Vault-13

ALERUS FINL CORP ALRS

COM · Common Stock · CUSIP 01446U103

161 institutional holders +12 vs Q1 2026
16,139,41916.1m shares reported held*
64.8% of all shares outstanding*
$500.2mreported value*
26 new 64 added 39 reduced 12 sold out net bought ≈ $15.3m (+497.7k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($3.7m this quarter). Holder counts are more reliable. Shares outstanding: 24.9m as of 2026-07-30, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $30.99. Options: 1 managers hold calls ($267.5k notional), 0 hold puts (—).

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 78Q4 22: 79Q1 23: 68Q2 23: 68Q3 23: 72Q4 23: 80Q1 24: 89Q2 24: 94Q3 24: 102Q4 24: 111Q1 25: 114Q2 25: 127Q3 25: 136Q4 25: 142Q1 26: 149Q2 26: 161161Q3 22Q3 23Q3 24Q3 25Q2 26
Numbers
QuarterHolders
Q3 202278
Q4 202279
Q1 202368
Q2 202368
Q3 202372
Q4 202380
Q1 202489
Q2 202494
Q3 2024102
Q4 2024111
Q1 2025114
Q2 2025127
Q3 2025136
Q4 2025142
Q1 2026149
Q2 2026161

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q3 24: 47 bought or addedQ3 24: 31 cut or sold outQ4 24: 74 bought or addedQ4 24: 33 cut or sold outQ4 24Q1 25: 56 bought or addedQ1 25: 47 cut or sold outQ2 25: 71 bought or addedQ2 25: 47 cut or sold outQ2 25Q3 25: 78 bought or addedQ3 25: 42 cut or sold outQ4 25: 83 bought or addedQ4 25: 40 cut or sold outQ4 25Q1 26: 65 bought or addedQ1 26: 58 cut or sold outQ2 26: 90 bought or addedQ2 26: 51 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20244731
Q4 20247433
Q1 20255647
Q2 20257147
Q3 20257842
Q4 20258340
Q1 20266558
Q2 20269051

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$100k$200k$300kQ3 25 calls: $13.0kQ3 25 puts: $0Q3 25P/C 0.00Q4 25 calls: $0Q4 25 puts: $0Q4 25P/C —Q1 26 calls: $0Q1 26 puts: $0Q1 26P/C —Q2 26 calls: $267.5kQ2 26 puts: $0Q2 26P/C 0.00
Numbers
QuarterCallsPutsP/C
Q3 2025$13.0k$00.00
Q4 2025$0$0—
Q1 2026$0$0—
Q2 2026$267.5k$00.00

Biggest buyers

ProShare Advisors LLC New +226,312+226.3k
GOLDMAN SACHS GROUP INC Added +158,794+158.8k
MAIRS & POWER INC Added +123,981+124.0k
Phocas Financial Corp. Added +93,259+93.3k
Qube Research & Technologies Ltd Added +73,492+73.5k
STATE STREET CORP Added +68,087+68.1k
BlackRock, Inc. Added +61,491+61.5k
DIMENSIONAL FUND ADVISORS LP Added +56,630+56.6k
TWO SIGMA INVESTMENTS, LP Added +47,085+47.1k
Stieven Capital Advisors, L.P. Added +43,110+43.1k

Biggest sellers

WELLINGTON MANAGEMENT GROUP LLP Sold out -242,021-242.0k
ENDEAVOUR CAPITAL ADVISORS INC Reduced -222,711-222.7k
ALERUS FINANCIAL NA Reduced -125,568-125.6k
AMERIPRISE FINANCIAL INC Reduced -73,030-73.0k
MILLENNIUM MANAGEMENT LLC Reduced -69,426-69.4k
RENAISSANCE TECHNOLOGIES LLC Reduced -56,045-56.0k
CARRET ASSET MANAGEMENT, LLC Sold out -37,000-37.0k
MORGAN STANLEY Reduced -35,557-35.6k
AMERICAN CENTURY COMPANIES INC Reduced -32,435-32.4k
JANE STREET GROUP, LLC Sold out -31,261-31.3k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP New $267.5k8.6k shares

Biggest puts

None

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
BlackRock, Inc. 13G · institution filed 2025-02-05 7.3% 1.8m≈ $57.3m 2025-02-05

Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26)

