Alerus Financial NA

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 8, 2024), Alerus Financial NA reported 156 stock positions worth $1.3 billion. Its top holding was Vanguard S&P 500 ETF (VOO) at 10.7% of the portfolio, followed by Dimensional World Ex US Core (DFAX, 7.4%) and iShares Core U.S. Aggregate (AGG, 5.9%). Compared with Q1 2024, it opened 11 new positions, sold out of 16, added to 33 and reduced 83. The biggest buy was Apple (AAPL, shares +3%) and the biggest sale Alerus Financial (ALRS, shares −5%).

Most Recent 13F
Q2 2026
Location
GRAND FORKS, ND
CIK
0000919458
Portfolio Value
$1.3B (Q2 2024)
SEC Filing
0000919458-24-000003 ↗ filed Aug 8, 2024

Holdings Value

0$500.0M$1.0B$1.5B$2.0B$2.5B Q1 2024: $1.3B Q1 2024 Q2 2024: $1.3B $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 156 stocks · $1.3B
VOO Vanguard S&P 500 ETF 10.71% 286,632 $143.4M Reduce -0.9%
DFAX Dimensional World Ex US Core 7.38% 3,884,543 $98.7M Reduce -0.8%
AGG iShares Core U.S. Aggregate 5.86% 808,108 $78.4M Add +2.9%
IXUS iShares Core Intl Stock ETF 5.48% 1,085,216 $73.3M Add +1.9%
MSFT Microsoft Corp. 4.08% 121,992 $54.5M Reduce -4.5%
AAPL Apple Inc. 3.93% 249,476 $52.5M Add +3.2%
NVDA Nvidia Corp. 3.81% 413,003 $51.0M Reduce -1.0%
ALRS Alerus Financial Corp. 3.13% 2,134,233 $41.9M Reduce -5.5%
IWR iShares Russell Mid-Cap ETF 2.54% 418,596 $33.9M Add +0.7%
GOOGL Alphabet Inc. Class A 2.33% 171,092 $31.2M Add +4.1%
AVGO Broadcom Inc. 2.28% 18,959 $30.4M Add +2.8%
VCLT Vanguard Long-Term Corp. Bond 2.25% 396,287 $30.1M Add +2.3%
AMZN Amazon.com Inc. 2.09% 144,445 $27.9M Add +6.6%
JPM JPMorgan Chase & Co. 1.79% 118,325 $23.9M Reduce -3.0%
LLY Eli Lilly & Co. 1.47% 21,788 $19.7M Reduce -4.9%
ETN Eaton Corp. PLC 1.33% 56,680 $17.8M Reduce -5.0%
META Meta Platforms Inc. Class A 1.26% 33,351 $16.8M Reduce -4.4%
XOM Exxon Mobil Corp. 1.16% 134,945 $15.5M Add +9.9%
BRK.B Berkshire Hathaway Inc. Class B 1.02% 33,617 $13.7M Reduce -1.7%
V Visa Inc. Class A 0.94% 47,677 $12.5M Reduce -1.4%
AAAU Goldman Sachs Physical Gold 0.91% 528,228 $12.2M No change
CDNS Cadence Design SYS Inc. 0.82% 35,471 $10.9M Reduce -8.9%
XLE SS Energy Select Sector 0.80% 117,099 $10.7M Reduce -1.8%
SO The Southern Co. 0.76% 130,802 $10.1M Add +1.2%
PH Parker Hannifin Corp. 0.69% 18,121 $9.2M Reduce -3.3%
FITB Fifth Third Bancorp 0.68% 250,558 $9.1M Reduce -4.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.68% 52,574 $9.1M Reduce -0.1%
CVX Chevron Corp. 0.67% 57,584 $9.0M Reduce -13.6%
COR Cencora Inc. 0.66% 39,143 $8.8M Reduce -2.6%
DLR Digital Realty Trust Inc. 0.65% 57,624 $8.8M Add +12.0%
HEI Heico Corp. 0.65% 38,849 $8.7M Reduce -2.4%
WFC Wells Fargo & Co. 0.65% 145,713 $8.7M Reduce -4.5%
TTWO Take-Two Interactive Softwre 0.65% 55,592 $8.6M Reduce -1.1%
TLT iShares 20+ Year Treasury BD 0.63% 91,374 $8.4M Add +1.2%
