Breakwater Investment Management Q2 2025 Filing

Filed July 9, 2025

Portfolio Value

$258.5M

Holdings

310

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (310 positions)

#	Stock	Shares	Value	% Portfolio
1	VTIVANGUARD INDEX FDS	120,263	$36.6M	14.14%
2	SCHBSCHWAB STRATEGIC TR	936,063	$22.3M	8.63%
3	VXUSVANGUARD STAR FDS	239,102	$16.5M	6.39%
4	MSFTMICROSOFT CORP	27,565	$13.7M	5.30%
5	BNDVANGUARD BD INDEX FDS	156,637	$11.5M	4.46%
6	BNDXVANGUARD CHARLOTTE FDS	232,895	$11.5M	4.46%
7	SPTMSPDR SERIES TRUST	94,513	$7.1M	2.74%
8	VEUVANGUARD INTL EQUITY INDEX F	96,482	$6.5M	2.51%
9	VCRBVANGUARD MALVERN FDS	82,930	$6.4M	2.49%
10	VTVANGUARD INTL EQUITY INDEX F	44,612	$5.7M	2.22%
11	VYMVANGUARD WHITEHALL FDS	42,356	$5.6M	2.18%
12	VWOVANGUARD INTL EQUITY INDEX F	109,579	$5.4M	2.10%
13	SPYSPDR S&P 500 ETF TR	8,665	$5.4M	2.07%
14	SCHFSCHWAB STRATEGIC TR	227,913	$5.0M	1.95%
15	VIGVANGUARD SPECIALIZED FUNDS	24,480	$5.0M	1.94%
16	AMZNAMAZON COM INC	21,178	$4.6M	1.80%
17	MGKVANGUARD WORLD FD	12,669	$4.6M	1.79%
18	MGVVANGUARD WORLD FD	32,212	$4.2M	1.64%
19	SCHDSCHWAB STRATEGIC TR	147,265	$3.9M	1.51%
20	SCHZSCHWAB STRATEGIC TR	165,106	$3.8M	1.48%
21	VGSHVANGUARD SCOTTSDALE FDS	60,904	$3.6M	1.38%
22	IAGGISHARES TR	67,161	$3.4M	1.33%
23	SCHOSCHWAB STRATEGIC TR	125,866	$3.1M	1.19%
24	VYMIVANGUARD WHITEHALL FDS	32,855	$2.6M	1.02%
25	SPDWSPDR INDEX SHS FDS	60,756	$2.5M	0.95%
26	SCHESCHWAB STRATEGIC TR	77,522	$2.3M	0.90%
27	GIISPDR INDEX SHS FDS	31,649	$2.1M	0.82%
28	SCHPSCHWAB STRATEGIC TR	76,773	$2.0M	0.79%
29	VNQVANGUARD INDEX FDS	22,666	$2.0M	0.78%
30	VWOBVANGUARD WHITEHALL FDS	29,090	$1.9M	0.74%
31	EUHYISHARES INC	31,841	$1.7M	0.68%
32	SPABSPDR SERIES TRUST	62,739	$1.6M	0.62%
33	SCHXSCHWAB STRATEGIC TR	60,321	$1.5M	0.57%
34	MGCVANGUARD WORLD FD	6,456	$1.5M	0.56%
35	VTIPVANGUARD MALVERN FDS	28,738	$1.4M	0.56%
36	VUGVANGUARD INDEX FDS	3,284	$1.4M	0.56%
37	VIGIVANGUARD WHITEHALL FDS	14,788	$1.3M	0.52%
38	BBEUJ P MORGAN EXCHANGE TRADED F	19,710	$1.3M	0.51%
39	STIPISHARES TR	12,003	$1.2M	0.48%
40	VGITVANGUARD SCOTTSDALE FDS	20,403	$1.2M	0.47%
41	VGKVANGUARD INTL EQUITY INDEX F	15,715	$1.2M	0.47%
42	SCHHSCHWAB STRATEGIC TR	57,358	$1.2M	0.47%
43	VNQIVANGUARD INTL EQUITY INDEX F	24,813	$1.1M	0.44%
44	VEAVANGUARD TAX-MANAGED FDS	19,899	$1.1M	0.44%
45	MUBISHARES TR	10,807	$1.1M	0.44%
46	VTCVANGUARD SCOTTSDALE FDS	14,400	$1.1M	0.43%
