Breakwater Investment Management

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CIK 2025925

13F portfolio (2026-Q1)

$269M

Positions

506

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

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As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

506

Top 5

35.9%

Top 10

49.4%

Effective N

23.5

HHI

0.043

This quarter

78 new · 0 exit →

By sector

Unclassified92.6%

Information Technology4.0%

Consumer Discretionary1.9%

Communication Services0.6%

Industrials0.2%

Health Care0.2%

Financials0.2%

Energy0.1%

Other0.1%

By market cap

Unknown92.6%

Mega (>$200B)6.6%

Large ($10–200B)0.7%

Small ($300M–2B)0.1%

Mid ($2–10B)0.1%

Micro (<$300M)0.0%

By region

Other92.6%

North America7.4%

Europe0.0%

Asia-Pacific0.0%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	92.56%	208
Software	3.60%	30
Specialty Retail	1.81%	11
Software & IT Services	0.63%	11
Technology Hardware & Equipment	0.30%	18
Aerospace & Defense	0.14%	10
Oil, Gas & Consumable Fuels	0.14%	11
Pharmaceuticals & Biotechnology	0.11%	15
Semiconductors & Semiconductor Equipment	0.10%	11
Hotels, Restaurants & Leisure	0.10%	6
Capital Markets	0.08%	14
Health Care Equipment & Supplies	0.08%	8
Banks	0.06%	13
Commercial Services & Supplies	0.05%	13
Chemicals	0.05%	12
Construction & Engineering	0.05%	6
Machinery	0.02%	12
Food Products	0.02%	4
Utilities	0.02%	13
Beverages	0.01%	6
Metals & Mining	0.01%	6
Transportation Infrastructure	0.01%	2
Automobiles & Components	0.01%	4
Communications Equipment	0.01%	2
Insurance	0.00%	13
Equity Real Estate Investment Trusts (REITs)	0.00%	10
Entertainment	0.00%	1
Media & Entertainment	0.00%	5
Airlines	0.00%	3
Diversified Telecommunication Services	0.00%	6
Road & Rail	0.00%	4
Electrical Equipment & Components	0.00%	4
Tobacco	0.00%	2
Professional Services	0.00%	3
Construction Materials	0.00%	2
Health Care Providers & Services	0.00%	2
Distributors	0.00%	1
Agricultural Products	0.00%	1
Food & Staples Retailing	0.00%	1
Real Estate Management & Development	0.00%	1
Textiles, Apparel & Luxury Goods	0.00%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	VTI	VANGUARD INDEX FDS	Unclassified	14.01%
2	SCHB	SCHWAB STRATEGIC TR	Unclassified	8.01%
3	VXUS	VANGUARD STAR FDS	Unclassified	6.59%
4	BND	VANGUARD BD INDEX FDS	Unclassified	3.84%
5	MSFT	MICROSOFT CORP	Information Technology	3.44%
6	BNDX	VANGUARD CHARLOTTE FDS	Unclassified	3.43%
7	SPTM	SPDR SERIES TRUST	Unclassified	2.73%
8	VEU	VANGUARD INTL EQUITY INDEX F	Unclassified	2.63%
9	VCRB	VANGUARD MALVERN FDS	Unclassified	2.45%
10	SCCR	SCHWAB STRATEGIC TR	Unclassified	2.30%

298/506 names classified · sector 7.4% of weight · industry 7.4% · mkt cap 7.4%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 9 quarters

Information TechnologyMSFT, AAPL, PLTR, NVDA, TMO · other

Consumer DiscretionaryAMZN, WMT, HD, SBUX, HLT · other

Communication ServicesGOOGL, GOOG, META, CMCSA, DIS · other

Health CareISRG, MRK, OMER, JNJ, AZN · other

IndustrialsGRMN, FLR, ACN, BA, LMT · other

FinancialsAMP, BAC, MA, ICE, JPM · other

EnergyXOM, CVX, SHEL, BP, ENB · other

Consumer StaplesKO, PEP, ADM, GIS, STZ · other

MaterialsECL, PG, BHP, DOW, APD · other

UtilitiesDTE, NEE, DTM, TRGP, LNG · other

Real EstateWY, PLD, VTR, EQIX, JLL · other

UnclassifiedVTI, SCHB, VXUS, BND, BNDX · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 7.4% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Only 7% of book weight classified — the grid is NOT representative of the whole book.

holdings, colored by sector (268 classified)Breakwater Investment Management centroid (Large Growth)

Information TechnologyConsumer DiscretionaryCommunication ServicesIndustrialsFinancialsEnergyHealth CareMaterialsConsumer StaplesUtilitiesReal Estate

Style box summary for Breakwater Investment Management: centroid Large Growth. Heaviest cells: Large Growth 6.4%, Large Value 0.4%, Large Core 0.3%.

