CIK: 0000919458
Total reported value
$2.0B
Reporting period: 2026-03-31 · Number of holdings: 515
ALERUS FINANCIAL NA disclosed 515 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $2.0B and a quarterly turnover rate of 13.7%.
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Alerus Financial NA's disclosed holdings carry a Herfindahl concentration index of 0.080 — mathematically equivalent to about 12 equally-sized positions, well below its 515 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 6.32), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 42% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim VOO
+0.7% -$19.3M
Add DFAX
-0.2% $9.9M
Trim MSFT
+0.3% -$11.8M
Add XOM
+3.8% $6.5M
Trim AVGO
-3.3% -$5.6M
Trim LLY
-8.0% -$4.5M
Showing top 200 holdings (of 515 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 22.44% | -0.68% | +0.66% | |
| 2 | DFAX | Dimensional World Ex US Core | ETF-Other | 14.15% | +0.65% | -0.19% | |
| 3 | IWR | Ishares Russell Mid-cap ETF | ETF-Other | 4.71% | +0.18% | +1.75% | |
| 4 | VCRB | Vanguard Core Bond ETF | ETF-Other | 3.63% | — | +1.26% | |
| 5 | IXUS | Ishares Core Intl Stock ETF | ETF-Other | 3.63% | -0.07% | -5.31% | |
| 6 | NVDA | Nvidia CORP | Stock-Tech | 2.91% | -0.19% | -0.66% | |
| 7 | ALRS | Alerus Financial CORP | Stock-Other | 2.63% | +0.11% | -2.07% | |
| 8 | AAPL | Apple INC | Stock-Tech | 2.34% | -0.14% | -0.06% | |
| 9 | MSFT | Microsoft CORP | Stock-Tech | 1.94% | -0.55% | +0.34% | |
| 10 | AVGO | Broadcom INC | Stock-Tech | 1.79% | -0.25% | -3.29% | |
| 11 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.66% | -0.19% | -3.40% | |
| 12 | VCLT | Vanguard Long-term CORP Bond | ETF-Corp Bonds | 1.51% | — | +4.37% | |
| 13 | AMZN | Amazon.com INC | Stock-Consumer Disc | 1.25% | -0.12% | -0.40% | |
| 14 | VCSH | Vanguard S/t CORP Bond ETF | ETF-Corp Bonds | 1.07% | — | +7.41% | |
| 15 | XOM | Exxon Mobil CORP | Stock-Energy | 1.02% | +0.33% | +3.76% | |
| 16 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.98% | -0.08% | -0.19% | |
| 17 | TSLA | Tesla INC | Stock-Consumer Disc | 0.83% | -0.20% | -3.82% | |
| 18 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.83% | -0.21% | -8.03% | |
| 19 | VTWO | Vanguard Russell 2000 ETF | ETF-Small Cap | 0.80% | — | -3.40% | |
| 20 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.77% | -0.10% | +1.60% | |
| 21 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.76% | +0.18% | +9.44% | |
| 22 | AAAU | Goldman Sachs Physical Gold | ETF-Commodities | 0.70% | — | — | |
| 23 | CSCO | Cisco Systems INC | Stock-Tech | 0.62% | +0.11% | +17.59% | |
| 24 | VZ | Verizon Communications INC | Stock-Comm Services | 0.60% | +0.16% | +9.67% | |
| 25 | WMT | Walmart INC | Stock-Consumer Staples | 0.56% | — | +1.61% | |
| 26 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.55% | — | +4.55% | |
| 27 | ETN | Eaton Corporation plc | Stock-Industrials | 0.54% | — | -14.59% | |
| 28 | TLT | Ishares 20+ Year Treasury Bd | ETF-Gov Bonds | 0.53% | — | +5.05% | |
| 29 | SO | Southern Co/the | Stock-Utilities | 0.53% | -0.10% | -25.81% | |
| 30 | IBM | Intl Business Machines CORP | Stock-Tech | 0.52% | -0.13% | -4.36% | |
| 31 | HPE | Hewlett Packard Enterprise | Stock-Tech | 0.50% | -0.10% | -17.29% | |
| 32 | MU | Micron Technology INC | Stock-Tech | 0.48% | — | -2.14% | |
| 33 | ABBV | Abbvie INC | Stock-Healthcare | 0.48% | — | +11.33% | |
| 34 | PH | Parker Hannifin CORP | Stock-Industrials | 0.44% | — | -2.74% | |
| 35 | GE | General Electric | Stock-Industrials | 0.43% | -0.09% | -10.63% | |
| 36 | T | At&t INC | Stock-Comm Services | 0.43% | — | -7.90% | |
| 37 | CVX | Chevron CORP | Stock-Energy | 0.42% | +0.13% | +5.46% | |
| 38 | VRT | Vertiv Holdings Co-a | Stock-Industrials | 0.42% | — | -22.16% | |
| 39 | UNH | Unitedhealth Group INC | Stock-Healthcare | 0.41% | -0.10% | -3.73% | |
