13F-HR/A 1 q403.txt AMEND FILING UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 12/31/2003 Check here if Amendment [X]; Amendment Number: 1 This Amendment (Check only one.): [X] 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 2, 2004 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: 96 Form 13F Information Table Value Total: 1,277,442 (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 8119 350850.000SH SOLE 350850.000 Abitibi-Consol COM 003924107 2271 280000.000SH SOLE 280000.000 Allstate Insurance Grp. COM 020002101 324 7525.000 SH SOLE 7525.000 Altria Group Inc COM 02209S103 32260 592803.000SH SOLE 592803.000 American Woodmark Corp COM 030506109 20363 369893.413SH SOLE 369893.413 Anadarko Petroleum Corp. COM 032511107 10333 202560.000SH SOLE 202560.000 Arkansas Best Corp COM 040790107 24825 789082.000SH SOLE 789082.000 Atmel Corp COM 049513104 5015 834400.000SH SOLE 834400.000 Beazer Homes Inc. COM 07556q105 30997 317400.769SH SOLE 317400.769 Berkshire Hathaway CL A COM 084670108 337 4.000 SH SOLE 4.000 Black & Decker Corp COM 091797100 26098 529150.000SH SOLE 529150.000 CAVCO INDS INC DEL COM COM 149568107 847 35276.000SH SOLE 35276.000 Calpine Corp. COM 131347106 14806 3078186.000SH SOLE 3078186.000 Capital One Financial Corp. COM 14040h105 44784 730690.000SH SOLE 730690.000 Cemex S A Ssponsor ADR New Rep COM 151290889 27107 1034626.424SH SOLE 1034626.424 Cendant COM 151313103 45456 2041135.000SH SOLE 2041135.000 Centex Corp COM 152312104 84704 786845.000SH SOLE 786845.000 Citigroup Inc. COM 172967101 43104 888016.030SH SOLE 888016.030 ConocoPhillips COM 20825C104 9996 152453.000SH SOLE 152453.000 Countrywide Financial Corp. COM 222372104 60230 794063.776SH SOLE 794063.776 Cytyc Corp Com COM 232946103 1388 100300.000SH SOLE 100300.000 D&K Healthcare COM 232861104 7446 549100.000SH SOLE 549100.000 DEVON ENERGY CORP NEW COM COM 25179M103 23723 414296.000SH SOLE 414296.000 Dynamic Oil & Gas Inc. COM 267906105 759 156500.000SH SOLE 156500.000 Dynegy Inc. COM 26816Q101 2226 520000.000SH SOLE 520000.000 EResearch COM 29481V108 1968 77400.000SH SOLE 77400.000 El Paso Corporation COM 28336l109 6606 806629.000SH SOLE 806629.000 EnPro Industries Inc. COM 29355X107 1814 130000.000SH SOLE 130000.000 Ethan Allen Interiors Inc COM 297602104 1256 30000.000SH SOLE 30000.000 Exelon Corp. COM 30161N101 6909 104110.000SH SOLE 104110.000 Exxon Mobil Corp. COM 30231G102 295 7201.000 SH SOLE 7201.000 Fannie Mae COM 313586109 49945 665397.000SH SOLE 665397.000 Fidelity National Financial COM 316326107 67211 1733143.000SH SOLE 1733143.000 Furniture Brands Intl. Inc. COM 360921100 261 8900.000 SH SOLE 8900.000 Gabelli Asset Management COM 36239Y102 4969 124860.000SH SOLE 124860.000 General Cable Corp COM 369300108 1027 126000.000SH SOLE 126000.000 General Electric COM 369604103 947 30554.000SH SOLE 30554.000 GlobalSantaFe Corp COM G3930E101 357 14360.000SH SOLE 14360.000 Goodrich Corp. COM 382388106 14983 504660.000SH SOLE 504660.000 Graco Inc. COM 384109104 6338 158061.000SH SOLE 158061.000 Harley Davidson Inc. COM 412822108 10694 224996.000SH SOLE 224996.000 Houston Exploration COM 442120101 11622 318230.000SH SOLE 318230.000 Intel Corp COM 458140100 893 27739.000SH SOLE 27739.000 International Business Machine COM 459200101 13986 150906.591SH SOLE 150906.591 JLG Industries Inc. COM 466210101 2246 147461.801SH SOLE 147461.801 LEAR CORP COM COM 521865105 