Great Waters Wealth Management
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 14, 2025), Great Waters Wealth Management reported 114 stock positions worth $846.4 million. Its top holding was Dimensional US Eq MKT ETF (DFUS) at 21.4% of the portfolio, followed by Dimensional World Ex US Core (DFAX, 16.8%) and Dimensional Core Fixed (DFCF, 13.9%). Compared with Q2 2025, it opened 7 new positions, sold out of 3, added to 41 and reduced 39. The biggest buy was Dimensional US Eq MKT ETF (DFUS, shares +4%) and the biggest sale Vanguard Total Bond Market (BND, shares −7%).
- Most Recent 13F
- Q2 2026
- Location
- SHOREVIEW, MN
- CIK
- 0001964535
- Portfolio Value
- $846.4M (Q3 2025)
- SEC Filing
- 0001964535-25-000006 ↗ filed Oct 14, 2025
Holdings Value
Holdings 114 stocks · $846.4M
| DFUS Dimensional US Eq MKT ETF | 21.37% | 2,496,996 | $180.9M | Add +4.5% |
| DFAX Dimensional World Ex US Core | 16.82% | 4,536,974 | $142.4M | Add +4.4% |
| DFCF Dimensional Core Fixed Inc. | 13.94% | 2,758,948 | $118.0M | Add +10.3% |
| DFSD Dimensional Short Duration | 8.04% | 1,411,705 | $68.0M | Add +13.6% |
| DFAS Dimensional US Small Cap ETF | 7.54% | 932,698 | $63.9M | Add +6.0% |
| DFAT Dimensional US Target Value | 5.05% | 734,847 | $42.8M | Add +6.4% |
| BND Vanguard Total Bond Market | 4.18% | 475,849 | $35.4M | Reduce -7.4% |
| DFIC Dimensional International Co. | 3.33% | 860,030 | $28.2M | Reduce -8.0% |
| IWM iShares Russell 2000 ETF | 2.82% | 98,682 | $23.9M | Reduce -6.7% |
| DFGR Dim Global Real Estate ETF | 2.31% | 717,379 | $19.6M | Add +7.9% |
| DFAC Dimensional US Core Equity 2 | 1.36% | 299,232 | $11.5M | Reduce -2.7% |
| DFAE Dimensional Emerging Core Eq | 1.22% | 328,806 | $10.4M | Reduce -7.1% |
| AAPL Apple Inc. | 0.90% | 29,991 | $7.6M | Reduce -3.6% |
| NVDA Nvidia Corp. | 0.82% | 37,222 | $6.9M | Add +0.1% |
| UNH Unitedhealth Group Inc. | 0.70% | 17,246 | $6.0M | Reduce -0.0% |
| MMM 3M Co. | 0.51% | 27,899 | $4.3M | Add +24.1% |
| HON Honeywell International Inc. | 0.42% | 16,975 | $3.6M | Reduce -0.8% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.34% | 58,198 | $2.9M | Reduce -1.8% |
| MSFT Microsoft Corp. | 0.33% | 5,350 | $2.8M | Add +1.3% |
| DCI Donaldson Co. Inc. | 0.30% | 30,819 | $2.5M | Reduce -1.6% |
| SCHB Schwab US Broad Market ETF | 0.30% | 97,173 | $2.5M | Reduce -1.5% |
| IWF iShares Russell 1000 Growth | 0.29% | 5,221 | $2.4M | Add +1.7% |
| SPGM State Street SPDR Portfolio | 0.27% | 31,034 | $2.3M | Reduce -15.8% |
| SCHD Schwab US DVD Equity ETF | 0.26% | 79,615 | $2.2M | Reduce -6.9% |
| EFA iShares MSCI Eafe ETF | 0.21% | 19,232 | $1.8M | Reduce -5.1% |
