0000865733-12-000037.txt : 20121113 0000865733-12-000037.hdr.sgml : 20121112 20121113170711 ACCESSION NUMBER: 0000865733-12-000037 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20120930 FILED AS OF DATE: 20121113 DATE AS OF CHANGE: 20121113 EFFECTIVENESS DATE: 20121113 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: 121199691 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 form13fhrq32012nreca.txt FORM 13F-HR FQE 9-30-2012 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2012 ------------------ 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 November 13, 2012 ------------------- ------------------ ----------------- [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: 180 --------------------- Form 13F Information Table Value Total: 3,400,334 --------------------- (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 9/30/2012 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 82,478 1,203,000 SH DEFINED n/a 1,203,000 ABBOTT LABORATORIES COM 002824100 28,178 411,000 SH DEFINED 1 411,000 ALLSTATE CORP COM 020002101 52,578 1,327,400 SH DEFINED n/a 1,327,400 ALLSTATE CORP COM 020002101 15,646 395,000 SH DEFINED 1 395,000 APPLIED INDUSTRIAL TECH INC COM 03820C105 17,682 426,785 SH DEFINED n/a 426,785 APPLIED INDUSTRIAL TECH INC COM 03820C105 15,947 384,902 SH DEFINED 1 384,902 ASSET ACCEPTANCE CAPITAL CORP COM 04543P100 4,304 576,998 SH DEFINED n/a 576,998 ASSET ACCEPTANCE CAPITAL CORP COM 04543P100 2,237 299,815 SH DEFINED 1 299,815 ASTORIA FINANCIAL CORP COM 046265104 1,507 152,500 SH DEFINED n/a 152,500 AVERY DENNISON CORP COM 053611109 58,183 1,828,500 SH DEFINED n/a 1,828,500 AVERY DENNISON CORP COM 053611109 17,218 541,100 SH DEFINED 1 541,100 BAKER HUGHES INC COM 057224107 46,741 1,033,400 SH DEFINED n/a 1,033,400 BAKER HUGHES INC COM 057224107 8,820 195,000 SH DEFINED 1 195,000 BANK OF AMERICA CORP COM 060505104 9,473 1,072,760 SH DEFINED n/a 1,072,760 BANK OF AMERICA CORP COM 060505104 2,857 323,600 SH DEFINED 1 323,600 BELDEN INC COM 077454106 13,948 378,200 SH DEFINED n/a 378,200 BELDEN INC COM 077454106 10,086 273,492 SH DEFINED 1 273,492 BEMIS COMPANY COM 081437105 55,302 1,757,300 SH DEFINED n/a 1,757,300 BEMIS COMPANY COM 081437105 14,023 445,600 SH DEFINED 1 445,600 BRINKER INTERNATIONAL INC COM 109641100 23,549 667,100 SH DEFINED n/a 667,100 BRINKER INTERNATIONAL INC COM 109641100 7,060 200,000 SH DEFINED 1 200,000 BRISTOL MYERS SQUIBB CO COM 110122108 93,650 2,774,800 SH DEFINED n/a 2,774,800 BRISTOL MYERS SQUIBB CO COM 110122108 28,779 852,700 SH DEFINED 1 852,700 CARDINAL FINANCIAL CORP COM 14149F109 7,419 518,800 SH DEFINED n/a 518,800 CARDINAL FINANCIAL CORP COM 14149F109 4,509 315,300 SH DEFINED 1 315,300 CARLISLE COS INC COM 142339100 