Great Waters Wealth Management
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 15, 2026), Great Waters Wealth Management reported 117 stock positions worth $909.0 million. Its top holding was Dimensional US Eq MKT ETF (DFUS) at 21.9% of the portfolio, followed by Dimensional World Ex US Core (DFAX, 17.5%) and Dimensional Core Fixed (DFCF, 14.6%). Compared with Q3 2025, it opened 4 new positions, sold out of 2, added to 38 and reduced 45. The biggest buy was Dimensional Core Fixed (DFCF, shares +13%) and the biggest sale Dimensional International (DFIC, shares −19%).
- Most Recent 13F
- Q2 2026
- Location
- SHOREVIEW, MN
- CIK
- 0001964535
- Portfolio Value
- $909.0M (Q4 2025)
- SEC Filing
- 0001964535-26-000001 ↗ filed Jan 15, 2026
Holdings Value
Holdings 117 stocks · $909.0M
| DFUS Dimensional US Eq MKT ETF | 21.91% | 2,685,540 | $199.2M | Add +7.5% |
| DFAX Dimensional World Ex US Core | 17.45% | 4,847,406 | $158.7M | Add +6.8% |
| DFCF Dimensional Core Fixed Inc. | 14.58% | 3,114,229 | $132.5M | Add +12.9% |
| DFSD Dimensional Short Duration | 8.23% | 1,559,797 | $74.8M | Add +10.5% |
| DFAS Dimensional US Small Cap ETF | 8.04% | 1,049,586 | $73.1M | Add +12.5% |
| DFAT Dimensional US Target Value | 5.39% | 823,389 | $49.0M | Add +12.1% |
| BND Vanguard Total Bond Market | 3.50% | 429,826 | $31.8M | Reduce -9.7% |
| DFIC Dimensional International Co. | 2.63% | 694,771 | $23.9M | Reduce -19.2% |
| DFGR Dim Global Real Estate ETF | 2.42% | 831,153 | $22.0M | Add +15.9% |
| IWM iShares Russell 2000 ETF | 2.25% | 82,977 | $20.4M | Reduce -15.9% |
| DFAC Dimensional US Core Equity 2 | 1.31% | 300,851 | $11.9M | Add +0.5% |
| DFAE Dimensional Emerging Core Eq | 0.95% | 265,001 | $8.6M | Reduce -19.4% |
| AAPL Apple Inc. | 0.89% | 29,919 | $8.1M | Reduce -0.2% |
| NVDA Nvidia Corp. | 0.73% | 35,479 | $6.6M | Reduce -4.7% |
| UNH Unitedhealth Group Inc. | 0.62% | 17,197 | $5.7M | Reduce -0.3% |
| MMM 3M Co. | 0.43% | 24,262 | $3.9M | Reduce -13.0% |
| HON Honeywell International Inc. | 0.36% | 16,731 | $3.3M | Reduce -1.4% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.31% | 55,704 | $2.8M | Reduce -4.3% |
| DCI Donaldson Co. Inc. | 0.30% | 30,419 | $2.7M | Reduce -1.3% |
| SCHB Schwab US Broad Market ETF | 0.28% | 95,714 | $2.5M | Reduce -1.5% |
| SPGM State Street SPDR Portfolio | 0.27% | 32,008 | $2.5M | Add +3.1% |
| IWF iShares Russell 1000 Growth | 0.26% | 5,088 | $2.4M | Reduce -2.5% |
| MSFT Microsoft Corp. | 0.26% | 4,909 | $2.4M | Reduce -8.2% |
| SCHD Schwab US DVD Equity ETF | 0.24% | 81,142 | $2.2M | Add +1.9% |
| TSLA Tesla Inc. | 0.22% | 4,446 | $2.0M | Add +15.7% |
