# EDGAR Filing Document

**Accession Number:** 0000919458
**File Stem:** 0000919458-23-000001
**Filing Date:** 2023-2
**Character Count:** 19835
**Document Hash:** 145eed7af9831a6c790a5cfb47488275
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000919458-23-000001.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0000919458-23-000001

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**EFFECTIVENESS DATE**: 20230214

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALERUS FINANCIAL  NA
- **CENTRAL INDEX KEY:** 0000919458
- **IRS NUMBER:** 450140105
- **STATE OF INCORPORATION:** ND
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-03439
- **FILM NUMBER:** 23627580

**BUSINESS ADDRESS:**
- **STREET 1:** PO BOX 6001
- **STREET 2:** 401 DEMERS AVE
- **CITY:** GRAND FORKS
- **STATE:** ND
- **ZIP:** 58206-6001
- **BUSINESS PHONE:** 7017953200

**MAIL ADDRESS:**
- **STREET 1:** PO BOX 6001
- **STREET 2:** 401 DEMERS AVE
- **CITY:** GRAND FORKS
- **STATE:** ND
- **ZIP:** 58206-6001

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST NATIONAL BANK NORTH DAKOTA
- **DATE OF NAME CHANGE:** 19980309

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** ALERUS FINANCIAL  NA<br>**Address:** PO BOX 6001<br>401 DEMERS AVE<br>GRAND FORKS, ND 58206-6001

**Form 13F File Number:** 028-03439

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Heather Bergantine<br>**Title:** Wealth Management Advisor Support Manager<br>**Phone:** 701-280-5032

**Signature, Place, and Date of Signing:**

Heather Bergantine  Fargo, ND  02-14-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 165

