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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 26 of 26  ·  510 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
501 CLF CLEVELAND-CLIFFS INC NEW Basic Materials 14.0 $118.0 -500.0 -97.3% $8.43 +22.3%
502 ANGI ANGI INC Communication Services 14.0 $96.0 $6.86 -27.4%
503 HSBC HSBC HLDGS PLC Financial Services 1.0 $82.0 $82.00 +10.6%
504 SHLD GLOBAL X FDS 1.0 $71.0 $71.00 -12.2%
505 ADNT ADIENT PLC Consumer Cyclical 3.0 $61.0 $20.33 +2.5%
506 PCOR PROCORE TECHNOLOGIES INC Technology 1.0 $57.0 NEW $57.00 -18.3%
507 HYDB ISHARES TR 1.0 $47.0 $47.00 -1.0%
508 HERTZ GLOBAL HLDGS INC 13.0 $29.0 $2.23
509 GAP GAP INC Consumer Cyclical 1.0 $24.0 NEW $24.00 -11.5%
510 AAL AMERICAN AIRLINES GROUP INC Industrials 2.0 $21.0 $10.50 +17.2%
Page 26 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%