# EDGAR Filing Document

**Accession Number:** 0001518364
**File Stem:** 0001518364-23-000002
**Filing Date:** 2023-2
**Character Count:** 21773
**Document Hash:** 464be7f26a41eca257e3e9dd086888b5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001518364-23-000002.hdr.sgml**: 20230207

**ACCESSION NUMBER**: 0001518364-23-000002

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230207

**DATE AS OF CHANGE**: 20230207

**EFFECTIVENESS DATE**: 20230207

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Accredited Investors Inc.
- **CENTRAL INDEX KEY:** 0001518364
- **IRS NUMBER:** 411581164
- **STATE OF INCORPORATION:** MN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-14630
- **FILM NUMBER:** 23595876

**BUSINESS ADDRESS:**
- **STREET 1:** 5200 WEST 73RD STREET
- **CITY:** EDINA
- **STATE:** MN
- **ZIP:** 55439
- **BUSINESS PHONE:** 952-841-2222

**MAIL ADDRESS:**
- **STREET 1:** 5200 WEST 73RD STREET
- **CITY:** EDINA
- **STATE:** MN
- **ZIP:** 55439

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Accredited Investors Inc.<br>**Address:** 5200 WEST 73RD STREET<br>EDINA, MN 55439

**Form 13F File Number:** 028-14630

**CRD Number (if applicable):** 000105439

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Jenna Holm<br>**Title:** CCO<br>**Phone:** 952-841-2235

**Signature, Place, and Date of Signing:**

Jenna Holm  Edina, MN  02-07-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 185

