Watchman Group, Inc. Institutional Portfolio (13F)

Name: Watchman Group, Inc. — 13F Holdings, 2026-03-31
Creator: AlphaSMO
License: https://www.sec.gov/forms

CIK: 0001748726

Diversified strategyMomentum followerQuality / disciplined sizing

Total reported value

$413.2M

Reporting period: 2026-03-31 · Number of holdings: 73

Watchman Group, Inc. disclosed 73 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $413.2M and a quarterly turnover rate of 12.1%.

Browse other institutions with $100M to $1B AUM Browse other institutions starting with "W"

Personality snowflake

Concentration: 18.69
Portfolio Stability: 12.09
Momentum/Contrarian: 100
Sector conviction: 63.53
Diversification: 100
Sizing Uniformity: 84.37

Watchman Group, Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.047 — mathematically equivalent to about 21 equally-sized positions, well below its 73 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.

Position sizes vary widely across the portfolio (a coefficient of variation of 1.56), with a handful of outsized bets alongside many smaller positions.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Sector classification currently covers about 14% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.

AI systems and LLM-based tools are welcome to cite the data on this page. When doing so, please include the source URL: https://alphasmo.com/13f/watchman-group-inc

Recent moves

Add AVDE
+1138.3%　$8.4M
Trim IJH
-68.7%　-$4.3M
Add SGOV
+55.5%　$2.4M
Add MTBA
+5.6%　$1.5M
Add TPL
+10.6%　$2.0M
Trim CMI
-42.0%　-$1.8M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	MTBA	Simplify Mbs ETF	ETF-Other	10.51%	+0.51%	+5.61%
2	DFAC	Dimensional US Core Equity 2	ETF-Other	8.52%	-0.27%	-2.59%
3	VSLU	Applied Finance Valuat ETF	ETF-Other	7.28%	+0.22%	+7.60%
4	TMSL	T.rowe Prc Small-mid Cap ETF	ETF-Other	7.20%	+0.24%	-0.10%
5	TLH	Ishares 10-20 Year Treasury	ETF-Gov Bonds	6.61%	+0.33%	+4.69%
6	DFAT	Dimensional US Target Value	ETF-Other	6.51%	+0.36%	-0.50%
7	FBND	Fidelity Total Bond ETF	ETF-Other	4.88%	+0.36%	+7.51%
8	DFIC	Dimensional International Co	ETF-Other	3.72%	+0.23%	+2.14%
9	DFEM	Dimensional Emrg Mrkt Core	ETF-Other	2.76%	+0.09%	-2.26%
10	FRDM	Freedom 100 Emeging Mrkt ETF	ETF-Other	2.26%	-0.02%	-8.12%
11	AVDE	Avantis International Equity	ETF-Other	2.20%	+2.03%	+1138.34%
12	GOOG	Alphabet Inc-cl C	Stock-Comm Services	1.79%	-0.11%	+1.20%
13	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	1.73%	-0.06%	-0.01%
14	SGOV	Ishares 0-3 Month Treasury B	ETF-Gov Bonds	1.63%	+0.60%	+55.50%
15	TSLA	Tesla INC	Stock-Consumer Disc	1.45%	-0.28%	+0.16%
16	APH	Amphenol Corp-cl A	Stock-Tech	1.39%	-0.23%	-9.92%
17	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	1.37%	-0.13%	-1.34%
18	MSFT	Microsoft CORP	Stock-Tech	1.21%	-0.30%	+3.52%
19	SYK	Stryker CORP	Stock-Healthcare	1.21%	-0.06%	+0.46%
20	WAB	Wabtec CORP	Stock-Industrials	1.20%	+0.13%	-5.31%
21	TPL	Texas Pacific Land CORP	Stock-Energy	1.09%	+0.50%	+10.60%
22	GD	General Dynamics CORP	Stock-Industrials	1.08%	-0.03%	-5.54%
23	V	Visa Inc-class A Shares	Stock-Financials	1.07%	-0.14%	+0.83%
24	CSL	Carlisle Cos INC	Stock-Industrials	1.06%	+0.05%	-0.38%
25	CAVA	Cava Group INC	Stock-Consumer Disc	1.06%	+0.31%	+0.66%
26	MKL	Markel Group INC	Stock-Financials	1.03%	-0.15%	-2.94%
27	PCAR	Paccar INC	Stock-Industrials	1.01%	—	-5.62%
28	AMZN	Amazon.com INC	Stock-Consumer Disc	1.01%	-0.08%	+0.80%
29	DHI	Dr Horton INC	Stock-Consumer Disc	0.90%	-0.03%	-0.12%
30	CVCO	Cavco Industries INC	Stock-Consumer Disc	0.90%	-0.19%	-0.53%
31	UBER	Uber Technologies INC	Stock-Industrials	0.86%	-0.03%	+8.70%
32	LOW	Lowe's Cos INC	Stock-Consumer Disc	0.85%	-0.04%	-4.54%
33	UFPI	Ufp Industries INC	Stock-Materials	0.85%	+0.07%	+5.95%
34	INTU	Intuit INC	Stock-Tech	0.76%	-0.30%	+7.41%
35	NXPI	NXP Semiconductors N.V.	Stock-Tech	0.74%	—	+9.93%
36	ACN	Accenture plc	Stock-Tech	0.72%	-0.21%	+4.44%
37	A	Agilent Technologies INC	Stock-Healthcare	0.71%	-0.15%	-2.34%
38	META	Meta Platforms Inc-class A	Stock-Comm Services	0.70%	-0.10%	+0.30%
39	AMD	Advanced Micro Devices	Stock-Tech	0.69%	-0.04%	-1.46%
40	CMI	Cummins INC	Stock-Industrials	0.69%	-0.43%	-41.95%
41	EMTL	Ss Doubleline Em Fi ETF	ETF-Other	0.69%	—	+5.89%
42	FFIN	First Finl Bankshares INC	Stock-Financials	0.68%	-0.02%	-2.51%
43	NVR	Nvr INC	Stock-Consumer Disc	0.60%	-0.07%	-3.10%
44	SFBS	Servisfirst Bancshares INC	Stock-Financials	0.58%	—	-2.90%
45	IUSG	Ishares Core S&p U.s. Growth	ETF-Other	0.57%	-0.05%	-0.47%
46	IJH	Ishares Core S&p Midcap ETF	ETF-Other	0.49%	-1.03%	-68.73%
47	USFR	Wisdomtree Floating Rate Tre	ETF-Other	0.34%	-0.18%	-36.29%
48	IJK	Ishares S&p Mid-cap 400 Grow	ETF-Other	0.31%	—	-7.49%
49	WMT	Walmart INC	Stock-Consumer Staples	0.24%	—	+0.43%
50	VOO	Vanguard S&p 500 ETF	ETF-Large Cap & Growth	0.20%	—	-1.70%

