Great Waters Wealth Management

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 17, 2025), Great Waters Wealth Management reported 112 stock positions worth $779.3 million. Its top holding was Dimensional US Eq MKT ETF (DFUS) at 20.5% of the portfolio, followed by Dimensional World Ex US Core (DFAX, 14.7%) and Dimensional Core Fixed (DFCF, 13.1%). Compared with Q3 2024, it opened 6 new positions, sold out of 4, added to 37 and reduced 55. The biggest buy was Dimensional US Eq MKT ETF (DFUS, shares +12%) and the biggest sale Dimensional International (DFIC, shares −14%).

Most Recent 13F
Q2 2026
Location
SHOREVIEW, MN
CIK
0001964535
Portfolio Value
$779.3M (Q4 2024)
SEC Filing
0001964535-25-000001 ↗ filed Jan 17, 2025

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 Q3 2024 Q4 2024: $779.3M $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 112 stocks · $779.3M
DFUS Dimensional US Eq MKT ETF 20.54% 2,511,066 $160.1M Add +12.1%
DFAX Dimensional World Ex US Core 14.69% 4,606,324 $114.5M Add +18.2%
DFCF Dimensional Core Fixed Inc. 13.14% 2,481,510 $102.4M Add +19.3%
DFAS Dimensional US Small Cap ETF 7.46% 893,036 $58.1M Add +15.5%
DFSD Dimensional Short Duration 7.36% 1,223,345 $57.4M Add +12.2%
BND Vanguard Total Bond Market 5.76% 623,723 $44.9M Reduce -8.3%
DFAT Dimensional US Target Value 5.00% 699,696 $38.9M Add +14.7%
DFIC Dimensional International Co. 3.89% 1,171,700 $30.3M Reduce -13.8%
IWM iShares Russell 2000 ETF 3.61% 127,462 $28.2M Reduce -14.6%
DFGR Dim Global Real Estate ETF 2.25% 685,086 $17.5M Add +19.0%
DFAC Dimensional US Core Equity 2 1.53% 345,842 $12.0M Reduce -1.1%
DFAE Dimensional Emerging Core Eq 1.43% 438,615 $11.1M Reduce -14.7%
AAPL Apple Inc. 1.20% 37,275 $9.3M Add +1.9%
UNH Unitedhealth Group Inc. 1.14% 17,584 $8.9M Reduce -1.6%
NVDA Nvidia Corp. 0.70% 40,500 $5.4M Reduce -25.3%
VTEB Vanguard Tax-Exempt Bond ETF 0.44% 67,911 $3.4M Reduce -3.7%
MMM 3M Co. 0.38% 22,708 $2.9M Reduce -8.0%
HON Honeywell International Inc. 0.34% 11,858 $2.7M Reduce -0.4%
IWF iShares Russell 1000 Growth 0.32% 6,252 $2.5M Reduce -2.7%
SPGM State Street SPDR Portfolio 0.31% 38,579 $2.4M Add +0.3%
SCHD Schwab US DVD Equity ETF 0.31% 87,742 $2.4M Reduce -0.9%
SCHB Schwab US Broad Market ETF 0.31% 104,942 $2.4M Reduce -2.1%
MSFT Microsoft Corp. 0.29% 5,353 $2.3M Add +4.4%
DCI Donaldson Co. Inc. 0.27% 31,319 $2.1M Reduce -1.7%
HWKN Hawkins Inc. 0.25% 15,609 $1.9M Add +0.1%
EFA iShares MSCI Eafe ETF 0.24% 24,968 $1.9M Add +0.8%
IWD iShares Russell 1000 Value E 0.23% 9,643 $1.8M Reduce -0.4%
TSLA Tesla Inc. 0.22% 4,320 $1.7M Add +22.0%
SCHG Schwab US Large-Cap Growth 0.22% 62,124 $1.7M Reduce -3.0%
AMZN Amazon.com Inc. 0.22% 7,800 $1.7M Add +5.8%
CORP PIMCO Inv Grade Corp. BD ETF 0.22% 17,887 $1.7M Reduce -3.6%
MCK McKesson Corp. 0.21% 2,871 $1.6M Add +188.8%
SPLV Invesco S&P 500 Low Volatili 0.21% 23,191 $1.6M Reduce -0.8%
SRLN SS Blackstone Sr Loan ETF 0.21% 38,820 $1.6M Reduce -3.1%
COST Costco Wholesale Corp. 0.20% 1,736 $1.6M Reduce -2.2%