| CORP PIMCO Inv Grade Corp. BD ETF | 0.20% | 17,345 | $1.7M | Add +2.4% |
| TSLA Tesla Inc. | 0.20% | 3,842 | $1.7M | Add +3.6% |
| SPLV Invesco S&P 500 Low Volatili | 0.20% | 22,558 | $1.7M | Add +1.9% |
| COST Costco Wholesale Corp. | 0.19% | 1,773 | $1.6M | Add +0.2% |
| ACWI iShares MSCI Acwi ETF | 0.19% | 11,834 | $1.6M | Add +0.4% |
| IWD iShares Russell 1000 Value E | 0.19% | 7,938 | $1.6M | Reduce -0.0% |
| SCHF Schwab Intl Equity ETF | 0.19% | 68,423 | $1.6M | Reduce -0.5% |
| SRLN SS Blackstone Sr Loan ETF | 0.18% | 36,426 | $1.5M | Add +1.3% |
| SCHG Schwab US Large-Cap Growth | 0.17% | 45,541 | $1.5M | Reduce -22.2% |
| AMZN Amazon.com Inc. | 0.16% | 6,113 | $1.3M | Reduce -0.1% |
| SCHO Schwab Short-Term US Treas | 0.16% | 53,815 | $1.3M | Add +2.2% |
| SCHA Schwab US Small-Cap ETF | 0.14% | 42,196 | $1.2M | Reduce -7.8% |
| MDT Medtronic PLC | 0.13% | 11,834 | $1.1M | No change |
| VGSH Vanguard Short-Term Treasury | 0.13% | 19,011 | $1.1M | Add +0.5% |
| SCHM Schwab US Mid Cap ETF | 0.13% | 36,994 | $1.1M | Add +0.4% |
| SCHZ Schwab US Aggregate Bond ETF | 0.13% | 45,805 | $1.1M | Reduce -3.0% |
| FICO Fair Isaac Corp. | 0.11% | 637 | $953K | No change |
| IVV iShares Core S&P 500 ETF | 0.11% | 1,384 | $926K | Add +10.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.10% | 1,768 | $889K | Reduce -1.0% |
| IFLN Invesco Bloomberg Enhanced F | 0.10% | 47,030 | $874K | Add +2.8% |
| XEL Xcel Energy Inc. | 0.10% | 10,509 | $848K | Reduce -22.3% |
| MCD McDonald's Corp. | 0.10% | 2,755 | $837K | No change |
| MCK McKesson Corp. | 0.09% | 992 | $766K | No change |
| TER Teradyne Inc. | 0.08% | 5,012 | $690K | No change |
| PFE Pfizer Inc. | 0.08% | 25,620 | $653K | Add +0.0% |
| VGK Vanguard Ftse Europe ETF | 0.08% | 8,076 | $644K | Reduce -0.8% |
| TTC Toro Co. | 0.08% | 8,371 | $638K | No change |
| ECL Ecolab Inc. | 0.07% | 2,291 | $628K | Reduce -14.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.07% | 935 | $623K | Reduce -1.3% |
| GOOGL Alphabet Inc. Class A | 0.07% | 2,448 | $595K | Add +3.3% |
| CL Colgate-Palmolive Co. | 0.07% | 7,305 | $584K | No change |
| VTI VG Morningstar TS MKT ETF-US | 0.07% | 1,748 | $573K | Reduce -0.2% |
| LLY Eli Lilly & Co. | 0.07% | 748 | $571K | Reduce -2.6% |
| BSX Boston Scientific Corp. | 0.07% | 5,769 | $563K | Add +64.0% |
| MU Micron Technology Inc. | 0.07% | 3,345 | $560K | Add +0.0% |
| QQQ Invesco QQQ Trust Series 1 | 0.06% | 903 | $542K | Add +13.6% |
| ABT Abbott Laboratories | 0.06% | 4,014 | $538K | Add +3.5% |
| PCY Invesco Emerging Markets Sov | 0.06% | 24,802 | $535K | Add +2.9% |
| SOLV Solventum Corp. | 0.06% | 6,948 | $507K | Add +24.4% |
