# EDGAR Filing Document

**Accession Number:** 0002033384
**File Stem:** 0002033384-26-000001
**Filing Date:** 2026-2
**Character Count:** 14559
**Document Hash:** f556777394c35165848494c9183149b8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002033384-26-000001.hdr.sgml**: 20260205

**ACCESSION NUMBER**: 0002033384-26-000001

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260205

**DATE AS OF CHANGE**: 20260205

**EFFECTIVENESS DATE**: 20260205

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Blue Water Asset Management
- **CENTRAL INDEX KEY:** 0002033384

**ORGANIZATION NAME:**
- **EIN:** 320458569
- **STATE OF INCORPORATION:** MI

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-26084
- **FILM NUMBER:** 26601085

**BUSINESS ADDRESS:**
- **STREET 1:** 4120 EAST BELTLINE AVE
- **STREET 2:** SUITE 100
- **CITY:** GRAND RAPIDS
- **STATE:** MI
- **ZIP:** 49525
- **BUSINESS PHONE:** 616-447-1600

**MAIL ADDRESS:**
- **STREET 1:** 4120 EAST BELTLINE AVE
- **STREET 2:** SUITE 100
- **CITY:** GRAND RAPIDS
- **STATE:** MI
- **ZIP:** 49525

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**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:** Blue Water Asset Management<br>**Address:** 4120 EAST BELTLINE AVE<br>SUITE 100<br>GRAND RAPIDS, MI 49525

**Form 13F File Number:** 028-26084

**CRD Number (if applicable):** 000175362

**SEC File Number (if applicable):** 801-81153

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:** Andy Armstrong<br>**Title:** Chief Compliance Officer<br>**Phone:** 5138325385

**Signature, Place, and Date of Signing:**

Andrew Armstrong  Cincinnati, OH  02-05-2025<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:** 104

