# EDGAR Filing Document

**Accession Number:** 0001964535
**File Stem:** 0001964535-23-000001
**Filing Date:** 2023-2
**Character Count:** 12361
**Document Hash:** e8fa26f3de30ec11f3f0a507e304e101
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001964535-23-000001.hdr.sgml**: 20230203

**ACCESSION NUMBER**: 0001964535-23-000001

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230203

**DATE AS OF CHANGE**: 20230203

**EFFECTIVENESS DATE**: 20230203

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Great Waters Wealth Management
- **CENTRAL INDEX KEY:** 0001964535
- **IRS NUMBER:** 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:** 23585353

**BUSINESS ADDRESS:**
- **STREET 1:** 510 N. 1ST AVENUE
- **STREET 2:** SUITE 410
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55403
- **BUSINESS PHONE:** 612-360-2127

**MAIL ADDRESS:**
- **STREET 1:** 510 N. 1ST AVENUE
- **STREET 2:** SUITE 410
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55403

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**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:** 510 N. 1ST AVENUE<br>SUITE 410<br>MINNEAPOLIS, MN 55403

**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  Minneapolis, MN  02-03-2023<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:** 86

**Form 13F Information Table Value Total:** $464574532

      (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 |  | 3875305 | 34316 | SH |  | SOLE |  | 0 | 0 | 34316 |
| ABBOTT LABS | COM | 002824100 |  | 395894 | 3567 | SH |  | SOLE |  | 0 | 0 | 3567 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 272901 | 2866 | SH |  | SOLE |  | 0 | 0 | 2866 |
| AMAZON COM INC | COM | 023135106 |  | 753250 | 7751 | SH |  | SOLE |  | 0 | 0 | 7751 |
| AMERIPRISE FINL INC | COM | 03076C106 |  | 218497 | 637 | SH |  | SOLE |  | 0 | 0 | 637 |
| AMGEN INC | COM | 031162100 |  | 205745 | 802 | SH |  | SOLE |  | 0 | 0 | 802 |
| API GROUP CORP | COM STK | 00187Y100 |  | 405745 | 19312 | SH |  | SOLE |  | 0 | 0 | 19312 |
| APPLE INC | COM | 037833100 |  | 5133343 | 36186 | SH |  | SOLE |  | 0 | 0 | 36186 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 473464 | 1518 | SH |  | SOLE |  | 0 | 0 | 1518 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 497819 | 10794 | SH |  | SOLE |  | 0 | 0 | 10794 |
| CANADIAN NATL RY CO | COM | 136375102 |  | 460193 | 3894 | SH |  | SOLE |  | 0 | 0 | 3894 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 592294 | 7817 | SH |  | SOLE |  | 0 | 0 | 7817 |
| COMERICA INC | COM | 200340107 |  | 289728 | 4051 | SH |  | SOLE |  | 0 | 0 | 4051 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 740959 | 1509 | SH |  | SOLE |  | 0 | 0 | 1509 |
| DANAHER CORPORATION | COM | 235851102 |  | 707598 | 2691 | SH |  | SOLE |  | 0 | 0 | 2691 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 270344 | 6865 | SH |  | SOLE |  | 0 | 0 | 6865 |
| DIMENSIONAL ETF TRUST | EMGR CRE EQT MNG | 25434V302 |  | 21700828 | 897841 | SH |  | SOLE |  | 0 | 0 | 897841 |
| DIMENSIONAL ETF TRUST | US EQUITY ETF | 25434V401 |  | 42903880 | 984938 | SH |  | SOLE |  | 0 | 0 | 984938 |
| DIMENSIONAL ETF TRUST | US TARGETED VLU | 25434V609 |  | 11667847 | 247830 | SH |  | SOLE |  | 0 | 0 | 247830 |
| DIMENSIONAL ETF TRUST | SHORT DURATION F | 25434V864 |  | 15197232 | 326261 | SH |  | SOLE |  | 0 | 0 | 326261 |
