Alerus Financial NA
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Alerus Financial NA reported 506 stock positions worth $2.0 billion. Its top holding was Vanguard S&P 500 ETF (VOO) at 23.1% of the portfolio, followed by Dimensional World Ex US Core (DFAX, 13.5%) and iShares Russell Mid-Cap ETF (IWR, 4.5%). Compared with Q3 2025, it opened 17 new positions, sold out of 42, added to 64 and reduced 145. The biggest buy was iShares Russell Mid-Cap ETF (IWR, shares +157%) and the biggest sale an exit from Unilever (UL).
- Most Recent 13F
- Q2 2026
- Location
- GRAND FORKS, ND
- CIK
- 0000919458
- Portfolio Value
- $2.0B (Q4 2025)
- SEC Filing
- 0000919458-26-000001 ↗ filed Feb 13, 2026
Holdings Value
Holdings 506 stocks · $2.0B
| VOO Vanguard S&P 500 ETF | 23.12% | 753,577 | $472.6M | Add +0.7% |
| DFAX Dimensional World Ex US Core | 13.50% | 8,432,666 | $276.0M | Add +0.6% |
| IWR iShares Russell Mid-Cap ETF | 4.53% | 962,625 | $92.7M | Add +156.9% |
| IXUS iShares Core Intl Stock ETF | 3.70% | 893,285 | $75.6M | Reduce -1.8% |
| VCRB Vanguard Core Bond ETF | 3.57% | 936,945 | $73.0M | Add +2.8% |
| NVDA Nvidia Corp. | 3.10% | 339,339 | $63.3M | Reduce -1.0% |
| ALRS Alerus Financial Corp. | 2.52% | 2,289,199 | $51.6M | Reduce -1.1% |
| MSFT Microsoft Corp. | 2.49% | 105,445 | $51.0M | Add +0.6% |
| AAPL Apple Inc. | 2.48% | 186,447 | $50.7M | Reduce -1.9% |
| AVGO Broadcom Inc. | 2.04% | 120,634 | $41.8M | Reduce -12.1% |
| GOOGL Alphabet Inc. Class A | 1.85% | 120,624 | $37.8M | Reduce -3.0% |
| VCLT Vanguard Long-Term Corp. Bond | 1.45% | 391,270 | $29.7M | Reduce -5.5% |
| AMZN Amazon.com Inc. | 1.37% | 121,561 | $28.1M | Add +1.1% |
| JPM JPMorgan Chase & Co. | 1.06% | 67,487 | $21.7M | Reduce -17.8% |
| LLY Eli Lilly & Co. | 1.04% | 19,704 | $21.2M | Reduce -1.7% |
| TSLA Tesla Inc. | 1.03% | 47,002 | $21.1M | Reduce -3.0% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.99% | 253,508 | $20.2M | New |
| META Meta Platforms Inc. Class A | 0.87% | 26,864 | $17.7M | Add +2.8% |
| VTWO Vanguard Russell 2000 ETF | 0.82% | 167,452 | $16.7M | Reduce -1.7% |
| XOM Exxon Mobil Corp. | 0.69% | 117,453 | $14.1M | Reduce -3.9% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.65% | 45,143 | $13.4M | Add +1.7% |
| AAAU Goldman Sachs Physical Gold | 0.64% | 306,513 | $13.0M | Add +0.1% |
| SO The Southern Co. | 0.63% | 148,126 | $12.9M | Add +1.5% |
| HPE Hewlett Packard Enterprise | 0.60% | 508,352 | $12.2M | Reduce -5.6% |
| JNJ Johnson & Johnson | 0.58% | 57,115 | $11.8M | Add +0.4% |
| ETN Eaton Corp. PLC | 0.56% | 35,918 | $11.4M | Reduce -25.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.54% | 22,101 | $11.1M | Add +3.9% |
