0001142941-13-000002.txt : 20130125 0001142941-13-000002.hdr.sgml : 20130125 20130125171244 ACCESSION NUMBER: 0001142941-13-000002 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20121231 FILED AS OF DATE: 20130125 DATE AS OF CHANGE: 20130125 EFFECTIVENESS DATE: 20130125 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DENALI ADVISORS LLC CENTRAL INDEX KEY: 0001142941 IRS NUMBER: 330957285 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-10130 FILM NUMBER: 13549441 BUSINESS ADDRESS: STREET 1: 4275 EXECUTIVE SQUARE STREET 2: SUITE 650 CITY: LA JOLLA STATE: CA ZIP: 92037 BUSINESS PHONE: 8585583600 MAIL ADDRESS: STREET 1: 4275 EXECUTIVE SQUARE STREET 2: SUITE 650 CITY: LA JOLLA STATE: CA ZIP: 92037 13F-HR 1 report20121231.txt 13F_2012-12-31 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13 (F) COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 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: Denali Advisors, LLC Address: 4275 Executive Square, Suite 650 La Jolla, CA 92037 Form 13F File Number: 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: Anne Erickson Title: Chief Compliance Officer Phone: 858-320-4165 Signature, Place, and Date of Signing: /s/ Anne Erickson La Jolla, CA October 02, 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: 0 Form 13F Information Table Entry Total: 227 Form 13F Information Table Value Total: $569718 (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. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] NONE FORM 13F INFORMATION TABLE 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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- A.O. Smith Corp. COM 831865209 177 2800 SH SOLE 2800 0 0 ACE Limited COM H0023R105 7852 98400 SH SOLE 24200 0 74200 AT&T Inc. COM 00206R102 920 27300 SH SOLE 9200 0 18100 Aaron's Inc. COM 002535300 158 5600 SH SOLE 5600 0 0 Activision Blizzard, Inc. COM 00507V109 225 21200 SH SOLE 21200 0 0 Advance Auto Parts Inc COM 00751Y106 72 1000 SH SOLE 1000 0 0 Aecom Technology Corp. COM 00766T100 507 21300 SH SOLE 21300 0 0 Aetna Inc. COM 00817Y108 9 200 SH SOLE 200 0 0 Alleghany Corp COM 017175100 637 1900 SH SOLE 800 0 1100 Allied World Assurance Co. COM H01531104 3436 43600 SH SOLE 12300 0 31300 Allstate Corporation COM 020002101 362 9000 SH SOLE 9000 0 0 Ameren Corp COM 023608102 7425 241700 SH SOLE 44400 0 197300 American Capital, Ltd. COM 02503Y103 5711 475100 SH SOLE 135200 0 339900 American Financial Group COM 025932104 375 9500 SH SOLE 9500 0 0 American Greetings cl A COM 026375105 144 8500 SH SOLE 8500 0 0 American Intl Group, Inc. COM 026874784 4307 122000 SH SOLE 34500 0 87500 American Water Works COM 030420103 2439 65700 SH SOLE 8500 0 57200 AmerisourceBergen Corp COM 03073E105 11939 276500 SH SOLE 82000 0 194500 Analog Devices Inc. COM 032654105 8 200 SH SOLE 200 0 0 Annaly Capital Mgmt. COM 035710409 528 37600 SH SOLE 37600 0 0 Apple Inc. COM 037833100 1730 3250 SH SOLE 2000 0 1250 Arch Capital Group Ltd. COM G0450A105 2293 52100 SH SOLE 13500 0 38600 Archer Daniels Midland COM 039483102 3892 142100 SH SOLE 35000 0 107100 Arctic Cat Inc. COM 