Muhlenkamp portfolio
Concentrated managerInvestment firmPortfolio as of Jun 30, 2026 (Q2 2026) · filed with the SEC on Aug 18, 2026 · data updated on Nov 5, 2026 · Q2 2026 13F (filing) ↗ · all its 13F filings ↗
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Muhlenkamp reported a $345M portfolio of 27 companies (28 positions, counting each share class separately) to the SEC as of the end of Q2 2026. Its largest positions are RUSHA, NEM, AEM. During the quarter it exited MasTec and EA Series Trust.
Sections with a free account
What changed this quarter
3 positions with a change (1 new, 2 sold). 2 are listed here: those of 0.5 points of the portfolio or more (up to 12).
- MasTec−3.6 ppof portfolioSold out3.6% → —
- EA Series Trust−3.4 ppof portfolioSold out3.4% → —
The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight: what it bought or sold, excluding price effects.
Top holdings
- Rush EnterprisesRUSHA · RUSHB7.2%
- NewmontNEM6.3%
- Agnico Eagle MinesAEM6.2%
- EQTEQT6.2%
- McKESSONMCK6.0%
- Berkshire HathawayBRK/B5.6%
- Microchip TechnologyMCHP5.4%
- AppleAAPL5.2%
- United RentalsURI5.1%
- Royal GoldRGLD5.1%
- WabtecWAB4.9%
- BGC GroupBGC4.5%
- NMI HoldingsNMIH4.4%
- SLBSLB4.4%
- MicrosoftMSFT3.5%
“Since”: first quarter of the current run, unbroken until today. In the details, prices are the quarter-end prices of the quarters in which it added shares, per the 13F. The manager may have bought at any price within each quarter; the SEC only publishes the value at quarter end.
Portfolio by sector
- ● Materials 25%
- ● Financials 15%
- ● Information Technology 14%
- ● Energy 11%
- ● Industrials 11%
- ● Consumer Discretionary 11%
- ● Health Care 9%
- ● No sector 5%
How its portfolio changed (8 quarters)
Q2 2026: 28
Q2 2026: 58%
Q2 2026: 3.6%
Traded turnover: the weight it bought plus the weight it sold in the quarter, divided by two, excluding price moves. The plain “turnover” in the header does include that effect. With a free account: the full history and sectors over time.
Stakes above 5% (13D/13G)
Companies where this filer reported holding 5% or more of the shares. It is the figure from its latest filing on each one; history since December 2024.
How we classify it
Investment firm, per its Form ADV of Dec 19, 2025 (high confidence).
The data, as reported: MUHLENKAMP & CO INC (CRD 110787): Manages registered funds; 5.D assets by client type: registered funds 58%, high net worth 35% (of $436M)
The type comes from a rule applied to that data. If it looks wrong, tell us.
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