**Form 13F Information Table Value Total:** $1092019218

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| AT INC | COM | 00206R102 |  | 6165344 | 334891 | SH |  | SOLE |  | 334891 | 0 | 0 |
| ABBOTT LABORATORIES | COM | 002824100 |  | 989764 | 9015 | SH |  | SOLE |  | 9015 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 5747991 | 35567 | SH |  | SOLE |  | 35567 | 0 | 0 |
| ACTIVISION BLIZZARD INC | COM | 00507V109 |  | 2326520 | 30392 | SH |  | SOLE |  | 30392 | 0 | 0 |
| ADOBE SYSTEMS INC | COM | 00724F101 |  | 309609 | 920 | SH |  | SOLE |  | 920 | 0 | 0 |
| ADVANCE AUTO PARTS INC | COM | 00751Y106 |  | 13700991 | 93185 | SH |  | SOLE |  | 93185 | 0 | 0 |
| ADVANCED MIRCO DEVICES INC | COM | 007903107 |  | 1013712 | 15651 | SH |  | SOLE |  | 15651 | 0 | 0 |
| ALERUS FINANCIAL CORP | COM | 01446U103 |  | 2472485 | 105888 | SH |  | SOLE |  | 105888 | 0 | 0 |
| ALERUS FINANCIAL CORP | COM | 01446U103 |  | 50023569 | 2142337 | SH |  | OTR |  | 0 | 0 | 2142337 |
| ALLETE INC | COM | 018522300 |  | 201013 | 3116 | SH |  | SOLE |  | 3116 | 0 | 0 |
| ALPHABET INC | COM | 02079K305 |  | 3376124 | 38265 | SH |  | SOLE |  | 38265 | 0 | 0 |
| AMAZON.COM INC | COM | 023135106 |  | 1639176 | 19514 | SH |  | SOLE |  | 19514 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 4410964 | 29854 | SH |  | SOLE |  | 29854 | 0 | 0 |
| AMERICAN TOWER CORP | COM | 03027X100 |  | 408041 | 1926 | SH |  | SOLE |  | 1926 | 0 | 0 |
| AMERISOURCEBERGEN CORP | COM | 03073E105 |  | 6385148 | 38532 | SH |  | SOLE |  | 38532 | 0 | 0 |
| ANHEUSER BUSCH INBEV SA/NV | SPONSORED ADR | 03524A108 |  | 11521083 | 191890 | SH |  | SOLE |  | 191890 | 0 | 0 |
| ELEVANCE HEALTH INC | COM | 036752103 |  | 14500676 | 28268 | SH |  | SOLE |  | 28268 | 0 | 0 |
| APPLE COMPUTER | COM | 037833100 |  | 23297382 | 179307 | SH |  | SOLE |  | 179307 | 0 | 0 |
| ATLASSIAN CORPORATION | CL A | 049468101 |  | 2593935 | 20158 | SH |  | SOLE |  | 20158 | 0 | 0 |
| BALL CORPORATION | COM | 058498106 |  | 5722064 | 111890 | SH |  | SOLE |  | 111890 | 0 | 0 |
| BANK OF AMERICA | COM | 060505104 |  | 431289 | 13022 | SH |  | SOLE |  | 13022 | 0 | 0 |
| BERKSHIRE HATHAWAY | CL A | 084670108 |  | 468711 | 1 | SH |  | SOLE |  | 1 | 0 | 0 |
| BERKSHIRE HATHAWAY | CL B NEW | 084670702 |  | 10654013 | 34490 | SH |  | SOLE |  | 34490 | 0 | 0 |
| BEST BUY INC | COM | 086516101 |  | 6563588 | 81830 | SH |  | SOLE |  | 81830 | 0 | 0 |
| BHP BILLITON LTD | SPONSORED ADR | 088606108 |  | 7431991 | 119774 | SH |  | SOLE |  | 119774 | 0 | 0 |
| BLACKSTONE GROUP INC | COM CL A | 09260D107 |  | 512504 | 6908 | SH |  | SOLE |  | 6908 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 303486 | 4218 | SH |  | SOLE |  | 4218 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 8715162 | 15587 | SH |  | SOLE |  | 15587 | 0 | 0 |
| BROADWIND INC | COM NEW | 11161T207 |  | 23698 | 13239 | SH |  | SOLE |  | 13239 | 0 | 0 |
| BURLINGTON STORES INC | COM | 122017106 |  | 7007799 | 34562 | SH |  | SOLE |  | 34562 | 0 | 0 |
| CBOE GLOBAL MKTS INC | COM | 12503M108 |  | 2291845 | 18266 | SH |  | SOLE |  | 18266 | 0 | 0 |
| CVS CORP | COM | 126650100 |  | 5662692 | 60765 | SH |  | SOLE |  | 60765 | 0 | 0 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 |  | 4978712 | 30993 | SH |  | SOLE |  | 30993 | 0 | 0 |
