Alerus Financial Corp: which funds bought and sold

Institutions that bought and sold Alerus Financial shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 89 institutions that filed 13F reports for both quarters added to or opened positions in Alerus Financial, and 49 cut or closed them. Together they added a net 499K shares, +3.2% on what they held at the start of the quarter. Active managers and hedge funds on our list were net sellers of 47K shares (−2.1%); index fund managers were net buyers of 430K shares (+9.4%). 27 opened a new position and 11 sold out entirely.

Bought, Q2 2026 89 institutions, 27 of them new holders Sold, Q2 2026 49 institutions, 11 of them sold out

Net change, all compared +499K shares (+3.2%)

Net change, active managers −47K shares (−2.1%), 13 bought, 10 sold

Buyers versus sellers

institutions compared, 168

89 bought 30 49 sold

Active managers and hedge funds 13 bought · 10 sold · −47K

Index fund managers 8 bought · 2 sold · +430K

Other institutions 68 bought · 37 sold · +115K

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Proshare Advisors LLC Index funds	+226K New position	226K	$7M
Goldman Sachs Group Inc	+159K +43.3%	525K	$16.3M
Mairs & Power Inc Active manager	+124K +156.1%	203K	$6.3M
Phocas Financial Corp.	+93K +35.7%	354K	$11M
Qube Research & Technologies Ltd Hedge fund	+73K +80.9%	164K	$5.1M
State Street Corp Index funds	+68K +13.8%	561K	$17.6M
Blackrock, Inc. Index funds	+61K +3.5%	1.8M	$56.7M
Dimensional Fund Advisors LP	+57K +6.4%	943K	$29.3M
Two Sigma Investments, LP Hedge fund	+47K +133.7%	82K	$2.6M
Stieven Capital Advisors, L.P.	+43K +12.7%	382K	$11.9M
Federated Hermes, Inc. Active manager	+41K +42.2%	139K	$4.3M
Jones Financial Companies LLLP	+41K +6751.8%	41K	$1.3M
Csm Advisors, LLC	+38K +19.1%	239K	$7.4M
Geode Capital Management, LLC Index funds	+38K +6.1%	655K	$20.4M
Vanguard Portfolio Management LLC Index funds	+34K +19.2%	210K	$6.5M
Trexquant Investment LP Hedge fund	+32K +62.5%	84K	$2.6M
Quantinno Capital Management LP	+32K +34.8%	124K	$3.9M
AQR Capital Management LLC Hedge fund	+28K +10.2%	297K	$9.2M
Citadel Advisors LLC Hedge fund	+26K New position	26K	$815,162
Strs Ohio	+25K New position	25K	$774,390

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Mairs & Power Inc Active manager	+124K +156.1%	203K	$6.3M
Qube Research & Technologies Ltd Hedge fund	+73K +80.9%	164K	$5.1M
Two Sigma Investments, LP Hedge fund	+47K +133.7%	82K	$2.6M
Federated Hermes, Inc. Active manager	+41K +42.2%	139K	$4.3M
Trexquant Investment LP Hedge fund	+32K +62.5%	84K	$2.6M
AQR Capital Management LLC Hedge fund	+28K +10.2%	297K	$9.2M
Citadel Advisors LLC Hedge fund	+26K New position	26K	$815,162
Bridgeway Capital Management, LLC Active manager	+17K +18.3%	109K	$3.4M
Marshall Wace, LLP Hedge fund	+13K New position	13K	$418,513
FMR LLC Active manager	+13K +156.9%	22K	$676,990

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Wellington Management Group LLP Active manager	−242K Sold out	0	—
Endeavour Capital Advisors Inc	−223K −39.6%	340K	$10.6M
Alerus Financial Na	−126K −5.6%	2.1M	$65.8M
Ameriprise Financial Inc	−73K −19.0%	311K	$9.7M
Millennium Management LLC Hedge fund	−69K −64.9%	38K	$1.2M
Renaissance Technologies LLC Hedge fund	−56K −57.0%	42K	$1.3M
Carret Asset Management, LLC	−37K Sold out	0	—
Morgan Stanley	−36K −13.0%	237K	$7.4M
American Century Companies Inc Active manager	−32K −10.5%	278K	$8.6M
Jane Street Group, LLC	−31K Sold out	0	—
Centerbook Partners LP Hedge fund	−28K Sold out	0	—
HSBC Holdings PLC	−20K Sold out	0	—
Black Maple Capital Management LP	−20K Sold out	0	—
Gsa Capital Partners LLP	−19K −40.4%	28K	$869,000
Barclays PLC	−16K −81.2%	3,707	$115,287
Vanguard Capital Management LLC Index funds	−16K −1.7%	946K	$29.4M
Martingale Asset Management L P Active manager	−15K −63.8%	8,400	$261,240
BNP Paribas Financial Markets	−14K −81.2%	3,355	$104,340
Gator Capital Management, LLC	−14K −19.9%	54K	$1.7M
Acadian Asset Management LLC Active manager	−12K −12.0%	89K	$2.8M

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Wellington Management Group LLP Active manager	−242K Sold out	0	—
Millennium Management LLC Hedge fund	−69K −64.9%	38K	$1.2M
Renaissance Technologies LLC Hedge fund	−56K −57.0%	42K	$1.3M
American Century Companies Inc Active manager	−32K −10.5%	278K	$8.6M
Centerbook Partners LP Hedge fund	−28K Sold out	0	—
Martingale Asset Management L P Active manager	−15K −63.8%	8,400	$261,240
Acadian Asset Management LLC Active manager	−12K −12.0%	89K	$2.8M
Panagora Asset Management Inc Active manager	−12K Sold out	0	—
Los Angeles Capital Management LLC Active manager	−4,430 −5.9%	71K	$2.2M
Squarepoint Ops LLC Hedge fund	−3,439 −6.5%	49K	$1.5M

New positions

largest by value

Institution	Shares	Value June 30, 2026
Proshare Advisors LLCIndex funds	226K	$7M
Citadel Advisors LLCHedge fund	26K	$815,162
Strs Ohio	25K	$774,390
Odyssean, LLC	19K	$584,089
Connor, Clark & Lunn Investment Management Ltd.	18K	$557,716
Aquatic Capital Management LLC	17K	$515,140
Marshall Wace, LLPHedge fund	13K	$418,513
HRT Financial LP	13K	$413,000
Pfg Advisors	7,948	$247,183
Mml Investors Services, LLC	7,937	$246,850

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Wellington Management Group LLPActive manager	242K	$5.7M
Carret Asset Management, LLC	37K	$877,270
Jane Street Group, LLC	31K	$741,198
Centerbook Partners LPHedge fund	28K	$666,227
HSBC Holdings PLC	20K	$485,156
Black Maple Capital Management LP	20K	$468,438
Panagora Asset Management IncActive manager	12K	$281,841
Numerai Gp LLC	9,642	$228,612
State Of Wyoming	391	$9,271
Root Financial Partners, LLC	34	$806

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 159
Ten largest holders: 54.2%
Index fund managers: 31.2%
Active managers and hedge funds: 13.4%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	13	10	2	3	−47K	−2.1%
Index fund managers	8	2	1	0	+430K	+9.4%
Other institutions	68	37	24	8	+115K	+1.3%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on Alerus Financial.

Only managers that filed a holdings report for both quarters are compared (168 here). 5 other holders are left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

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