Leuthold Group, LLC
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 24, 2024), Leuthold Group, LLC reported 172 stock positions worth $899.6 million. Its top holding was Microsoft (MSFT) at 2.7% of the portfolio, followed by iShares 5-10Y Inv Grade (IGIB, 2.4%) and Meta Platforms Class A (META, 2.1%). Compared with Q2 2024, it opened 25 new positions, sold out of 33, added to 21 and reduced 123. The biggest buy was Progress Software (PRGS, shares +958%) and the biggest sale Lam Research (LRCX, shares −25%).
- Most Recent 13F
- Q2 2026
- Location
- MINNEAPOLIS, MN
- CIK
- 0001170152
- Portfolio Value
- $899.6M (Q3 2024)
- SEC Filing
- 0000897069-24-002042 ↗ filed Oct 24, 2024
Holdings Value
Holdings 172 stocks · $899.6M
| MSFT Microsoft Corp. | 2.71% | 56,589 | $24.4M | Reduce -14.3% |
| IGIB iShares 5-10Y Inv Grade Corp. | 2.36% | 394,901 | $21.2M | Add +1.3% |
| META Meta Platforms Inc. Class A | 2.13% | 33,429 | $19.1M | Reduce -18.3% |
| AAPL Apple Inc. | 1.99% | 76,886 | $17.9M | Reduce -17.9% |
| SPDN Dir DLY SP 500 BR 1X ETF-Usi | 1.85% | 1,483,044 | $16.6M | Reduce -13.3% |
| IGOV iShares International Treasu | 1.83% | 394,614 | $16.5M | Reduce -1.6% |
| PRGS Progress Software Corp. | 1.80% | 409,752 | $16.2M | Add +958.1% |
| PHM Pultegroup Inc. | 1.71% | 107,442 | $15.4M | Reduce -6.3% |
| SPIB SS SPDR P Int C Corp. ETF | 1.60% | 428,312 | $14.4M | Add +51.3% |
| MTBA Simplify MBS ETF | 1.56% | 273,375 | $14.1M | Add +47.1% |
| XLK SS Technology Select Sector | 1.52% | 60,440 | $13.6M | Reduce -17.2% |
| DHI D.R. Horton Inc. | 1.50% | 70,976 | $13.5M | Reduce -5.5% |
| ORCL Oracle Corp. | 1.44% | 75,960 | $12.9M | Reduce -3.7% |
| GOOGL Alphabet Inc. Class A | 1.40% | 76,176 | $12.6M | Reduce -20.9% |
| LRCX Lam Research Corp. | 1.39% | 15,313 | $12.5M | Reduce -25.3% |
| MBB iShares MBS ETF | 1.39% | 130,168 | $12.5M | Reduce -1.1% |
| URI United Rentals Inc. | 1.39% | 15,393 | $12.5M | Reduce -4.0% |
| XLF SS Financial Select Sector | 1.38% | 274,892 | $12.5M | Add +6.2% |
| SHY iShares 1-3 Year Treasury Bo | 1.30% | 140,785 | $11.7M | Reduce -2.1% |
| NFLX Netflix Inc. | 1.28% | 16,247 | $11.5M | Reduce -3.0% |
| AMAT Applied Materials Inc. | 1.27% | 56,526 | $11.4M | Reduce -27.3% |
| TOL Toll Brothers Inc. | 1.24% | 72,293 | $11.2M | Reduce -5.5% |
| BWX SS SPDR BB Intl Treasury BD | 1.06% | 410,174 | $9.6M | Reduce -0.7% |
| UNH Unitedhealth Group Inc. | 1.06% | 16,363 | $9.6M | Reduce -6.8% |
| RGA Reinsurance Group of America | 1.04% | 43,047 | $9.4M | Reduce -2.7% |
| XLC SS Comm Select Sector SPDR | 1.04% | 103,644 | $9.4M | Reduce -18.1% |
| CRH CRH PLC | 1.02% | 98,484 | $9.1M | Reduce -4.0% |
