Accredited Investors Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 5, 2026), Accredited Investors Inc. reported 283 stock positions worth $1.9 billion. Its top holding was Avantis Intl S/C Value ETF (AVDV) at 13.0% of the portfolio, followed by Schwab US Broad Market ETF (SCHB, 6.6%) and Vanguard Mrngstr Val ETF-Aui (VTV, 5.1%). Compared with Q3 2025, it opened 42 new positions, sold out of 23, added to 96 and reduced 86. The biggest buy was a new position in Sezzle (SEZL) and the biggest sale iShares Core S&P Midcap ETF (IJH, shares −14%).
- Most Recent 13F
- Q2 2026
- Location
- EDINA, MN
- CIK
- 0001518364
- Portfolio Value
- $1.9B (Q4 2025)
- SEC Filing
- 0001518364-26-000002 ↗ filed Feb 5, 2026
Holdings Value
Holdings 283 stocks · $1.9B
| AVDV Avantis Intl S/C Value ETF | 13.03% | 2,610,276 | $245.3M | Add +1.2% |
| SCHB Schwab US Broad Market ETF | 6.57% | 4,719,541 | $123.8M | Reduce -1.8% |
| VTV Vanguard Mrngstr Val ETF-Aui | 5.07% | 499,930 | $95.5M | Add +5.4% |
| IJH iShares Core S&P Midcap ETF | 4.95% | 1,412,318 | $93.2M | Reduce -14.4% |
| IVV iShares Core S&P 500 ETF | 4.81% | 132,174 | $90.5M | Add +2.3% |
| IWM iShares Russell 2000 ETF | 4.32% | 330,146 | $81.3M | Add +8.8% |
| UPS United Parcel Service Class B | 4.13% | 783,700 | $77.7M | No change |
| IJR iShares Core S&P Small-Cap E | 4.06% | 636,486 | $76.5M | Add +0.3% |
| BRK.A Berkshire Hathaway Inc. Class A | 3.45% | 86 | $64.9M | Add +8.9% |
| AAPL Apple Inc. | 3.24% | 224,153 | $60.9M | Reduce -8.3% |
| EFA iShares MSCI Eafe ETF | 3.09% | 606,562 | $58.2M | Reduce -2.5% |
| SEZL Sezzle Inc. | 3.08% | 913,042 | $58.0M | New |
| AMZN Amazon.com Inc. | 2.81% | 229,404 | $53.0M | Reduce -1.3% |
| IWF iShares Russell 1000 Growth | 2.35% | 93,306 | $44.2M | Reduce -6.1% |
| SPYV SS SPDR P S&P 500 Value ETF | 2.21% | 732,955 | $41.6M | Reduce -4.5% |
| VGK Vanguard Ftse Europe ETF | 1.95% | 438,075 | $36.6M | Add +2.1% |
| RBLX Roblox Corp. Class A | 1.62% | 376,574 | $30.5M | No change |
| VT Vanguard Tot World STK ETF | 1.48% | 197,095 | $27.8M | Reduce -2.0% |
| IWP iShares Russell Mid-Cap Grow | 1.36% | 187,039 | $25.6M | Reduce -6.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.33% | 49,774 | $25.0M | Add +0.2% |
| VEA Vanguard Ftse Developed ETF | 1.15% | 347,858 | $21.7M | Reduce -4.2% |
| MSFT Microsoft Corp. | 1.07% | 41,501 | $20.1M | Reduce -1.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.92% | 25,393 | $17.3M | Reduce -4.2% |
| CHRW C.H. Robinson Worldwide Inc. | 0.91% | 106,478 | $17.1M | Add +5.6% |
| EFV iShares MSCI Eafe Value ETF | 0.90% | 238,444 | $17.0M | Reduce -1.9% |
| ESML iShares ESG Aware MSCI USA S | 0.73% | 300,948 | $13.8M | Reduce -0.4% |
