Ronald Muhlenkamp - Muhlenkamp & Co 13F Activity & Position Changes (Q1 2026)

According to the SEC 13F filed on May 06, 2026, the Muhlenkamp & Co portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2026. 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 2026, the filing reported:

New Buys - Freedom 100 Emerging Markets ET, Exxon Mobil Corporation

Increases - Celanese Corporation, Equinox Gold Corp., LyondellBasell, Schlumberger N.V., Taylor Morrison Home Corporatio

Reductions - Apple Inc., Agnico Eagle Mines Limited, Alerian MLP ETF, BGC Group, Inc., Berkshire Hathaway Inc. New, and 13 more

Complete Exits - Chart Industries, Inc.

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 2026	AAPL Apple Inc.	Apple Inc.	Sell	-282	-0.4%	$15.88M	62,559
Q1 2026	AEM Agnico Eagle Mines Limited	Agnico Eagle Mines Limited	Sell	-12,681	-8.4%	$28.13M	138,588
Q1 2026	AMLP Alerian MLP ETF	Alerian MLP ETF	Sell	-25,686	-14.6%	$7.93M	150,615
Q1 2026	BGC BGC Group, Inc.	BGC Group, Inc.	Sell	-315,339	-17.9%	$14.12M	1,443,941
Q1 2026	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Sell	-60	-0.2%	$18.38M	38,351
Q1 2026	CE Celanese Corporation	Celanese Corporation	Buy	+1,397	+0.7%	$13.86M	210,800
Q1 2026	EQT EQT Corporation	EQT Corporation	Sell	-49,885	-11.1%	$25.54M	401,242
Q1 2026	EQX Equinox Gold Corp.	Equinox Gold Corp.	Buy	+1,197	+0.2%	$7.51M	519,219
Q1 2026	FRDM Freedom 100 Emerging Markets ET	Freedom 100 Emerging Markets ET	Buy - Position Entry	+236,825	-	$12.94M	236,825
Q1 2026	GLD SPDR Gold Trust	SPDR Gold Trust	Sell	-218	-1.0%	$9.50M	22,083
Q1 2026	GTLS Chart Industries, Inc.	Chart Industries, Inc.	Sell - Position Exit	-7,924	-100.0%	$0.00	-
Q1 2026	ICLR ICON	ICON	Sell	-7,860	-10.6%	$7.30M	66,005
Q1 2026	LYB LyondellBasell	LyondellBasell	Buy	+1,338	+0.7%	$15.08M	187,159
Q1 2026	MCK McKesson Corporation	McKesson Corporation	Sell	-24	-0.1%	$23.51M	27,169
Q1 2026	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-68	-0.2%	$12.19M	32,937
Q1 2026	MTZ MasTec, Inc.	MasTec, Inc.	Sell	-62,928	-59.5%	$13.78M	42,832
Q1 2026	NEM Newmont Corporation	Newmont Corporation	Sell	-53,299	-18.7%	$25.03M	231,182
Q1 2026	NMIH NMI Holdings Inc	NMI Holdings Inc	Sell	-101,570	-21.7%	$13.74M	366,219
Q1 2026	RGLD Royal Gold, Inc.	Royal Gold, Inc.	Sell	-36	-0.0%	$22.37M	87,892
Q1 2026	RUSHA Rush Enterprises, Inc.	Rush Enterprises, Inc.	Sell	-43,614	-11.6%	$21.94M	331,905
Q1 2026	RUSHB Rush Enterprises, Inc.	Rush Enterprises, Inc.	Sell	-47	-0.5%	$608.37K	9,454
Q1 2026	SLB Schlumberger N.V.	Schlumberger N.V.	Buy	+140	+0.0%	$16.56M	322,171
Q1 2026	TMHC Taylor Morrison Home Corporatio	Taylor Morrison Home Corporatio	Buy	+58	+0.0%	$9.24M	158,606
Q1 2026	URI United Rentals, Inc.	United Rentals, Inc.	Sell	-3	-0.0%	$11.37M	15,603
Q1 2026	WAB Westinghouse Air Brake Technolo	Westinghouse Air Brake Technolo	Sell	-146	-0.2%	$15.78M	63,155
Q1 2026	XOM Exxon Mobil Corporation	Exxon Mobil Corporation	Buy - Position Entry	+1,640	-	$278.24K	1,640