| 40 | NFLX | Netflix INC | Stock-Comm Services | 0.39% | — | +4.11% | |
| 41 | COR | Cencora INC | Stock-Healthcare | 0.37% | — | -9.61% | |
| 42 | HD | Home Depot INC | Stock-Consumer Disc | 0.36% | — | +17.48% | |
| 43 | WFC | Wells Fargo & Co | Stock-Financials | 0.35% | — | -3.08% | |
| 44 | TFC | Truist Financial CORP | Stock-Financials | 0.35% | -0.07% | -11.75% | |
| 45 | TTWO | Take-two Interactive Softwre | Stock-Comm Services | 0.33% | -0.14% | -11.23% | |
| 46 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.32% | +0.12% | +34.98% | |
| 47 | CDNS | Cadence Design Sys INC | Stock-Tech | 0.31% | -0.11% | -17.14% | |
| 48 | CAT | Caterpillar INC | Stock-Industrials | 0.30% | — | -11.62% | |
| 49 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.30% | — | +30.17% | |
| 50 | LNG | Cheniere Energy INC | Stock-Energy | 0.29% | — | -20.90% |
Performance for Q3 2026
+3.8%
Performance Last 4 Quarters
+23.7%
Based on 66% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 515 | $2.0B | 14 | |
| 2025-12-31 | 513 | $2.0B | 16 | |
| 2025-09-30 | 539 | $2.0B | 58 | |
| 2025-06-30 | 511 | $1.4B | 0 | |
| 2025-03-31 | 161 | $1.2B | 100 | |
| 2024-12-31 | 158 | $1.3B | 0 | |
| 2024-09-30 | 158 | $1.4B | 0 | |
| 2024-06-30 | 157 | $1.3B | 0 | |
| 2024-03-31 | 162 | $1.3B | 0 | |
| 2023-12-31 | 152 | $1.2B | 0 | |
| 2023-09-30 | 153 | $1.1B | 0 | |
| 2023-06-30 | 158 | $1.2B | 0 | |
| 2023-03-31 | 164 | $1.1B | 0 | |
| 2022-12-31 | 165 | $1.1B | 0 | |
| 2022-09-30 | 151 | $1.0B | 0 | |
| 2022-06-30 | 165 | $1.1B | 0 | |
| 2022-03-31 | 179 | $1.2B | 0 | |
| 2021-12-31 | 184 | $1.2B | 0 | |
| 2021-09-30 | 182 | $1.1B | 0 | |
| 2021-06-30 | 191 | $991.6M | 100 | |
| 2021-03-31 | 185 | $948.6M | 26 | |
| 2020-12-31 | 191 | $984.5M | 23 | |
| 2020-09-30 | 166 | $888.4M | 20 | |
| 2020-06-30 | 158 | $850.4M | 25 | |
| 2020-03-31 | 152 | $722.8M | 30 | |
| 2019-12-31 | 157 | $877.8M | 24 | |
| 2019-09-30 | 148 | $773.1M | 23 | |
| 2019-06-30 | 149 | $741.3M | 13 | |
| 2019-03-31 | 150 | $717.6M | 27 | |
| 2018-12-31 | 135 | $652.4M | 27 | |
| 2018-09-30 | 138 | $731.1M | 13 | |
| 2018-06-30 | 137 | $704.5M | 9 | |
| 2018-03-31 | 136 | $696.4M | 22 | |
| 2017-12-31 | 132 | $705.7M | 21 | |
| 2017-09-30 | 123 | $686.5M | 11 | |
| 2017-06-30 | 122 | $674.4M | 8 | |
| 2017-03-31 | 123 | $652.1M | 11 | |
| 2016-12-31 | 120 | $618.9M | 29 | |
| 2016-09-30 | 122 | $618.3M | 16 | |
| 2016-06-30 | 116 | $597.7M | — |
Alerus Financial NA's most significant position changes for 2026-03-31: New buy: Unilever Plc-sponsored Adr (UL); Sold out: Cyberark Software LTD; Add: Vanguard S&p 500 ETF (VOO) — shares +0.66%; Trim: Dimensional World Ex US Core (DFAX) — shares -0.19%; Add: Microsoft CORP (MSFT) — shares +0.34%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | DFAX | Dimensional World Ex US Core | +0.7% | -0.19% | Trim |
| 2 | XOM | Exxon Mobil CORP | +0.3% | +3.76% | Add |
| 3 | JNJ | Johnson & Johnson | +0.2% | +9.44% | Add |
| 4 | IWR | Ishares Russell Mid-cap ETF | +0.2% | +1.75% | Add |
| 5 | VZ | Verizon Communications INC | +0.2% | +9.67% | Add |
| 6 | CVX | Chevron CORP | +0.1% | +5.46% | Add |
| 7 | MRK | Merck & Co. INC. | +0.1% | +34.98% | Add |
| 8 | CSCO | Cisco Systems INC | +0.1% | +17.59% | Add |
| 9 | ALRS | Alerus Financial CORP | +0.1% | -2.07% | Trim |
| 10 | AMD | Advanced Micro Devices | +0.1% | +354.76% | Add |
| 11 | DOW | Dow INC | +0.1% | +4260.38% | Add |
| 12 | EOG | Eog Resources INC | +0.1% | +1933.50% | Add |
| 13 | RTX | Rtx CORP | +0.1% | +2041.98% | Add |
| 14 | IXUS | Ishares Core Intl Stock ETF | -0.1% | -5.31% | Trim |
| 15 | TFC | Truist Financial CORP | -0.1% | -11.75% | Trim |
| 16 | BLK | Blackrock INC | -0.1% | -21.30% | Trim |
| 17 | JPM | Jpmorgan Chase & Co | -0.1% | -0.19% | Trim |
| 18 | COF | Capital One Financial CORP | -0.1% | -0.32% | Trim |
