# Bremer Bank National Association

> Institutional holdings reported to the SEC as of Q1 2025 on Form 13F. CIK 1775321. Source: https://holderbook.com/funds/1775321-bremer-bank-national-association/

- Reported value: $561.6M
- Positions: 176
- Weight of the ten largest: 34.6%
- Filed: 2025-04-10

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $52.9M | 94,643 | 9.4% | 25 |
| ISHARES TR | [AGG](https://holderbook.com/stocks/AGG/) | $31.1M | 314,328 | 5.5% | 25 |
| ISHARES TR | [ACWI](https://holderbook.com/stocks/ACWI/) | $22.5M | 193,622 | 4.0% | 15 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $19.0M | 85,676 | 3.4% | 25 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $14.0M | 129,415 | 2.5% | 25 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $11.6M | 20,665 | 2.1% | 25 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $11.1M | 55,521 | 2.0% | 25 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $11.0M | 13,339 | 2.0% | 25 |
| VANGUARD SCOTTSDALE FDS | [VGIT](https://holderbook.com/stocks/VGIT/) | $10.8M | 181,149 | 1.9% | 10 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $9.9M | 59,832 | 1.8% | 14 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $9.9M | 169,813 | 1.8% | 25 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $9.6M | 25,561 | 1.7% | 25 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $9.5M | 10,158 | 1.7% | 25 |
| ISHARES TR | [IWB](https://holderbook.com/stocks/IWB/) | $9.2M | 30,091 | 1.6% | 1 |
| ISHARES INC | [EWW](https://holderbook.com/stocks/EWW/) | $9.2M | 180,407 | 1.6% | 2 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $8.8M | 116,403 | 1.6% | 25 |
| ISHARES TR | [IDEV](https://holderbook.com/stocks/IDEV/) | $8.1M | 116,913 | 1.4% | 5 |
| CHIPOTLE MEXICAN GRILL INC | [CMG](https://holderbook.com/stocks/CMG/) | $8.0M | 160,128 | 1.4% | 20 |
| T-MOBILE US INC | [TMUS](https://holderbook.com/stocks/TMUS/) | $8.0M | 30,069 | 1.4% | 14 |
| AMERIPRISE FINL INC | [AMP](https://holderbook.com/stocks/AMP/) | $7.9M | 16,224 | 1.4% | 25 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $7.8M | 15,205 | 1.4% | 13 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $7.8M | 8,206 | 1.4% | 25 |
| VANGUARD WHITEHALL FDS | [VYM](https://holderbook.com/stocks/VYM/) | $7.7M | 59,633 | 1.4% | 25 |
| ARISTA NETWORKS INC | [ANET](https://holderbook.com/stocks/ANET/) | $7.5M | 96,698 | 1.3% | 1 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $6.8M | 11,872 | 1.2% | 25 |
| TRANE TECHNOLOGIES PLC | [TT](https://holderbook.com/stocks/TT/) | $6.8M | 20,173 | 1.2% | 5 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $6.6M | 26,727 | 1.2% | 5 |
| BLACKSTONE INC | [BX](https://holderbook.com/stocks/BX/) | $6.4M | 45,717 | 1.1% | 16 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $6.3M | 23,558 | 1.1% | 6 |
| STATE STR SPDR DOW JONES IND | [DIA](https://holderbook.com/stocks/DIA/) | $6.3M | 14,934 | 1.1% | 14 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $6.1M | 43,616 | 1.1% | 25 |
| GE HEALTHCARE TECHNOLOGIES I | [GEHC](https://holderbook.com/stocks/GEHC/) | $6.0M | 73,940 | 1.1% | 2 |
| DICKS SPORTING GOODS INC | [DKS](https://holderbook.com/stocks/DKS/) | $5.9M | 29,360 | 1.1% | 4 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $5.5M | 32,044 | 1.0% | 25 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $5.3M | 51,036 | 1.0% | 25 |
