Alerus Financial NA

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 13, 2024), Alerus Financial NA reported 161 stock positions worth $1.3 billion. Its top holding was Vanguard S&P 500 ETF (VOO) at 10.5% of the portfolio, followed by Dimensional World Ex US Core (DFAX, 7.5%) and iShares Core U.S. Aggregate (AGG, 5.8%). Compared with Q4 2023, it opened 16 new positions, sold out of 5, added to 30 and reduced 88. The biggest buy was Vanguard Long-Term Corp. Bond (VCLT, shares +5773%) and the biggest sale Vanguard Int-Term Corporate (VCIT, shares −96%).

Most Recent 13F
Q2 2026
Location
GRAND FORKS, ND
CIK
0000919458
Portfolio Value
$1.3B (Q1 2024)
SEC Filing
0000919458-24-000002 ↗ filed May 13, 2024

Holdings Value

0$500.0M$1.0B$1.5B$2.0B$2.5B Q1 2024: $1.3B $1.3B Q1 2024 Q2 2024: $1.3B Q2 2024 Q3 2024: $1.4B Q3 2024 Q4 2024: $1.3B Q4 2024 Q1 2025: $1.2B Q1 2025 Q2 2025: $1.4B Q2 2025 Q3 2025: $2.0B Q3 2025 Q4 2025: $2.0B Q4 2025 Q1 2026: $2.0B Q1 2026 Q2 2026: $2.3B Q2 2026

Holdings 161 stocks · $1.3B
VOO Vanguard S&P 500 ETF 10.50% 289,154 $139.0M Reduce -3.0%
DFAX Dimensional World Ex US Core 7.52% 3,914,964 $99.6M Reduce -0.8%
AGG iShares Core U.S. Aggregate 5.81% 785,455 $76.9M Add +2.1%
IXUS iShares Core Intl Stock ETF 5.46% 1,065,449 $72.3M Add +0.7%
MSFT Microsoft Corp. 4.06% 127,724 $53.7M Reduce -1.7%
ALRS Alerus Financial Corp. 3.72% 2,257,483 $49.3M Reduce -0.1%
AAPL Apple Inc. 3.13% 241,781 $41.5M Reduce -6.0%
NVDA Nvidia Corp. 2.85% 41,706 $37.7M Reduce -5.9%
IWR iShares Russell Mid-Cap ETF 2.64% 415,562 $34.9M Reduce -0.9%
VCLT Vanguard Long-Term Corp. Bond 2.29% 387,429 $30.3M Add +5772.8%
GOOGL Alphabet Inc. Class A 1.87% 164,286 $24.8M Add +5.0%
AVGO Broadcom Inc. 1.85% 18,450 $24.5M Add +99.2%
AMZN Amazon.com Inc. 1.85% 135,542 $24.4M Add +5.9%
JPM JPMorgan Chase & Co. 1.85% 122,035 $24.4M Reduce -2.4%
ETN Eaton Corp. PLC 1.41% 59,672 $18.7M Reduce -1.0%
LLY Eli Lilly & Co. 1.35% 22,916 $17.8M Reduce -3.9%
META Meta Platforms Inc. Class A 1.28% 34,892 $16.9M Reduce -3.8%
BRK.B Berkshire Hathaway Inc. Class B 1.09% 34,191 $14.4M Reduce -2.4%
XOM Exxon Mobil Corp. 1.08% 122,806 $14.3M Add +39.6%
V Visa Inc. Class A 1.02% 48,341 $13.5M Reduce -2.8%
CDNS Cadence Design SYS Inc. 0.92% 38,939 $12.1M Add +34.4%
AAAU Goldman Sachs Physical Gold 0.88% 528,228 $11.6M Reduce -0.0%
XLE SS Energy Select Sector 0.85% 119,293 $11.3M Reduce -24.2%
CLX Clorox Company 0.83% 71,905 $11.0M Add +0.8%
CVX Chevron Corp. 0.79% 66,614 $10.5M Add +1.8%
