Breakwater Investment Management
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Breakwater Investment Management reported 505 stock positions worth $268.9 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, 8.0%) and Vanguard Total Intl Stock (VXUS, 6.6%). Compared with Q4 2025, it opened 77 new positions, sold out of 69, added to 59 and reduced 84. The biggest buy was SS SPDR BB Em Usd Bond ETF (EMHC, shares +1489%) and the biggest sale Microsoft (MSFT, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- SEATTLE, WA
- CIK
- 0002025925
- Portfolio Value
- $268.9M (Q1 2026)
- SEC Filing
- 0002025925-26-000004 ↗ filed May 15, 2026
Holdings Value
Holdings 505 stocks · $268.9M
| VTI VG Morningstar TS MKT ETF-US | 14.01% | 117,486 | $37.7M | Reduce -2.4% |
| SCHB Schwab US Broad Market ETF | 8.01% | 858,181 | $21.5M | Reduce -1.6% |
| VXUS Vanguard Total Intl Stock | 6.59% | 229,707 | $17.7M | Reduce -2.5% |
| BND Vanguard Total Bond Market | 3.84% | 140,199 | $10.3M | Reduce -8.0% |
| MSFT Microsoft Corp. | 3.44% | 24,974 | $9.2M | Reduce -1.2% |
| BNDX Vanguard Total Intl Bond ETF | 3.43% | 192,129 | $9.2M | Reduce -19.5% |
| SPTM SS SPDR P S&P 1500 Comp ETF | 2.73% | 92,755 | $7.3M | Add +1.9% |
| VEU Vanguard Ftse All-World Ex-U | 2.63% | 94,192 | $7.1M | Add +0.7% |
| VCRB Vanguard Core Bond ETF | 2.45% | 85,096 | $6.6M | Add +0.9% |
| SCCR Schwab Core Bond ETF | 2.30% | 241,006 | $6.2M | Add +20.7% |
| VT Vanguard Tot World STK ETF | 2.19% | 42,547 | $5.9M | Reduce -0.4% |
| VYM Vanguard High DVD Yield ETF | 2.13% | 38,648 | $5.7M | Reduce -2.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 2.09% | 8,654 | $5.6M | Add +0.3% |
| VWO Vanguard Ftse Emerging Marke | 2.09% | 103,851 | $5.6M | Reduce -1.4% |
| IAGG iShares Intl Aggregate Bond | 1.99% | 107,033 | $5.4M | Add +18.7% |
| SCHF Schwab Intl Equity ETF | 1.95% | 212,433 | $5.3M | Reduce -1.8% |
| VIG Vanguard Dividend Apprec ETF | 1.89% | 23,619 | $5.1M | Reduce -2.3% |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 1.66% | 12,122 | $4.5M | Reduce -0.9% |
| SCHD Schwab US DVD Equity ETF | 1.65% | 144,304 | $4.4M | Reduce -1.5% |
| MGV Vngrd Mrgstr MG CP VL ETF-Ui | 1.63% | 30,151 | $4.4M | Reduce -2.8% |
| AMZN Amazon.com Inc. | 1.60% | 20,711 | $4.3M | Reduce -2.5% |
| VGSH Vanguard Short-Term Treasury | 1.43% | 65,766 | $3.8M | Reduce -1.4% |
| VYMI Vanguard Int High DVD YLD Inc. | 1.24% | 35,491 | $3.3M | Reduce -0.1% |
| SCHZ Schwab US Aggregate Bond ETF | 1.19% | 138,219 | $3.2M | Reduce -5.5% |
| SCHO Schwab Short-Term US Treas | 1.04% | 115,683 | $2.8M | Reduce -1.7% |
| SPDW Ste STR SPDR PT DW Eu ETF | 1.01% | 59,550 | $2.7M | Reduce -0.4% |
| SPAB SS SPDR P Agg Bond ETF | 0.92% | 96,049 | $2.5M | Add +45.0% |