| ADP Automatic Data Processing | 0.71% | 52,270 | $13.4M | Add +0.6% |
| NVDA Nvidia Corp. | 0.68% | 69,008 | $12.9M | Reduce -8.5% |
| GOOG Alphabet Inc. Class C | 0.64% | 38,599 | $12.1M | Add +7.4% |
| EAGG iShares ESG Aware US Aggrega | 0.63% | 249,800 | $12.0M | Add +1.6% |
| VEU Vanguard Ftse All-World Ex-U | 0.58% | 149,560 | $11.0M | Reduce -1.7% |
| FNDA Schwab Fndmntl US SM Co. ETF | 0.50% | 297,794 | $9.4M | Reduce -30.3% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.45% | 29,216 | $8.5M | Reduce -0.4% |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 0.44% | 20,020 | $8.3M | Reduce -2.8% |
| ONB Old National Bancorp | 0.43% | 366,545 | $8.2M | Reduce -18.6% |
| PRFZ Inv Rafi US 1500 SM-Usd Inc. | 0.41% | 170,003 | $7.8M | Reduce -8.8% |
| SUSA iShares ESG Optimized MSCI U | 0.38% | 50,696 | $7.1M | Reduce -10.5% |
| IWS iShares Russell Mid-Cap Valu | 0.37% | 49,704 | $7.0M | Reduce -18.0% |
| JPM JPMorgan Chase & Co. | 0.36% | 20,998 | $6.8M | Add +2.9% |
| VTI VG Morningstar TS MKT ETF-US | 0.35% | 19,801 | $6.6M | Reduce -8.2% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.35% | 25,301 | $6.5M | Reduce -0.7% |
| DMXF iShares ESG Advanc MSCI Eafe | 0.33% | 83,409 | $6.3M | Add +4.7% |
| ESGD iShares Trust iShares ESG Aw | 0.32% | 64,036 | $6.1M | Add +2.5% |
| GOOGL Alphabet Inc. Class A | 0.32% | 19,187 | $6.0M | Add +10.2% |
| GIS General Mills Inc. | 0.28% | 115,234 | $5.4M | Reduce -2.4% |
| SUSB iShares ESG Aware 1-5 Year U | 0.26% | 196,915 | $5.0M | Add +14.4% |
| MMM 3M Co. | 0.24% | 28,514 | $4.6M | Reduce -1.5% |
| LLY Eli Lilly & Co. | 0.23% | 3,986 | $4.3M | Add +4.6% |
| VOO Vanguard S&P 500 ETF | 0.22% | 6,650 | $4.2M | Add +4.3% |
| USXF iShares ESG Advance MSCI USA | 0.22% | 72,098 | $4.2M | Reduce -3.8% |
| IWB iShares Russell 1000 ETF | 0.21% | 10,511 | $3.9M | Reduce -2.2% |
| META Meta Platforms Inc. Class A | 0.21% | 5,916 | $3.9M | Add +50.7% |
| UNH Unitedhealth Group Inc. | 0.18% | 10,502 | $3.5M | Add +1.7% |
| TCMD Tactile Systems Technology I | 0.18% | 115,335 | $3.3M | No change |
| USB US Bancorp | 0.17% | 60,099 | $3.2M | Add +0.2% |
| VXUS Vanguard Total Intl Stock | 0.17% | 42,468 | $3.2M | Reduce -2.6% |
| DSI iShares ESG MSCI KLD 400 ETF | 0.17% | 24,271 | $3.1M | Reduce -7.6% |
| AGG iShares Core U.S. Aggregate | 0.16% | 30,597 | $3.1M | Add +5.0% |
| IWD iShares Russell 1000 Value E | 0.16% | 14,490 | $3.0M | Add +0.0% |
| TSLA Tesla Inc. | 0.15% | 6,219 | $2.8M | Add +2.3% |
| QQQ Invesco QQQ Trust Series 1 | 0.15% | 4,469 | $2.7M | Add +15.1% |
| CELC Celcuity Inc. | 0.14% | 27,115 | $2.7M | No change |
| TRV The Travelers Cos Inc. | 0.13% | 8,300 | $2.4M | No change |