1–50 of 73

Portfolio Performance

Performance for Q3 2026

+0.5%

Performance Last 4 Quarters

+11.9%

Based on 59% of reported portfolio value with available pricing

Stdev: +11.7%
Beta: +0.8
Alpha: -2.7%
Max Drawdown: -6.4%
Annualized Perf: +11.3%
Batting Avg vs S&P: +33.3%
Sortino: +1.84
Stutzer: +0.29
Treynor: +0.14
Sterling: +0.69
Calmar: +1.75
Information Ratio: -1.24
Tracking Error: +5.1%
Stdev Down: +6.2%
Winning Months %: +60%
Losing Months %: +40%
Best 12 Months: +20.2%
Worst 12 Months: +8.8%
Efficiency Ratio: +0.37
Sharpe: +0.97
Stdev Sectors: +10.4%
Skewness: +0.18
Kurtosis: -0.26
Upside Potential: +3.58

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	73	$413.2M	12	1MTBA 2DFAC 3VSLU Top holdings2026-03-31 1.MTBA 2.DFAC 3.VSLU 4.TMSL 5.TLH 6.DFAT 7.FBND 8.DFIC 9.DFEM 10.FRDM
2025-12-31	77	$418.9M	12	1MTBA 2DFAC 3VSLU Top holdings2025-12-31 1.MTBA 2.DFAC 3.VSLU 4.TMSL 5.TLH 6.DFAT 7.FBND 8.DFIC 9.DFEM 10.FRDM
2025-09-30	78	$413.1M	34	1MTBA 2DFAC 3TMSL Top holdings2025-09-30 1.MTBA 2.DFAC 3.TMSL 4.VSLU 5.TLH 6.DFAT 7.FBND 8.DFIC 9.DFEM 10.FRDM
2025-06-30	77	$383.6M	0	1MTBA 2DFAC 3TMSL Top holdings2025-06-30 1.MTBA 2.DFAC 3.TMSL 4.TLH 5.VSLU 6.DFAT 7.FBND 8.DFIC 9.DFEM 10.SGOV
2025-03-31	80	$356.8M	100	1MTBA 2DFAC 3TMSL Top holdings2025-03-31 1.MTBA 2.DFAC 3.TMSL 4.DFAT 5.VSLU 6.IEI 7.DFIC 8.FBND 9.SHY 10.DFEM
2024-12-31	84	$380.8M	0	1SHY 2DFAC 3MTBA Top holdings2024-12-31 1.SHY 2.DFAC 3.MTBA 4.DFAT 5.TMSL 6.VSLU 7.DFIC 8.DFEM 9.FBND 10.IJH
2024-09-30	81	$383.6M	0	1SHY 2DFAC 3MTBA Top holdings2024-09-30 1.SHY 2.DFAC 3.MTBA 4.DFAT 5.TMSL 6.VSLU 7.DFIC 8.DFEM 9.FBND 10.SGOV
2024-06-30	79	$313.2M	0	1DFAC 2SHY 3MTBA Top holdings2024-06-30 1.DFAC 2.SHY 3.MTBA 4.DFAT 5.DFEM 6.FBND 7.FRDM 8.MSFT 9.BRK-B 10.SYK
2024-03-31	83	$330.9M	0	1DFAC 2TBLL 3BSV Top holdings2024-03-31 1.DFAC 2.TBLL 3.BSV 4.DFAT 5.DFIC 6.DFEM 7.FBND 8.BRK-B 9.FRDM 10.MSFT
2023-12-31	78	$303.4M	0	1BSV 2DFAC 3DFAT Top holdings2023-12-31 1.BSV 2.DFAC 3.DFAT 4.TBLL 5.DFIC 6.DFEM 7.FBND 8.BRK-B 9.FRDM 10.MSFT
2023-09-30	72	$235.4M	0	1BSV 2DFAC 3DFAT Top holdings2023-09-30 1.BSV 2.DFAC 3.DFAT 4.DFEM 5.BRK-B 6.VTEB 7.FRDM 8.MSFT 9.SYK 10.LOW
2023-06-30	65	$201.8M	0	1BSV 2DFAT 3DFEM Top holdings2023-06-30 1.BSV 2.DFAT 3.DFEM 4.MSFT 5.BRK-B 6.SYK 7.VTEB 8.LOW 9.PCAR 10.LKQ
