You might think that an investment fund that sticks close to the state of Minnesota would produce a portfolio of hometown favorites, but not many stock standouts. You would be wrong.

To the uninitiated, Minnesota means the Twins baseball franchise, the singer Prince and too many Garrison Keillor jokes to count. But the state has much to recommend it. It is blessed with good schools, pristine wilderness lakes-and an entrepreneurial spirit responsible for creating some of the country's premier growth companies.

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