BOYD WATTERSON ASSET MANAGEMENT LLC/OH Q4 2025 Filing

Filed February 4, 2026

Portfolio Value

$346.4M

Holdings

421

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (421 positions)

#	Stock	Shares	Value	% Portfolio
1	SPYSPDR S & P 500 ETF Trust	36,352	$24.8M	7.16%
2	MSFTMicrosoft Corp	50,156	$24.3M	7.00%
3	GOOGLAlphabet Inc-CL A	62,789	$19.7M	5.67%
4	AVGOBroadcom Inc	48,394	$16.7M	4.84%
5	JPMJ P Morgan Chase	37,262	$12.0M	3.47%
6	LLYLilly (Eli) & Co	10,809	$11.6M	3.35%
7	AXPAmerican Express Co	27,762	$10.3M	2.96%
8	MDYSPDR S & P Midcap 400 ETF	13,936	$8.4M	2.43%
9	ETNEaton Corp PLC	26,125	$8.3M	2.40%
10	AAPLApple Inc	28,789	$7.8M	2.26%
11	AMZNAmazon.com Inc	32,951	$7.6M	2.20%
12	HONHoneywell International	34,450	$6.7M	1.94%
13	CATCaterpillar Inc	10,766	$6.2M	1.78%
14	XOMExxon Mobil Corp	47,396	$5.7M	1.65%
15	ABBVAbbvie Inc	24,149	$5.5M	1.59%
16	VVisa Inc Cl-A Shares	15,014	$5.3M	1.52%
17	GOOGAlphabet Inc-CL C	16,768	$5.3M	1.52%
18	VOOVanguard S&P 500 ETF	8,085	$5.1M	1.46%
19	PHParker Hannifin Corp	5,676	$5.0M	1.44%
20	JNJJohnson & Johnson	22,086	$4.6M	1.32%
21	TRVCCitigroup Inc	38,722	$4.5M	1.30%
22	NVDANVIDIA Corp	24,180	$4.5M	1.30%
23	IOOiShares S&P Global 100 Fd	34,698	$4.4M	1.27%
24	SHOPShopify Inc - Class A	26,686	$4.3M	1.24%
25	CRWDCrowdStrike Holdings Inc	8,533	$4.0M	1.15%
26	EEMiShares MSCI Emrg Mkt Indx	72,639	$4.0M	1.15%
27	MRKMerck & Company	35,207	$3.7M	1.07%
28	GSGoldman Sachs Group Inc	3,985	$3.5M	1.01%
29	EXPEExpedia Group Inc	11,345	$3.2M	0.93%
30	PGProcter & Gamble Co	21,953	$3.1M	0.91%
31	PEPPepsiCo Inc	21,417	$3.1M	0.89%
32	IJRiShares S&P SmallCap 600	23,850	$2.9M	0.83%
33	QCOMQualcomm Inc	16,681	$2.9M	0.82%
34	CVXChevron Corp	18,665	$2.8M	0.82%
35	CRMSalesforce Inc.	10,133	$2.7M	0.77%
36	LINLinde PLC	6,172	$2.6M	0.76%
37	SCHDSchwab US Dividend Equity ETF	90,178	$2.5M	0.71%
38	EMREmerson Electric Co	18,334	$2.4M	0.70%
39	EFAiShares MSCI EAFE Index Fd	25,045	$2.4M	0.69%
40	ABTAbbott Laboratories	19,130	$2.4M	0.69%
41	BMYBristol-Myers Squibb Co	42,766	$2.3M	0.67%
42	TMOThermo Fisher Corp	3,771	$2.2M	0.63%
43	AMDAdvanced Micro Devices	10,084	$2.2M	0.62%
44	IBMIBM Corp	6,709	$2.0M	0.57%
45	ORLYO'Reilly Automotive Inc	20,941	$1.9M	0.55%
46	BKNGBooking Holdings Inc.	318	$1.7M	0.49%
47	PAYCPaycom Software Inc	10,662	$1.7M	0.49%
48	KOCoca-Cola Co	23,336	$1.6M	0.47%
