Alerus Financial NA
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), Alerus Financial NA reported 160 stock positions worth $1.2 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, 6.1%). Compared with Q4 2024, it opened 15 new positions, sold out of 13, added to 48 and reduced 74. The biggest buy was a new position in Truist Financial (TFC) and the biggest sale Broadcom (AVGO, shares −8%).
- Most Recent 13F
- Q2 2026
- Location
- GRAND FORKS, ND
- CIK
- 0000919458
- Portfolio Value
- $1.2B (Q1 2025)
- SEC Filing
- 0000919458-25-000002 ↗ filed May 13, 2025
Holdings Value
Holdings 160 stocks · $1.2B
| VOO Vanguard S&P 500 ETF | 10.71% | 260,216 | $133.7M | Reduce -1.1% |
| DFAX Dimensional World Ex US Core | 7.42% | 3,535,218 | $92.6M | Reduce -0.4% |
| AGG iShares Core U.S. Aggregate | 6.12% | 772,570 | $76.4M | Reduce -2.2% |
| IXUS iShares Core Intl Stock ETF | 5.97% | 1,068,381 | $74.6M | Reduce -3.9% |
| AAPL Apple Inc. | 3.70% | 208,012 | $46.2M | Reduce -2.4% |
| MSFT Microsoft Corp. | 3.24% | 107,842 | $40.5M | Reduce -4.6% |
| ALRS Alerus Financial Corp. | 3.17% | 2,145,669 | $39.6M | Add +0.7% |
| NVDA Nvidia Corp. | 3.00% | 346,228 | $37.5M | Reduce -1.8% |
| IWR iShares Russell Mid-Cap ETF | 2.67% | 392,589 | $33.4M | Reduce -0.7% |
| VCLT Vanguard Long-Term Corp. Bond | 2.46% | 405,604 | $30.8M | Reduce -0.1% |
| AVGO Broadcom Inc. | 2.09% | 155,842 | $26.1M | Reduce -8.2% |
| AMZN Amazon.com Inc. | 1.77% | 116,013 | $22.1M | Reduce -5.1% |
| GOOGL Alphabet Inc. Class A | 1.66% | 134,266 | $20.8M | Add +8.6% |
| JPM JPMorgan Chase & Co. | 1.65% | 84,019 | $20.6M | Add +11.8% |
| LLY Eli Lilly & Co. | 1.28% | 19,345 | $16.0M | Reduce -0.3% |
| META Meta Platforms Inc. Class A | 1.13% | 24,394 | $14.1M | Reduce -4.9% |
| ETN Eaton Corp. PLC | 1.11% | 51,027 | $13.9M | Reduce -6.0% |
| XOM Exxon Mobil Corp. | 1.09% | 114,720 | $13.6M | Reduce -12.0% |
| TSLA Tesla Inc. | 1.00% | 48,338 | $12.5M | Add +15.2% |
| SO The Southern Co. | 0.99% | 133,891 | $12.3M | Add +12.4% |
| T AT&T Inc. | 0.93% | 410,155 | $11.6M | Add +1.9% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.91% | 45,837 | $11.4M | Add +3.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.88% | 20,594 | $11.0M | Reduce -16.7% |
| AAAU Goldman Sachs Physical Gold | 0.87% | 351,739 | $10.9M | Reduce -8.8% |
| UL Unilever PLC | 0.87% | 182,308 | $10.9M | Add +33.2% |
| ABBV Abbvie Inc. | 0.83% | 49,449 | $10.4M | Add +2.8% |
| TTWO Take-Two Interactive Softwre | 0.82% | 49,395 | $10.2M | Reduce -4.8% |
| JNJ Johnson & Johnson | 0.75% | 56,124 | $9.3M | Add +3.6% |
| TLT iShares 20+ Year Treasury BD | 0.74% | 101,379 | $9.2M | Add +4.0% |
