Leuthold Group, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 3, 2025), Leuthold Group, LLC reported 191 stock positions worth $832.6 million. Its top holding was Microsoft (MSFT) at 2.8% of the portfolio, followed by Meta Platforms Class A (META, 2.3%) and iShares 5-10Y Inv Grade (IGIB, 2.0%). Compared with Q3 2024, it opened 44 new positions, sold out of 26, added to 16 and reduced 131. The biggest buy was Proshares Short QQQ (PSQ, shares +1230%) and the biggest sale an exit from Apple (AAPL).
- Most Recent 13F
- Q2 2026
- Location
- MINNEAPOLIS, MN
- CIK
- 0001170152
- Portfolio Value
- $832.6M (Q4 2024)
- SEC Filing
- 0000897069-25-000157 ↗ filed Feb 3, 2025
Holdings Value
Holdings 191 stocks · $832.6M
| MSFT Microsoft Corp. | 2.77% | 54,619 | $23.0M | Reduce -3.5% |
| META Meta Platforms Inc. Class A | 2.26% | 32,188 | $18.8M | Reduce -3.7% |
| IGIB iShares 5-10Y Inv Grade Corp. | 1.98% | 320,709 | $16.5M | Reduce -18.8% |
| SPDN Dir DLY SP 500 BR 1X ETF-Usi | 1.90% | 1,434,086 | $15.8M | Reduce -3.3% |
| IGOV iShares International Treasu | 1.83% | 397,631 | $15.3M | Add +0.8% |
| SPIB SS SPDR P Int C Corp. ETF | 1.69% | 429,917 | $14.1M | Add +0.4% |
| NFLX Netflix Inc. | 1.68% | 15,709 | $14.0M | Reduce -3.3% |
| GOOGL Alphabet Inc. Class A | 1.67% | 73,477 | $13.9M | Reduce -3.5% |
| ORCL Oracle Corp. | 1.47% | 73,274 | $12.2M | Reduce -3.5% |
| XLF SS Financial Select Sector | 1.41% | 243,376 | $11.8M | Reduce -11.5% |
| MBB iShares MBS ETF | 1.40% | 127,287 | $11.7M | Reduce -2.2% |
| PHM Pultegroup Inc. | 1.36% | 103,639 | $11.3M | Reduce -3.5% |
| GS Goldman Sachs Group Inc. | 1.29% | 18,710 | $10.7M | Add +10.9% |
| PSQ Proshares Short QQQ | 1.26% | 281,394 | $10.5M | Add +1230.3% |
| URI United Rentals Inc. | 1.25% | 14,834 | $10.4M | Reduce -3.6% |
| XLK SS Technology Select Sector | 1.22% | 43,682 | $10.2M | Reduce -27.7% |
| SHY iShares 1-3 Year Treasury Bo | 1.18% | 119,916 | $9.8M | Reduce -14.8% |
| MCK McKesson Corp. | 1.15% | 16,819 | $9.6M | Reduce -3.5% |
| DHI D.R. Horton Inc. | 1.15% | 68,522 | $9.6M | Reduce -3.5% |
| TMUS T-Mobile US Inc. | 1.13% | 42,734 | $9.4M | Reduce -3.3% |
| JBL Jabil Inc. | 1.13% | 65,116 | $9.4M | Reduce -3.5% |
| MS Morgan Stanley | 1.12% | 73,963 | $9.3M | Reduce -3.4% |
| RWM Proshares Short RUSSELL2000 | 1.09% | 484,370 | $9.1M | Add +1.1% |
| JAAA Janus Henderson Aaa Clo ETF | 1.07% | 176,107 | $8.9M | New |
| RGA Reinsurance Group of America | 1.07% | 41,600 | $8.9M | Reduce -3.4% |
| MTBA Simplify MBS ETF | 1.06% | 177,745 | $8.8M | Reduce -35.0% |
| XLC SS Comm Select Sector SPDR | 1.05% | 90,057 | $8.7M | Reduce -13.1% |
| MA Mastercard Inc. Class A | 1.04% | 16,472 | $8.7M | Reduce -3.3% |
