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	1,147	6,539	SH		SOLE		6,539	0	0
Abbott Laboratories	COM	002824100	3,007	25,457	SH		SOLE		25,457	0	0
Abbvie Inc	COM	00287Y109	4,163	38,594	SH		SOLE		38,594	0	0
Air Products & Chemicals	COM	009158106	694	2,710	SH		SOLE		2,710	0	0
Allstate Corp 4.75 Pfd	PFD	020002812	256	9,305	SH		SOLE		9,305	0	0
Alphabet Inc-CL A	COM	02079K305	6,767	2,531	SH		SOLE		2,531	0	0
Alphabet Inc-CL C	COM	02079K107	2,263	849	SH		SOLE		849	0	0
Amazon.com Inc	COM	023135106	3,413	1,039	SH		SOLE		1,039	0	0
American Express Co	COM	025816109	4,208	25,120	SH		SOLE		25,120	0	0
Amgen Inc	COM	031162100	706	3,320	SH		SOLE		3,320	0	0
Apple Inc	COM	037833100	6,669	47,131	SH		SOLE		47,131	0	0
Avalonbay Communities	COM	053484101	278	1,255	SH		SOLE		1,255	0	0
Avery Dennison Corp	COM	053611109	519	2,506	SH		SOLE		2,506	0	0
Bank of America Corp	COM	060505104	1,105	26,039	SH		SOLE		26,039	0	0
Bank of America Corp 5 Pfd	PFD	06055H202	261	9,766	SH		SOLE		9,766	0	0
Berkshire Hathaway Cl B	COM	084670702	18,463	67,645	SH		SOLE		67,645	0	0
BlackRock Inc	COM	09247X101	409	488	SH		SOLE		488	0	0
Boeing Co	COM	097023105	1,826	8,300	SH		SOLE		8,300	0	0
Booking Holdings Inc.	COM	09857L108	1,467	618	SH		SOLE		618	0	0
Bristol-Myers Squibb Co	COM	110122108	3,316	56,040	SH		SOLE		56,040	0	0
Broadcom Inc	COM	11135F101	3,867	7,975	SH		SOLE		7,975	0	0
Brunswick Corp 6.5 Pfd	PFD	117043406	265	9,338	SH		SOLE		9,338	0	0
Carrier Global	COM	14448C104	904	17,460	SH		SOLE		17,460	0	0
Cars.com Inc	COM	14575E105	152	11,980	SH		SOLE		11,980	0	0
Caterpillar Inc	COM	149123101	2,085	10,861	SH		SOLE		10,861	0	0
Chevron Corp	COM	166764100	2,220	21,882	SH		SOLE		21,882	0	0
Chipotle Mexican Grill Inc	COM	169656105	529	291	SH		SOLE		291	0	0
Cigna Corp	COM	125523100	891	4,453	SH		SOLE		4,453	0	0
Cisco Systems Inc	COM	17275R102	1,973	36,250	SH		SOLE		36,250	0	0
Citigroup Inc	COM	172967424	204	2,905	SH		SOLE		2,905	0	0
Coca-Cola Co	COM	191216100	1,612	30,716	SH		SOLE		30,716	0	0
ConocoPhillips	COM	20825C104	282	4,168	SH		SOLE		4,168	0	0
CRISPR Therapeutics AG	COM	H17182108	632	5,648	SH		SOLE		5,648	0	0
CrowdStrike Holdings Inc	COM	22788C105	1,717	6,985	SH		SOLE		6,985	0	0
CSX Corp	COM	126408103	1,018	34,233	SH		SOLE		34,233	0	0
Cummins Inc	COM	231021106	202	899	SH		SOLE		899	0	0
Danaher Corp	COM	235851102	1,189	3,906	SH		SOLE		3,906	0	0
Disney (Walt) Co/The	COM	254687106	622	3,679	SH		SOLE		3,679	0	0
