# Leuthold Weeden Capital Management

> Leuthold Weeden Capital Management is an SEC-registered investment advisory firm in Minneapolis, MN, registered since 1987, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated July 6, 2026.

- CRD: 105826
- Filed as: LEUTHOLD WEEDEN CAPITAL MANAGEMENT
- Legal name: The Leuthold Group, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Minneapolis, MN
- Filing period: October 2026
- Form ADV filing dated: July 6, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/105826
- AdvisorCensus page: https://advisorcensus.com/firm/leuthold-weeden-capital-management-minneapolis-mn-105826

## Quick answers

**How is Leuthold Weeden Capital Management compensated?**
On its Form ADV (Item 5.E, October 2026), Leuthold Weeden Capital Management reports these compensation arrangements: a percentage of assets under its management; subscription fees (for a newsletter or periodical); fixed fees (other than subscription fees). The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Leuthold Weeden Capital Management located?**
Leuthold Weeden Capital Management's principal office is in Minneapolis, MN, according to its Form ADV.

**Is Leuthold Weeden Capital Management registered with the SEC or a state?**
Leuthold Weeden Capital Management is an SEC-registered investment advisory firm, registered since 1987. Status as filed: Approved. CRD 105826.

**How much does Leuthold Weeden Capital Management manage?**
Leuthold Weeden Capital Management reports $1,168,984,227 in regulatory assets under management in its Form ADV filing dated July 6, 2026 (96% discretionary).

**How have Leuthold Weeden Capital Management's assets and staff changed since 2021?**
In the Form ADV data for Leuthold Weeden Capital Management: Regulatory assets under management: $994,885,790 in the October 2021 data and $1,168,984,227 in the October 2026 data, up 17%. Total employees: 22 in October 2021 and 17 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Leuthold Weeden Capital Management serve?**
By number of clients on Form ADV Item 5.D: other (99); high net worth individuals (60); corporations or other businesses not listed above (34).

**Which custodians does Leuthold Weeden Capital Management use?**
Leuthold Weeden Capital Management's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., Fidelity Distributors Company LLC and Pershing LLC as custodians holding 10% or more of its separately managed account assets.

**Does Leuthold Weeden Capital Management report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/105826

**What changed in Leuthold Weeden Capital Management's recent Form ADV filings?**
In the August 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Subscription fees (for a newsletter or periodical)
- Fixed fees (other than subscription fees)

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Fidelity Distributors Company LLC
- Pershing LLC

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $1,168,984,227
- Discretionary: $1,121,238,494
- Non-discretionary: $47,745,733

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 60 | $40,770,033 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 5 | $727,846,072 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 1 | $41,576,724 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 1 | $12,318,024 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 34 | $298,727,641 |
| Other | 99 | $47,745,733 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Publication of periodicals or newsletters

### Firm details
- Registered since: 1987 (38 years)
- Employees: 17 total, 7 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, FL, LA, MN, MO, NV, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [advisors.leutholdgroup.com](https://advisors.leutholdgroup.com)
- [funds.leutholdgroup.com](https://funds.leutholdgroup.com)
- [leutholdgroup.com](https://leutholdgroup.com)
- [research.leutholdgroup.com](https://research.leutholdgroup.com)
- X @LEUTHOLDFUNDS
- X @LEUTHOLDGROUP

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $994,885,790 | 22 | April 5, 2021 |
| October 2022 | $1,103,017,960 | 21 | May 20, 2022 |
| October 2023 | $1,122,717,610 | 19 | March 30, 2023 |
| October 2024 | $1,109,896,976 | 17 | July 19, 2024 |
| October 2025 | $1,082,356,990 | 17 | May 6, 2025 |
| October 2026 | $1,168,984,227 | 17 | July 6, 2026 |

Regulatory assets under management: $994,885,790 in the October 2021 data and $1,168,984,227 in the October 2026 data, up 17%.
Total employees: 22 in October 2021 and 17 in October 2026.

## Changes in the filing (last 12 months)

### August 2026
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Employees performing advisory functions went from 8 to 7.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Leuthold Weeden Capital Management (CRD 105826): Form ADV filing data as of October 2026.