Ronald Muhlenkamp - Muhlenkamp & Co 13F Activity & Position Changes (Q1 2018)

According to the SEC 13F filed on Aug 18, 2026, the Muhlenkamp & Co portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2018. 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 Q1 2018, the filing reported:

New Buys - None reported

Increases - AutoZone, Inc., Bread Financial Holdings, Inc., Biogen Inc., Bristol-Myers Squibb Company, Cameco Corporation, and 10 more

Reductions - Apple Inc., Celanese Corporation, Delta Air Lines, Inc., Federated Hermes, Inc., Microsoft Corporation, and 3 more

Complete Exits - AllianceBernstein Holding L.P., Ameriprise Financial, Inc., American Axle & Manufacturing H, Coterra Energy Inc., Enterprise Products Partners L., and 8 more

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
Q1 2018	AAPL Apple Inc.	Apple Inc.	Sell	-54,998	-37.7%	$15.24K	90,824
Q1 2018	AB AllianceBernstein Holding L.P.	AllianceBernstein Holding L.P.	Sell - Position Exit	-11,150	-100.0%	$0.00	-
Q1 2018	AMP Ameriprise Financial, Inc.	Ameriprise Financial, Inc.	Sell - Position Exit	-1,500	-100.0%	$0.00	-
Q1 2018	AXL American Axle & Manufacturing H	American Axle & Manufacturing H	Sell - Position Exit	-15,400	-100.0%	$0.00	-
Q1 2018	AZO AutoZone, Inc.	AutoZone, Inc.	Buy	+4,061	+59.9%	$7.03K	10,835
Q1 2018	BFH Bread Financial Holdings, Inc.	Bread Financial Holdings, Inc.	Buy	+564	+0.8%	$15.01K	70,529
Q1 2018	BIIB Biogen Inc.	Biogen Inc.	Buy	+489	+2.0%	$6.89K	25,171
Q1 2018	BMY Bristol-Myers Squibb Company	Bristol-Myers Squibb Company	Buy	+3,861	+2.2%	$11.29K	178,436
Q1 2018	CCJ Cameco Corporation	Cameco Corporation	Buy	+16,920	+2.0%	$7.88K	867,482
Q1 2018	CE Celanese Corporation	Celanese Corporation	Sell	-8,603	-7.8%	$10.15K	101,277
Q1 2018	CTRA Coterra Energy Inc.	Coterra Energy Inc.	Sell - Position Exit	-15,000	-100.0%	$0.00	-
Q1 2018	CTSH Cognizant Technology Solutions	Cognizant Technology Solutions	Buy	+3,259	+3.6%	$7.61K	94,534
Q1 2018	DAL Delta Air Lines, Inc.	Delta Air Lines, Inc.	Sell	-12,387	-9.7%	$6.32K	115,363
Q1 2018	EPD Enterprise Products Partners L.	Enterprise Products Partners L.	Sell - Position Exit	-16,700	-100.0%	$0.00	-
Q1 2018	FHI Federated Hermes, Inc.	Federated Hermes, Inc.	Sell	-35,616	-12.3%	$8.48K	253,785
Q1 2018	G9456A100 Golar LNG	Golar LNG	Sell - Position Exit	-15,900	-100.0%	$0.00	-
Q1 2018	GILD Gilead Sciences, Inc.	Gilead Sciences, Inc.	Buy	+1,764	+0.8%	$16.77K	222,377
Q1 2018	GLD SPDR Gold Trust	SPDR Gold Trust	Buy	+1,636	+2.0%	$10.61K	84,371
Q1 2018	GME GameStop Corporation	GameStop Corporation	Buy	+7,945	+3.1%	$3.29K	260,753
Q1 2018	HBI Hanesbrands Inc.	Hanesbrands Inc.	Sell - Position Exit	-475,778	-100.0%	$0.00	-
Q1 2018	MCHP Microchip Technology Incorporat	Microchip Technology Incorporat	Buy	+1,820	+1.9%	$9.04K	98,968
Q1 2018	MCK McKesson Corporation	McKesson Corporation	Buy	+1,143	+1.6%	$10.01K	71,090
Q1 2018	MGNX MacroGenics, Inc.	MacroGenics, Inc.	Sell - Position Exit	-10,515	-100.0%	$0.00	-
Q1 2018	MS Morgan Stanley	Morgan Stanley	Sell - Position Exit	-5,805	-100.0%	$0.00	-
Q1 2018	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-66,041	-28.9%	$14.86K	162,821
Q1 2018	OLED Universal Display Corporation	Universal Display Corporation	Sell - Position Exit	-42,240	-100.0%	$0.00	-
Q1 2018	ON ON Semiconductor Corporation	ON Semiconductor Corporation	Sell	-303,827	-30.0%	$17.35K	709,466
Q1 2018	PFE Pfizer, Inc.	Pfizer, Inc.	Sell	-255	-0.9%	$967.00	27,239
Q1 2018	PHM PulteGroup, Inc.	PulteGroup, Inc.	Buy	+5,541	+2.8%	$6.07K	205,951
Q1 2018	RUSHB Rush Enterprises, Inc.	Rush Enterprises, Inc.	Sell	-6,000	-51.4%	$229.00	5,666

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