| EFA iShares MSCI Eafe ETF | 0.21% | 19,524 | $1.9M | Add +1.5% |
| CORP PIMCO Inv Grade Corp. BD ETF | 0.20% | 18,710 | $1.8M | Add +7.9% |
| ACWI iShares MSCI Acwi ETF | 0.19% | 12,098 | $1.7M | Add +2.2% |
| SCHF Schwab Intl Equity ETF | 0.18% | 69,651 | $1.7M | Add +1.8% |
| SPLV Invesco S&P 500 Low Volatili | 0.18% | 23,302 | $1.7M | Add +3.3% |
| IWD iShares Russell 1000 Value E | 0.18% | 7,850 | $1.7M | Reduce -1.1% |
| SRLN SS Blackstone Sr Loan ETF | 0.18% | 39,774 | $1.6M | Add +9.2% |
| COST Costco Wholesale Corp. | 0.16% | 1,722 | $1.5M | Reduce -2.9% |
| SCHG Schwab US Large-Cap Growth | 0.16% | 44,915 | $1.5M | Reduce -1.4% |
| SCHO Schwab Short-Term US Treas | 0.16% | 59,012 | $1.4M | Add +9.7% |
| AMZN Amazon.com Inc. | 0.15% | 6,063 | $1.4M | Reduce -0.8% |
| SCHA Schwab US Small-Cap ETF | 0.13% | 42,849 | $1.2M | Add +1.6% |
| SCHM Schwab US Mid Cap ETF | 0.12% | 37,385 | $1.1M | Add +1.1% |
| MDT Medtronic PLC | 0.12% | 11,676 | $1.1M | Reduce -1.3% |
| FICO Fair Isaac Corp. | 0.12% | 637 | $1.1M | No change |
| SCHZ Schwab US Aggregate Bond ETF | 0.12% | 45,759 | $1.1M | Reduce -0.1% |
| VGSH Vanguard Short-Term Treasury | 0.12% | 18,180 | $1.1M | Reduce -4.4% |
| MU Micron Technology Inc. | 0.10% | 3,345 | $955K | No change |
| IFLN Invesco Bloomberg Enhanced F | 0.10% | 48,629 | $905K | Add +3.4% |
| IVV iShares Core S&P 500 ETF | 0.10% | 1,311 | $898K | Reduce -5.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.10% | 1,768 | $889K | No change |
| MCK McKesson Corp. | 0.09% | 992 | $814K | No change |
| LLY Eli Lilly & Co. | 0.09% | 748 | $804K | No change |
| XEL Xcel Energy Inc. | 0.09% | 10,525 | $777K | Add +0.1% |
| TER Teradyne Inc. | 0.09% | 4,012 | $777K | Reduce -19.9% |
| GOOGL Alphabet Inc. Class A | 0.08% | 2,378 | $744K | Reduce -2.9% |
| MCD McDonald's Corp. | 0.08% | 2,351 | $719K | Reduce -14.7% |
| VGK Vanguard Ftse Europe ETF | 0.07% | 7,868 | $658K | Reduce -2.6% |
| AMD Advanced Micro Devices | 0.07% | 3,067 | $657K | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.07% | 936 | $639K | Add +0.1% |
| PFE Pfizer Inc. | 0.07% | 25,525 | $636K | Reduce -0.4% |
| CL Colgate-Palmolive Co. | 0.06% | 7,305 | $577K | No change |
| VTI VG Morningstar TS MKT ETF-US | 0.06% | 1,673 | $561K | Reduce -4.3% |
| DGRE Wisdomtree Emerging Markets | 0.06% | 17,765 | $556K | Add +0.7% |
| QQQ Invesco QQQ Trust Series 1 | 0.06% | 903 | $555K | No change |
| BSX Boston Scientific Corp. | 0.06% | 5,766 | $550K | Reduce -0.1% |
| ECL Ecolab Inc. | 0.06% | 2,059 | $540K | Reduce -10.1% |
| PCY Invesco Emerging Markets Sov | 0.06% | 24,372 | $528K | Reduce -1.7% |
| ABT Abbott Laboratories | 0.06% | 3,997 | $501K | Reduce -0.4% |