| DGRE Wisdomtree Emerging Markets | 0.06% | 17,635 | $506K | Add +2.4% |
| GIS General Mills Inc. | 0.06% | 9,854 | $497K | Add +17.7% |
| AMD Advanced Micro Devices | 0.06% | 3,067 | $496K | No change |
| META Meta Platforms Inc. Class A | 0.06% | 675 | $495K | Add +10.5% |
| HD Home Depot Inc. | 0.05% | 1,101 | $446K | No change |
| ORCL Oracle Corp. | 0.05% | 1,563 | $439K | No change |
| OHI Omega Healthcare Investors | 0.05% | 10,000 | $422K | No change |
| ITOT iShares Core S&P Total U.S. | 0.05% | 2,811 | $409K | Reduce -0.0% |
| AMP Ameriprise Financial Inc. | 0.05% | 819 | $402K | No change |
| PEP Pepsico Inc. | 0.05% | 2,837 | $398K | New |
| WMT Walmart Inc. | 0.05% | 3,821 | $394K | Add +0.9% |
| COR Cencora Inc. | 0.05% | 1,258 | $393K | No change |
| TRV The Travelers Cos Inc. | 0.05% | 1,406 | $393K | Add +0.1% |
| JNJ Johnson & Johnson | 0.05% | 2,106 | $391K | Add +31.1% |
| MP MP Materials Corp. | 0.05% | 5,741 | $385K | New |
| GMF State Street SPDR S&P Emergi | 0.04% | 2,629 | $365K | Reduce -8.3% |
| MO Altria Group Inc. | 0.04% | 5,437 | $359K | No change |
| DAL Delta Air Lines Inc. | 0.04% | 6,280 | $356K | Reduce -3.8% |
| WFC Wells Fargo & Co. | 0.04% | 3,979 | $334K | Reduce -23.7% |
| ACVF American Conservative Values | 0.04% | 6,649 | $328K | Add +11.8% |
| TSM Taiwan Semiconductor-SP ADR | 0.04% | 1,121 | $313K | Reduce -6.3% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 0.04% | 9,352 | $312K | Reduce -0.8% |
| VEA Vanguard Ftse Developed ETF | 0.03% | 4,900 | $294K | Add +4.2% |
| USB US Bancorp | 0.03% | 5,958 | $288K | Add +21.2% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.03% | 3,481 | $278K | Reduce -0.2% |
| CMA Comerica Inc. | 0.03% | 4,051 | $278K | No change |
| AVGO Broadcom Inc. | 0.03% | 834 | $275K | Reduce -4.1% |
| ABBV Abbvie Inc. | 0.03% | 1,176 | $272K | Reduce -0.5% |
| CSCO Cisco Systems Inc. | 0.03% | 3,895 | $267K | No change |
| PSO Pearson PLC-Sponsored ADR | 0.03% | 18,244 | $258K | No change |
| IGM iShares Expanded Tech Sector | 0.03% | 2,040 | $257K | No change |
| AMGN Amgen Inc. | 0.03% | 906 | $256K | No change |
| LRCX Lam Research Corp. | 0.03% | 1,881 | $252K | New |
| VOO Vanguard S&P 500 ETF | 0.03% | 410 | $251K | Add +6.5% |
| RTX RTX Corp. | 0.03% | 1,497 | $250K | No change |
| CAT Caterpillar Inc. | 0.03% | 510 | $243K | New |
Portfolio Sells Q2 2025 → Q3 2025
| BND Vanguard Total Bond Market | Reduce -7.4% | 4.18% | −0.74 |
| DFIC Dimensional International Co. | Reduce -8.0% | 3.33% | −0.45 |
| IWM iShares Russell 2000 ETF | Reduce -6.7% | 2.82% | −0.15 |
| DFAE Dimensional Emerging Core Eq | Reduce -7.1% | 1.22% | −0.11 |