| GE General Electric filed as GE AEROSPACE | 0.52% | 34,199 | $10.5M | Reduce -6.1% |
| CSCO Cisco Systems Inc. | 0.51% | 136,232 | $10.5M | Add +1.3% |
| UNH Unitedhealth Group Inc. | 0.51% | 31,628 | $10.4M | Add +100.0% |
| TLT iShares 20+ Year Treasury BD | 0.50% | 118,188 | $10.3M | Add +6.2% |
| WMT Walmart Inc. | 0.49% | 89,083 | $9.9M | Reduce -0.8% |
| TTWO Take-Two Interactive Softwre | 0.47% | 37,891 | $9.7M | Reduce -20.9% |
| ABBV Abbvie Inc. | 0.44% | 39,733 | $9.1M | Reduce -11.0% |
| PH Parker Hannifin Corp. | 0.44% | 10,277 | $9.0M | Reduce -20.9% |
| COR Cencora Inc. | 0.44% | 26,672 | $9.0M | Reduce -16.1% |
| VZ Verizon Communications Inc. | 0.44% | 218,410 | $8.9M | Add +39.4% |
| WFC Wells Fargo & Co. | 0.42% | 91,364 | $8.5M | Add +0.0% |
| TFC Truist Financial Corp. | 0.42% | 172,575 | $8.5M | Add +5.0% |
| CDNS Cadence Design SYS Inc. | 0.42% | 27,157 | $8.5M | Reduce -8.5% |
| MU Micron Technology Inc. | 0.41% | 29,197 | $8.3M | Reduce -3.0% |
| BSX Boston Scientific Corp. | 0.39% | 84,274 | $8.0M | Reduce -0.6% |
| T AT&T Inc. | 0.39% | 322,139 | $8.0M | Add +0.6% |
| NFLX Netflix Inc. | 0.36% | 78,560 | $7.4M | Add +9.8% |
| ISRG Intuitive Surgical Inc. | 0.36% | 12,867 | $7.3M | Reduce -2.7% |
| PRU Prudential Financial Inc. | 0.35% | 63,897 | $7.2M | Add +7.0% |
| SHOP Shopify Inc. Class A | 0.35% | 44,635 | $7.2M | Add +68.4% |
| MMM 3M Co. | 0.35% | 44,622 | $7.1M | Add +2.6% |
| HEI Heico Corp. | 0.35% | 21,895 | $7.1M | Reduce -2.4% |
| VRT Vertiv Holdings Co. Class A | 0.35% | 43,608 | $7.1M | Reduce -8.0% |
| COF Capital One Financial Corp. | 0.33% | 27,985 | $6.8M | Add +0.6% |
| DLR Digital Realty Trust Inc. | 0.33% | 43,349 | $6.7M | Reduce -2.6% |
| HD Home Depot Inc. | 0.31% | 18,654 | $6.4M | Add +250.6% |
| ICE Intercontinental Exchange Inc. | 0.31% | 39,151 | $6.3M | Add +0.7% |
| MA Mastercard Inc. Class A | 0.31% | 11,098 | $6.3M | Reduce -2.1% |
| LNT Alliant Energy Corp. | 0.30% | 93,578 | $6.1M | Add +4.0% |
| CVX Chevron Corp. | 0.29% | 39,049 | $6.0M | Add +31.3% |
| SCHW Schwab (charles) Corp. | 0.29% | 59,143 | $5.9M | Add +21.5% |
| ROK Rockwell Automation Inc. | 0.28% | 14,728 | $5.7M | Reduce -7.6% |
| CAT Caterpillar Inc. | 0.27% | 9,801 | $5.6M | Add +996.3% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.27% | 129,212 | $5.5M | Reduce -1.4% |
| TMO Thermo Fisher Scientific Inc. | 0.26% | 9,156 | $5.3M | Add +76.5% |
| MDT Medtronic PLC | 0.25% | 54,094 | $5.2M | Add +40.1% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.25% | 44,682 | $5.2M | Add +8.9% |
| MLM Martin Marietta Materials | 0.25% | 8,217 | $5.1M | Reduce -0.1% |
