Boyd Watterson Asset Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
3M Company	COM	88579Y101	535	2,547	SH		SOLE		2,547	0	0
Abbott Laboratories	COM	002824100	2,262	42,398	SH		SOLE		42,398	0	0
Abbvie Inc	COM	00287Y109	3,363	37,846	SH		SOLE		37,846	0	0
Allergan PLC	COM	G0177J108	808	3,940	SH		SOLE		3,940	0	0
Allianz Se ADR	COM	018805101	271	12,047	SH		SOLE		12,047	0	0
Alphabet Inc-CL A	COM	02079K305	2,499	2,566	SH		SOLE		2,566	0	0
Alphabet Inc-CL C	COM	02079K107	825	860	SH		SOLE		860	0	0
Amazon.com Inc	COM	023135106	686	714	SH		SOLE		714	0	0
American Express Co	COM	025816109	2,363	26,125	SH		SOLE		26,125	0	0
Amgen Inc	COM	031162100	805	4,316	SH		SOLE		4,316	0	0
Apple Inc	COM	037833100	3,216	20,868	SH		SOLE		20,868	0	0
Ares Capital Corp	COM	04010L103	471	28,741	SH		SOLE		28,741	0	0
AT & T Inc	COM	00206R102	338	8,630	SH		SOLE		8,630	0	0
AXA Spons ADR	COM	054536107	267	8,820	SH		SOLE		8,820	0	0
BAE Systems PLC ADR	COM	05523R107	228	6,724	SH		SOLE		6,724	0	0
Banco Bilbao Vizcaya ADR	COM	05946K101	159	17,829	SH		SOLE		17,829	0	0
Bank of America Corp	COM	060505104	688	27,161	SH		SOLE		27,161	0	0
Bank of New York Mellon	COM	064058100	865	16,313	SH		SOLE		16,313	0	0
Barnes Group Inc	COM	067806109	744	10,560	SH		SOLE		10,560	0	0
BASF SE ADR	COM	055262505	238	2,236	SH		SOLE		2,236	0	0
BB&T Corporation	COM	054937107	292	6,230	SH		SOLE		6,230	0	0
Berkshire Hathaway Cl B	COM	084670702	710	3,874	SH		SOLE		3,874	0	0
BlackRock Inc	COM	09247X101	388	867	SH		SOLE		867	0	0
Boeing Co	COM	097023105	3,563	14,015	SH		SOLE		14,015	0	0
Bristol-Myers Squibb Co	COM	110122108	244	3,825	SH		SOLE		3,825	0	0
Broadcom LTD	COM	Y09827109	1,042	4,297	SH		SOLE		4,297	0	0
Capital One Financial Corp	COM	14040H105	713	8,426	SH		SOLE		8,426	0	0
Caterpillar Inc	COM	149123101	673	5,399	SH		SOLE		5,399	0	0
CBS Corp-Class B	COM	124857202	754	13,007	SH		SOLE		13,007	0	0
Celgene Corp	COM	151020104	495	3,393	SH		SOLE		3,393	0	0
Chevron Corp	COM	166764100	1,020	8,685	SH		SOLE		8,685	0	0
Chipotle Mexican Grill Inc	COM	169656105	288	936	SH		SOLE		936	0	0
Cisco Systems Inc	COM	17275R102	1,225	36,431	SH		SOLE		36,431	0	0
Citigroup Inc	COM	172967424	995	13,675	SH		SOLE		13,675	0	0
Coca-Cola Co	COM	191216100	1,327	29,485	SH		SOLE		29,485	0	0
Coca-Cola Femsa SAB-SP ADR	COM	191241108	383	4,961	SH		SOLE		4,961	0	0
Concho Resources Inc	COM	20605P101	626	4,753	SH		SOLE		4,753	0	0
ConocoPhillips	COM	20825C104	906	18,098	SH		SOLE		18,098	0	0
Costco Wholesale Corp	COM	22160K105	384	2,339	SH		SOLE		2,339	0	0
