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SECURITIES AND EXCHANGE COMMISSION
FORM 13F-E
Report for the Calendar Year or Quarter Ended: 12/31/1997
Institutional Investment Manager:
MUHLENKAMP & COMPANY
12300 PERRY HIGHWAY
WEXFORD PA 15090
I REPRESENT THAT I AM AUTHORIZED TO SUBMIT THIS FORM AND
THAT ALL INFORMATION IN THIS FORM AND THE ATTACHMENTS TO IT
IS TRUE, CORRECT AND COMPLETE, AND I UNDERSTAND THAT ALL
REQUIRED ITEMS, STATEMENTS AND SCHEDULES ARE INTEGRAL PARTS
OF THIS FORM AND THAT THE SUBMISSION OF ANY AMENDMENT
REPRESENTS THAT ALL UNAMENDED ITEMS, STATEMENTS AND
SCHEDULES REMAIN TRUE, CORRECT AND COMPLETE AS PREVIOUSLY
SUBMITTED.
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES
EXCHANGE ACT OF 1934.
/S/ JOHN H. KUNKLE TREASURER 12/31/97
Muhlenkamp & Company
FORM 13F
December 31, 1997
Title Dis Voting ath
of --------------
Security ClassCUSIP Market ValQty. SolShareOtheMgrsSoleShare None
- ----------------------------------------------------------------------------
COMMON STOCK
- ------------
AGCO Corp. COM 001084102 5771025 197300 x 197300
AMR Corp. COM 001765106 4741650 36900 x 36900
Aeroquip-VickerCOM 896678109 5195772 105900 x 105900
Air Express IntCOM 009104100 3555736 116581 x 116581
Amer. Bankers ICOM 024456105 2200406 47900 x 47900
Applied MateriaCOM 0382221 325350 10800 x 10800
Armstrong WorldCOM 042476101 4043975 54100 x 54100
BE Aerospace InCOM 073302101 3547050 132600 x 132600
Burlington NortCOM 12189T104 3168332 34091 x 34091
Chase ManhattanCOM 16161A108 1829526 16708 x 16708
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Citicorp COM 173034109 3518123 27825 x 27825
Coach USA COM 18975L10 737000 22000 x 22000
Commercial Int COM 201709102 3479775 167700 x 167700
Computer Assoc COM 204912109 1301786 24562 x 24562
Conseco Inc. COM 208464107 9629130 211918 x 211918
Dana Corp COM 23581110 746937 15725 x 15725
Deere & Co. COM 244199105 2726100 46800 x 46800
Edwards, A. G. COM 281760108 2662733 66987 x 66987
Fannie Mae COM 313586109 8551689 149864 x 149864
Fidelity Nat'l COM 316326107 3429531 110186 x 110186
Ford COM 345370100 7041635 145000 x 145000
Frontier InsuraCOM 359081106 5734855 250704 x 250704
General ElectriCOM 369604103 2855461 38916 x 38916
Global Marine COM 379352404 1647923 67091 x 67091
Graco Inc. COM 384109104 3141712 84200 x 84200
Green Tree Fin COM 393505102 9588841 366154 x 366154
Griffon Corp. COM 398433102 2573707 175980 x 175980
Helix COM 423319102 3471000 178000 x 178000
Idex Corp COM 45167R104 2843184 81525 x 81525
Intel Corp COM 458140100 646300 9200 x 9200
International CCOM 458978103 83750 10000 x 10000
J. P. Morgan COM 616880100 242681 2150 x 2150
JLG Industries COM 466210101 2693637 190700 x 190700
Lincare HoldingCOM 532791100 570000 10000 x 10000
Lockheed MartinCOM 539830109 3000704 30464 x 30464
Loews Corp. COM 540424108 3820500 36000 x 36000
Matthews Inter'COM 577128101 510400 11600 x 11600
Mellon Bank COM 585509102 9530250 157200 x 157200
Merck & CompanyCOM 589331107 256838 2423 x 2423
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Merrill Lynch COM 590188108 6396663 87700 x 87700
Morgan Stanley COM 24204v105 3014784 50990 x 50990
NVR Inc. COM 62944T105 481250 22000 x 22000
National City CCOM 635405103 3221224 48992 x 48992
National RV HldCOM 637277104 9323350 283600 x 283600
Philip Morris COM 718154107 8175770 180680 x 180680
RMI Titanium CoCOM 74961H203 1899800 94400 x 94400
Reliance Group COM 759464100 4960700 351200 x 351200
SCIOS Inc COM 808905103 400000 40000 x 40000
Scotsman Inds COM 809340102 537625 22000 x 22000
Southwest SEC COM 845224104 5044155 197810 x 197810
Stanley FurnituCOM 854305208 4894850 175600 x 175600
Sunamerica Inc.COM 866930100 8214412 192150 x 192150
Superior IndustCOM 868168105 1876768 69996 x 69996
Travelers Inc. COM 894190107 703068 13050 x 13050
Vesta COM 925391104 4951875 83400 x 83400
Winsloew FurnitCOM 975377102 3122792 215365 x 215365
N & B Partners MUT 64122440 340808 12958 x 12958
Schwab Muni MUT 80850810 41117 41117 x 41117
William Blair MUT 09300110 314468 20487 x 20487
----------------
GRAND TOTAL 199330488
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Name, Title and Telephone Number of Person Submitting Report:
JOHN H KUNKLE TREASURER 4129355520
Signature, Place and Date of Signing:
/s/ JOHN H KUNKLE WEXFORD PA 01/28/1998
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VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
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