**Form 13F Information Table Value Total:** $1182552557

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 1/100 BERKSHIRE HATHAWAY INC | CL A | 084990175 |  | 29997501 | 6400 | SH |  | SOLE |  | 6400 | 0 | 0 |
| 3M CO | COM | 88579Y101 |  | 2985057 | 24893 | SH |  | SOLE |  | 24045 | 0 | 848 |
| ABBOTT LABS | COM | 002824100 |  | 1469552 | 13385 | SH |  | SOLE |  | 13289 | 0 | 96 |
| ABBVIE INC | COM | 00287Y109 |  | 1137886 | 7041 | SH |  | SOLE |  | 6987 | 0 | 54 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 344490 | 1291 | SH |  | SOLE |  | 1291 | 0 | 0 |
| ALPHABET INC CAP | STK CL A | 02079K305 |  | 438944 | 4975 | SH |  | SOLE |  | 4895 | 0 | 80 |
| ALPHABET INC CAP | STK CL C | 02079K107 |  | 2074691 | 23382 | SH |  | SOLE |  | 23382 | 0 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 388563 | 8501 | SH |  | SOLE |  | 8501 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 2162973 | 25750 | SH |  | SOLE |  | 25670 | 0 | 80 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 445667 | 3016 | SH |  | SOLE |  | 3011 | 0 | 5 |
| AMERICAN TOWER CORP | NEW COM | 03027X100 |  | 252197 | 1190 | SH |  | SOLE |  | 1190 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 404772 | 1541 | SH |  | SOLE |  | 1541 | 0 | 0 |
| AMPHENOL CORP | NEW CL A | 032095101 |  | 304560 | 4000 | SH |  | SOLE |  | 4000 | 0 | 0 |
| ANALOG DEVICES INC | COM | 032654105 |  | 521123 | 3177 | SH |  | SOLE |  | 3177 | 0 | 0 |
| ELEVANCE HEALTH INC | COM | 036752103 |  | 631979 | 1232 | SH |  | SOLE |  | 1232 | 0 | 0 |
| AON PLC | SHS CL A | G0403H108 |  | 1255786 | 4184 | SH |  | SOLE |  | 4184 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 31297477 | 240880 | SH |  | SOLE |  | 235506 | 0 | 5374 |
| APPLIED MATLS INC | COM | 038222105 |  | 471714 | 4844 | SH |  | SOLE |  | 4844 | 0 | 0 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 234922 | 12719 | SH |  | SOLE |  | 12719 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 213827 | 11615 | SH |  | SOLE |  | 10848 | 0 | 767 |
| ATLAS AIR WORLDWIDE HLDGS IN | COM NEW | 049164205 |  | 201600 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 12199775 | 51075 | SH |  | SOLE |  | 51075 | 0 | 0 |
| AMERICAN CENTY ETF TR | INTL SMCP VLU | 025072802 |  | 62169880 | 1123214 | SH |  | SOLE |  | 1080004 | 0 | 43210 |
| BANK AMERICA CORP | COM | 060505104 |  | 1185006 | 35779 | SH |  | SOLE |  | 34622 | 0 | 1157 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 666140 | 14634 | SH |  | SOLE |  | 14634 | 0 | 0 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 432564 | 1701 | SH |  | SOLE |  | 1701 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 14382899 | 46562 | SH |  | SOLE |  | 44627 | 0 | 1935 |
| BEST BUY INC | COM | 086516101 |  | 206527 | 2575 | SH |  | SOLE |  | 2575 | 0 | 0 |
| BILL COM HLDGS INC | COM | 090043100 |  | 231540 | 2125 | SH |  | SOLE |  | 2125 | 0 | 0 |
| BOEING CO | COM | 097023105 |  | 357768 | 1878 | SH |  | SOLE |  | 1878 | 0 | 0 |
| BRIGHT HEALTH GROUP INC | COM | 10920V107 |  | 77088 | 118615 | SH |  | SOLE |  | 118360 | 0 | 255 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 1121911 | 15593 | SH |  | SOLE |  | 15593 | 0 | 0 |
| BROADRIDGE FINL SOLUTIONS IN | COM | 11133T103 |  | 478978 | 3571 | SH |  | SOLE |  | 3571 | 0 | 0 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 |  | 739265 | 4602 | SH |  | SOLE |  | 4602 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 558219 | 2330 | SH |  | SOLE |  | 2330 | 0 | 0 |
| CELCUITY INC | COM | 15102K100 |  | 407901 | 29115 | SH |  | SOLE |  | 29115 | 0 | 0 |
| C H ROBINSON WORLDWIDE INC | COM NEW | 12541W209 |  | 6143875 | 67102 | SH |  | SOLE |  | 64815 | 0 | 2287 |
