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, 1999
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: VMF Capital, L.L.C.
Address: 118 Third Avenue SE
Suite 700
Cedar Rapids, IA 52401
13F File Number: 801-55404
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: Julie Birkicht
Title: Operations Manager
Phone: 319-861-2200
Signature, Place and Date of Signing:
Julie Birkicht Cedar Rapids, Iowa October 15, 1999
Report Type (Check only one.):
[ x ] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
<PAGE>
FORM 13F SUMMARY PAGE
AS OF DATE: 09/30/99
REPORT SUMMARY:
NUMBER OF OTHER INCLUDED MANAGERS: 0
FORM 13F INFORMATION TABLE ENTRY TOTAL: 175
FORM 13F INFORMATION TABLE VALUE TOTAL: $515,449,000
LIST OF OTHER INCLUDED MANAGERS:
<PAGE>
<TABLE>
VMF CAPITAL, LLC
FORM 13F INFORMATION TABLE
AS OF DATE: 09/30/99
<CAPTION>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
---------------- -------------- --------- -------- ------- --- ----- ------- -------- ------- ------ ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ABBOTT LABS COM 2824100 5968 162675 SH DEFINED 153055 9620 0
ABERCROMBIE & FITCH CO COM 2896207 341 10000 SH SOLE 10000 0 0
AEGON N V COM 7924103 327 3783 SH SOLE 3783 0 0
AES CORP COM 00130H105 885 15000 SH DEFINED 0 15000 0
AMERICA ONLINE INC COM 02364J104 3159 30355 SH DEFINED 25115 5240 0
AMERICAN EXPRESS CO COM 25816109 1706 12640 SH SOLE 12640 0 0
AMERICAN HOME PRODS CORP COM 26609107 657 15820 SH DEFINED 5820 10000 0
AMERICAN INTL GROUP INC COM 26874107 10425 119913 SH DEFINED 111784 8129 0
ANHEUSER BUSCH CO COM 35229103 2578 36790 SH DEFINED 26505 10285 0
APOLLO GROUP INC CL A COM 37604105 3488 165100 SH DEFINED 164510 590 0
ARROW ELECTRS INC COM 42735100 282 16000 SH DEFINED 0 16000 0
AT & T CORP COM 1957109 8183 188123 SH DEFINED 172663 15460 0
AVERY DENNISON CORP COM 53611109 422 8000 SH DEFINED 0 8000 0
BAKER HUGHES INC COM 57224107 435 15000 SH DEFINED 0 15000 0
BANK OF AMERICA COM 60505104 7664 137634 SH DEFINED 121716 15918 0
BANK ONE CORP COM 06423A103 2439 70050 SH DEFINED 55200 14850 0
BB&T CORP COM 54937107 4827 149100 SH SOLE 149100 0 0
BEA SYS INC COM 73325102 744 21060 SH DEFINED 20435 625 0
BEC ENERGY COM 05538M101 381 9000 SH DEFINED 0 9000 0
BP AMOCO ADS COM 55622104 576 10400 SH DEFINED 400 10000 0
BRIGHT HORIZONS FAMILY SOLUTION COM 109195107 523 33485 SH SOLE 33485 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 1429 21165 SH DEFINED 800 20365 0
BURLINGTON RESOURCES INC COM 122014103 368 10000 SH DEFINED 0 10000 0
CAREER ED CORP COM 141665109 454 15650 SH SOLE 15650 0 0
CASEYS GEN STORES INC COM 147528103 9842 734160 SH DEFINED 699160 35000 0
CHASE MANHATTAN CORP NEW COM 16161A108 808 10720 SH DEFINED 380 10340 0
CHIREX INC COM 170038103 596 23075 SH SOLE 23075 0 0
CIGNA CORP COM 125509109 280 3600 SH SOLE 3600 0 0
CINTAS CORP COM 172908105 4616 79850 SH SOLE 79850 0 0
CISCO SYS INC COM 17275R102 4337 63255 SH DEFINED 48755 14500 0
CITIGROUP INC COM 172967101 10532 239360 SH DEFINED 223172 16188 0
COCA COLA CO COM 191216100 556 11520 SH DEFINED 2320 9200 0