| GII State Street SPDR S&P Global | 0.87% | 30,607 | $2.3M | Reduce -0.3% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 0.78% | 63,897 | $2.1M | Reduce -10.7% |
| VWOB Vanguard Emerg MKTS Gov BND | 0.73% | 29,691 | $2.0M | Reduce -0.6% |
| SCHP Schwab U.S. Tips ETF | 0.72% | 72,575 | $1.9M | Reduce -0.1% |
| SCMB Schwab Municipal Bond ETF | 0.70% | 73,509 | $1.9M | Add +7.9% |
| EMHC SS SPDR BB Em Usd Bond ETF | 0.66% | 71,769 | $1.8M | Add +1489.2% |
| VNQ Vanguard Real Estate ETF | 0.59% | 18,014 | $1.6M | Reduce -11.7% |
| VGK Vanguard Ftse Europe ETF | 0.57% | 18,538 | $1.5M | Add +1.0% |
| EUHY iShares Euro High Yield Corp. | 0.54% | 27,896 | $1.5M | Reduce -5.9% |
| VTIP Vanguard Short-Term Tips | 0.54% | 28,816 | $1.4M | Reduce -1.7% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.51% | 27,617 | $1.4M | Add +21.8% |
| SCHX Schwab US Large-Cap ETF | 0.51% | 53,631 | $1.4M | Reduce -4.0% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.51% | 3,147 | $1.4M | Reduce -4.2% |
| SCHH Schwab US REIT ETF | 0.49% | 61,899 | $1.3M | Add +3.3% |
| VIGI Vanguard Int Div App Indx FD | 0.49% | 14,788 | $1.3M | No change |
| GLD SPDR Gold Shares | 0.48% | 3,031 | $1.3M | No change |
| BBEU JPMorgan Betabuilders Europe | 0.48% | 17,718 | $1.3M | Reduce -19.5% |
| VEA Vanguard Ftse Developed ETF | 0.47% | 19,745 | $1.3M | Reduce -0.0% |
| STIP iShares 0-5 Year Tips Bond E | 0.46% | 12,010 | $1.2M | Add +0.1% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.46% | 6,272 | $1.2M | Add +4.3% |
| VGIT Vanguard Intermediate-Term T | 0.45% | 20,334 | $1.2M | No change |
| GOOGL Alphabet Inc. Class A | 0.45% | 4,202 | $1.2M | No change |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | 0.43% | 4,905 | $1.2M | Reduce -15.6% |
| VNQI Vanguard GLBL Ex-US Real Est | 0.41% | 25,001 | $1.1M | Add +0.3% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.36% | 3,280 | $980K | No change |
| EBND State Street SPDR Bloomberg | 0.36% | 46,972 | $970K | Add +756.4% |
| VTC Vanguard Total Corporate BND | 0.36% | 12,544 | $964K | Reduce -1.9% |
| SPTS SS SPDR P St Term TSY ETF | 0.33% | 30,007 | $876K | Add +11.1% |
| VOTE TCW Transform 500 ETF | 0.32% | 11,396 | $870K | No change |
| PIT Vaneck Commodity Strat ETF | 0.31% | 11,623 | $841K | Reduce -4.9% |
| MUB iShares National Muni Bond E | 0.24% | 6,098 | $647K | Reduce -26.4% |
| BSV Vanguard Short-Term Bond ETF | 0.19% | 6,664 | $523K | No change |
| BIV Vanguard Intermediate-Term B | 0.19% | 6,501 | $502K | No change |
| JIVE JPM Interntl Value ETF filed as J P MORGAN EXCHANGE TRADED F | 0.18% | 5,730 | $491K | Add +6.3% |
| SPSB SS SPDR P St C Corp. ETF | 0.18% | 15,857 | $477K | No change |
| AAXJ iShares MSCI All Country Asi | 0.17% | 4,761 | $458K | No change |
| STPZ PIMCO 1-5 Year US Tips Index | 0.16% | 8,159 | $441K | Reduce -0.7% |
