13F-HR 1 q0410.txt 12/31/10 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 12/31/10 Check here if Amendment []; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Muhlenkamp & Company Address: 5000 Stonewood Drive, Suite 300 Wexford, PA 15090 Form 13F File Number: 28-03447 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Jack Kunkle Title: Analyst Phone: 724-934-5126 /s/ Jack Kunkle February 15, 2011 Report Type (Check only one.): [x] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 51 Form 13F Information Table Value Total: 711030 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- ------ AEROPOSTALE INC COM 007865108 15537 630552.0000 SH Sole 630552.0000 ALLEGIANT TRAVEL CO COM 01748X102 9802 199070.0000 SH Sole 199070.0000 AMEDISYS INC COM 023436108 9998 298460.0000 SH Sole 298460.0000 AMERICAN SUPERCONDUCTR COM COM 030111108 4329 151400.0000 SH Sole 151400.0000 ASBURY AUTOMOTIVE GP COM COM 043436104 1990 107665.0000 SH Sole 107665.0000 AT&T INC COM COM 00206R102 27809 946520.0000 SH Sole 946520.0000 Abbott Labs COM 002824100 21170 441880.0000 SH Sole 441880.0000 Apollo Group Inc CL A COM 037604105 1729 43790.0000 SH Sole 43790.0000 Berkshire Hathaway CL B COM 084670702 23533 293755.0000 SH Sole 293755.0000 CHESAPEAKE ENERGY CORP COM COM 165167107 17518 676120.0000 SH Sole 676120.0000 Cisco Systems Inc COM 17275R102 20295 1003220.0000 SH Sole 1003220.0000 Corning Inc. COM 219350105 17155 887934.0000 SH Sole 887934.0000 DRAGONWAVE INC COM COM 26144M103 3594 425864.0000 SH Sole 425864.0000 Delta Air Lines COM 247361702 21008 1667335.0000 SH Sole 1667335.0000 DuPont COM 263534109 23131 463725.0000 SH Sole 463725.0000 FUEL SYS SOLUTIONS INC COM COM 35952W103 8226 280000.0000 SH Sole 280000.0000 Ford Motor Company COM 345370860 37261 2219255.0000 SH Sole 2219255.0000 GILEAD SCIENCES INC COM COM 375558103 14544 401330.0000 SH Sole 401330.0000 GROUP 1 AUTOMOTIVE INC COM 398905109 17961 430100.0000 SH Sole 430100.0000 General Motors Co. COM 37045V100 737 20000.0000 SH Sole 20000.0000 HELIX ENERGY SOLUTIONS GROUP COM 42330P107 12198 1004745.0000 SH Sole 1004745.0000 HEWLETT-PACKARD CO COM 428236103 18520 439900.0000 SH Sole 439900.0000 Hospira, Inc. COM 441060100 15174 272465.0000 SH Sole 272465.0000 INNOVATIVE SOLTNS&SUPP COM COM 45769N105 3096 545985.0000 SH Sole 545985.0000 Intel Corp COM 458140100 22642 1076670.0000 SH Sole 1076670.0000 International Business Machine COM 459200101 1344 9158.0000 SH Sole 9158.0000 KB Home COM 48666K109 2253 167000.0000 SH Sole 167000.0000 LABORATORY CORP OF AMERICA COM 50540R409 27910 317450.0000 SH Sole 317450.0000 LATTICE SEMICONDUCTOR CORP COM 518415104 2446 403600.0000 SH Sole 403600.0000 MEMC ELECTRONIC MATERIALS COM 552715104 2550 226500.0000 SH Sole 226500.0000 Microsoft Corp COM 594918104 24639 882800.0000 SH Sole 882800.0000 NOBLE CORP COM H5833N103 11175 312415.0000 SH Sole 312415.0000 Novogen LTD COM 67010F103 128 251710.0000 SH Sole 251710.0000 Oracle Corp COM 68389X105 34429 1099965.0000 SH Sole 1099965.0000 PHILIP MORRIS INTL. INC. COM 718172109 29099 497157.3650 SH Sole 497157.3650 PNC Financial COM 693475105 22992 378650.0000 SH Sole 378650.0000 Pfizer Inc COM 717081103 28843 1647230.0000 SH Sole 1647230.0000 Rush Enterprises CLA COM 781846209 6130 299907.0000 SH Sole 299907.0000 Rush Enterprises CLB COM 781846308 604 33402.0000 SH Sole 33402.0000 Ryland Group COM 783764103 1737 102000.0000 SH Sole 102000.0000 SONIC AUTOMOTIVE INC CL A COM 83545G102 23137 1747480.0000 SH Sole 1747480.0000 Stanley Furniture Inc New COM 854305208 1443 463865.0000 SH Sole 463865.0000 State Street Corp COM 857477103 20397 440163.0000 SH Sole 440163.0000 Symantec Corp COM 871503108 3348 200000.0000 SH Sole 200000.0000 TRUE RELIGION APPAREL INC COM 89784N104 3175 142645.0000 SH Sole 142645.0000 Transocean LTD COM H8817H100 23195 333700.0000 SH Sole 333700.0000 UnitedHealth Group Inc. COM 91324P102 32751 906984.0000 SH Sole 906984.0000 VECO INSTRUMENTS INC COM 922417100 13492 314055.0000 SH Sole 314055.0000 WESCO INTERNATIONAL INC COM 95082P105 19038 360575.0000 SH Sole 360575.0000 WESTPORT INNOVATIONS COM NEW COM 960908309 5573 300895.0000 SH Sole 300895.0000 Muhlenkamp Fund 962096103 245 4545.7620 SH Sole 4545.7620