Watchtower Advisors, LP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Watchtower Advisors, LP reported 16 stock positions worth $214.3 million. Its top holding was CVS Health (CVS) at 12.6% of the portfolio, followed by ASML Holding NV-NY Reg SHS (ASML, 8.7%) and Royal Caribbean Cruises (RCL, 8.3%). Compared with Q2 2025, it opened 3 new positions, sold out of 5, added to 5 and reduced 4. The biggest buy was a new position in ASML Holding NV-NY Reg SHS (ASML) and the biggest sale Axis Capital (AXS, shares −42%).
- Most Recent 13F
- Q2 2026
- Location
- OLD GREENWICH, CT
- CIK
- 0001807092
- Portfolio Value
- $214.3M (Q3 2025)
- SEC Filing
- 0001807092-25-000013 ↗ filed Nov 13, 2025
Holdings Value
Holdings 16 stocks · $214.3M
| CVS CVS Health Corp. | 12.56% | 357,000 | $26.9M | Add +37.3% |
| ASML ASML Holding NV-NY Reg SHS | 8.67% | 20,234 | $18.6M | New |
| RCL Royal Caribbean Cruises Ltd. | 8.34% | 55,215 | $17.9M | No change |
| CLH Clean Harbors Inc. | 8.25% | 76,144 | $17.7M | New |
| APH Amphenol Corp. Class A | 7.51% | 130,000 | $16.1M | Reduce -6.3% |
| PATK Patrick Industries Inc. | 7.24% | 150,000 | $15.5M | Add +50.0% |
| AXS Axis Capital Holdings Ltd. | 6.70% | 150,000 | $14.4M | Reduce -42.3% |
| AMRZ Amrize Ltd. | 6.44% | 284,416 | $13.8M | New |
| AVGO Broadcom Inc. | 5.23% | 33,955 | $11.2M | Reduce -12.8% |
| APPF Appfolio Inc. Class A | 5.14% | 40,000 | $11.0M | Reduce -34.7% |
| AMD Advanced Micro Devices | 4.53% | 60,000 | $9.7M | Add +14.6% |
| BLDR Builders Firstsource Inc. | 4.24% | 75,000 | $9.1M | Add +28.3% |
| AZO AutoZone Inc. | 4.24% | 2,118 | $9.1M | No change |
| LII Lennox International Inc. | 3.72% | 15,059 | $8.0M | No change |
| IBP Installed Building Products | 3.71% | 32,277 | $8.0M | Add +30.4% |
| VRNA Verona Pharma Ltd. | 3.48% | 70,000 | $7.5M | No change |
Portfolio Sells Q2 2025 → Q3 2025
| AXS Axis Capital Holdings Ltd. | Reduce -42.3% | 6.70% | −9.27 |
| ATMU Atmus Filtration Technologie | Sold out | 0.00% | −3.60 |
| APPF Appfolio Inc. Class A | Reduce -34.7% | 5.14% | −3.21 |
| ODFL Old Dominion Freight Line | Sold out | 0.00% | −2.23 |
| RPRX Royalty Pharma PLC Class A | Sold out | 0.00% | −2.13 |
| SLM SLM Corp. | Sold out | 0.00% | −1.15 |
| AVGO Broadcom Inc. | Reduce -12.8% | 5.23% | −1.13 |
| MEDP Medpace Holdings Inc. | Sold out | 0.00% | −1.03 |
| APH Amphenol Corp. Class A | Reduce -6.3% | 7.51% | −0.60 |
Portfolio Buys Q2 2025 → Q3 2025
| ASML ASML Holding NV-NY Reg SHS | New | 8.67% | +8.67 |
| CLH Clean Harbors Inc. | New | 8.25% | +8.25 |
| AMRZ Amrize Ltd. | New | 6.44% | +6.44 |
| CVS CVS Health Corp. | Add +37.3% | 12.56% | +1.94 |
| PATK Patrick Industries Inc. | Add +50.0% | 7.24% | +1.78 |
| IBP Installed Building Products | Add +30.4% | 3.71% | +1.07 |
| BLDR Builders Firstsource Inc. | Add +28.3% | 4.24% | +0.21 |
| AMD Advanced Micro Devices | Add +14.6% | 4.53% | +0.13 |
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 |