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Muhlenkamp & Co Portfolio holdings

AUM $345M Turnover 10%
1-Year Est. Return 34.25%
This Fund
S&P 500
This Quarter Est. Return
+2.61%
1 Year Est. Return
+34.25%
3 Year Est. Return
+107.36%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$345M
AUM Growth
-$34.5M
Cap. Flow
-$25.4M
Cap. Flow %
-7.35%
Top 10 Hldgs %
58.04%
Holding
30
New
1
Increased
16
Reduced
6
Closed
2
Avg Time Held
5.1 years
Top 10 Avg Time Held
2.6 years
Top 20 Avg Time Held
3.8 years

Top Buys

Rank Stock Value
1
SLV icon
iShares Silver Trust
SLV
+$832K
2
SLB icon
SLB Ltd
SLB
+$91.5K
3
NMIH icon
NMI Holdings
NMIH
+$89.4K
4
CE icon
Celanese
CE
+$69.3K
5
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$69.2K

Top Sells

Rank Stock Value
1
MTZ icon
MasTec
MTZ
+$13.8M
2
FRDM icon
Freedom 100 Emerging Markets ETF
FRDM
+$12.9M
3
AAPL icon
Apple
AAPL
+$124K
4
MSFT icon
Microsoft
MSFT
+$65.1K
5
AEM icon
Agnico Eagle Mines
AEM
+$12.4K

Sector Composition

Rank Sector Weight
1 Materials 24.73%
2 Financials 15.08%
3 Technology 14.11%
4 Energy 10.89%
5 Industrials 10.56%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
RUSHA icon
1
Rush Enterprises Class A
RUSHA
$5.26B
$24.3M 7.03%
498,498
+640
+0.1% +$30.1K
2013 Q2
52 quarters
NEM icon
2
Newmont
NEM
$125B
$21.6M 6.25%
231,090
-92
-0% -$10K
2023 Q4
10 quarters
AEM icon
3
Agnico Eagle Mines
AEM
$94.9B
$21.5M 6.22%
138,521
-67
-0% -$12.4K
2024 Q4
6 quarters
EQT icon
4
EQT Corp
EQT
$34.2B
$21.4M 6.19%
402,243
+1,001
+0.2% +$56.2K
2021 Q4
18 quarters
MCK icon
5
McKesson
MCK
$117B
$20.6M 5.95%
27,202
+33
+0.1% +$26.2K
2016 Q2
40 quarters
BRK.B icon
6
Berkshire Hathaway Class B
BRK.B
$1.14T
$19.3M 5.58%
38,495
+144
+0.4% +$69.2K
2019 Q3
27 quarters
MCHP icon
7
Microchip Technology
MCHP
$40.3B
$18.5M 5.37%
203,139
+154
+0.1% +$13.7K
2017 Q1
37 quarters
AAPL icon
8
Apple
AAPL
$4.99T
$18M 5.21%
62,125
-434
-0.7% -$124K
2013 Q2
52 quarters
URI icon
9
United Rentals
URI
$63.8B
$17.8M 5.14%
15,673
+70
+0.4% +$66.6K
2023 Q3
11 quarters
RGLD icon
10
Royal Gold
RGLD
$20.1B
$17.6M 5.09%
88,088
+196
+0.2% +$45.6K
2020 Q4
22 quarters
WAB icon
11
Wabtec
WAB
$48.7B
$17M 4.93%
63,156
+1
+0% +$264
2019 Q1
29 quarters
BGC icon
12
BGC Group
BGC
$5.29B
$15.5M 4.48%
1,447,070
+3,129
+0.2% +$35K
2023 Q2
12 quarters
NMIH icon
13
NMI Holdings
NMIH
$3.07B
$15.1M 4.39%
368,558
+2,339
+0.6% +$89.4K
2020 Q2
24 quarters
SLB icon
14
SLB Ltd
SLB
$72.7B
$15.1M 4.36%
323,878
+1,707
+0.5% +$91.5K
2020 Q4
22 quarters
MSFT icon
15
Microsoft
MSFT
$3.96T
$12.2M 3.54%
32,776
-161
-0.5% -$65.1K
2013 Q2
52 quarters
ICLR icon
16
Icon
ICLR
$13B
$11.5M 3.34%
66,337
+332
+0.5% +$42.3K
2025 Q3
3 quarters
TMHC icon
17
DELISTED
Taylor Morrison
TMHC
$11.4M 3.3%
158,625
+19
+0% +$1.21K
2023 Q2
12 quarters
LYB icon
18
LyondellBasell Industries
LYB
$20.5B
$9.9M 2.87%
187,920
+761
+0.4% +$52.5K
2025 Q3
3 quarters
CE icon
19
Celanese
CE
$5.24B
$9.8M 2.82%
211,997
+1,197
+0.6% +$69.3K
2025 Q2
4 quarters
GLD icon
20
SPDR Gold Trust
GLD
$140B
$8.13M 2.35%
22,068
-15
-0.1% -$6.21K
2016 Q2
40 quarters
AMLP icon
21
Alerian MLP ETF
AMLP
$12.6B
$7.81M 2.26%
150,615
– –
2018 Q1
33 quarters
EQX icon
22
Equinox Gold
EQX
$12.9B
$5.08M 1.47%
522,251
+3,032
+0.6% +$39.1K
2025 Q3
3 quarters
TRV icon
23
Travelers Companies
TRV
$80.5B
$2.19M 0.63%
6,627
– –
2025 Q1
5 quarters
GEV icon
24
GE Vernova
GEV
$244B
$1.68M 0.49%
1,426
– –
2025 Q3
3 quarters
EPD icon
25
Enterprise Products Partners
EPD
$79.5B
$914K 0.26%
24,855
– –
2019 Q1
29 quarters
1
2

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LCM
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WFI
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Muhlenkamp & Co's Q2 2026 Portfolio in Review

As of Q2 2026, Muhlenkamp & Co held 30 positions worth $345M, down 9.1% from $380M the previous quarter. Its ten largest holdings account for 58% of the portfolio.

Muhlenkamp & Co withdrew a net $25.4M in Q2 2026, closing 2 positions and reducing 6 holdings. Its most notable exit was MasTec, an estimated $13.8M position sold in full.

By sector, the portfolio is most concentrated in Materials at 25% of assets, down from 29% a quarter earlier, followed by Financials and Technology.

Against the trend, Muhlenkamp & Co opened a new position in iShares Silver Trust worth $671K.

  • Muhlenkamp & Co's largest Q2 2026 buy was iShares Silver Trust: 12,550 shares worth $671K.
  • Muhlenkamp & Co added most to SLB Ltd in Q2 2026, an estimated $91.5K increase.
  • Muhlenkamp & Co's biggest Q2 2026 reduction was Apple, cutting an estimated $124K.
  • Muhlenkamp & Co fully exited MasTec in Q2 2026, selling an estimated $13.8M.
  • Muhlenkamp & Co's ten largest holdings make up 58% of its $345M portfolio in Q2 2026.
  • Muhlenkamp & Co opened 1 new position and closed 2 in Q2 2026.
  • Muhlenkamp & Co's portfolio value fell 9.1% quarter-over-quarter to $345M.

Based on Muhlenkamp & Co's 13F filing for Q2 2026, filed 18 Aug 2026.