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Ronald Muhlenkamp Buys AT&T Inc., State Street Corp., Abbott Laboratories, Sells Cemex S.a.b. De C.v., The Home Depot Inc., Legg Mason Inc.

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Ron Muhlenkamp’s fund recovered a lot of loss in 2007 and 2008. Now he is worried that the current government policies penalize employers and it is hard for investors to find companies that can thrive despite these penalties. This is the Q4 portfolio update of Muhlenkamp Fund.

Ronald Muhlenkamp owns 52 stocks with a total value of $737 million. These are the details of the buys and sells.

For the details of Ronald Muhlenkamp's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Ronald+Muhlenkamp

This is the sector weightings of his portfolio:

Health Care 24.1%
Technology 19.9%
Industrials 17.2%
Financials 16.6%
Consumer Goods 5.7%
Oil & Gas 5%
Basic Materials 4.2%
Telecommunications 3.8%
Consumer Services 3.5%


These are the top 5 holdings of Ronald Muhlenkamp

  1. PHILIP MORRIS INTERNATIONAL INC (PM) - 700,172 shares, 4.58% of the total portfolio
  2. UnitedHealth Group Inc. (UNH) - 1,089,604 shares, 4.51% of the total portfolio
  3. Pfizer Inc (PFE) - 1,711,638 shares, 4.23% of the total portfolio
  4. General Electric Company (GE) - 2,012,792 shares, 4.13% of the total portfolio
  5. Kinetic Concepts Inc. (KCI) - 763,882 shares, 3.9% of the total portfolio


Added: Aflac Inc. (AFL)

Ronald Muhlenkamp added to his holdings in Aflac Inc. by 204.31%. His purchase prices were between $40.58 and $47.14, with an estimated average price of $44.7. The impact to his portfolio due to this purchase was 2.32%. His holdings were 549,305 shares as of 12/31/2009.

AFLAC Inc. is a general business holding company and acts as a management company, overseeing the operations of its subsidiaries by providing management services and making capital available. Aflac Inc. has a market cap of $22.06 billion; its shares were traded at around $47.14 with a P/E ratio of 9.72 and P/S ratio of 1.21. The dividend yield of Aflac Inc. stocks is 2.38%. Aflac Inc. had an annual average earning growth of 17.3% over the past 10 years. GuruFocus rated Aflac Inc. the business predictability rank of 3.5-star.

Added: Corning Inc. (GLW)

Ronald Muhlenkamp added to his holdings in Corning Inc. by 405.86%. His purchase prices were between $14.52 and $19.34, with an estimated average price of $16.78. The impact to his portfolio due to this purchase was 2%. His holdings were 950,824 shares as of 12/31/2009.

Corning Incorporated creates leading-edge technologies for the fastest-growing markets of the world's economy. Corning Inc. has a market cap of $27.84 billion; its shares were traded at around $17.89 with a P/E ratio of 13.25 and P/S ratio of 5.16. The dividend yield of Corning Inc. stocks is 1.12%.

Added: Laboratory Corp. Of America Holdings (LH)

Ronald Muhlenkamp added to his holdings in Laboratory Corp. Of America Holdings by 58.08%. His purchase prices were between $64.35 and $76.45, with an estimated average price of $72.31. The impact to his portfolio due to this purchase was 1.23%. His holdings were 330,660 shares as of 12/31/2009.

Laboratory Corporation of America Holdings, is one of the largest independent clinical laboratory company's in the United States. Laboratory Corp. Of America Holdings has a market cap of $7.62 billion; its shares were traded at around $71.76 with a P/E ratio of 14.64 and P/S ratio of 1.62. Laboratory Corp. Of America Holdings had an annual average earning growth of 10.3% over the past 10 years.

New Purchase: At&t Inc. (T)

Ronald Muhlenkamp initiated holdings in At&t Inc.. His purchase prices were between $25.31 and $28.34, with an estimated average price of $26.77. The impact to his portfolio due to this purchase was 3.77%. His holdings were 991,490 shares as of 12/31/2009.

