SEC 13F Intelligence

Managers / Q4 2025 · view latest →

ALERUS FINANCIAL NA

CIK 0000919458 · 401 DEMERS AVE, PO BOX 6001, GRAND FORKS, ND, 58206-6001 · 7017953200

Reported Value
$2.0B
Q4 2025
Positions
513
Filings on Record
30
2019–present window
Filed
Feb 13, 2026
original filing

Summary

Alerus Financial Na reported $2.0B in U.S.-listed holdings across 513 positions for Q4 2025.

The portfolio is heavily concentrated: Vanguard Index Fds alone accounts for 23.1% of reported value.

Compared with Q3 2025, the fund opened 17 new positions and exited 42.

Portfolio Metrics

Turnover
+5.9%
vs prior filed quarter
Top-10 Concentration
+60.9%
share of reported value
Largest Position
+23.1%
Vanguard Index Fds
New / Exited
17 / 42
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $652MQ4 ’18Q1 ’19: $718MQ2 ’19: $741MQ3 ’19: $773MQ4 ’19: $878MQ4 ’19Q1 ’20: $723MQ2 ’20: $850MQ3 ’20: $888MQ4 ’20: $984MQ4 ’20Q1 ’21: $949MQ2 ’21: $992MQ3 ’21: $1.1BQ4 ’21: $1.2BQ4 ’21Q1 ’22: $1.2BQ2 ’22: $1.1BQ3 ’22: $1.0BQ4 ’22: $1.1BQ4 ’22Q1 ’23: $1.1BQ2 ’23: $1.2BQ3 ’23: $1.1BQ4 ’23: $1.2BQ4 ’23Q1 ’24: $1.3BQ2 ’24: $1.3BQ3 ’24: $1.4BQ4 ’24: $1.3BQ4 ’24Q1 ’25: $1.2BQ2 ’25: $1.4BQ3 ’25: $2.0BQ4 ’25: $2.0BQ4 ’25Q1 ’26: $2.0Bfilingsflow.com

Portfolio Composition

By security type
ETP: 55.0%Common Stock: 43.0%Other: 1.4%REIT: 0.4%ADR: 0.1%Other: 0.0%
  • ETP · 55.0% · $1.1B
  • Common Stock · 43.0% · $880M
  • Other · 1.4% · $29M
  • REIT · 0.4% · $8M
  • ADR · 0.1% · $3M
  • Other · 0.0% · $207,509

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
VANGUARD SCOTTSDALE FDSNEW+253.5K253.5K+$20M$20M
SMGSCOTTS MIRACLE-GRO CONEW+63.8K63.8K+$4M$4M
VANGUARD INDEX FDSNEW+1.6K1.6K+$329,364$329,364
VANGUARD STAR FDSNEW+4.0K4.0K+$298,667$298,667
VNOMVIPER ENERGY INCNEW+500500+$19,315$19,315
HIPOHIPPO HLDGS INCNEW+500500+$15,040$15,040
INVESCO EXCHANGE TRADED FD TNEW+7575+$4,446$4,446
GOLDMAN SACHS ETF TRNEW+2323+$3,045$3,045