| TMUS T-Mobile US Inc. | 1.01% | 44,198 | $9.1M | Add +3.8% |
| RWM Proshares Short RUSSELL2000 | 1.01% | 479,030 | $9.1M | Reduce -15.8% |
| IVV iShares Core S&P 500 ETF | 1.00% | 15,569 | $9.0M | Reduce -1.2% |
| LEN Lennar Corp. Class A | 0.99% | 47,601 | $8.9M | Reduce -4.7% |
| XOM Exxon Mobil Corp. | 0.99% | 76,051 | $8.9M | Reduce -3.0% |
| MCK McKesson Corp. | 0.96% | 17,430 | $8.6M | Reduce -2.7% |
| MA Mastercard Inc. Class A | 0.94% | 17,035 | $8.4M | Reduce -6.6% |
| GS Goldman Sachs Group Inc. | 0.93% | 16,871 | $8.4M | Add +12.9% |
| RNR Renaissancere Holdings Ltd. | 0.92% | 30,309 | $8.3M | Reduce -3.2% |
| JBL Jabil Inc. | 0.90% | 67,483 | $8.1M | Reduce -3.9% |
| HCA HCA Healthcare Inc. | 0.89% | 19,710 | $8.0M | Reduce -1.1% |
| MS Morgan Stanley | 0.89% | 76,523 | $8.0M | Add +14.5% |
| CAH Cardinal Health Inc. | 0.84% | 68,721 | $7.6M | Reduce -2.7% |
| COR Cencora Inc. | 0.84% | 33,627 | $7.6M | Reduce -4.2% |
| FLEX Flex Ltd. | 0.83% | 222,882 | $7.5M | Reduce -3.9% |
| JPM JPMorgan Chase & Co. | 0.82% | 34,838 | $7.3M | Add +15.5% |
| MTH Meritage Homes Corp. | 0.80% | 35,198 | $7.2M | Reduce -5.5% |
| SHEL Shell PLC-ADR | 0.79% | 107,860 | $7.1M | Reduce -4.2% |
| EG Everest Group Ltd. | 0.79% | 18,025 | $7.1M | Reduce -2.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.78% | 175,850 | $7.0M | Add +16.4% |
| KLAC KLA Corp. | 0.75% | 8,683 | $6.7M | Reduce -35.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.74% | 56,922 | $6.7M | Reduce -4.1% |
| ELV Elevance Health Inc. | 0.73% | 12,700 | $6.6M | Reduce -6.3% |
| TEL Te Connectivity Ltd. | 0.73% | 43,707 | $6.6M | Reduce -3.9% |
| CHKP Check Point Software Tech | 0.72% | 33,416 | $6.4M | Reduce -3.1% |
| IEFA iShares Core MSCI Eafe ETF | 0.70% | 81,228 | $6.3M | Reduce -1.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.70% | 13,738 | $6.3M | Reduce -3.8% |
| EMLC Vaneck JPM Em Local Curr BND | 0.70% | 248,897 | $6.3M | Reduce -2.7% |
| V Visa Inc. Class A | 0.69% | 22,668 | $6.2M | Reduce -6.4% |
| AER Aercap Holdings NV | 0.69% | 65,339 | $6.2M | Reduce -4.3% |
| EXP Eagle Materials Inc. | 0.69% | 21,423 | $6.2M | Reduce -3.5% |
| THC Tenet Healthcare Corp. | 0.67% | 36,087 | $6.0M | Reduce -0.3% |
| CB Chubb Ltd. | 0.66% | 20,672 | $6.0M | Add +78.3% |
| T AT&T Inc. | 0.65% | 266,841 | $5.9M | Add +35.3% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM | 0.64% | 93,548 | $5.7M | Reduce -3.3% |
| TMHC Taylor Morrison Home Corp. | 0.63% | 80,823 | $5.7M | Reduce -3.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.62% | 58,148 | $5.6M | New |
| IBND SS SPDR BB Intl Corp. BD ETF | 0.62% | 181,900 | $5.6M | Reduce -0.9% |
