Great Waters Wealth Management

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 4, 2024), Great Waters Wealth Management reported 110 stock positions worth $741.6 million. Its top holding was Dimensional US Eq MKT ETF (DFUS) at 18.8% of the portfolio, followed by Dimensional World Ex US Core (DFAX, 14.2%) and Dimensional Core Fixed (DFCF, 12.1%). Compared with Q2 2024, it opened 7 new positions, sold out of 1, added to 38 and reduced 41. The biggest buy was Dimensional World Ex US Core (DFAX, shares +15%) and the biggest sale Vanguard Total Bond Market (BND, shares −7%).

Most Recent 13F
Q2 2026
Location
SHOREVIEW, MN
CIK
0001964535
Portfolio Value
$741.6M (Q3 2024)
SEC Filing
0001964535-24-000006 ↗ filed Oct 4, 2024

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $612.3M Q1 2024 Q2 2024: $654.8M Q2 2024 Q3 2024: $741.6M $741.6M Q3 2024 Q4 2024: $779.3M Q4 2024 Q1 2025: $720.8M Q1 2025 Q2 2025: $768.9M Q2 2025 Q3 2025: $846.4M Q3 2025 Q4 2025: $909.0M Q4 2025 Q1 2026: $944.9M Q1 2026 Q2 2026: $1.1B Q2 2026

Holdings 110 stocks · $741.6M
DFUS Dimensional US Eq MKT ETF 18.79% 2,240,037 $139.3M Add +13.0%
DFAX Dimensional World Ex US Core 14.19% 3,895,601 $105.2M Add +14.9%
DFCF Dimensional Core Fixed Inc. 12.12% 2,080,667 $89.9M Add +15.7%
DFSD Dimensional Short Duration 7.02% 1,090,621 $52.1M Add +14.0%
BND Vanguard Total Bond Market 6.89% 680,156 $51.1M Reduce -7.0%
DFAS Dimensional US Small Cap ETF 6.76% 773,196 $50.1M Add +16.0%
DFIC Dimensional International Co. 5.16% 1,359,354 $38.3M Reduce -11.1%
DFAT Dimensional US Target Value 4.58% 609,970 $33.9M Add +14.9%
IWM iShares Russell 2000 ETF 4.45% 149,329 $33.0M Reduce -10.3%
DFGR Dim Global Real Estate ETF 2.24% 575,513 $16.6M Add +13.2%
DFAE Dimensional Emerging Core Eq 1.90% 514,064 $14.1M Reduce -11.1%
DFAC Dimensional US Core Equity 2 1.62% 349,557 $12.0M Reduce -4.1%
UNH Unitedhealth Group Inc. 1.41% 17,873 $10.5M Reduce -0.7%
AAPL Apple Inc. 1.15% 36,589 $8.5M Reduce -5.7%
NVDA Nvidia Corp. 0.89% 54,224 $6.6M Add +0.6%
VTEB Vanguard Tax-Exempt Bond ETF 0.49% 70,525 $3.6M Reduce -2.2%
MMM 3M Co. 0.45% 24,680 $3.4M Reduce -6.4%
SCHD Schwab US DVD Equity ETF 0.34% 29,520 $2.5M Reduce -1.0%
SPGM State Street SPDR Portfolio 0.34% 38,449 $2.5M Reduce -2.3%
HON Honeywell International Inc. 0.33% 11,910 $2.5M Reduce -0.2%
IWF iShares Russell 1000 Growth 0.33% 6,423 $2.4M Add +0.1%
SCHB Schwab US Broad Market ETF 0.32% 35,721 $2.4M Reduce -2.2%
