Boyd Watterson Asset Management LLC

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 22, 2024), Boyd Watterson Asset Management LLC reported 409 stock positions worth $361.0 million. Its top holding was iShares 1-5Y Inv Grade (IGSB) at 8.7% of the portfolio, followed by iShares 5-10Y Inv Grade (IGIB, 7.3%) and SS SPDR S&P 500 ETF Trust-US (SPY, 6.2%). Compared with Q2 2024, it opened 6 new positions, sold out of 11, added to 42 and reduced 158. The biggest buy was Paycom Software (PAYC, shares +648%) and the biggest sale Broadcom (AVGO, shares −18%).

Most Recent 13F
Q2 2026
Location
CLEVELAND, OH
CIK
0001121477
Portfolio Value
$361.0M (Q3 2024)
SEC Filing
0001121477-24-000035 ↗ filed Oct 22, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $274.9M Q1 2024 Q2 2024: $346.3M Q2 2024 Q3 2024: $361.0M $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 409 stocks · $361.0M
IGSB iShares 1-5Y Inv Grade Corp. 8.70% 596,664 $31.4M Add +0.2%
IGIB iShares 5-10Y Inv Grade Corp. 7.34% 493,062 $26.5M Add +0.0%
SPY SS SPDR S&P 500 ETF Trust-US 6.19% 38,927 $22.3M Add +0.2%
MSFT Microsoft Corp. 6.18% 51,863 $22.3M Reduce -0.2%
VCLT Vanguard Long-Term Corp. Bond 4.08% 181,529 $14.7M Add +0.1%
AVGO Broadcom Inc. 2.97% 62,085 $10.7M Reduce -18.3%
LLY Eli Lilly & Co. 2.88% 11,746 $10.4M Reduce -9.3%
GOOGL Alphabet Inc. Class A 2.83% 61,656 $10.2M Reduce -2.6%
AAPL Apple Inc. 2.78% 43,067 $10.0M Reduce -0.5%
JPM JPMorgan Chase & Co. 2.28% 39,023 $8.2M Reduce -9.2%
MDY State Street SPDR S&P Midcap 2.16% 13,680 $7.8M No change
ETN Eaton Corp. PLC 2.15% 23,466 $7.8M Reduce -0.3%
AXP American Express Co. 2.13% 28,350 $7.7M Reduce -0.3%
XOM Exxon Mobil Corp. 1.62% 49,786 $5.8M Add +10.6%
HON Honeywell International Inc. 1.55% 27,107 $5.6M Reduce -0.0%
MBB iShares MBS ETF 1.48% 55,679 $5.3M Add +7.8%
AMZN Amazon.com Inc. 1.43% 27,710 $5.2M Add +2.2%
ABBV Abbvie Inc. 1.38% 25,298 $5.0M Add +6.0%
VOO Vanguard S&P 500 ETF 1.18% 8,097 $4.3M No change
CAT Caterpillar Inc. 1.16% 10,732 $4.2M Reduce -0.1%
JNJ Johnson & Johnson 1.12% 25,047 $4.1M Add +5.3%
IOO iShares Global 100 ETF 1.08% 39,360 $3.9M Reduce -0.3%
V Visa Inc. Class A 1.04% 13,658 $3.8M Add +8.2%
NVDA Nvidia Corp. 1.01% 30,080 $3.7M Add +0.3%
PH Parker Hannifin Corp. 0.98% 5,621 $3.6M Add +14.4%
EEM iShares MSCI Emerging Market 0.92% 72,704 $3.3M Reduce -0.1%
MRK Merck & Co. Inc. 0.92% 29,360 $3.3M Add +9.0%
PG The Procter & Gamble Co. 0.89% 18,639 $3.2M Add +0.1%
LIN Linde PLC 0.86% 6,526 $3.1M Reduce -15.4%
QCOM Qualcomm Inc. 0.84% 17,802 $3.0M Add +13.4%
CRWD CrowdStrike Holdings Inc. Class A 0.80% 10,272 $2.9M Add +8.9%
GOOG Alphabet Inc. Class C 0.78% 16,880 $2.8M Reduce -6.3%
CVX Chevron Corp. 0.77% 18,973 $2.8M Add +1.5%
IJR iShares Core S&P Small-Cap E 0.77% 23,850 $2.8M No change
TMO Thermo Fisher Scientific Inc. 0.73% 4,262 $2.6M Reduce -0.1%
PEP Pepsico Inc. 0.69% 14,604 $2.5M Add +19.9%
ABT Abbott Laboratories 0.65% 20,461 $2.3M Reduce -19.5%
SCHD Schwab US DVD Equity ETF 0.63% 26,914 $2.3M Add +5.9%
BMY Bristol-Myers Squibb Co. 0.61% 42,420 $2.2M Reduce -0.3%
SHOP Shopify Inc. Class A 0.59% 26,764 $2.1M Add +0.6%
EFA iShares MSCI Eafe ETF 0.58% 25,097 $2.1M Reduce -0.3%
BKNG Booking Holdings Inc. 0.57% 485 $2.0M Reduce -1.2%
HD Home Depot Inc. 0.57% 5,039 $2.0M Reduce -0.1%
ORLY O'reilly Automotive Inc. 0.56% 1,757 $2.0M Reduce -7.3%
GS Goldman Sachs Group Inc. 0.54% 3,969 $2.0M Add +15.9%
CRM Salesforce Inc. 0.53% 6,985 $1.9M Reduce -0.1%
PAYC Paycom Software Inc. 0.50% 10,815 $1.8M Add +647.9%
KO The Coca-Cola Co. 0.49% 24,522 $1.8M Reduce -0.2%
C Citigroup Inc. 0.48% 27,571 $1.7M Add +79.5%
EMR Emerson Electric Co. 0.46% 15,111 $1.7M Reduce -0.1%