| CANADIAN PACIFIC RAILWAY LIMITED | COM | 13645T100 |  | 3636345 | 48751 | SH |  | SOLE |  | 48751 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 262797 | 1097 | SH |  | SOLE |  | 1097 | 0 | 0 |
| CELANESE CORPORATION DEL | COM | 150870103 |  | 2690338 | 26314 | SH |  | SOLE |  | 26314 | 0 | 0 |
| CENTRAL GARDEN  PET CO | CL A  NON-VTG | 153527205 |  | 413132 | 11540 | SH |  | SOLE |  | 11540 | 0 | 0 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 4514691 | 30106 | SH |  | SOLE |  | 30106 | 0 | 0 |
| CHEVRON TEXACO | COM | 166764100 |  | 3746132 | 20871 | SH |  | SOLE |  | 20871 | 0 | 0 |
| CISCO SYSTEMS | COM | 17275R102 |  | 418947 | 8794 | SH |  | SOLE |  | 8794 | 0 | 0 |
| COCA COLA COMPANY | COM | 191216100 |  | 1528103 | 24023 | SH |  | SOLE |  | 24023 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 224436 | 1902 | SH |  | SOLE |  | 1902 | 0 | 0 |
| COSTCO WHSL CORP | COM | 22160K105 |  | 724934 | 1588 | SH |  | SOLE |  | 1588 | 0 | 0 |
| DANAHER CORPORATION | COM | 235851102 |  | 5672032 | 21370 | SH |  | SOLE |  | 21370 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 6110688 | 14252 | SH |  | SOLE |  | 14252 | 0 | 0 |
| DIMENSIONAL ETF TRUST | WORLD EX US CORE | 25434V880 |  | 84590695 | 3916236 | SH |  | SOLE |  | 3916236 | 0 | 0 |
| DOLLAR GEN CORP NEW | COM | 256677105 |  | 572539 | 2325 | SH |  | SOLE |  | 2325 | 0 | 0 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 6311939 | 61287 | SH |  | SOLE |  | 61287 | 0 | 0 |
| ECOLAB INC | COM | 278865100 |  | 776708 | 5336 | SH |  | SOLE |  | 5336 | 0 | 0 |
| ELECTRONIC ARTS INC DEL | COM | 285512109 |  | 8812010 | 72123 | SH |  | SOLE |  | 72123 | 0 | 0 |
| EMERSON ELECTIC CO | COM | 291011104 |  | 3806666 | 39628 | SH |  | SOLE |  | 39628 | 0 | 0 |
| EXPEDIA GROUP INC | COM NEW | 30212P303 |  | 445531 | 5086 | SH |  | SOLE |  | 5086 | 0 | 0 |
| EXXON MOBIL CORP COM | COM | 30231G102 |  | 4992313 | 45261 | SH |  | SOLE |  | 45261 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 554887 | 4611 | SH |  | SOLE |  | 4611 | 0 | 0 |
| FORTIVE CORP | COM | 34959J108 |  | 219165 | 3412 | SH |  | SOLE |  | 3412 | 0 | 0 |
| FREEPORT-MCMORAN COPPER  GOLD | CL B | 35671D857 |  | 1925878 | 50681 | SH |  | SOLE |  | 50681 | 0 | 0 |
| GALLAGHER ARTHUR J  CO | COM | 363576109 |  | 3259109 | 17286 | SH |  | SOLE |  | 17286 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 2048672 | 6486 | SH |  | SOLE |  | 6486 | 0 | 0 |
| ILLUMINA INC | COM | 452327109 |  | 5713158 | 28255 | SH |  | SOLE |  | 28255 | 0 | 0 |
| INTEL INC | COM | 458140100 |  | 5489357 | 207694 | SH |  | SOLE |  | 207694 | 0 | 0 |
| GLUCOTRACK INC | COM | 45824Q507 |  | 16215 | 11500 | SH |  | SOLE |  | 11500 | 0 | 0 |
| INTERCONTINENTAL EXCHAN | COM | 45866F104 |  | 4200440 | 40944 | SH |  | SOLE |  | 40944 | 0 | 0 |
| IBM | COM | 459200101 |  | 7329381 | 52022 | SH |  | SOLE |  | 52022 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 6103860 | 23003 | SH |  | SOLE |  | 23003 | 0 | 0 |
| IQVIA HOLDINGS INC | COM | 46266C105 |  | 5343117 | 26078 | SH |  | SOLE |  | 26078 | 0 | 0 |
| ISHARES TRUST | DJ SEL DIV INX | 464287168 |  | 706113 | 5855 | SH |  | SOLE |  | 5855 | 0 | 0 |