DCI Donaldson Co. Inc. 0.32% 31,873 $2.3M Reduce -0.4%
MSFT Microsoft Corp. 0.30% 5,128 $2.2M Add +0.2%
EFA iShares MSCI Eafe ETF 0.28% 24,757 $2.1M Reduce -0.9%
HWKN Hawkins Inc. 0.27% 15,588 $2.0M Add +0.1%
CORP PIMCO Inv Grade Corp. BD ETF 0.25% 18,549 $1.8M Reduce -4.3%
IWD iShares Russell 1000 Value E 0.25% 9,681 $1.8M Add +0.4%
SPLV Invesco S&P 500 Low Volatili 0.23% 23,377 $1.7M Reduce -2.0%
SRLN SS Blackstone Sr Loan ETF 0.23% 40,062 $1.7M Reduce -3.9%
SCHG Schwab US Large-Cap Growth 0.23% 16,017 $1.7M Reduce -3.3%
COST Costco Wholesale Corp. 0.21% 1,775 $1.6M Add +1.7%
ACWI iShares MSCI Acwi ETF 0.20% 12,159 $1.5M Reduce -3.5%
SCHO Schwab Short-Term US Treas 0.19% 28,723 $1.4M Reduce -1.6%
AMZN Amazon.com Inc. 0.19% 7,370 $1.4M Reduce -7.1%
VGSH Vanguard Short-Term Treasury 0.18% 23,226 $1.4M Add +0.9%
SCHF Schwab Intl Equity ETF 0.18% 33,077 $1.4M Add +0.8%
MDT Medtronic PLC 0.17% 14,283 $1.3M Reduce -3.3%
SCHA Schwab US Small-Cap ETF 0.17% 24,753 $1.3M Reduce -1.8%
FICO Fair Isaac Corp. 0.17% 637 $1.2M Reduce -7.0%
SCHZ Schwab US Aggregate Bond ETF 0.16% 24,634 $1.2M Add +1.4%
SCHM Schwab US Mid Cap ETF 0.15% 13,021 $1.1M Reduce -2.0%
XEL Xcel Energy Inc. 0.14% 16,315 $1.1M Reduce -2.5%
TSLA Tesla Inc. 0.12% 3,540 $926K Add +8.8%
IFLN Invesco Bloomberg Enhanced F 0.12% 48,447 $898K Reduce -7.0%
VGK Vanguard Ftse Europe ETF 0.12% 12,350 $878K Reduce -2.5%
TTC Toro Co. 0.12% 10,101 $876K No change
ECL Ecolab Inc. 0.11% 3,306 $844K Reduce -1.6%
BRK.B Berkshire Hathaway Inc. Class B 0.11% 1,800 $828K Add +4.7%
DAL Delta Air Lines Inc. 0.11% 16,023 $814K Add +143.2%
LLY Eli Lilly & Co. 0.11% 913 $809K No change
PFE Pfizer Inc. 0.11% 27,726 $802K Add +1.2%
CL Colgate-Palmolive Co. 0.11% 7,669 $796K Add +1.6%
IVV iShares Core S&P 500 ETF 0.10% 1,326 $765K Add +0.1%
VTI VG Morningstar TS MKT ETF-US 0.09% 2,467 $698K Reduce -0.8%
TER Teradyne Inc. 0.09% 5,000 $670K No change
GIS General Mills Inc. 0.08% 8,368 $618K Reduce -4.2%
PCY Invesco Emerging Markets Sov 0.08% 26,945 $579K Reduce -5.0%
USB US Bancorp 0.08% 12,666 $579K Add +13.3%
XOM Exxon Mobil Corp. 0.07% 4,430 $519K Add +2.5%
SPY SS SPDR S&P 500 ETF Trust-US 0.07% 890 $511K Add +0.2%
GOOGL Alphabet Inc. Class A 0.07% 3,019 $501K Reduce -0.4%
MCK McKesson Corp. 0.07% 994 $491K No change
DGRE Wisdomtree Emerging Markets 0.07% 17,572 $488K Reduce -5.9%
ABT Abbott Laboratories 0.06% 4,186 $477K Add +2.6%
HD Home Depot Inc. 0.06% 1,161 $471K No change
