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	1,431	7,510	SH		SOLE		7,510	0	0
Abbott Laboratories	COM	002824100	2,451	33,881	SH		SOLE		33,881	0	0
Abbvie Inc	COM	00287Y109	2,756	29,895	SH		SOLE		29,895	0	0
Alibaba Holding Group ADR	COM	01609W102	463	3,380	SH		SOLE		3,380	0	0
Allstate Corp 5.10 Pfd	PFD	020002309	756	32,000	SH		SOLE		32,000	0	0
Alphabet Inc-CL A	COM	02079K305	2,552	2,442	SH		SOLE		2,442	0	0
Alphabet Inc-CL C	COM	02079K107	668	645	SH		SOLE		645	0	0
Amazon.com Inc	COM	023135106	517	344	SH		SOLE		344	0	0
American Express Co	COM	025816109	2,267	23,785	SH		SOLE		23,785	0	0
Amgen Inc	COM	031162100	706	3,626	SH		SOLE		3,626	0	0
Apple Inc	COM	037833100	2,329	14,762	SH		SOLE		14,762	0	0
Bank of America Corp	COM	060505104	252	10,228	SH		SOLE		10,228	0	0
Berkshire Hathaway Cl B	COM	084670702	545	2,670	SH		SOLE		2,670	0	0
BlackRock Inc	COM	09247X101	238	605	SH		SOLE		605	0	0
Boeing Co	COM	097023105	3,838	11,901	SH		SOLE		11,901	0	0
Broadcom Inc	COM	11135F101	1,162	4,570	SH		SOLE		4,570	0	0
Capital One Financial Corp	COM	14040H105	239	3,165	SH		SOLE		3,165	0	0
Caterpillar Inc	COM	149123101	675	5,310	SH		SOLE		5,310	0	0
Chevron Corp	COM	166764100	807	7,414	SH		SOLE		7,414	0	0
Chipotle Mexican Grill Inc	COM	169656105	983	2,277	SH		SOLE		2,277	0	0
Chubb Ltd	COM	H1467J104	375	2,901	SH		SOLE		2,901	0	0
Cisco Systems Inc	COM	17275R102	678	15,642	SH		SOLE		15,642	0	0
Citigroup Inc	COM	172967424	332	6,376	SH		SOLE		6,376	0	0
Coca-Cola Co	COM	191216100	1,254	26,485	SH		SOLE		26,485	0	0
Comcast Corp-Class A	COM	20030N101	208	6,096	SH		SOLE		6,096	0	0
ConocoPhillips	COM	20825C104	354	5,683	SH		SOLE		5,683	0	0
CVS Health Corp	COM	126650100	566	8,632	SH		SOLE		8,632	0	0
DowDupont Inc	COM	26078J100	267	5,001	SH		SOLE		5,001	0	0
Eaton Corp PLC	COM	G29183103	1,825	26,582	SH		SOLE		26,582	0	0
Expedia Group Inc	COM	30212P303	1,131	10,039	SH		SOLE		10,039	0	0
Exxon Mobil Corp	COM	30231G102	1,256	18,420	SH		SOLE		18,420	0	0
Facebook Inc-A	COM	30303M102	346	2,640	SH		SOLE		2,640	0	0
Fastenal Co	COM	311900104	362	6,925	SH		SOLE		6,925	0	0
Ford Motor Company	COM	345370860	137	17,967	SH		SOLE		17,967	0	0
General Electric Corp	COM	369604103	258	34,089	SH		SOLE		34,089	0	0
General Motors Co	COM	37045V100	903	27,000	SH		SOLE		27,000	0	0
Hartford Financial 7.875 Pfd	PFD	416518504	493	18,125	SH		SOLE		18,125	0	0
Home Depot Inc	COM	437076102	357	2,076	SH		SOLE		2,076	0	0
Honeywell International	COM	438516106	1,912	14,475	SH		SOLE		14,475	0	0
HP Inc	COM	40434L105	345	16,886	SH		SOLE		16,886	0	0