| SPEM State Street SP PTF Em ETF | 0.16% | 9,199 | $432K | Add +78.1% |
| VGT Vanguard Info Tech ETF | 0.15% | 597 | $417K | No change |
| SPBO SS SPDR P Corp. Bond ETF | 0.15% | 13,966 | $405K | Add +13.3% |
| AAPL Apple Inc. | 0.15% | 1,584 | $402K | No change |
| IWM iShares Russell 2000 ETF | 0.14% | 1,504 | $373K | No change |
| GOOG Alphabet Inc. Class C | 0.13% | 1,232 | $353K | No change |
| WOOD iShares Global Timber & Fore | 0.12% | 4,467 | $317K | Reduce -6.8% |
| PLTR Palantir Technologies Inc. Class A | 0.11% | 2,084 | $305K | Reduce -0.4% |
| EMB iShares JP Morgan Usd Emergi | 0.11% | 3,182 | $299K | No change |
| IVV iShares Core S&P 500 ETF | 0.11% | 449 | $293K | No change |
| DGRW Wisdomtree U.S. Quality Divi | 0.10% | 3,162 | $278K | No change |
| GSG iShares S&P Gsci Commodity I | 0.10% | 8,457 | $273K | No change |
| PRF Invesco Rafi US 1000 ETF | 0.10% | 5,600 | $266K | No change |
| WMT Walmart Inc. | 0.09% | 1,961 | $244K | No change |
| FNDB Schwab Fndmntl US BRD Mr ETF | 0.09% | 8,943 | $243K | No change |
| XOM Exxon Mobil Corp. | 0.09% | 1,423 | $241K | Reduce -2.7% |
| IOO iShares Global 100 ETF | 0.09% | 1,990 | $241K | No change |
| DVY iShares Select Dividend ETF | 0.09% | 1,548 | $234K | No change |
| VIS Vanguard Industrials ETF | 0.08% | 731 | $228K | No change |
| PRIV SS Ig Publ Priv Cred ETF-Usd | 0.08% | 8,834 | $223K | Add +1612.0% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.08% | 2,887 | $221K | No change |
| HYBL SS Blackstone High Inc. ETF | 0.08% | 7,790 | $217K | Add +1020.9% |
| MDY State Street SPDR S&P Midcap | 0.08% | 349 | $215K | Reduce -8.2% |
| ISRG Intuitive Surgical Inc. | 0.08% | 452 | $208K | Add +0.2% |
| VPL Vanguard Ftse Pacific ETF | 0.08% | 2,099 | $205K | No change |
| NVDA Nvidia Corp. | 0.08% | 1,173 | $205K | Reduce -6.5% |
| ALLW State Street Brgwtr All WTHR | 0.08% | 7,019 | $202K | Add +444.1% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.07% | 758 | $199K | No change |
| EEM iShares MSCI Emerging Market | 0.07% | 3,394 | $193K | Add +3.7% |
| SCHC Schwab Intl Small-Cap Equity | 0.07% | 4,095 | $191K | Add +472.7% |
| RLY SS Multi-Asset Real Ret ETF | 0.07% | 5,268 | $190K | Add +748.3% |
| GRMN Garmin Ltd. | 0.07% | 792 | $184K | Add +0.3% |
| OMER Omeros Corp. | 0.07% | 17,048 | $180K | No change |
| VCIT Vanguard Int-Term Corporate | 0.07% | 2,155 | $178K | Reduce -5.0% |
| TMO Thermo Fisher Scientific Inc. | 0.07% | 357 | $175K | Reduce -0.6% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.06% | 2,148 | $170K | Reduce -19.1% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $43 (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 1 | $43 | No change |
Total filed on the 13F, all lines: $268.9M.