| V Visa Inc. Class A | 0.13% | 6,764 | $2.4M | Reduce -0.4% |
| ORCL Oracle Corp. | 0.12% | 12,070 | $2.4M | Add +0.3% |
| ITOT iShares Core S&P Total U.S. | 0.12% | 15,405 | $2.3M | Reduce -3.9% |
| COST Costco Wholesale Corp. | 0.12% | 2,632 | $2.3M | Add +5.7% |
| XOM Exxon Mobil Corp. | 0.12% | 18,253 | $2.2M | Add +0.7% |
| ABBV Abbvie Inc. | 0.11% | 9,405 | $2.1M | Add +4.4% |
| GGG Graco Inc. | 0.10% | 23,926 | $2.0M | Reduce -6.2% |
| HD Home Depot Inc. | 0.10% | 5,457 | $1.9M | Add +12.3% |
| AVGO Broadcom Inc. | 0.10% | 5,330 | $1.8M | Add +45.4% |
| AXP American Express Co. | 0.10% | 4,968 | $1.8M | No change |
| ABT Abbott Laboratories | 0.10% | 14,541 | $1.8M | Add +1.1% |
| JNJ Johnson & Johnson | 0.10% | 8,650 | $1.8M | Add +10.8% |
| EUSB Ishr ESG Advn Universal BD-$ | 0.10% | 40,733 | $1.8M | Add +4.0% |
| GWX State Street SPDR S&P Intern | 0.09% | 42,640 | $1.7M | No change |
| WMT Walmart Inc. | 0.09% | 15,455 | $1.7M | Add +14.8% |
| XEL Xcel Energy Inc. | 0.09% | 22,413 | $1.7M | Add +6.0% |
| WFC Wells Fargo & Co. | 0.08% | 16,757 | $1.6M | Reduce -1.7% |
| APH Amphenol Corp. Class A | 0.08% | 11,216 | $1.5M | Reduce -4.5% |
| PG The Procter & Gamble Co. | 0.08% | 10,509 | $1.5M | Reduce -4.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.08% | 27,053 | $1.5M | Add +7.4% |
| SCHG Schwab US Large-Cap Growth | 0.08% | 45,593 | $1.5M | Reduce -0.3% |
| AON Aon PLC Class A | 0.08% | 4,185 | $1.5M | Reduce -0.2% |
| MDY State Street SPDR S&P Midcap | 0.08% | 2,443 | $1.5M | No change |
| ACN Accenture PLC Class A | 0.08% | 5,443 | $1.5M | Add +4.5% |
| GE General Electric filed as GE AEROSPACE | 0.07% | 4,277 | $1.3M | Reduce -3.8% |
| PEP Pepsico Inc. | 0.07% | 9,168 | $1.3M | Reduce -1.1% |
| PWR Quanta Services Inc. | 0.07% | 3,093 | $1.3M | New |
| FAST Fastenal Co. | 0.07% | 32,475 | $1.3M | Add +1.9% |
| MRK Merck & Co. Inc. | 0.07% | 11,804 | $1.2M | Add +19.7% |
| MCD McDonald's Corp. | 0.07% | 4,015 | $1.2M | Reduce -2.6% |
| CDNS Cadence Design SYS Inc. | 0.06% | 3,907 | $1.2M | No change |
| FICO Fair Isaac Corp. | 0.06% | 689 | $1.2M | New |
| DVY iShares Select Dividend ETF | 0.06% | 8,140 | $1.1M | Reduce -0.4% |
| VIG Vanguard Dividend Apprec ETF | 0.06% | 5,214 | $1.1M | Reduce -4.2% |
| H Hyatt Hotels Corp. Class A | 0.06% | 7,146 | $1.1M | New |
| UMBF Umb Financial Corp. | 0.06% | 9,939 | $1.1M | No change |
| HLI Houlihan Lokey Inc. | 0.06% | 6,403 | $1.1M | New |
Other holdings (1): bonds, preferreds, convertibles and warrants · $12 (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| PSEWF Paysafe Ltd. -CW26 | *W EXP 03/30/202 | 60,000 | $12 | New |
Total filed on the 13F, all lines: $1.9B.
