Alerus Financial NA

Name: ALERUS FINANCIAL NA 13F holdings, Q4 2024
Creator: ALERUS FINANCIAL NA
Published: 2025-02-12

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q3 2024Q2 2024Q1 2024

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 12, 2025), Alerus Financial NA reported 157 stock positions worth $1.3 billion. Its top holding was Vanguard S&P 500 ETF (VOO) at 10.9% of the portfolio, followed by Dimensional World Ex US Core (DFAX, 6.8%) and iShares Core U.S. Aggregate (AGG, 5.9%). Compared with Q3 2024, it opened 15 new positions, sold out of 15, added to 42 and reduced 88. The biggest buy was a new position in Rockwell Automation (ROK) and the biggest sale an exit from Icon (ICLR).

Most Recent 13F: Q2 2026
Location: GRAND FORKS, ND
CIK: 0000919458
Portfolio Value: $1.3B (Q4 2024)
SEC Filing: 0000919458-25-000001 ↗ filed Feb 12, 2025

Holdings Value

Holdings 157 stocks · $1.3B


VOO Vanguard S&P 500 ETF	10.86%	263,252	$141.8M	Reduce -4.9%
DFAX Dimensional World Ex US Core	6.75%	3,548,083	$88.2M	Reduce -1.1%
AGG iShares Core U.S. Aggregate	5.86%	789,633	$76.5M	Add +1.7%
IXUS iShares Core Intl Stock ETF	5.63%	1,111,883	$73.5M	Add +4.0%
AAPL Apple Inc.	4.09%	213,069	$53.4M	Reduce -11.5%
MSFT Microsoft Corp.	3.65%	113,032	$47.6M	Reduce -4.4%
NVDA Nvidia Corp.	3.62%	352,392	$47.3M	Reduce -8.2%
ALRS Alerus Financial Corp.	3.14%	2,130,638	$41.0M	Add +0.3%
AVGO Broadcom Inc.	3.01%	169,676	$39.3M	Reduce -4.0%
IWR iShares Russell Mid-Cap ETF	2.68%	395,500	$35.0M	Reduce -1.1%
VCLT Vanguard Long-Term Corp. Bond	2.32%	405,868	$30.4M	Add +1.9%
AMZN Amazon.com Inc.	2.05%	122,201	$26.8M	Reduce -5.7%
GOOGL Alphabet Inc. Class A	1.79%	123,639	$23.4M	Reduce -6.6%
JPM JPMorgan Chase & Co.	1.38%	75,151	$18.0M	Reduce -34.4%
ETN Eaton Corp. PLC	1.38%	54,266	$18.0M	Add +0.4%
TSLA Tesla Inc.	1.30%	41,965	$16.9M	Reduce -8.6%
META Meta Platforms Inc. Class A	1.15%	25,651	$15.0M	Reduce -9.7%
LLY Eli Lilly & Co.	1.15%	19,400	$15.0M	Reduce -5.4%
XOM Exxon Mobil Corp.	1.07%	130,394	$14.0M	Reduce -0.4%
BRK.B Berkshire Hathaway Inc. Class B	0.86%	24,727	$11.2M	Reduce -23.0%
CDNS Cadence Design SYS Inc.	0.78%	33,709	$10.1M	Reduce -4.2%
AAAU Goldman Sachs Physical Gold	0.77%	385,684	$10.0M	Reduce -27.0%
FITB Fifth Third Bancorp	0.75%	232,293	$9.8M	Reduce -4.5%
SO The Southern Co.	0.75%	119,153	$9.8M	Add +0.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.74%	44,127	$9.7M	Reduce -0.4%
