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
Abbott Laboratories Com	COM	002824100	4,566	54,298	SH		SOLE		54,298	0	0
AbbVie Inc	COM	00287Y109	881	12,113	SH		SOLE		12,113	0	0
Aberdeen Standard Physical Gold Share ETF	PHYSCL SWISS GLD	00326A104	5,715	42,025	SH		SOLE		42,025	0	0
Activision Blizzard Inc Com US$0.000001	COM	00507V109	5,704	120,842	SH		SOLE		120,842	0	0
Advanced Micro Devices	COM	007903107	3,509	115,550	SH		SOLE		115,550	0	0
Aflac Inc Com US$0.10	COM	001055102	670	12,226	SH		SOLE		12,226	0	0
Alibaba Group Holdings Ltd Sponsored ADR	SPONSORED ADS	01609W102	9,350	55,176	SH		SOLE		55,176	0	0
Amazon.com Inc Com US$0.01	COM	023135106	150,513	79,484	SH		SOLE		79,484	0	0
American Express Co Com US$0.20	COM	025816109	8,183	66,292	SH		SOLE		66,292	0	0
American Tower Corporation Com US$0.01	COM	03027X100	93,208	455,895	SH		SOLE		455,895	0	0
American Water Works Company Inc US$0.01	COM	030420103	1,248	10,757	SH		SOLE		10,757	0	0
Ametek Inc Com US$0.01	COM	031100100	968	10,655	SH		SOLE		10,655	0	0
Apple Inc Com	COM	037833100	71,324	360,369	SH		SOLE		360,369	0	0
AT&T Inc Com US$1.00	COM	00206R102	45,588	1,360,433	SH		SOLE		1,360,433	0	0
Baidu Inc ADS Each Repr 0.10 Ord Class 'A' Share	SPON ADR REP A	056752108	3,500	29,826	SH		SOLE		29,826	0	0
Becton Dickinson Com US$1	COM	075887109	130,176	516,551	SH		SOLE		516,551	0	0
Berkshire Hathaway 'B' Com US$0.1667	CL B NEW	084670702	70,684	331,586	SH		SOLE		331,586	0	0
Biogen Inc Com US$0.0005	COM	09062X103	59,247	253,331	SH		SOLE		253,331	0	0
British American Tobacco Ord 25p ADR	SPONSORED ADR	110448107	13,661	391,759	SH		SOLE		391,759	0	0
Cadiz Inc Com US$0.01	COM NEW	127537207	1,496	133,000	SH		SOLE		133,000	0	0
CDW Corporation Com US$0.01	COM	12514G108	1,252	11,281	SH		SOLE		11,281	0	0
Centerpoint Energy Com	COM	15189T107	1,078	37,644	SH		SOLE		37,644	0	0
Church & Dwight Com US$1	COM	171340102	2,300	31,485	SH		SOLE		31,485	0	0
Cisco Systems Com US$0.001	COM	17275R102	3,778	69,029	SH		SOLE		69,029	0	0
Cognizant Tech Solutions Com	CL A	192446102	847	13,357	SH		SOLE		13,357	0	0
Colgate-Palmolive Co Com US$1.00	COM	194162103	3,406	47,519	SH		SOLE		47,519	0	0
Danaher Corp. US$0.01	COM	235851102	1,525	10,671	SH		SOLE		10,671	0	0
eBay Inc Com US$0.001	COM	278642103	727	18,400	SH		SOLE		18,400	0	0
Eli Lilly & Co Com	COM	532457108	1,347	12,155	SH		SOLE		12,155	0	0
Emerson Electric Co Com US$0.50	CALL	291011904	11,793	176,760	SH		SOLE		176,760	0	0
Encana Corp Com NPV	COM	292505104	289	56,413	SH		SOLE		56,413	0	0
EOG Resources Inc	COM	26875P101	81,092	870,458	SH		SOLE		870,458	0	0
Eversource Energy	COM	30040W108	953	12,581	SH		SOLE		12,581	0	0
Exxon Mobil Corporation Com	COM	30231G102	7,147	93,263	SH		SOLE		93,263	0	0
Facebook Inc Com	CL A	30303M102	2,541	13,164	SH		SOLE		13,164	0	0
Fortive Corp Com US$0.01	COM	34959J108	839	10,293	SH		SOLE		10,293	0	0
Harris Corp Com US$1	COM	413875105	3,793	20,057	SH		SOLE		20,057	0	0
Helmerich & Payne Inc Com US$0.10	COM	423452101	518	10,231	SH		SOLE		10,231	0	0
Home Depot Inc Com US$0.05	COM	437076102	101,443	487,775	SH		SOLE		487,775	0	0
