Leuthold Group, LLC

Name: LEUTHOLD GROUP, LLC 13F holdings, Q2 2025
Creator: LEUTHOLD GROUP, LLC
Published: 2025-08-13

Q2 2026Q1 2026Q4 2025Q3 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Leuthold Group, LLC reported 206 stock positions worth $837.0 million. Its top holding was Microsoft (MSFT) at 3.0% of the portfolio, followed by Meta Platforms Class A (META, 2.6%) and SS SPDR BB Intl Treasury BD (BWX, 2.4%). Compared with Q1 2025, it opened 38 new positions, sold out of 33, added to 49 and reduced 88. The biggest buy was Vanguard Short-Term Tips (VTIP, shares +808%) and the biggest sale Proshares Short QQQ (PSQ, shares −64%).

Most Recent 13F: Q2 2026
Location: MINNEAPOLIS, MN
CIK: 0001170152
Portfolio Value: $837.0M (Q2 2025)
SEC Filing: 0000897069-25-001316 ↗ filed Aug 13, 2025

Holdings Value

Holdings 206 stocks · $837.0M


MSFT Microsoft Corp.	2.99%	50,269	$25.0M	Reduce -1.5%
META Meta Platforms Inc. Class A	2.61%	29,556	$21.8M	Reduce -1.7%
BWX SS SPDR BB Intl Treasury BD	2.35%	839,145	$19.7M	Add +3.9%
NFLX Netflix Inc.	2.31%	14,441	$19.3M	Reduce -1.6%
SPDN Dir DLY SP 500 BR 1X ETF-Usi	2.13%	1,731,569	$17.8M	Reduce -8.8%
ORCL Oracle Corp.	1.76%	67,388	$14.7M	Reduce -1.6%
SHY iShares 1-3 Year Treasury Bo	1.64%	165,772	$13.7M	Reduce -0.1%
JBL Jabil Inc.	1.56%	59,900	$13.1M	Reduce -1.6%
SPIB SS SPDR P Int C Corp. ETF	1.56%	388,529	$13.0M	Add +18.7%
IGOV iShares International Treasu	1.49%	289,269	$12.5M	Add +43.2%
GS Goldman Sachs Group Inc.	1.47%	17,385	$12.3M	Reduce -1.5%
GOOGL Alphabet Inc. Class A	1.42%	67,493	$11.9M	Reduce -1.5%
MCK McKesson Corp.	1.35%	15,453	$11.3M	Reduce -1.8%
RWM Proshares Short RUSSELL2000	1.34%	595,073	$11.2M	Reduce -6.3%
VTIP Vanguard Short-Term Tips	1.28%	213,388	$10.7M	Add +808.3%
XLF SS Financial Select Sector	1.23%	196,446	$10.3M	Add +2.1%
CAH Cardinal Health Inc.	1.23%	61,036	$10.3M	Reduce -1.5%
FLEX Flex Ltd.	1.18%	197,916	$9.9M	Reduce -1.5%
XLK SS Technology Select Sector	1.18%	38,893	$9.8M	Add +10.6%
URI United Rentals Inc.	1.16%	12,883	$9.7M	Reduce -7.3%
MS Morgan Stanley	1.14%	67,646	$9.5M	Reduce -1.5%
KGC Kinross Gold Corp.	1.13%	604,396	$9.4M	Reduce -1.6%
PHM Pultegroup Inc.	1.12%	89,268	$9.4M	Reduce -7.7%
TMUS T-Mobile US Inc.	1.12%	39,491	$9.4M	Reduce -1.4%
IVV iShares Core S&P 500 ETF	1.09%	14,658	$9.1M	Add +2.4%
XLC SS Comm Select Sector SPDR	1.08%	83,162	$9.0M	Add +2.1%
JPM JPMorgan Chase & Co.	1.07%	30,882	$9.0M	Reduce -1.6%
COR Cencora Inc.	1.07%	29,858	$9.0M	Reduce -1.5%