| ITB iShares U.S. Home Constructi | 0.61% | 42,888 | $5.5M | Reduce -2.5% |
| WCC Wesco International Inc. | 0.60% | 32,315 | $5.4M | Reduce -4.4% |
| FTNT Fortinet Inc. | 0.60% | 69,550 | $5.4M | Reduce -3.2% |
| AGG iShares Core U.S. Aggregate | 0.59% | 52,144 | $5.3M | Add +34.6% |
| UHS Universal Health Services-B | 0.58% | 22,928 | $5.3M | Reduce -1.2% |
| ROST Ross Stores Inc. | 0.58% | 34,860 | $5.2M | Reduce -4.2% |
| KBH KB Home | 0.58% | 60,662 | $5.2M | Reduce -4.5% |
| CAT Caterpillar Inc. | 0.58% | 13,229 | $5.2M | Reduce -3.7% |
| MTB M & T Bank Corp. filed as M & T BK CORP | 0.57% | 28,660 | $5.1M | Add +34.6% |
| ADBE Adobe Inc. | 0.56% | 9,686 | $5.0M | Reduce -1.2% |
| MTCH Match Group Inc. | 0.55% | 131,194 | $5.0M | Reduce -3.4% |
| CNC Centene Corp. | 0.53% | 62,973 | $4.7M | Reduce -6.3% |
| CARG Cargurus Inc. | 0.52% | 157,194 | $4.7M | Reduce -3.4% |
| IEF iShares 7-10 Year Treasury B | 0.52% | 47,511 | $4.7M | Reduce -1.1% |
| VONV Vanguard Russell 1000 Value | 0.51% | 55,457 | $4.6M | Reduce -1.2% |
| FXE Invesco Currencyshares Euro | 0.51% | 44,908 | $4.6M | Reduce -1.0% |
| FXY Invesco Currencyshares Japan | 0.51% | 71,111 | $4.6M | Reduce -0.6% |
| XLV SS Health Care Select Sector | 0.51% | 29,642 | $4.6M | Add +88.3% |
| HIG Hartford Insurance Group Inc. | 0.51% | 38,789 | $4.6M | Add +18.4% |
| MLM Martin Marietta Materials | 0.51% | 8,454 | $4.6M | Reduce -4.2% |
| SUM Summit Materials Inc. Class A | 0.49% | 113,175 | $4.4M | Reduce -3.6% |
| ACGL Arch Capital Group Ltd. | 0.48% | 38,891 | $4.4M | New |
| HBAN Huntington Bancshares Inc. | 0.47% | 287,719 | $4.2M | New |
| CFG Citizens Financial Group | 0.46% | 101,442 | $4.2M | New |
| TRV The Travelers Cos Inc. | 0.46% | 17,647 | $4.1M | New |
| PCAR Paccar Inc. | 0.46% | 41,565 | $4.1M | Reduce -5.5% |
| ALL Allstate Corp. | 0.45% | 21,231 | $4.0M | New |
| IHF iShares U.S. Healthcare Prov | 0.45% | 70,448 | $4.0M | Add +23.7% |
| ALSN Allison Transmission Holding | 0.44% | 41,106 | $3.9M | Reduce -4.9% |
| SMFG Sumitomo Mitsui-Spons ADR | 0.43% | 309,329 | $3.9M | New |
| AIZ Assurant Inc. | 0.42% | 18,919 | $3.8M | Reduce -3.7% |
| XLI SS Industrial Select Sector | 0.41% | 27,459 | $3.7M | Reduce -2.4% |
| NMIH Nmi Holdings Inc. filed as NMI HLDGS INC | 0.40% | 87,557 | $3.6M | Reduce -4.4% |
| B Barrick Gold Corp. | 0.38% | 172,921 | $3.4M | New |
| BCC Boise Cascade Co. | 0.38% | 24,286 | $3.4M | Reduce -2.4% |
Portfolio Sells Q2 2024 → Q3 2024
| LRCX Lam Research Corp. | Reduce -25.3% | 1.39% | −1.13 |
| AMAT Applied Materials Inc. | Reduce -27.3% | 1.27% | −0.85 |
| MSFT Microsoft Corp. | Reduce -14.3% | 2.71% | −0.71 |
| WFC Wells Fargo & Co. | Sold out | 0.00% | −0.66 |
