Great Waters Wealth Management
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 11, 2025), Great Waters Wealth Management reported 110 stock positions worth $768.9 million. Its top holding was Dimensional US Eq MKT ETF (DFUS) at 20.8% of the portfolio, followed by Dimensional World Ex US Core (DFAX, 16.6%) and Dimensional Core Fixed (DFCF, 13.8%). Compared with Q1 2025, it opened 8 new positions, sold out of 1, added to 40 and reduced 42. The biggest buy was Dimensional US Eq MKT ETF (DFUS, shares +1%) and the biggest sale Vanguard Total Bond Market (BND, shares −6%).
- Most Recent 13F
- Q2 2026
- Location
- SHOREVIEW, MN
- CIK
- 0001964535
- Portfolio Value
- $768.9M (Q2 2025)
- SEC Filing
- 0001964535-25-000004 ↗ filed Jul 11, 2025
Holdings Value
Holdings 110 stocks · $768.9M
| DFUS Dimensional US Eq MKT ETF | 20.84% | 2,390,540 | $160.2M | Add +1.0% |
| DFAX Dimensional World Ex US Core | 16.60% | 4,344,383 | $127.6M | Reduce -0.3% |
| DFCF Dimensional Core Fixed Inc. | 13.75% | 2,502,325 | $105.7M | Add +3.0% |
| DFSD Dimensional Short Duration | 7.76% | 1,242,440 | $59.6M | Add +4.5% |
| DFAS Dimensional US Small Cap ETF | 7.29% | 879,931 | $56.1M | Add +3.0% |
| BND Vanguard Total Bond Market | 4.92% | 513,721 | $37.8M | Reduce -6.5% |
| DFAT Dimensional US Target Value | 4.85% | 690,456 | $37.3M | Add +3.1% |
| DFIC Dimensional International Co. | 3.78% | 935,184 | $29.1M | Reduce -6.3% |
| IWM iShares Russell 2000 ETF | 2.97% | 105,756 | $22.8M | Reduce -4.0% |
| DFGR Dim Global Real Estate ETF | 2.32% | 664,599 | $17.8M | Add +1.2% |
| DFAC Dimensional US Core Equity 2 | 1.43% | 307,505 | $11.0M | Reduce -6.6% |
| DFAE Dimensional Emerging Core Eq | 1.33% | 354,067 | $10.3M | Reduce -5.8% |
| AAPL Apple Inc. | 0.83% | 31,097 | $6.4M | Reduce -0.9% |
| NVDA Nvidia Corp. | 0.76% | 37,171 | $5.9M | Reduce -3.2% |
| UNH Unitedhealth Group Inc. | 0.70% | 17,248 | $5.4M | Add +0.1% |
| HON Honeywell International Inc. | 0.52% | 17,110 | $4.0M | Reduce -3.0% |
| MMM 3M Co. | 0.45% | 22,473 | $3.4M | Reduce -0.9% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.38% | 59,289 | $2.9M | Reduce -2.0% |
| MSFT Microsoft Corp. | 0.34% | 5,283 | $2.6M | Add +4.9% |
| SPGM State Street SPDR Portfolio | 0.33% | 36,879 | $2.5M | Reduce -2.9% |
| SCHB Schwab US Broad Market ETF | 0.31% | 98,650 | $2.4M | Reduce -3.5% |
| SCHD Schwab US DVD Equity ETF | 0.29% | 85,554 | $2.3M | Reduce -1.8% |
| IWF iShares Russell 1000 Growth | 0.28% | 5,133 | $2.2M | Add +0.0% |
| DCI Donaldson Co. Inc. | 0.28% | 31,319 | $2.2M | No change |
| EFA iShares MSCI Eafe ETF | 0.24% | 20,258 | $1.8M | Add +1.5% |
