13F-HR 1 q205.txt 2ND QUARTER 2005 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 06/30/05 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: 3000 Stonewood Drive, Suite 310 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: 724-935-5520, Ext: 116 /s/ Jack Kunkle August 10, 2005 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: 85 Form 13F Information Table Value Total: 2,811,870 (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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- ------ A T M I Inc. COM 00207R101 7093 244500.000SH SOLE 244500.000 Allstate Insurance Grp. COM 020002101 101479 1698390.000SH SOLE 1695760.000 Altria Group Inc COM 02209S103 75595 1169113.364SH SOLE 1168713.364 American International Group COM 026874107 23466 403882.000SH SOLE 403582.000 American Woodmark Corp COM 030506109 19345 644622.352SH SOLE 644282.352 Anadarko Petroleum Corp. COM 032511107 54260 660500.000SH SOLE 659100.000 Beazer Homes Inc. COM 07556Q105 51668 904083.304SH SOLE 900693.304 Black & Decker Corp COM 091797100 71165 792040.000SH SOLE 789930.000 Calpine Corp. COM 131347106 11845 3483717.000SH SOLE 3483717.000 Capital One Financial Corp. COM 14040H105 110990 1387205.000SH SOLE 1384725.000 Cemex S A Ssponsor ADR New Rep COM 151290889 106691 2515104.986SH SOLE 2511875.986 Cendant COM 151313103 57059 2550670.968SH SOLE 2550670.968 Centex Corp COM 152312104 109453 1548787.000SH SOLE 1545787.000 Citigroup Inc. COM 172967101 102221 2211150.031SH SOLE 2207970.031 ConocoPhillips COM 20825C104 75648 1315850.000SH SOLE 1313020.000 Countrywide Financial Corp. COM 222372104 113361 2936045.328SH SOLE 2931091.328 D&K Healthcare COM 232861104 4287 508500.000SH SOLE 508500.000 DEVON ENERGY CORP NEW COM COM 25179M103 67579 1333444.564SH SOLE 1328804.564 Dell Inc. COM 24702R101 125 3176.000 SH SOLE 2676.000 DuPont COM 263534109 291 6766.000 SH SOLE 6766.000 Dynamic Oil & Gas Inc. COM 267906105 690 306500.000SH SOLE 306500.000 Dynegy Inc. COM 26816Q101 2527 520000.000SH SOLE 520000.000 EResearch COM 29481V108 15383 1148835.000SH SOLE 1145300.000 Eagle Materials Inc Cl B COM 26969P207 9873 109100.845SH SOLE 109057.845 El Paso Corporation COM 28336l109 9253 803234.000SH SOLE 803234.000 Exelon Corp. COM 30161N101 10571 205950.000SH SOLE 205950.000 Exxon Mobil Corp. COM 30231G102 281 4883.000 SH SOLE 3963.000 Fannie Mae COM 313586109 91969 1574813.000SH SOLE 1572943.000 Fidelity National Financial COM 316326107 66741 1870031.000SH SOLE 1866592.000 Gabelli Asset Management COM 36239Y102 5518 124860.000SH SOLE 124860.000 General Electric COM 369604103 854 24649.000SH SOLE 23649.000 Graco Inc. COM 384109104 7473 219336.000SH SOLE 219336.000 Harley Davidson Inc. COM 412822108 20966 422696.000SH SOLE 422696.000 Houston Exploration COM 442120101 38683 729180.000SH SOLE 728650.000 Intel Corp COM 458140100 496 19068.158SH SOLE 19068.158 International Business Machine COM 459200101 11048 148895.910SH SOLE 148895.910 Johnson & Johnson COM 478160104 83127 1278878.000SH SOLE 1276688.000 LEAP WIRELESS INTL INC COM 521863308 5550 200000.000SH SOLE 200000.000 LENNAR CORP CL A COM 