Waverton Investment 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

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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
Activision Blizzard Inc Com US$0.000001	COM	00507V109	11,123	308,034	SH		SOLE		308,034	0	0
Acuity Brands Inc US$0.01	COM	00508Y102	2,747	11,900	SH		SOLE		11,900	0	0
Agco Corporation US$0.01	COM	001084102	3,396	58,695	SH		SOLE		58,695	0	0
Akamai Technologies Inc Com US$0.01	COM	00971T101	1,307	19,608	SH		SOLE		19,608	0	0
Alphabet Inc US$0.001 'A'	CAP STK CL A	02079K305	82,469	104,068	SH		SOLE		104,068	0	0
Alphabet Inc US$0.001 'C'	CAP STK CL C	02079K107	32,735	42,413	SH		SOLE		42,413	0	0
Altria Group Inc Com US$0.3333	COM	02209S103	5,241	77,500	SH		SOLE		77,500	0	0
Amazon.com Inc Com US$0.01	COM	023135106	48,371	64,506	SH		SOLE		64,506	0	0
American Express Co Com US$0.20	COM	025816109	31,278	422,217	SH		SOLE		422,217	0	0
American Tower Corporation Com US$0.01	COM	03027X100	10,282	97,289	SH		SOLE		97,289	0	0
Amgen Inc Com US$0.0001	COM	031162100	2,154	14,732	SH		SOLE		14,732	0	0
AON Plc US$0.01	SHS CL A	G0408V102	8,346	74,830	SH		SOLE		74,830	0	0
Apache Corporation Com US$1.25	COM	037411105	1,276	20,111	SH		SOLE		20,111	0	0
Apple Inc Com	COM	037833100	96,709	834,990	SH		SOLE		834,990	0	0
B/E Aerospace Inc Com US$0.01	COM	073302101	4,845	80,500	SH		SOLE		80,500	0	0
Baidu Inc ADS Each Repr 0.10 Ord Class 'A' Share	SPON ADR REP A	056752108	54,778	333,181	SH		SOLE		333,181	0	0
Banco Bradesco SA SPON ADR Rep 1 Pref	SP ADR PFD NEW	059460303	1,047	120,243	SH		SOLE		120,243	0	0
Berkshire Hathaway 'B' Com US$0.1667	CL B NEW	084670702	61,948	380,094	SH		SOLE		380,094	0	0
Bunge Ltd Com US$0.01	COM	G16962105	1,826	25,273	SH		SOLE		25,273	0	0
Cadiz Inc Com US$0.01	COM NEW	127537207	2,101	168,100	SH		SOLE		168,100	0	0
Casey's General Stores	COM	147528103	4,643	39,060	SH		SOLE		39,060	0	0
CDW Corporation Com US$0.01	COM	12514G108	6,108	117,258	SH		SOLE		117,258	0	0
Centerpoint Energy Com	COM	15189T107	531	21,534	SH		SOLE		21,534	0	0
Centurylink Inc Com US$1	COM	156700106	413	17,350	SH		SOLE		17,350	0	0
Church & Dwight Com US$1	COM	171340102	15,357	347,523	SH		SOLE		347,523	0	0
CIA Energ MG-CEMIG SPN ADR REP 1 PRF (LVL 2)	CL A	204409601	421	184,652	SH		SOLE		184,652	0	0
Cisco Systems Com US$0.001	COM	17275R102	3,331	110,231	SH		SOLE		110,231	0	0
Colgate-Palmolive Co Com US$1.00	COM	194162103	13,258	202,605	SH		SOLE		202,605	0	0
Comcast Corp Com Class 'A' US$1.00	CL A	20030N101	9,400	136,130	SH		SOLE		136,130	0	0
Convergys Corp Com	COM	212485106	518	21,105	SH		SOLE		21,105	0	0
Corning Inc Com US$0.50	COM	219350105	591	24,345	SH		SOLE		24,345	0	0
Ctrip.Com International Ltd ADS Each Rep 0.5 Ord US$0.01	AMERICAN DEP SHS	22943F100	4,728	118,200	SH		SOLE		118,200	0	0
CVS Health Corp Com US$0.01	COM	126650100	4,205	53,287	SH		SOLE		53,287	0	0
DaVita Inc Com US$0.001	COM	23918K108	3,993	62,200	SH		SOLE		62,200	0	0
Delta Air Lines Inc Com US$0.0001	COM NEW	247361702	1,413	28,735	SH		SOLE		28,735	0	0
