Breakwater Investment Management
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 16, 2025), Breakwater Investment Management reported 307 stock positions worth $235.2 million. Its top holding was VG Morningstar TS MKT ETF-US (VTI) at 14.8% of the portfolio, followed by Schwab US Broad Market ETF (SCHB, 9.1%) and Vanguard Total Intl Stock (VXUS, 5.9%). Compared with Q3 2024, it opened 9 new positions, sold out of 10, added to 48 and reduced 36. The biggest buy was VG Morningstar TS MKT ETF-US (VTI, shares +2%) and the biggest sale an exit from Perficient (PRFT).
- Most Recent 13F
- Q2 2026
- Location
- SEATTLE, WA
- CIK
- 0002025925
- Portfolio Value
- $235.2M (Q4 2024)
- SEC Filing
- 0002025925-25-000003 ↗ filed Jan 16, 2025
Holdings Value
Holdings 307 stocks · $235.2M
| VTI VG Morningstar TS MKT ETF-US | 14.82% | 120,315 | $34.9M | Add +1.7% |
| SCHB Schwab US Broad Market ETF | 9.12% | 945,384 | $21.5M | Reduce -1.1% |
| VXUS Vanguard Total Intl Stock | 5.90% | 235,531 | $13.9M | Add +5.4% |
| BND Vanguard Total Bond Market | 5.43% | 177,767 | $12.8M | Reduce -1.2% |
| MSFT Microsoft Corp. | 4.93% | 27,541 | $11.6M | Reduce -0.0% |
| BNDX Vanguard Total Intl Bond ETF | 4.87% | 233,365 | $11.4M | Add +3.4% |
| SPTM SS SPDR P S&P 1500 Comp ETF | 3.01% | 99,161 | $7.1M | Add +10.9% |
| VEU Vanguard Ftse All-World Ex-U | 2.35% | 96,403 | $5.5M | Reduce -5.1% |
| VT Vanguard Tot World STK ETF | 2.33% | 46,750 | $5.5M | Add +0.0% |
| VYM Vanguard High DVD Yield ETF | 2.29% | 42,253 | $5.4M | Add +12.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 2.17% | 8,695 | $5.1M | Reduce -1.6% |
| VWO Vanguard Ftse Emerging Marke | 2.06% | 109,942 | $4.8M | Add +1.9% |
| VIG Vanguard Dividend Apprec ETF | 2.02% | 24,272 | $4.8M | Reduce -0.0% |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 1.97% | 13,511 | $4.6M | Reduce -5.0% |
| SCHF Schwab Intl Equity ETF | 1.92% | 243,522 | $4.5M | Reduce -1.7% |
| SCHD Schwab US DVD Equity ETF | 1.87% | 161,099 | $4.4M | Reduce -3.0% |
| MGV Vngrd Mrgstr MG CP VL ETF-Ui | 1.76% | 33,120 | $4.1M | Reduce -2.8% |
| SCHZ Schwab US Aggregate Bond ETF | 1.70% | 176,609 | $4.0M | Reduce -4.0% |
| VGSH Vanguard Short-Term Treasury | 1.55% | 62,541 | $3.6M | Reduce -3.1% |
| SCHO Schwab Short-Term US Treas | 1.35% | 132,221 | $3.2M | Reduce -20.6% |
| IAGG iShares Intl Aggregate Bond | 1.17% | 55,060 | $2.7M | Reduce -5.6% |
| SPAB SS SPDR P Agg Bond ETF | 1.10% | 103,776 | $2.6M | Add +11.0% |
| VYMI Vanguard Int High DVD YLD Inc. | 0.89% | 30,843 | $2.1M | Add +6.9% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 0.88% | 77,935 | $2.1M | Reduce -4.8% |
| VNQ Vanguard Real Estate ETF | 0.86% | 22,653 | $2.0M | Reduce -1.1% |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.82% | 56,332 | $1.9M | Reduce -10.5% |