| SHYG iShares 0-5 YR HY Corp. Bond | Sold out | 0.00% | −0.63 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.62 |
| GOOGL Alphabet Inc. Class A | Reduce -20.9% | 1.40% | −0.62 |
| CSCO Cisco Systems Inc. | Sold out | 0.00% | −0.58 |
| KLAC KLA Corp. | Reduce -35.5% | 0.75% | −0.53 |
| NMR Nomura Holdings Inc.-Spon ADR | Sold out | 0.00% | −0.50 |
| SPDN Dir DLY SP 500 BR 1X ETF-Usi | Reduce -13.3% | 1.85% | −0.48 |
| SJNK SS SPDR BB St Hi Yield ETF | Sold out | 0.00% | −0.44 |
| CX Cemex Sab-Spons ADR Part Cer | Sold out | 0.00% | −0.42 |
| DE Deere & Co. | Sold out | 0.00% | −0.41 |
| XLK SS Technology Select Sector | Reduce -17.2% | 1.52% | −0.39 |
| DLB Dolby Laboratories Inc. Class A | Sold out | 0.00% | −0.38 |
| RWM Proshares Short RUSSELL2000 | Reduce -15.8% | 1.01% | −0.36 |
| SSTK Shutterstock Inc. | Sold out | 0.00% | −0.33 |
| YELP Yelp Inc. | Sold out | 0.00% | −0.31 |
| AAPL Apple Inc. | Reduce -17.9% | 1.99% | −0.29 |
| META Meta Platforms Inc. Class A | Reduce -18.3% | 2.13% | −0.26 |
| MCK McKesson Corp. | Reduce -2.7% | 0.96% | −0.25 |
| FENY Fidelity MSCI Energy Index | Sold out | 0.00% | −0.22 |
| NXT Nextpower Inc. | Sold out | 0.00% | −0.22 |
| XLC SS Comm Select Sector SPDR | Reduce -18.1% | 1.04% | −0.21 |
| AGCO Agco Corp. | Sold out | 0.00% | −0.19 |
| RSPD Invesco S&P 500 Equal Weight | Sold out | 0.00% | −0.16 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -42.0% | 0.22% | −0.16 |
| MSM MSC Industrial Direct Co. Class A | Sold out | 0.00% | −0.16 |
| EMB iShares JP Morgan Usd Emergi | Sold out | 0.00% | −0.15 |
| SHEL Shell PLC-ADR | Reduce -4.2% | 0.79% | −0.15 |
| ELV Elevance Health Inc. | Reduce -6.3% | 0.73% | −0.11 |
| XLE SS Energy Select Sector | Sold out | 0.00% | −0.10 |
| HUM Humana Inc. | Reduce -8.2% | 0.26% | −0.09 |
| XHB SS SPDR S&P Homebldrs ETF | Reduce -59.1% | 0.07% | −0.08 |
| QLYS Qualys Inc. | Reduce -3.8% | 0.38% | −0.08 |
| LKQ LKQ Corp. | Reduce -9.5% | 0.38% | −0.07 |
| COR Cencora Inc. | Reduce -4.2% | 0.84% | −0.07 |
| ADBE Adobe Inc. | Reduce -1.2% | 0.56% | −0.07 |
| PCAR Paccar Inc. | Reduce -5.5% | 0.46% | −0.07 |
| TEX Terex Corp. | Reduce -13.9% | 0.25% | −0.06 |
| XLY SS Consumer Disc Select Sect | Sold out | 0.00% | −0.06 |
| GAP The Gap Inc. | Reduce -4.1% | 0.33% | −0.06 |
| TEL Te Connectivity Ltd. | Reduce -3.9% | 0.73% | −0.06 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -2.1% | 1.30% | −0.06 |
| XOM Exxon Mobil Corp. | Reduce -3.0% | 0.99% | −0.05 |
| AER Aercap Holdings NV | Reduce -4.3% | 0.69% | −0.05 |
| MLM Martin Marietta Materials | Reduce -4.2% | 0.51% | −0.05 |
| URBN Urban Outfitters Inc. | Reduce -4.1% | 0.27% | −0.04 |