FXY Invesco Currencyshares Japan	1.03%	134,551	$8.6M	Add +33.7%
CSCO Cisco Systems Inc.	1.02%	123,562	$8.6M	Add +46.7%
MA Mastercard Inc. Class A	1.01%	15,102	$8.5M	Reduce -1.6%
IBND SS SPDR BB Intl Corp. BD ETF	1.00%	256,592	$8.4M	Add +86.9%
IEF iShares 7-10 Year Treasury B	0.92%	80,222	$7.7M	Add +16.0%
IGIB iShares 5-10Y Inv Grade Corp.	0.91%	143,077	$7.6M	Add +4.7%
DHI D.R. Horton Inc.	0.91%	58,938	$7.6M	Reduce -7.7%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.88%	156,268	$7.4M	Reduce -1.5%
DB Deutsche Bank AG-Registered	0.88%	252,216	$7.4M	Reduce -1.4%
V Visa Inc. Class A	0.85%	20,066	$7.1M	Reduce -9.1%
CHKP Check Point Software Tech	0.85%	32,088	$7.1M	Reduce -1.4%
C Citigroup Inc.	0.82%	80,148	$6.8M	Reduce -1.1%
T AT&T Inc.	0.81%	235,452	$6.8M	Reduce -1.6%
IEFA iShares Core MSCI Eafe ETF	0.79%	78,957	$6.6M	Add +5.4%
TEL Te Connectivity PLC	0.78%	38,812	$6.5M	Reduce -1.5%
FTNT Fortinet Inc.	0.78%	61,736	$6.5M	Reduce -1.6%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.77%	51,931	$6.4M	Reduce -1.6%
MBB iShares MBS ETF	0.75%	66,832	$6.3M	Add +10.1%
TOL Toll Brothers Inc.	0.74%	54,139	$6.2M	Reduce -7.8%
CVSA Covista Inc. filed as ADTALEM GLOBAL ED INC	0.74%	48,488	$6.2M	Reduce -1.4%
IAG Iamgold Corp.	0.72%	818,737	$6.0M	Reduce -1.5%
HCA HCA Healthcare Inc.	0.71%	15,606	$6.0M	Reduce -12.6%
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM	0.71%	83,376	$5.9M	Reduce -1.4%
BCS Barclays PLC-Spons ADR	0.70%	317,243	$5.9M	Reduce -1.4%
UBER Uber Technologies Inc.	0.68%	61,335	$5.7M	New
VRSN Verisign Inc.	0.68%	19,734	$5.7M	Reduce -8.9%
AEM Agnico Eagle Mines Ltd.	0.67%	46,805	$5.6M	Reduce -1.6%
NOK Nokia Corp.-Spon ADR	0.65%	1,048,613	$5.4M	Add +42.6%
FFIV F5 Inc.	0.65%	18,413	$5.4M	Add +43.7%
LRN Stride Inc.	0.64%	36,993	$5.4M	Reduce -1.5%
ERIC Ericsson (lm) Tel-SP ADR filed as TELEFONAKTIEBOLAGET LM ERICS	0.61%	602,678	$5.1M	Add +49.1%
THC Tenet Healthcare Corp.	0.61%	28,857	$5.1M	Reduce -11.9%
MTBA Simplify MBS ETF	0.60%	99,986	$5.0M	Reduce -19.3%
LAUR Laureate Education Inc.	0.59%	212,592	$5.0M	Reduce -1.4%
FXE Invesco Currencyshares Euro	0.58%	44,735	$4.9M	Add +6.8%
AGG iShares Core U.S. Aggregate	0.57%	47,795	$4.7M	No change
UTI Universal Technical Institut	0.55%	136,521	$4.6M	Reduce -1.5%
TWLO Twilio Inc. Class A	0.54%	36,638	$4.6M	Reduce -8.8%
HIG Hartford Insurance Group Inc.	0.53%	35,010	$4.4M	Reduce -1.5%
CARG Cargurus Inc.	0.53%	131,549	$4.4M	Reduce -7.4%
VONV Vanguard Russell 1000 Value	0.52%	50,846	$4.3M	No change