PH Parker Hannifin Corp. 0.79% 18,737 $10.4M Reduce -1.9%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.76% 52,600 $10.0M Reduce -0.8%
FITB Fifth Third Bancorp 0.74% 262,607 $9.8M Reduce -0.4%
COR Cencora Inc. 0.74% 40,172 $9.8M Reduce -1.4%
SO The Southern Co. 0.70% 129,259 $9.3M Add +41.9%
MRK Merck & Co. Inc. 0.67% 67,349 $8.9M Reduce -0.6%
WFC Wells Fargo & Co. 0.67% 152,666 $8.8M Reduce -2.3%
TLT iShares 20+ Year Treasury BD 0.65% 90,286 $8.5M New
ABBV Abbvie Inc. 0.64% 46,796 $8.5M Add +0.2%
ICLR Icon PLC 0.64% 25,286 $8.5M Reduce -0.9%
MET Metlife Inc. 0.64% 114,016 $8.4M Reduce -0.1%
TTWO Take-Two Interactive Softwre 0.63% 56,183 $8.3M Reduce -1.8%
XLK SS Technology Select Sector 0.63% 39,860 $8.3M Reduce -74.0%
INTC Intel Corp. 0.58% 173,549 $7.7M Reduce -1.0%
HEI Heico Corp. 0.57% 39,816 $7.6M Reduce -1.4%
T AT&T Inc. 0.57% 430,289 $7.6M Add +0.9%
BBY Best Buy Co. Inc. 0.57% 91,837 $7.5M Add +1.4%
GE General Electric 0.56% 42,308 $7.4M New
DLR Digital Realty Trust Inc. 0.56% 51,463 $7.4M New
UL Unilever PLC 0.55% 145,466 $7.3M Reduce -9.8%
QSR Restaurant Brands Intern 0.54% 89,674 $7.1M Add +0.3%
STX Seagate Technology Holdings 0.54% 76,353 $7.1M Reduce -1.5%
BSX Boston Scientific Corp. 0.53% 103,339 $7.1M Add +55.9%
ZTS Zoetis Inc. 0.51% 40,269 $6.8M Reduce -12.4%
UNP Union Pacific Corp. 0.51% 27,706 $6.8M Reduce -0.4%
OMC Omnicom Group 0.51% 70,251 $6.8M Add +0.6%
HPQ HP Inc. 0.50% 220,017 $6.6M Add +3.3%
VZ Verizon Communications Inc. 0.49% 155,222 $6.5M Add +0.6%
WDC Western Digital Corp. 0.49% 94,855 $6.5M Reduce -6.3%
MU Micron Technology Inc. 0.49% 54,802 $6.5M Reduce -1.0%
XCEM Columbia Em Core Ex-China 0.45% 193,445 $6.0M New
XLI SS Industrial Select Sector 0.44% 46,441 $5.8M Reduce -35.6%
MMM 3M Co. 0.43% 53,783 $5.7M Add +32.7%
NFLX Netflix Inc. 0.43% 9,331 $5.7M Reduce -0.8%
XLB SS Materials Select Sector 0.42% 59,852 $5.6M Add +0.9%
XLY SS Consumer Disc Select Sect 0.41% 29,318 $5.4M Reduce -43.6%
MNST Monster Beverage Corp. 0.39% 88,189 $5.2M Reduce -4.8%
ATR Aptargroup Inc. 0.39% 35,822 $5.2M Reduce -1.8%
TMO Thermo Fisher Scientific Inc. 0.37% 8,520 $5.0M Reduce -2.6%
WMT Walmart Inc. 0.37% 82,062 $4.9M Add +1.1%
DOW Dow Inc. 0.37% 83,965 $4.9M Reduce -24.9%
HAS Hasbro Inc. 0.37% 85,864 $4.9M Reduce -9.7%
ICE Intercontinental Exchange Inc. 0.36% 34,754 $4.8M Reduce -2.0%
WSO Watsco Inc. 0.36% 10,996 $4.7M Add +0.7%
XLP SS Consumer Staples Sel Sect 0.36% 61,689 $4.7M Reduce -45.9%
TSLA Tesla Inc. 0.34% 25,990 $4.6M Reduce -5.5%
