Boyd Watterson Asset Management LLC

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Boyd Watterson Asset Management LLC reported 413 stock positions worth $346.3 million. Its top holding was iShares 1-5Y Inv Grade (IGSB) at 8.8% of the portfolio, followed by iShares 5-10Y Inv Grade (IGIB, 7.3%) and Microsoft (MSFT, 6.7%). Compared with Q1 2024, it opened 17 new positions, sold out of 18, added to 35 and reduced 64. The biggest buy was iShares 1-5Y Inv Grade (IGSB, shares +8440%) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −14%).

Most Recent 13F
Q2 2026
Location
CLEVELAND, OH
CIK
0001121477
Portfolio Value
$346.3M (Q2 2024)
SEC Filing
0001121477-24-000007 ↗ filed Aug 14, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $274.9M Q1 2024 Q2 2024: $346.3M $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 413 stocks · $346.3M
IGSB iShares 1-5Y Inv Grade Corp. 8.81% 595,507 $30.5M Add +8440.2%
IGIB iShares 5-10Y Inv Grade Corp. 7.30% 492,854 $25.3M Add +3499.3%
MSFT Microsoft Corp. 6.71% 51,978 $23.2M Add +2.4%
SPY SS SPDR S&P 500 ETF Trust-US 6.10% 38,838 $21.1M Reduce -14.4%
VCLT Vanguard Long-Term Corp. Bond 3.97% 181,346 $13.8M Add +4060.3%
AVGO Broadcom Inc. 3.52% 7,599 $12.2M Reduce -1.8%
LLY Eli Lilly & Co. 3.38% 12,944 $11.7M Reduce -10.7%
GOOGL Alphabet Inc. Class A 3.33% 63,311 $11.5M Reduce -0.9%
AAPL Apple Inc. 2.63% 43,262 $9.1M Reduce -1.2%
JPM JPMorgan Chase & Co. 2.51% 42,951 $8.7M Reduce -2.8%
ETN Eaton Corp. PLC 2.13% 23,541 $7.4M Reduce -3.3%
MDY State Street SPDR S&P Midcap 2.11% 13,680 $7.3M Reduce -1.8%
AXP American Express Co. 1.90% 28,424 $6.6M Reduce -0.3%
HON Honeywell International Inc. 1.67% 27,113 $5.8M Add +0.2%
AMZN Amazon.com Inc. 1.51% 27,104 $5.2M Add +6.7%
XOM Exxon Mobil Corp. 1.50% 45,036 $5.2M Add +0.2%
MBB iShares MBS ETF 1.37% 51,659 $4.7M Reduce -1.2%
ABBV Abbvie Inc. 1.18% 23,871 $4.1M Reduce -22.5%
VOO Vanguard S&P 500 ETF 1.17% 8,097 $4.0M No change
IOO iShares Global 100 ETF 1.10% 39,480 $3.8M Reduce -1.3%
NVDA Nvidia Corp. 1.07% 30,000 $3.7M No change
CRWD CrowdStrike Holdings Inc. Class A 1.04% 9,432 $3.6M Reduce -13.6%
CAT Caterpillar Inc. 1.03% 10,737 $3.6M No change
JNJ Johnson & Johnson 1.00% 23,786 $3.5M Add +2.8%
LIN Linde PLC 0.98% 7,715 $3.4M No change
MRK Merck & Co. Inc. 0.96% 26,927 $3.3M Add +0.1%
V Visa Inc. Class A 0.96% 12,623 $3.3M Add +0.3%
GOOG Alphabet Inc. Class C 0.95% 18,022 $3.3M Reduce -0.6%
QCOM Qualcomm Inc. 0.90% 15,703 $3.1M Add +0.9%
EEM iShares MSCI Emerging Market 0.90% 72,789 $3.1M Add +106.1%
PG The Procter & Gamble Co. 0.89% 18,614 $3.1M No change
CVX Chevron Corp. 0.84% 18,692 $2.9M Add +0.0%
ABT Abbott Laboratories 0.76% 25,430 $2.6M Reduce -0.8%
IJR iShares Core S&P Small-Cap E 0.73% 23,850 $2.5M Reduce -2.0%
PH Parker Hannifin Corp. 0.72% 4,915 $2.5M Reduce -0.3%
TMO Thermo Fisher Scientific Inc. 0.68% 4,268 $2.4M No change
PEP Pepsico Inc. 0.58% 12,179 $2.0M Reduce -17.1%
ORLY O'reilly Automotive Inc. 0.58% 1,895 $2.0M Reduce -3.2%
SCHD Schwab US DVD Equity ETF 0.57% 25,416 $2.0M No change
EFA iShares MSCI Eafe ETF 0.57% 25,182 $2.0M Reduce -0.6%
BKNG Booking Holdings Inc. 0.56% 491 $1.9M Reduce -13.1%
CRM Salesforce Inc. 0.52% 6,990 $1.8M Reduce -5.6%