COLGATE PALMOLIVE CO COM 194162103 2130 46560 SH SOLE 46560 0 0
COMAIR HOLDINGS INC COM 199789108 7065 423355 SH SOLE 423355 0 0
COMPAQ COMPUTER CORP COM 204493100 242 10575 SH DEFINED 575 10000 0
COMPUTER SCIENCES CORP COM 205363104 8213 116810 SH SOLE 116810 0 0
COMVERSE TECHNOLOGY INC COM 205862402 14862 157585 SH SOLE 157585 0 0
CONAGRA INC COM 205887102 470 20848 SH DEFINED 848 20000 0
CONSOLIDATED GRAPHICS INC COM 209341106 787 18685 SH SOLE 18685 0 0
COSTCO WHOLESALE CORP COM 22160K105 792 11000 SH DEFINED 0 11000 0
COX COMMUNICATIONS INC NEW CL COM 224044107 209 5000 SH SOLE 5000 0 0
COX COMMUNICATIONS INCOME PRID CONV PREF 224044305 2888 50000 SH SOLE 50000 0 0
CROWN CORK & SEAL INC COM 228255105 243 10000 SH DEFINED 0 10000 0
DAYTON HUDSON CORP COM 239753106 1266 21080 SH SOLE 21080 0 0
DELL COMPUTER CORP COM 247025109 335 8000 SH DEFINED 0 8000 0
DEVRY INC COM 251893103 756 37785 SH SOLE 37785 0 0
DII GROUP INC COM 232949107 789 22425 SH SOLE 22425 0 0
DISNEY WALT PRODTNS COM 254687106 312 12000 SH DEFINED 0 12000 0
DOW CHEMICAL CORP COM 260543103 398 3500 SH SOLE 3500 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 2080 34375 SH DEFINED 25480 8895 0
E M C CORP MASS COM 268648102 714 10000 SH DEFINED 0 10000 0
EDUCATION MGMT CORP COM 28139T101 458 36980 SH SOLE 36980 0 0
ELAN PLC ADR COM 284131208 10748 320231 SH SOLE 320231 0 0
ELECTRONIC DATA SYSTEMS CORP COM 285661104 371 7000 SH DEFINED 0 7000 0
EMERSON ELEC CO COM 291011104 1648 26075 SH DEFINED 20075 6000 0
EXXON CORP COM 302290101 2685 35325 SH DEFINED 24060 11265 0
F Y I INC COM 302712104 474 14075 SH SOLE 14075 0 0
FED HOME LN MTG COM 313400301 390 7500 SH DEFINED 0 7500 0
FEDERAL NAT'L MORTGAGE ASSN COM 313586109 8729 139245 SH DEFINED 138455 790 0
FIRST UN CORP COM 337358105 214 6000 SH DEFINED 0 6000 0
FIRSTAR CORP NEW COM 33763V109 9886 385801 SH DEFINED 385061 740 0
FIRSTSERVICE CORP COM 33761N109 1174 97360 SH DEFINED 96360 1000 0
FLEXTRONICS INTL LTD COM Y2573F102 445 7640 SH SOLE 7640 0 0
FOSSIL INC COM 349882100 656 24232 SH SOLE 24232 0 0
FOX ENTERTAINMENT COM 35138T107 237 11250 SH DEFINED 0 11250 0
GENERAL ELEC CO COM 369604103 14637 123457 SH DEFINED 106447 17010 0
GENERAL MTRS CORP COM 370442105 441 7000 SH DEFINED 0 7000 0
GENERAL MTRS CORP CL H NEW COM 370442832 401 7000 SH DEFINED 0 7000 0
GEORGIA PAC CORP COM 373298108 8678 214610 SH SOLE 214610 0 0
GILLETTE CO COM 375766102 1199 35335 SH DEFINED 27335 8000 0
GLOBESPAN INC COM 379571102 250 3960 SH SOLE 3960 0 0
GREAT BEAR TECHNOLOGY INC COM 390158103 35 3463800 SH SOLE 3463800 0 0
GTE CORP COM 362320103 1208 15710 SH DEFINED 425 15285 0
HARTFORD LIFE INC COM 416592103 2208 44825 SH DEFINED 44540 285 0
HEARTLAND EXPRESS INC COM 422347104 869 61550 SH SOLE 61550 0 0
HELEN OF TROY CORP COM G4388N106 442 45925 SH SOLE 45925 0 0
HEWLETT PACKARD CO COM 428236103 11533 127080 SH DEFINED 120230 6850 0
HOME DEPOT INC COM 437076102 3780 55084 SH DEFINED 44084 11000 0
HON INDS INC COM 438092108 621 32270 SH DEFINED 31710 560 0
HOOPER HOLMES INC COM 439104100 542 21150 SH SOLE 21150 0 0