ULTA Ulta Beauty Inc. 0.33% 8,443 $4.4M Reduce -1.3%
SPGI S&P Global Inc. 0.33% 10,207 $4.3M Reduce -1.7%
KVUE Kenvue Inc. 0.31% 190,173 $4.1M Reduce -7.5%
MRSH Marsh & McLennan Cos 0.31% 19,624 $4.0M Reduce -2.5%
MCD McDonald's Corp. 0.30% 14,293 $4.0M New
CP Canadian Pacific Kansas City 0.30% 45,592 $4.0M Reduce -2.4%
PINS Pinterest Inc. Class A 0.30% 114,383 $4.0M Reduce -4.7%
EQIX Equinix Inc. 0.30% 4,798 $4.0M Reduce -47.0%
ACN Accenture PLC Class A 0.29% 11,103 $3.8M Add +164.3%
UNH Unitedhealth Group Inc. 0.27% 7,353 $3.6M Reduce -37.5%
SHOP Shopify Inc. Class A 0.27% 45,845 $3.5M Reduce -2.2%
XBI SS SPDR S&P Biotech ETF 0.25% 34,797 $3.3M Reduce -0.2%
ORCL Oracle Corp. 0.25% 25,846 $3.2M Reduce -1.9%
TGT Target Corp. 0.22% 16,609 $2.9M New
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.22% 11,432 $2.9M Reduce -11.8%
ACGL Arch Capital Group Ltd. 0.21% 30,407 $2.8M New
AIZ Assurant Inc. 0.20% 14,297 $2.7M Reduce -35.4%
IVV iShares Core S&P 500 ETF 0.20% 5,062 $2.7M Add +1.9%
XLV SS Health Care Select Sector 0.20% 17,873 $2.6M Add +1005.3%
LNG Cheniere Energy Inc. 0.20% 16,154 $2.6M Reduce -8.5%
HD Home Depot Inc. 0.17% 5,739 $2.2M Add +0.0%
CYBR Cyberark Software Ltd./Israel 0.16% 8,171 $2.2M New
LIN Linde PLC 0.16% 4,630 $2.1M Add +321.3%
IVW iShares S&P 500 Growth ETF 0.14% 22,464 $1.9M No change
LULU Lululemon Athletica Inc. 0.14% 4,630 $1.8M New
XLU St Sr Utl SL SE SPDR ETF-Usd 0.12% 23,844 $1.6M New
ISRG Intuitive Surgical Inc. 0.11% 3,761 $1.5M Reduce -1.1%
OKTA Okta Inc. 0.11% 14,211 $1.5M Reduce -1.3%
XLF SS Financial Select Sector 0.11% 34,607 $1.5M New
ECL Ecolab Inc. 0.11% 6,051 $1.4M Reduce -1.1%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.10% 5,705 $1.4M No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.10% 5,375 $1.3M New
WCC Wesco International Inc. 0.09% 7,100 $1.2M Reduce -73.2%
VCIT Vanguard Int-Term Corporate 0.09% 14,906 $1.2M Reduce -95.9%
KO The Coca-Cola Co. 0.09% 19,012 $1.2M Reduce -0.9%
CZR Caesars Entertainment Inc. 0.09% 26,285 $1.1M Reduce -49.5%
DE Deere & Co. 0.08% 2,523 $1.0M Reduce -0.7%
SPY SS SPDR S&P 500 ETF Trust-US 0.08% 1,942 $1.0M Reduce -0.3%
TXN Texas Instruments Inc. 0.07% 5,456 $950K Reduce -80.2%
NKE Nike Inc. Class B 0.06% 8,863 $833K Reduce -79.5%
AXP American Express Co. 0.06% 3,550 $808K Reduce -0.5%
IWM iShares Russell 2000 ETF 0.06% 3,761 $791K Reduce -73.6%
IJH iShares Core S&P Midcap ETF 0.06% 12,350 $750K No change
BRK.A Berkshire Hathaway Inc. Class A 0.05% 1 $634K No change
IJK iShares S&P Mid-Cap 400 Grow 0.05% 6,784 $619K No change