18,229 351,100 SH DEFINED n/a 351,100 CARLISLE COS INC COM 142339100 6,521 125,600 SH DEFINED 1 125,600 CASS INFORMATION SYSTEMS INC COM 14808P109 537 12,800 SH DEFINED n/a 12,800 CASS INFORMATION SYSTEMS INC COM 14808P109 1,438 34,252 SH DEFINED 1 34,252 CHEVRON CORP COM 166764100 73,899 634,000 SH DEFINED n/a 634,000 CHEVRON CORP COM 166764100 24,011 206,000 SH DEFINED 1 206,000 CHUBB CORP COM 171232101 67,584 886,000 SH DEFINED n/a 886,000 CHUBB CORP COM 171232101 9,764 128,000 SH DEFINED 1 128,000 CIMAREX ENERGY CO COM 171798101 12,846 219,400 SH DEFINED n/a 219,400 CIMAREX ENERGY CO COM 171798101 3,478 59,400 SH DEFINED 1 59,400 CISCO SYSTEMS INC COM 17275R102 74,699 3,913,000 SH DEFINED n/a 3,913,000 CISCO SYSTEMS INC COM 17275R102 20,369 1,067,000 SH DEFINED 1 1,067,000 CLARCOR INC COM 179895107 11,019 246,900 SH DEFINED n/a 246,900 CLARCOR INC COM 179895107 3,887 87,100 SH DEFINED 1 87,100 COMMERCE BANCSHARES INC COM 200525103 17,237 427,396 SH DEFINED n/a 427,396 COMMERCE BANCSHARES INC COM 200525103 1,456 36,092 SH DEFINED 1 36,092 CONOCOPHILLIPS COM 20825C104 56,477 987,700 SH DEFINED n/a 987,700 CONOCOPHILLIPS COM 20825C104 15,439 270,000 SH DEFINED 1 270,000 COOPER TIRE & RUBBER CO COM 216831107 37,136 1,936,162 SH DEFINED n/a 1,936,162 COOPER TIRE & RUBBER CO COM 216831107 17,041 888,500 SH DEFINED 1 888,500 CORE MARK HOLDING CO INC COM 218681104 4,359 90,600 SH DEFINED n/a 90,600 CORE MARK HOLDING CO INC COM 218681104 2,766 57,500 SH DEFINED 1 57,500 COVIDIEN PLC SHS G2554F113 40,281 677,900 SH DEFINED n/a 677,900 COVIDIEN PLC SHS G2554F113 12,719 214,050 SH DEFINED 1 214,050 CRACKER BARREL OLD COUNTRY STORE COM 22410J106 16,066 239,400 SH DEFINED n/a 239,400 CRACKER BARREL OLD COUNTRY STORE COM 22410J106 9,503 141,600 SH DEFINED 1 141,600 DEAN FOODS CO COM 242370104 61,185 3,742,200 SH DEFINED n/a 3,742,200 DEAN FOODS CO COM 242370104 25,070 1,533,300 SH DEFINED 1 1,533,300 DELL INC COM 24702R101 32,711 3,317,500 SH DEFINED n/a 3,317,500 DELL INC COM 24702R101 13,065 1,325,000 SH DEFINED 1 1,325,000 DILLARDS INC CL A 254067101 66,374 917,788 SH DEFINED n/a 917,788 DILLARDS INC CL A 254067101 14,479 200,200 SH DEFINED 1 200,200 DOW CHEMICAL CO COM 260543103 63,926 2,207,400 SH DEFINED n/a 2,207,400 DOW CHEMICAL CO COM 260543103 20,819 718,900 SH DEFINED 1 718,900 DYCOM INDUSTRIES INC COM 267475101 3,573 248,500 SH DEFINED n/a 248,500 DYCOM INDUSTRIES INC COM 267475101 5,650 392,900 SH DEFINED 1 392,900 ENCORE CAPITAL GROUP INC COM 292554102 5,463 193,315 SH DEFINED n/a 193,315 ENCORE CAPITAL GROUP INC COM 292554102 6,489 229,600 SH DEFINED 1 229,600 FLOWSERVE CORP COM 34354P105 42,484 332,581 SH DEFINED n/a 332,581 FLOWSERVE CORP COM 34354P105 14,537 113,800 SH DEFINED 1 