ACCREDITED INVESTORS INC.

PrivateCIK: 1518364

Location

EDINA, MN

299

Positions

$2.31B

Total AUM (reported)

22.80M

Total Shares

Allocation by class

COM$422.72M18.3%

INTL SMCP VLU$276.73M12.0%

ALLWRLD EX US$138.02M6.0%

US BRD MKT ETF$128.69M5.6%

VALUE ETF$127.27M5.5%

RUSSELL 2000 ETF$109.90M4.7%

CORE S&P MCP ETF$107.56M4.6%

Portfolio Concentration

Top 3$553.33M23.9%

4–10$761.26M32.9%

11–25$569.74M24.6%

Rest$429.94M18.6%

Top 3 weight

23.9%

Top 10 weight

56.8%

Voting Authority Distribution

Total shares with voting rights: 22.80M

Sole

Full voting authority

21.49M

% of voting shares94.3%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

1.31M

% of voting shares5.7%

Investment Discretion (by position count)

Sole299

Shared0

Other0

Dominant voting typeSole · 94.3% of voting shares

Institutional Holdings299

Rows:

AMERICAN CENTY ETF TR

SOLE

INTL SMCP VLU

Shares2.69M

TypeSH

Market value$276.73M

11.96%

Sole

2.53M

Shared

0.00

None

156.15K

SEZZLE INC

SOLE

COM

Shares807.44K

TypeSH

Market value$138.58M

5.99%

Sole

807.44K

Shared

0.00

None

0.00

VANGUARD INTL EQUITY INDEX F

SOLE

ALLWRLD EX US

Shares1.65M

TypeSH

Market value$138.02M

5.96%

Sole

1.54M

Shared

0.00

None

108.23K

SCHWAB STRATEGIC TR

SOLE

US BRD MKT ETF

Shares4.44M

TypeSH

Market value$128.69M

5.56%

Sole

4.23M

Shared

0.00

None

215.98K

VANGUARD INDEX FDS

SOLE

VALUE ETF

Shares584K

TypeSH

Market value$127.27M

5.50%

Sole

547.32K

Shared

0.00

None

36.68K

ISHARES TR

SOLE

RUSSELL 2000 ETF

Shares365.77K

TypeSH

Market value$109.90M

4.75%

Sole

347.32K

Shared

0.00

None

18.45K

ISHARES TR

SOLE

CORE S&P MCP ETF

Shares1.39M

TypeSH

Market value$107.56M

4.65%

Sole

1.33M

Shared

0.00

None

63.52K

ISHARES TR

SOLE

CORE S&P500 ETF

Shares138.18K

TypeSH

Market value$103.48M

4.47%

Sole

134.87K

Shared

0.00

None

3.31K

ISHARES TR

SOLE

CORE S&P SCP ETF

Shares674.82K

TypeSH

Market value$100.08M

4.32%

Sole

632.36K

Shared

0.00

None

42.46K

UNITED PARCEL SVCS INC

SOLE

CL B

Shares783.98K

TypeSH

Market value$84.28M

3.64%

Sole

783.98K

Shared

0.00

None

0.00

BERKSHIRE HATHAWAY INC DEL

SOLE

CL A

Shares93.00

TypeSH

Market value$69.64M

3.01%

Sole

93.00

Shared

0.00

None

0.00

APPLE INC

SOLE

COM

Shares201.55K

TypeSH

Market value$58.32M

2.52%

Sole

194.08K

Shared

0.00

None

7.46K

ISHARES TR

SOLE

MSCI EAFE ETF

Shares546.67K

TypeSH

Market value$56.79M

2.45%

Sole

509.39K

Shared

0.00

None

37.27K

AMAZON COM INC

SOLE

COM

Shares235.47K

TypeSH

Market value$56.12M

2.43%

Sole

128.03K

Shared

0.00

None

107.44K

VANGUARD MALVERN FDS

SOLE

STRM INFPROIDX

Shares1.01M

TypeSH

Market value$50.95M

2.20%

Sole

958.80K

Shared

0.00

None

55.58K

ISHARES TR

SOLE

RUS 1000 GRW ETF

Shares363.80K

TypeSH

Market value$45.17M

1.95%

Sole

354.91K

Shared

0.00

None

8.89K

SPDR SERIES TRUST

SOLE

ST STR P500VAL

Shares701.72K

TypeSH

Market value$42.66M

1.84%

Sole

