Leuthold Group, LLC
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 4, 2026), Leuthold Group, LLC reported 237 stock positions worth $995.2 million. Its top holding was Dir DLY SP 500 BR 1X ETF-Usi (SPDN) at 2.6% of the portfolio, followed by Alphabet Class A (GOOGL, 2.3%) and Flex (FLEX, 2.0%). Compared with Q1 2026, it opened 33 new positions, sold out of 9, added to 28 and reduced 133. The biggest buy was Advanced Micro Devices (AMD, shares +137%) and the biggest sale Goldman Sachs (GS, shares −94%).
- Most Recent 13F
- Q2 2026
- Location
- MINNEAPOLIS, MN
- CIK
- 0001170152
- Portfolio Value
- $995.2M (Q2 2026)
- SEC Filing
- 0000897069-26-001570 ↗ filed Aug 4, 2026
Holdings Value
Holdings 237 stocks · $995.2M
| SPDN Dir DLY SP 500 BR 1X ETF-Usi | 2.64% | 3,035,510 | $26.3M | Reduce -1.3% |
| GOOGL Alphabet Inc. Class A | 2.29% | 63,893 | $22.8M | Reduce -3.8% |
| FLEX Flex Ltd. | 2.00% | 123,091 | $19.9M | Reduce -38.6% |
| MSFT Microsoft Corp. | 1.75% | 46,640 | $17.4M | Reduce -3.2% |
| CSCO Cisco Systems Inc. | 1.70% | 143,885 | $16.9M | Reduce -8.7% |
| JBL Jabil Inc. | 1.57% | 40,469 | $15.6M | Reduce -31.4% |
| CAH Cardinal Health Inc. | 1.46% | 61,075 | $14.5M | Reduce -5.2% |
| NVDA Nvidia Corp. | 1.38% | 68,568 | $13.7M | Add +51.2% |
| DELL Dell Technologies -C | 1.31% | 30,222 | $13.0M | Reduce -11.5% |
| XLK SS Technology Select Sector | 1.28% | 66,606 | $12.7M | Reduce -5.2% |
| SHY iShares 1-3 Year Treasury Bo | 1.24% | 149,887 | $12.3M | Reduce -4.5% |
| GTX Garrett Motion Inc. | 1.17% | 322,518 | $11.7M | Reduce -5.5% |
| MCK McKesson Corp. | 1.17% | 15,354 | $11.6M | Reduce -5.0% |
| FDX FedEx Corp. | 1.16% | 36,855 | $11.5M | Reduce -4.2% |
| BWX SS SPDR BB Intl Treasury BD | 1.16% | 531,295 | $11.5M | Reduce -35.9% |
| RWM Proshares Short RUSSELL2000 | 1.15% | 864,330 | $11.5M | Reduce -0.5% |
| SPIB SS SPDR P Int C Corp. ETF | 1.14% | 337,668 | $11.3M | Reduce -19.6% |
| C Citigroup Inc. | 1.13% | 80,600 | $11.3M | Reduce -5.2% |
| UPS United Parcel Service Class B | 1.12% | 103,834 | $11.2M | Reduce -4.3% |
| AMD Advanced Micro Devices | 1.08% | 18,545 | $10.8M | Add +136.7% |
| META Meta Platforms Inc. Class A | 1.08% | 19,101 | $10.8M | Reduce -5.1% |
| VTIP Vanguard Short-Term Tips | 1.06% | 209,972 | $10.5M | Add +0.6% |
| KGC Kinross Gold Corp. | 1.04% | 438,079 | $10.3M | Reduce -4.3% |
| JPM JPMorgan Chase & Co. | 1.02% | 31,099 | $10.2M | Reduce -5.0% |
| IGOV iShares International Treasu | 1.02% | 246,891 | $10.1M | Reduce -0.4% |
| IVV iShares Core S&P 500 ETF | 0.98% | 13,036 | $9.8M | Reduce -0.0% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO | 0.96% | 83,342 | $9.6M | Reduce -4.9% |
| MGA Magna International Inc. | 0.94% | 141,976 | $9.3M | Reduce -4.9% |
| SANM Sanmina Corp. | 0.93% | 36,379 | $9.2M | Reduce -5.0% |
