Boyd Watterson Asset Management LLC

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 29, 2024), Boyd Watterson Asset Management LLC reported 411 stock positions worth $274.9 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 8.6% of the portfolio, followed by Microsoft (MSFT, 7.8%) and Eli Lilly (LLY, 4.1%). Compared with Q4 2023, it opened 23 new positions, sold out of 8, added to 55 and reduced 63. The biggest buy was Eli Lilly (LLY, shares +6%) and the biggest sale Apple (AAPL, shares −0%).

Most Recent 13F
Q2 2026
Location
CLEVELAND, OH
CIK
0001121477
Portfolio Value
$274.9M (Q1 2024)
SEC Filing
0001121477-24-000004 ↗ filed Apr 29, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $274.9M $274.9M Q1 2024 Q2 2024: $346.3M Q2 2024 Q3 2024: $361.0M Q3 2024 Q4 2024: $356.1M Q4 2024 Q1 2025: $309.3M Q1 2025 Q2 2025: $314.8M Q2 2025 Q3 2025: $334.8M Q3 2025 Q4 2025: $345.6M Q4 2025 Q1 2026: $324.9M Q1 2026 Q2 2026: $370.6M Q2 2026

Holdings 411 stocks · $274.9M
SPY SS SPDR S&P 500 ETF Trust-US 8.64% 45,395 $23.7M No change
MSFT Microsoft Corp. 7.77% 50,740 $21.3M Add +0.3%
LLY Eli Lilly & Co. 4.10% 14,489 $11.3M Add +6.1%
AVGO Broadcom Inc. 3.73% 7,735 $10.3M Reduce -1.1%
GOOGL Alphabet Inc. Class A 3.51% 63,916 $9.6M Add +4.0%
JPM JPMorgan Chase & Co. 3.22% 44,194 $8.9M Add +0.3%
MDY State Street SPDR S&P Midcap 2.82% 13,930 $7.8M No change
ETN Eaton Corp. PLC 2.77% 24,344 $7.6M Reduce -0.5%
AAPL Apple Inc. 2.73% 43,804 $7.5M Reduce -0.5%
AXP American Express Co. 2.36% 28,514 $6.5M Add +1.2%
ABBV Abbvie Inc. 2.04% 30,803 $5.6M Reduce -4.8%
HON Honeywell International Inc. 2.02% 27,070 $5.6M Add +0.9%
XOM Exxon Mobil Corp. 1.90% 44,952 $5.2M Add +1.2%
MBB iShares MBS ETF 1.76% 52,275 $4.8M Reduce -17.9%
AMZN Amazon.com Inc. 1.67% 25,401 $4.6M Add +1.8%
CAT Caterpillar Inc. 1.43% 10,737 $3.9M Reduce -0.7%
VOO Vanguard S&P 500 ETF 1.42% 8,097 $3.9M No change
JNJ Johnson & Johnson 1.33% 23,139 $3.7M Add +1.0%
LIN Linde PLC 1.30% 7,715 $3.6M Add +0.6%
IOO iShares Global 100 ETF 1.30% 39,980 $3.6M Reduce -0.9%
MRK Merck & Co. Inc. 1.29% 26,895 $3.5M Add +13.7%
V Visa Inc. Class A 1.28% 12,588 $3.5M Add +0.2%
CRWD CrowdStrike Holdings Inc. Class A 1.27% 10,918 $3.5M Reduce -11.6%
PG The Procter & Gamble Co. 1.10% 18,614 $3.0M Reduce -0.4%
CVX Chevron Corp. 1.07% 18,691 $2.9M Add +2.0%
ABT Abbott Laboratories 1.06% 25,633 $2.9M Reduce -0.5%
GOOG Alphabet Inc. Class C 1.00% 18,122 $2.8M Reduce -0.7%
PH Parker Hannifin Corp. 1.00% 4,929 $2.7M Add +1.7%
NVDA Nvidia Corp. 0.99% 3,000 $2.7M No change
IJR iShares Core S&P Small-Cap E 0.98% 24,350 $2.7M No change
QCOM Qualcomm Inc. 0.96% 15,555 $2.6M Add +2.6%
PEP Pepsico Inc. 0.94% 14,688 $2.6M Reduce -12.0%
TMO Thermo Fisher Scientific Inc. 0.90% 4,268 $2.5M Add +1.2%
BMY Bristol-Myers Squibb Co. 0.84% 42,725 $2.3M Reduce -1.8%
CRM Salesforce Inc. 0.81% 7,408 $2.2M Add +4.8%
ORLY O'reilly Automotive Inc. 0.80% 1,958 $2.2M Reduce -7.3%
SHOP Shopify Inc. Class A 0.79% 28,182 $2.2M Add +1.9%
INTC Intel Corp. 0.76% 47,401 $2.1M Add +2.9%
BKNG Booking Holdings Inc. 0.75% 565 $2.0M Reduce -0.3%
SCHD Schwab US DVD Equity ETF 0.75% 25,416 $2.0M Add +12.8%
EFA iShares MSCI Eafe ETF 0.74% 25,332 $2.0M No change
HD Home Depot Inc. 0.70% 5,042 $1.9M No change
PSX Phillips 66 0.66% 11,109 $1.8M No change
EMR Emerson Electric Co. 0.62% 15,053 $1.7M Add +2.4%
TT Trane Technologies PLC 0.59% 5,428 $1.6M Reduce -1.1%
CI The Cigna Group 0.59% 4,453 $1.6M No change
TGT Target Corp. 0.57% 8,916 $1.6M Reduce -1.9%
KO The Coca-Cola Co. 0.55% 24,563 $1.5M No change
EEM iShares MSCI Emerging Market 0.53% 35,325 $1.5M No change
GS Goldman Sachs Group Inc. 0.52% 3,424 $1.4M Add +9.6%
MRSH Marsh & McLennan Cos 0.50% 6,676 $1.4M Add +10.9%
ZBRA Zebra Technologies Corp. Class A 0.45% 4,072 $1.2M Reduce -1.2%
