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Blue Water Asset Management — 13F Holdings & Portfolio

CIK 2033384 · latest 13F-HR filed 2026-08-03

Backtest portfolio

Blue Water Asset Management manages $309.8M in 13F-reported U.S. long-equity assets across 108 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are PULS (10.60%), XMHQ (7.23%), JCPB (7.05%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 7 new positions and exited 2; 59 existing positions rose in reported value and 12 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM
$309.8M

Long-equity book

Holdings
108

Distinct positions

Period
2026-06-30

Filed 2026-08-03

Q/Q Activity
+7 / −2 / ↑59 / ↓12

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
PULS10.6% · -3%XMHQ7.2% · +2%JCPB7.1% · +3%SPYM7.0% · +2%USVM6.9% · +1%UITB6.8% · +3%RWL5.9% · +1%EVSD5.7% · +6%HMOP2.6% · -8%GSIE2.4% · +1%VRP2.3% · +2%UTES2.1% · +4%PJAN2.0% · -0%JEPI2.0% · -8%BRK.A1.9% · 0%PAPI1.8% · +10%JPST1.8% · -8%PBJA1.7% · 0%JXN1.2% · -0%PBNV1.1% · -11%PFEB0.8% · -6%PAPR0.7% · -0%PBDE0.7% · -2%ETN0.6% · +0%JANW0.6% · 0%PMAR0.5% · +1%AAPL0.5% · +2%MSFT0.5% · +1%CMS0.5% · +4%PBAP0.5% · +23%LRCX0.5% · +0%QQQM0.4% · +29%F0.4% · +1%VYM0.4% · -2%PBJL0.4% · +331%SPSB0.4% · +16%PJUN0.4% · +2%DTE0.4% · +1%JNJ0.3% · 0%CPSA0.3% · -0%PBJN0.3% · +32%FDVV0.3% · -1%SYK0.3% · -2%PBFB0.3% · -4%CPSJ0.3% · 0%OCTP0.3% · -2%MS0.2% · +1%PBMY0.2% · +218%PINK0.2% · +116%CB0.2% · +0%CPSD0.2% · 0%XBJA0.2% · 0%CPSO0.2% · -34%FITB0.2% · +1%CVX0.2% · -14%JPM0.2% · +2%JMUB0.2% · +9%PJUL0.2% · +46%PDEC0.2% · 0%SLV0.2% · -4%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

3 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 62.2%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Mar 31, 2026.

Assets Under Management
$927.9M
Discretionary
$927.9M
Employees
20
Accounts
5
Address
1 NORTH FEDERAL HIGHWAY
SUITE 300
BOCA RATON, FL 33432-3930
Phone
(561) 282-0770
Website
Name Title / Status Ownership Type
AYALA, DIEGO, SEBASTIAN ControlCHIEF FINANCIAL OFFICER & PARTNER
since May 2017
25–50%Individual
GRISWOLD, BENJAMIN, HUFTY ControlMANAGING PARTNER
since May 2017
50–75%Individual
BWW GROUP LLCGENERAL PARTNER OF BLUE WATER ADVISORS LP
since Apr 2019
Less than 5%Domestic Entity
LORIA, KEVIN, SCOTTCHIEF COMPLIANCE OFFICER
since Oct 2024
Less than 5%Individual
GRISWOLD, BENJAMIN, HUFTY Control
Indirect owner via BWW GROUP LLC
MEMBER OF BWW GROUP LLC
since Oct 2016
75% or moreIndividual
Ownership & leadership changes · 7 filings with changes since Jul 3, 2017