TTWO Take-Two Interactive Softwre	0.73%	51,882	$9.6M	Reduce -5.0%
MET Metlife Inc.	0.71%	112,842	$9.2M	Reduce -0.3%
T AT&T Inc.	0.70%	402,641	$9.2M	Reduce -2.8%
DLR Digital Realty Trust Inc.	0.70%	51,362	$9.1M	Reduce -7.9%
CLX Clorox Company	0.70%	56,056	$9.1M	Reduce -2.5%
XLE SS Energy Select Sector	0.67%	101,873	$8.7M	Add +10.9%
PH Parker Hannifin Corp.	0.67%	13,677	$8.7M	Reduce -9.3%
ABBV Abbvie Inc.	0.65%	48,087	$8.5M	Add +1.3%
TLT iShares 20+ Year Treasury BD	0.65%	97,459	$8.5M	Add +5.5%
CVX Chevron Corp.	0.65%	58,289	$8.4M	Add +1.1%
HPE Hewlett Packard Enterprise	0.64%	391,597	$8.4M	Reduce -0.1%
BSX Boston Scientific Corp.	0.62%	90,400	$8.1M	Reduce -7.4%
BBY Best Buy Co. Inc.	0.61%	92,276	$7.9M	Add +0.7%
JNJ Johnson & Johnson	0.60%	54,185	$7.8M	Add +2.0%
NFLX Netflix Inc.	0.60%	8,722	$7.8M	Reduce -4.8%
UL Unilever PLC	0.59%	136,875	$7.8M	Reduce -0.1%
UNH Unitedhealth Group Inc.	0.58%	15,093	$7.6M	Add +115.3%
COR Cencora Inc.	0.58%	33,896	$7.6M	Reduce -11.6%
XLF SS Financial Select Sector	0.56%	151,397	$7.3M	Add +29.8%
PG The Procter & Gamble Co.	0.55%	42,834	$7.2M	Add +81.4%
WFC Wells Fargo & Co.	0.53%	98,465	$6.9M	Reduce -29.0%
CSCO Cisco Systems Inc.	0.53%	116,386	$6.9M	Add +3.7%
SPGI S&P Global Inc.	0.52%	13,566	$6.8M	Reduce -13.0%
GE General Electric filed as GE AEROSPACE	0.51%	39,575	$6.6M	Reduce -6.2%
WMT Walmart Inc.	0.49%	70,750	$6.4M	Reduce -6.3%
QSR Restaurant Brands Intern	0.48%	96,301	$6.3M	Add +4.2%
VZ Verizon Communications Inc.	0.48%	155,688	$6.2M	Add +1.1%
KVUE Kenvue Inc.	0.47%	288,088	$6.2M	Add +50.6%
HEI Heico Corp.	0.47%	25,549	$6.1M	Reduce -30.7%
MMM 3M Co.	0.46%	46,380	$6.0M	Add +0.6%
MA Mastercard Inc. Class A	0.44%	10,959	$5.8M	Add +29.2%
ROK Rockwell Automation Inc.	0.42%	19,139	$5.5M	New
NOW ServiceNow Inc.	0.40%	4,869	$5.2M	Add +37.7%
WSO Watsco Inc.	0.39%	10,677	$5.1M	Reduce -1.5%
ISRG Intuitive Surgical Inc.	0.39%	9,678	$5.1M	Add +177.2%
VRT Vertiv Holdings Co. Class A	0.38%	43,564	$4.9M	Reduce -13.5%
STX Seagate Technology Holdings	0.38%	57,174	$4.9M	Add +2.4%
HAS Hasbro Inc.	0.37%	86,276	$4.8M	Add +2.1%
XLB SS Materials Select Sector	0.36%	56,642	$4.8M	Reduce -2.4%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.36%	108,305	$4.8M	Add +823.0%
XLY SS Consumer Disc Select Sect	0.36%	20,996	$4.7M	Add +60.1%
TGT Target Corp.	0.36%	34,728	$4.7M	Add +2.5%
VST Vistra Corp.	0.34%	32,613	$4.5M	New
WDC Western Digital Corp.	0.34%	74,582	$4.4M	Reduce -5.7%
