Great Waters Wealth Management

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 17, 2026), Great Waters Wealth Management reported 121 stock positions worth $944.9 million. Its top holding was Dimensional US Eq MKT ETF (DFUS) at 21.1% of the portfolio, followed by Dimensional World Ex US Core (DFAX, 17.6%) and Dimensional Core Fixed (DFCF, 15.5%). Compared with Q4 2025, it opened 7 new positions, sold out of 3, added to 32 and reduced 51. The biggest buy was Dimensional Core Fixed (DFCF, shares +11%) and the biggest sale Vanguard Total Bond Market (BND, shares −5%).

Most Recent 13F
Q2 2026
Location
SHOREVIEW, MN
CIK
0001964535
Portfolio Value
$944.9M (Q1 2026)
SEC Filing
0001964535-26-000002 ↗ filed Apr 17, 2026

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 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 $944.9M Q1 2026 Q2 2026: $1.1B Q2 2026

Holdings 121 stocks · $944.9M
DFUS Dimensional US Eq MKT ETF 21.15% 2,817,903 $199.8M Add +4.9%
DFAX Dimensional World Ex US Core 17.57% 4,886,852 $166.0M Add +0.8%
DFCF Dimensional Core Fixed Inc. 15.51% 3,471,448 $146.6M Add +11.5%
DFSD Dimensional Short Duration 9.04% 1,783,924 $85.4M Add +14.4%
DFAS Dimensional US Small Cap ETF 8.26% 1,096,574 $78.0M Add +4.5%
DFAT Dimensional US Target Value 5.64% 853,409 $53.3M Add +3.6%
BND Vanguard Total Bond Market 3.19% 409,862 $30.2M Reduce -4.6%
DFGR Dim Global Real Estate ETF 2.50% 888,367 $23.6M Add +6.9%
DFIC Dimensional International Co. 2.34% 621,030 $22.1M Reduce -10.6%
IWM iShares Russell 2000 ETF 2.04% 77,748 $19.3M Reduce -6.3%
DFAC Dimensional US Core Equity 2 1.21% 294,564 $11.4M Reduce -2.1%
DFAE Dimensional Emerging Core Eq 0.85% 236,533 $8.0M Reduce -10.7%
AAPL Apple Inc. 0.80% 29,852 $7.6M Reduce -0.2%
NVDA Nvidia Corp. 0.64% 34,402 $6.0M Reduce -3.0%
UNH Unitedhealth Group Inc. 0.54% 18,736 $5.1M Add +8.9%
HON Honeywell International Inc. 0.40% 16,687 $3.8M Reduce -0.3%
MMM 3M Co. 0.38% 24,529 $3.6M Add +1.1%
VTEB Vanguard Tax-Exempt Bond ETF 0.30% 57,099 $2.8M Add +2.5%
DCI Donaldson Co. Inc. 0.27% 30,219 $2.6M Reduce -0.7%
SCHD Schwab US DVD Equity ETF 0.26% 80,753 $2.5M Reduce -0.5%
SCHB Schwab US Broad Market ETF 0.25% 95,262 $2.4M Reduce -0.5%
SPGM State Street SPDR Portfolio 0.25% 31,492 $2.4M Reduce -1.6%
IWF iShares Russell 1000 Growth 0.23% 5,029 $2.1M Reduce -1.2%
EFA iShares MSCI Eafe ETF 0.20% 19,349 $1.9M Reduce -0.9%
MSFT Microsoft Corp. 0.20% 5,059 $1.9M Add +3.1%