CVS Health Corp	COM	126650100	608	7,478	SH		SOLE		7,478	0	0
Eaton Corp PLC	COM	G29183103	2,699	35,150	SH		SOLE		35,150	0	0
Edgewell Personal Care Co	COM	28035Q102	664	9,120	SH		SOLE		9,120	0	0
Emerson Electric Co	COM	291011104	214	3,402	SH		SOLE		3,402	0	0
Ericsson LM TEL-SP ADR	COM	294821608	97	16,918	SH		SOLE		16,918	0	0
Exelon Corporation	COM	30161N101	394	10,447	SH		SOLE		10,447	0	0
Expedia Inc	COM	30212P303	1,200	8,339	SH		SOLE		8,339	0	0
Exxon Mobil Corp	COM	30231G102	1,626	19,828	SH		SOLE		19,828	0	0
Fastenal Co	COM	311900104	573	12,566	SH		SOLE		12,566	0	0
Ford Motor Company	COM	345370860	738	61,634	SH		SOLE		61,634	0	0
General Electric Corp	COM	369604103	1,346	55,686	SH		SOLE		55,686	0	0
General Motors Co	COM	37045V100	1,090	27,000	SH		SOLE		27,000	0	0
Gilead Sciences Inc	COM	375558103	314	3,871	SH		SOLE		3,871	0	0
Hanesbrands Inc	COM	410345102	1,059	42,964	SH		SOLE		42,964	0	0
HCA Holdings Inc	COM	40412C101	794	9,982	SH		SOLE		9,982	0	0
Hewlett Packard Enterprise	COM	42824C109	690	46,931	SH		SOLE		46,931	0	0
Home Depot Inc	COM	437076102	341	2,086	SH		SOLE		2,086	0	0
Honeywell Intl Inc	COM	438516106	2,102	14,833	SH		SOLE		14,833	0	0
HP Inc	COM	40434L105	396	19,860	SH		SOLE		19,860	0	0
HSBC Holdings Plc Spon ADR	COM	404280406	240	4,864	SH		SOLE		4,864	0	0
IBM Corp	COM	459200101	706	4,864	SH		SOLE		4,864	0	0
Illinois Tool Works	COM	452308109	304	2,053	SH		SOLE		2,053	0	0
Intel Corp	COM	458140100	2,192	57,566	SH		SOLE		57,566	0	0
iShares 0-5 Year HY Corp	COM	46434V407	6,159	128,768	SH		SOLE		128,768	0	0
iShares 1-3 Year Credit	COM	464288646	2,433	23,098	SH		SOLE		23,098	0	0
iShares 1-3 Year Treasury	COM	464287457	1,462	17,313	SH		SOLE		17,313	0	0
iShares 20 Year Treasury	COM	464287432	1,134	9,089	SH		SOLE		9,089	0	0
iShares Barclays Agg Bond	COM	464287226	492	4,485	SH		SOLE		4,485	0	0
iShares Core S&P 500 ETF	COM	464287200	758	2,995	SH		SOLE		2,995	0	0
iShares Floating Rate Bond ETF	COM	46429B655	749	14,698	SH		SOLE		14,698	0	0
iShares High Yield Corp	COM	464288513	1,032	11,623	SH		SOLE		11,623	0	0
iShares iBoxx Inv Grd Corp	COM	464287242	5,621	46,367	SH		SOLE		46,367	0	0
iShares Intermed Credit	COM	464288638	2,970	26,957	SH		SOLE		26,957	0	0
iShares JP Morgan EMB	COM	464288281	1,885	16,190	SH		SOLE		16,190	0	0
iShares MBS	COM	464288588	5,779	53,960	SH		SOLE		53,960	0	0
iShares MSCI EAFE Index Fd	COM	464287465	1,906	27,830	SH		SOLE		27,830	0	0
iShares Natl Muni Bd ETF	COM	464288414	9,910	89,380	SH		SOLE		89,380	0	0
