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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 31, 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:
    $179,192,184
  • Shares Outstanding:
    3,731,875
  • 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 August 31, 2026
NAV Price
Net Asset Value $48.02 Closing Price $48.06
Daily Change $-0.01 Daily Change $0.02
Daily Change -0.02% Daily Change 0.04%
    Premium/Discount 0.09%
Bid-Ask Spead (30 day median) 0.08%

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 31, 2026
Percentage of Net Assets Name Identifier (Cusip) Shares Held Market Value
2.10% Dell Technologies Inc DELL (24703L202) 8,262 $3,767,554.62
2.04% Alphabet Inc GOOGL (02079K305) 10,763 $3,652,424.05
2.00% Microsoft Corp MSFT (594918104) 7,057 $3,579,945.53
1.86% Cardinal Health Inc CAH (14149Y108) 14,242 $3,341,458.04
1.79% McKesson Corp MCK (58155Q103) 3,619 $3,200,571.22
1.68% Cisco Systems Inc CSCO (17275R102) 27,320 $3,018,586.80
1.66% Advanced Micro Devices Inc AMD (007903107) 6,313 $2,971,655.36
1.48% FedEx Corp FDX (31428X106) 8,092 $2,649,320.80
1.43% JPMORGAN CHASE & CO. JPM (46625H100) 7,219 $2,570,108.38
1.43% Meta Platforms Inc META (30303M102) 4,490 $2,569,806.60
1.40% Citigroup Inc C (172967424) 18,998 $2,500,516.76
1.40% ServiceNow Inc NOW (81762P102) 16,893 $2,499,995.07
1.38% Kinross Gold Corp KGC (496902404) 80,773 $2,478,115.64
1.34% Flex Ltd FLEX (Y2573F102) 21,970 $2,400,222.50
1.33% United Parcel Service Inc UPS (911312106) 22,880 $2,384,782.40
1.27% Cencora Inc COR (03073E105) 7,017 $2,270,701.20
1.26% Bank of America Corp BAC (060505104) 36,478 $2,259,447.32
1.24% RenaissanceRe Holdings Ltd RNR (G7496G103) 6,773 $2,219,105.72
1.23% F5 Inc FFIV (315616102) 5,416 $2,205,016.08
1.20% Everest Group Ltd EG (G3223R108) 5,747 $2,153,113.55
1.20% Jabil Inc JBL (466313103) 7,050 $2,152,083.00
1.18% Paycom Software Inc PAYC (70432V102) 8,814 $2,107,427.40
1.17% Canadian Imperial Bank of Commerce CM (136069101) 18,397 $2,088,427.44
1.16% Amgen Inc AMGN (031162100) 4,841 $2,081,049.08
1.10% Regeneron Pharmaceuticals Inc REGN (75886F107) 2,457 $1,963,339.56
1.10% Vertex Pharmaceuticals Inc VRTX (92532F100) 3,610 $1,965,717.20
1.08% IAMGOLD Corp IAG (450913108) 94,943 $1,941,584.35
1.07% Johnson & Johnson JNJ (478160104) 7,206 $1,915,715.10
1.05% NVIDIA Corp NVDA (67066G104) 8,534 $1,884,136.52
1.04% Telefonaktiebolaget LM Ericsson ERIC (294821608) 184,744 $1,864,066.96
1.04% Gilead Sciences Inc GILD (375558103) 12,692 $1,857,347.28
1.04% TE Connectivity PLC TEL (G87052109) 9,111 $1,870,032.75
1.03% Marathon Petroleum Corp MPC (56585A102) 4,963 $1,852,787.16
1.02% Barclays PLC BCS (06738E204) 68,400 $1,822,176.00
1.02% Chevron Corp CVX (166764100) 8,885 $1,831,553.90
1.01% SLB Ltd SLB (806857108) 30,039 $1,805,343.90
1.00% Tenet Healthcare Corp THC (88033G407) 6,734 $1,790,637.94
0.99% Reinsurance Group of America Inc RGA (759351604) 7,177 $1,765,829.08
0.99% ExxonMobil Holdings Corp XOM (30233Q108) 11,020 $1,773,669.00
0.98% HF Sinclair Corp DINO (403949100) 17,261 $1,753,890.21
0.98% EOG Resources Inc EOG (26875P101) 12,085 $1,751,841.60
0.97% Broadcom Inc AVGO (11135F101) 4,709 $1,743,931.06
0.96% Laureate Education Inc LAUR (518613203) 45,842 $1,720,450.26
0.96% Qualys Inc QLYS (74758T303) 9,260 $1,723,656.40
0.94% Sanmina Corp SANM (801056102) 8,574 $1,686,677.28
0.92% Merck & Co Inc MRK (58933Y105) 11,207 $1,655,946.32
0.90% ELEVANCE HEALTH INC ELV (036752103) 4,111 $1,613,731.94
0.89% Biogen Inc BIIB (09062X103) 7,359 $1,594,327.35
0.89% Oceaneering International Inc OII (675232102) 30,663 $1,587,116.88
0.86% Bristol-Myers Squibb Co BMY (110122108) 23,016 $1,537,698.96
0.85% GEN DIGITAL INC GEN (668771108) 49,321 $1,528,951.00
0.84% HCA Healthcare Inc HCA (40412C101) 3,649 $1,512,328.05
0.84% NetScout Systems Inc NTCT (64115T104) 38,690 $1,502,332.70
0.83% Baker Hughes Co BKR (05722G100) 23,321 $1,482,049.55
0.83% Eldorado Gold Corp EGO (284902509) 33,313 $1,491,631.22
