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Ron Muhlenkamp Slices Apple, Halliburton - Sells Intel, Corning, Others

Sally Jones

Sally Jones

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As of the third quarter, the updated portfolio of Ronald Muhlenkamp and the Muhlenkamp Fund lists 57 stocks, 3 of them new, a total value at $503 million, and a quarter-over-quarter turnover of 5%. The portfolio is currently weighted with top three sectors: financial services at 23%, consumer cyclical at 19% and industrials at 16.7%. The stocks bought by Muhlenkamp averaged a return of 19.18% over 12 months.

Muhlenkamp’s highest impact sell out during the third quarter was Corning Inc., a long-time holding. Corning reported financial results for the third quarter of 2013 with net sales of $2.06 billion, up 1% over the same quarter a year ago at $2.03 billion. The company had a net income of $408 million, down 23% from $533 million in the third quarter a year ago. Earnings of $0.28 per share in the reporting quarter were also down 22% from $0.36 in the third quarter of 2012.



Corning Inc. (GLW): Sold Out

Impacts Portfolio: -1.8%

Up 52% over 12 months, Corning Inc., an electronic components company, has a market cap of $24.98 billion; its shares were traded at around $17.26 with a P/E ratio of 14.00. The dividend yield is 2.26%.

Guru Action: As of Sept. 30, 2013, Ronald Muhlenkamp sold out his holding, unloading 590,827 shares at an average price of $14.81 for a gain of 16.5%.

With five years of mixed results, the trading history shows 9 consecutive quarters of double-digit gains starting in the third quarter of 2011.

Check out the gurus trading GLW and very recent insider selling.

Track historical pricing, revenue and net income:





Halliburton Company (HAL): Reduced

Impacts Portfolio: -1.72%

Current Shares: 239,285

Up 70% over 12 months, Halliburton Company has a market cap of $46.23 billion; its shares were traded at around $54.50 with a P/E ratio of 25.00. The dividend yield is 0.85%.

Guru Action: As of Sept. 30, 2013, Ronald Muhlenkamp reduced his position by 45.29%, selling 198,090 shares at an average price of $46.84 per share, for a gain of 16.4%, the lowest point in the holding’s history.

Muhlenkamp has averaged a gain of 56% on 440,430 shares bought at an average price of $34.84 per share. On shares sold, Muhlenkamp averaged a gain of 17% on 201,145 shares sold at an average price of $46.65 per share.

Check out very active insider selling and eight new buys made by gurus.

Track historical pricing, revenue and net income:





Intel Corp. (INTC): Sold Out

Impacts Portfolio: -0.99%

Up 20% over 12 months, Intel Corp., the semiconductor giant, has a market cap of $118.66 billion; its shares were traded at around $23.87 with a P/E ratio of 12.90. The dividend yield is 3.77%.

Guru Action: As of Sept. 30, 2013, Muhlenkamp sold out his holding, selling 196,800 shares at an average price of $23.03 for a gain of 3.6%.

In five years of mixed results, with only four losing quarters, the trading history shows four consecutive quarters of gains starting in the fourth quarter of 2012. In that quarter Muhlenkamp sold 10,180 shares at an average price of $20.97, for a gain of 13.8%.

Here are more guru trades and very active insider selling.

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Apple Inc. (AAPL): Reduced

Impacts Portfolio: -0.4%

Current Shares: 13,495

Down 12% over 12 months, Apple Inc. has a market cap of $467.68 billion; its shares were traded at around $519.80 with a P/E ratio of 13.10. The dividend yield is 2.27%.

Guru Action: As of Sept. 30, 2013, Ronald Muhlenkamp reduced his position by 26.57%, selling 4,884 shares at an average price of $464.25 for a 12% gain.

Muhlenkamp has averaged a loss of 1% buying 18,402 shares at an average price of $524.02 per share. On shares sold, he averaged a 12% gain on 4,907 shares sold at an average price of $464.09 per share.

Find more guru trading and insider selling.

Track historical pricing, revenue and net income:



Founder and president of Muhlenkamp & Company Inc., Ronald H. Muhlenkamp is also the portfolio manager for the company's mutual fund, Muhlenkamp Fund (MUHLX).

Here is the complete portfolio of Ronald Muhlenkamp.



1. Ronald Muhlenkamp's Undervalued Stocks

2. Ronald Muhlenkamp's Top Growth Companies

3. Ronald Muhlenkamp's High Yield stocks

4. Stocks that Ronald Muhlenkamp keeps buying

Use the GuruFocus Value Screen to find 52-Week Lows and discover potentially deep value stocks held by billionaire Guru investors.

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About the author:

Sally Jones
Sally Jones writes about Real Time Picks. She says, "I truly enjoy watching the Gurus in realtime and telling their story."

Rating: 3.3/5 (3 votes)

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