I B M COM 459200101 3296 27240 SH DEFINED 19240 8000 0
ILLINOIS TOOL WKS INC COM 452308109 746 10000 SH DEFINED 0 10000 0
INTEL CORP COM 458140100 2938 39530 SH DEFINED 29090 10440 0
INTERMEDIA COMMUNICATION FLACO COM 458801107 280 12865 SH SOLE 12865 0 0
ITC DELTACOM INC COM 45031T104 359 13050 SH SOLE 13050 0 0
JABIL CIRCUIT INC COM 466313103 9784 197665 SH DEFINED 197305 360 0
JLG INDS INC COM 466210101 632 41600 SH DEFINED 40865 735 0
JOHNSON & JOHNSON COM 478160104 12414 135120 SH DEFINED 121245 13875 0
KIMBERLY CLARK CORP COM 494368103 496 9410 SH DEFINED 410 9000 0
KLA-TENCOR CORP COM 482480100 6014 92530 SH SOLE 92530 0 0
KNIGHT/TRIMARK GROUP INC CL A COM 499067106 2879 97185 SH DEFINED 96895 290 0
LEGATO SYS INC COM 524651106 5308 121765 SH SOLE 121765 0 0
LILLY ELI & CO COM 532457108 597 9300 SH DEFINED 2300 7000 0
LOCKHEED MARTIN CORP COM 539830109 5940 181710 SH SOLE 181710 0 0
LOWES COS INC COM 548661107 16534 339155 SH DEFINED 325705 13450 0
LUCENT TECHNOLOGIES INC COM 549463107 3349 51615 SH DEFINED 38235 13380 0
MARTIN MARIETTA MTLS INC COM 573284106 5175 129575 SH DEFINED 129315 260 0
MATTEL INC COM 577081102 5577 293515 SH SOLE 293515 0 0
MAXIM INTEGRATED PRODS INC COM 57772K101 4199 66545 SH SOLE 66545 0 0
MAXIMUS INC COM 577933104 782 26135 SH SOLE 26135 0 0
MCDONALDS CORP COM 580135101 433 10000 SH DEFINED 0 10000 0
MCI WORLDCOM COM 55268B106 934 13000 SH DEFINED 0 13000 0
MCLEOD INC COM 582266102 7080 166333 SH SOLE 166333 0 0
MEDQUIST INC COM 584949101 788 23575 SH SOLE 23575 0 0
MEDTRONIC INC COM 585055106 1719 48332 SH DEFINED 47662 670 0
MERCK & CO INC COM 589331107 7638 117855 SH DEFINED 107500 10355 0
MERRILL LYNCH MITTS NIKKEI 225 COM 590188355 2981 300000 SH SOLE 300000 0 0
MERRILL LYNCH & CO INC COM 590188108 579 8590 SH SOLE 8590 0 0
MGIC INVT CORP WIS COM 552848103 573 12000 SH DEFINED 0 12000 0
MICROSOFT CORP COM 594918104 5202 57440 SH DEFINED 37150 20290 0
MINNESOTA MNG & MFG CO COM 604059105 778 8100 SH DEFINED 0 8100 0
MOBIL CORP COM 607059102 580 5753 SH DEFINED 253 5500 0
MORGAN J P & CO INC COM 616880100 3542 31000 SH SOLE 31000 0 0
MORGAN STANLEY DEAN WITTER COM COM 617446448 714 8000 SH DEFINED 0 8000 0
MOTOROLA INC COM 620076109 473 5370 SH DEFINED 0 5370 0
NAVIGANT CONSULTING INC COM 63935N107 411 8865 SH SOLE 8865 0 0
NCR CORP NEW COM 62886E108 2626 79435 SH SOLE 79435 0 0
NEWELL RUBBERMAID INC COM 651229106 357 12490 SH DEFINED 2055 10435 0
NORWEST ADV TREASURY PLUS FUND MUTUAL FDS 668903891 50 50281 SH SOLE 50281 0 0
NORWEST ADVANTAGE FDS TAX FR I MUTUAL FDS 668900764 299 30183 SH SOLE 30183 0 0
NORWEST INVESTMENT CASH INVT F MUTUAL FDS 668900632 101 100621 SH SOLE 100621 0 0
NUCOR CORP COM 670346105 286 6000 SH DEFINED 0 6000 0
ON ASSIGNMENT INC COM 682159108 668 27820 SH SOLE 27820 0 0
OSTEOTECH INC COM 688582105 293 21515 SH DEFINED 21040 475 0
PANTRY INC COM 698657103 1113 100000 SH SOLE 100000 0 0
PEPSICO INC COM 713448108 7410 242960 SH DEFINED 225415 17545 0
PFIZER INC COM 717081103 3023 84265 SH DEFINED 69265 15000 0
PHILIP MORRIS COS INS COM 718154107 492 14405 SH DEFINED 1925 12480 0
