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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 (2016Q1)
Portfolio Summary: 287 holdings with a total value of $575,182,000.
#
Name
Shares
Value ($)
%
Options
Notes
201 HASBRO INC 31 2,000 0.00%
202 DOMINION ENERGY INC 30 2,000 0.00%
203 ATHENA HEALTH INC. 15 2,000 0.00%
204 SYSCO CORP 48 2,000 0.00%
205 TRAVELERS COMPANIES INC 17 2,000 0.00%
206 AUTOMATIC DATA PROCESSING IN 24 2,000 0.00%
207 UNILEVER PLC 50 2,000 0.00%
208 Linear Technology Corp 35 2,000 0.00%
209 WESTERN UN CO 92 2,000 0.00%
210 BMW UNSPONSORED ADR 50 2,000 0.00%
211 AMDOCS LTD 27 2,000 0.00%
212 HEALTHCARE SVCS GRP INC 50 2,000 0.00%
213 CSL LTD-SPONSORED ADR 44 2,000 0.00%
214 KROGER CO 50 2,000 0.00%
215 QUEST DIAGNOSTICS INC 31 2,000 0.00%
216 NOVO-NORDISK A S 42 2,000 0.00%
217 ROCKWELL COLLINS INC 22 2,000 0.00%
218 LOCKHEED MARTIN CORP 11 2,000 0.00%
219 BOSTON SCIENTIFIC CORP 91 2,000 0.00%
220 SYSMEX CORP ADR 72 2,000 0.00%
221 REGAL ENTMT GROUP 86 2,000 0.00%
222 RITCHIE BROS AUCTIONEERS 62 2,000 0.00%
223 BEACON ROOFING SUPPLY INC 54 2,000 0.00%
224 Endurance Specialty 28 2,000 0.00%
225 KDDI CORP ADR 86 1,000 0.00%
226 QUINTILES IMS HOLDINGS INC 14 1,000 0.00%
227 DOW CHEM CO 21 1,000 0.00%
228 ZOETIS INC 20 1,000 0.00%
229 JANUS CAP GROUP INC 88 1,000 0.00%
230 CHUBB LIMITED 11 1,000 0.00%
231 ONEOK PARTNERS LP 444 1,000 0.00%
232 SMUCKER J M CO 6 1,000 0.00%
233 MOTOROLA SOLUTIONS INC 17 1,000 0.00%
234 SCHWAB CHARLES CORP 18 1,000 0.00%
235 EVERSOURCE ENERGY 17 1,000 0.00%
236 ROLLINS INC 45 1,000 0.00%
237 ECHO GLOBAL LOGISTICS INC COM 39 1,000 0.00%
238 SYNCHRONY FINL 24 1,000 0.00%
239 NISOURCE 47 1,000 0.00%
240 SONOCO PRODS CO 21 1,000 0.00%
241 EXPEDITORS INTL WASH INC 19 1,000 0.00%
242 BIO TECHNE CORP 15 1,000 0.00%
243 MEDNAX INC 23 1,000 0.00%
244 WORTHINGTON INDS INC 30 1,000 0.00%
245 FRESENIUS MED CARE AG&CO KGA 33 1,000 0.00%
246 ENTERGY CORP NEW 13 1,000 0.00%
247 GOLDMAN SACHS GROUP INC 7 1,000 0.00%
248 Servicemaster Global Hldgs I 17 1,000 0.00%
249 THERMO FISHER SCIENTIFIC INC 5 1,000 0.00%
250 RELX NV 76 1,000 0.00%
Page 5 of 6

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001541895-16-000006, filed 2016.05.04).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.