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Mar 31, 2026 filing
  • No longer listedWHITRIDGE, WILLIAM, CUSHING · MANAGING PARTNER · 25–50% · control person · listed since May 2017
  • No longer listedWHITRIDGE, WILLIAM, CUSHING · MEMBER OF BWW GROUP LLC · 50–75% · indirect via BWW GROUP LLC · control person · listed since Oct 2016
  • ChangedAYALA, DIEGO, SEBASTIAN · ownership 10–25% → 25–50%
  • ChangedGRISWOLD, BENJAMIN, HUFTY · ownership 25–50% → 50–75%
  • ChangedGRISWOLD, BENJAMIN, HUFTY · indirect via BWW GROUP LLC: ownership 50–75% → 75% or more
Oct 25, 2024 filing
  • No longer listedROSEN, KEVIN, DALE · GENERAL COUNSEL & CHIEF COMPLIANCE OFFICER · Less than 5% · listed since May 2021
  • Listed againLORIA, KEVIN, SCOTT · CHIEF COMPLIANCE OFFICER · Less than 5%
Jun 17, 2021 filing
  • No longer listedLORIA, KEVIN, SCOTT · CHIEF COMPLIANCE OFFICER · Less than 5% · listed since May 2017
  • ChangedBWW GROUP LLC · title PART OWNER OF BLUE WATER ADVISORS LP → GENERAL PARTNER OF BLUE WATER ADVISORS LP; ownership 10–25% → Less than 5%
  • ChangedROSEN, KEVIN, DALE · title GENERAL COUNSEL → GENERAL COUNSEL & CHIEF COMPLIANCE OFFICER
Mar 31, 2021 filing
  • AddedROSEN, KEVIN, DALE · GENERAL COUNSEL · Less than 5%
Apr 30, 2020 filing
  • No longer listedBLUE WATER GP LLC · GENERAL PARTNER OF BLUE WATER ADVISORS LP · Less than 5% · control person · listed since May 2017
  • No longer listedBWW GROUP LLC · MANAGING MEMBER OF BLUE WATER GP, LLC · 75% or more · indirect via BLUE WATER GP LLC · control person · listed since Oct 2016
Mar 30, 2020 filing
  • No longer listedMORRIS, RYAN, EDWARD · MANAGING DIRECTOR & PARTNER · 10–25% · control person · listed since May 2017
  • AddedBWW GROUP LLC · PART OWNER OF BLUE WATER ADVISORS LP · 10–25%
Mar 30, 2018 filing
  • ChangedAYALA, DIEGO, SEBASTIAN · ownership 5–10% → 10–25%
  • ChangedBWW GROUP LLC · indirect via BLUE WATER GP LLC: ownership 25–50% → 75% or more
  • ChangedGRISWOLD, BENJAMIN, HUFTY · indirect via BWW GROUP LLC: ownership 25–50% → 50–75%
  • ChangedMORRIS, RYAN, EDWARD · ownership 5–10% → 10–25%
  • ChangedWHITRIDGE, WILLIAM, CUSHING · indirect via BWW GROUP LLC: ownership 25–50% → 50–75%
Jul 3, 2017 filing (earliest on record)
  • ListedAYALA, DIEGO, SEBASTIAN · CHIEF FINANCIAL OFFICER & PARTNER · 5–10% · control person
  • ListedBLUE WATER GP LLC · GENERAL PARTNER OF BLUE WATER ADVISORS LP · Less than 5% · control person
  • ListedBWW GROUP LLC · MANAGING MEMBER OF BLUE WATER GP, LLC · 25–50% · indirect via BLUE WATER GP LLC · control person
  • ListedGRISWOLD, BENJAMIN, HUFTY · MANAGING PARTNER · 25–50% · control person
  • ListedGRISWOLD, BENJAMIN, HUFTY · MEMBER OF BWW GROUP LLC · 25–50% · indirect via BWW GROUP LLC · control person
  • ListedLORIA, KEVIN, SCOTT · CHIEF COMPLIANCE OFFICER · Less than 5%
  • ListedMORRIS, RYAN, EDWARD · MANAGING DIRECTOR & PARTNER · 5–10% · control person
  • ListedWHITRIDGE, WILLIAM, CUSHING · MANAGING PARTNER · 25–50% · control person
  • ListedWHITRIDGE, WILLIAM, CUSHING · MEMBER OF BWW GROUP LLC · 25–50% · indirect via BWW GROUP LLC · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Blue Water Asset Management Holdings (2026-06-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 PGIM ETF TR PULS 69344A107 $32.8M 10.60% 662,688 SH