iShares S&P Global 100 Fd	COM	464287572	1,900	21,533	SH		SOLE		21,533	0	0
iShares S&P Midcap 400	COM	464287507	835	4,667	SH		SOLE		4,667	0	0
iShares S&P Preferred Stk	COM	464288687	9,017	232,346	SH		SOLE		232,346	0	0
iShares S&P SmallCap 600	COM	464287804	1,807	24,352	SH		SOLE		24,352	0	0
iShares TIPS Bond ETF	COM	464287176	549	4,837	SH		SOLE		4,837	0	0
J P Morgan Chase	COM	46625H100	3,656	38,278	SH		SOLE		38,278	0	0
JM Smucker Company	COM	832696405	266	2,539	SH		SOLE		2,539	0	0
Johnson & Johnson	COM	478160104	2,306	17,739	SH		SOLE		17,739	0	0
Kinder Morgan Inc	COM	49456B101	605	31,564	SH		SOLE		31,564	0	0
Komatsu Ltd Spons ADR	COM	500458401	213	7,504	SH		SOLE		7,504	0	0
Lazard Ltd-Class A	COM	G54050102	858	18,983	SH		SOLE		18,983	0	0
Lilly (Eli) & Co	COM	532457108	1,023	11,957	SH		SOLE		11,957	0	0
Lowe's Companies Inc	COM	548661107	1,002	12,538	SH		SOLE		12,538	0	0
Macy's Inc	COM	55616P104	428	19,608	SH		SOLE		19,608	0	0
Marathon Oil Corp	COM	565849106	364	26,870	SH		SOLE		26,870	0	0
Marathon Petroleum Corp	COM	56585A102	729	13,005	SH		SOLE		13,005	0	0
Marsh & McLennan Cos Inc	COM	571748102	390	4,648	SH		SOLE		4,648	0	0
Mastercard Inc	COM	57636Q104	1,065	7,539	SH		SOLE		7,539	0	0
Mattel Inc	COM	577081102	293	18,907	SH		SOLE		18,907	0	0
McDonald's Corp	COM	580135101	472	3,011	SH		SOLE		3,011	0	0
McKesson Corp W/RTS	COM	58155Q103	449	2,921	SH		SOLE		2,921	0	0
Medtronic PLC	COM	G5960L103	1,654	21,264	SH		SOLE		21,264	0	0
Merck & Company	COM	58933Y105	1,686	26,336	SH		SOLE		26,336	0	0
Metlife Inc	COM	59156R108	200	3,850	SH		SOLE		3,850	0	0
Microsoft Corp	COM	594918104	4,821	64,717	SH		SOLE		64,717	0	0
Mitsubishi Ufj Finl ADR	COM	606822104	161	25,009	SH		SOLE		25,009	0	0
Mondelez International Inc	COM	609207105	1,126	27,700	SH		SOLE		27,700	0	0
Nippon Teleg & Tel Sp ADR	COM	654624105	262	5,727	SH		SOLE		5,727	0	0
Occidental Petroleum Corp	COM	674599105	454	7,069	SH		SOLE		7,069	0	0
Pentair PLC	COM	G7S00T104	448	6,599	SH		SOLE		6,599	0	0
PepsiCo Inc	COM	713448108	1,524	13,677	SH		SOLE		13,677	0	0
Pfizer Inc	COM	717081103	2,697	75,560	SH		SOLE		75,560	0	0
Phillips 66	COM	718546104	896	9,780	SH		SOLE		9,780	0	0
Potash Corp Saskatchewan	COM	73755L107	424	22,035	SH		SOLE		22,035	0	0
Powershrs Sr Loan Port	COM	73936Q769	5,066	218,756	SH		SOLE		218,756	0	0
Powershrs Var Rate Pref	COM	73937B597	2,024	77,679	SH		SOLE		77,679	0	0
PPG Industries Inc	COM	693506107	666	6,129	SH		SOLE		6,129	0	0
Procter & Gamble Co	COM	742718109	1,882	20,688	SH		SOLE		20,688	0	0