| COR Cencora Inc. | 0.71% | 32,105 | $8.9M | Reduce -5.3% |
| CSCO Cisco Systems Inc. | 0.70% | 142,626 | $8.8M | Add +22.6% |
| CDNS Cadence Design SYS Inc. | 0.69% | 33,927 | $8.6M | Add +0.7% |
| BSX Boston Scientific Corp. | 0.69% | 85,499 | $8.6M | Reduce -5.4% |
| NFLX Netflix Inc. | 0.63% | 8,479 | $7.9M | Reduce -2.8% |
| XLE SS Energy Select Sector | 0.62% | 83,339 | $7.8M | Reduce -18.2% |
| GE General Electric filed as GE AEROSPACE | 0.62% | 38,852 | $7.8M | Reduce -1.8% |
| UNH Unitedhealth Group Inc. | 0.62% | 14,809 | $7.8M | Reduce -1.9% |
| CVX Chevron Corp. | 0.61% | 45,218 | $7.6M | Reduce -22.4% |
| PH Parker Hannifin Corp. | 0.58% | 11,972 | $7.3M | Reduce -12.5% |
| VZ Verizon Communications Inc. | 0.58% | 160,322 | $7.3M | Add +3.0% |
| VST Vistra Corp. | 0.58% | 61,676 | $7.2M | Add +89.1% |
| KVUE Kenvue Inc. | 0.58% | 300,770 | $7.2M | Add +4.4% |
| WFC Wells Fargo & Co. | 0.57% | 99,522 | $7.1M | Add +1.1% |
| BBY Best Buy Co. Inc. | 0.57% | 96,208 | $7.1M | Add +4.3% |
| MMM 3M Co. | 0.56% | 47,320 | $6.9M | Add +2.0% |
| DLR Digital Realty Trust Inc. | 0.53% | 45,897 | $6.6M | Reduce -10.6% |
| TFC Truist Financial Corp. | 0.52% | 142,894 | $6.6M | New |
| CLX Clorox Company | 0.51% | 43,044 | $6.3M | Reduce -23.2% |
| HEI Heico Corp. | 0.51% | 23,693 | $6.3M | Reduce -7.3% |
| ISRG Intuitive Surgical Inc. | 0.50% | 12,696 | $6.3M | Add +31.2% |
| WMT Walmart Inc. | 0.50% | 70,598 | $6.2M | Reduce -0.2% |
| HPE Hewlett Packard Enterprise | 0.49% | 397,350 | $6.1M | Add +1.5% |
| MA Mastercard Inc. Class A | 0.48% | 10,969 | $6.0M | Add +0.1% |
| SPGI S&P Global Inc. | 0.47% | 11,445 | $5.8M | Reduce -15.6% |
| PRU Prudential Financial Inc. | 0.46% | 50,958 | $5.7M | Add +2211.0% |
| WSO Watsco Inc. | 0.45% | 11,021 | $5.6M | Add +3.2% |
| HAS Hasbro Inc. | 0.44% | 89,785 | $5.5M | Add +4.1% |
| BX Blackstone Inc. | 0.40% | 35,777 | $5.0M | Add +1824.5% |
| MLM Martin Marietta Materials | 0.40% | 10,357 | $5.0M | New |
| COF Capital One Financial Corp. | 0.39% | 27,472 | $4.9M | New |
| ROK Rockwell Automation Inc. | 0.39% | 18,695 | $4.8M | Reduce -2.3% |
| NOW ServiceNow Inc. | 0.36% | 5,639 | $4.5M | Add +15.8% |
| MKC McCormick & Co.-Non VTG SHRS | 0.36% | 54,386 | $4.5M | Add +87.6% |
| ICE Intercontinental Exchange Inc. | 0.35% | 25,372 | $4.4M | Add +0.3% |
| MCHP Microchip Technology Inc. | 0.35% | 89,617 | $4.3M | Add +161.1% |
| URI United Rentals Inc. | 0.34% | 6,773 | $4.2M | Add +77.7% |
| MU Micron Technology Inc. | 0.33% | 48,121 | $4.2M | Add +1.6% |
| PFG Principal Financial Group | 0.33% | 49,170 | $4.1M | New |