**Form 13F Information Table Value Total:** $278053154

      (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 |
| INVESCO EXCH TRADED FD TR II | VAR RATE PFD | 46138G870 |  | 6790238 | 279089 | SH |  | SOLE |  | 278975 | 0 | 114 |
| J P MORGAN EXCHANGE TRADED F | CORE PLUS BD ETF | 46641Q670 |  | 20213295 | 426891 | SH |  | SOLE |  | 426250 | 0 | 641 |
| J P MORGAN EXCHANGE TRADED F | EQUITY PREMIUM | 46641Q332 |  | 11301819 | 197446 | SH |  | SOLE |  | 197358 | 0 | 89 |
| PGIM ETF TR | PGIM ULTRA SH BD | 69344A107 |  | 40935545 | 825480 | SH |  | SOLE |  | 823969 | 0 | 1511 |
| VICTORY PORTFOLIOS II | CORE INTERMEDIAT | 92647N527 |  | 19595743 | 413808 | SH |  | SOLE |  | 413159 | 0 | 649 |
| ETFIS SER TR I | VIRTUS REAVES UT | 26923G806 |  | 5621484 | 71203 | SH |  | SOLE |  | 71131 | 0 | 73 |
| GOLDMAN SACHS ETF TR | ACTIVEBETA INT | 381430107 |  | 7447716 | 173445 | SH |  | SOLE |  | 172500 | 0 | 944 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A854 |  | 19078272 | 237824 | SH |  | SOLE |  | 237220 | 0 | 604 |
| INVESCO EXCH TRADED FD TR II | S 500 REVENUE | 46138G698 |  | 16336264 | 142675 | SH |  | SOLE |  | 142331 | 0 | 344 |
| INVESCO EXCHANGE TRADED FD T | S MDCP QUALITY | 46137V472 |  | 18981107 | 185326 | SH |  | SOLE |  | 184885 | 0 | 441 |
| VICTORY PORTFOLIOS II | USAA MSCI USA SM | 92647N568 |  | 17693969 | 193786 | SH |  | SOLE |  | 193302 | 0 | 485 |
| CALAMOS ETF TR | S 500 STRUCTUR | 12811T829 |  | 838076 | 30966 | SH |  | SOLE |  | 30966 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | INT-TERM CORP | 92206C870 |  | 382198 | 4564 | SH |  | SOLE |  | 4564 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | LG-TERM COR BD | 92206C813 |  | 369540 | 4872 | SH |  | SOLE |  | 4872 | 0 | 0 |
| HARTFORD FDS EXCHANGE TRADED | MUN OPORTUNITE | 41653L503 |  | 8666293 | 221588 | SH |  | SOLE |  | 221588 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | NASDAQ 100 ETF | 46138G649 |  | 877328 | 3469 | SH |  | SOLE |  | 3459 | 0 | 10 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C656 |  | 877691 | 20076 | SH |  | SOLE |  | 20076 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHRT ETF | 46641Q837 |  | 7183090 | 141986 | SH |  | SOLE |  | 141093 | 0 | 894 |
| APPLE INC | COM | 037833100 |  | 1547882 | 5694 | SH |  | SOLE |  | 5694 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 609253 | 3997 | SH |  | SOLE |  | 3997 | 0 | 0 |
| FORD MTR CO | COM | 345370860 |  | 1234286 | 94077 | SH |  | SOLE |  | 94018 | 0 | 59 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C508 |  | 6111424 | 129975 | SH |  | SOLE |  | 129975 | 0 | 0 |
| CMS ENERGY CORP | COM | 125896100 |  | 1401295 | 20039 | SH |  | SOLE |  | 20039 | 0 | 0 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 451069 | 7002 | SH |  | SOLE |  | 7002 | 0 | 0 |
| JACKSON FINANCIAL INC | COM CL A | 46817M107 |  | 3991322 | 37424 | SH |  | SOLE |  | 37424 | 0 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 592039 | 3459 | SH |  | SOLE |  | 3459 | 0 | 0 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C383 |  | 493012 | 10970 | SH |  | SOLE |  | 10970 | 0 | 0 |
| MERCANTILE BK CORP | COM | 587376104 |  | 268950 | 5591 | SH |  | SOLE |  | 5591 | 0 | 0 |
| GOLDMAN SACHS ETF TR | EQUAL WEIGHT US | 381430438 |  | 264887 | 3112 | SH |  | SOLE |  | 3112 | 0 | 0 |
| CALAMOS ETF TR | S 500 STRUCTUR | 12811T886 |  | 447306 | 16552 | SH |  | SOLE |  | 16552 | 0 | 0 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C797 |  | 1132170 | 25778 | SH |  | SOLE |  | 25778 | 0 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 315040 | 940 | SH |  | SOLE |  | 940 | 0 | 0 |
