Breakwater Investment Management Q2 2025 Filing

Filed July 9, 2025

Portfolio Value

$258.5B

Holdings

310

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (310 positions)

#StockSharesValue% PortfolioType
1
VTIVANGUARD INDEX FDS
120,263$36.6B14.14%
2
SCHBSCHWAB STRATEGIC TR
936,063$22.3B8.63%
3
VXUSVANGUARD STAR FDS
239,102$16.5B6.39%
4
MSFTMICROSOFT CORP
27,565$13.7B5.30%
5
BNDVANGUARD BD INDEX FDS
156,637$11.5B4.46%
6
BNDXVANGUARD CHARLOTTE FDS
232,895$11.5B4.46%
7
SPTMSPDR SERIES TRUST
94,513$7.1B2.74%
8
VEUVANGUARD INTL EQUITY INDEX F
96,482$6.5B2.51%
9
VCRBVANGUARD MALVERN FDS
82,930$6.4B2.49%
10
VTVANGUARD INTL EQUITY INDEX F
44,612$5.7B2.22%
11
VYMVANGUARD WHITEHALL FDS
42,356$5.6B2.18%
12
VWOVANGUARD INTL EQUITY INDEX F
109,579$5.4B2.10%
13
SPYSPDR S&P 500 ETF TR
8,665$5.4B2.07%
14
SCHFSCHWAB STRATEGIC TR
227,913$5.0B1.95%
15
VIGVANGUARD SPECIALIZED FUNDS
24,480$5.0B1.94%
16
AMZNAMAZON COM INC
21,178$4.6B1.80%
17
MGKVANGUARD WORLD FD
12,669$4.6B1.79%
18
MGVVANGUARD WORLD FD
32,212$4.2B1.64%
19
SCHDSCHWAB STRATEGIC TR
147,265$3.9B1.51%
20
SCHZSCHWAB STRATEGIC TR
165,106$3.8B1.48%
21
VGSHVANGUARD SCOTTSDALE FDS
60,904$3.6B1.38%
22
IAGGISHARES TR
67,161$3.4B1.33%
23
SCHOSCHWAB STRATEGIC TR
125,866$3.1B1.19%
24
VYMIVANGUARD WHITEHALL FDS
32,855$2.6B1.02%
25
SPDWSPDR INDEX SHS FDS
60,756$2.5B0.95%
26
SCHESCHWAB STRATEGIC TR
77,522$2.3B0.90%
27
GIISPDR INDEX SHS FDS
31,649$2.1B0.82%
28
SCHPSCHWAB STRATEGIC TR
76,773$2.0B0.79%
29
VNQVANGUARD INDEX FDS
22,666$2.0B0.78%
30
VWOBVANGUARD WHITEHALL FDS
29,090$1.9B0.74%
31
EUHYISHARES INC
31,841$1.7B0.68%
32
SPABSPDR SERIES TRUST
62,739$1.6B0.62%
33
SCHXSCHWAB STRATEGIC TR
60,321$1.5B0.57%
34
MGCVANGUARD WORLD FD
6,456$1.5B0.56%
35
VTIPVANGUARD MALVERN FDS
28,738$1.4B0.56%
36
VUGVANGUARD INDEX FDS
3,284$1.4B0.56%
37
VIGIVANGUARD WHITEHALL FDS
14,788$1.3B0.52%
38
BBEUJ P MORGAN EXCHANGE TRADED F
19,710$1.3B0.51%
39
STIPISHARES TR
12,003$1.2B0.48%
40
VGITVANGUARD SCOTTSDALE FDS
20,403$1.2B0.47%
41
VGKVANGUARD INTL EQUITY INDEX F
15,715$1.2B0.47%
42
SCHHSCHWAB STRATEGIC TR
57,358$1.2B0.47%
43
VNQIVANGUARD INTL EQUITY INDEX F
24,813$1.1B0.44%
44
VEAVANGUARD TAX-MANAGED FDS
19,899$1.1B0.44%
45
MUBISHARES TR
10,807$1.1B0.44%
46
VTCVANGUARD SCOTTSDALE FDS
14,400$1.1B0.43%
47
PLTRPALANTIR TECHNOLOGIES INC
