BDRY Breakwave Dry Bulk Shipping ETF
NYSE ARCA · View on SEC EDGAR ↗ 10-K/10-Q Sep 25, 2026
$12.54
· of 52w range
· above low
· to high
$12.0252w low
$16.7152w high
your badges
52W Range
$12–$17
Analyst Rating
·
Price Target
·
P/E
·
ROE
197.3%
Net Profit Margin
·
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BDRY Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$12.54
ROE
197.3%
52W Range
$12–$17
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10-Year Performance Revenue, net income, margins and EPS trends
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | BDRY | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| ROA | 130.6%5Y avg ≈30.8% | ≈30.8% | · | · | |
| ROE | 197.3%5Y avg ≈33.7% | ≈33.7% | · | · |
Financial Health Debt, liquidity, solvency — balance sheet strength
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | BDRY | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Net Income CAGR 3Y | -7.8% | · | · | · | |
| Net Income CAGR 5Y | 5.9% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
value · ≈ 5Y avg · industry median · verdict relative to median
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Expenses | $3M | $2M | $3M | $3M | $3M | $2M | $1M | $1M | $837.9K | $542.1K | |
| Interest Expense | · | · | · | $1.6K | $71.7K | $366 | $238 | · | · | · | |
| Interest Income | $2M | $1M | $2M | $1M | $33.0K | $8.7K | $151.6K | $1M | $464.9K | $67.9K | |
| Other Non-op | · | · | $-6.2K | · | · | · | · | · | · | · | |
| Net Income | $79M | $-17M | $46M | $-35M | $-33M | $59M | $6M | $-4M | $2M | $234.1K |
Balance Sheet
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | · | · | · | · | · | · | · | · | $33.3K | $1.0K | |
| PP&E (Net) | · | · | · | · | · | · | $49M | · | · | · | |
| Total Assets | $53M | $69M | $43M | $79M | $56M | · | $50M | $17M | $56M | $21M | |
| Total Liabilities | $8M | $1M | $1M | $14M | $10M | · | $327.3K | $371.8K | $823.4K | $28.7K | |
| Paid-in Capital | $-59M | $42M | $-1M | · | · | · | · | · | · | · | |
| Retained Earnings | $104M | $25M | $42M | · | · | · | · | · | · | · | |
| Stockholders' Equity | $45M | $67M | $41M | $65M | $46M | $114M | $49M | · | · | · |
Cash Flow
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | · | · | $65M | · | · | $16M | $-2M | $35M | $-32M | $-4M | |
| Stock Issued | · | · | $52M | · | · | $96M | $40M | $27M | $40M | $12M | |
| Stock Repurchased | · | · | $123M | · | · | $90M | $13M | $63M | $8M | $8M | |
| Net Stock Activity | · | · | · | · | · | $5M | · | $-35M | $32M | · | |
| Financing Cash Flow | · | · | $-71M | · | · | $5M | $27M | $-35M | $32M | $4M | |
| Net Change in Cash | · | · | · | · | · | · | · | $-33.3K | $32.3K | · |
Profitability
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | 130.6% | -31.5% | 76.3% | -52.3% | · | · | · | -9.8% | 4.9% | · | |
| ROE | 197.3% | -26.9% | · | -69.2% | · | · | · | · | · | · |
Growth Rates
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income CAGR 3Y | · | · | -7.8% | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 5.9% | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $79M | $-17M | $46M | $-35M | $-33M | $59M | $6M | $-4M | $2M | $234.1K |
Income Statement
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q4 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Expenses | $633.4K | $572.8K | $619.8K | $618.8K | $534.9K | $543.5K | $732.3K | $758.7K | $846.8K | $774.7K | $505.6K | · | $424.7K | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $0 | · | · | $60 | |
| Interest Income | $354.7K | $318.2K | $430.6K | $420.3K | $217.6K | $300.8K | $392.4K | $465.1K | $544.1K | $417.4K | $117.4K | · | $511 | |
| Other Non-op | · | · | · | · | $-1.6K | $-1.7K | · | · | · | · | · | · | · | |
| Net Income | $30M | $6M | $22M | $6M | $-12M | $-5M | $9M | $45M | $418.6K | $24M | $4M | · | $22M |
Balance Sheet
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q4 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | · | · | · | · | · | · | · | · | · | · | · | · | $1M | |
| Total Assets | $103M | $36M | $44M | $64M | $35M | $28M | $66M | $63M | $68M | · | · | · | · | |
| Accounts Payable | · | · | · | · | · | · | $349.8K | · | · | · | · | · | · | |
| Total Liabilities | $3M | $1M | $4M | $1M | $3M | $772.2K | $710.9K | $351.9K | $322.0K | · | · | · | · | |
| Paid-in Capital | $16M | $-18M | $-7M | $32M | $7M | $-10M | · | · | · | · | · | · | · | |
| Retained Earnings | $84M | $54M | $47M | $31M | $25M | $38M | · | · | · | · | · | · | · | |
| Stockholders' Equity | $100M | $35M | $40M | $63M | $32M | $27M | · | $63M | $68M | · | · | · | · |
Cash Flow
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q4 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | · | · | · | $-14M | $-26M | $-137.6K | $30M | $52M | $-15M | · | $9M | · | $21M | |
| Stock Issued | · | · | · | $27M | $22M | $1M | $29M | $537.3K | $14M | · | $12M | · | $21M | |
| Stock Repurchased | · | · | · | $2M | $5M | $11M | $36M | $50M | $11M | · | $14M | · | $23M | |
| Net Stock Activity | · | · | · | · | · | $-9M | · | · | $2M | · | · | · | · | |
| Financing Cash Flow | · | · | · | $25M | $17M | $-9M | $-7M | $-50M | $2M | · | $-2M | · | $-2M |
Profitability
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q4 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | 36.4% | 17.5% | 62.3% | 9.0% | -24.8% | -9.4% | 20.3% | 125.0% | 0.82% | · | · | · | · | |
| ROE | 37.3% | 18.7% | 66.4% | 18.7% | -25.7% | -9.6% | · | 141.9% | 1.2% | · | · | · | · |
Valuation (TTM)
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q4 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $53M | $28M | $10M | $-19M | $-16M | $41M | $14M | $28M | $-13M | · | · | $59M | $6M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2026-06-30 | 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-06-30 |
|---|---|---|---|---|---|
| Net Income | $79M | $-17M | $46M | $-35M | $-33M |
No data for this statement
Not enough fundamentals data to build this statement yet.