| QUANTA SVCS INC | [PWR](https://holderbook.com/stocks/PWR/) | $5.3M | 20,854 | 0.9% | 11 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $5.3M | 32,120 | 0.9% | 1 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $5.3M | 9,642 | 0.9% | 25 |
| KROGER CO | [KR](https://holderbook.com/stocks/KR/) | $5.2M | 76,667 | 0.9% | 4 |
| SELECT SECTOR SPDR TR | [XLB](https://holderbook.com/stocks/XLB/) | $5.0M | 58,602 | 0.9% | 1 |
| SELECT SECTOR SPDR TR | [XLI](https://holderbook.com/stocks/XLI/) | $5.0M | 38,413 | 0.9% | 1 |
| PHILLIPS 66 | [PSX](https://holderbook.com/stocks/PSX/) | $5.0M | 40,553 | 0.9% | 6 |
| SOUTHERN CO | [SO](https://holderbook.com/stocks/SO/) | $4.8M | 52,595 | 0.9% | 25 |
| SHELL PLC | [SHEL](https://holderbook.com/stocks/SHEL/) | $4.8M | 64,926 | 0.8% | 6 |
| ISHARES TR | [SOXX](https://holderbook.com/stocks/SOXX/) | $4.7M | 25,166 | 0.8% | 1 |
| LULULEMON ATHLETICA INC | [LULU](https://holderbook.com/stocks/LULU/) | $4.6M | 16,375 | 0.8% | 14 |
| DUPONT DE NEMOURS INC | [DD](https://holderbook.com/stocks/DD/) | $4.6M | 61,855 | 0.8% | 19 |
| SPDR SERIES TRUST | [XBI](https://holderbook.com/stocks/XBI/) | $4.6M | 56,179 | 0.8% | 13 |
| FIDELITY NATL INFORMATION SV | [FIS](https://holderbook.com/stocks/FIS/) | $4.5M | 60,424 | 0.8% | 7 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $4.4M | 18,731 | 0.8% | 25 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $4.2M | 13,633 | 0.8% | 10 |
| WISDOMTREE TR | [WCLD](https://holderbook.com/stocks/WCLD/) | $4.2M | 129,055 | 0.7% | 13 |
| NXP SEMICONDUCTORS N V | [NXPI](https://holderbook.com/stocks/NXPI/) | $3.9M | 20,638 | 0.7% | 12 |
| QUEST DIAGNOSTICS INC | [DGX](https://holderbook.com/stocks/DGX/) | $3.9M | 23,161 | 0.7% | 1 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $3.6M | 14,873 | 0.6% | 25 |
| VANGUARD WHITEHALL FDS | [VYMI](https://holderbook.com/stocks/VYMI/) | $3.6M | 48,343 | 0.6% | 10 |
| JACOBS SOLUTIONS INC | [J](https://holderbook.com/stocks/J/) | $3.5M | 28,964 | 0.6% | 10 |
| TOLL BROTHERS INC | [TOL](https://holderbook.com/stocks/TOL/) | $3.3M | 31,008 | 0.6% | 8 |
| AVALONBAY CMNTYS INC | [AVB](https://holderbook.com/stocks/AVB/) | $3.1M | 14,561 | 0.6% | 10 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $2.5M | 46,624 | 0.4% | 5 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $2.5M | 15,694 | 0.4% | 25 |
| GLOBAL X FDS | [CATH](https://holderbook.com/stocks/CATH/) | $2.4M | 35,974 | 0.4% | 25 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $2.4M | 3 | 0.4% | 25 |
| ISHARES TR | [IWR](https://holderbook.com/stocks/IWR/) | $2.3M | 26,848 | 0.4% | 17 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $2.2M | 11,437 | 0.4% | 25 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $2.1M | 26,059 | 0.4% | 25 |
| ISHARES TR | [EEM](https://holderbook.com/stocks/EEM/) | $2.1M | 48,388 | 0.4% | 25 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $2.1M | 3,861 | 0.4% | 25 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $2.0M | 12,619 | 0.3% | 25 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $1.6M | 4,315 | 0.3% | 25 |
