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| | | 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 |
Abbott Laboratories Com | COM | 002824100 | 1,233 | 20,222 | SH | | SOLE | | 20,222 | 0 | 0 |
AbbVie Inc | COM | 00287Y109 | 1,182 | 12,760 | SH | | SOLE | | 12,760 | 0 | 0 |
Activision Blizzard Inc Com US$0.000001 | COM | 00507V109 | 67,218 | 880,740 | SH | | SOLE | | 880,740 | 0 | 0 |
Aflac Inc Com US$0.10 | COM | 001055102 | 472 | 10,976 | SH | | SOLE | | 10,976 | 0 | 0 |
Alphabet Inc US$0.001 'A' | CAP STK CL A | 02079K305 | 92,521 | 82,111 | SH | | SOLE | | 82,111 | 0 | 0 |
Alphabet Inc US$0.001 'C' | CAP STK CL C | 02079K107 | 27,330 | 24,528 | SH | | SOLE | | 24,528 | 0 | 0 |
Amazon.com Inc Com US$0.01 | COM | 023135106 | 131,855 | 77,571 | SH | | SOLE | | 77,571 | 0 | 0 |
American Express Co Com US$0.20 | COM | 025816109 | 1,686 | 17,203 | SH | | SOLE | | 17,203 | 0 | 0 |
American Tower Corporation Com US$0.01 | COM | 03027X100 | 6,722 | 46,624 | SH | | SOLE | | 46,624 | 0 | 0 |
Apple Inc Com | COM | 037833100 | 117,983 | 637,368 | SH | | SOLE | | 637,368 | 0 | 0 |
Applied Materials COM US$0.01 | COM | 038222105 | 1,082 | 23,430 | SH | | SOLE | | 23,430 | 0 | 0 |
AT&T Inc Com US$1.00 | COM | 00206R102 | 14,902 | 464,097 | SH | | SOLE | | 464,097 | 0 | 0 |
Baidu Inc ADS Each Repr 0.10 Ord Class 'A' Share | SPON ADR REP A | 056752108 | 82,925 | 341,256 | SH | | SOLE | | 341,256 | 0 | 0 |
Becton Dickinson Com US$1 | COM | 075887109 | 109,446 | 456,863 | SH | | SOLE | | 456,863 | 0 | 0 |
Berkshire Hathaway 'B' Com US$0.1667 | CL B NEW | 084670702 | 59,800 | 320,388 | SH | | SOLE | | 320,388 | 0 | 0 |
Biogen Inc Com US$0.0005 | COM | 09062X103 | 94,802 | 326,632 | SH | | SOLE | | 326,632 | 0 | 0 |
British American Tobacco Ord 25p ADR | SPONSORED ADR | 110448107 | 22,315 | 442,322 | SH | | SOLE | | 442,322 | 0 | 0 |
Cadiz Inc Com US$0.01 | COM NEW | 127537207 | 2,126 | 162,318 | SH | | SOLE | | 162,318 | 0 | 0 |
CDW Corporation Com US$0.01 | COM | 12514G108 | 1,117 | 13,830 | SH | | SOLE | | 13,830 | 0 | 0 |
Centerpoint Energy Com | COM | 15189T107 | 951 | 34,322 | SH | | SOLE | | 34,322 | 0 | 0 |
Church & Dwight Com US$1 | COM | 171340102 | 2,477 | 46,586 | SH | | SOLE | | 46,586 | 0 | 0 |
Cisco Systems Com US$0.001 | COM | 17275R102 | 1,809 | 42,037 | SH | | SOLE | | 42,037 | 0 | 0 |
Colgate-Palmolive Co Com US$1.00 | COM | 194162103 | 3,606 | 55,634 | SH | | SOLE | | 55,634 | 0 | 0 |
eBay Inc Com US$0.001 | COM | 278642103 | 667 | 18,400 | SH | | SOLE | | 18,400 | 0 | 0 |
Eli Lilly & Co Com | COM | 532457108 | 1,065 | 12,486 | SH | | SOLE | | 12,486 | 0 | 0 |
EOG Resources Inc | COM | 26875P101 | 87,551 | 703,617 | SH | | SOLE | | 703,617 | 0 | 0 |
ETFS Physical Swiss Gold (NUK) Shares US$ | SHS | 26922Y105 | 5,921 | 48,945 | SH | | SOLE | | 48,945 | 0 | 0 |
Eversource Energy | COM | 30040W108 | 661 | 11,348 | SH | | SOLE | | 11,348 | 0 | 0 |
Exxon Mobil Corporation Com | COM | 30231G102 | 7,830 | 94,642 | SH | | SOLE | | 94,642 | 0 | 0 |
Facebook Inc Com | CL A | 30303M102 | 2,471 | 12,718 | SH | | SOLE | | 12,718 | 0 | 0 |
Goodyear Tire & Rubber Co Com | COM | 382550101 | 550 | 23,607 | SH | | SOLE | | 23,607 | 0 | 0 |
Honeywell International Inc Com US$1.00 | COM | 438516106 | 74,301 | 515,797 | SH | | SOLE | | 515,797 | 0 | 0 |
International Paper Co Com US$1.00 | COM | 460146103 | 824 | 15,813 | SH | | SOLE | | 15,813 | 0 | 0 |
Johnson & Johnson Com US$1.00 | COM | 478160104 | 2,009 | 16,560 | SH | | SOLE | | 16,560 | 0 | 0 |
JP Morgan Chase Com US$1 (US quote) | COM | 46625H100 | 74,310 | 713,147 | SH | | SOLE | | 713,147 | 0 | 0 |
Kinder Morgan Inc | COM | 49456B101 | 507 | 28,706 | SH | | SOLE | | 28,706 | 0 | 0 |
