# Accredited Investors Inc.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1518364. Source: https://holderbook.com/funds/1518364-accredited-investors-inc/

- Reported value: $2.3B
- Positions: 299
- Weight of the ten largest: 56.8%
- Filed: 2026-07-21

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 |
|---|---|---|---|---|---|
| AMERICAN CENTY ETF TR | [AVDV](https://holderbook.com/stocks/AVDV/) | $276.7M | 2,685,375 | 12.0% | 15 |
| SEZZLE INC | [SEZL](https://holderbook.com/stocks/SEZL/) | $138.6M | 807,442 | 6.0% | 3 |
| VANGUARD INTL EQUITY INDEX F | [VEU](https://holderbook.com/stocks/VEU/) | $138.0M | 1,648,027 | 6.0% | 25 |
| SCHWAB STRATEGIC TR | [SCHB](https://holderbook.com/stocks/SCHB/) | $128.7M | 4,443,846 | 5.6% | 31 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $127.3M | 583,998 | 5.5% | 15 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $109.9M | 365,770 | 4.7% | 31 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $107.6M | 1,394,914 | 4.6% | 31 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $103.5M | 138,176 | 4.5% | 31 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $100.1M | 674,815 | 4.3% | 31 |
| UNITED PARCEL SVCS INC | [UPS](https://holderbook.com/stocks/UPS/) | $84.3M | 783,975 | 3.6% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $69.6M | 93 | 3.0% | 6 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $58.3M | 201,547 | 2.5% | 31 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $56.8M | 546,667 | 2.5% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $56.1M | 235,475 | 2.4% | 31 |
| VANGUARD MALVERN FDS | [VTIP](https://holderbook.com/stocks/VTIP/) | $51.0M | 1,014,386 | 2.2% | 1 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $45.2M | 363,802 | 2.0% | 31 |
| SPDR SERIES TRUST | [SPYV](https://holderbook.com/stocks/SPYV/) | $42.7M | 701,724 | 1.8% | 31 |
| VANGUARD INTL EQUITY INDEX F | [VT](https://holderbook.com/stocks/VT/) | $35.3M | 225,134 | 1.5% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $25.7M | 51,302 | 1.1% | 31 |
| C H ROBINSON WORLDWIDE IN | [CHRW](https://holderbook.com/stocks/CHRW/) | $25.1M | 133,220 | 1.1% | 31 |
| ISHARES TR | [IWP](https://holderbook.com/stocks/IWP/) | $24.9M | 170,300 | 1.1% | 31 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $23.4M | 328,571 | 1.0% | 19 |
| ROBLOX CORP | [RBLX](https://holderbook.com/stocks/RBLX/) | $20.5M | 376,574 | 0.9% | 22 |
| ISHARES TR | [EFV](https://holderbook.com/stocks/EFV/) | $17.7M | 231,526 | 0.8% | 22 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $17.4M | 23,357 | 0.8% | 31 |
| ISHARES TR | [ESML](https://holderbook.com/stocks/ESML/) | $16.9M | 302,150 | 0.7% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $15.4M | 41,190 | 0.7% | 31 |
| ISHARES TR | [EAGG](https://holderbook.com/stocks/EAGG/) | $13.6M | 286,286 | 0.6% | 24 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $12.9M | 64,436 | 0.6% | 24 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $12.8M | 36,281 | 0.6% | 31 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $11.6M | 51,844 | 0.5% | 31 |
| SCHWAB STRATEGIC TR | [FNDA](https://holderbook.com/stocks/FNDA/) | $10.1M | 266,452 | 0.4% | 17 |
| OLD NATL BANCORP IND | [ONB](https://holderbook.com/stocks/ONB/) | $9.5M | 366,545 | 0.4% | 8 |