Eaton Corp PLC	COM	G29183103	3,256	21,804	SH		SOLE		21,804	0	0
Ebay Inc	COM	278642103	1,101	15,800	SH		SOLE		15,800	0	0
Emerson Electric Co	COM	291011104	1,217	12,921	SH		SOLE		12,921	0	0
Enbridge Inc	COM	29250N105	866	21,749	SH		SOLE		21,749	0	0
EOG Resources Inc	COM	26875P101	552	6,883	SH		SOLE		6,883	0	0
Expedia Group Inc	COM	30212P303	286	1,747	SH		SOLE		1,747	0	0
Exxon Mobil Corp	COM	30231G102	3,725	63,332	SH		SOLE		63,332	0	0
Facebook Inc-A	COM	30303M102	1,538	4,532	SH		SOLE		4,532	0	0
Fallen Angel High Yield ETF	COM	92189F437	391	11,830	SH		SOLE		11,830	0	0
Fastenal Co	COM	311900104	288	5,587	SH		SOLE		5,587	0	0
First Republic Bank 4.25 Pfd	PFD	33616C746	246	9,765	SH		SOLE		9,765	0	0
Fiserv Inc	COM	337738108	1,318	12,143	SH		SOLE		12,143	0	0
General Motors Co	COM	37045V100	1,423	27,000	SH		SOLE		27,000	0	0
Goldman Sachs Group Inc	COM	38141G104	1,310	3,466	SH		SOLE		3,466	0	0
Home Depot Inc	COM	437076102	1,783	5,432	SH		SOLE		5,432	0	0
Honeywell International	COM	438516106	5,457	25,708	SH		SOLE		25,708	0	0
HP Inc	COM	40434L105	278	10,152	SH		SOLE		10,152	0	0
IBM Corp	COM	459200101	256	1,843	SH		SOLE		1,843	0	0
Illinois Tool Works	COM	452308109	408	1,973	SH		SOLE		1,973	0	0
Illumina Inc	COM	452327109	1,053	2,595	SH		SOLE		2,595	0	0
Integrys Energy 6.00 Pfd	PFD	45822P204	254	9,534	SH		SOLE		9,534	0	0
Intel Corp	COM	458140100	2,576	48,340	SH		SOLE		48,340	0	0
iShares 1-3 Year Treasury Bond ETF	COM	464287457	431	5,000	SH		SOLE		5,000	0	0
IShares 1-5 Year Investment Grade Corp	COM	464288646	1,045	19,129	SH		SOLE		19,129	0	0
IShares 5-10 Year Investment Grade Corp	COM	464288638	4,012	66,794	SH		SOLE		66,794	0	0
iShares 7-10 Year Treasury Bond ETF	COM	464287440	2,205	19,137	SH		SOLE		19,137	0	0
iShares Barclays Agg Bond	COM	464287226	876	7,633	SH		SOLE		7,633	0	0
IShares Broad USD HY Corp Bond ETF	COM	46435U853	1,261	30,388	SH		SOLE		30,388	0	0
iShares Core MSCI Emerging ETF	COM	46434G103	263	4,252	SH		SOLE		4,252	0	0
iShares Core S&P 500 ETF	COM	464287200	941	2,184	SH		SOLE		2,184	0	0
iShares MBS Bond ETF	COM	464288588	3,915	36,205	SH		SOLE		36,205	0	0
iShares MSCI EAFE Index Fd	COM	464287465	1,941	24,880	SH		SOLE		24,880	0	0
iShares MSCI Emrg Mkt Indx	COM	464287234	1,676	33,275	SH		SOLE		33,275	0	0
iShares Preferred & Income Sec ETF	COM	464288687	3,600	92,761	SH		SOLE		92,761	0	0
iShares S&P Global 100 Fd	COM	464287572	2,777	39,030	SH		SOLE		39,030	0	0
iShares S&P Midcap 400	COM	464287507	1,144	4,348	SH		SOLE		4,348	0	0
