Alerus Financial Corp (ALRS)

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Institutional Investors' Holdings

Filing Period:

No.	Name	Shares	Value	% Port
1.	Alerus Financial Na	2,145,669	$39,609,049	3.17%
2.	Blackrock, Inc.	1,832,817	$33,833,797	0%
3.	Vanguard Group Inc	1,194,264	$22,046,113	0%
4.	Dimensional Fund Advisors Lp	684,252	$12,630,917	0%
5.	Geode Capital Management, Llc	538,224	$9,938,313	0%