Alerus Financial NA
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 12, 2026), Alerus Financial NA reported 508 stock positions worth $2.0 billion. Its top holding was Vanguard S&P 500 ETF (VOO) at 22.4% of the portfolio, followed by Dimensional World Ex US Core (DFAX, 14.2%) and iShares Russell Mid-Cap ETF (IWR, 4.7%). Compared with Q4 2025, it opened 53 new positions, sold out of 52, added to 97 and reduced 155. The biggest buy was Exxon Mobil (XOM, shares +4%) and the biggest sale Broadcom (AVGO, shares −3%).
- Most Recent 13F
- Q2 2026
- Location
- GRAND FORKS, ND
- CIK
- 0000919458
- Portfolio Value
- $2.0B (Q1 2026)
- SEC Filing
- 0000919458-26-000002 ↗ filed May 12, 2026
Holdings Value
Holdings 508 stocks · $2.0B
| VOO Vanguard S&P 500 ETF | 22.44% | 758,535 | $453.3M | Add +0.7% |
| DFAX Dimensional World Ex US Core | 14.15% | 8,416,314 | $285.9M | Reduce -0.2% |
| IWR iShares Russell Mid-Cap ETF | 4.71% | 979,450 | $95.2M | Add +1.8% |
| VCRB Vanguard Core Bond ETF | 3.63% | 948,779 | $73.4M | Add +1.3% |
| IXUS iShares Core Intl Stock ETF | 3.63% | 845,846 | $73.3M | Reduce -5.3% |
| NVDA Nvidia Corp. | 2.91% | 337,090 | $58.8M | Reduce -0.7% |
| ALRS Alerus Financial Corp. | 2.63% | 2,241,741 | $53.2M | Reduce -2.1% |
| AAPL Apple Inc. | 2.34% | 186,327 | $47.3M | Reduce -0.1% |
| MSFT Microsoft Corp. | 1.94% | 105,808 | $39.2M | Add +0.3% |
| AVGO Broadcom Inc. | 1.79% | 116,661 | $36.1M | Reduce -3.3% |
| GOOGL Alphabet Inc. Class A | 1.66% | 116,527 | $33.5M | Reduce -3.4% |
| VCLT Vanguard Long-Term Corp. Bond | 1.51% | 408,354 | $30.5M | Add +4.4% |
| AMZN Amazon.com Inc. | 1.25% | 121,075 | $25.2M | Reduce -0.4% |
| VCSH Vanguard S/T Corp. Bond ETF | 1.07% | 272,285 | $21.6M | Add +7.4% |
| XOM Exxon Mobil Corp. | 1.02% | 121,871 | $20.7M | Add +3.8% |
| JPM JPMorgan Chase & Co. | 0.98% | 67,359 | $19.8M | Reduce -0.2% |
| TSLA Tesla Inc. | 0.83% | 45,206 | $16.8M | Reduce -3.8% |
| LLY Eli Lilly & Co. | 0.83% | 18,122 | $16.7M | Reduce -8.0% |
| VTWO Vanguard Russell 2000 ETF | 0.80% | 161,753 | $16.2M | Reduce -3.4% |
| META Meta Platforms Inc. Class A | 0.77% | 27,293 | $15.6M | Add +1.6% |
| JNJ Johnson & Johnson | 0.76% | 62,506 | $15.3M | Add +9.4% |
| AAAU Goldman Sachs Physical Gold | 0.70% | 306,513 | $14.2M | No change |
| CSCO Cisco Systems Inc. | 0.62% | 160,198 | $12.4M | Add +17.6% |
| VZ Verizon Communications Inc. | 0.60% | 239,532 | $12.0M | Add +9.7% |
| WMT Walmart Inc. | 0.56% | 90,513 | $11.2M | Add +1.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.55% | 23,107 | $11.1M | Add +4.5% |
| ETN Eaton Corp. PLC | 0.54% | 30,676 | $11.0M | Reduce -14.6% |
| TLT iShares 20+ Year Treasury BD | 0.53% | 124,161 | $10.8M | Add +5.0% |