PYPL PayPal Holdings Inc. 0.45% 21,035 $1.6M Add +292.1%
CMG Chipotle Mexican Grill Inc. 0.44% 27,683 $1.6M Add +342.9%
CI The Cigna Group 0.43% 4,453 $1.5M No change
ZBRA Zebra Technologies Corp. Class A 0.42% 4,136 $1.5M Reduce -1.2%
TT Trane Technologies PLC 0.42% 3,938 $1.5M Reduce -27.4%
MRSH Marsh & McLennan Cos 0.42% 6,730 $1.5M Add +0.5%
PSX Phillips 66 0.40% 11,109 $1.5M No change
NEE Nextera Energy Inc. 0.40% 17,098 $1.4M No change
EXPE Expedia Group Inc. 0.38% 9,183 $1.4M Add +2.3%
TGT Target Corp. 0.36% 8,429 $1.3M Reduce -5.1%
REGN Regeneron Pharmaceuticals 0.35% 1,191 $1.3M Reduce -0.3%
SCHW Schwab (charles) Corp. 0.33% 18,462 $1.2M Add +32.5%
JAAA Janus Henderson Aaa Clo ETF 0.24% 17,000 $865K No change
TRV The Travelers Cos Inc. 0.23% 3,538 $828K No change
SPTI SS SPDR P Int Term TSY ETF 0.23% 28,501 $828K Add +2.9%
IJH iShares Core S&P Midcap ETF 0.23% 13,172 $821K Reduce -1.2%
META Meta Platforms Inc. Class A 0.23% 1,419 $812K Reduce -3.4%
RTX RTX Corp. 0.22% 6,702 $812K Reduce -4.0%
TXN Texas Instruments Inc. 0.22% 3,918 $809K No change
CMI Cummins Inc. 0.22% 2,493 $807K Reduce -0.8%
APD Air Products & Chemicals Inc. 0.22% 2,703 $805K Reduce -0.2%
VUG Vanguard Mrngstar GR ETF-Sui 0.22% 2,089 $802K No change
PFF iShares Preferred & Income S 0.21% 22,696 $754K Add +0.2%
CARR Carrier Global Corp. 0.20% 9,126 $735K Reduce -5.0%
UPS United Parcel Service Class B 0.20% 5,210 $710K Reduce -0.3%
INTC Intel Corp. 0.19% 29,816 $699K Reduce -36.8%
DHR Danaher Corp. 0.19% 2,504 $696K Reduce -33.5%
CSX CSX Corp. 0.19% 19,597 $677K Reduce -0.4%
GE General Electric filed as GE AEROSPACE 0.18% 3,462 $653K Add +1.1%
BA The Boeing Co. 0.18% 4,266 $649K Reduce -8.7%
DNP DNP Select Income Fund Inc. 0.17% 62,285 $625K Add +0.4%
PFE Pfizer Inc. 0.17% 21,545 $624K Reduce -0.2%
ROP Roper Technologies Inc. 0.17% 1,084 $603K Reduce -2.1%
CSCO Cisco Systems Inc. 0.16% 10,767 $573K Reduce -12.0%
LOW Lowe's Cos Inc. 0.16% 2,100 $569K Reduce -1.4%
SHEL Shell PLC-ADR 0.16% 8,605 $568K Reduce -0.1%
MA Mastercard Inc. Class A 0.16% 1,134 $560K No change
EOG EOG Resources Inc. 0.15% 4,538 $558K Add +10.5%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.15% 2,512 $555K Reduce -1.6%
USB US Bancorp 0.15% 11,973 $548K No change
SYF Synchrony Financial 0.15% 10,568 $527K No change
AMD Advanced Micro Devices 0.14% 3,071 $504K Reduce -47.4%
HPQ HP Inc. 0.14% 13,829 $496K Reduce -1.0%
KVUE Kenvue Inc. 0.14% 21,121 $489K Add +4.5%
BLK BlackRock Finance Inc. 0.12% 449 $427K Reduce -0.7%
COP Conocophillips 0.12% 4,010 $422K Reduce -0.4%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.12% 10,523 $418K Reduce -5.0%
SHY iShares 1-3 Year Treasury Bo 0.12% 5,000 $416K No change
WMT Walmart Inc. 0.11% 5,121 $414K No change
IEF iShares 7-10 Year Treasury B 0.11% 4,029 $395K Reduce -7.0%
DELL Dell Technologies -C 0.11% 3,308 $392K New
VZ Verizon Communications Inc. 0.10% 8,041 $361K Reduce -0.9%
OTIS Otis Worldwide Corp. 0.09% 3,228 $336K Reduce -5.5%
VMBS Vanguard Mortgage-Backed Sec 0.09% 7,030 $332K Reduce -10.8%
ITW Illinois Tool Works 0.09% 1,260 $330K No change
MDT Medtronic PLC 0.09% 3,648 $328K Reduce -18.0%
MDLZ Mondelez International Inc. Class A 0.09% 4,385 $323K Reduce -25.3%
AMGN Amgen Inc. 0.09% 983 $317K Reduce -0.7%
SJNK SS SPDR BB St Hi Yield ETF 0.09% 12,156 $313K Reduce -6.1%
MCK McKesson Corp. 0.09% 622 $308K Reduce -0.8%
AVB Avalonbay Communities Inc. 0.07% 1,195 $269K Add +0.7%
FAST Fastenal Co. 0.07% 3,696 $264K Reduce -9.9%
SPTL SS SPDR PF LNG TRM TSY E-Usd 0.07% 8,443 $245K Reduce -9.1%
WFC Wells Fargo & Co. 0.07% 4,291 $242K Add +23.2%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.06% 533 $226K No change
BKLN Invesco Senior Loan ETF 0.06% 10,573 $222K Reduce -7.8%
