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Livermore
Livermore
ZHEN

Leuthold Group, LLC

SEC CIK
0001170152
Latest filing
Aug 4, 2026

The latest 13F from Leuthold Group, LLC covers Q2 2026 (filed Aug 4, 2026): 237 long positions worth $995.2M. The top 10 holdings make up 17.4% of the portfolio, and the largest is Direxion Shares ETF Trust at 2.6%. Livermore has 23 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
37
Est. +$95.0M
Added
28
Est. +$27.4M
Reduced
131
Est. −$140.6M
Sold out
11
Est. −$28.6M

Top 5 holdings

Share of this quarter's portfolio value

  1. Direxion Shares ETF Trust25460E869
    2.6%$26.3M
  2. GOOGLAlphabet Inc.
    2.3%$22.8MHistory
  3. FLEXFlex Ltd.
    2.0%$19.9MHistory
  4. MSFTMicrosoft Corp
    1.7%$17.4MHistory
  5. CSCOCisco Systems, Inc.
    1.7%$16.9MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. DVNDevon Energy Corp
    +$7.83MAddedHistory
  2. iShares Tips Bond ETF464287176
    +$7.24MNew
  3. ELVElevance Health, Inc.
    +$6.69MNewHistory
  4. iShares Tr46429B747
    +$6.55MNew
  5. AMDAdvanced Micro Devices Inc
    +$6.22MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. AMDAdvanced Micro Devices Inc
    +0.91 pp0.2% → 1.1%History
  2. DVNDevon Energy Corp
    +0.77 pp0.1% → 0.8%History
  3. iShares Tips Bond ETF464287176
    +0.73 pp0.0% → 0.7%
  4. ELVElevance Health, Inc.
    +0.67 pp0.0% → 0.7%History
  5. iShares Tr46429B747
    +0.66 pp0.0% → 0.7%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. GSGoldman Sachs Group Inc
    −$17.4MReducedHistory
  2. MSMorgan Stanley
    −$13.9MReducedHistory
  3. FLEXFlex Ltd.
    −$12.5MReducedHistory
  4. DBDeutsche Bank Aktiengesellschaft
    −$8.24MReducedHistory
  5. SPDR Series Trust78464A151
    −$7.35MReduced

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. GSGoldman Sachs Group Inc
    −1.54 pp1.7% → 0.1%History
  2. MSMorgan Stanley
    −1.15 pp1.2% → 0.1%History
  3. SPDR Series Trust78464A151
    −0.78 pp0.8% → 0.1%
  4. SPDR Series Trust78464A516
    −0.78 pp1.9% → 1.2%
  5. DBDeutsche Bank Aktiengesellschaft
    −0.77 pp0.8% → 0.1%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$995.2M
+$56.4M (+6.0%) vs. prior quarter
Positions
237
+26 vs. prior quarter
Top 10 concentration
17.4%
Top 10 as share of value
Turnover
12.7%
Q2 2026, one quarter
Average holding period
9.0 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $995.2M (Q2 2026)

