Q2 2026 13F · SEC CIK 1170152

Leuthold Group, LLC

Mutual fund managerFiled 2026-08-04 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $995.2M
Reported positions: 237
Top holdings a year, 3 yrs: +13.5%
Assets under management: $1.2B

Leuthold Group, LLC is a mutual fund manager that reported 237 positions worth $995.2M in its Q2 2026 13F, filed 2026-08-04. Its largest holdings were Direxion Shares ETF Trust (SPDN, 2.6%), Alphabet Inc (GOOGL, 2.3%), Flex Ltd Ord (FLEX, 2.0%). A portfolio copying its top holdings returned 13.5% a year over the last 3 years, against 20.4% for the S&P 500.

Leuthold Group, LLC holdings largest 50 of 237 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Leuthold Group, LLC 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
SPDNDirexion Shares ETF Trust	2.6%	3.3%	3,035,510	-1.3%	$26.3M
GOOGLAlphabet Inc	2.3%	2.0%	63,893	-3.8%	$22.8M
FLEXFlex Ltd Ord	2.0%	1.4%	123,091	-38.6%	$19.9M
MSFTMicrosoft Corp	1.7%	1.9%	46,640	-3.2%	$17.4M
CSCOCisco Sys Inc	1.7%	1.3%	143,885	-8.7%	$16.9M
JBLJabil Inc	1.6%	1.7%	40,469	-31.3%	$15.6M
CAHCardinal Health Inc	1.5%	1.4%	61,075	-5.2%	$14.5M
NVDANvidia Corporation	1.4%	0.8%	68,568	+51.2%	$13.7M
DELLDell Technologies Inc	1.3%	—	30,222	—	$13.0M
XLKSelect Sector Spdr Tr	1.3%	1.0%	66,606	-5.2%	$12.7M
SHYIshares Tr	1.2%	1.4%	149,887	-4.5%	$12.3M
GTXGarrett Motion Inc	1.2%	—	322,518	—	$11.7M
MCKMckesson Corp	1.2%	1.5%	15,354	-5.0%	$11.6M
FDXFedex Corp	1.2%	1.5%	36,855	-4.2%	$11.5M
BWXSpdr Series Trust	1.2%	1.9%	531,295	-35.9%	$11.5M
RWMProshares Tr	1.2%	1.5%	864,330	-0.5%	$11.5M
SPIBSpdr Series Trust	1.1%	1.5%	337,668	-19.6%	$11.3M
CCitigroup Inc	1.1%	1.0%	80,600	-5.2%	$11.3M
UPSUnited Parcel Svcs Inc	1.1%	1.1%	103,834	-4.3%	$11.2M
AMDAdvanced Micro Devices Inc	1.1%	—	18,545	—	$10.8M
METAMeta Platforms Inc	1.1%	1.2%	19,101	-5.1%	$10.8M
VTIPVanguard Malvern Fds	1.1%	1.1%	209,972	+0.6%	$10.5M
KGCKinross Gold Corp	1.0%	1.5%	438,079	-4.3%	$10.3M
JPMJpmorgan Chase & Co	1.0%	1.0%	31,099	-5.0%	$10.2M
IGOVIshares International Treasury Bond ETF	1.0%	1.1%	246,891	-0.4%	$10.1M
IVVIshares Tr	1.0%	0.9%	13,036	-0.0%	$9.8M
CMCanadian Imperial Bank of Co	1.0%	0.9%	83,342	-4.9%	$9.6M
MGAMagna Intl Inc	0.9%	0.9%	141,976	-4.9%	$9.3M
SANMSanmina Corp	0.9%	—	36,379	—	$9.2M
HCAHca Healthcare Inc	0.9%	0.9%	23,005	+27.4%	$9.0M
BACBank of Amer Corp	0.9%	0.9%	156,480	-5.2%	$8.9M
IAGIamgold Corp	0.9%	1.2%	558,547	-3.8%	$8.8M
ERICEricsson	0.9%	1.0%	767,612	-5.4%	$8.6M
LRCXLam Research Corp	0.9%	—	19,702	—	$8.5M
BCSBarclays PLC	0.9%	0.8%	316,950	-4.8%	$8.5M
DVNDevon Energy Corp New	0.8%	—	204,176	—	$8.4M
FFIVF5 Inc	0.8%	—	20,249	—	$8.4M
CORCencora Inc	0.8%	1.0%	29,647	-5.2%	$8.4M
DYDycom Inds Inc	0.8%	—	15,719	—	$7.9M
JNJJohnson & Johnson	0.8%	0.9%	31,085	-5.0%	$7.9M
VRTXVertex Pharmaceuticals Inc	0.8%	0.8%	15,640	-5.0%	$7.8M
MBBIshares Tr	0.8%	0.8%	80,658	-1.0%	$7.6M
IGIBIshares Tr	0.8%	0.8%	142,552	-3.5%	$7.6M
NTCTNetScout Systems, Inc.	0.8%	—	173,744	—	$7.6M
PLXSPlexus Corp	0.8%	—	25,054	—	$7.5M
AMGNAmgen Inc	0.7%	0.8%	20,512	-5.0%	$7.4M
TIPIshares Tr	0.7%	—	66,153	—	$7.2M
EMEEmcor Group Inc	0.7%	0.7%	8,701	-5.1%	$7.2M
LAURLaureate Ed Inc	0.7%	0.8%	196,485	-5.2%	$7.1M
IEFIshares Tr	0.7%	0.8%	74,708	-1.0%	$7.1M