KLAC KLA Corp. 0.06% 286 $221K Reduce -7.4%
MS Morgan Stanley 0.06% 2,090 $218K Reduce -0.8%
AMP Ameriprise Financial Inc. 0.06% 454 $213K Reduce -0.7%
GEV GE Vernova Inc. 0.06% 787 $201K Reduce -7.0%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.06% 2,486 $200K Add +30.5%
EXC Exelon Corp. 0.05% 4,848 $197K Reduce -0.8%
UNH Unitedhealth Group Inc. 0.05% 318 $186K Reduce -3.9%
USHY iShares Broad Usd High Yield 0.05% 4,781 $180K Reduce -7.2%
NFLX Netflix Inc. 0.05% 240 $170K No change
MMM 3M Co. 0.04% 1,167 $160K No change
OKE Oneok Inc. 0.04% 1,659 $151K No change
JIREF JPM Usd Ultshrt Inc. Act ETF 0.04% 1,291 $150K New
KMI Kinder Morgan Inc. 0.04% 6,566 $145K Reduce -0.7%
CL Colgate-Palmolive Co. 0.04% 1,350 $140K No change
IR Ingersoll-Rand Inc. 0.04% 1,314 $129K No change
PPG PPG Industries Inc. 0.04% 965 $128K No change
MCD McDonald's Corp. 0.03% 412 $125K Reduce -3.7%
TFC Truist Financial Corp. 0.03% 2,887 $123K Reduce -4.2%
ORCL Oracle Corp. 0.03% 719 $123K No change
PAYX Paychex Inc. 0.03% 909 $122K Reduce -3.4%
SPGI S&P Global Inc. 0.03% 233 $120K Reduce -15.0%
SYY Sysco Corp. 0.03% 1,525 $119K No change
HCA HCA Healthcare Inc. 0.03% 292 $119K No change
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.03% 1,000 $113K Add +3.6%
VPU Vanguard Utilities ETF 0.03% 635 $111K No change
MPLX MPLX LP 0.03% 2,465 $110K No change
WM Waste Management Inc. 0.03% 493 $102K Reduce -5.2%
TAP Molson Coors Beverage Co. Class B 0.03% 1,750 $101K No change
SO The Southern Co. 0.03% 1,036 $93K Reduce -3.2%
T AT&T Inc. 0.03% 4,173 $92K No change
VGSH Vanguard Short-Term Treasury 0.02% 1,517 $90K Reduce -6.9%
VTRS Viatris Inc. 0.02% 7,610 $88K No change
PSA Public Storage 0.02% 240 $87K No change
IUSV iShares Core S&P U.S. Value 0.02% 900 $86K No change
YUM Yum! Brands Inc. 0.02% 610 $85K No change
PGR Progressive Corp. 0.02% 334 $85K No change
KMB Kimberly-Clark Corp. 0.02% 594 $85K Reduce -2.6%
NUE Nucor Corp. 0.02% 552 $83K Reduce -6.0%
DUK Duke Energy Corp. 0.02% 675 $78K Reduce -3.2%
MO Altria Group Inc. 0.02% 1,465 $75K Reduce -1.8%
ZBH Zimmer Biomet Holdings Inc. 0.02% 675 $73K Reduce -10.0%
MPC Marathon Petroleum Corp. 0.02% 406 $66K Reduce -6.9%
CB Chubb Ltd. 0.02% 226 $65K No change
VNQ Vanguard Real Estate ETF 0.02% 634 $62K No change
TSM Taiwan Semiconductor-SP ADR 0.02% 354 $61K Reduce -2.2%
SGOV iShares 0-3 Month Treasury B 0.02% 603 $61K Reduce -6.7%
DRI Darden Restaurants Inc. 0.02% 362 $59K Reduce -6.9%
UNP Union Pacific Corp. 0.02% 237 $58K Reduce -7.8%
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.02% 56 $58K No change
EPD Enterprise Products Partners 0.02% 1,980 $58K No change
WAT Waters Corp. 0.02% 160 $58K No change
BRK.B Berkshire Hathaway Inc. Class B 0.02% 125 $58K No change
LVMUY LVMH Moet Hennessy-Unsp ADR 0.02% 361 $55K Reduce -2.2%
LMT Lockheed Martin Corp. 0.01% 91 $53K Reduce -8.1%
TEL Te Connectivity PLC 0.01% 350 $53K Reduce -21.4%
MSI Motorola Solutions Inc. 0.01% 114 $51K No change
MITSY Mitsui & Co. Ltd.-Spons ADR 0.01% 115 $51K Add +94.9%
GIS General Mills Inc. 0.01% 652 $48K Reduce -4.3%
SCCO Southern Copper Corp. 0.01% 414 $48K Add +0.5%
AON Aon PLC Class A 0.01% 138 $48K No change
VLO Valero Energy Corp. 0.01% 352 $48K Reduce -7.8%
AEP American Electric Power 0.01% 460 $47K No change
CAH Cardinal Health Inc. 0.01% 425 $47K Reduce -17.9%
UL Unilever PLC 0.01% 718 $47K Reduce -31.8%
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.01% 600 $45K No change
BAESY Bae Systems PLC -Spon ADR 0.01% 670 $44K Reduce -2.2%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.01% 1,060 $44K No change
ABBNY Abb Ltd.-Spon ADR 0.01% 755 $44K Reduce -2.5%
