PENSKE CORP
13F-HR, 2000-11-14
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<PAGE>   1

                              UNITED STATES
                   SECURITIES AND EXCHANGE COMMISSION
                         WASHINGTON, D.C. 20549

                                FORM 13F

Report for the Calendar Year or Quarter Ended:       YEAR ENDED SEPT. 30, 2000
                                                     -------------------------

Check here if Amendment  /  /     Amendment Number:
                                                   -----------------------------

This Amendment (Check only one):      /  /      is a restatement
                                      /  /      adds now holdings entries

INSTITUTIONAL INVESTMENT MANAGER FILING THIS REPORT:
----------------------------------------------------

Name:        PENSKE CORPORATION
             ------------------

Address:     13400 WEST OUTER DRIVE, DETROIT, MICHIGAN, 48239
             ------------------------------------------------

Form 13F File Number:   28-05645
                        --------

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:    ROBERT H. KURNICK, JR.
         ----------------------

Title:   EXECUTIVE VICE PRESIDENT
         ------------------------

Phone:   313-592-7550
         ------------

SIGNATURE, PLACE, AND DATE OF SIGNING:
--------------------------------------



/S/ ROBERT H. KURNICK, JR.          DETROIT, MI              NOVEMBER 13, 2000
---------------------------         --------------------     -----------------
(Signature)                         (City, State)            (Date)




                                                                       1
<PAGE>   2
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).)

REPORT SUMMARY:

Number of Other Included Managers:                        1
                                         ---------------------------------------

Form 13F Information Table Entry Total:                   1
                                         ---------------------------------------

Form 13F Information Table Value Total:  $          177,552
                                         ---------------------------------------
                                                    (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 the report.

(If there are no entries in this list, state "NONE" and omit the column
headings and list entries).

No.               Form 13F File Number               Name

 1                                                   PENSKE PERFORMANCE, INC.
---               ---------------------------        ------------------------


                                                                       2

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<TABLE>
<CAPTION>

------------------------------------------------------------------------------------------------------------------------------------
                                                                 AMOUNT AND
                                                               TYPE OF SECURITY                               VOTING AUTHORITY
-------------- ------- ----------- ----------  ----------------------------------------- ------------- -----------------------------
NAME OF         TITLE     CUSIP       VALUE      SHARES    SH/     PUT/   INVESTMENT       OTHER         SOLE      SHARED    NONE
ISSUER           OF                  (X1000)     OR PRN    PRN     CALL   DISCRETION      MANAGERS
                CLASS                            AMOUNT
-------------- ------- ----------- ---------- ----------- ------- ------ -------------- ------------- ----------- ---------- -------
<S>            <C>     <C>         <C>        <C>         <C>     <C>    <C>            <C>           <C>         <C>        <C>

International
Speedway          A    460335 20 1  $177,552   4,552,621    SH              Defined          1         4,552,621
Corporation
-------------- ------- ----------- ---------- ----------- ------- ------ -------------- ------------- ----------- ---------- -------
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</TABLE>

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