Breakwater Investment Management
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed January 16, 2025), Breakwater Investment Management reported 308 stock positions worth $239.5 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, 8.8%) and Vanguard Total Intl Stock (VXUS, 6.0%). Compared with Q2 2024, it opened 8 new positions, sold out of 15, added to 48 and reduced 41. The biggest buy was Vanguard Intermediate-Term T (VGIT, shares +154%) and the biggest sale Vanguard Short-Term Treasury (VGSH, shares −13%).
- Most Recent 13F
- Q2 2026
- Location
- SEATTLE, WA
- CIK
- 0002025925
- Portfolio Value
- $239.5M (Q3 2024)
- SEC Filing
- 0002025925-25-000002 ↗ filed Jan 16, 2025
Holdings Value
Holdings 308 stocks · $239.5M
| VTI VG Morningstar TS MKT ETF-US | 13.98% | 118,263 | $33.5M | Add +0.8% |
| SCHB Schwab US Broad Market ETF | 8.85% | 318,546 | $21.2M | Add +0.8% |
| VXUS Vanguard Total Intl Stock | 6.04% | 223,457 | $14.5M | Add +0.4% |
| BND Vanguard Total Bond Market | 5.64% | 179,997 | $13.5M | Add +6.0% |
| MSFT Microsoft Corp. | 4.95% | 27,548 | $11.9M | Add +0.8% |
| BNDX Vanguard Total Intl Bond ETF | 4.74% | 225,794 | $11.4M | Add +1.6% |
| VEU Vanguard Ftse All-World Ex-U | 2.67% | 101,608 | $6.4M | Add +2.2% |
| SPTM SS SPDR P S&P 1500 Comp ETF | 2.62% | 89,424 | $6.3M | Add +7.0% |
| VT Vanguard Tot World STK ETF | 2.34% | 46,740 | $5.6M | Reduce -0.8% |
| VWO Vanguard Ftse Emerging Marke | 2.15% | 107,837 | $5.2M | Reduce -1.8% |
| SCHF Schwab Intl Equity ETF | 2.13% | 123,826 | $5.1M | Add +0.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 2.12% | 8,835 | $5.1M | No change |
| VYM Vanguard High DVD Yield ETF | 2.01% | 37,564 | $4.8M | Reduce -12.9% |
| VIG Vanguard Dividend Apprec ETF | 2.01% | 24,279 | $4.8M | Add +4.5% |
| SCHD Schwab US DVD Equity ETF | 1.95% | 55,377 | $4.7M | Reduce -0.7% |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 1.91% | 14,215 | $4.6M | Reduce -1.1% |
| MGV Vngrd Mrgstr MG CP VL ETF-Ui | 1.83% | 34,083 | $4.4M | Reduce -0.6% |
| SCHZ Schwab US Aggregate Bond ETF | 1.82% | 91,983 | $4.4M | Add +6.0% |
| SCHO Schwab Short-Term US Treas | 1.70% | 83,312 | $4.1M | Reduce -4.3% |
| VGSH Vanguard Short-Term Treasury | 1.59% | 64,563 | $3.8M | Reduce -12.6% |
| IAGG iShares Intl Aggregate Bond | 1.26% | 58,307 | $3.0M | Add +4.3% |
| PRFT Perficient Inc. | 1.24% | 39,394 | $3.0M | No change |
| SPAB SS SPDR P Agg Bond ETF | 1.02% | 93,501 | $2.4M | Reduce -3.0% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 1.00% | 81,838 | $2.4M | Add +4.5% |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.99% | 62,953 | $2.4M | Add +0.4% |
| VNQ Vanguard Real Estate ETF | 0.93% | 22,899 | $2.2M | Reduce -1.1% |