ABBV Abbvie Inc. 0.62% 47,985 $8.2M Add +2.5%
HPE Hewlett Packard Enterprise 0.62% 388,764 $8.2M New
CLX Clorox Company 0.60% 59,004 $8.1M Reduce -17.9%
MET Metlife Inc. 0.60% 114,294 $8.0M Add +0.2%
T AT&T Inc. 0.60% 418,526 $8.0M Reduce -2.7%
UL Unilever PLC 0.59% 144,359 $7.9M Reduce -0.8%
TSLA Tesla Inc. 0.59% 39,583 $7.8M Add +52.3%
BSX Boston Scientific Corp. 0.58% 101,505 $7.8M Reduce -1.8%
BBY Best Buy Co. Inc. 0.58% 92,708 $7.8M Add +0.9%
ICLR Icon PLC 0.58% 24,869 $7.8M Reduce -1.6%
STX Seagate Technology Holdings 0.58% 74,719 $7.7M Reduce -2.1%
SPGI S&P Global Inc. 0.54% 16,198 $7.2M Add +58.7%
MU Micron Technology Inc. 0.52% 52,913 $7.0M Reduce -3.5%
ZTS Zoetis Inc. 0.51% 39,312 $6.8M Reduce -2.4%
GE General Electric filed as GE AEROSPACE 0.51% 42,814 $6.8M Add +1.2%
MMM 3M Co. 0.49% 63,861 $6.5M Add +18.7%
QSR Restaurant Brands Intern 0.48% 91,371 $6.4M Add +1.9%
MRK Merck & Co. Inc. 0.48% 51,690 $6.4M Reduce -23.3%
VZ Verizon Communications Inc. 0.48% 154,876 $6.4M Reduce -0.2%
WDC Western Digital Corp. 0.47% 83,670 $6.3M Reduce -11.8%
NFLX Netflix Inc. 0.46% 9,171 $6.2M Reduce -1.7%
XCEM Columbia Em Core Ex-China 0.46% 192,053 $6.1M Reduce -0.7%
INTC Intel Corp. 0.43% 187,152 $5.8M Add +7.8%
WMT Walmart Inc. 0.41% 80,447 $5.4M Reduce -2.0%
XLI SS Industrial Select Sector 0.40% 44,255 $5.4M Reduce -4.7%
TGT Target Corp. 0.39% 35,344 $5.2M Add +112.8%
XLB SS Materials Select Sector 0.38% 58,213 $5.1M Reduce -2.7%
WSO Watsco Inc. 0.38% 10,922 $5.1M Reduce -0.7%
HAS Hasbro Inc. 0.37% 85,572 $5.0M Reduce -0.3%
ATR Aptargroup Inc. 0.37% 35,060 $4.9M Reduce -2.1%
XLP SS Consumer Staples Sel Sect 0.35% 61,627 $4.7M Reduce -0.1%
TMO Thermo Fisher Scientific Inc. 0.35% 8,492 $4.7M Reduce -0.3%
ICE Intercontinental Exchange Inc. 0.35% 34,077 $4.7M Reduce -1.9%
DOW Dow Inc. 0.34% 84,991 $4.5M Add +1.2%
Z Zillow Group Inc. Class C 0.32% 92,154 $4.3M New
JNJ Johnson & Johnson 0.32% 28,831 $4.2M Add +666.6%
MRSH Marsh & McLennan Cos 0.30% 19,310 $4.1M Reduce -1.6%
PG The Procter & Gamble Co. 0.29% 23,878 $3.9M Add +1055.2%
UNH Unitedhealth Group Inc. 0.28% 7,257 $3.7M Reduce -1.3%
ORCL Oracle Corp. 0.27% 25,524 $3.6M Reduce -1.3%
KVUE Kenvue Inc. 0.26% 190,854 $3.5M Add +0.4%
UNP Union Pacific Corp. 0.25% 14,522 $3.3M Reduce -47.6%
XBI SS SPDR S&P Biotech ETF 0.24% 34,660 $3.2M Reduce -0.4%
ACGL Arch Capital Group Ltd. 0.23% 30,275 $3.1M Reduce -0.4%
AIZ Assurant Inc. 0.23% 18,290 $3.0M Add +27.9%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.22% 11,192 $2.9M Reduce -2.1%
CP Canadian Pacific Kansas City 0.21% 36,470 $2.9M Reduce -20.0%
SHOP Shopify Inc. Class A 0.21% 43,054 $2.8M Reduce -6.1%
ULTA Ulta Beauty Inc. 0.21% 7,325 $2.8M Reduce -13.2%
ACN Accenture PLC Class A 0.20% 8,826 $2.7M Reduce -20.5%
XLV SS Health Care Select Sector 0.20% 18,322 $2.7M Add +2.5%