| COST Costco Wholesale Corp. | 0.23% | 1,770 | $1.8M | Add +0.5% |
| SCHG Schwab US Large-Cap Growth | 0.22% | 58,533 | $1.7M | Reduce -4.5% |
| CORP PIMCO Inv Grade Corp. BD ETF | 0.21% | 16,940 | $1.6M | Reduce -3.7% |
| SPLV Invesco S&P 500 Low Volatili | 0.21% | 22,135 | $1.6M | Reduce -1.3% |
| IWD iShares Russell 1000 Value E | 0.20% | 7,940 | $1.5M | Add +0.4% |
| SCHF Schwab Intl Equity ETF | 0.20% | 68,779 | $1.5M | Add +2.3% |
| ACWI iShares MSCI Acwi ETF | 0.20% | 11,792 | $1.5M | Reduce -1.8% |
| SRLN SS Blackstone Sr Loan ETF | 0.19% | 35,978 | $1.5M | Reduce -6.0% |
| AMZN Amazon.com Inc. | 0.17% | 6,117 | $1.3M | Add +1.8% |
| SCHO Schwab Short-Term US Treas | 0.17% | 52,640 | $1.3M | Reduce -2.9% |
| TSLA Tesla Inc. | 0.15% | 3,709 | $1.2M | Add +2.5% |
| FICO Fair Isaac Corp. | 0.15% | 637 | $1.2M | No change |
| SCHA Schwab US Small-Cap ETF | 0.15% | 45,763 | $1.2M | Reduce -4.8% |
| VGSH Vanguard Short-Term Treasury | 0.14% | 18,910 | $1.1M | Add +0.8% |
| SCHZ Schwab US Aggregate Bond ETF | 0.14% | 47,243 | $1.1M | Add +11.4% |
| SCHM Schwab US Mid Cap ETF | 0.13% | 36,841 | $1.0M | Reduce -2.2% |
| MDT Medtronic PLC | 0.13% | 11,834 | $1.0M | Reduce -22.0% |
| XEL Xcel Energy Inc. | 0.12% | 13,528 | $921K | Reduce -3.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.11% | 1,786 | $867K | Add +0.7% |
| IFLN Invesco Bloomberg Enhanced F | 0.11% | 45,747 | $844K | Reduce -1.6% |
| MCD McDonald's Corp. | 0.10% | 2,755 | $805K | Reduce -0.4% |
| IVV iShares Core S&P 500 ETF | 0.10% | 1,256 | $780K | Add +0.1% |
| MCK McKesson Corp. | 0.09% | 992 | $727K | Add +0.1% |
| ECL Ecolab Inc. | 0.09% | 2,681 | $722K | Reduce -10.3% |
| CL Colgate-Palmolive Co. | 0.09% | 7,305 | $664K | No change |
| VGK Vanguard Ftse Europe ETF | 0.08% | 8,139 | $631K | Add +1.2% |
| PFE Pfizer Inc. | 0.08% | 25,615 | $621K | Reduce -6.7% |
| LLY Eli Lilly & Co. | 0.08% | 768 | $599K | Reduce -0.3% |
| TTC Toro Co. | 0.08% | 8,371 | $592K | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.08% | 947 | $585K | Reduce -34.5% |
| VTI VG Morningstar TS MKT ETF-US | 0.07% | 1,752 | $532K | Reduce -1.1% |
| ABT Abbott Laboratories | 0.07% | 3,879 | $528K | Reduce -3.2% |
| PCY Invesco Emerging Markets Sov | 0.06% | 24,110 | $493K | Reduce -5.8% |
| DGRE Wisdomtree Emerging Markets | 0.06% | 17,217 | $475K | Reduce -1.4% |
| META Meta Platforms Inc. Class A | 0.06% | 611 | $451K | Add +3.9% |
| TER Teradyne Inc. | 0.06% | 5,012 | $451K | Add +0.2% |
| QQQ Invesco QQQ Trust Series 1 | 0.06% | 795 | $439K | Add +29.3% |
| AMP Ameriprise Financial Inc. | 0.06% | 819 | $437K | No change |
| AMD Advanced Micro Devices | 0.06% | 3,067 | $435K | Add +49.7% |