PNC PNC Financial Services Group	0.52%	23,140	$4.3M	New
TRV The Travelers Cos Inc.	0.51%	15,907	$4.3M	Reduce -1.3%
USB US Bancorp	0.49%	91,347	$4.1M	New
PSQ Proshares Short QQQ	0.49%	122,369	$4.1M	Reduce -64.1%
RJF Raymond James Financial Inc.	0.49%	26,616	$4.1M	Reduce -1.4%
SSNC Ss&c Technologies Holdings	0.47%	48,012	$4.0M	Add +1.2%
GDDY GoDaddy Inc. Class A	0.47%	21,899	$3.9M	Reduce -8.4%
FTDR Frontdoor Inc.	0.46%	65,531	$3.9M	Add +978.5%
ALL Allstate Corp.	0.46%	19,089	$3.8M	Reduce -1.6%
UGI Ugi Corp.	0.46%	105,215	$3.8M	Add +12.7%
CMCSA Comcast Corp. Class A	0.45%	106,225	$3.8M	Reduce -1.6%
DY Dycom Industries Inc.	0.45%	15,393	$3.8M	New
EHC Encompass Health Corp.	0.44%	30,016	$3.7M	Reduce -1.5%
MKL Markel Group Inc.	0.43%	1,810	$3.6M	Reduce -2.4%
SANM Sanmina Corp.	0.42%	36,208	$3.5M	New
PAAS Pan American Silver Corp.	0.42%	123,572	$3.5M	Reduce -1.5%
STRA Strategic Education Inc.	0.42%	41,196	$3.5M	Reduce -1.4%
AKAM Akamai Technologies Inc.	0.42%	43,777	$3.5M	Reduce -8.9%
EGO Eldorado Gold Corp.	0.42%	171,214	$3.5M	Reduce -1.5%
PYPL PayPal Holdings Inc.	0.41%	45,786	$3.4M	Reduce -12.7%
PLXS Plexus Corp.	0.41%	25,081	$3.4M	New
MDU Mdu Resources Group Inc.	0.40%	202,649	$3.4M	Add +11.3%
RCL Royal Caribbean Cruises Ltd.	0.40%	10,775	$3.4M	Reduce -1.4%
VIRT Virtu Financial Inc. Class A	0.40%	74,840	$3.4M	Reduce -1.6%
QLYS Qualys Inc.	0.40%	23,410	$3.3M	Reduce -1.7%
AIZ Assurant Inc.	0.40%	16,780	$3.3M	Reduce -1.8%
UHS Universal Health Services-B	0.39%	18,069	$3.3M	Reduce -13.2%
ACGL Arch Capital Group Ltd.	0.38%	35,164	$3.2M	Reduce -1.4%
OKTA Okta Inc.	0.38%	31,697	$3.2M	Reduce -1.6%
CCL Carnival Corp.	0.37%	111,327	$3.1M	Reduce -1.6%
NJR New Jersey Resources Corp.	0.37%	69,635	$3.1M	Add +11.0%
ADT Adt Inc.	0.37%	365,317	$3.1M	Add +672.9%
OGS One Gas Inc.	0.36%	42,499	$3.1M	Add +2.3%
CNXC Concentrix Corp.	0.36%	57,604	$3.0M	Add +1.9%
SR Spire Inc.	0.36%	41,490	$3.0M	Add +2.5%
LTH Life Time Group Holdings Inc.	0.36%	98,855	$3.0M	Reduce -1.5%
CHTR Charter Communications Inc. Class A	0.35%	7,162	$2.9M	Reduce -2.1%
CI The Cigna Group	0.35%	8,843	$2.9M	New
XLV SS Health Care Select Sector	0.35%	21,569	$2.9M	Add +29.3%
EQX Equinox Gold Corp.	0.35%	505,518	$2.9M	Reduce -1.6%
CSGS CSG Systems Intl Inc.	0.34%	43,593	$2.8M	Add +2.4%
CVS CVS Health Corp.	0.34%	41,140	$2.8M	New
VZ Verizon Communications Inc.	0.34%	65,523	$2.8M	Reduce -1.5%
LAD Lithia Motors Inc.	0.33%	8,260	$2.8M	New
EXPE Expedia Group Inc.	0.33%	16,233	$2.7M	Reduce -1.3%
TNL Travel + Leisure Co.	0.33%	52,913	$2.7M	Reduce -1.5%
