# EDGAR Filing Document

**Accession Number:** 0001964535
**File Stem:** 0001964535-25-000006
**Filing Date:** 2025-10
**Character Count:** 15051
**Document Hash:** 9017324a01b9b588f9786872227160bd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001964535-25-000006.hdr.sgml**: 20251014

**ACCESSION NUMBER**: 0001964535-25-000006

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251014

**DATE AS OF CHANGE**: 20251014

**EFFECTIVENESS DATE**: 20251014

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Great Waters Wealth Management
- **CENTRAL INDEX KEY:** 0001964535

**ORGANIZATION NAME:**
- **EIN:** 844771850
- **STATE OF INCORPORATION:** MN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-22807
- **FILM NUMBER:** 251392315

**BUSINESS ADDRESS:**
- **STREET 1:** 4100 LEXINGTON AVE.
- **STREET 2:** SUITE 100
- **CITY:** SHOREVIEW
- **STATE:** MN
- **ZIP:** 55126
- **BUSINESS PHONE:** 612-360-2127

**MAIL ADDRESS:**
- **STREET 1:** 4100 LEXINGTON AVE.
- **STREET 2:** SUITE 100
- **CITY:** SHOREVIEW
- **STATE:** MN
- **ZIP:** 55126

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Great Waters Wealth Management<br>**Address:** 4100 LEXINGTON AVE.<br>SUITE 100<br>SHOREVIEW, MN 55126

**Form 13F File Number:** 028-22807

**CRD Number (if applicable):** 000308215

**SEC File Number (if applicable):** 801-123543

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Justin Halverson<br>**Title:** Chief Compliance Officer<br>**Phone:** 612-360-2127

**Signature, Place, and Date of Signing:**

Justin Halverson  Shoreview, MN  10-14-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 114

