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Portfolio (Quarterly) Guide ↗

ALERUS FINANCIAL NA

· CIK 0000919458
13F Portfolio $2.0B AUM 515 positions Filed May 12, 2026 EDGAR ↗ ← All Funds
Q1 2026 Q4 2025 · All 54 New 96 Added 146 Reduced 52 Exited
Page 8 of 8  ·  146 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
141 GOVT ISHARES TR 21.0 $481.0 -21.0 -50.0% $22.90 -1.5%
142 EFAV ISHARES TR 4.0 $365.0 -4.0 -50.0% $91.25 -1.1%
143 SPYG SPDR SERIES TRUST 2.0 $196.0 -44.0 -95.7% $98.00 +20.8%
144 VOE VANGUARD INDEX FDS 1.0 $184.0 -1.0 -50.0% $184.00 +3.6%
145 JEF JEFFERIES FINANCIAL GROUP IN Financial Services 3.0 $124.0 -445.0 -99.3% $41.33 +28.1%
146 CLF CLEVELAND-CLIFFS INC NEW Basic Materials 14.0 $118.0 -500.0 -97.3% $8.43 +22.3%
Page 8 of 8  ·  146 positions

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Technology 30.5%
Financial Services 19.7%
Communication Services 10.0%
Healthcare 9.0%
Industrials 9.0%
Consumer Cyclical 7.6%
Energy 4.7%
Consumer Defensive 4.2%
Utilities 2.9%
Basic Materials 1.6%