V Visa Inc. Class A	0.33%	13,555	$4.3M	Reduce -14.2%
PGR Progressive Corp.	0.32%	17,238	$4.1M	New
ZTS Zoetis Inc.	0.31%	25,037	$4.1M	Reduce -30.1%
MU Micron Technology Inc.	0.31%	47,353	$4.0M	Reduce -6.7%
CEG Constellation Energy	0.30%	17,773	$4.0M	Reduce -32.9%
ORCL Oracle Corp.	0.29%	22,689	$3.8M	Reduce -5.8%
ICE Intercontinental Exchange Inc.	0.29%	25,296	$3.8M	Reduce -22.3%
ATR Aptargroup Inc.	0.28%	23,220	$3.6M	Reduce -6.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.27%	32,139	$3.6M	Add +3.0%
MRSH Marsh & McLennan Cos	0.27%	16,669	$3.5M	Reduce -9.2%
CMG Chipotle Mexican Grill Inc.	0.27%	58,508	$3.5M	Add +9.0%
ACGL Arch Capital Group Ltd.	0.26%	36,700	$3.4M	Add +20.6%
UNP Union Pacific Corp.	0.25%	14,295	$3.3M	Reduce -0.2%
SHOP Shopify Inc. Class A	0.25%	30,137	$3.2M	Reduce -7.1%
DD Dupont DE Nemours Inc.	0.22%	37,781	$2.9M	New
IVV iShares Core S&P 500 ETF	0.22%	4,813	$2.8M	Reduce -0.1%
LNG Cheniere Energy Inc.	0.21%	13,031	$2.8M	Reduce -8.0%
MDT Medtronic PLC	0.21%	33,960	$2.7M	Add +637.3%
URI United Rentals Inc.	0.21%	3,812	$2.7M	New
CYBR Cyberark Software Ltd./Israel	0.20%	7,955	$2.7M	Reduce -5.4%
PANW Palo Alto Networks Inc.	0.19%	13,693	$2.5M	Reduce -4.8%
LIN Linde PLC	0.19%	5,857	$2.5M	Add +355.4%
XLP SS Consumer Staples Sel Sect	0.18%	30,170	$2.4M	Reduce -50.1%
IVW iShares S&P 500 Growth ETF	0.17%	22,464	$2.3M	No change
MKC McCormick & Co.-Non VTG SHRS	0.17%	28,985	$2.2M	New
HD Home Depot Inc.	0.17%	5,547	$2.2M	Reduce -1.9%
MCHP Microchip Technology Inc.	0.15%	34,330	$2.0M	New
ORLY O'reilly Automotive Inc.	0.14%	1,526	$1.8M	Add +8.2%
UPS United Parcel Service Class B	0.13%	13,508	$1.7M	Add +2.4%
VV Vngrd Mrgstr LRG-Cap ETF-Usd	0.12%	5,705	$1.5M	No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP	0.12%	19,566	$1.5M	New
IYR iShares US Real Estate ETF	0.11%	15,706	$1.5M	Reduce -36.7%
TMO Thermo Fisher Scientific Inc.	0.10%	2,389	$1.2M	Reduce -75.0%
ECL Ecolab Inc.	0.09%	5,275	$1.2M	Reduce -1.4%
KO The Coca-Cola Co.	0.09%	18,767	$1.2M	Reduce -0.2%
LULU Lululemon Athletica Inc.	0.09%	2,993	$1.1M	Reduce -8.3%
SPY SS SPDR S&P 500 ETF Trust-US	0.09%	1,951	$1.1M	Add +1.7%
AXP American Express Co.	0.08%	3,473	$1.0M	Reduce -0.9%
MRK Merck & Co. Inc.	0.08%	10,326	$1.0M	Reduce -80.1%
DHR Danaher Corp.	0.08%	4,394	$1.0M	Add +100.2%
ACN Accenture PLC Class A	0.07%	2,697	$949K	Reduce -3.8%
TXN Texas Instruments Inc.	0.07%	4,965	$931K	Reduce -4.5%
DE Deere & Co.	0.07%	2,180	$924K	Reduce -1.9%
