Ronald Muhlenkamp - Muhlenkamp & Co 13F Activity & Position Changes (Q3 2017)

According to the SEC 13F filed on Aug 18, 2026, the Muhlenkamp & Co portfolio showed several notable changes in holdings as of quarter-end Sep 30, 2017. 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 2017, the filing reported:

New Buys - Cognizant Technology Solutions

Increases - None reported

Reductions - Apple Inc., American Axle & Manufacturing H, Bread Financial Holdings, Inc., Biogen Inc., Bristol-Myers Squibb Company, and 21 more

Complete Exits - General Motors Company, Schlumberger N.V., Tesla, 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
Q3 2017	AAPL Apple Inc.	Apple Inc.	Sell	-745	-0.5%	$22.72K	147,401
Q3 2017	AXL American Axle & Manufacturing H	American Axle & Manufacturing H	Sell	-7,900	-32.6%	$287.00	16,300
Q3 2017	BFH Bread Financial Holdings, Inc.	Bread Financial Holdings, Inc.	Sell	-48,860	-41.2%	$15.46K	69,782
Q3 2017	BIIB Biogen Inc.	Biogen Inc.	Sell	-998	-3.9%	$7.69K	24,547
Q3 2017	BMY Bristol-Myers Squibb Company	Bristol-Myers Squibb Company	Sell	-805	-0.5%	$11.29K	177,169
Q3 2017	CCJ Cameco Corporation	Cameco Corporation	Sell	-5,540	-0.6%	$8.37K	865,258
Q3 2017	CE Celanese Corporation	Celanese Corporation	Sell	-12,830	-10.5%	$11.40K	109,335
Q3 2017	CTSH Cognizant Technology Solutions	Cognizant Technology Solutions	Buy - Position Entry	+92,220	-	$6.69K	92,220
Q3 2017	DAL Delta Air Lines, Inc.	Delta Air Lines, Inc.	Sell	-2,005	-1.5%	$6.28K	130,145
Q3 2017	FHI Federated Hermes, Inc.	Federated Hermes, Inc.	Sell	-7,050	-2.4%	$8.67K	291,886
Q3 2017	GILD Gilead Sciences, Inc.	Gilead Sciences, Inc.	Sell	-1,538	-0.7%	$18.16K	224,147
Q3 2017	GLD SPDR Gold Trust	SPDR Gold Trust	Sell	-1,970	-2.3%	$10.05K	82,630
Q3 2017	GM General Motors Company	General Motors Company	Sell - Position Exit	-665	-100.0%	$0.00	-
Q3 2017	GME GameStop Corporation	GameStop Corporation	Sell	-1,819	-0.7%	$5.26K	254,700
Q3 2017	HBI Hanesbrands Inc.	Hanesbrands Inc.	Sell	-14,629	-2.9%	$11.90K	483,137
Q3 2017	MCHP Microchip Technology Incorporat	Microchip Technology Incorporat	Sell	-855	-0.9%	$8.87K	98,815
Q3 2017	MCK McKesson Corporation	McKesson Corporation	Sell	-409	-0.6%	$10.90K	70,956
Q3 2017	MGNX MacroGenics, Inc.	MacroGenics, Inc.	Sell	-415	-3.2%	$236.00	12,752
Q3 2017	MS Morgan Stanley	Morgan Stanley	Sell	-752	-10.4%	$313.00	6,505
Q3 2017	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-975	-0.4%	$17.24K	231,413
Q3 2017	ON ON Semiconductor Corporation	ON Semiconductor Corporation	Sell	-26,395	-2.1%	$22.38K	1,211,925
Q3 2017	PFE Pfizer, Inc.	Pfizer, Inc.	Sell	-5,540	-16.8%	$982.00	27,494
Q3 2017	RUSHB Rush Enterprises, Inc.	Rush Enterprises, Inc.	Sell	-500	-3.1%	$685.00	15,706
Q3 2017	SAVE Spirit Airlines, Inc.	Spirit Airlines, Inc.	Sell	-81,955	-92.1%	$235.00	7,035
Q3 2017	SLB Schlumberger N.V.	Schlumberger N.V.	Sell - Position Exit	-73,010	-100.0%	$0.00	-
Q3 2017	TCEHY Tencent Holding Ltd.	Tencent Holding Ltd.	Sell	-6,698	-2.7%	$10.67K	242,998
Q3 2017	TEVA Teva Pharmaceutical Industries	Teva Pharmaceutical Industries	Sell	-105,805	-99.3%	$12.00	700
Q3 2017	TPH Tri Pointe Homes, Inc.	Tri Pointe Homes, Inc.	Sell	-5,200	-20.0%	$287.00	20,800
Q3 2017	TSLA Tesla, Inc.	Tesla, Inc.	Sell - Position Exit	-75	-100.0%	$0.00	-
Q3 2017	UNH UnitedHealth Group Incorporated	UnitedHealth Group Incorporated	Sell	-325	-0.6%	$11.50K	58,699