526057104 1518 23925.000SH SOLE 22065.000 Lamson & Sessions COM 513696104 3995 338000.000SH SOLE 338000.000 MARSHALL EDWARDS INC COM COM 572322303 539 75607.000SH SOLE 75607.000 MAVERICK TUBE CORP COM 577914104 21043 706155.000SH SOLE 701095.000 Masco Corp COM 574599106 36470 1148290.386SH SOLE 1144780.386 Mastec Inc. COM 576323109 6754 767530.000SH SOLE 767040.000 Meritage Corp. COM 59001A102 86548 1088660.000SH SOLE 1088660.000 Merrill Lynch COM 590188108 71443 1298725.000SH SOLE 1296250.000 Metris Companies COM 591598107 1880 130000.000SH SOLE 130000.000 Mohawk Industries, Inc. COM 608190104 41336 501046.000SH SOLE 500926.000 Monaco Coach COM 60886R103 2846 165550.000SH SOLE 165550.000 Morgan Stanley COM 617446448 13936 265590.000SH SOLE 265440.000 NOVAGOLD RES INC COM NEW COM 66987E206 2175 284700.000SH SOLE 284700.000 NVR Inc. COM 62944T105 105357 130070.000SH SOLE 130070.000 Nabors Industries LTD New (Ber COM G6359F103 88136 1453915.000SH SOLE 1450570.000 National RV Holdings COM 637277104 3897 487786.000SH SOLE 487786.000 Nextel Communications A COM 65332V103 25196 779829.000SH SOLE 779829.000 Novogen LTD COM 67010F103 4524 250360.000SH SOLE 250360.000 OCA INC COM 67083Q101 1778 945860.000SH SOLE 945860.000 PHH CORP COM 693320202 2632 102330.000SH SOLE 102330.000 PPL CORP COM COM 69351T106 17814 300000.000SH SOLE 300000.000 Patterson Energy Inc. COM 703481101 77890 2798790.000SH SOLE 2791020.000 Pfizer Inc COM 717081103 75643 2742660.000SH SOLE 2739260.000 Photon Dynamics Inc. COM 719364101 3580 173700.000SH SOLE 173700.000 Polaris Industries, Inc. COM 731068102 30252 560220.000SH SOLE 560080.000 Procter & Gamble Co COM 742718109 109 2072.000 SH SOLE 2072.000 Pulte Homes, Inc. COM 745867101 27257 323530.000SH SOLE 323530.000 R G Barry Corp COM 068798107 1563 322200.000SH SOLE 322200.000 Rush Enterprises CLA COM 781846209 3037 226605.000SH SOLE 226605.000 Rush Enterprises CLB COM 781846308 3795 283005.000SH SOLE 283005.000 SANOFI-AVENTIS-ADR COM 80105N105 19163 467500.000SH SOLE 467500.000 Stanley Furniture Inc New COM 854305208 20824 847870.000SH SOLE 847870.000 Telefonos De Mexico COM 879403780 58139 3077740.000SH SOLE 3075130.000 Terex Corp Del COM 880779103 9166 232650.000SH SOLE 232650.000 Texas Industries Inc. COM 882491103 13159 234025.451SH SOLE 234025.451 Thor Industries Inc. COM 885160101 42288 1345465.000SH SOLE 1341420.000 Toll Brothers Inc. COM 889478103 86705 853820.000SH SOLE 852920.000 Tyco International LTD COM 902124106 39402 1349400.364SH SOLE 1349400.364 U S Bancorp Del New COM 902973304 74 2530.000 SH SOLE 1030.000 UTStarcom, Inc. COM 918076100 6959 929144.000SH SOLE 929144.000 United Technologies Corp. COM 913017109 237 4620.000 SH SOLE 3620.000 UnitedHealth Group Inc. COM 91324P102 73626 1412085.000SH SOLE 1408385.000 Washington Mutual Inc. COM 939322103 35901 882297.000SH SOLE 881257.000 Whirlpool Corp COM 963320106 39248 559810.000SH SOLE 557905.000 Winnebago Inds. Inc. COM 974637100 34064 1040120.000SH SOLE 1036740.000 Wyeth COM 983024100 31 700.000 SH SOLE 700.000 YUM BRANDS INC COM COM 988498101 25316 486100.000SH SOLE 486100.000