Breakwater Investment Management

CIK

2025925

Location

SEATTLE, WA

Portfolio Value

Micro $27,336,770

Diversification

Moderately concentrated

Filing Date

Global Rank

#7,134 / 8,232 ▲ 101

Top Industry

Software - Infrastructure 48.8%

3Y Alpha vs SPY

-9.5%

Period ended 2 months ago

Filed May 15, 2026 · 30d

9 quarters · since Mar 2024

Clone Performance

May 2024–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+20.6%

SPY

+43.4%

Annualised alpha

-9.5%

Max drawdown

−19.3%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

305 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

33.8%

−5.0 pts

Top 5

79.4%

−1.6 pts

Top 10

84.7%

−1.5 pts

HHI

1,871

Moderately concentrated−268

Portfolio Trend

9 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	39.1%	$10,687,563	66
Unclassified	28.1%	$7,680,486	7
Consumer Cyclical	17.9%	$4,880,017	26
Communication Services	5.0%	$1,365,228	17
Healthcare	2.7%	$746,480	32
Industrials	1.8%	$497,207	44
Financial Services	1.8%	$493,943	42
Consumer Defensive	1.6%	$448,926	20
Energy	1.4%	$382,680	15
Basic Materials	0.4%	$105,997	14
Utilities	0.1%	$36,979	11
Real Estate	0.0%	$11,264	11

