| ALERUS FINANCIAL NA | 2,289,199 | $51,553 |
| BlackRock, Inc. | 1,801,441 | $40,568 |
| VANGUARD GROUP INC | 1,289,690 | $29,044 |
| DIMENSIONAL FUND ADVISORS LP | 830,052 | $18,692 |
| GEODE CAPITAL MANAGEMENT, LLC | 603,392 | $13,591 |
| ENDEAVOUR CAPITAL ADVISORS INC | 516,532 | $11,632 |
| STATE STREET CORP | 476,030 | $10,819 |
| M3F, Inc. | 411,163 | $9 |
| AMERIPRISE FINANCIAL INC | 379,540 | $8,547 |
| Phocas Financial Corp. | 334,357 | $7,530 |
| AQR CAPITAL MANAGEMENT LLC | 323,080 | $7,276 |
| MORGAN STANLEY | 304,602 | $6,860 |
| GOLDMAN SACHS GROUP INC | 298,060 | $6,712 |
| CHOREO, LLC | 294,571 | $6,560 |
| GRACE & WHITE INC /NY | 256,233 | $5,770 |
| WELLINGTON MANAGEMENT GROUP LLP | 245,497 | $5,529 |
| ALLIANCEBERNSTEIN L.P. | 243,581 | $5,485 |
| GENDELL JEFFREY L | 233,700 | $5,263 |
| BANC FUNDS CO LLC | 214,967 | $4,841 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 207,200 | $4,666 |
| CSM Advisors, LLC | 201,940 | $5 |
| AMERICAN CENTURY COMPANIES INC | 182,533 | $4,111 |
| NORTHERN TRUST CORP | 181,935 | $4,097 |
| Qube Research & Technologies Ltd | 140,579 | $3,166 |
| Cutler Capital Management, LLC | 138,000 | $3,108 |
| GABELLI FUNDS LLC | 137,821 | $3,104 |
| Bank of New York Mellon Corp | 119,042 | $2,681 |
| RENAISSANCE TECHNOLOGIES LLC | 119,012 | $2,680 |
| TWO SIGMA INVESTMENTS, LP | 117,914 | $2,655 |
| LOS ANGELES CAPITAL MANAGEMENT LLC | 103,334 | $2,192 |
| ACADIAN ASSET MANAGEMENT LLC | 90,806 | $2 |
| MARSHALL WACE, LLP | 87,178 | $1,963 |
| GAMCO INVESTORS, INC. ET AL | 85,093 | $1,916 |
| MARTINGALE ASSET MANAGEMENT L P | 80,750 | $1,818 |
| FIRST TRUST ADVISORS LP | 80,705 | $1,817 |
| MAIRS & POWER INC | 79,436 | $1,789 |
| JPMORGAN CHASE & CO | 75,773 | $1,706 |
| CWM, LLC | 73,596 | $2 |
| FORTRESS FINANCIAL GROUP, LLC | 67,339 | $1,516 |
| FJ Capital Management LLC | 67,134 | $1,512 |
| Gator Capital Management, LLC | 65,410 | $1,473 |
| Man Group plc | 64,111 | $1,444 |
| BASSWOOD CAPITAL MANAGEMENT, L.L.C. | 60,240 | $1,357 |
| Quantinno Capital Management LP | 57,498 | $1,295 |
| NEW YORK STATE COMMON RETIREMENT FUND | 52,214 | $1,176 |
| BARCLAYS PLC | 51,283 | $1,155 |
| Wealth Forward, LLC | 50,279 | $1,132 |
| GSA CAPITAL PARTNERS LLP | 49,079 | $1 |
| BANK OF AMERICA CORP /DE/ | 48,918 | $1,102 |
| FEDERATED HERMES, INC. | 46,984 | $1,058 |
| HSBC HOLDINGS PLC | 46,666 | $1,038 |
| MILLENNIUM MANAGEMENT LLC | 39,249 | $884 |
| Nuveen, LLC | 39,202 | $883 |
| Cetera Investment Advisers | 34,690 | $781 |
| IEQ CAPITAL, LLC | 33,585 | $756 |
| Mariner, LLC | 32,715 | $736 |
| TWO SIGMA ADVISERS, LP | 31,000 | $698 |
| JANE STREET GROUP, LLC | 30,882 | $695 |
| RHUMBLINE ADVISERS | 29,953 | $675 |
| Invesco Ltd. | 29,666 | $668 |
| Johnson Wealth Management, LLC | 28,186 | $635 |
| Creative Planning | 27,493 | $619 |
| WELLS FARGO & COMPANY/MN | 26,857 | $605 |
| Black Maple Capital Management LP | 24,576 | $553 |
| Squarepoint Ops LLC | 23,255 | $524 |
| CITADEL ADVISORS LLC | 22,388 | $504 |
| BNP PARIBAS ARBITRAGE, SA | 21,900 | $493 |
| Lafayette Investments, Inc. | 21,900 | $493 |
| XTX Topco Ltd | 21,855 | $492 |
| Inspire Investing, LLC | 20,878 | $470 |
| Trexquant Investment LP | 20,745 | $467 |
| CANADA PENSION PLAN INVESTMENT BOARD | 18,800 | $423 |
| UBS Group AG | 17,092 | $385 |
| First PREMIER Bank | 17,036 | $0 |
| DEUTSCHE BANK AG\ | 16,649 | $375 |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | 15,940 | $359 |
| MERCER GLOBAL ADVISORS INC /ADV | 15,363 | $346 |
| STATE OF WISCONSIN INVESTMENT BOARD | 15,077 | $340 |
| Connor, Clark & Lunn Investment Management Ltd. | 14,730 | $332 |
| PRICE T ROWE ASSOCIATES INC /MD/ | 13,594 | $0 |
| Aviance Capital Partners, LLC | 13,111 | $295 |
| MetLife Investment Management, LLC | 13,109 | $295 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | 12,696 | $297 |
| PANAGORA ASSET MANAGEMENT INC | 12,353 | $278 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 10,905 | $246 |
| CITIGROUP INC | 10,607 | $239 |
| Harbor Advisors LLC | 9,867 | $222 |
| Hanson & Doremus Investment Management | 9,844 | $0 |
| Numerai GP LLC | 9,195 | $207 |
| FMR LLC | 7,807 | $176 |
| Police & Firemen's Retirement System of New Jersey | 6,759 | $152 |
| AlphaQuest LLC | 4,816 | $108 |
| Horrell Capital Management, Inc. | 4,440 | $100 |
| Russell Investments Group, Ltd. | 3,174 | $71 |
| GREAT WEST LIFE ASSURANCE CO /CAN/ | 2,222 | $0 |
| US BANCORP \DE\ | 2,180 | $49 |
| Legal & General Group Plc | 2,068 | $47 |
| Ameritas Investment Partners, Inc. | 1,964 | $44 |
| OSAIC HOLDINGS, INC. | 1,897 | $43 |
| NewEdge Advisors, LLC | 1,563 | $35 |
| 39 other institutions | 15,593 | $310 |