| SO The Southern Co. | 0.53% | 109,897 | $10.6M | Reduce -25.8% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.52% | 43,174 | $10.5M | Reduce -4.4% |
| HPE Hewlett Packard Enterprise | 0.50% | 420,433 | $10.0M | Reduce -17.3% |
| MU Micron Technology Inc. | 0.48% | 28,573 | $9.7M | Reduce -2.1% |
| ABBV Abbvie Inc. | 0.48% | 44,234 | $9.6M | Add +11.3% |
| PH Parker Hannifin Corp. | 0.44% | 9,995 | $8.9M | Reduce -2.7% |
| GE General Electric filed as GE AEROSPACE | 0.43% | 30,563 | $8.7M | Reduce -10.6% |
| T AT&T Inc. | 0.43% | 296,694 | $8.6M | Reduce -7.9% |
| CVX Chevron Corp. | 0.42% | 41,183 | $8.5M | Add +5.5% |
| VRT Vertiv Holdings Co. Class A | 0.42% | 33,946 | $8.5M | Reduce -22.2% |
| UNH Unitedhealth Group Inc. | 0.41% | 30,448 | $8.2M | Reduce -3.7% |
| NFLX Netflix Inc. | 0.39% | 81,792 | $7.9M | Add +4.1% |
| COR Cencora Inc. | 0.38% | 24,110 | $7.6M | Reduce -9.6% |
| HD Home Depot Inc. | 0.36% | 21,914 | $7.2M | Add +17.5% |
| WFC Wells Fargo & Co. | 0.35% | 88,554 | $7.0M | Reduce -3.1% |
| TFC Truist Financial Corp. | 0.35% | 152,297 | $7.0M | Reduce -11.8% |
| TTWO Take-Two Interactive Softwre | 0.33% | 33,636 | $6.6M | Reduce -11.2% |
| MRK Merck & Co. Inc. | 0.32% | 53,203 | $6.4M | Add +35.0% |
| CDNS Cadence Design SYS Inc. | 0.31% | 22,502 | $6.3M | Reduce -17.1% |
| CAT Caterpillar Inc. | 0.30% | 8,662 | $6.1M | Reduce -11.6% |
| PG The Procter & Gamble Co. | 0.30% | 42,390 | $6.1M | Add +30.2% |
| LNG Cheniere Energy Inc. | 0.29% | 20,679 | $5.9M | Reduce -20.9% |
| UL Unilever PLC-Sponsored ADR | 0.29% | 102,522 | $5.8M | New |
| DLR Digital Realty Trust Inc. | 0.27% | 30,720 | $5.5M | Reduce -29.1% |
| MA Mastercard Inc. Class A | 0.27% | 10,932 | $5.5M | Reduce -1.5% |
| ICE Intercontinental Exchange Inc. | 0.26% | 33,943 | $5.3M | Reduce -13.3% |
| PRU Prudential Financial Inc. | 0.26% | 52,766 | $5.2M | Reduce -17.4% |
| HEI Heico Corp. | 0.25% | 18,713 | $5.1M | Reduce -14.5% |
| MMM 3M Co. | 0.25% | 35,136 | $5.1M | Reduce -21.3% |
| COF Capital One Financial Corp. | 0.25% | 27,896 | $5.1M | Reduce -0.3% |
| ISRG Intuitive Surgical Inc. | 0.25% | 11,003 | $5.1M | Reduce -14.5% |
| LNT Alliant Energy Corp. | 0.24% | 68,413 | $4.9M | Reduce -26.9% |
| XLE SS Energy Select Sector | 0.24% | 79,535 | $4.9M | Reduce -21.3% |
| BSX Boston Scientific Corp. | 0.24% | 77,034 | $4.8M | Reduce -8.6% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.24% | 105,287 | $4.8M | Reduce -18.5% |
| SHOP Shopify Inc. Class A | 0.23% | 39,251 | $4.7M | Reduce -12.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.23% | 94,204 | $4.6M | Add +44.5% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.22% | 37,416 | $4.4M | Reduce -16.3% |