667.99K

Shared

0.00

None

33.74K

VANGUARD INTL EQUITY INDEX F

SOLE

TT WRLD ST ETF

Shares225.13K

TypeSH

Market value$35.33M

1.53%

Sole

214.74K

Shared

0.00

None

10.39K

BERKSHIRE HATHAWAY INC DEL

SOLE

CL B NEW

Shares51.30K

TypeSH

Market value$25.67M

1.11%

Sole

49.43K

Shared

0.00

None

1.87K

C H ROBINSON WORLDWIDE IN

SOLE

COM NEW

Shares133.22K

TypeSH

Market value$25.09M

1.08%

Sole

61.11K

Shared

0.00

None

72.11K

ISHARES TR

SOLE

RUS MD CP GR ETF

Shares170.30K

TypeSH

Market value$24.93M

1.08%

Sole

163.68K

Shared

0.00

None

6.63K

VANGUARD TAX-MANAGED FDS

SOLE

VAN FTSE DEV MKT

Shares328.57K

TypeSH

Market value$23.41M

1.01%

Sole

324.84K

Shared

0.00

None

3.73K

ROBLOX CORP

SOLE

CL A

Shares376.57K

TypeSH

Market value$20.48M

0.88%

Sole

376.57K

Shared

0.00

None

0.00

ISHARES TR

SOLE

EAFE VALUE ETF

Shares231.53K

TypeSH

Market value$17.72M

0.77%

Sole

218.16K

Shared

0.00

None

13.36K

STATE STR SPDR S&P 500 ETF T

SOLE

TR UNIT

Shares23.36K

TypeSH

Market value$17.44M

0.75%

Sole

22.62K

Shared

0.00

None

738.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
AMERICAN CENTY ETF TRSOLE	INTL SMCP VLU	2.69M	SH	$276.73M 11.96%	2.53M	156.15K
SEZZLE INCSOLE	COM	807.44K	SH	$138.58M 5.99%	807.44K	0.00
VANGUARD INTL EQUITY INDEX FSOLE	ALLWRLD EX US	1.65M	SH	$138.02M 5.96%	1.54M	108.23K
SCHWAB STRATEGIC TRSOLE	US BRD MKT ETF	4.44M	SH	$128.69M 5.56%	4.23M	215.98K
VANGUARD INDEX FDSSOLE	VALUE ETF	584K	SH	$127.27M 5.50%	547.32K	36.68K
ISHARES TRSOLE	RUSSELL 2000 ETF	365.77K	SH	$109.90M 4.75%	347.32K	18.45K
ISHARES TRSOLE	CORE S&P MCP ETF	1.39M	SH	$107.56M 4.65%	1.33M	63.52K
ISHARES TRSOLE	CORE S&P500 ETF	138.18K	SH	$103.48M 4.47%	134.87K	3.31K
ISHARES TRSOLE	CORE S&P SCP ETF	674.82K	SH	$100.08M 4.32%	632.36K	42.46K
UNITED PARCEL SVCS INCSOLE	CL B	783.98K	SH	$84.28M 3.64%	783.98K	0.00
BERKSHIRE HATHAWAY INC DELSOLE	CL A	93.00	SH	$69.64M 3.01%	93.00	0.00
APPLE INCSOLE	COM	201.55K	SH	$58.32M 2.52%	194.08K	7.46K
ISHARES TRSOLE	MSCI EAFE ETF	546.67K	SH	$56.79M 2.45%	509.39K	37.27K
AMAZON COM INCSOLE	COM	235.47K	SH	$56.12M 2.43%	128.03K	107.44K
VANGUARD MALVERN FDSSOLE	STRM INFPROIDX	1.01M	SH	$50.95M 2.20%	958.80K	55.58K
ISHARES TRSOLE	RUS 1000 GRW ETF	363.80K	SH	$45.17M 1.95%	354.91K	8.89K
SPDR SERIES TRUSTSOLE	ST STR P500VAL	701.72K	SH	$42.66M 1.84%	667.99K	33.74K
VANGUARD INTL EQUITY INDEX FSOLE	TT WRLD ST ETF	225.13K	SH	$35.33M 1.53%	214.74K	10.39K
BERKSHIRE HATHAWAY INC DELSOLE	CL B NEW	51.30K	SH	$25.67M 1.11%	49.43K	1.87K
C H ROBINSON WORLDWIDE INSOLE	COM NEW	133.22K	SH	$25.09M 1.08%	61.11K	72.11K
ISHARES TRSOLE	RUS MD CP GR ETF	170.30K	SH	$24.93M 1.08%	163.68K	6.63K
VANGUARD TAX-MANAGED FDSSOLE	VAN FTSE DEV MKT	328.57K	SH	$23.41M 1.01%	324.84K	3.73K
ROBLOX CORPSOLE	CL A	376.57K	SH	$20.48M 0.88%	376.57K	0.00
ISHARES TRSOLE	EAFE VALUE ETF	231.53K	SH	$17.72M 0.77%	218.16K	13.36K
STATE STR SPDR S&P 500 ETF TSOLE	TR UNIT	23.36K	SH	$17.44M 0.75%	22.62K	738.00

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