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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 2 of 26  ·  510 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
21 JNJ JOHNSON & JOHNSON Healthcare 62,506.0 $15.3M 0.76% +5K +9.4% $244.44 -5.6%
22 AAAU GOLDMAN SACHS PHYSICAL GOLD Financial Services 306,513.0 $14.2M 0.70% $46.19 -2.9%
23 CSCO CISCO SYS INC Technology 160,198.0 $12.4M 0.61% +24K +17.6% $77.59 +48.9%
24 VZ VERIZON COMMUNICATIONS INC Communication Services 239,532.0 $12.0M 0.59% +21K +9.7% $50.20 -6.3%
25 WMT WALMART INC Consumer Defensive 90,513.0 $11.2M 0.56% +1K +1.6% $124.28 +6.6%
26 BERKSHIRE HATHAWAY INC DEL 23,107.0 $11.1M 0.55% +1K +4.5% $479.20
27 ETN EATON CORP PLC Industrials 30,676.0 $11.0M 0.54% -5K -14.6% $357.67 +14.1%
28 TLT ISHARES TR 124,161.0 $10.8M 0.53% +6K +5.0% $86.69 -3.5%
29 SO SOUTHERN CO Utilities 109,897.0 $10.6M 0.53% -38K -25.8% $96.52 -2.9%
30 IBM INTERNATIONAL BUSINESS MACHS Technology 43,174.0 $10.5M 0.52% -2K -4.4% $242.39 -9.9%
31 HPE HEWLETT PACKARD ENTERPRISE C Technology 420,433.0 $10.0M 0.50% -88K -17.3% $23.81 +43.3%
32 MU MICRON TECHNOLOGY INC Technology 28,573.0 $9.7M 0.48% -624.0 -2.1% $337.84 +129.7%
33 ABBV ABBVIE INC Healthcare 44,234.0 $9.6M 0.48% +5K +11.3% $217.49 -3.3%
34 PH PARKER-HANNIFIN CORP Industrials 9,995.0 $8.9M 0.44% -282.0 -2.7% $895.24 -1.7%
35 GE GE AEROSPACE Industrials 30,563.0 $8.7M 0.43% -4K -10.6% $283.77 +2.7%
36 T AT&T INC Communication Services 296,694.0 $8.6M 0.43% -25K -7.9% $28.99 -14.9%
37 CVX CHEVRON CORPORATION Energy 41,183.0 $8.5M 0.42% +2K +5.5% $206.90 -9.8%
38 VRT VERTIV HOLDINGS CO Industrials 33,946.0 $8.5M 0.42% -10K -22.2% $250.58 +50.1%
39 UNH UNITEDHEALTH GROUP INC Healthcare 30,448.0 $8.2M 0.41% -1K -3.7% $270.59 +47.5%
40 NFLX NETFLIX INC. Communication Services 81,792.0 $7.9M 0.39% +3K +4.1% $96.15 -9.6%
Page 2 of 26  ·  510 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%