Leuthold Group, LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 6, 2024), Leuthold Group, LLC reported 178 stock positions worth $888.0 million. Its top holding was Microsoft (MSFT) at 3.2% of the portfolio, followed by Lam Research (LRCX, 2.6%) and Dir DLY SP 500 BR 1X ETF-Usi (SPDN, 2.4%). Compared with Q4 2023, it opened 19 new positions, sold out of 16, added to 31 and reduced 121. The biggest buy was a new position in SS SPDR P Int C Corp. ETF (SPIB) and the biggest sale an exit from United States Steel (X).
- Most Recent 13F
- Q2 2026
- Location
- MINNEAPOLIS, MN
- CIK
- 0001170152
- Portfolio Value
- $888.0M (Q1 2024)
- SEC Filing
- 0000897069-24-001019 ↗ filed May 6, 2024
Holdings Value
Holdings 178 stocks · $888.0M
| MSFT Microsoft Corp. | 3.16% | 66,644 | $28.0M | Reduce -0.2% |
| LRCX Lam Research Corp. | 2.62% | 23,935 | $23.3M | Reduce -12.0% |
| SPDN Dir DLY SP 500 BR 1X ETF-Usi | 2.38% | 1,738,497 | $21.2M | Add +0.4% |
| IGIB iShares 5-10Y Inv Grade Corp. | 2.27% | 391,397 | $20.2M | Add +48.1% |
| META Meta Platforms Inc. Class A | 2.26% | 41,261 | $20.0M | Reduce -0.2% |
| AMAT Applied Materials Inc. | 2.15% | 92,641 | $19.1M | Reduce -0.4% |
| XLK SS Technology Select Sector | 1.92% | 81,853 | $17.0M | Add +0.1% |
| AAPL Apple Inc. | 1.82% | 94,439 | $16.2M | Reduce -0.2% |
| IGOV iShares International Treasu | 1.81% | 405,920 | $16.1M | Reduce -6.6% |
| GOOGL Alphabet Inc. Class A | 1.65% | 97,139 | $14.7M | Reduce -0.2% |
| PHM Pultegroup Inc. | 1.57% | 115,634 | $13.9M | Reduce -0.2% |
| KLAC KLA Corp. | 1.42% | 18,101 | $12.6M | Reduce -0.3% |
| DHI D.R. Horton Inc. | 1.40% | 75,776 | $12.5M | Reduce -0.2% |
| UNH Unitedhealth Group Inc. | 1.40% | 25,159 | $12.4M | Reduce -0.4% |
| MBB iShares MBS ETF | 1.37% | 132,067 | $12.2M | Reduce -2.5% |
| SHY iShares 1-3 Year Treasury Bo | 1.32% | 143,232 | $11.7M | Add +3.0% |
| URI United Rentals Inc. | 1.31% | 16,182 | $11.7M | Reduce -0.2% |
| RWM Proshares Short RUSSELL2000 | 1.31% | 580,573 | $11.6M | Reduce -0.4% |
| NFLX Netflix Inc. | 1.16% | 16,891 | $10.3M | Reduce -0.2% |
| ORCL Oracle Corp. | 1.13% | 79,565 | $10.0M | Reduce -0.2% |
| TOL Toll Brothers Inc. | 1.12% | 77,198 | $10.0M | Reduce -0.6% |
| MCK McKesson Corp. | 1.09% | 18,068 | $9.7M | Reduce -0.2% |
| JBL Jabil Inc. | 1.07% | 70,875 | $9.5M | Reduce -0.2% |
| SPIB SS SPDR P Int C Corp. ETF | 1.05% | 284,028 | $9.3M | New |
| XOM Exxon Mobil Corp. | 1.04% | 79,099 | $9.2M | Reduce -0.5% |
| BWX SS SPDR BB Intl Treasury BD | 1.03% | 412,235 | $9.2M | Reduce -9.3% |
| XLC SS Comm Select Sector SPDR | 1.03% | 112,081 | $9.2M | Add +4.3% |
| CRH CRH PLC-Sponsored ADR | 1.01% | 103,508 | $8.9M | Reduce -0.5% |
| MA Mastercard Inc. Class A | 1.00% | 18,404 | $8.9M | Reduce -0.2% |