| INVESCO EXCHANGE TRADED FD T | [PRFZ](https://holderbook.com/stocks/PRFZ/) | $9.0M | 161,715 | 0.4% | 31 |
| VANGUARD WORLD FD | [MGK](https://holderbook.com/stocks/MGK/) | $8.8M | 99,742 | 0.4% | 26 |
| VANGUARD INDEX FDS | [VO](https://holderbook.com/stocks/VO/) | $8.7M | 107,802 | 0.4% | 24 |
| ISHARES TR | [DMXF](https://holderbook.com/stocks/DMXF/) | $8.6M | 101,689 | 0.4% | 23 |
| ISHARES TR | [SUSA](https://holderbook.com/stocks/SUSA/) | $8.1M | 52,268 | 0.3% | 31 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $7.5M | 20,393 | 0.3% | 31 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $7.5M | 24,724 | 0.3% | 31 |
| ISHARES TR | [IWS](https://holderbook.com/stocks/IWS/) | $7.1M | 42,995 | 0.3% | 31 |
| ISHARES TR | [ESGD](https://holderbook.com/stocks/ESGD/) | $6.5M | 63,199 | 0.3% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $6.1M | 17,147 | 0.3% | 31 |
| VANGUARD INTL EQUITY INDEX F | [VGK](https://holderbook.com/stocks/VGK/) | $5.9M | 66,268 | 0.3% | 5 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $5.7M | 17,511 | 0.2% | 31 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $5.4M | 7,914 | 0.2% | 22 |
| ISHARES TR | [USXF](https://holderbook.com/stocks/USXF/) | $4.9M | 71,097 | 0.2% | 24 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $4.9M | 11,819 | 0.2% | 31 |
| 3M CO | [MMM](https://holderbook.com/stocks/MMM/) | $4.8M | 29,686 | 0.2% | 31 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $4.6M | 6,213 | 0.2% | 31 |
| ISHARES TR | [SUSB](https://holderbook.com/stocks/SUSB/) | $4.1M | 163,289 | 0.2% | 31 |
| GENERAL MILLS INC | [GIS](https://holderbook.com/stocks/GIS/) | $3.8M | 109,337 | 0.2% | 31 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $3.8M | 3,151 | 0.2% | 12 |
| VANGUARD STAR FDS | [VXUS](https://holderbook.com/stocks/VXUS/) | $3.6M | 42,307 | 0.2% | 20 |
| ISHARES TR | [IWD](https://holderbook.com/stocks/IWD/) | $3.6M | 14,861 | 0.2% | 31 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $3.5M | 6,270 | 0.2% | 31 |
| US BANCORP | [USB](https://holderbook.com/stocks/USB/) | $3.5M | 57,605 | 0.2% | 31 |
| ISHARES TR | [DSI](https://holderbook.com/stocks/DSI/) | $3.4M | 23,591 | 0.1% | 31 |
| ISHARES TR | [AGG](https://holderbook.com/stocks/AGG/) | $3.2M | 32,106 | 0.1% | 19 |
| LABCORP HOLDINGS INC | [LH](https://holderbook.com/stocks/LH/) | $3.0M | 10,650 | 0.1% | 2 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $2.9M | 8,322 | 0.1% | 27 |
| ISHARES TR | [IWB](https://holderbook.com/stocks/IWB/) | $2.8M | 6,915 | 0.1% | 31 |
| TACTILE SYS TECHNOLOGY INC | [TCMD](https://holderbook.com/stocks/TCMD/) | $2.8M | 94,880 | 0.1% | 13 |
| ISHARES TR | [ITOT](https://holderbook.com/stocks/ITOT/) | $2.8M | 16,910 | 0.1% | 31 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $2.7M | 8,300 | 0.1% | 13 |
| CELCUITY INC | [CELC](https://holderbook.com/stocks/CELC/) | $2.7M | 25,718 | 0.1% | 31 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $2.5M | 2,722 | 0.1% | 31 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $2.5M | 6,026 | 0.1% | 27 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $2.5M | 17,983 | 0.1% | 31 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $2.2M | 8,939 | 0.1% | 31 |
