Who owns Alerus Financial (ALRS)
Which tracked institutional funds hold ALRS, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See ALRS company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-09-22). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on ALRS is one-sided between 2026-Q1 and 2026-Q2: 61 added or opened and 16 trimmed or exited — on balance accumulating.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
ALRS’s largest tracked holder by dollar value, ALERUS FINANCIAL NA, sizes it at 2.9% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 2.9pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in ALRS divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 148 tracked filers holding ALRS, 87 increased or opened the position and 61 reduced or closed it; over the same quarter, open-market insider Form 4s were net purchases.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in ALRS between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 6
- ProShare Advisors LLC$7M
- CITADEL ADVISORS LLC$815K
- STRS OHIO$774K
- Odyssean, LLC$584K
- Connor, Clark & Lunn Investment Management Ltd.$558K
- Aquatic Capital Management LLC$515K
Full exits 9
- M3F, Inc.$10M
- CSM Advisors, LLC$5M
- WELLINGTON MANAGEMENT GROUP LLP$5M
- ACADIAN ASSET MANAGEMENT LLC$2M
- CWM, LLC$2M
- GSA CAPITAL PARTNERS LLP$1M
Largest adds
- BlackRock, Inc.$15M
- ALERUS FINANCIAL NA$13M
- DIMENSIONAL FUND ADVISORS LP$8M
- GOLDMAN SACHS GROUP INC$8M
- VANGUARD CAPITAL MANAGEMENT LLC$7M
- STATE STREET CORP$6M
Largest trims
- ENDEAVOUR CAPITAL ADVISORS INC$3M
- FORTRESS FINANCIAL GROUP, LLC$2M
- MILLENNIUM MANAGEMENT LLC$1M
- RENAISSANCE TECHNOLOGIES LLC$1M
- BARCLAYS PLC$353K
- BNP PARIBAS FINANCIAL MARKETS$318K
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| ALERUS FINANCIAL NA trimmed | 2,116,173 | $66M | 13.9% | 2026-Q2 |
| BlackRock, Inc. added | 1,822,242 | $57M | 11.9% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC trimmed | 945,852 | $29M | 6.2% | 2026-Q2 |
| DIMENSIONAL FUND ADVISORS LP added | 943,445 | $29M | 6.2% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC added | 655,184 | $20M | 4.3% | 2026-Q2 |
| STATE STREET CORP added | 561,249 | $18M | 3.7% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC added | 525,321 | $16M | 3.4% | 2026-Q2 |
| Stieven Capital Advisors, L.P. added | 382,034 | $12M | 2.5% | 2026-Q2 |
| Phocas Financial Corp. added | 354,155 | $11M | 2.3% | 2026-Q2 |
| BANC FUNDS CO LLC | 349,165 | $11M | 2.3% | 2026-Q2 |
| ENDEAVOUR CAPITAL ADVISORS INC trimmed | 339,518 | $11M | 2.2% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC trimmed | 310,910 | $10M | 2.0% | 2026-Q2 |
| AQR CAPITAL MANAGEMENT LLC added | 296,688 | $9M | 1.9% | 2026-Q2 |
| CHOREO, LLC trimmed | 293,265 | $9M | 1.9% | 2026-Q2 |
| AMERICAN CENTURY COMPANIES INC trimmed | 277,688 | $9M | 1.8% | 2026-Q2 |
| ALLIANCEBERNSTEIN L.P. added | 248,961 | $6M | 1.2% | 2026-Q2 |