MTB M & T Bank Corp. filed as M & T BK CORP	0.07%	4,783	$899K	New
ALL Allstate Corp.	0.07%	4,582	$883K	New
EQIX Equinix Inc.	0.06%	884	$834K	Reduce -16.2%
IWM iShares Russell 2000 ETF	0.06%	3,645	$805K	Reduce -0.6%
WCC Wesco International Inc.	0.06%	4,292	$777K	Reduce -7.3%
IJH iShares Core S&P Midcap ETF	0.06%	12,350	$770K	No change
VCIT Vanguard Int-Term Corporate	0.06%	9,271	$744K	Reduce -9.0%
COST Costco Wholesale Corp.	0.06%	800	$733K	Add +0.1%
OKTA Okta Inc.	0.05%	9,100	$717K	Reduce -4.8%
VO Vngrd Mrngstr MD-Cap ETF-Usd	0.05%	2,636	$696K	Add +0.3%
OMC Omnicom Group	0.05%	7,593	$653K	Reduce -6.3%
IJK iShares S&P Mid-Cap 400 Grow	0.05%	6,790	$617K	Add +0.1%
IEF iShares 7-10 Year Treasury B	0.04%	5,558	$514K	Reduce -0.6%
EFG iShares MSCI Eafe Growth ETF	0.04%	5,300	$513K	No change
FCX Freeport-McMoran Inc.	0.04%	12,905	$491K	Reduce -68.0%
USB US Bancorp	0.04%	10,171	$486K	Reduce -0.3%
CENTA Central Garden and Pet Co. Class A	0.04%	14,425	$477K	No change
XLU St Sr Utl SL SE SPDR ETF-Usd	0.03%	5,949	$450K	Reduce -85.3%
NSC Norfolk Southern Corp.	0.03%	1,904	$447K	Reduce -0.3%
QCOM Qualcomm Inc.	0.03%	2,852	$438K	No change
IJR iShares Core S&P Small-Cap E	0.03%	3,797	$437K	Add +0.6%
DVY iShares Select Dividend ETF	0.03%	3,304	$434K	No change
MS Morgan Stanley	0.03%	3,384	$425K	Reduce -0.5%
CB Chubb Ltd.	0.03%	1,525	$421K	Reduce -10.4%
C Citigroup Inc.	0.03%	5,183	$365K	New
AMD Advanced Micro Devices	0.03%	2,992	$361K	Reduce -0.6%
BX Blackstone Inc.	0.02%	1,859	$321K	Reduce -0.7%
EMR Emerson Electric Co.	0.02%	2,522	$313K	Reduce -1.4%
BSCQ Invesco Bulletshares 2026 CB	0.02%	16,060	$312K	New
CP Canadian Pacific Kansas City	0.02%	4,005	$290K	Reduce -88.4%
ADBE Adobe Inc.	0.02%	635	$282K	Reduce -2.5%
ABT Abbott Laboratories	0.02%	2,312	$262K	Reduce -8.3%
PRU Prudential Financial Inc.	0.02%	2,205	$261K	Add +3.1%
CAT Caterpillar Inc.	0.02%	704	$255K	Reduce -0.8%
BG Bunge Global SA	0.02%	3,189	$248K	Reduce -4.7%
XLK SS Technology Select Sector	0.02%	1,064	$247K	Reduce -46.4%
SYK Stryker Corp.	0.02%	665	$239K	Reduce -0.6%
LOW Lowe's Cos Inc.	0.02%	965	$238K	No change
GOOG Alphabet Inc. Class C	0.02%	1,168	$222K	New
WRAP Wrap Technologies Inc.	0.02%	97,760	$207K	No change
EXPE Expedia Group Inc.	0.02%	1,090	$203K	New
ALE Allete Inc.	0.02%	3,111	$202K	New
BWEN Broadwind Inc.	0.00%	13,239	$25K	No change
OXSQ Oxford Square Capital Corp.	0.00%	10,000	$24K	No change
GLUCOTRACK INC	0.00%	13,855	$5K	No change

