Muhlenkamp
Picture
Moves
Options: 21 moves on a notional base, in the table below.
The book
- Very concentrated
- Concentrated
- Focused
- Diversified
- Low
- Moderate
- High
Top 5 positions
Positions
| BFHBread Financial Holdings, Inc. | 9.09% | 119,204 | $27M | trimmed−1% | −0.78 pp | 15 q |
| AAPLApple Inc. | 5.76% | 149,012 | $17M | trimmed−1% | −0.73 pp | 15 q |
| ONON Semiconductor Corp | 5.30% | 1,246,005 | $16M | trimmed−1% | −0.62 pp | 10 q |
| GILDGilead Sciences Inc | 5.09% | 212,995 | $15M | trimmed−1% | −1.40 pp | 15 q |
| MSFTMicrosoft Corp | 4.83% | 233,013 | $14M | trimmed−1% | −0.34 pp | 15 q |
| RUSHARush Enterprises Inc | 4.10% | 385,002 | $12M | held | — | 15 q |
| LN5Lannett Co Inc | 3.71% | 504,379 | $11M | added+86% | +0.96 pp | 4 q |
| SAVEQSpirit Airlines, Inc. | 3.52% | 182,585 | $11M | trimmed−5% | +0.41 pp | 15 q |
| BMYBristol-Myers Squibb Co. | 3.49% | 178,961 | $10M | trimmed−1% | −0.23 pp | 12 q |
| MCKMcKesson Corporation | 3.36% | 71,767 | $10M | added+57% | +0.44 pp | 3 q |
| HN9Hanesbrands Inc | 3.35% | 465,876 | $10M | added+17% | −0.48 pp | 15 q |
| CECelanese Corporation | 3.22% | 122,620 | $10M | trimmed−1% | +0.07 pp | 9 q |
| unresolvedWCI Communities Inc. | 3.18% | 406,805 | $10M | trimmed−1% | −0.55 pp | 14 q |
| UNHUNITEDHEALTH GROUP INCORPORATED (Delaware) | 3.16% | 59,095 | $9M | trimmed−1% | −0.04 pp | 4 q |
| GLDSPDR Gold Trust, SPDR Gold Shares | 3.12% | 85,445 | $9M | trimmed−1% | −1.05 pp | 3 q |
| TEVATeva Pharmaceutical Industries Limited | 2.90% | 239,889 | $9M | added+36% | −0.19 pp | 15 q |
| FHIFederated Hermes, Inc. | 2.83% | 299,866 | $8M | new | +2.83 pp | new |
| CELGCelgene Corp | 2.81% | 72,688 | $8M | trimmed−1% | −0.13 pp | 3 q |
| GMEGameStop Corp. Class A | 2.22% | 263,124 | $7M | new | +2.22 pp | new |
| BIIBBiogen Inc. | 2.20% | 23,279 | $7M | trimmed−1% | −0.61 pp | 4 q |
| DALDelta Air Lines, Inc. | 2.18% | 132,970 | $7M | trimmed−1% | +0.16 pp | 15 q |
| unresolvedGolar Lng Partners LP | 2.10% | 261,710 | $6M | trimmed−1% | +0.12 pp | 4 q |
| SLBSLB Limited | 2.07% | 73,771 | $6M | added+23% | +0.27 pp | 6 q |
| TCEHYTencent Hldgs UNSP/ | 2.02% | 249,971 | $6M | trimmed−1% | −0.67 pp | 2 q |
| CCJCameco Corporation | 1.93% | 551,392 | $6M | new | +1.93 pp | new |
| ALGTAllegiant Travel Company | 1.91% | 34,390 | $6M | added0% | +0.18 pp | 15 q |
| HALHalliburton Company | 1.80% | 100,000 | $5M | held | — | 15 q |
| OLEDUniversal Display Corp | 1.41% | 75,260 | $4M | trimmed−0% | −0.19 pp | 15 q |
| DLNGDynagas Lng Parners LP | 1.10% | 206,937 | $3M | added+4% | −0.07 pp | 4 q |
| RUSHBRush Enterprises Inc | 1.00% | 97,112 | $3M | trimmed−0% | +0.10 pp | 15 q |
| unresolvedGaslog Partners LP Unit Ltd Pt | 0.98% | 142,995 | $3M | trimmed−1% | −0.22 pp | 6 q |
| NLYAnnaly Capital Management. Inc. | 0.77% | 232,425 | $2M | trimmed−5% | −0.21 pp | 12 q |
| CYHCommunity Health Systems, Inc. | 0.69% | 372,415 | $2M | trimmed−1% | −0.97 pp | 3 q |
