13F-HR 1 q406.txt 123106 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 012/31/06 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, 2007 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: 83 Form 13F Information Table Value Total: 3,361,133 (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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- ------ AMR Corp. COM 001765106 5444 180090 SH Sole 180090 Alaska Air Group COM 011659109 1494 37815 SH Sole 37815 Allstate Insurance Grp. COM 020002101 162746 2499553 SH Sole 2499553 Altria Group Inc COM 02209S103 112091 1306122 SH Sole 1306122 American Express Co. COM 025816109 237 3910 SH Sole 3910 American International Group COM 026874107 134501 1876935 SH Sole 1876935 American Woodmark Corp COM 030506109 15632 373520 SH Sole 373520 Anadarko Petroleum Corp. COM 032511107 110303 2534545 SH Sole 2534545 BHP BILLITON LTD SPONSORED ADR COM 088606108 91601 2304435 SH Sole 2304435 Bank of America Corp COM 060505104 614 11505 SH Sole 11505 Beazer Homes Inc. COM 07556Q105 42743 909223 SH Sole 909223 Berkshire Hathaway CL B COM 084670207 312 85 SH Sole 85 Black & Decker Corp COM 091797100 43981 549974 SH Sole 549974 CHAPARRAL STL CO DEL COM COM 159423102 25601 578282 SH Sole 578282 Capital One Financial Corp. COM 14040H105 128855 1677362 SH Sole 1677362 Caterpillar COM 149123101 88825 1448314 SH Sole 1448314 Cemex S A Sponsor ADR New Rep COM 151290889 186979 5518853 SH Sole 5518853 Centex Corp COM 152312104 92400 1642084 SH Sole 1642084 ChevronTexaco Corp. COM 166764100 224 3045 SH Sole 3045 Cisco Systems Inc COM 17275R102 659 24099 SH Sole 24099 Citigroup Inc. COM 172967101 145439 2611107 SH Sole 2611107 ConocoPhillips COM 20825C104 143254 1991028 SH Sole 1991028 Countrywide Financial Corp. COM 222372104 157713 3715253 SH Sole 3715253 DEVON ENERGY CORP NEW COM COM 25179M103 104484 1557605 SH Sole 1557605 DOLLAR THRIFTY AUTOMOT COM COM 256743105 219 4800 SH Sole 4800 Dell Inc. COM 24702R101 307 12244 SH Sole 12244 EMBARQ CORP COM COM 29078E105 2458 46773 SH Sole 46773 Eagle Materials Inc COM 26969P108 13951 322719 SH Sole 322719 El Paso Corporation COM 28336l109 162 10609 SH Sole 10609 Exxon Mobil Corp. COM 30231G102 958 12497 SH Sole 12497 FIDELITY NATIONAL FINANCIAL-A COM 31620R105 56712 2374887 SH Sole 2374887 FIDELITY NATL INFO SVC COM COM 31620M106 42489 1059835 SH Sole 1059835 Fannie Mae COM 313586109 8777 147783 SH Sole 147783 General Electric COM 369604103 1525 40978 SH Sole 40978 Goldman Sachs Group Inc. COM 38141G104 1482 7435 SH Sole 7435 Goodyear Tire & Rubber COM 382550101 231 11000 SH Sole 11000 Graco Inc. COM 384109104 8639 218051 SH Sole 218051 Harley Davidson Inc. COM 412822108 29982 425460 SH Sole 425460 Home Depot COM 437076102 424 10554 SH Sole 10554 Houston Exploration COM 442120101 5005 96650 SH Sole 96650 Intel Corp COM 458140100 324 16000 SH Sole 16000 International Business Machine COM 459200101 14615 150438 SH Sole 150438 J.P. Morgan Chase & Co. COM 46625H100 477 9884 SH Sole 9884 Johnson & Johnson COM 478160104 137200 2078164 SH Sole 2078164 LONE STAR TECHNOLOGIES COM COM 542312103 2865 59175 SH Sole 59175 Lamson & Sessions COM 513696104 3348 138000 SH Sole 138000 Lowes Companies Inc. COM 548661107 285 9141 SH Sole 9141 MARSHALL EDWARDS INC COM COM 572322303 237 77397 SH Sole 77397 Masco Corp COM 574599106 30681 1027158 SH Sole 1027158 Meritage Corp. COM 59001A102 51520 1079635 SH Sole 1079635 Merrill Lynch COM 590188108 167787 1802224 SH Sole 1802224 Microsoft Corp COM 594918104 945 31641 SH Sole 31641 Mohawk Industries, Inc. COM 608190104 16396 219019 SH Sole 219019 Morgan Stanley COM 617446448 28787 353514 SH Sole 353514 NOVAGOLD RES INC COM NEW COM 66987E206 10891 634700 SH Sole 634700 NVR Inc. COM 62944T105 98711 153041 SH Sole 153041 Nabors Industries LTD New (Ber COM G6359F103 112645 3782587 SH Sole 3782587 National RV Holdings COM 637277104 1621 439350 SH Sole 439350 Novogen LTD COM 67010F103 2557 251710 SH Sole 251710 OPENTV CORP CL A COM G67543101 464 200000 SH Sole 200000 Patterson Energy Inc. COM 703481101 67473 2904574 SH Sole 2904574 Pfizer Inc COM 717081103 41048 1584881 SH Sole 1584881 Polaris Industries, Inc. COM 731068102 21169 452040 SH Sole 452040 Pulte Homes, Inc. COM 745867101 14897 449800 SH Sole 449800 RTI International Metals Inc. COM 74973W107 24800 317055 SH Sole 317055 Rush Enterprises CLA COM 781846209 3496 206605 SH Sole 206605 Rush Enterprises CLB COM 781846308 4466 283005 SH Sole 283005 Stanley Furniture Inc New COM 854305208 17922 835505 SH Sole 835505 Terex Corp Del COM 880779103 83287 1289669 SH Sole 1289669 Texas Industries Inc. COM 882491103 449 6990 SH Sole 6990 Thor Industries Inc. COM 885160101 73273 1665679 SH Sole 1665679 Toll Brothers Inc. COM 889478103 63526 1971010 SH Sole 1971010 U S Bancorp Del New COM 902973304 561 15510 SH Sole 15510 United Technologies Corp. COM 913017109 461 7380 SH Sole 7380 UnitedHealth Group Inc. COM 91324P102 131753 2452138 SH Sole 2452138 Wal-Mart Stores COM 931142103 392 8492 SH Sole 8492 Washington Mutual Inc. COM 939322103 58635 1288972 SH Sole 1288972 Wells Fargo & Co. COM 949746101 236 6640 SH Sole 6640 Whirlpool Corp COM 963320106 41515 500055 SH Sole 500055 Winnebago Inds. Inc. COM 974637100 30466 925729 SH Sole 925729 Wyeth COM 983024100 604 11863 SH Sole 11863 YRC WORLDWIDE INC COM 984249102 28567 757152 SH Sole 757152 Muhlenkamp Fund 962096103 325 3733.610 SH Sole 3733.6100