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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 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:
    $203,722,349
  • Shares Outstanding:
    4,231,875
  • 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 October 12, 2026
NAV Price
Net Asset Value $48.14 Closing Price $48.16
Daily Change $0.03 Daily Change $0.03
Daily Change 0.06% Daily Change 0.06%
    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 12, 2026
Percentage of Net Assets Name Identifier (Cusip) Shares Held Market Value
2.65% Dell Technologies Inc DELL (24703L202) 9,527 $5,494,792.52
2.12% Microsoft Corp MSFT (594918104) 8,138 $4,403,878.70
2.11% Alphabet Inc GOOGL (02079K305) 12,419 $4,380,429.68
2.09% Advanced Micro Devices Inc AMD (007903107) 7,279 $4,325,472.96
1.92% McKesson Corp MCK (58155Q103) 4,171 $3,986,474.96
1.89% Cardinal Health Inc CAH (14149Y108) 16,427 $3,910,940.16
1.86% Meta Platforms Inc META (30303M102) 5,180 $3,848,532.80
1.75% Cisco Systems Inc CSCO (17275R102) 31,529 $3,636,554.86
1.43% F5 Inc FFIV (315616102) 6,244 $2,956,471.56
1.43% Flex Ltd FLEX (Y2573F102) 25,351 $2,972,151.24
1.39% Citigroup Inc C (172967424) 21,919 $2,891,554.48
1.34% JPMORGAN CHASE & CO. JPM (46625H100) 8,323 $2,782,378.90
1.32% FedEx Corp FDX (31428X106) 9,334 $2,727,674.82
1.32% ServiceNow Inc NOW (81762P102) 19,492 $2,735,117.44
1.28% RenaissanceRe Holdings Ltd RNR (G7496G103) 7,808 $2,645,896.96
1.27% Cencora Inc COR (03073E105) 8,098 $2,632,335.88
1.27% Marathon Petroleum Corp MPC (56585A102) 5,722 $2,625,310.82
1.22% Jabil Inc JBL (466313103) 8,131 $2,536,953.31
1.21% United Parcel Service Inc UPS (911312106) 26,399 $2,516,880.66
1.19% Everest Group Ltd EG (G3223R108) 6,621 $2,466,521.13
1.18% HF Sinclair Corp DINO (403949100) 19,906 $2,446,646.46
1.15% Paycom Software Inc PAYC (70432V102) 10,171 $2,390,286.71
1.13% Canadian Imperial Bank of Commerce CM (136069101) 21,226 $2,335,072.26
1.12% Amgen Inc AMGN (031162100) 5,577 $2,328,787.89
1.11% Bank of America Corp BAC (060505104) 42,090 $2,297,272.20
1.10% TE Connectivity PLC TEL (G87052109) 10,514 $2,284,481.92
1.07% NVIDIA Corp NVDA (67066G104) 9,845 $2,228,120.40
1.06% Chevron Corp CVX (166764100) 10,242 $2,202,030.00
1.06% Gilead Sciences Inc GILD (375558103) 14,647 $2,203,348.21
1.06% Johnson & Johnson JNJ (478160104) 8,310 $2,191,596.30
1.06% Kinross Gold Corp KGC (496902404) 93,216 $2,195,236.80
1.06% ExxonMobil Holdings Corp XOM (30233Q108) 12,767 $2,197,839.05
1.04% Regeneron Pharmaceuticals Inc REGN (75886F107) 2,825 $2,154,938.25
1.04% Reinsurance Group of America Inc RGA (759351604) 8,281 $2,152,645.95
1.02% EOG Resources Inc EOG (26875P101) 13,993 $2,106,086.43
1.02% Sanmina Corp SANM (801056102) 9,885 $2,112,819.90
1.02% Vertex Pharmaceuticals Inc VRTX (92532F100) 4,162 $2,110,134.00
1.01% Laureate Education Inc LAUR (518613203) 52,903 $2,094,429.77
1.01% Qualys Inc QLYS (74758T303) 10,686 $2,102,684.22
1.01% Tenet Healthcare Corp THC (88033G407) 7,769 $2,087,996.44
0.98% IAMGOLD Corp IAG (450913108) 109,571 $2,034,733.47
0.96% ELEVANCE HEALTH INC ELV (036752103) 4,732 $1,997,329.88
0.96% Telefonaktiebolaget LM Ericsson ERIC (294821608) 213,195 $1,997,637.15
0.94% Biogen Inc BIIB (09062X103) 8,486 $1,946,773.26
0.93% Broadcom Inc AVGO (11135F101) 5,422 $1,923,346.06
0.93% HCA Healthcare Inc HCA (40412C101) 4,201 $1,926,578.60
0.91% Merck & Co Inc MRK (58933Y105) 12,932 $1,880,959.40
0.91% PBF Energy Inc PBF (69318G106) 22,297 $1,895,690.94
0.88% US BANK MMDA - USBGFS 9 09/01/2037 8AMMF0JA0 (8AMMF0JA0) 1,832,168 $1,832,167.72
0.88% Barclays PLC BCS (06738E204) 78,934 $1,820,218.04
0.86% NetScout Systems Inc NTCT (64115T104) 44,647 $1,788,112.35
0.85% Plexus Corp PLXS (729132100) 6,907 $1,772,059.92
0.82% SLB Ltd SLB (806857108) 34,662 $1,690,465.74
0.81% Lam Research Corp LRCX (512807306) 5,405 $1,673,171.80
0.80% Expeditors International of Washington Inc EXPD (302130109) 8,622 $1,667,581.02
