0000865733-11-000023.txt : 20110804 0000865733-11-000023.hdr.sgml : 20110804 20110804151355 ACCESSION NUMBER: 0000865733-11-000023 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110630 FILED AS OF DATE: 20110804 DATE AS OF CHANGE: 20110804 EFFECTIVENESS DATE: 20110804 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION CENTRAL INDEX KEY: 0000833018 IRS NUMBER: 530116145 STATE OF INCORPORATION: DC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-02316 FILM NUMBER: 111010255 BUSINESS ADDRESS: STREET 1: 4301 WILSON BLVD CITY: ARLINGTON STATE: VA ZIP: 22203 BUSINESS PHONE: 7039075500 MAIL ADDRESS: STREET 1: 4301 WILSON BLVD CITY: ARLINGTON STATE: VA ZIP: 22203 13F-HR 1 form13fhrq22011nreca.txt FORM 13F HOLDINGS REPORT FQE 6-30-2011 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 30, 2011 ------------------ 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: National Rural Electric Cooperative Association ----------------------------------------------- Address: 4301 Wilson Boulevard ----------------------------------------------- Arlington, Virginia 22203 ----------------------------------------------- Form 13F File Number: 028-02316 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: Peter R. Morris ------------------------------------------- Title: Vice President and Chief Investment Officer ------------------------------------------- Phone: 703-907-6030 ------------------------------------------- Signature, Place and Date of Signing: /s/ Peter R. Morris Arlington, Virgina August 4, 2011 ------------------- ------------------ ----------------- [Signature] [City, State] [Date] Report Type (Check only one): [X] 13F HOLDINGS REPORT [ ] 13F NOTICE [ ] 13F COMBINATION REPORT FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 --------------------- Form 13F Information Table Entry Total: 174 --------------------- Form 13F Information Table Value Total: 3,222,075 --------------------- (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. No. Form 13F File Number Name --- -------------------- ----------------------- 1 028-04894 RE Advisers Corporation FORM 13F INFORMATION TABLE AS OF 6/30/2011 REPORTING MANAGER: National Rural Electric Cooperative Association ==================================================================================================================================== Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 -------- -------- -------- -------- -------- -------- -------- -------- Title Shares or of Value Principal SH/ PUT/ Investment Other Voting Authority Name of Issuer Class Cusip (x$1,000) Amount PRN CALL Discretion Managers Sole Shared None ==================================================================================================================================== ABBOTT LABORATORIES COM 002824100 63,302 1,203,000 SH DEFINED n/a 1,203,000 ABBOTT LABORATORIES COM 002824100 21,627 411,000 SH DEFINED 1 411,000 ALLSTATE CORP COM 020002101 31,825 1,042,400 SH DEFINED n/a 1,042,400 ALLSTATE