| VYMI Vanguard Int High DVD YLD Inc. | 0.88% | 28,848 | $2.1M | Reduce -0.8% |
| VWOB Vanguard Emerg MKTS Gov BND | 0.81% | 29,224 | $1.9M | Add +3.8% |
| GII State Street SPDR S&P Global | 0.77% | 29,867 | $1.8M | Add +2.7% |
| SCHX Schwab US Large-Cap ETF | 0.71% | 24,957 | $1.7M | Add +1.3% |
| EUHY iShares Euro High Yield Corp. | 0.66% | 30,139 | $1.6M | Add +39.9% |
| SCHP Schwab U.S. Tips ETF | 0.63% | 27,941 | $1.5M | Reduce -1.0% |
| VTIP Vanguard Short-Term Tips | 0.62% | 30,111 | $1.5M | Reduce -3.3% |
| VGIT Vanguard Intermediate-Term T | 0.57% | 22,580 | $1.4M | Add +154.0% |
| VIGI Vanguard Int Div App Indx FD | 0.54% | 14,783 | $1.3M | No change |
| SCHH Schwab US REIT ETF | 0.53% | 54,562 | $1.3M | Add +2.0% |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | 0.50% | 5,795 | $1.2M | Add +43.7% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.50% | 3,108 | $1.2M | No change |
| AMZN Amazon.com Inc. | 0.47% | 6,014 | $1.1M | No change |
| STIP iShares 0-5 Year Tips Bond E | 0.45% | 10,588 | $1.1M | Add +0.1% |
| VEA Vanguard Ftse Developed ETF | 0.44% | 20,169 | $1.1M | Add +4.8% |
| VNQI Vanguard GLBL Ex-US Real Est | 0.43% | 22,141 | $1.0M | Add +3.9% |
| SPTS SS SPDR P St Term TSY ETF | 0.35% | 28,687 | $844K | Reduce -0.6% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.34% | 3,077 | $810K | No change |
| VTC Vanguard Total Corporate BND | 0.33% | 10,103 | $801K | Add +310.0% |
| BBEU JPMorgan Betabuilders Europe | 0.32% | 12,184 | $760K | Add +5.3% |
| VOTE TCW Transform 500 ETF | 0.31% | 10,921 | $732K | Add +0.9% |
| GOOGL Alphabet Inc. Class A | 0.30% | 4,271 | $708K | Add +2.0% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.29% | 13,614 | $696K | No change |
| NVDA Nvidia Corp. | 0.26% | 5,130 | $623K | Add +1.6% |
| VGK Vanguard Ftse Europe ETF | 0.25% | 8,416 | $598K | Reduce -2.9% |
| MUB iShares National Muni Bond E | 0.23% | 5,127 | $557K | Add +17.2% |
| AAXJ iShares MSCI All Country Asi | 0.22% | 6,796 | $533K | Reduce -0.6% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.22% | 3,041 | $531K | Add +1.2% |
| BSV Vanguard Short-Term Bond ETF | 0.22% | 6,664 | $524K | Reduce -2.4% |
| XLK SS Technology Select Sector | 0.21% | 2,273 | $513K | No change |
| GSG iShares S&P Gsci Commodity I | 0.21% | 23,533 | $494K | Add +51.6% |
| SPSB SS SPDR P St C Corp. ETF | 0.20% | 15,857 | $480K | No change |
| STPZ PIMCO 1-5 Year US Tips Index | 0.19% | 8,739 | $462K | Reduce -2.4% |
| BIV Vanguard Intermediate-Term B | 0.18% | 5,485 | $430K | New |
| GLD SPDR Gold Shares | 0.18% | 1,767 | $429K | Add +1.9% |
| AAPL Apple Inc. | 0.18% | 1,835 | $428K | Reduce -9.7% |
| WOOD iShares Global Timber & Fore | 0.17% | 4,841 | $417K | No change |