2023-03-31	66	$191.7M	0	1BSV 2VCIT 3DFAT Top holdings2023-03-31 1.BSV 2.VCIT 3.DFAT 4.DFEM 5.MSFT 6.BRK-B 7.SYK 8.IJH 9.LOW 10.LKQ
2022-12-31	67	$181.1M	0	1BSV 2VCIT 3DFAT Top holdings2022-12-31 1.BSV 2.VCIT 3.DFAT 4.DFEM 5.BRK-B 6.IJH 7.SYK 8.LOW 9.GD 10.MSFT
2022-09-30	68	$159.0M	0	1BSV 2VCIT 3DFAT Top holdings2022-09-30 1.BSV 2.VCIT 3.DFAT 4.BRK-B 5.MSFT 6.VCSH 7.LOW 8.JNJ 9.GD 10.SYK
2022-06-30	68	$162.2M	0	1VCIT 2BSV 3DFAT Top holdings2022-06-30 1.VCIT 2.BSV 3.DFAT 4.VCSH 5.MSFT 6.BRK-B 7.JNJ 8.GD 9.LOW 10.LKQ
2022-03-31	73	$168.6M	0	1DFAT 2BRK-B 3DFAU Top holdings2022-03-31 1.DFAT 2.BRK-B 3.DFAU 4.MSFT 5.VCSH 6.SYK 7.UNP 8.LOW 9.GD 10.JNJ
2021-12-31	79	$190.8M	0	1VCSH 2MSFT 3DFAT Top holdings2021-12-31 1.VCSH 2.MSFT 3.DFAT 4.LOW 5.VGSH 6.INTU 7.BRK-B 8.META 9.ACN 10.QCOM
2021-09-30	70	$155.2M	0	1VCSH 2META 3PYPL Top holdings2021-09-30 1.VCSH 2.META 3.PYPL 4.INTU 5.MSFT 6.SYK 7.BRK-B 8.LOW 9.ACN 10.SWKS
2021-06-30	73	$171.3M	97	1INTU 2VCSH 3PYPL Top holdings2021-06-30 1.INTU 2.VCSH 3.PYPL 4.META 5.BRK-B 6.SWKS 7.MSFT 8.SYK 9.LOW 10.FDX
2021-03-31	76	$162.2M	13	1VCSH 2META 3PYPL Top holdings2021-03-31 1.VCSH 2.META 3.PYPL 4.INTU 5.SWKS 6.LOW 7.BRK-B 8.SYK 9.DHI 10.FDX
2020-12-31	74	$150.7M	17	1INTU 2PYPL 3META Top holdings2020-12-31 1.INTU 2.PYPL 3.META 4.SYK 5.BRK-B 6.SWKS 7.MSFT 8.V 9.LOW 10.FDX
2020-09-30	75	$135.4M	18	1META 2INTU 3LOW Top holdings2020-09-30 1.META 2.INTU 3.LOW 4.PYPL 5.FDX 6.SYK 7.SWKS 8.MSFT 9.BRK-B 10.V
2020-06-30	78	$120.4M	38	1INTU 2META 3MSFT Top holdings2020-06-30 1.INTU 2.META 3.MSFT 4.PYPL 5.LOW 6.V 7.SYK 8.SWKS 9.BRK-B 10.JNJ
2020-03-31	73	$97.1M	44	1MSFT 2INTU 3PEP Top holdings2020-03-31 1.MSFT 2.INTU 3.PEP 4.BRK-B 5.SYK 6.META 7.V 8.JNJ 9.PYPL 10.AMGN
2019-12-31	79	$134.3M	0	1MSFT 2SYK 3BRK-B Top holdings2019-12-31 1.MSFT 2.SYK 3.BRK-B 4.PEP 5.INTU 6.AFL 7.DIS 8.KRE 9.META 10.JNJ

Holding changes this quarter

Watchman Group, Inc.'s most significant position changes for 2026-03-31: Sold out: Resmed INC (RMD); Sold out: Vanguard Tax-exempt Bond ETF (VTEB); Sold out: Ring Energy INC (REI); Sold out: Bny Mellon US Lrg Cap Cor (BKLC); Add: Avantis International Equity (AVDE) — shares +1138.34%.

