Ronald Muhlenkamp - Muhlenkamp & Co 13F Activity & Position Changes (Q3 2018)

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, 2018. 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 2018, the filing reported:

New Buys - Acuity Brands, Inc.

Increases - None reported

Reductions - Apple Inc., AutoZone, Inc., Bread Financial Holdings, Inc., Biogen Inc., Cameco Corporation, and 14 more

Complete Exits - ON Semiconductor Corporation, PulteGroup, Inc., Tencent Holding Ltd.

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 2018	AAPL Apple Inc.	Apple Inc.	Sell	-584	-0.6%	$20.37K	90,240
Q3 2018	AYI Acuity Brands, Inc.	Acuity Brands, Inc.	Buy - Position Entry	+43,873	-	$6.90K	43,873
Q3 2018	AZO AutoZone, Inc.	AutoZone, Inc.	Sell	-61	-0.6%	$8.36K	10,774
Q3 2018	BFH Bread Financial Holdings, Inc.	Bread Financial Holdings, Inc.	Sell	-441	-0.6%	$16.55K	70,078
Q3 2018	BIIB Biogen Inc.	Biogen Inc.	Sell	-6,803	-27.0%	$6.49K	18,368
Q3 2018	CCJ Cameco Corporation	Cameco Corporation	Sell	-4,987	-0.6%	$9.83K	862,495
Q3 2018	CE Celanese Corporation	Celanese Corporation	Sell	-591	-0.6%	$11.48K	100,686
Q3 2018	CTSH Cognizant Technology Solutions	Cognizant Technology Solutions	Sell	-482	-0.5%	$7.26K	94,052
Q3 2018	DAL Delta Air Lines, Inc.	Delta Air Lines, Inc.	Sell	-293	-0.3%	$6.65K	115,015
Q3 2018	FHI Federated Hermes, Inc.	Federated Hermes, Inc.	Sell	-1,850	-0.7%	$6.08K	251,935
Q3 2018	GILD Gilead Sciences, Inc.	Gilead Sciences, Inc.	Sell	-823	-0.6%	$10.45K	135,401
Q3 2018	GLD SPDR Gold Trust	SPDR Gold Trust	Sell	-500	-0.6%	$9.46K	83,871
Q3 2018	GME GameStop Corporation	GameStop Corporation	Sell	-1,117	-0.4%	$3.96K	259,636
Q3 2018	MCHP Microchip Technology Incorporat	Microchip Technology Incorporat	Sell	-741	-0.7%	$7.75K	98,227
Q3 2018	MCK McKesson Corporation	McKesson Corporation	Sell	-348	-0.5%	$9.38K	70,742
Q3 2018	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-719	-0.4%	$18.54K	162,102
Q3 2018	ON ON Semiconductor Corporation	ON Semiconductor Corporation	Sell - Position Exit	-536,518	-100.0%	$0.00	-
Q3 2018	PFE Pfizer, Inc.	Pfizer, Inc.	Sell	-1,055	-3.8%	$1.17K	26,430
Q3 2018	PHM PulteGroup, Inc.	PulteGroup, Inc.	Sell - Position Exit	-205,951	-100.0%	$0.00	-
Q3 2018	PKW Invesco BuyBack Achievers ETF	Invesco BuyBack Achievers ETF	Sell	-1,018	-2.8%	$2.16K	35,363
Q3 2018	TCEHY Tencent Holding Ltd.	Tencent Holding Ltd.	Sell - Position Exit	-245,620	-100.0%	$0.00	-
Q3 2018	THO Thor Industries, Inc.	Thor Industries, Inc.	Sell	-35,093	-78.3%	$812.00	9,700
Q3 2018	UNH UnitedHealth Group Incorporated	UnitedHealth Group Incorporated	Sell	-270	-0.5%	$15.49K	58,221