ALERUS FINL CORP

Ticker: ALRS CUSIP: 01446U103 Class: Common Stock

MORGAN STANLEY's Holding History (CIK: 0000895421)

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

Q4 2025

Shares 304,602 Value ($000) $6,860 Avg Close $21.62 Range $20.12 - $23.60

Q3 2025

Shares 308,256 Value ($000) $6,825 Avg Close $21.76 Range $19.88 - $23.88

Q2 2025

Shares 257,758 Value ($000) $5,578 Avg Close $19.46 Range $15.34 - $21.90

Q1 2025

Shares 81,816 Value ($000) $1,510 Avg Close $19.14 Range $17.30 - $21.15

Q4 2024

Shares 95,161 Value ($000) $1,831 Avg Close $20.92 Range $17.68 - $23.23

Q3 2024

Shares 79,618 Value ($000) $1,822 Avg Close $20.17 Range $17.43 - $21.79

Q2 2024

Shares 58,700 Value ($000) $1,151 Avg Close $18.42 Range $16.87 - $20.39

Q1 2024

Shares 59,205 Value ($000) $1,292 Avg Close $20.31 Range $18.73 - $23.90

Q4 2023

Shares 90,892 Value ($000) $2,035 Avg Close $17.33 Range $15.40 - $21.17

Q3 2023

Shares 53,607 Value ($000) $975 Avg Close $17.09 Range $15.52 - $18.53

Q2 2023

Shares 55,473 Value ($000) $997 Avg Close $14.58 Range $11.77 - $17.64

Q1 2023

Shares 57,648 Value ($000) $925 Avg Close $17.63 Range $13.75 - $21.12

Q4 2022

Shares 13,268 Value ($000) $310 Avg Close $20.02 Range $18.60 - $21.30

Q3 2022

Shares 26,806 Value ($000) $593 Avg Close $20.65 Range $17.66 - $22.47

Q2 2022

Shares 32,085 Value ($000) $764 Avg Close $22.03 Range $19.59 - $24.05

Q1 2022

Shares 44,445 Value ($000) $1,228 Avg Close $24.94 Range $23.39 - $26.31

Q4 2021

Shares 23,866 Value ($000) $699 Avg Close $26.94 Range $23.38 - $32.88

Q3 2021

Shares 23,640 Value ($000) $706 Avg Close $24.55 Range $22.14 - $27.20

Q2 2021

Shares 24,115 Value ($000) $700 Avg Close $26.56 Range $23.39 - $28.77

Q1 2021

Shares 24,224 Value ($000) $721 Avg Close $24.66 Range $20.33 - $29.46

Q4 2020

Shares 49,598 Value ($000) $1,358 Avg Close $20.24 Range $16.19 - $24.46

Q3 2020

Shares 16,315 Value ($000) $320 Avg Close $16.93 Range $15.03 - $19.44

Q2 2020

Shares 15,124 Value ($000) $299 Avg Close $14.95 Range $12.55 - $18.00

Q1 2020

Shares 11,053 Value ($000) $183 Avg Close $16.44 Range $12.36 - $18.89

Q4 2019

Shares 4,319 Value ($000) $99 Avg Close $17.93 Range $17.26 - $19.24

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	304,602	$6,860	$21.62	$20.12 - $23.60
Q3 2025	308,256	$6,825	$21.76	$19.88 - $23.88
Q2 2025	257,758	$5,578	$19.46	$15.34 - $21.90
Q1 2025	81,816	$1,510	$19.14	$17.30 - $21.15
Q4 2024	95,161	$1,831	$20.92	$17.68 - $23.23
Q3 2024	79,618	$1,822	$20.17	$17.43 - $21.79
Q2 2024	58,700	$1,151	$18.42	$16.87 - $20.39
Q1 2024	59,205	$1,292	$20.31	$18.73 - $23.90
Q4 2023	90,892	$2,035	$17.33	$15.40 - $21.17
Q3 2023	53,607	$975	$17.09	$15.52 - $18.53
Q2 2023	55,473	$997	$14.58	$11.77 - $17.64
Q1 2023	57,648	$925	$17.63	$13.75 - $21.12
Q4 2022	13,268	$310	$20.02	$18.60 - $21.30
Q3 2022	26,806	$593	$20.65	$17.66 - $22.47
Q2 2022	32,085	$764	$22.03	$19.59 - $24.05
Q1 2022	44,445	$1,228	$24.94	$23.39 - $26.31
Q4 2021	23,866	$699	$26.94	$23.38 - $32.88
Q3 2021	23,640	$706	$24.55	$22.14 - $27.20
Q2 2021	24,115	$700	$26.56	$23.39 - $28.77
Q1 2021	24,224	$721	$24.66	$20.33 - $29.46
Q4 2020	49,598	$1,358	$20.24	$16.19 - $24.46
Q3 2020	16,315	$320	$16.93	$15.03 - $19.44
Q2 2020	15,124	$299	$14.95	$12.55 - $18.00
Q1 2020	11,053	$183	$16.44	$12.36 - $18.89
Q4 2019	4,319	$99	$17.93	$17.26 - $19.24