Ronald Muhlenkamp - Muhlenkamp & Co 13F Activity & Position Changes (Q3 2016)

As of Sep 30, 2016, the Muhlenkamp & Co portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 06, 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 Q3 2016, the filing reported:

New Buys - Morgan Stanley, Tencent Holding Ltd.

Increases - Allegiant Travel Company, Delta Air Lines, Inc., Universal Display Corporation, Rush Enterprises, Inc.

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

Complete Exits - None reported

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 2016	AAPL Apple Inc.	Apple Inc.	Sell	-519	-0.3%	$16.97K	150,111
Q3 2016	ALGT Allegiant Travel Company	Allegiant Travel Company	Buy	+257	+0.8%	$4.52K	34,258
Q3 2016	BFH Bread Financial Holdings, Inc.	Bread Financial Holdings, Inc.	Sell	-624	-0.5%	$25.79K	120,230
Q3 2016	BIIB Biogen Inc.	Biogen Inc.	Sell	-225	-0.9%	$7.35K	23,478
Q3 2016	BMY Bristol-Myers Squibb Company	Bristol-Myers Squibb Company	Sell	-1,024	-0.6%	$9.72K	180,316
Q3 2016	CE Celanese Corporation	Celanese Corporation	Sell	-850	-0.7%	$8.23K	123,720
Q3 2016	CYH Community Health Systems, Inc.	Community Health Systems, Inc.	Sell	-1,865	-0.5%	$4.33K	375,380
Q3 2016	DAL Delta Air Lines, Inc.	Delta Air Lines, Inc.	Buy	+300	+0.2%	$5.27K	134,005
Q3 2016	GILD Gilead Sciences, Inc.	Gilead Sciences, Inc.	Sell	-2,505	-1.2%	$16.97K	214,495
Q3 2016	GLD SPDR Gold Trust	SPDR Gold Trust	Sell	-605	-0.7%	$10.89K	86,715
Q3 2016	HBI Hanesbrands Inc.	Hanesbrands Inc.	Sell	-2,450	-0.6%	$10.02K	396,705
Q3 2016	MCK McKesson Corporation	McKesson Corporation	Sell	-430	-0.9%	$7.63K	45,753
Q3 2016	MGNX MacroGenics, Inc.	MacroGenics, Inc.	Sell	-3,673	-23.2%	$364.00	12,162
Q3 2016	MS Morgan Stanley	Morgan Stanley	Buy - Position Entry	+6,505	-	$209.00	6,505
Q3 2016	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-800	-0.3%	$13.52K	234,738
Q3 2016	OLED Universal Display Corporation	Universal Display Corporation	Buy	+430	+0.6%	$4.18K	75,360
Q3 2016	ON ON Semiconductor Corporation	ON Semiconductor Corporation	Sell	-6,470	-0.5%	$15.46K	1,255,265
Q3 2016	PFE Pfizer, Inc.	Pfizer, Inc.	Sell	-1,015	-2.7%	$1.22K	36,034
Q3 2016	RUSHB Rush Enterprises, Inc.	Rush Enterprises, Inc.	Buy	+1,300	+1.4%	$2.36K	97,227
Q3 2016	SAVE Spirit Airlines, Inc.	Spirit Airlines, Inc.	Sell	-1,275	-0.7%	$8.13K	191,280
Q3 2016	SLB Schlumberger N.V.	Schlumberger N.V.	Sell	-95	-0.2%	$4.72K	59,985
Q3 2016	TCEHY Tencent Holding Ltd.	Tencent Holding Ltd.	Buy - Position Entry	+252,393	-	$7.04K	252,393
Q3 2016	TEVA Teva Pharmaceutical Industries	Teva Pharmaceutical Industries	Sell	-885	-0.5%	$8.09K	175,770
Q3 2016	UNH UnitedHealth Group Incorporated	UnitedHealth Group Incorporated	Sell	-560	-0.9%	$8.35K	59,660