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LEUTHOLD GROUP, LLC

150 SOUTH FIFTH STREET SUITE 1700, MINNEAPOLIS, MN 55402 • 6123329141

Q4 2025 · Filed 2026-02-05
Market Value
$919M
+1.6%
Holdings
245
+9
New Purchases
42
Added To
107
Closed
40
Reduced
50
Top 10 Concentration
18.6%
Turnover
33.5%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
FDX 1.18% 0.00% +1.18% $11M
UPS 1.15% 0.00% +1.15% $11M
UNH 1.01% 0.00% +1.01% $9M
ANTM 0.86% 0.00% +0.86% $8M
JNJ 0.72% 0.00% +0.72% $7M
CRH.L 0.59% 0.00% +0.59% $5M
BMY 0.59% 0.00% +0.59% $5M
EME 0.59% 0.00% +0.59% $5M
MRK 0.56% 0.00% +0.56% $5M
SPDN 2.40% 1.85% +0.55% $22M
SLB 0.55% 0.00% +0.55% $5M
CHRW 0.54% 0.00% +0.54% $5M
GSK 0.54% 0.00% +0.54% $5M
GVA 0.57% 0.03% +0.54% $5M
EXPD 0.53% 0.00% +0.53% $5M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ORCL 0.00% 2.10% -2.10% $0
NFLX 0.00% 1.98% -1.98% $0
URI 0.00% 1.36% -1.36% $0
PHM 0.00% 1.30% -1.30% $0
DHI 0.00% 1.10% -1.10% $0
META 1.43% 2.48% -1.05% $13M
TMUS 0.07% 1.08% -1.01% $622K
TOL 0.00% 0.82% -0.82% $0
T 0.00% 0.76% -0.76% $0
CHKP 0.00% 0.70% -0.70% $0
DIS 0.00% 0.68% -0.68% $0
VRSN 0.00% 0.63% -0.63% $0
LRN 0.00% 0.63% -0.63% $0
FTNT 0.00% 0.59% -0.59% $0
XLC 0.45% 0.94% -0.50% $4M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 39.7%
Technology 15.5%
Healthcare 14.7%
Industrials 8.7%
Basic Materials 6.5%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 25 $178M 19.4%
Large Cap 117 $470M 51.1%
Mid Cap 74 $155M 16.8%
Small Cap 23 $76M 8.3%
Micro Cap 6 $40M 4.4%

Portfolio Analytics

Avg Market Cap
$106.3B
Median Market Cap
$18.0B
Avg P/E
21.9
Median P/E
17.0
Avg Dividend Yield
0.02%
Avg Beta
0.92
# Stocks
186
# ETFs / Funds
59

