Here are the 10-K annual reports from Breakwave Dry Bulk Shipping ETF (BDRY) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow BDRY and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BDRY filings page.
Amplify Commodity Trust reported combined net income of $79.2 million for the year ended June 30, 2026, compared with a combined net loss of $17.5 million the prior year. BDRY reported net income of $40.4 million and BWET reported net income of $38.8 million. Across both funds, realized futures gains were $83.5 million, alongside a $3.5 million change in unrealized futures losses and a $0.8 million net investment loss.
Combined net assets were $45.1 million at June 30, 2026, down from $67.1 million a year earlier. Share transactions reduced net assets by $101.2 million, with $236.8 million in redemptions and $135.6 million in additions; operations increased net assets by $79.2 million. The funds invest principally in exchange-cleared freight futures. BDRY's benchmark mix includes 50% Capesize, 40% Panamax and 10% Supramax exposure; BWET's includes 90% TD3C and 10% TD20 exposure. Each fund's covered expenses are capped at an annual rate of 3.50% through December 31, 2026, excluding brokerage commissions, interest expense and extraordinary expenses. Futures also carry risks of losses beyond variation margin and possible illiquidity.
The filing is Amplify Commodity Trust's annual report covering the Breakwave Dry Bulk Shipping ETF (BDRY) and Breakwave Tanker Shipping ETF (BWET). It discloses fund assets, holdings in freight futures (Capesize, Panamax, Supramax for BDRY; TD3C and TD20 for BWET), collateral and margin practices, fee arrangements and expense caps, and certain operational metrics. BDRY reported $40,876,890 in assets (combined schedule shows $42,386,818 total assets) and BWET reported assets including $31,739,612 pledged as collateral for futures. The funds use futures roll methodologies and note differences between benchmark portfolio assumptions and actual fund trading (commissions, clearing fees, minimum lot sizes). Expense caps limit fund expenses to 3.50% of average daily net assets through December 31, 2025, supported by fee waivers; Breakwave may recoup waived fees subject to limits. The filing states no known material cybersecurity incidents affecting the funds and describes vendor cybersecurity assessments. Material operational figures disclosed include brokerage commissions (BDRY: $457,339 2025; BWET: $30,320 2025), routine expenses (BDRY: $1,634,010 2025; BWET: $458,518 2025), and potential recoupment exposure for BWET of $803,901.