UNITED STATES ------------- SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2011 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager: Name: United Fire & Casualty Company Address: 118 Second Avenue SE Cedar Rapids IA 52401 Form 13F File Number: 28-6427 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 the Reporting Manager: Name: Kevin W. Helbing Title: Controller Phone: 319 286-2533 Signature, Place and Date of Signing: /s/ Kevin W. Helbing Cedar Rapids, IA 5/11/2011 ----------------------- Kevin W. Helbing 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 reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 100 Form 13F Information Table Value Total: $ 161,598 (in thousands) List of Other Included Managers: NONE FORM 13F INFORMATION TABLE VOTING AUTHORITY VALUE SHARES/ SH/ PUT/ INVSTMNT OTHER ------------------- NAME OF ISSUER TITLE OF CLASS CUSIP (x $1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ---------------------------------- -------------- ----------- --------- ------- --- ---- -------- -------- ------- ------ ---- AT&T Inc Common 00206R-10-2 3,112 101,660 SH Sole 101,660 Abbott Laboratories Common 002824-10-0 11,036 225,000 SH Sole 225,000 Agilysys Inc Common 00847J-10-5 1,212 211,187 SH Sole 211,187 Alliant Energy Corporation Common 018802-10-8 4,757 122,200 SH Sole 122,200 Altera Corp Common 021441-10-0 220 5,000 SH Sole 5,000 American Strategic Inc Common 030099-10-5 230 50,840 SH Sole 50,840 Amerisourcebergen Corp Common 03073E-10-5 237 6,000 SH Sole 6,000 BCE Inc Common 05534B-76-0 539 14,823 SH Sole 14,823 BRE Properties Inc Common 05564E-10-6 849 18,000 SH Sole 18,000 Bank of America Corporation Common 060505-10-4 1,866 140,000 SH Sole 140,000 Becton Dickinson and Co Common 075887-10-9 159 2,000 SH Sole 2,000 Bed Bath & Beyond Inc Common 075896-10-0 290 6,000 SH Sole 6,000 Bemis Company Inc Common 081437-10-5 1,030 31,400 SH Sole 31,400 Boeing Company Common 097023-10-5 5,545 75,000 SH Sole 75,000 CF Industral Inc Holdings Common 125269-10-0 417 3,046 SH Sole 3,046 CIT Group Inc Common 125581-80-1 2,343 55,065 SH Sole 55,065 Campbell Soup Co Common 134429-10-9 331 10,000 SH Sole 10,000 Cincinnati Financial Corp Common 172062-10-1 10,502 320,276 SH Sole 320,276 Coca-Cola Co/The Common 191216-10-0 265 4,000 SH Sole 4,000 Colgate-Palmolive Co Common 194162-10-3 323 4,000 SH Sole 4,000 ConocoPhillips Common 20825C-10-4 803 10,059 SH Sole 10,059 Consolidated Edison Inc Common 209115-10-4 76 1,500 SH Sole 1,500 Cummins Inc Common 231021-10-6 8,439 76,980 SH Sole 76,980 Danaher Corp Common 235851-10-2 208 4,000 SH Sole 4,000 Dean Foods Company Common 242370-10-4 80 8,000 SH Sole 8,000 Deere & Company Common 244199-10-5 1,938 20,000 SH Sole 20,000 Dollar Tree Inc Common 256746-10-8 167 3,000 SH Sole 3,000 Dow Chemical Company Common 260543-10-3 6,418 170,000 SH Sole 170,000 Duke Energy Corporation Common 26441C-10-5 2,690 148,192 SH Sole 148,192 Emerson Electric Co Common 291011-10-4 736 12,600 SH Sole 12,600 Express Scripts Inc Common 302182-10-0 222 4,000 SH Sole 4,000 Exxon Mobil Corporation Common 30231G-10-2 3,365 40,000 SH Sole 40,000 Factset Research Systems Inc Common 303075-10-5 314 3,000 SH Sole 3,000 Federal-Mogul Corporation Common 313549-40-4 958 38,457 SH Sole 38,457 Fidelity National Information Common 31620M-10-6 319 9,758 SH Sole 9,758 Fidelity NationalFinancial Inc Common 31620R-10-5 314 22,201 SH Sole 22,201 Frontier Communications Corp Common 35906A-10-8 110 13,439 SH Sole 13,439 Arthur J Gallagher & Co Common 363576-10-9 314 10,321 SH Sole 10,321 General Dynamics Corp Common 369550-10-8 383 5,000 SH Sole 5,000 General Electric Company Common 369604-10-3 5,514 275,000 SH Sole 275,000 GenOn Energy Inc Common 37244E-10-7 306 80,347 SH Sole 80,347 Gildan Activewear Inc Common 375916-10-3 49 1,500 SH Sole 