BI
Breakwater Investment Management Institutional Portfolio & 13F Holdings (Q3 2026)
Breakwater Investment ManagementCIK: 0002025925
Diversified strategySector-focusedMomentum follower
Total reported value
$301.7M
Reporting period: 2026-09-30 · Number of holdings: 774
Breakwater Investment Management disclosed 774 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $301.7M and a quarterly turnover rate of 20.3%.
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Personality snowflake
- Concentration
- 15.75
- Portfolio Stability
- 20.29
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 100
- Sizing Uniformity
- 45.67
Breakwater Investment Management's disclosed holdings carry a Herfindahl concentration index of 0.039 — mathematically equivalent to about 25 equally-sized positions, well below its 774 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 5.43), 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 8% 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.govAdd ALLW
+212.9% $4.4M
Add MSFT
+8.0% $4.4M
Trim VTI
-7.3% -$2.6M
Add SPTM
+36.2% $4.0M
Trim BNDX
-33.5% -$2.8M
Add TFI
+533.4% $2.4M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 774 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 12.97% | -1.24% | -7.34% | |
| 2 | SCHB | Schwab US Broad Market ETF | ETF-Other | 7.75% | -0.69% | -6.86% | |
| 3 | VXUS | Vanguard Total Intl Stock | ETF-Other | 6.18% | -0.35% | -2.18% | |
| 4 | SPTM | Ss Spdr P S&p 1500 Comp ETF | ETF-Other | 4.76% | +1.22% | +36.22% | |
| 5 | MSFT | Microsoft CORP | Stock-Tech | 4.50% | +1.39% | +8.02% | |
| 6 | SCHF | Schwab Intl Equity ETF | ETF-Other | 2.99% | +0.65% | +32.61% | |
| 7 | SCCR | Schwab Core Bond ETF | ETF-Other | 2.80% | +0.08% | +11.53% | |
| 8 | VEU | Vanguard Ftse All-world Ex-u | ETF-Other | 2.44% | -0.23% | -5.43% | |
| 9 | VCRB | Vanguard Core Bond ETF | ETF-Other | 2.20% | +0.03% | +9.24% | |
| 10 | ALLW | State Street Brgwtr All Wthr | ETF-Other | 2.15% | +1.43% | +212.86% | |
| 11 | BND | Vanguard Total Bond Market | ETF-Other | 2.15% | -0.77% | -20.98% | |
| 12 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 2.14% | -0.05% | -1.83% | |
| 13 | VT | Vanguard Tot World Stk ETF | ETF-Other | 2.11% | -0.13% | -3.88% | |
| 14 | VWO | Vanguard Ftse Emerging Marke | ETF-Emerging Markets | 1.79% | -0.19% | -6.23% | |
| 15 | MGK | Vanguard Mega Cap Growth ETF | ETF-Other | 1.67% | -0.08% | -7.31% | |
| 16 | VYM | Vanguard High Dvd Yield ETF | ETF-Other | 1.67% | -0.32% | -12.39% | |
| 17 | BNDX | Vanguard Total Intl Bond ETF | ETF-Other | 1.65% | -0.98% | -33.52% | |
| 18 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.56% | -0.06% | -5.28% | |
| 19 | VIG | Vanguard Dividend Apprec ETF | ETF-Other | 1.54% | -0.17% | -6.45% | |
| 20 | SPAB | Ss Spdr P Agg Bond ETF | ETF-Other | 1.42% | +0.35% | +42.66% | |
| 21 | SCHD | Schwab US Dvd Equity ETF | ETF-Other | 1.20% | -0.28% | -19.15% | |
| 22 | SPEM | State Street Sp Ptf Em ETF | ETF-Other | 1.15% | +0.77% | +213.05% | |
| 23 | EMHC | Ss Spdr Bb Em Usd Bond ETF | ETF-Other | 1.12% | +0.07% | +16.64% | |