47	PLTRPALANTIR TECHNOLOGIES INC	7,246	$988K	0.38%
48	VTEBVANGUARD MUN BD FDS	19,814	$971K	0.38%
49	VVVANGUARD INDEX FDS	3,280	$936K	0.36%
50	GQ9SPDR GOLD TR	2,790	$850K	0.33%
51	VOTETCW ETF TRUST	11,387	$828K	0.32%
52	SPTSSPDR SERIES TRUST	26,431	$774K	0.30%
53	GOOGLALPHABET INC	4,187	$738K	0.29%
54	SCCRSCHWAB STRATEGIC TR	26,375	$675K	0.26%
55	VTVVANGUARD INDEX FDS	3,817	$675K	0.26%
56	XLKSELECT SECTOR SPDR TR	2,273	$576K	0.22%
57	BSVVANGUARD BD INDEX FDS	6,664	$524K	0.20%
58	AAXJISHARES TR	6,087	$503K	0.19%
59	BIVVANGUARD BD INDEX FDS	6,501	$503K	0.19%
60	STPZPIMCO ETF TR	8,924	$480K	0.19%
61	SPSBSPDR SERIES TRUST	15,857	$479K	0.19%
62	PITVANECK ETF TRUST	9,218	$470K	0.18%
63	VGTVANGUARD WORLD FD	597	$396K	0.15%
64	SPBOSPDR SERIES TRUST	12,153	$355K	0.14%
65	WOODISHARES TR	4,792	$352K	0.14%
66	IWMISHARES TR	1,504	$325K	0.13%
67	AAPLAPPLE INC	1,555	$319K	0.12%
68	METAMETA PLATFORMS INC	421	$311K	0.12%
69	IVVISHARES TR	449	$279K	0.11%
70	VPLVANGUARD INTL EQUITY INDEX F	3,157	$259K	0.10%
71	SCMBSCHWAB STRATEGIC TR	9,740	$245K	0.09%
72	ISRGINTUITIVE SURGICAL INC	451	$245K	0.09%
73	VCSHVANGUARD SCOTTSDALE FDS	3,033	$241K	0.09%
74	PRFINVESCO EXCHANGE TRADED FD T	5,600	$237K	0.09%
75	VBVANGUARD INDEX FDS	951	$225K	0.09%
76	MDYSPDR S&P MIDCAP 400 ETF TR	380	$215K	0.08%
77	IOOISHARES TR	1,990	$215K	0.08%
78	FNDBSCHWAB STRATEGIC TR	8,943	$214K	0.08%
79	GOOGALPHABET INC	1,200	$213K	0.08%
80	SPYMSPDR SERIES TRUST	2,887	$210K	0.08%
81	SPEMSPDR INDEX SHS FDS	4,883	$209K	0.08%
82	EMBISHARES TR	2,237	$207K	0.08%
83	AQLTISHARES TR	1,558	$207K	0.08%
84	VISVANGUARD WORLD FD	731	$205K	0.08%
85	WMTWALMART INC	1,946	$190K	0.07%
86	VCITVANGUARD SCOTTSDALE FDS	2,268	$188K	0.07%
87	GSGISHARES S&P GSCI COMMODITY-	8,493	$187K	0.07%
88	NVDANVIDIA CORPORATION	1,130	$179K	0.07%
89	EEMISHARES TR	3,601	$174K	0.07%
90	XHBSPDR SERIES TRUST	1,720	$170K	0.07%
91	IXJISHARES TR	1,948	$168K	0.06%
92	GRMNGARMIN LTD	790	$165K	0.06%
93	DGRWWISDOMTREE TR	1,964	$164K	0.06%
94	VGLTVANGUARD SCOTTSDALE FDS	2,830	$159K	0.06%
95	XOMEXXON MOBIL CORP	1,403	$151K	0.06%
96	JIVEJ P MORGAN EXCHANGE TRADED F	2,120	$147K	0.06%
97	TMOTHERMO FISHER SCIENTIFIC INC	358	$145K	0.06%
98	VOVANGUARD INDEX FDS	515	$144K	0.06%
99	INDYISHARES TR	2,565	$139K	0.05%
100	A4SAMERIPRISE FINL INC	261	$139K	0.05%

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