FITB Fifth Third Bancorp 0.01% 1,019 $44K Reduce -7.5%
CEG Constellation Energy 0.01% 167 $43K No change
CINF Cincinnati Financial Corp. 0.01% 313 $43K Reduce -7.4%
VGT Vanguard Info Tech ETF 0.01% 72 $42K No change
PINS Pinterest Inc. Class A 0.01% 1,300 $42K Reduce -38.1%
FIS Fidelity National Info Serv 0.01% 500 $42K No change
ALIZY Allianz SE - Unsp ADR 0.01% 1,260 $41K Reduce -2.1%
MUB iShares National Muni Bond E 0.01% 375 $41K No change
PEG Public Service Enterprise GP 0.01% 448 $40K No change
COR Cencora Inc. 0.01% 177 $40K No change
PM Philip Morris International 0.01% 322 $39K No change
RHI Robert Half Inc. 0.01% 574 $39K Reduce -7.4%
VEU Vanguard Ftse All-World Ex-U 0.01% 607 $38K No change
NI Nisource Inc. 0.01% 1,076 $37K No change
DBSDY DBS Group Holdings-Spon ADR 0.01% 304 $36K Reduce -2.3%
ED Consolidated Edison Inc. 0.01% 339 $35K No change
SUB iShares Short-Term National 0.01% 329 $35K No change
AXAHY AXA -Spons ADR 0.01% 897 $35K Reduce -1.8%
GPC Genuine Parts Co. 0.01% 242 $34K Reduce -7.6%
VWO Vanguard Ftse Emerging Marke 0.01% 700 $33K No change
STIP iShares 0-5 Year Tips Bond E 0.01% 329 $33K No change
CNP Centerpoint Energy Inc. 0.01% 1,132 $33K No change
PFG Principal Financial Group 0.01% 383 $33K Reduce -7.7%
IHG Intercontinental Hotels-ADR 0.01% 297 $33K Reduce -2.3%
D Dominion Energy Inc. 0.01% 557 $32K No change
IPG Interpublic Group of Cos Inc. 0.01% 982 $31K Reduce -7.5%
PCY Invesco Emerging Markets Sov 0.01% 1,435 $31K Add +79.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.01% 320 $31K No change
TM Toyota Motor Corp. -Spon ADR 0.01% 170 $30K Reduce -2.3%
NTTYY NTT Inc. - ADR filed as NIPPON TEL & TEL CORP ADR 0.01% 1,140 $29K Reduce -2.2%
WELL Welltower Inc. 0.01% 228 $29K No change
ELV Elevance Health Inc. 0.01% 56 $29K No change
GAB Gabelli Equity Trust 0.01% 5,280 $29K No change
SIEGY Siemens AG-Spons ADR 0.01% 286 $29K Reduce -2.0%
IGOV iShares International Treasu 0.01% 685 $29K New
JCI Johnson Controls Internation 0.01% 365 $28K No change
MUFG Mitsubishi Ufj Finl-Spon ADR 0.01% 2,777 $28K Reduce -2.1%
CVS CVS Health Corp. 0.01% 435 $27K No change
NVS Novartis AG-Sponsored ADR 0.01% 237 $27K Reduce -2.1%
VCR Vanguard Consumer Discre ETF 0.01% 80 $27K No change
IX Orix - Sponsored ADR filed as ORIX CORP 0.01% 234 $27K Reduce -2.5%
AMJB Alerian MLP ETN2044 filed as JPMORGAN CHASE FINL CO LLC 0.01% 943 $27K No change
LNC Lincoln National Corp. 0.01% 850 $27K No change
FISV Fiserv Inc. 0.01% 149 $27K No change
IBDRY Iberdrola SA-Sponsored ADR 0.01% 430 $27K Reduce -2.3%
F Ford Motor Co. filed as FORD MTR CO 0.01% 2,505 $26K Reduce -5.7%
SPG Simon Property Group Inc. 0.01% 153 $26K No change
NSC Norfolk Southern Corp. 0.01% 104 $26K No change
BDX Becton Dickinson and Co. 0.01% 106 $26K Reduce -58.6%
COF Capital One Financial Corp. 0.01% 169 $25K No change
OMC Omnicom Group 0.01% 242 $25K No change
PAA Plains All Amer Pipeline LP 0.01% 1,423 $25K No change
DFS Discover Financial Services 0.01% 173 $24K No change
IP International Paper Co. 0.01% 487 $24K Reduce -7.4%
NSRGY Nestle SA-Spons ADR 0.01% 233 $23K Reduce -2.5%
HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC 0.01% 512 $23K Reduce -2.1%
RIO Rio Tinto PLC-Spon ADR 0.01% 324 $23K Reduce -2.4%
ENB Enbridge Inc. 0.01% 564 $23K No change
XLF SS Financial Select Sector 0.01% 500 $23K No change
BHP BHP Group Ltd.-Spon ADR 0.01% 360 $22K Reduce -2.2%
SNY Sanofi-ADR 0.01% 387 $22K Reduce -2.8%
ET Energy Transfer LP 0.01% 1,385 $22K No change
BTI British American Tob-SP ADR 0.01% 600 $22K No change
WEC WEC Energy Group Inc. 0.01% 228 $22K No change
FLOT iShares Floating Rate Bond E 0.01% 425 $22K No change
MDXG Mimedx Group Inc. 0.01% 3,670 $22K No change