ACWI iShares MSCI Acwi ETF 0.18% 12,195 $1.4M Add +0.3%
SCHO Schwab Short-Term US Treas 0.17% 54,985 $1.3M Reduce -4.3%
FICO Fair Isaac Corp. 0.16% 637 $1.3M No change
SCHF Schwab Intl Equity ETF 0.16% 68,374 $1.3M Add +3.4%
VGSH Vanguard Short-Term Treasury 0.16% 21,493 $1.3M Reduce -7.5%
SCHA Schwab US Small-Cap ETF 0.16% 48,229 $1.2M Reduce -2.6%
SCHM Schwab US Mid Cap ETF 0.13% 37,940 $1.1M Reduce -2.9%
XEL Xcel Energy Inc. 0.13% 15,334 $1.0M Reduce -6.0%
SCHZ Schwab US Aggregate Bond ETF 0.13% 44,420 $1.0M Reduce -9.8%
MDT Medtronic PLC 0.13% 12,439 $994K Reduce -12.9%
IFLN Invesco Bloomberg Enhanced F 0.11% 46,970 $849K Reduce -3.0%
SPY SS SPDR S&P 500 ETF Trust-US 0.11% 1,427 $836K Add +60.3%
BRK.B Berkshire Hathaway Inc. Class B 0.11% 1,839 $833K Add +2.2%
TTC Toro Co. 0.10% 10,101 $809K No change
IVV iShares Core S&P 500 ETF 0.10% 1,357 $799K Add +2.3%
DAL Delta Air Lines Inc. 0.10% 12,935 $783K Reduce -19.3%
VGK Vanguard Ftse Europe ETF 0.10% 12,248 $777K Reduce -0.8%
PFE Pfizer Inc. 0.09% 27,418 $727K Reduce -1.1%
VTI VG Morningstar TS MKT ETF-US 0.09% 2,492 $722K Add +1.0%
ECL Ecolab Inc. 0.09% 3,079 $721K Reduce -6.9%
CL Colgate-Palmolive Co. 0.09% 7,669 $697K No change
LLY Eli Lilly & Co. 0.09% 872 $673K Reduce -4.5%
TER Teradyne Inc. 0.08% 5,000 $630K No change
GIS General Mills Inc. 0.07% 8,369 $534K Add +0.0%
GOOGL Alphabet Inc. Class A 0.07% 2,776 $525K Reduce -8.1%
PCY Invesco Emerging Markets Sov 0.07% 25,896 $513K Reduce -3.9%
WFC Wells Fargo & Co. 0.06% 6,925 $486K Add +1.3%
CNI Canadian Natl Railway Co. 0.06% 4,708 $478K Add +20.9%
ABT Abbott Laboratories 0.06% 4,222 $478K Add +0.9%
USB US Bancorp 0.06% 9,636 $461K Reduce -23.9%
XOM Exxon Mobil Corp. 0.06% 4,168 $448K Reduce -5.9%
HD Home Depot Inc. 0.06% 1,136 $442K Reduce -2.1%
DGRE Wisdomtree Emerging Markets 0.06% 17,597 $440K Add +0.1%
AMP Ameriprise Financial Inc. 0.06% 819 $436K No change
AVGO Broadcom Inc. 0.05% 1,780 $413K Reduce -9.0%
GMF State Street SPDR S&P Emergi 0.05% 3,534 $408K Reduce -0.9%
SOLV Solventum Corp. 0.05% 5,872 $388K Reduce -5.1%
BSX Boston Scientific Corp. 0.05% 4,251 $380K Reduce -0.2%
OHI Omega Healthcare Investors 0.05% 10,000 $379K No change
ITOT iShares Core S&P Total U.S. 0.05% 2,898 $373K Add +17.1%
META Meta Platforms Inc. Class A 0.05% 600 $351K Add +2.4%
VCSH Vanguard S/T Corp. Bond ETF 0.04% 4,493 $350K Add +2.6%
WMT Walmart Inc. 0.04% 3,777 $341K Reduce -13.8%
QQQ Invesco QQQ Trust Series 1 0.04% 643 $329K Reduce -3.0%
TRV The Travelers Cos Inc. 0.04% 1,357 $327K Add +0.3%
DHR Danaher Corp. 0.04% 1,358 $312K Add +2.1%
MO Altria Group Inc. 0.04% 5,437 $284K No change
AMD Advanced Micro Devices 0.04% 2,334 $282K New
MU Micron Technology Inc. 0.04% 3,344 $281K Reduce -0.5%
ACVF American Conservative Values 0.03% 5,947 $260K New
ORCL Oracle Corp. 0.03% 1,536 $256K Reduce -16.3%
SCHE Schwab Emrg Mrkts Eqty ETF 0.03% 9,442 $251K Add +5.2%
JNJ Johnson & Johnson 0.03% 1,735 $251K Reduce -5.5%
CMA Comerica Inc. 0.03% 4,051 $251K No change
TSM Taiwan Semiconductor-SP ADR 0.03% 1,268 $250K Add +1.3%
