Muhlenkamp & Co. Inc.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 6, 2026), Muhlenkamp & Co. Inc. reported 29 stock positions worth $379.8 million. Its top holding was Agnico Eagle Mines (AEM) at 7.4% of the portfolio, followed by Eqt (EQT, 6.7%) and Newmont (NEM, 6.6%). Compared with Q4 2025, it opened 2 new positions, sold out of 1, added to 5 and reduced 18. The biggest buy was a new position in Freedom 100 Emeging MRKT ETF (FRDM) and the biggest sale Mastec (MTZ, shares −60%).
- Most Recent 13F
- Q2 2026
- Location
- WEXFORD, PA
- CIK
- 0001133219
- Portfolio Value
- $379.8M (Q1 2026)
- SEC Filing
- 0001133219-26-000002 ↗ filed May 6, 2026
Holdings Value
Holdings 29 stocks · $379.8M
| AEM Agnico Eagle Mines Ltd. | 7.41% | 138,588 | $28.1M | Reduce -8.4% |
| EQT Eqt Corp. | 6.72% | 401,242 | $25.5M | Reduce -11.1% |
| NEM Newmont Corp. | 6.59% | 231,182 | $25.0M | Reduce -18.7% |
| MCK McKesson Corp. | 6.19% | 27,169 | $23.5M | Reduce -0.1% |
| RGLD Royal Gold Inc. | 5.89% | 87,892 | $22.4M | Reduce -0.0% |
| RUSHA Rush Enterprises Inc. Class A | 5.78% | 331,905 | $21.9M | Reduce -11.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 4.84% | 38,351 | $18.4M | Reduce -0.2% |
| SLB SLB Ltd. filed as SLB LIMITED | 4.36% | 322,171 | $16.6M | Add +0.0% |
| AAPL Apple Inc. | 4.18% | 62,559 | $15.9M | Reduce -0.5% |
| WAB Wabtec Corp. | 4.16% | 63,155 | $15.8M | Reduce -0.2% |
| LYB Lyondellbasell Indu Class A | 3.97% | 187,159 | $15.1M | Add +0.7% |
| BGC BGC Group Inc. Class A | 3.72% | 1,443,941 | $14.1M | Reduce -17.9% |
| CE Celanese Corp. | 3.65% | 210,800 | $13.9M | Add +0.7% |
| MTZ Mastec Inc. | 3.63% | 42,832 | $13.8M | Reduce -59.5% |
| NMIH Nmi Holdings Inc. filed as NMI HLDGS INC | 3.62% | 366,219 | $13.7M | Reduce -21.7% |
| MCHP Microchip Technology Inc. | 3.45% | 202,985 | $13.1M | No change |
| FRDM Freedom 100 Emeging MRKT ETF | 3.41% | 236,825 | $12.9M | New |
| MSFT Microsoft Corp. | 3.21% | 32,937 | $12.2M | Reduce -0.2% |
| URI United Rentals Inc. | 2.99% | 15,603 | $11.4M | Reduce -0.0% |
| GLD SPDR Gold Shares | 2.50% | 22,083 | $9.5M | Reduce -1.0% |
| TMHC Taylor Morrison Home Corp. | 2.43% | 158,606 | $9.2M | Add +0.0% |
| AMLP Alerian MLP ETF | 2.09% | 150,615 | $7.9M | Reduce -14.6% |
| EQX Equinox Gold Corp. | 1.98% | 519,219 | $7.5M | Add +0.2% |
| ICLR Icon PLC | 1.92% | 66,005 | $7.3M | Reduce -10.6% |
| TRV The Travelers Cos Inc. | 0.51% | 6,627 | $1.9M | No change |
| GEV GE Vernova Inc. | 0.33% | 1,426 | $1.2M | No change |
| EPD Enterprise Products Partners | 0.25% | 24,855 | $941K | No change |
| RUSHB Rush Enterprises Inc. Class B | 0.16% | 9,454 | $608K | Reduce -0.5% |
| XOM Exxon Mobil Corp. | 0.07% | 1,640 | $278K | New |
Portfolio Sells Q4 2025 → Q1 2026
| MTZ Mastec Inc. | Reduce -59.5% | 3.63% | −2.55 |
| ICLR Icon PLC | Reduce -10.6% | 1.92% | −1.70 |
| NMIH Nmi Holdings Inc. | Reduce -21.7% | 3.62% | −1.51 |
| MSFT Microsoft Corp. | Reduce -0.2% | 3.21% | −1.08 |
| NEM Newmont Corp. | Reduce -18.7% | 6.59% | −1.05 |
| BGC BGC Group Inc. Class A | Reduce -17.9% | 3.72% | −0.51 |
| GTLS Chart Industries Inc. | Sold out | 0.00% | −0.44 |
| AAPL Apple Inc. | Reduce -0.5% | 4.18% | −0.41 |
| URI United Rentals Inc. | Reduce -0.0% | 2.99% | −0.40 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.2% | 4.84% | −0.35 |
| AMLP Alerian MLP ETF | Reduce -14.6% | 2.09% | −0.14 |
| RUSHB Rush Enterprises Inc. Class B | Reduce -0.5% | 0.16% | +0.02 |
| GLD SPDR Gold Shares | Reduce -1.0% | 2.50% | +0.13 |
| MCK McKesson Corp. | Reduce -0.1% | 6.19% | +0.19 |
| EQT Eqt Corp. | Reduce -11.1% | 6.72% | +0.22 |
| RUSHA Rush Enterprises Inc. Class A | Reduce -11.6% | 5.78% | +0.33 |
| AEM Agnico Eagle Mines Ltd. | Reduce -8.4% | 7.41% | +0.51 |
| WAB Wabtec Corp. | Reduce -0.2% | 4.16% | +0.52 |
| RGLD Royal Gold Inc. | Reduce -0.0% | 5.89% | +0.63 |
Portfolio Buys Q4 2025 → Q1 2026
| FRDM Freedom 100 Emeging MRKT ETF | New | 3.41% | +3.41 |
| LYB Lyondellbasell Indu Class A | Add +0.7% | 3.97% | +1.81 |
| CE Celanese Corp. | Add +0.7% | 3.65% | +1.27 |
| SLB SLB Ltd. | Add +0.0% | 4.36% | +1.04 |
| XOM Exxon Mobil Corp. | New | 0.07% | +0.07 |
| EQX Equinox Gold Corp. | Add +0.2% | 1.98% | +0.02 |
| TMHC Taylor Morrison Home Corp. | Add +0.0% | 2.43% | −0.08 |
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 |