| CALAMOS ETF TR | S 500 STRUCTU | 12811T795 |  | 652941 | 25089 | SH |  | SOLE |  | 25089 | 0 | 0 |
| MORGAN STANLEY ETF TRUST | EATON VANCE SHOR | 61774R825 |  | 1127757 | 21922 | SH |  | SOLE |  | 21922 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A474 |  | 1073735 | 35554 | SH |  | SOLE |  | 35554 | 0 | 0 |
| PGIM ROCK ETF TR | S 500 BUFFER | 69420N858 |  | 758495 | 25355 | SH |  | SOLE |  | 25355 | 0 | 0 |
| SIMPLIFY EXCHANGE TRADED FUN | HEALTH CARE ETF | 82889N772 |  | 318881 | 8713 | SH |  | SOLE |  | 8617 | 0 | 95 |
| STRYKER CORPORATION | COM | 863667101 |  | 954537 | 2716 | SH |  | SOLE |  | 2716 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 643250 | 3623 | SH |  | SOLE |  | 3623 | 0 | 0 |
| PGIM ROCK ETF TR | S 500 BUFFER | 69420N809 |  | 839319 | 28967 | SH |  | SOLE |  | 28967 | 0 | 0 |
| PGIM ROCK ETF TR | S 500 BUFFER | 69420N205 |  | 5097825 | 165085 | SH |  | SOLE |  | 165085 | 0 | 0 |
| VICTORY PORTFOLIOS II | VICTORYSHARES SM | 92647X822 |  | 300083 | 10177 | SH |  | SOLE |  | 10177 | 0 | 0 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C540 |  | 488546 | 11262 | SH |  | SOLE |  | 11262 | 0 | 0 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 1492117 | 10397 | SH |  | SOLE |  | 10397 | 0 | 0 |
| FIDELITY COVINGTON TRUST | HIGH DIVID ETF | 316092840 |  | 805227 | 14204 | SH |  | SOLE |  | 14204 | 0 | 0 |
| ISHARES TR | CORE MSCI TOTAL | 46432F834 |  | 310995 | 3674 | SH |  | SOLE |  | 3674 | 0 | 0 |
| ISHARES TR | U.S. MED DVC ETF | 464288810 |  | 250475 | 4030 | SH |  | SOLE |  | 4030 | 0 | 0 |
| WORLD GOLD TR | SPDR GLD MINIS | 98149E303 |  | 315528 | 3696 | SH |  | SOLE |  | 3696 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 876131 | 4234 | SH |  | SOLE |  | 4234 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 316537 | 4528 | SH |  | SOLE |  | 4528 | 0 | 0 |
| BOEING CO | COM | 097023105 |  | 357111 | 1645 | SH |  | SOLE |  | 1645 | 0 | 0 |
| PGIM ROCK ETF TR | S 500 BUFFER | 69420N767 |  | 3784200 | 128780 | SH |  | SOLE |  | 128780 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A797 |  | 425238 | 7007 | SH |  | SOLE |  | 7007 | 0 | 0 |
| AIM ETF PRODUCTS TRUST | ALLIANZIM US EQU | 00888H802 |  | 1613821 | 43605 | SH |  | SOLE |  | 43605 | 0 | 0 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C813 |  | 2252319 | 48510 | SH |  | SOLE |  | 48510 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | HEALTHCARE LEADE | 46654Q765 |  | 236982 | 4096 | SH |  | SOLE |  | 4096 | 0 | 0 |
| MOLSON COORS BEVERAGE CO | CL B | 60871R209 |  | 286722 | 6142 | SH |  | SOLE |  | 6142 | 0 | 0 |
| DT MIDSTREAM INC | COMMON STOCK | 23345M107 |  | 407686 | 3406 | SH |  | SOLE |  | 3406 | 0 | 0 |
| DTE ENERGY CO | COM | 233331107 |  | 935285 | 7251 | SH |  | SOLE |  | 7251 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 222470 | 5462 | SH |  | SOLE |  | 5462 | 0 | 0 |
| GOLDMAN SACHS ETF TR | ACTIVEBETA US | 381430602 |  | 331125 | 4378 | SH |  | SOLE |  | 4378 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 376673 | 1169 | SH |  | SOLE |  | 1169 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 2235092 | 4622 | SH |  | SOLE |  | 4622 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 230192 | 1234 | SH |  | SOLE |  | 1234 | 0 | 0 |
| AON PLC | SHS CL A | G0403H108 |  | 378096 | 1071 | SH |  | SOLE |  | 1071 | 0 | 0 |
| CHUBB LIMITED | COM | H1467J104 |  | 615614 | 1972 | SH |  | SOLE |  | 1972 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 |  | 1272766 | 3996 | SH |  | SOLE |  | 3996 | 0 | 0 |
| FIFTH THIRD BANCORP | COM | 316773100 |  | 416888 | 8906 | SH |  | SOLE |  | 8906 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 200703 | 657 | SH |  | SOLE |  | 657 | 0 | 0 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C417 |  | 346233 | 8503 | SH |  | SOLE |  | 8503 | 0 | 0 |