| HCA HCA Healthcare Inc. | 0.90% | 23,005 | $9.0M | Add +27.4% |
| BAC Bank of America Corp. | 0.90% | 156,480 | $8.9M | Reduce -5.2% |
| IAG Iamgold Corp. | 0.89% | 558,547 | $8.8M | Reduce -3.8% |
| ERIC Ericsson (lm) Tel-SP ADR filed as TELEFONAKTIEBOLAGET LM ERICS | 0.86% | 767,612 | $8.6M | Reduce -5.4% |
| LRCX Lam Research Corp. | 0.86% | 19,702 | $8.5M | Reduce -5.1% |
| BCS Barclays PLC-Spons ADR | 0.86% | 316,950 | $8.5M | Reduce -4.8% |
| DVN Devon Energy Corp. | 0.85% | 204,176 | $8.4M | Add +1297.9% |
| FFIV F5 Inc. | 0.85% | 20,249 | $8.4M | Reduce -5.6% |
| COR Cencora Inc. | 0.84% | 29,647 | $8.4M | Reduce -5.2% |
| DY Dycom Industries Inc. | 0.80% | 15,719 | $7.9M | Reduce -6.1% |
| JNJ Johnson & Johnson | 0.79% | 31,085 | $7.9M | Reduce -5.0% |
| VRTX Vertex Pharmaceuticals Inc. | 0.78% | 15,640 | $7.8M | Reduce -5.0% |
| MBB iShares MBS ETF | 0.77% | 80,658 | $7.6M | Reduce -1.0% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.76% | 142,552 | $7.6M | Reduce -3.5% |
| NTCT Netscout Systems Inc. | 0.76% | 173,744 | $7.6M | Reduce -5.0% |
| PLXS Plexus Corp. | 0.76% | 25,054 | $7.5M | Reduce -5.2% |
| AMGN Amgen Inc. | 0.75% | 20,512 | $7.4M | Reduce -5.0% |
| TIP iShares Tips Bond ETF | 0.73% | 66,153 | $7.2M | New |
| EME Emcor Group Inc. | 0.73% | 8,701 | $7.2M | Reduce -5.1% |
| LAUR Laureate Education Inc. | 0.72% | 196,485 | $7.1M | Reduce -5.2% |
| IEF iShares 7-10 Year Treasury B | 0.71% | 74,708 | $7.1M | Reduce -1.0% |
| GVA Granite Construction Inc. | 0.69% | 43,371 | $6.9M | Reduce -4.8% |
| BIIB Biogen Inc. | 0.68% | 31,489 | $6.8M | Reduce -5.0% |
| GILD Gilead Sciences Inc. | 0.67% | 53,031 | $6.7M | Reduce -5.5% |
| ELV Elevance Health Inc. | 0.67% | 17,304 | $6.7M | New |
| STIP iShares 0-5 Year Tips Bond E | 0.66% | 64,077 | $6.5M | New |
| VMI Valmont Industries | 0.65% | 11,137 | $6.4M | Reduce -4.2% |
| IEFA iShares Core MSCI Eafe ETF | 0.65% | 66,478 | $6.4M | Reduce -0.0% |
| MA Mastercard Inc. Class A | 0.64% | 12,303 | $6.3M | Reduce -0.2% |
| LEA Lear Corp. | 0.62% | 45,864 | $6.1M | Reduce -4.9% |
| MRK Merck & Co. Inc. | 0.62% | 47,803 | $6.1M | Reduce -5.2% |
| ALV Autoliv Inc. | 0.62% | 52,689 | $6.1M | Reduce -4.9% |
| TEL Te Connectivity PLC | 0.61% | 30,305 | $6.1M | Reduce -26.1% |
| SLB SLB Ltd. filed as SLB LIMITED | 0.60% | 127,482 | $5.9M | Reduce -5.2% |
| THC Tenet Healthcare Corp. | 0.60% | 31,675 | $5.9M | Reduce -4.7% |
| UTI Universal Technical Institut | 0.59% | 136,531 | $5.8M | Reduce -5.2% |
| OII Oceaneering Intl Inc. | 0.58% | 142,936 | $5.8M | Reduce -4.8% |
| REGN Regeneron Pharmaceuticals | 0.58% | 9,265 | $5.8M | Reduce -5.3% |
| PNC PNC Financial Services Group | 0.58% | 23,386 | $5.8M | Reduce -5.2% |
| V Visa Inc. Class A | 0.57% | 16,544 | $5.7M | Reduce -0.2% |
| CHRW C.H. Robinson Worldwide Inc. | 0.57% | 29,954 | $5.6M | Reduce -4.3% |
