Q2 2026 · SEC CIK 0001133219
Muhlenkamp portfolio
SuperinvestorMutual fund managerMuhlenkamp & Co Inc filed on 2026-08-18. Open SEC filings ↗
- Reported 13F value
- $345.3M
- Reported positions
- 28
- Eligible equities
- 23
- Holdings vs S&P 500, 3 years
- -2.2 pts
Average holding period of the top positions: 6.2 yrs. Holdings vs the S&P 500 over 1 and 5 years: +8.1 pts, +2.6 pts.
In its Q2 2026 13F, filed 2026-08-18, Muhlenkamp & Co Inc reported 28 positions worth $345.3M. Its largest holdings were RUSH ENTERPRISES INC (RUSHA, 7.0%), NEWMONT CORP (NEM, 6.3%), AGNICO EAGLE MINES LTD (AEM, 6.2%). Over the last 3 years its top holdings ran 2.2 points a year behind the S&P 500.
Reported holdings in the Q2 2026 snapshot.
The portfolio weight uses the full reported share-portfolio denominator. Weight changes compare Q1 2026 to Q2 2026; price moves also change weights, so these are not trade labels. “New” means the position was not in the previous 13F at all; “—” marks a small position the earlier filing data does not cover.
| Stock | % of reported portfolio | Weight change | Reported value |
|---|---|---|---|
| RUSHARUSH ENTERPRISES INC | 7.0% | +1.25 pp | $24.3M |
| NEMNEWMONT CORP | 6.3% | -0.34 pp | $21.6M |
| AEMAGNICO EAGLE MINES LTD | 6.2% | -1.18 pp | $21.5M |
| EQTEQT CORP | 6.2% | -0.53 pp | $21.4M |
| MCKMCKESSON CORP | 6.0% | -0.24 pp | $20.6M |
| BRK-BBERKSHIRE HATHAWAY INC DEL | 5.6% | +0.74 pp | $19.3M |
| MCHPMICROCHIP TECHNOLOGY INC. | 5.4% | +1.91 pp | $18.5M |
| AAPLAPPLE INC | 5.2% | +1.03 pp | $18.0M |
| URIUNITED RENTALS INC | 5.1% | +2.15 pp | $17.8M |
| RGLDROYAL GOLD INC | 5.1% | -0.80 pp | $17.6M |
| WABWABTEC | 4.9% | +0.78 pp | $17.0M |
| BGCBGC GROUP INC | 4.5% | +0.76 pp | $15.5M |
| NMIHNMI HLDGS INC | 4.4% | +0.77 pp | $15.1M |
| SLBSLB LIMITED | 4.4% | +0.00 pp | $15.1M |
| MSFTMICROSOFT CORP | 3.5% | +0.33 pp | $12.2M |
| ICLRICON PUB LTD CO | 3.3% | +1.42 pp | $11.5M |
| LYBLYONDELLBASELL INDUSTRIES NV | 2.9% | -1.10 pp | $9.9M |
| CECELANESE CORP DEL | 2.8% | -0.83 pp | $9.8M |
| EQXEQUINOX GOLD CORP | 1.5% | -0.51 pp | $5.1M |
| TRVTRAVELERS COMPANIES INC | 0.6% | +0.13 pp | $2.2M |
| GEVGE VERNOVA INC | 0.5% | +0.16 pp | $1.7M |
| EPDENTERPRISE PRODS PARTNERS L | 0.3% | +0.02 pp | $914K |
| RUSHBRUSH ENTERPRISES INC | 0.2% | +0.05 pp | $719K |
What Muhlenkamp bought and sold in Q1 2026, against Q4 2025.
New positions
- FRDM Ea Series Trust3.4% of 13F
- XOM Exxon Mobil Corp0.1% of 13F
Added to
No position grew by more than 5%.
Reduced
- MTZ Mastec Inc-59.5% shares
- NMIH Nmi Holdings Inc.-21.7% shares
- NEM Newmont Corp-18.7% shares
- BGC Bgc Group Inc Cl A-17.9% shares
- AMLP Alps ETF Tr-14.6% shares
- RUSHA Rush Enterprises Class A (RUSH-11.6% shares
- EQT EQT Corp-11.1% shares
- ICLR Icon PLC-10.6% shares
Sold out
- GTLS Chart Inds Incwas 0.4%
Share counts compared with the Q4 2025 13F; a split also changes share counts.
How the holdings did against the S&P 500.
- 1 year
- +28.7% /yr
- S&P 500 +20.1%
- 3 years
- +17.5% /yr
- S&P 500 +20.4%
- 5 years
- +14.1% /yr
- S&P 500 +11.2%
A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.
Questions about Muhlenkamp's portfolio
What stocks does Muhlenkamp own?
Muhlenkamp & Co Inc's latest 13F, for Q1 2026 and filed May 6, 2026, lists 29 positions worth $379.8M. The largest are Agnico Eagle Mines Ltd (AEM) at 7.4%, EQT Corp (EQT) at 6.7%, Newmont Corp (NEM) at 6.6%, Mckesson Corp Com (MCK) at 6.2% and Royal Gold Inc (RGLD) at 5.9%.
What did Muhlenkamp buy last quarter?
In Q1 2026, Muhlenkamp & Co Inc added a new position in Ea Series Trust (FRDM) and a new position in Exxon Mobil Corp (XOM), compared with its Q4 2025 filing.
What did Muhlenkamp sell last quarter?
In Q1 2026, Muhlenkamp & Co Inc sold all of Chart Inds Inc (GTLS), Mastec Inc (MTZ) (-59.5% shares), Nmi Holdings Inc. (NMIH) (-21.7% shares) and Newmont Corp (NEM) (-18.7% shares), compared with its Q4 2025 filing.
How has Muhlenkamp's portfolio performed?
A portfolio copying Muhlenkamp & Co Inc's 20 largest 13F holdings each quarter, from the day each filing was public, returned +17.5% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +28.7% against +20.1%. Over 5 years: +14.1% a year against +11.2%.
When is Muhlenkamp & Co Inc's next 13F filing due?
13F filings are due 45 days after each quarter ends. Muhlenkamp & Co Inc's filing for the quarter ending Jun 30, 2026 was due by Aug 14, 2026; this page updates once it is processed.
How much money does Muhlenkamp & Co Inc manage?
Muhlenkamp & Co Inc reported $435.8M of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $379.8M.