| MORGAN STANLEY trimmed | 237,432 | $7M | 1.6% | 2026-Q2 |
| GENDELL JEFFREY L | 233,700 | $7M | 1.5% | 2026-Q2 |
| GRACE & WHITE INC /NY | 228,108 | $7M | 1.5% | 2026-Q2 |
| ProShare Advisors LLC new | 226,312 | $7M | 1.5% | 2026-Q2 |
| VANGUARD PORTFOLIO MANAGEMENT LLC added | 209,780 | $7M | 1.4% | 2026-Q2 |
| NORTHERN TRUST CORP added | 205,180 | $6M | 1.3% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC trimmed | 205,093 | $6M | 1.3% | 2026-Q2 |
| MAIRS & POWER INC added | 203,417 | $6M | 1.3% | 2026-Q2 |
| Qube Research & Technologies Ltd added | 164,333 | $5M | 1.1% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO added | 162,591 | $5M | 1.1% | 2026-Q2 |
| FEDERATED HERMES, INC. added | 139,416 | $4M | 0.9% | 2026-Q2 |
| GABELLI FUNDS LLC | 134,737 | $4M | 0.9% | 2026-Q2 |
| Cutler Capital Management, LLC trimmed | 134,400 | $4M | 0.9% | 2026-Q2 |
| Bank of New York Mellon Corp added | 124,414 | $4M | 0.8% | 2026-Q2 |
| Quantinno Capital Management LP added | 124,348 | $4M | 0.8% | 2026-Q2 |
| Sippican Capital Advisors trimmed | 111,891 | $3M | 0.7% | 2026-Q2 |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC added | 108,916 | $3M | 0.7% | 2026-Q2 |
| Empowered Funds, LLC added | 99,166 | $3M | 0.6% | 2026-Q2 |
| FIRST TRUST ADVISORS LP added | 83,962 | $3M | 0.6% | 2026-Q2 |
| Trexquant Investment LP added | 83,738 | $3M | 0.5% | 2026-Q2 |
| TWO SIGMA INVESTMENTS, LP added | 82,300 | $3M | 0.5% | 2026-Q2 |
| NEW YORK STATE COMMON RETIREMENT FUND added | 74,559 | $2M | 0.5% | 2026-Q2 |
| LOS ANGELES CAPITAL MANAGEMENT LLC trimmed | 71,187 | $2M | 0.5% | 2026-Q2 |
| XTX Topco Ltd added | 60,907 | $2M | 0.4% | 2026-Q2 |
| BASSWOOD CAPITAL MANAGEMENT, L.L.C. | 60,240 | $2M | 0.4% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 55,490 | $2M | 0.4% | 2026-Q2 |
| Gator Capital Management, LLC trimmed | 54,420 | $2M | 0.4% | 2026-Q2 |
| Wealth Forward, LLC | 50,279 | $2M | 0.3% | 2026-Q2 |
| Squarepoint Ops LLC trimmed | 49,419 | $2M | 0.3% | 2026-Q2 |
| Pinnacle Holdings, LLC added | 49,149 | $2M | 0.3% | 2026-Q2 |
| CITIGROUP INC added | 48,814 | $2M | 0.3% | 2026-Q2 |
| Nuveen, LLC added | 44,509 | $1M | 0.3% | 2026-Q2 |
| RENAISSANCE TECHNOLOGIES LLC trimmed | 42,241 | $1M | 0.3% | 2026-Q2 |
| JONES FINANCIAL COMPANIES LLLP added | 41,111 | $1M | 0.3% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ added | 39,437 | $1M | 0.3% | 2026-Q2 |
| IEQ CAPITAL, LLC trimmed | 39,225 | $1M | 0.3% | 2026-Q2 |
| MILLENNIUM MANAGEMENT LLC trimmed | 37,560 | $1M | 0.2% | 2026-Q2 |
| PRINCIPAL FINANCIAL GROUP INC added | 32,036 | $996K | 0.2% | 2026-Q2 |
| RHUMBLINE ADVISERS added | 31,839 | $990K | 0.2% | 2026-Q2 |
| Mariner, LLC trimmed | 31,459 | $978K | 0.2% | 2026-Q2 |
| Invesco Ltd. added | 30,412 | $946K | 0.2% | 2026-Q2 |
| Russell Investments Group, Ltd. added | 28,713 | $892K | 0.2% | 2026-Q2 |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC added | 28,377 | $883K | 0.2% | 2026-Q2 |
