ACCREDITED INVESTORS INC.

PrivateCIK: 1518364

Location

EDINA, MN

281

Positions

$1.86B

Total AUM (reported)

20.12M

Total Shares

Allocation by class

COM$307.50M16.6%

INTL SMCP VLU$263.02M14.2%

US BRD MKT ETF$115.64M6.2%

VALUE ETF$107.41M5.8%

CL A$96.79M5.2%

CORE S&P MCP ETF$95.48M5.1%

RUSSELL 2000 ETF$88.04M4.7%

Portfolio Concentration

Top 3$486.08M26.2%

4–10$554.10M29.9%

11–25$445.13M24.0%

Rest$370.34M20.0%

Top 3 weight

26.2%

Top 10 weight

56.1%

Voting Authority Distribution

Total shares with voting rights: 20.12M

Sole

Full voting authority

19.07M

% of voting shares94.8%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

1.05M

% of voting shares5.2%

Investment Discretion (by position count)

Sole281

Shared0

Other0

Dominant voting typeSole · 94.8% of voting shares

Institutional Holdings281

Rows:

AMERICAN CENTY ETF TR

SOLE

INTL SMCP VLU

Shares2.63M

TypeSH

Market value$263.02M

14.17%

Sole

2.50M

Shared

0.00

None

132.93K

SCHWAB STRATEGIC TR

SOLE

US BRD MKT ETF

Shares4.61M

TypeSH

Market value$115.64M

6.23%

Sole

4.37M

Shared

0.00

None

241.80K

VANGUARD INDEX FDS

SOLE

VALUE ETF

Shares547.48K

TypeSH

Market value$107.41M

5.79%

Sole

511.94K

Shared

0.00

None

35.53K

ISHARES TR

SOLE

CORE S&P MCP ETF

Shares1.41M

TypeSH

Market value$95.48M

5.15%

Sole

1.35M

Shared

0.00

None

65.97K

ISHARES TR

SOLE

RUSSELL 2000 ETF

Shares355K

TypeSH

Market value$88.04M

4.74%

Sole

341.03K

Shared

0.00

None

13.97K

ISHARES TR

SOLE

CORE S&P500 ETF

Shares134.71K

TypeSH

Market value$88.00M

4.74%

Sole

131.30K

Shared

0.00

None

3.41K

ISHARES TR

SOLE

CORE S&P SCP ETF

Shares664.31K

TypeSH

Market value$82.58M

4.45%

Sole

626.16K

Shared

0.00

None

38.15K

UNITED PARCEL SVCS INC

SOLE

CL B

Shares783.70K

TypeSH

Market value$77.10M

4.15%

Sole

783.70K

Shared

0.00

None

0.00

BERKSHIRE HATHAWAY INC DEL

SOLE

CL A

Shares93.00

TypeSH

Market value$66.79M

3.60%

Sole

93.00

Shared

0.00

None

0.00

SEZZLE INC

SOLE

COM

Shares886.64K

TypeSH

Market value$56.12M

3.02%

Sole

886.64K

Shared

0.00

None

0.00

ISHARES TR

SOLE

MSCI EAFE ETF

Shares572.15K

TypeSH

Market value$55.57M

2.99%

Sole

563.22K

Shared

0.00

None

8.93K

APPLE INC

SOLE

COM

Shares214.24K

TypeSH

Market value$54.37M

2.93%

Sole

209.04K

Shared

0.00

None

5.20K

AMAZON COM INC

SOLE

COM

Shares222.75K

TypeSH

Market value$46.39M

2.50%

Sole

108.22K

Shared

0.00

None

114.53K

SPDR SERIES TRUST

SOLE

STATE STREET SPD

Shares723.05K

TypeSH

Market value$40.91M

2.20%

Sole

696.35K

Shared

0.00

None

26.70K

ISHARES TR

SOLE

RUS 1000 GRW ETF

Shares92.37K

TypeSH

Market value$39.39M

2.12%

Sole

90.19K

Shared

0.00

None

2.18K

VANGUARD INTL EQUITY INDEX F

SOLE

TT WRLD ST ETF

Shares225.31K

TypeSH

Market value$31.16M

1.68%

Sole

210.59K

Shared

0.00

None

14.72K

BERKSHIRE HATHAWAY INC DEL

SOLE

CL B NEW

Shares57.58K

TypeSH