REGN Regeneron Pharmaceuticals 0.42% 1,195 $1.2M Add +30.0%
NEE Nextera Energy Inc. 0.40% 17,098 $1.1M No change
DHR Danaher Corp. 0.34% 3,764 $940K No change
BA The Boeing Co. 0.34% 4,804 $927K Reduce -1.7%
CSX CSX Corp. 0.33% 24,681 $915K Reduce -0.5%
META Meta Platforms Inc. Class A 0.32% 1,793 $871K Add +3.3%
JAAA Janus Henderson Aaa Clo ETF 0.31% 17,000 $863K No change
SPTI SS SPDR P Int Term TSY ETF 0.31% 30,225 $852K Add +26.3%
TRV The Travelers Cos Inc. 0.30% 3,538 $814K No change
IJH iShares Core S&P Midcap ETF 0.29% 13,335 $810K No change
PFE Pfizer Inc. 0.29% 29,096 $807K Reduce -28.7%
UPS United Parcel Service Class B 0.28% 5,226 $777K No change
CMI Cummins Inc. 0.27% 2,520 $742K Add +2.4%
VUG Vanguard Mrngstar GR ETF-Sui 0.26% 2,089 $719K No change
IGIB iShares 5-10Y Inv Grade Corp. 0.26% 13,693 $707K Reduce -1.7%
AMD Advanced Micro Devices 0.25% 3,840 $693K Add +87.8%
TXN Texas Instruments Inc. 0.25% 3,918 $683K Reduce -4.1%
RTX RTX Corp. 0.25% 6,980 $681K Reduce -1.4%
APD Air Products & Chemicals Inc. 0.24% 2,709 $656K No change
SCHW Schwab (charles) Corp. 0.24% 9,014 $652K Reduce -7.0%
GE General Electric 0.22% 3,516 $617K Add +8.8%
CSCO Cisco Systems Inc. 0.22% 12,231 $610K Reduce -1.3%
ROP Roper Technologies Inc. 0.22% 1,087 $610K Add +3.4%
KVUE Kenvue Inc. 0.22% 28,399 $609K Reduce -1.4%
SHEL Shell PLC-ADR 0.21% 8,613 $577K No change
C Citigroup Inc. 0.21% 8,945 $566K Add +178.2%
DNP DNP Select Income Fund Inc. 0.20% 61,778 $560K Add +0.4%
CARR Carrier Global Corp. 0.20% 9,603 $558K Reduce -2.0%
MA Mastercard Inc. Class A 0.20% 1,129 $544K Reduce -12.3%
LOW Lowe's Cos Inc. 0.20% 2,130 $543K Add +4.9%
USB US Bancorp 0.19% 11,750 $525K Reduce -7.8%
COP Conocophillips 0.19% 4,126 $525K Reduce -0.1%
EOG EOG Resources Inc. 0.19% 4,023 $514K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.18% 2,552 $487K Add +0.0%
SYF Synchrony Financial 0.17% 10,568 $456K No change
IEF iShares 7-10 Year Treasury B 0.16% 4,734 $448K Reduce -10.0%
HPQ HP Inc. 0.15% 13,974 $422K Add +7.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.15% 11,075 $420K Add +1.9%
MDLZ Mondelez International Inc. Class A 0.15% 5,968 $418K Reduce -3.6%
SHY iShares 1-3 Year Treasury Bo 0.15% 5,000 $409K No change
MDT Medtronic PLC 0.15% 4,601 $401K Reduce -3.8%
CMG Chipotle Mexican Grill Inc. 0.14% 137 $398K Reduce -7.4%
BLK BlackRock Finance Inc. 0.14% 452 $377K No change
PYPL PayPal Holdings Inc. 0.13% 5,494 $368K Reduce -42.9%
IGSB iShares 1-5Y Inv Grade Corp. 0.13% 6,973 $358K Reduce -12.4%
SJNK SS SPDR BB St Hi Yield ETF 0.13% 13,983 $353K Reduce -9.4%
VMBS Vanguard Mortgage-Backed Sec 0.12% 7,497 $342K Add +110.2%
VCLT Vanguard Long-Term Corp. Bond 0.12% 4,359 $341K Reduce -1.5%
VZ Verizon Communications Inc. 0.12% 8,116 $341K Add +0.1%
OTIS Otis Worldwide Corp. 0.12% 3,427 $340K Add +5.3%
ITW Illinois Tool Works 0.12% 1,260 $338K No change
MCK McKesson Corp. 0.12% 627 $337K No change
EXPE Expedia Group Inc. 0.12% 2,362 $325K Add +5.5%
FAST Fastenal Co. 0.12% 4,104 $317K Reduce -19.4%
WMT Walmart Inc. 0.11% 5,121 $308K No change
SPTL SS SPDR PF LNG TRM TSY E-Usd 0.11% 10,741 $300K Reduce -10.0%
PFF iShares Preferred & Income S 0.11% 9,266 $299K Add +9.5%
PAYC Paycom Software Inc. 0.10% 1,416 $282K Add +10.3%
AMGN Amgen Inc. 0.10% 990 $281K Add +0.1%
BKLN Invesco Senior Loan ETF 0.08% 10,573 $224K No change
AVB Avalonbay Communities Inc. 0.08% 1,187 $220K No change
KLAC KLA Corp. 0.08% 309 $216K No change
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.08% 533 $212K No change
USHY iShares Broad Usd High Yield 0.07% 5,626 $206K Reduce -10.0%
WFC Wells Fargo & Co. 0.07% 3,482 $202K No change
AMP Ameriprise Financial Inc. 0.07% 457 $200K Reduce -0.2%
MS Morgan Stanley 0.07% 2,106 $198K Add +0.1%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.07% 2,386 $185K Add +4.4%
