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Institutional Investment Manager
Vantage Investment Advisors, LLC
Vantage Investment Advisors, LLC (CIK: 0001599405) incorporated in Pennsylvania, located at 1375 Martin Street, State College, PA. Institutional holdings reported to the SEC.

Institutional Holdings (2015Q1)
Portfolio Summary: 851 holdings with a total value of $352,112,000.
#
Name
Shares
Value ($)
%
Options
Notes
51 ISHARES TR 16,274 1,854,000 0.53%
52 MORGAN STANLEY 49,081 1,752,000 0.50%
53 VANGUARD WHITEHALL FDS 24,212 1,654,000 0.47%
54 ISHARES TR 15,918 1,641,000 0.47%
55 ISHARES TR 8,496 1,457,000 0.41%
56 BERKSHIRE HATHAWAY INC DEL 9,641 1,391,000 0.40%
57 ENTERPRISE PRODS PARTNERS L 33,298 1,097,000 0.31%
58 DISCOVERY COMMUNICATNS NEW 36,662 1,081,000 0.31%
59 DISCOVERY COMMUNICATNS NEW 34,752 1,081,000 0.31%
60 Liberty Media. Liberty Cap Com 27,224 1,049,000 0.30%
61 ISHARES TR 8,794 1,046,000 0.30%
62 ISHARES RUSSELL 2000 GROWTH ETF 6,734 1,021,000 0.29%
63 UNITEDHEALTH GROUP INC 8,261 977,000 0.28%
64 COMCAST CORP NEW 16,504 925,000 0.26%
65 ISHARES TR 7,872 877,000 0.25%
66 ISHARES NASDAQ BIOTECHNOLOGY ETF 1,563 863,000 0.25%
67 ISHARES TR 6,890 839,000 0.24%
68 ISHARES TR 6,357 827,000 0.23%
69 NIKE INC 8,236 826,000 0.23%
70 VANGUARD INDEX FDS 9,833 823,000 0.23%
71 FACEBOOK INC 9,980 821,000 0.23%
72 M & T BK CORP 6,201 788,000 0.22%
73 INTEL CORP 24,500 766,000 0.22%
74 ORACLE CORP 17,711 764,000 0.22%
75 COMCAST CORP NEW 13,372 755,000 0.21%
76 NATIONAL FUEL GAS CO N J 12,338 744,000 0.21%
77 BOEING CO 4,940 741,000 0.21%
78 LIBERTY BROADBAND-C 13,092 741,000 0.21%
79 COLGATE PALMOLIVE CO 10,320 716,000 0.20%
80 VANGUARD INTL EQUITY INDEX F 17,456 713,000 0.20%
81 CHEVRON CORP NEW 6,685 702,000 0.20%
82 ISHARES TR 5,888 695,000 0.20%
83 VANGUARD WORLD FD 5,061 686,000 0.19%
84 ISHARES TR 15,745 686,000 0.19%
85 STARZ SERIES A 18,616 641,000 0.18%
86 VANGUARD INDEX FDS 5,918 619,000 0.18%
87 NORFOLK SOUTHERN CORP 5,960 613,000 0.17%
88 LAKELAND BANCORP INC COM 51,104 588,000 0.17%
89 VANGUARD SPECIALIZED FUNDS 7,244 583,000 0.17%
90 CINCINNATI FINL CORP 10,750 573,000 0.16%
91 ISHARES TR 5,032 557,000 0.16%
92 Kish Bancorp Inc. 12,980 545,000 0.15%
93 ISHARES TR 6,969 543,000 0.15%
94 WELLS FARGO & CO NEW 9,692 527,000 0.15%
95 CSX CORP 15,672 519,000 0.15%
96 BRISTOL MYERS SQUIBB CO 7,855 507,000 0.14%
97 SPDR SER TR 6,327 495,000 0.14%
98 LILLY ELI & CO 6,453 469,000 0.13%
99 ISHARES TR 4,412 463,000 0.13%
100 QUALCOMM INC 6,592 457,000 0.13%
Page 2 of 18

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001580642-15-001983, filed 2015.05.04).

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.