AT&T Inc. is a premier communications holding company. At&t Inc. has a market cap of $147.94 billion; its shares were traded at around $25.07 with a P/E ratio of 11.88 and P/S ratio of 1.2. The dividend yield of At&t Inc. stocks is 6.7%. At&t Inc. had an annual average earning growth of 12.7% over the past 5 years.

New Purchase: State Street Corp. (STT)

Ronald Muhlenkamp initiated holdings in State Street Corp.. His purchase prices were between $39.4 and $55.17, with an estimated average price of $43.64. The impact to his portfolio due to this purchase was 3.43%. His holdings were 579,820 shares as of 12/31/2009.

State Street Corporation is the world's specialist in providing sophisticated global investors with investment servicing, investment management, investment research and trading services. State Street Corp. has a market cap of $22.07 billion; its shares were traded at around $44.62 with a P/E ratio of 10.83 and P/S ratio of 2.39. The dividend yield of State Street Corp. stocks is 0.09%. State Street Corp. had an annual average earning growth of 12.6% over the past 10 years.

New Purchase: Abbott Laboratories (ABT)

Ronald Muhlenkamp initiated holdings in Abbott Laboratories. His purchase prices were between $49.84 and $54.54, with an estimated average price of $52.71. The impact to his portfolio due to this purchase was 3.35%. His holdings were 457,245 shares as of 12/31/2009.

Abbott Laboratories is a global, broad-based health care company devoted to discovering new medicines, new technologies and new ways to manage health. Abbott Laboratories has a market cap of $83.42 billion; its shares were traded at around $53.93 with a P/E ratio of 14.46 and P/S ratio of 2.71. The dividend yield of Abbott Laboratories stocks is 2.97%. Abbott Laboratories had an annual average earning growth of 4.4% over the past 10 years. GuruFocus rated Abbott Laboratories the business predictability rank of 3.5-star.

New Purchase: Alliant Techsystems Inc. (ATK)

Ronald Muhlenkamp initiated holdings in Alliant Techsystems Inc.. His purchase prices were between $74.74 and $90.6, with an estimated average price of $83.88. The impact to his portfolio due to this purchase was 3.32%. His holdings were 277,270 shares as of 12/31/2009.

ATK is an aerospace and defense company with market positions in munitions, smart weapons and precision capabilities, propulsion, and composite structures. Alliant Techsystems Inc. has a market cap of $2.53 billion; its shares were traded at around $76.97 with a P/E ratio of 8.66 and P/S ratio of 0.55. Alliant Techsystems Inc. had an annual average earning growth of 18.9% over the past 10 years. GuruFocus rated Alliant Techsystems Inc. the business predictability rank of 5-star.

New Purchase: Hewlettpackard Company (HPQ)

Ronald Muhlenkamp initiated holdings in Hewlettpackard Company. His purchase prices were between $45.28 and $52.93, with an estimated average price of $49.48. The impact to his portfolio due to this purchase was 3.16%. His holdings were 451,625 shares as of 12/31/2009.

Hewlett Packard is one of the global providers of computing and imaging solutions and services for business and home. Hewlettpackard Company has a market cap of $114.57 billion; its shares were traded at around $48.46 with a P/E ratio of 12.62 and P/S ratio of 1. The dividend yield of Hewlettpackard Company stocks is 0.66%. Hewlettpackard Company had an annual average earning growth of 25.8% over the past 5 years.

New Purchase: Aeropostale Inc. (ARO)

Ronald Muhlenkamp initiated holdings in Aeropostale Inc.. His purchase prices were between $28.95 and $44.05, with an estimated average price of $35.3. The impact to his portfolio due to this purchase was 2.36%. His holdings were 510,885 shares as of 12/31/2009.

Aeropostale, Inc. is a mall-based, specialty retailer of casual apparel and accessories, principally targeting fourteen to seventeen year-old young women and men. Aeropostale Inc. has a market cap of $2.3 billion; its shares were traded at around $34.81 with a P/E ratio of 11.64 and P/S ratio of 1.22. Aeropostale Inc. had an annual average earning growth of 27.4% over the past 5 years.