| GIS General Mills Inc. | 0.05% | 10,406 | $484K | Add +5.6% |
| OHI Omega Healthcare Investors | 0.05% | 10,000 | $443K | No change |
| SOLV Solventum Corp. | 0.05% | 5,585 | $443K | Reduce -19.6% |
| JNJ Johnson & Johnson | 0.05% | 2,106 | $436K | No change |
| DAL Delta Air Lines Inc. | 0.05% | 6,281 | $436K | Add +0.0% |
| COR Cencora Inc. | 0.05% | 1,258 | $425K | No change |
| ITOT iShares Core S&P Total U.S. | 0.05% | 2,854 | $424K | Add +1.5% |
| TRV The Travelers Cos Inc. | 0.04% | 1,409 | $409K | Add +0.2% |
| PEP Pepsico Inc. | 0.04% | 2,837 | $407K | No change |
| META Meta Platforms Inc. Class A | 0.04% | 610 | $402K | Reduce -9.6% |
| AMP Ameriprise Financial Inc. | 0.04% | 819 | $401K | No change |
| WMT Walmart Inc. | 0.04% | 3,517 | $392K | Reduce -8.0% |
| TTC Toro Co. | 0.04% | 4,947 | $389K | Reduce -40.9% |
| HD Home Depot Inc. | 0.04% | 1,102 | $379K | Add +0.1% |
| WFC Wells Fargo & Co. | 0.04% | 3,942 | $367K | Reduce -0.9% |
| GMF State Street SPDR S&P Emergi | 0.04% | 2,643 | $367K | Add +0.5% |
| CMA Comerica Inc. | 0.04% | 4,051 | $352K | No change |
| TSM Taiwan Semiconductor-SP ADR | 0.04% | 1,114 | $339K | Reduce -0.6% |
| ACVF American Conservative Values | 0.04% | 6,659 | $329K | Add +0.1% |
| AVGO Broadcom Inc. | 0.04% | 934 | $323K | Add +12.0% |
| LRCX Lam Research Corp. | 0.04% | 1,881 | $322K | No change |
| USB US Bancorp | 0.04% | 5,969 | $319K | Add +0.2% |
| MO Altria Group Inc. | 0.03% | 5,437 | $314K | No change |
| SCHE Schwab Emrg Mrkts Eqty ETF | 0.03% | 9,548 | $313K | Add +2.1% |
| VEA Vanguard Ftse Developed ETF | 0.03% | 4,931 | $308K | Add +0.6% |
| ORCL Oracle Corp. | 0.03% | 1,559 | $304K | Reduce -0.3% |
| AMGN Amgen Inc. | 0.03% | 906 | $297K | No change |
| CSCO Cisco Systems Inc. | 0.03% | 3,845 | $296K | Reduce -1.3% |
| CAT Caterpillar Inc. | 0.03% | 510 | $292K | No change |
| MP MP Materials Corp. | 0.03% | 5,741 | $290K | No change |
| VOO Vanguard S&P 500 ETF | 0.03% | 460 | $289K | Add +12.2% |
| ROST Ross Stores Inc. | 0.03% | 1,553 | $280K | New |
| VCSH Vanguard S/T Corp. Bond ETF | 0.03% | 3,452 | $275K | Reduce -0.8% |
| ABBV Abbvie Inc. | 0.03% | 1,181 | $270K | Add +0.4% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.03% | 1,404 | $268K | New |
| IGM iShares Expanded Tech Sector | 0.03% | 2,028 | $262K | Reduce -0.6% |
Portfolio Sells Q3 2025 → Q4 2025
| DFIC Dimensional International Co. | Reduce -19.2% | 2.63% | −0.70 |
| BND Vanguard Total Bond Market | Reduce -9.7% | 3.50% | −0.68 |
| IWM iShares Russell 2000 ETF | Reduce -15.9% | 2.25% | −0.57 |
| DFAE Dimensional Emerging Core Eq | Reduce -19.4% | 0.95% | −0.28 |