0.82% Automatic Data Processing Inc ADP (053015103) 5,149 $1,473,437.84
0.81% Agnico Eagle Mines Ltd AEM (008474108) 7,166 $1,452,745.27
0.81% Paychex Inc PAYX (704326107) 11,410 $1,452,949.40
0.80% Plexus Corp PLXS (729132100) 5,987 $1,433,706.89
0.79% Expeditors International of Washington Inc EXPD (302130109) 7,472 $1,417,064.80
0.79% Lam Research Corp LRCX (512807306) 4,692 $1,414,591.08
0.79% PBF Energy Inc PBF (69318G106) 19,330 $1,410,896.70
0.78% US BANK MMDA - USBGFS 9 09/01/2037 8AMMF0JA0 (8AMMF0JA0) 1,395,043 $1,395,043.04
0.78% Covista Inc CVSA (00737L103) 10,536 $1,394,228.88
0.77% Check Point Software Technologies Ltd CHKP (M22465104) 9,874 $1,371,597.34
0.77% Pfizer Inc PFE (717081103) 48,367 $1,376,524.82
0.77% Travelers Cos Inc/The TRV (89417E109) 3,756 $1,374,433.08
0.77% US Bancorp USB (902973304) 22,275 $1,371,694.50
0.76% PNC Financial Services Group Inc/The PNC (693475105) 5,677 $1,360,379.51
0.75% UiPath Inc PATH (90364P105) 71,859 $1,341,607.53
0.68% United Therapeutics Corp UTHR (91307C102) 2,391 $1,220,318.58
0.65% Allstate Corp/The ALL (020002101) 4,510 $1,162,678.00
0.65% Perdoceo Education Corp PRDO (71363P106) 34,980 $1,156,788.60
0.64% GSK PLC GSK (37733W204) 22,867 $1,149,066.75
0.63% Shell PLC SHEL (780259305) 12,257 $1,120,902.65
0.62% Assurant Inc AIZ (04621X108) 3,928 $1,107,146.08
0.62% Paylocity Holding Corp PCTY (70438V106) 6,914 $1,107,761.08
0.59% CH Robinson Worldwide Inc CHRW (12541W209) 7,046 $1,054,504.36
0.58% Hartford Insurance Group Inc/The HIG (416515104) 7,618 $1,041,990.04
0.57% Progress Software Corp PRGS (743312100) 21,978 $1,016,922.06
0.57% TriNet Group Inc TNET (896288107) 14,490 $1,018,502.10
0.56% Pearson PLC PSO (705015105) 60,802 $1,007,489.14
0.55% Benchmark Electronics Inc BHE (08160H101) 13,940 $979,703.20
0.55% Tenaris SA TS (88031M109) 17,768 $992,698.16
0.53% HealthEquity Inc HQY (42226A107) 9,763 $942,520.02
0.53% Robert Half Inc RHI (770323103) 20,931 $949,011.54
0.52% Carnival Corp Ltd CCL (G2004J103) 39,269 $938,136.41
0.52% CVS Health Corp CVS (126650100) 9,876 $927,455.16
0.52% United Airlines Holdings Inc UAL (910047109) 8,704 $939,944.96
0.51% NOV Inc NOV (62955J103) 42,631 $907,613.99
0.50% Analog Devices Inc ADI (032654105) 2,464 $889,602.56
0.50% Archrock Inc AROC (03957W106) 28,218 $889,431.36
0.50% Equinox Gold Corp EQX (29446Y502) 70,210 $902,900.60
0.49% Weatherford International PLC WFRD (G48833118) 8,999 $879,832.23
0.48% Digi International Inc DGII (253798102) 11,406 $854,765.64
0.47% ENCOMPASS HEALTH CORP EHC (29261A100) 7,053 $847,841.13
0.47% SiriusPoint Ltd SPNT (G8192H106) 35,125 $849,673.75
0.46% Mercury General Corp MCY (589400100) 8,149 $830,872.04
0.46% QUALCOMM Inc QCOM (747525103) 4,819 $821,543.12
0.45% Markel Group Inc MKL (570535104) 449 $809,506.59
0.45% Pan American Silver Corp PAAS (697900108) 15,684 $814,313.28
0.42% Korn Ferry KFY (500643200) 8,838 $756,090.90
0.41% NETGEAR Inc NTGR (64111Q104) 34,980 $740,176.80
0.41% Urban Outfitters Inc URBN (917047102) 9,139 $737,425.91
0.40% CTS Corp CTS (126501105) 12,541 $708,190.27
0.40% Graham Holdings Co GHC (384637104) 637 $719,102.93
0.40% Hanover Insurance Group Inc/The THG (410867105) 3,204 $724,456.44
0.40% Universal Health Services Inc UHS (913903100) 4,214 $716,927.82
0.38% GXO Logistics Inc GXO (36262G101) 14,196 $677,575.08
0.38% Hub Group Inc HUBG (443320106) 17,211 $686,202.57
0.38% White Mountains Insurance Group Ltd WTM (G9618E107) 322 $676,847.22
0.36% NXP Semiconductors NV NXPI (N6596X109) 2,883 $647,637.12
0.34% Gap Inc/The GAP (364760108) 27,652 $616,916.12
0.32% Diodes Inc DIOD (254543101) 6,280 $570,224.00
0.31% OneSpan Inc OSPN (68287N100) 33,807 $558,491.64
0.30% Fedex Freight Holding Co Inc FDXF (314352105) 4,044 $540,844.56
0.27% GLOBALFOUNDRIES Inc GFS (G39387108) 10,630 $475,054.70
0.26% Cirrus Logic Inc CRUS (172755100) 4,331 $474,287.81
0.04% Cash & Other Cash&Other $78,544.41

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