| 19 | SCHW | Schwab (charles) CORP | -0.1% | -23.88% | Trim |
| 20 | URI | United Rentals INC | -0.1% | -25.45% | Trim |
| 21 | PFG | Principal Financial Group | -0.1% | -34.32% | Trim |
| 22 | PRU | Prudential Financial INC | -0.1% | -17.42% | Trim |
| 23 | ROK | Rockwell Automation INC | -0.1% | -28.05% | Trim |
| 24 | MDT | Medtronic plc | -0.1% | -29.82% | Trim |
| 25 | GE | General Electric | -0.1% | -10.63% | Trim |
| 26 | BX | Blackstone INC | -0.1% | -27.51% | Trim |
| 27 | SO | Southern Co/the | -0.1% | -25.81% | Trim |
| 28 | UNH | Unitedhealth Group INC | -0.1% | -3.73% | Trim |
| 29 | HPE | Hewlett Packard Enterprise | -0.1% | -17.29% | Trim |
| 30 | META | Meta Platforms Inc-class A | -0.1% | +1.60% | Add |
| 31 | MMM | 3m Co | -0.1% | -21.26% | Trim |
| 32 | HEI | Heico CORP | -0.1% | -14.53% | Trim |
| 33 | CDNS | Cadence Design Sys INC | -0.1% | -17.14% | Trim |
| 34 | ISRG | Intuitive Surgical INC | -0.1% | -14.49% | Trim |
| 35 | AMZN | Amazon.com INC | -0.1% | -0.40% | Trim |
| 36 | NOW | Servicenow INC | -0.1% | -36.45% | Trim |
| 37 | SHOP | Shopify INC - Class A | -0.1% | -12.06% | Trim |
| 38 | IBM | Intl Business Machines CORP | -0.1% | -4.36% | Trim |
| 39 | AAPL | Apple INC | -0.1% | -0.06% | Trim |
| 40 | TTWO | Take-two Interactive Softwre | -0.1% | -11.23% | Trim |
| 41 | BSX | Boston Scientific CORP | -0.2% | -8.59% | Trim |
| 42 | NVDA | Nvidia CORP | -0.2% | -0.66% | Trim |
| 43 | GOOGL | Alphabet Inc-cl A | -0.2% | -3.40% | Trim |
| 44 | TSLA | Tesla INC | -0.2% | -3.82% | Trim |
| 45 | LLY | Eli Lilly & Co | -0.2% | -8.03% | Trim |
| 46 | AVGO | Broadcom INC | -0.3% | -3.29% | Trim |
| 47 | MSFT | Microsoft CORP | -0.6% | +0.34% | Add |
| 48 | VOO | Vanguard S&p 500 ETF | -0.7% | +0.66% | Add |
| 49 | UL | Unilever Plc-sponsored Adr | — | NEW | New buy |
| 50 | ✓ | Cyberark Software LTD | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-12 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-13 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-10 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-13 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-13 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-12 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-08 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-13 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-12 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-12 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-13 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-12 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-11 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-13 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-12 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-13 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-14 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-12 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-11 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-13 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-13 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-06 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-04 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-13 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-08 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-10 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-14 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-13 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-09 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-04-27 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-13 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-10 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-11 | 13F-HR | View on EDGAR |
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