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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 23 of 26  ·  510 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
441 OEF ISHARES TR 9.0 $3K $318.11 +16.1%
442 IWO ISHARES TR 9.0 $3K $313.78 +15.4%
443 EL LAUDER ESTEE COS INC Consumer Defensive 37.0 $3K $71.76 +12.6%
444 GCTK GLUCOTRACK INC Healthcare 4,000.0 $3K $0.65 +0.0%
445 RDVY FIRST TR EXCHANGE TRADED FD 37.0 $3K $68.27 +7.9%
446 MKC MCCORMICK & CO INC Consumer Defensive 50.0 $3K -320.0 -86.5% $50.44 -7.8%
447 EMXC ISHARES INC 31.0 $2K +1.0 +3.3% $78.65 +19.0%
448 CHTR CHARTER COMMUNICATIONS INC Communication Services 11.0 $2K $215.91 -35.0%
449 WEN WENDYS CO Consumer Cyclical 324.0 $2K $6.95 +16.7%
450 SPG SIMON PPTY GROUP INC NEW Real Estate 12.0 $2K $186.50 +8.7%
451 AA ALCOA CORP Basic Materials 33.0 $2K $66.33 -5.7%
452 CTVA CORTEVA INC Basic Materials 24.0 $2K $83.71 -0.5%
453 IUSB ISHARES TR 40.0 $2K $46.20 -1.1%
454 IYW ISHARES TR 10.0 $2K $181.40 +31.6%
455 BLD TOPBUILD COR Industrials 5.0 $2K $351.40 +17.6%
456 IEMG ISHARES INC 24.0 $2K -43.0 -64.2% $69.75 +14.0%
457 Z ZILLOW GROUP INC Communication Services 40.0 $2K $41.38 -9.7%
458 KRG KITE REALTY GROUP TRUST Real Estate 62.0 $2K $24.55 +6.8%
459 SNOW SNOWFLAKE INC Technology 10.0 $2K $150.80 -0.0%
460 RYANAIR HOLDINGS PLC 26.0 $2K -41.0 -61.2% $57.81
Page 23 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%