Ronald Muhlenkamp – Muhlenkamp & Co Portfolio Activity & Recent Trades (Sep 30, 2025)
As of Sep 30, 2025, the Muhlenkamp & Co portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Nov 07, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.
During Q3 2025, the filing reported:
New Buys – Equinox Gold Corp., First, GE Vernova Inc., Chart Industries, Inc., ICON, and 2 more
Increases – Apple Inc., Agnico Eagle Mines Limited, Alerian MLP ETF, BGC Group, Inc., Berkshire Hathaway Inc. New, and 11 more
Reductions – EQT Corporation, SPDR Gold Trust, JD.com, Inc., MasTec, Inc., The Travelers Companies, Inc., and 1 more
Complete Exits – Dow Inc., Transocean
These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.
| Date | Symbol | Name | Type | Change Qty | % Change | Value | Remaining |
|---|---|---|---|---|---|---|---|
Q3 2025 | AAPL Apple Inc. | Apple Inc. | Buy | +57 | +0.1% | $15.96M | 62,673 |
Q3 2025 | AEM Agnico Eagle Mines Limited | Agnico Eagle Mines Limited | Buy | +24 | +0.0% | $25.50M | 151,311 |
Q3 2025 | AMLP Alerian MLP ETF | Alerian MLP ETF | Buy | +9 | +0.0% | $8.29M | 176,721 |
Q3 2025 | BGC BGC Group, Inc. | BGC Group, Inc. | Buy | +1,901 | +0.1% | $16.57M | 1,751,739 |
Q3 2025 | BRK-B Berkshire Hathaway Inc. New | Berkshire Hathaway Inc. New | Buy | +29 | +0.1% | $19.30M | 38,380 |
Q3 2025 | CE Celanese Corporation | Celanese Corporation | Buy | +33,247 | +22.0% | $7.76M | 184,455 |
Q3 2025 | DOW Dow Inc. | Dow Inc. | Sell - Position Exit | -229,069 | -100.0% | $0.00 | - |
Q3 2025 | EQT EQT Corporation | EQT Corporation | Sell | -52 | -0.0% | $24.55M | 450,963 |
Q3 2025 | EQX Equinox Gold Corp. | Equinox Gold Corp. | Buy - Position Entry | +514,257 | - | $5.77M | 514,257 |
Q3 2025 | FCF First | First | Buy - Position Entry | +10,154 | - | $173.13K | 10,154 |
Q3 2025 | GEV GE Vernova Inc. | GE Vernova Inc. | Buy - Position Entry | +1,426 | - | $876.85K | 1,426 |
Q3 2025 | GLD SPDR Gold Trust | SPDR Gold Trust | Sell | -64 | -0.3% | $7.91M | 22,242 |
Q3 2025 | GTLS Chart Industries, Inc. | Chart Industries, Inc. | Buy - Position Entry | +7,924 | - | $1.59M | 7,924 |
Q3 2025 | H8817H100 Transocean | Transocean | Sell - Position Exit | -1,058,760 | -100.0% | $0.00 | - |
Q3 2025 | ICLR ICON | ICON | Buy - Position Entry | +73,467 | - | $12.86M | 73,467 |
Q3 2025 | JD JD.com, Inc. | JD.com, Inc. | Sell | -22,484 | -11.0% | $6.35M | 181,412 |
Q3 2025 | LYB LyondellBasell | LyondellBasell | Buy - Position Entry | +184,075 | - | $9.03M | 184,075 |
Q3 2025 | MCHP Microchip Technology Incorporat | Microchip Technology Incorporat | Buy | +262 | +0.1% | $12.96M | 201,753 |
Q3 2025 | MCK McKesson Corporation | McKesson Corporation | Buy | +24 | +0.1% | $20.94M | 27,108 |
Q3 2025 | MSFT Microsoft Corporation | Microsoft Corporation | Buy | +36 | +0.1% | $16.75M | 32,347 |
Q3 2025 | MTZ MasTec, Inc. | MasTec, Inc. | Sell | -298 | -0.3% | $22.51M | 105,786 |
Q3 2025 | NEM Newmont Corporation | Newmont Corporation | Buy | +83 | +0.0% | $23.94M | 283,943 |
Q3 2025 | NMIH NMI Holdings Inc | NMI Holdings Inc | Buy | +493 | +0.1% | $17.88M | 466,347 |
Q3 2025 | RCL Royal Caribbean | Royal Caribbean | Buy - Position Entry | +2,671 | - | $864.28K | 2,671 |
Q3 2025 | RGLD Royal Gold, Inc. | Royal Gold, Inc. | Buy | +59 | +0.1% | $17.57M | 87,585 |
Q3 2025 | RUSHA Rush Enterprises, Inc. | Rush Enterprises, Inc. | Buy | +268 | +0.1% | $20.00M | 374,051 |
Q3 2025 | SLB Schlumberger N.V. | Schlumberger N.V. | Buy | +572 | +0.2% | $10.99M | 319,738 |
Q3 2025 | TMHC Taylor Morrison Home Corporatio | Taylor Morrison Home Corporatio | Buy | +316 | +0.2% | $10.39M | 157,398 |
Q3 2025 | TRV The Travelers Companies, Inc. | The Travelers Companies, Inc. | Sell | -21 | -0.3% | $1.85M | 6,627 |
Q3 2025 | URI United Rentals, Inc. | United Rentals, Inc. | Sell | -4 | -0.0% | $14.82M | 15,523 |