No data for this statement
Not enough fundamentals data to build this statement yet.
Institutional owners (13F) 18 filers · $5.3M total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
18
Value held
$5.3M
New positions
5
Exited positions
2
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 5 (+3 vs prior Q) | 2 (-2 vs prior Q) | 2 (-3 vs prior Q) | 6 (+3 vs prior Q) | +93K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| CITADEL ADVISORS LLC | $1,493,246 | 125,800 | 28.07% | Put option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,479,358 | 124,630 | 27.81% | Shares |
| JANE STREET GROUP, LLC | $1,165,100 | 98,155 | 21.90% | Shares |
| MORGAN STANLEY | $375,430 | 31,628 | 7.06% | Shares |
| CITADEL ADVISORS LLC | $227,987 | 19,207 | 4.29% | Shares |
| Marex Group Ltd | $194,217 | 16,362 | 3.65% | Shares |
| CITADEL ADVISORS LLC | $128,196 | 10,800 | 2.41% | Call option |
| Point72 Asset Management, L.P. | $118,700 | 10,000 | 2.23% | Shares |
| OSAIC HOLDINGS, INC. | $50,208 | 4,230 | 0.94% | Shares |
| UBS Group AG | $41,391 | 3,487 | 0.78% | Shares |
| SIMPLEX TRADING, LLC | $19,680 | 1,658 | 0.37% | Shares |
| JPMORGAN CHASE & CO | $14,398 | 1,238 | 0.27% | Shares |
| NATIONAL BANK OF CANADA /FI/ | $4,162 | 350 | 0.08% | Shares |
| Federation des caisses Desjardins du Quebec | $4,155 | 350 | 0.08% | Shares |
| Larson Financial Group LLC | $3,264 | 275 | 0.06% | Shares |
| Blue Trust, Inc. | $195 | 13 | 0.00% | Shares |
| GROUP ONE TRADING LLC | $71 | 6 | 0.00% | Shares |
| Friedenthal Financial | $44 | 3 | 0.00% | Shares |
Activists & 5%+ owners 63 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Undisclosed reporting person | Oct. 5, 2020 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Feb. 18, 2020 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Dec. 10, 2019 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Oct. 7, 2019 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | July 26, 2019 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | June 3, 2019 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | May 6, 2019 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | April 8, 2019 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | April 1, 2019 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Feb. 25, 2019 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Feb. 19, 2019 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Feb. 11, 2019 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Feb. 4, 2019 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Jan. 22, 2019 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Jan. 14, 2019 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Jan. 7, 2019 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Jan. 2, 2019 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Dec. 26, 2018 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Dec. 10, 2018 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Dec. 4, 2018 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Nov. 19, 2018 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Nov. 13, 2018 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Oct. 29, 2018 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person | Oct. 22, 2018 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Oct. 15, 2018 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Oct. 1, 2018 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Sept. 11, 2018 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Sept. 4, 2018 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Aug. 13, 2018 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | July 30, 2018 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | July 20, 2018 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | July 2, 2018 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | June 11, 2018 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | May 14, 2018 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | April 9, 2018 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Feb. 12, 2018 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Jan. 19, 2018 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Jan. 2, 2018 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Dec. 8, 2017 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Dec. 1, 2017 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Nov. 2, 2017 | · | Amendment | Passive investment | SEC |
| Sit Fixed Income Advisors II, LLC, Sit Investment Associates, Inc. | Oct. 2, 2017 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Sept. 19, 2017 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Sept. 11, 2017 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | July 6, 2017 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | June 20, 2017 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | May 25, 2017 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | May 16, 2017 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | March 16, 2017 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Dec. 7, 2016 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Nov. 17, 2016 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Oct. 28, 2016 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Oct. 13, 2016 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Sept. 13, 2016 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Aug. 16, 2016 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | July 26, 2016 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | June 9, 2016 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | May 26, 2016 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | May 12, 2016 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person | April 27, 2016 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person | March 17, 2016 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Feb. 17, 2016 | · | Amendment | Passive investment | SEC |
| Undisclosed reporting person | Sept. 8, 2015 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 1 insider · 0 officers · 0 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| SIT INVESTMENT ASSOCIATES INC | 10% owner | Sept. 28, 2020 S | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
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Source: SEC 10-K filed Sep 25, 2026