V Visa Inc. Class A 0.03% 775 $245K Reduce -2.8%
FLRT Pacer Aristotle Pacific Floa 0.03% 4,993 $237K New
AMGN Amgen Inc. 0.03% 906 $236K No change
ENTG Entegris Inc. 0.03% 2,379 $236K Reduce -10.5%
ADBE Adobe Inc. 0.03% 528 $235K Reduce -10.7%
PSO Pearson PLC-Sponsored ADR 0.03% 14,506 $234K No change
TGT Target Corp. 0.03% 1,711 $231K Add +1.6%
CSCO Cisco Systems Inc. 0.03% 3,854 $228K New
VEA Vanguard Ftse Developed ETF 0.03% 4,701 $225K Add +15.1%
PFFA Virtus Infracap US Pref STCK 0.03% 10,000 $219K No change
VOO Vanguard S&P 500 ETF 0.03% 406 $219K New
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.03% 4,927 $217K Reduce -8.2%
TT Trane Technologies PLC 0.03% 586 $216K Add +1.9%
ABBV Abbvie Inc. 0.03% 1,187 $211K Reduce -5.9%
IGM iShares Expanded Tech Sector 0.03% 2,040 $208K New
LNT Alliant Energy Corp. 0.03% 3,447 $204K No change
SCHX Schwab US Large-Cap ETF 0.03% 8,780 $204K Reduce -1.8%
MA Mastercard Inc. Class A 0.03% 386 $203K Reduce -6.3%
OTTR Otter Tail Corp. 0.03% 2,739 $202K Add +0.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.03% 919 $202K Reduce -6.5%
SFL SFL Corp. Ltd. 0.01% 10,000 $102K No change
GNL Global Net Lease Inc. 0.01% 10,000 $73K No change

Portfolio Sells Q3 2024 → Q4 2024
DFIC Dimensional International Co. Reduce -13.8% 3.89% −1.27
BND Vanguard Total Bond Market Reduce -8.3% 5.76% −1.13
IWM iShares Russell 2000 ETF Reduce -14.6% 3.61% −0.83
DFAE Dimensional Emerging Core Eq Reduce -14.7% 1.43% −0.47
UNH Unitedhealth Group Inc. Reduce -1.6% 1.14% −0.27
NVDA Nvidia Corp. Reduce -25.3% 0.70% −0.19
DFAC Dimensional US Core Equity 2 Reduce -1.1% 1.53% −0.08
MMM 3M Co. Reduce -8.0% 0.38% −0.08
VTEB Vanguard Tax-Exempt Bond ETF Reduce -3.7% 0.44% −0.05
DCI Donaldson Co. Inc. Reduce -1.7% 0.27% −0.05
MDT Medtronic PLC Reduce -12.9% 0.13% −0.05
HIG Hartford Insurance Group Inc. Sold out 0.00% −0.04
CAT Caterpillar Inc. Sold out 0.00% −0.03
CORP PIMCO Inv Grade Corp. BD ETF Reduce -3.6% 0.22% −0.03
VGR Vector Group Ltd. Sold out 0.00% −0.03
SCHD Schwab US DVD Equity ETF Reduce -0.9% 0.31% −0.03
SCHZ Schwab US Aggregate Bond ETF Reduce -9.8% 0.13% −0.03
NEE Nextera Energy Inc. Sold out 0.00% −0.03
VGSH Vanguard Short-Term Treasury Reduce -7.5% 0.16% −0.02
LLY Eli Lilly & Co. Reduce -4.5% 0.09% −0.02
ECL Ecolab Inc. Reduce -6.9% 0.09% −0.02
SCHO Schwab Short-Term US Treas Reduce -4.3% 0.17% −0.02
USB US Bancorp Reduce -23.9% 0.06% −0.02
IWD iShares Russell 1000 Value E Reduce -0.4% 0.23% −0.02
VGK Vanguard Ftse Europe ETF Reduce -0.8% 0.10% −0.02
SPLV Invesco S&P 500 Low Volatili Reduce -0.8% 0.21% −0.02
SRLN SS Blackstone Sr Loan ETF Reduce -3.1% 0.21% −0.02
PFE Pfizer Inc. Reduce -1.1% 0.09% −0.01
SCHB Schwab US Broad Market ETF Reduce -2.1% 0.31% −0.01
XOM Exxon Mobil Corp. Reduce -5.9% 0.06% −0.01
PCY Invesco Emerging Markets Sov Reduce -3.9% 0.07% −0.01
IFLN Invesco Bloomberg Enhanced F Reduce -3.0% 0.11% −0.01
SCHA Schwab US Small-Cap ETF Reduce -2.6% 0.16% −0.01
ADBE Adobe Inc. Reduce -10.7% 0.03% −0.01