EXC Exelon Corp. 0.07% 4,887 $184K Add +0.0%
UNH Unitedhealth Group Inc. 0.06% 331 $164K No change
NFLX Netflix Inc. 0.06% 250 $152K No change
PPG PPG Industries Inc. 0.05% 965 $140K No change
OKE Oneok Inc. 0.05% 1,659 $133K No change
VGSH Vanguard Short-Term Treasury 0.05% 2,223 $129K Reduce -63.7%
SPGI S&P Global Inc. 0.05% 299 $127K Reduce -7.7%
MCD McDonald's Corp. 0.05% 443 $125K No change
IR Ingersoll-Rand Inc. 0.05% 1,314 $125K No change
OGN Organon & Co. 0.05% 6,635 $125K No change
SYY Sysco Corp. 0.04% 1,525 $124K Reduce -34.7%
MMM 3M Co. 0.04% 1,167 $124K Reduce -7.9%
CL Colgate-Palmolive Co. 0.04% 1,350 $122K Reduce -10.0%
KMI Kinder Morgan Inc. 0.04% 6,612 $121K Add +4.3%
TAP Molson Coors Beverage Co. Class B 0.04% 1,750 $118K No change
TFC Truist Financial Corp. 0.04% 3,012 $117K Reduce -3.8%
NUE Nucor Corp. 0.04% 587 $116K No change
PINS Pinterest Inc. Class A 0.04% 3,348 $116K Add +19.4%
PAYX Paychex Inc. 0.04% 941 $116K No change
WM Waste Management Inc. 0.04% 520 $111K No change
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.04% 965 $105K Reduce -37.2%
ZBH Zimmer Biomet Holdings Inc. 0.04% 750 $99K No change
HCA HCA Healthcare Inc. 0.04% 292 $97K No change
EBAY eBay Inc. 0.03% 1,722 $91K No change
VTRS Viatris Inc. 0.03% 7,610 $91K No change
ORCL Oracle Corp. 0.03% 719 $90K No change
MPC Marathon Petroleum Corp. 0.03% 436 $88K Reduce -27.4%
YUM Yum! Brands Inc. 0.03% 610 $85K No change
IUSV iShares Core S&P U.S. Value 0.03% 900 $81K No change
KMB Kimberly-Clark Corp. 0.03% 610 $79K No change
SO The Southern Co. 0.03% 1,070 $77K No change
MPLX MPLX LP 0.03% 1,815 $75K No change
T AT&T Inc. 0.03% 4,173 $73K Reduce -6.8%
PSA Public Storage 0.03% 240 $70K No change
PGR Progressive Corp. 0.03% 334 $69K No change
DUK Duke Energy Corp. 0.02% 697 $67K No change
LVMUY LVMH Moet Hennessy-Unsp ADR 0.02% 369 $66K No change
VLO Valero Energy Corp. 0.02% 382 $65K No change
MO Altria Group Inc. 0.02% 1,492 $65K Add +30.6%
DRI Darden Restaurants Inc. 0.02% 389 $65K No change
TEL Te Connectivity Ltd. 0.02% 445 $65K No change
BDX Becton Dickinson and Co. 0.02% 256 $63K Reduce -5.9%
UNP Union Pacific Corp. 0.02% 257 $63K No change
CB Chubb Ltd. 0.02% 226 $59K No change
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.02% 1,060 $58K No change
CAH Cardinal Health Inc. 0.02% 518 $58K No change
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.02% 56 $57K No change
WAT Waters Corp. 0.02% 160 $55K No change
MITSY Mitsui & Co. Ltd.-Spons ADR 0.02% 59 $55K No change
VNQ Vanguard Real Estate ETF 0.02% 634 $55K No change
UL Unilever PLC 0.02% 1,052 $53K No change
BRK.B Berkshire Hathaway Inc. Class B 0.02% 125 $53K Reduce -39.6%
FLRN SS SPDR BB Ig Float RT ETF 0.02% 1,696 $52K Reduce -11.7%
KEYS Keysight Technologies Inc. 0.02% 332 $52K No change
TSM Taiwan Semiconductor-SP ADR 0.02% 362 $49K No change
RHI Robert Half Inc. 0.02% 620 $49K No change
GIS General Mills Inc. 0.02% 681 $48K No change
BAESY Bae Systems PLC -Spon ADR 0.02% 685 $47K No change
AON Aon PLC Class A 0.02% 138 $46K No change
LMT Lockheed Martin Corp. 0.02% 99 $45K No change
TM Toyota Motor Corp. -Spon ADR 0.02% 174 $44K No change
SCCO Southern Copper Corp. 0.02% 408 $43K No change
EPD Enterprise Products Partners 0.02% 1,480 $43K No change
COR Cencora Inc. 0.02% 177 $43K No change
CINF Cincinnati Financial Corp. 0.02% 338 $42K No change
FITB Fifth Third Bancorp 0.01% 1,101 $41K No change
GPC Genuine Parts Co. 0.01% 262 $41K No change
MSI Motorola Solutions Inc. 0.01% 114 $40K No change
MUB iShares National Muni Bond E 0.01% 375 $40K No change
AEP American Electric Power 0.01% 460 $40K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.01% 320 $39K Reduce -7.3%
ALIZY Allianz SE - Unsp ADR 0.01% 1,287 $39K No change
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.01% 600 $38K No change