| GIS General Mills Inc. | 0.06% | 8,371 | $434K | Add +0.0% |
| SOLV Solventum Corp. | 0.06% | 5,587 | $424K | Reduce -0.8% |
| WFC Wells Fargo & Co. | 0.05% | 5,213 | $418K | Add +1.9% |
| GOOGL Alphabet Inc. Class A | 0.05% | 2,369 | $417K | Add +2.4% |
| MU Micron Technology Inc. | 0.05% | 3,344 | $412K | No change |
| HD Home Depot Inc. | 0.05% | 1,101 | $404K | Add +0.3% |
| ITOT iShares Core S&P Total U.S. | 0.05% | 2,812 | $380K | Reduce -3.0% |
| BSX Boston Scientific Corp. | 0.05% | 3,518 | $378K | Reduce -17.2% |
| COR Cencora Inc. | 0.05% | 1,258 | $377K | New |
| TRV The Travelers Cos Inc. | 0.05% | 1,404 | $375K | Add +1.4% |
| WMT Walmart Inc. | 0.05% | 3,786 | $370K | Add +0.2% |
| OHI Omega Healthcare Investors | 0.05% | 10,000 | $367K | No change |
| GMF State Street SPDR S&P Emergi | 0.05% | 2,867 | $362K | Add +0.6% |
| ORCL Oracle Corp. | 0.04% | 1,563 | $342K | Add +1.8% |
| DAL Delta Air Lines Inc. | 0.04% | 6,530 | $321K | Reduce -49.2% |
| MO Altria Group Inc. | 0.04% | 5,437 | $319K | No change |
| SCHE Schwab Emrg Mrkts Eqty ETF | 0.04% | 9,425 | $284K | Add +3.6% |
| ACVF American Conservative Values | 0.04% | 5,947 | $280K | No change |
| VCSH Vanguard S/T Corp. Bond ETF | 0.04% | 3,487 | $277K | Add +0.1% |
| PSO Pearson PLC-Sponsored ADR | 0.04% | 18,244 | $272K | Add +21.7% |
| TSM Taiwan Semiconductor-SP ADR | 0.04% | 1,196 | $271K | Reduce -4.2% |
| CSCO Cisco Systems Inc. | 0.04% | 3,895 | $270K | Add +1.1% |
| VEA Vanguard Ftse Developed ETF | 0.03% | 4,701 | $268K | No change |
| TT Trane Technologies PLC | 0.03% | 587 | $257K | New |
| AMGN Amgen Inc. | 0.03% | 906 | $253K | No change |
| TGT Target Corp. | 0.03% | 2,548 | $251K | Reduce -9.6% |
| JNJ Johnson & Johnson | 0.03% | 1,606 | $245K | Add +0.1% |
| CMA Comerica Inc. | 0.03% | 4,051 | $242K | No change |
| AVGO Broadcom Inc. | 0.03% | 870 | $240K | New |
| FLRT Pacer Aristotle Pacific Floa | 0.03% | 4,993 | $238K | No change |
| IGM iShares Expanded Tech Sector | 0.03% | 2,040 | $229K | New |
| QYLD Global X Nasd 100 Cov Call | 0.03% | 13,448 | $225K | Add +19.7% |
| USB US Bancorp | 0.03% | 4,915 | $222K | Reduce -7.0% |
| ABBV Abbvie Inc. | 0.03% | 1,182 | $219K | Add +0.5% |
| RTX RTX Corp. | 0.03% | 1,497 | $219K | New |
| VOO Vanguard S&P 500 ETF | 0.03% | 385 | $219K | Reduce -14.4% |
Portfolio Sells Q1 2025 → Q2 2025
| BND Vanguard Total Bond Market | Reduce -6.5% | 4.92% | −0.68 |
| AAPL Apple Inc. | Reduce -0.9% | 0.83% | −0.14 |
| IWM iShares Russell 2000 ETF | Reduce -4.0% | 2.97% | −0.08 |
| DFAC Dimensional US Core Equity 2 | Reduce -6.6% | 1.43% | −0.07 |
| DFIC Dimensional International Co. | Reduce -6.3% | 3.78% | −0.07 |