| BMY Bristol-Myers Squibb Co. | 0.57% | 97,869 | $5.6M | Reduce -5.2% |
| BKR Baker Hughes Co. | 0.57% | 101,551 | $5.6M | Reduce -4.7% |
| CVSA Covista Inc. | 0.56% | 45,106 | $5.6M | Reduce -5.2% |
| USB US Bancorp | 0.56% | 92,155 | $5.6M | Reduce -5.3% |
| UTHR United Therapeutics Corp. | 0.55% | 10,184 | $5.5M | Reduce -5.1% |
| VMBS Vanguard Mortgage-Backed Sec | 0.55% | 117,868 | $5.5M | Reduce -28.6% |
| RNR Renaissancere Holdings Ltd. | 0.55% | 17,278 | $5.5M | New |
| TRV The Travelers Cos Inc. | 0.53% | 16,008 | $5.3M | Reduce -4.9% |
| EXPD Expeditors Intl Wash Inc. | 0.52% | 31,852 | $5.2M | Reduce -4.4% |
| EGO Eldorado Gold Corp. | 0.52% | 166,267 | $5.2M | Reduce -4.6% |
| GSK GSK PLC-Spon ADR | 0.51% | 97,182 | $5.1M | Reduce -5.2% |
| DINO HF Sinclair Corp. | 0.51% | 72,580 | $5.1M | New |
| PFE Pfizer Inc. | 0.49% | 202,967 | $4.9M | New |
| VONV Vanguard Russell 1000 Value | 0.48% | 45,234 | $4.8M | No change |
| PRIM Primoris Services Corp. | 0.48% | 48,040 | $4.8M | Reduce -5.6% |
| RIO Rio Tinto PLC-Spon ADR | 0.48% | 49,942 | $4.7M | Reduce -4.4% |
| HIG Hartford Insurance Group Inc. | 0.47% | 35,067 | $4.6M | Reduce -4.8% |
| BHE Benchmark Electronics Inc. | 0.46% | 46,811 | $4.6M | Reduce -6.5% |
| NXPI NXP Semiconductors NV | 0.46% | 16,370 | $4.6M | New |
| XLF SS Financial Select Sector | 0.46% | 85,223 | $4.6M | Reduce -31.1% |
| ALL Allstate Corp. | 0.46% | 19,112 | $4.5M | Reduce -5.0% |
| CRH CRH PLC | 0.46% | 42,361 | $4.5M | Reduce -5.2% |
| AIZ Assurant Inc. | 0.45% | 16,846 | $4.5M | Reduce -5.0% |
| AEM Agnico Eagle Mines Ltd. | 0.45% | 29,057 | $4.5M | Reduce -5.4% |
| TS Tenaris SA-ADR | 0.45% | 80,367 | $4.5M | Reduce -4.3% |
| WIP State Street SPDR Ftse Inter | 0.44% | 110,143 | $4.3M | New |
| CVS CVS Health Corp. | 0.43% | 41,189 | $4.3M | Reduce -5.2% |
| AGG iShares Core U.S. Aggregate | 0.43% | 42,755 | $4.2M | No change |
| LST Leuthold Sel Ind filed as MANAGED PORTFOLIO SER | 0.42% | 89,271 | $4.2M | Add +63.5% |
| DGII Digi International Inc. | 0.41% | 54,570 | $4.1M | Reduce -4.7% |
Portfolio Sells Q1 2026 → Q2 2026
| GS Goldman Sachs Group Inc. | Reduce -94.0% | 0.11% | −1.54 |
| MS Morgan Stanley | Reduce -93.9% | 0.09% | −1.15 |
| IBND SS SPDR BB Intl Corp. BD ETF | Reduce -92.8% | 0.06% | −0.78 |
| BWX SS SPDR BB Intl Treasury BD | Reduce -35.9% | 1.16% | −0.78 |
| DB Deutsche Bank AG-Registered | Reduce -92.3% | 0.07% | −0.77 |
| SPDN Dir DLY SP 500 BR 1X ETF-Usi | Reduce -1.3% | 2.64% | −0.61 |
| APTV Aptiv PLC | Reduce -83.3% | 0.08% | −0.52 |
| SNY Sanofi-ADR | Sold out | 0.00% | −0.49 |
| KGC Kinross Gold Corp. | Reduce -4.3% | 1.04% | −0.45 |
| SNEX Stonex Group Inc. | Sold out | 0.00% | −0.40 |
| VC Visteon Corp. | Sold out | 0.00% | −0.40 |
| BR Broadridge Financial Solutio | Sold out | 0.00% | −0.39 |