CORP PIMCO Inv Grade Corp. BD ETF 0.19% 18,610 $1.8M Reduce -0.5%
COST Costco Wholesale Corp. 0.18% 1,710 $1.7M Reduce -0.7%
SPLV Invesco S&P 500 Low Volatili 0.18% 23,195 $1.7M Reduce -0.5%
IWD iShares Russell 1000 Value E 0.18% 7,841 $1.7M Reduce -0.1%
ACWI iShares MSCI Acwi ETF 0.18% 11,973 $1.7M Reduce -1.0%
TSLA Tesla Inc. 0.18% 4,456 $1.7M Add +0.2%
SCHF Schwab Intl Equity ETF 0.17% 65,042 $1.6M Reduce -6.6%
SRLN SS Blackstone Sr Loan ETF 0.17% 39,378 $1.6M Reduce -1.0%
SCHO Schwab Short-Term US Treas 0.15% 58,149 $1.4M Reduce -1.5%
SCHG Schwab US Large-Cap Growth 0.14% 44,506 $1.3M Reduce -0.9%
AMZN Amazon.com Inc. 0.14% 6,152 $1.3M Add +1.5%
SCHA Schwab US Small-Cap ETF 0.13% 42,355 $1.2M Reduce -1.1%
TER Teradyne Inc. 0.13% 4,012 $1.2M No change
SCHM Schwab US Mid Cap ETF 0.12% 36,628 $1.1M Reduce -2.0%
MU Micron Technology Inc. 0.12% 3,319 $1.1M Reduce -0.8%
VGSH Vanguard Short-Term Treasury 0.12% 18,713 $1.1M Add +2.9%
SCHZ Schwab US Aggregate Bond ETF 0.11% 45,340 $1.1M Reduce -0.9%
MDT Medtronic PLC 0.11% 11,646 $1.0M Reduce -0.3%
IFLN Invesco Bloomberg Enhanced F 0.09% 48,531 $871K Reduce -0.2%
IVV iShares Core S&P 500 ETF 0.09% 1,317 $860K Add +0.5%
MCK McKesson Corp. 0.09% 982 $850K Reduce -1.0%
BRK.B Berkshire Hathaway Inc. Class B 0.09% 1,768 $847K No change
XEL Xcel Energy Inc. 0.09% 10,458 $831K Reduce -0.6%
TT Trane Technologies PLC 0.08% 1,849 $771K Add +221.0%
PFE Pfizer Inc. 0.08% 25,513 $716K Reduce -0.1%
MCD McDonald's Corp. 0.07% 2,228 $693K Reduce -5.2%
LLY Eli Lilly & Co. 0.07% 748 $688K No change
FICO Fair Isaac Corp. 0.07% 637 $680K No change
GOOGL Alphabet Inc. Class A 0.07% 2,328 $669K Reduce -2.1%
VGK Vanguard Ftse Europe ETF 0.07% 7,863 $648K Reduce -0.1%
SPY SS SPDR S&P 500 ETF Trust-US 0.07% 989 $643K Add +5.7%
AMD Advanced Micro Devices 0.07% 3,093 $629K Add +0.8%
CL Colgate-Palmolive Co. 0.06% 7,048 $601K Reduce -3.5%
QQQ Invesco QQQ Trust Series 1 0.06% 1,031 $595K Add +14.2%
DGRE Wisdomtree Emerging Markets 0.06% 17,286 $573K Reduce -2.7%
JNJ Johnson & Johnson 0.06% 2,157 $527K Add +2.4%
VTI VG Morningstar TS MKT ETF-US 0.05% 1,591 $511K Reduce -4.9%
PCY Invesco Emerging Markets Sov 0.05% 24,208 $506K Reduce -0.7%
TTC Toro Co. 0.05% 4,947 $462K No change
PEP Pepsico Inc. 0.05% 2,838 $441K Add +0.0%
OHI Omega Healthcare Investors 0.05% 10,000 $438K No change
WMT Walmart Inc. 0.05% 3,517 $437K No change
DAL Delta Air Lines Inc. 0.05% 6,502 $432K Add +3.5%
ITOT iShares Core S&P Total U.S. 0.04% 2,900 $413K Add +1.6%
