Dark
Light
System
Institutional Investment Manager
Alerus Investment Advisors Corp
Alerus Investment Advisors Corp (CIK: 0001541895) incorporated in Iowa, located at 10900 Wayzata Blvd., Wayzata, MN. Institutional holdings reported to the SEC.

Institutional Holdings (2014Q2)
Original 13F HR (0001541895-14-000003) filed in 2014.08.07
#
Name
Shares
Value ($)
%
Options
Notes
151 VANGUARD INTL EQUITY INDEX F 7,601 328 0.06%
152 VANGUARD INTL EQUITY INDEX F 136 7 0.00%
153 VANGUARD SCOTTSDALE FDS 94,036 8,508 1.47%
154 VANGUARD TAX-MANAGED FDS 13,174 561 0.10%
155 VANGUARD WHITEHALL FDS 34,134 2,264 0.39%
156 VERIZON COMMUNICATIONS INC 77,996 3,816 0.66%
157 VISA INC 23,500 4,952 0.85%
158 WAL-MART STORES INC 47,440 3,561 0.61%
159 WELLS FARGO & CO NEW 101,113 5,315 0.92%
160 WISDOMTREE TR 785 38 0.01%
161 WISDOMTREE TR 658 34 0.01%
162 WISDOMTREE TR 1,007 48 0.01%
Page 4 of 4