LEUTHOLD GROUP, LLC
SEC Form 13F institutional filer · CIK 0001170152
13F-HR · 85 reported holdings · 2026-03-31
Reported long-US-equity value
$0.49B
Top-10 concentration
31.5%
LEUTHOLD GROUP, LLC — $493M AUM allocation strategy
LEUTHOLD GROUP, LLC files SEC Form 13F and reports $493M of long US equity value across 85 reported holdings for 2026-03-31.
Its largest sector bet is Information Technology 13.6%, followed by Financials 9.4% and Health Care 7.6%.
The top 10 holdings account for 32% of reported value — a broadly spread portfolio. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
LEUTHOLD GROUP, LLC — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$493M
total across 85 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
32% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$BKR +94.2K sh · +$5.94M+$DAL +55.9K sh · +$3.69M+$SRTY +51K sh · +$704K
Biggest trims (shares)
−$XLF −44.2K sh · −$3.09M−$IYY −29.5K sh · −$1.81M−$RJF −24.9K sh · −$4.04M
Exited to nil (held last quarter, gone now)
$UNH ($9.29M last qtr)$ELV ($7.9M last qtr)$UBER ($5.21M last qtr)$HUM ($4.66M last qtr)$LNT ($446K last qtr)
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Health Care Distributors7.6%—
- Electronic Manufacturing Services7.6%—
- Interactive Media & Services6.2%—
- Investment Banking & Brokerage5.5%—
- Air Freight & Logistics5.0%—
- Diversified Banks3.9%—
- Systems Software3.6%—
- Communications Equipment2.5%—
- Other holdings58.1%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
8 of 8 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $GOOG | Alphabet Inc. Class C Capital Stock | 66.4K | $19.1M | -1.2K | 3.9% |
| $MSFT | Microsoft Corporation | 48.2K | $17.8M | -2.52K | 3.6% |
| $JBL | Jabil Inc | 58.9K | $15.7M | -3.37K | 3.2% |
| $GS | Goldman Sachs Group Inc | 18.3K | $15.5M | +234 | 3.1% |
| $MCK | McKesson Corporation | 16.2K | $14M | +148 | 2.8% |
| $FDX | FedEx Corporation | 38.5K | $13.7M | +747 | 2.8% |
| $CAH | Cardinal Health Inc | 64.4K | $13.6M | +995 | 2.8% |
| $FLEX | Flex Ltd | 200K | $13.1M | -5.11K | 2.7% |
…and 77 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
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How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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