| 24 | MGV | Vanguard Mega Cap Value ETF | ETF-Other | 1.09% | -0.28% | -17.32% | |
| 25 | VYMI | Vanguard Int High Dvd Yld In | ETF-Other | 1.08% | -0.09% | -7.81% | |
| 26 | PRIV | Ss Ig Publ Priv Cred Etf-usd | ETF-Other | 1.07% | +0.76% | +275.02% | |
| 27 | HYBL | Ss Blackstone High Inc ETF | ETF-Other | 1.04% | +0.77% | +295.79% | |
| 28 | SPDW | Ste Str Spdr Pt Dw EU ETF | ETF-Other | 0.98% | -0.13% | -8.26% | |
| 29 | TFI | Ss Spdr N Ice Muni Bond ETF | ETF-Other | 0.95% | +0.78% | +533.42% | |
| 30 | SCHZ | Schwab US Aggregate Bond ETF | ETF-Other | 0.86% | -0.20% | -13.01% | |
| 31 | IAGG | Ishares Intl Aggregate Bond | ETF-Other | 0.86% | -0.66% | -40.50% | |
| 32 | VGSH | Vanguard Short-term Treasury | ETF-Gov Bonds | 0.83% | -0.21% | -17.25% | |
| 33 | RLY | Ss Multi-asset Real Ret ETF | ETF-Other | 0.75% | +0.43% | +127.16% | |
| 34 | SCHC | Schwab Intl Small-cap Equity | ETF-Other | 0.72% | +0.53% | +278.21% | |
| 35 | SCHE | Schwab Emrg Mrkts Eqty ETF | ETF-Other | 0.68% | -0.10% | -10.13% | |
| 36 | EBND | State Street Spdr Bloomberg | ETF-Other | 0.65% | +0.05% | +13.00% | |
| 37 | VTEB | Vanguard Tax-exempt Bond ETF | ETF-Other | 0.62% | +0.12% | +35.10% | |
| 38 | GII | State Street Spdr S&p Global | ETF-Other | 0.60% | -0.15% | -11.26% | |
| 39 | VWOB | Vanguard Emerg Mkts Gov Bnd | ETF-Other | 0.59% | -0.07% | -0.99% | |
| 40 | VUG | Vanguard Growth ETF | ETF-Other | 0.56% | +0.01% | — | |
| 41 | SCHO | Schwab Short-term US Treas | ETF-Other | 0.54% | -0.15% | -18.42% | |
| 42 | VGK | Vanguard Ftse Europe ETF | ETF-Other | 0.50% | -0.05% | -4.75% | |
| 43 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.49% | -0.02% | +1.87% | |
| 44 | SCHP | Schwab U.s. Tips ETF | ETF-Other | 0.49% | -0.11% | -11.36% | |
| 45 | VNQ | Vanguard Real Estate ETF | ETF-Other | 0.48% | -0.08% | -5.12% | |
| 46 | VIGI | Vanguard Int Div App Indx Fd | ETF-Other | 0.46% | -0.01% | -0.13% | |
| 47 | SPTS | Ss Spdr P St Term Tsy ETF | ETF-Other | 0.45% | -0.01% | +2.08% | |
| 48 | SCHX | Schwab US Large-cap ETF | ETF-Other | 0.43% | -0.05% | -8.65% | |
| 49 | VTV | Vanguard Value ETF | ETF-Other | 0.41% | -0.05% | -6.55% | |
| 50 | VTIP | Vanguard Short-term Tips | ETF-Other | 0.41% | -0.08% | -12.10% |
1–50 of 200
Portfolio Performance
Performance for Q4 2026
+0.6%
Performance Last 4 Quarters
+9.4%
- Stdev
- +8.2%
- Beta
- +0.67
- Alpha
- +1.2%
- Max Drawdown
- -4.7%
- Annualized Perf
- +13.2%
- Batting Avg vs S&P
- +41.4%
- Sortino
- +3.01
- Stutzer
- +0.45
- Treynor
- +0.19
- Sterling
- +0.95
- Calmar
- +2.84
- Information Ratio
- -0.98
- Tracking Error
- +4.7%
- Stdev Down
- +4.3%
- Winning Months %
- +75.9%
- Losing Months %
- +24.1%
- Best 12 Months
- +23%
- Worst 12 Months
- +9.4%
- Efficiency Ratio
- +0.58
- Sharpe
- +1.56
- Stdev Sectors
- +17.5%
- Skewness
- -0.17
- Kurtosis
- +0.57
- Upside Potential
- +4.46
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 2026-09-30: New buy: ; New buy: Ishr Cr Unvrse Usd Bd Etf-ui (IUSB); Sold out: Exxon Mobil CORP (XOM); New buy: Ss Spdr P High Yield ETF (SPHY); Sold out: Ishares Russell 1000 ETF (IWB).
