ALERUS FINL CORP

Ticker: ALRS CUSIP: 01446U103 Class: Common Stock

MERCER GLOBAL ADVISORS INC /ADV's Holding History (CIK: 0000853758)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 15,363 Value ($000) $346 Avg Close $21.62 Range $20.12 - $23.60

Q3 2025

Shares 11,361 Value ($000) $252 Avg Close $21.76 Range $19.88 - $23.88

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	15,363	$346	$21.62	$20.12 - $23.60
Q3 2025	11,361	$252	$21.76	$19.88 - $23.88