113,800 FREDS INC CL A 356108100 6,177 434,100 SH DEFINED n/a 434,100 FREDS INC CL A 356108100 8,818 619,700 SH DEFINED 1 619,700 GENERAL ELECTRIC CO COM 369604103 77,105 3,395,200 SH DEFINED n/a 3,395,200 GENERAL ELECTRIC CO COM 369604103 23,232 1,023,000 SH DEFINED 1 1,023,000 GENUINE PARTS CO COM 372460105 73,321 1,201,400 SH DEFINED n/a 1,201,400 GENUINE PARTS CO COM 372460105 19,859 325,400 SH DEFINED 1 325,400 GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 47,581 1,029,000 SH DEFINED n/a 1,029,000 GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 16,646 360,000 SH DEFINED 1 360,000 GORMAN RUPP CO COM 383082104 4,759 176,250 SH DEFINED n/a 176,250 GORMAN RUPP CO COM 383082104 6,808 252,158 SH DEFINED 1 252,158 HARRIS TEETER SUPERMARKETS I COM 414585109 14,130 363,800 SH DEFINED n/a 363,800 HARRIS TEETER SUPERMARKETS I COM 414585109 8,859 228,100 SH DEFINED 1 228,100 HELMERICH & PAYNE INC COM 423452101 6,361 133,600 SH DEFINED n/a 133,600 HELMERICH & PAYNE INC COM 423452101 1,666 35,000 SH DEFINED 1 35,000 HEWLETT PACKARD CO COM 428236103 46,617 2,732,500 SH DEFINED n/a 2,732,500 HEWLETT PACKARD CO COM 428236103 15,523 909,900 SH DEFINED 1 909,900 HONEYWELL INTERNATIONAL INC COM 438516106 47,167 789,400 SH DEFINED n/a 789,400 HONEYWELL INTERNATIONAL INC COM 438516106 17,214 288,100 SH DEFINED 1 288,100 HOSPIRA INC COM 441060100 38,667 1,178,140 SH DEFINED n/a 1,178,140 HOSPIRA INC COM 441060100 12,879 392,400 SH DEFINED 1 392,400 HUNTINGTON INGALLS INDS INC COM 446413106 8,284 197,000 SH DEFINED n/a 197,000 HUNTINGTON INGALLS INDS INC COM 446413106 6,173 146,805 SH DEFINED 1 146,805 INTEL CORP COM 458140100 81,369 3,587,700 SH DEFINED n/a 3,587,700 INTEL CORP COM 458140100 26,150 1,153,000 SH DEFINED 1 1,153,000 ISHARES TR RUSSELL 2000 464287655 28,376 340,000 SH DEFINED n/a 340,000 ISHARES TR RUSL 2000 VALU 464287630 7,394 100,000 SH DEFINED n/a 100,000 ISHARES TR RUSL 2000 VALU 464287630 15,675 212,000 SH DEFINED 1 212,000 ISHARES TR S&P SMLCAP 600 464287804 7,707 100,000 SH DEFINED n/a 100,000 ISHARES TR S&P SMLCAP 600 464287804 15,645 203,000 SH DEFINED 1 203,000 JPMORGAN CHASE & CO COM 46625H100 69,537 1,717,800 SH DEFINED n/a 1,717,800 JPMORGAN CHASE & CO COM 46625H100 18,443 455,600 SH DEFINED 1 455,600 KNIGHT TRANSPORTATION INC COM 499064103 4,996 349,400 SH DEFINED n/a 349,400 KNIGHT TRANSPORTATION INC COM 499064103 5,468 382,400 SH DEFINED 1 382,400 LEGG MASON INC COM 524901105 2,531 102,555 SH DEFINED n/a 102,555 MANITOWOC COMPANY INC COM 563571108 19,003 1,424,500 SH DEFINED n/a 1,424,500 MANITOWOC COMPANY INC COM 563571108 9,463 709,400 SH DEFINED 1 709,400 MANTECH INTERNATIONAL CORP CL A 564563104 9,163 381,800 SH DEFINED n/a 381,800 MANTECH INTERNATIONAL CORP CL