Muhlenkamp & Co. Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 24, 2025), Muhlenkamp & Co. Inc. reported 26 stock positions worth $320.5 million. Its top holding was Eqt (EQT) at 8.2% of the portfolio, followed by McKesson (MCK, 6.2%) and Nmi (NMIH, 6.1%). Compared with Q1 2025, it opened 1 new position, sold out of 1, added to 20 and reduced 2. The biggest buy was Microchip Technology (MCHP, shares +81%) and the biggest sale an exit from Unitedhealth (UNH).
- Most Recent 13F
- Q2 2026
- Location
- WEXFORD, PA
- CIK
- 0001133219
- Portfolio Value
- $320.5M (Q2 2025)
- SEC Filing
- 0001133219-25-000005 ↗ filed Jul 24, 2025
Holdings Value
Holdings 26 stocks · $320.5M
| EQT Eqt Corp. | 8.21% | 451,015 | $26.3M | Add +0.2% |
| MCK McKesson Corp. | 6.19% | 27,084 | $19.8M | Reduce -29.8% |
| NMIH Nmi Holdings Inc. filed as NMI HLDGS INC | 6.13% | 465,854 | $19.7M | Add +0.6% |
| RUSHA Rush Enterprises Inc. Class A | 6.01% | 373,783 | $19.3M | Add +0.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 5.81% | 38,351 | $18.6M | Add +0.6% |
| MTZ Mastec Inc. | 5.64% | 106,084 | $18.1M | Add +0.6% |
| AEM Agnico Eagle Mines Ltd. | 5.61% | 151,287 | $18.0M | Add +0.0% |
| BGC BGC Group Inc. Class A | 5.59% | 1,749,838 | $17.9M | Add +0.9% |
| NEM Newmont Corp. | 5.16% | 283,860 | $16.5M | Add +0.1% |
| MSFT Microsoft Corp. | 5.01% | 32,311 | $16.1M | Add +0.2% |
| RGLD Royal Gold Inc. | 4.86% | 87,526 | $15.6M | Add +0.1% |
| MCHP Microchip Technology Inc. | 4.42% | 201,491 | $14.2M | Add +81.4% |
| WAB Wabtec Corp. | 4.11% | 62,944 | $13.2M | Add +0.9% |
| AAPL Apple Inc. | 4.01% | 62,616 | $12.8M | Add +0.3% |
| URI United Rentals Inc. | 3.65% | 15,527 | $11.7M | Add +1.0% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 3.37% | 319,166 | $10.8M | Add +1.1% |
| TMHC Taylor Morrison Home Corp. | 3.01% | 157,082 | $9.6M | Add +1.2% |
| AMLP Alerian MLP ETF | 2.69% | 176,712 | $8.6M | Add +0.0% |
| CE Celanese Corp. | 2.61% | 151,208 | $8.4M | New |
| GLD SPDR Gold Shares | 2.12% | 22,306 | $6.8M | Reduce -0.1% |
| JD Jd.com Inc.-ADR | 2.08% | 203,896 | $6.7M | Add +0.0% |
| DOW Dow Inc. | 1.89% | 229,069 | $6.1M | Add +1.7% |
| RIG Transocean Ltd. | 0.86% | 1,058,760 | $2.7M | Add +3.3% |
| TRV The Travelers Cos Inc. | 0.56% | 6,648 | $1.8M | No change |
| EPD Enterprise Products Partners | 0.24% | 24,855 | $771K | No change |
| RUSHB Rush Enterprises Inc. Class B | 0.16% | 9,501 | $499K | No change |
Portfolio Sells Q1 2025 → Q2 2025
Portfolio Buys Q1 2025 → Q2 2025
| MCHP Microchip Technology Inc. | Add +81.4% | 4.42% | +2.67 |
| CE Celanese Corp. | New | 2.61% | +2.61 |
| MTZ Mastec Inc. | Add +0.6% | 5.64% | +1.61 |
| MSFT Microsoft Corp. | Add +0.2% | 5.01% | +1.06 |
| NEM Newmont Corp. | Add +0.1% | 5.16% | +0.68 |
| NMIH Nmi Holdings Inc. | Add +0.6% | 6.13% | +0.67 |
| URI United Rentals Inc. | Add +1.0% | 3.65% | +0.50 |
| WAB Wabtec Corp. | Add +0.9% | 4.11% | +0.41 |
| BGC BGC Group Inc. Class A | Add +0.9% | 5.59% | +0.38 |
| EQT Eqt Corp. | Add +0.2% | 8.21% | +0.34 |
| AEM Agnico Eagle Mines Ltd. | Add +0.0% | 5.61% | +0.25 |
| RGLD Royal Gold Inc. | Add +0.1% | 4.86% | +0.18 |
| TMHC Taylor Morrison Home Corp. | Add +1.2% | 3.01% | −0.04 |
| RIG Transocean Ltd. | Add +3.3% | 0.86% | −0.21 |
| AMLP Alerian MLP ETF | Add +0.0% | 2.69% | −0.31 |
| RUSHA Rush Enterprises Inc. Class A | Add +0.6% | 6.01% | −0.48 |
| AAPL Apple Inc. | Add +0.3% | 4.01% | −0.53 |
| JD Jd.com Inc.-ADR | Add +0.0% | 2.08% | −0.67 |
| DOW Dow Inc. | Add +1.7% | 1.89% | −0.68 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.6% | 5.81% | −0.83 |
| SLB SLB Ltd. | Add +1.1% | 3.37% | −0.95 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 28 | $345.3M | RUSHA, NEM, AEM, EQT, MCK |
| Q1 2026 | 29 | $379.8M | AEM, EQT, NEM, MCK, RGLD |
| Q4 2025 | 28 | $371.8M | NEM, AEM, EQT, MTZ, MCK |
| Q3 2025 | 31 | $367.9M | AEM, EQT, NEM, MTZ, MCK |
| Q2 2025 | 26 | $320.5M | EQT, MCK, NMIH, RUSHA, BRK.B |
| Q1 2025 | 26 | $305.6M | MCK, EQT, BRK.B, RUSHA, NMIH |
| Q4 2024 | 30 | $329.5M | MCK, EQT, RUSHA, BRK.B, NMIH |
| Q3 2024 | 28 | $326.3M | RUSHA, NMIH, MCK, BRK.B, EQT |
| Q2 2024 | 29 | $320.4M | MCK, EQT, NMIH, RUSHA, BRK.B |
| Q1 2024 | 29 | $344.3M | AVGO, MCK, RUSHA, SLB, EQT |