| HON Honeywell International Inc. | Reduce -0.8% | 0.42% | −0.10 |
| DFAC Dimensional US Core Equity 2 | Reduce -2.7% | 1.36% | −0.07 |
| SPGM State Street SPDR Portfolio | Reduce -15.8% | 0.27% | −0.06 |
| SCHG Schwab US Large-Cap Growth | Reduce -22.2% | 0.17% | −0.05 |
| SCHD Schwab US DVD Equity ETF | Reduce -6.9% | 0.26% | −0.04 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -1.8% | 0.34% | −0.03 |
| TRI Thomson Reuters Corp. | Sold out | 0.00% | −0.03 |
| ADBE Adobe Inc. | Sold out | 0.00% | −0.03 |
| EFA iShares MSCI Eafe ETF | Reduce -5.1% | 0.21% | −0.02 |
| ECL Ecolab Inc. | Reduce -14.6% | 0.07% | −0.02 |
| XEL Xcel Energy Inc. | Reduce -22.3% | 0.10% | −0.02 |
| AMZN Amazon.com Inc. | Reduce -0.1% | 0.16% | −0.02 |
| SCHZ Schwab US Aggregate Bond ETF | Reduce -3.0% | 0.13% | −0.02 |
| WFC Wells Fargo & Co. | Reduce -23.7% | 0.04% | −0.01 |
| SCHA Schwab US Small-Cap ETF | Reduce -7.8% | 0.14% | −0.01 |
| SCHB Schwab US Broad Market ETF | Reduce -1.5% | 0.30% | −0.01 |
| LLY Eli Lilly & Co. | Reduce -2.6% | 0.07% | −0.01 |
| IWD iShares Russell 1000 Value E | Reduce -0.0% | 0.19% | −0.01 |
| SCHF Schwab Intl Equity ETF | Reduce -0.5% | 0.19% | −0.01 |
| GOLDEN OCEAN GROUP LTD | Sold out | 0.00% | −0.01 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.0% | 0.10% | −0.01 |
| TGT Target Corp. | Reduce -2.4% | 0.03% | −0.01 |
| VGK Vanguard Ftse Europe ETF | Reduce -0.8% | 0.08% | −0.01 |
| TT Trane Technologies PLC | Reduce -1.9% | 0.03% | −0.00 |
| GMF State Street SPDR S&P Emergi | Reduce -8.3% | 0.04% | −0.00 |
| IBM Intl Business Machines Corp. | Reduce -0.1% | 0.02% | −0.00 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -0.2% | 0.03% | −0.00 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -1.3% | 0.07% | −0.00 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -0.2% | 0.07% | −0.00 |
| ITOT iShares Core S&P Total U.S. | Reduce -0.0% | 0.05% | −0.00 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Reduce -0.8% | 0.04% | −0.00 |
| DAL Delta Air Lines Inc. | Reduce -3.8% | 0.04% | +0.00 |
| AVGO Broadcom Inc. | Reduce -4.1% | 0.03% | +0.00 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -6.3% | 0.04% | +0.00 |
| ABBV Abbvie Inc. | Reduce -0.5% | 0.03% | +0.00 |
| UNH Unitedhealth Group Inc. | Reduce -0.0% | 0.70% | +0.00 |
| DCI Donaldson Co. Inc. | Reduce -1.6% | 0.30% | +0.02 |
| AAPL Apple Inc. | Reduce -3.6% | 0.90% | +0.07 |
Portfolio Buys Q2 2025 → Q3 2025
| DFUS Dimensional US Eq MKT ETF | Add +4.5% | 21.37% | +0.53 |
| DFSD Dimensional Short Duration | Add +13.6% | 8.04% | +0.28 |
| DFAS Dimensional US Small Cap ETF | Add +6.0% | 7.54% | +0.25 |