| NVR INC | [NVR](https://holderbook.com/stocks/NVR/) | $1.5M | 203 | 0.3% | 25 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $1.4M | 2,718 | 0.2% | 25 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $1.3M | 2,430 | 0.2% | 25 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $1.1M | 18,070 | 0.2% | 25 |
| ISHARES TR | [IJJ](https://holderbook.com/stocks/IJJ/) | $1.1M | 8,962 | 0.2% | 25 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $1.0M | 7,660 | 0.2% | 25 |
| STATE STR SPDR S&P MIDCAP 40 | [MDY](https://holderbook.com/stocks/MDY/) | $991.2K | 1,858 | 0.2% | 25 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $902.8K | 2,576 | 0.2% | 25 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $860.9K | 4,984 | 0.2% | 25 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $838.2K | 5,006 | 0.1% | 18 |
| ELEVANCE HEALTH INC FORMERLY | [ELV](https://holderbook.com/stocks/ELV/) | $777.7K | 1,788 | 0.1% | 25 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $750.0K | 2,401 | 0.1% | 25 |
| ON SEMICONDUCTOR CORP | [ON](https://holderbook.com/stocks/ON/) | $747.0K | 18,358 | 0.1% | 25 |
| VANGUARD SCOTTSDALE FDS | [VCSH](https://holderbook.com/stocks/VCSH/) | $725.1K | 9,185 | 0.1% | 25 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $717.2K | 1,528 | 0.1% | 25 |
| UNITED RENTALS INC | [URI](https://holderbook.com/stocks/URI/) | $713.2K | 1,138 | 0.1% | 20 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $705.7K | 9,830 | 0.1% | 25 |
| ISHARES TR | [HYG](https://holderbook.com/stocks/HYG/) | $701.5K | 8,892 | 0.1% | 12 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $689.3K | 1,909 | 0.1% | 25 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $680.9K | 7,756 | 0.1% | 25 |
| ISHARES TR | [IAGG](https://holderbook.com/stocks/IAGG/) | $678.9K | 13,581 | 0.1% | 5 |
| HONEYWELL INTL INC | [HONZZZZ](https://holderbook.com/stocks/HONZZZZ/) | $675.3K | 3,189 | 0.1% | 25 |
| OTTER TAIL CORP | [OTTR](https://holderbook.com/stocks/OTTR/) | $673.8K | 8,384 | 0.1% | 12 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $670.5K | 3,200 | 0.1% | 25 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $649.6K | 141 | 0.1% | 25 |
| VANGUARD WORLD FD | [ESGV](https://holderbook.com/stocks/ESGV/) | $634.9K | 6,482 | 0.1% | 5 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $617.3K | 1,130 | 0.1% | 25 |
| BLACKROCK INC | [BLK](https://holderbook.com/stocks/BLK/) | $616.2K | 651 | 0.1% | 1 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $614.9K | 6,850 | 0.1% | 25 |
| CENTERSPACE | [CSR](https://holderbook.com/stocks/CSR/) | $577.8K | 8,923 | 0.1% | 17 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q1 2025 | -3.8% | -4.6% | +0.8% | 100% |
| Q4 2024 | +0.8% | +2.1% | -1.4% | 100% |
| Q3 2024 | +5.3% | +5.4% | -0.1% | 100% |
| Q2 2024 | +3.5% | +4.0% | -0.6% | 100% |
| Q1 2024 | +9.4% | +10.0% | -0.6% | 100% |
| Q4 2023 | +11.5% | +11.2% | +0.3% | 100% |
| Q3 2023 | -3.6% | -3.6% | -0.0% | 100% |
| Q2 2023 | +7.3% | +8.3% | -1.0% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2025 | $561.6M | 176 |
| Q4 2024 | $505.5M | 165 |
| Q3 2024 | $530.2M | 172 |
| Q2 2024 | $512.2M | 178 |
| Q1 2024 | $539.9M | 188 |
| Q4 2023 | $536.2M | 181 |
| Q3 2023 | $505.5M | 190 |
| Q2 2023 | $524.5M | 198 |
| Q1 2023 | $517.2M | 193 |
| Q4 2022 | $518.5M | 203 |
| Q3 2022 | $448.6M | 190 |
| Q2 2022 | $521.7M | 216 |