VGT Vanguard Info Tech ETF 0.01% 72 $38K No change
FIS Fidelity National Info Serv 0.01% 500 $37K No change
ABBNY Abb Ltd.-Spon ADR 0.01% 774 $36K No change
PFG Principal Financial Group 0.01% 415 $36K No change
VEU Vanguard Ftse All-World Ex-U 0.01% 607 $36K No change
F Ford Motor Co. filed as FORD MTR CO DEL 0.01% 2,657 $35K No change
CVS CVS Health Corp. 0.01% 435 $35K No change
NTTYY NTT Inc. - ADR filed as NIPPON TEL & TEL CORP ADR 0.01% 1,166 $35K No change
IPG Interpublic Group of Cos Inc. 0.01% 1,061 $35K No change
SUB iShares Short-Term National 0.01% 329 $34K No change
AXAHY AXA -Spons ADR filed as AXA ADR 0.01% 913 $34K No change
PCY Invesco Emerging Markets Sov 0.01% 1,665 $34K Add +13.0%
STIP iShares 0-5 Year Tips Bond E 0.01% 329 $33K No change
BBWI Bath & Body Works Inc. 0.01% 650 $33K No change
CNP Centerpoint Energy Inc. 0.01% 1,132 $32K No change
IHG Intercontinental Hotels-ADR 0.01% 304 $32K No change
CEG Constellation Energy 0.01% 167 $31K No change
ED Consolidated Edison Inc. 0.01% 339 $31K No change
DBSDY DBS Group Holdings-Spon ADR 0.01% 285 $30K No change
FLOT iShares Floating Rate Bond E 0.01% 588 $30K Add +38.4%
PEG Public Service Enterprise GP 0.01% 448 $30K No change
NI Nisource Inc. 0.01% 1,076 $30K No change
PM Philip Morris International 0.01% 322 $30K Add +250.0%
VWO Vanguard Ftse Emerging Marke 0.01% 700 $29K No change
ELV Elevance Health Inc. 0.01% 56 $29K No change
MUFG Mitsubishi Ufj Finl-Spon ADR 0.01% 2,838 $29K No change
MDXG Mimedx Group Inc. 0.01% 3,670 $28K No change
LEG Leggett & Platt Inc. 0.01% 1,464 $28K No change
SIEGY Siemens AG-Spons ADR 0.01% 292 $28K No change
ILMN Illumina Inc. 0.01% 200 $27K No change
D Dominion Energy Inc. 0.01% 557 $27K No change
LNC Lincoln National Corp. 0.01% 850 $27K No change
AMJ JPMorgan Alerian MLP Index 0.01% 943 $27K No change
NSC Norfolk Southern Corp. 0.01% 104 $27K No change
IX Orix - Sponsored ADR filed as ORIX CORP 0.01% 240 $26K No change
VCR Vanguard Consumer Discre ETF 0.01% 80 $25K No change
NSRGY Nestle SA-Spons ADR 0.01% 239 $25K No change
COF Capital One Financial Corp. 0.01% 169 $25K No change
PAA Plains All Amer Pipeline LP 0.01% 1,423 $25K No change
SPG Simon Property Group Inc. 0.01% 153 $24K No change
JCI Johnson Controls Internation 0.01% 365 $24K No change
FISV Fiserv Inc. 0.01% 149 $24K No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.01% 233 $24K Reduce -32.3%
OMC Omnicom Group 0.01% 242 $23K No change
NVS Novartis AG-Sponsored ADR 0.01% 242 $23K No change
TTE Totalenergies SE -Spon ADR 0.01% 335 $23K No change
VRP Invesco Variable Rate Prefer 0.01% 967 $23K New
KMTUY Komatsu Ltd. -Spons ADR 0.01% 778 $23K No change
DFS Discover Financial Services 0.01% 173 $23K No change
IBDRY Iberdrola SA-Sponsored ADR 0.01% 440 $22K No change
O Realty Income Corp. 0.01% 403 $22K Add +291.3%
DEO Diageo PLC-Sponsored ADR 0.01% 144 $21K No change
WELL Welltower Inc. 0.01% 228 $21K No change
BHP BHP Group Ltd.-Spon ADR 0.01% 368 $21K No change
RIO Rio Tinto PLC-Spon ADR 0.01% 332 $21K No change
XLF SS Financial Select Sector 0.01% 500 $21K No change
HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC 0.01% 523 $21K No change
IP International Paper Co. 0.01% 526 $21K No change
ENB Enbridge Inc. 0.01% 564 $20K No change
TD Toronto-Dominion Bank 0.01% 332 $20K No change
VHT Vanguard Health Care ETF 0.01% 74 $20K No change
WEX Wex Inc. 0.01% 83 $20K No change
SNY Sanofi-ADR 0.01% 398 $19K No change
FDX FedEx Corp. 0.01% 66 $19K No change
WU Western Union Co. 0.01% 1,357 $19K No change
WEC WEC Energy Group Inc. 0.01% 228 $19K No change
LHX L3HARRIS Technologies Inc. 0.01% 86 $18K No change
BTI British American Tob-SP ADR 0.01% 600 $18K New
AA Alcoa Corp. 0.01% 538 $18K No change
ET Energy Transfer LP 0.01% 1,129 $18K No change