TTE Totalenergies SE -Spon ADR 0.01% 329 $21K Reduce -1.8%
KMTUY Komatsu Ltd. -Spons ADR 0.01% 761 $21K Reduce -2.2%
KEYS Keysight Technologies Inc. 0.01% 132 $21K No change
VHT Vanguard Health Care ETF 0.01% 74 $21K No change
IHY Vaneck Int High Yield Bond 0.01% 965 $21K New
INFY Infosys Ltd.-SP ADR 0.01% 928 $21K Reduce -2.1%
TD Toronto-Dominion Bank 0.01% 324 $20K Reduce -2.4%
LHX L3HARRIS Technologies Inc. 0.01% 86 $20K No change
SOLV Solventum Corp. 0.01% 290 $20K No change
DEO Diageo PLC-Sponsored ADR 0.01% 141 $20K Reduce -2.1%
LEG Leggett & Platt Inc. 0.01% 1,426 $19K Reduce -2.6%
BBWI Bath & Body Works Inc. 0.01% 602 $19K Reduce -7.4%
AA Alcoa Corp. 0.01% 496 $19K Reduce -7.8%
FDX FedEx Corp. 0.01% 66 $18K No change
DD Dupont DE Nemours Inc. 0.01% 202 $18K Reduce -5.2%
EIX Edison International 0.00% 195 $17K No change
WU Western Union Co. 0.00% 1,357 $16K No change
LAZ Lazard Inc. 0.00% 317 $16K No change
FE Firstenergy Corp. 0.00% 357 $16K No change
IDXX Idexx Laboratories Inc. 0.00% 30 $15K No change
VIS Vanguard Industrials ETF 0.00% 56 $15K No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.00% 200 $14K No change
CAG Conagra Brands Inc. 0.00% 431 $14K No change
IMCB iShares Morningstar Mid-Cap 0.00% 184 $14K No change
PETQ Petiq Inc. 0.00% 450 $14K No change
LYB Lyondellbasell Indu Class A 0.00% 144 $14K Reduce -2.7%
BNPQY BNP Paribas-ADR 0.00% 391 $13K Reduce -2.0%
ERIC Ericsson (lm) Tel-SP ADR filed as TELEFONAKTIEBOLAGET LM ERICS 0.00% 1,767 $13K Reduce -2.2%
PAGP Plains GP Holdings LP 0.00% 700 $13K No change
BASFY Basf SE-Spon ADR 0.00% 970 $13K Reduce -2.6%
VDC Vanguard Consumer Staple ETF 0.00% 58 $13K No change
GEHC GE Healthcare Technology 0.00% 134 $13K Reduce -10.7%
CAJPY Canon Inc.-Spons ADR 0.00% 382 $13K Reduce -2.8%
TSLA Tesla Inc. 0.00% 48 $13K No change
DE Deere & Co. 0.00% 30 $13K No change
SMG Scotts Miracle-Gro Co. 0.00% 140 $12K No change
CTVA Corteva Inc. 0.00% 202 $12K Reduce -5.2%
ZTS Zoetis Inc. 0.00% 60 $12K Reduce -40.0%
DOW Dow Inc. 0.00% 212 $12K Reduce -4.9%
HPE Hewlett Packard Enterprise 0.00% 560 $11K No change
MAT Mattel Inc. 0.00% 584 $11K No change
FBIN Fortune Brands Innovations I 0.00% 123 $11K No change
IEX Idex Corp. 0.00% 50 $11K No change
CCL Carnival Corp. 0.00% 555 $10K Add +258.1%
MU Micron Technology Inc. 0.00% 97 $10K No change
GSK GSK PLC-Spon ADR 0.00% 245 $10K Reduce -2.4%
VFH Vanguard Financials ETF 0.00% 88 $10K No change
WPP WPP PLC-Sponsored ADR 0.00% 185 $9K Reduce -2.1%
LW Lamb Weston Holdings Inc. 0.00% 143 $9K No change
GBTC Grayscale Bitcoin Trust ETF 0.00% 182 $9K No change
VAW Vanguard Materials ETF 0.00% 43 $9K No change
CSQ Calamos Strat TTL RTRN FND 0.00% 500 $9K No change
NTRS Northern Trust Corp. 0.00% 95 $9K No change
VLTO Veralto Corp. 0.00% 75 $8K No change
MET Metlife Inc. 0.00% 100 $8K No change
IDU iShares US Utilities ETF 0.00% 80 $8K No change
HMC Honda Motor Co. Ltd.-Spons ADR 0.00% 250 $8K No change
SUN Sunoco LP 0.00% 146 $8K No change
E Eni SPA-Sponsored ADR 0.00% 258 $8K Reduce -2.6%
EMB iShares JP Morgan Usd Emergi 0.00% 80 $7K No change
PTY PIMCO Corporate & Income Opp 0.00% 500 $7K No change
FCX Freeport-McMoran Inc. 0.00% 144 $7K No change
ORI Old Republic Intl Corp. 0.00% 200 $7K No change
WEX Wex Inc. 0.00% 33 $7K Reduce -60.2%
ACN Accenture PLC Class A 0.00% 19 $7K No change
O Realty Income Corp. 0.00% 103 $7K No change
ADX Adams Diversified Equity 0.00% 300 $6K No change
FTV Fortive Corp. 0.00% 80 $6K No change
HOG Harley-Davidson Inc. 0.00% 154 $6K No change
ILMN Illumina Inc. 0.00% 45 $6K Reduce -77.5%
EPSN Epsilon Energy Ltd. 0.00% 1,000 $6K No change
GLW Corning Inc. 0.00% 125 $6K No change
