{
 "manager": "Muhlenkamp & Company",
 "page": "https://www.moatshark.com/m/muhlenkamp-company",
 "form": "13F-HR",
 "period": "2026-06-30",
 "filed": "2026-08-18",
 "previous_period": "2026-03-31",
 "filing_url": "https://www.sec.gov/Archives/edgar/data/1133219/000113321926000003/0001133219-26-000003-index.htm",
 "total_value_usd": 345251246,
 "note": "Source: SEC filings via moatshark. Values and changes are estimates; not investment advice.",
 "holdings": [
  {
   "company": "Rush Enterprises",
   "ticker": "RUSHA",
   "moatshark_slug": "rusha",
   "sector": "Consumer discretionary",
   "value_usd": 24973816,
   "shares": 341725,
   "portfolio_pct": 7.23,
   "previous_pct": 5.94,
   "change": "ADD",
   "share_change_pct": 0.1,
   "quarters_held": 50
  },
  {
   "company": "Newmont",
   "ticker": "NEM",
   "moatshark_slug": "nem",
   "sector": "Materials",
   "value_usd": 21583806,
   "shares": 231090,
   "portfolio_pct": 6.25,
   "previous_pct": 6.59,
   "change": "REDUCE",
   "share_change_pct": 0,
   "quarters_held": 11
  },
  {
   "company": "Agnico Eagle Mines",
   "ticker": "AEM",
   "moatshark_slug": "aem",
   "sector": "Materials",
   "value_usd": 21488763,
   "shares": 138521,
   "portfolio_pct": 6.22,
   "previous_pct": 7.41,
   "change": "REDUCE",
   "share_change_pct": 0,
   "quarters_held": 7
  },
  {
   "company": "EQT",
   "ticker": "EQT",
   "moatshark_slug": "eqt",
   "sector": "Energy",
   "value_usd": 21387260,
   "shares": 402243,
   "portfolio_pct": 6.19,
   "previous_pct": 6.72,
   "change": "ADD",
   "share_change_pct": 0.2,
   "quarters_held": 18
  },
  {
   "company": "Mckesson",
   "ticker": "MCK",
   "moatshark_slug": "mck",
   "sector": "Health care",
   "value_usd": 20553831,
   "shares": 27202,
   "portfolio_pct": 5.95,
   "previous_pct": 6.19,
   "change": "ADD",
   "share_change_pct": 0.1,
   "quarters_held": 38
  },
  {
   "company": "Berkshire Hathaway",
   "ticker": "BRK.B",
   "moatshark_slug": "brk-b",
   "sector": "Insurance",
   "value_usd": 19262513,
   "shares": 38495,
   "portfolio_pct": 5.58,
   "previous_pct": 4.84,
   "change": "ADD",
   "share_change_pct": 0.4,
   "quarters_held": 26
  },
  {
   "company": "Microchip Technology",
   "ticker": "MCHP",
   "moatshark_slug": "mchp",
   "sector": "Technology",
   "value_usd": 18526277,
   "shares": 203139,
   "portfolio_pct": 5.37,
   "previous_pct": 3.45,
   "change": "ADD",
   "share_change_pct": 0.1,
   "quarters_held": 35
  },
  {
   "company": "Apple",
   "ticker": "AAPL",
   "moatshark_slug": "aapl",
   "sector": "Technology",
   "value_usd": 17976490,
   "shares": 62125,
   "portfolio_pct": 5.21,
   "previous_pct": 4.18,
   "change": "REDUCE",
   "share_change_pct": -0.7,
   "quarters_held": 50
  },
  {
   "company": "United Rentals",
   "ticker": "URI",
   "moatshark_slug": "uri",
   "sector": "Industrials",
   "value_usd": 17755785,
   "shares": 15673,
   "portfolio_pct": 5.14,
   "previous_pct": 2.99,
   "change": "ADD",
   "share_change_pct": 0.4,
   "quarters_held": 12
  },
  {
   "company": "Royal Gold",
   "ticker": "RGLD",
   "moatshark_slug": "rgld",
   "sector": "Financials",
   "value_usd": 17583246,
   "shares": 88088,
   "portfolio_pct": 5.09,
   "previous_pct": 5.89,
   "change": "ADD",
   "share_change_pct": 0.2,
   "quarters_held": 22
  },
  {
   "company": "Wabtec",
   "ticker": "WAB",
   "moatshark_slug": "wab",
   "sector": "Industrials",
   "value_usd": 17026858,
   "shares": 63156,
   "portfolio_pct": 4.93,
   "previous_pct": 4.16,
   "change": "ADD",
   "share_change_pct": 0,
   "quarters_held": 28
  },
  {
   "company": "BGC Group",
   "ticker": "BGC",
   "moatshark_slug": "bgc",
   "sector": "Financials",
   "value_usd": 15469178,
   "shares": 1447070,
   "portfolio_pct": 4.48,
   "previous_pct": 3.72,
   "change": "ADD",
   "share_change_pct": 0.2,
   "quarters_held": 12
  },
  {
   "company": "NMI Holdings",
   "ticker": "NMIH",
   "moatshark_slug": "nmih",
   "sector": "Insurance",
   "value_usd": 15144048,
   "shares": 368558,
   "portfolio_pct": 4.39,
   "previous_pct": 3.62,
   "change": "ADD",
   "share_change_pct": 0.6,
   "quarters_held": 24
  },
  {
   "company": "Schlumberger",
   "ticker": "SLB",
   "moatshark_slug": "slb",
   "sector": "Energy",
   "value_usd": 15057088,