iShares S&P SmallCap 600	COM	464287804	2,754	25,224	SH		SOLE		25,224	0	0
J P Morgan Chase	COM	46625H100	7,006	42,801	SH		SOLE		42,801	0	0
Johnson & Johnson	COM	478160104	3,299	20,428	SH		SOLE		20,428	0	0
JPMorgan Chase & Co 4.75 Pfd	PFD	48128B622	254	9,695	SH		SOLE		9,695	0	0
Keysight Technologies Inc W/I	COM	49338L103	418	2,544	SH		SOLE		2,544	0	0
Lilly (Eli) & Co	COM	532457108	2,366	10,240	SH		SOLE		10,240	0	0
Linde PLC	COM	G5494J103	2,238	7,630	SH		SOLE		7,630	0	0
Lowe's Companies Inc	COM	548661107	1,233	6,080	SH		SOLE		6,080	0	0
Marsh & McLennan Cos Inc	COM	571748102	924	6,103	SH		SOLE		6,103	0	0
Mastercard Inc	COM	57636Q104	1,258	3,618	SH		SOLE		3,618	0	0
Medtronic PLC	COM	G5960L103	643	5,131	SH		SOLE		5,131	0	0
Merck & Company	COM	58933Y105	6,876	91,540	SH		SOLE		91,540	0	0
Metlife Inc 4.75 Pfd	PFD	59156R850	259	9,640	SH		SOLE		9,640	0	0
Microsoft Corp	COM	594918104	13,913	49,352	SH		SOLE		49,352	0	0
Mimedx Group Inc	COM	602496101	738	121,796	SH		SOLE		121,796	0	0
Mondelez International Inc	COM	609207105	1,179	20,258	SH		SOLE		20,258	0	0
Morgan Stanley	COM	617446448	316	3,247	SH		SOLE		3,247	0	0
National Rural Util Corp 5.5 Pfd	PFD	637432105	259	9,487	SH		SOLE		9,487	0	0
Nextera Energy Capital 5.65 Pfd	PFD	65339K860	250	8,948	SH		SOLE		8,948	0	0
Nextera Energy Inc	COM	65339F101	1,409	17,948	SH		SOLE		17,948	0	0
NVIDIA Corp	COM	67066G104	621	3,000	SH		SOLE		3,000	0	0
O'Reilly Automotive Inc	COM	67103H107	1,516	2,481	SH		SOLE		2,481	0	0
Organon & Company	COM	68622V106	269	8,218	SH		SOLE		8,218	0	0
Otis Worldwide Corp	COM	68902V107	339	4,123	SH		SOLE		4,123	0	0
Parker Hannifin Corp	COM	701094104	689	2,464	SH		SOLE		2,464	0	0
Paycom Software Inc	COM	70432V102	1,396	2,816	SH		SOLE		2,816	0	0
PayPal Holdings Inc	COM	70450Y103	2,649	10,179	SH		SOLE		10,179	0	0
PepsiCo Inc	COM	713448108	2,808	18,671	SH		SOLE		18,671	0	0
Pfizer Inc	COM	717081103	2,619	60,885	SH		SOLE		60,885	0	0
Phillips 66	COM	718546104	879	12,556	SH		SOLE		12,556	0	0
Procter & Gamble Co	COM	742718109	2,665	19,061	SH		SOLE		19,061	0	0
Public Storage 4.625 Pfd	PFD	74460W552	259	9,500	SH		SOLE		9,500	0	0
Qualcomm Inc	COM	747525103	1,896	14,703	SH		SOLE		14,703	0	0
Raytheon Technologies Corp	COM	75513E101	1,209	14,063	SH		SOLE		14,063	0	0
Regeneron Pharmaceuticals	COM	75886F107	576	952	SH		SOLE		952	0	0
Roper Industries	COM	776696106	518	1,162	SH		SOLE		1,162	0	0
