Ronald Muhlenkamp - Muhlenkamp & Co 13F Activity & Position Changes (Q4 2015)

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, 2015. 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 2015, the filing reported:

New Buys - Good Times Restaurants Inc., Kinder Morgan, Inc., Williams Companies, Inc. (The)

Increases - Apple Inc., Bristol-Myers Squibb Company, Spirit Airlines, Inc., Schlumberger N.V.

Reductions - American Axle & Manufacturing H, Bread Financial Holdings, Inc., Celanese Corporation, Gilead Sciences, Inc., Halliburton Company, and 8 more

Complete Exits - Asbury Automotive Group Inc, Energy Transfer LP, Genworth Financial Inc, Innovative Solutions and Suppor, Medtronic, and 3 more

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 2015	AAPL Apple Inc.	Apple Inc.	Buy	+249	+0.2%	$15.93K	151,323
Q4 2015	ABG Asbury Automotive Group Inc	Asbury Automotive Group Inc	Sell - Position Exit	-81,685	-100.0%	$0.00	-
Q4 2015	AXL American Axle & Manufacturing H	American Axle & Manufacturing H	Sell	-1,300	-10.3%	$214.00	11,300
Q4 2015	BFH Bread Financial Holdings, Inc.	Bread Financial Holdings, Inc.	Sell	-15	-0.0%	$33.53K	121,220
Q4 2015	BMY Bristol-Myers Squibb Company	Bristol-Myers Squibb Company	Buy	+5	+0.0%	$14.57K	211,755
Q4 2015	CE Celanese Corporation	Celanese Corporation	Sell	-35	-0.0%	$18.08K	268,535
Q4 2015	ET Energy Transfer LP	Energy Transfer LP	Sell - Position Exit	-15,634	-100.0%	$0.00	-
Q4 2015	GILD Gilead Sciences, Inc.	Gilead Sciences, Inc.	Sell	-15	-0.0%	$22.06K	217,975
Q4 2015	GNW Genworth Financial Inc	Genworth Financial Inc	Sell - Position Exit	-24,400	-100.0%	$0.00	-
Q4 2015	GTIM Good Times Restaurants Inc.	Good Times Restaurants Inc.	Buy - Position Entry	+13,935	-	$67.00	13,935
Q4 2015	HAL Halliburton Company	Halliburton Company	Sell	-900	-0.9%	$3.40K	100,000
Q4 2015	HBI Hanesbrands Inc.	Hanesbrands Inc.	Sell	-40	-0.0%	$11.81K	401,250
Q4 2015	ISSC Innovative Solutions and Suppor	Innovative Solutions and Suppor	Sell - Position Exit	-178,179	-100.0%	$0.00	-
Q4 2015	JPM JP Morgan Chase & Co.	JP Morgan Chase & Co.	Sell	-65	-0.0%	$23.55K	356,620
Q4 2015	KMI Kinder Morgan, Inc.	Kinder Morgan, Inc.	Buy - Position Entry	+14,570	-	$217.00	14,570
Q4 2015	MDT Medtronic	Medtronic	Sell - Position Exit	-173,364	-100.0%	$0.00	-
Q4 2015	MGNX MacroGenics, Inc.	MacroGenics, Inc.	Sell	-90	-0.1%	$2.06K	66,410
Q4 2015	MS Morgan Stanley	Morgan Stanley	Sell	-90	-0.0%	$10.19K	320,475
Q4 2015	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-2,062	-0.7%	$16.01K	288,613
Q4 2015	OLED Universal Display Corporation	Universal Display Corporation	Sell	-59,995	-32.1%	$6.90K	126,765
Q4 2015	ON ON Semiconductor Corporation	ON Semiconductor Corporation	Sell	-1,900	-0.1%	$12.42K	1,267,700
Q4 2015	PAAS Pan American Silver Corp.	Pan American Silver Corp.	Sell - Position Exit	-10,360	-100.0%	$0.00	-
Q4 2015	PACB Pacific Biosciences of Californ	Pacific Biosciences of Californ	Sell - Position Exit	-11,125	-100.0%	$0.00	-
Q4 2015	PHM PulteGroup, Inc.	PulteGroup, Inc.	Sell	-2,050	-12.3%	$259.00	14,550
Q4 2015	SAVE Spirit Airlines, Inc.	Spirit Airlines, Inc.	Buy	+21,356	+12.4%	$7.70K	193,105
Q4 2015	SLB Schlumberger N.V.	Schlumberger N.V.	Buy	+205	+0.3%	$4.17K	59,805
Q4 2015	STT State Street Corporation	State Street Corporation	Sell - Position Exit	-135,712	-100.0%	$0.00	-
Q4 2015	WMB Williams Companies, Inc. (The)	Williams Companies, Inc. (The)	Buy - Position Entry	+8,365	-	$215.00	8,365