Muhlenkamp & Company 13F, Q2 2025
Muhlenkamp · quarter ending 30 June 2025 · filed 24 July 2025 · SEC CIK 1133219
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q2 2025
The 25 largest of 26 positions. Weights are against the whole filed book. Changes are in shares held, against the Q1 2025 filing.
| Company | Ticker | Value | % of book | vs Q1 2025 |
|---|---|---|---|---|
| EQT CORP | EQT | $26.30M | 8.2% | unchanged |
| MCKESSON CORP | MCK | $19.85M | 6.2% | -30% shares |
| NMI HLDGS INC | NMIH | $19.65M | 6.1% | unchanged |
| RUSH ENTERPRISES INC | RUSHA | $19.25M | 6.0% | unchanged |
| BERKSHIRE HATHAWAY INC DEL | BRK/B | $18.63M | 5.8% | unchanged |
| MASTEC INC | MTZ | $18.08M | 5.6% | unchanged |
| AGNICO EAGLE MINES LTD | AEM | $17.99M | 5.6% | unchanged |
| BGC GROUP INC | BGC | $17.90M | 5.6% | unchanged |
| NEWMONT CORP | NEM | $16.54M | 5.2% | unchanged |
| MICROSOFT CORP | MSFT | $16.07M | 5.0% | unchanged |
| ROYAL GOLD INC | RGLD | $15.57M | 4.9% | unchanged |
| MICROCHIP TECHNOLOGY INC. | MCHP | $14.18M | 4.4% | +81% shares |
| WABTEC | WAB | $13.18M | 4.1% | unchanged |
| APPLE INC | AAPL | $12.85M | 4.0% | unchanged |
| UNITED RENTALS INC | URI | $11.70M | 3.6% | unchanged |
| SCHLUMBERGER LTD | SLB | $10.79M | 3.4% | unchanged |
| TAYLOR MORRISON HOME CORP | TMHC | $9.65M | 3.0% | unchanged |
| ALPS ETF TR | AMLP | $8.63M | 2.7% | unchanged |
| CELANESE CORP DEL | CE | $8.37M | 2.6% | new |
| SPDR GOLD TR | GLD | $6.80M | 2.1% | unchanged |
| JD.COM INC | JD | $6.66M | 2.1% | unchanged |
| DOW INC | DOW | $6.07M | 1.9% | unchanged |
| TRANSOCEAN LTD | $2.74M | 0.9% | +3% shares | |
| TRAVELERS COMPANIES INC | TRV | $1.78M | 0.6% | unchanged |
| ENTERPRISE PRODS PARTNERS L | EPD | $770.8K | 0.2% | unchanged |
What changed since Q1 2025
Against the Q1 2025 filing, Muhlenkamp & Company opened 1 new position, added to 2, trimmed 1, left 22 unchanged and exited 1. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Other quarters
Source: SEC Form 13F-HR, accession 0001133219-25-000005, filed by MUHLENKAMP & CO INC. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.