CORP COM 020002101 10,838 355,000 SH DEFINED 1 355,000 APPLIED INDUSTRIAL TECH INC COM 03820C105 13,952 391,785 SH DEFINED n/a 391,785 APPLIED INDUSTRIAL TECH INC COM 03820C105 11,463 321,900 SH DEFINED 1 321,900 ASSET ACCEPTANCE CAPITAL COM 04543P100 1,964 486,198 SH DEFINED n/a 486,198 ASSET ACCEPTANCE CAPITAL COM 04543P100 682 168,800 SH DEFINED 1 168,800 ASTORIA FINANCIAL CORP COM 046265104 1,951 152,500 SH DEFINED n/a 152,500 AVERY DENNISON CORP COM 053611109 61,178 1,583,700 SH DEFINED n/a 1,583,700 AVERY DENNISON CORP COM 053611109 18,701 484,100 SH DEFINED 1 484,100 BAKER HUGHES INC COM 057224107 74,984 1,033,400 SH DEFINED n/a 1,033,400 BAKER HUGHES INC COM 057224107 14,149 195,000 SH DEFINED 1 195,000 BANK OF AMERICA CORP COM 060505104 11,758 1,072,760 SH DEFINED n/a 1,072,760 BANK OF AMERICA CORP COM 060505104 3,547 323,600 SH DEFINED 1 323,600 BELDEN INC COM 077454106 10,096 289,600 SH DEFINED n/a 289,600 BELDEN INC COM 077454106 5,456 156,500 SH DEFINED 1 156,500 BEMIS INC COM 081437105 59,362 1,757,300 SH DEFINED n/a 1,757,300 BEMIS INC COM 081437105 15,052 445,600 SH DEFINED 1 445,600 BRINKER INTERNATIONAL INC COM 109641100 16,317 667,100 SH DEFINED n/a 667,100 BRINKER INTERNATIONAL INC COM 109641100 4,525 185,000 SH DEFINED 1 185,000 BRISTOL MYERS SQUIBB CO COM 110122108 82,110 2,835,300 SH DEFINED n/a 2,835,300 BRISTOL MYERS SQUIBB CO COM 110122108 24,694 852,700 SH DEFINED 1 852,700 CARDINAL FINANCIAL CORP COM 14149F109 4,301 392,800 SH DEFINED n/a 392,800 CARDINAL FINANCIAL CORP COM 14149F109 2,627 239,900 SH DEFINED 1 239,900 CARLISLE COS INC COM 142339100 17,285 351,100 SH DEFINED n/a 351,100 CARLISLE COS INC COM 142339100 4,869 98,900 SH DEFINED 1 98,900 CHEVRON CORP COM 166764100 65,201 634,000 SH DEFINED n/a 634,000 CHEVRON CORP COM 166764100 21,185 206,000 SH DEFINED 1 206,000 CHUBB CORP COM 171232101 55,473 886,000 SH DEFINED n/a 886,000 CHUBB CORP COM 171232101 8,014 128,000 SH DEFINED 1 128,000 CIMAREX ENERGY CO COM 171798101 19,728 219,400 SH DEFINED n/a 219,400 CIMAREX ENERGY CO COM 171798101 5,341 59,400 SH DEFINED 1 59,400 CISCO SYSTEMS INC COM 17275R102 60,614 3,883,000 SH DEFINED n/a 3,883,000 CISCO SYSTEMS INC COM 17275R102 16,656 1,067,000 SH DEFINED 1 1,067,000 CLARCOR INC COM 179895107 11,673 246,900 SH DEFINED n/a 246,900 CLARCOR INC COM 179895107 4,118 87,100 SH DEFINED 1 87,100 COMMERCE BANCSHARES INC COM 200525103 17,503 407,046 SH DEFINED n/a 407,046 COMMERCE BANCSHARES INC COM 200525103 1,478 34,374 SH DEFINED 1 34,374 CONOCOPHILLIPS COM 20825C104 74,265 987,700 SH DEFINED n/a 987,700 CONOCOPHILLIPS COM 20825C104 20,301 270,000 SH DEFINED 1 270,000 COOPER TIRE & RUBBER CO COM 216831107 37,129 1,876,162 SH DEFINED n/a 1,876,162 COOPER TIRE & RUBBER CO COM 216831107 14,120 713,500 SH DEFINED 1 713,500 CORE MARK HOLDING CO INC COM 218681104 3,234 90,600 SH DEFINED n/a 90,600 CORE MARK HOLDING CO INC COM 218681104 2,053 57,500 SH DEFINED 1 57,500 COVIDIEN PLC SHS G2554F113 36,085 677,900 SH DEFINED n/a 