| VGT Vanguard Info Tech ETF | 0.17% | 688 | $404K | No change |
| SPBO SS SPDR P Corp. Bond ETF | 0.14% | 11,410 | $343K | No change |
| IWM iShares Russell 2000 ETF | 0.14% | 1,504 | $332K | No change |
| DVY iShares Select Dividend ETF | 0.12% | 2,082 | $281K | Add +0.5% |
| MRK Merck & Co. Inc. | 0.12% | 2,461 | $279K | No change |
| IVV iShares Core S&P 500 ETF | 0.11% | 449 | $259K | No change |
| KO The Coca-Cola Co. | 0.11% | 3,536 | $254K | No change |
| VPL Vanguard Ftse Pacific ETF | 0.10% | 3,157 | $247K | No change |
| META Meta Platforms Inc. Class A | 0.10% | 421 | $241K | No change |
| PLTR Palantir Technologies Inc. Class A | 0.10% | 6,350 | $236K | Add +6250.0% |
| PRF Invesco Rafi US 1000 ETF | 0.10% | 5,600 | $228K | No change |
| VB Vanguard Most SM-Cap ETF-Usd | 0.09% | 951 | $226K | Reduce -6.4% |
| ISRG Intuitive Surgical Inc. | 0.09% | 451 | $222K | No change |
| TMO Thermo Fisher Scientific Inc. | 0.09% | 358 | $221K | No change |
| SPEM State Street SP PTF Em ETF | 0.09% | 5,353 | $221K | Reduce -4.7% |
| XHB SS SPDR S&P Homebldrs ETF | 0.09% | 1,751 | $218K | Add +1.8% |
| MDY State Street SPDR S&P Midcap | 0.09% | 380 | $216K | No change |
| GOOG Alphabet Inc. Class C | 0.09% | 1,284 | $215K | Add +7.0% |
| FNDB Schwab Fndmntl US BRD Mr ETF | 0.09% | 3,029 | $213K | No change |
| IXJ iShares Global Healthcare Et | 0.09% | 2,098 | $206K | No change |
| IOO iShares Global 100 ETF | 0.08% | 1,990 | $197K | Add +8.9% |
| VCIT Vanguard Int-Term Corporate | 0.08% | 2,342 | $196K | No change |
| EMB iShares JP Morgan Usd Emergi | 0.08% | 2,070 | $194K | Add +140.4% |
| VIS Vanguard Industrials ETF | 0.08% | 731 | $190K | No change |
| ADBE Adobe Inc. | 0.08% | 367 | $190K | No change |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.08% | 2,763 | $187K | Add +3.4% |
| VGLT Vanguard Long-Term Treasury | 0.07% | 2,830 | $174K | No change |
| EEM iShares MSCI Emerging Market | 0.07% | 3,601 | $165K | No change |
| XOM Exxon Mobil Corp. | 0.07% | 1,403 | $164K | No change |
| CSCO Cisco Systems Inc. | 0.07% | 2,992 | $159K | No change |
| VCSH Vanguard S/T Corp. Bond ETF | 0.07% | 2,002 | $159K | Add +5.7% |
| WMT Walmart Inc. | 0.07% | 1,946 | $157K | No change |
| VOO Vanguard S&P 500 ETF | 0.06% | 292 | $154K | No change |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.06% | 563 | $149K | Add +30.9% |
| INDY iShares India 50 ETF | 0.06% | 2,565 | $144K | No change |
| SBUX Starbucks Corp. | 0.06% | 1,442 | $141K | Reduce -4.7% |
| AGGY Wisdomtree Yield Enhanced US | 0.06% | 3,128 | $140K | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $30 (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 1 | $30 | 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: $239.5M.