TRV The Travelers Cos Inc. 0.04% 1,411 $412K Add +0.1%
ABT Abbott Laboratories 0.04% 3,991 $410K Reduce -0.1%
LRCX Lam Research Corp. 0.04% 1,881 $402K No change
COR Cencora Inc. 0.04% 1,258 $395K No change
GIS General Mills Inc. 0.04% 10,183 $379K Reduce -2.1%
ECL Ecolab Inc. 0.04% 1,414 $376K Reduce -31.3%
TSM Taiwan Semiconductor-SP ADR 0.04% 1,096 $370K Reduce -1.6%
SOLV Solventum Corp. 0.04% 5,621 $367K Add +0.6%
AMP Ameriprise Financial Inc. 0.04% 819 $364K No change
HD Home Depot Inc. 0.04% 1,102 $362K No change
CAT Caterpillar Inc. 0.04% 510 $361K No change
BSX Boston Scientific Corp. 0.04% 5,745 $360K Reduce -0.4%
MO Altria Group Inc. 0.04% 5,438 $359K Add +0.0%
GMF State Street SPDR S&P Emergi 0.04% 2,622 $357K Reduce -0.8%
FITB Fifth Third Bancorp 0.04% 7,560 $351K New
META Meta Platforms Inc. Class A 0.04% 610 $349K No change
ROST Ross Stores Inc. 0.04% 1,553 $336K No change
SOLS Solstice Adv Materials Inc. 0.03% 4,231 $322K No change
ACVF American Conservative Values 0.03% 6,716 $320K Add +0.9%
AMGN Amgen Inc. 0.03% 906 $319K No change
VEA Vanguard Ftse Developed ETF 0.03% 4,964 $318K Add +0.7%
WFC Wells Fargo & Co. 0.03% 3,932 $313K Reduce -0.3%
USB US Bancorp 0.03% 5,891 $306K Reduce -1.3%
SCHE Schwab Emrg Mrkts Eqty ETF 0.03% 9,101 $300K Reduce -4.7%
CSCO Cisco Systems Inc. 0.03% 3,845 $298K No change
AVGO Broadcom Inc. 0.03% 934 $289K No change
VOO Vanguard S&P 500 ETF 0.03% 473 $283K Add +2.8%
ENTG Entegris Inc. 0.03% 2,379 $279K No change
MP MP Materials Corp. 0.03% 5,741 $277K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.03% 1,406 $276K Add +0.1%
TGT Target Corp. 0.03% 2,261 $274K Reduce -6.7%
VCSH Vanguard S/T Corp. Bond ETF 0.03% 3,364 $267K Reduce -2.5%
GOOG Alphabet Inc. Class C 0.03% 916 $263K Add +12.1%
ABBV Abbvie Inc. 0.03% 1,185 $258K Add +0.3%
CVX Chevron Corp. 0.03% 1,222 $253K New
XOM Exxon Mobil Corp. 0.03% 1,461 $248K New
LNT Alliant Energy Corp. 0.03% 3,447 $247K No change
UNFI United Natural Foods Inc. 0.03% 5,352 $241K New
IGM iShares Expanded Tech Sector 0.03% 2,028 $240K No change
FLRT Pacer Aristotle Pacific Floa 0.02% 4,993 $231K No change
ORCL Oracle Corp. 0.02% 1,559 $229K No change
ROK Rockwell Automation Inc. 0.02% 634 $228K No change
QYLD Global X Nasd 100 Cov Call 0.02% 13,066 $224K Reduce -3.8%
AMAT Applied Materials Inc. 0.02% 655 $224K New
PSO Pearson PLC-Sponsored ADR 0.02% 16,800 $221K No change
MDY State Street SPDR S&P Midcap 0.02% 348 $215K No change