| DIMENSIONAL ETF TRUST | US CORE EQUITY 2 | 25434V708 |  | 11345323 | 444044 | SH |  | SOLE |  | 0 | 0 | 444044 |
| DIMENSIONAL ETF TRUST | US SMALL CAP ETF | 25434V500 |  | 13896994 | 254012 | SH |  | SOLE |  | 0 | 0 | 254012 |
| DIMENSIONAL ETF TRUST | INTL CORE EQUITY | 25434V799 |  | 60702335 | 2492909 | SH |  | SOLE |  | 0 | 0 | 2492909 |
| DIMENSIONAL ETF TRUST | WORLD EX US CORE | 25434V880 |  | 38599825 | 1641847 | SH |  | SOLE |  | 0 | 0 | 1641847 |
| DIMENSIONAL ETF TRUST | CORE FIXED INCOM | 25434V872 |  | 23870140 | 555636 | SH |  | SOLE |  | 0 | 0 | 555636 |
| DONALDSON INC | COM | 257651109 |  | 2116202 | 34732 | SH |  | SOLE |  | 0 | 0 | 34732 |
| ECOLAB INC | COM | 278865100 |  | 541945 | 3556 | SH |  | SOLE |  | 0 | 0 | 3556 |
| FAIR ISAAC CORP | COM | 303250104 |  | 478908 | 745 | SH |  | SOLE |  | 0 | 0 | 745 |
| GENERAL MLS INC | COM | 370334104 |  | 819468 | 10524 | SH |  | SOLE |  | 0 | 0 | 10524 |
| HAWKINS INC | COM | 420261109 |  | 601899 | 15319 | SH |  | SOLE |  | 0 | 0 | 15319 |
| HOME DEPOT INC | COM | 437076102 |  | 300128 | 946 | SH |  | SOLE |  | 0 | 0 | 946 |
| HONEYWELL INTL INC | COM | 438516106 |  | 3803211 | 18402 | SH |  | SOLE |  | 0 | 0 | 18402 |
| HORMEL FOODS CORP | COM | 440452100 |  | 275364 | 6152 | SH |  | SOLE |  | 0 | 0 | 6152 |
| INVENTRUST PPTYS CORP | COM NEW | 46124J201 |  | 862827 | 35060 | SH |  | SOLE |  | 0 | 0 | 35060 |
| INVESCO EXCH TRADED FD TR II | EMRNG MKT SVRG | 46138E784 |  | 848589 | 42600 | SH |  | SOLE |  | 0 | 0 | 42600 |
| INVESCO EXCH TRADED FD TR II | FNDMNTL HY CRP | 46138E719 |  | 1270527 | 72436 | SH |  | SOLE |  | 0 | 0 | 72436 |
| INVESCO EXCH TRADED FD TR II | S LOW VOL | 46138E354 |  | 2067969 | 32654 | SH |  | SOLE |  | 0 | 0 | 32654 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 277171 | 5367 | SH |  | SOLE |  | 0 | 0 | 5367 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 2356722 | 14942 | SH |  | SOLE |  | 0 | 0 | 14942 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 2487429 | 10947 | SH |  | SOLE |  | 0 | 0 | 10947 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 46748011 | 249389 | SH |  | SOLE |  | 0 | 0 | 249389 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 2695665 | 37607 | SH |  | SOLE |  | 0 | 0 | 37607 |
| ISHARES TR | MSCI ACWI ETF | 464288257 |  | 1642526 | 18139 | SH |  | SOLE |  | 0 | 0 | 18139 |
| ISHARES TR | CORE S ETF | 464287200 |  | 524093 | 1303 | SH |  | SOLE |  | 0 | 0 | 1303 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 267163 | 1576 | SH |  | SOLE |  | 0 | 0 | 1576 |
| LILLY ELI  CO | COM | 532457108 |  | 294284 | 841 | SH |  | SOLE |  | 0 | 0 | 841 |
| MCKESSON CORP | COM | 58155Q103 |  | 373794 | 994 | SH |  | SOLE |  | 0 | 0 | 994 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 710987 | 8756 | SH |  | SOLE |  | 0 | 0 | 8756 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 221667 | 3602 | SH |  | SOLE |  | 0 | 0 | 3602 |
| MICROSOFT CORP | COM | 594918104 |  | 1149807 | 4779 | SH |  | SOLE |  | 0 | 0 | 4779 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 735412 | 3806 | SH |  | SOLE |  | 0 | 0 | 3806 |
| PEARSON PLC | SPONSORED ADR | 705015105 |  | 166384 | 14506 | SH |  | SOLE |  | 0 | 0 | 14506 |
| PFIZER INC | COM | 717081103 |  | 1160970 | 25759 | SH |  | SOLE |  | 0 | 0 | 25759 |
| PIMCO ETF TR | INV GRD CRP BD | 72201R817 |  | 2661594 | 27473 | SH |  | SOLE |  | 0 | 0 | 27473 |
