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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 11, 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:
    $172,850,985
  • 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 11, 2026
NAV Price
Net Asset Value $47.92 Closing Price $48.29
Daily Change $-0.09 Daily Change $-0.22
Daily Change -0.19% Daily Change -0.45%
    Premium/Discount 0.77%
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%

Percentage of Net Assets Name Identifier (Cusip) Shares Held Market Value
2.07% Alphabet Inc GOOGL (02079K305) 10,403 $3,576,551.40
2.04% Dell Technologies Inc DELL (24703L202) 7,987 $3,522,027.39
1.99% Microsoft Corp MSFT (594918104) 6,822 $3,436,991.82
1.91% Cardinal Health Inc CAH (14149Y108) 13,767 $3,307,659.42
1.84% Cisco Systems Inc CSCO (17275R102) 26,405 $3,179,954.15
1.83% McKesson Corp MCK (58155Q103) 3,499 $3,155,293.23
1.67% Advanced Micro Devices Inc AMD (007903107) 6,103 $2,894,774.96
1.50% Flex Ltd FLEX (Y2573F102) 21,235 $2,599,376.35
1.50% Meta Platforms Inc META (30303M102) 4,340 $2,600,180.80
1.46% FedEx Corp FDX (31428X106) 7,822 $2,522,047.46
1.46% JPMORGAN CHASE & CO. JPM (46625H100) 6,979 $2,526,677.16
1.44% Citigroup Inc C (172967424) 18,363 $2,493,144.51
1.41% Jabil Inc JBL (466313103) 6,815 $2,430,297.15
1.34% United Parcel Service Inc UPS (911312106) 22,115 $2,309,469.45
1.31% Bank of America Corp BAC (060505104) 35,258 $2,256,512.00
1.31% Cencora Inc COR (03073E105) 6,782 $2,264,306.34
1.25% F5 Inc FFIV (315616102) 5,236 $2,167,704.00
1.23% Kinross Gold Corp KGC (496902404) 78,068 $2,126,572.32
1.22% Canadian Imperial Bank of Commerce CM (136069101) 17,782 $2,115,346.72
1.20% ServiceNow Inc NOW (81762P102) 16,328 $2,082,473.12
1.20% RenaissanceRe Holdings Ltd RNR (G7496G103) 6,548 $2,072,572.96
1.18% Everest Group Ltd EG (G3223R108) 5,557 $2,032,194.90
1.12% Amgen Inc AMGN (031162100) 4,681 $1,939,338.30
1.11% TE Connectivity PLC TEL (G87052109) 8,806 $1,925,784.14
1.10% Broadcom Inc AVGO (11135F101) 4,554 $1,894,828.32
1.10% Regeneron Pharmaceuticals Inc REGN (75886F107) 2,377 $1,894,469.00
1.07% Vertex Pharmaceuticals Inc VRTX (92532F100) 3,490 $1,848,478.50
1.06% Barclays PLC BCS (06738E204) 66,110 $1,840,502.40
1.05% Johnson & Johnson JNJ (478160104) 6,966 $1,809,766.80
1.05% Paycom Software Inc PAYC (70432V102) 8,519 $1,807,987.37
1.04% Telefonaktiebolaget LM Ericsson ERIC (294821608) 178,559 $1,798,089.13
1.04% NVIDIA Corp NVDA (67066G104) 8,249 $1,794,157.50
1.01% Dycom Industries Inc DY (267475101) 4,346 $1,752,220.28
0.98% Qualys Inc QLYS (74758T303) 8,950 $1,685,374.50
0.98% Reinsurance Group of America Inc RGA (759351604) 6,937 $1,697,137.05
0.98% Tenet Healthcare Corp THC (88033G407) 6,509 $1,688,760.05
0.97% EMCOR Group Inc EME (29084Q100) 2,045 $1,670,478.70
0.97% Sanmina Corp SANM (801056102) 8,289 $1,680,594.75
0.96% Gilead Sciences Inc GILD (375558103) 12,267 $1,665,490.59
0.96% IAMGOLD Corp IAG (450913108) 91,763 $1,666,416.08
0.94% Laureate Education Inc LAUR (518613203) 44,307 $1,625,180.76
0.91% Plexus Corp PLXS (729132100) 5,787 $1,564,341.84
0.90% ELEVANCE HEALTH INC ELV (036752103) 3,976 $1,552,111.12
0.90% SLB Ltd SLB (806857108) 29,034 $1,558,545.12
0.87% Oceaneering International Inc OII (675232102) 29,638 $1,504,424.88
0.85% Baker Hughes Co BKR (05722G100) 22,541 $1,460,882.21
0.84% Biogen Inc BIIB (09062X103) 7,114 $1,450,473.46
0.84% HCA Healthcare Inc HCA (40412C101) 3,529 $1,451,971.76
0.84% NetScout Systems Inc NTCT (64115T104) 37,395 $1,443,447.00
0.83% HF Sinclair Corp DINO (403949100) 16,686 $1,427,487.30
0.82% Bristol-Myers Squibb Co BMY (110122108) 22,246 $1,415,068.06
0.82% Lam Research Corp LRCX (512807306) 4,537 $1,412,867.17
0.82% Merck & Co Inc MRK (58933Y105) 10,832 $1,412,709.44
0.81% PNC Financial Services Group Inc/The PNC (693475105) 5,487 $1,394,960.01
0.80% GEN DIGITAL INC GEN (668771108) 47,671 $1,382,935.71
0.80% US Bancorp USB (902973304) 21,530 $1,384,163.70
0.79% Travelers Cos Inc/The TRV (89417E109) 3,631 $1,363,839.91