Portfolio Sells Q3 2025 → Q4 2025
| IJH iShares Core S&P Midcap ETF | Reduce -14.4% | 4.95% | −1.05 |
| SCHB Schwab US Broad Market ETF | Reduce -1.8% | 6.57% | −0.32 |
| IWF iShares Russell 1000 Growth | Reduce -6.1% | 2.35% | −0.25 |
| FNDA Schwab Fndmntl US SM Co. ETF | Reduce -30.3% | 0.50% | −0.24 |
| AAPL Apple Inc. | Reduce -8.3% | 3.24% | −0.24 |
| IWP iShares Russell Mid-Cap Grow | Reduce -6.8% | 1.36% | −0.23 |
| SPYV SS SPDR P S&P 500 Value ETF | Reduce -4.5% | 2.21% | −0.16 |
| MSFT Microsoft Corp. | Reduce -1.6% | 1.07% | −0.15 |
| EFA iShares MSCI Eafe ETF | Reduce -2.5% | 3.09% | −0.14 |
| ONB Old National Bancorp | Reduce -18.6% | 0.43% | −0.12 |
| NVDA Nvidia Corp. | Reduce -8.5% | 0.68% | −0.10 |
| IWS iShares Russell Mid-Cap Valu | Reduce -18.0% | 0.37% | −0.10 |
| VT Vanguard Tot World STK ETF | Reduce -2.0% | 1.48% | −0.07 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -4.2% | 0.92% | −0.07 |
| TBIL F/M US Treasury 3 Month Bill | Sold out | 0.00% | −0.06 |
| VEA Vanguard Ftse Developed ETF | Reduce -4.2% | 1.15% | −0.06 |
| PRFZ Inv Rafi US 1500 SM-Usd Inc. | Reduce -8.8% | 0.41% | −0.06 |
| SUSA iShares ESG Optimized MSCI U | Reduce -10.5% | 0.38% | −0.05 |
| GIS General Mills Inc. | Reduce -2.4% | 0.28% | −0.05 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -8.2% | 0.35% | −0.04 |
| KOCT Innovator U.S. Small Cap Pow | Sold out | 0.00% | −0.04 |
| AMZN Amazon.com Inc. | Reduce -1.3% | 2.81% | −0.03 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -0.4% | 0.45% | −0.03 |
| ESML iShares ESG Aware MSCI USA S | Reduce -0.4% | 0.73% | −0.02 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Reduce -2.8% | 0.44% | −0.02 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -1.7% | 0.58% | −0.02 |
| FISV Fiserv Inc. | Sold out | 0.00% | −0.02 |
| USXF iShares ESG Advance MSCI USA | Reduce -3.8% | 0.22% | −0.02 |
| DSI iShares ESG MSCI KLD 400 ETF | Reduce -7.6% | 0.17% | −0.02 |
| ITA iShares U.S. Aerospace & Def | Sold out | 0.00% | −0.02 |
| IYJ iShares U.S. Industrials ETF | Sold out | 0.00% | −0.02 |
| IAI iShares U.S. Broker-Dealers | Sold out | 0.00% | −0.02 |
| GLDM SPDR Gold Minishares Trust | Sold out | 0.00% | −0.02 |
| GGG Graco Inc. | Reduce -6.2% | 0.10% | −0.02 |
| IGV iShares Expanded Tech-Softwa | Sold out | 0.00% | −0.02 |
| IYC iShares US Consumer Discreti | Sold out | 0.00% | −0.02 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -44.4% | 0.02% | −0.02 |
| EFV iShares MSCI Eafe Value ETF | Reduce -1.9% | 0.90% | −0.01 |
| QCOM Qualcomm Inc. | Sold out | 0.00% | −0.01 |
| VXF Vanguard Extended Market ETF | Reduce -40.6% | 0.02% | −0.01 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -0.7% | 0.35% | −0.01 |
| PG The Procter & Gamble Co. | Reduce -4.9% | 0.08% | −0.01 |
| IAK iShares U.S. Insurance ETF | Sold out | 0.00% | −0.01 |
| SOXX iShares Semiconductor ETF | Reduce -48.4% | 0.02% | −0.01 |
| KMB Kimberly-Clark Corp. | Sold out | 0.00% | −0.01 |
| WM Waste Management Inc. | Sold out | 0.00% | −0.01 |
| VZ Verizon Communications Inc. | Sold out | 0.00% | −0.01 |
| PYPL PayPal Holdings Inc. | Sold out | 0.00% | −0.01 |
| RSP Invesco S&P 500 Equal Weight | Sold out | 0.00% | −0.01 |
| DE Deere & Co. | Sold out | 0.00% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| SEZL Sezzle Inc. | New | 3.08% | +3.08 |
| IWM iShares Russell 2000 ETF | Add +8.8% | 4.32% | +0.22 |
