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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 21 of 26  ·  510 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
401 VTRS VIATRIS INC Healthcare 509.0 $7K $13.51 +27.7%
402 NVO NOVO-NORDISK A S Healthcare 186.0 $7K $36.75 +24.6%
403 BP BP PLC Energy 144.0 $7K $47.00 -5.6%
404 CMS CMS ENERGY CORP Utilities 84.0 $7K $77.58 -5.6%
405 ZTS ZOETIS INC Healthcare 55.0 $7K -2.0 -3.5% $118.22 -36.2%
406 ELV ELEVANCE HEALTH INC FORMERLY Healthcare 22.0 $6K $292.77 +35.5%
407 XLY SELECT SECTOR SPDR TR 58.0 $6K $108.98 +6.9%
408 IQVIA HLDGS INC 37.0 $6K -19.0 -33.9% $170.54
409 DLTR DOLLAR TREE INC Consumer Defensive 57.0 $6K $109.51 -17.8%
410 PECO PHILLIPS EDISON & CO INC Real Estate 166.0 $6K $37.42 +6.1%
411 RNAC CARTESIAN THERAPEUTICS INC Healthcare 1,000.0 $6K $6.15 +34.5%
412 IEFA ISHARES TR 64.0 $6K -21.0 -24.7% $90.53 +5.2%
413 AMR ALPHA METALLURGICAL RESOUR I Energy 28.0 $6K $205.29 -12.5%
414 IBIT ISHARES BITCOIN TRUST ETF Financial Services 148.0 $6K $38.42 +16.7%
415 XHR XENIA HOTELS & RESORTS INC Real Estate 375.0 $6K $14.83 +10.6%
416 AMT AMERICAN TOWER CORP Real Estate 32.0 $6K -187.0 -85.4% $172.59 -1.1%
417 IYR ISHARES TR 57.0 $5K $94.56 +5.5%
418 M MACYS INC Consumer Cyclical 297.0 $5K $18.09 +1.2%
419 ICLR ICON PLC Healthcare 48.0 $5K $110.67 +5.8%
420 ANNALY CAPITAL MANAGEMENT IN 250.0 $5K $21.15
Page 21 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%