Breakwater Investment Management

Q3 2025 13F-HR Holdings

Location
Seattle, WA
Holdings as of
9/30/2025
Date filed
10/3/2025
Form type
13F-HR
Num holdings
530
Total value ($000)
$271,215
Net value change ($000)
+12,734 (4.9%)
New positions
229
Sold out positions
9
Turnover %
0.1%
Sector allocation + QoQ delta (equities-only)
Prev filing: 7/9/2025 Next filing: 2/2/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
VTI 2,824 7.7%
VXUS 992 6.0%
SCMB 780 318.4%
MSFT 593 4.3%
SPTM 544 7.7%
SCHB 504 2.3%
VWO 453 8.4%
SPY 419 7.8%
IAGG 416 12.1%
BNDX 384 3.3%
Top Reduces (Value $000, Stocks/ETFs)
PLTR -606 -61.3%
SCHZ -341 -8.9%
VGSH -260 -7.3%
MUB -244 -21.6%
SCHO -192 -6.3%
SCHD -138 -3.5%
INDY -123 -88.5%
EUHY -100 -5.7%
BND -97 -0.8%
IWB -92 -74.8%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
Filter:
Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type