Position changes disclosed by Watchman Group, Inc. for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	AVDE	Avantis International Equity	+2%	+1138.34%	Add
2	SGOV	Ishares 0-3 Month Treasury B	+0.6%	+55.50%	Add
3	MTBA	Simplify Mbs ETF	+0.5%	+5.61%	Add
4	TPL	Texas Pacific Land CORP	+0.5%	+10.60%	Add
5	FBND	Fidelity Total Bond ETF	+0.4%	+7.51%	Add
6	DFAT	Dimensional US Target Value	+0.4%	-0.50%	Trim
7	TLH	Ishares 10-20 Year Treasury	+0.3%	+4.69%	Add
8	CAVA	Cava Group INC	+0.3%	+0.66%	Add
9	TMSL	T.rowe Prc Small-mid Cap ETF	+0.2%	-0.10%	Trim
10	DFIC	Dimensional International Co	+0.2%	+2.14%	Add
11	VSLU	Applied Finance Valuat ETF	+0.2%	+7.60%	Add
12	WAB	Wabtec CORP	+0.1%	-5.31%	Trim
13	DFEM	Dimensional Emrg Mrkt Core	+0.1%	-2.26%	Trim
14	UFPI	Ufp Industries INC	+0.1%	+5.95%	Add
15	CSL	Carlisle Cos INC	+0.1%	-0.38%	Trim
16	FRDM	Freedom 100 Emeging Mrkt ETF	0%	-8.12%	Trim
17	RAVE	Rave Restaurant Group INC	0%	—	Unchanged
18	FFIN	First Finl Bankshares INC	0%	-2.51%	Trim
19	DHI	Dr Horton INC	0%	-0.12%	Trim
20	GD	General Dynamics CORP	0%	-5.54%	Trim
21	UBER	Uber Technologies INC	0%	+8.70%	Add
22	BTCO	Invsco Glxy Btcn ETF	0%	—	Unchanged
23	LOW	Lowe's Cos INC	0%	-4.54%	Trim
24	AMD	Advanced Micro Devices	0%	-1.46%	Trim
25	IUSG	Ishares Core S&p U.s. Growth	-0.1%	-0.47%	Trim
26	BRK-B	Berkshire Hathaway Inc-cl B	-0.1%	-0.01%	Trim
27	SYK	Stryker CORP	-0.1%	+0.46%	Add
28	NVR	Nvr INC	-0.1%	-3.10%	Trim
29	AMZN	Amazon.com INC	-0.1%	+0.80%	Add
30	META	Meta Platforms Inc-class A	-0.1%	+0.30%	Add
31	GOOG	Alphabet Inc-cl C	-0.1%	+1.20%	Add
32	GOOGL	Alphabet Inc-cl A	-0.1%	-1.34%	Trim
33	V	Visa Inc-class A Shares	-0.1%	+0.83%	Add
34	MKL	Markel Group INC	-0.2%	-2.94%	Trim
35	A	Agilent Technologies INC	-0.2%	-2.34%	Trim
36	USFR	Wisdomtree Floating Rate Tre	-0.2%	-36.29%	Trim
37	CVCO	Cavco Industries INC	-0.2%	-0.53%	Trim
38	ACN	Accenture plc	-0.2%	+4.44%	Add
39	APH	Amphenol Corp-cl A	-0.2%	-9.92%	Trim
40	EFG	Ishares Msci Eafe Growth ETF	-0.2%	-81.57%	Trim
41	DFAC	Dimensional US Core Equity 2	-0.3%	-2.59%	Trim
42	TSLA	Tesla INC	-0.3%	+0.16%	Add
43	INTU	Intuit INC	-0.3%	+7.41%	Add
44	MSFT	Microsoft CORP	-0.3%	+3.52%	Add
45	CMI	Cummins INC	-0.4%	-41.95%	Trim
46	IJH	Ishares Core S&p Midcap ETF	-1%	-68.73%	Trim
47	RMD	Resmed INC	—	EXIT	Sold out
48	VTEB	Vanguard Tax-exempt Bond ETF	—	EXIT	Sold out
49	REI	Ring Energy INC	—	EXIT	Sold out
50	BKLC	Bny Mellon US Lrg Cap Cor	—	EXIT	Sold out

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-04-20	13F-HR	View on EDGAR
2025-12-31	2026-02-06	13F-HR	View on EDGAR
2025-09-30	2025-11-13	13F-HR	View on EDGAR
2025-06-30	2025-08-12	13F-HR	View on EDGAR
2025-03-31	2025-05-13	13F-HR	View on EDGAR
2024-12-31	2025-02-12	13F-HR	View on EDGAR
2024-09-30	2024-11-12	13F-HR	View on EDGAR
2024-06-30	2024-08-14	13F-HR	View on EDGAR
2024-03-31	2024-05-09	13F-HR	View on EDGAR
2023-12-31	2024-02-13	13F-HR	View on EDGAR
2023-09-30	2023-11-09	13F-HR	View on EDGAR
2023-06-30	2023-08-10	13F-HR	View on EDGAR
2023-03-31	2023-05-11	13F-HR	View on EDGAR
2022-12-31	2023-02-09	13F-HR	View on EDGAR
2022-09-30	2022-11-15	13F-HR	View on EDGAR
2022-06-30	2022-08-11	13F-HR	View on EDGAR
2022-03-31	2022-05-16	13F-HR	View on EDGAR
2021-12-31	2022-02-11	13F-HR	View on EDGAR
2021-09-30	2021-11-09	13F-HR	View on EDGAR
2021-06-30	2021-08-05	13F-HR	View on EDGAR
2021-03-31	2021-05-05	13F-HR	View on EDGAR
2020-12-31	2021-02-01	13F-HR	View on EDGAR
2020-09-30	2020-11-03	13F-HR	View on EDGAR
2020-06-30	2020-07-07	13F-HR	View on EDGAR
2020-03-31	2020-04-28	13F-HR	View on EDGAR
2019-12-31	2020-02-12	13F-HR	View on EDGAR

FAQ

What is Watchman Group, Inc. and what type of investor is it?

Watchman Group, Inc. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $413.2M, spread across 73 disclosed positions.

What are Watchman Group, Inc.'s largest equity positions?

Based on the latest 13F filing, Watchman Group, Inc.'s top holdings by market value are: 1. Simplify Mbs ETF (MTBA) — $43.4M (10.5%) 2. Dimensional US Core Equity 2 (DFAC) — $35.2M (8.5%) 3. Applied Finance Valuat ETF (VSLU) — $30.1M (7.3%) 4. T.rowe Prc Small-mid Cap ETF (TMSL) — $29.7M (7.2%) 5. Ishares 10-20 Year Treasury (TLH) — $27.3M (6.6%)

What changes did Watchman Group, Inc. make in its most recent portfolio filing?

In the latest reported quarter, Watchman Group, Inc. made 48 notable position adjustments: 0 new positions were initiated, 20 existing holdings were added to, 24 positions were partially reduced, and 4 were completely exited. The largest of these moves: Sold out: Resmed INC (RMD); Sold out: Vanguard Tax-exempt Bond ETF (VTEB); Sold out: Ring Energy INC (REI); Sold out: Bny Mellon US Lrg Cap Cor (BKLC); Add: Avantis International Equity (AVDE) — shares +1138.34%

What sectors does Watchman Group, Inc. focus on?