TT Trane Technologies PLC 0.52% 5,428 $1.8M No change
BMY Bristol-Myers Squibb Co. 0.51% 42,570 $1.8M Reduce -0.4%
SHOP Shopify Inc. Class A 0.51% 26,609 $1.8M Reduce -5.6%
HD Home Depot Inc. 0.50% 5,042 $1.7M No change
EMR Emerson Electric Co. 0.48% 15,120 $1.7M Add +0.5%
PSX Phillips 66 0.45% 11,109 $1.6M No change
KO The Coca-Cola Co. 0.45% 24,563 $1.6M No change
GS Goldman Sachs Group Inc. 0.45% 3,424 $1.5M No change
CI The Cigna Group 0.43% 4,453 $1.5M No change
INTC Intel Corp. 0.42% 47,210 $1.5M Reduce -0.4%
MRSH Marsh & McLennan Cos 0.41% 6,698 $1.4M Add +0.3%
TGT Target Corp. 0.38% 8,886 $1.3M Reduce -0.3%
ZBRA Zebra Technologies Corp. Class A 0.37% 4,187 $1.3M Add +2.8%
REGN Regeneron Pharmaceuticals 0.36% 1,195 $1.3M No change
NEE Nextera Energy Inc. 0.35% 17,098 $1.2M No change
EXPE Expedia Group Inc. 0.33% 8,979 $1.1M Add +280.1%
SCHW Schwab (charles) Corp. 0.30% 13,928 $1.0M Add +54.5%
C Citigroup Inc. 0.28% 15,361 $975K Add +71.7%
AMD Advanced Micro Devices 0.27% 5,843 $948K Add +52.2%
DHR Danaher Corp. 0.27% 3,764 $940K No change
JAAA Janus Henderson Aaa Clo ETF 0.25% 17,000 $865K No change
BA The Boeing Co. 0.25% 4,674 $851K Reduce -2.7%
VUG Vanguard Mrngstar GR ETF-Sui 0.23% 2,089 $781K No change
IJH iShares Core S&P Midcap ETF 0.23% 13,335 $780K No change
SPTI SS SPDR P Int Term TSY ETF 0.22% 27,703 $776K Reduce -8.3%
TXN Texas Instruments Inc. 0.22% 3,918 $762K No change
META Meta Platforms Inc. Class A 0.21% 1,469 $741K Reduce -18.1%
TRV The Travelers Cos Inc. 0.21% 3,538 $719K No change
UPS United Parcel Service Class B 0.21% 5,226 $715K No change
PFF iShares Preferred & Income S 0.21% 22,656 $715K Add +144.5%
RTX RTX Corp. 0.20% 6,980 $701K No change
APD Air Products & Chemicals Inc. 0.20% 2,709 $699K No change
CMI Cummins Inc. 0.20% 2,513 $696K Reduce -0.3%
CSX CSX Corp. 0.19% 19,681 $658K Reduce -20.3%
ROP Roper Technologies Inc. 0.18% 1,107 $624K Add +1.8%
SHEL Shell PLC-ADR 0.18% 8,613 $622K No change
CARR Carrier Global Corp. 0.17% 9,603 $606K No change
PFE Pfizer Inc. 0.17% 21,596 $604K Reduce -25.8%
CSCO Cisco Systems Inc. 0.17% 12,231 $581K No change
GE General Electric filed as GE AEROSPACE 0.16% 3,424 $544K Reduce -2.6%
EOG EOG Resources Inc. 0.15% 4,108 $517K Add +2.1%
DNP DNP Select Income Fund Inc. 0.15% 62,031 $510K Add +0.4%
MA Mastercard Inc. Class A 0.14% 1,134 $500K Add +0.4%
SYF Synchrony Financial 0.14% 10,568 $499K No change
HPQ HP Inc. 0.14% 13,974 $489K No change
USB US Bancorp 0.14% 11,973 $475K Add +1.9%
LOW Lowe's Cos Inc. 0.14% 2,130 $470K No change
COP Conocophillips 0.13% 4,026 $460K Reduce -2.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.13% 2,552 $441K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.13% 11,075 $440K No change
SHY iShares 1-3 Year Treasury Bo 0.12% 5,000 $408K No change
IEF iShares 7-10 Year Treasury B 0.12% 4,330 $406K Reduce -8.5%
CMG Chipotle Mexican Grill Inc. 0.11% 6,250 $392K Reduce -8.8%
MDLZ Mondelez International Inc. Class A 0.11% 5,868 $384K Reduce -1.7%
KVUE Kenvue Inc. 0.11% 20,204 $367K Reduce -28.9%
MCK McKesson Corp. 0.11% 627 $366K No change
VMBS Vanguard Mortgage-Backed Sec 0.10% 7,880 $358K Add +5.1%
BLK BlackRock Finance Inc. 0.10% 452 $356K No change

