Muhlenkamp

Q2 2013 13F · by Ronald Muhlenkamp, portfolio manager

As of: Jun 30, 2013
Filed: Aug 19, 2013
US stock: $480M
Positions: 59
Options notional: $0
Documents: 1· no amendments

Picture98.8% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 98.8%
Foreign stock not listed in the US 1.2%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves

First filing on record. Nothing to compare against.

The book

Focused · behaves like 31 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Turnover · first filing on record

Low
Moderate
High

Top 5 positions25% of US stock

Positions59 in this filing · 0 exited


BFHBread Financial Holdings, Inc.	6.69%	177,410	$32M	held	—	new
JPMJPMorgan Chase & Co.	4.91%	446,555	$24M	held	—	new
MSFTMicrosoft Corp	4.68%	650,435	$22M	held	—	new
PMPhilip Morris International Inc.	4.40%	243,942	$21M	held	—	new
STTState Street Corporation	4.35%	319,953	$21M	held	—	new
SAHSonic Automotive, Inc.	4.31%	977,620	$21M	held	—	new
unresolvedWestport Innovations Inc US	4.23%	605,727	$20M	held	—	new
HALHalliburton Company	3.80%	437,375	$18M	held	—	new
CELGCelgene Corp	3.48%	142,885	$17M	held	—	new
AIGAmerican International Group, Inc.	3.43%	368,455	$16M	held	—	new
ORCLOracle Corp	3.39%	529,303	$16M	held	—	new
CCitigroup Inc.	3.32%	331,750	$16M	held	—	new
GMGeneral Motors Company	3.17%	457,050	$15M	held	—	new
unresolvedRex Energy Corporation	3.01%	821,510	$14M	held	—	new
unresolvedGeneral Electric Co	2.91%	602,445	$14M	held	—	new
MYGNMyriad Genetics Inc	2.70%	481,900	$13M	held	—	new
BRK.BBERKSHIRE HATHAWAY Class B	2.64%	113,200	$13M	held	—	new
LNCLincoln National Corp.	2.32%	304,695	$11M	held	—	new
unresolvedCovidien PLC	2.28%	174,170	$11M	held	—	new
DCHDauch Corporation	2.12%	546,550	$10M	held	—	new
ALGTAllegiant Travel Company	2.05%	92,760	$10M	held	—	new
GILDGilead Sciences Inc	1.99%	186,525	$10M	held	—	new
RUSHARush Enterprises Inc	1.99%	385,002	$10M	held	—	new
unresolvedEzchip Semiconductor Limited	1.81%	321,205	$9M	held	—	new
ABGAsbury Automotive Group, Inc.	1.79%	213,740	$9M	held	—	new
GLWCorning Incorporated	1.75%	590,827	$8M	held	—	new
AAPLApple Inc.	1.52%	18,379	$7M	held	—	new
TEVATeva Pharmaceutical Industries Limited	1.39%	169,660	$7M	held	—	new
unresolvedDirectv	1.29%	100,400	$6M	held	—	new
CLNEClean Energy Fuels Corp.	1.24%	450,785	$6M	held	—	new
OLEDUniversal Display Corp	1.20%	205,285	$6M	held	—	new
INTCIntel Corp	0.99%	196,800	$5M	held	—	new
CRUSCirrus Logic Inc	0.76%	210,600	$4M	held	—	new
CYCypress Semiconductor	0.72%	319,867	$3M	held	—	new
LSCCLattice Semiconductor Corp	0.68%	640,270	$3M	held	—	new
unresolvedCall Morgan Stanley $17 Exp 01	0.66%	4,000	$3M	held	—	new
IAInnovative Solutions & Support	0.54%	401,919	$3M	held	—	new
PHMPultegroup, Inc.	0.53%	133,400	$3M	held	—	new
unresolvedC&J Energy Svcs Inc	0.43%	106,775	$2M	held	—	new
HN9Hanesbrands Inc	0.43%	40,365	$2M	held	—	new
SAVEQSpirit Airlines, Inc.	0.40%	60,415	$2M	held	—	new
DFSDiscover Financial Services	0.36%	36,210	$2M	held	—	new
RUSHBRush Enterprises Inc	0.35%	78,107	$2M	held	—	new
GMEDGlobus Medical Inc	0.34%	96,150	$2M	held	—	new
unresolvedCall Microsoft Corp $28 Exp 01	0.32%	2,012	$2M	held	—	new
DALDelta Air Lines, Inc.	0.30%	77,485	$1M	held	—	new
unresolvedFuel Sys Solutions Inc Com	0.30%	80,833	$1M	held	—	new
APCAnadarko Petroleum Corp	0.28%	15,690	$1M	held	—	new
CSCOCisco Systems, Inc. (DE)	0.25%	48,869	$1M	held	—	new
ISRGIntuitive Surgical Inc.	0.24%	2,308	$1M	held	—	new
PFEPfizer Inc.	0.21%	36,364	$1M	held	—	new
unresolvedCall American Capital Ltd 12 E	0.20%	4,020	$953,000	held	—	new
IBMInternational Business Machines Corporation	0.20%	5,030	$961,000	held	—	new
unresolvedIshares Inc Msci Taiwan	0.19%	68,155	$906,000	held	—	new
unresolvedBellatrix Exploration Ltd	0.07%	57,935	$352,000	held	—	new
MSMorgan Stanley	0.06%	11,260	$275,000	held	—	new
EMGAEmagin Corporation	0.05%	64,105	$228,000	held	—	new
APGIAmerican Power Group Corp	0.01%	43,485	$27,000	held	—	new
unresolvedNupathe Inc Com	0.01%	11,000	$34,000	held	—	new