# Watchman Group, Inc.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1748726. Source: https://holderbook.com/funds/1748726-watchman-group-inc/

- Reported value: $447.4M
- Positions: 73
- Weight of the ten largest: 60.9%
- Filed: 2026-07-27

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| SIMPLIFY EXCHANGE TRADED FUN | [MTBA](https://holderbook.com/stocks/MTBA/) | $44.3M | 902,254 | 9.9% | 10 |
| DIMENSIONAL ETF TRUST | [DFAC](https://holderbook.com/stocks/DFAC/) | $40.7M | 916,418 | 9.1% | 12 |
| T ROWE PRICE EXCHANGE-TRADED | [TMSL](https://holderbook.com/stocks/TMSL/) | $35.7M | 813,692 | 8.0% | 11 |
| ETF OPPORTUNITIES TRUST | [VSLU](https://holderbook.com/stocks/VSLU/) | $34.6M | 748,065 | 7.7% | 8 |
| DIMENSIONAL ETF TRUST | [DFAT](https://holderbook.com/stocks/DFAT/) | $30.2M | 431,658 | 6.7% | 20 |
| ISHARES TR | [TLH](https://holderbook.com/stocks/TLH/) | $27.6M | 275,011 | 6.2% | 5 |
| FIDELITY MERRIMACK STR TR | [FBND](https://holderbook.com/stocks/FBND/) | $21.0M | 460,856 | 4.7% | 12 |
| DIMENSIONAL ETF TRUST | [DFIC](https://holderbook.com/stocks/DFIC/) | $16.1M | 433,264 | 3.6% | 8 |
| DIMENSIONAL ETF TRUST | [DFEM](https://holderbook.com/stocks/DFEM/) | $12.0M | 295,106 | 2.7% | 16 |
| AMERICAN CENTY ETF TR | [AVDE](https://holderbook.com/stocks/AVDE/) | $10.2M | 114,677 | 2.3% | 3 |
| EA SERIES TRUST | [FRDM](https://holderbook.com/stocks/FRDM/) | $9.1M | 125,414 | 2.0% | 12 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $8.9M | 25,329 | 2.0% | 27 |
| ISHARES TR | [SGOV](https://holderbook.com/stocks/SGOV/) | $7.9M | 78,114 | 1.8% | 12 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $7.8M | 44,073 | 1.7% | 27 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $7.5M | 15,058 | 1.7% | 15 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $6.9M | 19,319 | 1.5% | 27 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $6.7M | 16,045 | 1.5% | 25 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $5.1M | 14,968 | 1.1% | 27 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $5.1M | 13,547 | 1.1% | 27 |
| WABTEC | [WAB](https://holderbook.com/stocks/WAB/) | $5.0M | 18,552 | 1.1% | 13 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $4.8M | 20,308 | 1.1% | 14 |
| CAVCO INDS INC DEL | [CVCO](https://holderbook.com/stocks/CVCO/) | $4.8M | 7,788 | 1.1% | 12 |
| CARLISLE COS INC | [CSL](https://holderbook.com/stocks/CSL/) | $4.8M | 13,114 | 1.1% | 27 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $4.7M | 15,027 | 1.1% | 27 |
| D R HORTON INC | [DHI](https://holderbook.com/stocks/DHI/) | $4.4M | 27,110 | 1.0% | 27 |
| MARKEL GROUP INC | [MKL](https://holderbook.com/stocks/MKL/) | $4.3M | 2,216 | 1.0% | 14 |
| PACCAR INC | [PCAR](https://holderbook.com/stocks/PCAR/) | $4.3M | 35,820 | 1.0% | 27 |
| GENERAL DYNAMICS CORP | [GD](https://holderbook.com/stocks/GD/) | $4.2M | 11,986 | 0.9% | 18 |
| TEXAS PACIFIC LAND CORPORATI | [TPL](https://holderbook.com/stocks/TPL/) | $4.2M | 9,634 | 0.9% | 8 |
| CAVA GROUP INC | [CAVA](https://holderbook.com/stocks/CAVA/) | $4.0M | 51,413 | 0.9% | 3 |
| NXP SEMICONDUCTORS N V | [NXPI](https://holderbook.com/stocks/NXPI/) | $4.0M | 14,089 | 0.9% | 14 |
| UFP INDUSTRIES INC | [UFPI](https://holderbook.com/stocks/UFPI/) | $3.7M | 40,846 | 0.8% | 25 |
| CUMMINS INC | [CMI](https://holderbook.com/stocks/CMI/) | $3.6M | 5,092 | 0.8% | 11 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $3.6M | 49,490 | 0.8% | 6 |
| AGILENT TECHNOLOGIES INC | [A](https://holderbook.com/stocks/A/) | $3.5M | 26,562 | 0.8% | 4 |
| FIRST FINL BANKSHARES INC | [FFIN](https://holderbook.com/stocks/FFIN/) | $3.3M | 95,256 | 0.7% | 4 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $3.2M | 14,644 | 0.7% | 27 |
| SERVISFIRST BANCSHARES INC | [SFBS](https://holderbook.com/stocks/SFBS/) | $3.0M | 34,939 | 0.7% | 4 |