7,246$987.8M0.38%
48
VTEBVANGUARD MUN BD FDS
19,814$971.5M0.38%
49
VVVANGUARD INDEX FDS
3,280$935.8M0.36%
50
GQ9SPDR GOLD TR
2,790$850.5M0.33%
51
VOTETCW ETF TRUST
11,387$828.3M0.32%
52
SPTSSPDR SERIES TRUST
26,431$774.2M0.30%
53
GOOGLALPHABET INC
4,187$737.9M0.29%
54
SCCRSCHWAB STRATEGIC TR
26,375$675.1M0.26%
55
VTVVANGUARD INDEX FDS
3,817$674.6M0.26%
56
XLKSELECT SECTOR SPDR TR
2,273$575.5M0.22%
57
BSVVANGUARD BD INDEX FDS
6,664$524.5M0.20%
58
AAXJISHARES TR
6,087$502.9M0.19%
59
BIVVANGUARD BD INDEX FDS
6,501$502.8M0.19%
60
STPZPIMCO ETF TR
8,924$480.2M0.19%
61
SPSBSPDR SERIES TRUST
15,857$478.7M0.19%
62
PITVANECK ETF TRUST
9,218$470.1M0.18%
63
VGTVANGUARD WORLD FD
597$396.0M0.15%
64
SPBOSPDR SERIES TRUST
12,153$355.1M0.14%
65
WOODISHARES TR
4,792$351.5M0.14%
66
IWMISHARES TR
1,504$324.5M0.13%
67
AAPLAPPLE INC
1,555$319.0M0.12%
68
METAMETA PLATFORMS INC
421$310.7M0.12%
69
IVVISHARES TR
449$278.8M0.11%
70
VPLVANGUARD INTL EQUITY INDEX F
3,157$259.4M0.10%
71
SCMBSCHWAB STRATEGIC TR
9,740$245.3M0.09%
72
ISRGINTUITIVE SURGICAL INC
451$245.1M0.09%
73
VCSHVANGUARD SCOTTSDALE FDS
3,033$241.1M0.09%
74
PRFINVESCO EXCHANGE TRADED FD T
5,600$236.7M0.09%
75
VBVANGUARD INDEX FDS
951$225.4M0.09%
76
MDYSPDR S&P MIDCAP 400 ETF TR
380$215.3M0.08%
77
IOOISHARES TR
1,990$214.5M0.08%
78
FNDBSCHWAB STRATEGIC TR
8,943$214.5M0.08%
79
GOOGALPHABET INC
1,200$212.9M0.08%
80
SPYMSPDR SERIES TRUST
2,887$209.9M0.08%
81
SPEMSPDR INDEX SHS FDS
4,883$208.7M0.08%
82
EMBISHARES TR
2,237$207.2M0.08%
83
AQLTISHARES TR
1,558$206.9M0.08%
84
VISVANGUARD WORLD FD
731$204.7M0.08%
85
WMTWALMART INC
1,946$190.3M0.07%
86
VCITVANGUARD SCOTTSDALE FDS
2,268$188.1M0.07%
87
GSGISHARES S&P GSCI COMMODITY-
8,493$187.2M0.07%
88
NVDANVIDIA CORPORATION
1,130$178.5M0.07%
89
EEMISHARES TR
3,601$173.7M0.07%
90
XHBSPDR SERIES TRUST
1,720$169.5M0.07%
91
IXJISHARES TR
1,948$167.7M0.06%
92
GRMNGARMIN LTD
790$164.9M0.06%
93
DGRWWISDOMTREE TR
1,964$164.5M0.06%
94
VGLTVANGUARD SCOTTSDALE FDS
2,830$158.8M0.06%
95
XOMEXXON MOBIL CORP
1,403$151.2M0.06%
96
JIVEJ P MORGAN EXCHANGE TRADED F
2,120$146.9M0.06%
97
TMOTHERMO FISHER SCIENTIFIC INC
358$145.2M0.06%
98
VOVANGUARD INDEX FDS
515$144.1M0.06%
99
INDYISHARES TR
2,565$139.5M0.05%
100
A4SAMERIPRISE FINL INC
261$139.3M0.05%
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