NEE Nextera Energy Inc. 0.02% 2,288 $213K New
SPYM Ste STR SPDR PT S&P 500 ETF 0.02% 2,671 $204K New
PFFA Virtus Infracap US Pref STCK 0.02% 10,000 $204K No change
SFL SFL Corp. Ltd. 0.02% 15,000 $162K No change
BIZD Vaneck BDC Income ETF 0.02% 12,186 $156K No change
GNL Global Net Lease Inc. 0.01% 10,000 $94K No change

Portfolio Sells Q4 2025 → Q1 2026
BND Vanguard Total Bond Market Reduce -4.6% 3.19% −0.31
DFIC Dimensional International Co. Reduce -10.6% 2.34% −0.30
IWM iShares Russell 2000 ETF Reduce -6.3% 2.04% −0.21
DFAE Dimensional Emerging Core Eq Reduce -10.7% 0.85% −0.10
DFAC Dimensional US Core Equity 2 Reduce -2.1% 1.21% −0.10
AAPL Apple Inc. Reduce -0.2% 0.80% −0.09
NVDA Nvidia Corp. Reduce -3.0% 0.64% −0.09
CMA Comerica Inc. Sold out 0.00% −0.04
IWF iShares Russell 1000 Growth Reduce -1.2% 0.23% −0.04
DCI Donaldson Co. Inc. Reduce -0.7% 0.27% −0.03
SCHG Schwab US Large-Cap Growth Reduce -0.9% 0.14% −0.02
IBM Intl Business Machines Corp. Sold out 0.00% −0.02
SCHB Schwab US Broad Market ETF Reduce -0.5% 0.25% −0.02
VUG Vanguard Mrngstar GR ETF-Sui Sold out 0.00% −0.02
BSX Boston Scientific Corp. Reduce -0.4% 0.04% −0.02
ECL Ecolab Inc. Reduce -31.3% 0.04% −0.02
SPGM State Street SPDR Portfolio Reduce -1.6% 0.25% −0.02
MDT Medtronic PLC Reduce -0.3% 0.11% −0.02
SCHF Schwab Intl Equity ETF Reduce -6.6% 0.17% −0.01
SRLN SS Blackstone Sr Loan ETF Reduce -1.0% 0.17% −0.01
GIS General Mills Inc. Reduce -2.1% 0.04% −0.01
ACWI iShares MSCI Acwi ETF Reduce -1.0% 0.18% −0.01
ABT Abbott Laboratories Reduce -0.1% 0.04% −0.01
GOOGL Alphabet Inc. Class A Reduce -2.1% 0.07% −0.01
CORP PIMCO Inv Grade Corp. BD ETF Reduce -0.5% 0.19% −0.01
SCHO Schwab Short-Term US Treas Reduce -1.5% 0.15% −0.01
VTI VG Morningstar TS MKT ETF-US Reduce -4.9% 0.05% −0.01
IFLN Invesco Bloomberg Enhanced F Reduce -0.2% 0.09% −0.01
EFA iShares MSCI Eafe ETF Reduce -0.9% 0.20% −0.01
WFC Wells Fargo & Co. Reduce -0.3% 0.03% −0.01
SCHZ Schwab US Aggregate Bond ETF Reduce -0.9% 0.11% −0.01
MCD McDonald's Corp. Reduce -5.2% 0.07% −0.01
PCY Invesco Emerging Markets Sov Reduce -0.7% 0.05% −0.00
IWD iShares Russell 1000 Value E Reduce -0.1% 0.18% −0.00
SCHA Schwab US Small-Cap ETF Reduce -1.1% 0.13% −0.00
VGK Vanguard Ftse Europe ETF Reduce -0.1% 0.07% −0.00
SCHM Schwab US Mid Cap ETF Reduce -2.0% 0.12% −0.00
SPLV Invesco S&P 500 Low Volatili Reduce -0.5% 0.18% −0.00
QYLD Global X Nasd 100 Cov Call Reduce -3.8% 0.02% −0.00
SCHE Schwab Emrg Mrkts Eqty ETF Reduce -4.7% 0.03% −0.00
