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Institutional Investment Manager
Accredited Investors Inc.
Accredited Investors Inc. (CIK: 0001518364) incorporated in Minnesota, located at 5200 West 73rd Street, Edina, MN. Institutional holdings reported to the SEC.

Institutional Holdings (2016Q1)
Portfolio Summary: 93 holdings with a total value of $391,498,000.
#
Name
Shares
Value ($)
%
Options
Notes
51 PEPSICO INC 5,249 538,000 0.14%
52 ISHARES TR 4,619 535,000 0.14%
53 HORMEL FOODS CORP 12,140 525,000 0.13%
54 HOME DEPOT INC 3,890 519,000 0.13%
55 AT&T INC 12,687 497,000 0.13%
56 VANGUARD INTL EQUITY INDEX F 8,559 494,000 0.13%
57 INDEPENDENCE HLDG CO NEW 30,463 485,000 0.12%
58 MERCK & CO INC 9,125 483,000 0.12%
59 VANGUARD INTL EQUITY INDEX F 13,650 472,000 0.12%
60 TEVA PHARMACEUTICAL INDS LTD 8,550 458,000 0.12%
61 EMERSON ELEC CO 8,147 443,000 0.11%
62 US BANCORP DEL 10,885 442,000 0.11%
63 JOHNSON & JOHNSON 3,925 425,000 0.11%
64 CADENCE DESIGN SYSTEM INC 17,094 403,000 0.10%
65 CHEVRON CORP NEW 4,119 393,000 0.10%
66 MCDONALDS CORP 3,085 388,000 0.10%
67 ENBRIDGE ENERGY PARTNERS L P 20,000 366,000 0.09%
68 OCCIDENTAL PETE CORP DEL 5,195 355,000 0.09%
69 HONEYWELL INTL INC 3,030 340,000 0.09%
70 EXPRESS SCRIPTS HLDG CO 4,917 338,000 0.09%
71 COSTCO WHSL CORP NEW 2,128 335,000 0.09%
72 BOEING CO 2,377 302,000 0.08%
73 UNITEDHEALTH GROUP INC 2,317 299,000 0.08%
74 OTTER TAIL CORP 10,005 296,000 0.08%
75 POWERSHARES ETF TRUST 3,122 295,000 0.08%
76 VERIZON COMMUNICATIONS INC 4,858 263,000 0.07%
77 TARGET CORP 3,173 261,000 0.07%
78 NIKE INC 4,125 254,000 0.06%
79 ABBVIE INC 4,267 244,000 0.06%
80 ENERGY TRANSFER PRTNRS L P 7,500 243,000 0.06%
81 LILLY ELI & CO 3,225 232,000 0.06%
82 ISHARES TR 2,330 230,000 0.06%
83 DUKE ENERGY CORP NEW 2,836 229,000 0.06%
84 AMGEN INC 1,505 226,000 0.06%
85 NEWELL BRANDS 5,000 221,000 0.06%
86 CATERPILLAR INC 2,853 218,000 0.06%
87 DONALDSON INC 6,762 216,000 0.06%
88 FACEBOOK INC 1,857 212,000 0.05%
89 VANGUARD INDEX FDS 1,988 208,000 0.05%
90 BANK AMER CORP 11,805 160,000 0.04%
91 Innodata Inc 27,000 61,000 0.02%
92 CHRISTOPHER & BANKS CORP 22,500 54,000 0.01%
93 DURECT CORP 30,000 41,000 0.01%
Page 2 of 2

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001518364-16-000012, filed 2016.05.12).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.