Leuthold Portfolios - September 2026

September brought narrowing market breadth, rising interest rates, and sharp performance dispersion as a handful of AI-related mega caps dominated market leadership. While Core and Select Industries declined, both held up relatively well against broader market weakness. Meanwhile, Grizzly capitalized on the selloff, gaining 7.93% for the month. Read our September portfolio update for insights into performance, positioning, and the market forces driving results.