039670104 240 7200 SH SOLE 7200 0 0 Ares Capital Corp COM 04010L103 2289 130800 SH SOLE 55700 0 75100 Arrow Electronics Inc COM 042735100 1691 44400 SH SOLE 26600 0 17800 Asbury Automotive Group COM 043436104 372 11600 SH SOLE 5100 0 6500 Ashland Inc. COM 044209104 4439 55200 SH SOLE 4900 0 50300 Assurant Inc. COM 04621X108 1641 47300 SH SOLE 12600 0 34700 Avery Dennison Corp. COM 053611109 77 2200 SH SOLE 2200 0 0 Avis Budget Group, Inc. COM 053774105 121 6100 SH SOLE 6100 0 0 Avnet Inc COM 053807103 7190 234900 SH SOLE 110300 0 124600 Axis Capital Holdings Ltd COM G0692U109 1413 40800 SH SOLE 4400 0 36400 Bank of America Corp COM 060505104 280 24100 SH SOLE 4100 0 20000 Bank of New York Mellon Corp. COM 064058100 41 1600 SH SOLE 1600 0 0 Banner Corp. COM 06652V208 246 8000 SH SOLE 400 0 7600 Berkshire Hathaway cl B COM 084670702 646 7200 SH SOLE 3800 0 3400 Best Buy Co., Inc. COM 086516101 62 5200 SH SOLE 5200 0 0 Briggs & Stratton Corp. COM 109043109 230 10900 SH SOLE 10900 0 0 Bunge Limited COM G16962105 15367 211400 SH SOLE 56800 0 154600 C.R. Bard Inc. COM 067383109 39 400 SH SOLE 400 0 0 CA, Inc. COM 12673P105 662 30100 SH SOLE 20400 0 9700 CACI International, Inc. COM 127190304 99 1800 SH SOLE 1800 0 0 CIGNA Corporation COM 125509109 8960 167600 SH SOLE 57300 0 110300 CIT Group Inc. COM 125581801 197 5100 SH SOLE 5100 0 0 CMS Energy Corp COM 125896100 2818 115600 SH SOLE 8100 0 107500 CNA Financial Corporation COM 126117100 541 19300 SH SOLE 5200 0 14100 CNH Global N.V. COM N20935206 10230 253900 SH SOLE 76400 0 177500 CNO Financial Group, Inc. COM 12621E103 1338 143400 SH SOLE 37900 0 105500 CYS Investments Inc COM 12673A108 31 2600 SH SOLE 2600 0 0 Cadence Design Systems, Inc. COM 127387108 880 65100 SH SOLE 65100 0 0 Campbell Soup Company COM 134429109 28 800 SH SOLE 800 0 0 Capital One Financial Corp. COM 14040H105 93 1600 SH SOLE 1600 0 0 Cardinal Health Inc. COM 14149Y108 9072 220300 SH SOLE 84900 0 135400 Chevron Corp COM 166764100 8435 78000 SH SOLE 11400 0 66600 Chubb Corp COM 171232101 8232 109300 SH SOLE 38000 0 71300 Cincinnati Financial Corp COM 172062101 67 1700 SH SOLE 1700 0 0 Cirrus Logic Inc. COM 172755100 249 8600 SH SOLE 8600 0 0 Citigroup, Inc. COM 172967424 55 1400 SH SOLE 1400 0 0 Commercial Metals Co. COM 201723103 30 2000 SH SOLE 2000 0 0 Community Health Systems COM 203668108 1183 38500 SH SOLE 7700 0 30800 Computer Programs & Systems COM 205306103 70 1400 SH SOLE 0 0 1400 Consolidated Edison, Inc. COM 209115104 333 6000 SH SOLE 6000 0 0 Cooper Tire & Rubber Co. COM 216831107 1646 64900 SH SOLE 5900 0 59000 Cornerstone OnDemand Inc. COM 21925Y103 142 4800 SH SOLE 4800 0 0 Corning Inc. COM 219350105 6830 541200 SH SOLE 224000 0 317200 Cracker Barrel Old Cntry Store COM 22410J106 469 7300 SH SOLE 7300 0 0 DISH Network Corp Cl A COM 25470M109 746 20500 SH SOLE 7000 0 13500 DTE Energy Company COM 233331107 186 3100 SH SOLE 400 0 2700 Dell Inc. COM 24702R101 80 7900 SH SOLE 7900 0 0 Diamond Offshore Drilling Inc. COM 25271C102 1815 26700 SH SOLE 14200 0 12500 Discover Financial Services COM 254709108 6997 181500 SH SOLE 