| AVDV Avantis Intl S/C Value ETF | Add +1.2% | 13.03% | +0.22 |
| CHRW C.H. Robinson Worldwide Inc. | Add +5.6% | 0.91% | +0.16 |
| GOOG Alphabet Inc. Class C | Add +7.4% | 0.64% | +0.15 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +5.4% | 5.07% | +0.14 |
| BRK.A Berkshire Hathaway Inc. Class A | Add +8.9% | 3.45% | +0.12 |
| GOOGL Alphabet Inc. Class A | Add +10.2% | 0.32% | +0.08 |
| PWR Quanta Services Inc. | New | 0.07% | +0.07 |
| LLY Eli Lilly & Co. | Add +4.6% | 0.23% | +0.07 |
| FICO Fair Isaac Corp. | New | 0.06% | +0.06 |
| H Hyatt Hotels Corp. Class A | New | 0.06% | +0.06 |
| HLI Houlihan Lokey Inc. | New | 0.06% | +0.06 |
| COF Capital One Financial Corp. | New | 0.06% | +0.06 |
| CL Colgate-Palmolive Co. | New | 0.05% | +0.05 |
| CACI Caci International Inc. Class A | New | 0.05% | +0.05 |
| META Meta Platforms Inc. Class A | Add +50.7% | 0.21% | +0.05 |
| ATO Atmos Energy Corp. | New | 0.04% | +0.04 |
| VGK Vanguard Ftse Europe ETF | Add +2.1% | 1.95% | +0.04 |
| NKE Nike Inc. Class B | New | 0.03% | +0.03 |
| VEEV Veeva Systems Inc. Class A | New | 0.03% | +0.03 |
| AVGO Broadcom Inc. | Add +45.4% | 0.10% | +0.03 |
| CPB The Campbell's Company | New | 0.03% | +0.03 |
| ORLY O'reilly Automotive Inc. | New | 0.02% | +0.02 |
| SNDR Schneider National Inc. Class B | New | 0.02% | +0.02 |
| AVIG Avantis Core Fixed Income | New | 0.02% | +0.02 |
| SUSB iShares ESG Aware 1-5 Year U | Add +14.4% | 0.26% | +0.02 |
| BKNG Booking Holdings Inc. | New | 0.02% | +0.02 |
| MRK Merck & Co. Inc. | Add +19.7% | 0.07% | +0.02 |
| NLY Annaly Capital Management Inc. | New | 0.02% | +0.02 |
| MPC Marathon Petroleum Corp. | New | 0.02% | +0.02 |
| UBER Uber Technologies Inc. | New | 0.02% | +0.02 |
| AVDE Avantis International Equity | New | 0.02% | +0.02 |
| OKE Oneok Inc. | New | 0.02% | +0.02 |
| DHR Danaher Corp. | New | 0.02% | +0.02 |
| QQQ Invesco QQQ Trust Series 1 | Add +15.1% | 0.15% | +0.02 |
| TSM Taiwan Semiconductor-SP ADR | Add +39.8% | 0.05% | +0.02 |
| TMO Thermo Fisher Scientific Inc. | Add +28.7% | 0.05% | +0.02 |
| SFM Sprouts Farmers Market Inc. | New | 0.02% | +0.02 |
| RJF Raymond James Financial Inc. | New | 0.01% | +0.01 |
| JNJ Johnson & Johnson | Add +10.8% | 0.10% | +0.01 |
| WMT Walmart Inc. | Add +14.8% | 0.09% | +0.01 |
| CNP Centerpoint Energy Inc. | New | 0.01% | +0.01 |
| WDC Western Digital Corp. | New | 0.01% | +0.01 |
| MU Micron Technology Inc. | New | 0.01% | +0.01 |
| ADBE Adobe Inc. | New | 0.01% | +0.01 |
| GILD Gilead Sciences Inc. | New | 0.01% | +0.01 |
| AVLV Avantis US Large Cap Value | New | 0.01% | +0.01 |
| LMT Lockheed Martin Corp. | New | 0.01% | +0.01 |
| GS Goldman Sachs Group Inc. | Add +60.8% | 0.03% | +0.01 |
Notes & Other Activity Q3 2025 → Q4 2025
| PSEWF Paysafe Ltd. -CW26 | *W EXP 03/30/202 | New | 60,000 | $12 |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 299 | $2.3B | AVDV, SEZL, VEU, SCHB, VTV |
| Q1 2026 | 281 | $1.9B | AVDV, SCHB, VTV, IJH, IWM |
| Q4 2025 | 283 | $1.9B | AVDV, SCHB, VTV, IJH, IVV |
| Q3 2025 | 264 | $1.8B | AVDV, SCHB, IJH, VTV, IVV |
| Q2 2025 | 239 | $1.7B | AVDV, IJH, SCHB, VTV, IVV |
| Q1 2025 | 238 | $1.6B | AVDV, IJH, SCHB, UPS, IJR |
| Q4 2024 | 228 | $1.7B | IJH, AVDV, SCHB, UPS, IJR |
| Q3 2024Amended | 236 | $1.7B | AVDV, IJH, SCHB, UPS, IJR |
| Q2 2024 | 220 | $1.6B | AVDV, IJH, UPS, SCHB, IJR |
| Q1 2024 | 210 | $1.6B | IJH, UPS, AVDV, IJR, EFA |