Instuitional Investor - Breakwater Investment Management

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Vanguard Index Fds		120,969	$33,247,148	14.2%
2.	Schwab Strategic Trust	FNDF	946,272	$20,373,237	8.7%
3.	Vanguard Star Fds		234,990	$14,592,898	6.23%
4.	Vanguard Bond Index Funds	BND	179,815	$13,207,412	5.64%
5.	Vanguard Charlotte Fds - TOTAL INT BD ETF		223,837	$10,927,736	4.67%