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Institutional Investment Manager
DENALI ADVISORS LLC
DENALI ADVISORS LLC (CIK: 0001142941) incorporated in Delaware, located at 5075 Shoreham Place, San Diego, CA. Institutional holdings reported to the SEC.

Institutional Holdings (2014Q1)
Original 13F HR (0001142941-14-000007) filed in 2014.04.10
#
Name
Shares
Value ($)
%
Options
Notes
1 AVNET INC 80,800 10,651 3.07%
2 TRW AUTOMOTIVE HLDGS CORP 44,400 10,594 3.06%
3 ARROW ELECTRONICS 54,500 10,198 2.94%
4 BUNGE LIMITED 29,300 8,444 2.44%
5 L-3 Communications Hldgs 20,000 8,093 2.33%
6 HARRIS CORP 40,400 7,879 2.27%
7 DILLARDS INC 23,200 7,355 2.12%
8 REINSURANCE GROUP AMER INC 29,300 7,270 2.10%
9 CNA FINL CORP 57,500 7,027 2.03%
10 JONES LANG LASALLE 19,500 6,790 1.96%
11 GANNETT CO. 85,500 6,721 1.94%
12 EXXON MOBIL CORP 45,300 6,564 1.89%
13 ENTERGY CORP NEW 27,800 6,444 1.86%
14 ARCH CAP GROUP LTD 35,000 6,433 1.86%
15 FIFTH THIRD BANCORP 96,500 6,102 1.76%
16 AMERICAN CAP LTD 88,300 5,566 1.61%
17 DIAMOND OFFSHR DRILLING 24,900 5,451 1.57%
18 AMERICAN FINL GROUP INC OHIO 22,800 5,367 1.55%
19 LEUCADIA NATL CORP 71,000 5,228 1.51%
20 AMERCO 7,900 5,176 1.49%
21 WORLD FUEL SVCS CORP 29,800 5,107 1.47%
22 AUTONATION INC 29,200 4,769 1.38%
23 STARZ SERIES A 44,500 4,532 1.31%
24 CHEVRON CORP NEW 25,000 4,400 1.27%
25 FOOT LOCKER INC 32,400 4,332 1.25%
26 RYDER SYS INC 17,700 4,268 1.23%
27 PRINCIPAL FIN GROUP 21,500 3,941 1.14%
28 JPMORGAN CHASE & CO 43,600 3,910 1.13%
29 SLM CORP 45,900 3,905 1.13%
30 DST SYS INC DEL 11,100 3,858 1.11%
31 EVEREST RE GROUP LTD 8,000 3,780 1.09%
32 CARDINAL HEALTH INC 21,700 3,751 1.08%
33 ANNALY CAP MGMT INC 85,500 3,747 1.08%
34 CIGNA CORPORATION 18,500 3,684 1.06%
35 AXIS CAPITAL HOLDINGS LTD 17,100 3,535 1.02%
36 WESTLAKE CHEM CORP 19,400 3,508 1.01%
37 TYSON FOODS INC 15,400 3,477 1.00%
38 ACTIVISION BLIZZARD INC 64,600 3,411 0.98%
39 HUMANA INC 12,000 3,404 0.98%
40 TIMKEN CO COM 15,700 3,403 0.98%
41 AMERICAN AIRLS GROUP INC 27,500 3,265 0.94%
42 JABIL INC COM 55,200 3,254 0.94%
43 ASSURANT INC 13,200 3,112 0.90%
44 HCA HOLDINGS INC 20,900 3,066 0.88%
45 BOOZ ALLEN HAMILTON HLDG COR 35,700 3,043 0.88%
46 WAL-MART STORES INC 26,500 2,996 0.86%
47 BIO RAD LABS INC 7,300 2,972 0.86%
48 CA INC 42,200 2,965 0.86%
49 DELTA AIRLINES INC DEL 29,900 2,931 0.85%
50 InterDigital Inc 20,400 2,918 0.84%
Page 1 of 6
Restatement filing (0001142941-14-000008) filed in 2014.04.17
#
Name
Shares
Value ($)
%
Options
Notes
51 NORTHROP GRUMMAN CORP 23,400 2,887 0.83%
52 WILEY JOHN SONS INC 47,100 2,715 0.78%
53 DOVER CORP 32,500 2,657 0.77%
54 REYNOLDS AMERICAN INC 48,300 2,580 0.74%
55 MUELLER INDS INC COM 85,646 2,569 0.74%
56 BRUNSWICK CORP 56,000 2,536 0.73%
57 ILLINOIS TOOL WKS INC 31,100 2,529 0.73%
58 WESTERN UN CO 153,900 2,518 0.73%
59 FORD MTR CO DEL 161,000 2,512 0.72%
60 MANPOWERGROUP INC 31,400 2,475 0.71%
61 AMERICAN INTL GROUP INC 46,300 2,315 0.67%
62 LOEWS CORP 52,100 2,295 0.66%
63 EXELIS INC 112,300 2,135 0.62%
64 AVIS BUDGET GROUP 43,100 2,099 0.61%
65 DOMTAR CORP 18,000 2,020 0.58%
66 ACE LTD 20,200 2,001 0.58%
67 PUBLIC SVC ENTERPRISE GRP IN 50,800 1,938 0.56%
68 RAYONIER INC 42,000 1,928 0.56%
69 LEAR CORP 22,900 1,917 0.55%
70 FIRST REP BK SAN FRANCISCO C 32,100 1,733 0.50%
71 GENUINE PARTS CO 19,100 1,659 0.48%
72 FRANKLIN RESOURCES INC 30,600 1,658 0.48%
73 CBRE GROUP INC 58,100 1,594 0.46%
74 PROGRESSIVE CORP OHIO 65,500 1,586 0.46%
75 BANK NEW YORK MELLON CORP 44,900 1,585 0.46%
76 INGREDION INC 22,900 1,559 0.45%
77 BROWN FORMAN CORP 17,200 1,543 0.45%
78 SNAP ON INC 13,200 1,498 0.43%
79 ALLIANT ENERGY CORP 25,900 1,471 0.42%
80 PROTECTIVE LIFE CO 27,300 1,436 0.41%
81 XEROX CORP 119,300 1,348 0.39%
82 PACCAR INC 19,600 1,322 0.38%
83 STEELCASE INC 78,900 1,311 0.38%
84 SCANA 24,900 1,278 0.37%
85 MUELLER WTR PRODUCTS INCORPORATED COM SER A 131,300 1,247 0.36%
86 AMERICAN WTR WKS CO INC NEW 25,700 1,167 0.34%
87 WABCO HLDGS INC 10,800 1,140 0.33%
88 SOUTHERN COPPER CORP 35,800 1,042 0.30%
89 SL GREEN RLTY CORP 10,300 1,036 0.30%
90 AMERISOURCEBERGEN CORP 15,600 1,023 0.30%
91 NORFOLK SOUTHERN CORP 10,500 1,020 0.29%
92 CABOT CORP 17,100 1,010 0.29%
93 KOHLS 17,100 971 0.28%
94 HORMEL FOODS CORP 19,000 936 0.27%
95 ALASKA AIR GROUP INC 9,600 896 0.26%
96 PBF ENERGY INC 34,400 888 0.26%
97 HUBBELL INC CLASS B 7,100 851 0.25%
98 COVIDIEN PLC 11,200 825 0.24%
99 PITNEY BOWES INC 31,500 819 0.24%
100 RAYTHEON CO 7,800 771 0.22%
Page 2 of 6