Ronald Muhlenkamp - Muhlenkamp & Co 13F Activity & Position Changes (Q2 2016)

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, 2016. 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 2016, the filing reported:

New Buys - Community Health Systems, Inc., SPDR Gold Trust, LyondellBasell, McKesson Corporation

Increases - Rush Enterprises, Inc.

Reductions - Apple Inc., Allegiant Travel Company, Bread Financial Holdings, Inc., Biogen Inc., Bristol-Myers Squibb Company, and 13 more

Complete Exits - Good Times Restaurants 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 2016	AAPL Apple Inc.	Apple Inc.	Sell	-574	-0.4%	$14.40K	150,630
Q2 2016	ALGT Allegiant Travel Company	Allegiant Travel Company	Sell	-18,475	-35.2%	$5.15K	34,001
Q2 2016	BFH Bread Financial Holdings, Inc.	Bread Financial Holdings, Inc.	Sell	-467	-0.4%	$23.68K	120,854
Q2 2016	BIIB Biogen Inc.	Biogen Inc.	Sell	-150	-0.6%	$5.73K	23,703
Q2 2016	BMY Bristol-Myers Squibb Company	Bristol-Myers Squibb Company	Sell	-30,860	-14.5%	$13.34K	181,340
Q2 2016	CE Celanese Corporation	Celanese Corporation	Sell	-700	-0.6%	$8.15K	124,570
Q2 2016	CYH Community Health Systems, Inc.	Community Health Systems, Inc.	Buy - Position Entry	+377,245	-	$4.55K	377,245
Q2 2016	DAL Delta Air Lines, Inc.	Delta Air Lines, Inc.	Sell	-545	-0.4%	$4.87K	133,705
Q2 2016	GILD Gilead Sciences, Inc.	Gilead Sciences, Inc.	Sell	-990	-0.5%	$18.10K	217,000
Q2 2016	GLD SPDR Gold Trust	SPDR Gold Trust	Buy - Position Entry	+87,320	-	$11.04K	87,320
Q2 2016	GTIM Good Times Restaurants Inc.	Good Times Restaurants Inc.	Sell - Position Exit	-10,220	-100.0%	$0.00	-
Q2 2016	HBI Hanesbrands Inc.	Hanesbrands Inc.	Sell	-2,315	-0.6%	$10.03K	399,155
Q2 2016	LYB LyondellBasell	LyondellBasell	Buy - Position Entry	+3,000	-	$223.00	3,000
Q2 2016	MCK McKesson Corporation	McKesson Corporation	Buy - Position Entry	+46,183	-	$8.62K	46,183
Q2 2016	MGNX MacroGenics, Inc.	MacroGenics, Inc.	Sell	-51,410	-76.5%	$427.00	15,835
Q2 2016	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-1,125	-0.5%	$12.05K	235,538
Q2 2016	OLED Universal Display Corporation	Universal Display Corporation	Sell	-645	-0.9%	$5.08K	74,930
Q2 2016	ON ON Semiconductor Corporation	ON Semiconductor Corporation	Sell	-7,255	-0.6%	$11.13K	1,261,735
Q2 2016	PFE Pfizer, Inc.	Pfizer, Inc.	Sell	-1,360	-3.5%	$1.30K	37,049
Q2 2016	RUSHB Rush Enterprises, Inc.	Rush Enterprises, Inc.	Buy	+370	+0.4%	$1.99K	95,927
Q2 2016	SAVE Spirit Airlines, Inc.	Spirit Airlines, Inc.	Sell	-760	-0.4%	$8.64K	192,555
Q2 2016	SLB Schlumberger N.V.	Schlumberger N.V.	Sell	-230	-0.4%	$4.75K	60,080
Q2 2016	TEVA Teva Pharmaceutical Industries	Teva Pharmaceutical Industries	Sell	-505	-0.3%	$8.87K	176,655
Q2 2016	UNH UnitedHealth Group Incorporated	UnitedHealth Group Incorporated	Sell	-260	-0.4%	$8.50K	60,220