Watchtower Advisors, LP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Watchtower Advisors, LP reported 18 stock positions worth $168.9 million. Its top holding was Axis Capital (AXS) at 16.0% of the portfolio, followed by CVS Health (CVS, 10.6%) and Royal Caribbean Cruises (RCL, 10.2%). Compared with Q1 2025, it opened 7 new positions, sold out of 4 and reduced 4. The biggest buy was a new position in Appfolio Class A (APPF) and the biggest sale an exit from Hilton Worldwide (HLT).
- Most Recent 13F
- Q2 2026
- Location
- OLD GREENWICH, CT
- CIK
- 0001807092
- Portfolio Value
- $168.9M (Q2 2025)
- SEC Filing
- 0001807092-25-000008 ↗ filed Aug 13, 2025
Holdings Value
Holdings 18 stocks · $168.9M
| AXS Axis Capital Holdings Ltd. | 15.98% | 260,000 | $27.0M | No change |
| CVS CVS Health Corp. | 10.62% | 260,000 | $17.9M | No change |
| RCL Royal Caribbean Cruises Ltd. | 10.23% | 55,215 | $17.3M | No change |
| APPF Appfolio Inc. Class A | 8.35% | 61,253 | $14.1M | New |
| APH Amphenol Corp. Class A | 8.11% | 138,700 | $13.7M | No change |
| AVGO Broadcom Inc. | 6.36% | 38,950 | $10.7M | Reduce -20.4% |
| PATK Patrick Industries Inc. | 5.46% | 100,000 | $9.2M | New |
| LII Lennox International Inc. | 5.11% | 15,059 | $8.6M | No change |
| AZO AutoZone Inc. | 4.65% | 2,118 | $7.9M | No change |
| AMD Advanced Micro Devices | 4.40% | 52,370 | $7.4M | New |
| BLDR Builders Firstsource Inc. | 4.04% | 58,437 | $6.8M | New |
| VRNA Verona Pharma Ltd. | 3.92% | 70,000 | $6.6M | Reduce -51.8% |
| ATMU Atmus Filtration Technologie | 3.60% | 166,932 | $6.1M | Reduce -13.7% |
| IBP Installed Building Products | 2.64% | 24,743 | $4.5M | New |
| ODFL Old Dominion Freight Line | 2.23% | 23,175 | $3.8M | New |
| RPRX Royalty Pharma PLC Class A | 2.13% | 100,000 | $3.6M | New |
| SLM SLM Corp. | 1.15% | 59,426 | $1.9M | Reduce -60.1% |
| MEDP Medpace Holdings Inc. | 1.03% | 5,519 | $1.7M | No change |
Portfolio Sells Q1 2025 → Q2 2025
| HLT Hilton Worldwide Holdings Inc. | Sold out | 0.00% | −12.67 |
| KVYO Klaviyo Inc. Class A | Sold out | 0.00% | −4.06 |
| VRNA Verona Pharma Ltd. | Reduce -51.8% | 3.92% | −2.78 |
| SLM SLM Corp. | Reduce -60.1% | 1.15% | −1.99 |
| ATMU Atmus Filtration Technologie | Reduce -13.7% | 3.60% | −1.56 |
| GTES Gates Industrial Corp. UK Ltd. | Sold out | 0.00% | −1.44 |
| ACA Arcosa Inc. | Sold out | 0.00% | −1.14 |
| AVGO Broadcom Inc. | Reduce -20.4% | 6.36% | +0.41 |
Portfolio Buys Q1 2025 → Q2 2025
| APPF Appfolio Inc. Class A | New | 8.35% | +8.35 |
| PATK Patrick Industries Inc. | New | 5.46% | +5.46 |
| AMD Advanced Micro Devices | New | 4.40% | +4.40 |
| BLDR Builders Firstsource Inc. | New | 4.04% | +4.04 |
| IBP Installed Building Products | New | 2.64% | +2.64 |
| ODFL Old Dominion Freight Line | New | 2.23% | +2.23 |
| RPRX Royalty Pharma PLC Class A | New | 2.13% | +2.13 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 11 | $179.6M | ASML, OHI, CVS, MU, PATK |
| Q1 2026 | 12 | $141.0M | ASML, OHI, PATK, CVS, SGI |
| Q4 2025 | 11 | $165.6M | ASML, CVS, PATK, OHI, APH |
| Q3 2025 | 16 | $214.3M | CVS, ASML, RCL, CLH, APH |
| Q2 2025 | 18 | $168.9M | AXS, CVS, RCL, APPF, APH |
| Q1 2025 | 15 | $137.8M | AXS, CVS, HLT, RCL, VRNA |
| Q4 2024 | 14 | $176.7M | AXS, FTAI, HLT, ALLE, AVGO |
| Q3 2024 | 15 | $215.7M | AVGO, ACGL, HLT, AXS, FTAI |
| Q2 2024 | 11 | $155.1M | AVGO, ACGL, AXS, LII, MEDP |
| Q1 2024 | 13 | $180.2M | AVGO, LII, ACGL, MEDP, SPR |