Portfolio Sells Q3 2024 → Q4 2024


ICLR Icon PLC	Sold out	0.00%	−0.51
JPM JPMorgan Chase & Co.	Reduce -34.4%	1.38%	−0.39
DFAX Dimensional World Ex US Core	Reduce -1.1%	6.75%	−0.36
MRK Merck & Co. Inc.	Reduce -80.1%	0.08%	−0.35
XLI SS Industrial Select Sector	Sold out	0.00%	−0.35
TMO Thermo Fisher Scientific Inc.	Reduce -75.0%	0.10%	−0.34
DOW Dow Inc.	Sold out	0.00%	−0.33
AIZ Assurant Inc.	Sold out	0.00%	−0.26
XBI SS SPDR S&P Biotech ETF	Sold out	0.00%	−0.25
AAAU Goldman Sachs Physical Gold	Reduce -27.0%	0.77%	−0.24
HEI Heico Corp.	Reduce -30.7%	0.47%	−0.24
BRK.B Berkshire Hathaway Inc. Class B	Reduce -23.0%	0.86%	−0.23
AJG Arthur J Gallagher & Co.	Sold out	0.00%	−0.22
XLU St Sr Utl SL SE SPDR ETF-Usd	Reduce -85.3%	0.03%	−0.21
ZTS Zoetis Inc.	Reduce -30.1%	0.31%	−0.20
CEG Constellation Energy	Reduce -32.9%	0.30%	−0.20
CP Canadian Pacific Kansas City	Reduce -88.4%	0.02%	−0.19
XLP SS Consumer Staples Sel Sect	Reduce -50.1%	0.18%	−0.19
LLY Eli Lilly & Co.	Reduce -5.4%	1.15%	−0.19
M Macy's Inc.	Sold out	0.00%	−0.16
Z Zillow Group Inc. Class C	Sold out	0.00%	−0.12
FCX Freeport-McMoran Inc.	Reduce -68.0%	0.04%	−0.11
ICE Intercontinental Exchange Inc.	Reduce -22.3%	0.29%	−0.10
MSFT Microsoft Corp.	Reduce -4.4%	3.65%	−0.08
MU Micron Technology Inc.	Reduce -6.7%	0.31%	−0.08
GE General Electric	Reduce -6.2%	0.51%	−0.08
SPGI S&P Global Inc.	Reduce -13.0%	0.52%	−0.07
IYR iShares US Real Estate ETF	Reduce -36.7%	0.11%	−0.07
UL Unilever PLC	Reduce -0.1%	0.59%	−0.06
WDC Western Digital Corp.	Reduce -5.7%	0.34%	−0.06
XOM Exxon Mobil Corp.	Reduce -0.4%	1.07%	−0.05
COR Cencora Inc.	Reduce -11.6%	0.58%	−0.05
XLB SS Materials Select Sector	Reduce -2.4%	0.36%	−0.05
WFC Wells Fargo & Co.	Reduce -29.0%	0.53%	−0.05
META Meta Platforms Inc. Class A	Reduce -9.7%	1.15%	−0.04
PH Parker Hannifin Corp.	Reduce -9.3%	0.67%	−0.03
AAPL Apple Inc.	Reduce -11.5%	4.09%	−0.03
MRSH Marsh & McLennan Cos	Reduce -9.2%	0.27%	−0.03
XCEM Columbia Em Core Ex-China	Sold out	0.00%	−0.02
XLV SS Health Care Select Sector	Sold out	0.00%	−0.02
SCCO Southern Copper Corp.	Sold out	0.00%	−0.02
INTC Intel Corp.	Sold out	0.00%	−0.02
IBB iShares Biotechnology ETF	Sold out	0.00%	−0.01
LMT Lockheed Martin Corp.	Sold out	0.00%	−0.01
XLK SS Technology Select Sector	Reduce -46.4%	0.02%	−0.01
SNAP Snap Inc. Class A	Sold out	0.00%	−0.01
FITB Fifth Third Bancorp	Reduce -4.5%	0.75%	−0.01
ATR Aptargroup Inc.	Reduce -6.3%	0.28%	−0.01
ORCL Oracle Corp.	Reduce -5.8%	0.29%	−0.01
OMC Omnicom Group	Reduce -6.3%	0.05%	−0.01