INFY Infosys Ltd.-SP ADR 0.01% 948 $17K No change
ZTS Zoetis Inc. 0.01% 100 $17K Reduce -33.3%
BE Bloom Energy Corp. Class A 0.01% 1,500 $17K No change
DD Dupont DE Nemours Inc. 0.01% 213 $16K No change
IDXX Idexx Laboratories Inc. 0.01% 30 $16K No change
LW Lamb Weston Holdings Inc. 0.01% 143 $15K No change
LYB Lyondellbasell Indu Class A 0.01% 148 $15K No change
BASFY Basf SE-Spon ADR 0.01% 996 $14K No change
BNPQY BNP Paribas-ADR 0.01% 399 $14K No change
EIX Edison International 0.01% 195 $14K No change
FE Firstenergy Corp. 0.01% 357 $14K No change
VIS Vanguard Industrials ETF 0.01% 56 $14K No change
GEHC GE Healthcare Technology 0.01% 150 $14K No change
IMCB iShares Morningstar Mid-Cap 0.00% 184 $13K No change
LAZ Lazard Inc. 0.00% 317 $13K No change
DOW Dow Inc. 0.00% 223 $13K No change
CAG Conagra Brands Inc. 0.00% 431 $13K No change
PAGP Plains GP Holdings LP 0.00% 700 $13K New
DE Deere & Co. 0.00% 30 $12K No change
CTVA Corteva Inc. 0.00% 213 $12K No change
IEX Idex Corp. 0.00% 50 $12K Reduce -33.3%
VDC Vanguard Consumer Staple ETF 0.00% 58 $12K No change
CAJPY Canon Inc.-Spons ADR 0.00% 393 $12K No change
MAT Mattel Inc. 0.00% 584 $12K No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.00% 200 $12K No change
GBTC Grayscale Bitcoin Trust ETF 0.00% 182 $11K New
MU Micron Technology Inc. 0.00% 97 $11K No change
GSK GSK PLC-Spon ADR 0.00% 251 $11K No change
SMG Scotts Miracle-Gro Co. 0.00% 140 $10K No change
FBIN Fortune Brands Innovations I 0.00% 123 $10K No change
ERIC Ericsson (lm) Tel-SP ADR filed as TELEFONAKTIEBOLAGET LM ERICS 0.00% 1,806 $10K No change
HPE Hewlett Packard Enterprise 0.00% 560 $10K No change
OHI Omega Healthcare Investors 0.00% 300 $10K New
HMC Honda Motor Co. Ltd.-Spons ADR 0.00% 250 $9K No change
BARNES GROUP INC 0.00% 250 $9K No change
VFH Vanguard Financials ETF 0.00% 88 $9K No change
WPP WPP PLC-Sponsored ADR 0.00% 189 $9K No change
VAW Vanguard Materials ETF 0.00% 43 $9K No change
NS Nustar Energy LP 0.00% 367 $9K No change
NTRS Northern Trust Corp. 0.00% 95 $8K No change
TSLA Tesla Inc. 0.00% 48 $8K No change
E Eni SPA-Sponsored ADR 0.00% 265 $8K No change
PETQ Petiq Inc. 0.00% 450 $8K No change
CSQ Calamos Strat TTL RTRN FND 0.00% 500 $8K New
MET Metlife Inc. 0.00% 100 $7K New
EMB iShares JP Morgan Usd Emergi 0.00% 80 $7K No change
NEM Newmont Corp. 0.00% 200 $7K New
QYLD Global X Nasd 100 Cov Call 0.00% 390 $7K Add +56.0%
AVY Avery Dennison Corp. 0.00% 31 $7K No change
FTV Fortive Corp. 0.00% 80 $7K No change
FCX Freeport-McMoran Inc. 0.00% 144 $7K No change
IDU iShares US Utilities ETF 0.00% 80 $7K No change
HOG Harley-Davidson Inc. 0.00% 154 $7K No change
VLTO Veralto Corp. 0.00% 75 $7K Reduce -81.8%
ACN Accenture PLC Class A 0.00% 19 $7K No change
REZI Resideo Technologies Inc. 0.00% 276 $6K No change
ORI Old Republic Intl Corp. 0.00% 200 $6K New
BXMT Blackstone Mortgage Tru Class A 0.00% 300 $6K New
ADX Adams Diversified Equity 0.00% 300 $6K New
ROK Rockwell Automation Inc. 0.00% 20 $6K No change
CLF Cleveland-Cliffs Inc. 0.00% 254 $6K No change
WBD Warner Bros Discovery Inc. 0.00% 657 $6K Reduce -23.8%
EPSN Epsilon Energy Ltd. 0.00% 1,000 $5K New
MCY Mercury General Corp. 0.00% 100 $5K New
FLR Fluor Corp. 0.00% 116 $5K No change
PNR Pentair PLC 0.00% 56 $5K No change
DFIN Donnelley Financial Solution 0.00% 76 $5K No change
IVZ Invesco Ltd. 0.00% 267 $4K No change
VOD Vodafone Group PLC-SP ADR 0.00% 492 $4K No change
VDE Vanguard Energy ETF 0.00% 32 $4K No change
CEDAR FAIR LP 0.00% 100 $4K No change
GLW Corning Inc. 0.00% 125 $4K No change
GUT Gabelli Utility Trust 0.00% 720 $4K No change
VSXY Victoria's Secret & Co. 0.00% 204 $4K No change
WPC WP Carey Inc. 0.00% 70 $4K New
JNK SS SPDR BB High Yield Bond 0.00% 41 $4K No change
ALC Alcon Inc. filed as ALCON AG 0.00% 46 $4K No change
