Blue Water Asset Management

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CIK 2033384

13F portfolio (2026-Q1)

$289M

Positions

103

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

Open in PORT →

As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

103

Top 5

39.6%

Top 10

62.6%

Effective N

20.2

HHI

0.049

This quarter

4 new · 0 exit →

By sector

Unclassified92.6%

Financials2.4%

Utilities1.3%

Information Technology1.1%

Industrials0.9%

Health Care0.7%

Consumer Discretionary0.5%

Consumer Staples0.3%

Other0.4%

By market cap

Unknown92.6%

Large ($10–200B)3.1%

Mega (>$200B)2.7%

Mid ($2–10B)1.5%

Small ($300M–2B)0.1%

By region

Other92.6%

North America7.4%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	92.56%	75
Insurance	1.70%	3
Utilities	1.26%	5
Machinery	0.76%	2
Software	0.55%	1
Technology Hardware & Equipment	0.50%	1
Banks	0.50%	4
Automobiles & Components	0.36%	1
Pharmaceuticals & Biotechnology	0.36%	1
Health Care Equipment & Supplies	0.31%	1
Oil, Gas & Consumable Fuels	0.26%	1
Beverages	0.21%	2
Capital Markets	0.21%	1
Aerospace & Defense	0.11%	1
Diversified Telecommunication Services	0.10%	1
Specialty Retail	0.09%	1
Semiconductors & Semiconductor Equipment	0.08%	1
Food Products	0.07%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	PULS	PGIM ETF TR	Unclassified	11.71%
2	JCPB	J P MORGAN EXCHANGE TRADED F	Unclassified	7.37%
3	UITB	VICTORY PORTFOLIOS II	Unclassified	7.13%
4	XMHQ	INVESCO EXCHANGE TRADED FD T	Unclassified	6.96%
5	SPYM	SPDR SERIES TRUST	Unclassified	6.40%
6	USVM	VICTORY PORTFOLIOS II	Unclassified	6.25%
7	EVSD	MORGAN STANLEY ETF TRUST	Unclassified	5.79%
8	RWL	Invesco S&P 500 Revenue ETF	Unclassified	5.59%
9	HMOP	HARTFORD FDS EXCHANGE TRADED	Unclassified	3.00%
10	GSIE	Goldman Sachs ActiveBeta Int'l Eq ETF	Unclassified	2.43%

28/103 names classified · sector 7.4% of weight · industry 7.4% · mkt cap 7.4%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 2 quarters

FinancialsJXN, CB, MS, FITB, JPM · other

Information TechnologyMSFT, AAPL, NVDA, PATH

UtilitiesCMS, DTE, DTM, XEL, CWT

IndustrialsETN, LRCX, BA

Health CareJNJ, SYK

Consumer DiscretionaryF, AMZN, MCD

Consumer StaplesKO, TAP, MDLZ

Energy

Communication Services

UnclassifiedPULS, JCPB, UITB, XMHQ, SPYM · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 7.4% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Only 6% of book weight classified — the grid is NOT representative of the whole book.

holdings, colored by sector (27 classified)Blue Water Asset Management centroid (Large Core)

UtilitiesInformation TechnologyFinancialsIndustrialsHealth CareConsumer DiscretionaryConsumer StaplesEnergyCommunication Services

Style box summary for Blue Water Asset Management: centroid Large Core. Heaviest cells: Large Core 1.9%, Large Growth 1.7%, Mid Value 0.9%.