GMF State Street SPDR S&P Emergi Reduce -0.8% 0.04% −0.00
USB US Bancorp Reduce -1.3% 0.03% −0.00
VCSH Vanguard S/T Corp. Bond ETF Reduce -2.5% 0.03% −0.00
DGRE Wisdomtree Emerging Markets Reduce -2.7% 0.06% −0.00
CL Colgate-Palmolive Co. Reduce -3.5% 0.06% +0.00
MCK McKesson Corp. Reduce -1.0% 0.09% +0.00
TSM Taiwan Semiconductor-SP ADR Reduce -1.6% 0.04% +0.00
XEL Xcel Energy Inc. Reduce -0.6% 0.09% +0.00
TGT Target Corp. Reduce -6.7% 0.03% +0.00
PFE Pfizer Inc. Reduce -0.1% 0.08% +0.01

Portfolio Buys Q4 2025 → Q1 2026
DFCF Dimensional Core Fixed Inc. Add +11.5% 15.51% +0.93
DFSD Dimensional Short Duration Add +14.4% 9.04% +0.81
DFAT Dimensional US Target Value Add +3.6% 5.64% +0.25
DFAS Dimensional US Small Cap ETF Add +4.5% 8.26% +0.21
DFAX Dimensional World Ex US Core Add +0.8% 17.57% +0.12
DFGR Dim Global Real Estate ETF Add +6.9% 2.50% +0.08
TT Trane Technologies PLC Add +221.0% 0.08% +0.06
FITB Fifth Third Bancorp New 0.04% +0.04
CVX Chevron Corp. New 0.03% +0.03
XOM Exxon Mobil Corp. New 0.03% +0.03
UNFI United Natural Foods Inc. New 0.03% +0.03
AMAT Applied Materials Inc. New 0.02% +0.02
NEE Nextera Energy Inc. New 0.02% +0.02
SPYM Ste STR SPDR PT S&P 500 ETF New 0.02% +0.02
JNJ Johnson & Johnson Add +2.4% 0.06% +0.01
MO Altria Group Inc. Add +0.0% 0.04% +0.00
QQQ Invesco QQQ Trust Series 1 Add +14.2% 0.06% +0.00
PEP Pepsico Inc. Add +0.0% 0.05% +0.00
VEA Vanguard Ftse Developed ETF Add +0.7% 0.03% −0.00
VTV Vanguard Mrngstr Val ETF-Aui Add +0.1% 0.03% −0.00
GOOG Alphabet Inc. Class C Add +12.1% 0.03% −0.00
TRV The Travelers Cos Inc. Add +0.1% 0.04% −0.00
VGSH Vanguard Short-Term Treasury Add +2.9% 0.12% −0.00
VOO Vanguard S&P 500 ETF Add +2.8% 0.03% −0.00
DAL Delta Air Lines Inc. Add +3.5% 0.05% −0.00
SPY SS SPDR S&P 500 ETF Trust-US Add +5.7% 0.07% −0.00
ACVF American Conservative Values Add +0.9% 0.03% −0.00
ABBV Abbvie Inc. Add +0.3% 0.03% −0.00
ITOT iShares Core S&P Total U.S. Add +1.6% 0.04% −0.00
AMD Advanced Micro Devices Add +0.8% 0.07% −0.01
VTEB Vanguard Tax-Exempt Bond ETF Add +2.5% 0.30% −0.01
IVV iShares Core S&P 500 ETF Add +0.5% 0.09% −0.01
SOLV Solventum Corp. Add +0.6% 0.04% −0.01
AMZN Amazon.com Inc. Add +1.5% 0.14% −0.02
TSLA Tesla Inc. Add +0.2% 0.18% −0.04
MMM 3M Co. Add +1.1% 0.38% −0.05
MSFT Microsoft Corp. Add +3.1% 0.20% −0.06
UNH Unitedhealth Group Inc. Add +8.9% 0.54% −0.09
DFUS Dimensional US Eq MKT ETF Add +4.9% 21.15% −0.77

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