Muhlenkamp & Company 13F, Q4 2025
Muhlenkamp · quarter ending 31 December 2025 · filed 4 February 2026 · SEC CIK 1133219
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q4 2025
The 25 largest of 28 positions. Weights are against the whole filed book. Changes are in shares held, against the Q3 2025 filing.
| Company | Ticker | Value | % of book | vs Q3 2025 |
|---|---|---|---|---|
| NEWMONT CORP | NEM | $28.41M | 7.6% | unchanged |
| AGNICO EAGLE MINES LTD | AEM | $25.64M | 6.9% | unchanged |
| EQT CORP | EQT | $24.18M | 6.5% | unchanged |
| MASTEC INC | MTZ | $22.99M | 6.2% | unchanged |
| MCKESSON CORP | MCK | $22.31M | 6.0% | unchanged |
| RUSH ENTERPRISES INC | RUSHA | $20.26M | 5.5% | unchanged |
| ROYAL GOLD INC | RGLD | $19.55M | 5.3% | unchanged |
| BERKSHIRE HATHAWAY INC DEL | BRK/B | $19.31M | 5.2% | unchanged |
| NMI HLDGS INC | NMIH | $19.08M | 5.1% | unchanged |
| APPLE INC | AAPL | $17.08M | 4.6% | unchanged |
| MICROSOFT CORP | MSFT | $15.96M | 4.3% | +2% shares |
| BGC GROUP INC | BGC | $15.71M | 4.2% | unchanged |
| WABTEC | WAB | $13.51M | 3.6% | unchanged |
| ICON PLC | $13.46M | 3.6% | unchanged | |
| MICROCHIP TECHNOLOGY INC. | MCHP | $12.93M | 3.5% | unchanged |
| UNITED RENTALS INC | URI | $12.63M | 3.4% | unchanged |
| SLB LIMITED | SLB | $12.36M | 3.3% | unchanged |
| TAYLOR MORRISON HOME CORP | TMHC | $9.33M | 2.5% | unchanged |
| CELANESE CORP DEL | CE | $8.85M | 2.4% | +14% shares |
| SPDR GOLD TR | GLD | $8.84M | 2.4% | unchanged |
| ALPS ETF TR | AMLP | $8.29M | 2.2% | unchanged |
| LYONDELLBASELL INDUSTRIES N | $8.05M | 2.2% | unchanged | |
| EQUINOX GOLD CORP | EQX | $7.27M | 2.0% | unchanged |
| TRAVELERS COMPANIES INC | TRV | $1.92M | 0.5% | unchanged |
| CHART INDS INC | GTLS | $1.63M | 0.4% | unchanged |
What changed since Q3 2025
Against the Q3 2025 filing, Muhlenkamp & Company opened 0 new positions, added to 2, trimmed 0, left 26 unchanged and exited 3. 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 0001133219-26-000001, 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.