| CHEVRON CORP | NEW COM | 166764100 |  | 933062 | 5198 | SH |  | SOLE |  | 4767 | 0 | 431 |
| CINTAS CORP | COM | 172908105 |  | 223685 | 495 | SH |  | SOLE |  | 495 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 631166 | 13249 | SH |  | SOLE |  | 13094 | 0 | 155 |
| CLEVELAND-CLIFFS INC | NEW COM | 185899101 |  | 1060730 | 65843 | SH |  | SOLE |  | 15357 | 0 | 50486 |
| COCA COLA CO | COM | 191216100 |  | 631888 | 9934 | SH |  | SOLE |  | 9868 | 0 | 66 |
| COMPUTE HEALTH ACQUISITIN CO | COM CL A | 204833107 |  | 153015 | 15150 | SH |  | SOLE |  | 15150 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 221809 | 1880 | SH |  | SOLE |  | 805 | 0 | 1075 |
| COSTCO WHSL CORP | NEW COM | 22160K105 |  | 1169175 | 2561 | SH |  | SOLE |  | 2544 | 0 | 17 |
| DEERE  CO | COM | 244199105 |  | 213629 | 499 | SH |  | SOLE |  | 476 | 0 | 23 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 321108 | 9772 | SH |  | SOLE |  | 9772 | 0 | 0 |
| DEXCOM INC | COM | 252131107 |  | 555102 | 4902 | SH |  | SOLE |  | 4902 | 0 | 0 |
| DOLLAR GEN CORP | NEW COM | 256677105 |  | 256593 | 1042 | SH |  | SOLE |  | 1042 | 0 | 0 |
| DONALDSON INC | COM | 257651109 |  | 226723 | 3851 | SH |  | SOLE |  | 3851 | 0 | 0 |
| ECOLAB INC | COM | 278865100 |  | 256492 | 1762 | SH |  | SOLE |  | 1762 | 0 | 0 |
| EDAP TMS S A | SPONSORED ADR | 268311107 |  | 228454 | 21431 | SH |  | SOLE |  | 21431 | 0 | 0 |
| EMERSON ELEC CO | COM | 291011104 |  | 305816 | 3184 | SH |  | SOLE |  | 2907 | 0 | 277 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 733274 | 6648 | SH |  | SOLE |  | 5875 | 0 | 773 |
| FASTENAL CO | COM | 311900104 |  | 938072 | 19824 | SH |  | SOLE |  | 19824 | 0 | 0 |
| FIDELITY COMWLTH TR | NASDAQ COMPSIT | 315912808 |  | 210089 | 5128 | SH |  | SOLE |  | 5128 | 0 | 0 |
| FIRST TR EXCHANGE TRADED FD | US EQTY OPPT ETF | 336920103 |  | 208423 | 2649 | SH |  | SOLE |  | 2649 | 0 | 0 |
| FORD MTR CO DEL | COM | 345370860 |  | 247181 | 21254 | SH |  | SOLE |  | 20420 | 0 | 834 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 221314 | 892 | SH |  | SOLE |  | 892 | 0 | 0 |
| GENERAL ELECTRIC CO | COM NEW | 369604301 |  | 662613 | 7908 | SH |  | SOLE |  | 7900 | 0 | 8 |
| GENERAL MLS INC | COM | 370334104 |  | 10400529 | 124037 | SH |  | SOLE |  | 111668 | 0 | 12369 |
| GRACO INC | COM | 384109104 |  | 1323475 | 19677 | SH |  | SOLE |  | 19677 | 0 | 0 |
| GRANITE PT MTG TR INC | COM STK | 38741L107 |  | 84768 | 15815 | SH |  | SOLE |  | 15815 | 0 | 0 |
| HEARTLAND FINL USA INC | COM | 42234Q102 |  | 2337061 | 50130 | SH |  | SOLE |  | 50130 | 0 | 0 |
| HERCULES CAPITAL INC | COM | 427096508 |  | 330500 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 1856064 | 5876 | SH |  | SOLE |  | 5876 | 0 | 0 |
| HONEYWELL INTL INC | COM | 438516106 |  | 477347 | 2228 | SH |  | SOLE |  | 2210 | 0 | 18 |
| HORMEL FOODS CORP | COM | 440452100 |  | 604286 | 13266 | SH |  | SOLE |  | 6101 | 0 | 7165 |
| INTEL CORP | COM | 458140100 |  | 487590 | 18448 | SH |  | SOLE |  | 17883 | 0 | 565 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 459063 | 3258 | SH |  | SOLE |  | 3258 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 266146 | 1003 | SH |  | SOLE |  | 1003 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 1166997 | 4383 | SH |  | SOLE |  | 4382 | 0 | 1 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 8955184 | 92331 | SH |  | SOLE |  | 91712 | 0 | 619 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 37151569 | 373158 | SH |  | SOLE |  | 359182 | 0 | 13976 |
| ISHARES TR | CORE S TTL STK | 464287150 |  | 744442 | 8779 | SH |  | SOLE |  | 8279 | 0 | 500 |
