UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 31, 1999
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holding entries.
Institutional Investment Manager Filing this Report:
Name: National Rural Electric Cooperative Association
Address: 4301 Wilson Blvd.
RSI8-305
Arlington, VA 22209
Form 13F File Number:
The institutional investment manager filing this report and
the persons by whom it is signed hereby represent that the
person signing the report is authorized to submit item 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: Executive Director, Investments
Phone: (703) 907-6030
Signature, Place, and Date of Signing:
Peter R. Morris Arlington, VA February 15, 2000
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 report by other reporting manager(s). )
[ ] 13F COMBINATION REPORT. (Check here if all holdings of this
reporting manager are reported in this report and a portion are
reported by other reporting manager (s). )
I am signing this report as required by the Securities and
Exchange Act of 1934.
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 72
Form 13F Information Table Value Total: $ 1,397,621
(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.
NONE
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FORM 13F INFORMATION TABLE
VALUE SHRS OR SH/ PUT INV OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CL CUSIP (X$1000) PRN AMT PRN CALL DISCR MGRS SOLE SHARED NONE
ALBERTO CULVER A COM 013068200 891750 41000 SH SOLE 41000
ALCAN ALUMINUM COM 013716105 23976 581000 SH SOLE 581000
ALLSTATE CORP COM 020002101 27480 1143799 SH SOLE 1143799
AMERICAN HOME PRODUCTS COM 026609107 10329 262400 SH SOLE 262400
APPLIED INDUSTRIAL TECHNOLOGY COM 03820C105 28360 1705855 SH SOLE 1705855
ATLANTIC RICHFIELD CO COM 048825103 20241 234000 SH SOLE 234000
AVERY DENNISON CORP COM 053611109 41043 563200 SH SOLE 563200
BB&T CORP COM 054937107 15861 579400 SH SOLE 579400
BAKER HUGHES INC COM 057224107 16985 806400 SH SOLE 806400
BANK ONE CORP COM 06423A103 29971 935484 SH SOLE 935484
BANKAMERICA COM 06605F102 28425 566380 SH SOLE 566380
BANTA CORP COM 066821109 1645 72900 SH SOLE 72900
BELLSOUTH CORP COM 079860102 35578 760000 SH SOLE 760000
BEMIS INC COM 081437105 36162 1036900 SH SOLE 1036900
BRINKER INTL INC COM 109641100 26069 1084000 SH SOLE 1084000
CBRL GROUP INC COM 12489V106 752 77500 SH SOLE 77500
CARLISLE COS INC COM 142339100 2131 59200 SH SOLE 59200
CHAMPION INTL CORP COM 158525105 26899 434300 SH SOLE 434300
CHARMING SHOPPES INC COM 161133103 43046 6497500 SH SOLE 6497500
CHASE MANHATTAN CORP COM 16161A108 49036 631200 SH SOLE 631200
CHEVRON CORP COM 166751107 23475 271000 SH SOLE 271000
CHUBB CORP COM 171232101 26354 468000 SH SOLE 468000
CITIGROUP INC COM 172967101 51679 929250 SH SOLE 929250
CLAIRES STORES COM 179584107 895 40000 SH SOLE 40000
CLARCOR INC COM 179895107 1789 99400 SH SOLE 99400
COMMERCE BANCSHARES INC COM 200525103 36618 1080962 SH SOLE 1080962
COOPER TIRE & RUBBER CO COM 216831107 23398 1496900 SH SOLE 1496900
DELUXE CORP COM 248019101 9562 348500 SH SOLE 348500
DILLARDS INC COM 254067101 26613 1318300 SH SOLE 1318300
DONNELLY RR & SONS COM 257867101 34172 1377200 SH SOLE 1377200
EASTMAN KODAK CO COM 277461109 22876 345300 SH SOLE 345300
EL PASO ENERGY CORP COM 283905107 27549 709800 SH SOLE 709800
FLOWSERVE COM 34354P105 19128 1125188 SH SOLE 1125188
GENUINE PARTS CO COM 372460105 22763 917400 SH SOLE 917400
HALLIBURTON CO COM 406216101 42351 1052200 SH SOLE 1052200
HELEMERICH & PAYNE INC COM 423452101 1605 73800 SH SOLE 73800
HUGHES SUPPLY INC COM 444482103 28315 1313175 SH SOLE 1313175
INTERNATIONAL PAPER CO COM 460146103 26266 465400 SH SOLE 465400
JUNO LIGHTING INC COM 482047107 875 84309 SH SOLE 84309
KMART CORP COM 482584109 25056 2490000 SH SOLE 2490000
KMART FINANCING I PFD 7.75% PREFERRED 498778208 1750 40000 SH SOLE 40000
LEGG MASON INC COM 524901105 2841 78370 SH SOLE 78370
LONESTAR STEAKHOUSE COM 542307103 1150 128900 SH SOLE 128900
LONGS DRUG STORES CORP COM 543162101 24870 963500 SH SOLE 963500
LYDALL INC COM 550819106 777 117300 SH SOLE 117300
MANITOWOC INC COM 563571108 3498 102875 SH SOLE 102875
MAY DEPARTMENT STORES CO COM 577778103 19979 619500 SH SOLE 619500
MAYTAG CORP COM 578592107 28824 600500 SH SOLE 600500
NORTHEAST UTILITIES COM 664397106 901 43800 SH SOLE 43800
OHIO CASUALTY CORP COM 677240103 8610 536000 SH SOLE 536000
ONEIDA LIMITED COM 682505102 30964 1423640 SH SOLE 1423640
PACTIV COM 695257105 11852 1115500 SH SOLE 1115500
PARKER HANNIFIN CORP COM 701094104 11207 218400 SH SOLE 218400
PHARMACIA & UPJOHN COM 716941109 17775 395000 SH SOLE 395000
POPE & TALBOT INC COM 732827100 13696 856000 SH SOLE 856000
QUESTAR CORP COM 748356102 23550 1570000 SH SOLE 1570000
REGAL BELOIT CORP COM 758750103 877 42500 SH SOLE 42500
RUDDICK CORP COM 781258108 30183 1947300 SH SOLE 1947300
SMITHKLINE BEECHAM PLC ADR COM 832378301 31076 483200 SH SOLE 483200
SMUCKER JM CO CL A COM 832696108 7771 398500 SH SOLE 398500
SMUCKER JM CO CL B COM 832696207 16101 990800 SH SOLE 990800
SOUTHWEST AIRLINES CO COM 844741108 46756 2892862 SH SOLE 2892862
STANDEX INTERNATIONAL CORP COM 854231107 19114 912900 SH SOLE 912900
SUPERIOR SURGICAL MFG INC COM 868358102 2881 320100 SH SOLE 320100
TENNECO AUTOMOTIVE INC COM 880349105 2078 223100 SH SOLE 223100
TEXACO INC COM 881694103 19064 351000 SH SOLE 351000
UMB FINANCIAL CORP COM 902788108 29988 794396 SH SOLE 794396
VALLEY NATIONAL BANCORP COM 919794107 224 8000 SH SOLE 8000
WENDY'S INTERNATIONAL INC COM 950590109 30137 1455900 SH SOLE 1455900
WEYERHAEUSER CO COM 962166104 13214 184000 SH SOLE 184000
WISCONSIN CENTRAL TRANSPORT CORP COM 976592105 437 32500 SH SOLE 32500
XEROX CORP COM 984121103 19897 877000 SH SOLE 877000
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