Classified: 7.3% of book weight (268/506 names) · unclassified 92.7%: VTI, SCHB, VXUS, BND, BNDX, SPTM, VEU, VCRB, SCCR, VT +228 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 506 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	VTIVANGUARD INDEX FDS	117,486	$38M	14.0%	TRIM −2%
2	SCHBSCHWAB STRATEGIC TR	858,181	$22M	8.0%	HOLD
3	VXUSVANGUARD STAR FDS	229,707	$18M	6.6%	TRIM −2%
4	BNDVANGUARD BD INDEX FDS	140,199	$10M	3.8%	TRIM −8%
5	MSFTMICROSOFT CORP	24,974	$9M	3.4%	HOLD
6	BNDXVANGUARD CHARLOTTE FDS	192,129	$9M	3.4%	TRIM −20%
7	SPTMSPDR SERIES TRUST	92,755	$7M	2.7%	HOLD
8	VEUVANGUARD INTL EQUITY INDEX F	94,192	$7M	2.6%	HOLD
9	VCRBVANGUARD MALVERN FDS	85,096	$7M	2.4%	HOLD
10	SCCRSCHWAB STRATEGIC TR	241,006	$6M	2.3%	ADD 21%
11	VTVANGUARD INTL EQUITY INDEX F	42,547	$6M	2.2%	HOLD
12	VYMVANGUARD WHITEHALL FDS	38,648	$6M	2.1%	TRIM −2%
13	SPYSTATE STR SPDR S&P 500 ETF T	8,654	$6M	2.1%	HOLD
14	VWOVANGUARD INTL EQUITY INDEX F	103,851	$6M	2.1%	HOLD
15	IAGGISHARES TR	107,033	$5M	2.0%	ADD 19%
16	SCHFSCHWAB STRATEGIC TR	212,433	$5M	2.0%	HOLD
17	VIGVANGUARD SPECIALIZED FUNDS	23,619	$5M	1.9%	TRIM −2%
18	MGKVanguard Mega Cap Growth ETF	12,122	$4M	1.7%	HOLD
19	SCHDSCHWAB STRATEGIC TR	144,304	$4M	1.6%	HOLD
20	MGVVANGUARD WORLD FD	30,151	$4M	1.6%	TRIM −3%
21	AMZNAMAZON COM INC	20,711	$4M	1.6%	TRIM −2%
22	VGSHVANGUARD SHORT-TERM TREASURY ETF	65,766	$4M	1.4%	HOLD
23	VYMIVANGUARD WHITEHALL FDS	35,491	$3M	1.2%	HOLD
24	SCHZSCHWAB STRATEGIC TR	138,219	$3M	1.2%	TRIM −5%
25	SCHOSCHWAB SHORT-TERM US TREASURY ETF	115,683	$3M	1.0%	HOLD
26	SPDWSPDR INDEX SHS FDS	59,550	$3M	1.0%	HOLD
27	SPABSPDR SERIES TRUST	96,049	$2M	0.9%	ADD 45%
28	GIISPDR INDEX SHS FDS	30,607	$2M	0.9%	HOLD
29	SCHESCHWAB STRATEGIC TR	63,897	$2M	0.8%	TRIM −11%
30	VWOBVANGUARD WHITEHALL FDS	29,691	$2M	0.7%	HOLD
31	SCHPSCHWAB STRATEGIC TR	72,575	$2M	0.7%	HOLD
32	SCMBSCHWAB STRATEGIC TR	73,509	$2M	0.7%	ADD 8%
33	EMHCSPDR SERIES TRUST	71,769	$2M	0.7%	ADD 1489%
34	VNQVANGUARD INDEX FDS	18,014	$2M	0.6%	TRIM −12%
35	VGKVANGUARD INTL EQUITY INDEX F	18,538	$2M	0.6%	HOLD
36	EUHYISHARES INC	27,896	$1M	0.5%	TRIM −6%
37	VTIPVANGUARD MALVERN FDS	28,816	$1M	0.5%	HOLD
38	VTEBVANGUARD MUN BD FDS	27,617	$1M	0.5%	ADD 22%
39	SCHXSCHWAB U.S. LARGE-CAP ETF	53,631	$1M	0.5%	TRIM −4%
40	VUGVANGUARD INDEX FDS	3,147	$1M	0.5%	TRIM −4%
41	SCHHSCHWAB STRATEGIC TR	61,899	$1M	0.5%	ADD 3%
42	VIGIVanguard Whitehall Int'l Div. Apprec. ETF	14,788	$1M	0.5%	HOLD
43	GLDSPDR GOLD TR	3,031	$1M	0.5%	HOLD
44	BBEUJ P MORGAN EXCHANGE TRADED F BETABUILDERS EUR	17,718	$1M	0.5%	TRIM −20%