47100 0 134400 Discovery Communications A COM 25470F104 16613 261700 SH SOLE 79200 0 182500 Dolby Laboratories Inc. COM 25659T107 59 2000 SH SOLE 2000 0 0 Edison International COM 281020107 1261 27900 SH SOLE 27900 0 0 Eli Lilly & Co. COM 532457108 118 2400 SH SOLE 2400 0 0 Entergy Corp COM 29364G103 6241 97900 SH SOLE 44000 0 53900 Everest Re Group Ltd COM G3223R108 3386 30800 SH SOLE 3400 0 27400 Exelis Inc. COM 30162A108 432 38300 SH SOLE 1800 0 36500 Exxon Mobil Corporation COM 30231G102 9477 109500 SH SOLE 35500 0 74000 Fifth Third Bancorp COM 316773100 11745 772700 SH SOLE 241100 0 531600 First Horizon National Corp COM 320517105 281 28400 SH SOLE 1300 0 27100 First Niagara Financial Group COM 33582V108 2910 367000 SH SOLE 89200 0 277800 Ford Motor Company COM 345370860 8834 682200 SH SOLE 188400 0 493800 Franklin Resources, Inc. COM 354613101 4286 34100 SH SOLE 8200 0 25900 Gannett Co. Inc. COM 364730101 5534 307300 SH SOLE 101600 0 205700 General Dynamics Corp. COM 369550108 9296 134200 SH SOLE 53900 0 80300 General Electric Co COM 369604103 6589 313900 SH SOLE 63600 0 250300 Genuine Parts Company COM 372460105 9308 146400 SH SOLE 35300 0 111100 Georgia Gulf Corp. COM 373200302 2489 60300 SH SOLE 15400 0 44900 Goldman Sachs Group Inc COM 38141G104 2615 20500 SH SOLE 13900 0 6600 Google Inc COM 38259P508 35 50 SH SOLE 50 0 0 Great Plains Energy Inc COM 391164100 191 9400 SH SOLE 9400 0 0 HCA Holdings Inc. COM 40412C101 2776 92000 SH SOLE 35700 0 56300 Harris Teeter Supermarkets Inc COM 414585109 721 18700 SH SOLE 5400 0 13300 Hartford Financial Services COM 416515104 1057 47100 SH SOLE 14900 0 32200 Hatteras Financial Corp. COM 41902R103 3523 142000 SH SOLE 20800 0 121200 HealthSouth Corporation COM 421924309 739 35000 SH SOLE 18000 0 17000 Henry Schein Inc. COM 806407102 217 2700 SH SOLE 2700 0 0 Hess Corporation COM 42809H107 21 400 SH SOLE 400 0 0 Hewlett-Packard Co COM 428236103 5341 374800 SH SOLE 99500 0 275300 Hologic Inc. COM 436440101 202 10100 SH SOLE 10100 0 0 Hormel Foods Corp COM 440452100 81 2600 SH SOLE 2600 0 0 Humana Inc. COM 444859102 3898 56800 SH SOLE 14300 0 42500 IAC/InterActiveCorp COM 44919P508 99 2100 SH SOLE 2100 0 0 Iconix Brand Group, Inc. COM 451055107 558 25000 SH SOLE 16800 0 8200 Ingersoll-Rand Co. COM G47791101 1904 39700 SH SOLE 12400 0 27300 Ingram Micro Inc. COM 457153104 4604 272100 SH SOLE 60100 0 212000 Ingredion Incorporated COM 457187102 2133 33100 SH SOLE 7100 0 26000 Intel Corporation COM 458140100 4 200 SH SOLE 200 0 0 International Paper Co. COM 460146103 1135 28500 SH SOLE 14200 0 14300 Invesco Mortgage Capital Inc. COM 46131B100 1169 59300 SH SOLE 36300 0 23000 JPMorgan Chase & Co COM 46625H100 10370 235900 SH SOLE 86200 0 149700 John Wiley & Sons cl A COM 968223206 662 17000 SH SOLE 8000 0 9000 Johnson & Johnson COM 478160104 42 600 SH SOLE 600 0 0 KeyCorp COM 493267108 3438 408300 SH SOLE 137000 0 271300 Kimberly-Clark Corp. COM 494368103 59 700 SH SOLE 700 0 0 Kroger Company COM 501044101 10377 398800 SH SOLE 128700 0 270100 L-3 Communications COM 502424104 5555 72500 SH SOLE 18400 0 54100 