Watchman Group, Inc. is concentrated in the following sectors based on its current disclosed equity portfolio: • Communication Services: 26.7% • Consumer Discretionary: 23.6% • Information Technology: 20.7% • Financials: 19.4% • Industrials: 6.0% • Consumer Staples: 2.2%

Peer Institutions

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Outlook Wealth Advisors, LLC

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Concentration5.5

Portfolio Stability38.1

Sector conviction81.7

AUM within 0.0% of this institution

View detail

Square Wave Capital, LLC

CIK 0002077145

Total reported value

$413.4M

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Concentration46.6

Portfolio Stability82.9

Sector conviction67.7

AUM within 0.0% of this institution

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Varenne Capital Partners

CIK 0001902567

Total reported value

$413.0M

30 stks

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Concentration29.5

Portfolio Stability92.9

Sector conviction100.0

AUM within 0.0% of this institution

View detail

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Watchman Group, Inc. Institutional Portfolio (13F)

CIK: 0001748726

Diversified strategyMomentum followerQuality / disciplined sizing

Total reported value

$413.2M

Reporting period: 2026-03-31 · Number of holdings: 73

Watchman Group, Inc. disclosed 73 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $413.2M and a quarterly turnover rate of 12.1%.

Browse other institutions with $100M to $1B AUM Browse other institutions starting with "W"

Personality snowflake

Concentration: 18.69
Portfolio Stability: 12.09
Momentum/Contrarian: 100
Sector conviction: 63.53
Diversification: 100
Sizing Uniformity: 84.37

Position sizes vary widely across the portfolio (a coefficient of variation of 1.56), with a handful of outsized bets alongside many smaller positions.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

AI systems and LLM-based tools are welcome to cite the data on this page. When doing so, please include the source URL: https://alphasmo.com/13f/watchman-group-inc

Recent moves

Add AVDE
+1138.3%　$8.4M
Trim IJH
-68.7%　-$4.3M
Add SGOV
+55.5%　$2.4M
Add MTBA
+5.6%　$1.5M
Add TPL
+10.6%　$2.0M
Trim CMI
-42.0%　-$1.8M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	MTBA	Simplify Mbs ETF	ETF-Other	10.51%	+0.51%	+5.61%
2	DFAC	Dimensional US Core Equity 2	ETF-Other	8.52%	-0.27%	-2.59%
3	VSLU	Applied Finance Valuat ETF	ETF-Other	7.28%	+0.22%	+7.60%
4	TMSL	T.rowe Prc Small-mid Cap ETF	ETF-Other	7.20%	+0.24%	-0.10%
5	TLH	Ishares 10-20 Year Treasury	ETF-Gov Bonds	6.61%	+0.33%	+4.69%
6	DFAT	Dimensional US Target Value	ETF-Other	6.51%	+0.36%	-0.50%
7	FBND	Fidelity Total Bond ETF	ETF-Other	4.88%	+0.36%	+7.51%
8	DFIC	Dimensional International Co	ETF-Other	3.72%	+0.23%	+2.14%
9	DFEM	Dimensional Emrg Mrkt Core	ETF-Other	2.76%	+0.09%	-2.26%
10	FRDM	Freedom 100 Emeging Mrkt ETF	ETF-Other	2.26%	-0.02%	-8.12%
11	AVDE	Avantis International Equity	ETF-Other	2.20%	+2.03%	+1138.34%
12	GOOG	Alphabet Inc-cl C	Stock-Comm Services	1.79%	-0.11%	+1.20%
13	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	1.73%	-0.06%	-0.01%
14	SGOV	Ishares 0-3 Month Treasury B	ETF-Gov Bonds	1.63%	+0.60%	+55.50%
15	TSLA	Tesla INC	Stock-Consumer Disc	1.45%	-0.28%	+0.16%
16	APH	Amphenol Corp-cl A	Stock-Tech	1.39%	-0.23%	-9.92%
17	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	1.37%	-0.13%	-1.34%
18	MSFT	Microsoft CORP	Stock-Tech	1.21%	-0.30%	+3.52%
19	SYK	Stryker CORP	Stock-Healthcare	1.21%	-0.06%	+0.46%
20	WAB	Wabtec CORP	Stock-Industrials	1.20%	+0.13%	-5.31%
21	TPL	Texas Pacific Land CORP	Stock-Energy	1.09%	+0.50%	+10.60%
22	GD	General Dynamics CORP	Stock-Industrials	1.08%	-0.03%	-5.54%
23	V	Visa Inc-class A Shares	Stock-Financials	1.07%	-0.14%	+0.83%
24	CSL	Carlisle Cos INC	Stock-Industrials	1.06%	+0.05%	-0.38%
25	CAVA	Cava Group INC	Stock-Consumer Disc	1.06%	+0.31%	+0.66%
26	MKL	Markel Group INC	Stock-Financials	1.03%	-0.15%	-2.94%
27	PCAR	Paccar INC	Stock-Industrials	1.01%	—	-5.62%
28	AMZN	Amazon.com INC	Stock-Consumer Disc	1.01%	-0.08%	+0.80%
29	DHI	Dr Horton INC	Stock-Consumer Disc	0.90%	-0.03%	-0.12%
30	CVCO	Cavco Industries INC	Stock-Consumer Disc	0.90%	-0.19%	-0.53%
31	UBER	Uber Technologies INC	Stock-Industrials	0.86%	-0.03%	+8.70%
32	LOW	Lowe's Cos INC	Stock-Consumer Disc	0.85%	-0.04%	-4.54%
33	UFPI	Ufp Industries INC	Stock-Materials	0.85%	+0.07%	+5.95%
34	INTU	Intuit INC	Stock-Tech	0.76%	-0.30%	+7.41%
35	NXPI	NXP Semiconductors N.V.	Stock-Tech	0.74%	—	+9.93%
36	ACN	Accenture plc	Stock-Tech	0.72%	-0.21%	+4.44%
37	A	Agilent Technologies INC	Stock-Healthcare	0.71%	-0.15%	-2.34%
38	META	Meta Platforms Inc-class A	Stock-Comm Services	0.70%	-0.10%	+0.30%
39	AMD	Advanced Micro Devices	Stock-Tech	0.69%	-0.04%	-1.46%
40	CMI	Cummins INC	Stock-Industrials	0.69%	-0.43%	-41.95%
41	EMTL	Ss Doubleline Em Fi ETF	ETF-Other	0.69%	—	+5.89%
42	FFIN	First Finl Bankshares INC	Stock-Financials	0.68%	-0.02%	-2.51%
43	NVR	Nvr INC	Stock-Consumer Disc	0.60%	-0.07%	-3.10%
44	SFBS	Servisfirst Bancshares INC	Stock-Financials	0.58%	—	-2.90%
45	IUSG	Ishares Core S&p U.s. Growth	ETF-Other	0.57%	-0.05%	-0.47%
46	IJH	Ishares Core S&p Midcap ETF	ETF-Other	0.49%	-1.03%	-68.73%
47	USFR	Wisdomtree Floating Rate Tre	ETF-Other	0.34%	-0.18%	-36.29%
48	IJK	Ishares S&p Mid-cap 400 Grow	ETF-Other	0.31%	—	-7.49%
49	WMT	Walmart INC	Stock-Consumer Staples	0.24%	—	+0.43%
50	VOO	Vanguard S&p 500 ETF	ETF-Large Cap & Growth	0.20%	—	-1.70%

