13F-HR 1 q206.txt 2ND QUARTER 2006 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 6/30/2006 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 August 15, 2006 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: 92 Form 13F Information Table Value Total: 3,271,322 (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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- ------ Allstate Insurance Grp. COM 020002101 140189 2484742.8420SH SOLE 2484742.8420 Altria Group Inc COM 02209S103 105231 1306246.5817SH SOLE 1306246.5817 American Express Co. COM 025816109 203 3910.0000SH SOLE 3910.0000 American International Group COM 026874107 115115 1865715.0000SH SOLE 1865715.0000 American Woodmark Corp COM 030506109 16413 493337.6535SH SOLE 493337.6535 Anadarko Petroleum Corp. COM 032511107 115644 2521680.0000SH SOLE 2521680.0000 BHP BILLITON LTD SPONSORED ADR COM 088606108 59878 1451940.0000SH SOLE 1451940.0000 Bank of America Corp COM 060505104 786 15374.4065SH SOLE 15374.4065 Beazer Homes Inc. COM 07556Q105 37177 934555.3800SH SOLE 934555.3800 Berkshire Hathaway CL B COM 084670207 262 85.0000 SH SOLE 85.0000 Black & Decker Corp COM 091797100 55345 812218.8109SH SOLE 812218.8109 CHAPARRAL STL CO DEL COM COM 159423102 19673 293581.0000SH SOLE 293581.0000 Capital One Financial Corp. COM 14040H105 122299 1678081.7350SH SOLE 1678081.7350 Caterpillar COM 149123101 73762 1118284.0000SH SOLE 1118284.0000 Cemex S A Ssponsor ADR New Rep COM 151290889 150933 5526666.9960SH SOLE 5526666.9960 Cendant COM 151313103 3511 2029600.0000SH SOLE 2029600.0000 Centex Corp COM 152312104 76659 1654280.2220SH SOLE 1654280.2220 ChevronTexaco Corp. COM 166764100 231 3445.0000SH SOLE 3445.0000 Cisco Systems Inc COM 17275R102 484 24099.0000SH SOLE 24099.0000 Citigroup Inc. COM 172967101 124055 2599637.9111SH SOLE 2599637.9111 ConocoPhillips COM 20825C104 130218 1948790.8400SH SOLE 1948790.8400 Countrywide Financial Corp. COM 222372104 123298 3728389.2951SH SOLE 3728389.2951 DEVON ENERGY CORP NEW COM COM 25179M103 96234 1553917.5640SH SOLE 1553917.5640 Dell Inc. COM 24702R101 291 13684.0000SH SOLE 13684.0000 Dynegy Inc. COM 26816Q101 5189 920000.0000SH SOLE 920000.0000 EMBARQ CORP COM COM 29078E105 2069 46773.0000SH SOLE 46773.0000 EResearch COM 29481V108 9232 1183615.0000SH SOLE 1183615.0000 Eagle Materials Inc COM 26969P108 11597 325310.8453SH SOLE 325310.8453 El Paso Corporation COM 28336l109 11389 802589.0000SH SOLE 802589.0000 Exxon Mobil Corp. COM 30231G102 865 12497.0000SH SOLE 12497.0000 FIDELITY NATIONAL TITLE-CL A COM 31620R105 5836 311242.0000SH SOLE 311242.0000 Fannie Mae COM 313586109 94472 1972693.0001SH SOLE 1972693.0001 Fidelity National Financial COM 316326107 76289 2005481.0830SH SOLE 2005481.0830 GAMCO INVESTORS INC-A COM 361438104 4215 121600.0000SH SOLE 121600.0000 General Electric COM 369604103 1625 49513.3032SH SOLE 49513.3032 Goldman Sachs Group Inc. COM 38141G104 507 3375.0000SH SOLE 3375.0000 Graco Inc. COM 384109104 8134 219846.0000SH SOLE 219846.0000 Harley Davidson Inc. COM 412822108 23956 425360.0000SH SOLE 425360.0000 Houston Exploration COM 442120101 47457 777600.0000SH SOLE 777600.0000 Intel Corp COM 458140100 286 16000.0000SH SOLE 16000.0000 International Business Machine COM 459200101 11649 151923.3785SH SOLE 151923.3785 J.P. Morgan Chase & Co. COM 46625H100 541 12334.0000SH SOLE 12334.0000 Johnson & Johnson COM 478160104 96733 1513573.8700SH SOLE 