| Creative Planning added | 27,856 | $866K | 0.2% | 2026-Q2 |
| CITADEL ADVISORS LLC added | 26,211 | $815K | 0.2% | 2026-Q2 |
| STRS OHIO new | 24,900 | $774K | 0.2% | 2026-Q2 |
| DEUTSCHE BANK AG\ added | 23,420 | $728K | 0.2% | 2026-Q2 |
| Johnson Wealth Management, LLC trimmed | 23,006 | $716K | 0.2% | 2026-Q2 |
| GAMCO INVESTORS, INC. ET AL added | 22,671 | $705K | 0.1% | 2026-Q2 |
| Inspire Investing, LLC added | 21,985 | $684K | 0.1% | 2026-Q2 |
| Lafayette Investments, Inc. | 21,900 | $681K | 0.1% | 2026-Q2 |
| FMR LLC added | 21,768 | $677K | 0.1% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN added | 20,493 | $637K | 0.1% | 2026-Q2 |
| PRICE T ROWE ASSOCIATES INC /MD/ added | 19,815 | $617K | 0.1% | 2026-Q2 |
| STATE OF WISCONSIN INVESTMENT BOARD trimmed | 19,342 | $602K | 0.1% | 2026-Q2 |
| Cetera Investment Advisers trimmed | 18,973 | $590K | 0.1% | 2026-Q2 |
| CANADA PENSION PLAN INVESTMENT BOARD | 18,800 | $585K | 0.1% | 2026-Q2 |
| Odyssean, LLC new | 18,781 | $584K | 0.1% | 2026-Q2 |
| MERCER GLOBAL ADVISORS INC /ADV added | 18,174 | $565K | 0.1% | 2026-Q2 |
| Connor, Clark & Lunn Investment Management Ltd. added | 17,933 | $558K | 0.1% | 2026-Q2 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC added | 16,615 | $520K | 0.1% | 2026-Q2 |
| Aquatic Capital Management LLC added | 16,564 | $515K | 0.1% | 2026-Q2 |
| MetLife Investment Management, LLC added | 13,739 | $427K | 0.1% | 2026-Q2 |
| MARSHALL WACE, LLP trimmed | 13,457 | $419K | 0.1% | 2026-Q2 |
| Aviance Capital Partners, LLC | 13,111 | $408K | 0.1% | 2026-Q2 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 12,053 | $375K | 0.1% | 2026-Q2 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. added | 11,048 | $344K | 0.1% | 2026-Q2 |
| Tower Research Capital LLC (TRC) added | 10,674 | $332K | 0.1% | 2026-Q2 |
| Vanguard Global Advisers, LLC | 10,247 | $319K | 0.1% | 2026-Q2 |
| Harbor Advisors LLC | 9,867 | $307K | 0.1% | 2026-Q2 |
| MARTINGALE ASSET MANAGEMENT L P trimmed | 8,400 | $261K | 0.1% | 2026-Q2 |
| PFG Advisors new | 7,948 | $247K | 0.1% | 2026-Q2 |
| MML INVESTORS SERVICES, LLC new | 7,937 | $247K | 0.1% | 2026-Q2 |
| Tradition Wealth Management, LLC new | 7,912 | $246K | 0.1% | 2026-Q2 |
| Arax Advisory Partners added | 7,817 | $243K | 0.1% | 2026-Q2 |
| LPL Financial LLC trimmed | 7,360 | $229K | 0.0% | 2026-Q2 |
| Corient Private Wealth LP new | 7,148 | $223K | 0.0% | 2026-Q2 |
| Police & Firemen's Retirement System of New Jersey | 6,759 | $210K | 0.0% | 2026-Q2 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE new | 6,672 | $207K | 0.0% | 2026-Q2 |
| PRUDENTIAL FINANCIAL INC new | 6,550 | $204K | 0.0% | 2026-Q2 |
| CHIRON CAPITAL MANAGEMENT, LLC new | 6,432 | $200K | 0.0% | 2026-Q2 |
| UBS Group AG trimmed | 5,263 | $164K | 0.0% | 2026-Q2 |
| MEEDER ASSET MANAGEMENT INC added | 4,579 | $142K | 0.0% | 2026-Q2 |
| BARCLAYS PLC trimmed | 3,707 | $115K | 0.0% | 2026-Q2 |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.