Muhlenkamp

Q4 2024 13F · by Jeff Muhlenkamp, portfolio manager

As of: Dec 31, 2024
Filed: Feb 13, 2025
US stock: $329M · prev $326M
Positions: 30 · prev 28
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

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

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves28 since the prior filing

−0.0 pp in · 0.0 pp out

New 2 +4.59 pp
Added 26 −4.59 pp
Trimmed 0 0.00 pp
Exited 0 0.00 pp

The book

Focused · behaves like 24 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 0.0% a year

Low
Moderate
High

Top 5 positions30% of US stock

MCK McKesson Corporation added+0.84 pp added+0.846.7%
EQT Eqt Corp added+1.26 pp added+1.266.3%
RUSHA Rush Enterprises Inc added+0.18 pp added+0.186.2%
BRK.B BERKSHIRE HATHAWAY Class B added−0.13 pp added−0.135.3%
NMIH NMI Holdings Inc. added−0.67 pp added−0.675.2%

Positions30 in this filing · 0 exited


MCKMcKesson Corporation	6.69%	38,661	$22M	added0%	+0.84 pp	7 q
EQTEqt Corp	6.32%	451,435	$21M	added0%	+1.26 pp	7 q
RUSHARush Enterprises Inc	6.19%	371,978	$20M	added0%	+0.18 pp	7 q
BRK.BBERKSHIRE HATHAWAY Class B	5.25%	38,172	$17M	added0%	−0.13 pp	7 q
NMIHNMI Holdings Inc.	5.18%	463,893	$17M	added0%	−0.67 pp	7 q
AAPLApple Inc.	4.79%	63,056	$16M	added0%	+0.30 pp	7 q
BGCBGC Group, Inc. Class A	4.77%	1,734,758	$16M	added0%	−0.10 pp	6 q
MTZMasTec, Inc.	4.36%	105,504	$14M	added0%	+0.39 pp	7 q
MSFTMicrosoft Corp	4.10%	32,038	$14M	added0%	−0.11 pp	7 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	3.88%	25,265	$13M	added0%	−0.64 pp	7 q
TGNATEGNA Inc.	3.84%	691,332	$13M	added0%	+0.51 pp	7 q
SLBSLB Limited	3.68%	315,827	$12M	added0%	−0.37 pp	7 q
WABWabtec Inc.	3.60%	62,484	$12M	added0%	+0.13 pp	7 q
AEMAgnico Eagle Mines Ltd.	3.57%	150,532	$12M	new	+3.57 pp	new
OXYOccidental Petroleum Corporation	3.57%	237,967	$12M	added0%	−0.18 pp	7 q
RGLDRoyal Gold Inc	3.48%	86,978	$11M	added0%	−0.25 pp	7 q
URIUnited Rentals, Inc.	3.29%	15,375	$11M	added0%	−0.52 pp	6 q
PHMPultegroup, Inc.	3.24%	98,071	$11M	added0%	−1.06 pp	7 q
NEMNewmont Corporation	3.19%	282,103	$10M	added0%	−1.42 pp	5 q
TMHCTaylor Morrison Home Corporation	2.88%	155,280	$10M	added0%	−0.45 pp	7 q
DOWDow Inc.	2.75%	225,369	$9M	added0%	−1.01 pp	7 q
AMLPAlerian MLP ETF	2.56%	175,109	$8M	added0%	+0.03 pp	7 q
KEXKirby Corporation	2.34%	73,011	$8M	added0%	−0.39 pp	7 q
MCHPMicrochip Technology Inc	2.05%	117,892	$7M	added0%	−0.84 pp	7 q
GLDSPDR Gold Trust, SPDR Gold Shares	1.62%	22,085	$5M	added+1%	−0.01 pp	7 q
RIGTransocean LTD.	1.17%	1,024,601	$4M	added+1%	−0.15 pp	7 q
JDJD.com, Inc.	1.02%	96,898	$3M	new	+1.02 pp	new
EPDEnterprise Products Partners L.P.	0.26%	26,855	$842,173	held	—	7 q
IBITiShares Bitcoin Trust ETF	0.23%	14,010	$743,231	added0%	+0.07 pp	3 q
RUSHBRush Enterprises Inc	0.16%	9,501	$517,234	held	—	7 q

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001133219-25-000001
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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