| QUANTA SVCS INC | [PWR](https://holderbook.com/stocks/PWR/) | $2.2M | 3,093 | 0.1% | 3 |
| ISHARES TR | [EUSB](https://holderbook.com/stocks/EUSB/) | $2.2M | 51,114 | 0.1% | 7 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $2.1M | 5,630 | 0.1% | 20 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $2.1M | 1,935 | 0.1% | 23 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $2.0M | 7,952 | 0.1% | 31 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $2.0M | 5,695 | 0.1% | 31 |
| SCHWAB STRATEGIC TR | [SCHG](https://holderbook.com/stocks/SCHG/) | $2.0M | 58,451 | 0.1% | 26 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $2.0M | 5,192 | 0.1% | 11 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $1.8M | 2,554 | 0.1% | 29 |
| SPDR INDEX SHS FDS | [GWX](https://holderbook.com/stocks/GWX/) | $1.8M | 42,155 | 0.1% | 26 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $1.8M | 1,597 | 0.1% | 3 |
| XCEL ENERGY INC | [XEL](https://holderbook.com/stocks/XEL/) | $1.8M | 22,412 | 0.1% | 31 |
| GRACO INC | [GGG](https://holderbook.com/stocks/GGG/) | $1.8M | 23,739 | 0.1% | 31 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $1.8M | 12,096 | 0.1% | 31 |
| STATE STR SPDR S&P MIDCAP 40 | [MDY](https://holderbook.com/stocks/MDY/) | $1.8M | 2,497 | 0.1% | 15 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $1.7M | 30,566 | 0.1% | 31 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $1.6M | 14,323 | 0.1% | 31 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $1.6M | 12,543 | 0.1% | 31 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $1.6M | 4,673 | 0.1% | 31 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $1.6M | 1,320 | 0.1% | 9 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $1.5M | 12,951 | 0.1% | 31 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $1.5M | 3,137 | 0.1% | 10 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $1.5M | 3,447 | 0.1% | 1 |
| CADENCE DESIGN SYSTEM INC | [CDNS](https://holderbook.com/stocks/CDNS/) | $1.5M | 3,914 | 0.1% | 31 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $1.5M | 9,970 | 0.1% | 31 |
| AMERICAN CENTY ETF TR | [AVDE](https://holderbook.com/stocks/AVDE/) | $1.5M | 16,377 | 0.1% | 3 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $1.4M | 4,102 | 0.1% | 9 |
| FASTENAL CO | [FAST](https://holderbook.com/stocks/FAST/) | $1.4M | 29,043 | 0.1% | 23 |
| ISHARES TR | [IYW](https://holderbook.com/stocks/IYW/) | $1.3M | 5,307 | 0.1% | 15 |
| ISHARES TR | [IVW](https://holderbook.com/stocks/IVW/) | $1.3M | 9,672 | 0.1% | 31 |

## 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 |
|---|---|---|---|---|
| Q2 2026 | +16.2% | +14.8% | +1.4% | 100% |
| Q1 2026 | -1.7% | -4.6% | +2.9% | 100% |
| Q4 2025 | +2.1% | +2.4% | -0.3% | 100% |
| Q3 2025 | +7.4% | +7.8% | -0.4% | 100% |
| Q2 2025 | +8.9% | +10.5% | -1.5% | 100% |
| Q1 2025 | -3.2% | -4.6% | +1.3% | 97% |
| Q4 2024 | -0.6% | +2.1% | -2.7% | 100% |
| Q3 2024 | +7.1% | +5.4% | +1.6% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $2.3B | 299 |
| Q1 2026 | $1.9B | 281 |
| Q4 2025 | $1.9B | 284 |
| Q3 2025 | $1.8B | 264 |
| Q2 2025 | $1.7B | 239 |
| Q1 2025 | $1.6B | 238 |
| Q4 2024 | $1.7B | 228 |
| Q3 2024 | $1.7B | 236 |
| Q2 2024 | $1.6B | 220 |
| Q1 2024 | $1.6B | 210 |
| Q4 2023 | $1.4B | 195 |
| Q3 2023 | $1.3B | 192 |