A 564563104 9,844 410,183 SH DEFINED 1 410,183 MARATHON OIL CORP COM 565849106 45,815 1,549,384 SH DEFINED n/a 1,549,384 MARATHON OIL CORP COM 565849106 14,194 480,000 SH DEFINED 1 480,000 MARATHON PETROLEUM CORP COM 56585A102 33,911 621,192 SH DEFINED n/a 621,192 MARATHON PETROLEUM CORP COM 56585A102 10,563 193,500 SH DEFINED 1 193,500 MATTHEWS INTL CORP CL A 577128101 1,074 36,000 SH DEFINED n/a 36,000 MATTHEWS INTL CORP CL A 577128101 3,926 131,642 SH DEFINED 1 131,642 MERCK & CO INC COM 58933Y105 30,756 681,946 SH DEFINED n/a 681,946 MERCK & CO INC COM 58933Y105 9,337 207,034 SH DEFINED 1 207,034 MIDDLEBURG FINANCIAL CORP COM 596094102 3,305 186,100 SH DEFINED n/a 186,100 MIDDLEBURG FINANCIAL CORP COM 596094102 1,735 97,700 SH DEFINED 1 97,700 NATIONAL BANKSHARES INC VA COM 634865109 4,535 136,600 SH DEFINED n/a 136,600 NATIONAL BANKSHARES INC VA COM 634865109 4,372 131,700 SH DEFINED 1 131,700 NORDSTROM INC COM 655664100 9,932 180,000 SH DEFINED n/a 180,000 NORDSTROM INC COM 655664100 4,966 90,000 SH DEFINED 1 90,000 OLIN CORP COM PAR $1 680665205 11,934 549,200 SH DEFINED n/a 549,200 OLIN CORP COM PAR $1 680665205 9,206 423,668 SH DEFINED 1 423,668 PARKER HANNIFIN CORP COM 701094104 76,492 915,200 SH DEFINED n/a 915,200 PARKER HANNIFIN CORP COM 701094104 21,430 256,400 SH DEFINED 1 256,400 PFIZER INC COM 717081103 69,431 2,794,000 SH DEFINED n/a 2,794,000 PFIZER INC COM 717081103 28,105 1,131,000 SH DEFINED 1 1,131,000 PHILLIPS 66 COM 718546104 29,146 628,550 SH DEFINED n/a 628,550 PHILLIPS 66 COM 718546104 7,744 167,000 SH DEFINED 1 167,000 POLYONE CORPORATION COM 73179P106 6,462 390,000 SH DEFINED n/a 390,000 POLYONE CORPORATION COM 73179P106 5,954 359,310 SH DEFINED 1 359,310 POLYPORE INTERNATIONAL INC COM 73179V103 6,010 170,000 SH DEFINED n/a 170,000 POLYPORE INTERNATIONAL INC COM 73179V103 2,998 84,800 SH DEFINED 1 84,800 PRINCIPAL FINANCIAL GROUP INC COM 74251V102 19,882 738,000 SH DEFINED n/a 738,000 PRINCIPAL FINANCIAL GROUP INC COM 74251V102 1,498 55,600 SH DEFINED 1 55,600 QEP RESOURCES INC COM 74733V100 38,407 1,213,100 SH DEFINED n/a 1,213,100 QEP RESOURCES INC COM 74733V100 12,632 399,000 SH DEFINED 1 399,000 QUESTAR CORP COM 748356102 20,086 988,000 SH DEFINED n/a 988,000 QUESTAR CORP COM 748356102 6,050 297,600 SH DEFINED 1 297,600 REGAL BELOIT CORP COM 758750103 9,085 128,900 SH DEFINED n/a 128,900 REGAL BELOIT CORP COM 758750103 4,123 58,500 SH DEFINED 1 58,500 ROFIN SINAR TECHNOLOGIES INC COM 775043102 10,404 527,300 SH DEFINED n/a 527,300 ROFIN SINAR TECHNOLOGIES INC COM 775043102 10,084 511,100 SH DEFINED 1 511,100 ROWAN COMPANIES PLC SHS CL A G7665A101 5,910 175,000 SH DEFINED n/a 175,000 SAIC INC COM 78390X101 17,893 1,486,110 SH DEFINED n/a 1,486,110 SAIC INC