Classified: 6.1% of book weight (27/103 names) · unclassified 93.9%: PULS, JCPB, UITB, XMHQ, SPYM, USVM, EVSD, RWL, HMOP, GSIE +66 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 103 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	PULSPGIM ETF TR	684,685	$34M	11.7%	TRIM −17%
2	JCPBJ P MORGAN EXCHANGE TRADED F	453,035	$21M	7.4%	ADD 6%
3	UITBVICTORY PORTFOLIOS II	438,763	$21M	7.1%	ADD 6%
4	XMHQINVESCO EXCHANGE TRADED FD T	194,843	$20M	7.0%	ADD 5%
5	SPYMSPDR SERIES TRUST	241,897	$19M	6.4%	HOLD
6	USVMVICTORY PORTFOLIOS II	191,096	$18M	6.3%	HOLD
7	EVSDMORGAN STANLEY ETF TRUST	329,166	$17M	5.8%	ADD 1402%
8	RWLInvesco S&P 500 Revenue ETF	140,791	$16M	5.6%	HOLD
9	HMOPHARTFORD FDS EXCHANGE TRADED	223,764	$9M	3.0%	HOLD
10	GSIEGoldman Sachs ActiveBeta Int'l Eq ETF	162,905	$7M	2.4%	TRIM −6%
11	VRPINVESCO EXCH TRADED FD TR II	291,785	$7M	2.4%	ADD 5%
12	JEPIJPMorgan Equity Premium Income ETF	117,113	$7M	2.3%	TRIM −41%
13	JPSTJ P MORGAN EXCHANGE TRADED F	122,289	$6M	2.1%	TRIM −14%
14	UTESETFIS SER TR I	75,038	$6M	2.1%	ADD 5%
15	PJANINNOVATOR ETFS TRUST	126,115	$6M	2.0%	TRIM −3%
16	BRK.ABERKSHIRE HATHAWAY INC DEL	8	$6M	2.0%	HOLD
17	PAPIMORGAN STANLEY ETF TRUST	194,162	$5M	1.8%	NEW
18	PBJAPGIM ROCK ETF TR	159,830	$5M	1.7%	TRIM −3%
19	JXNJACKSON FINANCIAL INC	37,173	$4M	1.4%	HOLD
20	PBNVPGIM ROCK ETF TR	128,780	$4M	1.3%	HOLD
21	PFEBINNOVATOR ETFS TRUST	62,171	$2M	0.9%	ADD 631%
22	PAPRINNOVATOR ETFS TRUST	53,803	$2M	0.7%	ADD 151%
23	PBDEPGIM ROCK ETF TR	70,321	$2M	0.7%	HOLD
24	JANWAIM ETF PRODUCTS TRUST	44,490	$2M	0.6%	ADD 2%
25	MSFTMICROSOFT CORP	4,325	$2M	0.6%	TRIM −6%
26	PMARINNOVATOR ETFS TRUST	35,052	$2M	0.5%	ADD 220%
27	CMSCMS ENERGY CORP	20,073	$2M	0.5%	HOLD
28	ETNEATON CORP PLC	4,091	$1M	0.5%	ADD 2%
29	AAPLAPPLE INC	5,704	$1M	0.5%	HOLD
30	VYMVANGUARD WHITEHALL FDS	7,982	$1M	0.4%	TRIM −23%
31	PBAPPGIM ROCK ETF TR	39,619	$1M	0.4%	ADD 37%
32	PJUNINNOVATOR ETFS TRUST	26,441	$1M	0.4%	HOLD
33	DTEDTE ENERGY CO	7,325	$1M	0.4%	HOLD
34	SPSBSPDR SERIES TRUST	34,866	$1M	0.4%	HOLD
35	FFORD MTR CO	90,711	$1M	0.4%	TRIM −4%
36	JNJJOHNSON & JOHNSON	4,242	$1M	0.4%	HOLD
37	CPSACALAMOS ETF TR	38,021	$1M	0.4%	HOLD
38	SYKSTRYKER CORPORATION	2,695	$885,701	0.3%	HOLD
39	CPSOCALAMOS ETF TR	30,803	$831,817	0.3%	HOLD
40	QQQMINVESCO EXCH TRADED FD TR II	3,491	$829,629	0.3%	HOLD
41	PBFBPGIM ROCK ETF TR	26,957	$809,799	0.3%	ADD 135%
42	FDVVFIDELITY COVINGTON TRUST	14,368	$793,677	0.3%	HOLD
43	CPSJCALAMOS ETF TR	29,178	$784,112	0.3%	HOLD
44	CVXCHEVRON CORP NEW	3,672	$759,773	0.3%	TRIM −8%
45	PBJNPGIM ROCK ETF TR	25,355	$757,255	0.3%	HOLD
46	LRCXLAM RESEARCH CORP	3,459	$738,975	0.3%	HOLD
47	OCTPPGIM ROCK ETF TR	24,890	$737,404	0.3%	TRIM −27%
48	SLVISHARES SILVER TR	9,656	$657,960	0.2%	ADD 38%
49	CPSDCALAMOS ETF TR	24,974	$647,211	0.2%	HOLD
50	CBCHUBB LIMITED	1,978	$644,808	0.2%	HOLD
51	MSMORGAN STANLEY	3,642	$599,430	0.2%	HOLD
52	XBJAINNOVATOR ETFS TRUST	18,246	$570,735	0.2%	HOLD
53	PBMRPGIM ROCK ETF TR	15,826	$479,835	0.2%	TRIM −11%
54	POCTINNOVATOR S&P 500 POWER BUFFER ETF	11,073	$477,357	0.2%	TRIM −57%
55	EVLNMORGAN STANLEY ETF TRUST	9,698	$467,236	0.2%	ADD 92%
56	PDECINNOVATOR ETFS TRUST	10,950	$465,375	0.2%	TRIM −3%
57	JMUBJPMORGAN MUNICIPAL ETF	9,301	$464,945	0.2%	HOLD
58	CPSMCALAMOS ETF TR	15,962	$460,591	0.2%	HOLD