| SSGA ACTIVE TR | [EMTL](https://holderbook.com/stocks/EMTL/) | $2.9M | 67,996 | 0.6% | 12 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $2.9M | 28,809 | 0.6% | 1 |
| ISHARES TR | [IUSG](https://holderbook.com/stocks/IUSG/) | $2.8M | 15,069 | 0.6% | 12 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $2.8M | 22,684 | 0.6% | 27 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $2.4M | 4,293 | 0.5% | 6 |
| NVR INC | [NVR](https://holderbook.com/stocks/NVR/) | $1.9M | 274 | 0.4% | 25 |
| INTUIT | [INTU](https://holderbook.com/stocks/INTU/) | $1.8M | 6,924 | 0.4% | 27 |
| ISHARES TR | [IJK](https://holderbook.com/stocks/IJK/) | $1.5M | 12,426 | 0.3% | 15 |
| WISDOMTREE TR | [USFR](https://holderbook.com/stocks/USFR/) | $1.2M | 23,339 | 0.3% | 8 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $1.1M | 14,664 | 0.3% | 16 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $940.9K | 1,370 | 0.2% | 11 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $892.9K | 7,883 | 0.2% | 19 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $702.6K | 2,428 | 0.2% | 27 |
| STATE STR SPDR DOW JONES IND | [DIA](https://holderbook.com/stocks/DIA/) | $653.0K | 1,250 | 0.1% | 5 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $617.1K | 5,254 | 0.1% | 19 |
| RAVE RESTAURANT GROUP INC | [RAVE](https://holderbook.com/stocks/RAVE/) | $597.8K | 182,800 | 0.1% | 27 |
| ISHARES TR | [IHI](https://holderbook.com/stocks/IHI/) | $562.3K | 11,380 | 0.1% | 27 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $531.4K | 7,458 | 0.1% | 16 |
| AFLAC INC | [AFL](https://holderbook.com/stocks/AFL/) | $514.1K | 4,385 | 0.1% | 27 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $499.8K | 1,968 | 0.1% | 27 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $489.0K | 653 | 0.1% | 5 |
| VERISK ANALYTICS INC | [VRSK](https://holderbook.com/stocks/VRSK/) | $386.9K | 2,155 | 0.1% | 27 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $379.5K | 1,897 | 0.1% | 7 |
| SIMPLIFY EXCHANGE TRADED FUN | [CTA](https://holderbook.com/stocks/CTA/) | $378.4K | 14,589 | 0.1% | 1 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $329.7K | 4,056 | 0.1% | 19 |
| ISHARES TR | [IWD](https://holderbook.com/stocks/IWD/) | $329.0K | 1,357 | 0.1% | 26 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $313.5K | 2,293 | 0.1% | 18 |
| VANGUARD BD INDEX FDS | [BSV](https://holderbook.com/stocks/BSV/) | $296.2K | 3,802 | 0.1% | 18 |
| YUM BRANDS INC | [YUM](https://holderbook.com/stocks/YUM/) | $283.9K | 1,776 | 0.1% | 27 |
| ISHARES BITCOIN TRUST ETF | [IBIT](https://holderbook.com/stocks/IBIT/) | $247.2K | 7,427 | 0.1% | 1 |
| ISHARES TR | [EFG](https://holderbook.com/stocks/EFG/) | $246.7K | 1,983 | 0.1% | 12 |
| BNY MELLON ETF TRUST | [BKLC](https://holderbook.com/stocks/BKLC/) | $237.0K | 1,653 | 0.1% | 1 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $236.6K | 875 | 0.1% | 24 |
| ISHARES TR | [IUSV](https://holderbook.com/stocks/IUSV/) | $235.5K | 2,138 | 0.1% | 15 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $212.0K | 288 | 0.0% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +9.9% | +14.8% | -4.9% | 100% |
| Q1 2026 | -2.0% | -4.6% | +2.6% | 100% |
| Q4 2025 | +1.6% | +2.4% | -0.8% | 100% |
| Q3 2025 | +6.0% | +7.8% | -1.8% | 100% |
| Q2 2025 | +6.9% | +10.5% | -3.6% | 100% |
| Q1 2025 | -3.4% | -4.6% | +1.1% | 100% |
| Q4 2024 | -0.8% | +2.1% | -3.0% | 100% |
| Q3 2024 | +5.6% | +5.4% | +0.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $447.4M | 73 |
| Q1 2026 | $413.2M | 73 |
| Q4 2025 | $418.9M | 77 |
| Q3 2025 | $413.1M | 78 |
| Q2 2025 | $383.6M | 77 |
| Q1 2025 | $356.8M | 80 |
| Q4 2024 | $380.8M | 84 |
| Q3 2024 | $383.6M | 81 |
| Q2 2024 | $313.2M | 79 |
| Q1 2024 | $330.9M | 83 |
| Q4 2023 | $303.4M | 78 |
| Q3 2023 | $235.4M | 72 |