| ISHARES TRUST | CORE S ETF | 464287200 |  | 1828840 | 4760 | SH |  | SOLE |  | 4760 | 0 | 0 |
| ISHARES TRUST | CORE TOTUSBD ETF | 464287226 |  | 65642347 | 676795 | SH |  | SOLE |  | 676795 | 0 | 0 |
| ISHARES S 500 GROWTH | ETF | 464287309 |  | 1314145 | 22464 | SH |  | SOLE |  | 22464 | 0 | 0 |
| ISHARES RUSSELL MIDCAP | X FDETF | 464287499 |  | 18492224 | 274162 | SH |  | SOLE |  | 274162 | 0 | 0 |
| ISHARES TRUST | CORE S MCP ETF | 464287507 |  | 597468 | 2470 | SH |  | SOLE |  | 2470 | 0 | 0 |
| ISHARES TRUST | ISHARES BIOTECH | 464287556 |  | 204943 | 1561 | SH |  | SOLE |  | 1561 | 0 | 0 |
| ISHARES TRUST | S MC 400GR ETF | 464287606 |  | 463347 | 6784 | SH |  | SOLE |  | 6784 | 0 | 0 |
| ISHARES TRUST | RUSSELL 2000 | 464287655 |  | 752712 | 4317 | SH |  | SOLE |  | 4317 | 0 | 0 |
| ISHARES TRUST | US REAL EST ETF | 464287739 |  | 230681 | 2740 | SH |  | SOLE |  | 2740 | 0 | 0 |
| ISHARES TRUST | CORE S SCP ETF | 464287804 |  | 465913 | 4923 | SH |  | SOLE |  | 4923 | 0 | 0 |
| ISHARES TRUST | MBS ETF | 464288588 |  | 2084464 | 22474 | SH |  | SOLE |  | 22474 | 0 | 0 |
| ISHARES TRUST | EAFE GRWTH ETF | 464288885 |  | 443928 | 5300 | SH |  | SOLE |  | 5300 | 0 | 0 |
| ISHARES TRUST | CORE MSCI TOTAL | 46432F834 |  | 57582496 | 994860 | SH |  | SOLE |  | 994860 | 0 | 0 |
| JP MORGAN CHASE  CO | COM | 46625H100 |  | 8406748 | 62690 | SH |  | SOLE |  | 62690 | 0 | 0 |
| JOHNSON AND JOHNSON | COM | 478160104 |  | 1009380 | 5714 | SH |  | SOLE |  | 5714 | 0 | 0 |
| L3HARRIS TECHNOLOGIES INC | CALL | 502431109 |  | 207169 | 995 | SH |  | SOLE |  | 995 | 0 | 0 |
| LAUDER ESTEE COS INC | CL A | 518439104 |  | 605391 | 2440 | SH |  | SOLE |  | 2440 | 0 | 0 |
| LILLY ELI  CO | COM | 532457108 |  | 8154218 | 22289 | SH |  | SOLE |  | 22289 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 6863881 | 14109 | SH |  | SOLE |  | 14109 | 0 | 0 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 4260949 | 25749 | SH |  | SOLE |  | 25749 | 0 | 0 |
| MASTERCARD INCORPORATED | COM | 57636Q104 |  | 610959 | 1757 | SH |  | SOLE |  | 1757 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 227426 | 863 | SH |  | SOLE |  | 863 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 7993840 | 72049 | SH |  | SOLE |  | 72049 | 0 | 0 |
| METLIFE INC | COM | 59156R108 |  | 4327214 | 59793 | SH |  | SOLE |  | 59793 | 0 | 0 |
| MICROSOFT INC | COM | 594918104 |  | 21003678 | 87581 | SH |  | SOLE |  | 87581 | 0 | 0 |
| MOLINA HEALTHCARE INC | COM | 60855R100 |  | 296208 | 897 | SH |  | SOLE |  | 897 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 318824 | 3750 | SH |  | SOLE |  | 3750 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 361818 | 1227 | SH |  | SOLE |  | 1227 | 0 | 0 |
| NEWELL BRANDS INC | COM | 651229106 |  | 4929490 | 376873 | SH |  | SOLE |  | 376873 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 201812 | 2414 | SH |  | SOLE |  | 2414 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 8350347 | 71365 | SH |  | SOLE |  | 71365 | 0 | 0 |
| NORFOLK SOUTHERN CORP | COM | 655844108 |  | 481752 | 1955 | SH |  | SOLE |  | 1955 | 0 | 0 |
| NORTHRUP GRUMMAN CORP | COM | 666807102 |  | 7306239 | 13391 | SH |  | SOLE |  | 13391 | 0 | 0 |
| NIVIDIA CORP | COM | 67066G104 |  | 6522086 | 44629 | SH |  | SOLE |  | 44629 | 0 | 0 |