Show all 413 holdings

Other holdings (28): bonds, preferreds, convertibles and warrants · $3.8M (not counted above)
SecurityClassShares / PrincipalValueChange
US BANCORP (USB 4 PERP M) PFD 84,165$1.5MNo change
CHARLES SCHWAB CORP (SCHW 4.45 PERP J) PFD 40,750$818KNo change
HUNTINGTON BANCSHARES (HBAN 4.5 PERP H) PFD 25,300$452KNo change
NATIONAL RURAL UTIL COOP (NRUC 5.5 05/15/64 US) PFD 9,612$235KNo change
BRUNSWICK CORP (BC 6.5 10/15/48) PFD 9,338$232KNo change
NEXTERA ENERGY CAPITAL (NEE 5.65 03/01/79 N) PFD 8,948$220KNo change
SOUTHERN CO (SO 4.2 10/15/60 C) PFD 10,100$204KNo change
REINSURANCE GRP OF AMER (RGA V5.75 06/15/56) PFD 2,366$60KNo change
BRUNSWICK CORP (BC 6.625 01/15/49) PFD 871$22KNo change
AMERICAN FINANCIAL GROUP (AFG 5.875 03/30/59) Common Stock 876$21KNo change
KIMCO REALTY CORP (KIM 5.25 PERP M) PFD 655$14KNo 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$4KNo change
ENBRIDGE INC (ENBCN V5.85792 PERP L) PFD 177$4KNew
AT&T INC (T 4.75 PERP C) PFD 165$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
JPMORGAN CHASE & CO (JPM 6 PERP EE) Common Stock 125$3KNo change
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
FIFTH THIRD BANCORP (FITB 4.95 PERP K) Common Stock 150$3KNo change
BANK OF AMERICA CORP (BAC 5 PERP LL) PFD 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
TRUIST FINANCIAL CORP (TFC 4.75 PERP R) COM 125$2KNo change
WELLS FARGO & COMPANY (WFC 5.625 PERP Y) PREFERRED STOCK 100$2KNo change
OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 3$123No change

Total filed on the 13F, all lines: $350.1M.