| BLK BlackRock Inc. | 0.25% | 4,755 | $5.1M | Add +3673.8% |
| BBY Best Buy Co. Inc. | 0.25% | 75,935 | $5.1M | Reduce -22.0% |
| LNG Cheniere Energy Inc. | 0.25% | 26,143 | $5.1M | Add +5.3% |
| URI United Rentals Inc. | 0.25% | 6,239 | $5.0M | Reduce -1.8% |
| PFG Principal Financial Group | 0.25% | 56,863 | $5.0M | Add +6.8% |
| PG The Procter & Gamble Co. | 0.23% | 32,565 | $4.7M | Add +1485.4% |
| XLE SS Energy Select Sector | 0.22% | 101,067 | $4.5M | Reduce -2.5% |
| ORCL Oracle Corp. | 0.22% | 22,986 | $4.5M | Add +0.6% |
| NOW ServiceNow Inc. | 0.22% | 29,212 | $4.5M | Reduce -0.7% |
| SJM The JM Smucker Co. filed as SMUCKER J M CO | 0.21% | 43,899 | $4.3M | Reduce -28.3% |
| WSO Watsco Inc. | 0.20% | 12,383 | $4.2M | Add +13.7% |
| MRK Merck & Co. Inc. | 0.20% | 39,416 | $4.1M | Add +315.3% |
| HAS Hasbro Inc. | 0.19% | 48,046 | $3.9M | Reduce -42.3% |
| BX Blackstone Inc. | 0.19% | 25,300 | $3.9M | Reduce -29.8% |
| SMG Scotts Miracle-Gro Co. | 0.18% | 63,847 | $3.7M | New |
| PM Philip Morris International | 0.18% | 22,520 | $3.6M | Add +1593.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.18% | 65,179 | $3.6M | Add +1.3% |
| VTI VG Morningstar TS MKT ETF-US | 0.17% | 10,263 | $3.4M | Add +21.0% |
| XLP SS Consumer Staples Sel Sect | 0.16% | 43,340 | $3.4M | Add +41573.1% |
| V Visa Inc. Class A | 0.16% | 9,531 | $3.3M | Reduce -3.7% |
| COST Costco Wholesale Corp. | 0.16% | 3,875 | $3.3M | Add +26.6% |
| VCIT Vanguard Int-Term Corporate | 0.16% | 39,786 | $3.3M | Reduce -67.3% |
| IVV iShares Core S&P 500 ETF | 0.16% | 4,785 | $3.3M | Add +0.4% |
| FITB Fifth Third Bancorp | 0.16% | 69,806 | $3.3M | Reduce -1.2% |
| C Citigroup Inc. | 0.16% | 27,812 | $3.2M | Add +16.3% |
| NXPI NXP Semiconductors NV | 0.15% | 14,354 | $3.1M | Add +2.1% |
| AMAT Applied Materials Inc. | 0.15% | 12,026 | $3.1M | Reduce -3.9% |
| MS Morgan Stanley | 0.15% | 17,363 | $3.1M | Reduce -38.6% |
| STX Seagate Technology Holdings | 0.15% | 11,181 | $3.1M | Reduce -26.8% |
| CYBR Cyberark Software Ltd./Israel | 0.14% | 6,611 | $2.9M | Reduce -18.5% |
| FAST Fastenal Co. | 0.14% | 71,569 | $2.9M | Add +2.6% |
| WDC Western Digital Corp. | 0.14% | 16,667 | $2.9M | Reduce -70.2% |
| IVW iShares S&P 500 Growth ETF | 0.13% | 22,097 | $2.7M | Reduce -1.8% |
| PANW Palo Alto Networks Inc. | 0.13% | 14,472 | $2.7M | Add +0.1% |
| XLB SS Materials Select Sector | 0.12% | 55,562 | $2.5M | Add +3.8% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $38K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 30 | $38K | No change |
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | 13 | $35 | No change |
Total filed on the 13F, all lines: $2.0B.
