Ron Muhlenkamp - Muhlenkamp & Company
Period:    Q1 2026
Portfolio date:    31 Mar 2026
No. of stocks:    29
Portfolio value:    $379,789,142
Holdings Activity Buys Sells    History
History Stock % of
Portfolio
Recent
Activity
Shares Avg. Buy
Price*
Value Current
Price
+/-
Since
Buy
52
Week
Low
52
Week
High
AEM - Agnico Eagle Mines Ltd. 7.41 Reduce 8.38% 138,588 $78.38 $28,130,592 $143.51 83.10% $115.75 $254.61
EQT - EQT Corp. 6.72 Reduce 11.06% 401,242 $41.14 $25,535,041 $49.72 20.86% $47.94 $68.05
NEM - Newmont Corp. 6.59 Reduce 18.74% 231,182 $38.98 $25,025,452 $93.10 138.82% $54.79 $134.29
MCK - McKesson Corp. 6.19 Reduce 0.09% 27,169 $429.83 $23,510,966 $812.28 88.98% $634.42 $997.90
RGLD - Royal Gold, Inc. 5.89 Reduce 0.04% 87,892 $118.14 $22,367,635 $193.47 63.76% $149.46 $304.97
RUSHA - Rush Enterprises, Inc. 5.78 Reduce 11.61% 331,905 $40.84 $21,942,240 $75.24 84.22% $45.26 $76.79
BRK.B - Berkshire Hathaway CL B 4.84 Reduce 0.16% 38,351 $343.00 $18,377,799 $496.85 44.85% $455.19 $516.85
SLB - SLB N.V. 4.36 Add 0.04% 322,171 $48.88 $16,556,368 $47.36 -3.12% $31.05 $58.51
AAPL - Apple Inc. 4.18 Reduce 0.45% 62,559 $193.34 $15,876,849 $317.31 64.12% $200.70 $323.45
WAB - Westinghouse Air Brake Technologies Corp. 4.16 Reduce 0.23% 63,155 $111.75 $15,783,066 $260.86 133.43% $183.59 $284.91
LYB - LyondellBasell Industries N.V. 3.97 Add 0.72% 187,159 $49.21 $15,077,529 $58.32 18.51% $39.52 $83.07
BGC - BGC Group, Inc. 3.72 Reduce 17.92% 1,443,941 $5.40 $14,121,743 $10.98 103.28% $8.22 $12.89
CE - Celanese Corp. 3.65 Add 0.67% 210,800 $51.76 $13,864,316 $47.92 -7.43% $35.09 $70.70
MTZ - MasTec, Inc. 3.63 Reduce 59.50% 42,832 $116.90 $13,780,768 $360.21 208.14% $160.08 $441.43
NMIH - NMI Holdings, Inc. 3.62 Reduce 21.71% 366,219 $26.08 $13,736,875 $41.53 59.23% $34.84 $42.28
MCHP - Microchip Technology Inc. 3.45 202,985 $80.76 $13,114,861 $84.23 4.29% $47.57 $105.38
FRDM - Freedom 100 Emerging Markets ETF 3.41 Buy 236,825 $54.65 $12,942,486 $66.20 21.13% $39.12 $76.55
MSFT - Microsoft Corp. 3.21 Reduce 0.21% 32,937 $346.65 $12,192,295 $390.99 12.79% $349.20 $551.05
URI - United Rentals, Inc. 2.99 Reduce 0.02% 15,603 $457.35 $11,367,722 $1,085.34 137.31% $700.14 $1,143.69
GLD - SPDR Gold Shares 2.50 Reduce 0.98% 22,083 $184.51 $9,502,094 $367.13 98.97% $300.96 $509.70
TMHC - Taylor Morrison Home Corp. 2.43 Add 0.04% 158,606 $46.78 $9,237,213 $71.87 53.65% $54.15 $72.50
AMLP - Alerian MLP ETF 2.09 Reduce 14.57% 150,615 $39.35 $7,928,374 $53.69 36.44% $42.02 $55.22
EQX - Equinox Gold Corp. 1.98 Add 0.23% 519,219 $11.25 $7,507,907 $9.45 -15.98% $5.99 $18.92
ICLR - ICON Public Ltd. Co. 1.92 Reduce 10.64% 66,005 $175.04 $7,304,113 $166.10 -5.11% $66.57 $211.00
TRV - The Travelers Companies, Inc. 0.51 6,627 $264.46 $1,932,963 $341.51 29.13% $245.29 $349.35
GEV - GE Vernova Inc. 0.33 1,426 $614.90 $1,244,755 $1,042.60 69.56% $529.18 $1,195.94
EPD - Enterprise Products Partners L.P. 0.25 24,855 $26.56 $940,513 $38.31 44.26% $28.61 $40.17
RUSHB - Rush Enterprises, Inc. 0.16 Reduce 0.49% 9,454 $45.37 $608,365 $75.75 66.96% $47.44 $78.91
XOM - ExxonMobil Holdings Corp. 0.07 Buy 1,640 $169.66 $278,242 $144.51 -14.82% $102.27 $175.22
* Avg. Buy Price is an estimated cost basis: the share-weighted average of the quarter-end prices reported when this manager first bought or later added to the position (average-cost method, reset after a full exit). 13F filings disclose only quarter-end holdings, not actual trade prices, so this approximates — but does not exactly equal — what was paid.
Sector % analysis
Basic Materials 29.48
Financial Services 12.68
Energy 11.40
Industrials 11.11
Technology 10.84
Consumer Cyclical 8.37
Healthcare 8.11
Unknown 8.00