ABG Asbury Automotive Group	0.32%	11,395	$2.7M	New
MMS Maximus Inc.	0.32%	38,595	$2.7M	Add +2.0%
WNS WNS Holdings Ltd. filed as WNS HLDGS LTD	0.31%	41,644	$2.6M	Add +2.0%
PRKS United Parks & Resorts Inc.	0.30%	54,083	$2.6M	Reduce -1.5%
H Hyatt Hotels Corp. Class A	0.30%	18,108	$2.5M	Reduce -1.8%
THG Hanover Insurance Group Inc./	0.28%	13,751	$2.3M	Reduce -1.3%
IGV iShares Expanded Tech-Softwa	0.27%	20,826	$2.3M	Add +2.6%
GDX Vaneck Gold Miners ETF	0.27%	43,460	$2.3M	Add +2.6%
XLU St Sr Utl SL SE SPDR ETF-Usd	0.27%	27,526	$2.2M	Add +80.1%
NCLH Norwegian Cruise Line Holdin	0.26%	107,021	$2.2M	Reduce -1.6%
KMPR Kemper Corp.	0.25%	32,840	$2.1M	Reduce -1.5%
DOCN Digitalocean Holdings Inc.	0.25%	73,477	$2.1M	Reduce -8.9%
WTM White Mountains Insurance GP	0.25%	1,165	$2.1M	Reduce -1.9%
EMXC iShares MSCI Emr MRK Ex Chna	0.25%	33,050	$2.1M	No change
WIX Wix.com Ltd.	0.23%	11,951	$1.9M	Reduce -12.2%
BHE Benchmark Electronics Inc.	0.21%	45,097	$1.8M	New
CTS CTS Corp.	0.21%	40,404	$1.7M	New
DGII Digi International Inc.	0.20%	48,798	$1.7M	Reduce -1.6%
VCSH Vanguard S/T Corp. Bond ETF	0.18%	18,513	$1.5M	Add +62.5%
IHF iShares U.S. Healthcare Prov	0.17%	28,860	$1.4M	Add +2.6%
RSPD Invesco S&P 500 Equal Weight	0.15%	23,805	$1.3M	Add +2.7%
IYZ iShares US Telecommunication	0.15%	42,014	$1.3M	Add +2.6%
JETS US Global Jets ETF	0.15%	53,461	$1.2M	Add +2.6%
VGSH Vanguard Short-Term Treasury	0.12%	17,786	$1.0M	Add +42.7%
XLI SS Industrial Select Sector	0.12%	6,760	$997K	Add +2.6%
IAK iShares U.S. Insurance ETF	0.12%	7,308	$983K	Add +2.6%
LST Leuthold Sel Ind filed as MANAGED PORTFOLIO SERIES	0.10%	23,464	$863K	Add +199.1%
QLTA iShares Aaa - A Rated Corpor	0.10%	16,882	$808K	Add +207.8%
BCI Abrdn Bloomberg All Commodit filed as ABRDN ETFS	0.09%	36,609	$760K	No change
KBWB Invesco KBW Bank ETF	0.08%	9,210	$660K	Add +2.8%
EG Everest Group Ltd.	0.08%	1,883	$640K	No change
KCE SS SPDR S&P Cap MKTS ETF	0.08%	4,402	$638K	Add +2.4%
JAAA Janus Henderson Aaa Clo ETF	0.08%	12,516	$635K	Reduce -93.1%
SAN Banco Santander SA-Spon ADR	0.07%	68,900	$572K	No change
CRM Salesforce Inc.	0.07%	2,016	$550K	No change
EBAY eBay Inc.	0.07%	7,371	$549K	No change
PRDO Perdoceo Education Corp.	0.07%	16,690	$546K	Add +60.1%
GHC Graham Holdings Co. Class B	0.06%	539	$510K	Add +46.9%
MRP Millrose Properties	0.06%	17,581	$501K	Reduce -7.2%
VOD Vodafone Group PLC-SP ADR	0.06%	46,769	$499K	No change
AXS Axis Capital Holdings Ltd.	0.06%	4,609	$479K	No change