Portfolio Sells Q3 2025 → Q4 2025
| UL Unilever PLC | Sold out | 0.00% | −0.55 |
| VCIT Vanguard Int-Term Corporate | Reduce -67.3% | 0.16% | −0.36 |
| ETN Eaton Corp. PLC | Reduce -25.3% | 0.56% | −0.36 |
| AVGO Broadcom Inc. | Reduce -12.1% | 2.04% | −0.26 |
| JPM JPMorgan Chase & Co. | Reduce -17.8% | 1.06% | −0.25 |
| MKC McCormick & Co.-Non VTG SHRS | Reduce -99.4% | 0.00% | −0.21 |
| WDC Western Digital Corp. | Reduce -70.2% | 0.14% | −0.20 |
| SCHD Schwab US DVD Equity ETF | Reduce -99.2% | 0.00% | −0.19 |
| VCLT Vanguard Long-Term Corp. Bond | Reduce -5.5% | 1.45% | −0.18 |
| IJH iShares Core S&P Midcap ETF | Reduce -81.0% | 0.04% | −0.18 |
| NVDA Nvidia Corp. | Reduce -1.0% | 3.10% | −0.16 |
| TTWO Take-Two Interactive Softwre | Reduce -20.9% | 0.47% | −0.16 |
| CMG Chipotle Mexican Grill Inc. | Reduce -98.0% | 0.00% | −0.14 |
| CLX Clorox Company | Reduce -92.8% | 0.01% | −0.13 |
| HAS Hasbro Inc. | Reduce -42.3% | 0.19% | −0.13 |
| SJM The JM Smucker Co. | Reduce -28.3% | 0.21% | −0.13 |
| BBY Best Buy Co. Inc. | Reduce -22.0% | 0.25% | −0.13 |
| IXUS iShares Core Intl Stock ETF | Reduce -1.8% | 3.70% | −0.13 |
| SPGI S&P Global Inc. | Reduce -81.8% | 0.03% | −0.12 |
| BX Blackstone Inc. | Reduce -29.8% | 0.19% | −0.12 |
| MRSH Marsh & McLennan Cos | Reduce -73.7% | 0.04% | −0.12 |
| CDNS Cadence Design SYS Inc. | Reduce -8.5% | 0.42% | −0.12 |
| KKR KKR & Co. Inc. | Reduce -91.9% | 0.01% | −0.11 |
| XLF SS Financial Select Sector | Reduce -98.2% | 0.00% | −0.10 |
| ALRS Alerus Financial Corp. | Reduce -1.1% | 2.52% | −0.09 |
| ABBV Abbvie Inc. | Reduce -11.0% | 0.44% | −0.08 |
| MS Morgan Stanley | Reduce -38.6% | 0.15% | −0.08 |
| HPE Hewlett Packard Enterprise | Reduce -5.6% | 0.60% | −0.08 |
| STT State Street Corp. | Reduce -42.2% | 0.12% | −0.08 |
| COR Cencora Inc. | Reduce -16.1% | 0.44% | −0.07 |
| DLR Digital Realty Trust Inc. | Reduce -2.6% | 0.33% | −0.06 |
| TSLA Tesla Inc. | Reduce -3.0% | 1.03% | −0.06 |
| MET Metlife Inc. | Reduce -35.6% | 0.09% | −0.06 |
| URI United Rentals Inc. | Reduce -1.8% | 0.25% | −0.06 |
| JMTG Mortgage-Backed Securities | Sold out | 0.00% | −0.06 |
| PH Parker Hannifin Corp. | Reduce -20.9% | 0.44% | −0.06 |
| IEMG iShares Core MSCI Emerging | Reduce -99.6% | 0.00% | −0.06 |
| NOW ServiceNow Inc. | Reduce -0.7% | 0.22% | −0.06 |
| CYBR Cyberark Software Ltd./Israel | Reduce -18.5% | 0.14% | −0.06 |
| HBAN Huntington Bancshares Inc. | Sold out | 0.00% | −0.05 |
| QSR Restaurant Brands Intern | Reduce -82.7% | 0.01% | −0.05 |
| EQH Equitable Holdings Inc. | Reduce -30.6% | 0.08% | −0.05 |
| GE General Electric | Reduce -6.1% | 0.52% | −0.04 |
| VIOG Vanguard S&P SM Cap 600 GRW | Sold out | 0.00% | −0.04 |
| LIN Linde PLC | Reduce -14.4% | 0.10% | −0.03 |
| BSCP Invesco Bulletshares 2025 CB | Sold out | 0.00% | −0.03 |
| VTWO Vanguard Russell 2000 ETF | Reduce -1.7% | 0.82% | −0.03 |
| STX Seagate Technology Holdings | Reduce -26.8% | 0.15% | −0.03 |
| MCD McDonald's Corp. | Reduce -26.3% | 0.08% | −0.03 |
| BSX Boston Scientific Corp. | Reduce -0.6% | 0.39% | −0.03 |