LNG Cheniere Energy Inc. 0.20% 15,265 $2.7M Reduce -5.5%
IVV iShares Core S&P 500 ETF 0.20% 4,818 $2.6M Reduce -4.8%
HUBS HubSpot Inc. 0.20% 4,466 $2.6M New
PANW Palo Alto Networks Inc. 0.19% 7,468 $2.5M New
CYBR Cyberark Software Ltd./Israel 0.17% 8,282 $2.3M Add +1.4%
IVW iShares S&P 500 Growth ETF 0.16% 22,464 $2.1M No change
LIN Linde PLC 0.15% 4,582 $2.0M Reduce -1.0%
HD Home Depot Inc. 0.15% 5,731 $2.0M Reduce -0.1%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.14% 26,806 $1.8M Add +12.4%
IYR iShares US Real Estate ETF 0.13% 20,519 $1.8M New
UPS United Parcel Service Class B 0.13% 12,892 $1.8M New
VRT Vertiv Holdings Co. Class A 0.13% 19,705 $1.7M New
ISRG Intuitive Surgical Inc. 0.12% 3,725 $1.7M Reduce -1.0%
ORLY O'reilly Automotive Inc. 0.12% 1,470 $1.6M New
ECL Ecolab Inc. 0.11% 6,051 $1.4M No change
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.11% 5,705 $1.4M No change
OKTA Okta Inc. 0.10% 14,178 $1.3M Reduce -0.2%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.10% 5,375 $1.3M No change
LULU Lululemon Athletica Inc. 0.09% 4,211 $1.3M Reduce -9.1%
KO The Coca-Cola Co. 0.09% 19,012 $1.2M No change
WCC Wesco International Inc. 0.08% 7,068 $1.1M Reduce -0.5%
SPY SS SPDR S&P 500 ETF Trust-US 0.08% 1,925 $1.0M Reduce -0.9%
TXN Texas Instruments Inc. 0.08% 5,198 $1.0M Reduce -4.7%
DE Deere & Co. 0.07% 2,511 $938K Reduce -0.5%
VCIT Vanguard Int-Term Corporate 0.07% 11,266 $900K Reduce -24.4%
EQIX Equinix Inc. 0.07% 1,163 $880K Reduce -75.8%
AXP American Express Co. 0.06% 3,550 $822K No change
OMC Omnicom Group 0.06% 8,501 $763K Reduce -87.9%
IWM iShares Russell 2000 ETF 0.06% 3,732 $757K Reduce -0.8%
IJH iShares Core S&P Midcap ETF 0.05% 12,350 $723K No change
COST Costco Wholesale Corp. 0.05% 819 $696K Reduce -3.0%
BRK.A Berkshire Hathaway Inc. Class A 0.05% 1 $612K No change
DHR Danaher Corp. 0.04% 2,398 $599K Reduce -0.9%
IJK iShares S&P Mid-Cap 400 Grow 0.04% 6,784 $598K No change
NKE Nike Inc. Class B 0.04% 7,583 $572K Reduce -14.4%
QCOM Qualcomm Inc. 0.04% 2,865 $571K No change
BUD Anheuser-Busch Inbev-SPN ADR 0.04% 9,574 $557K No change
BX Blackstone Inc. 0.04% 4,473 $554K No change
IEF iShares 7-10 Year Treasury B 0.04% 5,898 $552K Reduce -8.5%
EFG iShares MSCI Eafe Growth ETF 0.04% 5,300 $542K Reduce -1.1%
XLK SS Technology Select Sector 0.04% 2,306 $522K Reduce -94.2%
AMD Advanced Micro Devices 0.04% 3,116 $505K Reduce -6.4%
CENTA Central Garden and Pet Co. Class A 0.04% 14,425 $476K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.04% 11,935 $475K Reduce -0.0%
FCX Freeport-McMoran Inc. 0.04% 9,711 $472K Reduce -0.2%
CB Chubb Ltd. 0.03% 1,833 $468K Reduce -3.5%
NSC Norfolk Southern Corp. 0.03% 1,910 $410K No change
USB US Bancorp 0.03% 10,299 $409K No change
IJR iShares Core S&P Small-Cap E 0.03% 3,773 $402K No change
DVY iShares Select Dividend ETF 0.03% 3,304 $400K No change