49	HDHome Depot Inc	4,440	$1.5M	0.44%
50	PSXPhillips 66	11,237	$1.4M	0.42%
51	TTTrane Technologies PLC	3,515	$1.4M	0.39%
52	NEENextera Energy Inc	16,752	$1.3M	0.39%
53	CMICummins Inc	2,599	$1.3M	0.38%
54	SCHWCharles Schwab Corp	12,970	$1.3M	0.37%
55	BDXBecton Dickinson & Co	6,677	$1.3M	0.37%
56	MRSHMarsh & McLennan Cos Inc	6,791	$1.3M	0.36%
57	NFLXNetflix Inc	12,990	$1.2M	0.35%
58	WMTWal Mart Inc.	10,521	$1.2M	0.34%
59	TXNTexas Instruments Inc	6,465	$1.1M	0.32%
60	COINCoinbase Global, Inc.	4,948	$1.1M	0.32%
61	CICigna Corp	4,003	$1.1M	0.32%
62	BRK/BBerkshire Hathaway Cl B	2,125	$1.1M	0.31%
63	UNHUnitedHealth Care Group	3,187	$1.1M	0.30%
64	MBBiShares MBS Bond ETF	10,956	$1.0M	0.30%
65	TRVTravelers Companies Inc	3,538	$1.0M	0.30%
66	RTXRTX Corp	5,039	$924K	0.27%
67	JAAAJanus AAA CLO	18,000	$910K	0.26%
68	BABoeing Co	4,152	$901K	0.26%
69	SYFSynchrony Financial	10,568	$881K	0.25%
70	METAMeta Platforms Inc.	1,331	$878K	0.25%
71	VUGVanguard Growth ETF	1,769	$863K	0.25%
72	REGNRegeneron Pharmaceuticals	1,072	$827K	0.24%
73	DYHTarget Corp	8,332	$814K	0.23%
74	DHRDanaher Corp	3,545	$811K	0.23%
75	CSCOCisco Systems Inc	10,347	$797K	0.23%
76	KMBKimberly Clark Corp	7,718	$778K	0.22%
77	PFFiShares Preferred & Income Sec ETF	24,961	$772K	0.22%
78	TJXTJX Companies Inc	5,000	$768K	0.22%
79	MASMasco Corp	12,101	$767K	0.22%
80	DNPDNP Select Income Fund Inc	74,166	$740K	0.21%
81	IJHiShares S&P Midcap 400	10,697	$706K	0.20%
82	GEVGE Vernova LLC	1,061	$693K	0.20%
83	IEFiShares 7-10 Year Treasury Bond ETF	7,168	$689K	0.20%
84	ZBRAZebra Technologies Corp Cl	2,678	$650K	0.19%
85	APDAir Products & Chemicals	2,630	$649K	0.19%
86	USBUS Bancorp	12,085	$644K	0.19%
87	PYPLPayPal Holdings Inc	10,965	$640K	0.18%
88	TSLATESLA Inc	1,410	$634K	0.18%
89	IGIBIShares 5-10 Year Investment Grade Corp	11,722	$631K	0.18%
90	SHELShell PLC - ADR	8,526	$626K	0.18%
91	MAMastercard Inc	1,096	$625K	0.18%
92	DELLDell Technologies C	4,961	$624K	0.18%
93	PPGPPG Industries Inc	6,024	$617K	0.18%
94	CARRCarrier Global	11,114	$587K	0.17%
95	AGGiShares Barclays Agg Bond	5,845	$583K	0.17%
96	BACBank of America Corp	10,599	$582K	0.17%
97	WFCWells Fargo & Co	6,193	$577K	0.17%
98	MCKMcKesson Corp W/RTS	663	$543K	0.16%
99	SPTISPDR Interm TSY ETF	18,727	$540K	0.16%
100	LOWLowe's Companies Inc	2,170	$523K	0.15%

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