Leuthold Grizzly Short Fund
Name
As of 11/07/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
-8.9%
1 yr return
-21.3%
3 Yr Avg Return
-1.5%
5 Yr Avg Return
-15.6%
Net Assets
$75.6 M
Holdings in Top 10
93.2%
52 WEEK LOW AND HIGH
$5.7
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 2.79%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 0.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$10,000
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/07/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
GRZZX - Profile
Distributions
- YTD Total Return -8.9%
- 3 Yr Annualized Total Return -1.5%
- 5 Yr Annualized Total Return -15.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -2.93%
- Dividend Yield 14.7%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameLeuthold Grizzly Short Fund
-
Fund Family NameLeuthold
-
Inception DateMay 21, 2018
-
Shares Outstanding12559754
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerGreg Swenson
Fund Description
Leuthold Grizzly Short Fund sells stocks and exchange traded funds short. Short selling involves the sale of borrowed securities. When the Fund sells a stock short, it incurs an obligation to replace the stock borrowed at whatever its price may be at the time it purchases the stock for delivery to the securities lender. The Fund will realize a gain if at that time the price of the stock is less than the price of the stock when it was sold short, and will realize a loss if at that time the price of the stock is greater than the price of the stock when it was sold short. The aggregate amount of its outstanding securities sold short typically will be approximately equal to, or slightly
less than, its net assets. When the Fund’s outstanding securities sold short equal its net assets, it is “100% short.” The Fund utilizes a disciplined, unemotional, quantitative investment approach.
The Fund believes that in all market conditions there will exist some companies whose stocks are overvalued by the market and that capital appreciation can be realized by selling short those stocks. However, the best overall results typically will be achieved in declining stock markets. In rising stock markets the risk of loss is likely.
The Fund expects to typically hold between approximately 80 and 120 short positions. The Fund will generally tend toward the higher end of this range when the portfolio sees positive returns from its short sales (when stock prices decrease), because the decreased value of the portfolio holdings will require the Fund to purchase additional holdings to maintain the same short exposure. On the other hand, the Fund will generally tend toward the lower end of the range when the portfolio sees negative returns from its short sales (when stock prices increase), because the increased value of the portfolio holdings will require fewer holdings to maintain the same short exposure.
In determining which stocks to sell short, Leuthold Weeden Capital Management (referred to as the Adviser) calculates a quantitative index for each security that it follows that is designed to identify those securities that are most likely to decline in price or underperform the market (the “Vulnerability Index”). The Adviser calculates the Vulnerability Index for a universe of roughly 1500 securities that are the largest and most liquid securities that trade on domestic exchanges. In calculating the Vulnerability Index, the Adviser considers twelve or more components. Some of the components include fundamental factors such as earnings growth or dividends, while other components consider market factors such as institutional trading activity or insider buying or selling. The Fund also follows a disciplined approach in determining when to purchase a security to "cover," or replace the security that was borrowed and sold in order to return it to the lender. The Adviser typically determines to cover shorted securities when factors used to monitor existing positions indicate the stock could be poised to increase in price. The factors the Adviser considers in determining when to cover securities sold short include:
➣ Price movements of the stocks sold short;
➣ Changes in the Vulnerability Index;
➣ Daily trading volume of the stock; and
➣ News and articles concerning the stock appearing in financial services and publications.
GRZZX - Performance
Return Ranking - Trailing
| Period | GRZZX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -8.9% | -79.6% | 355.9% | 20.47% |
| 1 Yr | -21.3% | -85.0% | 266.0% | 28.35% |
| 3 Yr | -1.5%* | -63.6% | 56.2% | 19.69% |
| 5 Yr | -15.6%* | -76.9% | 13.1% | 43.31% |
| 10 Yr | N/A* | -70.5% | 12.8% | 30.58% |
* Annualized
Return Ranking - Calendar
| Period | GRZZX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -23.5% | -85.3% | 15.3% | 42.52% |
| 2022 | 22.4% | -73.7% | 116.7% | 34.65% |
| 2021 | -15.9% | -80.9% | 94.9% | 23.62% |
| 2020 | -41.3% | -96.0% | 153.8% | 49.61% |
| 2019 | -30.1% | -84.0% | -9.3% | 41.60% |
Total Return Ranking - Trailing
| Period | GRZZX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -8.9% | -79.6% | 355.9% | 20.47% |