Qualcomm Inc	COM	747525103	775	14,946	SH		SOLE		14,946	0	0
Royal Dutch Shell-A ADR	COM	780259206	203	3,359	SH		SOLE		3,359	0	0
Sanofi ADR	COM	80105N105	218	4,383	SH		SOLE		4,383	0	0
Schwab US Dividend Equity ETF	COM	808524797	311	6,643	SH		SOLE		6,643	0	0
Shopify Inc - Class A	COM	82509L107	1,391	11,943	SH		SOLE		11,943	0	0
Siemens AG-Spons ADR	COM	826197501	207	2,941	SH		SOLE		2,941	0	0
SPDR Barclays ST HY Bond	COM	78468R408	834	29,800	SH		SOLE		29,800	0	0
SPDR S & P 500 ETF Trust	COM	78462F103	11,664	46,427	SH		SOLE		46,427	0	0
SPDR S & P Midcap 400 ETF	COM	78467Y107	4,116	12,612	SH		SOLE		12,612	0	0
Synchrony Financial	COM	87165B103	1,044	33,610	SH		SOLE		33,610	0	0
Tanger Factory Outlet Center	COM	875465106	575	23,530	SH		SOLE		23,530	0	0
Target Corp	COM	87612E106	1,164	19,719	SH		SOLE		19,719	0	0
TE Connectivity LTD	COM	H84989104	254	3,056	SH		SOLE		3,056	0	0
Total SA-Spon ADR	COM	89151E109	258	4,826	SH		SOLE		4,826	0	0
Toyota Motor Corp ADR	COM	892331307	205	1,723	SH		SOLE		1,723	0	0
Tripadvisor Inc	COM	896945201	285	7,043	SH		SOLE		7,043	0	0
Unilever N V ADR	COM	904784709	242	4,105	SH		SOLE		4,105	0	0
United Parcel Services B	COM	911312106	672	5,597	SH		SOLE		5,597	0	0
United Technologies Corp	COM	913017109	1,216	10,476	SH		SOLE		10,476	0	0
US Bancorp	COM	902973304	813	15,164	SH		SOLE		15,164	0	0
VanEck Fallen Angel HY ETF	COM	92189F437	1,347	44,445	SH		SOLE		44,445	0	0
VanEck Vectors Hgh Yield Muni Index	COM	92189F361	5,709	182,353	SH		SOLE		182,353	0	0
Vanguard Growth ETF	COM	922908736	279	2,099	SH		SOLE		2,099	0	0
Vanguard Long-Term Corp	COM	92206C813	2,067	21,948	SH		SOLE		21,948	0	0
Vanguard S&P 500 ETF	COM	922908363	1,942	8,414	SH		SOLE		8,414	0	0
Vantiv Inc - Class A	COM	92210H105	285	4,050	SH		SOLE		4,050	0	0
Verizon Communications Inc	COM	92343V104	1,006	20,326	SH		SOLE		20,326	0	0
Visa Inc Cl-A Shares	COM	92826C839	1,438	13,661	SH		SOLE		13,661	0	0
Vodafone Group PLC	COM	92857W308	210	7,393	SH		SOLE		7,393	0	0
Wal-Mart Stores Inc	COM	931142103	304	3,896	SH		SOLE		3,896	0	0
Walgreens Boots Alliance	COM	931427108	2,250	29,142	SH		SOLE		29,142	0	0
Waters Corp	COM	941848103	243	1,354	SH		SOLE		1,354	0	0
Wells Fargo & Co	COM	949746101	1,588	28,796	SH		SOLE		28,796	0	0
Whirlpool Corp	COM	963320106	1,045	5,667	SH		SOLE		5,667	0	0
Yum Brands Inc	COM	988498101	229	3,105	SH		SOLE		3,105	0	0
Yum China Holdings Inc.	COM	98850P109	790	19,765	SH		SOLE		19,765	0	0
Zimmer Holdings Inc	COM	98956P102	625	5,342	SH		SOLE		5,342	0	0