Muhlenkamp
Picture
Moves
Options: 8 moves on a notional base, in the table below.
The book
- Very concentrated
- Concentrated
- Focused
- Diversified
- Low
- Moderate
- High
Top 5 positions
- added+0.42
- added+1.29
- trimmed+1.76
- added+0.99
- trimmed+0.33
Positions
| BFHBread Financial Holdings, Inc. | 10.99% | 121,321 | $27M | added0% | +0.42 pp | 12 q |
| GILDGilead Sciences Inc | 8.24% | 217,990 | $20M | added0% | +1.29 pp | 12 q |
| AAPLApple Inc. | 6.78% | 151,204 | $16M | trimmed−0% | +1.76 pp | 12 q |
| BMYBristol-Myers Squibb Co. | 5.58% | 212,200 | $14M | added0% | +0.99 pp | 9 q |
| MSFTMicrosoft Corp | 5.38% | 236,663 | $13M | trimmed−18% | +0.33 pp | 12 q |
| ONON Semiconductor Corp | 5.01% | 1,268,990 | $12M | added0% | +1.09 pp | 7 q |
| HN9Hanesbrands Inc | 4.68% | 401,470 | $11M | added0% | +0.96 pp | 12 q |
| TEVATeva Pharmaceutical Industries Limited | 3.90% | 177,160 | $9M | added0% | +0.24 pp | 12 q |
| ALGTAllegiant Travel Company | 3.85% | 52,476 | $9M | added0% | +1.08 pp | 12 q |
| SAVEQSpirit Airlines, Inc. | 3.82% | 193,315 | $9M | added0% | +1.39 pp | 12 q |
| CECelanese Corporation | 3.38% | 125,270 | $8M | trimmed−53% | −2.32 pp | 6 q |
| UNHUNITEDHEALTH GROUP INCORPORATED (Delaware) | 3.21% | 60,480 | $8M | new | +3.21 pp | new |
| unresolvedNeustar Inc | 3.13% | 309,390 | $8M | added0% | +0.80 pp | 8 q |
| LN5Lannett Co Inc | 3.00% | 406,600 | $7M | new | +3.00 pp | new |
| RUSHARush Enterprises Inc | 2.89% | 385,002 | $7M | held | — | 12 q |
| unresolvedWCI Communities Inc. | 2.76% | 360,324 | $7M | added0% | +0.24 pp | 11 q |
| DALDelta Air Lines, Inc. | 2.69% | 134,250 | $7M | trimmed−49% | −1.55 pp | 12 q |
| PKWInvesco BuyBack Achievers ETF | 2.62% | 140,670 | $6M | added0% | +0.61 pp | 7 q |
| BIIBBiogen Inc. | 2.56% | 23,853 | $6M | new | +2.56 pp | new |
| unresolvedBaker Hughes Inc. | 2.00% | 110,965 | $5M | trimmed−0% | +0.38 pp | 5 q |
| SLBSLB Limited | 1.83% | 60,310 | $4M | added+1% | +0.52 pp | 3 q |
| OLEDUniversal Display Corp | 1.68% | 75,575 | $4M | trimmed−40% | −0.50 pp | 12 q |
| unresolvedGolar Lng Partners LP | 1.63% | 269,095 | $4M | new | +1.63 pp | new |
| HALHalliburton Company | 1.47% | 100,000 | $4M | held | — | 12 q |
| NLYAnnaly Capital Management. Inc. | 1.11% | 261,655 | $3M | added+1% | +0.34 pp | 9 q |
| unresolvedGaslog Partners LP Unit Ltd Pt | 1.02% | 148,340 | $2M | added×5.7 | +0.90 pp | 3 q |
| DLNGDynagas Lng Parners LP | 0.95% | 202,265 | $2M | new | +0.95 pp | new |
| RUSHBRush Enterprises Inc | 0.72% | 95,557 | $2M | added+1% | +0.07 pp | 12 q |
| MGNXMacroGenics, Inc. | 0.52% | 67,245 | $1M | added+1% | −0.13 pp | 7 q |