45	VEAVANGUARD TAX-MANAGED FDS	19,745	$1M	0.5%	HOLD
46	STIPISHARES TR	12,010	$1M	0.5%	HOLD
47	VTVVANGUARD INDEX FDS	6,272	$1M	0.5%	ADD 4%
48	VGITVANGUARD SCOTTSDALE FDS	20,334	$1M	0.5%	HOLD
49	GOOGLALPHABET INC	4,202	$1M	0.4%	HOLD
50	MGCVanguard Mega Cap ETF	4,905	$1M	0.4%	TRIM −16%
51	VNQIVANGUARD INTL EQUITY INDEX F	25,001	$1M	0.4%	HOLD
52	VVVANGUARD INDEX FDS	3,280	$980,228	0.4%	HOLD
53	EBNDSPDR SERIES TRUST	46,972	$969,503	0.4%	ADD 756%
54	VTCVANGUARD SCOTTSDALE FDS	12,544	$963,756	0.4%	HOLD
55	SPTSSPDR SERIES TRUST	30,007	$875,605	0.3%	ADD 11%
56	VOTETCW ETF TRUST	11,396	$869,515	0.3%	HOLD
57	PITVanEck Commodity Strategy ETF	11,623	$841,157	0.3%	TRIM −5%
58	MUBISHARES TR	6,098	$647,303	0.2%	TRIM −26%
59	BSVVANGUARD BD INDEX FDS	6,664	$522,525	0.2%	HOLD
60	BIVVANGUARD BD INDEX FDS	6,501	$501,742	0.2%	HOLD
61	JIVEJ P MORGAN EXCHANGE TRADED F	5,730	$490,715	0.2%	ADD 6%
62	SPSBSPDR SERIES TRUST	15,857	$476,820	0.2%	HOLD
63	AAXJISHARES TR	4,761	$458,437	0.2%	HOLD
64	STPZPIMCO ETF TR	8,159	$441,456	0.2%	HOLD
65	SPEMSPDR INDEX SHS FDS	9,199	$431,526	0.2%	ADD 78%
66	VGTVANGUARD WORLD FD	597	$416,539	0.2%	HOLD
67	SPBOSPDR SERIES TRUST	13,966	$405,433	0.2%	ADD 13%
68	AAPLAPPLE INC	1,584	$402,004	0.1%	HOLD
69	IWMISHARES TR	1,504	$372,992	0.1%	HOLD
70	GOOGALPHABET INC	1,232	$353,412	0.1%	HOLD
71	WOODISHARES TR	4,467	$316,932	0.1%	TRIM −7%
72	PLTRPALANTIR TECHNOLOGIES INC	2,084	$304,848	0.1%	HOLD
73	EMBISHARES TR	3,182	$298,886	0.1%	HOLD
74	IVVISHARES TR	449	$293,292	0.1%	HOLD
75	DGRWWISDOMTREE TR	3,162	$277,751	0.1%	HOLD
76	GSGISHARES S&P GSCI COMMODITY-	8,457	$272,739	0.1%	HOLD
77	PRFINVESCO EXCHANGE TRADED FD T	5,600	$266,168	0.1%	HOLD
78	WMTWALMART INC	1,961	$243,705	0.1%	HOLD
79	FNDBSchwab Fundamental US Broad Market ETF	8,943	$243,250	0.1%	HOLD
80	XOMEXXON MOBIL CORP	1,423	$241,427	0.1%	TRIM −3%
81	IOOIShares S&P Global 100 Index ETF	1,990	$240,731	0.1%	HOLD
82	DVYISHARES TR	1,548	$234,383	0.1%	HOLD
83	VISVANGUARD WORLD FD	731	$228,233	0.1%	HOLD
84	PRIVSSGA ACTIVE TR	8,834	$222,845	0.1%	ADD 1612%
85	SPYMSPDR SERIES TRUST	2,887	$220,971	0.1%	HOLD
86	HYBLSSGA ACTIVE TR	7,790	$216,874	0.1%	ADD 1021%
87	MDYSPDR S&P MIDCAP 400 ETF TR	349	$215,250	0.1%	TRIM −8%
88	ISRGINTUITIVE SURGICAL INC	452	$208,368	0.1%	HOLD
89	VPLVANGUARD INTL EQUITY INDEX F	2,099	$205,136	0.1%	HOLD
90	NVDANVIDIA CORPORATION	1,173	$204,572	0.1%	TRIM −6%
91	ALLWSSGA ACTIVE TR	7,019	$202,499	0.1%	ADD 444%
92	VBVANGUARD INDEX FDS	758	$198,536	0.1%	HOLD
93	EEMISHARES TR	3,394	$192,746	0.1%	ADD 4%
94	SCHCSCHWAB STRATEGIC TR	4,095	$191,390	0.1%	ADD 473%