| SSNC Ss&c Technologies Holdings | Sold out | 0.00% | −0.39 |
| FXY Invesco Currencyshares Japan | Reduce -65.6% | 0.18% | −0.39 |
| DAL Delta Air Lines Inc. | Reduce -86.5% | 0.08% | −0.38 |
| SPIB SS SPDR P Int C Corp. ETF | Reduce -19.6% | 1.14% | −0.37 |
| RWM Proshares Short RUSSELL2000 | Reduce -0.5% | 1.15% | −0.35 |
| MCK McKesson Corp. | Reduce -5.0% | 1.17% | −0.32 |
| UHS Universal Health Services-B | Reduce -74.4% | 0.08% | −0.32 |
| MMS Maximus Inc. | Sold out | 0.00% | −0.30 |
| FDX FedEx Corp. | Reduce -4.2% | 1.16% | −0.30 |
| TEL Te Connectivity PLC | Reduce -26.1% | 0.61% | −0.30 |
| PRIM Primoris Services Corp. | Reduce -5.6% | 0.48% | −0.30 |
| IAG Iamgold Corp. | Reduce -3.8% | 0.89% | −0.27 |
| GAP The Gap Inc. | Reduce -82.7% | 0.04% | −0.27 |
| VMBS Vanguard Mortgage-Backed Sec | Reduce -28.6% | 0.55% | −0.27 |
| ACM Aecom | Sold out | 0.00% | −0.26 |
| HUBG Hub Group Inc. Class A | Reduce -82.7% | 0.06% | −0.23 |
| REGN Regeneron Pharmaceuticals | Reduce -5.3% | 0.58% | −0.22 |
| URBN Urban Outfitters Inc. | Reduce -82.7% | 0.05% | −0.22 |
| AEM Agnico Eagle Mines Ltd. | Reduce -5.4% | 0.45% | −0.21 |
| COR Cencora Inc. | Reduce -5.2% | 0.84% | −0.20 |
| CNXC Concentrix Corp. | Sold out | 0.00% | −0.19 |
| XLF SS Financial Select Sector | Reduce -31.1% | 0.46% | −0.19 |
| EQX Equinox Gold Corp. | Reduce -5.9% | 0.26% | −0.18 |
| GILD Gilead Sciences Inc. | Reduce -5.5% | 0.67% | −0.16 |
| XLC SS Comm Select Sector SPDR | Reduce -37.3% | 0.21% | −0.16 |
| MSFT Microsoft Corp. | Reduce -3.2% | 1.75% | −0.15 |
| META Meta Platforms Inc. Class A | Reduce -5.1% | 1.08% | −0.15 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -4.5% | 1.24% | −0.14 |
| SLB SLB Ltd. | Reduce -5.2% | 0.60% | −0.14 |
| BKR Baker Hughes Co. | Reduce -4.7% | 0.57% | −0.13 |
| UTHR United Therapeutics Corp. | Reduce -5.1% | 0.55% | −0.12 |
| EGO Eldorado Gold Corp. | Reduce -4.6% | 0.52% | −0.12 |
| PRDO Perdoceo Education Corp. | Reduce -6.9% | 0.35% | −0.11 |
| ERIC Ericsson (lm) Tel-SP ADR | Reduce -5.4% | 0.86% | −0.11 |
| PSQ Proshares Short QQQ | Reduce -0.5% | 0.30% | −0.11 |
| JBL Jabil Inc. | Reduce -31.4% | 1.57% | −0.10 |
| BMY Bristol-Myers Squibb Co. | Reduce -5.2% | 0.57% | −0.10 |
| PAAS Pan American Silver Corp. | Reduce -5.7% | 0.27% | −0.10 |
Portfolio Buys Q1 2026 → Q2 2026
| AMD Advanced Micro Devices | Add +136.7% | 1.08% | +0.91 |
| DVN Devon Energy Corp. | Add +1297.9% | 0.85% | +0.77 |
| TIP iShares Tips Bond ETF | New | 0.73% | +0.73 |
| ELV Elevance Health Inc. | New | 0.67% | +0.67 |
| STIP iShares 0-5 Year Tips Bond E | New | 0.66% | +0.66 |
| RNR Renaissancere Holdings Ltd. | New | 0.55% | +0.55 |
| NVDA Nvidia Corp. | Add +51.2% | 1.38% | +0.54 |
| DINO HF Sinclair Corp. | New | 0.51% | +0.51 |
| PFE Pfizer Inc. | New | 0.49% | +0.49 |
