Alerus Investment Advisors

Alerus Investment Advisors Corporation as of Dec. 31, 2011

Portfolio Holdings for Alerus Investment Advisors Corporation

Alerus Investment Advisors Corporation holds 96 positions in its portfolio as reported in the December 2011 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Spdr S&p 500 Etf (SPY) 7.6 $29M 227k 125.50
Microsoft Corporation (MSFT) 6.3 $24M 916k 25.96
Vanguard Mid-Cap Growth ETF (VOT) 3.6 $14M 227k 59.54
Exxon Mobil Corporation (XOM) 3.2 $12M 143k 84.76
Vanguard Mid-Cap Value ETF (VOE) 3.0 $11M 217k 51.67
Apple (AAPL) 2.7 $10M 25k 404.99
General Electric Company 2.4 $9.1M 510k 17.91
Wells Fargo & Company (WFC) 2.3 $8.5M 308k 27.56
Chevron Corporation (CVX) 2.1 $8.0M 75k 106.40
Abbott Laboratories (ABT) 2.1 $7.7M 137k 56.23
McDonald's Corporation (MCD) 2.0 $7.6M 76k 100.33
JPMorgan Chase & Co. (JPM) 2.0 $7.5M 227k 33.25
Procter & Gamble Company (PG) 1.9 $7.2M 108k 66.71
Philip Morris International (PM) 1.9 $7.0M 89k 78.48
Google 1.9 $7.0M 11k 645.91
Intel Corporation (INTC) 1.6 $6.0M 248k 24.25
Walt Disney Company (DIS) 1.5 $5.6M 149k 37.50
Oracle Corporation (ORCL) 1.4 $5.3M 207k 25.65
American Express Company (AXP) 1.4 $5.3M 112k 47.17
At&t (T) 1.4 $5.2M 172k 30.24
Pepsi (PEP) 1.3 $5.0M 75k 66.35
Cardinal Health (CAH) 1.3 $4.8M 118k 40.61
Apache Corporation 1.3 $4.8M 53k 90.58
EMC Corporation 1.3 $4.8M 222k 21.54
Wal-Mart Stores (WMT) 1.3 $4.8M 80k 59.76
Cisco Systems (CSCO) 1.2 $4.6M 252k 18.08
Verizon Communications (VZ) 1.2 $4.5M 113k 40.12
AFLAC Incorporated (AFL) 1.2 $4.4M 101k 43.26
Boeing Company (BA) 1.1 $4.2M 58k 73.35
United Technologies Corporation 1.1 $4.2M 58k 73.09
CVS Caremark Corporation (CVS) 1.1 $4.1M 101k 40.78
General Mills (GIS) 1.1 $4.1M 101k 40.41
Nike (NKE) 1.1 $4.1M 42k 96.38
Norfolk Southern (NSC) 1.0 $3.8M 53k 72.86
Kohl's Corporation (KSS) 1.0 $3.8M 77k 49.36
Target Corporation (TGT) 1.0 $3.8M 75k 51.23
Praxair 1.0 $3.7M 35k 106.91
Baxter International (BAX) 1.0 $3.6M 73k 49.48
Eaton Corporation 1.0 $3.6M 83k 43.53
E.I. du Pont de Nemours & Company 1.0 $3.6M 78k 45.79
UnitedHealth (UNH) 1.0 $3.6M 71k 50.67
Nextera Energy (NEE) 0.9 $3.6M 59k 60.87
Becton, Dickinson and (BDX) 0.9 $3.5M 47k 74.73
Covidien 0.9 $3.4M 76k 45.01
Visa (V) 0.9 $3.4M 33k 101.52
TJX Companies (TJX) 0.9 $3.3M 52k 64.54
Johnson Controls 0.9 $3.3M 106k 31.26
Prudential Financial (PRU) 0.9 $3.2M 64k 50.12
Cognizant Technology Solutions (CTSH) 0.8 $3.1M 48k 64.30
Gilead Sciences (GILD) 0.8 $3.1M 75k 40.92
Emerson Electric (EMR) 0.8 $3.0M 65k 46.60
Colgate-Palmolive Company (CL) 0.8 $3.0M 33k 92.40
Accenture (ACN) 0.8 $3.0M 56k 53.23
General Dynamics Corporation (GD) 0.8 $3.0M 45k 66.41
Principal Financial (PFG) 0.8 $2.9M 120k 24.60
C.R. Bard 0.8 $3.0M 35k 85.51
State Street Corporation (STT) 0.8 $2.9M 72k 40.31
National-Oilwell Var 0.8 $2.9M 43k 68.00
Expeditors International of Washington (EXPD) 0.8 $2.8M 68k 40.95
Teva Pharmaceutical Industries (TEVA) 0.7 $2.8M 69k 40.36
ProShares UltraShort Euro (EUO) 0.7 $2.5M 124k 20.35
Baker Hughes Incorporated 0.6 $2.3M 47k 48.64
Broadcom Corporation 0.6 $2.1M 70k 29.36
Peabody Energy Corporation 0.5 $2.0M 60k 33.10
Juniper Networks (JNPR) 0.5 $1.9M 92k 20.41
Noble Corporation Com Stk 0.5 $1.8M 61k 30.23
Comcast Corporation (CMCSA) 0.5 $1.7M 74k 23.71
Cme (CME) 0.5 $1.7M 7.1k 243.64
Halliburton Company (HAL) 0.4 $1.6M 45k 34.52
First Advantage Ban (FABK) 0.4 $1.4M 108k 12.87
Mosaic (MOS) 0.4 $1.3M 27k 50.42
Kellogg Company (K) 0.3 $1.1M 21k 50.55
Monsanto Company 0.2 $827k 12k 70.08
Medtronic 0.2 $722k 19k 38.23
BlackRock (BLK) 0.2 $633k 3.6k 178.31
SIFCO Industries (SIF) 0.2 $655k 33k 19.91
Paccar (PCAR) 0.1 $580k 16k 37.47
Nabors Industries 0.1 $557k 32k 17.35
International Business Machines (IBM) 0.1 $506k 2.8k 183.73
Coca-Cola Company (KO) 0.1 $486k 6.9k 70.01
iShares Dow Jones Select Dividend (DVY) 0.1 $454k 8.5k 53.73
Barrick Gold Corp (GOLD) 0.1 $428k 9.5k 45.29
W.W. Grainger (GWW) 0.1 $405k 2.2k 187.15
Ecolab (ECL) 0.1 $382k 6.6k 57.88
Vanguard Mid-Cap ETF (VO) 0.1 $367k 5.1k 71.96
ConocoPhillips (COP) 0.1 $340k 4.7k 72.81
BP (BP) 0.1 $315k 7.4k 42.79
Home Depot (HD) 0.1 $304k 7.2k 42.11
Altria (MO) 0.1 $285k 9.6k 29.64
iShares Lehman Aggregate Bond (AGG) 0.1 $309k 2.8k 110.36
Ishares Trust high yld 0.1 $313k 3.5k 89.43
Patterson Companies (PDCO) 0.1 $252k 8.5k 29.53
Johnson & Johnson (JNJ) 0.1 $217k 3.3k 65.56
CF Industries Holdings (CF) 0.1 $228k 1.6k 144.76
Black Hills Corporation (BKH) 0.1 $219k 6.5k 33.51
Financial Select Sector SPDR (XLF) 0.1 $194k 15k 12.99