| STX Seagate Technology Holdings | 0.22% | 11,098 | $4.3M | Reduce -0.7% |
| WSO Watsco Inc. | 0.21% | 11,939 | $4.3M | Reduce -3.6% |
| TMO Thermo Fisher Scientific Inc. | 0.21% | 8,659 | $4.3M | Reduce -5.4% |
| COST Costco Wholesale Corp. | 0.21% | 4,264 | $4.2M | Add +10.0% |
| BBY Best Buy Co. Inc. | 0.21% | 65,963 | $4.2M | Reduce -13.1% |
| SCHW Schwab (charles) Corp. | 0.21% | 45,018 | $4.2M | Reduce -23.9% |
| V Visa Inc. Class A | 0.20% | 13,427 | $4.1M | Add +40.9% |
| MLM Martin Marietta Materials | 0.20% | 6,833 | $4.0M | Reduce -16.8% |
| ROK Rockwell Automation Inc. | 0.19% | 10,597 | $3.8M | Reduce -28.1% |
| ORCL Oracle Corp. | 0.19% | 25,584 | $3.8M | Add +11.3% |
| PM Philip Morris International | 0.19% | 22,640 | $3.7M | Add +0.5% |
| BLK BlackRock Inc. | 0.18% | 3,742 | $3.6M | Reduce -21.3% |
| HAS Hasbro Inc. | 0.18% | 37,994 | $3.6M | Reduce -20.9% |
| URI United Rentals Inc. | 0.17% | 4,651 | $3.4M | Reduce -25.4% |
| PFG Principal Financial Group | 0.17% | 37,347 | $3.4M | Reduce -34.3% |
| VTI VG Morningstar TS MKT ETF-US | 0.16% | 10,263 | $3.3M | No change |
| MDT Medtronic PLC | 0.16% | 37,961 | $3.3M | Reduce -29.8% |
| AMAT Applied Materials Inc. | 0.16% | 9,548 | $3.3M | Reduce -20.6% |
| FITB Fifth Third Bancorp | 0.16% | 69,263 | $3.2M | Reduce -0.8% |
| C Citigroup Inc. | 0.16% | 27,660 | $3.1M | Reduce -0.6% |
| IVV iShares Core S&P 500 ETF | 0.15% | 4,750 | $3.1M | Reduce -0.7% |
| WDC Western Digital Corp. | 0.15% | 11,102 | $3.0M | Reduce -33.4% |
| PANW Palo Alto Networks Inc. | 0.15% | 18,458 | $3.0M | Add +27.5% |
| SJM The JM Smucker Co. filed as SMUCKER J M CO | 0.14% | 29,839 | $2.9M | Reduce -32.0% |
| XLP SS Consumer Staples Sel Sect | 0.14% | 34,831 | $2.9M | Reduce -19.6% |
| MCD McDonald's Corp. | 0.14% | 8,892 | $2.8M | Add +66.5% |
| KO The Coca-Cola Co. | 0.14% | 36,297 | $2.8M | Add +94.5% |
| AMD Advanced Micro Devices | 0.13% | 12,997 | $2.6M | Add +354.8% |
| MS Morgan Stanley | 0.13% | 15,463 | $2.5M | Reduce -10.9% |
| SMG Scotts Miracle-Gro Co. | 0.12% | 40,701 | $2.5M | Reduce -36.3% |
| FAST Fastenal Co. | 0.12% | 51,453 | $2.4M | Reduce -28.1% |
| NXPI NXP Semiconductors NV | 0.11% | 11,644 | $2.3M | Reduce -18.9% |
| IVW iShares S&P 500 Growth ETF | 0.11% | 20,229 | $2.3M | Reduce -8.4% |
| XLB SS Materials Select Sector | 0.11% | 43,485 | $2.2M | Reduce -21.7% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $36K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 30 | $36K | No change |
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | 13 | $29 | No change |
Total filed on the 13F, all lines: $2.0B.