AGGY Wisdomtree Yield Enhanced US	0.06%	10,932	$477K	New
IDCC Interdigital Inc.	0.06%	2,071	$464K	No change
MFG Mizuho Financial Group-ADR	0.05%	82,038	$456K	No change
ORI Old Republic Intl Corp.	0.05%	11,801	$454K	No change
SNPS Synopsys Inc.	0.05%	880	$451K	No change
PEJ Invesco Leisure & Entertainm	0.05%	7,846	$446K	New
LQD Ishr Ibx Usd Invgd CB ETF-Ui	0.05%	4,063	$445K	New
DBX Dropbox Inc. Class A	0.05%	15,513	$444K	No change
DAL Delta Air Lines Inc.	0.05%	8,969	$441K	No change
TIMB Tim SA-ADR	0.05%	20,903	$420K	New
UBS UBS Group AG-Reg	0.05%	12,323	$417K	No change
ZM Zoom Communications Inc.	0.05%	5,328	$415K	No change
GM General Motors Co.	0.05%	8,436	$415K	No change
USMV iShares MSCI USA Min Vol Fac	0.05%	4,382	$411K	New
YOU Clear Secure Inc. Class A	0.05%	14,703	$408K	No change
DOCU Docusign Inc.	0.05%	5,188	$404K	No change
IBKR Interactive Brokers Gro Class A	0.05%	7,100	$393K	No change
MGA Magna International Inc.	0.05%	10,042	$388K	New
SAP Sap SE-Sponsored ADR	0.05%	1,248	$380K	New
SKM SK Telecom Co. Ltd.-Spon ADR	0.04%	15,827	$370K	New
HRB H&R Block Inc. filed as BLOCK H & R INC	0.04%	6,718	$369K	No change
TTE Totalenergies SE -Spon ADR	0.04%	5,982	$367K	New
L Loews Corp.	0.04%	3,998	$366K	No change
CVX Chevron Corp.	0.04%	2,559	$366K	New
SU Suncor Energy Inc.	0.04%	9,653	$362K	New
ASR Grupo Aeroportuario Sur-ADR	0.04%	1,117	$356K	No change
WFC Wells Fargo & Co.	0.04%	4,334	$347K	Reduce -7.8%
IJR iShares Core S&P Small-Cap E	0.04%	3,160	$345K	New
ALV Autoliv Inc.	0.04%	2,976	$333K	New
CPA Copa Holdings SA Class A	0.04%	3,023	$332K	No change
ACIW Aci Worldwide Inc.	0.04%	7,124	$327K	No change
MTB M & T Bank Corp. filed as M & T BK CORP	0.03%	1,478	$287K	Reduce -94.3%
DDS Dillards Inc. Class A	0.03%	679	$284K	No change
ONB Old National Bancorp	0.03%	12,416	$265K	Reduce -92.0%
PRIM Primoris Services Corp.	0.03%	3,375	$263K	New
CMA Comerica Inc.	0.03%	4,385	$262K	No change
OPRA Opera Ltd.-ADR	0.03%	13,815	$261K	No change
LEA Lear Corp.	0.03%	2,701	$257K	New
EQNR Equinor ASA-Spon ADR	0.03%	9,724	$244K	New
CVE Cenovus Energy Inc.	0.03%	17,940	$244K	New
CB Chubb Ltd.	0.03%	819	$237K	No change
SCHD Schwab US DVD Equity ETF	0.03%	8,827	$234K	New
EC Ecopetrol SA-Sponsored ADR	0.03%	26,071	$231K	New
YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA	0.03%	7,266	$229K	New
QUAL iShares MSCI USA Quality Fac	0.03%	1,209	$221K	New
ACWI iShares MSCI Acwi ETF	0.03%	1,716	$221K	New
VMI Valmont Industries	0.03%	673	$220K	New
FNDF Schwab Fndmn Intl LRG Co. ETF	0.02%	5,216	$209K	New
