Great Waters Wealth Management

Name: Great Waters Wealth Management 13F holdings, Q1 2025
Creator: Great Waters Wealth Management
Published: 2025-04-14

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 14, 2025), Great Waters Wealth Management reported 103 stock positions worth $720.8 million. Its top holding was Dimensional US Eq MKT ETF (DFUS) at 19.9% of the portfolio, followed by Dimensional World Ex US Core (DFAX, 15.8%) and Dimensional Core Fixed (DFCF, 14.2%). Compared with Q4 2024, it opened 4 new positions, sold out of 13, added to 11 and reduced 67. The biggest buy was Honeywell International (HON, shares +49%) and the biggest sale Dimensional US Eq MKT ETF (DFUS, shares −6%).

Most Recent 13F: Q2 2026
Location: SHOREVIEW, MN
CIK: 0001964535
Portfolio Value: $720.8M (Q1 2025)
SEC Filing: 0001964535-25-000003 ↗ filed Apr 14, 2025

Holdings Value

Holdings 103 stocks · $720.8M


DFUS Dimensional US Eq MKT ETF	19.86%	2,366,428	$143.1M	Reduce -5.8%
DFAX Dimensional World Ex US Core	15.83%	4,355,586	$114.1M	Reduce -5.4%
DFCF Dimensional Core Fixed Inc.	14.17%	2,428,912	$102.2M	Reduce -2.1%
DFSD Dimensional Short Duration	7.84%	1,189,286	$56.5M	Reduce -2.8%
DFAS Dimensional US Small Cap ETF	7.08%	854,067	$51.0M	Reduce -4.4%
BND Vanguard Total Bond Market	5.60%	549,209	$40.3M	Reduce -11.9%
DFAT Dimensional US Target Value	4.78%	669,674	$34.5M	Reduce -4.3%
DFIC Dimensional International Co.	3.85%	998,355	$27.7M	Reduce -14.8%
IWM iShares Russell 2000 ETF	3.05%	110,127	$22.0M	Reduce -13.6%
DFGR Dim Global Real Estate ETF	2.39%	656,782	$17.2M	Reduce -4.1%
DFAC Dimensional US Core Equity 2	1.51%	329,233	$10.9M	Reduce -4.8%
DFAE Dimensional Emerging Core Eq	1.35%	375,671	$9.7M	Reduce -14.3%
UNH Unitedhealth Group Inc.	1.25%	17,237	$9.0M	Reduce -2.0%
AAPL Apple Inc.	0.97%	31,389	$7.0M	Reduce -15.8%
NVDA Nvidia Corp.	0.58%	38,392	$4.2M	Reduce -5.2%
HON Honeywell International Inc.	0.52%	17,642	$3.7M	Add +48.8%
MMM 3M Co.	0.46%	22,686	$3.3M	Reduce -0.1%
VTEB Vanguard Tax-Exempt Bond ETF	0.42%	60,475	$3.0M	Reduce -10.9%
SCHD Schwab US DVD Equity ETF	0.34%	87,148	$2.4M	Reduce -0.7%
SPGM State Street SPDR Portfolio	0.33%	37,960	$2.4M	Reduce -1.6%
SCHB Schwab US Broad Market ETF	0.31%	102,246	$2.2M	Reduce -2.6%
DCI Donaldson Co. Inc.	0.29%	31,319	$2.1M	No change
MSFT Microsoft Corp.	0.26%	5,035	$1.9M	Reduce -5.9%
IWF iShares Russell 1000 Growth	0.26%	5,132	$1.9M	Reduce -17.9%
CORP PIMCO Inv Grade Corp. BD ETF	0.24%	17,599	$1.7M	Reduce -1.6%
SPLV Invesco S&P 500 Low Volatili	0.23%	22,415	$1.7M	Reduce -3.4%
COST Costco Wholesale Corp.	0.23%	1,761	$1.7M	Add +1.4%
EFA iShares MSCI Eafe ETF	0.23%	19,958	$1.6M	Reduce -20.1%
SRLN SS Blackstone Sr Loan ETF	0.22%	38,294	$1.6M	Reduce -1.4%
SCHG Schwab US Large-Cap Growth	0.21%	61,298	$1.5M	Reduce -1.3%
IWD iShares Russell 1000 Value E	0.21%	7,911	$1.5M	Reduce -18.0%
ACWI iShares MSCI Acwi ETF	0.19%	12,010	$1.4M	Reduce -1.5%
MDT Medtronic PLC	0.19%	15,178	$1.4M	Add +22.0%
SCHF Schwab Intl Equity ETF	0.18%	67,227	$1.3M	Reduce -1.7%
SCHO Schwab Short-Term US Treas	0.18%	54,226	$1.3M	Reduce -1.4%
FICO Fair Isaac Corp.	0.16%	637	$1.2M	No change
AMZN Amazon.com Inc.	0.16%	6,010	$1.1M	Reduce -22.9%
SCHA Schwab US Small-Cap ETF	0.16%	48,060	$1.1M	Reduce -0.3%
VGSH Vanguard Short-Term Treasury	0.15%	18,765	$1.1M	Reduce -12.7%
XEL Xcel Energy Inc.	0.14%	14,048	$994K	Reduce -8.4%
SCHM Schwab US Mid Cap ETF	0.14%	37,655	$987K	Reduce -0.8%