| PKWInvesco BuyBack Achievers ETF | 0.61% | 36,510 | $2M | trimmed−5% | −0.09 pp | 10 q |
| PFEPfizer Inc. | 0.37% | 33,984 | $1M | trimmed−6% | −0.10 pp | 15 q |
| unresolvedBoardwalk Pipeline Partners | 0.31% | 54,200 | $941,000 | added+4% | −0.03 pp | 12 q |
| unresolvedBellatrix Exploration Ltd | 0.19% | 598,265 | $565,000 | trimmed−14% | −0.04 pp | 15 q |
| Diana Shipping Incconvertible | 0.17% | 31,400 | $515,000 | added+9% | −0.02 pp | 10 q |
| DCHDauch Corporation | 0.16% | 24,200 | $467,000 | added+7% | +0.01 pp | 15 q |
| unresolvedEnergy Transfer Prtnrs L P | 0.14% | 11,440 | $410,000 | new | +0.14 pp | new |
| GLNGGolar LNG Ltd | 0.13% | 17,510 | $402,000 | added+2% | −0.01 pp | 4 q |
| KMIKinder Morgan, Inc. | 0.10% | 14,570 | $302,000 | held | — | 5 q |
| unresolvedRex Energy Corporation | 0.10% | 644,869 | $304,000 | trimmed−1% | −0.05 pp | 15 q |
| ABAllianceBernstein Holding, L.P. | 0.09% | 12,050 | $283,000 | added+4% | −0.01 pp | 10 q |
| MGNXMacroGenics, Inc. | 0.09% | 12,803 | $262,000 | added+5% | −0.05 pp | 10 q |
| MSMorgan Stanley | 0.09% | 6,505 | $275,000 | held | — | 2 q |
| LYBLyondellBasell Industries N.V. Class A | 0.07% | 2,600 | $223,000 | trimmed−13% | −0.02 pp | 3 q |
| unresolvedAmerican Cap Ltd | 0.06% | 10,600 | $190,000 | held | — | 10 q |
| unresolvedQuorum Health Corp | 0.04% | 18,273 | $133,000 | trimmed−80% | −0.18 pp | 3 q |
| unresolvedAffimed NV | 0.04% | 72,786 | $131,000 | trimmed−0% | −0.04 pp | 6 q |
| unresolvedFlyht Aerospace Soluti Com | 0.00% | 22,000 | $4,000 | held | — | 13 q |
| DSLDoubleline Income Solutions Fund | — | −33,720 | — | exited | −0.25 pp | — |
| TNKTeekay Tankers Ltd. | — | −50,695 | — | exited | −0.05 pp | — |
Other 13(f) securities
Options
| Contract | % of notional | Shares | Notional |
|---|---|---|---|
| VNO PUT | 12.87% | 21,000 | $2M |
| F PUT | 7.83% | 110,000 | $1M |
| General Growth Pptys Inc New PUT | 6.97% | 47,500 | $1M |
| GILD CALL | 6.22% | 14,800 | $1M |
| ALLY PUT | 5.23% | 46,800 | $890,000 |
| BIIB CALL | 5.00% | 3,000 | $851,000 |
| PAA PUT | 4.93% | 26,000 | $840,000 |
| CNQ PUT | 4.68% | 25,000 | $797,000 |
| BAC CALL | 3.89% | 30,000 | $663,000 |
| NAVI PUT | 3.76% | 39,000 | $641,000 |
| TSLA PUT | 3.76% | 3,000 | $641,000 |
| AKS PUT | 3.42% | 57,000 | $582,000 |
| CSCO CALL | 3.37% | 19,000 | $574,000 |
| Hcp Inc PUT | 3.14% | 18,000 | $535,000 |
| JCP PUT | 2.93% | 60,000 | $499,000 |
| VIAB PUT | 2.88% | 14,000 | $491,000 |
| Sprint Nextel Corp PUT | 2.82% | 57,000 | $480,000 |
| WMB PUT | 2.74% | 15,000 | $467,000 |
| CELG CALL | 2.04% | 3,000 | $347,000 |
| LEN CALL | 2.04% | 8,100 | $348,000 |
| TPH CALL | 1.75% | 26,000 | $298,000 |
| AVP PUT | 1.69% | 57,000 | $287,000 |
| PHM CALL | 1.40% | 13,000 | $239,000 |
| BFH CALL | 1.34% | 1,000 | $229,000 |
| GM CALL | 1.31% | 6,400 | $223,000 |
| 0WE CALL | 1.30% | 44,500 | $222,000 |
| AAPL CALL | 0.68% | 1,000 | $116,000 |
Notes