Portfolio Sells Q4 2025 → Q1 2026
| MSFT Microsoft Corp. | Reduce -1.2% | 3.44% | −0.98 |
| BNDX Vanguard Total Intl Bond ETF | Reduce -19.5% | 3.43% | −0.74 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -2.4% | 14.01% | −0.59 |
| SCHB Schwab US Broad Market ETF | Reduce -1.6% | 8.01% | −0.27 |
| BND Vanguard Total Bond Market | Reduce -8.0% | 3.84% | −0.25 |
| XLK SS Technology Select Sector | Sold out | 0.00% | −0.24 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Reduce -0.9% | 1.66% | −0.17 |
| AMZN Amazon.com Inc. | Reduce -2.5% | 1.60% | −0.17 |
| BBEU JPMorgan Betabuilders Europe | Reduce -19.5% | 0.48% | −0.11 |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | Reduce -15.6% | 0.43% | −0.10 |
| MUB iShares National Muni Bond E | Reduce -26.4% | 0.24% | −0.08 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -4.2% | 0.51% | −0.07 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Reduce -10.7% | 0.78% | −0.06 |
| VNQ Vanguard Real Estate ETF | Reduce -11.7% | 0.59% | −0.06 |
| META Meta Platforms Inc. Class A | Reduce -45.8% | 0.05% | −0.05 |
| SCHZ Schwab US Aggregate Bond ETF | Reduce -5.5% | 1.19% | −0.04 |
| SCHX Schwab US Large-Cap ETF | Reduce -4.0% | 0.51% | −0.03 |
| VIG Vanguard Dividend Apprec ETF | Reduce -2.3% | 1.89% | −0.03 |
| EUHY iShares Euro High Yield Corp. | Reduce -5.9% | 0.54% | −0.03 |
| PLTR Palantir Technologies Inc. Class A | Reduce -0.4% | 0.11% | −0.02 |
| CSCO Cisco Systems Inc. | Reduce -41.2% | 0.03% | −0.02 |
| IXJ iShares Global Healthcare Et | Reduce -29.9% | 0.04% | −0.02 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -19.1% | 0.06% | −0.01 |
| TMO Thermo Fisher Scientific Inc. | Reduce -0.6% | 0.07% | −0.01 |
| NVDA Nvidia Corp. | Reduce -6.5% | 0.08% | −0.01 |
| BWX SS SPDR BB Intl Treasury BD | Reduce -20.6% | 0.03% | −0.01 |
| WOOD iShares Global Timber & Fore | Reduce -6.8% | 0.12% | −0.01 |
| DHR Danaher Corp. | Reduce -10.2% | 0.02% | −0.01 |
| V Visa Inc. Class A | Reduce -83.0% | 0.00% | −0.01 |
| JPM JPMorgan Chase & Co. | Reduce -32.4% | 0.01% | −0.01 |
| ACN Accenture PLC Class A | Reduce -0.4% | 0.02% | −0.01 |
| BAC Bank of America Corp. | Reduce -1.6% | 0.04% | −0.01 |
| REET iShares Global REIT ETF | Reduce -14.2% | 0.04% | −0.00 |
| MRK Merck & Co. Inc. | Reduce -91.7% | 0.00% | −0.00 |
| FXI iShares China Large-Cap ETF | Reduce -30.1% | 0.01% | −0.00 |
| VWOB Vanguard Emerg MKTS Gov BND | Reduce -0.6% | 0.73% | −0.00 |
| MDY State Street SPDR S&P Midcap | Reduce -8.2% | 0.08% | −0.00 |
| AVGO Broadcom Inc. | Reduce -4.5% | 0.02% | −0.00 |
| VCIT Vanguard Int-Term Corporate | Reduce -5.0% | 0.07% | −0.00 |
| CMCSA Comcast Corp. Class A | Reduce -71.8% | 0.00% | −0.00 |
| IEMG iShares Core MSCI Emerging | Reduce -38.3% | 0.00% | −0.00 |
| VTEC Vanguard Ca Tax-Ex Bond | Reduce -7.2% | 0.03% | −0.00 |
| ABBV Abbvie Inc. | Reduce -16.0% | 0.01% | −0.00 |
| LHX L3HARRIS Technologies Inc. | Sold out | 0.00% | −0.00 |
| CB Chubb Ltd. | Reduce -71.4% | 0.00% | −0.00 |
| VLTO Veralto Corp. | Reduce -17.7% | 0.00% | −0.00 |
| VTC Vanguard Total Corporate BND | Reduce -1.9% | 0.36% | −0.00 |
| CAT Caterpillar Inc. | Reduce -31.3% | 0.01% | −0.00 |