Portfolio Sells Q1 2024 → Q2 2024
SPY SS SPDR S&P 500 ETF Trust-US Reduce -14.4% 6.10% −2.53
ABBV Abbvie Inc. Reduce -22.5% 1.18% −0.86
LLY Eli Lilly & Co. Reduce -10.7% 3.38% −0.72
JPM JPMorgan Chase & Co. Reduce -2.8% 2.51% −0.71
MDY State Street SPDR S&P Midcap Reduce -1.8% 2.11% −0.71
ETN Eaton Corp. PLC Reduce -3.3% 2.13% −0.64
AXP American Express Co. Reduce -0.3% 1.90% −0.46
MBB iShares MBS ETF Reduce -1.2% 1.37% −0.39
PEP Pepsico Inc. Reduce -17.1% 0.58% −0.36
INTC Intel Corp. Reduce -0.4% 0.42% −0.34
BMY Bristol-Myers Squibb Co. Reduce -0.4% 0.51% −0.33
ABT Abbott Laboratories Reduce -0.8% 0.76% −0.30
CRM Salesforce Inc. Reduce -5.6% 0.52% −0.29
SHOP Shopify Inc. Class A Reduce -5.6% 0.51% −0.28
PH Parker Hannifin Corp. Reduce -0.3% 0.72% −0.28
IJR iShares Core S&P Small-Cap E Reduce -2.0% 0.73% −0.24
CRWD CrowdStrike Holdings Inc. Class A Reduce -13.6% 1.04% −0.23
ORLY O'reilly Automotive Inc. Reduce -3.2% 0.58% −0.23
AVGO Broadcom Inc. Reduce -1.8% 3.52% −0.21
IOO iShares Global 100 ETF Reduce -1.3% 1.10% −0.20
TGT Target Corp. Reduce -0.3% 0.38% −0.19
BKNG Booking Holdings Inc. Reduce -13.1% 0.56% −0.18
GOOGL Alphabet Inc. Class A Reduce -0.9% 3.33% −0.18
EFA iShares MSCI Eafe ETF Reduce -0.6% 0.57% −0.17
CSX CSX Corp. Reduce -20.3% 0.19% −0.14
PFE Pfizer Inc. Reduce -25.8% 0.17% −0.12
KVUE Kenvue Inc. Reduce -28.9% 0.11% −0.12
META Meta Platforms Inc. Class A Reduce -18.1% 0.21% −0.10
AAPL Apple Inc. Reduce -1.2% 2.63% −0.10
BA The Boeing Co. Reduce -2.7% 0.25% −0.09
SPTI SS SPDR P Int Term TSY ETF Reduce -8.3% 0.22% −0.09
CMI Cummins Inc. Reduce -0.3% 0.20% −0.07
GE General Electric Reduce -2.6% 0.16% −0.07
COP Conocophillips Reduce -2.4% 0.13% −0.06
GOOG Alphabet Inc. Class C Reduce -0.6% 0.95% −0.05
IEF iShares 7-10 Year Treasury B Reduce -8.5% 0.12% −0.05
MDT Medtronic PLC Reduce -3.3% 0.10% −0.04
OGN Organon & Co. Reduce -98.0% 0.00% −0.04
PYPL PayPal Holdings Inc. Reduce -2.4% 0.09% −0.04
MDLZ Mondelez International Inc. Class A Reduce -1.7% 0.11% −0.04
SPTL SS SPDR PF LNG TRM TSY E-Usd Reduce -13.6% 0.07% −0.04
SJNK SS SPDR BB St Hi Yield ETF Reduce -7.4% 0.09% −0.03
CMG Chipotle Mexican Grill Inc. Reduce -8.8% 0.11% −0.03
OTIS Otis Worldwide Corp. Reduce -0.3% 0.09% −0.03
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Reduce -20.2% 0.04% −0.03
USHY iShares Broad Usd High Yield Reduce -8.4% 0.05% −0.02
VGSH Vanguard Short-Term Treasury Reduce -26.7% 0.03% −0.02
PINS Pinterest Inc. Class A Reduce -37.3% 0.03% −0.02
MCD McDonald's Corp. Reduce -3.4% 0.03% −0.01
KEYS Keysight Technologies Inc. Reduce -60.2% 0.01% −0.01