**Form 13F Information Table Value Total:** $846420284

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 3M CO | COM | 88579Y101 |  | 4329372 | 27899 | SH |  | SOLE |  | 0 | 0 | 27899 |
| ABBOTT LABS | COM | 002824100 |  | 537610 | 4014 | SH |  | SOLE |  | 0 | 0 | 4014 |
| ABBVIE INC | COM | 00287Y109 |  | 272380 | 1176 | SH |  | SOLE |  | 0 | 0 | 1176 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 496210 | 3067 | SH |  | SOLE |  | 0 | 0 | 3067 |
| ALLIANT ENERGY CORP | COM | 018802108 |  | 232362 | 3447 | SH |  | SOLE |  | 0 | 0 | 3447 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 595023 | 2448 | SH |  | SOLE |  | 0 | 0 | 2448 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 359193 | 5437 | SH |  | SOLE |  | 0 | 0 | 5437 |
| AMAZON COM INC | COM | 023135106 |  | 1342260 | 6113 | SH |  | SOLE |  | 0 | 0 | 6113 |
| AMERIPRISE FINL INC | COM | 03076C106 |  | 402177 | 819 | SH |  | SOLE |  | 0 | 0 | 819 |
| AMGEN INC | COM | 031162100 |  | 255673 | 906 | SH |  | SOLE |  | 0 | 0 | 906 |
| APPLE INC | COM | 037833100 |  | 7636531 | 29991 | SH |  | SOLE |  | 0 | 0 | 29991 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 888735 | 1768 | SH |  | SOLE |  | 0 | 0 | 1768 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 563227 | 5769 | SH |  | SOLE |  | 0 | 0 | 5769 |
| BROADCOM INC | COM | 11135F101 |  | 275145 | 834 | SH |  | SOLE |  | 0 | 0 | 834 |
| CATERPILLAR INC | COM | 149123101 |  | 243369 | 510 | SH |  | SOLE |  | 0 | 0 | 510 |
| CENCORA INC | COM | 03073E105 |  | 393163 | 1258 | SH |  | SOLE |  | 0 | 0 | 1258 |
| CISCO SYS INC | COM | 17275R102 |  | 266505 | 3895 | SH |  | SOLE |  | 0 | 0 | 3895 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 583962 | 7305 | SH |  | SOLE |  | 0 | 0 | 7305 |
| COMERICA INC | COM | 200340107 |  | 277575 | 4051 | SH |  | SOLE |  | 0 | 0 | 4051 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 1641152 | 1773 | SH |  | SOLE |  | 0 | 0 | 1773 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 356409 | 6280 | SH |  | SOLE |  | 0 | 0 | 6280 |
| DIMENSIONAL ETF TRUST | EMGR CRE EQT MNG | 25434V302 |  | 10367268 | 328806 | SH |  | SOLE |  | 0 | 0 | 328806 |
| DIMENSIONAL ETF TRUST | US EQUITY MARKET | 25434V401 |  | 180882379 | 2496996 | SH |  | SOLE |  | 0 | 0 | 2496996 |
| DIMENSIONAL ETF TRUST | US SMALL CAP ETF | 25434V500 |  | 63852503 | 932698 | SH |  | SOLE |  | 0 | 0 | 932698 |
| DIMENSIONAL ETF TRUST | US TARGETED VLU | 25434V609 |  | 42775427 | 734847 | SH |  | SOLE |  | 0 | 0 | 734847 |
| DIMENSIONAL ETF TRUST | GLOBAL REAL EST | 25434V658 |  | 19591612 | 717379 | SH |  | SOLE |  | 0 | 0 | 717379 |
| DIMENSIONAL ETF TRUST | US CORE EQUITY 2 | 25434V708 |  | 11541366 | 299232 | SH |  | SOLE |  | 0 | 0 | 299232 |
| DIMENSIONAL ETF TRUST | INTL CORE EQUITY | 25434V799 |  | 28200393 | 860030 | SH |  | SOLE |  | 0 | 0 | 860030 |
| DIMENSIONAL ETF TRUST | SHORT DURATION F | 25434V864 |  | 68030073 | 1411705 | SH |  | SOLE |  | 0 | 0 | 1411705 |
| DIMENSIONAL ETF TRUST | CORE FIXED INCOM | 25434V872 |  | 117972634 | 2758948 | SH |  | SOLE |  | 0 | 0 | 2758948 |
| DIMENSIONAL ETF TRUST | WORLD EX US CORE | 25434V880 |  | 142370248 | 4536974 | SH |  | SOLE |  | 0 | 0 | 4536974 |
| DONALDSON INC | COM | 257651109 |  | 2522535 | 30819 | SH |  | SOLE |  | 0 | 0 | 30819 |
| ECOLAB INC | COM | 278865100 |  | 627546 | 2291 | SH |  | SOLE |  | 0 | 0 | 2291 |
| ELI LILLY  CO | COM | 532457108 |  | 570759 | 748 | SH |  | SOLE |  | 0 | 0 | 748 |
| ENTEGRIS INC | COM | 29362U104 |  | 219962 | 2379 | SH |  | SOLE |  | 0 | 0 | 2379 |
| ETF OPPORTUNITIES TRUST | AMERICAN CONSER | 26923N108 |  | 327836 | 6649 | SH |  | SOLE |  | 0 | 0 | 6649 |
| ETFIS SER TR I | VIRTUS INFRCAP | 26923G822 |  | 217100 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| FAIR ISAAC CORP | COM | 303250104 |  | 953290 | 637 | SH |  | SOLE |  | 0 | 0 | 637 |
