Breakwater Investment Management

CIK

2025925

Location

SEATTLE, WA

Portfolio Value

Micro $448,926

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

20 positions · $448,926 total · Consumer Defensive only · as of Mar 31, 2026

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

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
WMT	Walmart Inc. Consumer Defensive	Held	1,961	0	$243,713	+11.6%	54.29%
COST	Costco Wholesale Corp /New Consumer Defensive	Reduced	68	-15	$67,757	−5.3%	15.09%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	366	-6	$52,865	−0.8%	11.78%
ADM	Archer-Daniels-Midland Co Consumer Defensive	Held	333	0	$24,205	+26.4%	5.39%
PEP	Pepsico Inc Consumer Defensive	Added	155	+53	$24,069	+64.4%	5.36%
BG	Bunge Global SA Consumer Defensive	NEW	125	NEW	$15,900	NEW	3.54%
MDLZ	Mondelez International, Inc. Consumer Defensive	Reduced	105	-7	$6,052	+0.4%	1.35%
KO	Coca Cola Co Consumer Defensive	Reduced	79	-8	$6,007	−1.2%	1.34%
DEO	Diageo PLC Consumer Defensive	NEW	25	NEW	$1,861	NEW	0.41%
PM	Philip Morris International Inc. Consumer Defensive	NEW	6	NEW	$992	NEW	0.22%
TGT	Target Corp Consumer Defensive	Held	6	0	$727	+24.1%	0.16%
STZ	Constellation Brands, Inc. Consumer Defensive	Reduced	4	-15	$600	−77.1%	0.13%
MNST	Monster Beverage Corp Consumer Defensive	Held	8	0	$579	−5.5%	0.13%
CHD	Church & Dwight Co Inc /De/ Consumer Defensive	Held	6	0	$559	+11.1%	0.12%
KVUE	Kenvue Inc. Consumer Defensive	Held	31	0	$534	0.0%	0.12%
MO	Altria Group, Inc. Consumer Defensive	NEW	8	NEW	$527	NEW	0.12%
CLX	Clorox Co /De/ Consumer Defensive	NEW	5	NEW	$518	NEW	0.12%
CL	Colgate Palmolive Co Consumer Defensive	Held	6	0	$511	+7.8%	0.11%
KDP	Keurig Dr Pepper Inc. Consumer Defensive	Held	19	0	$500	−6.0%	0.11%
INGR	Ingredion Inc Consumer Defensive	Held	4	0	$450	+2.0%	0.10%