Portfolio Sells Q2 2024 → Q3 2024
| VGSH Vanguard Short-Term Treasury | Reduce -12.6% | 1.59% | −0.32 |
| VYM Vanguard High DVD Yield ETF | Reduce -12.9% | 2.01% | −0.28 |
| SCHO Schwab Short-Term US Treas | Reduce -4.3% | 1.70% | −0.17 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Reduce -1.1% | 1.91% | −0.11 |
| HD Home Depot Inc. | Reduce -62.3% | 0.04% | −0.06 |
| SPAB SS SPDR P Agg Bond ETF | Reduce -3.0% | 1.02% | −0.06 |
| VTIP Vanguard Short-Term Tips | Reduce -3.3% | 0.62% | −0.06 |
| VT Vanguard Tot World STK ETF | Reduce -0.8% | 2.34% | −0.04 |
| SCHP Schwab U.S. Tips ETF | Reduce -1.0% | 0.63% | −0.03 |
| SPTS SS SPDR P St Term TSY ETF | Reduce -0.6% | 0.35% | −0.02 |
| BSV Vanguard Short-Term Bond ETF | Reduce -2.4% | 0.22% | −0.02 |
| STPZ PIMCO 1-5 Year US Tips Index | Reduce -2.4% | 0.19% | −0.01 |
| AAPL Apple Inc. | Reduce -9.7% | 0.18% | −0.01 |
| ETN Eaton Corp. PLC | Reduce -94.0% | 0.00% | −0.01 |
| VGK Vanguard Ftse Europe ETF | Reduce -2.9% | 0.25% | −0.01 |
| CB Chubb Ltd. | Reduce -88.2% | 0.00% | −0.01 |
| JPM JPMorgan Chase & Co. | Reduce -40.1% | 0.01% | −0.01 |
| SPIP SS SPDR P Tips ETF | Sold out | 0.00% | −0.01 |
| VYMI Vanguard Int High DVD YLD Inc. | Reduce -0.8% | 0.88% | −0.01 |
| CME Cme Group Inc. | Sold out | 0.00% | −0.01 |
| TRGP Targa Resources Corp. | Sold out | 0.00% | −0.01 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -6.4% | 0.09% | −0.00 |
| ABBV Abbvie Inc. | Reduce -50.4% | 0.01% | −0.00 |
| APD Air Products & Chemicals Inc. | Sold out | 0.00% | −0.00 |
| JBL Jabil Inc. | Sold out | 0.00% | −0.00 |
| STZ Constellation Brands Inc. Class A | Reduce -70.0% | 0.00% | −0.00 |
| JAAA Janus Henderson Aaa Clo ETF | Sold out | 0.00% | −0.00 |
| DOW Dow Inc. | Sold out | 0.00% | −0.00 |
| NEE Nextera Energy Inc. | Reduce -49.8% | 0.00% | −0.00 |
| FISV Fiserv Inc. | Reduce -68.8% | 0.00% | −0.00 |
| UNP Union Pacific Corp. | Sold out | 0.00% | −0.00 |
| GEM Goldman Sachs Activebeta Em | Reduce -74.1% | 0.00% | −0.00 |
| VZ Verizon Communications Inc. | Reduce -79.0% | 0.00% | −0.00 |
| V Visa Inc. Class A | Reduce -28.9% | 0.01% | −0.00 |
| DVN Devon Energy Corp. | Sold out | 0.00% | −0.00 |
| DIS The Walt Disney Co. | Reduce -43.1% | 0.00% | −0.00 |
| HEES H&E Equipment Services Inc. | Sold out | 0.00% | −0.00 |
| FT Franklin Universal Trust | Sold out | 0.00% | −0.00 |
| SPEM State Street SP PTF Em ETF | Reduce -4.7% | 0.09% | −0.00 |
| CRL Charles River Laboratories | Sold out | 0.00% | −0.00 |
| APTV Aptiv Irish Holdings Ltd. | Reduce -86.7% | 0.00% | −0.00 |
| LHX L3HARRIS Technologies Inc. | Reduce -66.7% | 0.00% | −0.00 |
| NUV Nuveen Municipal Value | Reduce -48.7% | 0.00% | −0.00 |
| TRMB Trimble Inc. | Sold out | 0.00% | −0.00 |
| GNRC Generac Holdings Inc. | Sold out | 0.00% | −0.00 |
| AGG iShares Core U.S. Aggregate | Reduce -1.3% | 0.03% | −0.00 |
| RTX RTX Corp. | Reduce -17.0% | 0.01% | −0.00 |
| OGN Organon & Co. | Sold out | 0.00% | −0.00 |
| VTRS Viatris Inc. | Reduce -48.9% | 0.00% | −0.00 |
| AAXJ iShares MSCI All Country Asi | Reduce -0.6% | 0.22% | +0.00 |
Portfolio Buys Q2 2024 → Q3 2024
| VGIT Vanguard Intermediate-Term T | Add +154.0% | 0.57% | +0.34 |