| GII State Street SPDR S&P Global | 0.80% | 31,641 | $1.9M | Add +5.9% |
| SCHX Schwab US Large-Cap ETF | 0.78% | 79,062 | $1.8M | Add +5.6% |
| VWOB Vanguard Emerg MKTS Gov BND | 0.77% | 28,746 | $1.8M | Reduce -1.6% |
| EUHY iShares Euro High Yield Corp. | 0.69% | 34,296 | $1.6M | Add +13.8% |
| VGIT Vanguard Intermediate-Term T | 0.66% | 26,808 | $1.6M | Add +18.7% |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | 0.63% | 6,934 | $1.5M | Add +19.6% |
| SCHP Schwab U.S. Tips ETF | 0.62% | 56,202 | $1.5M | Add +0.6% |
| VTIP Vanguard Short-Term Tips | 0.58% | 28,036 | $1.4M | Reduce -6.9% |
| AMZN Amazon.com Inc. | 0.56% | 6,014 | $1.3M | No change |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.54% | 3,108 | $1.3M | No change |
| SCHH Schwab US REIT ETF | 0.51% | 57,087 | $1.2M | Add +4.6% |
| STIP iShares 0-5 Year Tips Bond E | 0.51% | 11,893 | $1.2M | Add +12.3% |
| VIGI Vanguard Int Div App Indx FD | 0.50% | 14,788 | $1.2M | Add +0.0% |
| VTC Vanguard Total Corporate BND | 0.48% | 15,046 | $1.1M | Add +48.9% |
| BBEU JPMorgan Betabuilders Europe | 0.46% | 19,672 | $1.1M | Add +61.5% |
| MUB iShares National Muni Bond E | 0.45% | 9,973 | $1.1M | Add +94.5% |
| VEA Vanguard Ftse Developed ETF | 0.39% | 19,413 | $928K | Reduce -3.8% |
| VNQI Vanguard GLBL Ex-US Real Est | 0.39% | 23,356 | $924K | Add +5.5% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.35% | 3,078 | $830K | Add +0.0% |
| GOOGL Alphabet Inc. Class A | 0.34% | 4,271 | $809K | No change |
| VOTE TCW Transform 500 ETF | 0.33% | 11,344 | $780K | Add +3.9% |
| SPTS SS SPDR P St Term TSY ETF | 0.33% | 26,724 | $775K | Reduce -6.8% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.29% | 13,614 | $682K | No change |
| GSG iShares S&P Gsci Commodity I | 0.25% | 26,929 | $586K | Add +14.4% |
| VGK Vanguard Ftse Europe ETF | 0.23% | 8,416 | $534K | No change |
| PLTR Palantir Technologies Inc. Class A | 0.23% | 7,032 | $532K | Add +10.7% |
| XLK SS Technology Select Sector | 0.22% | 2,273 | $528K | No change |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.22% | 3,077 | $521K | Add +1.2% |
| GLD SPDR Gold Shares | 0.22% | 2,142 | $519K | Add +21.2% |
| BSV Vanguard Short-Term Bond ETF | 0.22% | 6,664 | $515K | No change |
| BIV Vanguard Intermediate-Term B | 0.21% | 6,501 | $486K | Add +18.5% |
| AAXJ iShares MSCI All Country Asi | 0.20% | 6,637 | $479K | Reduce -2.3% |
| SPSB SS SPDR P St C Corp. ETF | 0.20% | 15,857 | $473K | No change |
| VCRB Vanguard Core Bond ETF | 0.20% | 6,108 | $463K | New |
| STPZ PIMCO 1-5 Year US Tips Index | 0.19% | 8,739 | $457K | No change |
| AAPL Apple Inc. | 0.17% | 1,566 | $392K | Reduce -14.7% |
| VGT Vanguard Info Tech ETF | 0.16% | 597 | $371K | Reduce -13.2% |
| WOOD iShares Global Timber & Fore | 0.16% | 4,841 | $370K | No change |