| GENERAL MLS INC | COM | 370334104 |  | 496840 | 9854 | SH |  | SOLE |  | 0 | 0 | 9854 |
| GLOBAL NET LEASE INC | COM NEW | 379378201 |  | 81300 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| GLOBAL X FDS | NASDAQ 100 COVER | 37954Y483 |  | 229886 | 13515 | SH |  | SOLE |  | 0 | 0 | 13515 |
| HOME DEPOT INC | COM | 437076102 |  | 446266 | 1101 | SH |  | SOLE |  | 0 | 0 | 1101 |
| HONEYWELL INTL INC | COM | 438516106 |  | 3573149 | 16975 | SH |  | SOLE |  | 0 | 0 | 16975 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 206823 | 733 | SH |  | SOLE |  | 0 | 0 | 733 |
| INVESCO EXCH TRADED FD TR II | S LOW VOL | 46138E354 |  | 1657565 | 22558 | SH |  | SOLE |  | 0 | 0 | 22558 |
| INVESCO EXCH TRADED FD TR II | FNDMNTL HY CRP | 46138E719 |  | 873825 | 47030 | SH |  | SOLE |  | 0 | 0 | 47030 |
| INVESCO EXCH TRADED FD TR II | EMRNG MKT SVRG | 46138E784 |  | 534730 | 24802 | SH |  | SOLE |  | 0 | 0 | 24802 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 542134 | 903 | SH |  | SOLE |  | 0 | 0 | 903 |
| ISHARES TR | CORE S TTL STK | 464287150 |  | 409416 | 2811 | SH |  | SOLE |  | 0 | 0 | 2811 |
| ISHARES TR | CORE S ETF | 464287200 |  | 926458 | 1384 | SH |  | SOLE |  | 0 | 0 | 1384 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 1795732 | 19232 | SH |  | SOLE |  | 0 | 0 | 19232 |
| ISHARES TR | EXPND TEC SC ETF | 464287549 |  | 256938 | 2040 | SH |  | SOLE |  | 0 | 0 | 2040 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 1615999 | 7938 | SH |  | SOLE |  | 0 | 0 | 7938 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 2445457 | 5221 | SH |  | SOLE |  | 0 | 0 | 5221 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 23876983 | 98682 | SH |  | SOLE |  | 0 | 0 | 98682 |
| ISHARES TR | MSCI ACWI ETF | 464288257 |  | 1635916 | 11834 | SH |  | SOLE |  | 0 | 0 | 11834 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 390518 | 2106 | SH |  | SOLE |  | 0 | 0 | 2106 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 251829 | 1881 | SH |  | SOLE |  | 0 | 0 | 1881 |
| MCDONALDS CORP | COM | 580135101 |  | 837302 | 2755 | SH |  | SOLE |  | 0 | 0 | 2755 |
| MCKESSON CORP | COM | 58155Q103 |  | 766360 | 992 | SH |  | SOLE |  | 0 | 0 | 992 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 1127063 | 11834 | SH |  | SOLE |  | 0 | 0 | 11834 |
| META PLATFORMS INC | CL A | 30303M102 |  | 495365 | 675 | SH |  | SOLE |  | 0 | 0 | 675 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 559686 | 3345 | SH |  | SOLE |  | 0 | 0 | 3345 |
| MICROSOFT CORP | COM | 594918104 |  | 2770858 | 5350 | SH |  | SOLE |  | 0 | 0 | 5350 |
| MP MATERIALS CORP | COM CL A | 553368101 |  | 385049 | 5741 | SH |  | SOLE |  | 0 | 0 | 5741 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 6944947 | 37222 | SH |  | SOLE |  | 0 | 0 | 37222 |
| OMEGA HEALTHCARE INVS INC | COM | 681936100 |  | 422200 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| ORACLE CORP | COM | 68389X105 |  | 439454 | 1563 | SH |  | SOLE |  | 0 | 0 | 1563 |
| PACER FDS TR | PAC ASSET FLTG | 69374H428 |  | 236618 | 4993 | SH |  | SOLE |  | 0 | 0 | 4993 |
| PEARSON PLC | SPONSORED ADR | 705015105 |  | 258335 | 18244 | SH |  | SOLE |  | 0 | 0 | 18244 |
| PEPSICO INC | COM | 713448108 |  | 398427 | 2837 | SH |  | SOLE |  | 0 | 0 | 2837 |
| PFIZER INC | COM | 717081103 |  | 652788 | 25620 | SH |  | SOLE |  | 0 | 0 | 25620 |
| PIMCO ETF TR | INV GRD CRP BD | 72201R817 |  | 1710577 | 17345 | SH |  | SOLE |  | 0 | 0 | 17345 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 221602 | 634 | SH |  | SOLE |  | 0 | 0 | 634 |
| RTX CORPORATION | COM | 75513E101 |  | 250423 | 1497 | SH |  | SOLE |  | 0 | 0 | 1497 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 2498328 | 97173 | SH |  | SOLE |  | 0 | 0 | 97173 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 |  | 1453206 | 45541 | SH |  | SOLE |  | 0 | 0 | 45541 |
