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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 (2014Q3)
Original 13F HR (0001541895-14-000004) filed in 2014.11.12
#
Name
Shares
Value ($)
%
Options
Notes
51 GRAINGER W W INC 2,120 533 0.09%
52 EMERSON ELEC CO 884 553 0.10%
53 ABB LTD 25,334 566 0.10%
54 ISHARES IBOXX $ HIGH YIELD CORPORATE BOND ETF 6,225 573 0.10%
55 CARDINAL HEALTH INC 7,780 583 0.10%
56 ISHARES TR 8,230 608 0.11%
57 VANGUARD INDEX FDS 6,052 630 0.11%
58 DUKE ENERGY CORP NEW 8,713 654 0.11%
59 Ishares 2015 Amt-Free Muni Term Etf 12,531 660 0.11%
60 VANGUARD INDEX FDS 5,522 685 0.12%
61 ECOLAB INC 6,600 758 0.13%
62 CONSOLIDATED EDISON INC 13,322 759 0.13%
63 INTERNATIONAL BUSINESS MACHS 4,101 774 0.13%
64 INTEL CORP 22,473 783 0.14%
65 ROYAL DUTCH SHELL PLC 10,731 814 0.14%
66 MERCK & CO INC 13,848 821 0.14%
67 KRAFT HEINZ CO COM 14,580 822 0.14%
68 TOTAL S A 13,093 839 0.15%
69 ROYAL BK CDA MONTREAL QUE 11,826 844 0.15%
70 CONOCOPHILLIPS 12,933 916 0.16%
71 GENERAL MLS INC 18,351 928 0.16%
72 ISHARES TR 6,865 970 0.17%
73 ISHARES TR 17,324 1,092 0.19%
74 HOME DEPOT INC 13,130 1,208 0.21%
75 MCDONALDS CORP 14,877 1,410 0.24%
76 ISHARES TR 21,627 2,277 0.39%
77 VANGUARD WHITEHALL FDS 38,998 2,655 0.46%
78 DICKS SPORTING GOODS INC 60,841 2,669 0.46%
79 NORDSTROM INC 40,683 2,781 0.48%
80 ISHARES TR 14,149 2,864 0.50%
81 CITIGROUPINC 57,036 2,956 0.51%
82 DANAHER CORP DEL 39,225 2,980 0.52%
83 STATE STR CORP 40,956 3,015 0.52%
84 US BANCORP DEL 72,503 3,033 0.53%
85 MONSANTO CO NEW 27,158 3,055 0.53%
86 NATIONAL OILWELL VARCO INC 40,346 3,069 0.53%
87 BECTON DICKINSON & CO 27,060 3,080 0.53%
88 GOOGLE INC 5,370 3,100 0.54%
89 METLIFE INC 58,741 3,155 0.55%
90 CME GROUP INC 40,679 3,256 0.56%
91 LOWES COS INC 62,579 3,312 0.57%
92 UNITED TECHNOLOGIES CORP 31,474 3,324 0.58%
93 EATON CORP PLC 52,647 3,340 0.58%
94 PRAXAIR INC 26,268 3,387 0.59%
95 CELGENE CORP 36,083 3,421 0.59%
96 UNITEDHEALTH GROUP INC 40,895 3,528 0.61%
97 NIKE INC 39,637 3,536 0.61%
98 AMERICAN EXPRESS CO 40,454 3,541 0.61%
99 ACCENTURE PLC IRELAND 45,287 3,683 0.64%
100 F5 NETWORKS INC 31,138 3,698 0.64%
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