DFX Intelligence

RIA Intelligence

Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.

SEC-registered adviser

Leuthold Weeden Capital Management

Asset manager (funds and pooled vehicles)Minneapolis, MinnesotaCRD 105826SEC 801-30686websiteIAPD
Legal name The Leuthold Group, LLC
Latest filing Jul 6, 2026
First filing on the tape Jan 31, 2012 · 53 filings
SEC status approved since Oct 16, 1987
RAUM
$1.2B
reported, Item 5.F
Discretionary
96%
of RAUM
Private clients
3.5%
$40.8M individuals and HNW
Advisors
6
registered through the firm on IAPD
RAUM per advisor
$195M
derived; firm RAUM over IAPD count
Employees
17
7 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
1
reported on Schedule D
History
53 filings and snapshots on the tape
RAUM$1.2B as of Jul 6, 2026
Jan 31, 2012$3.2B then
HNW client RAUM$40.8M as of Jul 6, 2026
Mar 27, 2018$175M then
State-registered IARs (5.B.3)7 as of Jul 6, 2026
Mar 4, 20130 then
Employees (5.A)17 as of Jul 6, 2026
Mar 4, 201331 then
Private funds1 as of Jul 6, 2026
Jan 31, 20121 then
RAUM +8.0% over the last fiscal year+1.4% a year over threeIARs 8 to 7
Practice profile
derived from the filing of Jul 6, 2026; every figure names its basis
RAUM per advisor
$195MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
10derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$679,501derivedHNW RAUM over HNW clients
Average account
$5.8MderivedRAUM over accounts (5.F.2.f)
Discretionary
96%derivedof RAUM
Institutional
1.1%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
2.8derivedItem 5.A over advisors
Advisors per office
6.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year
+8.0%derivedbetween the last two annual amendments
Advisor growth, one year
-13%derivedItem 5.B.3 between annual amendments
Client growth, one year
+18%derived
Compensation
percentage of assets, fixed fees, subscriptionreportedItem 5.E
Advisory activities
portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for pooled vehicles, portfolio management for investment companies, publicationsreportedItem 5.G
Custody
$41.6M, 1 clientsreportedItem 9.A
Ownership
no PE, bank or public-company owner found on Schedule Aderived
Advisor book size
not public; not estimatedreported
Also answered yes on Form ADV
  • buys or sells securities as principal to or from clients (8.A.2)
  • has discretionary authority over which securities are bought or sold (8.C.1)
  • receives research or other products from a broker-dealer, soft dollars (8.E)
  • compensates persons for client referrals (8.G.1)
  • compensates non-employees for client referrals (8.G.2)
  • has custody of client cash or bank accounts (9.A.1.a)
  • has custody of client securities (9.A.1.b)
  • an independent public accountant performs a surprise examination (9.C.1)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Investment companies$728M65%
  • Corporations and businesses$299M27%
  • Pooled investment vehicles$41.6M3.7%
  • High-net-worth individuals$40.8M3.6%
  • Pension and profit-sharing plans$12.3M1.1%
Individual clients
0reported
HNW clients
60reported
Pension plan clients
1reported
Charitable clients
0reported
Accounts
200reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
$41.6M for 1 clientsreported
Compensation
% of AUM, fixedreported
Class basis
private_client_share=0.03 fund_share=0.66 institutional_share=0.01 related_bd=false related_bank=false bd_reps=2.0derived
Advisors registered through the firm
6 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
Jeffrey Chet LeadholmMinneapolis, MnNov 4, 201328 y1