| MDT Medtronic PLC | Reduce -22.0% | 0.13% | −0.06 |
| SCHD Schwab US DVD Equity ETF | Reduce -1.8% | 0.29% | −0.04 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -2.0% | 0.38% | −0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -34.5% | 0.08% | −0.04 |
| DAL Delta Air Lines Inc. | Reduce -49.2% | 0.04% | −0.04 |
| ENTG Entegris Inc. | Sold out | 0.00% | −0.03 |
| SRLN SS Blackstone Sr Loan ETF | Reduce -6.0% | 0.19% | −0.02 |
| SPLV Invesco S&P 500 Low Volatili | Reduce -1.3% | 0.21% | −0.02 |
| CORP PIMCO Inv Grade Corp. BD ETF | Reduce -3.7% | 0.21% | −0.02 |
| XEL Xcel Energy Inc. | Reduce -3.7% | 0.12% | −0.02 |
| MMM 3M Co. | Reduce -0.9% | 0.45% | −0.02 |
| DFAE Dimensional Emerging Core Eq | Reduce -5.8% | 1.33% | −0.02 |
| SCHO Schwab Short-Term US Treas | Reduce -2.9% | 0.17% | −0.02 |
| PFE Pfizer Inc. | Reduce -6.7% | 0.08% | −0.02 |
| MCD McDonald's Corp. | Reduce -0.4% | 0.10% | −0.02 |
| ECL Ecolab Inc. | Reduce -10.3% | 0.09% | −0.01 |
| BSX Boston Scientific Corp. | Reduce -17.2% | 0.05% | −0.01 |
| LLY Eli Lilly & Co. | Reduce -0.3% | 0.08% | −0.01 |
| TGT Target Corp. | Reduce -9.6% | 0.03% | −0.01 |
| PCY Invesco Emerging Markets Sov | Reduce -5.8% | 0.06% | −0.01 |
| IFLN Invesco Bloomberg Enhanced F | Reduce -1.6% | 0.11% | −0.01 |
| SCHA Schwab US Small-Cap ETF | Reduce -4.8% | 0.15% | −0.01 |
| ABT Abbott Laboratories | Reduce -3.2% | 0.07% | −0.01 |
| SOLV Solventum Corp. | Reduce -0.8% | 0.06% | −0.00 |
| VOO Vanguard S&P 500 ETF | Reduce -14.4% | 0.03% | −0.00 |
| SCHM Schwab US Mid Cap ETF | Reduce -2.2% | 0.13% | −0.00 |
| USB US Bancorp | Reduce -7.0% | 0.03% | −0.00 |
| HON Honeywell International Inc. | Reduce -3.0% | 0.52% | −0.00 |
| ITOT iShares Core S&P Total U.S. | Reduce -3.0% | 0.05% | +0.00 |
| SCHB Schwab US Broad Market ETF | Reduce -3.5% | 0.31% | +0.00 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -1.1% | 0.07% | +0.00 |
| SPGM State Street SPDR Portfolio | Reduce -2.9% | 0.33% | +0.00 |
| DGRE Wisdomtree Emerging Markets | Reduce -1.4% | 0.06% | +0.00 |
| ACWI iShares MSCI Acwi ETF | Reduce -1.8% | 0.20% | +0.00 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -4.2% | 0.04% | +0.01 |
| SCHG Schwab US Large-Cap Growth | Reduce -4.5% | 0.22% | +0.01 |
| NVDA Nvidia Corp. | Reduce -3.2% | 0.76% | +0.19 |
| DFAX Dimensional World Ex US Core | Reduce -0.3% | 16.60% | +0.76 |
Portfolio Buys Q1 2025 → Q2 2025
| DFUS Dimensional US Eq MKT ETF | Add +1.0% | 20.84% | +0.98 |
| DFAS Dimensional US Small Cap ETF | Add +3.0% | 7.29% | +0.21 |
| MSFT Microsoft Corp. | Add +4.9% | 0.34% | +0.08 |