REZI Resideo Technologies Inc. 0.00% 276 $6K No change
FLR Fluor Corp. 0.00% 116 $6K No change
AVY Avery Dennison Corp. 0.00% 25 $6K Reduce -19.4%
PNR Pentair PLC 0.00% 56 $5K No change
ROK Rockwell Automation Inc. 0.00% 20 $5K No change
DFIN Donnelley Financial Solution 0.00% 76 $5K No change
WBD Warner Bros Discovery Inc. 0.00% 597 $5K No change
VSXY Victoria's Secret & Co. 0.00% 188 $5K Reduce -7.8%
VOD Vodafone Group PLC-SP ADR 0.00% 475 $5K Reduce -3.5%
IVZ Invesco Ltd. 0.00% 267 $5K No change
USAC USA Compression Partners LP 0.00% 200 $5K No change
QYLD Global X Nasd 100 Cov Call 0.00% 250 $5K No change
CHTR Charter Communications Inc. Class A 0.00% 13 $4K No change
ARDC Ares Dynamic Credit All 0.00% 275 $4K No change
ADP Automatic Data Processing 0.00% 15 $4K No change
FUN Six Flags Entertainment Corp. 0.00% 100 $4K New
JNK SS SPDR BB High Yield Bond 0.00% 41 $4K No change
ALC Alcon Inc. filed as ALCON AG 0.00% 40 $4K Reduce -13.0%
XAWFX Alliancebernstein GL Hi Inc. 0.00% 350 $4K No change
VDE Vanguard Energy ETF 0.00% 32 $4K No change
IYZ iShares US Telecommunication 0.00% 152 $4K No change
GUT Gabelli Utility Trust 0.00% 720 $4K No change
ARCC Ares Capital Corp. 0.00% 170 $4K No change
USA Liberty All Star Equity Fund 0.00% 500 $4K No change
JNPR Juniper Networks Inc. 0.00% 90 $4K No change
BST BlackRock Science & Tech TR 0.00% 96 $3K No change
BXP BXP Inc. 0.00% 41 $3K No change
UTG Reaves Utility Income Fund 0.00% 100 $3K No change
CLF Cleveland-Cliffs Inc. 0.00% 254 $3K No change
AGG iShares Core U.S. Aggregate 0.00% 30 $3K No change
AMT American Tower Corp. 0.00% 13 $3K No change
AFL Aflac Inc. 0.00% 27 $3K No change
DVA Davita Inc. 0.00% 18 $3K No change
CDP Copt Defense Properties 0.00% 95 $3K No change
HLN Haleon PLC-ADR 0.00% 271 $3K Reduce -14.2%
CMS CMS Energy Corp. 0.00% 39 $3K No change
KD Kyndryl Holdings Inc. 0.00% 117 $3K Reduce -18.8%
CUK Carnival PLC-ADR 0.00% 161 $3K Reduce -18.7%
OTLY Oatly Group AB 0.00% 3,000 $3K No change
DOV Dover Corp. 0.00% 12 $2K No change
MBC Masterbrand Inc. 0.00% 123 $2K No change
AKAM Akamai Technologies Inc. 0.00% 22 $2K No change
NWL Newell Brands Inc. 0.00% 279 $2K No change
DGX Quest Diagnostics Inc. 0.00% 13 $2K No change
WAB Wabtec Corp. 0.00% 11 $2K No change
PRU Prudential Financial Inc. 0.00% 16 $2K No change
WDS Woodside Energy Group-ADR 0.00% 111 $2K Reduce -14.6%
OGN Organon & Co. 0.00% 98 $2K Reduce -27.4%
NTAP Netapp Inc. 0.00% 15 $2K No change
DOC Healthpeak Properties Inc. 0.00% 78 $2K No change
SDZNY Sandoz Group AG-ADR 0.00% 40 $2K Reduce -13.0%
GRX Gabelli Healthcare & Well 0.00% 152 $2K No change
CTSH Cognizant Tech Solutions-A 0.00% 21 $2K No change
PLUG Plug Power Inc. 0.00% 700 $2K No change
VNO Vornado Realty Trust 0.00% 40 $2K No change
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.00% 15 $2K No change
ACLLY Accelleron Industries AG 0.00% 30 $2K Reduce -16.7%
ASIX Advansix Inc. 0.00% 49 $1K No change
NVT Nvent Electric PLC 0.00% 21 $1K No change
SJM The JM Smucker Co. filed as SMUCKER J M CO 0.00% 12 $1K No change
NTR Nutrien Ltd. 0.00% 29 $1K No change
OXY Occidental Petroleum Corp. 0.00% 27 $1K No change
NGL NGL Energy Partners LP 0.00% 300 $1K No change
SWK Stanley Black & Decker Inc. 0.00% 12 $1K No change
FRO Frontline PLC 0.00% 55 $1K No change
SW Smurfit Westrock PLC 0.00% 23 $1K New
BTC Grayscale Bitcoin Mini Trust 0.00% 182 $1K No change
CHRW C.H. Robinson Worldwide Inc. 0.00% 9 $993 No change
SONY Sony Group Corp. - SP ADR 0.00% 10 $966 No change
GTX Garrett Motion Inc. 0.00% 116 $949 No change
VNT Vontier Corp. 0.00% 26 $877 No change
FLRN SS SPDR BB Ig Float RT ETF 0.00% 24 $740 Reduce -98.4%
CC The Chemours Co. 0.00% 29 $589 No change