Deluxe Corp US$1	COM	248019101	5,119	71,479	SH		SOLE		71,479	0	0
eBay Inc Com US$0.001	COM	278642103	546	18,400	SH		SOLE		18,400	0	0
Eli Lilly & Co Com	COM	532457108	4,846	65,885	SH		SOLE		65,885	0	0
EOG Resources Inc	COM	26875P101	64,883	641,770	SH		SOLE		641,770	0	0
ETFS Physical Swiss Gold (NUK) Shares US$	SHS	26922Y105	4,456	39,870	SH		SOLE		39,870	0	0
Express Scripts HL Com US$0.01	COM	30219G108	2,580	37,511	SH		SOLE		37,511	0	0
Exxon Mobil Corporation Com	COM	30231G102	7,972	88,326	SH		SOLE		88,326	0	0
Facebook Inc Com	CL A	30303M102	39,714	345,193	SH		SOLE		345,193	0	0
Foot Locker Inc Com US$0.01	COM	344849104	7,457	105,195	SH		SOLE		105,195	0	0
General Electric Co of America Com US$0.06	COM	369604103	36,176	1,144,824	SH		SOLE		1,144,824	0	0
Gentex Corp	COM	371901109	435	22,091	SH		SOLE		22,091	0	0
Gilead Sciences Com US$0.001	COM	375558103	73,278	1,023,289	SH		SOLE		1,023,289	0	0
Goldcorp Inc Com	COM	380956409	670	49,300	SH		SOLE		49,300	0	0
Goldman Sachs Group Com US$0.01	COM	38141G104	3,857	16,106	SH		SOLE		16,106	0	0
Hess Corporation Com US$1	COM	42809H107	1,590	25,520	SH		SOLE		25,520	0	0
Home Depot Inc Com US$0.05	COM	437076102	8,909	66,443	SH		SOLE		66,443	0	0
Honeywell International Inc Com US$1.00	COM	438516106	28,021	241,876	SH		SOLE		241,876	0	0
Hutchison China MediTech Ltd ADR	SPONSORED ADR	44842L103	1,642	120,988	SH		SOLE		120,988	0	0
International Paper Co Com US$1.00	COM	460146103	8,150	153,599	SH		SOLE		153,599	0	0
iShares Russell 1000 Growth	RUS 1000 GRW ETF	464287614	3,076	29,320	SH		SOLE		29,320	0	0
J.P. Morgan FRN 28/01/2019 US$2,000	*W EXP 10/28/201	46634E114	600	600,000	SH		SOLE		600,000	0	0
Johnson & Johnson Com US$1.00	COM	478160104	4,358	37,826	SH		SOLE		37,826	0	0
JP Morgan Chase Com US$1 (US quote)	COM	46625H100	3,024	35,045	SH		SOLE		35,045	0	0
Kinder Morgan Inc	COM	49456B101	453	21,855	SH		SOLE		21,855	0	0
KLX Inc Com $0.01	COM	482539103	1,766	39,150	SH		SOLE		39,150	0	0
Korea Electric Power Corporation ADR SPON Each Rep 0.5 Com	COM	50063B104	6,807	368,346	SH		SOLE		368,346	0	0
Lazard Ltd Com 'A' US$0.01	SHS A	G54050102	1,027	25,000	SH		SOLE		25,000	0	0
Lear Corp Com US$0.01	COM NEW	521865204	6,330	47,824	SH		SOLE		47,824	0	0
LivaNova plc	SHS	G5509L101	478	10,630	SH		SOLE		10,630	0	0
Lockheed Martin Corp Com US$1.00	COM	539830109	73,245	293,051	SH		SOLE		293,051	0	0
Marsh & McLennan Cos Inc Com US$1.00	COM	571748102	21,970	325,053	SH		SOLE		325,053	0	0
Mastercard Inc US$0.0001 Class 'A'	CL A	57636Q104	21,783	210,975	SH		SOLE		210,975	0	0
McDonald's Corporation Com US$0.01	COM	580135101	3,749	30,800	SH		SOLE		30,800	0	0
Merck & Co Inc Com US$0.50	COM	58933Y105	1,016	17,260	SH		SOLE		17,260	0	0
Metlife Inc Com US$0.01	COM	59156R108	3,255	60,400	SH		SOLE		60,400	0	0
Microsoft Corporation Com US$0.0000125	COM	594918104	61,265	985,919	SH		SOLE		985,919	0	0
Mondelez Intl Inc Com US$0.01	CL A	609207105	1,166	26,306	SH		SOLE		26,306	0	0
Monsanto Com US$0.01	COM	61166W101	2,504	23,800	SH		SOLE		23,800	0	0