What Leuthold Group, LLC bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

NVDA Nvidia Corporation+51.2% shares
HCA Hca Healthcare Inc+27.4% shares

Reduced

FLEX Flex Ltd Ord-38.6% shares
BWX Spdr Series Trust-35.9% shares
JBL Jabil Inc-31.3% shares
SPIB Spdr Series Trust-19.6% shares
CSCO Cisco Sys Inc-8.7% shares
ERIC Ericsson-5.4% shares
LAUR Laureate Ed Inc-5.2% shares
C Citigroup Inc-5.2% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +14.8% /yr; S&P 500 +20.1%
3 years: +13.5% /yr; S&P 500 +20.4%
5 years: +6.3% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$995.2M	237
Q1 2026	$938.7M	211
Q4 2025	$926.0M	207
Q3 2025	$914.0M	205
Q2 2025	$837.0M	206
Q1 2025	$770.1M	201
Q4 2024	$832.6M	191
Q3 2024	$899.6M	172
Q2 2024	$865.2M	180
Q1 2024	$888.0M	178
Q4 2023	$799.2M	174
Q3 2023	$713.0M	182

Questions about Leuthold Group, LLC's portfolio

What stocks does Leuthold Group, LLC own?

Leuthold Group, LLC's latest 13F, for Q2 2026 and filed Aug 4, 2026, lists 237 positions worth $995.2M. The largest are Direxion Shares ETF Trust (SPDN) at 2.6%, Alphabet Inc (GOOGL) at 2.3%, Flex Ltd Ord (FLEX) at 2.0%, Microsoft Corp (MSFT) at 1.7% and Cisco Sys Inc (CSCO) at 1.7%.

What did Leuthold Group, LLC buy last quarter?

In Q2 2026, Leuthold Group, LLC added Nvidia Corporation (NVDA) (+51.2% shares) and Hca Healthcare Inc (HCA) (+27.4% shares), compared with its Q1 2026 filing.

What did Leuthold Group, LLC sell last quarter?

In Q2 2026, Leuthold Group, LLC cut from its top 50 Goldman Sachs Group Inc (GS), cut from its top 50 Morgan Stanley (MS), cut from its top 50 Te Connectivity PLC (TEL), cut from its top 50 Spdr Series Trust (IBND), cut from its top 50 Deutsche Bk AG (DB), Flex Ltd Ord (FLEX) (-38.6% shares), Spdr Series Trust (BWX) (-35.9% shares) and Jabil Inc (JBL) (-31.3% shares), compared with its Q1 2026 filing.

How has Leuthold Group, LLC's portfolio performed?

A portfolio copying Leuthold Group, LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +13.5% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +14.8% against +20.1%. Over 5 years: +6.3% a year against +11.6%.

When is Leuthold Group, LLC's next 13F filing due?

13F filings are due 45 days after each quarter ends. Leuthold Group, LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Leuthold Group, LLC manage?

Leuthold Group, LLC reported $1.2B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $995.2M.