Portfolio Buys Q3 2024 → Q4 2024


ROK Rockwell Automation Inc.	New	0.42%	+0.42
VST Vistra Corp.	New	0.34%	+0.34
BAC Bank of America Corp.	Add +823.0%	0.36%	+0.33
PGR Progressive Corp.	New	0.32%	+0.32
UNH Unitedhealth Group Inc.	Add +115.3%	0.58%	+0.28
ISRG Intuitive Surgical Inc.	Add +177.2%	0.39%	+0.26
PG The Procter & Gamble Co.	Add +81.4%	0.55%	+0.25
DD Dupont DE Nemours Inc.	New	0.22%	+0.22
URI United Rentals Inc.	New	0.21%	+0.21
MDT Medtronic PLC	Add +637.3%	0.21%	+0.18
XLF SS Financial Select Sector	Add +29.8%	0.56%	+0.17
MKC McCormick & Co.-Non VTG SHRS	New	0.17%	+0.17
XLY SS Consumer Disc Select Sect	Add +60.1%	0.36%	+0.17
NOW ServiceNow Inc.	Add +37.7%	0.40%	+0.16
MCHP Microchip Technology Inc.	New	0.15%	+0.15
KVUE Kenvue Inc.	Add +50.6%	0.47%	+0.15
LIN Linde PLC	Add +355.4%	0.19%	+0.14
MA Mastercard Inc. Class A	Add +29.2%	0.44%	+0.13
BNY Bank of New York Mellon Corp.	New	0.12%	+0.12
CSCO Cisco Systems Inc.	Add +3.7%	0.53%	+0.09
AGG iShares Core U.S. Aggregate	Add +1.7%	5.86%	+0.09
XLE SS Energy Select Sector	Add +10.9%	0.67%	+0.08
MTB M & T Bank Corp.	New	0.07%	+0.07
ALL Allstate Corp.	New	0.07%	+0.07
ETN Eaton Corp. PLC	Add +0.4%	1.38%	+0.06
DIS The Walt Disney Co.	Add +3.0%	0.27%	+0.05
CMG Chipotle Mexican Grill Inc.	Add +9.0%	0.27%	+0.04
DHR Danaher Corp.	Add +100.2%	0.08%	+0.03
C Citigroup Inc.	New	0.03%	+0.03
BSCQ Invesco Bulletshares 2026 CB	New	0.02%	+0.02
CVX Chevron Corp.	Add +1.1%	0.65%	+0.02
ORLY O'reilly Automotive Inc.	Add +8.2%	0.14%	+0.02
GOOG Alphabet Inc. Class C	New	0.02%	+0.02
EXPE Expedia Group Inc.	New	0.02%	+0.02
ALE Allete Inc.	New	0.02%	+0.02
ACGL Arch Capital Group Ltd.	Add +20.6%	0.26%	+0.01
SPY SS SPDR S&P 500 ETF Trust-US	Add +1.7%	0.09%	+0.01
COST Costco Wholesale Corp.	Add +0.1%	0.06%	+0.00
VO Vngrd Mrngstr MD-Cap ETF-Usd	Add +0.3%	0.05%	+0.00
IJK iShares S&P Mid-Cap 400 Grow	Add +0.1%	0.05%	+0.00
IJR iShares Core S&P Small-Cap E	Add +0.6%	0.03%	+0.00
PRU Prudential Financial Inc.	Add +3.1%	0.02%	+0.00
UPS United Parcel Service Class B	Add +2.4%	0.13%	−0.00
MMM 3M Co.	Add +0.6%	0.46%	−0.00
QSR Restaurant Brands Intern	Add +4.2%	0.48%	−0.01
TLT iShares 20+ Year Treasury BD	Add +5.5%	0.65%	−0.01
TGT Target Corp.	Add +2.5%	0.36%	−0.03
VZ Verizon Communications Inc.	Add +1.1%	0.48%	−0.03
JNJ Johnson & Johnson	Add +2.0%	0.60%	−0.03
ABBV Abbvie Inc.	Add +1.3%	0.65%	−0.03

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	504	$2.3B	VOO, DFAX, IWR, IXUS, VCRB
Q1 2026	508	$2.0B	VOO, DFAX, IWR, VCRB, IXUS
Q4 2025	506	$2.0B	VOO, DFAX, IWR, IXUS, VCRB
Q3 2025	531	$2.0B	VOO, DFAX, IXUS, VCRB, NVDA
Q2 2025	508	$1.4B	VOO, DFAX, IXUS, AGG, NVDA
Q1 2025	160	$1.2B	VOO, DFAX, AGG, IXUS, AAPL
Q4 2024	157	$1.3B	VOO, DFAX, AGG, IXUS, AAPL
Q3 2024	157	$1.4B	VOO, DFAX, AGG, IXUS, AAPL
Q2 2024	156	$1.3B	VOO, DFAX, AGG, IXUS, MSFT
Q1 2024	161	$1.3B	VOO, DFAX, AGG, IXUS, MSFT