ALERUS FINL CORP

Ticker: ALRS CUSIP: 01446U103 Class: Common Stock

SJS Investment Consulting Inc.'s Holding History (CIK: 0001894302)

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

Q4 2025

Shares 7 Value ($000) $0 Avg Close $21.62 Range $20.12 - $23.60

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	7	$0	$21.62	$20.12 - $23.60