677,900 COVIDIEN PLC SHS G2554F113 11,394 214,050 SH DEFINED 1 214,050 CRACKER BARREL OLD CTRY STOR COM 22410J106 10,819 219,400 SH DEFINED n/a 219,400 CRACKER BARREL OLD CTRY STOR COM 22410J106 5,646 114,500 SH DEFINED 1 114,500 DEAN FOODS CO COM 242370104 45,303 3,692,200 SH DEFINED n/a 3,692,200 DEAN FOODS CO COM 242370104 16,973 1,383,300 SH DEFINED 1 1,383,300 DELL INC COM 24702R101 51,344 3,080,000 SH DEFINED n/a 3,080,000 DELL INC COM 24702R101 22,088 1,325,000 SH DEFINED 1 1,325,000 DILLARDS INC CL A 254067101 72,965 1,399,400 SH DEFINED n/a 1,399,400 DILLARDS INC CL A 254067101 11,221 215,200 SH DEFINED 1 215,200 DOW CHEM CO COM 260543103 76,766 2,132,400 SH DEFINED n/a 2,132,400 DOW CHEM CO COM 260543103 25,340 703,900 SH DEFINED 1 703,900 EL PASO CORP COM 28336L109 48,662 2,408,988 SH DEFINED n/a 2,408,988 EL PASO CORP COM 28336L109 14,672 726,312 SH DEFINED 1 726,312 FLOWSERVE CORP COM 34354P105 36,547 332,581 SH DEFINED n/a 332,581 FLOWSERVE CORP COM 34354P105 12,506 113,800 SH DEFINED 1 113,800 FREDS INC CL A 356108100 1,180 81,800 SH DEFINED n/a 81,800 FREDS INC CL A 356108100 2,784 192,900 SH DEFINED 1 192,900 GENERAL ELECTRIC CO COM 369604103 49,432 2,621,000 SH DEFINED n/a 2,621,000 GENERAL ELECTRIC CO COM 369604103 13,617 722,000 SH DEFINED 1 722,000 GENUINE PARTS CO COM 372460105 65,356 1,201,400 SH DEFINED n/a 1,201,400 GENUINE PARTS CO COM 372460105 17,702 325,400 SH DEFINED 1 325,400 GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 44,144 1,029,000 SH DEFINED n/a 1,029,000 GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 15,444 360,000 SH DEFINED 1 360,000 GORMAN RUPP CO COM 383082104 4,406 133,750 SH DEFINED n/a 133,750 GORMAN RUPP CO COM 383082104 3,680 111,725 SH DEFINED 1 111,725 HELMERICH & PAYNE INC COM 423452101 8,834 133,600 SH DEFINED n/a 133,600 HELMERICH & PAYNE INC COM 423452101 2,314 35,000 SH DEFINED 1 35,000 HEWLETT PACKARD CO COM 428236103 46,283 1,271,500 SH DEFINED n/a 1,271,500 HEWLETT PACKARD CO COM 428236103 14,342 394,000 SH DEFINED 1 394,000 HONEYWELL INTERNATIONAL INC COM 438516106 47,040 789,400 SH DEFINED n/a 789,400 HONEYWELL INTERNATIONAL INC COM 438516106 17,168 288,100 SH DEFINED 1 288,100 HOSPIRA INC COM 441060100 49,221 868,700 SH DEFINED n/a 868,700 HOSPIRA INC COM 441060100 21,100 372,400 SH DEFINED 1 372,400 HUNTINGTON INGALLS INDS INC COM 446413106 4,209 122,000 SH DEFINED n/a 122,000 HUNTINGTON INGALLS INDS INC COM 446413106 1,782 51,653 SH DEFINED 1 51,653 INTEL CORP COM 458140100 79,503 3,587,700 SH DEFINED n/a 3,587,700 INTEL CORP COM 458140100 25,551 1,153,000 SH DEFINED 1 1,153,000 ISHARES TR RUSSELL 2000 464287655 77,004 930,000 SH DEFINED n/a 930,000 ISHARES TR RUSL 2000 VALU 464287630 7,341 100,000 SH DEFINED n/a 100,000 ISHARES TR RUSL 2000 VALU 464287630 6,974 95,000 SH DEFINED 1 95,000 ISHARES TR S&P SMLCAP 600 464287804 7,332 100,000 SH DEFINED n/a 100,000 JPMORGAN CHASE & CO COM 46625H100 70,327 1,717,800 SH DEFINED n/a 1,717,800 JPMORGAN CHASE & CO COM 46625H100 