COM 78390X101 7,513 624,000 SH DEFINED 1 624,000 SALLY BEAUTY HOLDINGS INC COM 79546E104 5,241 208,900 SH DEFINED n/a 208,900 SALLY BEAUTY HOLDINGS INC COM 79546E104 2,860 114,000 SH DEFINED 1 114,000 SM ENERGY CO COM 78454L100 11,342 209,600 SH DEFINED n/a 209,600 SM ENERGY CO COM 78454L100 2,651 49,000 SH DEFINED 1 49,000 SMUCKER J M CO COM 832696405 4,317 50,000 SH DEFINED n/a 50,000 SMUCKER J M CO COM 832696405 16,379 189,721 SH DEFINED 1 189,721 SOUTHCOAST FINANCIAL CORP COM 84129R100 487 117,370 SH DEFINED n/a 117,370 SOUTHCOAST FINANCIAL CORP COM 84129R100 235 56,507 SH DEFINED 1 56,507 SOUTHWEST AIRLINES CO COM 844741108 25,427 2,899,343 SH DEFINED n/a 2,899,343 SOUTHWEST AIRLINES CO COM 844741108 7,561 862,100 SH DEFINED 1 862,100 STANDEX INTERNATIONAL CORP COM 854231107 9,112 205,000 SH DEFINED n/a 205,000 STANDEX INTERNATIONAL CORP COM 854231107 867 19,500 SH DEFINED 1 19,500 STERIS CORP COM 859152100 17,646 497,500 SH DEFINED n/a 497,500 STERIS CORP COM 859152100 10,077 284,100 SH DEFINED 1 284,100 TE CONNECTIVITY LTD REG SHS H84989104 31,975 940,150 SH DEFINED n/a 940,150 TE CONNECTIVITY LTD REG SHS H84989104 9,344 274,750 SH DEFINED 1 274,750 TIM HORTONS INC COM 88706M103 15,611 300,032 SH DEFINED n/a 300,032 TRIUMPH GROUP INC COM 896818101 22,761 364,000 SH DEFINED n/a 364,000 TRIUMPH GROUP INC COM 896818101 8,554 136,800 SH DEFINED 1 136,800 TYCO INTERNATIONAL LTD SHS H89128104 28,465 505,953 SH DEFINED n/a 505,953 TYCO INTERNATIONAL LTD SHS H89128104 9,491 168,700 SH DEFINED 1 168,700 UMB FINANCIAL CORP COM 902788108 779 16,000 SH DEFINED n/a 16,000 UMB FINANCIAL CORP COM 902788108 987 20,269 SH DEFINED 1 20,269 UNITED NATURAL FOODS INC COM 911163103 17,757 303,800 SH DEFINED n/a 303,800 UNITED NATURAL FOODS INC COM 911163103 9,329 159,600 SH DEFINED 1 159,600 UNUM GROUP COM 91529Y106 2,269 118,074 SH DEFINED n/a 118,074 VALLEY NATIONAL BANCORP COM 919794107 7,097 708,274 SH DEFINED n/a 708,274 VALLEY NATIONAL BANCORP COM 919794107 2,123 211,890 SH DEFINED 1 211,890 WELLS FARGO & CO COM 949746101 25,000 724,000 SH DEFINED n/a 724,000 WELLS FARGO & CO COM 949746101 5,836 169,000 SH DEFINED 1 169,000 WENDYS CO COM 95058W100 6,410 1,408,740 SH DEFINED n/a 1,408,740 WENDYS CO COM 95058W100 8,209 1,804,200 SH DEFINED 1 1,804,200 WERNER ENTERPRISES INC COM 950755108 6,623 309,900 SH DEFINED n/a 309,900 WERNER ENTERPRISES INC COM 950755108 9,168 429,000 SH DEFINED 1 429,000 WESTERN DIGITAL CORP COM 958102105 8,033 207,400 SH DEFINED n/a 207,400 WESTERN DIGITAL CORP COM 958102105 3,659 94,483 SH DEFINED 1 94,483 WESTLAKE CHEMICAL CORP COM 960413102 25,929 354,900 SH DEFINED n/a 354,900 WESTLAKE CHEMICAL CORP COM 960413102 8,453 115,700 SH DEFINED 1 115,700 Total: ========= 3,400,334