| DFAT Dimensional US Target Value | Add +3.1% | 4.85% | +0.06 |
| COR Cencora Inc. | New | 0.05% | +0.05 |
| TT Trane Technologies PLC | New | 0.03% | +0.03 |
| AVGO Broadcom Inc. | New | 0.03% | +0.03 |
| IGM iShares Expanded Tech Sector | New | 0.03% | +0.03 |
| RTX RTX Corp. | New | 0.03% | +0.03 |
| IBM Intl Business Machines Corp. | New | 0.03% | +0.03 |
| TRI Thomson Reuters Corp. | New | 0.03% | +0.03 |
| AMD Advanced Micro Devices | Add +49.7% | 0.06% | +0.03 |
| ROK Rockwell Automation Inc. | New | 0.03% | +0.03 |
| IWF iShares Russell 1000 Growth | Add +0.0% | 0.28% | +0.03 |
| TSLA Tesla Inc. | Add +2.5% | 0.15% | +0.02 |
| QQQ Invesco QQQ Trust Series 1 | Add +29.3% | 0.06% | +0.02 |
| AMZN Amazon.com Inc. | Add +1.8% | 0.17% | +0.02 |
| ORCL Oracle Corp. | Add +1.8% | 0.04% | +0.01 |
| SCHF Schwab Intl Equity ETF | Add +2.3% | 0.20% | +0.01 |
| META Meta Platforms Inc. Class A | Add +3.9% | 0.06% | +0.01 |
| EFA iShares MSCI Eafe ETF | Add +1.5% | 0.24% | +0.01 |
| SCHZ Schwab US Aggregate Bond ETF | Add +11.4% | 0.14% | +0.01 |
| GOOGL Alphabet Inc. Class A | Add +2.4% | 0.05% | +0.00 |
| VGK Vanguard Ftse Europe ETF | Add +1.2% | 0.08% | +0.00 |
| IVV iShares Core S&P 500 ETF | Add +0.1% | 0.10% | +0.00 |
| WFC Wells Fargo & Co. | Add +1.9% | 0.05% | +0.00 |
| QYLD Global X Nasd 100 Cov Call | Add +19.7% | 0.03% | +0.00 |
| CSCO Cisco Systems Inc. | Add +1.1% | 0.04% | +0.00 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Add +3.6% | 0.04% | +0.00 |
| PSO Pearson PLC-Sponsored ADR | Add +21.7% | 0.04% | +0.00 |
| WMT Walmart Inc. | Add +0.2% | 0.05% | +0.00 |
| MCK McKesson Corp. | Add +0.1% | 0.09% | +0.00 |
| GMF State Street SPDR S&P Emergi | Add +0.6% | 0.05% | +0.00 |
| TER Teradyne Inc. | Add +0.2% | 0.06% | +0.00 |
| TRV The Travelers Cos Inc. | Add +1.4% | 0.05% | −0.00 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +0.1% | 0.04% | −0.00 |
| COST Costco Wholesale Corp. | Add +0.5% | 0.23% | −0.00 |
| HD Home Depot Inc. | Add +0.3% | 0.05% | −0.00 |
| JNJ Johnson & Johnson | Add +0.1% | 0.03% | −0.01 |
| ABBV Abbvie Inc. | Add +0.5% | 0.03% | −0.01 |
| IWD iShares Russell 1000 Value E | Add +0.4% | 0.20% | −0.01 |
| VGSH Vanguard Short-Term Treasury | Add +0.8% | 0.14% | −0.01 |
| GIS General Mills Inc. | Add +0.0% | 0.06% | −0.01 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.7% | 0.11% | −0.02 |
| DFGR Dim Global Real Estate ETF | Add +1.2% | 2.32% | −0.07 |
| DFSD Dimensional Short Duration | Add +4.5% | 7.76% | −0.08 |
| DFCF Dimensional Core Fixed Inc. | Add +3.0% | 13.75% | −0.42 |
| UNH Unitedhealth Group Inc. | Add +0.1% | 0.70% | −0.55 |
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 |