Royal Dutch Shell-A ADR	COM	780259206	382	8,575	SH		SOLE		8,575	0	0
Salesforce.Com Inc	COM	79466L302	328	1,208	SH		SOLE		1,208	0	0
Schwab US Dividend Equity ETF	COM	808524797	1,117	15,049	SH		SOLE		15,049	0	0
Scotts Miracle-Gro Co Cl-A	COM	810186106	1,021	6,973	SH		SOLE		6,973	0	0
Southern Co 4.20 Pfd	PFD	842587883	259	10,100	SH		SOLE		10,100	0	0
SPDR Barclays ST HY Bond	COM	78468R408	1,788	65,297	SH		SOLE		65,297	0	0
SPDR Blackstone Senior Loan ETF	COM	78467V608	3,401	73,900	SH		SOLE		73,900	0	0
SPDR Bloomberg Barclays Inv Grade FR ETF	COM	78468R200	400	13,040	SH		SOLE		13,040	0	0
SPDR Interm TSY ETF	COM	78464A672	1,844	57,061	SH		SOLE		57,061	0	0
SPDR Port Long Term Treasury ETF	COM	78464A664	360	8,715	SH		SOLE		8,715	0	0
SPDR S & P 500 ETF Trust	COM	78462F103	20,425	47,596	SH		SOLE		47,596	0	0
SPDR S & P Midcap 400 ETF	COM	78467Y107	6,699	13,930	SH		SOLE		13,930	0	0
Splunk Inc	COM	848637104	308	2,126	SH		SOLE		2,126	0	0
Synchrony Financial	COM	87165B103	737	15,068	SH		SOLE		15,068	0	0
Sysco Corp	COM	871829107	264	3,360	SH		SOLE		3,360	0	0
Target Corp	COM	87612E106	3,028	13,238	SH		SOLE		13,238	0	0
Texas Instruments Inc	COM	882508104	320	1,667	SH		SOLE		1,667	0	0
Thermo Fisher Corp	COM	883556102	2,477	4,335	SH		SOLE		4,335	0	0
Trane Technologies PLC	COM	G8994E103	1,014	5,874	SH		SOLE		5,874	0	0
Travelers Companies Inc	COM	89417E109	544	3,580	SH		SOLE		3,580	0	0
Truist Financial Corp	COM	89832Q109	203	3,461	SH		SOLE		3,461	0	0
Truist Financial Corp 4.75 Pfd	PFD	89832Q695	259	9,725	SH		SOLE		9,725	0	0
United Parcel Services B	COM	911312106	954	5,240	SH		SOLE		5,240	0	0
US Bancorp	COM	902973304	892	15,000	SH		SOLE		15,000	0	0
US Bank 4.00 Pfd	PFD	902973718	2,313	91,365	SH		SOLE		91,365	0	0
Vanguard Growth ETF	COM	922908736	606	2,089	SH		SOLE		2,089	0	0
Vanguard Long-Term Corp Bond ETF	COM	92206C813	1,345	12,738	SH		SOLE		12,738	0	0
Vanguard S&P 500 ETF	COM	922908363	3,193	8,097	SH		SOLE		8,097	0	0
Verizon Communications Inc	COM	92343V104	360	6,663	SH		SOLE		6,663	0	0
Visa Inc Cl-A Shares	COM	92826C839	2,938	13,189	SH		SOLE		13,189	0	0
Wal Mart Inc.	COM	931142103	377	2,705	SH		SOLE		2,705	0	0
Walgreens Boots Alliance	COM	931427108	1,093	23,221	SH		SOLE		23,221	0	0
WEX INC	COM	96208T104	755	4,288	SH		SOLE		4,288	0	0
Whirlpool Corp	COM	963320106	469	2,300	SH		SOLE		2,300	0	0
Zebra Technologies Corp Cl	COM	989207105	1,792	3,477	SH		SOLE		3,477	0	0
Zimmer Holdings Inc	COM	98956P102	973	6,650	SH		SOLE		6,650	0	0