CHTR Charter Communications Inc. Class A 0.00% 13 $4K No change
ADP Automatic Data Processing 0.00% 15 $4K No change
ABR Arbor Realty Trust Inc. 0.00% 277 $4K New
USA Liberty All Star Equity Fund 0.00% 500 $4K New
ARCC Ares Capital Corp. 0.00% 170 $4K No change
HR Healthcare Realty Trust Inc. 0.00% 250 $4K New
ETSY Etsy Inc. 0.00% 50 $3K No change
IYZ iShares US Telecommunication 0.00% 152 $3K No change
JNPR Juniper Networks Inc. 0.00% 90 $3K No change
KD Kyndryl Holdings Inc. 0.00% 144 $3K No change
AGG iShares Core U.S. Aggregate 0.00% 30 $3K Reduce -99.6%
CUK Carnival PLC-ADR 0.00% 198 $3K No change
JPC Nuveen Prefered & Income Opp 0.00% 395 $3K New
RITM Rithm Capital Corp. 0.00% 250 $3K New
SLVM Sylvamo Corp. 0.00% 44 $3K No change
HLN Haleon PLC-ADR 0.00% 316 $3K No change
BXP BXP Inc. filed as BOSTON PROPERTIES INC 0.00% 41 $3K No change
WDS Woodside Energy Group-ADR 0.00% 130 $3K No change
AMT American Tower Corp. 0.00% 13 $3K No change
CCL Carnival Corp. 0.00% 155 $3K No change
DVA Davita Inc. 0.00% 18 $2K No change
PLUG Plug Power Inc. 0.00% 700 $2K No change
AKAM Akamai Technologies Inc. 0.00% 22 $2K No change
CMS CMS Energy Corp. 0.00% 39 $2K No change
AFL Aflac Inc. 0.00% 27 $2K No change
MBC Masterbrand Inc. 0.00% 123 $2K No change
CDP Copt Defense Properties 0.00% 95 $2K No change
NWL Newell Brands Inc. 0.00% 279 $2K No change
DOV Dover Corp. 0.00% 12 $2K No change
PRU Prudential Financial Inc. 0.00% 16 $2K No change
SMCWX Amer FND Smallcap WRLD-A filed as AMERICAN FUNDS SMALL CAP WORLD 0.00% 27 $2K No change
OXY Occidental Petroleum Corp. 0.00% 27 $2K No change
DGX Quest Diagnostics Inc. 0.00% 13 $2K No change
WAB Wabtec Corp. 0.00% 11 $2K No change
NVT Nvent Electric PLC 0.00% 21 $2K No change
NTAP Netapp Inc. 0.00% 15 $2K No change
NTR Nutrien Ltd. 0.00% 29 $2K No change
CTSH Cognizant Tech Solutions-A 0.00% 21 $2K No change
SJM The JM Smucker Co. filed as SMUCKER J M CO 0.00% 12 $2K No change
BN Brookfield Corp. 0.00% 36 $2K New
DOC Healthpeak Properties Inc. 0.00% 78 $1K No change
ASIX Advansix Inc. 0.00% 49 $1K No change
SDZNY Sandoz Group AG-ADR 0.00% 46 $1K No change
ACLLY Accelleron Industries AG 0.00% 36 $1K No change
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.00% 15 $1K No change
FRO Frontline PLC 0.00% 55 $1K No change
DHC Diversified Healthcare Trust 0.00% 500 $1K New
VNT Vontier Corp. 0.00% 26 $1K No change
SWK Stanley Black & Decker Inc. 0.00% 12 $1K No change
GTX Garrett Motion Inc. 0.00% 116 $1K No change
VNO Vornado Realty Trust 0.00% 40 $1K No change
WRK Westrock Co. 0.00% 23 $1K No change
SONY Sony Group Corp. - SP ADR 0.00% 10 $857 No change
CC The Chemours Co. 0.00% 29 $762 No change
CHRW C.H. Robinson Worldwide Inc. 0.00% 9 $685 No change
TRIP Tripadvisor Inc. 0.00% 24 $667 No change
ADNT Adient PLC 0.00% 18 $593 No change
SAIC Science Applications Inte 0.00% 4 $522 No change
BAM Brookfield Asset Mgmt-A 0.00% 9 $378 New
UE Urban Edge Properties 0.00% 20 $345 No change
NGVT Ingevity Corp. 0.00% 7 $334 No change
JBGS JBG Smith Properties 0.00% 20 $321 No change
AIG American International Group 0.00% 4 $313 No change
FCPT Four Corners Property Trust 0.00% 12 $294 No change
AVNS Avanos Medical Inc. 0.00% 11 $219 No change
RMR RMR Group Inc./the - A 0.00% 7 $168 No change
ONL Orion Properties Inc. filed as ORION OFFICE REIT INC 0.00% 40 $140 Add +300.0%
ZIMV Zimvie Inc. 0.00% 7 $115 No change
NLOP Net Lease Office Property 0.00% 4 $95 New
OPITQ Office Properties Income Tru 0.00% 25 $51 No change
EMBC Embecta Corp. 0.00% 3 $40 Reduce -50.0%
Other holdings (29): bonds, preferreds, convertibles and warrants · $4.1M (not counted above)
SecurityClassShares / PrincipalValueChange
US BANCORP (USB 4 PERP M) PFD 84,165$1.6MNo change
CHARLES SCHWAB CORP (SCHW 4.45 PERP J) PFD 40,750$875KReduce -4.7%