Portfolio Sells Q4 2025 → Q1 2026
| AVGO Broadcom Inc. | Reduce -3.3% | 1.79% | −0.25 |
| LLY Eli Lilly & Co. | Reduce -8.0% | 0.83% | −0.21 |
| TSLA Tesla Inc. | Reduce -3.8% | 0.83% | −0.20 |
| GOOGL Alphabet Inc. Class A | Reduce -3.4% | 1.66% | −0.19 |
| NVDA Nvidia Corp. | Reduce -0.7% | 2.91% | −0.19 |
| BSX Boston Scientific Corp. | Reduce -8.6% | 0.24% | −0.15 |
| TTWO Take-Two Interactive Softwre | Reduce -11.2% | 0.33% | −0.15 |
| CYBR Cyberark Software Ltd./Israel | Sold out | 0.00% | −0.14 |
| AAPL Apple Inc. | Reduce -0.1% | 2.34% | −0.14 |
| IBM Intl Business Machines Corp. | Reduce -4.4% | 0.52% | −0.14 |
| AMZN Amazon.com Inc. | Reduce -0.4% | 1.25% | −0.12 |
| NOW ServiceNow Inc. | Reduce -36.5% | 0.10% | −0.12 |
| SHOP Shopify Inc. Class A | Reduce -12.1% | 0.23% | −0.12 |
| SO The Southern Co. | Reduce -25.8% | 0.53% | −0.11 |
| CDNS Cadence Design SYS Inc. | Reduce -17.1% | 0.31% | −0.11 |
| ISRG Intuitive Surgical Inc. | Reduce -14.5% | 0.25% | −0.11 |
| UNH Unitedhealth Group Inc. | Reduce -3.7% | 0.41% | −0.10 |
| HPE Hewlett Packard Enterprise | Reduce -17.3% | 0.50% | −0.10 |
| PRU Prudential Financial Inc. | Reduce -17.4% | 0.26% | −0.10 |
| MMM 3M Co. | Reduce -21.3% | 0.25% | −0.10 |
| HEI Heico Corp. | Reduce -14.5% | 0.25% | −0.09 |
| ROK Rockwell Automation Inc. | Reduce -28.1% | 0.19% | −0.09 |
| MDT Medtronic PLC | Reduce -29.8% | 0.16% | −0.09 |
| BX Blackstone Inc. | Reduce -27.5% | 0.10% | −0.09 |
| GE General Electric | Reduce -10.6% | 0.43% | −0.09 |
| JPM JPMorgan Chase & Co. | Reduce -0.2% | 0.98% | −0.08 |
| COF Capital One Financial Corp. | Reduce -0.3% | 0.25% | −0.08 |
| SCHW Schwab (charles) Corp. | Reduce -23.9% | 0.21% | −0.08 |
| URI United Rentals Inc. | Reduce -25.4% | 0.17% | −0.08 |
| PFG Principal Financial Group | Reduce -34.3% | 0.17% | −0.08 |
| BLK BlackRock Inc. | Reduce -21.3% | 0.18% | −0.07 |
| SNAP Snap Inc. Class A | Reduce -92.5% | 0.00% | −0.07 |
| IXUS iShares Core Intl Stock ETF | Reduce -5.3% | 3.63% | −0.07 |
| VCIT Vanguard Int-Term Corporate | Reduce -42.9% | 0.09% | −0.07 |
| EQH Equitable Holdings Inc. | Reduce -88.7% | 0.01% | −0.07 |
| TFC Truist Financial Corp. | Reduce -11.8% | 0.35% | −0.07 |
| SJM The JM Smucker Co. | Reduce -32.0% | 0.14% | −0.07 |
| WFC Wells Fargo & Co. | Reduce -3.1% | 0.35% | −0.07 |
| COR Cencora Inc. | Reduce -9.6% | 0.38% | −0.07 |
| SMG Scotts Miracle-Gro Co. | Reduce -36.3% | 0.12% | −0.06 |
| LNT Alliant Energy Corp. | Reduce -26.9% | 0.24% | −0.05 |
| DLR Digital Realty Trust Inc. | Reduce -29.1% | 0.27% | −0.05 |
| MLM Martin Marietta Materials | Reduce -16.8% | 0.20% | −0.05 |
| TMO Thermo Fisher Scientific Inc. | Reduce -5.4% | 0.21% | −0.05 |
| ARM Arm Holdings PLC-ADR | Reduce -59.3% | 0.06% | −0.05 |
| ICE Intercontinental Exchange Inc. | Reduce -13.3% | 0.26% | −0.05 |
| MA Mastercard Inc. Class A | Reduce -1.5% | 0.27% | −0.04 |
| STT State Street Corp. | Reduce -31.7% | 0.08% | −0.04 |
