Institutional Ownership

Ownership > 100%

Ownership Information

Shares Outstanding

17,361,266

Short Interest Shares

143,913

Float (%)

81.57

Institutional Ownership (%)

42.72

Mutual Fund Ownership (%)

13.79

Insider Ownership (%)

18.43

Top 10 Instn Holders (%)

34.30

Ownership Activity - Total Positions

Company	Shares	% Out	Value ($)	Reported	Change
Alerus Financial Corp.	2,033,018	11.71	61,031,200	12/31/2020	(48,066)
BlackRock Inc.	825,024	4.75	24,767,220	12/31/2020	50,071
Vanguard Group Inc.	434,293	2.50	13,037,476	12/31/2020	48,167
Endeavour Capital Advisors Inc.	367,111	2.11	11,020,672	12/31/2020	(73,327)
Goldman Sachs Asset Management LP	328,018	1.89	9,847,100	12/31/2020	(8,902)
State Street Global Advisors Inc.	273,179	1.57	8,200,834	12/31/2020	46,738
Northern Trust Global Investments	214,130	1.23	6,428,183	12/31/2020	(5,625)
Banc Funds Co. LLC	208,000	1.20	6,244,160	12/31/2020	(7,000)
Brown Advisory Inc.	201,004	1.16	6,034,140	12/31/2020	368
Geode Capital Management LLC	186,229	1.07	5,590,595	12/31/2020	8,972
M3F Inc.	146,686	0.84	4,403,514	12/31/2020	(72,288)
John W. Rosenthal Capital Management Inc.	120,000	0.69	3,602,400	12/31/2020	0
Charles Schwab Investment Management Inc.	95,742	0.55	2,874,175	12/31/2020	9,104
BNY Asset Management	95,561	0.55	2,868,741	12/31/2020	14,303
TIAA	70,610	0.41	2,119,712	12/31/2020	(51)
Stifel Asset Management Corp.	55,000	0.32	1,651,100	12/31/2020	0
Morgan Stanley	49,598	0.29	1,488,932	12/31/2020	33,283
Dimensional Fund Advisors LP	45,716	0.26	1,372,394	12/31/2020	7,415
Cetera Investment Advisers LLC	41,212	0.24	1,237,184	12/31/2020	41,212
JPMorgan Chase & Co.	40,994	0.24	1,230,640	12/31/2020	28,952

Displaying 1 to 20 (of 82)

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.