NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION

The National Rural Electric Cooperative Association is a national service organization based out of Arlington, Virginia operating within the United States. The organization was established in 1942 and represents over 900 not-for-profit rural electric cooperatives and public power districts in the United States. The National Rural Electric Cooperative Association are made out of 840 distributions and 65 generation and transmission cooperatives, totaling 905 of the association’s members. The association currently services over 42 million customers located in 47 states with its operations accounting for 12% of the total electricity sales in the United States. The National Rural Electric Cooperative Association currently owns over $140 billion in total assets including over 2.5 million miles of the electric distribution lines in the U.S., making up 42% of its total lines that covers three quarters of the U.S. landmass. The association currently employs over 70,000 people and brings in over $350 billion in total revenue from its over 3,000 total organizations. As the leading group organization, the National Rural Electric Cooperative Association also holds annual meetings of its cooperatives, rural leaders, and consumers as well as holding expositions of various related equipment and products. The association operates its asset management business through its National Rural Electric Cooperative Association, Asset Management Arm, investing in the various equity markets within the United States. The association invests most heavily in the industrials sector, which alone makes up over a fifth of its total asset allocations, and the organization also invests in a variety of other sectors including health care, finance, information technology, energy, consumer discretionary, and materials sectors, among others to a lesser degree, in order of decreasing asset allocation. National Rural Electric Cooperative Association’s top holdings includes Bristol Myers Squibb Co., Cisco Sys Inc., JPMorgan Chase & Co., General Electric Co., and others with its top 10 holdings making up approximately a quarter of its total holdings.