CNI Canadian Natl Railway Co. 0.06% 3,894 $456K No change
GMF State Street SPDR S&P Emergi 0.06% 3,566 $439K Add +0.0%
SOLV Solventum Corp. 0.06% 6,190 $432K Reduce -5.0%
OHI Omega Healthcare Investors 0.05% 10,000 $407K No change
WFC Wells Fargo & Co. 0.05% 6,839 $386K Add +2.8%
AMP Ameriprise Financial Inc. 0.05% 819 $385K No change
DHR Danaher Corp. 0.05% 1,330 $370K No change
BSX Boston Scientific Corp. 0.05% 4,258 $357K No change
WMT Walmart Inc. 0.05% 4,382 $354K Add +3.5%
MU Micron Technology Inc. 0.05% 3,359 $348K Add +0.4%
VCSH Vanguard S/T Corp. Bond ETF 0.05% 4,377 $348K Reduce -1.0%
AVGO Broadcom Inc. 0.05% 1,956 $337K Add +44.9%
META Meta Platforms Inc. Class A 0.05% 586 $335K Reduce -0.3%
QQQ Invesco QQQ Trust Series 1 0.04% 663 $324K No change
TRV The Travelers Cos Inc. 0.04% 1,353 $317K Add +0.2%
ORCL Oracle Corp. 0.04% 1,836 $313K Add +0.1%
ITOT iShares Core S&P Total U.S. 0.04% 2,474 $311K No change
ADBE Adobe Inc. 0.04% 591 $306K No change
HIG Hartford Insurance Group Inc. 0.04% 2,598 $306K Add +0.1%
ENTG Entegris Inc. 0.04% 2,657 $299K No change
JNJ Johnson & Johnson 0.04% 1,835 $297K Add +6.3%
AMGN Amgen Inc. 0.04% 906 $292K No change
MO Altria Group Inc. 0.04% 5,437 $278K No change
TGT Target Corp. 0.04% 1,684 $263K Reduce -17.3%
SCHE Schwab Emrg Mrkts Eqty ETF 0.04% 8,979 $262K Add +1.0%
ABBV Abbvie Inc. 0.03% 1,261 $249K Reduce -0.6%
CMA Comerica Inc. 0.03% 4,051 $243K No change
CAT Caterpillar Inc. 0.03% 604 $236K New
PFFA Virtus Infracap US Pref STCK 0.03% 10,000 $228K No change
VGR Vector Group Ltd. 0.03% 15,000 $224K No change
TT Trane Technologies PLC 0.03% 575 $224K New
V Visa Inc. Class A 0.03% 797 $219K No change
TSM Taiwan Semiconductor-SP ADR 0.03% 1,252 $217K Add +1.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.03% 983 $217K New
VEA Vanguard Ftse Developed ETF 0.03% 4,083 $216K No change
OTTR Otter Tail Corp. 0.03% 2,735 $214K Add +0.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.03% 5,367 $213K Reduce -0.1%
LNT Alliant Energy Corp. 0.03% 3,447 $209K New
MA Mastercard Inc. Class A 0.03% 412 $203K New
SCHX Schwab US Large-Cap ETF 0.03% 2,979 $202K New
NEE Nextera Energy Inc. 0.03% 2,368 $200K New
PSO Pearson PLC-Sponsored ADR 0.03% 14,506 $197K No change
SFL SFL Corp. Ltd. 0.02% 10,000 $116K No change
GNL Global Net Lease Inc. 0.01% 10,000 $84K No change

Portfolio Sells Q2 2024 → Q3 2024
BND Vanguard Total Bond Market Reduce -7.0% 6.89% −1.16
