Great Waters Wealth Management

CIK 0001964535 · Q1 2026

13F Equity AUM

$944.9M

+4.0% QoQ

Positions

121

+4 QoQ

AUM Rank

#2,901

Top 23%

Skill Alpha (FF)

-3.8%/yr^ns

No Clear Edge

Rank #6,863 · Top 84%

vs S&P -11.8%/yr (unadj.)

Quarters Tracked

~3 years

Portfolio Concentration

Top 5: 71.5%Top 10: 87.2%Top 20: 92.9%

DFUS21.1%

DFAX17.6%

DFCF15.5%

DFSD9.0%

DFAS8.3%

DFAT5.6%

BND3.2%

DFGR2.5%

DFIC2.3%

IWM2.0%

Others (111)12.8%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services93.8%

Technology2.2%

Other3.9%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 121Median: 0.06%Avg: 0.83%

0–0.5%

106(8.7%)

0.5–1%

4(2.8%)

1–3%

4(8.1%)

3–5%

1(3.2%)

5%+

6(77.2%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 119Unique: 2vs 20 funds

1.6%Low

121

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

2.2%

BANK OF AMERICA CORP /DE/

2.5%

2.4%

3.5%

2.5%

2.2%

GEODE CAPITAL MANAGEMENT, LLC

VANGUARD CAPITAL MANAGEMENT LLC

VANGUARD PORTFOLIO MANAGEMENT LLC

2.3%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New7Increased32Decreased51Exited3

New Positions

FITB0.0%

+8K

UNFI0.0%

+5K

CHV0.0%

+1K

XOM0.0%

+1K

AMAT0.0%

+655

SPYM0.0%

+3K

NEE0.0%

+2K

Increased

DFCF15.5%

+357K(+11%)

DFSD9.0%

+224K(+14%)

DFUS21.1%

+132K(+5%)

DFGR2.5%

+57K(+7%)

DFAS8.3%

+47K(+4%)

DFAX17.6%

+39K(+1%)

DFAT5.6%

+30K(+4%)

UNH0.5%

+2K(+9%)

VTEB0.3%

+1K(+3%)

TT0.1%

+1K(+221%)

Decreased

DFIC2.3%

-73,741(-11%)

DFAE0.8%

-28,468(-11%)

BND3.2%

-19,964(-5%)

DFAC1.2%

-6,287(-2%)

IWM2.0%

-5,229(-6%)

SCHF0.2%

-4,609(-7%)

NVDA0.6%

-1,077(-3%)

SCHO0.1%

-863(-1%)

SCHM0.1%

-757(-2%)

ECL0.0%

-645(-31%)

Exited

CMA

-4,051

VUG

-423

IBM

-733

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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