| LEN Lennar Corp. Class A | 0.98% | 50,395 | $8.7M | Reduce -0.6% |
| RGA Reinsurance Group of America | 0.97% | 44,625 | $8.6M | Reduce -0.2% |
| COR Cencora Inc. | 0.97% | 35,402 | $8.6M | Reduce -0.2% |
| IVV iShares Core S&P 500 ETF | 0.93% | 15,765 | $8.3M | Add +0.0% |
| CAH Cardinal Health Inc. | 0.90% | 71,290 | $8.0M | Reduce -0.2% |
| ELV Elevance Health Inc. | 0.88% | 15,118 | $7.8M | Reduce -0.6% |
| SHEL Shell PLC-ADR | 0.86% | 113,672 | $7.6M | Reduce -0.4% |
| GDDY GoDaddy Inc. Class A | 0.86% | 63,999 | $7.6M | Reduce -0.2% |
| EG Everest Group Ltd. | 0.84% | 18,747 | $7.5M | Reduce -0.7% |
| RNR Renaissancere Holdings Ltd. | 0.84% | 31,596 | $7.4M | Reduce -0.2% |
| OKTA Okta Inc. | 0.83% | 70,262 | $7.4M | Reduce -0.2% |
| TMUS T-Mobile US Inc. | 0.79% | 42,967 | $7.0M | Reduce -0.2% |
| V Visa Inc. Class A | 0.77% | 24,438 | $6.8M | Reduce -0.2% |
| FLEX Flex Ltd. | 0.75% | 234,081 | $6.7M | Reduce -0.2% |
| TEL Te Connectivity Ltd. | 0.75% | 45,901 | $6.7M | Reduce -0.2% |
| MTH Meritage Homes Corp. | 0.74% | 37,604 | $6.6M | Reduce -0.8% |
| CHKP Check Point Software Tech | 0.74% | 40,047 | $6.6M | Reduce -0.7% |
| WIX Wix.com Ltd. | 0.73% | 47,373 | $6.5M | Reduce -0.2% |
| HUM Humana Inc. | 0.71% | 18,277 | $6.3M | Reduce -0.5% |
| EMLC Vaneck JPM Em Local Curr BND | 0.71% | 256,417 | $6.3M | Add +7.1% |
| AKAM Akamai Technologies Inc. | 0.70% | 56,970 | $6.2M | Reduce -0.2% |
| IEFA iShares Core MSCI Eafe ETF | 0.69% | 82,252 | $6.1M | No change |
| HCA HCA Healthcare Inc. | 0.69% | 18,272 | $6.1M | Reduce -0.1% |
| EXP Eagle Materials Inc. | 0.69% | 22,401 | $6.1M | Reduce -0.5% |
| CNC Centene Corp. | 0.68% | 77,173 | $6.1M | Reduce -0.7% |
| CMCSA Comcast Corp. Class A | 0.68% | 139,044 | $6.0M | Reduce -0.1% |
| AER Aercap Holdings NV | 0.67% | 68,909 | $6.0M | Reduce -0.2% |
| WCC Wesco International Inc. | 0.66% | 34,119 | $5.8M | Reduce -0.6% |
| PCAR Paccar Inc. | 0.62% | 44,366 | $5.5M | Reduce -0.2% |
| MLM Martin Marietta Materials | 0.62% | 8,908 | $5.5M | Reduce -0.2% |
| SHYG iShares 0-5 YR HY Corp. Bond | 0.62% | 128,392 | $5.5M | Add +69.0% |
| STLD Steel Dynamics Inc. | 0.61% | 36,831 | $5.5M | Reduce -0.2% |
| STIP iShares 0-5 Year Tips Bond E | 0.61% | 54,897 | $5.5M | No change |
| IBND SS SPDR BB Intl Corp. BD ETF | 0.61% | 185,670 | $5.4M | Add +0.5% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.60% | 97,815 | $5.4M | Reduce -0.0% |
| CSCO Cisco Systems Inc. | 0.60% | 106,610 | $5.3M | Reduce -0.0% |
| SUM Summit Materials Inc. Class A | 0.59% | 118,465 | $5.3M | Reduce -0.4% |
| TMHC Taylor Morrison Home Corp. | 0.59% | 84,560 | $5.3M | Reduce -0.2% |
| CX Cemex Sab-Spons ADR Part Cer | 0.58% | 570,898 | $5.1M | Reduce -0.2% |