| NXPI NXP Semiconductors NV | New | 0.46% | +0.46 |
| WIP State Street SPDR Ftse Inter | New | 0.44% | +0.44 |
| HQY Healthequity Inc. | New | 0.37% | +0.37 |
| PBF PBF Energy Inc. Class A | New | 0.37% | +0.37 |
| MCY Mercury General Corp. | New | 0.37% | +0.37 |
| EQT Eqt Corp. | New | 0.36% | +0.36 |
| RGA Reinsurance Group of America | New | 0.36% | +0.36 |
| OVV Ovintiv Inc. | New | 0.34% | +0.34 |
| AR Antero Resources Corp. | New | 0.33% | +0.33 |
| CRUS Cirrus Logic Inc. | Add +1189.9% | 0.34% | +0.31 |
| PAYC Paycom Software Inc. | New | 0.31% | +0.31 |
| APA Apa Corp. | New | 0.31% | +0.31 |
| CRK Comstock Resources Inc. | New | 0.26% | +0.26 |
| ISHG iShares -3 Year Internationa | New | 0.23% | +0.23 |
| LST Leuthold Sel Ind | Add +63.5% | 0.42% | +0.18 |
| XLE SS Energy Select Sector | Add +346.0% | 0.14% | +0.10 |
| QCOM Qualcomm Inc. | New | 0.10% | +0.10 |
| SPY SS SPDR S&P 500 ETF Trust-US | New | 0.10% | +0.10 |
| QLYS Qualys Inc. | New | 0.10% | +0.10 |
| EG Everest Group Ltd. | New | 0.10% | +0.10 |
| ADI Analog Devices Inc. | New | 0.08% | +0.08 |
| EXE Expand Energy Corp. | New | 0.07% | +0.07 |
| XOP SS SPDR S&P Og Exp & Prod | New | 0.07% | +0.07 |
| IHF iShares U.S. Healthcare Prov | Add +19.6% | 0.21% | +0.07 |
| GFS Globalfoundries Inc. | New | 0.07% | +0.07 |
| CNX CNX Resources Corp. | New | 0.06% | +0.06 |
| DIOD Diodes Inc. | New | 0.05% | +0.05 |
| SOXX iShares Semiconductor ETF | New | 0.05% | +0.05 |
| IAK iShares U.S. Insurance ETF | Add +46.0% | 0.12% | +0.04 |
| IJR iShares Core S&P Small-Cap E | New | 0.02% | +0.02 |
| ACWI iShares MSCI Acwi ETF | New | 0.02% | +0.02 |
| MTCH Match Group Inc. | New | 0.02% | +0.02 |
| SNX TD Synnex Corp. | Add +0.7% | 0.04% | +0.01 |
| SAN Banco Santander SA-Spon ADR | Add +0.3% | 0.09% | +0.01 |
| QUAL iShares MSCI USA Quality Fac | Add +1.3% | 0.03% | +0.00 |
| XLB SS Materials Select Sector | Add +13.3% | 0.03% | +0.00 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Add +1.4% | 0.03% | +0.00 |
| DGRO iShares Core Dividend Growth | Add +1.4% | 0.03% | +0.00 |
| CB Chubb Ltd. | Add +1.0% | 0.03% | −0.00 |
| WFC Wells Fargo & Co. | Add +0.8% | 0.04% | −0.00 |
| QLTA iShares Aaa - A Rated Corpor | Add +1.8% | 0.02% | −0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 237 | $995.2M | SPDN, GOOGL, FLEX, MSFT, CSCO |
| Q1 2026 | 211 | $938.7M | SPDN, GOOGL, BWX, MSFT, JBL |
| Q4 2025 | 207 | $926.0M | MSFT, SPDN, GOOGL, BWX, GS |
| Q3 2025 | 205 | $914.0M | MSFT, META, BWX, ORCL, NFLX |
| Q2 2025 | 206 | $837.0M | MSFT, META, BWX, NFLX, SPDN |
| Q1 2025 | 201 | $770.1M | SPDN, MSFT, BWX, META, PSQ |
| Q4 2024 | 191 | $832.6M | MSFT, META, IGIB, SPDN, IGOV |
| Q3 2024 | 172 | $899.6M | MSFT, IGIB, META, AAPL, SPDN |
| Q2 2024 | 180 | $865.2M | MSFT, LRCX, META, SPDN, IGIB |
| Q1 2024 | 178 | $888.0M | MSFT, LRCX, SPDN, IGIB, META |