Ronald Muhlenkamp - Muhlenkamp & Co 13F Activity & Position Changes (Q3 2019)

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, 2019. 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 2019, the filing reported:

New Buys - Berkshire Hathaway Inc. New, CVS Health Corporation, Lockheed Martin Corporation

Increases - Apple Inc., Acuity Brands, Inc., Bread Financial Holdings, Inc., Cameco Corporation, Cognizant Technology Solutions , and 5 more

Reductions - Broadcom Inc., AutoZone, Inc., Biogen Inc., Celanese Corporation, Microsoft Corporation, and 3 more

Complete Exits - DuPont de Nemours, Inc., Federated Hermes, 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 2019	AAPL Apple Inc.	Apple Inc.	Buy	+9	+0.0%	$14.09K	62,923
Q3 2019	AVGO Broadcom Inc.	Broadcom Inc.	Sell	-6,488	-24.3%	$5.57K	20,173
Q3 2019	AYI Acuity Brands, Inc.	Acuity Brands, Inc.	Buy	+10	+0.0%	$5.79K	42,970
Q3 2019	AZO AutoZone, Inc.	AutoZone, Inc.	Sell	-6,727	-63.7%	$4.15K	3,829
Q3 2019	BFH Bread Financial Holdings, Inc.	Bread Financial Holdings, Inc.	Buy	+17	+0.0%	$8.79K	68,640
Q3 2019	BIIB Biogen Inc.	Biogen Inc.	Sell	-6	-0.0%	$4.14K	17,774
Q3 2019	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Buy - Position Entry	+36,322	-	$7.56K	36,322
Q3 2019	CCJ Cameco Corporation	Cameco Corporation	Buy	+100	+0.0%	$8.03K	844,996
Q3 2019	CE Celanese Corporation	Celanese Corporation	Sell	-15	-0.0%	$6.02K	49,263
Q3 2019	CTSH Cognizant Technology Solutions	Cognizant Technology Solutions	Buy	+62	+0.1%	$5.56K	92,225
Q3 2019	CVS CVS Health Corporation	CVS Health Corporation	Buy - Position Entry	+70,035	-	$4.42K	70,035
Q3 2019	DD DuPont de Nemours, Inc.	DuPont de Nemours, Inc.	Sell - Position Exit	-37,648	-100.0%	$0.00	-
Q3 2019	FHI Federated Hermes, Inc.	Federated Hermes, Inc.	Sell - Position Exit	-247,158	-100.0%	$0.00	-
Q3 2019	GILD Gilead Sciences, Inc.	Gilead Sciences, Inc.	Buy	+58	+0.0%	$8.40K	132,609
Q3 2019	LMT Lockheed Martin Corporation	Lockheed Martin Corporation	Buy - Position Entry	+18,888	-	$7.37K	18,888
Q3 2019	MCHP Microchip Technology Incorporat	Microchip Technology Incorporat	Buy	+10	+0.0%	$8.84K	95,119
Q3 2019	MCK McKesson Corporation	McKesson Corporation	Buy	+1,110	+1.6%	$9.64K	70,538
Q3 2019	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-15,015	-11.9%	$15.39K	110,728
Q3 2019	MTH Meritage Homes Corporation	Meritage Homes Corporation	Buy	+61	+0.1%	$8.29K	117,765
Q3 2019	PFE Pfizer, Inc.	Pfizer, Inc.	Sell	-96	-0.4%	$923.00	25,689
Q3 2019	PKW Invesco BuyBack Achievers ETF	Invesco BuyBack Achievers ETF	Sell	-185	-0.6%	$1.97K	31,400
Q3 2019	UNH UnitedHealth Group Incorporated	UnitedHealth Group Incorporated	Sell	-19,562	-65.5%	$2.24K	10,322
Q3 2019	WAB Westinghouse Air Brake Technolo	Westinghouse Air Brake Technolo	Buy	+26	+0.0%	$3.78K	52,547