (81762P102) 16,328 $2,040,020.32
1.16% Everest Group Ltd EG (G3223R108) 5,557 $2,020,914.19
1.12% Amgen Inc AMGN (031162100) 4,681 $1,948,138.58
1.09% Broadcom Inc AVGO (11135F101) 4,554 $1,894,691.70
1.09% Regeneron Pharmaceuticals Inc REGN (75886F107) 2,377 $1,896,822.23
1.09% TE Connectivity PLC TEL (G87052109) 8,806 $1,886,245.20
1.07% Barclays PLC BCS (06738E204) 66,110 $1,853,724.40
1.06% NVIDIA Corp NVDA (67066G104) 8,249 $1,848,518.41
1.06% Vertex Pharmaceuticals Inc VRTX (92532F100) 3,490 $1,834,797.70
1.05% Telefonaktiebolaget LM Ericsson ERIC (294821608) 178,559 $1,817,730.62
1.05% Johnson & Johnson JNJ (478160104) 6,966 $1,817,150.76
1.04% Paycom Software Inc PAYC (70432V102) 8,519 $1,799,894.32
1.03% Dycom Industries Inc DY (267475101) 4,346 $1,782,598.82
1.00% Sanmina Corp SANM (801056102) 8,289 $1,731,572.10
1.00% Tenet Healthcare Corp THC (88033G407) 6,509 $1,736,536.11
0.98% EMCOR Group Inc EME (29084Q100) 2,045 $1,704,303.00
0.98% Reinsurance Group of America Inc RGA (759351604) 6,937 $1,707,056.96
0.96% Gilead Sciences Inc GILD (375558103) 12,267 $1,666,717.29
0.96% Qualys Inc QLYS (74758T303) 8,950 $1,674,992.50
0.95% IAMGOLD Corp IAG (450913108) 91,763 $1,658,157.41
0.94% Laureate Education Inc LAUR (518613203) 44,307 $1,638,915.93
0.91% ELEVANCE HEALTH INC ELV (036752103) 3,976 $1,586,980.64
0.91% Plexus Corp PLXS (729132100) 5,787 $1,573,774.65
0.88% SLB Ltd SLB (806857108) 29,034 $1,527,478.74
0.87% Oceaneering International Inc OII (675232102) 29,638 $1,512,130.76
0.86% Biogen Inc BIIB (09062X103) 7,114 $1,485,901.18
0.85% Lam Research Corp LRCX (512807306) 4,537 $1,479,561.07
0.85% NetScout Systems Inc NTCT (64115T104) 37,395 $1,476,728.55
0.84% HF Sinclair Corp DINO (403949100) 16,686 $1,467,199.98
0.84% HCA Healthcare Inc HCA (40412C101) 3,529 $1,463,088.11
0.83% Baker Hughes Co BKR (05722G100) 22,541 $1,448,935.48
0.83% Merck & Co Inc MRK (58933Y105) 10,832 $1,439,789.44
0.82% Bristol-Myers Squibb Co BMY (110122108) 22,246 $1,417,070.20
0.81% PNC Financial Services Group Inc/The PNC (693475105) 5,487 $1,401,709.02
0.81% US Bancorp USB (902973304) 21,530 $1,399,880.60
0.79% GEN DIGITAL INC GEN (668771108) 47,671 $1,365,297.44
0.77% Automatic Data Processing Inc ADP (053015103) 4,979 $1,340,994.07
0.77% Expeditors International of Washington Inc EXPD (302130109) 7,222 $1,332,242.34
0.77% Travelers Cos Inc/The TRV (89417E109) 3,631 $1,344,050.96
0.76% Paychex Inc PAYX (704326107) 11,030 $1,327,681.10
0.76% PBF Energy Inc PBF (69318G106) 18,685 $1,314,302.90
0.75% Covista Inc CVSA (00737L103) 10,186 $1,306,048.92
0.74% Agnico Eagle Mines Ltd AEM (008474108) 6,926 $1,282,556.68
0.74% Eldorado Gold Corp EGO (284902509) 32,198 $1,277,938.62
0.71% Check Point Software Technologies Ltd CHKP (M22465104) 9,544 $1,233,943.76
0.71% Pfizer Inc PFE (717081103) 46,747 $1,229,913.57
0.70% Valmont Industries Inc VMI (920253101) 2,462 $1,213,544.42
0.69% US BANK MMDA - USBGFS 9 09/01/2037 8AMMF0JA0 (8AMMF0JA0) 1,195,640 $1,195,639.57
0.69% Granite Construction Inc GVA (387328107) 9,434 $1,190,476.46
0.68% United Therapeutics Corp UTHR (91307C102) 2,311 $1,182,584.92