95	RLYSSGA ACTIVE ETF TR	5,268	$190,439	0.1%	ADD 748%
96	GRMNGARMIN LTD	792	$183,752	0.1%	HOLD
97	OMEROMEROS CORP	17,048	$180,027	0.1%	HOLD
98	VCITVANGUARD SCOTTSDALE FDS	2,155	$178,327	0.1%	TRIM −5%
99	TMOTHERMO FISHER SCIENTIFIC INC	357	$175,477	0.1%	HOLD
100	VCSHVANGUARD SCOTTSDALE FDS	2,148	$170,272	0.1%	TRIM −19%
101	XHBSPDR SERIES TRUST	1,720	$169,799	0.1%	HOLD
102	FNDFSCHWAB STRATEGIC TR	3,101	$151,732	0.1%	TRIM −7%
103	FNDXSCHWAB STRATEGIC TR	5,388	$150,056	0.1%	HOLD
104	EWYISHARES INC MSCI STH KOR ETF	1,158	$142,446	0.1%	ADD 52%
105	AGGYWISDOMTREE TR	3,262	$141,734	0.1%	HOLD
106	METAMETA PLATFORMS INC	236	$135,023	0.1%	TRIM −46%
107	SBUXSTARBUCKS CORP	1,497	$134,117	0.0%	ADD 5%
108	VOOVANGUARD INDEX FDS	219	$130,864	0.0%	HOLD
109	IAUISHARES GOLD TR	1,480	$130,477	0.0%	HOLD
110	FLRFLUOR CORP NEW	2,700	$125,955	0.0%	HOLD
111	QQQINVESCO QQQ TR	208	$120,054	0.0%	HOLD
112	HLTHILTON WORLDWIDE HLDGS INC	394	$119,808	0.0%	HOLD
113	BACBANK AMERICA CORP	2,394	$116,708	0.0%	HOLD
114	AMPAMERIPRISE FINL INC	262	$116,433	0.0%	HOLD
115	VOVANGUARD INDEX FDS	398	$114,298	0.0%	HOLD
116	REETISHARES TR	4,186	$105,278	0.0%	TRIM −14%
117	EFAISHARES TR	1,063	$103,250	0.0%	HOLD
118	AGGISHARES TR	1,033	$102,522	0.0%	HOLD
119	VIOOVANGUARD ADMIRAL FDS INC	861	$98,869	0.0%	ADD 1033%
120	SCHRSCHWAB STRATEGIC TR	3,926	$97,797	0.0%	HOLD
121	IXJISHARES TR	1,036	$96,908	0.0%	TRIM −30%
122	SPTBSPDR SERIES TRUST	3,183	$96,334	0.0%	HOLD
123	CVXCHEVRON CORP NEW	459	$94,968	0.0%	HOLD
124	SCYBSCHWAB STRATEGIC TR	3,503	$91,078	0.0%	HOLD
125	MAMASTERCARD INCORPORATED	178	$88,940	0.0%	HOLD
126	FNDESCHWAB STRATEGIC TR	2,236	$85,550	0.0%	HOLD
127	VTECVANGUARD CALIF TAX FREE FDS	851	$84,318	0.0%	TRIM −7%
128	TJXTJX COS INC NEW	524	$83,683	0.0%	HOLD
129	HDHOME DEPOT INC	250	$82,223	0.0%	HOLD
130	LOWLOWES COS INC	345	$81,517	0.0%	TRIM −3%
131	ROKROCKWELL AUTOMATION INC	226	$81,107	0.0%	HOLD
132	ACWXISHARES TR	1,155	$79,083	0.0%	HOLD
133	SCHMSCHWAB STRATEGIC TR	2,550	$78,948	0.0%	HOLD
134	IXUSISHARES TR	910	$78,843	0.0%	HOLD
135	ICEINTERCONTINENTAL EXCHANGE IN	483	$75,967	0.0%	HOLD
136	ARTYISHARES TR	1,591	$74,030	0.0%	HOLD
137	BWXSPDR SERIES TRUST	3,372	$74,016	0.0%	TRIM −21%
138	TIPISHARES TR	654	$72,176	0.0%	HOLD
139	SMHVANECK ETF TRUST	185	$70,929	0.0%	HOLD
140	VBRVANGUARD INDEX FDS	323	$70,170	0.0%	HOLD
141	BABOEING CO	351	$69,860	0.0%	HOLD
142	ADBEADOBE INC	282	$68,549	0.0%	HOLD
143	CSCOCISCO SYS INC	878	$68,125	0.0%	TRIM −41%
144	COSTCOSTCO WHSL CORP NEW	68	$67,758	0.0%	TRIM −18%
145	EWTISHARES INC MSCI TAIWAN ETF	935	$66,311	0.0%	HOLD
146	SHYISHARES TR	782	$64,570	0.0%	HOLD