| BWX SS SPDR BB Intl Treasury BD | 1.01% | 394,371 | $8.4M | Reduce -3.9% |
| TOL Toll Brothers Inc. | 1.01% | 66,843 | $8.4M | Reduce -7.5% |
| IVV iShares Core S&P 500 ETF | 1.01% | 14,278 | $8.4M | Reduce -8.3% |
| FLEX Flex Ltd. | 0.99% | 215,033 | $8.3M | Reduce -3.5% |
| JPM JPMorgan Chase & Co. | 0.97% | 33,622 | $8.1M | Reduce -3.5% |
| CAH Cardinal Health Inc. | 0.94% | 66,326 | $7.8M | Reduce -3.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.90% | 169,704 | $7.5M | Reduce -3.5% |
| V Visa Inc. Class A | 0.89% | 23,568 | $7.4M | Add +4.0% |
| DAL Delta Air Lines Inc. | 0.88% | 121,417 | $7.3M | New |
| RNR Renaissancere Holdings Ltd. | 0.87% | 29,245 | $7.3M | Reduce -3.5% |
| COR Cencora Inc. | 0.87% | 32,359 | $7.3M | Reduce -3.8% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.80% | 54,853 | $6.6M | Reduce -3.6% |
| CHKP Check Point Software Tech | 0.78% | 34,647 | $6.5M | Add +3.7% |
| FTNT Fortinet Inc. | 0.76% | 67,055 | $6.3M | Reduce -3.6% |
| EG Everest Group Ltd. | 0.76% | 17,465 | $6.3M | Reduce -3.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.75% | 56,155 | $6.3M | Reduce -3.4% |
| LEN Lennar Corp. Class A | 0.73% | 44,464 | $6.1M | Reduce -6.6% |
| C Citigroup Inc. | 0.72% | 85,694 | $6.0M | Add +2075.5% |
| TEL Te Connectivity PLC | 0.72% | 42,188 | $6.0M | Reduce -3.5% |
| AER Aercap Holdings NV | 0.72% | 63,025 | $6.0M | Reduce -3.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.72% | 13,189 | $6.0M | Reduce -4.0% |
| KGC Kinross Gold Corp. | 0.71% | 638,600 | $5.9M | Add +152.0% |
| T AT&T Inc. | 0.70% | 257,477 | $5.9M | Reduce -3.5% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM | 0.69% | 90,399 | $5.7M | Reduce -3.4% |
| HCA HCA Healthcare Inc. | 0.69% | 19,029 | $5.7M | Reduce -3.5% |
| EMLC Vaneck JPM Em Local Curr BND | 0.68% | 245,748 | $5.7M | Reduce -1.3% |
| CARG Cargurus Inc. | 0.67% | 151,790 | $5.5M | Reduce -3.4% |
| CB Chubb Ltd. | 0.66% | 20,018 | $5.5M | Reduce -3.2% |
| CSCO Cisco Systems Inc. | 0.63% | 88,624 | $5.2M | New |
| IEFA iShares Core MSCI Eafe ETF | 0.63% | 74,495 | $5.2M | Reduce -8.3% |
| ANET Arista Networks Inc. | 0.63% | 47,191 | $5.2M | New |
| MTB M & T Bank Corp. filed as M & T BK CORP | 0.63% | 27,691 | $5.2M | Reduce -3.4% |
| ROST Ross Stores Inc. | 0.61% | 33,634 | $5.1M | Reduce -3.5% |
| WCC Wesco International Inc. | 0.61% | 27,960 | $5.1M | Reduce -13.5% |
| IBND SS SPDR BB Intl Corp. BD ETF | 0.60% | 177,530 | $5.0M | Reduce -2.4% |
| MTH Meritage Homes Corp. | 0.59% | 31,932 | $4.9M | Reduce -9.3% |
| TMHC Taylor Morrison Home Corp. | 0.57% | 78,001 | $4.8M | Reduce -3.5% |
| PYPL PayPal Holdings Inc. | 0.57% | 55,249 | $4.7M | New |