| MRSH Marsh & McLennan Cos | 0.30% | 15,600 | $3.8M | Reduce -6.4% |
| HD Home Depot Inc. | 0.30% | 10,084 | $3.7M | Add +81.8% |
| VRT Vertiv Holdings Co. Class A | 0.29% | 50,128 | $3.6M | Add +15.1% |
| V Visa Inc. Class A | 0.29% | 10,203 | $3.6M | Reduce -24.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.28% | 83,820 | $3.5M | Reduce -22.6% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.28% | 41,243 | $3.5M | Add +110.8% |
| UNP Union Pacific Corp. | 0.28% | 14,592 | $3.4M | Add +2.1% |
| MS Morgan Stanley | 0.26% | 28,098 | $3.3M | Add +730.3% |
| MDT Medtronic PLC | 0.26% | 35,755 | $3.2M | Add +5.3% |
| ORCL Oracle Corp. | 0.25% | 22,715 | $3.2M | Add +0.1% |
| LNG Cheniere Energy Inc. | 0.25% | 13,256 | $3.1M | Add +1.7% |
| CEG Constellation Energy | 0.24% | 15,133 | $3.1M | Reduce -14.8% |
| DD Dupont DE Nemours Inc. | 0.24% | 40,763 | $3.0M | Add +7.9% |
| MET Metlife Inc. | 0.24% | 37,747 | $3.0M | Reduce -66.5% |
| STT State Street Corp. | 0.24% | 32,903 | $2.9M | New |
| FITB Fifth Third Bancorp | 0.24% | 74,999 | $2.9M | Reduce -67.7% |
| WDC Western Digital Corp. | 0.23% | 72,287 | $2.9M | Reduce -3.1% |
| CMG Chipotle Mexican Grill Inc. | 0.23% | 57,979 | $2.9M | Reduce -0.9% |
| COST Costco Wholesale Corp. | 0.23% | 2,978 | $2.8M | Add +272.3% |
| SHOP Shopify Inc. Class A | 0.22% | 29,195 | $2.8M | Reduce -3.1% |
| CYBR Cyberark Software Ltd./Israel | 0.22% | 8,074 | $2.7M | Add +1.5% |
| LIN Linde PLC | 0.22% | 5,841 | $2.7M | Reduce -0.3% |
| IVV iShares Core S&P 500 ETF | 0.21% | 4,730 | $2.7M | Reduce -1.7% |
| WING Wingstop Inc. | 0.21% | 11,710 | $2.6M | New |
| EQH Equitable Holdings Inc. | 0.19% | 46,560 | $2.4M | New |
| PANW Palo Alto Networks Inc. | 0.19% | 13,891 | $2.4M | Add +1.4% |
| ORLY O'reilly Automotive Inc. | 0.19% | 1,646 | $2.4M | Add +7.9% |
| XLB SS Materials Select Sector | 0.19% | 26,979 | $2.3M | Reduce -52.4% |
| KKR KKR & Co. Inc. | 0.17% | 18,108 | $2.1M | New |
| IVW iShares S&P 500 Growth ETF | 0.17% | 22,464 | $2.1M | No change |
| NDAQ Nasdaq Inc. | 0.16% | 27,155 | $2.1M | New |
| XLF SS Financial Select Sector | 0.16% | 39,217 | $2.0M | Reduce -74.1% |
Portfolio Sells Q4 2024 → Q1 2025
| AVGO Broadcom Inc. | Reduce -8.2% | 2.09% | −0.92 |
| NVDA Nvidia Corp. | Reduce -1.8% | 3.00% | −0.62 |
| PG The Procter & Gamble Co. | Reduce -95.2% | 0.03% | −0.52 |
| FITB Fifth Third Bancorp | Reduce -67.7% | 0.24% | −0.52 |
| MET Metlife Inc. | Reduce -66.5% | 0.24% | −0.46 |
| MSFT Microsoft Corp. | Reduce -4.6% | 3.24% | −0.41 |
| XLF SS Financial Select Sector | Reduce -74.1% | 0.16% | −0.40 |
| QSR Restaurant Brands Intern | Reduce -81.7% | 0.09% | −0.39 |