147	ITOTISHARES TR	442	$62,955	0.0%	HOLD
148	ECLECOLAB INC	233	$61,983	0.0%	HOLD
149	GOVTISHARES TR	2,679	$61,376	0.0%	ADD 605%
150	IJJISHARES TR	463	$61,348	0.0%	HOLD
151	IJHISHARES TR	895	$60,415	0.0%	HOLD
152	DHRDANAHER CORP DEL	308	$58,397	0.0%	TRIM −10%
153	XLVSELECT SECTOR SPDR TR	369	$54,100	0.0%	HOLD
154	EPPISHARES INC	1,005	$53,406	0.0%	HOLD
155	VBKVANGUARD INDEX FDS	176	$53,131	0.0%	HOLD
156	PGPROCTER AND GAMBLE CO	366	$52,866	0.0%	HOLD
157	AVGOBROADCOM INC	170	$52,617	0.0%	TRIM −4%
158	HONHONEYWELL INTL INC	228	$51,535	0.0%	HOLD
159	LMTLOCKHEED MARTIN CORP	85	$51,374	0.0%	TRIM −16%
160	JNJJOHNSON & JOHNSON	207	$50,600	0.0%	TRIM −6%
161	TFISPDR SERIES TRUST	1,069	$48,469	0.0%	HOLD
162	IEFAISHARES TR	519	$46,986	0.0%	HOLD
163	PCYINVESCO EXCH TRADED FD TR II	2,230	$46,607	0.0%	HOLD
164	ACNACCENTURE PLC IRELAND	235	$46,599	0.0%	HOLD
165	SCHYSCHWAB STRATEGIC TR	1,463	$46,319	0.0%	HOLD
166	ORCLORACLE CORP	276	$40,603	0.0%	ADD 3%
167	EFVISHARES TR	528	$39,289	0.0%	HOLD
168	EWJISHARES INC	464	$39,181	0.0%	HOLD
169	IUSGISHARES TR	245	$38,002	0.0%	HOLD
170	SCHKSCHWAB STRATEGIC TR	1,174	$36,782	0.0%	HOLD
171	ARKWARK ETF TR	300	$36,183	0.0%	HOLD
172	EZUISHARES INC MSCI EURZONE ETF	577	$36,144	0.0%	HOLD
173	ICFIShares Cohen & Steers REIT ETF	570	$35,278	0.0%	HOLD
174	PIOINVESCO EXCH TRADED FD TR II	774	$33,608	0.0%	HOLD
175	ITWILLINOIS TOOL WKS INC	126	$32,797	0.0%	HOLD
176	TURISHARES INC	838	$32,389	0.0%	HOLD
177	LLYELI LILLY & CO	35	$32,192	0.0%	HOLD
178	EWLISHARES INC	546	$32,111	0.0%	HOLD
179	ACWIISHARES TR	232	$32,102	0.0%	HOLD
180	IWVISHARES TR	83	$30,767	0.0%	HOLD
181	IWBISHARES TR	86	$30,665	0.0%	HOLD
182	EFGISHARES TR	275	$30,658	0.0%	HOLD
183	PHOINVESCO EXCHANGE TRADED FD T	424	$28,349	0.0%	HOLD
184	VMBSVANGUARD SCOTTSDALE FDS	590	$27,681	0.0%	HOLD
185	JPMJPMORGAN CHASE & CO	92	$27,063	0.0%	TRIM −32%
186	ARKKARK ETF TR	400	$27,036	0.0%	HOLD
187	MSMORGAN STANLEY	162	$26,661	0.0%	ADD 376%
188	VDCVANGUARD WORLD FD	115	$25,828	0.0%	HOLD
189	ESGVVanguard ESG US Stock - ETF	229	$25,710	0.0%	HOLD
190	EPIWISDOMTREE TR	621	$25,337	0.0%	HOLD
191	VOEVANGUARD INDEX FDS	135	$24,878	0.0%	HOLD
192	ADMARCHER DANIELS MIDLAND CO	333	$24,206	0.0%	HOLD
193	PEPPEPSICO INC	155	$24,070	0.0%	ADD 52%
194	IXPISHARES TR	201	$23,087	0.0%	HOLD
195	DWMFWISDOMTREE TR	674	$22,705	0.0%	ADD 3%
196	MCDMCDONALDS CORP	68	$21,134	0.0%	TRIM −3%
197	BHPBHP BILLITON LIMITED	285	$20,731	0.0%	ADD 78%
198	VCRMVANGUARD MUN BD FDS	271	$20,366	0.0%	HOLD
199	ILFISHARES TR	555	$19,714	0.0%	HOLD
200	DTEDTE ENERGY CO	128	$18,717	0.0%	HOLD