Insider purchases and sales since 1 Apr 2026

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
101Q4 24: 1 buyingQ4 24: 0 sellingQ1 25: 0 buyingQ1 25: 0 sellingQ1 25Q2 25: 1 buyingQ2 25: 0 sellingQ3 25: 1 buyingQ3 25: 0 sellingQ3 25Q4 25: 0 buyingQ4 25: 0 sellingQ1 26: 0 buyingQ1 26: 0 sellingQ1 26Q2 26: 1 buyingQ2 26: 0 sellingQ3 26: 1 buyingQ3 26: 1 sellingQ3 26
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q4 20241$20.3k0——
Q1 20250—0——
Q2 20251$99.7k0——
Q3 20251$49.8k0——
Q4 20250—0——
Q1 20260—0——
Q2 20261$28.7k0——
Q3 20261$32.5k1$19.8k—
DateInsiderTradeSharesPrice ValueTheir holding
2026-09-14 Koob Kari SVP, Controller Sold 597 $33.13 $19.8k597 shares -54%
2026-09-01 Bolton Jeffrey Director Bought 1,000 $32.45 $32.5k1.0k shares +7%
2026-05-27 Bolton Jeffrey Director Bought 1,000 $28.72 $28.7k1.0k shares +8%

Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ALERUS FINANCIAL NA 2.88% of their portfolio GRAND FORKS, ND 2,116,1732.1m $65.8m $65.8m 2.88% Reduced -125.6k -125,568
2 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,822,2421.8m $56.7m $56.7m 0.00% Added +61.5k +61,491
3 VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio MALVERN, PA 945,852945.9k $29.4m $29.4m 0.00% Reduced -15.9k -15,924
4 DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio AUSTIN, TX 943,445943.4k $29.3m $29.3m 0.01% Added +56.6k +56,630
5 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 655,184655.2k $20.4m $20.4m 0.00% Added +37.5k +37,508
6 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 561,249561.2k $17.6m $17.6m 0.00% Added +68.1k +68,087
7 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 525,321525.3k $16.3m $16.3m 0.00% Added +158.8k +158,794
8 M3F, Inc. 3.07% of their portfolio SALT LAKE CITY, UT 417,108417.1k $13.0m $13.0m 3.07% Unchanged
9 Stieven Capital Advisors, L.P. 2.27% of their portfolio ST. LOUIS, MO 382,034382.0k $11.9m $11.9m 2.27% Added +43.1k +43,110
10 Phocas Financial Corp. 1.53% of their portfolio ALAMEDA, CA 354,155354.2k $11.0m $11.0m 1.53% Added +93.3k +93,259
11 BANC FUNDS CO LLC 1.79% of their portfolio CHICAGO, IL 349,165349.2k $10.9m $10.9m 1.79% Unchanged
12 ENDEAVOUR CAPITAL ADVISORS INC 2.17% of their portfolio GREENWICH, CT 339,518339.5k $10.6m $10.6m 2.17% Reduced -222.7k -222,711
13 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 310,910310.9k $9.7m $9.7m 0.00% Reduced -73.0k -73,030
14 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 296,688296.7k $9.2m $9.2m 0.00% Added +27.5k +27,523
15 CHOREO, LLC 0.10% of their portfolio ROCKFORD, IL 293,265293.3k $9.1m $9.1m 0.10% Reduced -416 -416
16 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 277,688277.7k $8.6m $8.6m 0.00% Reduced -32.4k -32,435
17 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 248,961249.0k $5.9m $5.9m 0.00% Added +6.3k +6,280
18 CSM Advisors, LLC 0.16% of their portfolio WARRENDALE, PA 239,320239.3k $7.4m $7.4m 0.16% Added +38.4k +38,385
19 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 237,432237.4k $7.4m $7.4m 0.00% Reduced -35.6k -35,557
20 GENDELL JEFFREY L 0.07% of their portfolio Greenwich, CT 233,700233.7k $7.3m $7.3m 0.07% Unchanged
21 GRACE & WHITE INC /NY 1.12% of their portfolio NY, NY 228,108228.1k $7.1m $7.1m 1.12% Unchanged
22 ProShare Advisors LLC 0.01% of their portfolio BETHESDA, MD 226,312226.3k $7.0m $7.0m 0.01% New
23 VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio MALVERN, PA 209,780209.8k $6.5m $6.5m 0.00% Added +33.8k +33,849
24 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 205,180205.2k $6.4m $6.4m 0.00% Added +10.7k +10,716
25 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 205,093205.1k $6.4m $6.4m 0.00% Reduced -231 -231
26 MAIRS & POWER INC 0.06% of their portfolio St Paul, MN 203,417203.4k $6.3m $6.3m 0.06% Added +124.0k +123,981
27 Qube Research & Technologies Ltd 0.01% of their portfolio LONDON, X0 164,333164.3k $5.1m $5.1m 0.01% Added +73.5k +73,492
28 VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio MALVERN, PA 162,591162.6k $5.1m $5.1m 0.00% Added +5.3k +5,269