HUNTINGTON BANCSHARES (HBAN 4.5 PERP H) PFD 25,300$491KReduce -7.3%
NATIONAL RURAL UTIL COOP (NRUC 5.5 05/15/64 US) PFD 9,612$241KNo change
BRUNSWICK CORP (BC 6.5 10/15/48) PFD 9,338$239KNo change
NEXTERA ENERGY CAPITAL (NEE 5.65 03/01/79 N) PFD 8,948$225KNo change
SOUTHERN CO (SO 4.2 10/15/60 C) PFD 10,100$207KNo change
REINSURANCE GRP OF AMER (RGA V5.75 06/15/56) PFD 2,366$59KNo change
AMERICAN FINANCIAL GROUP (AFG 5.875 03/30/59) Common Stock 876$22KNo change
BRUNSWICK CORP (BC 6.625 01/15/49) PFD 871$22KNo change
KIMCO REALTY CORP (KIM 5.25 PERP M) PFD 655$15KNo change
ZIONS BANCORP NA (ZION V0 PERP G) COM 500$13KNo change
GOLDMAN SACHS GROUP INC (GS F PERP D) Preferred Stock 500$12KNo change
HUNTINGTON BANCSHARES (HBAN V6.875 PERP J) PFD 150$4KNew
FIFTH THIRD BANCORP (FITB 4.95 PERP K) Common Stock 150$4KNo change
AT&T INC (T 4.75 PERP C) PFD 165$3KNo change
READY CAPITAL CORP (RC 6.25 PERP C) 6.25 CNV PFD C 170$3KNew
FORD MOTOR COMPANY (F 6.5 08/15/62) PREFERRED DEBT 125$3KNo change
DUKE ENERGY CORP (DUK 5.75 PERP A) Common Stock 125$3KNo change
JPMORGAN CHASE & CO (JPM 6 PERP EE) Common Stock 125$3KNo change
UNUM GROUP (UNM 6.25 06/15/58) PFD 125$3KNo change
GEORGIA POWER CO (SO 5 10/01/77 2017) COM 125$3KNo change
BROOKFIELD OAKTREE HLDGS (OAK 6.625 PERP A) PFD 125$3KNo change
JPMORGAN CHASE & CO (JPM 4.75 PERP GG) Common Stock 125$3KNo change
BANK OF AMERICA CORP (BAC 5 PERP LL) PFD 125$3KNo change
TRUIST FINANCIAL CORP (TFC 4.75 PERP R) COM 125$3KNo change
WELLS FARGO & COMPANY (WFC 5.625 PERP Y) PREFERRED STOCK 100$2KNo change
BROOKFIELD PROP PFD LP (BPY 6.25 07/26/81) Common Stock 26$390New
OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 3$129No change

Total filed on the 13F, all lines: $279.0M.

Portfolio Sells Q4 2023 → Q1 2024
AAPL Apple Inc. Reduce -0.5% 2.73% −0.67
MBB iShares MBS ETF Reduce -17.9% 1.76% −0.65
AGG iShares Core U.S. Aggregate Reduce -99.6% 0.00% −0.33
WBA Walgreens Boots Alliance Inc. Sold out 0.00% −0.21
PEP Pepsico Inc. Reduce -12.0% 0.94% −0.20
PFE Pfizer Inc. Reduce -28.7% 0.29% −0.18
BA The Boeing Co. Reduce -1.7% 0.34% −0.17
PYPL PayPal Holdings Inc. Reduce -42.9% 0.13% −0.10
VGSH Vanguard Short-Term Treasury Reduce -63.7% 0.05% −0.10
SGOV iShares 0-3 Month Treasury B Sold out 0.00% −0.09
ABT Abbott Laboratories Reduce -0.5% 1.06% −0.08
BKNG Booking Holdings Inc. Reduce -0.3% 0.75% −0.06
BMY Bristol-Myers Squibb Co. Reduce -1.8% 0.84% −0.05
IEF iShares 7-10 Year Treasury B Reduce -10.0% 0.16% −0.04
IGIB iShares 5-10Y Inv Grade Corp. Reduce -1.7% 0.26% −0.03
IGSB iShares 1-5Y Inv Grade Corp. Reduce -12.4% 0.13% −0.03
TXN Texas Instruments Inc. Reduce -4.1% 0.25% −0.03
SCHW Schwab (charles) Corp. Reduce -7.0% 0.24% −0.03
USB US Bancorp Reduce -7.8% 0.19% −0.03
LQD Ishr Ibx Usd Invgd CB ETF-Ui Reduce -37.2% 0.04% −0.03
SPTL SS SPDR PF LNG TRM TSY E-Usd Reduce -10.0% 0.11% −0.03
CSCO Cisco Systems Inc. Reduce -1.3% 0.22% −0.03
GOOG Alphabet Inc. Class C Reduce -0.7% 1.00% −0.03
MDLZ Mondelez International Inc. Class A Reduce -3.6% 0.15% −0.03
SJNK SS SPDR BB St Hi Yield ETF Reduce -9.4% 0.13% −0.03
KVUE Kenvue Inc. Reduce -1.4% 0.22% −0.03
SYY Sysco Corp. Reduce -34.7% 0.04% −0.02
CARR Carrier Global Corp. Reduce -2.0% 0.20% −0.02
MA Mastercard Inc. Class A Reduce -12.3% 0.20% −0.02
VCLT Vanguard Long-Term Corp. Bond Reduce -1.5% 0.12% −0.02
FAST Fastenal Co. Reduce -19.4% 0.12% −0.02
USHY iShares Broad Usd High Yield Reduce -10.0% 0.07% −0.02
GVI iShares Intermediate Governm Sold out 0.00% −0.01
CSX CSX Corp. Reduce -0.5% 0.33% −0.01
MDT Medtronic PLC Reduce -3.8% 0.15% −0.01
VLTO Veralto Corp. Reduce -81.8% 0.00% −0.01
SPGI S&P Global Inc. Reduce -7.7% 0.05% −0.01
IHY Vaneck Int High Yield Bond Sold out 0.00% −0.01
MMM 3M Co. Reduce -7.9% 0.04% −0.01
BRK.B Berkshire Hathaway Inc. Class B Reduce -39.6% 0.02% −0.01