2 INVESCO EXCHANGE TRADED FD T XMHQ 46137V472 $22.4M 7.23% 198,483 SH
3 J P MORGAN EXCHANGE TRADED F JCPB 46641Q670 $21.8M 7.05% 465,341 SH
4 SPDR SERIES TRUST SPYM 78464A854 $21.6M 6.98% 246,155 SH
5 VICTORY PORTFOLIOS II USVM 92647N568 $21.2M 6.86% 193,408 SH
6 VICTORY PORTFOLIOS II UITB 92647N527 $21.1M 6.81% 450,385 SH
7 INVESCO EXCH TRADED FD TR II RWL 46138G698 $18.2M 5.88% 142,509 SH
8 MORGAN STANLEY ETF TRUST EVSD 61774R825 $17.7M 5.72% 348,359 SH
9 HARTFORD FDS EXCHANGE TRADED HMOP 41653L503 $8.1M 2.61% 206,678 SH
10 GOLDMAN SACHS ETF TR GSIE 381430107 $7.5M 2.43% 165,031 SH
11 INVESCO EXCH TRADED FD TR II VRP 46138G870 $7.3M 2.35% 298,914 SH
12 ETFIS SER TR I UTES 26923G806 $6.4M 2.07% 78,357 SH
13 INNOVATOR ETFS TRUST PJAN 45782C508 $6.2M 2.01% 126,053 SH
14 J P MORGAN EXCHANGE TRADED F JEPI 46641Q332 $6.1M 1.96% 107,520 SH
15 BERKSHIRE HATHAWAY INC DEL BRK.A 084670108 $6.0M 1.93% 8 SH
16 MORGAN STANLEY ETF TRUST PAPI 61774R866 $5.7M 1.84% 213,607 SH
17 J P MORGAN EXCHANGE TRADED F JPST 46641Q837 $5.7M 1.83% 111,837 SH
18 PGIM ROCK ETF TR PBJA 69420N205 $5.2M 1.67% 159,830 SH
19 JACKSON FINANCIAL INC JXN 46817M107 $3.8M 1.23% 37,169 SH
20 PGIM ROCK ETF TR PBNV 69420N767 $3.5M 1.14% 114,178 SH
21 INNOVATOR ETFS TRUST PFEB 45782C417 $2.5M 0.82% 58,772 SH
22 INNOVATOR ETFS TRUST PAPR 45782C870 $2.3M 0.73% 53,683 SH
23 PGIM ROCK ETF TR PBDE 69420N759 $2.1M 0.69% 69,013 SH
24 EATON CORP PLC ETN G29183103 $1.7M 0.56% 4,095 SH
25 AIM ETF PRODUCTS TRUST JANW 00888H802 $1.7M 0.56% 44,490 SH
26 INNOVATOR ETFS TRUST PMAR 45782C383 $1.7M 0.54% 35,319 SH
27 APPLE INC AAPL 037833100 $1.7M 0.54% 5,827 SH
28 MICROSOFT CORP MSFT 594918104 $1.6M 0.53% 4,378 SH
29 CMS ENERGY CORP CMS 125896100 $1.6M 0.51% 20,777 SH
30 PGIM ROCK ETF TR PBAP 69420N809 $1.5M 0.49% 48,873 SH
31 LAM RESEARCH CORP LRCX 512807306 $1.5M 0.49% 3,471 SH
32 INVESCO EXCH TRADED FD TR II QQQM 46138G649 $1.4M 0.44% 4,509 SH
33 FORD MTR CO F 345370860 $1.3M 0.41% 91,522 SH
34 VANGUARD WHITEHALL FDS VYM 921946406 $1.2M 0.40% 7,808 SH
35 PGIM ROCK ETF TR PBJL 69420N833 $1.2M 0.40% 39,232 SH
36 SPDR SERIES TRUST SPSB 78464A474 $1.2M 0.39% 40,337 SH
37 INNOVATOR ETFS TRUST PJUN 45782C748 $1.2M 0.38% 27,097 SH
38 DTE ENERGY CO DTE 233331107 $1.1M 0.36% 7,420 SH
39 JOHNSON & JOHNSON JNJ 478160104 $1.1M 0.35% 4,243 SH
40 CALAMOS ETF TR CPSA 12811T704 $1.1M 0.34% 37,962 SH
41 PGIM ROCK ETF TR PBJN 69420N858 $1.0M 0.33% 33,441 SH
42 FIDELITY COVINGTON TRUST FDVV 316092840 $857.9K 0.28% 14,230 SH
43 STRYKER CORPORATION SYK 863667101 $834.1K 0.27% 2,649 SH
44 PGIM ROCK ETF TR PBFB 69420N403 $828.7K 0.27% 25,963 SH
45 CALAMOS ETF TR CPSJ 12811T803 $807.2K 0.26% 29,178 SH
46 PGIM ROCK ETF TR OCTP 69420N742 $789.7K 0.25% 24,433 SH
47 MORGAN STANLEY MS 617446448 $767.0K 0.25% 3,669 SH
48 PGIM ROCK ETF TR PBMY 69420N874 $749.7K 0.24% 24,045 SH
49 SIMPLIFY EXCHANGE TRADED FUN PINK 82889N772 $738.5K 0.24% 18,864 SH
50 CHUBB LIMITED CB H1467J104 $674.8K 0.22% 1,980 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-03 $309.8M 108 0001765380-26-000259
2026-03-31 2026-05-05 $289.4M 103 0001765380-26-000157
2025-12-31 2026-02-05 $278.1M 104 0002033384-26-000001
Filer Information
Address
4120 EAST BELTLINE AVE
SUITE 100
GRAND RAPIDS, MI 49525
Phone
(616) 447-1600
Filing Manager
Blue Water Asset Management
GRAND RAPIDS, MI
Signatory
Andy Armstrong
Chief Compliance Officer