1–50 of 73

Portfolio Performance

Performance for Q3 2026

+0.5%

Performance Last 4 Quarters

+11.9%

Based on 59% of reported portfolio value with available pricing

Stdev: +11.7%
Beta: +0.8
Alpha: -2.7%
Max Drawdown: -6.4%
Annualized Perf: +11.3%
Batting Avg vs S&P: +33.3%
Sortino: +1.84
Stutzer: +0.29
Treynor: +0.14
Sterling: +0.69
Calmar: +1.75
Information Ratio: -1.24
Tracking Error: +5.1%
Stdev Down: +6.2%
Winning Months %: +60%
Losing Months %: +40%
Best 12 Months: +20.2%
Worst 12 Months: +8.8%
Efficiency Ratio: +0.37
Sharpe: +0.97
Stdev Sectors: +10.4%
Skewness: +0.18
Kurtosis: -0.26
Upside Potential: +3.58

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	73	$413.2M	12	1MTBA 2DFAC 3VSLU Top holdings2026-03-31 1.MTBA 2.DFAC 3.VSLU 4.TMSL 5.TLH 6.DFAT 7.FBND 8.DFIC 9.DFEM 10.FRDM
2025-12-31	77	$418.9M	12	1MTBA 2DFAC 3VSLU Top holdings2025-12-31 1.MTBA 2.DFAC 3.VSLU 4.TMSL 5.TLH 6.DFAT 7.FBND 8.DFIC 9.DFEM 10.FRDM
2025-09-30	78	$413.1M	34	1MTBA 2DFAC 3TMSL Top holdings2025-09-30 1.MTBA 2.DFAC 3.TMSL 4.VSLU 5.TLH 6.DFAT 7.FBND 8.DFIC 9.DFEM 10.FRDM
2025-06-30	77	$383.6M	0	1MTBA 2DFAC 3TMSL Top holdings2025-06-30 1.MTBA 2.DFAC 3.TMSL 4.TLH 5.VSLU 6.DFAT 7.FBND 8.DFIC 9.DFEM 10.SGOV
2025-03-31	80	$356.8M	100	1MTBA 2DFAC 3TMSL Top holdings2025-03-31 1.MTBA 2.DFAC 3.TMSL 4.DFAT 5.VSLU 6.IEI 7.DFIC 8.FBND 9.SHY 10.DFEM
2024-12-31	84	$380.8M	0	1SHY 2DFAC 3MTBA Top holdings2024-12-31 1.SHY 2.DFAC 3.MTBA 4.DFAT 5.TMSL 6.VSLU 7.DFIC 8.DFEM 9.FBND 10.IJH
2024-09-30	81	$383.6M	0	1SHY 2DFAC 3MTBA Top holdings2024-09-30 1.SHY 2.DFAC 3.MTBA 4.DFAT 5.TMSL 6.VSLU 7.DFIC 8.DFEM 9.FBND 10.SGOV
2024-06-30	79	$313.2M	0	1DFAC 2SHY 3MTBA Top holdings2024-06-30 1.DFAC 2.SHY 3.MTBA 4.DFAT 5.DFEM 6.FBND 7.FRDM 8.MSFT 9.BRK-B 10.SYK
2024-03-31	83	$330.9M	0	1DFAC 2TBLL 3BSV Top holdings2024-03-31 1.DFAC 2.TBLL 3.BSV 4.DFAT 5.DFIC 6.DFEM 7.FBND 8.BRK-B 9.FRDM 10.MSFT
2023-12-31	78	$303.4M	0	1BSV 2DFAC 3DFAT Top holdings2023-12-31 1.BSV 2.DFAC 3.DFAT 4.TBLL 5.DFIC 6.DFEM 7.FBND 8.BRK-B 9.FRDM 10.MSFT