Honeywell International Inc Com US$1.00	COM	438516106	102,689	588,174	SH		SOLE		588,174	0	0
Illumina Incorporated Com US$0.01	COM	452327109	60,475	164,266	SH		SOLE		164,266	0	0
Infosys Ltd - ADR	SPONSORED ADR	456788108	2,332	217,962	SH		SOLE		217,962	0	0
International Paper Co Com US$1.00	COM	460146103	757	17,483	SH		SOLE		17,483	0	0
Intuit Inc Com US$0.01	COM	461202103	80,753	309,007	SH		SOLE		309,007	0	0
Johnson & Johnson Com US$1.00	COM	478160104	2,428	17,434	SH		SOLE		17,434	0	0
JP Morgan Chase Com US$1 (US quote)	COM	46625H100	117,935	1,054,874	SH		SOLE		1,054,874	0	0
Kinder Morgan Inc	COM	49456B101	688	32,960	SH		SOLE		32,960	0	0
Lockheed Martin Corp Com US$1.00	COM	539830109	85,787	235,976	SH		SOLE		235,976	0	0
Marsh & McLennan Cos Inc Com US$1.00	COM	571748102	42,003	421,086	SH		SOLE		421,086	0	0
Merck & Co Inc Com US$0.50	COM	58933Y105	1,362	16,240	SH		SOLE		16,240	0	0
Microsoft Corporation Com US$0.00000625	COM	594918104	190,476	1,421,890	SH		SOLE		1,421,890	0	0
New York Times Company Class 'A' Com US$0.10	CL A	650111107	803	24,605	SH		SOLE		24,605	0	0
Occidental Petroleum Corp Com US$0.20 USA (Regd)	COM	674599105	4,513	89,758	SH		SOLE		89,758	0	0
OGE Energy Corporation Com US$0.01	COM	670837103	994	23,366	SH		SOLE		23,366	0	0
ON Semiconductor US$0.01	COM	682189105	911	45,099	SH		SOLE		45,099	0	0
Paccar Inc US$1	COM	693718108	969	13,521	SH		SOLE		13,521	0	0
PayPal Holdings Inc Com US$0.0001	COM	70450Y103	1,715	14,985	SH		SOLE		14,985	0	0
Pfizer Inc Com US$0.05	COM	717081103	5,321	122,838	SH		SOLE		122,838	0	0
Philip Morris International Com	COM	718172109	1,081	13,767	SH		SOLE		13,767	0	0
Procter & Gamble Co Com	COM	742718109	1,702	15,520	SH		SOLE		15,520	0	0
Progressive Corp Com US$1	COM	743315103	1,288	16,116	SH		SOLE		16,116	0	0
Quanta Services, Inc	COM	74762E102	6,076	159,088	SH		SOLE		159,088	0	0
S&P Global Inc	COM	78409V104	10,439	45,827	SH		SOLE		45,827	0	0
Salesforce.com Inc Com US$0.001	COM	79466L302	102,878	678,032	SH		SOLE		678,032	0	0
Schlumberger Com US$0.01	COM	806857108	747	18,802	SH		SOLE		18,802	0	0
Southern Copper Corporation Com US$0.01	COM	84265V105	539	13,875	SH		SOLE		13,875	0	0
SPDR Gold Trust Shares	GOLD SHS	78463V107	2,111	15,845	SH		SOLE		15,845	0	0
Steel Dynamics Inc Com US$0.01	COM	858119100	680	22,516	SH		SOLE		22,516	0	0
Taiwan Semiconductor Manufacturing ADS Rep 5 Ord TW$10	SPONSORED ADS	874039100	769	19,640	SH		SOLE		19,640	0	0
TJX Cos Inc Com US$1	COM	872540109	1,294	24,476	SH		SOLE		24,476	0	0
Tyson Foods Incorporated Class 'A' Com US$0.10	CL A	902494103	925	11,453	SH		SOLE		11,453	0	0
Union Pacific Corporation Com US$2.50	COM	907818108	108,578	642,055	SH		SOLE		642,055	0	0
US Bancorp US$0.01	COM NEW	902973304	907	17,300	SH		SOLE		17,300	0	0
Verizon Communications Com US$0.10	COM	92343V104	6,131	107,316	SH		SOLE		107,316	0	0
Visa Inc Com Stock US$0.0001	COM CL A	92826C839	125,058	720,586	SH		SOLE		720,586	0	0
W R Berkley Corp Com US$0.20	COM	084423102	708	10,740	SH		SOLE		10,740	0	0
Walt Disney Company Disney Com US$0.01	COM DISNEY	254687106	2,046	14,650	SH		SOLE		14,650	0	0
Wells Fargo & Co Com US$1 2/3	COM	949746101	1,433	30,283	SH		SOLE		30,283	0	0