| OKTA INCORPORATION | CL A | 679295105 |  | 5859186 | 85748 | SH |  | SOLE |  | 85748 | 0 | 0 |
| OLD DOMINION FREIGHT LINE INC | COM | 679580100 |  | 314997 | 1110 | SH |  | SOLE |  | 1110 | 0 | 0 |
| OMNICOM GROUP INC | COM | 681919106 |  | 6294917 | 77172 | SH |  | SOLE |  | 77172 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 9208507 | 112656 | SH |  | SOLE |  | 112656 | 0 | 0 |
| OTTER TAIL CORP | COM | 689648103 |  | 230731 | 3930 | SH |  | SOLE |  | 3930 | 0 | 0 |
| OXFORD SQUARE CAP CORP | COM | 69181V107 |  | 31200 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| PAPA JOHNS INTL INC | COM | 698813102 |  | 2996907 | 36410 | SH |  | SOLE |  | 36410 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 269363 | 1491 | SH |  | SOLE |  | 1491 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 7137787 | 139301 | SH |  | SOLE |  | 139301 | 0 | 0 |
| PHILIP MORRIS | COM | 718172109 |  | 306970 | 3033 | SH |  | SOLE |  | 3033 | 0 | 0 |
| PROCTER AND GAMBLE COMP | COM | 742718109 |  | 451800 | 2981 | SH |  | SOLE |  | 2981 | 0 | 0 |
| PROLOGIS INC | COM | 74340W103 |  | 2875300 | 25506 | SH |  | SOLE |  | 25506 | 0 | 0 |
| PRUDENTIAL FINANCIAL IN | COM | 744320102 |  | 5992465 | 60250 | SH |  | SOLE |  | 60250 | 0 | 0 |
| PUBLIC STORAGE INC | COM | 74460D109 |  | 5221356 | 18635 | SH |  | SOLE |  | 18635 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 333228 | 3031 | SH |  | SOLE |  | 3031 | 0 | 0 |
| RAYTHEON TECHNOLOGIES CORP | COM | 75513E101 |  | 5767787 | 57152 | SH |  | SOLE |  | 57152 | 0 | 0 |
| REGIONS FINANCIAL CORP NEW | COM | 7591EP100 |  | 2732527 | 126741 | SH |  | SOLE |  | 126741 | 0 | 0 |
| RESTURANT BRANDS INTERNATIONAL INC | COM | 76131D103 |  | 6527212 | 100931 | SH |  | SOLE |  | 100931 | 0 | 0 |
| RIO TINTO PLC | SPONSORED ADR | 767204100 |  | 8724570 | 122536 | SH |  | SOLE |  | 122536 | 0 | 0 |
| SPDR S  500 ETF TR | TR UNIT | 78462F103 |  | 970989 | 2539 | SH |  | SOLE |  | 2539 | 0 | 0 |
| SPDR GOLD TRUST | GOLD SHS | 78463V107 |  | 12302293 | 72520 | SH |  | SOLE |  | 72520 | 0 | 0 |
| SPDR SER TR | S BIOTECH | 78464A870 |  | 6039993 | 72771 | SH |  | SOLE |  | 72771 | 0 | 0 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 205469 | 2720 | SH |  | SOLE |  | 2720 | 0 | 0 |
| SELECT SECTOR SPDR ETF | SBI HEALTHCARE | 81369Y209 |  | 670826 | 4938 | SH |  | SOLE |  | 4938 | 0 | 0 |
| SELECT SECTOR SPDR ETF | SBI CONS DISCR | 81369Y407 |  | 4876692 | 37757 | SH |  | SOLE |  | 37757 | 0 | 0 |
| SELECT SECTOR SPDR ETF | ENERGY | 81369Y506 |  | 20120552 | 230028 | SH |  | SOLE |  | 230028 | 0 | 0 |
| SELECT SECTOR SPDR ETF | FINANCIAL | 81369Y605 |  | 4286634 | 125340 | SH |  | SOLE |  | 125340 | 0 | 0 |
| SELECT SECTOR SPDR ETF | SBI INT-INDS | 81369Y704 |  | 11147812 | 113510 | SH |  | SOLE |  | 113510 | 0 | 0 |
| SELECT SECTOR SPDR ETF | TECHNOLOGY | 81369Y803 |  | 31906674 | 256402 | SH |  | SOLE |  | 256402 | 0 | 0 |
| SELECT SECTOR SPDR ETF | SBI INT-UTILS | 81369Y886 |  | 12721090 | 180438 | SH |  | SOLE |  | 180438 | 0 | 0 |
| SELECTA BIOSCIENCES INC | COM | 816212104 |  | 33900 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| SHOPIFY INC | CL A | 82509L107 |  | 5226664 | 150581 | SH |  | SOLE |  | 150581 | 0 | 0 |
| SNAP INC | CL A | 83304A106 |  | 8051505 | 899607 | SH |  | SOLE |  | 899607 | 0 | 0 |