| AAPL Apple Inc. | Reduce -2.4% | 3.70% | −0.39 |
| XLY SS Consumer Disc Select Sect | Sold out | 0.00% | −0.36 |
| TGT Target Corp. | Sold out | 0.00% | −0.36 |
| PGR Progressive Corp. | Sold out | 0.00% | −0.32 |
| ZTS Zoetis Inc. | Sold out | 0.00% | −0.31 |
| AMZN Amazon.com Inc. | Reduce -5.1% | 1.77% | −0.29 |
| DIS The Walt Disney Co. | Sold out | 0.00% | −0.27 |
| ETN Eaton Corp. PLC | Reduce -6.0% | 1.11% | −0.27 |
| STX Seagate Technology Holdings | Reduce -71.1% | 0.11% | −0.27 |
| ACGL Arch Capital Group Ltd. | Sold out | 0.00% | −0.26 |
| ATR Aptargroup Inc. | Reduce -75.8% | 0.07% | −0.21 |
| CLX Clorox Company | Reduce -23.2% | 0.51% | −0.19 |
| XLP SS Consumer Staples Sel Sect | Sold out | 0.00% | −0.18 |
| XLB SS Materials Select Sector | Reduce -52.4% | 0.19% | −0.18 |
| DLR Digital Realty Trust Inc. | Reduce -10.6% | 0.53% | −0.17 |
| VOO Vanguard S&P 500 ETF | Reduce -1.1% | 10.71% | −0.16 |
| IYR iShares US Real Estate ETF | Sold out | 0.00% | −0.11 |
| WDC Western Digital Corp. | Reduce -3.1% | 0.23% | −0.11 |
| BAC Bank of America Corp. | Reduce -22.6% | 0.28% | −0.08 |
| PH Parker Hannifin Corp. | Reduce -12.5% | 0.58% | −0.08 |
| ECL Ecolab Inc. | Reduce -79.1% | 0.02% | −0.07 |
| MTB M & T Bank Corp. | Sold out | 0.00% | −0.07 |
| ALL Allstate Corp. | Sold out | 0.00% | −0.07 |
| CEG Constellation Energy | Reduce -14.8% | 0.24% | −0.06 |
| SPGI S&P Global Inc. | Reduce -15.6% | 0.47% | −0.05 |
| XLE SS Energy Select Sector | Reduce -18.2% | 0.62% | −0.04 |
| V Visa Inc. Class A | Reduce -24.7% | 0.29% | −0.04 |
| CVX Chevron Corp. | Reduce -22.4% | 0.61% | −0.04 |
| CMG Chipotle Mexican Grill Inc. | Reduce -0.9% | 0.23% | −0.04 |
| ROK Rockwell Automation Inc. | Reduce -2.3% | 0.39% | −0.03 |
| META Meta Platforms Inc. Class A | Reduce -4.9% | 1.13% | −0.02 |
| SHOP Shopify Inc. Class A | Reduce -3.1% | 0.22% | −0.02 |
| BG Bunge Global SA | Sold out | 0.00% | −0.02 |
| GOOG Alphabet Inc. Class C | Sold out | 0.00% | −0.02 |
| EXPE Expedia Group Inc. | Sold out | 0.00% | −0.02 |
| UPS United Parcel Service Class B | Reduce -1.7% | 0.12% | −0.01 |
| FCX Freeport-McMoran Inc. | Reduce -32.2% | 0.03% | −0.01 |
| SNDK Sandisk Corp. | Reduce -14.7% | 0.08% | −0.01 |
| USB US Bancorp | Reduce -18.3% | 0.03% | −0.01 |
| EQIX Equinix Inc. | Reduce -5.2% | 0.05% | −0.01 |
| WCC Wesco International Inc. | Reduce -5.4% | 0.05% | −0.01 |
| ACN Accenture PLC Class A | Reduce -1.3% | 0.07% | −0.01 |
Portfolio Buys Q4 2024 → Q1 2025
| TFC Truist Financial Corp. | New | 0.52% | +0.52 |
| PRU Prudential Financial Inc. | Add +2211.0% | 0.46% | +0.44 |
| MLM Martin Marietta Materials | New | 0.40% | +0.40 |
