
	Ronald Muhlenkamp 13F
	Muhlenkamp & Co Inc

	Last update 2025-05-13	26 Stocks (1 new)
	Value $306.00 Mil	Turnover 2 %
	Countries: Top Holdings: MCK(8.50%)EQT(7.87%)BRK.B(6.65%)RUSHA(6.49%)NMIH(5.46%) SEC Filings Portfolio Report

Ronald Muhlenkamp Profile

Ronald H. Muhlenkamp is the founder and president of Muhlenkamp & Company, Inc., and portfolio manager for the company's self-named mutual fund (MUHLX). Muhlenkamp is a patient value investor. The stocks in his portfolio stay an average of 10 years.

Ronald Muhlenkamp Investing Philosophy

He is a value guru who believes that over time, stock prices do reflect the values of the underlying businesses. When picking stocks, he looks for companies with solid balance sheets, and a return on equity capital (ROE) of 15% or better. Although his methods change with inflation and interest rates, he currently looks for companies with a P/E ratio lower than the companies' ROE and expected growth rates. He focuses on the long-term "Business of Investing" because he thinks that it is more profitable and more reliable. As a long-term investor, his "normal" position is to be 100% invested in corporate stocks.

Ronald Muhlenkamp's Portfolio

Ronald Muhlenkamp Current Holdings

Ticker
Ticker
TRV
JD
GLD
AMLP
MSFT
NEM
RGLD
AEM
SLB
RIG
RUSHB
BGC
MTZ
URI
TMHC
DOW
BRK.B
RUSHA
WAB
MCK

Ticker	Company	Shares	Value ($1000)	Shares Change %	Weighting %	Trade Impact %	% of Shares outstanding	3M Change %	YTD Change %	Market Cap $Mil	Industry
Ticker	Company	Shares	Value ($1000)	Shares Change %	Weighting %	Trade Impact %	% of Shares outstanding	3M Change %	YTD Change %	Market Cap $Mil	Industry
TRV	The Travelers Companies Inc	6,648	1,758.1	New Holding	0.580	+0.58%	0.000	+8.84%	+7.31%	58,090.0	Insurance
JD	JD.com Inc	203,832	8,381.6	+110.36%	2.740	+1.44%	0.010	-0.97%	-2.90%	47,137.1	Retail - Cyclical
GLD	SPDR Gold Shares ETF	22,328	6,433.7	+1.10%	2.100	+0.02%	0.010	+10.52%	+25.62%	101,317.1
AMLP	Alerian MLP ETF	176,704	9,178.0	+0.91%	3.000	+0.03%	0.080	+8.32%	+1.37%	10,440.5
MSFT	Microsoft Corp	32,241	12,102.8	+0.63%	3.960	+0.02%	0.000	+40.32%	+18.28%	3,691,149.9	Software
NEM	Newmont Corp	283,723	13,698.1	+0.57%	4.480	+0.03%	0.030	+28.74%	+56.43%	64,119.8	Metals & Mining
RGLD	Royal Gold Inc	87,460	14,300.6	+0.55%	4.680	+0.03%	0.130	+3.31%	+22.57%	10,545.8	Metals & Mining
AEM	Agnico Eagle Mines Ltd	151,252	16,397.2	+0.48%	5.360	+0.03%	0.030	+16.38%	+49.63%	58,830.3	Metals & Mining
SLB	Schlumberger Ltd	315,817	13,201.2	0%	4.320	0%	0.020	+15.33%	-3.22%	49,364.1	Oil & Gas
RIG	Transocean Ltd	1,024,638	3,248.1	0%	1.060	0%	0.120	+33.79%	-21.87%	2,588.0	Oil & Gas
RUSHB	Rush Enterprises Inc	9,501	537.0	0%	0.180	0%	0.010	+0.56%	-1.10%	4,134.3	Vehicles & Parts
BGC	BGC Group Inc	1,734,299	15,903.5	-0.03%	5.200	0%	0.360	+35.55%	+16.94%	5,150.2	Capital Markets
MTZ	MasTec Inc	105,459	12,308.1	-0.04%	4.030	0%	0.130	+57.50%	+23.58%	13,274.6	Construction
URI	United Rentals Inc	15,368	9,630.9	-0.05%	3.150	0%	0.020	+43.76%	+12.90%	51,445.4	Business Services
TMHC	Taylor Morrison Home Corp	155,206	9,318.6	-0.05%	3.050	0%	0.150	+16.00%	+2.21%	6,279.0	Homebuilding & Construction
DOW	Dow Inc	225,265	7,866.3	-0.05%	2.570	0%	0.030	+15.40%	-24.40%	20,541.4	Chemicals
BRK.B	Berkshire Hathaway Inc	38,138	20,311.8	-0.09%	6.650	0%	0.000	-3.08%	+5.34%	1,029,554.6	Insurance
RUSHA	Rush Enterprises Inc	371,481	19,840.8	-0.13%	6.490	-0.01%	0.480	+7.95%	-2.55%	4,134.3	Vehicles & Parts
WAB	Westinghouse Air Brake Technologies Corp Westinghouse Air Brake Technologies Corp	62,374	11,311.5	-0.18%	3.700	-0.01%	0.040	+32.35%	+11.99%	36,241.1	Transportation
MCK	McKesson Corp	38,589	25,970.1	-0.19%	8.500	-0.01%	0.030	+11.03%	+27.32%	90,444.0	Medical Distribution

100/Page

Total 31

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