Showing top 200 changes by size (of 846 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ALLW | State Street Brgwtr All Wthr | +1.4% | +212.86% | Add |
| 2 | MSFT | Microsoft CORP | +1.4% | +8.02% | Add |
| 3 | SPTM | Ss Spdr P S&p 1500 Comp ETF | +1.2% | +36.22% | Add |
| 4 | TFI | Ss Spdr N Ice Muni Bond ETF | +0.8% | +533.42% | Add |
| 5 | SPEM | State Street Sp Ptf Em ETF | +0.8% | +213.05% | Add |
| 6 | HYBL | Ss Blackstone High Inc ETF | +0.8% | +295.79% | Add |
| 7 | PRIV | Ss Ig Publ Priv Cred Etf-usd | +0.8% | +275.02% | Add |
| 8 | SCHF | Schwab Intl Equity ETF | +0.7% | +32.61% | Add |
| 9 | SCHC | Schwab Intl Small-cap Equity | +0.5% | +278.21% | Add |
| 10 | RLY | Ss Multi-asset Real Ret ETF | +0.4% | +127.16% | Add |
| 11 | SPAB | Ss Spdr P Agg Bond ETF | +0.4% | +42.66% | Add |
| 12 | LEMB | Ishares Jp Morgan Em Local C | +0.2% | +4154.31% | Add |
| 13 | GOVT | Ishares US Treasury Bond ETF | +0.2% | +104.28% | Add |
| 14 | VIOO | Vanguard S&p Small-cap 600 E | +0.2% | +102.54% | Add |
| 15 | VTEB | Vanguard Tax-exempt Bond ETF | +0.1% | +35.10% | Add |
| 16 | SCHA | Schwab US Small-cap ETF | +0.1% | +1984.46% | Add |
| 17 | SCCR | Schwab Core Bond ETF | +0.1% | +11.53% | Add |
| 18 | ✓ | +0.1% | NEW | New buy | |
| 19 | EMHC | Ss Spdr Bb Em Usd Bond ETF | +0.1% | +16.64% | Add |
| 20 | IUSB | Ishr Cr Unvrse Usd Bd Etf-ui | +0.1% | NEW | New buy |
| 21 | SPHY | Ss Spdr P High Yield ETF | +0.1% | NEW | New buy |
| 22 | EBND | State Street Spdr Bloomberg | +0.1% | +13.00% | Add |
| 23 | PLTR | Palantir Technologies Inc-a | +0.1% | +0.91% | Add |
| 24 | VCRB | Vanguard Core Bond ETF | 0% | +9.24% | Add |
| 25 | AAPL | Apple Inc | 0% | +7.25% | Add |
| 26 | OMER | Omeros CORP | 0% | -17.60% | Trim |
| 27 | VSS | Vanguard Ftse All Wo X-us Sc | 0% | +147.62% | Add |
| 28 | SPTI | Ss Spdr P Int Term Tsy ETF | 0% | +889.25% | Add |
| 29 | NVDA | Nvidia CORP | 0% | +14.29% | Add |
| 30 | PIT | Vaneck Commodity Strat ETF | 0% | -12.93% | Trim |
| 31 | GRMN | Garmin Ltd. | 0% | +0.13% | Add |
| 32 | VUG | Vanguard Growth ETF | 0% | — | Unchanged |
| 33 | META | Meta Platforms Inc-class A | 0% | +6.58% | Add |
| 34 | GSG | Ishares S&p Gsci Commodity I | 0% | -3.43% | Trim |
| 35 | TMO | Thermo Fisher Scientific Inc | 0% | -12.50% | Trim |
| 36 | ZS | Zscaler Inc | 0% | NEW | New buy |
| 37 | ACN | Accenture plc | 0% | +3.78% | Add |
| 38 | IOO | Ishares Global 100 ETF | 0% | — | Unchanged |
| 39 | MU | Micron Technology Inc | 0% | +125.00% | Add |
| 40 | AVGO | Broadcom Inc | 0% | +20.11% | Add |
| 41 | JNJ | Johnson & Johnson | 0% | +13.61% | Add |
| 42 | ARKW | Ark Next Generation Internet | 0% | — | Unchanged |
| 43 | EWT | Ishares Msci Taiwan ETF | 0% | — | Unchanged |
| 44 | IXJ | Ishares Global Healthcare Et | 0% | — | Unchanged |
| 45 | CVX | Chevron CORP | — | +1.75% | Add |
| 46 | ICE | Intercontinental Exchange In | — | +3.54% | Add |
| 47 | MDY | State Street Spdr S&p Midcap | — | — | Unchanged |
| 48 | VCIT | Vanguard Int-term Corporate | — | -1.72% | Trim |
| 49 | IBB | Ishares Biotechnology ETF | — | EXIT | Sold out |
| 50 | EWL | Ishares Msci Switzerland ETF | — | -29.49% | Trim |
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 (2026-09-30), the firm manages a tracked equity portfolio valued at approximately $301.7M, spread across 774 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) — $39.1M (13.0%)
2. Schwab US Broad Market ETF (SCHB) — $23.4M (7.8%)
3. Vanguard Total Intl Stock (VXUS) — $18.7M (6.2%)
4. Ss Spdr P S&p 1500 Comp ETF (SPTM) — $14.4M (4.8%)
5. Microsoft CORP (MSFT) — $13.6M (4.5%)
What changes did Breakwater Investment Management make in its most recent portfolio filing?
In the latest reported quarter, Breakwater Investment Management made 174 notable position adjustments: 11 new positions were initiated, 65 existing holdings were added to, 89 positions were partially reduced, and 9 were completely exited. The largest of these moves: New buy: ; New buy: Ishr Cr Unvrse Usd Bd Etf-ui (IUSB); Sold out: Exxon Mobil CORP (XOM); New buy: Ss Spdr P High Yield ETF (SPHY); Sold out: Ishares Russell 1000 ETF (IWB)
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: 61.3%
• Consumer Discretionary: 20.6%
• Communication Services: 8.3%
• Health Care: 2.7%
• Financials: 2.3%
• Industrials: 2.0%
Investment Profile
Breakwater Investment Management returned an annualized 13.2% over the trailing 29 months — outperforming the S&P 500 by 1.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.67 (less volatile than the market) and a 41% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 61.3% of the portfolio concentrated in Information Technology.
It has added to its SPTM position over the past two quarters (+$7.0M, now $14.4M), while trimming BNDX over the same stretch (-$4.3M, still holding $5.0M).
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