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
MS	Morgan Stanley	+128	162	$26,660
BHP	BHP Group Ltd	+125	285	$20,730
QCOM	Qualcomm Inc/De	+101	104	$13,393
SBUX	Starbucks Corp	+75	1,497	$134,116
PEP	Pepsico Inc	+53	155	$24,069
EXPE	Expedia Group, Inc.	+48	50	$11,544
SPY	Spdr S&P 500 ETF Trust	+30	8,654	$5,628,042
CRM	Salesforce, Inc.	+30	36	$6,720
DIS	Walt Disney Co	+28	96	$9,252
ETN	Eaton Corp plc	+26	30	$10,730
ORCL	Oracle Corp	+7	276	$40,602
CVX	Chevron Corp	+6	459	$94,967
BOX	Box Inc	+5	21	$496
PGR	Progressive Corp/Oh/	+4	12	$2,378
DBX	Dropbox, Inc.	+3	20	$454
WCN	Waste Connections, Inc.	+3	15	$2,436
ECL	Ecolab Inc.	+2	233	$61,982
GRMN	Garmin Ltd	+2	792	$183,751
MDT	Medtronic plc	+1	6	$519
MSI	Motorola Solutions, Inc.	+1	2	$867
PAYX	Paychex Inc	+1	5	$460
CBRE	Cbre Group, Inc.	+1	4	$541
AXP	American Express Co	+1	6	$1,814
MORN	Morningstar, Inc.	+1	3	$507
ADBE	Adobe Inc.	+1	282	$68,548
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
CSCO	Cisco Systems, Inc.	−616	878	$68,124
AMZN	Amazon Com Inc	−522	20,711	$4,313,479
MSFT	Microsoft Corp	−296	24,974	$9,244,625
CMCSA	Comcast Corp	−206	81	$2,325
META	Meta Platforms, Inc.	−199	236	$135,022
MRK	Merck & Co., Inc.	−100	9	$1,082
NVDA	Nvidia Corp	−81	1,173	$204,571
V	Visa Inc.	−49	10	$3,022
JPM	Jpmorgan Chase & Co	−44	92	$27,062
XOM	Exxon Mobil Corp	−39	1,423	$241,426
BAC	Bank Of America Corp /De/	−39	2,394	$116,707
DHR	Danaher Corp /De/	−35	308	$58,396
HBAN	Huntington Bancshares Inc /Md/	−32	1	$15
MDY	Spdr S&P Midcap 400 ETF Trust	−31	349	$215,249
VLTO	Veralto Corp	−20	93	$8,223
LMT	Lockheed Martin Corp	−16	85	$51,373
STZ	Constellation Brands, Inc.	−15	4	$600
ABBV	AbbVie Inc.	−15	79	$17,181
COST	Costco Wholesale Corp /New	−15	68	$67,757
JNJ	Johnson & Johnson	−14	207	$50,599
CAT	Caterpillar Inc	−10	22	$15,586
CB	Chubb Ltd	−10	4	$1,303
LOW	Lowes Companies Inc	−10	345	$81,516
AVGO	Broadcom Inc.	−8	170	$52,616
PLTR	Palantir Technologies Inc.	−8	2,084	$304,847
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
BG	Bunge Global SA	125	$15,900
BP	Bp PLC	300	$14,100
ENB	Enbridge Inc	150	$8,121
DOW	Dow Inc.	125	$5,206
NFLX	Netflix Inc	24	$2,307
DEO	Diageo PLC	25	$1,861
DUK	Duke Energy CORP	8	$1,047
PM	Philip Morris International Inc.	6	$992
SYK	Stryker Corp	3	$985
EQIX	Equinix Inc	1	$980
BLK	BlackRock, Inc.	1	$961
SABR	Sabre Corp	511	$740
WDS	Woodside Energy Group Ltd	27	$644
TMUS	T-Mobile US, Inc.	3	$630
NET	Cloudflare, Inc.	3	$619
GWRE	Guidewire Software, Inc.	4	$598
DKS	Dick's Sporting Goods, Inc.	3	$594
SO	Southern Co	6	$579
HLI	Houlihan Lokey, Inc.	4	$574
FTNT	Fortinet, Inc.	7	$572
PCOR	Procore Technologies, Inc.	10	$570
LNG	Cheniere Energy, Inc.	2	$567
CEG	Constellation Energy Corp	2	$558
DLR	Digital Realty Trust, Inc.	3	$540
CXM	Sprinklr, Inc.	88	$528
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
LHX	L3harris Technologies, Inc. /De/	10	$2,935
ALNY	Alnylam Pharmaceuticals, Inc.	2	$795
APTV	Aptiv PLC	10	$760
IR	Ingersoll Rand Inc.	9	$712
ELV	Elevance Health, Inc.	2	$701
RDDT	Reddit, Inc.	3	$689
JLL	Jones Lang Lasalle Inc	2	$672
CRS	Carpenter Technology Corp	2	$629
SOFI	SoFi Technologies, Inc.	24	$628
LULU	lululemon athletica inc.	3	$623
STRL	Sterling Infrastructure, Inc.	2	$612
FOXA	Fox Corp	8	$584
FDS	Factset Research Systems Inc	2	$580
APO	Apollo Global Management, Inc.	4	$579
ERIE	Erie Indemnity Co	2	$573
VMC	Vulcan Materials CO	2	$570
HOOD	Robinhood Markets, Inc.	5	$565
PRU	Prudential Financial Inc	5	$564
UAL	United Airlines Holdings, Inc.	5	$559
SOLV	Solventum Corp	7	$554
WST	West Pharmaceutical Services Inc	2	$550
A	Agilent Technologies, Inc.	4	$544
LDOS	Leidos Holdings, Inc.	3	$541
ROL	Rollins Inc	9	$540
CDZI	Cadiz Inc	96	$538
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

305 positions · $27,336,770 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 305 positions by value · page 1 of 7