SAIC Science Applications Inte 0.00% 4 $557 No change
UE Urban Edge Properties 0.00% 20 $428 No change
ADNT Adient PLC 0.00% 18 $406 No change
FCPT Four Corners Property Trust 0.00% 12 $352 No change
JBGS JBG Smith Properties 0.00% 20 $350 No change
TRIP Tripadvisor Inc. 0.00% 24 $348 No change
AIG American International Group 0.00% 4 $293 No change
NGVT Ingevity Corp. 0.00% 7 $273 No change
AVNS Avanos Medical Inc. 0.00% 11 $264 No change
GRAL Grail Inc. 0.00% 17 $234 Reduce -46.9%
RMR RMR Group Inc./the - A 0.00% 7 $178 No change
OPITQ Office Properties Income Tru 0.00% 25 $54 No change
EMBC Embecta Corp. 0.00% 3 $42 No change
ONL Orion Properties Inc. filed as ORION OFFICE REIT INC 0.00% 10 $40 No change
Other holdings (29): bonds, preferreds, convertibles and warrants · $4.0M (not counted above)
SecurityClassShares / PrincipalValueChange
US BANCORP (USB 4 PERP M) PFD 84,165$1.7MNo change
CHARLES SCHWAB CORP (SCHW 4.45 PERP J) PFD 36,750$821KReduce -9.8%
HUNTINGTON BANCSHARES (HBAN 4.5 PERP H) PFD 21,300$435KReduce -15.8%
NATIONAL RURAL UTIL COOP (NRUC 5.5 05/15/64 US) PFD 9,612$239KNo change
BRUNSWICK CORP (BC 6.5 10/15/48) PFD 9,338$232KNo change
SOUTHERN CO (SO 4.2 10/15/60 C) PFD 10,100$224KNo change
NEXTERA ENERGY CAPITAL (NEE 5.65 03/01/79 N) PFD 8,948$222KNo 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$22KNo change
KIMCO REALTY CORP (KIM 5.25 PERP M) PFD 655$16KNo change
ZIONS BANCORP NA (ZION V0 PERP G) COM 500$13KNo change
GOLDMAN SACHS GROUP INC (GS F PERP D) Preferred Stock 500$11KNo change
ENBRIDGE INC (ENBCN V5.85792 PERP L) PFD 177$4KNo change
HUNTINGTON BANCSHARES (HBAN V6.875 PERP J) PFD 150$4KNo change
FIFTH THIRD BANCORP (FITB 4.95 PERP K) Common Stock 150$3KNo change
AT&T INC (T 4.75 PERP C) PFD 165$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
UNUM GROUP (UNM 6.25 06/15/58) PFD 125$3KNo change
DUKE ENERGY CORP (DUK 5.75 PERP A) Common Stock 125$3KNo change
BROOKFIELD OAKTREE HLDGS (OAK 6.625 PERP A) PFD 125$3KNo change
GEORGIA POWER CO (SO 5 10/01/77 2017) COM 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
OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 3$89No change
GABELLI UTILITY TRUST/THE RIGHT 10/21/2024 720$20No change

Total filed on the 13F, all lines: $365.0M.

Portfolio Sells Q2 2024 → Q3 2024
AVGO Broadcom Inc. Reduce -18.3% 2.97% −0.56
MSFT Microsoft Corp. Reduce -0.2% 6.18% −0.53
LLY Eli Lilly & Co. Reduce -9.3% 2.88% −0.50
GOOGL Alphabet Inc. Class A Reduce -2.6% 2.83% −0.50
JPM JPMorgan Chase & Co. Reduce -9.2% 2.28% −0.23
INTC Intel Corp. Reduce -36.8% 0.19% −0.23
GOOG Alphabet Inc. Class C Reduce -6.3% 0.78% −0.17
AMD Advanced Micro Devices Reduce -47.4% 0.14% −0.13
HON Honeywell International Inc. Reduce -0.0% 1.55% −0.12
ABT Abbott Laboratories Reduce -19.5% 0.65% −0.12
LIN Linde PLC Reduce -15.4% 0.86% −0.12
TT Trane Technologies PLC Reduce -27.4% 0.42% −0.09
DHR Danaher Corp. Reduce -33.5% 0.19% −0.08
BA The Boeing Co. Reduce -8.7% 0.18% −0.07
EMR Emerson Electric Co. Reduce -0.1% 0.46% −0.02
SHEL Shell PLC-ADR Reduce -0.1% 0.16% −0.02
EBAY eBay Inc. Sold out 0.00% −0.02
MDLZ Mondelez International Inc. Class A Reduce -25.3% 0.09% −0.02
MCK McKesson Corp. Reduce -0.8% 0.09% −0.02
IOO iShares Global 100 ETF Reduce -0.3% 1.08% −0.02
ORLY O'reilly Automotive Inc. Reduce -7.3% 0.56% −0.02
COP Conocophillips Reduce -0.4% 0.12% −0.02
TGT Target Corp. Reduce -5.1% 0.36% −0.02
REGN Regeneron Pharmaceuticals Reduce -0.3% 0.35% −0.02
PINS Pinterest Inc. Class A Reduce -38.1% 0.01% −0.02
TIP iShares Tips Bond ETF Sold out 0.00% −0.01
FLRN SS SPDR BB Ig Float RT ETF Reduce -98.4% 0.00% −0.01
ROP Roper Technologies Inc. Reduce -2.1% 0.17% −0.01
KLAC KLA Corp. Reduce -7.4% 0.06% −0.01