| BBY Best Buy Co. Inc. | Reduce -13.1% | 0.21% | −0.04 |
| NXPI NXP Semiconductors NV | Reduce -18.9% | 0.11% | −0.04 |
Portfolio Buys Q4 2025 → Q1 2026
| XOM Exxon Mobil Corp. | Add +3.8% | 1.02% | +0.33 |
| UL Unilever PLC-Sponsored ADR | New | 0.29% | +0.29 |
| IWR iShares Russell Mid-Cap ETF | Add +1.8% | 4.71% | +0.18 |
| JNJ Johnson & Johnson | Add +9.4% | 0.76% | +0.18 |
| VZ Verizon Communications Inc. | Add +9.7% | 0.60% | +0.16 |
| CVX Chevron Corp. | Add +5.5% | 0.42% | +0.13 |
| MRK Merck & Co. Inc. | Add +35.0% | 0.32% | +0.11 |
| CSCO Cisco Systems Inc. | Add +17.6% | 0.62% | +0.10 |
| AMD Advanced Micro Devices | Add +354.8% | 0.13% | +0.10 |
| DOW Dow Inc. | Add +4260.4% | 0.09% | +0.09 |
| EOG EOG Resources Inc. | Add +1933.5% | 0.09% | +0.08 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +7.4% | 1.07% | +0.08 |
| RTX RTX Corp. | Add +2042.0% | 0.08% | +0.08 |
| PG The Procter & Gamble Co. | Add +30.2% | 0.30% | +0.07 |
| KO The Coca-Cola Co. | Add +94.5% | 0.14% | +0.07 |
| WMT Walmart Inc. | Add +1.6% | 0.56% | +0.07 |
| COP Conocophillips | Add +659.4% | 0.08% | +0.07 |
| KMI Kinder Morgan Inc. | New | 0.07% | +0.07 |
| PLTR Palantir Technologies Inc. Class A | Add +1611.5% | 0.07% | +0.07 |
| CMCSA Comcast Corp. Class A | Add +12797.8% | 0.07% | +0.07 |
| PFE Pfizer Inc. | Add +2708.3% | 0.07% | +0.07 |
| VCRB Vanguard Core Bond ETF | Add +1.3% | 3.63% | +0.06 |
| LMT Lockheed Martin Corp. | Add +678.2% | 0.07% | +0.06 |
| BMY Bristol-Myers Squibb Co. | New | 0.06% | +0.06 |
| EIX Edison International | New | 0.06% | +0.06 |
| VCLT Vanguard Long-Term Corp. Bond | Add +4.4% | 1.51% | +0.06 |
| GILD Gilead Sciences Inc. | Add +28627.6% | 0.06% | +0.06 |
| TGT Target Corp. | Add +3432.3% | 0.06% | +0.06 |
| MCD McDonald's Corp. | Add +66.5% | 0.14% | +0.06 |
| MO Altria Group Inc. | Add +1126.0% | 0.06% | +0.06 |
| TXN Texas Instruments Inc. | Add +203.4% | 0.08% | +0.05 |
| SW Smurfit Westrock PLC | New | 0.05% | +0.05 |
| FE Firstenergy Corp. | New | 0.05% | +0.05 |
| OKE Oneok Inc. | Add +5226.8% | 0.05% | +0.05 |
| BAC Bank of America Corp. | Add +44.5% | 0.23% | +0.05 |
| TMUS T-Mobile US Inc. | New | 0.05% | +0.05 |
| EVRG Evergy Inc. | New | 0.05% | +0.05 |
| DRI Darden Restaurants Inc. | New | 0.05% | +0.05 |
| KHC The Kraft Heinz Co. | New | 0.05% | +0.05 |
| KVUE Kenvue Inc. | Add +897.9% | 0.05% | +0.05 |
| CVS CVS Health Corp. | Add +15580.9% | 0.05% | +0.05 |
| ES Eversource Energy | New | 0.05% | +0.05 |
| OMC Omnicom Group | Add +544.1% | 0.06% | +0.05 |
| SNA Snap-on Inc. | Add +19078.6% | 0.05% | +0.05 |
| LRCX Lam Research Corp. | Add +524.0% | 0.05% | +0.05 |
| MTB M & T Bank Corp. | Add +21190.9% | 0.05% | +0.05 |
| SBUX Starbucks Corp. | Add +2602.2% | 0.05% | +0.05 |
| GIS General Mills Inc. | New | 0.05% | +0.05 |
| PAYX Paychex Inc. | New | 0.05% | +0.05 |
| D Dominion Energy Inc. | New | 0.05% | +0.05 |
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 |