Top Holdings (245 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 MSFT 2.67% 50,686 $25M $483.62 -$2M -1,351 -2.6%
2 SPDN 2.40% 2,340,534 $22M $9.43 $5M +601,711 +34.6%
3 GOOGL 2.30% 67,594 $21M $313.00 $4M -2,263 -3.2%
4 BWX 2.04% 832,892 $19M $22.53 -$510K -5,140 -0.6%
5 GS 1.73% 18,083 $16M $879.00 $2M +130 +0.7%
6 JBL 1.55% 62,315 $14M $228.02 $744K +312 +0.5%
7 SPIB 1.55% 420,225 $14M $33.81 -$34K
8 KGC 1.46% 476,291 $13M $28.16 -$2M -133,640 -21.9%
9 RWM 1.46% 817,685 $13M $16.37 $3M +215,580 +35.8%
10 META 1.43% 19,970 $13M $660.09 -$9M -10,622 -34.7%
11 MCK 1.43% 16,008 $13M $820.29 $772K +10 +0.1%
12 CAH 1.42% 63,407 $13M $205.50 $3M +225 +0.4%
13 SHY 1.40% 154,959 $13M $82.82 -$473K -5,440 -3.4%
14 MS 1.35% 70,029 $12M $177.53 $1M +165 +0.2%
15 FLEX 1.35% 205,534 $12M $60.42 $543K +674 +0.3%
16 CSCO 1.30% 154,877 $12M $77.03 $3M +18,776 +13.8%
17 FDX 1.18% 37,713 $11M $288.86 +37,713 NEW
18 XLK 1.17% 74,835 $11M $143.97 $332K +37,787 +102.0%
19 UPS 1.15% 106,348 $11M $99.19 +106,348 NEW
20 ABC 1.13% 30,893 $10M $337.75 $776K -10 -0.0%
21 JPM 1.13% 32,188 $10M $322.22 $290K +225 +0.7%
22 IGOV 1.13% 248,737 $10M $41.66 -$375K -3,311 -1.3%
23 VTIP 1.13% 209,416 $10M $49.46 -$462K -4,283 -2.0%
24 IAG 1.10% 613,738 $10M $16.49 -$516K -208,877 -25.4%
25 DB 1.10% 261,209 $10M $38.56 $854K +876 +0.3%
26 C 1.06% 83,338 $10M $116.69 $1M +342 +0.4%
27 UNH 1.01% 28,134 $9M $330.11 +28,134 NEW
28 XLF 1.00% 167,820 $9M $54.77 -$139K -5,391 -3.1%
29 TEL 1.00% 40,355 $9M $227.51 $362K +181 +0.5%
30 IVV 0.97% 13,073 $9M $684.94 -$615K -1,225 -8.6%
31 BAC 0.97% 162,286 $9M $55.00 $581K +535 +0.3%
32 MA 0.97% 15,619 $9M $570.88 $26K -11 -0.1%
33 HCA 0.91% 17,927 $8M $466.86 $1M +1,772 +11.0%
34 BCS 0.91% 328,653 $8M $25.45 $2M +1,129 +0.3%
35 IBND 0.89% 255,293 $8M $32.11 -$97K -1,575 -0.6%
36 IGIB 0.87% 148,747 $8M $53.88 -$251K -4,055 -2.6%
37 ANTM 0.86% 22,531 $8M $350.55 +22,531 NEW
38 MGA 0.85% 147,172 $8M $53.30 $2M +30,893 +26.6%
39 CM 0.85% 86,430 $8M $90.61 $950K +288 +0.3%
40 MBB 0.85% 81,963 $8M $95.22 -$235K -2,533 -3.0%
41 VMBS 0.85% 165,106 $8M $47.08 -$97K -2,491 -1.5%
42 ERIC 0.83% 794,958 $8M $9.65 $2M +152,401 +23.7%
43 VRTX 0.81% 16,407 $7M $453.36 $2M +3,564 +27.8%
44 IEF 0.81% 77,137 $7M $96.16 -$75K -542 -0.7%
45 V 0.80% 20,867 $7M $350.71 $228K +99 +0.5%
46 REGN 0.79% 9,439 $7M $771.87 $4M +3,395 +56.2%
47 AMGN 0.76% 21,402 $7M $327.31 $2M +4,396 +25.9%
48 LAUR 0.75% 204,037 $7M $33.67 -$53K -15,446 -7.0%
49 GILD 0.74% 55,058 $7M $122.74 $2M +12,422 +29.1%
50 JNJ 0.72% 31,963 $7M $206.95 +31,963 NEW
51 THC 0.71% 32,784 $7M $198.72 $450K +2,912 +9.8%
52 ALV 0.70% 54,579 $6M $118.70 $1M +12,340 +29.2%
53 EGO 0.68% 174,541 $6M $35.92 $1M +171 +0.1%
54 PRIM 0.67% 49,487 $6M $124.14 -$579K +540 +1.1%