| LKQ LKQ Corp. | 0.57% | 95,115 | $5.1M | Reduce -0.4% |
| CAT Caterpillar Inc. | 0.57% | 13,856 | $5.1M | Reduce -0.2% |
| ITB iShares U.S. Home Constructi | 0.57% | 43,579 | $5.0M | Add +3.9% |
| ADBE Adobe Inc. | 0.56% | 9,889 | $5.0M | Reduce -0.2% |
| MTCH Match Group Inc. | 0.56% | 137,104 | $5.0M | Add +4.6% |
| FTNT Fortinet Inc. | 0.56% | 72,491 | $5.0M | Reduce -0.0% |
| TS Tenaris SA-ADR | 0.55% | 124,056 | $4.9M | Reduce -0.2% |
| XLF SS Financial Select Sector | 0.53% | 111,773 | $4.7M | Add +115.8% |
| HAL Halliburton Co. | 0.52% | 117,398 | $4.6M | Reduce -0.1% |
| QLYS Qualys Inc. | 0.52% | 27,687 | $4.6M | Reduce -0.2% |
| FXE Invesco Currencyshares Euro | 0.52% | 45,912 | $4.6M | Add +0.7% |
| IEF iShares 7-10 Year Treasury B | 0.51% | 48,204 | $4.6M | Add +59.8% |
| BKR Baker Hughes Co. | 0.51% | 135,987 | $4.6M | Reduce -0.0% |
| KBH KB Home | 0.51% | 64,159 | $4.5M | Reduce -0.7% |
| TRIP Tripadvisor Inc. | 0.51% | 163,422 | $4.5M | Reduce -0.0% |
| VTIP Vanguard Short-Term Tips | 0.51% | 93,639 | $4.5M | Add +5.6% |
| VONV Vanguard Russell 1000 Value | 0.50% | 56,148 | $4.4M | No change |
| FXY Invesco Currencyshares Japan | 0.49% | 71,373 | $4.4M | Add +278.8% |
| NUE Nucor Corp. | 0.46% | 20,827 | $4.1M | Reduce -0.2% |
| XLV SS Health Care Select Sector | 0.45% | 26,972 | $4.0M | Reduce -6.4% |
| XLI SS Industrial Select Sector | 0.45% | 31,587 | $4.0M | Reduce -9.3% |
| DE Deere & Co. | 0.44% | 9,465 | $3.9M | Reduce -0.0% |
| SJNK SS SPDR BB St Hi Yield ETF | 0.44% | 154,115 | $3.9M | Add +82.7% |
| UHS Universal Health Services-B | 0.44% | 21,253 | $3.9M | New |
| BCC Boise Cascade Co. | 0.43% | 25,108 | $3.9M | Reduce -0.6% |
| DLB Dolby Laboratories Inc. Class A | 0.43% | 45,508 | $3.8M | Reduce -0.6% |
| AGG iShares Core U.S. Aggregate | 0.43% | 38,742 | $3.8M | No change |
| CARG Cargurus Inc. | 0.43% | 164,288 | $3.8M | Add +4.8% |
| AIZ Assurant Inc. | 0.42% | 19,816 | $3.7M | New |
| GMS GMS Inc. | 0.40% | 36,518 | $3.6M | Reduce -0.6% |
| ALSN Allison Transmission Holding | 0.40% | 43,611 | $3.5M | Reduce -0.2% |
| THC Tenet Healthcare Corp. | 0.40% | 33,545 | $3.5M | Reduce -0.1% |
Portfolio Sells Q4 2023 → Q1 2024
| X United States Steel Corp. | Sold out | 0.00% | −0.83 |
| M D C HLDGS INC | Sold out | 0.00% | −0.51 |
| AAPL Apple Inc. | Reduce -0.2% | 1.82% | −0.46 |
| BCO The Brink's Co. | Sold out | 0.00% | −0.45 |
| IGOV iShares International Treasu | Reduce -6.6% | 1.81% | −0.44 |
| MKSI MKS Inc. | Sold out | 0.00% | −0.43 |
| BRC Brady Corporation Class A | Sold out | 0.00% | −0.42 |
| TGH Textainer Group Holdings Ltd. | Sold out | 0.00% | −0.40 |
| HUM Humana Inc. | Reduce -0.5% | 0.71% | −0.34 |