COST Costco Wholesale Corp. 0.05% 844 $618K No change
IEF iShares 7-10 Year Treasury B 0.05% 6,443 $610K Reduce -92.6%
DHR Danaher Corp. 0.05% 2,421 $605K Reduce -0.2%
AMD Advanced Micro Devices 0.05% 3,328 $601K Reduce -0.5%
JNJ Johnson & Johnson 0.04% 3,761 $595K Reduce -3.1%
BX Blackstone Inc. 0.04% 4,473 $588K Reduce -0.6%
BUD Anheuser-Busch Inbev-SPN ADR 0.04% 9,574 $582K Reduce -7.9%
EFG iShares MSCI Eafe Growth ETF 0.04% 5,361 $556K Add +1.1%
CENTA Central Garden and Pet Co. Class A 0.04% 14,425 $533K Add +25.0%
CB Chubb Ltd. 0.04% 1,900 $492K No change
NSC Norfolk Southern Corp. 0.04% 1,910 $487K No change
QCOM Qualcomm Inc. 0.04% 2,865 $485K No change
USB US Bancorp 0.03% 10,299 $460K Reduce -5.8%
FCX Freeport-McMoran Inc. 0.03% 9,733 $458K Reduce -4.4%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.03% 11,938 $453K Reduce -1.6%
IJR iShares Core S&P Small-Cap E 0.03% 3,773 $417K No change
DVY iShares Select Dividend ETF 0.03% 3,304 $407K No change
MDT Medtronic PLC 0.03% 4,607 $401K No change
BG Bunge Global SA 0.03% 3,347 $343K No change
PG The Procter & Gamble Co. 0.03% 2,067 $335K Reduce -15.2%
ADBE Adobe Inc. 0.02% 651 $328K Reduce -0.8%
MS Morgan Stanley 0.02% 3,419 $322K No change
ABT Abbott Laboratories 0.02% 2,824 $321K No change
OTTR Otter Tail Corp. 0.02% 3,643 $315K No change
EMR Emerson Electric Co. 0.02% 2,558 $290K No change
ELV Elevance Health Inc. 0.02% 530 $275K Reduce -8.2%
MA Mastercard Inc. Class A 0.02% 568 $274K No change
CAT Caterpillar Inc. 0.02% 746 $273K Reduce -4.4%
CSCO Cisco Systems Inc. 0.02% 5,326 $266K Reduce -14.5%
SYK Stryker Corp. 0.02% 738 $264K No change
PRU Prudential Financial Inc. 0.02% 2,231 $262K Reduce -4.9%
LOW Lowe's Cos Inc. 0.02% 977 $249K No change
IQV Iqvia Holdings Inc. 0.02% 931 $235K Reduce -24.4%
FTV Fortive Corp. 0.02% 2,672 $230K New
WRAP Wrap Technologies Inc. 0.02% 97,760 $221K No change
NUE Nucor Corp. 0.02% 1,114 $220K New
ODFL Old Dominion Freight Line 0.02% 1,000 $219K Reduce -0.2%
SCCO Southern Copper Corp. 0.02% 2,000 $213K New
SYY Sysco Corp. 0.02% 2,563 $208K New
SNOW Snowflake Inc. 0.02% 1,279 $207K No change
SNAP Snap Inc. Class A 0.01% 16,630 $191K No change
OXSQ Oxford Square Capital Corp. 0.00% 10,000 $32K No change
BWEN Broadwind Inc. 0.00% 13,239 $32K No change
GLUCOTRACK INC 0.00% 69,279 $23K No change
RNAC Cartesian Therapeutics Inc. 0.00% 30,000 $20K No change

Portfolio Sells Q4 2023 → Q1 2024
VCIT Vanguard Int-Term Corporate Reduce -95.9% 0.09% −2.32
