Leonardo DiCaprio and Girlfriend Kelly Rohrbach Have Split
updated 01/05/2016 AT 07:35 AM EST
•originally published 01/04/2016 AT 02:05 PM EST
"They have been broken up for a few months now," a source who knows them both tells PEOPLE. "They are very friendly and it's super amicable."
Their hectic work schedules contributed to the breakup, says the source.
"They are both so busy and he's got a big movie coming out and she's one of the biggest supermodels in the world. There is no other person in the picture."
The two spent New Year's Eve apart, with DiCaprio partying in St. Barts with a celebrity entourage while Rohrbach celebrated with family.
"Leo partied with blondes and brunettes and male buddies including Leo's longtime friend Lukas Haas," a source tells PEOPLE of his time at the popular nightclub, Nikki Beach.
DiCaprio, 41, and the Sports Illustrated model, 25, began dating over the summer, and were spotted riding around New York City on Citi bikes back in June.
The couple were never shy about showing some PDA – they were often seen kissing and holding hands while on outings.
They were last spotted together at Thanksgiving.
The breakup comes just ahead of awards season as DiCaprio is a top Oscar contender for his film The Revenant. The four-time Oscar nominee has already received positive accolades for his portrayal of an 1820s fur trapper, with both Screen Actors Guild and Golden Globe nominations.
And Rohrbach is about to take on her biggest movie role yet. She will fill Pamela Anderson's shoes as lifeguard C. J. Parker in the upcoming Baywatch big-screen reboot.
Reporting by LIZ MCNEIL