| BWX SS SPDR BB Intl Treasury BD | Reduce -9.3% | 1.03% | −0.29 |
| UNH Unitedhealth Group Inc. | Reduce -0.4% | 1.40% | −0.26 |
| RWM Proshares Short RUSSELL2000 | Reduce -0.4% | 1.31% | −0.23 |
| MBB iShares MBS ETF | Reduce -2.5% | 1.37% | −0.22 |
| CHTR Charter Communications Inc. Class A | Reduce -0.0% | 0.39% | −0.19 |
| ADBE Adobe Inc. | Reduce -0.2% | 0.56% | −0.18 |
| QLYS Qualys Inc. | Reduce -0.2% | 0.52% | −0.16 |
| AKAM Akamai Technologies Inc. | Reduce -0.2% | 0.70% | −0.15 |
| FLEX Flex Ltd. | Reduce -0.2% | 0.75% | −0.14 |
| XSD SS SPDR S&P Semiconductor | Reduce -73.9% | 0.04% | −0.14 |
| TLT iShares 20+ Year Treasury BD | Sold out | 0.00% | −0.14 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Sold out | 0.00% | −0.11 |
| WCC Wesco International Inc. | Reduce -0.6% | 0.66% | −0.09 |
| CMCSA Comcast Corp. Class A | Reduce -0.1% | 0.68% | −0.08 |
| MTH Meritage Homes Corp. | Reduce -0.8% | 0.74% | −0.08 |
| SHEL Shell PLC-ADR | Reduce -0.4% | 0.86% | −0.08 |
| CSCO Cisco Systems Inc. | Reduce -0.0% | 0.60% | −0.07 |
| TMUS T-Mobile US Inc. | Reduce -0.2% | 0.79% | −0.07 |
| BKR Baker Hughes Co. | Reduce -0.0% | 0.51% | −0.07 |
| DLB Dolby Laboratories Inc. Class A | Reduce -0.6% | 0.43% | −0.06 |
| JBL Jabil Inc. | Reduce -0.2% | 1.07% | −0.06 |
| ADM Archer-Daniels-Midland Co. | Sold out | 0.00% | −0.06 |
| MRVL Marvell Technology Inc. | Sold out | 0.00% | −0.06 |
| TEL Te Connectivity Ltd. | Reduce -0.2% | 0.75% | −0.06 |
| GOOGL Alphabet Inc. Class A | Reduce -0.2% | 1.65% | −0.05 |
| BG Bunge Ltd. | Sold out | 0.00% | −0.05 |
| NOV Nov Inc. | Reduce -0.1% | 0.32% | −0.05 |
| XLI SS Industrial Select Sector | Reduce -9.3% | 0.45% | −0.05 |
| LRCX Lam Research Corp. | Reduce -12.0% | 2.62% | −0.05 |
| XLE SS Energy Select Sector | Sold out | 0.00% | −0.05 |
| INGR Ingredion Inc. | Sold out | 0.00% | −0.04 |
| XLV SS Health Care Select Sector | Reduce -6.4% | 0.45% | −0.04 |
| DHI D.R. Horton Inc. | Reduce -0.2% | 1.40% | −0.04 |
| CNC Centene Corp. | Reduce -0.7% | 0.68% | −0.04 |
| PRGS Progress Software Corp. | Reduce -0.5% | 0.27% | −0.04 |
| DE Deere & Co. | Reduce -0.0% | 0.44% | −0.04 |
| PPLI People Inc. | Reduce -0.2% | 0.38% | −0.04 |
| SLB SLB Ltd. | Reduce -0.0% | 0.60% | −0.03 |
| CHKP Check Point Software Tech | Reduce -0.7% | 0.74% | −0.03 |
| MSM MSC Industrial Direct Co. Class A | Reduce -0.2% | 0.19% | −0.03 |
| V Visa Inc. Class A | Reduce -0.2% | 0.77% | −0.03 |
Portfolio Buys Q4 2023 → Q1 2024
| SPIB SS SPDR P Int C Corp. ETF | New | 1.05% | +1.05 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +48.1% | 2.27% | +0.55 |
| UHS Universal Health Services-B | New | 0.44% | +0.44 |
| AIZ Assurant Inc. | New | 0.42% | +0.42 |
| RDN Radian Group Inc. | New | 0.36% | +0.36 |