XLK SS Technology Select Sector Reduce -74.0% 0.63% −1.12
AAPL Apple Inc. Reduce -6.0% 3.13% −0.91
IEF iShares 7-10 Year Treasury B Reduce -92.6% 0.05% −0.64
ALRS Alerus Financial Corp. Reduce -0.1% 3.72% −0.41
XLY SS Consumer Disc Select Sect Reduce -43.6% 0.41% −0.35
DFAX Dimensional World Ex US Core Reduce -0.8% 7.52% −0.35
NKE Nike Inc. Class B Reduce -79.5% 0.06% −0.32
XLP SS Consumer Staples Sel Sect Reduce -45.9% 0.36% −0.31
TXN Texas Instruments Inc. Reduce -80.2% 0.07% −0.31
EQIX Equinix Inc. Reduce -47.0% 0.30% −0.30
WCC Wesco International Inc. Reduce -73.2% 0.09% −0.28
ZG Zillow Group Inc. Class A Sold out 0.00% −0.24
UNH Unitedhealth Group Inc. Reduce -37.5% 0.27% −0.23
XLI SS Industrial Select Sector Reduce -35.6% 0.44% −0.23
XLE SS Energy Select Sector Reduce -24.2% 0.85% −0.23
ZTS Zoetis Inc. Reduce -12.4% 0.51% −0.23
TSLA Tesla Inc. Reduce -5.5% 0.34% −0.21
PAYC Paycom Software Inc. Sold out 0.00% −0.18
IWM iShares Russell 2000 ETF Reduce -73.6% 0.06% −0.17
IYR iShares US Real Estate ETF Sold out 0.00% −0.15
INTC Intel Corp. Reduce -1.0% 0.58% −0.14
DOW Dow Inc. Reduce -24.9% 0.37% −0.13
VOO Vanguard S&P 500 ETF Reduce -3.0% 10.50% −0.12
TTWO Take-Two Interactive Softwre Reduce -1.8% 0.63% −0.12
CZR Caesars Entertainment Inc. Reduce -49.5% 0.09% −0.11
AIZ Assurant Inc. Reduce -35.4% 0.20% −0.10
UL Unilever PLC Reduce -9.8% 0.55% −0.09
PINS Pinterest Inc. Class A Reduce -4.7% 0.30% −0.06
KVUE Kenvue Inc. Reduce -7.5% 0.31% −0.05
LNG Cheniere Energy Inc. Reduce -8.5% 0.20% −0.05
SPGI S&P Global Inc. Reduce -1.7% 0.33% −0.05
UNP Union Pacific Corp. Reduce -0.4% 0.51% −0.04
MNST Monster Beverage Corp. Reduce -4.8% 0.39% −0.04
V Visa Inc. Class A Reduce -2.8% 1.02% −0.04
SHOP Shopify Inc. Class A Reduce -2.2% 0.27% −0.03
HAS Hasbro Inc. Reduce -9.7% 0.37% −0.03
AJG Arthur J Gallagher & Co. Reduce -11.8% 0.22% −0.02
IWR iShares Russell Mid-Cap ETF Reduce -0.9% 2.64% −0.02
XEL Xcel Energy Inc. Sold out 0.00% −0.02
PEP Pepsico Inc. Sold out 0.00% −0.02
HEI Heico Corp. Reduce -1.4% 0.57% −0.01
BUD Anheuser-Busch Inbev-SPN ADR Reduce -7.9% 0.04% −0.01
ICE Intercontinental Exchange Inc. Reduce -2.0% 0.36% −0.01
ULTA Ulta Beauty Inc. Reduce -1.3% 0.33% −0.01
ADBE Adobe Inc. Reduce -0.8% 0.02% −0.01
MRSH Marsh & McLennan Cos Reduce -2.5% 0.31% −0.01
CSCO Cisco Systems Inc. Reduce -14.5% 0.02% −0.01
IQV Iqvia Holdings Inc. Reduce -24.4% 0.02% −0.01
TMO Thermo Fisher Scientific Inc. Reduce -2.6% 0.37% −0.01

Portfolio Buys Q4 2023 → Q1 2024
VCLT Vanguard Long-Term Corp. Bond Add +5772.8% 2.29% +2.25