2023-09-30	72	$235.4M	0	1BSV 2DFAC 3DFAT Top holdings2023-09-30 1.BSV 2.DFAC 3.DFAT 4.DFEM 5.BRK-B 6.VTEB 7.FRDM 8.MSFT 9.SYK 10.LOW
2023-06-30	65	$201.8M	0	1BSV 2DFAT 3DFEM Top holdings2023-06-30 1.BSV 2.DFAT 3.DFEM 4.MSFT 5.BRK-B 6.SYK 7.VTEB 8.LOW 9.PCAR 10.LKQ
2023-03-31	66	$191.7M	0	1BSV 2VCIT 3DFAT Top holdings2023-03-31 1.BSV 2.VCIT 3.DFAT 4.DFEM 5.MSFT 6.BRK-B 7.SYK 8.IJH 9.LOW 10.LKQ
2022-12-31	67	$181.1M	0	1BSV 2VCIT 3DFAT Top holdings2022-12-31 1.BSV 2.VCIT 3.DFAT 4.DFEM 5.BRK-B 6.IJH 7.SYK 8.LOW 9.GD 10.MSFT
2022-09-30	68	$159.0M	0	1BSV 2VCIT 3DFAT Top holdings2022-09-30 1.BSV 2.VCIT 3.DFAT 4.BRK-B 5.MSFT 6.VCSH 7.LOW 8.JNJ 9.GD 10.SYK
2022-06-30	68	$162.2M	0	1VCIT 2BSV 3DFAT Top holdings2022-06-30 1.VCIT 2.BSV 3.DFAT 4.VCSH 5.MSFT 6.BRK-B 7.JNJ 8.GD 9.LOW 10.LKQ
2022-03-31	73	$168.6M	0	1DFAT 2BRK-B 3DFAU Top holdings2022-03-31 1.DFAT 2.BRK-B 3.DFAU 4.MSFT 5.VCSH 6.SYK 7.UNP 8.LOW 9.GD 10.JNJ
2021-12-31	79	$190.8M	0	1VCSH 2MSFT 3DFAT Top holdings2021-12-31 1.VCSH 2.MSFT 3.DFAT 4.LOW 5.VGSH 6.INTU 7.BRK-B 8.META 9.ACN 10.QCOM
2021-09-30	70	$155.2M	0	1VCSH 2META 3PYPL Top holdings2021-09-30 1.VCSH 2.META 3.PYPL 4.INTU 5.MSFT 6.SYK 7.BRK-B 8.LOW 9.ACN 10.SWKS
2021-06-30	73	$171.3M	97	1INTU 2VCSH 3PYPL Top holdings2021-06-30 1.INTU 2.VCSH 3.PYPL 4.META 5.BRK-B 6.SWKS 7.MSFT 8.SYK 9.LOW 10.FDX
2021-03-31	76	$162.2M	13	1VCSH 2META 3PYPL Top holdings2021-03-31 1.VCSH 2.META 3.PYPL 4.INTU 5.SWKS 6.LOW 7.BRK-B 8.SYK 9.DHI 10.FDX
2020-12-31	74	$150.7M	17	1INTU 2PYPL 3META Top holdings2020-12-31 1.INTU 2.PYPL 3.META 4.SYK 5.BRK-B 6.SWKS 7.MSFT 8.V 9.LOW 10.FDX
2020-09-30	75	$135.4M	18	1META 2INTU 3LOW Top holdings2020-09-30 1.META 2.INTU 3.LOW 4.PYPL 5.FDX 6.SYK 7.SWKS 8.MSFT 9.BRK-B 10.V
2020-06-30	78	$120.4M	38	1INTU 2META 3MSFT Top holdings2020-06-30 1.INTU 2.META 3.MSFT 4.PYPL 5.LOW 6.V 7.SYK 8.SWKS 9.BRK-B 10.JNJ
2020-03-31	73	$97.1M	44	1MSFT 2INTU 3PEP Top holdings2020-03-31 1.MSFT 2.INTU 3.PEP 4.BRK-B 5.SYK 6.META 7.V 8.JNJ 9.PYPL 10.AMGN
2019-12-31	79	$134.3M	0	1MSFT 2SYK 3BRK-B Top holdings2019-12-31 1.MSFT 2.SYK 3.BRK-B 4.PEP 5.INTU 6.AFL 7.DIS 8.KRE 9.META 10.JNJ