| NVDA Nvidia Corp. | Reduce -4.7% | 0.73% | −0.09 |
| MMM 3M Co. | Reduce -13.0% | 0.43% | −0.08 |
| UNH Unitedhealth Group Inc. | Reduce -0.3% | 0.62% | −0.08 |
| MSFT Microsoft Corp. | Reduce -8.2% | 0.26% | −0.07 |
| HON Honeywell International Inc. | Reduce -1.4% | 0.36% | −0.06 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -4.3% | 0.31% | −0.04 |
| TTC Toro Co. | Reduce -40.9% | 0.04% | −0.03 |
| COST Costco Wholesale Corp. | Reduce -2.9% | 0.16% | −0.03 |
| RTX RTX Corp. | Sold out | 0.00% | −0.03 |
| IWF iShares Russell 1000 Growth | Reduce -2.5% | 0.26% | −0.02 |
| UNFI United Natural Foods Inc. | Sold out | 0.00% | −0.02 |
| MCD McDonald's Corp. | Reduce -14.7% | 0.08% | −0.02 |
| SCHB Schwab US Broad Market ETF | Reduce -1.5% | 0.28% | −0.02 |
| ORCL Oracle Corp. | Reduce -0.3% | 0.03% | −0.02 |
| ECL Ecolab Inc. | Reduce -10.1% | 0.06% | −0.01 |
| VGSH Vanguard Short-Term Treasury | Reduce -4.4% | 0.12% | −0.01 |
| META Meta Platforms Inc. Class A | Reduce -9.6% | 0.04% | −0.01 |
| SOLV Solventum Corp. | Reduce -19.6% | 0.05% | −0.01 |
| IVV iShares Core S&P 500 ETF | Reduce -5.3% | 0.10% | −0.01 |
| SCHG Schwab US Large-Cap Growth | Reduce -1.4% | 0.16% | −0.01 |
| MDT Medtronic PLC | Reduce -1.3% | 0.12% | −0.01 |
| SCHZ Schwab US Aggregate Bond ETF | Reduce -0.1% | 0.12% | −0.01 |
| IWD iShares Russell 1000 Value E | Reduce -1.1% | 0.18% | −0.01 |
| ABT Abbott Laboratories | Reduce -0.4% | 0.06% | −0.01 |
| AAPL Apple Inc. | Reduce -0.2% | 0.89% | −0.01 |
| PFE Pfizer Inc. | Reduce -0.4% | 0.07% | −0.01 |
| BSX Boston Scientific Corp. | Reduce -0.1% | 0.06% | −0.01 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -4.3% | 0.06% | −0.01 |
| PCY Invesco Emerging Markets Sov | Reduce -1.7% | 0.06% | −0.01 |
| AMZN Amazon.com Inc. | Reduce -0.8% | 0.15% | −0.00 |
| PSO Pearson PLC-Sponsored ADR | Reduce -7.9% | 0.03% | −0.00 |
| VGK Vanguard Ftse Europe ETF | Reduce -2.6% | 0.07% | −0.00 |
| WMT Walmart Inc. | Reduce -8.0% | 0.04% | −0.00 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -0.8% | 0.03% | −0.00 |
| SOLS Solstice Adv Materials Inc. | Reduce -0.3% | 0.02% | −0.00 |
| IGM iShares Expanded Tech Sector | Reduce -0.6% | 0.03% | −0.00 |
| DCI Donaldson Co. Inc. | Reduce -1.3% | 0.30% | −0.00 |
| TGT Target Corp. | Reduce -2.5% | 0.03% | −0.00 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -0.6% | 0.04% | +0.00 |
| WFC Wells Fargo & Co. | Reduce -0.9% | 0.04% | +0.00 |
| CSCO Cisco Systems Inc. | Reduce -1.3% | 0.03% | +0.00 |
| TER Teradyne Inc. | Reduce -19.9% | 0.09% | +0.00 |
