Ronald Muhlenkamp - Muhlenkamp & Co 13F Activity & Position Changes (Q2 2015)

According to the SEC 13F filed on Aug 18, 2026, the Muhlenkamp & Co portfolio showed several notable changes in holdings as of quarter-end Jun 30, 2015. 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 Q2 2015, the filing reported:

New Buys - Cisco Systems, Inc., WisdomTree Europe Hedged Equity

Increases - Apple Inc., Asbury Automotive Group Inc, Allegiant Travel Company, American Axle & Manufacturing H, Bread Financial Holdings, Inc., and 12 more

Reductions - Bristol-Myers Squibb Company, Delta Air Lines, Inc., Gilead Sciences, Inc., General Motors Company, Halliburton Company, and 7 more

Complete Exits - American Airlines Group, Inc., Berkshire Hathaway Inc. New, Sonic Automotive, 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
Q2 2015	AAL American Airlines Group, Inc.	American Airlines Group, Inc.	Sell - Position Exit	-123,090	-100.0%	$0.00	-
Q2 2015	AAPL Apple Inc.	Apple Inc.	Buy	+50	+0.0%	$18.95K	151,058
Q2 2015	ABG Asbury Automotive Group Inc	Asbury Automotive Group Inc	Buy	+135	+0.2%	$7.76K	85,595
Q2 2015	ALGT Allegiant Travel Company	Allegiant Travel Company	Buy	+100	+0.1%	$14.21K	79,871
Q2 2015	AXL American Axle & Manufacturing H	American Axle & Manufacturing H	Buy	+80	+0.0%	$17.07K	816,570
Q2 2015	BFH Bread Financial Holdings, Inc.	Bread Financial Holdings, Inc.	Buy	+15	+0.0%	$35.39K	121,215
Q2 2015	BMY Bristol-Myers Squibb Company	Bristol-Myers Squibb Company	Sell	-550	-0.3%	$14.08K	211,620
Q2 2015	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Sell - Position Exit	-112,530	-100.0%	$0.00	-
Q2 2015	CE Celanese Corporation	Celanese Corporation	Buy	+175	+0.1%	$19.30K	268,460
Q2 2015	CSCO Cisco Systems, Inc.	Cisco Systems, Inc.	Buy - Position Entry	+1,290	-	$35.00	1,290
Q2 2015	DAL Delta Air Lines, Inc.	Delta Air Lines, Inc.	Sell	-55	-0.0%	$10.90K	265,400
Q2 2015	DFS Discover Financial Services	Discover Financial Services	Buy	+255	+0.1%	$12.24K	212,400
Q2 2015	DSL DoubleLine Income Solutions Fun	DoubleLine Income Solutions Fun	Buy	+17,370	+106.2%	$667.00	33,720
Q2 2015	GILD Gilead Sciences, Inc.	Gilead Sciences, Inc.	Sell	-120	-0.1%	$25.60K	218,620
Q2 2015	GM General Motors Company	General Motors Company	Sell	-35	-0.1%	$2.32K	69,500
Q2 2015	HAL Halliburton Company	Halliburton Company	Sell	-2,080	-1.9%	$4.75K	110,250
Q2 2015	HBI Hanesbrands Inc.	Hanesbrands Inc.	Sell	-120	-0.0%	$17.00K	510,225
Q2 2015	HEDJ WisdomTree Europe Hedged Equity	WisdomTree Europe Hedged Equity	Buy - Position Entry	+229,245	-	$14.12K	229,245
Q2 2015	ISSC Innovative Solutions and Suppor	Innovative Solutions and Suppor	Sell	-32,800	-9.1%	$1.08K	328,729
Q2 2015	JPM JP Morgan Chase & Co.	JP Morgan Chase & Co.	Buy	+45	+0.0%	$24.16K	356,605
Q2 2015	LNC Lincoln National Corporation	Lincoln National Corporation	Sell	-99,805	-32.4%	$12.35K	208,505
Q2 2015	MDT Medtronic	Medtronic	Buy	+97	+0.1%	$12.88K	173,750
Q2 2015	MGNX MacroGenics, Inc.	MacroGenics, Inc.	Buy	+95	+0.1%	$2.52K	66,500
Q2 2015	MS Morgan Stanley	Morgan Stanley	Buy	+310	+0.1%	$12.43K	320,400
Q2 2015	MSFT Microsoft Corporation	Microsoft Corporation	Buy	+170	+0.1%	$12.83K	290,555
Q2 2015	OLED Universal Display Corporation	Universal Display Corporation	Sell	-26,220	-12.4%	$9.62K	185,915
Q2 2015	ON ON Semiconductor Corporation	ON Semiconductor Corporation	Buy	+1,030	+0.1%	$14.83K	1,268,385
Q2 2015	PAAS Pan American Silver Corp.	Pan American Silver Corp.	Sell	-10,350	-50.0%	$89.00	10,360
Q2 2015	PHM PulteGroup, Inc.	PulteGroup, Inc.	Sell	-3,000	-11.0%	$488.00	24,200
Q2 2015	RUSHB Rush Enterprises, Inc.	Rush Enterprises, Inc.	Buy	+1,235	+1.3%	$2.28K	94,852

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