29 FEDERATED HERMES, INC. 0.01% of their portfolio PITTSBURGH, PA 139,416139.4k $4.3m $4.3m 0.01% Added +41.4k +41,351
30 GABELLI FUNDS LLC 0.03% of their portfolio Rye, NY 134,737134.7k $4.2m $4.2m 0.03% Unchanged
31 Cutler Capital Management, LLC 1.09% of their portfolio WORCESTER, MA 134,400134.4k $4.2m $4.2m 1.09% Reduced -2.1k -2,070
32 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 124,414124.4k $3.9m $3.9m 0.00% Added +6.7k +6,661
33 Quantinno Capital Management LP 0.00% of their portfolio NEW YORK, NY 124,348124.3k $3.9m $3.9m 0.00% Added +32.1k +32,096
34 Sippican Capital Advisors 2.12% of their portfolio BOSTON, MA 111,891111.9k $3.5m $3.5m 2.12% Reduced -1.2k -1,250
35 BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.06% of their portfolio HOUSTON, TX 108,916108.9k $3.4m $3.4m 0.06% Added +16.9k +16,887
36 Empowered Funds, LLC 0.02% of their portfolio NEWTOWN SQUARE, PA 99,16699.2k $3.1m $3.1m 0.02% Added +16.9k +16,887
37 ACADIAN ASSET MANAGEMENT LLC 0.00% of their portfolio Boston, MA 89,04689.0k $2.8m $2.8m 0.00% Reduced -12.1k -12,139
38 FIRST TRUST ADVISORS LP 0.00% of their portfolio Wheaton, IL 83,96284.0k $2.6m $2.6m 0.00% Added +2.8k +2,754
39 Trexquant Investment LP 0.02% of their portfolio STAMFORD, CT 83,73883.7k $2.6m $2.6m 0.02% Added +32.2k +32,210
40 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 82,30082.3k $2.6m $2.6m 0.00% Added +47.1k +47,085
41 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 74,55974.6k $2.3m $2.3m 0.00% Added +22.3k +22,345
42 LOS ANGELES CAPITAL MANAGEMENT LLC 0.01% of their portfolio LOS ANGELES, CA 71,18771.2k $2.2m $2.2m 0.01% Reduced -4.4k -4,430
43 FORTRESS FINANCIAL GROUP, LLC 1.03% of their portfolio ROCHESTER, MN 66,34466.3k $2.1m $2.1m 1.03% Added +28 +28
44 XTX Topco Ltd 0.02% of their portfolio LONDON, X0 60,90760.9k $1.9m $1.9m 0.02% Added +17.3k +17,308
45 BASSWOOD CAPITAL MANAGEMENT, L.L.C. 0.08% of their portfolio NEW YORK, NY 60,24060.2k $1.9m $1.9m 0.08% Unchanged
46 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 55,49055.5k $1.7m $1.7m 0.00% Reduced -8.0k -7,964
47 Gator Capital Management, LLC 0.36% of their portfolio TAMPA, FL 54,42054.4k $1.7m $1.7m 0.36% Reduced -13.5k -13,540
48 Wealth Forward, LLC 0.78% of their portfolio FARGO, ND 50,27950.3k $1.6m $1.6m 0.78% Unchanged
49 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 49,41949.4k $1.5m $1.5m 0.00% Reduced -3.4k -3,439
50 Pinnacle Holdings, LLC 0.47% of their portfolio TULSA, OK 49,14949.1k $1.5m $1.5m 0.47% Added +150 +150
51 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 48,81448.8k $1.5m $1.5m 0.00% Added +16.9k +16,917
52 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 44,50944.5k $1.4m $1.4m 0.00% Added +5.1k +5,113
53 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 42,24142.2k $1.3m $1.3m 0.00% Reduced -56.0k -56,045
54 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 41,11141.1k $1.3m $1.3m 0.00% Added +40.5k +40,511
55 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 39,43739.4k $1.2m $1.2m 0.00% Added +6.8k +6,781
56 IEQ CAPITAL, LLC 0.01% of their portfolio Foster City, CA 39,22539.2k $1.2m $1.2m 0.01% Reduced -175 -175
57 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 37,56037.6k $1.2m $1.2m 0.00% Reduced -69.4k -69,426
58 PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio DES MOINES, IA 32,03632.0k $996.3k $996.3k 0.00% Added +2.1k +2,052
59 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 31,83931.8k $990.2k $990.2k 0.00% Added +3.1k +3,106
60 Mariner, LLC 0.00% of their portfolio Overland Park, KS 31,45931.5k $978.4k $978.4k 0.00% Reduced -1.9k -1,936
61 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 30,41230.4k $945.8k $945.8k 0.00% Added +541 +541
62 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 28,71328.7k $892.2k $892.2k 0.00% Added +23.8k +23,837
63 SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.02% of their portfolio BALA CYNWYD, PA 28,37728.4k $882.5k $882.5k 0.02% Added +6.6k +6,608
64 GSA CAPITAL PARTNERS LLP 0.05% of their portfolio LONDON, X0 27,95528.0k $869.0k $869.0k 0.05% Reduced -18.9k -18,946
