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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 20 of 26  ·  510 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
381 MOD MODINE MFG CO Consumer Cyclical 45.0 $10K $216.71 +34.8%
382 LTC LTC PPTYS INC Real Estate 261.0 $10K $37.16 +3.1%
383 WM WASTE MGMT INC DEL Industrials 42.0 $10K $229.79 -4.8%
384 MGK VANGUARD WORLD FD 26.0 $10K $367.42 -75.9%
385 ATO ATMOS ENERGY CORP Utilities 50.0 $9K $184.72 -4.5%
386 IVT INVENTRUST PPTYS CORP Real Estate 300.0 $9K $30.46 +2.8%
387 PLD PROLOGIS INC. Real Estate 69.0 $9K +38.0 +122.6% $132.17 +7.9%
388 DB DEUTSCHE BK AG Financial Services 300.0 $9K $29.78 +6.5%
389 SOLS SOLSTICE ADVANCED MATLS INC Basic Materials 115.0 $9K NEW $76.16 +14.0%
390 DOV DOVER CORP Industrials 42.0 $9K $208.45 +2.8%
391 IGSB ISHARES TR 156.0 $8K $52.56 -0.6%
392 ITW ILLINOIS TOOL WKS INC Industrials 31.0 $8K $260.29 -3.7%
393 SAP SAP SE Technology 45.0 $8K $171.20 -4.1%
394 HTGC HERCULES CAPITAL INC Financial Services 517.0 $8K $14.77 +4.9%
395 AIZ ASSURANT INC Financial Services 35.0 $8K $217.80 +16.9%
396 CTRA COTERRA ENERGY INC Energy 208.0 $7K $35.14 -7.3%
397 THC TENET HEALTHCARE CORP Healthcare 38.0 $7K $188.71 +5.2%
398 DWLD DAVIS FUNDAMENTAL ETF TR 159.0 $7K $43.81 +7.9%
399 PII POLARIS INC Consumer Cyclical 127.0 $7K $54.50 +21.4%
400 FOCT FIRST TR EXCHNG TRADED FD VI 145.0 $7K $47.68 +8.4%
Page 20 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%