Ronald Muhlenkamp's Strategic Moves: Tegna Inc. Exits with a -3.84% Impact
Ronald Muhlenkamp (Trades, Portfolio) recently submitted the 13F filing for the first quarter of 2025, providing insights into his investment moves during this period. Ronald H. Muhlenkamp is the founder and president of Muhlenkamp & Company, Inc., and portfolio manager for the company's self-named mutual fund (MUHLX). Muhlenkamp is a patient value investor. The stocks in his portfolio stay an average of 10 years. He is a value guru who believes that over time, stock prices do reflect the values of the underlying businesses. When picking stocks, he looks for companies with solid balance sheets, and a return on equity capital (ROE) of 15% or better. Although his methods change with inflation and interest rates, he currently looks for companies with a P/E ratio lower than the companies' ROE and expected growth rates. He focuses on the long-term "Business of Investing" because he thinks that it is more profitable and more reliable. As a long-term investor, his "normal" position is to be 100% invested in corporate stocks.
Warning! GuruFocus has detected 5 Warning Sign with MCK.
Ronald Muhlenkamp (Trades, Portfolio) added a total of 1 stock, among them:
The most significant addition was The Travelers Companies Inc (NYSE:TRV), with 6,648 shares, accounting for 0.58% of the portfolio and a total value of $1,758,130.
Ronald Muhlenkamp (Trades, Portfolio) also increased stakes in a total of 7 stocks, among them:
The most notable increase was JD.com Inc (NASDAQ:JD), with an additional 106,934 shares, bringing the total to 203,832 shares. This adjustment represents a significant 110.36% increase in share count, a 1.44% impact on the current portfolio, and a total value of $8,381,560.
The second largest increase was Agnico Eagle Mines Ltd (NYSE:AEM), with an additional 720 shares, bringing the total to 151,252. This adjustment represents a significant 0.48% increase in share count, with a total value of $16,397,200.
Ronald Muhlenkamp (Trades, Portfolio) completely exited 5 holdings in the first quarter of 2025, as detailed below:
Tegna Inc (NYSE:TGNA): Ronald Muhlenkamp (Trades, Portfolio) sold all 691,332 shares, resulting in a -3.84% impact on the portfolio.
Occidental Petroleum Corp (NYSE:OXY): Ronald Muhlenkamp (Trades, Portfolio) liquidated all 237,967 shares, causing a -3.57% impact on the portfolio.
Ronald Muhlenkamp (Trades, Portfolio) also reduced positions in 15 stocks. The most significant changes include:
Reduced Microchip Technology Inc (NASDAQ:MCHP) by 6,832 shares, resulting in a -5.8% decrease in shares and a -0.12% impact on the portfolio. The stock traded at an average price of $55.72 during the quarter and has returned 15.68% over the past 3 months and 9.45% year-to-date.
Reduced Apple Inc (NASDAQ:AAPL) by 610 shares, resulting in a -0.97% reduction in shares and a -0.05% impact on the portfolio. The stock traded at an average price of $231.67 during the quarter and has returned -11.73% over the past 3 months and -14.77% year-to-date.
At the first quarter of 2025, Ronald Muhlenkamp (Trades, Portfolio)'s portfolio included 26 stocks, with top holdings including 8.5% in McKesson Corp (NYSE:MCK), 7.87% in EQT Corp (NYSE:EQT), 6.65% in Berkshire Hathaway Inc (NYSE:BRK.B), 6.49% in Rush Enterprises Inc (NASDAQ:RUSHA), and 5.46% in NMI Holdings Inc (NASDAQ:NMIH).
The holdings are mainly concentrated in 7 of the 11 industries: Financial Services, Basic Materials, Energy, Healthcare, Consumer Cyclical, Industrials, and Technology.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
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