   "shares": 323878,
   "portfolio_pct": 4.36,
   "previous_pct": 4.36,
   "change": "ADD",
   "share_change_pct": 0.5,
   "quarters_held": 22
  },
  {
   "company": "Microsoft",
   "ticker": "MSFT",
   "moatshark_slug": "msft",
   "sector": "Technology",
   "value_usd": 12226206,
   "shares": 32776,
   "portfolio_pct": 3.54,
   "previous_pct": 3.21,
   "change": "REDUCE",
   "share_change_pct": -0.5,
   "quarters_held": 50
  },
  {
   "company": "Icon",
   "ticker": "ICLR",
   "moatshark_slug": "iclr",
   "sector": "Health care",
   "value_usd": 11523400,
   "shares": 66337,
   "portfolio_pct": 3.34,
   "previous_pct": 1.92,
   "change": "ADD",
   "share_change_pct": 0.5,
   "quarters_held": 4
  },
  {
   "company": "Taylor Morrison Home",
   "ticker": "TMHC",
   "moatshark_slug": "tmhc",
   "sector": null,
   "value_usd": 11379758,
   "shares": 158625,
   "portfolio_pct": 3.3,
   "previous_pct": 2.43,
   "change": "ADD",
   "share_change_pct": 0,
   "quarters_held": 13
  },
  {
   "company": "LyondellBasell Industries",
   "ticker": "LYB",
   "moatshark_slug": "lyb",
   "sector": "Materials",
   "value_usd": 9893988,
   "shares": 187920,
   "portfolio_pct": 2.87,
   "previous_pct": 3.97,
   "change": "ADD",
   "share_change_pct": 0.4,
   "quarters_held": 4
  },
  {
   "company": "Celanese",
   "ticker": "CE",
   "moatshark_slug": "ce",
   "sector": "Materials",
   "value_usd": 9751862,
   "shares": 211997,
   "portfolio_pct": 2.82,
   "previous_pct": 3.65,
   "change": "ADD",
   "share_change_pct": 0.6,
   "quarters_held": 5
  },
  {
   "company": "Spdr Gold Trust",
   "ticker": "GLD",
   "moatshark_slug": "gld",
   "sector": "Financials",
   "value_usd": 8129410,
   "shares": 22068,
   "portfolio_pct": 2.35,
   "previous_pct": 2.5,
   "change": "REDUCE",
   "share_change_pct": -0.1,
   "quarters_held": 38
  },
  {
   "company": "Alps Etf Tr",
   "ticker": "AMLP",
   "moatshark_slug": "amlp",
   "sector": null,
   "value_usd": 7809388,
   "shares": 150615,
   "portfolio_pct": 2.26,
   "previous_pct": 2.09,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 24
  },
  {
   "company": "Equinox Gold",
   "ticker": "EQX",
   "moatshark_slug": "eqx",
   "sector": "Materials",
   "value_usd": 5076280,
   "shares": 522251,
   "portfolio_pct": 1.47,
   "previous_pct": 1.98,
   "change": "ADD",
   "share_change_pct": 0.6,
   "quarters_held": 4
  },
  {
   "company": "Travelers Companies",
   "ticker": "TRV",
   "moatshark_slug": "trv",
   "sector": "Insurance",
   "value_usd": 2187705,
   "shares": 6627,
   "portfolio_pct": 0.63,
   "previous_pct": 0.51,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 6
  },
  {
   "company": "Ge Vernova",
   "ticker": "GEV",
   "moatshark_slug": "gev",
   "sector": "Industrials",
   "value_usd": 1675350,
   "shares": 1426,
   "portfolio_pct": 0.49,
   "previous_pct": 0.33,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 4
  },
  {
   "company": "Enterprise Products Partners",
   "ticker": "EPD",
   "moatshark_slug": "epd",
   "sector": "Utilities",
   "value_usd": 913670,
   "shares": 24855,
   "portfolio_pct": 0.26,
   "previous_pct": 0.25,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 28
  },
  {
   "company": "Ishares Silver Trust",
   "ticker": "SLV",
   "moatshark_slug": "slv",
   "sector": "Financials",
   "value_usd": 671049,
   "shares": 12550,
   "portfolio_pct": 0.19,
   "previous_pct": null,
   "change": "NEW",
   "share_change_pct": null,
   "quarters_held": 1
  },
  {
   "company": "Exxon Mobil",
   "ticker": "EXMOC",
   "moatshark_slug": "exmoc",
   "sector": null,
   "value_usd": 224221,
   "shares": 1640,
   "portfolio_pct": 0.06,
   "previous_pct": 0.07,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 2
  },
  {
   "company": "Mastec",
   "ticker": "MTZ",
   "moatshark_slug": "mtz",
   "sector": "Industrials",
   "value_usd": 0,
   "shares": 0,
   "portfolio_pct": 0,
   "previous_pct": 3.63,
   "change": "EXIT",
   "share_change_pct": null,
   "quarters_held": 23
  },
  {
   "company": "Ea Series Trust",
   "ticker": "BOXX",
   "moatshark_slug": "boxx",
   "sector": null,
   "value_usd": 0,
   "shares": 0,
   "portfolio_pct": 0,
   "previous_pct": 3.41,
   "change": "EXIT",
   "share_change_pct": null,
   "quarters_held": 1
  }
 ]
}