Breakwater Investment Management
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 8, 2024), Breakwater Investment Management reported 315 stock positions worth $223.6 million. Its top holding was VG Morningstar TS MKT ETF-US (VTI) at 14.0% of the portfolio, followed by Schwab US Broad Market ETF (SCHB, 8.9%) and Vanguard Total Intl Stock (VXUS, 6.0%). Compared with Q1 2024, it opened 15 new positions, sold out of 12, added to 46 and reduced 37. The biggest buy was iShares Euro High Yield (EUHY, shares +993%) and the biggest sale Vanguard Total Intl Bond ETF (BNDX, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- SEATTLE, WA
- CIK
- 0002025925
- Portfolio Value
- $223.6M (Q2 2024)
- SEC Filing
- 0002025925-24-000002 ↗ filed Aug 8, 2024
Holdings Value
Holdings 315 stocks · $223.6M
| VTI VG Morningstar TS MKT ETF-US | 14.04% | 117,354 | $31.4M | Add +1.7% |
| SCHB Schwab US Broad Market ETF | 8.89% | 315,948 | $19.9M | Reduce -1.5% |
| VXUS Vanguard Total Intl Stock | 6.00% | 222,629 | $13.4M | Add +1.7% |
| BND Vanguard Total Bond Market | 5.47% | 169,770 | $12.2M | Add +1.2% |
| MSFT Microsoft Corp. | 5.46% | 27,320 | $12.2M | Add +0.1% |
| BNDX Vanguard Total Intl Bond ETF | 4.84% | 222,328 | $10.8M | Reduce -2.3% |
| VEU Vanguard Ftse All-World Ex-U | 2.61% | 99,419 | $5.8M | Add +1.9% |
| SPTM SS SPDR P S&P 1500 Comp ETF | 2.48% | 83,575 | $5.5M | Add +0.1% |
| VT Vanguard Tot World STK ETF | 2.37% | 47,122 | $5.3M | Reduce -0.2% |
| VYM Vanguard High DVD Yield ETF | 2.29% | 43,112 | $5.1M | Reduce -2.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 2.15% | 8,835 | $4.8M | Add +0.0% |
| VWO Vanguard Ftse Emerging Marke | 2.15% | 109,857 | $4.8M | Add +0.4% |
| SCHF Schwab Intl Equity ETF | 2.12% | 123,559 | $4.7M | Reduce -0.4% |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 2.02% | 14,381 | $4.5M | Reduce -1.9% |
| SCHD Schwab US DVD Equity ETF | 1.94% | 55,780 | $4.3M | Reduce -5.3% |
| VGSH Vanguard Short-Term Treasury | 1.92% | 73,852 | $4.3M | Reduce -4.1% |
| VIG Vanguard Dividend Apprec ETF | 1.90% | 23,243 | $4.2M | Add +4.1% |
| SCHO Schwab Short-Term US Treas | 1.87% | 87,065 | $4.2M | Reduce -8.9% |
| MGV Vngrd Mrgstr MG CP VL ETF-Ui | 1.82% | 34,301 | $4.1M | Add +2.3% |
| SCHZ Schwab US Aggregate Bond ETF | 1.77% | 86,805 | $4.0M | Add +13.1% |
| PRFT Perficient Inc. | 1.32% | 39,394 | $2.9M | No change |
| IAGG iShares Intl Aggregate Bond | 1.25% | 55,929 | $2.8M | Add +14.5% |
| SPAB SS SPDR P Agg Bond ETF | 1.08% | 96,411 | $2.4M | Reduce -8.1% |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.98% | 62,687 | $2.2M | Reduce -1.3% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 0.93% | 78,275 | $2.1M | Add +0.2% |
| VYMI Vanguard Int High DVD YLD Inc. | 0.89% | 29,096 | $2.0M | Add +2.3% |
| VNQ Vanguard Real Estate ETF | 0.87% | 23,166 | $1.9M | Reduce -6.7% |
| VWOB Vanguard Emerg MKTS Gov BND | 0.79% | 28,156 | $1.8M | Add +1.0% |
| GII State Street SPDR S&P Global | 0.71% | 29,079 | $1.6M | Add +3.3% |
| SCHX Schwab US Large-Cap ETF | 0.71% | 24,627 | $1.6M | Add +7.6% |