| DFAX Dimensional World Ex US Core | Add +4.4% | 16.82% | +0.23 |
| DFAT Dimensional US Target Value | Add +6.4% | 5.05% | +0.21 |
| DFCF Dimensional Core Fixed Inc. | Add +10.3% | 13.94% | +0.18 |
| MMM 3M Co. | Add +24.1% | 0.51% | +0.07 |
| NVDA Nvidia Corp. | Add +0.1% | 0.82% | +0.06 |
| TSLA Tesla Inc. | Add +3.6% | 0.20% | +0.05 |
| PEP Pepsico Inc. | New | 0.05% | +0.05 |
| MP MP Materials Corp. | New | 0.05% | +0.05 |
| LRCX Lam Research Corp. | New | 0.03% | +0.03 |
| CAT Caterpillar Inc. | New | 0.03% | +0.03 |
| ENTG Entegris Inc. | New | 0.03% | +0.03 |
| MDY State Street SPDR S&P Midcap | New | 0.02% | +0.02 |
| UNFI United Natural Foods Inc. | New | 0.02% | +0.02 |
| BSX Boston Scientific Corp. | Add +64.0% | 0.07% | +0.02 |
| GOOGL Alphabet Inc. Class A | Add +3.3% | 0.07% | +0.02 |
| JNJ Johnson & Johnson | Add +31.1% | 0.05% | +0.01 |
| MU Micron Technology Inc. | Add +0.0% | 0.07% | +0.01 |
| IVV iShares Core S&P 500 ETF | Add +10.2% | 0.11% | +0.01 |
| QQQ Invesco QQQ Trust Series 1 | Add +13.6% | 0.06% | +0.01 |
| IWF iShares Russell 1000 Growth | Add +1.7% | 0.29% | +0.01 |
| USB US Bancorp | Add +21.2% | 0.03% | +0.01 |
| SOLV Solventum Corp. | Add +24.4% | 0.06% | +0.00 |
| ACVF American Conservative Values | Add +11.8% | 0.04% | +0.00 |
| GIS General Mills Inc. | Add +17.7% | 0.06% | +0.00 |
| VOO Vanguard S&P 500 ETF | Add +6.5% | 0.03% | +0.00 |
| META Meta Platforms Inc. Class A | Add +10.5% | 0.06% | −0.00 |
| VEA Vanguard Ftse Developed ETF | Add +4.2% | 0.03% | −0.00 |
| PCY Invesco Emerging Markets Sov | Add +2.9% | 0.06% | −0.00 |
| WMT Walmart Inc. | Add +0.9% | 0.05% | −0.00 |
| DGRE Wisdomtree Emerging Markets | Add +2.4% | 0.06% | −0.00 |
| QYLD Global X Nasd 100 Cov Call | Add +0.5% | 0.03% | −0.00 |
| TRV The Travelers Cos Inc. | Add +0.1% | 0.05% | −0.00 |
| PFE Pfizer Inc. | Add +0.0% | 0.08% | −0.00 |
| ACWI iShares MSCI Acwi ETF | Add +0.4% | 0.19% | −0.00 |
| DFGR Dim Global Real Estate ETF | Add +7.9% | 2.31% | −0.00 |
| SCHM Schwab US Mid Cap ETF | Add +0.4% | 0.13% | −0.00 |
| ABT Abbott Laboratories | Add +3.5% | 0.06% | −0.01 |
| IFLN Invesco Bloomberg Enhanced F | Add +2.8% | 0.10% | −0.01 |
| SCHO Schwab Short-Term US Treas | Add +2.2% | 0.16% | −0.01 |
| CORP PIMCO Inv Grade Corp. BD ETF | Add +2.4% | 0.20% | −0.01 |
| VGSH Vanguard Short-Term Treasury | Add +0.5% | 0.13% | −0.01 |
| SPLV Invesco S&P 500 Low Volatili | Add +1.9% | 0.20% | −0.01 |
| MSFT Microsoft Corp. | Add +1.3% | 0.33% | −0.01 |
| SRLN SS Blackstone Sr Loan ETF | Add +1.3% | 0.18% | −0.02 |
| COST Costco Wholesale Corp. | Add +0.2% | 0.19% | −0.03 |
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 |