Holding changes this quarter

Position changes disclosed by Watchman Group, Inc. for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	AVDE	Avantis International Equity	+2%	+1138.34%	Add
2	SGOV	Ishares 0-3 Month Treasury B	+0.6%	+55.50%	Add
3	MTBA	Simplify Mbs ETF	+0.5%	+5.61%	Add
4	TPL	Texas Pacific Land CORP	+0.5%	+10.60%	Add
5	FBND	Fidelity Total Bond ETF	+0.4%	+7.51%	Add
6	DFAT	Dimensional US Target Value	+0.4%	-0.50%	Trim
7	TLH	Ishares 10-20 Year Treasury	+0.3%	+4.69%	Add
8	CAVA	Cava Group INC	+0.3%	+0.66%	Add
9	TMSL	T.rowe Prc Small-mid Cap ETF	+0.2%	-0.10%	Trim
10	DFIC	Dimensional International Co	+0.2%	+2.14%	Add
11	VSLU	Applied Finance Valuat ETF	+0.2%	+7.60%	Add
12	WAB	Wabtec CORP	+0.1%	-5.31%	Trim
13	DFEM	Dimensional Emrg Mrkt Core	+0.1%	-2.26%	Trim
14	UFPI	Ufp Industries INC	+0.1%	+5.95%	Add
15	CSL	Carlisle Cos INC	+0.1%	-0.38%	Trim
16	FRDM	Freedom 100 Emeging Mrkt ETF	0%	-8.12%	Trim
17	RAVE	Rave Restaurant Group INC	0%	—	Unchanged
18	FFIN	First Finl Bankshares INC	0%	-2.51%	Trim
19	DHI	Dr Horton INC	0%	-0.12%	Trim
20	GD	General Dynamics CORP	0%	-5.54%	Trim
21	UBER	Uber Technologies INC	0%	+8.70%	Add
22	BTCO	Invsco Glxy Btcn ETF	0%	—	Unchanged
23	LOW	Lowe's Cos INC	0%	-4.54%	Trim
24	AMD	Advanced Micro Devices	0%	-1.46%	Trim
25	IUSG	Ishares Core S&p U.s. Growth	-0.1%	-0.47%	Trim
26	BRK-B	Berkshire Hathaway Inc-cl B	-0.1%	-0.01%	Trim
27	SYK	Stryker CORP	-0.1%	+0.46%	Add
28	NVR	Nvr INC	-0.1%	-3.10%	Trim
29	AMZN	Amazon.com INC	-0.1%	+0.80%	Add
30	META	Meta Platforms Inc-class A	-0.1%	+0.30%	Add
31	GOOG	Alphabet Inc-cl C	-0.1%	+1.20%	Add
32	GOOGL	Alphabet Inc-cl A	-0.1%	-1.34%	Trim
33	V	Visa Inc-class A Shares	-0.1%	+0.83%	Add
34	MKL	Markel Group INC	-0.2%	-2.94%	Trim
35	A	Agilent Technologies INC	-0.2%	-2.34%	Trim
36	USFR	Wisdomtree Floating Rate Tre	-0.2%	-36.29%	Trim
37	CVCO	Cavco Industries INC	-0.2%	-0.53%	Trim
38	ACN	Accenture plc	-0.2%	+4.44%	Add
39	APH	Amphenol Corp-cl A	-0.2%	-9.92%	Trim
40	EFG	Ishares Msci Eafe Growth ETF	-0.2%	-81.57%	Trim
41	DFAC	Dimensional US Core Equity 2	-0.3%	-2.59%	Trim
42	TSLA	Tesla INC	-0.3%	+0.16%	Add
43	INTU	Intuit INC	-0.3%	+7.41%	Add
44	MSFT	Microsoft CORP	-0.3%	+3.52%	Add
45	CMI	Cummins INC	-0.4%	-41.95%	Trim
46	IJH	Ishares Core S&p Midcap ETF	-1%	-68.73%	Trim
47	RMD	Resmed INC	—	EXIT	Sold out
48	VTEB	Vanguard Tax-exempt Bond ETF	—	EXIT	Sold out
49	REI	Ring Energy INC	—	EXIT	Sold out
50	BKLC	Bny Mellon US Lrg Cap Cor	—	EXIT	Sold out

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-04-20	13F-HR	View on EDGAR
2025-12-31	2026-02-06	13F-HR	View on EDGAR
2025-09-30	2025-11-13	13F-HR	View on EDGAR
2025-06-30	2025-08-12	13F-HR	View on EDGAR
2025-03-31	2025-05-13	13F-HR	View on EDGAR
2024-12-31	2025-02-12	13F-HR	View on EDGAR
2024-09-30	2024-11-12	13F-HR	View on EDGAR
2024-06-30	2024-08-14	13F-HR	View on EDGAR
2024-03-31	2024-05-09	13F-HR	View on EDGAR
2023-12-31	2024-02-13	13F-HR	View on EDGAR
2023-09-30	2023-11-09	13F-HR	View on EDGAR
2023-06-30	2023-08-10	13F-HR	View on EDGAR
2023-03-31	2023-05-11	13F-HR	View on EDGAR
2022-12-31	2023-02-09	13F-HR	View on EDGAR
2022-09-30	2022-11-15	13F-HR	View on EDGAR
2022-06-30	2022-08-11	13F-HR	View on EDGAR
2022-03-31	2022-05-16	13F-HR	View on EDGAR
2021-12-31	2022-02-11	13F-HR	View on EDGAR
2021-09-30	2021-11-09	13F-HR	View on EDGAR
2021-06-30	2021-08-05	13F-HR	View on EDGAR
2021-03-31	2021-05-05	13F-HR	View on EDGAR
2020-12-31	2021-02-01	13F-HR	View on EDGAR
2020-09-30	2020-11-03	13F-HR	View on EDGAR
2020-06-30	2020-07-07	13F-HR	View on EDGAR
2020-03-31	2020-04-28	13F-HR	View on EDGAR
2019-12-31	2020-02-12	13F-HR	View on EDGAR

FAQ

What is Watchman Group, Inc. and what type of investor is it?

What are Watchman Group, Inc.'s largest equity positions?

What changes did Watchman Group, Inc. make in its most recent portfolio filing?

What sectors does Watchman Group, Inc. focus on?

Peer Institutions

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Total reported value

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Concentration5.5

Portfolio Stability38.1

Sector conviction81.7

AUM within 0.0% of this institution

View detail

Square Wave Capital, LLC

CIK 0002077145

Total reported value

$413.4M

12 stks

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View detail

Varenne Capital Partners

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Total reported value

$413.0M

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Concentration29.5

Portfolio Stability92.9

Sector conviction100.0

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View detail

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