National Oilwell Varco Com US$0.01	COM	637071101	1,498	40,000	SH		SOLE		40,000	0	0
Netease Inc. ADR Rep. 24 Com	SPONSORED ADR	64110W102	16,468	76,474	SH		SOLE		76,474	0	0
Northern Trust Corporation Com US$1.666	COM	665859104	4,942	55,500	SH		SOLE		55,500	0	0
NOW Inc Com US$0.01	COM	67011P100	205	10,000	SH		SOLE		10,000	0	0
Occidental Petroleum Corp Com US$0.20 USA (Regd)	COM	674599105	6,485	91,044	SH		SOLE		91,044	0	0
Old Dominion Freight Line, Inc Com US$0.10	COM	679580100	9,547	111,288	SH		SOLE		111,288	0	0
Omnicom Group Com US$0.15	COM	681919106	13,161	154,640	SH		SOLE		154,640	0	0
ON Semiconductor US$0.01	COM	682189105	422	33,103	SH		SOLE		33,103	0	0
Oracle Corporation Com US$0.01	COM	68389X105	3,324	86,438	SH		SOLE		86,438	0	0
Pfizer Inc Com US$0.05	COM	717081103	23,980	738,287	SH		SOLE		738,287	0	0
Powershares Variable Rate Preferred Portfolio Fund (ETF)	VAR RATE PFD POR	73937B597	728	29,600	SH		SOLE		29,600	0	0
Procter & Gamble Co Com	COM	742718109	1,356	16,123	SH		SOLE		16,123	0	0
Progressive Corp Com US$1	COM	743315103	485	13,664	SH		SOLE		13,664	0	0
Public Service Enterprise Group	COM	744573106	604	13,768	SH		SOLE		13,768	0	0
Raytheon Co Com US$0.01	COM	755111507	6,454	45,452	SH		SOLE		45,452	0	0
Reynolds American Com US$0.0001	COM	761713106	68,613	1,224,360	SH		SOLE		1,224,360	0	0
S&P Global Inc	COM	78409V104	69,100	642,548	SH		SOLE		642,548	0	0
Salesforce.com Inc Com US$0.001	COM	79466L302	23,286	340,144	SH		SOLE		340,144	0	0
Schlumberger Com US$0.01	COM	806857108	1,451	17,286	SH		SOLE		17,286	0	0
Southern Copper Corporation Com US$0.01	COM	84265V105	447	13,989	SH		SOLE		13,989	0	0
Spectra Energy Corp Com US$0.001	COM	84756N109	1,420	34,550	SH		SOLE		34,550	0	0
Steel Dynamics Inc Com US$0.01	COM	858119100	4,911	138,014	SH		SOLE		138,014	0	0
Sysco Corp Com US$1.00	COM	871829107	691	12,472	SH		SOLE		12,472	0	0
Taiwan Semiconductor Manufacturing ADS Rep 5 Ord TW$10	SPONSORED ADR	874039100	10,542	366,694	SH		SOLE		366,694	0	0
Time Warner Inc Com US$0.01	COM NEW	887317303	1,158	11,992	SH		SOLE		11,992	0	0
TJX Cos Inc Com US$1	COM	872540109	1,209	16,092	SH		SOLE		16,092	0	0
Union Pacific Corporation Com US$2.50	COM	907818108	44,743	431,552	SH		SOLE		431,552	0	0
US Bancorp US$0.01	COM NEW	902973304	34,601	673,568	SH		SOLE		673,568	0	0
Vanguard Dividend Appreciation ETF	DIV APP ETF	921908844	1,746	20,492	SH		SOLE		20,492	0	0
Verizon Communications Com US$0.10	COM	92343V104	12,979	243,138	SH		SOLE		243,138	0	0
VIPShop Holdings Ltd. ADR Each Repr 2 Ord Shares	SPONSORED ADR	92763W103	3,696	335,722	SH		SOLE		335,722	0	0
Visa Inc Com Stock US$0.0001	COM CL A	92826C839	3,105	39,793	SH		SOLE		39,793	0	0
W R Berkley Corp Com US$0.20	COM	084423102	952	14,317	SH		SOLE		14,317	0	0
Walt Disney Company Disney Com US$0.01	COM DISNEY	254687106	1,540	14,780	SH		SOLE		14,780	0	0
Wells Fargo & Co Com US$1 2/3	COM	949746101	95,037	1,724,505	SH		SOLE		1,724,505	0	0
WEX Inc	COM	96208T104	1,867	16,726	SH		SOLE		16,726	0	0
WisdomTree Total Dividend ETF US$0.001	COM	97717P104	1,822	22,422	SH		SOLE		22,422	0	0