1,500 H J Heinz Company Common 423074-10-3 2,197 45,000 SH Sole 45,000 Honeywell International Inc Common 438516-10-6 2,269 38,000 SH Sole 38,000 Hospira Inc Common 441060-10-0 883 16,000 SH Sole 16,000 ITT Corp Common 450911-10-2 150 2,500 SH Sole 2,500 Intel Corporation Common 458140-10-0 1,211 60,000 SH Sole 60,000 Intl Business Machines Corp Common 459200-10-1 489 3,000 SH Sole 3,000 JPMorgan Chase & Co Common 46625H-10-0 2,662 57,736 SH Sole 57,736 Jacobs Engineering Group Inc Common 469814-10-7 51 1,000 SH Sole 1,000 Johnson & Johnson Common 478160-10-4 2,252 38,000 SH Sole 38,000 Jos A Bank Clothiers Inc Common 480838-10-1 76 1,500 SH Sole 1,500 Linear Technology Corp Common 535678-10-6 135 4,000 SH Sole 4,000 Lowes Cos Inc Common 548661-10-7 449 17,000 SH Sole 17,000 Mccormick & Co-Non Vtg Shrs Common 579780-20-6 96 2,000 SH Sole 2,000 McDonalds Corp Common 580135-10-1 380 5,000 SH Sole 5,000 Medtronic Inc Common 585055-10-6 984 25,000 SH Sole 25,000 Merck & Co Inc Common 58933Y-10-5 190 5,767 SH Sole 5,767 Metlife Inc Common 59156R-10-8 81 1,800 SH Sole 1,800 National Presto Inds Inc Common 637215-10-4 113 1,000 SH Sole 1,000 Newell Rubbermaid Inc Common 651229-10-6 876 45,766 SH Sole 45,766 Nicor Inc Common 654086-10-7 2,148 40,000 SH Sole 40,000 Nike Inc -Cl B Common 654106-10-3 227 3,000 SH Sole 3,000 Novellus Systems Inc Common 670008-10-1 186 5,000 SH Sole 5,000 Old Republic International Cor Common 680223-10-4 3,232 254,690 SH Sole 254,690 Omnicom Group Common 681919-10-6 147 3,000 SH Sole 3,000 Oracle Corp Common 68389X-10-5 234 7,000 SH Sole 7,000 PepsiCo Inc Common 713448-10-8 1,481 23,000 SH Sole 23,000 Pfizer Inc Common 717081-10-3 812 40,000 SH Sole 40,000 Piper Jaffray Cos Common 724078-10-0 345 8,329 SH Sole 8,329 Plains All Amer Pipeline Lp Common 726503-10-5 191 3,000 SH Sole 3,000 Procter & Gamble Company Common 742718-10-9 4,682 76,000 SH Sole 76,000 Progress Energy Inc Common 743263-10-5 883 19,131 SH Sole 19,131 Progress Energy Inc CVO Common 743263-AA-3 - 15,000 SH Sole 15,000 QCR Holdings Inc Common 74727A-10-4 699 83,181 SH Sole 83,181 Roomstore Inc Common 77638R-10-8 4 6,549 SH Sole 6,549 Royal Dutch Shell ADR Common 780259-20-6 2,914 40,000 SH Sole 40,000 Schlumberger Limited Common 806857-10-8 2,798 30,000 SH Sole 30,000 JM Smucker Co/The Common 832696-40-5 286 4,000 SH Sole 4,000 Spectra Energy Corporation Common 847560-10-9 2,558 94,096 SH Sole 94,096 Stryker Corp Common 863667-10-1 365 6,000 SH Sole 6,000 Teva Pharmaceutical Industries Ltd Common 881624-20-9 90 1,802 SH Sole 1,802 Texas Instruments Inc Common 882508-10-4 173 5,000 SH Sole 5,000 Tractor Supply Company Common 892356-10-6 239 4,000 SH Sole 4,000 Treehouse Foods Inc Common 89469A-10-4 549 9,652 SH Sole 9,652 U S Bancorp Common 902973-30-4 18,633 704,984 SH Sole 704,984 Union Pacific Corp Common 907818-10-8 246 2,500 SH Sole 2,500 United Continental Holdings Inc Common 910047-10-9 1 51 SH Sole 51 VF Corp Common 918204-10-8 296 3,000 SH Sole 3,000 Varian Medical Systems Inc Common 92220P-10-5 68 1,000 SH Sole 1,000 Vectren Corporation Common 92240G-10-1 725 26,658 SH Sole 26,658 Verizon Communications Inc Common 92343V-10-4 2,158 55,997 SH Sole 55,997 Wal-Mart Stores Inc Common 931142-10-3 182 3,500 SH Sole 3,500 Walgreen Co Common 931422-10-9 401 10,000 SH Sole 10,000 Waste Management Inc Common 94106L-10-9 75 2,000 SH Sole 2,000 Wells Fargo & Company Common 949746-10-1 8,089 255,086 SH Sole 255,086 Windstream Corporation Common 97381W-10-4 167 12,942 SH Sole 12,942 Wintrust Financial Corporation Common 97650W-10-8 8,472 230,523 SH Sole 230,523 Xcel Energy, Inc. Common 98389B-10-0 2,150 90,000 SH Sole 90,000 Montpelier Re Holdings Ltd Common G62185-10-6 162 9,189 SH Sole 9,189 Report Summary Data Records 100 161,598 0 other managers on whose behalf report is filed