14323 233540.000SH SOLE 233540.000 LENNAR CORP CL A COM 526057104 943 9820.000 SH SOLE 9820.000 Lamson & Sessions COM 513696104 2758 478000.000SH SOLE 478000.000 MARSHALL EDWARDS INC COM COM 572322303 589 50000.000SH SOLE 50000.000 Masco Corp COM 574599106 3635 132615.000SH SOLE 132615.000 Mastec Inc. COM 576323109 11050 746110.000SH SOLE 746110.000 Meritage Corp. COM 59001A102 36254 546730.000SH SOLE 546730.000 Merrill Lynch COM 590188108 15394 262470.000SH SOLE 262470.000 Metris Companies COM 591598107 1110 250000.000SH SOLE 250000.000 Microsoft Corp COM 594918104 241 8746.000 SH SOLE 8746.000 Mohawk Industries, Inc. COM 608190104 35912 509105.000SH SOLE 509105.000 Monaco Coach COM 60886R103 5163 216950.000SH SOLE 216950.000 Morgan Stanley COM 617446448 9791 169195.000SH SOLE 169195.000 NOVAGOLD RES INC COM NEW COM 66987e206 920 184700.000SH SOLE 184700.000 NVR Inc. COM 62944t105 60515 129860.000SH SOLE 129860.000 Nabors Industries LTD New (Ber COM G6359F103 23025 554830.000SH SOLE 554830.000 National RV Holdings COM 637277104 2989 300436.000SH SOLE 300436.000 Novogen LTD COM 67010F103 2184 80000.000SH SOLE 80000.000 Orthodontic Centers of America COM 68750p103 7182 892150.000SH SOLE 892150.000 PNC Financial COM 693475105 514 9400.000 SH SOLE 9400.000 PPL CORP COM COM 69351T106 13125 300000.000SH SOLE 300000.000 Patterson Energy Inc. COM 703481101 33498 1017240.000SH SOLE 1017240.000 Photon Dynamics Inc. COM 719364101 11034 274200.000SH SOLE 274200.000 Polaris Industries, Inc. COM 731068102 24877 280845.000SH SOLE 280845.000 Pulte Homes, Inc. COM 745867101 15112 161415.000SH SOLE 161415.000 R G Barry Corp COM 068798107 1414 322200.000SH SOLE 322200.000 Readers Digest Assoc. COM 755267101 3240 221000.000SH SOLE 221000.000 Rush Enterprises CLA COM 781846209 2761 282005.000SH SOLE 282005.000 Rush Enterprises CLB COM 781846308 2858 283005.000SH SOLE 283005.000 Salton COM 795757103 1670 128000.000SH SOLE 128000.000 Sovereign Bancorp Inc. COM 845905108 713 30000.000SH SOLE 30000.000 Stanley Furniture Inc New COM 854305208 13837 439285.000SH SOLE 439285.000 Superconductor Technologies In COM 867931107 2504 450420.000SH SOLE 450420.000 Superior Industries Intl Inc COM 868168105 19459 447120.000SH SOLE 447120.000 Supervalu Inc. COM 868536103 5203 182000.000SH SOLE 182000.000 Telefonos De Mexico COM 879403780 428 12960.000SH SOLE 12960.000 Tenet Healthcare Corp. COM 88033G100 3229 201200.000SH SOLE 201200.000 Terex Corp Del COM 880779103 3701 129950.000SH SOLE 129950.000 Texas Industries Inc. COM 882491103 8818 238325.451SH SOLE 238325.451 Thor Industries Inc. COM 885160101 16130 286900.000SH SOLE 286900.000 Toll Brothers Inc. COM 889478103 2716 68300.000SH SOLE 68300.000 Travelers Property Casualty CL COM 89420g109 333 19873.000SH SOLE 19873.000 Travelers Property Casualty CL COM 89420g406 693 40832.000SH SOLE 40832.000 Tyco International LTD COM 902124106 42018 1585580.000SH SOLE 1585580.000 United Technologies Corp. COM 913017109 205 2165.000 SH SOLE 2165.000 Washington Mutual Inc. COM 939322103 23957 597122.000SH SOLE 597122.000 Whirlpool Corp COM 963320106 23789 327445.000SH SOLE 327445.000 Wilsons Leather COM 972463103 171 49387.000SH SOLE 49387.000 Winnebago Inds. Inc. COM 974637100 32785 476870.000SH SOLE 476870.000 MARSHALL EDWARDS INC WT EXP 1 572322113 325 50000 SH SOLE 50000 Vanguard Health Care Fd Inv Sh MUT 921908307 502 4166.149 SH SOLE 4166.149