DFIC Dimensional International Co. Reduce -11.1% 5.16% −0.98
IWM iShares Russell 2000 ETF Reduce -10.3% 4.45% −0.71
DFAE Dimensional Emerging Core Eq Reduce -11.1% 1.90% −0.39
DFAC Dimensional US Core Equity 2 Reduce -4.1% 1.62% −0.18
AAPL Apple Inc. Reduce -5.7% 1.15% −0.10
VTEB Vanguard Tax-Exempt Bond ETF Reduce -2.2% 0.49% −0.07
HON Honeywell International Inc. Reduce -0.2% 0.33% −0.06
AMZN Amazon.com Inc. Reduce -7.1% 0.19% −0.05
SRLN SS Blackstone Sr Loan ETF Reduce -3.9% 0.23% −0.04
LRCX Lam Research Corp. Sold out 0.00% −0.03
DCI Donaldson Co. Inc. Reduce -0.4% 0.32% −0.03
CORP PIMCO Inv Grade Corp. BD ETF Reduce -4.3% 0.25% −0.03
SCHB Schwab US Broad Market ETF Reduce -2.2% 0.32% −0.03
SCHG Schwab US Large-Cap Growth Reduce -3.3% 0.23% −0.03
SPGM State Street SPDR Portfolio Reduce -2.3% 0.34% −0.03
SCHO Schwab Short-Term US Treas Reduce -1.6% 0.19% −0.03
IFLN Invesco Bloomberg Enhanced F Reduce -7.0% 0.12% −0.02
ACWI iShares MSCI Acwi ETF Reduce -3.5% 0.20% −0.02
EFA iShares MSCI Eafe ETF Reduce -0.9% 0.28% −0.02
SCHD Schwab US DVD Equity ETF Reduce -1.0% 0.34% −0.02
GOOGL Alphabet Inc. Class A Reduce -0.4% 0.07% −0.02
SCHM Schwab US Mid Cap ETF Reduce -2.0% 0.15% −0.01
SCHA Schwab US Small-Cap ETF Reduce -1.8% 0.17% −0.01
TGT Target Corp. Reduce -17.3% 0.04% −0.01
VGK Vanguard Ftse Europe ETF Reduce -2.5% 0.12% −0.01
SPLV Invesco S&P 500 Low Volatili Reduce -2.0% 0.23% −0.01
DGRE Wisdomtree Emerging Markets Reduce -5.9% 0.07% −0.01
PCY Invesco Emerging Markets Sov Reduce -5.0% 0.08% −0.01
ECL Ecolab Inc. Reduce -1.6% 0.11% −0.01
VTI VG Morningstar TS MKT ETF-US Reduce -0.8% 0.09% −0.01
VCSH Vanguard S/T Corp. Bond ETF Reduce -1.0% 0.05% −0.01
MDT Medtronic PLC Reduce -3.3% 0.17% −0.00
BAC Bank of America Corp. Reduce -0.1% 0.03% −0.00
GIS General Mills Inc. Reduce -4.2% 0.08% −0.00
META Meta Platforms Inc. Class A Reduce -0.3% 0.05% 0.00
ABBV Abbvie Inc. Reduce -0.6% 0.03% +0.00
SOLV Solventum Corp. Reduce -5.0% 0.06% +0.01
XEL Xcel Energy Inc. Reduce -2.5% 0.14% +0.01
UNH Unitedhealth Group Inc. Reduce -0.7% 1.41% +0.01
FICO Fair Isaac Corp. Reduce -7.0% 0.17% +0.01
MMM 3M Co. Reduce -6.4% 0.45% +0.04

Portfolio Buys Q2 2024 → Q3 2024
DFAX Dimensional World Ex US Core Add +14.9% 14.19% +1.03
DFUS Dimensional US Eq MKT ETF Add +13.0% 18.79% +0.97
DFCF Dimensional Core Fixed Inc. Add +15.7% 12.12% +0.71
DFAS Dimensional US Small Cap ETF Add +16.0% 6.76% +0.65