59	JPMJPMORGAN CHASE & CO	1,566	$460,566	0.2%	ADD 34%
60	DECWAIM ETF PRODUCTS TRUST	13,664	$456,510	0.2%	HOLD
61	FITBFIFTH THIRD BANCORP	9,765	$453,674	0.2%	ADD 10%
62	DTMDT MIDSTREAM INC	3,353	$451,490	0.2%	HOLD
63	CPSTCALAMOS ETF TR	16,552	$446,492	0.2%	HOLD
64	PSEPINNOVATOR ETFS TRUST	10,223	$440,202	0.2%	TRIM −49%
65	CPSRCALAMOS S&P 500 STRUCTURED ALT PROTECTION ETF - MARCH	16,665	$421,121	0.1%	ADD 25%
66	KBESPDR SERIES TRUST	7,015	$417,769	0.1%	HOLD
67	VCITVANGUARD SCOTTSDALE FDS	4,598	$380,491	0.1%	HOLD
68	GSLCGOLDMAN SACHS ETF TR	2,969	$371,486	0.1%	HOLD
69	VCLTVANGUARD SCOTTSDALE FDS	4,915	$367,216	0.1%	HOLD
70	VOVANGUARD INDEX FDS	1,277	$366,825	0.1%	HOLD
71	XBAPINNOVATOR ETFS TRUST	9,247	$361,962	0.1%	HOLD
72	AONAON PLC	1,073	$346,491	0.1%	HOLD
73	GLDMWORLD GOLD TR	3,736	$346,290	0.1%	HOLD
74	XELXCEL ENERGY INC	4,346	$345,243	0.1%	ADD 3%
75	BABOEING CO	1,648	$327,954	0.1%	HOLD
76	PJULINNOVATOR ETFS TRUST	7,120	$327,289	0.1%	TRIM −85%
77	GSSCGOLDMAN SACHS ETF TR	4,387	$327,015	0.1%	HOLD
78	IXUSISHARES TR	3,675	$318,430	0.1%	HOLD
79	VTIVANGUARD INDEX FDS	985	$315,944	0.1%	ADD 5%
80	TAPMOLSON COORS BEVERAGE CO	7,253	$312,298	0.1%	ADD 18%
81	PBAUPGIM S&P 500 BUFFER 20 ETF - AUGUST	10,483	$310,757	0.1%	HOLD
82	CLOXSERIES PORTFOLIOS TR	12,108	$309,601	0.1%	HOLD
83	SFLOVICTORY PORTFOLIOS II	10,191	$306,031	0.1%	HOLD
84	KOCOCA COLA CO	3,982	$302,815	0.1%	TRIM −12%
85	APRWAIM ETF PRODUCTS TRUST	8,468	$299,558	0.1%	HOLD
86	MBWMMERCANTILE BK CORP	5,826	$294,224	0.1%	ADD 4%
87	PINKSIMPLIFY EXCHANGE TRADED FUN	8,728	$293,799	0.1%	HOLD
88	VZVERIZON COMMUNICATIONS INC	5,782	$290,246	0.1%	ADD 6%
89	OUSAALPS ETF TR	5,183	$288,560	0.1%	HOLD
90	AMZNAMAZON COM INC	1,316	$274,083	0.1%	NEW
91	PBJLPGIM ROCK ETF TR	9,098	$270,358	0.1%	TRIM −19%
92	XLFSELECT SECTOR SPDR TR	5,469	$270,000	0.1%	HOLD
93	XEXGXEATON VANCE TAX-MANAGED GLOB	30,938	$267,922	0.1%	ADD 55%
94	SPYSTATE STR SPDR S&P 500 ETF T	410	$266,390	0.1%	ADD 4%
95	GSEWGOLDMAN SACHS ETF TR	3,108	$263,118	0.1%	HOLD
96	SMHVANECK ETF TRUST	629	$241,074	0.1%	NEW
97	PBMYPGIM ROCK ETF TR	7,569	$229,047	0.1%	TRIM −19%
98	JDOCJ P MORGAN EXCHANGE TRADED F	4,096	$227,597	0.1%	HOLD
99	WTFCWINTRUST FINL CORP	1,631	$226,582	0.1%	HOLD
100	NVDANVIDIA CORPORATION	1,286	$224,326	0.1%	ADD 4%
101	CWTCALIFORNIA WTR SVC GROUP	4,871	$220,843	0.1%	HOLD
102	IHIISHARES TR	4,019	$214,396	0.1%	HOLD
103	MDLZMONDELEZ INTL INC	3,615	$208,381	0.1%	NEW

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

PULSPGIM ETF TR

—

825K

685K

$34M

JCPBJ P MORGAN EXCHANGE TRADED F

—

427K

453K

$21M

UITBVICTORY PORTFOLIOS II

—

414K

439K

$21M

XMHQINVESCO EXCHANGE TRADED FD T

—

185K

195K

$20M

SPYMSPDR SERIES TRUST

—

238K

242K

$19M

USVMVICTORY PORTFOLIOS II

—

194K

191K

$18M

EVSDMORGAN STANLEY ETF TRUST

—

22K

329K

$17M

RWLInvesco S&P 500 Revenue ETF

—

143K

141K

$16M

HMOPHARTFORD FDS EXCHANGE TRADED

—

222K

224K

$9M

GSIEGoldman Sachs ActiveBeta Int'l Eq ETF

—

173K

163K

$7M

VRPINVESCO EXCH TRADED FD TR II

—

279K

292K

$7M

JEPIJPMorgan Equity Premium Income ETF

—

197K

117K

$7M

JPSTJ P MORGAN EXCHANGE TRADED F

—

142K

122K

$6M

UTESETFIS SER TR I

—

71K

75K

$6M

PJANINNOVATOR ETFS TRUST

—

130K

126K

$6M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

☆Blue Water Asset Management