LIBERTY MEDIA GROUP COM 001957208 209 1800 SH SOLE 1800 0 0 Lear Corporation COM 521865204 3016 64400 SH SOLE 21300 0 43100 Leucadia National Corp. COM 527288104 4901 206000 SH SOLE 67700 0 138300 Lincoln National Corp COM 534187109 9718 375200 SH SOLE 110400 0 264800 Lithia Motors Inc. COM 536797103 3300 88200 SH SOLE 24300 0 63900 Lockheed Martin Corp. COM 539830109 591 6400 SH SOLE 6400 0 0 Loews Corp COM 540424108 8843 217000 SH SOLE 103100 0 113900 M/I Homes, Inc. COM 55305B101 201 7600 SH SOLE 7600 0 0 MDC Holdings Inc COM 552676108 1022 27800 SH SOLE 13800 0 14000 MFA Financial, Inc. COM 55272X102 1611 198700 SH SOLE 57200 0 141500 Macy's Inc. COM 55616P104 4292 110000 SH SOLE 30100 0 79900 Marathon Oil Corp COM 565849106 193 6300 SH SOLE 6300 0 0 Marathon Petroleum Corp COM 56585A102 8776 139300 SH SOLE 52700 0 86600 Mattel Inc. COM 577081102 231 6300 SH SOLE 6300 0 0 McKesson Corp COM 58155Q103 8755 90300 SH SOLE 30900 0 59400 Medtronic Inc. COM 585055106 316 7700 SH SOLE 7700 0 0 Merck & Co. Inc. COM 58933Y105 8 200 SH SOLE 200 0 0 MetLife, Inc. COM 59156R108 3034 92100 SH SOLE 9000 0 83100 Microsoft Corporation COM 594918104 37 1400 SH SOLE 1400 0 0 Molson Coors Brewing Co. COM 60871R209 3286 76800 SH SOLE 19600 0 57200 Morgan Stanley COM 617446448 220 11500 SH SOLE 11500 0 0 Mylan Inc. COM 628530107 2125 77400 SH SOLE 20800 0 56600 National Retail Properties COM 637417106 246 7900 SH SOLE 7900 0 0 NextEra Energy, Inc. COM 65339F101 2498 36100 SH SOLE 15800 0 20300 Northrop Grumman Corp COM 666807102 8556 126600 SH SOLE 37400 0 89200 Nu Skin Enterprises Inc. COM 67018T105 1471 39700 SH SOLE 7900 0 31800 NxStage Medical Inc. COM 67072V103 63 5600 SH SOLE 5600 0 0 Ocwen Financial Corp COM 675746309 201 5800 SH SOLE 5800 0 0 Omnicare Inc COM 681904108 505 14000 SH SOLE 5200 0 8800 Oshkosh Corporation COM 688239201 2698 91000 SH SOLE 29000 0 62000 Oxford Industries Inc. COM 691497309 79 1700 SH SOLE 1700 0 0 PNC Financial Services COM 693475105 2793 47900 SH SOLE 7000 0 40900 PNM Resources, Inc. COM 69349H107 472 23000 SH SOLE 1500 0 21500 PartnerRe Ltd. COM G6852T105 3220 40000 SH SOLE 9300 0 30700 Pennymac Mortgage Invsmt Tr COM 70931T103 463 18300 SH SOLE 18300 0 0 PetSmart Inc. COM 716768106 5597 81900 SH SOLE 34000 0 47900 Pfizer Inc. COM 717081103 501 20000 SH SOLE 20000 0 0 Pitney Bowes Inc. COM 724479100 289 27200 SH SOLE 27200 0 0 Popular Inc. COM 733174700 1125 54100 SH SOLE 33500 0 20600 Procter & Gamble Co. COM 742718109 136 2000 SH SOLE 2000 0 0 Protective Life Corp. COM 743674103 815 28500 SH SOLE 5300 0 23200 Prudential Financial Inc COM 744320102 8517 159700 SH SOLE 50400 0 109300 PulteGroup, Inc. COM 745867101 481 26500 SH SOLE 26500 0 0 QEP Resources, Inc. COM 74733V100 67 2200 SH SOLE 2200 0 0 Questcor Pharmaceutical COM 74835Y101 307 11500 SH SOLE 2800 0 8700 RPM International, Inc. COM 749685103 308 10500 SH SOLE 10500 0 0 Raytheon Company COM 755111507 3396 59000 SH SOLE 28400 0 30600 Reinsurance Group of America COM 759351604 2901 54200 SH SOLE 16700 0 37500 Reliance Steel & Aluminum COM 759509102 137 2200 SH SOLE 2200 0 0 