Market value$27.59M

1.49%

Sole

56.20K

Shared

0.00

None

1.37K

ISHARES TR

SOLE

RUS MD CP GR ETF

Shares176.11K

TypeSH

Market value$22.56M

1.22%

Sole

171.70K

Shared

0.00

None

4.41K

C H ROBINSON WORLDWIDE IN

SOLE

COM NEW

Shares132.57K

TypeSH

Market value$22.02M

1.19%

Sole

61.11K

Shared

0.00

None

71.46K

VANGUARD TAX-MANAGED FDS

SOLE

VAN FTSE DEV MKT

Shares339.21K

TypeSH

Market value$21.74M

1.17%

Sole

335.48K

Shared

0.00

None

3.73K

ROBLOX CORP

SOLE

CL A

Shares376.57K

TypeSH

Market value$21.30M

1.15%

Sole

376.57K

Shared

0.00

None

0.00

ISHARES TR

SOLE

EAFE VALUE ETF

Shares234.80K

TypeSH

Market value$17.46M

0.94%

Sole

229.44K

Shared

0.00

None

5.36K

STATE STR SPDR S&P 500 ETF T

SOLE

TR UNIT

Shares23.58K

TypeSH

Market value$15.33M

0.83%

Sole

23.25K

Shared

0.00

None

332.00

MICROSOFT CORP

SOLE

COM

Shares41.24K

TypeSH

Market value$15.27M

0.82%

Sole

40.77K

Shared

0.00

None

465.00

ISHARES TR

SOLE

ESG AWARE MSCI

Shares299.19K

TypeSH

Market value$14.07M

0.76%

Sole

273.07K

Shared

0.00

None

26.12K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
AMERICAN CENTY ETF TRSOLE	INTL SMCP VLU	2.63M	SH	$263.02M 14.17%	2.50M	132.93K
SCHWAB STRATEGIC TRSOLE	US BRD MKT ETF	4.61M	SH	$115.64M 6.23%	4.37M	241.80K
VANGUARD INDEX FDSSOLE	VALUE ETF	547.48K	SH	$107.41M 5.79%	511.94K	35.53K
ISHARES TRSOLE	CORE S&P MCP ETF	1.41M	SH	$95.48M 5.15%	1.35M	65.97K
ISHARES TRSOLE	RUSSELL 2000 ETF	355K	SH	$88.04M 4.74%	341.03K	13.97K
ISHARES TRSOLE	CORE S&P500 ETF	134.71K	SH	$88.00M 4.74%	131.30K	3.41K
ISHARES TRSOLE	CORE S&P SCP ETF	664.31K	SH	$82.58M 4.45%	626.16K	38.15K
UNITED PARCEL SVCS INCSOLE	CL B	783.70K	SH	$77.10M 4.15%	783.70K	0.00
BERKSHIRE HATHAWAY INC DELSOLE	CL A	93.00	SH	$66.79M 3.60%	93.00	0.00
SEZZLE INCSOLE	COM	886.64K	SH	$56.12M 3.02%	886.64K	0.00
ISHARES TRSOLE	MSCI EAFE ETF	572.15K	SH	$55.57M 2.99%	563.22K	8.93K
APPLE INCSOLE	COM	214.24K	SH	$54.37M 2.93%	209.04K	5.20K
AMAZON COM INCSOLE	COM	222.75K	SH	$46.39M 2.50%	108.22K	114.53K
SPDR SERIES TRUSTSOLE	STATE STREET SPD	723.05K	SH	$40.91M 2.20%	696.35K	26.70K
ISHARES TRSOLE	RUS 1000 GRW ETF	92.37K	SH	$39.39M 2.12%	90.19K	2.18K
VANGUARD INTL EQUITY INDEX FSOLE	TT WRLD ST ETF	225.31K	SH	$31.16M 1.68%	210.59K	14.72K
BERKSHIRE HATHAWAY INC DELSOLE	CL B NEW	57.58K	SH	$27.59M 1.49%	56.20K	1.37K
ISHARES TRSOLE	RUS MD CP GR ETF	176.11K	SH	$22.56M 1.22%	171.70K	4.41K
C H ROBINSON WORLDWIDE INSOLE	COM NEW	132.57K	SH	$22.02M 1.19%	61.11K	71.46K
VANGUARD TAX-MANAGED FDSSOLE	VAN FTSE DEV MKT	339.21K	SH	$21.74M 1.17%	335.48K	3.73K
ROBLOX CORPSOLE	CL A	376.57K	SH	$21.30M 1.15%	376.57K	0.00
ISHARES TRSOLE	EAFE VALUE ETF	234.80K	SH	$17.46M 0.94%	229.44K	5.36K
STATE STR SPDR S&P 500 ETF TSOLE	TR UNIT	23.58K	SH	$15.33M 0.83%	23.25K	332.00
MICROSOFT CORPSOLE	COM	41.24K	SH	$15.27M 0.82%	40.77K	465.00
ISHARES TRSOLE	ESG AWARE MSCI	299.19K	SH	$14.07M 0.76%	273.07K	26.12K

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