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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 21, 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:
    $175,945,424
  • 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:
    121

Fund Prices

as of August 21, 2026
NAV Price
Net Asset Value $47.79 Closing Price $47.82
Daily Change $0.45 Daily Change $0.45
Daily Change 0.96% Daily Change 0.95%
    Premium/Discount 0.07%
Bid-Ask Spead (30 day median) 0.09%

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 21, 2026
Percentage of Net Assets Name Identifier (Cusip) Shares Held Market Value
2.08% Alphabet Inc GOOGL (02079K305) 10,619 $3,661,643.58
2.05% Dell Technologies Inc DELL (24703L202) 8,152 $3,603,836.16
1.91% Microsoft Corp MSFT (594918104) 6,963 $3,364,800.12
1.83% Cardinal Health Inc CAH (14149Y108) 14,052 $3,225,074.52
1.74% McKesson Corp MCK (58155Q103) 3,571 $3,067,131.90
1.70% Cisco Systems Inc CSCO (17275R102) 26,954 $2,992,972.16
1.68% Advanced Micro Devices Inc AMD (007903107) 6,229 $2,947,874.25
1.48% FedEx Corp FDX (31428X106) 7,984 $2,595,438.72
1.48% Kinross Gold Corp KGC (496902404) 79,691 $2,610,677.16
1.42% JPMORGAN CHASE & CO. JPM (46625H100) 7,123 $2,504,304.34
1.40% Citigroup Inc C (172967424) 18,744 $2,467,647.60
1.38% Meta Platforms Inc META (30303M102) 4,430 $2,436,057.00
1.36% Flex Ltd FLEX (Y2573F102) 21,676 $2,394,114.20
1.31% United Parcel Service Inc UPS (911312106) 22,574 $2,302,773.74
1.26% Bank of America Corp BAC (060505104) 35,990 $2,220,223.10
1.25% Cencora Inc COR (03073E105) 6,923 $2,201,790.92
1.24% Jabil Inc JBL (466313103) 6,956 $2,178,688.76
1.23% RenaissanceRe Holdings Ltd RNR (G7496G103) 6,683 $2,161,616.35
1.22% ServiceNow Inc NOW (81762P102) 16,667 $2,141,376.16
1.20% Canadian Imperial Bank of Commerce CM (136069101) 18,151 $2,114,409.99
1.19% Amgen Inc AMGN (031162100) 4,777 $2,098,679.41
1.19% Everest Group Ltd EG (G3223R108) 5,671 $2,098,610.26
1.17% F5 Inc FFIV (315616102) 5,344 $2,055,462.72
1.15% Regeneron Pharmaceuticals Inc REGN (75886F107) 2,425 $2,022,547.00
1.13% IAMGOLD Corp IAG (450913108) 93,671 $1,980,204.94
1.13% Paycom Software Inc PAYC (70432V102) 8,696 $1,988,731.72
1.11% Vertex Pharmaceuticals Inc VRTX (92532F100) 3,562 $1,952,154.10
1.09% Johnson & Johnson JNJ (478160104) 7,110 $1,921,406.40
1.06% Telefonaktiebolaget LM Ericsson ERIC (294821608) 182,270 $1,862,799.40
1.06% Tenet Healthcare Corp THC (88033G407) 6,644 $1,865,435.88
1.04% Gilead Sciences Inc GILD (375558103) 12,522 $1,829,714.64
1.04% TE Connectivity PLC TEL (G87052109) 8,989 $1,829,441.28
1.03% Barclays PLC BCS (06738E204) 67,484 $1,810,595.72
1.03% NVIDIA Corp NVDA (67066G104) 8,420 $1,807,942.40
0.99% Dycom Industries Inc DY (267475101) 4,436 $1,743,126.20
0.98% Reinsurance Group of America Inc RGA (759351604) 7,081 $1,721,603.53
0.97% Broadcom Inc AVGO (11135F101) 4,647 $1,712,187.15
0.96% Laureate Education Inc LAUR (518613203) 45,228 $1,694,240.88
0.96% Merck & Co Inc MRK (58933Y105) 11,057 $1,686,745.35
0.94% HF Sinclair Corp DINO (403949100) 17,031 $1,657,456.92
0.94% Qualys Inc QLYS (74758T303) 9,136 $1,662,569.28
0.92% ELEVANCE HEALTH INC ELV (036752103) 4,057 $1,624,990.78
0.92% EMCOR Group Inc EME (29084Q100) 2,087 $1,620,805.94
0.91% Oceaneering International Inc OII (675232102) 30,253 $1,603,409.00
0.91% Sanmina Corp SANM (801056102) 8,460 $1,598,009.40
0.91% SLB Ltd SLB (806857108) 29,637 $1,596,545.19
0.89% Biogen Inc BIIB (09062X103) 7,261 $1,574,039.58
0.88% HCA Healthcare Inc HCA (40412C101) 3,601 $1,545,513.19
0.87% Agnico Eagle Mines Ltd AEM (008474108) 7,070 $1,527,544.20
0.86% Bristol-Myers Squibb Co BMY (110122108) 22,708 $1,521,663.08
0.85% Eldorado Gold Corp EGO (284902509) 32,867 $1,502,679.24
0.84% NetScout Systems Inc NTCT (64115T104) 38,172 $1,469,240.28
0.83% Lam Research Corp LRCX (512807306) 4,630 $1,453,820.00
0.82% Baker Hughes Co BKR (05722G100) 23,009 $1,434,381.06
0.81% Automatic Data Processing Inc ADP (053015103) 5,081 $1,426,795.61
0.81% Plexus Corp PLXS (729132100) 5,907 $1,418,506.98