Paula Suzanne MiklMinneapolis, MnDec 3, 201334 y0
John Christopher MuellerMinneapolis, MnDec 3, 201325 y0
Scott D. OpsalChartered Financial AnalystMinneapolis, MnJan 1, 202610 y0
Philip Donald SegnerChartered Financial AnalystMinneapolis, MnJan 1, 202615 y0
Jeffrey Winston HugeMinneapolis, MnJan 1, 202635 y1
Advisor movement
0 left, 1 joined in 12 months
net +1 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
Left, latest
Joined, latest
Teams: two or more advisors moving together within fourteen days, from one state
    Private funds
    2 reported on Schedule D 7.B.(1)
    FundTypeGross assetsOwnersFirst reported
    Leuthold Private Strategy Common Fundno longer reportedOther Private Fund$45.0M3Jan 31, 2012
    Leuthold Global Industries, L.P.Hedge Fund$31.2M3Feb 10, 2012
    Owners and control persons
    Schedule A and B, latest filing
    • Scott William Bower · Membercontrol
      since 06/2024 · owns less than 5%
    • Joseph Darrin Homme · Chief Technology Officercontrol
      since 12/2006 · owns 5% to 10%
    • Roderick Glenn Larson · Chief Compliance Officercontrol
      since 01/2024 · owns less than 5%
    • Chet Jeffrey Leadholm · Co-Chief Executive Officer, Managercontrol
      since 07/2005 · owns 5% to 10%
    • Christopher John Mueller · Co-Chief Executive Officer, Managercontrol
      since 07/2005 · owns 10% to 25%
    • Raymond Douglas Ramsey · Chief Investment Officer And Portfolio Managercontrol
      since 10/2011 · owns 5% to 10%
    • Michael Greg Swenson · Member
      since 07/2006 · owns 5% to 10%
    • Nmn Chun Wang · Member
      since 06/2009 · owns 5% to 10%
    Entity owners
    • Town Lake Partners, LLC · Member
      direct · owns 10% to 25%
    Related persons
    Schedule D 7.A
    No related person reported.
    Advisers that list Leuthold Weeden Capital Management as a related person
    Office movement
    IAPD branch city; joins and departures in 12 months
    OfficeAdvisorsJoinedLeftTeams outForming
    Minneapolis, Mn · principal630
    Offices
    Schedule D 1.F, the 25 largest
    No branch office listed.
    What changed
    consecutive filings, newest first
    • Accounts · 232 to 200
      Nov 19, 2025 to Mar 31, 2026
    • Advisory employees · 8 to 7
      Nov 19, 2025 to Mar 31, 2026
    • Corporate clients · 36 to 34
      Nov 19, 2025 to Mar 31, 2026
    • HNW clients · 51 to 60
      Nov 19, 2025 to Mar 31, 2026
    • Assets in custody · $32.5M to $41.6M
      Nov 19, 2025 to Mar 31, 2026
    • State-registered IARs · 8 to 7
      Nov 19, 2025 to Mar 31, 2026
    • Discretionary RAUM · $1.0B to $1.1B
      Nov 19, 2025 to Mar 31, 2026
    • HNW RAUM · $36.2M to $40.8M
      Nov 19, 2025 to Mar 31, 2026
    • Non-discretionary RAUM · $47.9M to $47.7M
      Nov 19, 2025 to Mar 31, 2026
    • Pension RAUM · $10.8M to $12.3M
      Nov 19, 2025 to Mar 31, 2026
    • Pooled vehicle RAUM · $32.5M to $41.6M
      Nov 19, 2025 to Mar 31, 2026
    • RAUM · $1.1B to $1.2B
      Nov 19, 2025 to Mar 31, 2026
    • Financial planning clients · unset to
      Mar 27, 2025 to May 6, 2025
    • Accounts · 127 to 232
      Jul 19, 2024 to Mar 27, 2025
    • Corporate clients · 34 to 36
      Jul 19, 2024 to Mar 27, 2025
    • HNW clients · 52 to 51
      Jul 19, 2024 to Mar 27, 2025
    • Assets in custody · $31.2M to $32.5M
      Jul 19, 2024 to Mar 27, 2025
    • Discretionary RAUM · $1.1B to $1.0B
      Jul 19, 2024 to Mar 27, 2025
    • HNW RAUM · $34.6M to $36.2M
      Jul 19, 2024 to Mar 27, 2025
    • Non-discretionary RAUM · $37.7M to $47.9M