| VTIP Vanguard Short-Term Tips | 0.68% | 31,122 | $1.5M | Reduce -23.7% |
| SCHP Schwab U.S. Tips ETF | 0.66% | 28,229 | $1.5M | Reduce -2.3% |
| VIGI Vanguard Int Div App Indx FD | 0.54% | 14,783 | $1.2M | No change |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.52% | 3,108 | $1.2M | No change |
| AMZN Amazon.com Inc. | 0.52% | 6,014 | $1.2M | Add +0.0% |
| SCHH Schwab US REIT ETF | 0.48% | 53,496 | $1.1M | Add +4.8% |
| STIP iShares 0-5 Year Tips Bond E | 0.47% | 10,582 | $1.1M | No change |
| EUHY iShares Euro High Yield Corp. | 0.47% | 21,538 | $1.0M | Add +993.3% |
| VEA Vanguard Ftse Developed ETF | 0.43% | 19,245 | $951K | Add +2.5% |
| VNQI Vanguard GLBL Ex-US Real Est | 0.39% | 21,301 | $864K | Reduce -7.6% |
| SPTS SS SPDR P St Term TSY ETF | 0.37% | 28,868 | $833K | Reduce -9.7% |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | 0.36% | 4,032 | $795K | Add +6.9% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.34% | 3,077 | $768K | No change |
| GOOGL Alphabet Inc. Class A | 0.34% | 4,187 | $763K | No change |
| VOTE TCW Transform 500 ETF | 0.31% | 10,824 | $688K | Add +0.5% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.31% | 13,614 | $682K | Add +5.5% |
| BBEU JPMorgan Betabuilders Europe | 0.30% | 11,570 | $681K | Add +2.9% |
| NVDA Nvidia Corp. | 0.28% | 5,050 | $624K | Reduce -0.6% |
| VGK Vanguard Ftse Europe ETF | 0.26% | 8,663 | $578K | Reduce -4.3% |
| BSV Vanguard Short-Term Bond ETF | 0.23% | 6,825 | $523K | Add +4.3% |
| VGIT Vanguard Intermediate-Term T | 0.23% | 8,891 | $518K | Add +771.7% |
| XLK SS Technology Select Sector | 0.23% | 2,273 | $514K | No change |
| AAXJ iShares MSCI All Country Asi | 0.22% | 6,838 | $492K | Reduce -9.3% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.22% | 3,004 | $482K | Add +0.7% |
| SPSB SS SPDR P St C Corp. ETF | 0.21% | 15,857 | $471K | No change |
| MUB iShares National Muni Bond E | 0.21% | 4,373 | $466K | Add +1377.4% |
| STPZ PIMCO 1-5 Year US Tips Index | 0.21% | 8,957 | $463K | Reduce -0.9% |
| AAPL Apple Inc. | 0.19% | 2,033 | $428K | Add +11.3% |
| VGT Vanguard Info Tech ETF | 0.18% | 688 | $397K | No change |
| WOOD iShares Global Timber & Fore | 0.17% | 4,841 | $379K | No change |
| GLD SPDR Gold Shares | 0.17% | 1,734 | $373K | Add +2.9% |
| GSG iShares S&P Gsci Commodity I | 0.15% | 15,520 | $344K | Add +263.0% |
| SPBO SS SPDR P Corp. Bond ETF | 0.15% | 11,410 | $327K | New |
| IWM iShares Russell 2000 ETF | 0.14% | 1,504 | $305K | No change |
| MRK Merck & Co. Inc. | 0.14% | 2,461 | $305K | No change |
| DVY iShares Select Dividend ETF | 0.11% | 2,072 | $251K | No change |
| IVV iShares Core S&P 500 ETF | 0.11% | 449 | $246K | No change |
| HD Home Depot Inc. | 0.11% | 689 | $237K | Reduce -52.0% |
| VPL Vanguard Ftse Pacific ETF | 0.10% | 3,157 | $234K | No change |
| KO The Coca-Cola Co. | 0.10% | 3,536 | $225K | No change |
| VB Vanguard Most SM-Cap ETF-Usd | 0.10% | 1,016 | $222K | No change |
| GOOG Alphabet Inc. Class C | 0.10% | 1,200 | $220K | No change |