| VTC Vanguard Total Corporate BND | Add +310.0% | 0.33% | +0.25 |
| EUHY iShares Euro High Yield Corp. | Add +39.9% | 0.66% | +0.19 |
| BIV Vanguard Intermediate-Term B | New | 0.18% | +0.18 |
| BND Vanguard Total Bond Market | Add +6.0% | 5.64% | +0.17 |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | Add +43.7% | 0.50% | +0.14 |
| SPTM SS SPDR P S&P 1500 Comp ETF | Add +7.0% | 2.62% | +0.14 |
| VIG Vanguard Dividend Apprec ETF | Add +4.5% | 2.01% | +0.11 |
| PLTR Palantir Technologies Inc. Class A | Add +6250.0% | 0.10% | +0.10 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Add +4.5% | 1.00% | +0.07 |
| VEU Vanguard Ftse All-World Ex-U | Add +2.2% | 2.67% | +0.06 |
| GII State Street SPDR S&P Global | Add +2.7% | 0.77% | +0.06 |
| SCHZ Schwab US Aggregate Bond ETF | Add +6.0% | 1.82% | +0.06 |
| GSG iShares S&P Gsci Commodity I | Add +51.6% | 0.21% | +0.05 |
| SCHH Schwab US REIT ETF | Add +2.0% | 0.53% | +0.05 |
| VNQI Vanguard GLBL Ex-US Real Est | Add +3.9% | 0.43% | +0.05 |
| EMB iShares JP Morgan Usd Emergi | Add +140.4% | 0.08% | +0.05 |
| VXUS Vanguard Total Intl Stock | Add +0.4% | 6.04% | +0.04 |
| SCHA Schwab US Small-Cap ETF | New | 0.03% | +0.03 |
| MUB iShares National Muni Bond E | Add +17.2% | 0.23% | +0.02 |
| VEA Vanguard Ftse Developed ETF | Add +4.8% | 0.44% | +0.02 |
| VWOB Vanguard Emerg MKTS Gov BND | Add +3.8% | 0.81% | +0.02 |
| IVOG Vanguard S&P Mid-Cap 400 Gro | New | 0.02% | +0.02 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +30.9% | 0.06% | +0.02 |
| XHB SS SPDR S&P Homebldrs ETF | Add +1.8% | 0.09% | +0.01 |
| IAGG iShares Intl Aggregate Bond | Add +4.3% | 1.26% | +0.01 |
| GLD SPDR Gold Shares | Add +1.9% | 0.18% | +0.01 |
| BBEU JPMorgan Betabuilders Europe | Add +5.3% | 0.32% | +0.01 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Add +600.0% | 0.01% | +0.01 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +1.2% | 0.22% | +0.01 |
| DVY iShares Select Dividend ETF | Add +0.5% | 0.12% | +0.01 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Add +630.0% | 0.01% | +0.01 |
| SPDW Ste STR SPDR PT DW Eu ETF | Add +0.4% | 0.99% | +0.00 |
| INTC Intel Corp. | New | 0.00% | +0.00 |
| IOO iShares Global 100 ETF | Add +8.9% | 0.08% | +0.00 |
| SCHF Schwab Intl Equity ETF | Add +0.2% | 2.13% | +0.00 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +3.4% | 0.08% | +0.00 |
| IBIT iShares Bitcoin Trust ETF | Add +44.6% | 0.00% | +0.00 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +5.7% | 0.07% | +0.00 |
| EWT iShares MSCI Taiwan ETF | Add +12.0% | 0.02% | +0.00 |
| IEMG iShares Core MSCI Emerging | New | 0.00% | +0.00 |
| SPMD SS SPDR P S&P 400 Midcap ETF | New | 0.00% | +0.00 |
| SPSM SS SPDR P S&P 600 Small Cap | New | 0.00% | +0.00 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | New | 0.00% | +0.00 |
| XLV SS Health Care Select Sector | Add +1.5% | 0.04% | 0.00 |
| PIT Vaneck Commodity Strat ETF | Add +8.8% | 0.05% | −0.00 |
| SCHX Schwab US Large-Cap ETF | Add +1.3% | 0.71% | −0.00 |
| VOTE TCW Transform 500 ETF | Add +0.9% | 0.31% | −0.00 |
| GOOG Alphabet Inc. Class C | Add +7.0% | 0.09% | −0.01 |
| NVDA Nvidia Corp. | Add +1.6% | 0.26% | −0.02 |
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 |