| ONB Old National Bancorp | New | 0.35% | +0.35 |
| MTB M & T Bank Corp. | New | 0.35% | +0.35 |
| HIG Hartford Insurance Group Inc. | New | 0.35% | +0.35 |
| MKL Markel Group Inc. | New | 0.34% | +0.34 |
| CB Chubb Ltd. | New | 0.34% | +0.34 |
| FXY Invesco Currencyshares Japan | Add +278.8% | 0.49% | +0.34 |
| NMIH Nmi Holdings Inc. | New | 0.34% | +0.34 |
| XLF SS Financial Select Sector | Add +115.8% | 0.53% | +0.29 |
| SHYG iShares 0-5 YR HY Corp. Bond | Add +69.0% | 0.62% | +0.21 |
| SJNK SS SPDR BB St Hi Yield ETF | Add +82.7% | 0.44% | +0.17 |
| IEF iShares 7-10 Year Treasury B | Add +59.8% | 0.51% | +0.15 |
| IAK iShares U.S. Insurance ETF | Add +87.4% | 0.22% | +0.11 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +53.1% | 0.37% | +0.10 |
| EMB iShares JP Morgan Usd Emergi | Add +94.1% | 0.15% | +0.07 |
| XLC SS Comm Select Sector SPDR | Add +4.3% | 1.03% | +0.05 |
| BIDU Baidu Inc. - Spon ADR | New | 0.04% | +0.04 |
| L Loews Corp. | New | 0.04% | +0.04 |
| ITB iShares U.S. Home Constructi | Add +3.9% | 0.57% | +0.03 |
| CMA Comerica Inc. | New | 0.03% | +0.03 |
| UBS UBS Group AG-Reg | New | 0.03% | +0.03 |
| QUAL iShares MSCI USA Quality Fac | New | 0.02% | +0.02 |
| ACWI iShares MSCI Acwi ETF | New | 0.02% | +0.02 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | New | 0.02% | +0.02 |
| QQQM Invesco Nasdaq 100 ETF | New | 0.02% | +0.02 |
| ZIP Ziprecruiter Inc. Class A | New | 0.02% | +0.02 |
| XHB SS SPDR S&P Homebldrs ETF | Add +4.7% | 0.16% | +0.01 |
| FENY Fidelity MSCI Energy Index | Add +3.7% | 0.22% | +0.01 |
| RSPD Invesco S&P 500 Equal Weight | Add +6.8% | 0.17% | +0.01 |
| IEZ iShares U.S. Oil Equipment & | Add +5.3% | 0.15% | +0.00 |
| XLY SS Consumer Disc Select Sect | Add +2.4% | 0.06% | −0.00 |
| IHF iShares U.S. Healthcare Prov | Add +5.5% | 0.35% | −0.00 |
| PICK iShares MSCI Global Metals & | Add +4.0% | 0.07% | −0.01 |
| XME SS SPDR S&P Metals Mining | Add +2.9% | 0.12% | −0.01 |
| IVV iShares Core S&P 500 ETF | Add +0.0% | 0.93% | −0.01 |
| VTIP Vanguard Short-Term Tips | Add +5.6% | 0.51% | −0.02 |
| MTCH Match Group Inc. | Add +4.6% | 0.56% | −0.04 |
| SSTK Shutterstock Inc. | Add +5.0% | 0.38% | −0.04 |
| CARG Cargurus Inc. | Add +4.8% | 0.43% | −0.05 |
| XLK SS Technology Select Sector | Add +0.1% | 1.92% | −0.05 |
| EMLC Vaneck JPM Em Local Curr BND | Add +7.1% | 0.71% | −0.05 |
| FXE Invesco Currencyshares Euro | Add +0.7% | 0.52% | −0.07 |
| YELP Yelp Inc. | Add +7.5% | 0.33% | −0.08 |
| IBND SS SPDR BB Intl Corp. BD ETF | Add +0.5% | 0.61% | −0.08 |
| SHY iShares 1-3 Year Treasury Bo | Add +3.0% | 1.32% | −0.11 |
| SPDN Dir DLY SP 500 BR 1X ETF-Usi | Add +0.4% | 2.38% | −0.50 |
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 |