| CAT Caterpillar Inc. | 0.56% | 12,800 | $4.6M | Reduce -3.2% |
| AGG iShares Core U.S. Aggregate | 0.56% | 47,795 | $4.6M | Reduce -8.3% |
| DB Deutsche Bank AG-Registered | 0.55% | 269,880 | $4.6M | Add +1116.3% |
| IAG Iamgold Corp. | 0.54% | 876,813 | $4.5M | Add +55.4% |
| HBAN Huntington Bancshares Inc. | 0.54% | 277,620 | $4.5M | Reduce -3.5% |
| BCS Barclays PLC-Spons ADR | 0.54% | 339,520 | $4.5M | Add +1221.7% |
| RJF Raymond James Financial Inc. | 0.53% | 28,473 | $4.4M | Add +889.0% |
| THC Tenet Healthcare Corp. | 0.53% | 34,959 | $4.4M | Reduce -3.1% |
| SMFG Sumitomo Mitsui-Spons ADR | 0.52% | 298,514 | $4.3M | Reduce -3.5% |
| CFG Citizens Financial Group | 0.51% | 97,904 | $4.3M | Reduce -3.5% |
| ALSN Allison Transmission Holding | 0.51% | 39,645 | $4.3M | Reduce -3.5% |
| PCAR Paccar Inc. | 0.50% | 40,172 | $4.2M | Reduce -3.4% |
| IEF iShares 7-10 Year Treasury B | 0.50% | 45,078 | $4.2M | Reduce -5.1% |
| FXE Invesco Currencyshares Euro | 0.50% | 43,495 | $4.2M | Reduce -3.1% |
| MTCH Match Group Inc. | 0.50% | 126,711 | $4.1M | Reduce -3.4% |
| VONV Vanguard Russell 1000 Value | 0.50% | 50,846 | $4.1M | Reduce -8.3% |
| HIG Hartford Insurance Group Inc. | 0.49% | 37,502 | $4.1M | Reduce -3.3% |
| TRV The Travelers Cos Inc. | 0.49% | 17,025 | $4.1M | Reduce -3.5% |
| ANF Abercrombie & Fitch Co. Class A | 0.49% | 27,231 | $4.1M | New |
| FXY Invesco Currencyshares Japan | 0.49% | 69,107 | $4.1M | Reduce -2.8% |
| UHS Universal Health Services-B | 0.48% | 22,122 | $4.0M | Reduce -3.5% |
| ALL Allstate Corp. | 0.47% | 20,496 | $4.0M | Reduce -3.5% |
| AEM Agnico Eagle Mines Ltd. | 0.47% | 50,248 | $3.9M | New |
| HRB H&R Block Inc. filed as BLOCK H & R INC | 0.47% | 73,669 | $3.9M | New |
| AIZ Assurant Inc. | 0.47% | 18,253 | $3.9M | Reduce -3.5% |
| ITB iShares U.S. Home Constructi | 0.46% | 36,892 | $3.8M | Reduce -14.0% |
| KBH KB Home | 0.45% | 56,956 | $3.7M | Reduce -6.1% |
| LDOS Leidos Holdings Inc. | 0.44% | 25,663 | $3.7M | New |
| ONB Old National Bancorp | 0.43% | 165,422 | $3.6M | Reduce -3.4% |
| QLYS Qualys Inc. | 0.43% | 25,423 | $3.6M | Reduce -3.7% |
| ACGL Arch Capital Group Ltd. | 0.42% | 37,569 | $3.5M | Reduce -3.4% |
| URBN Urban Outfitters Inc. | 0.41% | 62,197 | $3.4M | Reduce -3.6% |
| MKL Markel Group Inc. | 0.41% | 1,977 | $3.4M | Reduce -4.1% |
| NOK Nokia Corp.-Spon ADR | 0.41% | 768,489 | $3.4M | New |
Portfolio Sells Q3 2024 → Q4 2024
| AAPL Apple Inc. | Sold out | 0.00% | −1.99 |
| PRGS Progress Software Corp. | Sold out | 0.00% | −1.80 |
| LRCX Lam Research Corp. | Sold out | 0.00% | −1.39 |
| AMAT Applied Materials Inc. | Sold out | 0.00% | −1.27 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −1.06 |