New Purchase: Sonic Automotive Inc. (SAH)

Ronald Muhlenkamp initiated holdings in Sonic Automotive Inc.. His purchase prices were between $8.54 and $13.04, with an estimated average price of $10. The impact to his portfolio due to this purchase was 0.29%. His holdings were 206,665 shares as of 12/31/2009.

Sonic Automotive Inc. is one of the largest automotive retailers in the United States. Sonic Automotive Inc. has a market cap of $487.41 million; its shares were traded at around $9.35 with a P/E ratio of 21.25 and P/S ratio of 0.08. Sonic Automotive Inc. had an annual average earning growth of 14.3% over the past 10 years.

New Purchase: Allegiant Travel Company (ALGT)

Ronald Muhlenkamp initiated holdings in Allegiant Travel Company. His purchase prices were between $35.53 and $48.84, with an estimated average price of $41.99. The impact to his portfolio due to this purchase was 0.26%. His holdings were 40,615 shares as of 12/31/2009.

Las Vegas-based ALLEGIANT TRAVEL COMPANY , is focused on linking travelers in small cities to world-class leisure destinations such as Las Vegas, Nev. Allegiant Travel Company has a market cap of $1.06 billion; its shares were traded at around $53.45 with a P/E ratio of 14.29 and P/S ratio of 1.9.

Reduced: Igate Corp. (IGTE)

Ronald Muhlenkamp reduced to his holdings in Igate Corp. by 22.12%. His sale prices were between $8.55 and $10.13, with an estimated average price of $9.44. The impact to his portfolio due to this sale was -0.03%. Ronald Muhlenkamp still held 105,600 shares as of 12/31/2009.

iGATE Corporation offers a comprehensive range of Information Technology solutions. Igate Corp. has a market cap of $490.33 million; its shares were traded at around $9.05 with a P/E ratio of 17.75 and P/S ratio of 2.54. The dividend yield of Igate Corp. stocks is 1.22%.

Reduced: The Goodyear Tire & Rubber Company (GT)

Ronald Muhlenkamp reduced to his holdings in The Goodyear Tire & Rubber Company by 39.25%. His sale prices were between $12.54 and $17.75, with an estimated average price of $14.69. The impact to his portfolio due to this sale was -0.18%. Ronald Muhlenkamp still held 240,745 shares as of 12/31/2009.

Goodyear is one of the world's largest tire companies. The Goodyear Tire & Rubber Company has a market cap of $3.22 billion; its shares were traded at around $13.28 with and P/S ratio of 0.17. The Goodyear Tire & Rubber Company had an annual average earning growth of 23.3% over the past 5 years.

Reduced: Consol Energy Inc. (CNX)

Ronald Muhlenkamp reduced to his holdings in Consol Energy Inc. by 29.3%. His sale prices were between $42.81 and $52.87, with an estimated average price of $47.06. The impact to his portfolio due to this sale was -0.94%. Ronald Muhlenkamp still held 476,615 shares as of 12/31/2009.

CONSOL Energy Inc. is the largest producer of high-Btu bituminous coal in the United States, and the largest exporter of U. Consol Energy Inc. has a market cap of $8.93 billion; its shares were traded at around $49.36 with a P/E ratio of 16.68 and P/S ratio of 1.93. The dividend yield of Consol Energy Inc. stocks is 0.81%. Consol Energy Inc. had an annual average earning growth of 28.5% over the past 5 years. GuruFocus rated Consol Energy Inc. the business predictability rank of 4-star.

Reduced: Oracle Corp. (ORCL)

Ronald Muhlenkamp reduced to his holdings in Oracle Corp. by 35.05%. His sale prices were between $20.34 and $25.01, with an estimated average price of $22.36. The impact to his portfolio due to this sale was -1.34%. Ronald Muhlenkamp still held 1,145,170 shares as of 12/31/2009.

Oracle Corporation is one of the world's suppliers of software for information management. Oracle Corp. has a market cap of $117.31 billion; its shares were traded at around $23.41 with a P/E ratio of 16.26 and P/S ratio of 5.05. The dividend yield of Oracle Corp. stocks is 0.85%. Oracle Corp. had an annual average earning growth of 18.2% over the past 10 years. GuruFocus rated Oracle Corp. the business predictability rank of 3-star.