Q1 2021: $793.0MQ2 2021: $814.5MQ3 2021: $815.0MQ4 2021: $853.6MQ1 2022: $780.8MQ2 2022: $704.3MQ3 2022: $663.6MQ4 2022: $742.0MQ1 2023: $757.2MQ2 2023: $771.8MQ3 2023: $713.0MQ4 2023: $799.2MQ1 2024: $888.0MQ2 2024: $865.2MQ3 2024: $899.6MQ4 2024: $832.6MQ1 2025: $770.1MQ2 2025: $837.0MQ3 2025: $914.0MQ4 2025: $926.0MQ1 2026: $938.7MQ2 2026: $995.2M
Q1 2021Q2 2026
13F filings of Leuthold Group, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 4, 2026237$995.2MDirexion Shares ETF TrustGOOGLFLEXvs. Q1 2026SEC
Q1 2026May 6, 2026211$938.7MDirexion Shares ETF TrustGOOGLSPDR Series Trustvs. Q4 2025SEC
Q4 2025Feb 5, 2026207$926.0MMSFTDirexion Shares ETF TrustGOOGLvs. Q3 2025SEC
Q3 2025Nov 6, 2025205$914.0MMSFTMETASPDR Series Trustvs. Q2 2025SEC
Q2 2025Aug 13, 2025206$837.0MMSFTMETASPDR Series Trustvs. Q1 2025SEC
Q1 2025May 13, 2025201$770.1MDirexion Shares ETF TrustMSFTSPDR Series Trustvs. Q4 2024SEC
Q4 2024Feb 3, 2025191$832.6MMSFTMETAiShares Trvs. Q3 2024SEC
Q3 2024Oct 24, 2024172$899.6MMSFTiShares TrMETAvs. Q2 2024SEC
Q2 2024Aug 12, 2024180$865.2MMSFTLRCXMETAvs. Q1 2024SEC
Q1 2024May 6, 2024178$888.0MMSFTLRCXDirexion Shares ETF Trustvs. Q4 2023SEC
Q4 2023Feb 6, 2024174$799.2MMSFTDirexion Shares ETF TrustLRCXvs. Q3 2023SEC
Q3 2023Nov 7, 2023182$713.0MDirexion Shares ETF TrustMSFTLRCXvs. Q2 2023SEC
Q2 2023Aug 8, 2023199$771.8MMSFTDirexion Shares ETF TrustAAPLvs. Q1 2023SEC
Q1 2023Apr 18, 2023191$757.2MDirexion Shares ETF TrustMSFTSPDR Series Trustvs. Q4 2022SEC
Q4 2022Feb 7, 2023Amended191$742.0MDirexion Shares ETF TrustSPDR Series TrustProShares Trvs. Q3 2022SEC
Q3 2022Oct 31, 2022181$663.6MDirexion Shares ETF TrustProShares TrMSFTvs. Q2 2022SEC
Q2 2022Aug 1, 2022183$704.3MDirexion Shares ETF TrustVanguard Malvern FDSProShares Trvs. Q1 2022SEC
Q1 2022May 4, 2022189$780.8MDirexion Shares ETF TrustMSFTTGTvs. Q4 2021SEC
Q4 2021Feb 3, 2022199$853.6MGLDMSFTLRCXvs. Q3 2021SEC
Q3 2021Nov 15, 2021197$815.0MVanguard Malvern FDSGLDTGTvs. Q2 2021SEC
Q2 2021Aug 13, 2021182$814.5MVanguard Malvern FDSGLDTGTvs. Q1 2021SEC
Q1 2021May 17, 2021179$793.0MGLDiShares Core MSCI Emerging Markets ETFSPDR Series Trust–SEC

13D and 13G filings

Companies where Leuthold Group, LLC reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

2 companies, largest stake first.

Companies where Leuthold Group, LLC owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
ProShares TrustProShares Short Russell2000 ETF13G/A12.90%865.8K shares+5.80 ppfrom 7.10%Feb 14, 20243 filingsFeb 3, 2026SEC
Direxion Shares ETF TrustDirexion Daily S&P 500 Bear 1X Shares13G/A10.30%2.48M shares−8.40 ppfrom 18.70%Feb 5, 202110 filingsDec 5, 2025SEC

Latest filings

15 filings on file made by Leuthold Group, LLC or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by Leuthold Group, LLC
CompanyFiled (ET)FormStakeChangeEvent dateFiling
ProShares TrustProShares Short Russell2000 ETFFeb 3, 20266:13 PM ET13G/A12.90%865.8K shares+5.80 ppfrom 7.10%Jan 31, 2026SEC
Direxion Shares ETF TrustDirexion Daily S&P 500 Bear 1X SharesDec 5, 202512:22 PM ET13G/A10.30%2.48M shares−8.40 ppfrom 18.70%Dec 1, 2025SEC
Direxion Shares ETF TrustDirexion Daily S&P 500 Bear 1X SharesOct 2, 20254:43 PM ET13G/A18.70%2.53M shares+7.20 ppfrom 11.50%Oct 1, 2025SEC
FXYInvesco CurrencyShares Japanese Yen TrustFeb 14, 202512:26 PM ET13G/A1.41%94.6K shares–Below 5%Jan 31, 2025SEC
ProShares TrustProShares Short Russell 2000Feb 14, 202512:24 PM ET13G/A7.10%480.0K shares–Jan 31, 2025SEC
Direxion Shares ETF TrustDirexion Daily S&P 500 Bear 1X SharesFeb 14, 202512:21 PM ET13G/A11.50%1.42M shares–Jan 31, 2025SEC
Direxion Shares ETF TrustOct 8, 202413G/AOld format–––SEC
ProShares TrustFeb 14, 202413GOld format–New–SEC
Direxion Shares ETF TrustFeb 14, 202413G/AOld format–––SEC
Direxion Shares ETF TrustNov 8, 202313G/AOld format–––SEC
Direxion Shares ETF TrustMar 8, 202213G/AOld format–––SEC
Direxion Shares ETF TrustFeb 2, 202213G/AOld format–––SEC
Direxion Shares ETF TrustJun 10, 202113G/AOld format–––SEC
FXYInvesco CurrencyShares Japanese Yen TrustFeb 5, 202113G/AOld format–––SEC
Direxion Shares ETF TrustFeb 5, 202113G/AOld format–––SEC