| SPBO SS SPDR P Corp. Bond ETF | 0.15% | 12,303 | $352K | Add +7.8% |
| IWM iShares Russell 2000 ETF | 0.14% | 1,504 | $332K | No change |
| IVV iShares Core S&P 500 ETF | 0.11% | 449 | $264K | No change |
| VCSH Vanguard S/T Corp. Bond ETF | 0.11% | 3,346 | $261K | Add +67.1% |
| VCIT Vanguard Int-Term Corporate | 0.11% | 3,199 | $257K | Add +36.6% |
| META Meta Platforms Inc. Class A | 0.10% | 421 | $247K | No change |
| MRK Merck & Co. Inc. | 0.10% | 2,461 | $245K | No change |
| GOOG Alphabet Inc. Class C | 0.10% | 1,284 | $245K | No change |
| ISRG Intuitive Surgical Inc. | 0.10% | 451 | $235K | No change |
| VB Vanguard Most SM-Cap ETF-Usd | 0.10% | 951 | $229K | No change |
| PRF Invesco Rafi US 1000 ETF | 0.10% | 5,600 | $226K | No change |
| VPL Vanguard Ftse Pacific ETF | 0.10% | 3,157 | $224K | No change |
| KO The Coca-Cola Co. | 0.09% | 3,536 | $220K | No change |
| MDY State Street SPDR S&P Midcap | 0.09% | 380 | $216K | No change |
| FNDB Schwab Fndmntl US BRD Mr ETF | 0.09% | 9,087 | $211K | No change |
| DVY iShares Select Dividend ETF | 0.09% | 1,558 | $205K | Reduce -25.2% |
| EMB iShares JP Morgan Usd Emergi | 0.09% | 2,268 | $202K | Add +9.6% |
| IOO iShares Global 100 ETF | 0.09% | 1,990 | $201K | No change |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.08% | 2,887 | $199K | Add +4.5% |
| GEV GE Vernova Inc. | 0.08% | 600 | $197K | New |
| SPEM State Street SP PTF Em ETF | 0.08% | 4,883 | $187K | Reduce -8.8% |
| TMO Thermo Fisher Scientific Inc. | 0.08% | 358 | $186K | No change |
| VIS Vanguard Industrials ETF | 0.08% | 731 | $186K | No change |
| SCHA Schwab US Small-Cap ETF | 0.08% | 7,094 | $183K | Add +124.6% |
| XHB SS SPDR S&P Homebldrs ETF | 0.08% | 1,751 | $183K | No change |
| CSCO Cisco Systems Inc. | 0.08% | 2,992 | $177K | No change |
| WMT Walmart Inc. | 0.07% | 1,946 | $176K | No change |
| OMER Omeros Corp. | 0.07% | 17,048 | $168K | No change |
| IXJ iShares Global Healthcare Et | 0.07% | 1,948 | $167K | Reduce -7.2% |
| GRMN Garmin Ltd. | 0.07% | 790 | $163K | No change |
| VGLT Vanguard Long-Term Treasury | 0.07% | 2,830 | $157K | No change |
| NVDA Nvidia Corp. | 0.06% | 1,130 | $152K | Reduce -78.0% |
| XOM Exxon Mobil Corp. | 0.06% | 1,403 | $151K | No change |
| EEM iShares MSCI Emerging Market | 0.06% | 3,601 | $151K | No change |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.06% | 563 | $149K | No change |
| AMP Ameriprise Financial Inc. | 0.06% | 261 | $139K | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $28 (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 1 | $28 | No change |
Lines left out (1) · $7 — a value with no share or principal amount
| Security | Class | Shares | Value |
|---|---|---|---|
| LUV Southwest Airlines Co. | COM | 0 | $7 |
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: $235.2M.