IBM Corp	COM	459200101	245	2,156	SH		SOLE		2,156	0	0
Illinois Tool Works	COM	452308109	255	2,014	SH		SOLE		2,014	0	0
Ingersoll-Rand PLC	COM	G47791101	454	4,975	SH		SOLE		4,975	0	0
Intel Corp	COM	458140100	2,507	53,425	SH		SOLE		53,425	0	0
Invesco Variable Rate Preferred ETF	COM	46138G870	1,538	67,407	SH		SOLE		67,407	0	0
iShares 0-5 Year HY Corp Bond ETF	COM	46434V407	1,194	26,802	SH		SOLE		26,802	0	0
iShares 1-3 Year Credit Bond ETF	COM	464288646	1,767	34,209	SH		SOLE		34,209	0	0
iShares 1-3 Year Treasury Bond ETF	COM	464287457	1,297	15,515	SH		SOLE		15,515	0	0
iShares 20 Year Treasury Bond ETF	COM	464287432	797	6,559	SH		SOLE		6,559	0	0
iShares Barclays Agg Bond	COM	464287226	1,677	15,746	SH		SOLE		15,746	0	0
iShares Core S&P 500 ETF	COM	464287200	643	2,554	SH		SOLE		2,554	0	0
iShares Floating Rate Bond ETF	COM	46429B655	558	11,086	SH		SOLE		11,086	0	0
iShares iBoxx Inv Grade Corp Bd ETF	COM	464287242	1,402	12,424	SH		SOLE		12,424	0	0
iShares iBoxx USD High Yield Corp Bd ETF	COM	464288513	678	8,357	SH		SOLE		8,357	0	0
iShares Intermed Credit Bond ETF	COM	464288638	2,034	38,807	SH		SOLE		38,807	0	0
iShares JP Morgan EMB	COM	464288281	2,205	21,218	SH		SOLE		21,218	0	0
iShares MBS Bond ETF	COM	464288588	2,568	24,543	SH		SOLE		24,543	0	0
iShares MSCI EAFE Index Fd	COM	464287465	1,709	29,077	SH		SOLE		29,077	0	0
iShares MSCI Emrg Mkt Indx	COM	464287234	1,097	28,096	SH		SOLE		28,096	0	0
iShares S&P Global 100 Fd	COM	464287572	1,936	45,672	SH		SOLE		45,672	0	0
iShares S&P Midcap 400	COM	464287507	542	3,263	SH		SOLE		3,263	0	0
iShares S&P Preferred Stk	COM	464288687	3,034	88,623	SH		SOLE		88,623	0	0
iShares S&P SmallCap 600	COM	464287804	1,632	23,536	SH		SOLE		23,536	0	0
iShares TIPS Bond ETF	COM	464287176	401	3,661	SH		SOLE		3,661	0	0
J P Morgan Chase	COM	46625H100	3,267	33,463	SH		SOLE		33,463	0	0
JM Smucker Co	COM	832696405	202	2,159	SH		SOLE		2,159	0	0
Johnson & Johnson	COM	478160104	2,263	17,536	SH		SOLE		17,536	0	0
Keysight Technologies Inc W/I	COM	49338L103	305	4,910	SH		SOLE		4,910	0	0
Lazard Ltd-Class A	COM	G54050102	214	5,786	SH		SOLE		5,786	0	0
Lilly (Eli) & Co	COM	532457108	1,143	9,879	SH		SOLE		9,879	0	0
Marathon Petroleum Corp	COM	56585A102	378	6,402	SH		SOLE		6,402	0	0
Mastercard Inc	COM	57636Q104	992	5,261	SH		SOLE		5,261	0	0
McDonald's Corp	COM	580135101	238	1,340	SH		SOLE		1,340	0	0
Medtronic PLC	COM	G5960L103	692	7,603	SH		SOLE		7,603	0	0
Merck & Company	COM	58933Y105	2,385	31,217	SH		SOLE		31,217	0	0
Microsoft Corp	COM	594918104	5,754	56,654	SH		SOLE		56,654	0	0