| SCHWAB STRATEGIC TR | US MID-CAP ETF | 808524508 |  | 1096515 | 36994 | SH |  | SOLE |  | 0 | 0 | 36994 |
| SCHWAB STRATEGIC TR | US SML CAP ETF | 808524607 |  | 1177270 | 42196 | SH |  | SOLE |  | 0 | 0 | 42196 |
| SCHWAB STRATEGIC TR | EMRG MKTEQ ETF | 808524706 |  | 312062 | 9352 | SH |  | SOLE |  | 0 | 0 | 9352 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 2173480 | 79615 | SH |  | SOLE |  | 0 | 0 | 79615 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 1592897 | 68423 | SH |  | SOLE |  | 0 | 0 | 68423 |
| SCHWAB STRATEGIC TR | US AGGREGATE B | 808524839 |  | 1075052 | 45805 | SH |  | SOLE |  | 0 | 0 | 45805 |
| SCHWAB STRATEGIC TR | SHT TM US TRES | 808524862 |  | 1313087 | 53815 | SH |  | SOLE |  | 0 | 0 | 53815 |
| SFL CORPORATION LTD | SHS | G7738W106 |  | 112950 | 15000 | SH |  | SOLE |  | 0 | 0 | 15000 |
| SOLVENTUM CORP | COM SHS | 83444M101 |  | 507204 | 6948 | SH |  | SOLE |  | 0 | 0 | 6948 |
| SPDR INDEX SHS FDS | ASIA PACIF ETF | 78463X301 |  | 365408 | 2629 | SH |  | SOLE |  | 0 | 0 | 2629 |
| SPDR INDEX SHS FDS | PORTFLI MSCI GBL | 78463X475 |  | 2324446 | 31034 | SH |  | SOLE |  | 0 | 0 | 31034 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 622556 | 935 | SH |  | SOLE |  | 0 | 0 | 935 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 |  | 207603 | 348 | SH |  | SOLE |  | 0 | 0 | 348 |
| SSGA ACTIVE ETF TR | BLACKSTONE SENR | 78467V608 |  | 1514609 | 36426 | SH |  | SOLE |  | 0 | 0 | 36426 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 313084 | 1121 | SH |  | SOLE |  | 0 | 0 | 1121 |
| TARGET CORP | COM | 87612E106 |  | 222979 | 2486 | SH |  | SOLE |  | 0 | 0 | 2486 |
| TERADYNE INC | COM | 880770102 |  | 689852 | 5012 | SH |  | SOLE |  | 0 | 0 | 5012 |
| TESLA INC | COM | 88160R101 |  | 1708614 | 3842 | SH |  | SOLE |  | 0 | 0 | 3842 |
| TORO CO | COM | 891092108 |  | 637870 | 8371 | SH |  | SOLE |  | 0 | 0 | 8371 |
| TRANE TECHNOLOGIES PLC | SHS | G8994E103 |  | 243049 | 576 | SH |  | SOLE |  | 0 | 0 | 576 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 392691 | 1406 | SH |  | SOLE |  | 0 | 0 | 1406 |
| UNITED NAT FOODS INC | COM | 911163103 |  | 201342 | 5352 | SH |  | SOLE |  | 0 | 0 | 5352 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 5955037 | 17246 | SH |  | SOLE |  | 0 | 0 | 17246 |
| US BANCORP DEL | COM NEW | 902973304 |  | 287947 | 5958 | SH |  | SOLE |  | 0 | 0 | 5958 |
| VANECK ETF TRUST | BDC INCOME ETF | 92189F411 |  | 182059 | 12186 | SH |  | SOLE |  | 0 | 0 | 12186 |
| VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 |  | 35388862 | 475849 | SH |  | SOLE |  | 0 | 0 | 475849 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 251245 | 410 | SH |  | SOLE |  | 0 | 0 | 410 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 573486 | 1748 | SH |  | SOLE |  | 0 | 0 | 1748 |
| VANGUARD INTL EQUITY INDEX F | FTSE EUROPE ETF | 922042874 |  | 644458 | 8076 | SH |  | SOLE |  | 0 | 0 | 8076 |
| VANGUARD MUN BD FDS | TAX EXEMPT BD | 922907746 |  | 2913981 | 58198 | SH |  | SOLE |  | 0 | 0 | 58198 |
| VANGUARD SCOTTSDALE FDS | SHORT TERM TREAS | 92206C102 |  | 1118772 | 19011 | SH |  | SOLE |  | 0 | 0 | 19011 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 278273 | 3481 | SH |  | SOLE |  | 0 | 0 | 3481 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 293608 | 4900 | SH |  | SOLE |  | 0 | 0 | 4900 |
| WALMART INC | COM | 931142103 |  | 393776 | 3821 | SH |  | SOLE |  | 0 | 0 | 3821 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 333520 | 3979 | SH |  | SOLE |  | 0 | 0 | 3979 |
| WISDOMTREE TR | EM MKTS QTLY DIV | 97717W323 |  | 505761 | 17635 | SH |  | SOLE |  | 0 | 0 | 17635 |
| XCEL ENERGY INC | COM | 98389B100 |  | 847563 | 10509 | SH |  | SOLE |  | 0 | 0 | 10509 |

---