| PRF Invesco Rafi US 1000 ETF | 0.10% | 5,600 | $213K | No change |
| META Meta Platforms Inc. Class A | 0.10% | 421 | $212K | No change |
| SPEM State Street SP PTF Em ETF | 0.09% | 5,617 | $212K | No change |
| ADBE Adobe Inc. | 0.09% | 367 | $204K | Add +32.0% |
| MDY State Street SPDR S&P Midcap | 0.09% | 380 | $203K | No change |
| ISRG Intuitive Surgical Inc. | 0.09% | 451 | $201K | No change |
| FNDB Schwab Fndmntl US BRD Mr ETF | 0.09% | 3,029 | $199K | No change |
| TMO Thermo Fisher Scientific Inc. | 0.09% | 358 | $198K | No change |
| IXJ iShares Global Healthcare Et | 0.09% | 2,098 | $195K | No change |
| VCIT Vanguard Int-Term Corporate | 0.08% | 2,342 | $187K | No change |
| VTC Vanguard Total Corporate BND | 0.08% | 2,464 | $187K | New |
| IOO iShares Global 100 ETF | 0.08% | 1,828 | $177K | No change |
| XHB SS SPDR S&P Homebldrs ETF | 0.08% | 1,720 | $174K | No change |
| VIS Vanguard Industrials ETF | 0.08% | 731 | $172K | Reduce -16.1% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.08% | 2,672 | $171K | No change |
| VGLT Vanguard Long-Term Treasury | 0.07% | 2,830 | $163K | No change |
| XOM Exxon Mobil Corp. | 0.07% | 1,403 | $162K | No change |
| EEM iShares MSCI Emerging Market | 0.07% | 3,601 | $153K | No change |
| VCSH Vanguard S/T Corp. Bond ETF | 0.07% | 1,895 | $146K | Reduce -2.5% |
| VOO Vanguard S&P 500 ETF | 0.07% | 292 | $146K | Add +0.7% |
| CSCO Cisco Systems Inc. | 0.06% | 2,992 | $142K | No change |
| INDY iShares India 50 ETF | 0.06% | 2,565 | $138K | No change |
| AGGY Wisdomtree Yield Enhanced US | 0.06% | 3,128 | $134K | New |
| WMT Walmart Inc. | 0.06% | 1,946 | $132K | No change |
| QQQ Invesco QQQ Trust Series 1 | 0.06% | 272 | $130K | No change |
| GRMN Garmin Ltd. | 0.06% | 790 | $129K | No change |
| FNDX Schwab Fndmntl US LRG Co. ETF | 0.05% | 1,796 | $120K | No change |
| SBUX Starbucks Corp. | 0.05% | 1,513 | $118K | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $42 (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 1 | $42 | No change |
Lines left out (1) · $6 — a value with no share or principal amount
| Security | Class | Shares | Value |
|---|---|---|---|
| LUV Southwest Airlines Co. | COM | 0 | $6 |
Filed with a value but no share or principal amount (a cash line, a holding rounded to 0 shares), so they are kept out of the holdings, totals and percentages.
Total filed on the 13F, all lines: $223.6M.
Portfolio Sells Q1 2024 → Q2 2024
| BNDX Vanguard Total Intl Bond ETF | Reduce -2.3% | 4.84% | −0.31 |
| SCHD Schwab US DVD Equity ETF | Reduce -5.3% | 1.94% | −0.25 |
| SCHO Schwab Short-Term US Treas | Reduce -8.9% | 1.87% | −0.25 |
| VTIP Vanguard Short-Term Tips | Reduce -23.7% | 0.68% | −0.22 |
| VYM Vanguard High DVD Yield ETF | Reduce -2.6% | 2.29% | −0.18 |
| HD Home Depot Inc. | Reduce -52.0% | 0.11% | −0.15 |
| VGSH Vanguard Short-Term Treasury | Reduce -4.1% | 1.92% | −0.14 |
| SPAB SS SPDR P Agg Bond ETF | Reduce -8.1% | 1.08% | −0.14 |
| SCHB Schwab US Broad Market ETF | Reduce -1.5% | 8.89% | −0.13 |
| VNQ Vanguard Real Estate ETF | Reduce -6.7% | 0.87% | −0.12 |