| GOOGL Alphabet Inc. Class A | Reduce -2.9% | 0.08% | +0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| DFCF Dimensional Core Fixed Inc. | Add +12.9% | 14.58% | +0.64 |
| DFAX Dimensional World Ex US Core | Add +6.8% | 17.45% | +0.63 |
| DFUS Dimensional US Eq MKT ETF | Add +7.5% | 21.91% | +0.54 |
| DFAS Dimensional US Small Cap ETF | Add +12.5% | 8.04% | +0.50 |
| DFAT Dimensional US Target Value | Add +12.1% | 5.39% | +0.34 |
| DFSD Dimensional Short Duration | Add +10.5% | 8.23% | +0.19 |
| DFGR Dim Global Real Estate ETF | Add +15.9% | 2.42% | +0.10 |
| ROST Ross Stores Inc. | New | 0.03% | +0.03 |
| VTV Vanguard Mrngstr Val ETF-Aui | New | 0.03% | +0.03 |
| GOOG Alphabet Inc. Class C | New | 0.03% | +0.03 |
| VUG Vanguard Mrngstar GR ETF-Sui | New | 0.02% | +0.02 |
| TSLA Tesla Inc. | Add +15.7% | 0.22% | +0.02 |
| DAL Delta Air Lines Inc. | Add +0.0% | 0.05% | +0.01 |
| AVGO Broadcom Inc. | Add +12.0% | 0.04% | +0.00 |
| SCHO Schwab Short-Term US Treas | Add +9.7% | 0.16% | +0.00 |
| VOO Vanguard S&P 500 ETF | Add +12.2% | 0.03% | +0.00 |
| SRLN SS Blackstone Sr Loan ETF | Add +9.2% | 0.18% | +0.00 |
| DGRE Wisdomtree Emerging Markets | Add +0.7% | 0.06% | +0.00 |
| USB US Bancorp | Add +0.2% | 0.04% | +0.00 |
| CORP PIMCO Inv Grade Corp. BD ETF | Add +7.9% | 0.20% | −0.00 |
| QYLD Global X Nasd 100 Cov Call | Add +0.5% | 0.03% | −0.00 |
| VEA Vanguard Ftse Developed ETF | Add +0.6% | 0.03% | −0.00 |
| TRV The Travelers Cos Inc. | Add +0.2% | 0.04% | −0.00 |
| ITOT iShares Core S&P Total U.S. | Add +1.5% | 0.05% | −0.00 |
| ABBV Abbvie Inc. | Add +0.4% | 0.03% | −0.00 |
| ACVF American Conservative Values | Add +0.1% | 0.04% | −0.00 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Add +2.1% | 0.03% | −0.00 |
| GMF State Street SPDR S&P Emergi | Add +0.5% | 0.04% | −0.00 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +0.1% | 0.07% | −0.00 |
| IFLN Invesco Bloomberg Enhanced F | Add +3.4% | 0.10% | −0.00 |
| SCHF Schwab Intl Equity ETF | Add +1.8% | 0.18% | −0.00 |
| SPGM State Street SPDR Portfolio | Add +3.1% | 0.27% | −0.00 |
| SCHA Schwab US Small-Cap ETF | Add +1.6% | 0.13% | −0.00 |
| ACWI iShares MSCI Acwi ETF | Add +2.2% | 0.19% | −0.01 |
| GIS General Mills Inc. | Add +5.6% | 0.05% | −0.01 |
| EFA iShares MSCI Eafe ETF | Add +1.5% | 0.21% | −0.01 |
| SCHM Schwab US Mid Cap ETF | Add +1.1% | 0.12% | −0.01 |
| HD Home Depot Inc. | Add +0.1% | 0.04% | −0.01 |
| SCHD Schwab US DVD Equity ETF | Add +1.9% | 0.24% | −0.01 |
| SPLV Invesco S&P 500 Low Volatili | Add +3.3% | 0.18% | −0.01 |
| XEL Xcel Energy Inc. | Add +0.1% | 0.09% | −0.01 |
| DFAC Dimensional US Core Equity 2 | Add +0.5% | 1.31% | −0.05 |
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 |