BI
Breakwater Investment Management Institutional Portfolio & 13F Holdings (Q2 2026)
Breakwater Investment ManagementCIK: 0002025925
Diversified strategySector-focusedLong-term holder
Total reported value
$293.7M
Reporting period: 2026-06-30 · Number of holdings: 600
Breakwater Investment Management disclosed 600 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $293.7M and a quarterly turnover rate of 0.0%.
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Personality snowflake
- Concentration
- 17.1
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 100
- Diversification
- 100
- Sizing Uniformity
- 50.31
Breakwater Investment Management's disclosed holdings carry a Herfindahl concentration index of 0.043 — mathematically equivalent to about 23 equally-sized positions, well below its 600 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 4.97), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 7% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim BND
-16.7% -$1.8M
Add SPTM
+23.6% $3.1M
Trim BNDX
-16.9% -$1.5M
Add ALLW
+932.3% $1.9M
Trim IAGG
-17.6% -$891.6K
Add SCHB
-0.2% $3.3M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 600 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 14.21% | +0.20% | -3.98% | |
| 2 | SCHB | Schwab US Broad Market ETF | ETF-Other | 8.44% | +0.43% | -0.22% | |
| 3 | VXUS | Vanguard Total Intl Stock | ETF-Other | 6.53% | -0.06% | -2.26% | |
| 4 | SPTM | Ss Spdr P S&p 1500 Comp ETF | ETF-Other | 3.54% | +0.81% | +23.55% | |
| 5 | MSFT | Microsoft CORP | Stock-Tech | 3.11% | -0.33% | -1.95% | |
| 6 | BND | Vanguard Total Bond Market | ETF-Other | 2.92% | -0.92% | -16.72% | |
| 7 | SCCR | Schwab Core Bond ETF | ETF-Other | 2.72% | +0.42% | +29.40% | |
| 8 | VEU | Vanguard Ftse All-world Ex-u | ETF-Other | 2.67% | +0.04% | -0.57% | |
| 9 | BNDX | Vanguard Total Intl Bond ETF | ETF-Other | 2.63% | -0.80% | -16.85% | |
| 10 | SCHF | Schwab Intl Equity ETF | ETF-Other | 2.34% | +0.39% | +16.57% | |
| 11 | VT | Vanguard Tot World Stk ETF | ETF-Other | 2.24% | +0.05% | -1.56% | |
| 12 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 2.19% | +0.10% | -0.25% | |
| 13 | VCRB | Vanguard Core Bond ETF | ETF-Other | 2.17% | -0.28% | -3.09% | |
| 14 | VYM | Vanguard High Dvd Yield ETF | ETF-Other | 1.99% | -0.14% | -4.22% | |
| 15 | VWO | Vanguard Ftse Emerging Marke | ETF-Emerging Markets | 1.98% | -0.11% | -6.28% | |
| 16 | MGK | Vanguard Mega Cap Growth ETF | ETF-Other | 1.75% | +0.09% | +383.62% | |
| 17 | VIG | Vanguard Dividend Apprec ETF | ETF-Other | 1.71% | -0.18% | -9.91% | |
| 18 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.62% | +0.02% | -3.41% | |
| 19 | IAGG | Ishares Intl Aggregate Bond | ETF-Other | 1.52% | -0.47% | -17.57% | |
| 20 | SCHD | Schwab US Dvd Equity ETF | ETF-Other | 1.48% | -0.17% | -4.99% | |
| 21 | MGV | Vanguard Mega Cap Value ETF | ETF-Other | 1.37% | -0.25% | -18.41% | |
| 22 | VYMI | Vanguard Int High Dvd Yld In | ETF-Other | 1.17% | -0.07% | -1.27% | |
| 23 | SPDW | Ste Str Spdr Pt Dw EU ETF | ETF-Other | 1.11% | +0.10% | +8.23% | |
| 24 | SPAB | Ss Spdr P Agg Bond ETF | ETF-Other | 1.07% | +0.15% | +28.21% | |
| 25 | SCHZ | Schwab US Aggregate Bond ETF | ETF-Other | 1.06% | -0.13% | -2.49% | |
| 26 | EMHC | Ss Spdr Bb Em Usd Bond ETF | ETF-Other | 1.05% | +0.39% | +69.60% | |
| 27 | VGSH | Vanguard Short-term Treasury | ETF-Gov Bonds | 1.04% | -0.39% | -20.22% | |
| 28 | SCHE | Schwab Emrg Mrkts Eqty ETF | ETF-Other | 0.78% | — | -1.38% | |
| 29 | GII | State Street Spdr S&p Global | ETF-Other | 0.75% | -0.12% | -5.44% | |
| 30 | ALLW | State Street Brgwtr All Wthr | ETF-Other | 0.72% | +0.64% | +932.33% | |
| 31 | SCHO | Schwab Short-term US Treas | ETF-Other | 0.69% | -0.35% | -27.42% | |
| 32 | SCMB | Schwab Municipal Bond ETF | ETF-Other | 0.66% | -0.04% | +2.65% | |
| 33 | VWOB | Vanguard Emerg Mkts Gov Bnd | ETF-Other | 0.66% | -0.07% | -3.46% | |
| 34 | SCHP | Schwab U.s. Tips ETF | ETF-Other | 0.60% | -0.12% | -8.38% | |
| 35 | EBND | State Street Spdr Bloomberg | ETF-Other | 0.60% | +0.24% | +79.30% | |
| 36 | VNQ | Vanguard Real Estate ETF | ETF-Other | 0.56% | -0.03% | -5.53% | |