ZIM Zim Integrated Shipping Serv	0.02%	12,767	$205K	New
MATX Matson Inc.	0.02%	1,798	$200K	New

Portfolio Sells Q1 2025 → Q2 2025


PSQ Proshares Short QQQ	Reduce -64.1%	0.49%	−1.31
JAAA Janus Henderson Aaa Clo ETF	Reduce -93.1%	0.08%	−1.12
SPDN Dir DLY SP 500 BR 1X ETF-Usi	Reduce -8.8%	2.13%	−0.73
EMLC Vaneck JPM Em Local Curr BND	Sold out	0.00%	−0.68
MTB M & T Bank Corp.	Reduce -94.3%	0.03%	−0.57
HBAN Huntington Bancshares Inc.	Sold out	0.00%	−0.51
G Genpact Ltd.	Sold out	0.00%	−0.51
CFG Citizens Financial Group	Sold out	0.00%	−0.49
MTCH Match Group Inc.	Sold out	0.00%	−0.48
MRK Merck & Co. Inc.	Sold out	0.00%	−0.48
ONB Old National Bancorp	Reduce -92.0%	0.03%	−0.39
VOYA Voya Financial Inc.	Sold out	0.00%	−0.39
RWM Proshares Short RUSSELL2000	Reduce -6.3%	1.34%	−0.37
FITB Fifth Third Bancorp	Sold out	0.00%	−0.37
COLB Columbia Banking System Inc.	Sold out	0.00%	−0.36
GPN Global Payments Inc.	Sold out	0.00%	−0.35
FCNCA First Citizens Bcshs Class A	Sold out	0.00%	−0.35
PPLI People Inc.	Sold out	0.00%	−0.33
CADE Cadence Bank	Sold out	0.00%	−0.31
PINS Pinterest Inc. Class A	Sold out	0.00%	−0.30
JAZZ Jazz Pharmaceuticals PLC	Sold out	0.00%	−0.28
TMUS T-Mobile US Inc.	Reduce -1.4%	1.12%	−0.26
XYZ Block Inc.	Sold out	0.00%	−0.25
MTBA Simplify MBS ETF	Reduce -19.3%	0.60%	−0.21
CON Concentra Group Holdings Par	Sold out	0.00%	−0.20
SEM Select Medical Holdings Corp.	Sold out	0.00%	−0.19
ITB iShares U.S. Home Constructi	Sold out	0.00%	−0.17
PHM Pultegroup Inc.	Reduce -7.7%	1.12%	−0.17
V Visa Inc. Class A	Reduce -9.1%	0.85%	−0.15
DHI D.R. Horton Inc.	Reduce -7.7%	0.91%	−0.15
SHY iShares 1-3 Year Treasury Bo	Reduce -0.1%	1.64%	−0.14
UHS Universal Health Services-B	Reduce -13.2%	0.39%	−0.12
CHKP Check Point Software Tech	Reduce -1.4%	0.85%	−0.11
EQX Equinox Gold Corp.	Reduce -1.6%	0.35%	−0.11
DOCN Digitalocean Holdings Inc.	Reduce -8.9%	0.25%	−0.10
KRE SS SPDR S&P Regional Bank	Sold out	0.00%	−0.10
GDDY GoDaddy Inc. Class A	Reduce -8.4%	0.47%	−0.09
HCA HCA Healthcare Inc.	Reduce -12.6%	0.71%	−0.09
AKAM Akamai Technologies Inc.	Reduce -8.9%	0.42%	−0.09
MA Mastercard Inc. Class A	Reduce -1.6%	1.01%	−0.08
FISV Fiserv Inc.	Sold out	0.00%	−0.08
JD Jd.com Inc.-ADR	Sold out	0.00%	−0.08
AIZ Assurant Inc.	Reduce -1.8%	0.40%	−0.07
TOL Toll Brothers Inc.	Reduce -7.8%	0.74%	−0.07
T AT&T Inc.	Reduce -1.6%	0.81%	−0.06
CMCSA Comcast Corp. Class A	Reduce -1.6%	0.45%	−0.06
ACGL Arch Capital Group Ltd.	Reduce -1.4%	0.38%	−0.06
ALL Allstate Corp.	Reduce -1.6%	0.46%	−0.06