0.64% Allstate Corp/The ALL (020002101) 4,360 $1,115,462.40
0.64% Benchmark Electronics Inc BHE (08160H101) 13,475 $1,104,141.50
0.64% GSK PLC GSK (37733W204) 22,102 $1,111,730.60
0.61% Assurant Inc AIZ (04621X108) 3,798 $1,067,693.76
0.61% UiPath Inc PATH (90364P105) 69,454 $1,059,868.04
0.61% Perdoceo Education Corp PRDO (71363P106) 33,810 $1,059,605.40
0.61% Shell PLC SHEL (780259305) 11,847 $1,067,059.29
0.61% United Airlines Holdings Inc UAL (910047109) 8,414 $1,052,759.68
0.60% Carnival Corp Ltd CCL (G2004J103) 37,954 $1,050,187.18
0.58% CH Robinson Worldwide Inc CHRW (12541W209) 6,811 $999,173.70
0.58% Hartford Insurance Group Inc/The HIG (416515104) 7,363 $1,011,970.72
0.57% HealthEquity Inc HQY (42226A107) 9,438 $995,709.00
0.57% Primoris Services Corp PRIM (74164F103) 12,166 $991,042.36
0.56% Paylocity Holding Corp PCTY (70438V106) 6,684 $973,658.28
0.55% Pearson PLC PSO (705015105) 58,767 $947,324.04
0.54% Digi International Inc DGII (253798102) 11,026 $939,856.24
0.54% TriNet Group Inc TNET (896288107) 14,005 $935,954.15
0.53% Analog Devices Inc ADI (032654105) 2,384 $916,481.12
0.53% Progress Software Corp PRGS (743312100) 21,243 $925,769.94
0.53% Tenaris SA TS (88031M109) 17,173 $912,744.95
0.52% Archrock Inc AROC (03957W106) 27,273 $907,645.44
0.52% CVS Health Corp CVS (126650100) 9,546 $904,197.12
0.50% NOV Inc NOV (62955J103) 41,206 $861,617.46
0.49% ENCOMPASS HEALTH CORP EHC (29261A100) 6,818 $851,090.94
0.48% Mercury General Corp MCY (589400100) 7,879 $831,392.08
0.48% Robert Half Inc RHI (770323103) 20,231 $840,598.05
0.47% NETGEAR Inc NTGR (64111Q104) 33,810 $818,202.00
0.46% Markel Group Inc MKL (570535104) 434 $799,627.64
0.46% Pan American Silver Corp PAAS (697900108) 15,159 $794,028.42
0.46% Weatherford International PLC WFRD (G48833118) 8,699 $806,397.30
0.45% Equinox Gold Corp EQX (29446Y502) 67,860 $782,425.80
0.45% SiriusPoint Ltd SPNT (G8192H106) 33,950 $777,455.00
0.45% Universal Technical Institute Inc UTI (913915104) 30,804 $789,814.56
0.44% CTS Corp CTS (126501105) 12,121 $771,138.02
0.44% QUALCOMM Inc QCOM (747525103) 4,659 $759,743.13
0.42% Graham Holdings Co GHC (384637104) 617 $732,613.46
0.41% Korn Ferry KFY (500643200) 8,543 $711,631.90
0.40% Hanover Insurance Group Inc/The THG (410867105) 3,099 $688,535.82
0.40% Universal Health Services Inc UHS (913903100) 4,074 $702,561.30
0.39% Hub Group Inc HUBG (443320106) 16,636 $668,933.56
0.39% Urban Outfitters Inc URBN (917047102) 8,834 $684,369.98
0.38% GXO Logistics Inc GXO (36262G101) 13,721 $658,333.58
0.38% White Mountains Insurance Group Ltd WTM (G9618E107) 312 $661,271.52
0.37% Diodes Inc DIOD (254543101) 6,070 $649,732.80
0.37% NXP Semiconductors NV NXPI (N6596X109) 2,788 $650,747.08
0.32% Fedex Freight Holding Co Inc FDXF (314352105) 3,909 $552,107.16
0.31% Gap Inc/The GAP (364760108) 26,727 $541,221.75
0.31% GLOBALFOUNDRIES Inc GFS (G39387108) 10,275 $546,424.50
0.31% OneSpan Inc OSPN (68287N100) 32,677 $540,150.81
0.29% Cirrus Logic Inc CRUS (172755100) 4,186 $510,231.54
-0.01% Cash & Other Cash&Other $-8,883.28

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