SCHZ Schwab US Aggregate Bond ETF	0.14%	42,396	$982K	Reduce -4.6%
BRK.B Berkshire Hathaway Inc. Class B	0.13%	1,774	$945K	Reduce -3.5%
TSLA Tesla Inc.	0.13%	3,618	$938K	Reduce -16.3%
MCD McDonald's Corp.	0.12%	2,767	$864K	New
IFLN Invesco Bloomberg Enhanced F	0.12%	46,488	$840K	Reduce -1.0%
SPY SS SPDR S&P 500 ETF Trust-US	0.11%	1,445	$808K	Add +1.3%
ECL Ecolab Inc.	0.11%	2,988	$758K	Reduce -3.0%
IVV iShares Core S&P 500 ETF	0.10%	1,255	$705K	Reduce -7.5%
PFE Pfizer Inc.	0.10%	27,460	$696K	Add +0.1%
CL Colgate-Palmolive Co.	0.10%	7,305	$684K	Reduce -4.8%
MCK McKesson Corp.	0.09%	991	$667K	Reduce -65.5%
LLY Eli Lilly & Co.	0.09%	770	$636K	Reduce -11.7%
TTC Toro Co.	0.08%	8,371	$609K	Reduce -17.1%
VGK Vanguard Ftse Europe ETF	0.08%	8,039	$564K	Reduce -34.4%
DAL Delta Air Lines Inc.	0.08%	12,860	$561K	Reduce -0.6%
ABT Abbott Laboratories	0.07%	4,007	$532K	Reduce -5.1%
PCY Invesco Emerging Markets Sov	0.07%	25,581	$516K	Reduce -1.2%
GIS General Mills Inc.	0.07%	8,370	$500K	Add +0.0%
VTI VG Morningstar TS MKT ETF-US	0.07%	1,771	$487K	Reduce -28.9%
BSX Boston Scientific Corp.	0.06%	4,249	$429K	Reduce -0.1%
SOLV Solventum Corp.	0.06%	5,633	$428K	Reduce -4.1%
DGRE Wisdomtree Emerging Markets	0.06%	17,461	$424K	Reduce -0.8%
TER Teradyne Inc.	0.06%	5,000	$413K	No change
HD Home Depot Inc.	0.06%	1,098	$402K	Reduce -3.4%
AMP Ameriprise Financial Inc.	0.06%	819	$396K	No change
OHI Omega Healthcare Investors	0.05%	10,000	$381K	No change
WFC Wells Fargo & Co.	0.05%	5,116	$367K	Reduce -26.1%
TRV The Travelers Cos Inc.	0.05%	1,384	$366K	Add +2.0%
GOOGL Alphabet Inc. Class A	0.05%	2,314	$358K	Reduce -16.6%
ITOT iShares Core S&P Total U.S.	0.05%	2,898	$354K	No change
META Meta Platforms Inc. Class A	0.05%	588	$339K	Reduce -2.0%
WMT Walmart Inc.	0.05%	3,777	$332K	No change
GMF State Street SPDR S&P Emergi	0.05%	2,849	$330K	Reduce -19.4%
MO Altria Group Inc.	0.05%	5,437	$326K	No change
TGT Target Corp.	0.04%	2,819	$294K	Add +64.8%
MU Micron Technology Inc.	0.04%	3,344	$291K	No change
QQQ Invesco QQQ Trust Series 1	0.04%	615	$288K	Reduce -4.3%
AMGN Amgen Inc.	0.04%	906	$282K	No change
VCSH Vanguard S/T Corp. Bond ETF	0.04%	3,482	$275K	Reduce -22.5%
JNJ Johnson & Johnson	0.04%	1,605	$266K	Reduce -7.5%
ACVF American Conservative Values	0.04%	5,947	$255K	No change
SCHE Schwab Emrg Mrkts Eqty ETF	0.03%	9,093	$251K	Reduce -3.7%
ABBV Abbvie Inc.	0.03%	1,176	$246K	Reduce -0.9%
PSO Pearson PLC-Sponsored ADR	0.03%	14,986	$240K	Add +3.3%
CMA Comerica Inc.	0.03%	4,051	$239K	No change
VEA Vanguard Ftse Developed ETF	0.03%	4,701	$239K	No change
CSCO Cisco Systems Inc.	0.03%	3,854	$238K	No change
FLRT Pacer Aristotle Pacific Floa	0.03%	4,993	$235K	No change
VOO Vanguard S&P 500 ETF	0.03%	450	$231K	Add +10.8%
USB US Bancorp	0.03%	5,286	$223K	Reduce -45.1%
LNT Alliant Energy Corp.	0.03%	3,447	$222K	No change
ORCL Oracle Corp.	0.03%	1,536	$215K	No change
PFFA Virtus Infracap US Pref STCK	0.03%	10,000	$212K	No change
AMD Advanced Micro Devices	0.03%	2,049	$211K	Reduce -12.2%
ENTG Entegris Inc.	0.03%	2,379	$208K	No change
TSM Taiwan Semiconductor-SP ADR	0.03%	1,248	$207K	Reduce -1.6%
BIZD Vaneck BDC Income ETF	0.03%	12,186	$204K	New
ADBE Adobe Inc.	0.03%	528	$203K	No change
QYLD Global X Nasd 100 Cov Call	0.03%	11,233	$187K	New
SFL SFL Corp. Ltd.	0.02%	15,000	$123K	Add +50.0%
GNL Global Net Lease Inc.	0.01%	10,000	$80K	No change
GOLDEN OCEAN GROUP LTD	0.01%	10,000	$80K	New