0.80% GEN DIGITAL INC GEN (668771108) 48,661 $1,407,762.73
0.80% Paychex Inc PAYX (704326107) 11,258 $1,401,339.55
0.80% PBF Energy Inc PBF (69318G106) 19,072 $1,402,364.16
0.79% Expeditors International of Washington Inc EXPD (302130109) 7,372 $1,384,535.32
0.78% Covista Inc CVSA (00737L103) 10,396 $1,375,910.60
0.78% US Bancorp USB (902973304) 21,977 $1,363,672.85
0.77% PNC Financial Services Group Inc/The PNC (693475105) 5,601 $1,361,771.13
0.77% Travelers Cos Inc/The TRV (89417E109) 3,706 $1,347,427.48
0.76% Pfizer Inc PFE (717081103) 47,719 $1,339,472.33
0.72% Check Point Software Technologies Ltd CHKP (M22465104) 9,742 $1,271,818.10
0.70% US BANK MMDA - USBGFS 9 09/01/2037 8AMMF0JA0 (8AMMF0JA0) 1,239,608 $1,239,608.37
0.69% United Therapeutics Corp UTHR (91307C102) 2,359 $1,210,450.08
0.69% Valmont Industries Inc VMI (920253101) 2,513 $1,220,890.79
0.68% Granite Construction Inc GVA (387328107) 9,629 $1,191,492.46
0.67% GSK PLC GSK (37733W204) 22,561 $1,182,422.01
0.66% UiPath Inc PATH (90364P105) 70,897 $1,162,001.83
0.65% Perdoceo Education Corp PRDO (71363P106) 34,512 $1,139,586.24
0.64% Allstate Corp/The ALL (020002101) 4,450 $1,129,543.50
0.64% Shell PLC SHEL (780259305) 12,093 $1,128,639.69
0.63% Assurant Inc AIZ (04621X108) 3,876 $1,100,939.04
0.59% Paylocity Holding Corp PCTY (70438V106) 6,822 $1,046,085.48
0.58% Hartford Insurance Group Inc/The HIG (416515104) 7,516 $1,022,927.60
0.58% HealthEquity Inc HQY (42226A107) 9,633 $1,015,414.53
0.57% Benchmark Electronics Inc BHE (08160H101) 13,754 $999,090.56
0.57% Carnival Corp Ltd CCL (G2004J103) 38,743 $996,857.39
0.57% TriNet Group Inc TNET (896288107) 14,296 $1,007,582.08
0.56% CH Robinson Worldwide Inc CHRW (12541W209) 6,952 $984,611.76
0.56% Pearson PLC PSO (705015105) 59,988 $976,604.64
0.55% Progress Software Corp PRGS (743312100) 21,684 $961,902.24
0.55% United Airlines Holdings Inc UAL (910047109) 8,588 $971,903.96
0.54% Primoris Services Corp PRIM (74164F103) 12,418 $958,421.24
0.53% Equinox Gold Corp EQX (29446Y502) 69,270 $937,223.10
0.53% Robert Half Inc RHI (770323103) 20,651 $924,132.25
0.52% Analog Devices Inc ADI (032654105) 2,432 $907,354.88
0.52% CVS Health Corp CVS (126650100) 9,744 $906,386.88
0.52% Tenaris SA TS (88031M109) 17,530 $923,129.80
0.50% Archrock Inc AROC (03957W106) 27,840 $885,312.00
0.49% NOV Inc NOV (62955J103) 42,061 $858,885.62
0.48% Digi International Inc DGII (253798102) 11,254 $843,037.14
0.48% ENCOMPASS HEALTH CORP EHC (29261A100) 6,959 $837,237.29
0.48% Mercury General Corp MCY (589400100) 8,041 $849,933.70
0.47% Pan American Silver Corp PAAS (697900108) 15,474 $818,785.05
0.47% SiriusPoint Ltd SPNT (G8192H106) 34,655 $818,897.65
0.46% Weatherford International PLC WFRD (G48833118) 8,879 $803,638.29
0.45% Markel Group Inc MKL (570535104) 443 $795,459.66
0.43% QUALCOMM Inc QCOM (747525103) 4,755 $764,366.25
0.42% Graham Holdings Co GHC (384637104) 629 $733,998.97
0.42% Korn Ferry KFY (500643200) 8,720 $741,723.20
0.42% Universal Health Services Inc UHS (913903100) 4,158 $737,047.08
0.41% CTS Corp CTS (126501105) 12,373 $714,417.02
0.41% NETGEAR Inc NTGR (64111Q104) 34,512 $725,442.24
0.40% Hanover Insurance Group Inc/The THG (410867105) 3,162 $705,631.92
0.40% Universal Technical Institute Inc UTI (913915104) 31,443 $702,751.05
0.39% Hub Group Inc HUBG (443320106) 16,981 $691,636.13
0.38% Urban Outfitters Inc URBN (917047102) 9,017 $669,422.08
0.38% White Mountains Insurance Group Ltd WTM (G9618E107) 318 $671,282.10
0.36% GXO Logistics Inc GXO (36262G101) 14,006 $640,354.32
0.36% NXP Semiconductors NV NXPI (N6596X109) 2,845 $641,718.20
0.33% Diodes Inc DIOD (254543101) 6,196 $582,671.84
0.31% Fedex Freight Holding Co Inc FDXF (314352105) 3,990 $547,906.80
0.31% Gap Inc/The GAP (364760108) 27,282 $540,183.60
0.30% OneSpan Inc OSPN (68287N100) 33,355 $524,674.15
0.29% GLOBALFOUNDRIES Inc GFS (G39387108) 10,488 $503,948.40
0.28% Cirrus Logic Inc CRUS (172755100) 4,273 $492,805.09
0.05% Cash & Other Cash&Other $85,884.03

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