WIX Wix.com Ltd.	Reduce -12.2%	0.23%	−0.06
OKTA Okta Inc.	Reduce -1.6%	0.38%	−0.06

Portfolio Buys Q1 2025 → Q2 2025


VTIP Vanguard Short-Term Tips	Add +808.3%	1.28%	+1.13
UBER Uber Technologies Inc.	New	0.68%	+0.68
PNC PNC Financial Services Group	New	0.52%	+0.52
USB US Bancorp	New	0.49%	+0.49
IBND SS SPDR BB Intl Corp. BD ETF	Add +86.9%	1.00%	+0.47
IGOV iShares International Treasu	Add +43.2%	1.49%	+0.46
DY Dycom Industries Inc.	New	0.45%	+0.45
FTDR Frontdoor Inc.	Add +978.5%	0.46%	+0.43
SANM Sanmina Corp.	New	0.42%	+0.42
PLXS Plexus Corp.	New	0.41%	+0.41
CSCO Cisco Systems Inc.	Add +46.7%	1.02%	+0.35
CI The Cigna Group	New	0.35%	+0.35
CVS CVS Health Corp.	New	0.34%	+0.34
LAD Lithia Motors Inc.	New	0.33%	+0.33
ABG Asbury Automotive Group	New	0.32%	+0.32
ADT Adt Inc.	Add +672.9%	0.37%	+0.32
XLK SS Technology Select Sector	Add +10.6%	1.18%	+0.23
FXY Invesco Currencyshares Japan	Add +33.7%	1.03%	+0.22
BHE Benchmark Electronics Inc.	New	0.21%	+0.21
CTS CTS Corp.	New	0.21%	+0.21
FFIV F5 Inc.	Add +43.7%	0.65%	+0.20
ERIC Ericsson (lm) Tel-SP ADR	Add +49.1%	0.61%	+0.20
SPIB SS SPDR P Int C Corp. ETF	Add +18.7%	1.56%	+0.15
NOK Nokia Corp.-Spon ADR	Add +42.6%	0.65%	+0.15
XLU St Sr Utl SL SE SPDR ETF-Usd	Add +80.1%	0.27%	+0.11
LST Leuthold Sel Ind	Add +199.1%	0.10%	+0.07
QLTA iShares Aaa - A Rated Corpor	Add +207.8%	0.10%	+0.06
BWX SS SPDR BB Intl Treasury BD	Add +3.9%	2.35%	+0.06
IEF iShares 7-10 Year Treasury B	Add +16.0%	0.92%	+0.06
VCSH Vanguard S/T Corp. Bond ETF	Add +62.5%	0.18%	+0.06
XLC SS Comm Select Sector SPDR	Add +2.1%	1.08%	+0.06
AGGY Wisdomtree Yield Enhanced US	New	0.06%	+0.06
UGI Ugi Corp.	Add +12.7%	0.46%	+0.06
PEJ Invesco Leisure & Entertainm	New	0.05%	+0.05
LQD Ishr Ibx Usd Invgd CB ETF-Ui	New	0.05%	+0.05
IEFA iShares Core MSCI Eafe ETF	Add +5.4%	0.79%	+0.05
TIMB Tim SA-ADR	New	0.05%	+0.05
USMV iShares MSCI USA Min Vol Fac	New	0.05%	+0.05
MGA Magna International Inc.	New	0.05%	+0.05
SAP Sap SE-Sponsored ADR	New	0.05%	+0.05
SKM SK Telecom Co. Ltd.-Spon ADR	New	0.04%	+0.04
TTE Totalenergies SE -Spon ADR	New	0.04%	+0.04
CVX Chevron Corp.	New	0.04%	+0.04
SU Suncor Energy Inc.	New	0.04%	+0.04
IVV iShares Core S&P 500 ETF	Add +2.4%	1.09%	+0.04
IJR iShares Core S&P Small-Cap E	New	0.04%	+0.04
ALV Autoliv Inc.	New	0.04%	+0.04
IGV iShares Expanded Tech-Softwa	Add +2.6%	0.27%	+0.04
FXE Invesco Currencyshares Euro	Add +6.8%	0.58%	+0.04
PRIM Primoris Services Corp.	New	0.03%	+0.03

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