18,652 455,600 SH DEFINED 1 455,600 KNIGHT TRANSPORTATION INC COM 499064103 5,783 340,400 SH DEFINED n/a 340,400 KNIGHT TRANSPORTATION INC COM 499064103 1,922 113,100 SH DEFINED 1 113,100 LEGG MASON INC COM 524901105 3,360 102,555 SH DEFINED n/a 102,555 MANITOWOC INC COM 563571108 18,010 1,069,500 SH DEFINED n/a 1,069,500 MANITOWOC INC COM 563571108 5,231 310,600 SH DEFINED 1 310,600 MANTECH INTERNATIONAL CORP CL A 564563104 6,841 154,000 SH DEFINED n/a 154,000 MANTECH INTERNATIONAL CORP CL A 564563104 2,896 65,200 SH DEFINED 1 65,200 MARATHON OIL CORP COM 565849106 65,449 1,242,384 SH DEFINED n/a 1,242,384 MARATHON OIL CORP COM 565849106 20,387 387,000 SH DEFINED 1 387,000 MERCK & CO INC COM 58933Y105 24,066 681,946 SH DEFINED n/a 681,946 MERCK & CO INC COM 58933Y105 7,306 207,034 SH DEFINED 1 207,034 MIDDLEBURG FINANCIAL CORP COM 596094102 2,154 144,200 SH DEFINED n/a 144,200 MIDDLEBURG FINANCIAL CORP COM 596094102 1,245 83,300 SH DEFINED 1 83,300 MOTOROLA MOBILITY HLDGS INC COM 620097105 10,239 464,575 SH DEFINED n/a 464,575 MOTOROLA MOBILITY HLDGS INC COM 620097105 1,755 79,637 SH DEFINED 1 79,637 MOTOROLA SOLUTIONS INC COM 620076307 24,445 530,942 SH DEFINED n/a 530,942 MOTOROLA SOLUTIONS INC COM 620076307 4,190 91,013 SH DEFINED 1 91,013 NATIONAL BANKSHARES INC VA COM 634865109 2,594 103,600 SH DEFINED n/a 103,600 NATIONAL BANKSHARES INC VA COM 634865109 2,153 86,000 SH DEFINED 1 86,000 NORDSTROM INC COM 655664100 8,449 180,000 SH DEFINED n/a 180,000 NORDSTROM INC COM 655664100 4,225 90,000 SH DEFINED 1 90,000 O CHARLEYS INC COM 670823103 1,542 210,900 SH DEFINED n/a 210,900 O CHARLEYS INC COM 670823103 151 20,660 SH DEFINED 1 20,660 OLIN CORP COM PAR $1 680665205 10,847 478,700 SH DEFINED n/a 478,700 OLIN CORP COM PAR $1 680665205 5,781 255,100 SH DEFINED 1 255,100 PARKER HANNIFIN CORP COM 701094104 83,028 925,200 SH DEFINED n/a 925,200 PARKER HANNIFIN CORP COM 701094104 23,009 256,400 SH DEFINED 1 256,400 PFIZER INC COM 717081103 57,556 2,794,000 SH DEFINED n/a 2,794,000 PFIZER INC COM 717081103 23,299 1,131,000 SH DEFINED 1 1,131,000 POLYONE CORPORATION COM 73179P106 1,501 97,000 SH DEFINED n/a 97,000 POLYONE CORPORATION COM 73179P106 1,949 126,000 SH DEFINED 1 126,000 POLYPORE INTERNATIONAL INC COM 73179V103 5,766 85,000 SH DEFINED n/a 85,000 POLYPORE INTERNATIONAL INC COM 73179V103 1,343 19,800 SH DEFINED 1 19,800 PRINCIPAL FINL GROUP INC COM 74251V102 26,532 872,200 SH DEFINED n/a 872,200 PRINCIPAL FINL GROUP INC COM 74251V102 1,691 55,600 SH DEFINED 1 55,600 QEP RESOURCES INC COM 74733V100 41,328 988,000 SH DEFINED n/a 988,000 QEP RESOURCES INC COM 74733V100 12,449 297,600 SH DEFINED 1 297,600 QUESTAR CORP COM 748356102 17,498 988,000 SH DEFINED n/a 988,000 QUESTAR CORP COM 748356102 5,271 297,600 SH DEFINED 1 297,600 REGAL BELOIT CORP COM 758750103 3,906 58,500 SH DEFINED n/a 58,500 REGAL BELOIT CORP COM 758750103 2,905 43,500 SH DEFINED 1 43,500 ROFIN SINAR TECHNOLOGIES INC COM 775043102 13,667 400,200 SH DEFINED n/a 400,200 ROFIN