| CRH CRH PLC | Sold out | 0.00% | −1.02 |
| XOM Exxon Mobil Corp. | Sold out | 0.00% | −0.99 |
| SHEL Shell PLC-ADR | Sold out | 0.00% | −0.79 |
| KLAC KLA Corp. | Sold out | 0.00% | −0.75 |
| ELV Elevance Health Inc. | Sold out | 0.00% | −0.73 |
| EXP Eagle Materials Inc. | Sold out | 0.00% | −0.69 |
| ADBE Adobe Inc. | Sold out | 0.00% | −0.56 |
| CNC Centene Corp. | Sold out | 0.00% | −0.53 |
| MLM Martin Marietta Materials | Sold out | 0.00% | −0.51 |
| MTBA Simplify MBS ETF | Reduce -35.0% | 1.06% | −0.50 |
| SUM Summit Materials Inc. Class A | Sold out | 0.00% | −0.49 |
| NMIH Nmi Holdings Inc. | Sold out | 0.00% | −0.40 |
| B Barrick Gold Corp. | Sold out | 0.00% | −0.38 |
| IGIB iShares 5-10Y Inv Grade Corp. | Reduce -18.8% | 1.98% | −0.37 |
| AEO American Eagle Outfitters | Sold out | 0.00% | −0.36 |
| PHM Pultegroup Inc. | Reduce -3.5% | 1.36% | −0.36 |
| DHI D.R. Horton Inc. | Reduce -3.5% | 1.15% | −0.35 |
| RDN Radian Group Inc. | Sold out | 0.00% | −0.35 |
| XLK SS Technology Select Sector | Reduce -27.7% | 1.22% | −0.30 |
| XLV SS Health Care Select Sector | Reduce -51.7% | 0.24% | −0.27 |
| LEN Lennar Corp. Class A | Reduce -6.6% | 0.73% | −0.26 |
| HUM Humana Inc. | Sold out | 0.00% | −0.26 |
| CAL Caleres Inc. | Sold out | 0.00% | −0.25 |
| IHF iShares U.S. Healthcare Prov | Reduce -48.2% | 0.21% | −0.24 |
| TOL Toll Brothers Inc. | Reduce -7.5% | 1.01% | −0.23 |
| MTH Meritage Homes Corp. | Reduce -9.3% | 0.59% | −0.21 |
| HCA HCA Healthcare Inc. | Reduce -3.5% | 0.69% | −0.20 |
| SEM Select Medical Holdings Corp. | Reduce -3.2% | 0.21% | −0.16 |
| ITB iShares U.S. Home Constructi | Reduce -14.0% | 0.46% | −0.15 |
| THC Tenet Healthcare Corp. | Reduce -3.1% | 0.53% | −0.14 |
| URI United Rentals Inc. | Reduce -3.6% | 1.25% | −0.13 |
| KBH KB Home | Reduce -6.1% | 0.45% | −0.13 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -14.8% | 1.18% | −0.12 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -58.0% | 0.10% | −0.12 |
| UHS Universal Health Services-B | Reduce -3.5% | 0.48% | −0.11 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -8.3% | 0.63% | −0.08 |
| BCC Boise Cascade Co. | Reduce -12.1% | 0.30% | −0.08 |
| ACGL Arch Capital Group Ltd. | Reduce -3.4% | 0.42% | −0.07 |
| PPLI People Inc. | Reduce -3.4% | 0.30% | −0.06 |
| TMHC Taylor Morrison Home Corp. | Reduce -3.5% | 0.57% | −0.06 |
| MTCH Match Group Inc. | Reduce -3.4% | 0.50% | −0.05 |
| BWX SS SPDR BB Intl Treasury BD | Reduce -3.9% | 1.01% | −0.05 |
| EMXC iShares MSCI Emr MRK Ex Chna | Reduce -16.9% | 0.22% | −0.05 |
| SU Suncor Energy Inc. | Sold out | 0.00% | −0.05 |
| RNR Renaissancere Holdings Ltd. | Reduce -3.5% | 0.87% | −0.04 |
Portfolio Buys Q3 2024 → Q4 2024