BAC Bank of America Corp. Reduce -5.0% 0.12% −0.01
VMBS Vanguard Mortgage-Backed Sec Reduce -10.8% 0.09% −0.01
BDX Becton Dickinson and Co. Reduce -58.6% 0.01% −0.01
MDT Medtronic PLC Reduce -18.0% 0.09% −0.01
UPS United Parcel Service Class B Reduce -0.3% 0.20% −0.01
CSCO Cisco Systems Inc. Reduce -12.0% 0.16% −0.01
BKLN Invesco Senior Loan ETF Reduce -7.8% 0.06% −0.01
VRP Invesco Variable Rate Prefer Sold out 0.00% −0.01
IEF iShares 7-10 Year Treasury B Reduce -7.0% 0.11% −0.01
SJNK SS SPDR BB St Hi Yield ETF Reduce -6.1% 0.09% −0.01
BAB Invesco Taxable Municipal Bo Sold out 0.00% −0.01
SPTL SS SPDR PF LNG TRM TSY E-Usd Reduce -9.1% 0.07% −0.01
TEL Te Connectivity PLC Reduce -21.4% 0.01% −0.00
ILMN Illumina Inc. Reduce -77.5% 0.00% −0.00
TJX TJX Companies Inc. Sold out 0.00% −0.00
USHY iShares Broad Usd High Yield Reduce -7.2% 0.05% −0.00
VLO Valero Energy Corp. Reduce -7.8% 0.01% −0.00
HPQ HP Inc. Reduce -1.0% 0.14% −0.00
NUE Nucor Corp. Reduce -6.0% 0.02% −0.00
UL Unilever PLC Reduce -31.8% 0.01% −0.00
WM Waste Management Inc. Reduce -5.2% 0.03% −0.00

Portfolio Buys Q2 2024 → Q3 2024
PAYC Paycom Software Inc. Add +647.9% 0.50% +0.44
PYPL PayPal Holdings Inc. Add +292.1% 0.45% +0.36
CMG Chipotle Mexican Grill Inc. Add +342.9% 0.44% +0.33
PH Parker Hannifin Corp. Add +14.4% 0.98% +0.27
ABBV Abbvie Inc. Add +6.0% 1.38% +0.20
C Citigroup Inc. Add +79.5% 0.48% +0.20
JNJ Johnson & Johnson Add +5.3% 1.12% +0.12
XOM Exxon Mobil Corp. Add +10.6% 1.62% +0.12
VCLT Vanguard Long-Term Corp. Bond Add +0.1% 4.08% +0.11
DELL Dell Technologies -C New 0.11% +0.11
MBB iShares MBS ETF Add +7.8% 1.48% +0.11
PEP Pepsico Inc. Add +19.9% 0.69% +0.11
GS Goldman Sachs Group Inc. Add +15.9% 0.54% +0.10
SHOP Shopify Inc. Class A Add +0.6% 0.59% +0.09
SPY SS SPDR S&P 500 ETF Trust-US Add +0.2% 6.19% +0.08
V Visa Inc. Class A Add +8.2% 1.04% +0.08
SCHD Schwab US DVD Equity ETF Add +5.9% 0.63% +0.06
EXPE Expedia Group Inc. Add +2.3% 0.38% +0.05
IGIB iShares 5-10Y Inv Grade Corp. Add +0.0% 7.34% +0.04
JIREF JPM Usd Ultshrt Inc. Act ETF New 0.04% +0.04
SCHW Schwab (charles) Corp. Add +32.5% 0.33% +0.04
KVUE Kenvue Inc. Add +4.5% 0.14% +0.03
DNP DNP Select Income Fund Inc. Add +0.4% 0.17% +0.03
GE General Electric Add +1.1% 0.18% +0.02
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Add +30.5% 0.06% +0.01
MRSH Marsh & McLennan Cos Add +0.5% 0.42% +0.01
IGOV iShares International Treasu New 0.01% +0.01
PG The Procter & Gamble Co. Add +0.1% 0.89% +0.01
WFC Wells Fargo & Co. Add +23.2% 0.07% +0.01
IHY Vaneck Int High Yield Bond New 0.01% +0.01
SPTI SS SPDR P Int Term TSY ETF Add +2.9% 0.23% +0.01
EOG EOG Resources Inc. Add +10.5% 0.15% +0.01
PCY Invesco Emerging Markets Sov Add +79.4% 0.01% +0.00
AVB Avalonbay Communities Inc. Add +0.7% 0.07% +0.00
PFF iShares Preferred & Income S Add +0.2% 0.21% +0.00
CCL Carnival Corp. Add +258.1% 0.00% +0.00
LQD Ishr Ibx Usd Invgd CB ETF-Ui Add +3.6% 0.03% +0.00
FUN Six Flags Entertainment Corp. New 0.00% +0.00
SCCO Southern Copper Corp. Add +0.5% 0.01% +0.00
SW Smurfit Westrock PLC New 0.00% +0.00
MITSY Mitsui & Co. Ltd.-Spons ADR Add +94.9% 0.01% −0.00
MRK Merck & Co. Inc. Add +9.0% 0.92% −0.04
NVDA Nvidia Corp. Add +0.3% 1.01% −0.06
QCOM Qualcomm Inc. Add +13.4% 0.84% −0.06
CVX Chevron Corp. Add +1.5% 0.77% −0.07
AMZN Amazon.com Inc. Add +2.2% 1.43% −0.08
IGSB iShares 1-5Y Inv Grade Corp. Add +0.2% 8.70% −0.11
CRWD CrowdStrike Holdings Inc. Class A Add +8.9% 0.80% −0.25

Notes & Other Activity Q2 2024 → Q3 2024
CHARLES SCHWAB CORP (SCHW 4.45 PERP J) PFD Reduce -9.8% 36,750 $821K
HUNTINGTON BANCSHARES (HBAN 4.5 PERP H) PFD Reduce -15.8% 21,300 $435K

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