Portfolio Buys Q1 2024 → Q2 2024
IGSB iShares 1-5Y Inv Grade Corp. Add +8440.2% 8.81% +8.68
IGIB iShares 5-10Y Inv Grade Corp. Add +3499.3% 7.30% +7.04
VCLT Vanguard Long-Term Corp. Bond Add +4060.3% 3.97% +3.85
EEM iShares MSCI Emerging Market Add +106.1% 0.90% +0.37
EXPE Expedia Group Inc. Add +280.1% 0.33% +0.21
PFF iShares Preferred & Income S Add +144.5% 0.21% +0.10
C Citigroup Inc. Add +71.7% 0.28% +0.08
SCHW Schwab (charles) Corp. Add +54.5% 0.30% +0.06
VPU Vanguard Utilities ETF New 0.03% +0.03
AMD Advanced Micro Devices Add +52.2% 0.27% +0.02
SGOV iShares 0-3 Month Treasury B New 0.02% +0.02
TIP iShares Tips Bond ETF New 0.01% +0.01
GAB Gabelli Equity Trust New 0.01% +0.01
AMJB Alerian MLP ETN2044 New 0.01% +0.01
BAB Invesco Taxable Municipal Bo New 0.01% +0.01
MPLX MPLX LP Add +35.8% 0.03% +0.00
SUN Sunoco LP New 0.00% +0.00
PTY PIMCO Corporate & Income Opp New 0.00% +0.00
TLT iShares 20+ Year Treasury BD New 0.00% +0.00
USAC USA Compression Partners LP New 0.00% +0.00
ARDC Ares Dynamic Credit All New 0.00% +0.00
XAWFX Alliancebernstein GL Hi Inc. New 0.00% +0.00
BST BlackRock Science & Tech TR New 0.00% +0.00
EPD Enterprise Products Partners Add +33.8% 0.02% +0.00
OTLY Oatly Group AB New 0.00% +0.00
UTG Reaves Utility Income Fund New 0.00% +0.00
GRX Gabelli Healthcare & Well New 0.00% +0.00
NGL NGL Energy Partners LP New 0.00% +0.00
ET Energy Transfer LP Add +22.7% 0.01% 0.00
VRP Invesco Variable Rate Prefer Add +17.1% 0.01% −0.00
DBSDY DBS Group Holdings-Spon ADR Add +9.1% 0.01% −0.00
SCCO Southern Copper Corp. Add +1.0% 0.01% −0.00
BKLN Invesco Senior Loan ETF Add +8.4% 0.07% −0.01
VMBS Vanguard Mortgage-Backed Sec Add +5.1% 0.10% −0.02
EOG EOG Resources Inc. Add +2.1% 0.15% −0.04
ROP Roper Technologies Inc. Add +1.8% 0.18% −0.04
PAYC Paycom Software Inc. Add +2.1% 0.06% −0.04
MA Mastercard Inc. Class A Add +0.4% 0.14% −0.05
USB US Bancorp Add +1.9% 0.14% −0.05
QCOM Qualcomm Inc. Add +0.9% 0.90% −0.05
DNP DNP Select Income Fund Inc. Add +0.4% 0.15% −0.06
ZBRA Zebra Technologies Corp. Class A Add +2.8% 0.37% −0.07
MRSH Marsh & McLennan Cos Add +0.3% 0.41% −0.09
EMR Emerson Electric Co. Add +0.5% 0.48% −0.14
AMZN Amazon.com Inc. Add +6.7% 1.51% −0.15
CVX Chevron Corp. Add +0.0% 0.84% −0.23
V Visa Inc. Class A Add +0.3% 0.96% −0.32
JNJ Johnson & Johnson Add +2.8% 1.00% −0.33
MRK Merck & Co. Inc. Add +0.1% 0.96% −0.33
HON Honeywell International Inc. Add +0.2% 1.67% −0.35

Notes & Other Activity Q1 2024 → Q2 2024
ENBRIDGE INC (ENBCN V5.85792 PERP L) PFD New 177 $4K
READY CAPITAL CORP (RC 6.25 PERP C) 6.25 CNV PFD C Sold out 170 $3Kbefore exit
BROOKFIELD PROP PFD LP (BPY 6.25 07/26/81) Common Stock Sold out 26 $390before exit

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