0.78% Automatic Data Processing Inc ADP (053015103) 4,979 $1,349,757.11
0.77% Paychex Inc PAYX (704326107) 11,030 $1,337,939.00
0.75% Covista Inc CVSA (00737L103) 10,186 $1,288,325.28
0.75% PBF Energy Inc PBF (69318G106) 18,685 $1,295,804.75
0.74% Expeditors International of Washington Inc EXPD (302130109) 7,222 $1,279,810.62
0.73% Agnico Eagle Mines Ltd AEM (008474108) 6,926 $1,258,800.50
0.73% Eldorado Gold Corp EGO (284902509) 32,198 $1,258,619.82
0.72% Pfizer Inc PFE (717081103) 46,747 $1,244,405.14
0.71% Check Point Software Technologies Ltd CHKP (M22465104) 9,544 $1,232,321.28
0.70% Valmont Industries Inc VMI (920253101) 2,462 $1,214,676.94
0.69% US BANK MMDA - USBGFS 9 09/01/2037 8AMMF0JA0 (8AMMF0JA0) 1,195,640 $1,195,639.57
0.69% United Therapeutics Corp UTHR (91307C102) 2,311 $1,191,320.50
0.68% Granite Construction Inc GVA (387328107) 9,434 $1,182,740.58
0.66% Allstate Corp/The ALL (020002101) 4,360 $1,143,322.80
0.65% GSK PLC GSK (37733W204) 22,102 $1,124,991.80
0.63% Benchmark Electronics Inc BHE (08160H101) 13,475 $1,095,787.00
0.63% UiPath Inc PATH (90364P105) 69,454 $1,091,816.88
0.62% Assurant Inc AIZ (04621X108) 3,798 $1,068,795.18
0.62% Shell PLC SHEL (780259305) 11,847 $1,072,153.50
0.61% Carnival Corp Ltd CCL (G2004J103) 37,954 $1,052,464.42
0.61% Perdoceo Education Corp PRDO (71363P106) 33,810 $1,056,224.40
0.61% United Airlines Holdings Inc UAL (910047109) 8,414 $1,062,772.34
0.59% Hartford Insurance Group Inc/The HIG (416515104) 7,363 $1,024,046.04
0.58% HealthEquity Inc HQY (42226A107) 9,438 $996,369.66
0.58% Primoris Services Corp PRIM (74164F103) 12,166 $999,558.56
0.57% CH Robinson Worldwide Inc CHRW (12541W209) 6,811 $988,276.10
0.56% Paylocity Holding Corp PCTY (70438V106) 6,684 $969,514.20
0.55% Pearson PLC PSO (705015105) 58,767 $949,674.72
0.54% TriNet Group Inc TNET (896288107) 14,005 $932,172.80
0.53% Analog Devices Inc ADI (032654105) 2,384 $918,555.20
0.53% Digi International Inc DGII (253798102) 11,026 $921,553.08
0.53% Progress Software Corp PRGS (743312100) 21,243 $916,635.45
0.53% Tenaris SA TS (88031M109) 17,173 $917,725.12
0.52% Archrock Inc AROC (03957W106) 27,273 $899,736.27
0.52% CVS Health Corp CVS (126650100) 9,546 $892,551.00
0.50% NOV Inc NOV (62955J103) 41,206 $866,150.12
0.49% ENCOMPASS HEALTH CORP EHC (29261A100) 6,818 $854,636.30
0.49% Robert Half Inc RHI (770323103) 20,231 $852,534.34
0.48% Mercury General Corp MCY (589400100) 7,879 $833,283.04
0.48% Weatherford International PLC WFRD (G48833118) 8,699 $821,446.57
0.47% NETGEAR Inc NTGR (64111Q104) 33,810 $806,368.50
0.46% Equinox Gold Corp EQX (29446Y502) 67,860 $791,247.60
0.46% Markel Group Inc MKL (570535104) 434 $799,011.36
0.45% CTS Corp CTS (126501105) 12,121 $777,440.94
0.45% Pan American Silver Corp PAAS (697900108) 15,159 $785,084.61
0.45% Universal Technical Institute Inc UTI (913915104) 30,804 $785,193.96
0.44% QUALCOMM Inc QCOM (747525103) 4,659 $757,926.12
0.44% SiriusPoint Ltd SPNT (G8192H106) 33,950 $765,572.50
0.42% Graham Holdings Co GHC (384637104) 617 $724,253.11
0.41% Korn Ferry KFY (500643200) 8,543 $706,933.25
0.41% Urban Outfitters Inc URBN (917047102) 8,834 $701,684.62
0.40% Hanover Insurance Group Inc/The THG (410867105) 3,099 $687,792.06
0.40% Universal Health Services Inc UHS (913903100) 4,074 $687,365.28
0.38% NXP Semiconductors NV NXPI (N6596X109) 2,788 $659,027.44
0.38% White Mountains Insurance Group Ltd WTM (G9618E107) 312 $658,947.12
0.37% GXO Logistics Inc GXO (36262G101) 13,721 $640,359.07
0.37% Hub Group Inc HUBG (443320106) 16,636 $632,168.00
0.36% Diodes Inc DIOD (254543101) 6,070 $626,120.50
0.32% Fedex Freight Holding Co Inc FDXF (314352105) 3,909 $545,344.59
0.32% Gap Inc/The GAP (364760108) 26,727 $560,197.92
0.31% OneSpan Inc OSPN (68287N100) 32,677 $532,635.10
0.30% Cirrus Logic Inc CRUS (172755100) 4,186 $510,650.14
0.30% GLOBALFOUNDRIES Inc GFS (G39387108) 10,275 $522,175.50
0.00% Cash & Other Cash&Other $-5,954.39

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