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2025

46 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1VANGUARD INDEX FDSS&P 500 ETF SHS23.09%$472M752.7K
2DFAXDIMENSIONAL ETF TRUSThistory →WORLD EX US CORE13.50%$276M8.43M
3ISHARES TRRUS MID CAP ETF · CORE MSCI TOTAL · 20 YR TR BD ETF8.73%$179M1.97M
4VANGUARD MALVERN FDSCORE BD ETF3.57%$73M936.9K
5VANGUARD SCOTTSDALE FDSLG-TERM COR BD · SHRT TRM CORP BD · VNG RUS2000IDX3.25%$66M810.5K
6NVDANVIDIA CORPORATIONhistory →COM3.10%$63M339.3K
7MSFTMICROSOFT CORPhistory →COM2.49%$51M105.4K
8AAPLAPPLE INChistory →COM2.48%$51M186.4K
9ALRSALERUS FINL CORPhistory →COM2.36%$48M2.14M
10AVGOBROADCOM INChistory →COM2.04%$42M120.6K
11GOOGLALPHABET INChistory →CAP STK CL A1.85%$38M120.6K
12AMZNAMAZON COM INChistory →COM1.37%$28M121.6K
13JPMJPMORGAN CHASE & CO.history →COM1.06%$22M67.5K
14LLYELI LILLY & COhistory →COM1.04%$21M19.7K
15TSLATESLA INChistory →COM1.03%$21M47.0K
16METAMETA PLATFORMS INChistory →CL A0.87%$18M26.9K
17EXMOCEXXON MOBIL CORPhistory →COM0.69%$14M117.5K
18IBMINTERNATIONAL BUSINESS MACHShistory →COM0.65%$13M45.1K
19AAAUGOLDMAN SACHS PHYSICAL GOLDhistory →UNIT0.64%$13M306.5K
20SOSOUTHERN COhistory →COM0.63%$13M148.1K
21HPEHEWLETT PACKARD ENTERPRISE Chistory →COM0.60%$12M508.4K
22JNJJOHNSON & JOHNSONhistory →COM0.58%$12M57.1K
23EATON CORP PLCSHS0.56%$11M35.9K
24BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW0.54%$11M22.1K
25GE AEROSPACECOM NEW0.52%$11M34.2K
26CSCOCISCO SYS INChistory →COM0.51%$10M136.2K
27UNHUNITEDHEALTH GROUP INChistory →COM0.51%$10M31.6K
28WMTWALMART INCCOM0.49%$10M89.1K
29TTWOTAKE-TWO INTERACTIVE SOFTWARCOM0.47%$10M37.9K
30ABBVABBVIE INCCOM0.44%$9M39.7K
31PHPARKER-HANNIFIN CORPCOM0.44%$9M10.3K
32ABGCENCORA INCCOM0.44%$9M26.7K
33BACVERIZON COMMUNICATIONS INCCOM0.44%$9M218.4K
34WFCWELLS FARGO CO NEWCOM0.42%$9M91.4K
35TFCTRUIST FINL CORPCOM0.42%$8M172.6K
36CDNSCADENCE DESIGN SYSTEM INCCOM0.42%$8M27.2K
37MUMICRON TECHNOLOGY INCCOM0.41%$8M29.2K
38BSXBOSTON SCIENTIFIC CORPCOM0.39%$8M84.3K
39TAT&T INCCOM0.39%$8M322.1K
40NFLXNETFLIX INCCOM0.36%$7M78.6K
41ISRGINTUITIVE SURGICAL INCCOM NEW0.36%$7M12.9K
42PRUPRUDENTIAL FINL INCCOM0.35%$7M63.9K
43SHOPSHOPIFY INCCL A SUB VTG SHS0.35%$7M44.6K
44MMM3M COCOM0.35%$7M44.6K
45HEIHEICO CORP NEWCOM0.35%$7M21.9K
46VRTVERTIV HOLDINGS COCOM CL A0.35%$7M43.6K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$2.0B515May 12, 202613F-HRchanges · EDGAR ↗
Q4 2025$2.0B513Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$2.0B539Nov 10, 202513F-HRchanges · EDGAR ↗
Q2 2025$1.4B511Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$1.2B161May 13, 202513F-HRchanges · EDGAR ↗
Q4 2024$1.3B158Feb 12, 202513F-HRchanges · EDGAR ↗
Q3 2024$1.4B158Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$1.3B157Aug 8, 202413F-HRchanges · EDGAR ↗
Q1 2024$1.3B162May 13, 202413F-HRchanges · EDGAR ↗
Q4 2023$1.2B152Feb 12, 202413F-HRchanges · EDGAR ↗
Q3 2023$1.1B153Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$1.2B158Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$1.1B164May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$1.1B165Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$1.0B151Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$1.1B165Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$1.2B179May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$1.2B184Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$1.1B182Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$992M191Aug 11, 202113F-HRchanges · EDGAR ↗
Q1 2021$949M185May 13, 202113F-HRchanges · EDGAR ↗
Q4 2020$984M191Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$888M166Nov 13, 202013F-HRchanges · EDGAR ↗
Q2 2020$850M158Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$723M152May 12, 202013F-HRchanges · EDGAR ↗
Q4 2019$878M157Feb 11, 202013F-HRchanges · EDGAR ↗
Q3 2019$773M148Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$741M149Aug 13, 201913F-HRchanges · EDGAR ↗
Q1 2019$718M150May 6, 201913F-HRchanges · EDGAR ↗
Q4 2018$652M135Feb 4, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.