| ISHARES TR | ESG AWRE 1 5 YR | 46435G243 |  | 1553322 | 65348 | SH |  | SOLE |  | 61888 | 0 | 3460 |
| ISHARES TR | ESG EAFE ETF | 46436E759 |  | 2073820 | 38213 | SH |  | SOLE |  | 37298 | 0 | 915 |
| ISHARES TR | ESG MSCI USA ETF | 46436E767 |  | 1730849 | 56453 | SH |  | SOLE |  | 55535 | 0 | 918 |
| ISHARES TR | ESG AWR US AGRGT | 46435U549 |  | 4969263 | 106317 | SH |  | SOLE |  | 102221 | 0 | 4096 |
| ISHARES TR | INTL SEL DIV ETF | 464288448 |  | 250578 | 9226 | SH |  | SOLE |  | 9226 | 0 | 0 |
| ISHARES TR | MSCI AC ASIA ETF | 464288182 |  | 47774519 | 737375 | SH |  | SOLE |  | 724281 | 0 | 13094 |
| ISHARES TR | ESG AW MSCI EAFE | 46435G516 |  | 3767144 | 57304 | SH |  | SOLE |  | 53298 | 0 | 4006 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 294824 | 4783 | SH |  | SOLE |  | 4783 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 83774274 | 1276269 | SH |  | SOLE |  | 1225085 | 0 | 51184 |
| ISHARES TR | MSCI KLD400 SOC | 464288570 |  | 3227686 | 44960 | SH |  | SOLE |  | 42801 | 0 | 2159 |
| ISHARES TR | ESG AWARE MSCI | 46435U663 |  | 11134926 | 338654 | SH |  | SOLE |  | 319769 | 0 | 18885 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 |  | 553980 | 5250 | SH |  | SOLE |  | 5250 | 0 | 0 |
| ISHARES TR | ISHARES SEMICDTR | 464287523 |  | 313514 | 901 | SH |  | SOLE |  | 894 | 0 | 7 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 25544640 | 119234 | SH |  | SOLE |  | 117122 | 0 | 2112 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 45270284 | 259637 | SH |  | SOLE |  | 255132 | 0 | 4505 |
| ISHARES TR | RUS 2000 GRW ETF | 464287648 |  | 609666 | 2842 | SH |  | SOLE |  | 2842 | 0 | 0 |
| ISHARES TR | RUS 2000 VAL ETF | 464287630 |  | 361790 | 2609 | SH |  | SOLE |  | 2609 | 0 | 0 |
| ISHARES TR | RUS MD CP GR ETF | 464287481 |  | 22131727 | 264734 | SH |  | SOLE |  | 258595 | 0 | 6139 |
| ISHARES TR | RUS MDCP VAL ETF | 464287473 |  | 5818944 | 55240 | SH |  | SOLE |  | 55097 | 0 | 143 |
| ISHARES TR | CORE S ETF | 464287200 |  | 50138535 | 130498 | SH |  | SOLE |  | 124084 | 0 | 6414 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 310811 | 5313 | SH |  | SOLE |  | 5313 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 67336784 | 711504 | SH |  | SOLE |  | 659026 | 0 | 52478 |
| ISHARES TR | S MC 400GR ETF | 464287606 |  | 233449 | 3418 | SH |  | SOLE |  | 3418 | 0 | 0 |
| ISHARES TR | S MC 400VL ETF | 464287705 |  | 334591 | 3320 | SH |  | SOLE |  | 3318 | 0 | 2 |
| ISHARES TR | EAFE VALUE ETF | 464288877 |  | 52424514 | 1142644 | SH |  | SOLE |  | 1084110 | 0 | 58534 |
| ISHARES TR | MSCI USA ESG SLC | 464288802 |  | 3964594 | 48161 | SH |  | SOLE |  | 45839 | 0 | 2322 |
| ISHARES TR | RUS 1000 ETF | 464287622 |  | 2309194 | 10969 | SH |  | SOLE |  | 10969 | 0 | 0 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 2408202 | 15880 | SH |  | SOLE |  | 15760 | 0 | 120 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 41795417 | 172787 | SH |  | SOLE |  | 165967 | 0 | 6820 |
| ISHARES TR | U.S. TECH ETF | 464287721 |  | 201233 | 2701 | SH |  | SOLE |  | 2701 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 1424880 | 8066 | SH |  | SOLE |  | 8024 | 0 | 42 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 1830932 | 13653 | SH |  | SOLE |  | 13625 | 0 | 28 |
| LIFE TIME GROUP HOLDINGS INC | COMMON STOCK | 53190C102 |  | 191360 | 16000 | SH |  | SOLE |  | 15000 | 0 | 1000 |
| LILLY ELI  CO | COM | 532457108 |  | 1095264 | 2994 | SH |  | SOLE |  | 2994 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 288988 | 594 | SH |  | SOLE |  | 464 | 0 | 130 |
| MCDONALDS CORP | COM | 580135101 |  | 1281244 | 4862 | SH |  | SOLE |  | 4849 | 0 | 13 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 916662 | 11794 | SH |  | SOLE |  | 10024 | 0 | 1770 |