Korea Electric Power Corporation ADR SPON Each Rep 0.5 Com | SPONSORED ADR | 500631106 | 9,094 | 634,151 | SH | | SOLE | | 634,151 | 0 | 0 |
Lockheed Martin Corp Com US$1.00 | COM | 539830109 | 32,368 | 109,562 | SH | | SOLE | | 109,562 | 0 | 0 |
Marsh & McLennan Cos Inc Com US$1.00 | COM | 571748102 | 38,434 | 468,877 | SH | | SOLE | | 468,877 | 0 | 0 |
Merck & Co Inc Com US$0.50 | COM | 58933Y105 | 986 | 16,240 | SH | | SOLE | | 16,240 | 0 | 0 |
Microsoft Corporation Com US$0.0000125 | COM | 594918104 | 144,513 | 1,465,505 | SH | | SOLE | | 1,465,505 | 0 | 0 |
New York Times Company Class 'A' Com US$0.10 | CL A | 650111107 | 559 | 21,586 | SH | | SOLE | | 21,586 | 0 | 0 |
Newfield Exploration Co. | COM | 651290108 | 587 | 19,411 | SH | | SOLE | | 19,411 | 0 | 0 |
Occidental Petroleum Corp Com US$0.20 USA (Regd) | COM | 674599105 | 7,327 | 87,562 | SH | | SOLE | | 87,562 | 0 | 0 |
OGE Energy Corporation Com US$0.01 | COM | 670837103 | 739 | 21,002 | SH | | SOLE | | 21,002 | 0 | 0 |
Old Dominion Freight Line, Inc Com US$0.10 | COM | 679580100 | 1,978 | 13,278 | SH | | SOLE | | 13,278 | 0 | 0 |
ON Semiconductor US$0.01 | COM | 682189105 | 1,074 | 48,324 | SH | | SOLE | | 48,324 | 0 | 0 |
Oracle Corporation Com US$0.01 | COM | 68389X105 | 1,032 | 23,425 | SH | | SOLE | | 23,425 | 0 | 0 |
Paccar Inc US$1 | COM | 693718108 | 753 | 12,153 | SH | | SOLE | | 12,153 | 0 | 0 |
PayPal Holdings Inc Com US$0.0001 | COM | 70450Y103 | 1,557 | 18,872 | SH | | SOLE | | 18,872 | 0 | 0 |
Pfizer Inc Com US$0.05 | COM | 717081103 | 5,667 | 156,209 | SH | | SOLE | | 156,209 | 0 | 0 |
Philip Morris International Com | COM | 718172109 | 1,114 | 13,794 | SH | | SOLE | | 13,794 | 0 | 0 |
Procter & Gamble Co Com | COM | 742718109 | 1,251 | 16,020 | SH | | SOLE | | 16,020 | 0 | 0 |
Progressive Corp Com US$1 | COM | 743315103 | 884 | 14,941 | SH | | SOLE | | 14,941 | 0 | 0 |
Quanta Services, Inc | COM | 74762E102 | 469 | 14,028 | SH | | SOLE | | 14,028 | 0 | 0 |
S&P Global Inc | COM | 78409V104 | 12,758 | 62,633 | SH | | SOLE | | 62,633 | 0 | 0 |
Salesforce.com Inc Com US$0.001 | COM | 79466L302 | 65,838 | 482,683 | SH | | SOLE | | 482,683 | 0 | 0 |
Schlumberger Com US$0.01 | COM | 806857108 | 97,058 | 1,447,972 | SH | | SOLE | | 1,447,972 | 0 | 0 |
Southern Copper Corporation Com US$0.01 | COM | 842587107 | 664 | 14,177 | SH | | SOLE | | 14,177 | 0 | 0 |
SPDR Gold Trust Shares | GOLD SHS | 78463V107 | 3,113 | 26,241 | SH | | SOLE | | 26,241 | 0 | 0 |
Steel Dynamics Inc Com US$0.01 | COM | 858119100 | 970 | 21,103 | SH | | SOLE | | 21,103 | 0 | 0 |
Taiwan Semiconductor Manufacturing ADS Rep 5 Ord TW$10 | SPONSORED ADR | 874039100 | 1,510 | 41,292 | SH | | SOLE | | 41,292 | 0 | 0 |
TJX Cos Inc Com US$1 | COM | 872540109 | 1,326 | 13,927 | SH | | SOLE | | 13,927 | 0 | 0 |
Tyson Foods Incorporated Class 'A' Com US$0.10 | CL A | 902494103 | 729 | 10,590 | SH | | SOLE | | 10,590 | 0 | 0 |
Ulta Beauty Inc US$0.01 | COM | 90384S303 | 2,547 | 10,908 | SH | | SOLE | | 10,908 | 0 | 0 |
Union Pacific Corporation Com US$2.50 | COM | 907818108 | 57,411 | 405,218 | SH | | SOLE | | 405,218 | 0 | 0 |
US Bancorp US$0.01 | COM NEW | 902973304 | 966 | 19,310 | SH | | SOLE | | 19,310 | 0 | 0 |
Verizon Communications Com US$0.10 | COM | 92343V104 | 10,756 | 213,795 | SH | | SOLE | | 213,795 | 0 | 0 |
Visa Inc Com Stock US$0.0001 | COM CL A | 92826C839 | 99,791 | 753,425 | SH | | SOLE | | 753,425 | 0 | 0 |
Walt Disney Company Disney Com US$0.01 | COM DISNEY | 254687106 | 1,515 | 14,450 | SH | | SOLE | | 14,450 | 0 | 0 |
Wells Fargo & Co Com US$1 2/3 | COM | 949746101 | 1,489 | 26,860 | SH | | SOLE | | 26,860 | 0 | 0 |