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
MSFT	Microsoft Corp Technology	Reduced	24,974	-296	$9,244,625	−24.4%	33.82%
SPY	Spdr S&P 500 ETF Trust	Added	8,654	+30	$5,628,042	−4.3%	20.59%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	20,711	-522	$4,313,479	−12.0%	15.78%
GLD	Spdr Gold Trust	Held	3,031	0	$1,304,208	+8.6%	4.77%
GOOGL	Alphabet Inc. Communication Services	Held	4,202	0	$1,208,327	−8.1%	4.42%
AAPL	Apple Inc. Technology	Held	1,584	0	$402,003	−6.6%	1.47%
PLTR	Palantir Technologies Inc. Technology	Reduced	2,084	-8	$304,847	−18.0%	1.12%
GSG	iShares S&P GSCI Commodity-Indexed Trust	Held	8,457	0	$272,738	+39.9%	1.00%
WMT	Walmart Inc. Consumer Defensive	Held	1,961	0	$243,713	+11.6%	0.89%
XOM	Exxon Mobil Corp Energy	Reduced	1,423	-39	$241,426	+37.2%	0.88%
MDY	Spdr S&P Midcap 400 ETF Trust	Reduced	349	-31	$215,249	−6.1%	0.79%
ISRG	Intuitive Surgical Inc Healthcare	Added	452	+1	$208,367	−18.4%	0.76%
NVDA	Nvidia Corp Technology	Reduced	1,173	-81	$204,571	−12.5%	0.75%
GRMN	Garmin Ltd Technology	Added	792	+2	$183,751	+14.7%	0.67%
OMER	Omeros Corp Healthcare	Held	17,048	0	$180,026	−38.5%	0.66%
TMO	Thermo Fisher Scientific Inc. Healthcare	Reduced	357	-2	$175,476	−15.6%	0.64%
META	Meta Platforms, Inc. Communication Services	Reduced	236	-199	$135,022	−53.0%	0.49%
SBUX	Starbucks Corp Consumer Cyclical	Added	1,497	+75	$134,116	+12.0%	0.49%
IAU	Ishares Gold Trust	Held	1,480	0	$130,476	+8.6%	0.48%
FLR	Fluor Corp Industrials	Held	2,700	0	$125,955	+17.7%	0.46%
QQQ	Invesco Qqq Trust, Series 1	Held	208	0	$120,053	−6.0%	0.44%
HLT	Hilton Worldwide Holdings Inc. Consumer Cyclical	Held	394	0	$119,807	+5.9%	0.44%
BAC	Bank Of America Corp /De/ Financial Services	Reduced	2,394	-39	$116,707	−12.8%	0.43%
AMP	Ameriprise Financial Inc Financial Services	Held	262	0	$116,432	−9.4%	0.43%
CVX	Chevron Corp Energy	Added	459	+6	$94,967	+37.6%	0.35%
MA	Mastercard Inc Financial Services	Held	178	0	$88,939	−12.5%	0.33%
TJX	Tjx Companies Inc /De/ Consumer Cyclical	Held	524	0	$83,682	+4.0%	0.31%
HD	Home Depot, Inc. Consumer Cyclical	Held	250	0	$82,222	−4.4%	0.30%
LOW	Lowes Companies Inc Consumer Cyclical	Reduced	345	-10	$81,516	−4.8%	0.30%
ROK	Rockwell Automation, Inc Industrials	Held	226	0	$81,106	−7.8%	0.30%
ICE	Intercontinental Exchange, Inc. Financial Services	Held	483	0	$75,966	−2.9%	0.28%
BA	Boeing Co Industrials	Held	351	0	$69,859	−8.3%	0.26%
ADBE	Adobe Inc. Technology	Added	282	+1	$68,548	−30.3%	0.25%
CSCO	Cisco Systems, Inc. Technology	Reduced	878	-616	$68,124	−40.8%	0.25%
COST	Costco Wholesale Corp /New Consumer Defensive	Reduced	68	-15	$67,757	−5.3%	0.25%
ECL	Ecolab Inc. Basic Materials	Added	233	+2	$61,982	+2.2%	0.23%
DHR	Danaher Corp /De/ Healthcare	Reduced	308	-35	$58,396	−25.6%	0.21%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	366	-6	$52,865	−0.8%	0.19%
AVGO	Broadcom Inc. Technology	Reduced	170	-8	$52,616	−14.6%	0.19%
HON	Honeywell International Inc Industrials	Held	228	0	$51,534	+15.9%	0.19%
LMT	Lockheed Martin Corp Industrials	Reduced	85	-16	$51,373	+5.2%	0.19%
JNJ	Johnson & Johnson Healthcare	Reduced	207	-14	$50,599	+10.6%	0.19%
ACN	Accenture plc Technology	Reduced	235	-1	$46,598	−26.4%	0.17%
ORCL	Oracle Corp Technology	Added	276	+7	$40,602	−22.6%	0.15%
ITW	Illinois Tool Works Inc Industrials	Held	126	0	$32,796	+5.7%	0.12%
LLY	ELI LILLY & Co Healthcare	Held	35	0	$32,191	−14.4%	0.12%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	92	-44	$27,062	−38.2%	0.10%
MS	Morgan Stanley Financial Services	Added	162	+128	$26,660	+341.7%	0.10%
ADM	Archer-Daniels-Midland Co Consumer Defensive	Held	333	0	$24,205	+26.4%	0.09%
PEP	Pepsico Inc Consumer Defensive	Added	155	+53	$24,069	+64.4%	0.09%