Muhlenkamp & Company

Muhlenkamp & Company as of Dec. 31, 2004

Portfolio Holdings for Muhlenkamp & Company

Muhlenkamp & Company holds 88 positions in its portfolio as reported in the December 2004 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
NVR (NVR) 4.7 $102M 133k 769.40
Centex Corp 4.4 $95M 1.6M 59.58
Countrywide Financial Corp 4.1 $89M 2.4M 37.01
Citi 4.1 $88M 1.8M 48.18
Fidelity National Financial In 4.0 $88M 1.9M 45.67
Black & Decker Corporation 3.3 $72M 813k 88.33
Capital One Financial (COF) 3.1 $68M 806k 84.21
Meritage Homes Corporation (MTH) 2.8 $62M 545k 112.70
Cemex SAB de CV (CX) 2.8 $60M 1.6M 36.42
Johnson & Johnson (JNJ) 2.7 $59M 933k 63.42
Cendant Corp. 2.6 $57M 2.4M 23.38
Allstate Corporation (ALL) 2.6 $56M 1.1M 51.72
Tyco Intl 2.5 $54M 1.5M 35.74
American Intl Group 2.4 $53M 806k 65.67
Toll Brothers (TOL) 2.4 $53M 770k 68.61
Altria (MO) 2.4 $52M 843k 61.10
Federal National Mortgage Association (FNMA) 2.3 $49M 692k 71.21
Merrill Lynch & Co. 2.2 $47M 791k 59.77
Mohawk Industries (MHK) 2.1 $46M 504k 91.25
Nabors Industries 2.1 $45M 886k 51.29
Beazer Homes USA 2.1 $45M 307k 146.21
Patterson-UTI Energy (PTEN) 2.0 $44M 2.3M 19.45
Winnebago Industries (WGO) 2.0 $43M 1.1M 39.06
Masco Corporation (MAS) 1.9 $42M 1.2M 36.53
Devon Energy Corporation (DVN) 1.9 $41M 1.1M 38.92
UnitedHealth (UNH) 1.9 $41M 463k 88.03
Thor Industries (THO) 1.8 $39M 1.1M 37.05
Polaris Industries (PII) 1.8 $38M 561k 68.02
ConocoPhillips (COP) 1.4 $31M 357k 86.83
American Woodmark Corporation (AMWD) 1.4 $30M 689k 43.68
Houston Exploration 1.4 $30M 523k 56.31
Anadarko Petroleum Corporation 1.2 $26M 403k 64.81
Whirlpool Corporation (WHR) 1.2 $26M 368k 69.21
Washington Mutual 1.1 $25M 588k 42.28
Lear Corp Com Stk 1.1 $25M 407k 61.01
Nextel Communications A 1.1 $23M 780k 30.01
UTStar 1.1 $23M 1.0M 22.15
Pulte (PHM) 1.0 $21M 325k 63.80
Stanley Furniture 0.9 $19M 429k 44.95
Sanofi-Aventis SA (SNY) 0.9 $19M 468k 40.05
PPL Corporation (PPL) 0.7 $16M 300k 53.28
International Business Machines (IBM) 0.7 $15M 152k 98.58
Texas Industries 0.7 $15M 236k 62.38
eResearch Technology 0.7 $14M 909k 15.85
Calpine Corp 0.6 $14M 3.5M 3.94
Harley-Davidson (HOG) 0.6 $14M 225k 60.75
Terex Corporation (TEX) 0.5 $11M 235k 47.65
Morgan Stanley (MS) 0.4 $9.4M 170k 55.52
Exelon Corporation (EXC) 0.4 $9.2M 209k 44.07
Eagle Materials Inc Cl B 0.4 $9.4M 111k 84.30
Photon Dynamics Inc Com Stk 0.4 $9.1M 374k 24.23
El Paso Corporation 0.4 $8.4M 803k 10.40
Gra (GGG) 0.4 $8.2M 219k 37.35
Atmi 0.4 $7.9M 351k 22.53
MasTec (MTZ) 0.4 $7.8M 770k 10.11
Gabelli Asset Mgmt Inc Class A 0.3 $6.1M 125k 48.52
Oca 0.3 $6.1M 959k 6.35
Telefonos de Mexico 0.3 $5.6M 145k 38.32
Leap Wireless International 0.2 $5.4M 200k 27.00
Rush Enterprises (RUSHB) 0.2 $4.9M 283k 17.31
National R V Hldgs 0.2 $4.6M 475k 9.63
Monaco Coach Corporation 0.2 $4.5M 217k 20.57
Atmel Corporation 0.2 $4.4M 1.1M 3.92
D&k Healthcare 0.2 $4.3M 532k 8.03
Rush Enterprises (RUSHA) 0.2 $3.7M 227k 16.23
Lamson & Sessions 0.1 $3.1M 338k 9.10
Dynegy 0.1 $2.4M 520k 4.62
Lennar Corporation (LEN) 0.1 $2.2M 39k 56.69
Opsware 0.1 $1.9M 258k 7.34
General Cable Corporation 0.1 $1.7M 126k 13.85
Novagold Resources Inc Cad (NG) 0.1 $1.8M 235k 7.75
Novogen 0.1 $1.8M 83k 22.08
Metris Companies 0.1 $1.7M 130k 12.75
Cavco Industries (CVCO) 0.1 $1.5M 34k 44.99
General Electric Company 0.1 $1.1M 31k 36.50
R.G. Barry 0.1 $1.1M 322k 3.52
Dynamic Oil & Gas 0.0 $886k 307k 2.89
Intel Corporation (INTC) 0.0 $601k 26k 23.40
Sovereign Bancorp 0.0 $677k 30k 22.57
U.S. Bancorp (USB) 0.0 $538k 17k 31.30
Exxon Mobil Corporation (XOM) 0.0 $431k 8.4k 51.24
Berkshire Hathaway (BRK.A) 0.0 $352k 4.00 88000.00
United Technologies Corporation 0.0 $337k 3.3k 103.22
Maverick Tube Corp 0.0 $536k 18k 30.32
Marshall Edwards Inc Com Stk 0.0 $463k 52k 8.94
Muhlenkamp Fund 0.0 $370k 4.7k 78.92
Bank of America Corporation (BAC) 0.0 $205k 4.4k 46.91
Dell 0.0 $257k 6.1k 42.08