ZTS Zoetis Inc. Reduce -33.3% 0.01% −0.01
FMB First Trust Managed Municipa Sold out 0.00% −0.01
ZBRA Zebra Technologies Corp. Class A Reduce -1.2% 0.45% −0.01
FLRN SS SPDR BB Ig Float RT ETF Reduce -11.7% 0.02% −0.00
TJX TJX Companies Inc. Reduce -32.3% 0.01% −0.00
CL Colgate-Palmolive Co. Reduce -10.0% 0.04% −0.00
MPC Marathon Petroleum Corp. Reduce -27.4% 0.03% −0.00
TFC Truist Financial Corp. Reduce -3.8% 0.04% −0.00
BDX Becton Dickinson and Co. Reduce -5.9% 0.02% −0.00
T AT&T Inc. Reduce -6.8% 0.03% −0.00

Portfolio Buys Q4 2023 → Q1 2024
LLY Eli Lilly & Co. Add +6.1% 4.10% +0.91
MRK Merck & Co. Inc. Add +13.7% 1.29% +0.26
AXP American Express Co. Add +1.2% 2.36% +0.24
JPM JPMorgan Chase & Co. Add +0.3% 3.22% +0.21
AMZN Amazon.com Inc. Add +1.8% 1.67% +0.15
C Citigroup Inc. Add +178.2% 0.21% +0.14
AMD Advanced Micro Devices Add +87.8% 0.25% +0.13
MSFT Microsoft Corp. Add +0.3% 7.77% +0.13
XOM Exxon Mobil Corp. Add +1.2% 1.90% +0.12
PH Parker Hannifin Corp. Add +1.7% 1.00% +0.10
REGN Regeneron Pharmaceuticals Add +30.0% 0.42% +0.09
QCOM Qualcomm Inc. Add +2.6% 0.96% +0.08
META Meta Platforms Inc. Class A Add +3.3% 0.32% +0.07
CRM Salesforce Inc. Add +4.8% 0.81% +0.06
GOOGL Alphabet Inc. Class A Add +4.0% 3.51% +0.06
GE General Electric Add +8.8% 0.22% +0.06
VMBS Vanguard Mortgage-Backed Sec Add +110.2% 0.12% +0.06
SCHD Schwab US DVD Equity ETF Add +12.8% 0.75% +0.06
EMR Emerson Electric Co. Add +2.4% 0.62% +0.05
MRSH Marsh & McLennan Cos Add +10.9% 0.50% +0.04
LIN Linde PLC Add +0.6% 1.30% +0.04
GS Goldman Sachs Group Inc. Add +9.6% 0.52% +0.04
SPTI SS SPDR P Int Term TSY ETF Add +26.3% 0.31% +0.04
CMI Cummins Inc. Add +2.4% 0.27% +0.03
LOW Lowe's Cos Inc. Add +4.9% 0.20% +0.02
IBM Intl Business Machines Corp. Add +0.0% 0.18% +0.01
VRP Invesco Variable Rate Prefer New 0.01% +0.01
PM Philip Morris International Add +250.0% 0.01% +0.01
OTIS Otis Worldwide Corp. Add +5.3% 0.12% +0.01
BTI British American Tob-SP ADR New 0.01% +0.01
BAC Bank of America Corp. Add +1.9% 0.15% +0.01
O Realty Income Corp. Add +291.3% 0.01% +0.01
MO Altria Group Inc. Add +30.6% 0.02% +0.01
PAGP Plains GP Holdings LP New 0.00% +0.00
GBTC Grayscale Bitcoin Trust ETF New 0.00% +0.00
TMO Thermo Fisher Scientific Inc. Add +1.2% 0.90% +0.00
OHI Omega Healthcare Investors New 0.00% +0.00
CSQ Calamos Strat TTL RTRN FND New 0.00% +0.00
PFF iShares Preferred & Income S Add +9.5% 0.11% +0.00
MET Metlife Inc. New 0.00% +0.00
NEM Newmont Corp. New 0.00% +0.00
FLOT iShares Floating Rate Bond E Add +38.4% 0.01% +0.00
BXMT Blackstone Mortgage Tru Class A New 0.00% +0.00
ORI Old Republic Intl Corp. New 0.00% +0.00
ADX Adams Diversified Equity New 0.00% +0.00
EPSN Epsilon Energy Ltd. New 0.00% +0.00
MCY Mercury General Corp. New 0.00% +0.00
WPC WP Carey Inc. New 0.00% +0.00
ABR Arbor Realty Trust Inc. New 0.00% +0.00
HR Healthcare Realty Trust Inc. New 0.00% +0.00

Notes & Other Activity Q4 2023 → Q1 2024
CHARLES SCHWAB CORP (SCHW 4.45 PERP J) PFD Reduce -4.7% 40,750 $875K
HUNTINGTON BANCSHARES (HBAN 4.5 PERP H) PFD Reduce -7.3% 25,300 $491K
STATE STREET CORP (STT V5.9 PERP D) PFD Sold out 150 $4Kbefore exit
HUNTINGTON BANCSHARES (HBAN V6.875 PERP J) PFD New 150 $4K
READY CAPITAL CORP (RC 6.25 PERP C) 6.25 CNV PFD C New 170 $3K
BROOKFIELD PROP PFD LP (BPY 6.25 07/26/81) Common Stock New 26 $390

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 388$370.6MSPY, GOOGL, MSFT, AVGO, JPM
Q1 2026 383$324.9MSPY, MSFT, GOOGL, AVGO, JPM
Q4 2025 398$345.6MSPY, MSFT, GOOGL, AVGO, JPM
Q3 2025 394$334.8MMSFT, SPY, AVGO, GOOGL, JPM
Q2 2025 399$314.8MMSFT, SPY, AVGO, GOOGL, JPM
Q1 2025 403$309.3MSPY, MSFT, IGSB, GOOGL, JPM
Q4 2024 407$356.1MIGSB, SPY, MSFT, IGIB, AVGO
Q3 2024 409$361.0MIGSB, IGIB, SPY, MSFT, VCLT
Q2 2024 413$346.3MIGSB, IGIB, MSFT, SPY, VCLT
Q1 2024Amended 411$274.9MSPY, MSFT, LLY, AVGO, GOOGL