| STZ Constellation Brands Inc. Class A | Reduce -79.0% | 0.00% | −0.00 |
| COST Costco Wholesale Corp. | Reduce -18.1% | 0.03% | −0.00 |
Portfolio Buys Q4 2025 → Q1 2026
| EMHC SS SPDR BB Em Usd Bond ETF | Add +1489.2% | 0.66% | +0.62 |
| SCCR Schwab Core Bond ETF | Add +20.7% | 2.30% | +0.44 |
| IAGG iShares Intl Aggregate Bond | Add +18.7% | 1.99% | +0.36 |
| EBND State Street SPDR Bloomberg | Add +756.4% | 0.36% | +0.32 |
| SPAB SS SPDR P Agg Bond ETF | Add +45.0% | 0.92% | +0.30 |
| VEU Vanguard Ftse All-World Ex-U | Add +0.7% | 2.63% | +0.14 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +21.8% | 0.51% | +0.10 |
| PRIV SS Ig Publ Priv Cred ETF-Usd | Add +1612.0% | 0.08% | +0.08 |
| HYBL SS Blackstone High Inc. ETF | Add +1020.9% | 0.08% | +0.07 |
| SPEM State Street SP PTF Em ETF | Add +78.1% | 0.16% | +0.07 |
| VCRB Vanguard Core Bond ETF | Add +0.9% | 2.45% | +0.07 |
| RLY SS Multi-Asset Real Ret ETF | Add +748.3% | 0.07% | +0.06 |
| ALLW State Street Brgwtr All WTHR | Add +444.1% | 0.08% | +0.06 |
| SCMB Schwab Municipal Bond ETF | Add +7.9% | 0.70% | +0.06 |
| SCHC Schwab Intl Small-Cap Equity | Add +472.7% | 0.07% | +0.06 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +4.3% | 0.46% | +0.04 |
| SCHH Schwab US REIT ETF | Add +3.3% | 0.49% | +0.04 |
| SPTS SS SPDR P St Term TSY ETF | Add +11.1% | 0.33% | +0.04 |
| VIOO Vanguard S&P Small-Cap 600 E | Add +1032.9% | 0.04% | +0.03 |
| EWY iShares MSCI South Korea ETF | Add +51.8% | 0.05% | +0.03 |
| JIVE JPM Interntl Value ETF | Add +6.3% | 0.18% | +0.03 |
| SPBO SS SPDR P Corp. Bond ETF | Add +13.3% | 0.15% | +0.02 |
| GOVT iShares US Treasury Bond ETF | Add +605.0% | 0.02% | +0.02 |
| STIP iShares 0-5 Year Tips Bond E | Add +0.1% | 0.46% | +0.02 |
| VGK Vanguard Ftse Europe ETF | Add +1.0% | 0.57% | +0.01 |
| CVX Chevron Corp. | Add +1.3% | 0.04% | +0.01 |
| GRMN Garmin Ltd. | Add +0.3% | 0.07% | +0.01 |
| SPTM SS SPDR P S&P 1500 Comp ETF | Add +1.9% | 2.73% | +0.01 |
| MS Morgan Stanley | Add +376.5% | 0.01% | +0.01 |
| EEM iShares MSCI Emerging Market | Add +3.7% | 0.07% | +0.01 |
| SBUX Starbucks Corp. | Add +5.3% | 0.05% | +0.01 |
| BG Bunge Global SA | New | 0.01% | +0.01 |
| BP BP PLC-Spons ADR | New | 0.01% | +0.01 |
| QCOM Qualcomm Inc. | Add +3366.7% | 0.01% | +0.00 |
| BHP BHP Group Ltd.-Spon ADR | Add +78.1% | 0.01% | +0.00 |
| EXPE Expedia Group Inc. | Add +2400.0% | 0.00% | +0.00 |
| PEP Pepsico Inc. | Add +52.0% | 0.01% | +0.00 |
| ETN Eaton Corp. PLC | Add +650.0% | 0.00% | +0.00 |
| ENB Enbridge Inc. | New | 0.00% | +0.00 |
| IWO iShares Russell 2000 Growth | New | 0.00% | +0.00 |
| DOW Dow Inc. | New | 0.00% | +0.00 |
| CRM Salesforce Inc. | Add +500.0% | 0.00% | +0.00 |
| SUSL iShares ESG MSCI USA Leaders | New | 0.00% | +0.00 |
| ECL Ecolab Inc. | Add +0.9% | 0.02% | +0.00 |
| NFLX Netflix Inc. | New | 0.00% | +0.00 |
| DEO Diageo PLC-Sponsored ADR | New | 0.00% | +0.00 |
| DWMF Wisdomtree International Mul | Add +2.6% | 0.01% | +0.00 |
| DIS The Walt Disney Co. | Add +41.2% | 0.00% | +0.00 |
| BLK BlackRock Inc. | New | 0.00% | +0.00 |
| DUK Duke Energy Corp. | 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 |