MDT Medtronic PLC 0.03% 4,607 $363K No change
ADBE Adobe Inc. 0.03% 651 $362K No change
BG Bunge Global SA 0.03% 3,347 $357K No change
MS Morgan Stanley 0.02% 3,402 $331K Reduce -0.5%
PRU Prudential Financial Inc. 0.02% 2,572 $301K Add +15.3%
ABT Abbott Laboratories 0.02% 2,780 $289K Reduce -1.6%
EMR Emerson Electric Co. 0.02% 2,558 $282K No change
ELV Elevance Health Inc. 0.02% 520 $282K Reduce -1.9%
SNAP Snap Inc. Class A 0.02% 16,630 $276K No change
NOW ServiceNow Inc. 0.02% 345 $271K New
CSCO Cisco Systems Inc. 0.02% 5,647 $268K Add +6.0%
SYK Stryker Corp. 0.02% 738 $251K No change
CAT Caterpillar Inc. 0.02% 746 $248K No change
MA Mastercard Inc. Class A 0.02% 527 $232K Reduce -7.2%
SCCO Southern Copper Corp. 0.02% 2,020 $218K Add +1.0%
GOOG Alphabet Inc. Class C 0.02% 1,186 $218K New
LOW Lowe's Cos Inc. 0.02% 977 $215K No change
WRAP Wrap Technologies Inc. 0.01% 97,760 $196K No change
BWEN Broadwind Inc. 0.00% 13,239 $43K No change
OXSQ Oxford Square Capital Corp. 0.00% 10,000 $29K No change
GLUCOTRACK INC 0.00% 13,855 $28K New

Portfolio Sells Q1 2024 → Q2 2024
ALRS Alerus Financial Corp. Reduce -5.5% 3.13% −0.59
XLK SS Technology Select Sector Reduce -94.2% 0.04% −0.59
HPQ HP Inc. Sold out 0.00% −0.50
OMC Omnicom Group Reduce -87.9% 0.06% −0.46
XLY SS Consumer Disc Select Sect Sold out 0.00% −0.41
MNST Monster Beverage Corp. Sold out 0.00% −0.39
MCD McDonald's Corp. Sold out 0.00% −0.30
PINS Pinterest Inc. Class A Sold out 0.00% −0.30
UNP Union Pacific Corp. Reduce -47.6% 0.25% −0.27
EQIX Equinix Inc. Reduce -75.8% 0.07% −0.23
CLX Clorox Company Reduce -17.9% 0.60% −0.23
MRK Merck & Co. Inc. Reduce -23.3% 0.48% −0.19
DFAX Dimensional World Ex US Core Reduce -0.8% 7.38% −0.14
ULTA Ulta Beauty Inc. Reduce -13.2% 0.21% −0.12
CVX Chevron Corp. Reduce -13.6% 0.67% −0.12
XLF SS Financial Select Sector Sold out 0.00% −0.11
PH Parker Hannifin Corp. Reduce -3.3% 0.69% −0.10
CDNS Cadence Design SYS Inc. Reduce -8.9% 0.82% −0.10
ACN Accenture PLC Class A Reduce -20.5% 0.20% −0.09
CP Canadian Pacific Kansas City Reduce -20.0% 0.21% −0.09
CZR Caesars Entertainment Inc. Sold out 0.00% −0.09
V Visa Inc. Class A Reduce -1.4% 0.94% −0.08
ETN Eaton Corp. PLC Reduce -5.0% 1.33% −0.08
IBM Intl Business Machines Corp. Reduce -0.1% 0.68% −0.08
COR Cencora Inc. Reduce -2.6% 0.66% −0.08
BRK.B Berkshire Hathaway Inc. Class B Reduce -1.7% 1.02% −0.06
ICLR Icon PLC Reduce -1.6% 0.58% −0.06
JPM JPMorgan Chase & Co. Reduce -3.0% 1.79% −0.06
FITB Fifth Third Bancorp Reduce -4.6% 0.68% −0.05
SHOP Shopify Inc. Class A Reduce -6.1% 0.21% −0.05
XLE SS Energy Select Sector Reduce -1.8% 0.80% −0.05
LULU Lululemon Athletica Inc. Reduce -9.1% 0.09% −0.04
XLI SS Industrial Select Sector Reduce -4.7% 0.40% −0.04
XLB SS Materials Select Sector Reduce -2.7% 0.38% −0.04
