Ronald Muhlenkamp - Muhlenkamp & Co 13F Activity & Position Changes (Q4 2014)

According to the SEC 13F filed on Aug 18, 2026, the Muhlenkamp & Co portfolio showed several notable changes in holdings as of quarter-end Dec 31, 2014. 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 Q4 2014, the filing reported:

New Buys - American Airlines Group, Inc., Celanese Corporation

Increases - Apple Inc., American Axle & Manufacturing H, Discover Financial Services, DoubleLine Income Solutions Fun, Gilead Sciences, Inc., and 2 more

Reductions - Asbury Automotive Group Inc, American International Group, I, Bread Financial Holdings, Inc., Bristol-Myers Squibb Company, Berkshire Hathaway Inc. New, and 18 more

Complete Exits - Clean Energy Fuels Corp., Cisco Systems, 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
Q4 2014	AAL American Airlines Group, Inc.	American Airlines Group, Inc.	Buy - Position Entry	+123,035	-	$6.60K	123,035
Q4 2014	AAPL Apple Inc.	Apple Inc.	Buy	+50,999	+51.1%	$16.65K	150,828
Q4 2014	ABG Asbury Automotive Group Inc	Asbury Automotive Group Inc	Sell	-35,895	-29.1%	$6.65K	87,605
Q4 2014	AIG American International Group, I	American International Group, I	Sell	-103,465	-29.1%	$14.11K	251,950
Q4 2014	AXL American Axle & Manufacturing H	American Axle & Manufacturing H	Buy	+223,835	+36.7%	$18.83K	833,380
Q4 2014	BFH Bread Financial Holdings, Inc.	Bread Financial Holdings, Inc.	Sell	-50,345	-29.3%	$34.71K	121,330
Q4 2014	BMY Bristol-Myers Squibb Company	Bristol-Myers Squibb Company	Sell	-195	-0.1%	$12.53K	212,290
Q4 2014	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Sell	-150	-0.1%	$16.92K	112,675
Q4 2014	C Citigroup, Inc.	Citigroup, Inc.	Sell	-50,655	-15.3%	$15.12K	279,400
Q4 2014	CE Celanese Corporation	Celanese Corporation	Buy - Position Entry	+268,235	-	$16.08K	268,235
Q4 2014	CLNE Clean Energy Fuels Corp.	Clean Energy Fuels Corp.	Sell - Position Exit	-886,845	-100.0%	$0.00	-
Q4 2014	CSCO Cisco Systems, Inc.	Cisco Systems, Inc.	Sell - Position Exit	-162,854	-100.0%	$0.00	-
Q4 2014	DAL Delta Air Lines, Inc.	Delta Air Lines, Inc.	Sell	-490,025	-64.9%	$13.05K	265,390
Q4 2014	DFS Discover Financial Services	Discover Financial Services	Buy	+99,585	+223.9%	$9.44K	144,070
Q4 2014	DSL DoubleLine Income Solutions Fun	DoubleLine Income Solutions Fun	Buy	+1,270	+8.4%	$325.00	16,350
Q4 2014	GILD Gilead Sciences, Inc.	Gilead Sciences, Inc.	Buy	+12,595	+6.1%	$20.64K	218,945
Q4 2014	GM General Motors Company	General Motors Company	Sell	-155,890	-69.2%	$2.42K	69,420
Q4 2014	HAL Halliburton Company	Halliburton Company	Sell	-238,605	-95.1%	$485.00	12,330
Q4 2014	HBI Hanesbrands Inc.	Hanesbrands Inc.	Sell	-535	-0.4%	$14.26K	127,775
Q4 2014	IBM International Business Machines	International Business Machines	Sell	-80	-1.5%	$817.00	5,090
Q4 2014	ISSC Innovative Solutions and Suppor	Innovative Solutions and Suppor	Sell	-28,550	-7.1%	$1.19K	375,244
Q4 2014	JPM JP Morgan Chase & Co.	JP Morgan Chase & Co.	Sell	-100,510	-21.8%	$22.50K	359,535
Q4 2014	LSCC Lattice Semiconductor Corporati	Lattice Semiconductor Corporati	Sell	-740	-0.1%	$4.07K	590,240
Q4 2014	MGNX MacroGenics, Inc.	MacroGenics, Inc.	Sell	-250	-1.5%	$587.00	16,725
Q4 2014	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-9,875	-4.9%	$8.84K	190,315
Q4 2014	OLED Universal Display Corporation	Universal Display Corporation	Sell	-215	-0.1%	$5.87K	211,505
Q4 2014	ON ON Semiconductor Corporation	ON Semiconductor Corporation	Buy	+200,000	+64.8%	$5.15K	508,455
Q4 2014	ORCL Oracle Corporation	Oracle Corporation	Sell	-400,520	-73.7%	$6.44K	143,255
Q4 2014	PAAS Pan American Silver Corp.	Pan American Silver Corp.	Buy	+500	+2.5%	$191.00	20,710
Q4 2014	PFE Pfizer, Inc.	Pfizer, Inc.	Sell	-1,090	-2.8%	$1.20K	38,409

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