| SCHF Schwab Intl Equity ETF | Reduce -0.4% | 2.12% | −0.10 |
| VUSB Vanguard Ultra Short Bond Et | Sold out | 0.00% | −0.07 |
| SPDW Ste STR SPDR PT DW Eu ETF | Reduce -1.3% | 0.98% | −0.06 |
| VNQI Vanguard GLBL Ex-US Real Est | Reduce -7.6% | 0.39% | −0.06 |
| SPTS SS SPDR P St Term TSY ETF | Reduce -9.7% | 0.37% | −0.05 |
| SCHP Schwab U.S. Tips ETF | Reduce -2.3% | 0.66% | −0.04 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Reduce -71.8% | 0.01% | −0.04 |
| XLY SS Consumer Disc Select Sect | Sold out | 0.00% | −0.03 |
| ILF iShares Latin America 40 ETF | Reduce -61.4% | 0.01% | −0.03 |
| VT Vanguard Tot World STK ETF | Reduce -0.2% | 2.37% | −0.03 |
| AZN Astrazeneca PLC-Spons ADR | Sold out | 0.00% | −0.02 |
| VGK Vanguard Ftse Europe ETF | Reduce -4.3% | 0.26% | −0.02 |
| VIS Vanguard Industrials ETF | Reduce -16.1% | 0.08% | −0.02 |
| EPI Wisdomtree India Earnings | Reduce -56.7% | 0.01% | −0.02 |
| AAXJ iShares MSCI All Country Asi | Reduce -9.3% | 0.22% | −0.01 |
| XLF SS Financial Select Sector | Sold out | 0.00% | −0.01 |
| STPZ PIMCO 1-5 Year US Tips Index | Reduce -0.9% | 0.21% | −0.01 |
| BWX SS SPDR BB Intl Treasury BD | Reduce -22.0% | 0.02% | −0.01 |
| TIP iShares Tips Bond ETF | Reduce -11.7% | 0.03% | −0.01 |
| EPP iShares MSCI Pacific Ex Japa | Reduce -19.7% | 0.02% | −0.01 |
| EWY iShares MSCI South Korea ETF | Reduce -11.0% | 0.03% | −0.00 |
| ERTH Invesco MSCI Sustainable Fut | Sold out | 0.00% | −0.00 |
| BWZ State Street SPDR Bloomberg | Sold out | 0.00% | −0.00 |
| SPIP SS SPDR P Tips ETF | Reduce -29.6% | 0.01% | −0.00 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -2.5% | 0.07% | −0.00 |
| CMCSA Comcast Corp. Class A | Reduce -13.3% | 0.01% | −0.00 |
| EWS iShares MSCI Singapore ETF | Reduce -78.3% | 0.00% | −0.00 |
| IWV iShares Russell 3000 ETF | Reduce -13.5% | 0.01% | −0.00 |
| DHR Danaher Corp. | Reduce -1.4% | 0.04% | −0.00 |
| THD iShares MSCI Thailand ETF | Sold out | 0.00% | −0.00 |
| RTX RTX Corp. | Reduce -5.4% | 0.01% | −0.00 |
| IEMG iShares Core MSCI Emerging | Sold out | 0.00% | −0.00 |
| GBIL Goldman Sachs Access Treasur | Sold out | 0.00% | −0.00 |
| JPST JPMorgan Ultra-Short Income | Sold out | 0.00% | −0.00 |
| EMBC Embecta Corp. | Sold out | 0.00% | −0.00 |
| NIO Nio Inc. - ADR | Sold out | 0.00% | 0.00 |
| VLTO Veralto Corp. | Reduce -0.9% | 0.00% | +0.00 |
| NVDA Nvidia Corp. | Reduce -0.6% | 0.28% | +0.07 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Reduce -1.9% | 2.02% | +0.09 |
Portfolio Buys Q1 2024 → Q2 2024
| EUHY iShares Euro High Yield Corp. | Add +993.3% | 0.47% | +0.43 |
| VTI VG Morningstar TS MKT ETF-US | Add +1.7% | 14.04% | +0.24 |
| VGIT Vanguard Intermediate-Term T | Add +771.7% | 0.23% | +0.20 |
| MUB iShares National Muni Bond E | Add +1377.4% | 0.21% | +0.19 |
| MSFT Microsoft Corp. | Add +0.1% | 5.46% | +0.18 |
| SPBO SS SPDR P Corp. Bond ETF | New | 0.15% | +0.15 |
| SCHZ Schwab US Aggregate Bond ETF | Add +13.1% | 1.77% | +0.15 |
| IAGG iShares Intl Aggregate Bond | Add +14.5% | 1.25% | +0.13 |