| POLYMET MNG CORP | COM NEW | 731916409 |  | 62375 | 22848 | SH |  | SOLE |  | 0 | 0 | 22848 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 300604 | 1081 | SH |  | SOLE |  | 0 | 0 | 1081 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 1959154 | 41604 | SH |  | SOLE |  | 0 | 0 | 41604 |
| SCHWAB STRATEGIC TR | US AGGREGATE B | 808524839 |  | 1142573 | 24181 | SH |  | SOLE |  | 0 | 0 | 24181 |
| SCHWAB STRATEGIC TR | US SML CAP ETF | 808524607 |  | 1557525 | 35641 | SH |  | SOLE |  | 0 | 0 | 35641 |
| SCHWAB STRATEGIC TR | EMRG MKTEQ ETF | 808524706 |  | 295085 | 11284 | SH |  | SOLE |  | 0 | 0 | 11284 |
| SCHWAB STRATEGIC TR | SHT TM US TRES | 808524862 |  | 2117331 | 43566 | SH |  | SOLE |  | 0 | 0 | 43566 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 3143248 | 41094 | SH |  | SOLE |  | 0 | 0 | 41094 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 |  | 1447374 | 24305 | SH |  | SOLE |  | 0 | 0 | 24305 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 1237341 | 35202 | SH |  | SOLE |  | 0 | 0 | 35202 |
| SCHWAB STRATEGIC TR | US MID-CAP ETF | 808524508 |  | 1437412 | 20444 | SH |  | SOLE |  | 0 | 0 | 20444 |
| SPDR INDEX SHS FDS | ASIA PACIF ETF | 78463X301 |  | 543298 | 5109 | SH |  | SOLE |  | 0 | 0 | 5109 |
| SPDR INDEX SHS FDS | DJ GLB RL ES ETF | 78463X749 |  | 5085335 | 115839 | SH |  | SOLE |  | 0 | 0 | 115839 |
| SPDR INDEX SHS FDS | PORTFLI MSCI GBL | 78463X475 |  | 2647688 | 53188 | SH |  | SOLE |  | 0 | 0 | 53188 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 451135 | 1127 | SH |  | SOLE |  | 0 | 0 | 1127 |
| SSGA ACTIVE ETF TR | BLACKSTONE SENR | 78467V608 |  | 2455367 | 58364 | SH |  | SOLE |  | 0 | 0 | 58364 |
| TARGET CORP | COM | 87612E106 |  | 222871 | 1357 | SH |  | SOLE |  | 0 | 0 | 1357 |
| TERADYNE INC | COM | 880770102 |  | 719218 | 6953 | SH |  | SOLE |  | 0 | 0 | 6953 |
| TESLA INC | COM | 88160R101 |  | 417702 | 2892 | SH |  | SOLE |  | 0 | 0 | 2892 |
| THOMSON REUTERS CORP. | COM NEW | 884903709 |  | 220262 | 1869 | SH |  | SOLE |  | 0 | 0 | 1869 |
| TORO CO | COM | 891092108 |  | 1049816 | 9573 | SH |  | SOLE |  | 0 | 0 | 9573 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 258790 | 1357 | SH |  | SOLE |  | 0 | 0 | 1357 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 9424903 | 19137 | SH |  | SOLE |  | 0 | 0 | 19137 |
| US BANCORP DEL | COM NEW | 902973304 |  | 567940 | 11555 | SH |  | SOLE |  | 0 | 0 | 11555 |
| VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 |  | 80336513 | 1081100 | SH |  | SOLE |  | 0 | 0 | 1081100 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 598911 | 2979 | SH |  | SOLE |  | 0 | 0 | 2979 |
| VANGUARD INTL EQUITY INDEX F | FTSE EUROPE ETF | 922042874 |  | 1328700 | 21850 | SH |  | SOLE |  | 0 | 0 | 21850 |
| VANGUARD MUN BD FDS | TAX EXEMPT BD | 922907746 |  | 5079071 | 99883 | SH |  | SOLE |  | 0 | 0 | 99883 |
| VANGUARD SCOTTSDALE FDS | SHORT TERM TREAS | 92206C102 |  | 1978711 | 33969 | SH |  | SOLE |  | 0 | 0 | 33969 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 490836 | 6430 | SH |  | SOLE |  | 0 | 0 | 6430 |
| WISDOMTREE TR | EM MKTS QTLY DIV | 97717W323 |  | 665732 | 28197 | SH |  | SOLE |  | 0 | 0 | 28197 |
| XCEL ENERGY INC | COM | 98389B100 |  | 1693512 | 24701 | SH |  | SOLE |  | 0 | 0 | 24701 |

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