ALERUS FINANCIAL NA
Long book
$2.02B
Q1 2026
Positions
510
Top-10 weight
60%
concentration
Last quarter
+13.3%
SPY +14.8%
Turnover
19%
of book per quarter
Strategy in plain words
auto-generated from filingsALERUS FINANCIAL NA is a wealth-management firm allocating client money, running a $2.02B US long book across 510 positions.
The portfolio is concentrated: the top 10 names carry 60% of the portfolio. Turnover is modest: positions are typically held for years. Current anchor positions: VANGUARD S&P 500 ETF, DIMENSIONAL WORLD EX US CORE, ISHARES RUSSELL MID-CAP ETF, VANGUARD CORE BOND ETF, ISHARES CORE INTL STOCK ETF.
Over the last 9 quarters its long book ran on average 0.3pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+3.2%
Q2 2024
+6.7%
Q3 2024
+0.3%
Q4 2024
-2.4%
Q1 2025
+12.6%
Q2 2025
+8.0%
Q3 2025
+3.0%
Q4 2025
-1.8%
Q1 2026
+13.3%
Sector allocation
Technology 37%
Financials 19%
Consumer discretionary 9%
Healthcare 8%
Industrials 8%
Utilities 4%
Energy 4%
Other 3%
Long book by quarter
What does ALERUS FINANCIAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 337.1K | $58.8M | 2.9% | -0.7% |
| ALRS ALERUS FINANCIAL CORP | Financials | 2.2M | $53.2M | 2.6% | -2.1% |
| AAPL APPLE INC | Technology | 186.3K | $47.3M | 2.3% | -0.1% |
| MSFT MICROSOFT CORP | Technology | 105.8K | $39.2M | 1.9% | +0.3% |
| AVGO BROADCOM INC | Technology | 116.7K | $36.1M | 1.8% | -3.3% |
| GOOGL ALPHABET INC-CL A | Technology | 116.5K | $33.5M | 1.7% | -3.4% |
| AMZN AMAZON.COM INC | Consumer discretionary | 121.1K | $25.2M | 1.2% | -0.4% |
| XOM EXXON MOBIL CORP | Energy | 121.9K | $20.7M | 1.0% | +3.8% |
| JPM JPMORGAN CHASE & CO | Financials | 67.4K | $19.8M | 1.0% | -0.2% |
| TSLA TESLA INC | Industrials | 45.2K | $16.8M | 0.8% | -3.8% |
| LLY ELI LILLY & CO | Healthcare | 18.1K | $16.7M | 0.8% | -8.0% |
| META META PLATFORMS INC-CLASS A | Technology | 27.3K | $15.6M | 0.8% | +1.6% |
| JNJ JOHNSON & JOHNSON | Healthcare | 62.5K | $15.3M | 0.8% | +9.4% |
| CSCO CISCO SYSTEMS INC | Technology | 160.2K | $12.4M | 0.6% | +17.6% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 239.5K | $12.0M | 0.6% | +9.7% |
| WMT WALMART INC | Consumer discretionary | 90.5K | $11.2M | 0.6% | +1.6% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 23.1K | $11.1M | 0.5% | +4.6% |
| ETN EATON CORP PLC | Industrials | 30.7K | $11.0M | 0.5% | -14.6% |
| SO SOUTHERN CO/THE | Utilities | 109.9K | $10.6M | 0.5% | -25.8% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 43.2K | $10.5M | 0.5% | -4.4% |
| HPE HEWLETT PACKARD ENTERPRISE | Technology | 420.4K | $10.0M | 0.5% | -17.3% |
| MU MICRON TECHNOLOGY INC | Technology | 28.6K | $9.7M | 0.5% | -2.1% |
| ABBV ABBVIE INC | Healthcare | 44.2K | $9.6M | 0.5% | +11.3% |
| PH PARKER HANNIFIN CORP | Industrials | 10.0K | $8.9M | 0.4% | -2.7% |
| GE GENERAL ELECTRIC | Industrials | 30.6K | $8.7M | 0.4% | -10.6% |
| T AT&T INC | Communications | 296.7K | $8.6M | 0.4% | -7.9% |
| CVX CHEVRON CORP | Energy | 41.2K | $8.5M | 0.4% | +5.5% |
| VRT VERTIV HOLDINGS CO-A | Technology | 33.9K | $8.5M | 0.4% | -22.2% |
| UNH UNITEDHEALTH GROUP INC | Financials | 30.4K | $8.2M | 0.4% | -3.7% |
| NFLX NETFLIX INC | Services media | 81.8K | $7.9M | 0.4% | +4.1% |
| COR CENCORA INC | Consumer discretionary | 24.1K | $7.6M | 0.4% | -9.6% |
| HD HOME DEPOT INC | Consumer discretionary | 21.9K | $7.2M | 0.4% | +17.5% |
| WFC WELLS FARGO & CO | Financials | 88.6K | $7.0M | 0.3% | -3.1% |
| TFC TRUIST FINANCIAL CORP | Financials | 152.3K | $7.0M | 0.3% | -11.8% |
| TTWO TAKE-TWO INTERACTIVE SOFTWRE | Technology | 33.6K | $6.6M | 0.3% | -11.2% |
| MRK MERCK & CO. INC. | Healthcare | 53.2K | $6.4M | 0.3% | +35.0% |
| CDNS CADENCE DESIGN SYS INC | Technology | 22.5K | $6.3M | 0.3% | -17.1% |
| CAT CATERPILLAR INC | Industrials | 8.7K | $6.1M | 0.3% | -11.6% |
| PG PROCTER & GAMBLE CO/THE | Other | 42.4K | $6.1M | 0.3% | +30.2% |
| LNG CHENIERE ENERGY INC | Utilities | 20.7K | $5.9M | 0.3% | -20.9% |
| MA MASTERCARD INC - A | Services media | 10.9K | $5.5M | 0.3% | -1.5% |
| ICE INTERCONTINENTAL EXCHANGE IN | Financials | 33.9K | $5.3M | 0.3% | -13.3% |
| PRU PRUDENTIAL FINANCIAL INC | Financials | 52.8K | $5.2M | 0.3% | -17.4% |
| HEI HEICO CORP | Industrials | 18.7K | $5.1M | 0.3% | -14.5% |
| MMM 3M CO | Healthcare | 35.1K | $5.1M | 0.3% | -21.3% |
| COF CAPITAL ONE FINANCIAL CORP | Financials | 27.9K | $5.1M | 0.3% | -0.3% |
| ISRG INTUITIVE SURGICAL INC | Healthcare | 11.0K | $5.1M | 0.3% | -14.5% |
| LNT ALLIANT ENERGY CORP | Utilities | 68.4K | $4.9M | 0.2% | -26.9% |
| BSX BOSTON SCIENTIFIC CORP | Healthcare | 77.0K | $4.8M | 0.2% | -8.6% |
| SHOP SHOPIFY INC - CLASS A | Technology | 39.3K | $4.7M | 0.2% | -12.1% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 12, 2026 | 515 | $2.02B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 513 | $2.04B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 10, 2025 | 539 | $1.97B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 511 | $1.39B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 13, 2025 | 161 | $1.25B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 12, 2025 | 158 | $1.31B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 158 | $1.36B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 8, 2024 | 157 | $1.34B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 13, 2024 | 162 | $1.32B | canonical | SEC ↗ |