OTTR Otter Tail Corp. Sold out 0.00% −0.02
VCIT Vanguard Int-Term Corporate Reduce -24.4% 0.07% −0.02
TMO Thermo Fisher Scientific Inc. Reduce -0.3% 0.35% −0.02
META Meta Platforms Inc. Class A Reduce -4.4% 1.26% −0.02
WFC Wells Fargo & Co. Reduce -4.5% 0.65% −0.02
ATR Aptargroup Inc. Reduce -2.1% 0.37% −0.02
NKE Nike Inc. Class B Reduce -14.4% 0.04% −0.02
HD Home Depot Inc. Reduce -0.1% 0.15% −0.02
IQV Iqvia Holdings Inc. Sold out 0.00% −0.02
FTV Fortive Corp. Sold out 0.00% −0.02
NUE Nucor Corp. Sold out 0.00% −0.02
ODFL Old Dominion Freight Line Sold out 0.00% −0.02
SYY Sysco Corp. Sold out 0.00% −0.02
SNOW Snowflake Inc. Sold out 0.00% −0.02
WDC Western Digital Corp. Reduce -11.8% 0.47% −0.01
VZ Verizon Communications Inc. Reduce -0.2% 0.48% −0.01

Portfolio Buys Q1 2024 → Q2 2024
AAPL Apple Inc. Add +3.2% 3.93% +0.80
HPE Hewlett Packard Enterprise New 0.62% +0.62
GOOGL Alphabet Inc. Class A Add +4.1% 2.33% +0.46
AVGO Broadcom Inc. Add +2.8% 2.28% +0.43
Z Zillow Group Inc. Class C New 0.32% +0.32
JNJ Johnson & Johnson Add +666.6% 0.32% +0.27
PG The Procter & Gamble Co. Add +1055.2% 0.29% +0.27
TSLA Tesla Inc. Add +52.3% 0.59% +0.24
AMZN Amazon.com Inc. Add +6.6% 2.09% +0.24
SPGI S&P Global Inc. Add +58.7% 0.54% +0.21
HUBS HubSpot Inc. New 0.20% +0.20
PANW Palo Alto Networks Inc. New 0.19% +0.19
TGT Target Corp. Add +112.8% 0.39% +0.17
IYR iShares US Real Estate ETF New 0.13% +0.13
UPS United Parcel Service Class B New 0.13% +0.13
VRT Vertiv Holdings Co. Class A New 0.13% +0.13
ORLY O'reilly Automotive Inc. New 0.12% +0.12
DLR Digital Realty Trust Inc. Add +12.0% 0.65% +0.10
XOM Exxon Mobil Corp. Add +9.9% 1.16% +0.08
SO The Southern Co. Add +1.2% 0.76% +0.06
MMM 3M Co. Add +18.7% 0.49% +0.06
AGG iShares Core U.S. Aggregate Add +2.9% 5.86% +0.05
AIZ Assurant Inc. Add +27.9% 0.23% +0.02
NOW ServiceNow Inc. New 0.02% +0.02
IXUS iShares Core Intl Stock ETF Add +1.9% 5.48% +0.02
XLU St Sr Utl SL SE SPDR ETF-Usd Add +12.4% 0.14% +0.02
GOOG Alphabet Inc. Class C New 0.02% +0.02
BBY Best Buy Co. Inc. Add +0.9% 0.58% +0.02
CYBR Cyberark Software Ltd./Israel Add +1.4% 0.17% +0.01
PRU Prudential Financial Inc. Add +15.3% 0.02% +0.00
GLUCOTRACK INC New 0.00% +0.00
XLV SS Health Care Select Sector Add +2.5% 0.20% +0.00
SCCO Southern Copper Corp. Add +1.0% 0.02% +0.00
CSCO Cisco Systems Inc. Add +6.0% 0.02% 0.00
TLT iShares 20+ Year Treasury BD Add +1.2% 0.63% −0.02
ABBV Abbvie Inc. Add +2.5% 0.62% −0.03
DOW Dow Inc. Add +1.2% 0.34% −0.03
MET Metlife Inc. Add +0.2% 0.60% −0.04
VCLT Vanguard Long-Term Corp. Bond Add +2.3% 2.25% −0.04
KVUE Kenvue Inc. Add +0.4% 0.26% −0.05
GE General Electric Add +1.2% 0.51% −0.05
QSR Restaurant Brands Intern Add +1.9% 0.48% −0.06
IWR iShares Russell Mid-Cap ETF Add +0.7% 2.54% −0.10
INTC Intel Corp. Add +7.8% 0.43% −0.15

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