| COF Capital One Financial Corp. | New | 0.39% | +0.39 |
| BX Blackstone Inc. | Add +1824.5% | 0.40% | +0.38 |
| PFG Principal Financial Group | New | 0.33% | +0.33 |
| UL Unilever PLC | Add +33.2% | 0.87% | +0.27 |
| JPM JPMorgan Chase & Co. | Add +11.8% | 1.65% | +0.27 |
| STT State Street Corp. | New | 0.24% | +0.24 |
| VST Vistra Corp. | Add +89.1% | 0.58% | +0.24 |
| SO The Southern Co. | Add +12.4% | 0.99% | +0.23 |
| MS Morgan Stanley | Add +730.3% | 0.26% | +0.23 |
| T AT&T Inc. | Add +1.9% | 0.93% | +0.23 |
| WING Wingstop Inc. | New | 0.21% | +0.21 |
| MCHP Microchip Technology Inc. | Add +161.1% | 0.35% | +0.20 |
| EQH Equitable Holdings Inc. | New | 0.19% | +0.19 |
| MKC McCormick & Co.-Non VTG SHRS | Add +87.6% | 0.36% | +0.19 |
| CSCO Cisco Systems Inc. | Add +22.6% | 0.70% | +0.18 |
| ABBV Abbvie Inc. | Add +2.8% | 0.83% | +0.18 |
| IBM Intl Business Machines Corp. | Add +3.9% | 0.91% | +0.17 |
| COST Costco Wholesale Corp. | Add +272.3% | 0.23% | +0.17 |
| KKR KKR & Co. Inc. | New | 0.17% | +0.17 |
| NDAQ Nasdaq Inc. | New | 0.16% | +0.16 |
| BNY Bank of New York Mellon Corp. | Add +110.8% | 0.28% | +0.16 |
| SCHW Schwab (charles) Corp. | New | 0.15% | +0.15 |
| JNJ Johnson & Johnson | Add +3.6% | 0.75% | +0.15 |
| URI United Rentals Inc. | Add +77.7% | 0.34% | +0.13 |
| HD Home Depot Inc. | Add +81.8% | 0.30% | +0.13 |
| ISRG Intuitive Surgical Inc. | Add +31.2% | 0.50% | +0.12 |
| VTR Ventas Inc. | New | 0.11% | +0.11 |
| KVUE Kenvue Inc. | Add +4.4% | 0.58% | +0.11 |
| VZ Verizon Communications Inc. | Add +3.0% | 0.58% | +0.11 |
| MMM 3M Co. | Add +2.0% | 0.56% | +0.10 |
| TLT iShares 20+ Year Treasury BD | Add +4.0% | 0.74% | +0.09 |
| HAS Hasbro Inc. | Add +4.1% | 0.44% | +0.07 |
| LPLA LPL Financial Holdings Inc. | New | 0.06% | +0.06 |
| ICE Intercontinental Exchange Inc. | Add +0.3% | 0.35% | +0.06 |
| WSO Watsco Inc. | Add +3.2% | 0.45% | +0.06 |
| ORLY O'reilly Automotive Inc. | Add +7.9% | 0.19% | +0.05 |
| MDT Medtronic PLC | Add +5.3% | 0.26% | +0.05 |
| WFC Wells Fargo & Co. | Add +1.1% | 0.57% | +0.04 |
| MA Mastercard Inc. Class A | Add +0.1% | 0.48% | +0.04 |
| ALRS Alerus Financial Corp. | Add +0.7% | 3.17% | +0.03 |
| LNG Cheniere Energy Inc. | Add +1.7% | 0.25% | +0.03 |
| MU Micron Technology Inc. | Add +1.6% | 0.33% | +0.03 |
| UNP Union Pacific Corp. | Add +2.1% | 0.28% | +0.03 |
| IAU iShares Gold Trust | New | 0.03% | +0.03 |
| DD Dupont DE Nemours Inc. | Add +7.9% | 0.24% | +0.02 |
| XEL Xcel Energy Inc. | New | 0.02% | +0.02 |
| XLV SS Health Care Select Sector | New | 0.02% | +0.02 |
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 |