| MERCK  CO INC | COM | 58933Y105 |  | 1369642 | 12345 | SH |  | SOLE |  | 12212 | 0 | 133 |
| META PLATFORMS INC | CL A | 30303M102 |  | 438519 | 3644 | SH |  | SOLE |  | 3644 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 4623918 | 19280 | SH |  | SOLE |  | 19199 | 0 | 81 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 |  | 479611 | 1083 | SH |  | SOLE |  | 1083 | 0 | 0 |
| MODERNA INC | COM | 60770K107 |  | 244822 | 1363 | SH |  | SOLE |  | 1363 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 244246 | 828 | SH |  | SOLE |  | 823 | 0 | 5 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 339218 | 4058 | SH |  | SOLE |  | 4058 | 0 | 0 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 270541 | 1098 | SH |  | SOLE |  | 1098 | 0 | 0 |
| NUCOR CORP | COM | 670346105 |  | 440377 | 3341 | SH |  | SOLE |  | 3341 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 772614 | 5287 | SH |  | SOLE |  | 5287 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 1336122 | 16346 | SH |  | SOLE |  | 16346 | 0 | 0 |
| OTTER TAIL CORP | COM | 689648103 |  | 243407 | 4146 | SH |  | SOLE |  | 4146 | 0 | 0 |
| OWL ROCK CAPITAL CORPORATION | COM | 69121K104 |  | 236775 | 20500 | SH |  | SOLE |  | 20500 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 340574 | 4782 | SH |  | SOLE |  | 4682 | 0 | 100 |
| PEPSICO INC | COM | 713448108 |  | 1976101 | 10938 | SH |  | SOLE |  | 10935 | 0 | 3 |
| PFIZER INC | COM | 717081103 |  | 1073256 | 20946 | SH |  | SOLE |  | 20946 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 554788 | 5482 | SH |  | SOLE |  | 5395 | 0 | 87 |
| INVESCO EXCH TRADED FD TR | II KBW BK ETF | 46138E628 |  | 30190028 | 584852 | SH |  | SOLE |  | 559867 | 0 | 24985 |
| INVESCO EXCHANGE TRADED FD T | FTSE RAFI 1500 | 46137V597 |  | 8852591 | 55884 | SH |  | SOLE |  | 54339 | 0 | 1545 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 1942683 | 12818 | SH |  | SOLE |  | 12560 | 0 | 258 |
| QUALCOMM INC | COM | 747525103 |  | 246815 | 2245 | SH |  | SOLE |  | 2245 | 0 | 0 |
| RAYTHEON TECHNOLOGIES CORP | COM | 75513E101 |  | 404788 | 4011 | SH |  | SOLE |  | 4011 | 0 | 0 |
| REALTY INCOME CORP | COM | 756109104 |  | 292482 | 4611 | SH |  | SOLE |  | 4611 | 0 | 0 |
| REVANCE THERAPEUTICS INC | COM | 761330109 |  | 378264 | 20491 | SH |  | SOLE |  | 20491 | 0 | 0 |
| ROBLOX CORP | CL A | 771049103 |  | 39001926 | 1370412 | SH |  | SOLE |  | 1370412 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 8562265 | 22390 | SH |  | SOLE |  | 22119 | 0 | 271 |
| SCHWAB STRATEGIC TR | SCHWAB FDT US SC | 808524763 |  | 573208 | 12269 | SH |  | SOLE |  | 12269 | 0 | 0 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 33080341 | 738235 | SH |  | SOLE |  | 703239 | 0 | 34996 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 |  | 587662 | 10577 | SH |  | SOLE |  | 10577 | 0 | 0 |
| SCHWAB STRATEGIC TR | FINANCIAL | 81369Y605 |  | 307834 | 9001 | SH |  | SOLE |  | 9001 | 0 | 0 |
| SHOPIFY INC | CL A | 82509L107 |  | 225962 | 6510 | SH |  | SOLE |  | 6360 | 0 | 150 |
| SOUTHERN CO | COM | 842587107 |  | 482446 | 6756 | SH |  | SOLE |  | 6756 | 0 | 0 |
| SPDR SER TR | PRTFLO S VL | 78464A508 |  | 72404556 | 1861779 | SH |  | SOLE |  | 1740544 | 0 | 121235 |
| SPDR SER TR | S 600 SMCP VAL | 78464A300 |  | 583221 | 7858 | SH |  | SOLE |  | 7858 | 0 | 0 |
| SPDR INDEX SHS FDS | S INTL SMLCP | 78463X871 |  | 2286562 | 77748 | SH |  | SOLE |  | 74022 | 0 | 3726 |
| SPS COMM INC | COM | 78463M107 |  | 1016780 | 7917 | SH |  | SOLE |  | 7917 | 0 | 0 |
| STRYKER CORPORATION | COM | 863667101 |  | 248744 | 1017 | SH |  | SOLE |  | 991 | 0 | 26 |