showing the top 200 by weight

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

VTIVANGUARD INDEX FDS

120K

121K

120K

117K

$38M

SCHBSCHWAB STRATEGIC TR

945K

946K

936K

887K

872K

858K

$22M

VXUSVANGUARD STAR FDS

236K

235K

239K

238K

235K

230K

$18M

BNDVANGUARD BD INDEX FDS

178K

180K

157K

154K

152K

140K

$10M

MSFTMICROSOFT CORP

28K

25K

$9M

BNDXVANGUARD CHARLOTTE FDS

233K

224K

233K

241K

239K

192K

$9M

SPTMSPDR SERIES TRUST

99K

95K

91K

93K

$7M

VEUVANGUARD INTL EQUITY INDEX F

96K

97K

96K

94K

$7M

VCRBVANGUARD MALVERN FDS

14K

83K

84K

85K

$7M

SCCRSCHWAB STRATEGIC TR

—

26K

100K

200K

241K

$6M

VTVANGUARD INTL EQUITY INDEX F

47K

45K

43K

$6M

VYMVANGUARD WHITEHALL FDS

42K

41K

39K

$6M

SPYSTATE STR SPDR S&P 500 ETF T

$6M

VWOVANGUARD INTL EQUITY INDEX F

110K

108K

105K

104K

$6M

IAGGISHARES TR

55K

59K

67K

75K

90K

107K

$5M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

☆Breakwater Investment Management