      Jul 19, 2024 to Mar 27, 2025
    • Pension RAUM · $13.7M to $10.8M
      Jul 19, 2024 to Mar 27, 2025
    • Pooled vehicle RAUM · $31.2M to $32.5M
      Jul 19, 2024 to Mar 27, 2025
    • RAUM · $1.1B to $1.1B
      Jul 19, 2024 to Mar 27, 2025
    • Accounts · 109 to 127
      Jan 9, 2024 to Mar 29, 2024
    • Corporate clients · 33 to 34
      Jan 9, 2024 to Mar 29, 2024
    • Assets in custody · $29.3M to $31.2M
      Jan 9, 2024 to Mar 29, 2024
    • Employees · 19 to 17
      Jan 9, 2024 to Mar 29, 2024
    • Discretionary RAUM · $1.1B to $1.1B
      Jan 9, 2024 to Mar 29, 2024
    • HNW RAUM · $30.9M to $34.6M
      Jan 9, 2024 to Mar 29, 2024
    • Non-discretionary RAUM · $30.6M to $37.7M
      Jan 9, 2024 to Mar 29, 2024
    • Pension RAUM · $26.5M to $13.7M
      Jan 9, 2024 to Mar 29, 2024
    • Pooled vehicle RAUM · $29.3M to $31.2M
      Jan 9, 2024 to Mar 29, 2024
    • RAUM · $1.1B to $1.1B
      Jan 9, 2024 to Mar 29, 2024
    • Related broker-dealer · true to false
      Jan 9, 2024 to Mar 29, 2024
    • Accounts · 113 to 109
      Jan 30, 2023 to Mar 30, 2023
    • Advisory employees · 9 to 8
      Jan 30, 2023 to Mar 30, 2023
    • Corporate clients · 34 to 33
      Jan 30, 2023 to Mar 30, 2023
    • HNW clients · 55 to 52
      Jan 30, 2023 to Mar 30, 2023
    • Assets in custody · $33.6M to $29.3M
      Jan 30, 2023 to Mar 30, 2023
    • Employees · 21 to 19
      Jan 30, 2023 to Mar 30, 2023
    Signals
    7 dated events
    • Scott William Bower (Member) appeared on Schedule A of Leuthold Weeden Capital Management
      Jul 19, 2024 · Control person joined · fact
    • Angelo Robert Cervoni (Manager) no longer on Schedule A of Leuthold Weeden Capital Management (listed 2024-05-10, absent 2024-07-19)
      Jul 19, 2024 · Control person left · inference
    • Allen Roger Peters (Chief Compliance Officer) no longer on Schedule A of Leuthold Weeden Capital Management (listed 2023-03-30, absent 2024-01-09)
      Jan 9, 2024 · Control person left · inference
    • Roderick Glenn Larson (Chief Compliance Officer) appeared on Schedule A of Leuthold Weeden Capital Management
      Jan 9, 2024 · Control person joined · fact
    • William James Paulsen (Chief Investment Strategist) no longer on Schedule A of Leuthold Weeden Capital Management (listed 2022-05-20, absent 2023-01-30)
      Jan 30, 2023 · Control person left · inference
    • Jo Holly Weiss (Chief Financial Officer) no longer on Schedule A of Leuthold Weeden Capital Management (listed 2022-03-31, absent 2022-05-19)
      May 19, 2022 · Control person left · inference
    • Jun Zhu left Leuthold Weeden Capital Management for Ameriprise Financial Services, Llc (registered 2022-11-22)
      Feb 21, 2022 · Advisor changed firm · fact
    Across DFX
    shared identifiers only, never a name match
    No identifier-backed link to the venture, private equity, family office or sponsor graphs.
    How to reach
    public business contact points only, each with its source
    Website
    LEUTHOLDGROUP.COMreportedpublic record, Form ADV, Sep 17, 2026
    Principal office phone
    612-332-9141reportedpublic record, Form ADV, Jul 6, 2026
    Provenance
    Form ADV
    SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
    Advisors
    IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
    Class
    Asset manager (funds and pooled vehicles)deriveda rule over Items 5.D and 7.A
    RAUM per advisor
    $195Mderivedfirm RAUM over the IAPD count; not a book size
    Loaded
    Sep 14, 2026