0.78% Automatic Data Processing Inc ADP (053015103) 5,931 $1,623,967.11
0.78% Travelers Cos Inc/The TRV (89417E109) 4,331 $1,609,746.08
0.76% Oceaneering International Inc OII (675232102) 35,378 $1,571,490.76
0.76% Pfizer Inc PFE (717081103) 55,819 $1,585,259.60
0.75% Agnico Eagle Mines Ltd AEM (008474108) 8,270 $1,556,248.60
0.75% Covista Inc CVSA (00737L103) 12,146 $1,565,255.02
0.74% Bristol-Myers Squibb Co BMY (110122108) 26,558 $1,529,209.64
0.74% Check Point Software Technologies Ltd CHKP (M22465104) 11,392 $1,530,173.44
0.73% Baker Hughes Co BKR (05722G100) 26,909 $1,511,747.62
0.73% United Therapeutics Corp UTHR (91307C102) 2,759 $1,517,725.90
0.71% US Bancorp USB (902973304) 25,702 $1,475,808.84
0.70% Eldorado Gold Corp EGO (284902509) 38,442 $1,443,112.68
0.70% PNC Financial Services Group Inc/The PNC (693475105) 6,551 $1,449,474.26
0.69% Shell PLC SHEL (780259305) 14,143 $1,436,787.37
0.66% Paychex Inc PAYX (704326107) 13,158 $1,376,853.12
0.66% Perdoceo Education Corp PRDO (71363P106) 40,362 $1,361,410.26
0.64% GEN DIGITAL INC GEN (668771108) 56,911 $1,328,871.85
0.62% Benchmark Electronics Inc BHE (08160H101) 16,079 $1,275,707.86
0.60% GSK PLC GSK (37733W204) 26,386 $1,238,031.12
0.60% Paylocity Holding Corp PCTY (70438V106) 7,972 $1,243,871.16
0.59% Assurant Inc AIZ (04621X108) 4,526 $1,215,819.38
0.58% Allstate Corp/The ALL (020002101) 5,200 $1,209,520.00
0.58% Carnival Corp Ltd CCL (G2004J103) 45,318 $1,200,020.64
0.58% Pearson PLC PSO (705015105) 70,163 $1,208,206.86
0.57% Tenaris SA TS (88031M109) 20,505 $1,190,315.25
0.56% Dollar Tree Inc DLTR (256746108) 9,884 $1,162,457.24
0.55% Analog Devices Inc ADI (032654105) 2,832 $1,150,485.84
0.55% CH Robinson Worldwide Inc CHRW (12541W209) 8,127 $1,135,748.25
0.55% Hartford Insurance Group Inc/The HIG (416515104) 8,791 $1,144,500.29
0.53% UiPath Inc PATH (90364P105) 82,922 $1,104,521.04
0.52% TriNet Group Inc TNET (896288107) 16,721 $1,085,861.74
0.50% HealthEquity Inc HQY (42226A107) 11,258 $1,036,073.74
0.50% SiriusPoint Ltd SPNT (G8192H106) 40,530 $1,035,136.20
0.49% ENCOMPASS HEALTH CORP EHC (29261A100) 8,134 $1,012,032.28
0.48% Archrock Inc AROC (03957W106) 32,565 $987,696.45
0.48% CVS Health Corp CVS (126650100) 11,394 $999,709.56
0.48% Digi International Inc DGII (253798102) 13,154 $988,128.48
0.48% Progress Software Corp PRGS (743312100) 25,359 $988,747.41
0.47% Mercury General Corp MCY (589400100) 9,391 $964,455.70
0.47% QUALCOMM Inc QCOM (747525103) 5,555 $968,958.65
0.45% Markel Group Inc MKL (570535104) 518 $927,385.76
0.45% NOV Inc NOV (62955J103) 49,186 $929,123.54
0.45% NETGEAR Inc NTGR (64111Q104) 40,362 $931,554.96
0.44% Equinox Gold Corp EQX (29446Y502) 81,020 $907,424.00
0.42% Universal Health Services Inc UHS (913903100) 4,858 $868,756.14
0.42% Urban Outfitters Inc URBN (917047102) 10,542 $871,717.98
0.41% Graham Holdings Co GHC (384637104) 729 $858,186.09
0.40% Pan American Silver Corp PAAS (697900108) 18,099 $827,305.29
0.40% Robert Half Inc RHI (770323103) 24,151 $830,794.40
0.39% CTS Corp CTS (126501105) 14,473 $814,106.25
0.39% Hanover Insurance Group Inc/The THG (410867105) 3,687 $817,223.55
0.38% Weatherford International PLC WFRD (G48833118) 10,379 $796,692.04
0.37% GXO Logistics Inc GXO (36262G101) 16,381 $763,354.60
0.37% White Mountains Insurance Group Ltd WTM (G9618E107) 368 $767,927.68
0.36% NXP Semiconductors NV NXPI (N6596X109) 3,320 $747,697.20
0.35% Gap Inc/The GAP (364760108) 31,907 $726,841.46
0.35% Korn Ferry KFY (500643200) 10,195 $723,437.20
0.34% OneSpan Inc OSPN (68287N100) 39,005 $696,239.25
0.32% Diodes Inc DIOD (254543101) 7,246 $656,632.52
0.29% GLOBALFOUNDRIES Inc GFS (G39387108) 12,263 $592,793.42
0.26% Cirrus Logic Inc CRUS (172755100) 4,998 $531,437.34
0.25% Fedex Freight Holding Co Inc FDXF (314352105) 4,665 $527,704.80
0.25% Hub Group Inc HUBG (443320106) 19,856 $528,368.16
0.06% Cash & Other Cash&Other $122,066.74

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