PITNEY BOWES INC COM 724479100 609 10000 SH DEFINED 0 10000 0
PRE PAID LEGAL SVCS INC COM 740065107 886 22495 SH SOLE 22495 0 0
PROCTER & GAMBLE CO COM 742718109 3046 32490 SH DEFINED 23490 9000 0
PROFIT RECOVERY GRP INTL INC COM 743168106 580 13007 SH SOLE 13007 0 0
RAYTHEON CO CL A COM 755111309 291 6000 SH DEFINED 0 6000 0
RAYTHEON CO CL B COM 755111408 6141 123740 SH DEFINED 123450 290 0
RELIANT ENERGY INC COM 75952J108 298 11000 SH DEFINED 0 11000 0
RELIASTAR FINL CORP COM 75952U103 266 8000 SH DEFINED 0 8000 0
ROYAL DUTCH PETRO-NY SHARES COM 780257804 1950 33020 SH DEFINED 22680 10340 0
RUSSELL FRANK INVT CO INTL S MUTUAL FDS 782493845 222 3333 SH SOLE 3333 0 0
RUSSELL FRANK INVT CO SPL GROW MUTUAL FDS 782493886 286 6499 SH SOLE 6499 0 0
RYANAIR HLDGS PLC A DR COM 783513104 551 12020 SH SOLE 12020 0 0
SAFECO CORP COM 786429100 280 10000 SH DEFINED 0 10000 0
SANMINA CORP COM 800907107 12289 158830 SH SOLE 158830 0 0
SARA LEE CORP COM 803111103 7508 321210 SH DEFINED 288610 32600 0
SBC COMMUNICATIONS INC COM 78387G103 961 18824 SH DEFINED 1824 17000 0
SCHERING PLOUGH CORP COM 806605101 396 9080 SH DEFINED 80 9000 0
SCHLUMBERGER LTD COM 806857108 1983 31820 SH DEFINED 21480 10340 0
SEALED AIR CORP NEW PFD CONV A CONV PREF 81211K209 1335 26300 SH SOLE 26300 0 0
SEI INVTS CO COM 784117103 484 5425 SH DEFINED 5270 155 0
SHERWIN WILLIAMS CO COM 824348106 314 15000 SH DEFINED 0 15000 0
SIGMA ALDRICH CORP COM 826552101 349 11000 SH DEFINED 0 11000 0
SOLECTRON CORP COM 834182107 10915 151995 SH SOLE 151995 0 0
SONAT INC COM 835415100 497 12520 SH DEFINED 0 12520 0
SOUTHWEST AIRLS CO COM 844741108 5677 373789 SH SOLE 373789 0 0
SOUTHWEST SEC KNIGHT/TRIMARK D CONV PREF 845224203 1701 30000 SH SOLE 30000 0 0
SUN MICROSYSTEMS INC COM 866810104 19130 205700 SH DEFINED 204430 1270 0
SUNGARD DATA SYS INC COM 867363103 7593 288555 SH SOLE 288555 0 0
SYNOPSYS INC COM 871607107 6424 114400 SH DEFINED 114130 270 0
SYSCO CORP COM 871829107 701 20000 SH DEFINED 0 20000 0
TENET HEALTHCARE CORP COM 88033G100 351 20000 SH DEFINED 0 20000 0
TEXAS INSTRS INC COM 882508104 2525 30700 SH DEFINED 30340 360 0
TIME WARNER INC COM 887315109 365 6000 SH DEFINED 0 6000 0
TYCO INTL LTD NEW COM 902124106 13851 134150 SH DEFINED 122095 12055 0
UNITED RENTALS INC COM 911363109 218 10000 SH SOLE 10000 0 0
UNUMPROVIDENT CORP COM 91529Y106 353 12000 SH DEFINED 0 12000 0
US BANCORP COM 902973106 436 14450 SH DEFINED 4450 10000 0
WAL MART STORES INC COM 931142103 13922 292700 SH DEFINED 270510 22190 0
WARNER LAMBERT CO COM 934488107 332 5000 SH DEFINED 0 5000 0
WASHINGTON MUT INC COM 939322103 6233 213090 SH DEFINED 202461 10629 0
WATERS CORP COM 941848103 14223 234855 SH DEFINED 234480 375 0
WELLS FARGO NEW COM 949746101 7754 195695 SH DEFINED 168045 27650 0
WILLIAMS COS INC COM 969457100 968 25725 SH DEFINED 25290 435 0
WILLIAMS SONOMA INC COM 969904101 542 11170 SH DEFINED 10750 420 0
WILLIS LEASE FIN CORP COM 970646105 459 34770 SH SOLE 34770 0 0
XILINX INC COM 983919101 655 10000 SH DEFINED 0 10000 0
ZALE CORP NEW COM 988858106 819 21375 SH DEFINED 20985 390 0
</TABLE>