55 IEFA 0.65% 66,890 $6M $89.46 -$553K -7,980 -10.7%
56 GTX 0.63% 333,232 $6M $17.43 $2M +88,667 +36.2%
57 BIIB 0.62% 32,589 $6M $175.99 $2M +9,072 +38.6%
58 SANM 0.61% 37,660 $6M $150.07 $1M +168 +0.5%
59 DY 0.59% 16,139 $5M $337.90 $765K +69 +0.4%
60 CRH.L 0.59% 43,668 $5M $124.80 +43,668 NEW
61 BMY 0.59% 101,025 $5M $53.94 +101,025 NEW
62 LEA 0.59% 47,513 $5M $114.60 $2M +13,937 +41.5%
63 EME 0.59% 8,869 $5M $611.79 +8,869 NEW
64 FXY 0.59% 92,126 $5M $58.67 -$410K -1,355 -1.4%
65 FFIV 0.58% 20,711 $5M $255.26 -$1M +177 +0.9%
66 GVA 0.57% 45,223 $5M $115.35 $5M +42,550 +1591.8%
67 UBER 0.57% 63,823 $5M $81.71 -$1M +315 +0.5%
68 UTHR 0.57% 10,672 $5M $487.25 $2M +3,126 +41.4%
69 MRK 0.56% 49,296 $5M $105.26 +49,296 NEW
70 AEM 0.55% 30,075 $5M $169.53 -$3M -16,762 -35.8%
71 USB 0.55% 95,305 $5M $53.36 $510K +626 +0.7%
72 SLB 0.55% 131,906 $5M $38.38 +131,906 NEW
73 PNC 0.55% 24,169 $5M $208.73 $227K +190 +0.8%
74 HIG 0.54% 36,303 $5M $137.80 $181K +158 +0.4%
75 CARG 0.54% 129,570 $5M $38.35 $79K -1,789 -1.4%
76 CHRW 0.54% 30,656 $5M $160.76 +30,656 NEW
77 GSK 0.54% 100,358 $5M $49.04 +100,358 NEW
78 GT 0.53% 560,093 $5M $8.76 $2M +182,974 +48.5%
79 NTCT 0.53% 179,984 $5M $27.06 $2M +56,144 +45.3%
80 EXPD 0.53% 32,545 $5M $149.01 +32,545 NEW
81 CVSA 0.53% 46,811 $5M $103.47 -$3M -3,261 -6.5%
82 TRV 0.52% 16,592 $5M $290.06 $215K +126 +0.8%
83 HUM 0.51% 18,186 $5M $256.13 +18,186 NEW
84 VMI 0.50% 11,498 $5M $402.32 $4M +10,437 +983.7%
85 UHS 0.50% 21,072 $5M $218.02 $771K +2,374 +12.7%
86 SNY 0.49% 93,850 $5M $48.46 +93,850 NEW
87 FXE 0.49% 41,165 $4M $108.45 -$55K -541 -1.3%
88 SSNC 0.48% 50,865 $4M $87.42 -$26K +478 +0.9%
89 RJF 0.48% 27,534 $4M $160.59 -$317K +79 +0.3%
90 AGG 0.46% 42,755 $4M $99.88 -$519K -5,015 -10.5%
91 AIZ 0.46% 17,403 $4M $240.85 $429K +32 +0.2%
92 VONV 0.45% 45,234 $4M $92.30 -$367K -5,585 -11.0%
93 ALL 0.45% 19,838 $4M $208.15 -$111K +82 +0.4%
94 XLC 0.45% 35,077 $4M $117.72 -$4M -37,170 -51.5%
95 RIO 0.44% 50,899 $4M $80.03 +50,899 NEW
96 MKL 0.44% 1,890 $4M $2,149.65 $494K +23 +1.2%
97 NTGR 0.43% 159,432 $4M $24.53 $602K +57,266 +56.0%
98 EQX 0.42% 275,129 $4M $14.04 -$2M -227,741 -45.3%
99 VC 0.42% 40,502 $4M $95.10 $713K +14,319 +54.7%
100 PLXS 0.42% 26,004 $4M $147.00 $64K +30 +0.1%

New Positions

SymbolValue% Port
FDX $11M 1.18%
UPS $11M 1.15%
UNH $9M 1.01%
ANTM $8M 0.86%
JNJ $7M 0.72%
CRH.L $5M 0.59%
BMY $5M 0.59%
EME $5M 0.59%
MRK $5M 0.56%
SLB $5M 0.55%
CHRW $5M 0.54%
GSK $5M 0.54%
EXPD $5M 0.53%
HUM $5M 0.51%
SNY $5M 0.49%

Sold Out Positions

SymbolValue% Port
T —%
HRB —%
DIS —%
ABG —%
NCLH —%
DDS —%
MRP —%
VZ —%
SKM —%
YOU —%
LTH —%
CCL —%
DHI —%
RCL —%
LRN —%
View SEC EDGAR Filings for LEUTHOLD GROUP, LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms