Watchman Group, Inc.

Name: Watchman Group, Inc. 13F holdings, Q4 2024
Creator: Watchman Group, Inc.
Published: 2025-02-12

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q3 2024Q2 2024Q1 2024

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 12, 2025), Watchman Group, Inc. reported 84 stock positions worth $380.8 million. Its top holding was iShares 1-3 Year Treasury Bo (SHY) at 9.0% of the portfolio, followed by Dimensional US Core Equity 2 (DFAC, 8.2%) and Simplify MBS ETF (MTBA, 7.6%). Compared with Q3 2024, it opened 3 new positions, added to 15 and reduced 53. The biggest buy was Amazon.com (AMZN, shares +767%) and the biggest sale Pepsico (PEP, shares −67%).

Most Recent 13F: Q2 2026
Location: PLANO, TX
CIK: 0001748726
Portfolio Value: $380.8M (Q4 2024)
SEC Filing: 0001748726-25-000001 ↗ filed Feb 12, 2025

Holdings Value

Holdings 84 stocks · $380.8M


SHY iShares 1-3 Year Treasury Bo	9.02%	419,076	$34.4M	Add +5.5%
DFAC Dimensional US Core Equity 2	8.20%	903,227	$31.2M	Reduce -1.3%
MTBA Simplify MBS ETF	7.58%	580,926	$28.9M	Add +4.8%
DFAT Dimensional US Target Value	6.59%	451,115	$25.1M	Reduce -1.9%
TMSL T.rowe PRC Small-Mid Cap ETF	6.48%	764,696	$24.7M	Add +10.3%
VSLU Applied Finance Valuat ETF	5.59%	581,497	$21.3M	Add +13.6%
DFIC Dimensional International Co.	3.04%	448,383	$11.6M	Add +0.4%
DFEM Dimensional Emrg MRKT Core	2.47%	359,034	$9.4M	Reduce -0.8%
FBND Fidelity Total Bond ETF	2.16%	183,414	$8.2M	Add +5.4%
IJH iShares Core S&P Midcap ETF	1.93%	118,078	$7.4M	Reduce -1.1%
BRK.B Berkshire Hathaway Inc. Class B	1.92%	16,115	$7.3M	Reduce -2.2%
TSLA Tesla Inc.	1.78%	16,818	$6.8M	Reduce -7.1%
SGOV iShares 0-3 Month Treasury B	1.76%	66,710	$6.7M	Reduce -13.5%
FRDM Freedom 100 Emeging MRKT ETF	1.72%	199,982	$6.5M	Reduce -1.8%
MSFT Microsoft Corp.	1.71%	15,482	$6.5M	Reduce -1.6%
SYK Stryker Corp.	1.58%	16,697	$6.0M	Reduce -2.3%
V Visa Inc. Class A	1.45%	17,435	$5.5M	Reduce -1.5%
GOOG Alphabet Inc. Class C	1.34%	26,889	$5.1M	Reduce -1.9%
INTU Intuit Inc.	1.29%	7,804	$4.9M	Reduce -3.8%
ACN Accenture PLC Class A	1.27%	13,715	$4.8M	Reduce -1.3%
CMI Cummins Inc.	1.22%	13,357	$4.7M	Reduce -4.1%
APH Amphenol Corp. Class A	1.21%	66,496	$4.6M	Reduce -3.0%
WAB Wabtec Corp.	1.20%	24,136	$4.6M	Reduce -12.4%
CASY Casey's General Stores Inc.	1.20%	11,521	$4.6M	Reduce -6.2%
PCAR Paccar Inc.	1.15%	42,227	$4.4M	Reduce -2.6%
UFPI Ufp Industries Inc.	1.15%	38,938	$4.4M	Reduce -1.3%
MKL Markel Group Inc.	1.13%	2,485	$4.3M	Reduce -0.8%
LOW Lowe's Cos Inc.	1.10%	16,988	$4.2M	Reduce -23.7%
GOOGL Alphabet Inc. Class A	1.09%	21,945	$4.2M	Reduce -0.9%
GD General Dynamics Corp.	1.09%	15,708	$4.1M	Reduce -1.5%
CVCO Cavco Industries Inc.	1.07%	9,125	$4.1M	Reduce -6.3%
AMZN Amazon.com Inc.	1.06%	18,368	$4.0M	Add +766.8%
GNRC Generac Holdings Inc.	1.04%	25,599	$4.0M	Reduce -3.8%
PYPL PayPal Holdings Inc.	1.03%	45,822	$3.9M	Add +5.6%
CSL Carlisle Cos Inc.	1.00%	10,352	$3.8M	Reduce -2.6%
CFR Cullen/Frost Bankers Inc.	0.98%	27,848	$3.7M	Reduce -1.8%
DHI D.R. Horton Inc.	0.98%	26,682	$3.7M	Reduce -1.1%
ITT Itt Inc.	0.97%	25,793	$3.7M	Reduce -6.4%
IUSG iShares Core S&P U.S. Growth	0.94%	25,590	$3.6M	Reduce -16.1%
NXPI NXP Semiconductors NV	0.87%	15,943	$3.3M	Reduce -0.7%
NVR NVR Inc.	0.86%	401	$3.3M	Reduce -7.4%
LOB Live Oak Bancshares Inc.	0.86%	82,526	$3.3M	Reduce -1.9%
PG The Procter & Gamble Co.	0.75%	17,019	$2.9M	Reduce -1.7%
OZK Bank Ozk	0.70%	60,070	$2.7M	Reduce -5.0%
IJK iShares S&P Mid-Cap 400 Grow	0.67%	28,159	$2.6M	Reduce -25.1%
VTEB Vanguard Tax-Exempt Bond ETF	0.62%	47,459	$2.4M	Reduce -1.7%
SSGA ACTIVE TR	0.48%	43,438	$1.8M	Reduce -0.2%
IJR iShares Core S&P Small-Cap E	0.48%	15,863	$1.8M	Reduce -32.1%
TBLL Invesco Short Term Treasury	0.38%	13,862	$1.5M	Add +52.3%
PEP Pepsico Inc.	0.26%	6,463	$983K	Reduce -67.1%
VOO Vanguard S&P 500 ETF	0.22%	1,552	$836K	Add +2.4%
EFG iShares MSCI Eafe Growth ETF	0.22%	8,484	$822K	Add +6.6%
WMT Walmart Inc.	0.21%	8,658	$782K	Reduce -8.8%
AAPL Apple Inc.	0.20%	3,084	$772K	Reduce -14.7%
IUSV iShares Core S&P U.S. Value	0.19%	7,881	$730K	Reduce -23.7%
REI Ring Energy Inc.	0.18%	500,000	$680K	Add +66.7%
IHI iShares U.S. Medical Devices	0.18%	11,530	$673K	No change
VRSK Verisk Analytics Inc.	0.17%	2,310	$636K	No change
VTES Vanguard SH Term Tax-Ex Bond	0.13%	5,011	$502K	Add +2.7%
AFL Aflac Inc.	0.12%	4,375	$453K	No change
RAVE Rave Restaurant Group Inc.	0.12%	173,100	$443K	No change
JNJ Johnson & Johnson	0.10%	2,654	$384K	No change
BSV Vanguard Short-Term Bond ETF	0.09%	4,595	$355K	Reduce -10.7%
VEA Vanguard Ftse Developed ETF	0.09%	7,415	$355K	Reduce -0.8%
BTCO Invsco GLXY BTCN ETF	0.09%	3,800	$355K	No change
HD Home Depot Inc.	0.09%	853	$332K	Reduce -1.7%
MCD McDonald's Corp.	0.08%	1,109	$321K	No change
VTI VG Morningstar TS MKT ETF-US	0.08%	1,094	$317K	Reduce -0.3%
IWD iShares Russell 1000 Value E	0.08%	1,660	$307K	No change
VIG Vanguard Dividend Apprec ETF	0.08%	1,566	$307K	Add +2.7%
YUM Yum! Brands Inc.	0.08%	2,269	$304K	Reduce -39.8%
TPL Texas Pacific Land Corp.	0.08%	270	$299K	No change
CSCO Cisco Systems Inc.	0.08%	4,944	$293K	Reduce -25.6%
XOM Exxon Mobil Corp.	0.07%	2,641	$284K	No change
SMMU PIMCO SHRT TRM Muni BND ETF	0.07%	5,540	$276K	No change
KO The Coca-Cola Co.	0.07%	4,310	$268K	Add +0.1%
AGG iShares Core U.S. Aggregate	0.06%	2,448	$237K	No change
EPD Enterprise Products Partners	0.06%	7,125	$223K	Reduce -10.1%
BKLC BNY Mellon US LRG Cap Cor	0.06%	1,934	$217K	Reduce -1.6%
NVDA Nvidia Corp.	0.05%	1,549	$208K	New
AVDX Avidxchange Holdings Inc.	0.05%	19,957	$206K	No change
USFR Wisdomtree Floating Rate Tre	0.05%	4,014	$202K	Reduce -10.2%
VO Vngrd Mrngstr MD-Cap ETF-Usd	0.05%	667	$176K	New
MESA AIR GROUP INC	0.01%	21,000	$24K	New

Portfolio Sells Q3 2024 → Q4 2024


PEP Pepsico Inc.	Reduce -67.1%	0.26%	−0.61
LOW Lowe's Cos Inc.	Reduce -23.7%	1.10%	−0.47
DHI D.R. Horton Inc.	Reduce -1.1%	0.98%	−0.36
SGOV iShares 0-3 Month Treasury B	Reduce -13.5%	1.76%	−0.27
NVR NVR Inc.	Reduce -7.4%	0.86%	−0.25
CSL Carlisle Cos Inc.	Reduce -2.6%	1.00%	−0.24
IJR iShares Core S&P Small-Cap E	Reduce -32.1%	0.48%	−0.23
IJK iShares S&P Mid-Cap 400 Grow	Reduce -25.1%	0.67%	−0.23
UFPI Ufp Industries Inc.	Reduce -1.3%	1.15%	−0.20
DFEM Dimensional Emrg MRKT Core	Reduce -0.8%	2.47%	−0.19
FRDM Freedom 100 Emeging MRKT ETF	Reduce -1.8%	1.72%	−0.18
LOB Live Oak Bancshares Inc.	Reduce -1.9%	0.86%	−0.18
GD General Dynamics Corp.	Reduce -1.5%	1.09%	−0.17
NXPI NXP Semiconductors NV	Reduce -0.7%	0.87%	−0.13
IUSG iShares Core S&P U.S. Growth	Reduce -16.1%	0.94%	−0.11
ITT Itt Inc.	Reduce -6.4%	0.97%	−0.11
WAB Wabtec Corp.	Reduce -12.4%	1.20%	−0.10
DFAT Dimensional US Target Value	Reduce -1.9%	6.59%	−0.07
IUSV iShares Core S&P U.S. Value	Reduce -23.7%	0.19%	−0.07
GNRC Generac Holdings Inc.	Reduce -3.8%	1.04%	−0.06
BRK.B Berkshire Hathaway Inc. Class B	Reduce -2.2%	1.92%	−0.06
YUM Yum! Brands Inc.	Reduce -39.8%	0.08%	−0.06
MSFT Microsoft Corp.	Reduce -1.6%	1.71%	−0.05
PG The Procter & Gamble Co.	Reduce -1.7%	0.75%	−0.03
SYK Stryker Corp.	Reduce -2.3%	1.58%	−0.03
INTU Intuit Inc.	Reduce -3.8%	1.29%	−0.02
VTEB Vanguard Tax-Exempt Bond ETF	Reduce -1.7%	0.62%	−0.02
CVCO Cavco Industries Inc.	Reduce -6.3%	1.07%	−0.02
AAPL Apple Inc.	Reduce -14.7%	0.20%	−0.02
CSCO Cisco Systems Inc.	Reduce -25.6%	0.08%	−0.02
SSGA ACTIVE TR	Reduce -0.2%	0.48%	−0.01
ACN Accenture PLC Class A	Reduce -1.3%	1.27%	−0.01
BSV Vanguard Short-Term Bond ETF	Reduce -10.7%	0.09%	−0.01
VEA Vanguard Ftse Developed ETF	Reduce -0.8%	0.09%	−0.01
IJH iShares Core S&P Midcap ETF	Reduce -1.1%	1.93%	−0.01
OZK Bank Ozk	Reduce -5.0%	0.70%	−0.01
USFR Wisdomtree Floating Rate Tre	Reduce -10.2%	0.05%	−0.01
HD Home Depot Inc.	Reduce -1.7%	0.09%	−0.00
CASY Casey's General Stores Inc.	Reduce -6.2%	1.20%	−0.00
EPD Enterprise Products Partners	Reduce -10.1%	0.06%	−0.00
BKLC BNY Mellon US LRG Cap Cor	Reduce -1.6%	0.06%	+0.00
VTI VG Morningstar TS MKT ETF-US	Reduce -0.3%	0.08%	+0.00
WMT Walmart Inc.	Reduce -8.8%	0.21%	+0.01
DFAC Dimensional US Core Equity 2	Reduce -1.3%	8.20%	+0.03
PCAR Paccar Inc.	Reduce -2.6%	1.15%	+0.04
CMI Cummins Inc.	Reduce -4.1%	1.22%	+0.05
APH Amphenol Corp. Class A	Reduce -3.0%	1.21%	+0.05
MKL Markel Group Inc.	Reduce -0.8%	1.13%	+0.10
GOOGL Alphabet Inc. Class A	Reduce -0.9%	1.09%	+0.13
GOOG Alphabet Inc. Class C	Reduce -1.9%	1.34%	+0.15

Portfolio Buys Q3 2024 → Q4 2024


AMZN Amazon.com Inc.	Add +766.8%	1.06%	+0.96
VSLU Applied Finance Valuat ETF	Add +13.6%	5.59%	+0.78
TMSL T.rowe PRC Small-Mid Cap ETF	Add +10.3%	6.48%	+0.61
SHY iShares 1-3 Year Treasury Bo	Add +5.5%	9.02%	+0.41
PYPL PayPal Holdings Inc.	Add +5.6%	1.03%	+0.14
MTBA Simplify MBS ETF	Add +4.8%	7.58%	+0.14
TBLL Invesco Short Term Treasury	Add +52.3%	0.38%	+0.13
NVDA Nvidia Corp.	New	0.05%	+0.05
REI Ring Energy Inc.	Add +66.7%	0.18%	+0.05
VO Vngrd Mrngstr MD-Cap ETF-Usd	New	0.05%	+0.05
FBND Fidelity Total Bond ETF	Add +5.4%	2.16%	+0.04
VOO Vanguard S&P 500 ETF	Add +2.4%	0.22%	+0.01
MESA AIR GROUP INC	New	0.01%	+0.01
VTES Vanguard SH Term Tax-Ex Bond	Add +2.7%	0.13%	+0.00
VIG Vanguard Dividend Apprec ETF	Add +2.7%	0.08%	+0.00
EFG iShares MSCI Eafe Growth ETF	Add +6.6%	0.22%	−0.01
KO The Coca-Cola Co.	Add +0.1%	0.07%	−0.01
DFIC Dimensional International Co.	Add +0.4%	3.04%	−0.23

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	73	$447.4M	MTBA, DFAC, TMSL, VSLU, DFAT
Q1 2026	73	$413.2M	MTBA, DFAC, VSLU, TMSL, TLH
Q4 2025	77	$418.9M	MTBA, DFAC, VSLU, TMSL, TLH
Q3 2025	78	$413.1M	MTBA, DFAC, TMSL, VSLU, TLH
Q2 2025	77	$383.6M	MTBA, DFAC, TMSL, TLH, VSLU
Q1 2025	80	$356.8M	MTBA, DFAC, TMSL, DFAT, VSLU
Q4 2024	84	$380.8M	SHY, DFAC, MTBA, DFAT, TMSL
Q3 2024	81	$383.6M	SHY, DFAC, MTBA, DFAT, TMSL
Q2 2024	79	$313.2M	DFAC, SHY, MTBA, DFAT, DFEM
Q1 2024	83	$330.9M	DFAC, TBLL, BSV, DFAT, DFIC