Reduced: Bank Of America Corp. (BAC)

Ronald Muhlenkamp reduced to his holdings in Bank Of America Corp. by 48.07%. His sale prices were between $14.58 and $17.5, with an estimated average price of $15.79. The impact to his portfolio due to this sale was -1.61%. Ronald Muhlenkamp still held 1,632,804 shares as of 12/31/2009.

Bank of America Corp. is one of the world's financial services companies. Bank Of America Corp. has a market cap of $125 billion; its shares were traded at around $14.45 with and P/S ratio of 0.83. The dividend yield of Bank Of America Corp. stocks is 0.28%. Bank Of America Corp. had an annual average earning growth of 7.5% over the past 10 years.

Reduced: Cisco Systems Inc. (CSCO)

Ronald Muhlenkamp reduced to his holdings in Cisco Systems Inc. by 48.59%. His sale prices were between $22.67 and $24.25, with an estimated average price of $23.69. The impact to his portfolio due to this sale was -1.65%. Ronald Muhlenkamp still held 1,042,695 shares as of 12/31/2009.

Cisco Systems, Inc. is the worldwide leader in networking for the Internet. Cisco Systems Inc. has a market cap of $136.68 billion; its shares were traded at around $23.76 with a P/E ratio of 20.66 and P/S ratio of 3.78. Cisco Systems Inc. had an annual average earning growth of 17.1% over the past 10 years. GuruFocus rated Cisco Systems Inc. the business predictability rank of 3.5-star.

Sold Out: The Home Depot Inc. (HD)

Ronald Muhlenkamp sold out his holdings in The Home Depot Inc.. His sale prices were between $24.96 and $29.29, with an estimated average price of $27.33.

Home Depot is the one of world's largest home improvement retailer. The Home Depot Inc. has a market cap of $49.31 billion; its shares were traded at around $29 with a P/E ratio of 17.9 and P/S ratio of 0.69. The dividend yield of The Home Depot Inc. stocks is 3.1%. The Home Depot Inc. had an annual average earning growth of 19.5% over the past 10 years. GuruFocus rated The Home Depot Inc. the business predictability rank of 3.5-star.

Sold Out: Legg Mason Inc. (LM)

Ronald Muhlenkamp sold out his holdings in Legg Mason Inc.. His sale prices were between $27.11 and $32.63, with an estimated average price of $29.86.

Legg Mason, Inc. is a holding company which, through its subsidiaries, isprincipally engaged in providing asset management, securities brokerage,investment banking and related financial services to individuals,institutions, corporations and municipalities. Legg Mason Inc. has a market cap of $4.16 billion; its shares were traded at around $25.76 with and P/S ratio of 1.24. The dividend yield of Legg Mason Inc. stocks is 0.47%. Legg Mason Inc. had an annual average earning growth of 9.6% over the past 10 years.

Sold Out: Principal Financial Group Inc. (PFG)

Ronald Muhlenkamp sold out his holdings in Principal Financial Group Inc.. His sale prices were between $22.52 and $29.42, with an estimated average price of $25.66.

The Principal Financial Group is a provider of retirement savings, investment and insurance products and services. Principal Financial Group Inc. has a market cap of $7.03 billion; its shares were traded at around $22.04 with a P/E ratio of 8.22 and P/S ratio of 0.79. The dividend yield of Principal Financial Group Inc. stocks is 2.27%. Principal Financial Group Inc. had an annual average earning growth of 12.2% over the past 5 years.

Sold Out: Cemex S.a.b. De C.v. (CX)

Ronald Muhlenkamp sold out his holdings in Cemex S.a.b. De C.v.. His sale prices were between $10.33 and $13.54, with an estimated average price of $11.67.

CEMEX is one of the largest cement companies in the world, with close to 78 million metric tons of production capacity. Cemex S.a.b. De C.v. has a market cap of $9.13 billion; its shares were traded at around $9.52 with a P/E ratio of 14.42 and P/S ratio of 0.63.


Rating: 1.9/5 (11 votes)

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