Portfolio Sells Q3 2024 → Q4 2024
| PRFT Perficient Inc. | Sold out | 0.00% | −1.24 |
| SCHO Schwab Short-Term US Treas | Reduce -20.6% | 1.35% | −0.35 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -5.1% | 2.35% | −0.32 |
| SCHF Schwab Intl Equity ETF | Reduce -1.7% | 1.92% | −0.21 |
| BND Vanguard Total Bond Market | Reduce -1.2% | 5.43% | −0.21 |
| NVDA Nvidia Corp. | Reduce -78.0% | 0.06% | −0.20 |
| SPDW Ste STR SPDR PT DW Eu ETF | Reduce -10.5% | 0.82% | −0.17 |
| SCHZ Schwab US Aggregate Bond ETF | Reduce -4.0% | 1.70% | −0.12 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Reduce -4.8% | 0.88% | −0.11 |
| IAGG iShares Intl Aggregate Bond | Reduce -5.6% | 1.17% | −0.09 |
| SCHD Schwab US DVD Equity ETF | Reduce -3.0% | 1.87% | −0.08 |
| VNQ Vanguard Real Estate ETF | Reduce -1.1% | 0.86% | −0.07 |
| MGV Vngrd Mrgstr MG CP VL ETF-Ui | Reduce -2.8% | 1.76% | −0.07 |
| VEA Vanguard Ftse Developed ETF | Reduce -3.8% | 0.39% | −0.05 |
| VGSH Vanguard Short-Term Treasury | Reduce -3.1% | 1.55% | −0.04 |
| VTIP Vanguard Short-Term Tips | Reduce -6.9% | 0.58% | −0.04 |
| VWOB Vanguard Emerg MKTS Gov BND | Reduce -1.6% | 0.77% | −0.04 |
| DVY iShares Select Dividend ETF | Reduce -25.2% | 0.09% | −0.03 |
| ADBE Adobe Inc. | Reduce -24.3% | 0.05% | −0.03 |
| SPTS SS SPDR P St Term TSY ETF | Reduce -6.8% | 0.33% | −0.02 |
| IWF iShares Russell 1000 Growth | Sold out | 0.00% | −0.02 |
| AAXJ iShares MSCI All Country Asi | Reduce -2.3% | 0.20% | −0.02 |
| IVW iShares S&P 500 Growth ETF | Sold out | 0.00% | −0.02 |
| MDT Medtronic PLC | Sold out | 0.00% | −0.01 |
| IXJ iShares Global Healthcare Et | Reduce -7.2% | 0.07% | −0.01 |
| MSFT Microsoft Corp. | Reduce -0.0% | 4.93% | −0.01 |
| VOO Vanguard S&P 500 ETF | Reduce -22.9% | 0.05% | −0.01 |
| SPEM State Street SP PTF Em ETF | Reduce -8.8% | 0.08% | −0.01 |
| AAPL Apple Inc. | Reduce -14.7% | 0.17% | −0.01 |
| VGT Vanguard Info Tech ETF | Reduce -13.2% | 0.16% | −0.01 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -23.5% | 0.05% | −0.01 |
| WIP State Street SPDR Ftse Inter | Reduce -98.9% | 0.00% | −0.01 |
| PBW Invesco Wilderhill Clean Ene | Reduce -62.2% | 0.00% | −0.00 |
| SBUX Starbucks Corp. | Reduce -1.8% | 0.05% | −0.00 |
| INTC Intel Corp. | Sold out | 0.00% | −0.00 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Sold out | 0.00% | −0.00 |
| AGGY Wisdomtree Yield Enhanced US | Reduce -2.1% | 0.06% | −0.00 |
| IGSB iShares 1-5Y Inv Grade Corp. | Sold out | 0.00% | −0.00 |
| NUV Nuveen Municipal Value | Sold out | 0.00% | −0.00 |
| BB Blackberry Ltd. | Sold out | 0.00% | −0.00 |
| TDC Teradata Corp. | Sold out | 0.00% | 0.00 |
| DIS The Walt Disney Co. | Reduce -10.6% | 0.00% | +0.00 |
| VIG Vanguard Dividend Apprec ETF | Reduce -0.0% | 2.02% | +0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -1.6% | 2.17% | +0.05 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Reduce -5.0% | 1.97% | +0.06 |
| SCHB Schwab US Broad Market ETF | Reduce -1.1% | 9.12% | +0.28 |
Portfolio Buys Q3 2024 → Q4 2024
| VTI VG Morningstar TS MKT ETF-US | Add +1.7% | 14.82% | +0.84 |
| SPTM SS SPDR P S&P 1500 Comp ETF | Add +10.9% | 3.01% | +0.40 |