DFAT Dimensional US Target Value Add +14.9% 4.58% +0.37
DFGR Dim Global Real Estate ETF Add +13.2% 2.24% +0.30
DFSD Dimensional Short Duration Add +14.0% 7.02% +0.15
DAL Delta Air Lines Inc. Add +143.2% 0.11% +0.06
HWKN Hawkins Inc. Add +0.1% 0.27% +0.05
CAT Caterpillar Inc. New 0.03% +0.03
TT Trane Technologies PLC New 0.03% +0.03
IBM Intl Business Machines Corp. New 0.03% +0.03
LNT Alliant Energy Corp. New 0.03% +0.03
MA Mastercard Inc. Class A New 0.03% +0.03
SCHX Schwab US Large-Cap ETF New 0.03% +0.03
NEE Nextera Energy Inc. New 0.03% +0.03
TSLA Tesla Inc. Add +8.8% 0.12% +0.03
AVGO Broadcom Inc. Add +44.9% 0.05% +0.01
USB US Bancorp Add +13.3% 0.08% +0.01
BRK.B Berkshire Hathaway Inc. Class B Add +4.7% 0.11% +0.00
WMT Walmart Inc. Add +3.5% 0.05% +0.00
ORCL Oracle Corp. Add +0.1% 0.04% +0.00
JNJ Johnson & Johnson Add +6.3% 0.04% +0.00
HIG Hartford Insurance Group Inc. Add +0.1% 0.04% +0.00
TRV The Travelers Cos Inc. Add +0.2% 0.04% +0.00
ABT Abbott Laboratories Add +2.6% 0.06% −0.00
SCHE Schwab Emrg Mrkts Eqty ETF Add +1.0% 0.04% −0.00
GMF State Street SPDR S&P Emergi Add +0.0% 0.06% −0.00
TSM Taiwan Semiconductor-SP ADR Add +1.1% 0.03% −0.00
CL Colgate-Palmolive Co. Add +1.6% 0.11% −0.00
SPY SS SPDR S&P 500 ETF Trust-US Add +0.2% 0.07% −0.00
XOM Exxon Mobil Corp. Add +2.5% 0.07% −0.01
IVV iShares Core S&P 500 ETF Add +0.1% 0.10% −0.01
OTTR Otter Tail Corp. Add +0.1% 0.03% −0.01
WFC Wells Fargo & Co. Add +2.8% 0.05% −0.01
PFE Pfizer Inc. Add +1.2% 0.11% −0.01
IWD iShares Russell 1000 Value E Add +0.4% 0.25% −0.01
SCHF Schwab Intl Equity ETF Add +0.8% 0.18% −0.01
SCHZ Schwab US Aggregate Bond ETF Add +1.4% 0.16% −0.01
COST Costco Wholesale Corp. Add +1.7% 0.21% −0.01
VGSH Vanguard Short-Term Treasury Add +0.9% 0.18% −0.02
MU Micron Technology Inc. Add +0.4% 0.05% −0.02
IWF iShares Russell 1000 Growth Add +0.1% 0.33% −0.03
MSFT Microsoft Corp. Add +0.2% 0.30% −0.05
NVDA Nvidia Corp. Add +0.6% 0.89% −0.13

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 127$1.1BDFUS, DFAX, DFCF, DFAS, DFSD
Q1 2026 121$944.9MDFUS, DFAX, DFCF, DFSD, DFAS
Q4 2025 117$909.0MDFUS, DFAX, DFCF, DFSD, DFAS
Q3 2025 114$846.4MDFUS, DFAX, DFCF, DFSD, DFAS
Q2 2025 110$768.9MDFUS, DFAX, DFCF, DFSD, DFAS
Q1 2025 103$720.8MDFUS, DFAX, DFCF, DFSD, DFAS
Q4 2024 112$779.3MDFUS, DFAX, DFCF, DFAS, DFSD
Q3 2024 110$741.6MDFUS, DFAX, DFCF, DFSD, BND
Q2 2024 104$654.8MDFUS, DFAX, DFCF, BND, DFSD
Q1 2024 99$612.3MDFUS, DFAX, DFCF, BND, DFIC