| V Visa Inc. Class A | Reduce -6.4% | 0.69% | −0.04 |
Portfolio Buys Q2 2024 → Q3 2024
| PRGS Progress Software Corp. | Add +958.1% | 1.80% | +1.55 |
| DIS The Walt Disney Co. | New | 0.62% | +0.62 |
| SPIB SS SPDR P Int C Corp. ETF | Add +51.3% | 1.60% | +0.54 |
| ACGL Arch Capital Group Ltd. | New | 0.48% | +0.48 |
| MTBA Simplify MBS ETF | Add +47.1% | 1.56% | +0.48 |
| HBAN Huntington Bancshares Inc. | New | 0.47% | +0.47 |
| CFG Citizens Financial Group | New | 0.46% | +0.46 |
| TRV The Travelers Cos Inc. | New | 0.46% | +0.46 |
| ALL Allstate Corp. | New | 0.45% | +0.45 |
| SMFG Sumitomo Mitsui-Spons ADR | New | 0.43% | +0.43 |
| B Barrick Gold Corp. | New | 0.38% | +0.38 |
| VZ Verizon Communications Inc. | New | 0.37% | +0.37 |
| COLB Columbia Banking System Inc. | New | 0.35% | +0.35 |
| IAG Iamgold Corp. | New | 0.33% | +0.33 |
| CB Chubb Ltd. | Add +78.3% | 0.66% | +0.32 |
| CADE Cadence Bank | New | 0.30% | +0.30 |
| IAK iShares U.S. Insurance ETF | New | 0.29% | +0.29 |
| KGC Kinross Gold Corp. | New | 0.26% | +0.26 |
| WTM White Mountains Insurance GP | New | 0.25% | +0.25 |
| XLV SS Health Care Select Sector | Add +88.3% | 0.51% | +0.24 |
| T AT&T Inc. | Add +35.3% | 0.65% | +0.22 |
| MTB M & T Bank Corp. | Add +34.6% | 0.57% | +0.20 |
| XLF SS Financial Select Sector | Add +6.2% | 1.38% | +0.16 |
| AGG iShares Core U.S. Aggregate | Add +34.6% | 0.59% | +0.15 |
| GS Goldman Sachs Group Inc. | Add +12.9% | 0.93% | +0.15 |
| TMUS T-Mobile US Inc. | Add +3.8% | 1.01% | +0.15 |
| MS Morgan Stanley | Add +14.5% | 0.89% | +0.14 |
| HIG Hartford Insurance Group Inc. | Add +18.4% | 0.51% | +0.13 |
| KRE SS SPDR S&P Regional Bank | New | 0.12% | +0.12 |
| JPM JPMorgan Chase & Co. | Add +15.5% | 0.82% | +0.11 |
| IHF iShares U.S. Healthcare Prov | Add +23.7% | 0.45% | +0.10 |
| GDX Vaneck Gold Miners ETF | New | 0.10% | +0.10 |
| BAC Bank of America Corp. | Add +16.4% | 0.78% | +0.08 |
| IYZ iShares US Telecommunication | New | 0.07% | +0.07 |
| VOD Vodafone Group PLC-SP ADR | New | 0.05% | +0.05 |
| XLP SS Consumer Staples Sel Sect | New | 0.05% | +0.05 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +1.3% | 2.36% | +0.05 |
| JD Jd.com Inc.-ADR | Add +54.6% | 0.07% | +0.04 |
| ASR Grupo Aeroportuario Sur-ADR | New | 0.04% | +0.04 |
| JWN Nordstrom Inc. | New | 0.04% | +0.04 |
| PSQ Proshares Short QQQ | New | 0.03% | +0.03 |
| DDS Dillards Inc. Class A | New | 0.03% | +0.03 |
| TLH iShares 10-20 Year Treasury | New | 0.03% | +0.03 |
| EBAY eBay Inc. | Add +49.1% | 0.06% | +0.02 |
| PDD PDD Holdings Inc. | Add +50.9% | 0.05% | +0.02 |
| MKL Markel Group Inc. | Add +3.8% | 0.36% | −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 |