| PFEPfizer Inc. | 0.47% | 38,409 | $1M | held | — | 12 q |
| unresolvedBoardwalk Pipeline Partners | 0.35% | 58,200 | $858,000 | held | — | 9 q |
| unresolvedBellatrix Exploration Ltd | 0.33% | 788,595 | $796,000 | trimmed−2% | +0.02 pp | 12 q |
| DSLDoubleline Income Solutions Fund | 0.23% | 33,720 | $567,000 | held | — | 7 q |
| unresolvedRex Energy Corporation | 0.22% | 683,479 | $525,000 | trimmed−9% | −0.03 pp | 12 q |
| Diana Shipping Incconvertible | 0.18% | 28,900 | $438,000 | added×2.3 | +0.12 pp | 7 q |
| DCHDauch Corporation | 0.14% | 22,600 | $348,000 | added×2.0 | +0.07 pp | 12 q |
| GLNGGolar LNG Ltd | 0.13% | 17,210 | $309,000 | new | +0.13 pp | new |
| ABAllianceBernstein Holding, L.P. | 0.11% | 11,550 | $271,000 | held | — | 7 q |
| KMIKinder Morgan, Inc. | 0.11% | 14,570 | $260,000 | held | — | 2 q |
| unresolvedAmerican Cap Ltd | 0.07% | 10,600 | $162,000 | added+2% | +0.02 pp | 7 q |
| DSPGDSP Group Inc | 0.07% | 19,055 | $174,000 | added+1% | +0.01 pp | 9 q |
| TNKTeekay Tankers Ltd. | 0.07% | 49,075 | $180,000 | added+4% | −0.03 pp | 6 q |
| unresolvedAffimed NV | 0.05% | 31,470 | $118,000 | added+16% | −0.01 pp | 3 q |
| unresolvedTeekay Offshore Partners L P | 0.03% | 14,915 | $85,000 | new | +0.03 pp | new |
| GTIMGood Times Restaurants Inc. | 0.02% | 10,220 | $41,000 | trimmed−27% | 0.00 pp | 2 q |
| unresolvedCelgene Corp-cvr | 0.01% | 15,810 | $18,000 | trimmed−10% | 0.00 pp | 4 q |
| QUIKQuickLogic Corp | 0.01% | 21,815 | $23,000 | trimmed−73% | −0.02 pp | 6 q |
| unresolvedFlyht Aerospace Soluti Com | 0.00% | 22,000 | $3,000 | held | — | 10 q |
| JPMJPMorgan Chase & Co. | — | −356,620 | — | exited | −7.42 pp | — |
| unresolvedArris Intl Inc | — | −493,075 | — | exited | −4.75 pp | — |
| MSMorgan Stanley | — | −320,475 | — | exited | −3.21 pp | — |
| AMLPAlerian MLP ETF | — | −831,070 | — | exited | −3.16 pp | — |
| unresolvedOuterwall Inc | — | −213,770 | — | exited | −2.46 pp | — |
| EPZMEpizyme, Inc | — | −50,000 | — | exited | −0.25 pp | — |
| unresolvedEnergy Transfer Prtnrs L P | — | −9,130 | — | exited | −0.10 pp | — |
| PHMPultegroup, Inc. | — | −14,550 | — | exited | −0.08 pp | — |
| WMBWilliams Companies Inc. | — | −8,365 | — | exited | −0.07 pp | — |
| ZIXIZix Corporation | — | −10,710 | — | exited | −0.02 pp | — |
| unresolvedSyneron Medical Ltd | — | −10,255 | — | exited | −0.02 pp | — |
Other 13(f) securities
Options
| Contract | % of notional | Shares | Notional |
|---|---|---|---|
| BIIB CALL | 37.91% | 3,000 | $781,000 |
| CSCO CALL | 26.26% | 19,000 | $541,000 |
| GILD CALL | 14.27% | 3,200 | $294,000 |
| PHM CALL | 11.80% | 13,000 | $243,000 |
| GM CALL | 9.76% | 6,400 | $201,000 |
Notes