| 1 Yr | -21.3% | -85.0% | 266.0% | 28.35% |
| 3 Yr | -1.5%* | -63.6% | 56.2% | 19.69% |
| 5 Yr | -15.6%* | -76.9% | 13.1% | 43.31% |
| 10 Yr | N/A* | -70.5% | 12.8% | 30.58% |
* Annualized
Total Return Ranking - Calendar
| Period | GRZZX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -18.7% | -84.6% | 18.9% | 40.16% |
| 2022 | 22.4% | -73.6% | 117.2% | 34.65% |
| 2021 | -15.9% | -80.9% | 94.9% | 23.62% |
| 2020 | -41.3% | -95.9% | 153.8% | 50.39% |
| 2019 | -29.4% | -83.8% | -8.6% | 41.60% |
NAV & Total Return History
GRZZX - Holdings
Concentration Analysis
| GRZZX | Category Low | Category High | GRZZX % Rank | |
|---|---|---|---|---|
| Net Assets | 75.6 M | 269 K | 3.02 B | 23.85% |
| Number of Holdings | 111 | 4 | 799 | 6.92% |
| Net Assets in Top 10 | 61.7 M | 353 K | 2.88 B | 22.31% |
| Weighting of Top 10 | 93.20% | 37.3% | 230.5% | 88.46% |
Top 10 Holdings
- Fidelity® Inv MM Fds Government I 100.00%
- Q2 Holdings Inc 2.57%
- Snap Inc Class A 2.56%
- The Estee Lauder Companies Inc Class A 2.53%
- Microchip Technology Inc 2.51%
- Burlington Stores Inc 2.49%
- FedEx Corp 2.47%
- Exact Sciences Corp 2.46%
- TransDigm Group Inc 2.43%
- Ashland Global Holdings Inc 2.41%
Asset Allocation
| Weighting | Return Low | Return High | GRZZX % Rank | |
|---|---|---|---|---|
| Cash | 180.50% | 0.00% | 237.06% | 2.31% |
| Bonds | 15.09% | 0.00% | 92.50% | 26.15% |
| Preferred Stocks | 0.00% | 0.00% | 0.00% | 72.31% |
| Other | 0.00% | -62.82% | 156.23% | 80.77% |
| Convertible Bonds | 0.00% | 0.00% | 2.47% | 74.62% |
| Stocks | -95.58% | -106.26% | 100.00% | 99.23% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | GRZZX % Rank | |
|---|---|---|---|---|
| Cash & Equivalents | 80.28% | 0.00% | 237.06% | 29.13% |
| Derivative | 0.00% | -86.32% | 8.63% | 22.05% |
| Securitized | 0.00% | 0.00% | 15.54% | 74.02% |
| Corporate | 0.00% | 0.00% | 8.61% | 74.02% |
| Municipal | 0.00% | 0.00% | 0.06% | 74.02% |
| Government | 0.00% | 0.00% | 99.07% | 79.53% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | GRZZX % Rank | |
|---|---|---|---|---|
| US | 15.09% | 0.00% | 92.50% | 26.15% |
| Non US | 0.00% | 0.00% | 2.96% | 74.62% |
GRZZX - Expenses
Operational Fees
| GRZZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 2.79% | 0.59% | 8.36% | 25.98% |
| Management Fee | 1.25% | 0.35% | 1.50% | 98.46% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.05% | 0.03% | 0.45% | 7.50% |
Sales Fees
| GRZZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.75% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| GRZZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 2.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| GRZZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 0.00% | 0.00% | 181.00% | 35.48% |
GRZZX - Distributions
Dividend Yield Analysis
| GRZZX | Category Low | Category High | GRZZX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 14.65% | 0.00% | 17.26% | 13.08% |
Dividend Distribution Analysis
| GRZZX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| GRZZX | Category Low | Category High | GRZZX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -2.93% | -7.24% | 3.75% | 92.24% |
Capital Gain Distribution Analysis
| GRZZX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 12, 2024 | $0.206 | OrdinaryDividend |
| Mar 14, 2024 | $0.182 | OrdinaryDividend |
| Dec 14, 2023 | $0.133 | OrdinaryDividend |
| Sep 14, 2023 | $0.096 | OrdinaryDividend |
| Jun 15, 2023 | $0.090 | OrdinaryDividend |
| Mar 16, 2023 | $0.115 | OrdinaryDividend |
| Dec 19, 2019 | $0.010 | OrdinaryDividend |
| Sep 19, 2019 | $0.040 | OrdinaryDividend |
| Jun 20, 2019 | $0.112 | OrdinaryDividend |
GRZZX - Fund Manager Analysis
Managers
Greg Swenson
Start Date
Tenure
Tenure Rank
Jan 31, 2009
13.34
13.3%
In addition to theLeuthold SP Sector Rotation ETF Portfolio, Greg is a Co-Portfolio Manager for the Leuthold Select Industries, Leuthold Global Industries, Grizzly Short, Leuthold Core, and Leuthold Global Funds. He is also a member of the investment strategy committee and contributes to The Leuthold Group's institutional research publications. He joined The Leuthold Group in 2006 to aid in the development of the Global Industries framework and continues to monitor and enhance the quantitative disciplines that drive Leuthold's equity strategies. Before joining The Leuthold Group, he worked for FactSet Research Systems in Chicago as a Consultant and Account Executive. While working for FactSet Greg worked extensively with the research team at Leuthold. Greg is a CFA charterholder and graduated with honors from the University of Iowa with a Bachelor of Business Administration in Finance.
Philip Segner
Start Date
Tenure
Tenure Rank
Apr 01, 2022
0.16
0.2%
Mr. Segner is a portfolio manager of Leuthold Weeden Capital Management LLC, has been a senior analyst of The Leuthold Group since 2022, an institutional trader with The Leuthold Group since 2010, and was an analyst of The Leuthold Group between 2015-2022.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.16 | 23.76 | 9.04 | 14.22 |