Institutional Ownership

Ownership > 100%

Ownership Information

Shares Outstanding

17,121,863

Short Interest Shares

171,023

Float (%)

81.54

Institutional Ownership (%)

42.61

Mutual Fund Ownership (%)

11.35

Insider Ownership (%)

18.46

Top 10 Instn Holders (%)

34.05

Ownership Activity - Total Positions

Company	Shares	% Out	Value ($)	Reported	Change
Alerus Financial Corp.	2,081,084	12.15	60,372,247	9/30/2020	43,355
BlackRock Inc.	774,953	4.53	22,481,387	9/30/2020	35,852
Endeavour Capital Advisors Inc.	440,438	2.57	12,777,106	9/30/2020	(4,500)
Vanguard Group Inc.	386,126	2.26	11,201,515	9/30/2020	78,302
Goldman Sachs Asset Management LP	336,920	1.97	9,774,049	9/30/2020	17,158
State Street Global Advisors Inc.	226,441	1.32	6,569,053	9/30/2020	7,546
Northern Trust Global Investments	219,755	1.28	6,375,093	9/30/2020	11,633
M3F Inc.	218,974	1.28	6,352,436	9/30/2020	(59,408)
Banc Funds Company LLC	215,000	1.26	6,237,150	9/30/2020	0
Brown Advisory Inc.	200,636	1.17	5,820,450	9/30/2020	(1,006)
Geode Capital Management LLC	177,257	1.04	5,142,226	9/30/2020	60,437
John W. Rosenthal Capital Management Inc.	120,000	0.70	3,481,200	9/30/2020	0
Charles Schwab Investment Management Inc.	86,638	0.51	2,513,368	12/31/2020	43,248
BNY Asset Management	81,258	0.47	2,357,295	9/30/2020	2,388
AllianceBernstein LP	80,021	0.47	2,321,409	6/30/2020	0
TIAA	70,661	0.41	2,049,876	9/30/2020	13,245
Stifel Asset Management Corp.	55,000	0.32	1,595,550	9/30/2020	(15,054)
Dimensional Fund Advisors LP	38,301	0.22	1,111,112	9/30/2020	11,072
Russell Investment Management LLC	38,113	0.22	1,105,658	9/30/2020	12,295
First Trust Advisors LP	36,367	0.21	1,055,007	9/30/2020	36,367

Displaying 1 to 20 (of 81)

Institutional Ownership

Institutional Ownership

Total Positions

New Positions

Increased Positions

Decreased Positions

Soldout Positions

Net Change

List of possible reasons behind the infrequent cases where we have total institutional ownership that exceeds 100% of the common shares outstanding for a specific company:

Double-counting - On the 13-F filing, each institutional holder must report all securities over which they exercise sole or shared investment discretion. In cases where investment discretion is shared by more than one institution, care is generally taken to prevent double-counting, but there is always the exception. Another cause of double-counting is a company name change for the 13F filer where the holdings are accounted for under both filer names.

Short Interest - A large short interest amount affects the institutional ownership amount considerably because all shares that have been sold short appear as holdings in two separate portfolios. One institution has lent its shares to a short seller, while the same shares have been purchased by another reporting institution. Consequently, the institutional ownership percentage reflected in the 13-F filings is overstated as a percentage of total shares outstanding.

A gap between 'as of' dates - In the case where gaps between the 'as of' dates of the holdings and the shares outstanding arise, the percentage owned could be skewed due to a sharp increase/decrease in shares out. Again, this case doesn’t come up very often but the results are unavoidable.

Other possible reasons: a) An overlap occurs amongst reporting institutions; b) The 13F filing includes holdings other than common stock issues; c) Mutual fund money is co-advised and incorrectly reported by multiple institutions.