| SNOWFLAKE INC | CL A | 833445109 |  | 475688 | 3314 | SH |  | SOLE |  | 3314 | 0 | 0 |
| SOUTHERN COMPANY | COM | 842587107 |  | 6146039 | 86067 | SH |  | SOLE |  | 86067 | 0 | 0 |
| SYSCO CORPORATION | COM | 871829107 |  | 223387 | 2922 | SH |  | SOLE |  | 2922 | 0 | 0 |
| TAKE-2 INTERACTIVE SOFTWAR | COM | 874054109 |  | 8742347 | 83956 | SH |  | SOLE |  | 83956 | 0 | 0 |
| TARGET CORP | COM | 87612E106 |  | 555618 | 3728 | SH |  | SOLE |  | 3728 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 5103592 | 41432 | SH |  | SOLE |  | 41432 | 0 | 0 |
| TEXAS INSTRUMENTS INC | COM | 882508104 |  | 567201 | 3433 | SH |  | SOLE |  | 3433 | 0 | 0 |
| THERMO FISHER SCIENTIFIC | COM | 883556102 |  | 6383594 | 11592 | SH |  | SOLE |  | 11592 | 0 | 0 |
| US BANCORP DEL | COM NEW | 902973304 |  | 6790080 | 155700 | SH |  | SOLE |  | 155700 | 0 | 0 |
| UNILEVER PLC ADR | SPON ADR NEW | 904767704 |  | 11463754 | 227681 | SH |  | SOLE |  | 227681 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 3210246 | 6055 | SH |  | SOLE |  | 6055 | 0 | 0 |
| VANECK ETF TRUST | PHARMACEUTCL ETF | 92189F692 |  | 3686475 | 47420 | SH |  | SOLE |  | 47420 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHORT TERM TREAS | 92206C813 |  | 30272576 | 399849 | SH |  | SOLE |  | 399849 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 EFT SH | 922908363 |  | 107815706 | 306870 | SH |  | SOLE |  | 306870 | 0 | 0 |
| VANGUARD INDEX FDS | LARGE CAP ETF | 922908637 |  | 993811 | 5705 | SH |  | SOLE |  | 5705 | 0 | 0 |
| VERIZON COMMUNICATION | COM | 92343V104 |  | 5103485 | 129530 | SH |  | SOLE |  | 129530 | 0 | 0 |
| PARAMOUNT GLOBAL | CLASS B COM | 92556H206 |  | 1964751 | 116395 | SH |  | SOLE |  | 116395 | 0 | 0 |
| VICI PPTYS INC | COM | 925652109 |  | 2861344 | 88313 | SH |  | SOLE |  | 88313 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 10665562 | 51336 | SH |  | SOLE |  | 51336 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 9021807 | 63628 | SH |  | SOLE |  | 63628 | 0 | 0 |
| WELLS FARGO  CO NEW CO | COM | 949746101 |  | 4014999 | 97239 | SH |  | SOLE |  | 97239 | 0 | 0 |
| WESTERN DIGITAL CORPORATION DEL | COM | 958102105 |  | 3826868 | 121295 | SH |  | SOLE |  | 121295 | 0 | 0 |
| WRAP TECHNOLOGIES INC | COM | 98212N107 |  | 165214 | 97760 | SH |  | SOLE |  | 97760 | 0 | 0 |
| XCEL ENERGY INC | COM | 98389B100 |  | 211733 | 3020 | SH |  | SOLE |  | 3020 | 0 | 0 |
| ZOETIS INC | CLASS A | 98978V103 |  | 234338 | 1599 | SH |  | SOLE |  | 1599 | 0 | 0 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 1484698 | 5564 | SH |  | SOLE |  | 5564 | 0 | 0 |
| BUNGE LIMITED | COM | G16962105 |  | 6276542 | 62910 | SH |  | SOLE |  | 62910 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 |  | 8520833 | 54290 | SH |  | SOLE |  | 54290 | 0 | 0 |
| LINDE PLC | COM | G5494J103 |  | 408052 | 1251 | SH |  | SOLE |  | 1251 | 0 | 0 |
| MEDTRONIC HLDG PLC | SHS | G5960L103 |  | 5021411 | 64609 | SH |  | SOLE |  | 64609 | 0 | 0 |
| SEAGATE TECHNOLOGY HOLDINGS PL | ORD SHS | G7997R103 |  | 4015877 | 76333 | SH |  | SOLE |  | 76333 | 0 | 0 |
| CHUBB LIMITED | COM | H1467J104 |  | 8399341 | 38075 | SH |  | SOLE |  | 38075 | 0 | 0 |

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