Portfolio Buys Q3 2025 → Q4 2025
| IWR iShares Russell Mid-Cap ETF | Add +156.9% | 4.53% | +2.69 |
| VCSH Vanguard S/T Corp. Bond ETF | New | 0.99% | +0.99 |
| CAT Caterpillar Inc. | Add +996.3% | 0.27% | +0.25 |
| BLK BlackRock Inc. | Add +3673.8% | 0.25% | +0.24 |
| UNH Unitedhealth Group Inc. | Add +100.0% | 0.51% | +0.23 |
| PG The Procter & Gamble Co. | Add +1485.4% | 0.23% | +0.21 |
| HD Home Depot Inc. | Add +250.6% | 0.31% | +0.20 |
| SMG Scotts Miracle-Gro Co. | New | 0.18% | +0.18 |
| PM Philip Morris International | Add +1593.2% | 0.18% | +0.17 |
| XLP SS Consumer Staples Sel Sect | Add +41573.1% | 0.16% | +0.16 |
| MRK Merck & Co. Inc. | Add +315.3% | 0.20% | +0.16 |
| SHOP Shopify Inc. Class A | Add +68.4% | 0.35% | +0.15 |
| TMO Thermo Fisher Scientific Inc. | Add +76.5% | 0.26% | +0.13 |
| DFAX Dimensional World Ex US Core | Add +0.6% | 13.50% | +0.12 |
| VZ Verizon Communications Inc. | Add +39.4% | 0.44% | +0.08 |
| SNAP Snap Inc. Class A | Add +9248.5% | 0.07% | +0.07 |
| MDT Medtronic PLC | Add +40.1% | 0.25% | +0.07 |
| CVX Chevron Corp. | Add +31.3% | 0.29% | +0.06 |
| SCHW Schwab (charles) Corp. | Add +21.5% | 0.29% | +0.05 |
| CSCO Cisco Systems Inc. | Add +1.3% | 0.51% | +0.05 |
| AAAU Goldman Sachs Physical Gold | Add +0.1% | 0.64% | +0.04 |
| JNJ Johnson & Johnson | Add +0.4% | 0.58% | +0.04 |
| PRU Prudential Financial Inc. | Add +7.0% | 0.35% | +0.04 |
| C Citigroup Inc. | Add +16.3% | 0.16% | +0.04 |
| TFC Truist Financial Corp. | Add +5.0% | 0.42% | +0.03 |
| COF Capital One Financial Corp. | Add +0.6% | 0.33% | +0.03 |
| AMZN Amazon.com Inc. | Add +1.1% | 1.37% | +0.03 |
| WFC Wells Fargo & Co. | Add +0.0% | 0.42% | +0.03 |
| VTI VG Morningstar TS MKT ETF-US | Add +21.0% | 0.17% | +0.03 |
| BNY Bank of New York Mellon Corp. | Add +8.9% | 0.25% | +0.03 |
| PFG Principal Financial Group | Add +6.8% | 0.25% | +0.02 |
| COST Costco Wholesale Corp. | Add +26.6% | 0.16% | +0.02 |
| IBM Intl Business Machines Corp. | Add +1.7% | 0.65% | +0.02 |
| VXF Vanguard Extended Market ETF | New | 0.02% | +0.02 |
| UPS United Parcel Service Class B | Add +10.7% | 0.07% | +0.01 |
| VXUS Vanguard Total Intl Stock | New | 0.01% | +0.01 |
| BAC Bank of America Corp. | Add +1.3% | 0.18% | +0.01 |
| MMM 3M Co. | Add +2.6% | 0.35% | +0.01 |
| VTR Ventas Inc. | Add +1.6% | 0.08% | +0.01 |
| DVY iShares Select Dividend ETF | Add +15.3% | 0.03% | +0.00 |
| SCCO Southern Copper Corp. | Add +0.8% | 0.01% | +0.00 |
| XUSP Innovator Uncapped Acc US Eq | Add +35.5% | 0.01% | +0.00 |
| XLB SS Materials Select Sector | Add +3.8% | 0.12% | +0.00 |
| INTC Intel Corp. | Add +4.6% | 0.01% | +0.00 |
| VNOM Viper Energy Inc. Class A | New | 0.00% | +0.00 |
| HIPO Hippo Holdings Inc. | New | 0.00% | +0.00 |
| OTTR Otter Tail Corp. | Add +7.5% | 0.04% | +0.00 |
| XLG Invesco S&P 500 Top 50 ETF | New | 0.00% | +0.00 |
| SPYG SS SPDR P S&P 500 Growth ETF | Add +1050.0% | 0.00% | +0.00 |
| GSIE Goldman Sachs Activebeta Int | New | 0.00% | +0.00 |
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 |