SINAR TECHNOLOGIES INC COM 775043102 5,413 158,500 SH DEFINED 1 158,500 ROWAN COMPANIES INC COM 779382100 6,792 175,000 SH DEFINED n/a 175,000 RUDDICK CORP COM 781258108 3,845 88,300 SH DEFINED n/a 88,300 RUDDICK CORP COM 781258108 2,874 66,000 SH DEFINED 1 66,000 SAIC INC COM 78390X101 22,473 1,336,110 SH DEFINED n/a 1,336,110 SAIC INC COM 78390X101 9,655 574,000 SH DEFINED 1 574,000 SALLY BEAUTY HOLDINGS INC COM 79546E104 3,572 208,900 SH DEFINED n/a 208,900 SALLY BEAUTY HOLDINGS INC COM 79546E104 1,949 114,000 SH DEFINED 1 114,000 SM ENERGY CO COM 78454L100 15,401 209,600 SH DEFINED n/a 209,600 SM ENERGY CO COM 78454L100 3,601 49,000 SH DEFINED 1 49,000 SMUCKER J M CO COM 832696405 3,822 50,000 SH DEFINED n/a 50,000 SMUCKER J M CO COM 832696405 14,502 189,721 SH DEFINED 1 189,721 SOUTHCOAST FINANCIAL CORP COM 84129R100 379 117,370 SH DEFINED n/a 117,370 SOUTHCOAST FINANCIAL CORP COM 84129R100 183 56,507 SH DEFINED 1 56,507 SOUTHWEST AIRLINES CO COM 844741108 33,111 2,899,343 SH DEFINED n/a 2,899,343 SOUTHWEST AIRLINES CO COM 844741108 9,845 862,100 SH DEFINED 1 862,100 STANDEX INTL CORP COM 854231107 7,459 243,200 SH DEFINED n/a 243,200 STANDEX INTL CORP COM 854231107 598 19,500 SH DEFINED 1 19,500 STERIS CORP COM 859152100 12,337 352,700 SH DEFINED n/a 352,700 STERIS CORP COM 859152100 5,460 156,100 SH DEFINED 1 156,100 TE CONNECTIVITY LTD REG SHS H84989104 34,560 940,150 SH DEFINED n/a 940,150 TE CONNECTIVITY LTD REG SHS H84989104 10,100 274,750 SH DEFINED 1 274,750 THOMAS & BETTS CORP COM 884315102 11,449 212,600 SH DEFINED n/a 212,600 THOMAS & BETTS CORP COM 884315102 1,346 25,000 SH DEFINED 1 25,000 TIM HORTONS INC COM 88706M103 23,506 481,580 SH DEFINED n/a 481,580 TRIUMPH GROUP INC COM 896818101 18,124 182,000 SH DEFINED n/a 182,000 TRIUMPH GROUP INC COM 896818101 6,811 68,400 SH DEFINED 1 68,400 TYCO INTERNATIONAL LTD SHS H89128104 26,635 538,850 SH DEFINED n/a 538,850 TYCO INTERNATIONAL LTD SHS H89128104 8,339 168,700 SH DEFINED 1 168,700 UNITED NATURAL FOODS INC COM 911163103 13,390 313,800 SH DEFINED n/a 313,800 UNITED NATURAL FOODS INC COM 911163103 5,317 124,600 SH DEFINED 1 124,600 UNUM GROUP COM 91529Y106 9,832 385,857 SH DEFINED n/a 385,857 VALLEY NATIONAL BANCORP COM 919794107 9,181 674,548 SH DEFINED n/a 674,548 VALLEY NATIONAL BANCORP COM 919794107 1,590 116,791 SH DEFINED 1 116,791 WELLS FARGO & CO COM 949746101 20,315 724,000 SH DEFINED n/a 724,000 WELLS FARGO & CO COM 949746101 4,742 169,000 SH DEFINED 1 169,000 WERNER ENTERPRISES INC COM 950755108 4,542 181,300 SH DEFINED n/a 181,300 WERNER ENTERPRISES INC COM 950755108 822 32,800 SH DEFINED 1 32,800 WESTERN DIGITAL CORP COM 958102105 6,636 182,400 SH DEFINED n/a 182,400 WESTERN DIGITAL CORP COM 958102105 3,437 94,483 SH DEFINED 1 94,483 WESTLAKE CHEMICAL CORP COM 960413102 20,620 397,300 SH DEFINED n/a 397,300 WESTLAKE CHEMICAL CORP COM 960413102 6,005 115,700 SH DEFINED 1 115,700 WINN DIXIE STORES INC COM 974280307 32 3,742 SH DEFINED 1 3,742 ========= Total: 3,222,075