Blue Water Asset Management

CIK 0002033384 · Q1 2026

13F Equity AUM

$289.4M

+4.1% QoQ

Positions

103

-1 QoQ

AUM Rank

#5,997

Top 48%

Skill Alpha (FF)

—

No alpha data

Quarters Tracked

~0 years

Portfolio Concentration

Top 5: 39.6%Top 10: 62.6%Top 20: 81.7%

PULS11.7%

JCPB7.4%

UITB7.1%

XMHQ7.0%

SPYM6.4%

USVM6.3%

EVSD5.8%

RWL5.6%

HMOP3.0%

GSIE2.4%

Others (93)37.4%

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

Sector Allocation

Financial Services87.4%

Fund5.5%

Other7.0%

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

Position Sizing

Positions: 103Median: 0.20%Avg: 0.97%

0–0.5%

74(12.8%)

0.5–1%

9(5.5%)

1–3%

12(24.5%)

3–5%

0(0.0%)

5%+

8(57.2%)

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

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Portfolio Overlap

Shared: 70Unique: 33vs 20 funds

1%Low

103

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

1.3%

BANK OF AMERICA CORP /DE/

1.4%

1.3%

1.7%

VANGUARD CAPITAL MANAGEMENT LLC

0.9%

VANGUARD PORTFOLIO MANAGEMENT LLC

GEODE CAPITAL MANAGEMENT, LLC

0.8%

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

New4Increased52Decreased30Exited5

New Positions

PAPI1.8%

+194K

AMZN0.1%

+1K

SMH0.1%

+629

MDLZ0.1%

+4K

Increased

EVSD5.8%

+307K(+1402%)

PFEB0.9%

+54K(+631%)

PAPR0.7%

+32K(+151%)

JCPB7.4%

+26K(+6%)

UITB7.1%

+25K(+6%)

PMAR0.5%

+24K(+220%)

PBFB0.3%

+15K(+135%)

VRP2.4%

+13K(+5%)

XEXGX0.1%

+11K(+55%)

PBAP0.4%

+11K(+37%)

Decreased

PULS11.7%

-140,795(-17%)

JEPI2.3%

-80,333(-41%)

PJUL0.1%

-41,390(-85%)

JPST2.1%

-19,697(-14%)

POCT0.2%

-14,705(-57%)

GSIE2.4%

-10,540(-6%)

PSEP0.1%

-9,853(-49%)

OCTP0.3%

-9,090(-27%)

PBJA1.7%

-5,255(-3%)

PJAN2.0%

-3,860(-3%)

Exited

-17,373

-11,099

-21,241

-657

-11,017

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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