Muhlenkamp & Co provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for institutions, publishing newsletters, and educational seminars. Financial planning was provided to 1–10 clients last fiscal year.
Muhlenkamp & Co reports 69 clients. They include 31 individual clients, 29 high-net-worth individuals and 4 charitable organizations. Of its assets, 100.0% ($436M across 69 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 45% | 4% |
| High-net-worth individuals | 42% | 35% |
| Banking or thrift institutions | 0% | 0% |
| Investment companies | 1% | 58% |
| Pension and profit-sharing plans | 1% | <1% |
| Other client typesCharitable organizations; State or municipal government entities; Other investment advisers; Insurance companies; Sovereign wealth funds and foreign official institutions; Corporations and other businesses; Other | 10% | 2% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 31 | $17.8M | 4.1% | $574K |
| High-net-worth individuals | 29 | $154M | 35.4% | $5.32M |
| Banking or thrift institutions | Fewer than 5 | $0 | 0.0% | — |
| Investment companies | 1 | $254M | 58.2% | $254M |
| Pension and profit-sharing plans | Fewer than 5 | $346K | 0.1% | $346K |
| Charitable organizations | Fewer than 5 | $6.16M | 1.4% | $1.54M |
| State or municipal government entities | Fewer than 5 | $0 | 0.0% | — |
| Other investment advisers | Fewer than 5 | $0 | 0.0% | — |
| Insurance companies | Fewer than 5 | $0 | 0.0% | — |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 | $0 | 0.0% | — |
| Corporations and other businesses | Fewer than 5 | $2.8M | 0.6% | $2.8M |
| Other | Fewer than 5 | $935K | 0.2% | $468K |
| Total | 69 | $436M | 100% | — |
- Clients
- 31
- Regulatory AUM
- $17.8M
- AUM share
- 4.1%
- Avg. per client
- $574K
- Clients
- 29
- Regulatory AUM
- $154M
- AUM share
- 35.4%
- Avg. per client
- $5.32M
- Clients
- Fewer than 5
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- —
- Clients
- 1
- Regulatory AUM
- $254M
- AUM share
- 58.2%
- Avg. per client
- $254M
- Clients
- Fewer than 5
- Regulatory AUM
- $346K
- AUM share
- 0.1%
- Avg. per client
- $346K
- Clients
- Fewer than 5
- Regulatory AUM
- $6.16M
- AUM share
- 1.4%
- Avg. per client
- $1.54M
- Clients
- Fewer than 5
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $2.8M
- AUM share
- 0.6%
- Avg. per client
- $2.8M
- Clients
- Fewer than 5
- Regulatory AUM
- $935K
- AUM share
- 0.2%
- Avg. per client
- $468K
Total
- Clients
- 69
- Regulatory AUM
- $436M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 1–10
Muhlenkamp & Co is paid through a percentage of assets under management and hourly charges; its fees and minimums are set out in its brochures on the SEC website.
Anthony Muhlenkamp owns 50% to 75% of Muhlenkamp & Co. The leadership team of Muhlenkamp & Co includes President Anthony Muhlenkamp. It has 6 employees, 1 of them in advisory roles.
Staff
- 6 employees
- 1 in advisory functions
- 5 state-registered reps
- 4 broker-dealer reps
- Owns 50% to 75% of Muhlenkamp & Co Inc
Anthony Muhlenkamp
Control person · since December 2012
- Owns 25% to 50% of Muhlenkamp & Co Inc
Jeffrey Muhlenkamp
Control person · since December 2021
Muhlenkamp & Co’s regulatory assets grew 1.9× from $231M (December 2020) to $436M (December 2025); clients rose from 45 to 69 and employees fell from 7 to 6.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Dec 2025December 2025 | $436M | 69 | 6 | 1 |
| Jul 2025July 2025 | $412M | 63 | 6 | 1 |
| Dec 2023December 2023 | $345M | 56 | 6 | 1 |
| Dec 2022December 2022 | $375M | 53 | 6 | 1 |
| Jan 2022January 2022 | $291M | 46 | 6 | 1 |
| Dec 2020December 2020 | $231M | 45 | 7 | 1 |
Besides its headquarters, Muhlenkamp & Co has 0 offices, with 1 listed address in 1 state.
Pennsylvania · 1 listed address
- 5000 Stonewood Drive, Suite 300, WexfordHQ
Contact and registration details
- Legal name
- Muhlenkamp & Co Inc
- Headquarters
- 5000 Stonewood Drive, Suite 300, Wexford, PA 15090-8395
- Website
- muhlenkamp.com
- Phone
- 724-935-5520
- @muhlenkamp-&-company
- SEC file
- 801-16476
- Structure
- Pennsylvania corporation
- Fiscal year end
- September
Muhlenkamp & Co’s named custodian for separately managed accounts is Charles Schwab ($177M). Muhlenkamp & Co does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · Orlando, FL · $177M100%
At year end, Muhlenkamp & Co’s separately managed accounts were mostly in stocks (74%) and cash (16%). Its reported 13F holdings for the quarter ended 30 June 2026 total $345M across 28 positions; the largest are Rush Enterprises Inc. (7.0%), Newmont Corp. (6.3%) and Agnico Eagle Mines Ltd (6.2%).
What the accounts hold
- Stocks74%
- Funds8%
- Cash16%
- Other2%
- Unassigned, pooled investment other than investment company, and investment grade corporate bonds2%
How many clients does Muhlenkamp & Co have?
Muhlenkamp & Co has 69 clients and manages $436 million for them, as of December 2025. They include 31 individual clients, 29 high-net-worth individuals and 4 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 19 December 2025
What services does Muhlenkamp & Co offer?
Muhlenkamp & Co provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for institutions, publishing newsletters, and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Muhlenkamp & Co use?
Muhlenkamp & Co’s separately managed account assets are held at Charles Schwab & Co., Inc. (Orlando, FL), with $177M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 19 December 2025
How many financial advisors does Muhlenkamp & Co have?
Muhlenkamp & Co has 5 investment adviser representatives registered with state securities authorities, out of 6 employees, and 1 perform investment advisory functions. 4 employees are registered representatives of a broker-dealer and 0 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Muhlenkamp & Co invest in?
At the end of its last fiscal year, Muhlenkamp & Co’s separately managed accounts held 74% exchange-traded equities, 16% cash and equivalents, 8% registered funds (mutual funds, ETFs, BDCs) and 2% other. The 2% other category is described as: Unassigned, Pooled Investment Other Than Investment Company, and Investment Grade Corporate Bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Muhlenkamp & Co?
Muhlenkamp & Co’s direct owners are Anthony Muhlenkamp (50% to 75%) and Jeffrey Muhlenkamp (25% to 50%).
Source: Form ADV Part 1A, Schedules A and B, filed 19 December 2025
How does Muhlenkamp & Co get paid?
Muhlenkamp & Co is paid through a percentage of assets under management and hourly charges. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Muhlenkamp & Co?
Muhlenkamp & Co’s main office is at 5000 Stonewood Drive, Suite 300, Wexford, PA 15090-8395. Its phone number is 724-935-5520. Its website is muhlenkamp.com.