Portfolio Sells Q4 2024 → Q1 2025


DFUS Dimensional US Eq MKT ETF	Reduce -5.8%	19.86%	−0.68
IWM iShares Russell 2000 ETF	Reduce -13.6%	3.05%	−0.57
DFAS Dimensional US Small Cap ETF	Reduce -4.4%	7.08%	−0.38
HWKN Hawkins Inc.	Sold out	0.00%	−0.25
AAPL Apple Inc.	Reduce -15.8%	0.97%	−0.23
DFAT Dimensional US Target Value	Reduce -4.3%	4.78%	−0.21
BND Vanguard Total Bond Market	Reduce -11.9%	5.60%	−0.16
NVDA Nvidia Corp.	Reduce -5.2%	0.58%	−0.12
MCK McKesson Corp.	Reduce -65.5%	0.09%	−0.12
TSLA Tesla Inc.	Reduce -16.3%	0.13%	−0.09
DFAE Dimensional Emerging Core Eq	Reduce -14.3%	1.35%	−0.08
IWF iShares Russell 1000 Growth	Reduce -17.9%	0.26%	−0.07
CNI Canadian Natl Railway Co.	Sold out	0.00%	−0.06
AMZN Amazon.com Inc.	Reduce -22.9%	0.16%	−0.06
XOM Exxon Mobil Corp.	Sold out	0.00%	−0.06
AVGO Broadcom Inc.	Sold out	0.00%	−0.05
DHR Danaher Corp.	Sold out	0.00%	−0.04
DFIC Dimensional International Co.	Reduce -14.8%	3.85%	−0.04
V Visa Inc. Class A	Sold out	0.00%	−0.03
USB US Bancorp	Reduce -45.1%	0.03%	−0.03
DFAC Dimensional US Core Equity 2	Reduce -4.8%	1.51%	−0.03
BAC Bank of America Corp.	Sold out	0.00%	−0.03
TT Trane Technologies PLC	Sold out	0.00%	−0.03
MSFT Microsoft Corp.	Reduce -5.9%	0.26%	−0.03
IGM iShares Expanded Tech Sector	Sold out	0.00%	−0.03
MA Mastercard Inc. Class A	Sold out	0.00%	−0.03
SCHX Schwab US Large-Cap ETF	Sold out	0.00%	−0.03
OTTR Otter Tail Corp.	Sold out	0.00%	−0.03
IBM Intl Business Machines Corp.	Sold out	0.00%	−0.03
VTI VG Morningstar TS MKT ETF-US	Reduce -28.9%	0.07%	−0.03
DAL Delta Air Lines Inc.	Reduce -0.6%	0.08%	−0.02
IWD iShares Russell 1000 Value E	Reduce -18.0%	0.21%	−0.02
VGK Vanguard Ftse Europe ETF	Reduce -34.4%	0.08%	−0.02
VTEB Vanguard Tax-Exempt Bond ETF	Reduce -10.9%	0.42%	−0.02
TTC Toro Co.	Reduce -17.1%	0.08%	−0.02
GOOGL Alphabet Inc. Class A	Reduce -16.6%	0.05%	−0.02
EFA iShares MSCI Eafe ETF	Reduce -20.1%	0.23%	−0.02
WFC Wells Fargo & Co.	Reduce -26.1%	0.05%	−0.01
SCHG Schwab US Large-Cap Growth	Reduce -1.3%	0.21%	−0.01
VGSH Vanguard Short-Term Treasury	Reduce -12.7%	0.15%	−0.01
AMD Advanced Micro Devices	Reduce -12.2%	0.03%	−0.01
VCSH Vanguard S/T Corp. Bond ETF	Reduce -22.5%	0.04%	−0.01
GMF State Street SPDR S&P Emergi	Reduce -19.4%	0.05%	−0.01
IVV iShares Core S&P 500 ETF	Reduce -7.5%	0.10%	−0.00
SCHA Schwab US Small-Cap ETF	Reduce -0.3%	0.16%	−0.00
TSM Taiwan Semiconductor-SP ADR	Reduce -1.6%	0.03%	−0.00
QQQ Invesco QQQ Trust Series 1	Reduce -4.3%	0.04%	−0.00
HD Home Depot Inc.	Reduce -3.4%	0.06%	−0.00
SCHB Schwab US Broad Market ETF	Reduce -2.6%	0.31%	−0.00
META Meta Platforms Inc. Class A	Reduce -2.0%	0.05%	+0.00

