May 3, 1996
VIA EDGAR SYSTEM
Securities and Exchange Commission
450 Fifth Street, N.W.
Judiciary Plaza
Washington, DC 20549
Re: Leuthold Funds, Inc.
File Nos. 33-96634 and 811-09094
Rule 497(j) Certification
Ladies & Gentlemen:
The undersigned officer of Leuthold Funds, Inc. (the "Company")
does hereby certify pursuant to Rule 497(j) promulgated under the
Securities Act of 1933, as amended:
1. that the form of prospectus and statement of additional
information that would have been filed under paragraph (c) of Rule 497
promulgated under the Securities Act of 1933, as amended, would not have
differed from that contained in Post-Effective Amendment No. 1 to Form N-
1A Registration Statement filed by the Company on April 30, 1996, which is
the most recent amendment to such registration statement; and
2. that the text of Post-Effective Amendment No. 1 was filed
with the Securities and Exchange Commission by direct transmittal through
the EDGAR system on April 30, 1996.
Very truly yours,
LEUTHOLD FUNDS, INC.
By: /s/ Elizabeth Page
Elizabeth Page, Vice President
and Assistant Secretary