Mondelez International Inc	COM	609207105	757	18,922	SH		SOLE		18,922	0	0
Novartis AG ADR	COM	66987V109	252	2,939	SH		SOLE		2,939	0	0
O'Reilly Automotive Inc	COM	67103H107	695	2,017	SH		SOLE		2,017	0	0
Paycom Software Inc	COM	70432V102	256	2,089	SH		SOLE		2,089	0	0
PayPal Holdings Inc	COM	70450Y103	378	4,495	SH		SOLE		4,495	0	0
PepsiCo Inc	COM	713448108	1,386	12,544	SH		SOLE		12,544	0	0
Pfizer Inc	COM	717081103	3,186	72,990	SH		SOLE		72,990	0	0
Phillips 66	COM	718546104	674	7,819	SH		SOLE		7,819	0	0
PNC Financial Services 6.125 Pfd	PFD	693475857	964	37,550	SH		SOLE		37,550	0	0
Procter & Gamble Co	COM	742718109	1,841	20,028	SH		SOLE		20,028	0	0
Qualcomm Inc	COM	747525103	314	5,514	SH		SOLE		5,514	0	0
Salesforce.Com Inc	COM	79466L302	899	6,560	SH		SOLE		6,560	0	0
Schwab US Dividend Equity ETF	COM	808524797	599	12,743	SH		SOLE		12,743	0	0
SPDR S & P 500 ETF Trust	COM	78462F103	11,098	44,405	SH		SOLE		44,405	0	0
SPDR S & P Midcap 400 ETF	COM	78467Y107	3,817	12,612	SH		SOLE		12,612	0	0
Synchrony Financial	COM	87165B103	250	10,653	SH		SOLE		10,653	0	0
Target Corp	COM	87612E106	747	11,306	SH		SOLE		11,306	0	0
Thermo Fisher Corp	COM	883556102	492	2,199	SH		SOLE		2,199	0	0
TJX Companies Inc	COM	872540109	616	13,759	SH		SOLE		13,759	0	0
United Parcel Services B	COM	911312106	527	5,404	SH		SOLE		5,404	0	0
United Technologies Corp	COM	913017109	1,023	9,605	SH		SOLE		9,605	0	0
US Bancorp	COM	902973304	686	15,000	SH		SOLE		15,000	0	0
US Bancorp 6.50 Pfd	PFD	902973833	267	10,000	SH		SOLE		10,000	0	0
VanEck Vectors High Yield Muni ETF	COM	92189H409	3,465	56,758	SH		SOLE		56,758	0	0
Vanguard Growth ETF	COM	922908736	282	2,099	SH		SOLE		2,099	0	0
Vanguard Long-Term Corp Bond ETF	COM	92206C813	1,150	13,505	SH		SOLE		13,505	0	0
Vanguard S&P 500 ETF	COM	922908363	1,934	8,414	SH		SOLE		8,414	0	0
Verizon Communications Inc	COM	92343V104	741	13,173	SH		SOLE		13,173	0	0
Visa Inc Cl-A Shares	COM	92826C839	1,391	10,543	SH		SOLE		10,543	0	0
Wal Mart Inc.	COM	931142103	211	2,267	SH		SOLE		2,267	0	0
Walgreens Boots Alliance	COM	931427108	2,868	41,970	SH		SOLE		41,970	0	0
Wells Fargo & Co	COM	949746101	1,165	25,285	SH		SOLE		25,285	0	0
Whirlpool Corp	COM	963320106	246	2,300	SH		SOLE		2,300	0	0
Williams-Sonoma Inc	COM	969904101	314	6,217	SH		SOLE		6,217	0	0
Yum China Holdings Inc.	COM	98850P109	896	26,720	SH		SOLE		26,720	0	0
Zebra Technologies Corp Cl	COM	989207105	730	4,582	SH		SOLE		4,582	0	0
Zimmer Holdings Inc	COM	98956P102	358	3,450	SH		SOLE		3,450	0	0
Zoetis Inc	COM	98978V103	533	6,232	SH		SOLE		6,232	0	0