AVGO Broadcom Inc. Add +99.2% 1.85% +1.00
TLT iShares 20+ Year Treasury BD New 0.65% +0.65
GE General Electric New 0.56% +0.56
DLR Digital Realty Trust Inc. New 0.56% +0.56
XCEM Columbia Em Core Ex-China New 0.45% +0.45
XOM Exxon Mobil Corp. Add +39.6% 1.08% +0.36
MCD McDonald's Corp. New 0.30% +0.30
CDNS Cadence Design SYS Inc. Add +34.4% 0.92% +0.27
AMZN Amazon.com Inc. Add +5.9% 1.85% +0.26
TGT Target Corp. New 0.22% +0.22
BSX Boston Scientific Corp. Add +55.9% 0.53% +0.22
ACGL Arch Capital Group Ltd. New 0.21% +0.21
XLV SS Health Care Select Sector Add +1005.3% 0.20% +0.18
SO The Southern Co. Add +41.9% 0.70% +0.18
ACN Accenture PLC Class A Add +164.3% 0.29% +0.17
CYBR Cyberark Software Ltd./Israel New 0.16% +0.16
LULU Lululemon Athletica Inc. New 0.14% +0.14
LIN Linde PLC Add +321.3% 0.16% +0.13
XLU St Sr Utl SL SE SPDR ETF-Usd New 0.12% +0.12
XLF SS Financial Select Sector New 0.11% +0.11
VO Vngrd Mrngstr MD-Cap ETF-Usd New 0.10% +0.10
GOOGL Alphabet Inc. Class A Add +5.0% 1.87% +0.09
MMM 3M Co. Add +32.7% 0.43% +0.07
ABBV Abbvie Inc. Add +0.2% 0.64% +0.05
WMT Walmart Inc. Add +1.1% 0.37% +0.02
OMC Omnicom Group Add +0.6% 0.51% +0.02
FTV Fortive Corp. New 0.02% +0.02
VZ Verizon Communications Inc. Add +0.6% 0.49% +0.02
NUE Nucor Corp. New 0.02% +0.02
SCCO Southern Copper Corp. New 0.02% +0.02
SYY Sysco Corp. New 0.02% +0.02
IVV iShares Core S&P 500 ETF Add +1.9% 0.20% +0.01
XLB SS Materials Select Sector Add +0.9% 0.42% +0.01
HD Home Depot Inc. Add +0.0% 0.17% +0.00
CLX Clorox Company Add +0.8% 0.83% +0.00
EFG iShares MSCI Eafe Growth ETF Add +1.1% 0.04% +0.00
CENTA Central Garden and Pet Co. Class A Add +25.0% 0.04% −0.00
CVX Chevron Corp. Add +1.8% 0.79% −0.00
BBY Best Buy Co. Inc. Add +1.4% 0.57% −0.01
T AT&T Inc. Add +0.9% 0.57% −0.01
HPQ HP Inc. Add +3.3% 0.50% −0.02
WSO Watsco Inc. Add +0.7% 0.36% −0.02
QSR Restaurant Brands Intern Add +0.3% 0.54% −0.03
IXUS iShares Core Intl Stock ETF Add +0.7% 5.46% −0.15
AGG iShares Core U.S. Aggregate Add +2.1% 5.81% −0.42

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 504$2.3BVOO, DFAX, IWR, IXUS, VCRB
Q1 2026 508$2.0BVOO, DFAX, IWR, VCRB, IXUS
Q4 2025 506$2.0BVOO, DFAX, IWR, IXUS, VCRB
Q3 2025 531$2.0BVOO, DFAX, IXUS, VCRB, NVDA
Q2 2025 508$1.4BVOO, DFAX, IXUS, AGG, NVDA
Q1 2025 160$1.2BVOO, DFAX, AGG, IXUS, AAPL
Q4 2024 157$1.3BVOO, DFAX, AGG, IXUS, AAPL
Q3 2024 157$1.4BVOO, DFAX, AGG, IXUS, AAPL
Q2 2024 156$1.3BVOO, DFAX, AGG, IXUS, MSFT
Q1 2024 161$1.3BVOO, DFAX, AGG, IXUS, MSFT