| ALPS ETF TR | OSHARES US QUALT | 00162Q387 |  | 299083 | 5183 | SH |  | SOLE |  | 5183 | 0 | 0 |
| INNOVATOR ETFS TRUST | US EQT PWR BUF | 45782C870 |  | 839124 | 21450 | SH |  | SOLE |  | 21450 | 0 | 0 |
| INNOVATOR ETFS TRUST | US EQUITY ACCELE | 45783Y301 |  | 357576 | 9247 | SH |  | SOLE |  | 9247 | 0 | 0 |
| CALIFORNIA WTR SVC GROUP | COM | 130788102 |  | 209521 | 4835 | SH |  | SOLE |  | 4835 | 0 | 0 |
| UIPATH INC | CL A | 90364P105 |  | 348140 | 21241 | SH |  | SOLE |  | 21241 | 0 | 0 |
| CALAMOS ETF TR | S P 500 STRUCTUR | 12811T605 |  | 456912 | 15962 | SH |  | SOLE |  | 15962 | 0 | 0 |
| PGIM ROCK ETF TR | S 500 BUFFER | 69420N759 |  | 2072890 | 70339 | SH |  | SOLE |  | 70339 | 0 | 0 |
| WINTRUST FINL CORP | COM | 97650W108 |  | 226868 | 1623 | SH |  | SOLE |  | 1623 | 0 | 0 |
| XCEL ENERGY INC | COM | 98389B100 |  | 311760 | 4221 | SH |  | SOLE |  | 4221 | 0 | 0 |
| AIM ETF PRODUCTS TRUST | US LRGCP B20 APR | 00888H208 |  | 295195 | 8468 | SH |  | SOLE |  | 8468 | 0 | 0 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C748 |  | 1107349 | 26441 | SH |  | SOLE |  | 26441 | 0 | 0 |
| CALAMOS ETF TR | S 500 STRUCTUR | 12811T803 |  | 784451 | 29178 | SH |  | SOLE |  | 29178 | 0 | 0 |
| CALAMOS ETF TR | S 500 STRUCTRD | 12811T704 |  | 1024061 | 38021 | SH |  | SOLE |  | 38021 | 0 | 0 |
| INNOVATOR ETFS TRUST | US EQTY PWR BF | 45782C680 |  | 480032 | 11099 | SH |  | SOLE |  | 11099 | 0 | 0 |
| PGIM ROCK ETF TR | S 500 BUFFER | 69420N742 |  | 1031293 | 33980 | SH |  | SOLE |  | 33980 | 0 | 0 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C573 |  | 725844 | 17373 | SH |  | SOLE |  | 17373 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 268735 | 394 | SH |  | SOLE |  | 394 | 0 | 0 |
| PGIM ROCK ETF TR | S 500 BUFFER | 69420N601 |  | 543022 | 17804 | SH |  | SOLE |  | 17804 | 0 | 0 |
| EATON VANCE TAX-MANAGED GLOB | COM | 27829F108 |  | 190669 | 20007 | SH |  | SOLE |  | 20007 | 0 | 0 |
| SERIES PORTFOLIOS TR | ELDRIDGE AAA CLO | 81752T486 |  | 305280 | 11967 | SH |  | SOLE |  | 11967 | 0 | 0 |
| PGIM ROCK ETF TR | S 500 BUFFER | 69420N874 |  | 282111 | 9399 | SH |  | SOLE |  | 9399 | 0 | 0 |
| PGIM ROCK ETF TR | S 500 BUFFER | 69420N833 |  | 335097 | 11182 | SH |  | SOLE |  | 11182 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | MUNICIPAL ETF | 46641Q647 |  | 465535 | 9219 | SH |  | SOLE |  | 9219 | 0 | 0 |
| EATON VANCE TAX-MANAGED GLOB | COM | 27829C105 |  | 101573 | 11017 | SH |  | SOLE |  | 11017 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET FIN | 81369Y605 |  | 298017 | 5441 | SH |  | SOLE |  | 5441 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 6038400 | 8 | SH |  | SOLE |  | 8 | 0 | 0 |
| AIM ETF PRODUCTS TRUST | ALLIANZIM US EQT | 00888H794 |  | 463752 | 13664 | SH |  | SOLE |  | 13664 | 0 | 0 |
| INNOVATOR ETFS TRUST | US EQT ACC 9 BFR | 45783Y780 |  | 583328 | 18246 | SH |  | SOLE |  | 18246 | 0 | 0 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 369762 | 1274 | SH |  | SOLE |  | 1274 | 0 | 0 |
| PGIM ROCK ETF TR | S 500 BUFFER | 69420N403 |  | 348835 | 11459 | SH |  | SOLE |  | 11459 | 0 | 0 |
| PGIM ROCK ETF TR | S 500 BUFFER | 69420N817 |  | 314061 | 10483 | SH |  | SOLE |  | 10483 | 0 | 0 |
| CALAMOS ETF TR | S 500 STRUCTUR | 12811T761 |  | 334716 | 13285 | SH |  | SOLE |  | 13285 | 0 | 0 |
| GOLDMAN SACHS ETF TR | ACTIVEBETA US LG | 381430503 |  | 392980 | 2969 | SH |  | SOLE |  | 2969 | 0 | 0 |
| MORGAN STANLEY ETF TRUST | EATON VANCE FLTG | 61774R833 |  | 249984 | 5053 | SH |  | SOLE |  | 5053 | 0 | 0 |

---