65 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 27,85627.9k $866.3k $866.3k 0.00% Added +1.3k +1,348
66 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 26,21126.2k $815.2k $815.2k 0.00% New
67 STRS OHIO 0.00% of their portfolio COLUMBUS, OH 24,90024.9k $774.4k $774.4k 0.00% New
68 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 23,42023.4k $728.4k $728.4k 0.00% Added +4.6k +4,621
69 Johnson Wealth Management, LLC 0.30% of their portfolio GRAND FORKS, ND 23,00623.0k $715.5k $715.5k 0.30% Reduced -5.2k -5,180
70 GAMCO INVESTORS, INC. ET AL 0.01% of their portfolio GREENWICH, CT 22,67122.7k $705.1k $705.1k 0.01% Added +2.8k +2,835
71 Inspire Investing, LLC 0.03% of their portfolio MERIDIAN, ID 21,98522.0k $683.7k $683.7k 0.03% Added +308 +308
72 Lafayette Investments, Inc. 0.13% of their portfolio ASHTON, MD 21,90021.9k $681.1k $681.1k 0.13% Unchanged
73 FMR LLC 0.00% of their portfolio BOSTON, MA 21,76821.8k $677.0k $677.0k 0.00% Added +13.3k +13,296
74 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 20,49320.5k $637.3k $637.3k 0.00% Added +10.1k +10,109
75 LSV ASSET MANAGEMENT 0.00% of their portfolio CHICAGO, IL 20,00020.0k $622.0k $622.0k 0.00% Unchanged
76 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 19,81519.8k $617.0k $617.0k 0.00% Added +3.5k +3,533
77 STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio MADISON, WI 19,34219.3k $601.5k $601.5k 0.00% Reduced -1.2k -1,235
78 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 18,97319.0k $590.0k $590.0k 0.00% Reduced -2.2k -2,191
79 CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio TORONTO ONTARIO, A6 18,80018.8k $584.7k $584.7k 0.00% Unchanged
80 Odyssean, LLC 0.09% of their portfolio DARIEN, CT 18,78118.8k $584.1k $584.1k 0.09% New
81 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 18,17418.2k $565.2k $565.2k 0.00% Added +2.6k +2,597
82 Connor, Clark & Lunn Investment Management Ltd. 0.00% of their portfolio VANCOUVER, A1 17,93317.9k $557.7k $557.7k 0.00% New
83 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 16,61516.6k $520.4k $520.4k 0.00% Added +2.9k +2,869
84 Aquatic Capital Management LLC 0.02% of their portfolio CHICAGO, IL 16,56416.6k $515.1k $515.1k 0.02% New
85 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 13,73913.7k $427.3k $427.3k 0.00% Added +869 +869
86 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 13,45713.5k $418.5k $418.5k 0.00% New
87 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 13,30313.3k $413.0k $413.0k 0.00% New
88 Aviance Capital Partners, LLC 0.04% of their portfolio NAPLES, FL 13,11113.1k $407.7k $407.7k 0.04% Unchanged
89 First PREMIER Bank 0.06% of their portfolio SIOUX FALLS, SD 12,67012.7k $394.0k $394.0k 0.06% Reduced -4.4k -4,366
90 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 12,05312.1k $374.8k $374.8k 0.00% Added +3.4k +3,397
91 Columbia River Financial Group, LLC 0.19% of their portfolio VANCOUVER, WA 11,23911.2k $352.0k $352.0k 0.19% Unchanged
92 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio CAUSEWAY BAY, K3 11,04811.0k $343.6k $343.6k 0.00% Added +15 +15
93 Tower Research Capital LLC (TRC) 0.01% of their portfolio NEW YORK, NY 10,67410.7k $332.0k $332.0k 0.01% Added +8.1k +8,089
94 Vanguard Global Advisers, LLC 0.00% of their portfolio MALVERN, PA 10,24710.2k $318.7k $318.7k 0.00% Unchanged
95 Harbor Advisors LLC 0.04% of their portfolio West Palm Beach, FL 9,8679.9k $306.9k $306.9k 0.04% Unchanged
96 Hanson & Doremus Investment Management 0.03% of their portfolio BURLINGTON, VT 9,5849.6k $298.0k $298.0k 0.03% Reduced -260 -260
97 MARTINGALE ASSET MANAGEMENT L P 0.01% of their portfolio BOSTON, MA 8,4008.4k $261.2k $261.2k 0.01% Reduced -14.8k -14,800
98 PFG Advisors 0.01% of their portfolio Phoenix, AZ 7,9487.9k $247.2k $247.2k 0.01% New
99 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 7,9377.9k $246.8k $246.8k 0.00% New
100 Tradition Wealth Management, LLC 0.02% of their portfolio EDINA, MN 7,9127.9k $246.1k $246.1k 0.02% New