Renaissance Re Hldgs COM G7496G103 6013 74000 SH SOLE 20200 0 53800 Reynolds American Inc COM 761713106 6836 165000 SH SOLE 91100 0 73900 Roper Industries Inc. COM 776696106 123 1100 SH SOLE 1100 0 0 Ross Stores Inc. COM 778296103 384 7100 SH SOLE 0 0 7100 Ryland Group Inc. COM 783764103 190 5200 SH SOLE 5200 0 0 Safeway Inc. COM 786514208 664 36700 SH SOLE 19000 0 17700 Scholastic Corporation COM 807066105 1239 41900 SH SOLE 7000 0 34900 Select Medical Holdings Corp COM 81619Q105 158 16800 SH SOLE 800 0 16000 Sherwin-Williams Co. COM 824348106 231 1500 SH SOLE 1500 0 0 Skechers U.S.A. Inc. COM 830566105 248 13400 SH SOLE 13400 0 0 Smithfield Foods Inc COM 832248108 2317 107400 SH SOLE 17300 0 90100 Snap-On Inc. COM 833034101 95 1200 SH SOLE 1200 0 0 Solarwinds, Inc. COM 83416B109 84 1600 SH SOLE 1600 0 0 Sonic Automotive, Inc. COM 83545G102 251 12000 SH SOLE 12000 0 0 Southern Company COM 842587107 8896 207800 SH SOLE 70600 0 137200 Southern Copper Corp. COM 84265V105 10877 287300 SH SOLE 91000 0 196300 Spectrum Brands Holdings, Inc. COM 84763R101 359 8000 SH SOLE 400 0 7600 Spectrum Pharmaceuticals COM 84763A108 37 3300 SH SOLE 3300 0 0 Spirit Airlines, Inc. COM 848577102 512 28900 SH SOLE 12500 0 16400 Starwood Property Trust, Inc. COM 85571B105 732 31900 SH SOLE 31900 0 0 State Street Corp COM 857477103 2068 44000 SH SOLE 8900 0 35100 Stryker Corporation COM 863667101 71 1300 SH SOLE 1300 0 0 SunTrust Banks, Inc. COM 867914103 1537 54200 SH SOLE 7000 0 47200 Synnex Corp COM 87162W100 2719 79100 SH SOLE 15000 0 64100 Synopsys Inc. COM 871607107 875 27500 SH SOLE 27500 0 0 TJX Companies Inc. COM 872540109 3770 88800 SH SOLE 22600 0 66200 TRW Automotive Hldgs Corp. COM 87264S106 10588 197500 SH SOLE 55800 0 141700 Target Corporation COM 87612E106 12 200 SH SOLE 200 0 0 Team Health Holdings, Inc COM 87817A107 1223 42500 SH SOLE 12000 0 30500 Tech Data Corporation COM 878237106 3715 81600 SH SOLE 31100 0 50500 Tenet Healthcare Corp COM 88033G407 1335 41100 SH SOLE 10200 0 30900 Tenneco Inc. COM 880349105 105 3000 SH SOLE 3000 0 0 Tesoro Corp COM 881609101 4189 95100 SH SOLE 31600 0 63500 Textron Inc. COM 883203101 1024 41300 SH SOLE 0 0 41300 The Travelers Companies COM 89417E109 5149 71700 SH SOLE 23000 0 48700 Thermo Fisher Scientific, Inc. COM 883556102 38 600 SH SOLE 600 0 0 Time Warner Cable COM 88732J207 8281 85200 SH SOLE 28800 0 56400 Timken Company COM 887389104 2631 55000 SH SOLE 12800 0 42200 Two Harbors Investment Corp. COM 90187B101 280 25300 SH SOLE 25300 0 0 Tyson Foods Inc COM 902494103 3632 187200 SH SOLE 49300 0 137900 UGI Corporation COM 902681105 2672 81700 SH SOLE 29100 0 52600 USG Corporation COM 903293405 298 10600 SH SOLE 500 0 10100 UnitedHealth Group, Inc. COM 91324P102 2061 38000 SH SOLE 6000 0 32000 Universal Corporation COM 913456109 514 10300 SH SOLE 10300 0 0 V.F. Corporation COM 918204108 151 1000 SH SOLE 1000 0 0 Valero Energy Corp. COM 91913Y100 8206 240500 SH SOLE 31400 0 209100 Validus Holdings, Ltd. COM G9319H102 2683 77600 SH SOLE 17100 0 60500 W.W. Grainger Inc. 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