| GSG iShares S&P Gsci Commodity I | Add +263.0% | 0.15% | +0.11 |
| VTC Vanguard Total Corporate BND | New | 0.08% | +0.08 |
| AGGY Wisdomtree Yield Enhanced US | New | 0.06% | +0.06 |
| SCHX Schwab US Large-Cap ETF | Add +7.6% | 0.71% | +0.05 |
| AAPL Apple Inc. | Add +11.3% | 0.19% | +0.05 |
| VWO Vanguard Ftse Emerging Marke | Add +0.4% | 2.15% | +0.05 |
| SPTB SS SPDR P Treasury ETF | New | 0.04% | +0.04 |
| SCYB Schwab High Yield Bond ETF | Add +8831.6% | 0.04% | +0.04 |
| REET iShares Global REIT ETF | Add +298.9% | 0.05% | +0.03 |
| EMB iShares JP Morgan Usd Emergi | Add +4964.7% | 0.03% | +0.03 |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | Add +6.9% | 0.36% | +0.03 |
| ADBE Adobe Inc. | Add +32.0% | 0.09% | +0.03 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +0.0% | 2.15% | +0.02 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Add +0.2% | 0.93% | +0.02 |
| VIG Vanguard Dividend Apprec ETF | Add +4.1% | 1.90% | +0.02 |
| AMZN Amazon.com Inc. | Add +0.0% | 0.52% | +0.02 |
| SPTM SS SPDR P S&P 1500 Comp ETF | Add +0.1% | 2.48% | +0.02 |
| ETN Eaton Corp. PLC | Add +1560.0% | 0.01% | +0.01 |
| GII State Street SPDR S&P Global | Add +3.3% | 0.71% | +0.01 |
| JPM JPMorgan Chase & Co. | Add +66.9% | 0.02% | +0.01 |
| GLD SPDR Gold Shares | Add +2.9% | 0.17% | +0.01 |
| CME Cme Group Inc. | New | 0.01% | +0.01 |
| TRGP Targa Resources Corp. | New | 0.01% | +0.01 |
| CB Chubb Ltd. | Add +142.9% | 0.01% | +0.01 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +5.5% | 0.31% | +0.00 |
| ABBV Abbvie Inc. | Add +101.5% | 0.01% | +0.00 |
| SCHR Schwab Intermediate-Term US | Add +14.3% | 0.05% | +0.00 |
| APD Air Products & Chemicals Inc. | New | 0.00% | +0.00 |
| JBL Jabil Inc. | New | 0.00% | +0.00 |
| VOTE TCW Transform 500 ETF | Add +0.5% | 0.31% | +0.00 |
| JAAA Janus Henderson Aaa Clo ETF | New | 0.00% | +0.00 |
| DOW Dow Inc. | New | 0.00% | +0.00 |
| UNP Union Pacific Corp. | New | 0.00% | +0.00 |
| BSV Vanguard Short-Term Bond ETF | Add +4.3% | 0.23% | +0.00 |
| NEE Nextera Energy Inc. | Add +39.3% | 0.01% | +0.00 |
| VZ Verizon Communications Inc. | Add +375.0% | 0.00% | +0.00 |
| DVN Devon Energy Corp. | New | 0.00% | +0.00 |
| HEES H&E Equipment Services Inc. | New | 0.00% | +0.00 |
| FT Franklin Universal Trust | New | 0.00% | +0.00 |
| VOO Vanguard S&P 500 ETF | Add +0.7% | 0.07% | +0.00 |
| SCHH Schwab US REIT ETF | Add +4.8% | 0.48% | +0.00 |
| OGN Organon & Co. | New | 0.00% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 599 | $293.7M | VTI, SCHB, VXUS, SPTM, MSFT |
| Q1 2026 | 505 | $268.9M | VTI, SCHB, VXUS, BND, MSFT |
| Q4 2025 | 496 | $276.4M | VTI, SCHB, VXUS, MSFT, BNDX |
| Q3 2025 | 529 | $271.2M | VTI, SCHB, VXUS, MSFT, BNDX |
| Q2 2025 | 309 | $258.5M | VTI, SCHB, VXUS, MSFT, BND |
| Q1 2025 | 314 | $234.2M | VTI, SCHB, VXUS, BND, BNDX |
| Q4 2024Amended | 307 | $235.2M | VTI, SCHB, VXUS, BND, MSFT |
| Q3 2024Amended | 308 | $239.5M | VTI, SCHB, VXUS, BND, MSFT |
| Q2 2024 | 315 | $223.6M | VTI, SCHB, VXUS, BND, MSFT |
| Q1 2024 | 312 | $217.3M | VTI, SCHB, VXUS, BND, MSFT |