| VYM Vanguard High DVD Yield ETF | Add +12.5% | 2.29% | +0.28 |
| MUB iShares National Muni Bond E | Add +94.5% | 0.45% | +0.22 |
| VCRB Vanguard Core Bond ETF | New | 0.20% | +0.20 |
| VTC Vanguard Total Corporate BND | Add +48.9% | 0.48% | +0.15 |
| BBEU JPMorgan Betabuilders Europe | Add +61.5% | 0.46% | +0.15 |
| PLTR Palantir Technologies Inc. Class A | Add +10.7% | 0.23% | +0.13 |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | Add +19.6% | 0.63% | +0.13 |
| BNDX Vanguard Total Intl Bond ETF | Add +3.4% | 4.87% | +0.13 |
| VGIT Vanguard Intermediate-Term T | Add +18.7% | 0.66% | +0.09 |
| GEV GE Vernova Inc. | New | 0.08% | +0.08 |
| SPAB SS SPDR P Agg Bond ETF | Add +11.0% | 1.10% | +0.08 |
| SCHX Schwab US Large-Cap ETF | Add +5.6% | 0.78% | +0.07 |
| STIP iShares 0-5 Year Tips Bond E | Add +12.3% | 0.51% | +0.06 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +67.1% | 0.11% | +0.04 |
| SCHA Schwab US Small-Cap ETF | Add +124.6% | 0.08% | +0.04 |
| GSG iShares S&P Gsci Commodity I | Add +14.4% | 0.25% | +0.04 |
| GLD SPDR Gold Shares | Add +21.2% | 0.22% | +0.04 |
| VCIT Vanguard Int-Term Corporate | Add +36.6% | 0.11% | +0.03 |
| BIV Vanguard Intermediate-Term B | Add +18.5% | 0.21% | +0.03 |
| GII State Street SPDR S&P Global | Add +5.9% | 0.80% | +0.03 |
| EUHY iShares Euro High Yield Corp. | Add +13.8% | 0.69% | +0.03 |
| VOTE TCW Transform 500 ETF | Add +3.9% | 0.33% | +0.03 |
| ITOT iShares Core S&P Total U.S. | New | 0.02% | +0.02 |
| DGRW Wisdomtree U.S. Quality Divi | Add +89.8% | 0.05% | +0.02 |
| IEFA iShares Core MSCI Eafe ETF | New | 0.02% | +0.02 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Add +0.0% | 0.35% | +0.01 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Add +112.5% | 0.03% | +0.01 |
| BWX SS SPDR BB Intl Treasury BD | Add +47.5% | 0.03% | +0.01 |
| SPBO SS SPDR P Corp. Bond ETF | Add +7.8% | 0.15% | +0.01 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +4.5% | 0.08% | +0.01 |
| VYMI Vanguard Int High DVD YLD Inc. | Add +6.9% | 0.89% | +0.01 |
| IEMG iShares Core MSCI Emerging | Add +869.0% | 0.01% | +0.01 |
| EMB iShares JP Morgan Usd Emergi | Add +9.6% | 0.09% | +0.01 |
| SPTI SS SPDR P Int Term TSY ETF | New | 0.00% | +0.00 |
| RSP Invesco S&P 500 Equal Weight | Add +11.0% | 0.04% | +0.00 |
| IWS iShares Russell Mid-Cap Valu | New | 0.00% | +0.00 |
| DWMF Wisdomtree International Mul | New | 0.00% | +0.00 |
| IWN iShares Russell 2000 Value E | New | 0.00% | +0.00 |
| SCHG Schwab US Large-Cap Growth | Add +142.3% | 0.00% | +0.00 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Add +28.6% | 0.01% | +0.00 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Add +28.8% | 0.01% | +0.00 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Add +462.5% | 0.00% | +0.00 |
| REET iShares Global REIT ETF | Add +12.1% | 0.05% | +0.00 |
| SPSM SS SPDR P S&P 600 Small Cap | Add +466.7% | 0.00% | +0.00 |
| SPYV SS SPDR P S&P 500 Value ETF | New | 0.00% | +0.00 |
| AGG iShares Core U.S. Aggregate | Add +2.1% | 0.03% | −0.00 |
| SCYB Schwab High Yield Bond ETF | Add +100.0% | 0.04% | −0.00 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +1.2% | 0.22% | −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 |