| SYSCO CORP | COM | 871829107 |  | 241468 | 3159 | SH |  | SOLE |  | 3101 | 0 | 58 |
| TARGET CORP | COM | 87612E106 |  | 926680 | 6218 | SH |  | SOLE |  | 6180 | 0 | 38 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 298532 | 2399 | SH |  | SOLE |  | 2399 | 0 | 0 |
| TENNANT CO | COM | 880345103 |  | 1159917 | 18839 | SH |  | SOLE |  | 5278 | 0 | 13561 |
| TESLA INC | COM | 88160R101 |  | 5676121 | 46080 | SH |  | SOLE |  | 45225 | 0 | 855 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 462580 | 840 | SH |  | SOLE |  | 840 | 0 | 0 |
| US BANCORP DEL | COM NEW | 902973304 |  | 2956337 | 67790 | SH |  | SOLE |  | 67790 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 7697873 | 14519 | SH |  | SOLE |  | 14346 | 0 | 173 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 136425535 | 784776 | SH |  | SOLE |  | 784751 | 0 | 25 |
| URANIUM ENERGY CORP | COM | 916896103 |  | 51604 | 13300 | SH |  | SOLE |  | 13300 | 0 | 0 |
| VANGUARD ADMIRAL FDS INC | 500 GRTH IDX F | 921932505 |  | 376336 | 1784 | SH |  | SOLE |  | 1784 | 0 | 0 |
| VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 |  | 249572 | 3474 | SH |  | SOLE |  | 1710 | 0 | 1764 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 325501 | 2144 | SH |  | SOLE |  | 2144 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 371326 | 9526 | SH |  | SOLE |  | 9526 | 0 | 0 |
| VANGUARD INDEX FDS | EXTEND MKT ETF | 922908652 |  | 2084308 | 15688 | SH |  | SOLE |  | 15688 | 0 | 0 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 22691786 | 540667 | SH |  | SOLE |  | 530354 | 0 | 10313 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 687235 | 13706 | SH |  | SOLE |  | 13706 | 0 | 0 |
| VANGUARD WORLD FD | MEGA GRWTH IND | 921910816 |  | 9819488 | 57067 | SH |  | SOLE |  | 56141 | 0 | 926 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 455312 | 2234 | SH |  | SOLE |  | 2234 | 0 | 0 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 2726120 | 14853 | SH |  | SOLE |  | 13814 | 0 | 1039 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 |  | 316647 | 1994 | SH |  | SOLE |  | 1955 | 0 | 39 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 1169337 | 3328 | SH |  | SOLE |  | 3328 | 0 | 0 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 |  | 270833 | 5237 | SH |  | SOLE |  | 5144 | 0 | 93 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 4004497 | 20945 | SH |  | SOLE |  | 20857 | 0 | 88 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 12980518 | 150604 | SH |  | SOLE |  | 143875 | 0 | 6729 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 230066 | 1639 | SH |  | SOLE |  | 1596 | 0 | 43 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 212023 | 5381 | SH |  | SOLE |  | 5000 | 0 | 381 |
| VISA INC | COM CL A | 92826C839 |  | 305199 | 1469 | SH |  | SOLE |  | 1464 | 0 | 5 |
| VIZSLA SILVER CORP | COM NEW | 92859G202 |  | 17940 | 15600 | SH |  | SOLE |  | 15600 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 432475 | 3050 | SH |  | SOLE |  | 3005 | 0 | 45 |
| DISNEY WALT CO | COM | 254687106 |  | 755146 | 8692 | SH |  | SOLE |  | 8688 | 0 | 4 |
| WATERS CORP | COM | 941848103 |  | 360737 | 1053 | SH |  | SOLE |  | 1053 | 0 | 0 |
| WELLS FARGO CO | NEW COM | 949746101 |  | 809764 | 19612 | SH |  | SOLE |  | 19506 | 0 | 106 |
| WISDOMTREE TR | US SMALLCAP DIVD | 97717W604 |  | 569312 | 20018 | SH |  | SOLE |  | 20018 | 0 | 0 |
| XCEL ENERGY INC | COM | 98389B100 |  | 1850587 | 26395 | SH |  | SOLE |  | 25895 | 0 | 500 |
| ZOETIS INC | CL A | 98978V103 |  | 438701 | 2994 | SH |  | SOLE |  | 2994 | 0 | 0 |

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