1513573.8700 LONE STAR TECHNOLOGIES COM COM 542312103 2758 63370.0000SH SOLE 63370.0000 Lamson & Sessions COM 513696104 3645 138000.0000SH SOLE 138000.0000 MARSHALL EDWARDS INC COM COM 572322303 235 77397.0000SH SOLE 77397.0000 MAVERICK TUBE CORP COM 577914104 332 5175.0000SH SOLE 5175.0000 Masco Corp COM 574599106 29668 1132348.3860SH SOLE 1132348.3860 Mastec Inc. COM 576323109 4991 461700.0000SH SOLE 461700.0000 Mellon Financial Corp. COM 58551A108 253 6944.0000SH SOLE 6944.0000 Meritage Corp. COM 59001A102 41361 1079635.0000SH SOLE 1079635.0000 Merrill Lynch COM 590188108 130493 1805637.5420SH SOLE 1805637.5420 Microsoft Corp COM 594918104 911 37151.1095SH SOLE 37151.1095 Mohawk Industries, Inc. COM 608190104 25010 372453.0000SH SOLE 372453.0000 Morgan Stanley COM 617446448 22234 341909.0000SH SOLE 341909.0000 NOVAGOLD RES INC COM NEW COM 66987E206 7329 434700.0000SH SOLE 434700.0000 NVR Inc. COM 62944T105 71146 153167.0000SH SOLE 153167.0000 Nabors Industries LTD New (Ber COM G6359F103 122703 3746652.0000SH SOLE 3746652.0000 National RV Holdings COM 637277104 1943 456133.0000SH SOLE 456133.0000 Nokia Corp Spon ADR COM 654902204 277 13930.0000SH SOLE 13930.0000 Novogen LTD COM 67010F103 2630 251710.0000SH SOLE 251710.0000 OPENTV CORP CL A COM G67543101 546 200000.0000SH SOLE 200000.0000 Patterson Energy Inc. COM 703481101 85982 3295589.0460SH SOLE 3295589.0460 Pfizer Inc COM 717081103 82555 3165435.8187SH SOLE 3165435.8187 Polaris Industries, Inc. COM 731068102 20561 556310.0000SH SOLE 556310.0000 Pulte Homes, Inc. COM 745867101 17889 649800.0000SH SOLE 649800.0000 REALOGY CORPORATION COM 75605E100 10982 520230.2500SH SOLE 520230.2500 RTI International Metals Inc. COM 74973W107 11824 280180.0000SH SOLE 280180.0000 Rush Enterprises CLA COM 781846209 3626 206605.0000SH SOLE 206605.0000 Rush Enterprises CLB COM 781846308 4613 283005.0000SH SOLE 283005.0000 SPRINT NEXTEL CORP COM 852061100 15398 935466.0000SH SOLE 935466.0000 Schlumberger Limited Com COM 806857108 219 3486.0000SH SOLE 3486.0000 Stanley Furniture Inc New COM 854305208 18236 844655.0000SH SOLE 844655.0000 TIDEWATER INC COM COM 886423102 292 6115.0000SH SOLE 6115.0000 Telefonos De Mexico COM 879403780 71587 3010400.0000SH SOLE 3010400.0000 Terex Corp Del COM 880779103 50357 1280054.0000SH SOLE 1280054.0000 Texas Industries Inc. COM 882491103 9172 209415.0000SH SOLE 209415.0000 Thor Industries Inc. COM 885160101 68841 1662434.0000SH SOLE 1662434.0000 Toll Brothers Inc. COM 889478103 47322 1975870.0000SH SOLE 1975870.0000 U S Bancorp Del New COM 902973304 496 15510.0000SH SOLE 15510.0000 United Technologies Corp. COM 913017109 470 7780.0000SH SOLE 7780.0000 UnitedHealth Group Inc. COM 91324P102 96999 2035238.1220SH SOLE 2035238.1220 WYNDHAM WORLDWIDE CORPORATION COM 98310W108 11462 416195.0000SH SOLE 416195.0000 Wal-Mart Stores COM 931142103 342 7592.0000SH SOLE 7592.0000 Washington Mutual Inc. COM 939322103 55068 1290862.0000SH SOLE 1290862.0000 Wells Fargo & Co. COM 949746101 308 8900.0000SH SOLE 8900.0000 Whirlpool Corp COM 963320106 46272 604860.0000SH SOLE 604860.0000 Winnebago Inds. Inc. COM 974637100 29774 1090229.1950SH SOLE 1090229.1950 Wyeth COM 983024100 759 16038.0000SH SOLE 16038.0000 YRC WORLDWIDE INC COM 984249102 61143 1657892.0000SH SOLE 1657892.0000 Muhlenkamp Fund 962096103 334 4289.3240SH SOLE 4289.3240 SCHWAB ADVANTAGE TR CALIF TAX 808508204 40 39871.4700SH SOLE 39871.4700