| PSQ Proshares Short QQQ | Add +1230.3% | 1.26% | +1.23 |
| JAAA Janus Henderson Aaa Clo ETF | New | 1.07% | +1.07 |
| DAL Delta Air Lines Inc. | New | 0.88% | +0.88 |
| C Citigroup Inc. | Add +2075.5% | 0.72% | +0.70 |
| CSCO Cisco Systems Inc. | New | 0.63% | +0.63 |
| ANET Arista Networks Inc. | New | 0.63% | +0.63 |
| PYPL PayPal Holdings Inc. | New | 0.57% | +0.57 |
| DB Deutsche Bank AG-Registered | Add +1116.3% | 0.55% | +0.51 |
| BCS Barclays PLC-Spons ADR | Add +1221.7% | 0.54% | +0.51 |
| RJF Raymond James Financial Inc. | Add +889.0% | 0.53% | +0.49 |
| ANF Abercrombie & Fitch Co. Class A | New | 0.49% | +0.49 |
| AEM Agnico Eagle Mines Ltd. | New | 0.47% | +0.47 |
| HRB H&R Block Inc. | New | 0.47% | +0.47 |
| KGC Kinross Gold Corp. | Add +152.0% | 0.71% | +0.45 |
| LDOS Leidos Holdings Inc. | New | 0.44% | +0.44 |
| NOK Nokia Corp.-Spon ADR | New | 0.41% | +0.41 |
| ERIC Ericsson (lm) Tel-SP ADR | New | 0.41% | +0.41 |
| FFIV F5 Inc. | New | 0.40% | +0.40 |
| GPN Global Payments Inc. | New | 0.39% | +0.39 |
| FIS Fidelity National Info Serv | New | 0.38% | +0.38 |
| XYZ Block Inc. | New | 0.38% | +0.38 |
| CVSA Covista Inc. | New | 0.37% | +0.37 |
| LRN Stride Inc. | New | 0.36% | +0.36 |
| GS Goldman Sachs Group Inc. | Add +10.9% | 1.29% | +0.36 |
| VIRT Virtu Financial Inc. Class A | New | 0.34% | +0.34 |
| CPA Copa Holdings SA Class A | New | 0.33% | +0.33 |
| EGO Eldorado Gold Corp. | New | 0.33% | +0.33 |
| EQX Equinox Gold Corp. | New | 0.33% | +0.33 |
| SAIC Science Applications Inte | New | 0.33% | +0.33 |
| PAAS Pan American Silver Corp. | New | 0.32% | +0.32 |
| CACI Caci International Inc. Class A | New | 0.32% | +0.32 |
| KBR KBR Inc. | New | 0.28% | +0.28 |
| HLIT Harmonic Inc. | New | 0.28% | +0.28 |
| IAG Iamgold Corp. | Add +55.4% | 0.54% | +0.22 |
| V Visa Inc. Class A | Add +4.0% | 0.89% | +0.20 |
| JETS US Global Jets ETF | New | 0.13% | +0.13 |
| GDX Vaneck Gold Miners ETF | Add +139.1% | 0.21% | +0.12 |
| IYZ iShares US Telecommunication | Add +102.3% | 0.16% | +0.09 |
| KCE SS SPDR S&P Cap MKTS ETF | New | 0.09% | +0.09 |
| KBWB Invesco KBW Bank ETF | New | 0.09% | +0.09 |
| SPIB SS SPDR P Int C Corp. ETF | Add +0.4% | 1.69% | +0.09 |
| CRM Salesforce Inc. | New | 0.08% | +0.08 |
| RWM Proshares Short RUSSELL2000 | Add +1.1% | 1.09% | +0.08 |
| FISV Fiserv Inc. | New | 0.07% | +0.07 |
| CHKP Check Point Software Tech | Add +3.7% | 0.78% | +0.06 |
| DOCU Docusign Inc. | New | 0.06% | +0.06 |
| DBX Dropbox Inc. Class A | New | 0.06% | +0.06 |
| ZM Zoom Communications Inc. | New | 0.05% | +0.05 |
| SNPS Synopsys Inc. | New | 0.05% | +0.05 |
| IDCC Interdigital Inc. | New | 0.05% | +0.05 |
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 |