| 37 | VUG | Vanguard Growth ETF | ETF-Other | 0.55% | +0.04% | +499.97% | |
| 38 | VGK | Vanguard Ftse Europe ETF | ETF-Other | 0.55% | -0.02% | -2.15% | |
| 39 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.51% | +0.06% | +0.57% | |
| 40 | VTEB | Vanguard Tax-exempt Bond ETF | ETF-Other | 0.50% | -0.01% | +5.78% | |
| 41 | EUHY | Ishares Euro High Yield CORP | ETF-High Yield | 0.49% | -0.05% | -4.48% | |
| 42 | VTIP | Vanguard Short-term Tips | ETF-Other | 0.49% | -0.05% | -1.33% | |
| 43 | SCHX | Schwab US Large-cap ETF | ETF-Other | 0.48% | -0.03% | -11.32% | |
| 44 | SCHH | Schwab US Reit ETF | ETF-Other | 0.47% | -0.02% | -5.11% | |
| 45 | VIGI | Vanguard Int Div App Indx Fd | ETF-Other | 0.47% | -0.02% | — | |
| 46 | BBEU | Jpmorgan Betabuilders Europe | ETF-Other | 0.47% | -0.01% | -0.67% | |
| 47 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 0.47% | — | -2.71% | |
| 48 | VTV | Vanguard Value ETF | ETF-Other | 0.46% | — | -1.18% | |
| 49 | SPTS | Ss Spdr P St Term Tsy ETF | ETF-Other | 0.46% | +0.13% | +54.38% | |
| 50 | MGC | Vanguard Mega Cap ETF | ETF-Other | 0.45% | +0.02% | -0.51% |
1–50 of 200
Portfolio Performance
Performance for Q3 2026
+2.2%
Performance Last 4 Quarters
+15.9%
- Stdev
- +8.3%
- Beta
- +0.66
- Alpha
- +2.2%
- Max Drawdown
- -4.7%
- Annualized Perf
- +15.2%
- Batting Avg vs S&P
- +40.7%
- Sortino
- +3.42
- Stutzer
- +0.5
- Treynor
- +0.22
- Sterling
- +1.09
- Calmar
- +3.26
- Information Ratio
- -0.87
- Tracking Error
- +4.8%
- Stdev Down
- +4.3%
- Winning Months %
- +77.8%
- Losing Months %
- +22.2%
- Best 12 Months
- +23%
- Worst 12 Months
- +10.7%
- Efficiency Ratio
- +0.64
- Sharpe
- +1.75
- Stdev Sectors
- +15.4%
- Skewness
- -0.29
- Kurtosis
- +0.69
- Upside Potential
- +4.79
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Breakwater Investment Management's most significant position changes for 2026-06-30: New buy: Ishares Global Infrastructur (IGF); New buy: Vanguard Ftse All Wo X-us Sc (VSS); Sold out: Honeywell International Inc (HON); New buy: ; New buy: .
Showing top 200 changes by size (of 663 total)
1–50 of 200
Filing History
FAQ
What is Breakwater Investment Management and what type of investor is it?
Breakwater Investment Management is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $293.7M, spread across 600 disclosed positions.
What are Breakwater Investment Management's largest equity positions?
Based on the latest 13F filing, Breakwater Investment Management's top holdings by market value are:
1. Vanguard Total Stock Mkt ETF (VTI) — $41.7M (14.2%)
2. Schwab US Broad Market ETF (SCHB) — $24.8M (8.4%)
3. Vanguard Total Intl Stock (VXUS) — $19.2M (6.5%)
4. Ss Spdr P S&p 1500 Comp ETF (SPTM) — $10.4M (3.5%)
5. Microsoft CORP (MSFT) — $9.1M (3.1%)
What changes did Breakwater Investment Management make in its most recent portfolio filing?
In the latest reported quarter, Breakwater Investment Management made 148 notable position adjustments: 11 new positions were initiated, 46 existing holdings were added to, 84 positions were partially reduced, and 7 were completely exited. The largest of these moves: New buy: Ishares Global Infrastructur (IGF); New buy: Vanguard Ftse All Wo X-us Sc (VSS); Sold out: Honeywell International Inc (HON); New buy: ; New buy:
What sectors does Breakwater Investment Management focus on?
Breakwater Investment Management is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 52.0%
• Consumer Discretionary: 26.0%
• Communication Services: 10.2%
• Health Care: 2.8%
• Industrials: 2.4%
• Financials: 2.4%
Investment Profile
Breakwater Investment Management returned an annualized 15.2% over the trailing 27 months — outperforming the S&P 500 by 2.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.66 (less volatile than the market) and a 41% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding, with 52.0% of the portfolio concentrated in Information Technology.
It has added to its EMHC position over the past two quarters (+$3.0M, now $3.1M), while trimming BNDX over the same stretch (-$3.8M, still holding $7.7M).
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