Portfolio Buys Q4 2024 → Q1 2025


HON Honeywell International Inc.	Add +48.8%	0.52%	+0.17
MCD McDonald's Corp.	New	0.12%	+0.12
MDT Medtronic PLC	Add +22.0%	0.19%	+0.06
BIZD Vaneck BDC Income ETF	New	0.03%	+0.03
COST Costco Wholesale Corp.	Add +1.4%	0.23%	+0.03
QYLD Global X Nasd 100 Cov Call	New	0.03%	+0.03
TGT Target Corp.	Add +64.8%	0.04%	+0.01
GOLDEN OCEAN GROUP LTD	New	0.01%	+0.01
TRV The Travelers Cos Inc.	Add +2.0%	0.05%	+0.01
SPY SS SPDR S&P 500 ETF Trust-US	Add +1.3%	0.11%	+0.00
VOO Vanguard S&P 500 ETF	Add +10.8%	0.03%	+0.00
SFL SFL Corp. Ltd.	Add +50.0%	0.02%	+0.00
PSO Pearson PLC-Sponsored ADR	Add +3.3%	0.03%	+0.00
PFE Pfizer Inc.	Add +0.1%	0.10%	+0.00
GIS General Mills Inc.	Add +0.0%	0.07%	+0.00

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	127	$1.1B	DFUS, DFAX, DFCF, DFAS, DFSD
Q1 2026	121	$944.9M	DFUS, DFAX, DFCF, DFSD, DFAS
Q4 2025	117	$909.0M	DFUS, DFAX, DFCF, DFSD, DFAS
Q3 2025	114	$846.4M	DFUS, DFAX, DFCF, DFSD, DFAS
Q2 2025	110	$768.9M	DFUS, DFAX, DFCF, DFSD, DFAS
Q1 2025	103	$720.8M	DFUS, DFAX, DFCF, DFSD, DFAS
Q4 2024	112	$779.3M	DFUS, DFAX, DFCF, DFAS, DFSD
Q3 2024	110	$741.6M	DFUS, DFAX, DFCF, DFSD, BND
Q2 2024	104	$654.8M	DFUS, DFAX, DFCF, BND, DFSD
Q1 2024	99	$612.3M	DFUS, DFAX, DFCF, BND, DFIC