SCHM Schwab US Mid Cap ETF Reduce -2.9% 0.13% −0.01
MU Micron Technology Inc. Reduce -0.5% 0.04% −0.01
XEL Xcel Energy Inc. Reduce -6.0% 0.13% −0.01
ENTG Entegris Inc. Reduce -10.5% 0.03% −0.01
ORCL Oracle Corp. Reduce -16.3% 0.03% −0.01
DAL Delta Air Lines Inc. Reduce -19.3% 0.10% −0.01
SOLV Solventum Corp. Reduce -5.1% 0.05% −0.01
COST Costco Wholesale Corp. Reduce -2.2% 0.20% −0.01
JNJ Johnson & Johnson Reduce -5.5% 0.03% −0.01
HD Home Depot Inc. Reduce -2.1% 0.06% −0.01
GMF State Street SPDR S&P Emergi Reduce -0.9% 0.05% −0.01
ABBV Abbvie Inc. Reduce -5.9% 0.03% −0.01
WMT Walmart Inc. Reduce -13.8% 0.04% −0.00
IBM Intl Business Machines Corp. Reduce -6.5% 0.03% −0.00
IWF iShares Russell 1000 Growth Reduce -2.7% 0.32% −0.00
SCHG Schwab US Large-Cap Growth Reduce -3.0% 0.22% −0.00

Portfolio Buys Q3 2024 → Q4 2024
DFUS Dimensional US Eq MKT ETF Add +12.1% 20.54% +1.75
DFCF Dimensional Core Fixed Inc. Add +19.3% 13.14% +1.02
DFAS Dimensional US Small Cap ETF Add +15.5% 7.46% +0.70
DFAX Dimensional World Ex US Core Add +18.2% 14.69% +0.51
DFAT Dimensional US Target Value Add +14.7% 5.00% +0.42
DFSD Dimensional Short Duration Add +12.2% 7.36% +0.34
MCK McKesson Corp. Add +188.8% 0.21% +0.14
TSLA Tesla Inc. Add +22.0% 0.22% +0.10
AAPL Apple Inc. Add +1.9% 1.20% +0.05
SPY SS SPDR S&P 500 ETF Trust-US Add +60.3% 0.11% +0.04
AMD Advanced Micro Devices New 0.04% +0.04
AMZN Amazon.com Inc. Add +5.8% 0.22% +0.03
ACVF American Conservative Values New 0.03% +0.03
FLRT Pacer Aristotle Pacific Floa New 0.03% +0.03
CSCO Cisco Systems Inc. New 0.03% +0.03
VOO Vanguard S&P 500 ETF New 0.03% +0.03
IGM iShares Expanded Tech Sector New 0.03% +0.03
WFC Wells Fargo & Co. Add +1.3% 0.06% +0.01
ITOT iShares Core S&P Total U.S. Add +17.1% 0.05% +0.01
DFGR Dim Global Real Estate ETF Add +19.0% 2.25% +0.01
TSM Taiwan Semiconductor-SP ADR Add +1.3% 0.03% +0.00
META Meta Platforms Inc. Class A Add +2.4% 0.05% −0.00
CNI Canadian Natl Railway Co. Add +20.9% 0.06% −0.00
VEA Vanguard Ftse Developed ETF Add +15.1% 0.03% −0.00
IVV iShares Core S&P 500 ETF Add +2.3% 0.10% −0.00
TRV The Travelers Cos Inc. Add +0.3% 0.04% −0.00
VTI VG Morningstar TS MKT ETF-US Add +1.0% 0.09% −0.00
VCSH Vanguard S/T Corp. Bond ETF Add +2.6% 0.04% −0.00
TT Trane Technologies PLC Add +1.9% 0.03% −0.00
OTTR Otter Tail Corp. Add +0.1% 0.03% −0.00
ABT Abbott Laboratories Add +0.9% 0.06% −0.00
SCHE Schwab Emrg Mrkts Eqty ETF Add +5.2% 0.03% −0.00
BRK.B Berkshire Hathaway Inc. Class B Add +2.2% 0.11% −0.00
TGT Target Corp. Add +1.6% 0.03% −0.01
MSFT Microsoft Corp. Add +4.4% 0.29% −0.01
DGRE Wisdomtree Emerging Markets Add +0.1% 0.06% −0.01
DHR Danaher Corp. Add +2.1% 0.04% −0.01
ACWI iShares MSCI Acwi ETF Add +0.3% 0.18% −0.01
GIS General Mills Inc. Add +0.0% 0.07% −0.01
SCHF Schwab Intl Equity ETF Add +3.4% 0.16% −0.02
HWKN Hawkins Inc. Add +0.1% 0.25% −0.02
SPGM State Street SPDR Portfolio Add +0.3% 0.31% −0.02
EFA iShares MSCI Eafe ETF Add +0.8% 0.24% −0.04

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