Matrix Asset Advisors

Q1 2017 13F · by David Katz, CIO

As of: Mar 31, 2017
Filed: May 10, 2017
US stock: $569M · prev $590M
Positions: 67 · prev 75
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves63 since the prior filing

+4.7 pp in · −4.6 pp out

New 1 +0.04 pp
Added 23 +4.62 pp
Trimmed 30 −1.19 pp
Exited 9 −3.44 pp

The book

Focused · behaves like 38 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 14% a year, about 7.2 years per position

Low
Moderate
High

Top 5 positions22% of US stock

JPM JPMorgan Chase & Co. trimmed−0.19 pp trimmed−0.194.9%
WFC Wells Fargo & Co. trimmed+0.03 pp trimmed+0.034.6%
MSFT Microsoft Corp trimmed+0.18 pp trimmed+0.184.1%
ETN Eaton Corporation, plc trimmed+0.40 pp trimmed+0.404.0%
MET MetLife, Inc. trimmed−0.08 pp trimmed−0.084.0%

Positions67 in this filing · 9 exited


JPMJPMorgan Chase & Co.	4.86%	314,979	$28M	trimmed−9%	−0.19 pp	16 q
WFCWells Fargo & Co.	4.60%	470,614	$26M	trimmed−4%	+0.03 pp	16 q
MSFTMicrosoft Corp	4.12%	356,164	$23M	trimmed−5%	+0.18 pp	16 q
ETNEaton Corporation, plc	4.05%	310,999	$23M	trimmed−3%	+0.40 pp	13 q
METMetLife, Inc.	3.98%	428,827	$23M	trimmed−4%	−0.08 pp	16 q
CSCOCisco Systems, Inc. (DE)	3.56%	600,180	$20M	trimmed−5%	+0.33 pp	16 q
CVSCvs Health Corporation	3.48%	252,182	$20M	added+45%	+1.16 pp	16 q
PGProcter & Gamble Company	3.33%	211,020	$19M	trimmed−5%	+0.18 pp	16 q
UTXZRTX Corporation	3.08%	156,482	$18M	trimmed−2%	+0.10 pp	16 q
ABBVAbbvie Inc.	3.00%	261,991	$17M	trimmed−0%	+0.21 pp	6 q
PEPPepsiCo, Inc.	2.88%	146,580	$16M	added+8%	+0.48 pp	16 q
QCOMQualcomm Inc	2.80%	277,886	$16M	trimmed−1%	−0.31 pp	15 q
CVXChevron Corporation	2.76%	146,579	$16M	trimmed−3%	−0.25 pp	16 q
GILDGilead Sciences Inc	2.56%	214,695	$15M	added+8%	+0.16 pp	12 q
ZBHZimmer Biomet Holdings, Inc.	2.50%	116,554	$14M	trimmed−12%	+0.19 pp	16 q
OXYOccidental Petroleum Corporation	2.37%	212,899	$13M	added+9%	+0.01 pp	16 q
0VQJLTe Connectivity Ltd	2.35%	179,628	$13M	trimmed−21%	−0.31 pp	16 q
BBTTruist Financial Corporation	2.33%	297,071	$13M	trimmed−2%	−0.08 pp	16 q
JCIJohnson Controls International plc	2.29%	309,725	$13M	added+4%	+0.22 pp	3 q
CBChubb Limited	2.15%	89,681	$12M	added+8%	+0.30 pp	5 q
GOOGAlphabet Inc. Class C	2.12%	14,547	$12M	added+16%	+0.47 pp	4 q
COFCapital One Financial	1.99%	130,719	$11M	trimmed−7%	−0.09 pp	16 q
SLBSLB Limited	1.94%	141,421	$11M	trimmed−8%	−0.24 pp	16 q
TMOThermo Fisher Scientific, Inc.	1.89%	70,097	$11M	trimmed−5%	+0.13 pp	16 q
HOGHarley-Davidson, Inc.	1.85%	173,785	$11M	trimmed−8%	−0.02 pp	8 q
DVNDevon Energy Corporation	1.61%	219,520	$9M	trimmed−3%	−0.14 pp	16 q
MRKMerck & Co., Inc.	1.57%	140,565	$9M	added+8%	+0.28 pp	16 q
AXPAmerican Express Company	1.52%	109,023	$9M	trimmed−9%	+0.01 pp	16 q
VIABViacom Inc. Class B	1.50%	183,340	$9M	added+5%	+0.46 pp	8 q
STTState Street Corporation	1.41%	100,599	$8M	trimmed−6%	0.00 pp	16 q
MSMorgan Stanley	1.40%	185,831	$8M	trimmed−32%	−0.54 pp	16 q
COPConocoPhillips	1.38%	157,224	$8M	trimmed−5%	−0.03 pp	16 q
VZVerizon Communications	1.38%	160,878	$8M	added+6%	+0.01 pp	14 q
PFEPfizer Inc.	1.36%	225,573	$8M	added+10%	+0.23 pp	16 q
RDS.BRoyal Dutch Shell PLC	1.26%	128,586	$7M	added+6%	+0.07 pp	16 q
KMBKimberly-Clark Corp.	1.21%	52,377	$7M	added+5%	+0.24 pp	16 q
UPSUnited Parcel Service, Inc. Class B	1.21%	64,177	$7M	added+20%	+0.17 pp	16 q
TAT&T Inc.	1.19%	163,131	$7M	added+8%	+0.10 pp	16 q
XOMExxon Mobil Corp	1.18%	81,725	$7M	added+5%	−0.01 pp	16 q
GISGeneral Mills, Inc.	1.15%	110,563	$7M	added+14%	+0.13 pp	16 q
JNJJohnson & Johnson	1.14%	52,120	$6M	added+6%	+0.18 pp	16 q
AAPLApple Inc.	1.00%	39,698	$6M	trimmed−10%	+0.14 pp	15 q
SYMCGen Digital Inc.	0.95%	175,845	$5M	trimmed−46%	−0.38 pp	12 q
TGTTarget Corporation	0.87%	89,981	$5M	added+7%	−0.16 pp	12 q
MCDMcDonald's Corporation	0.72%	31,572	$4M	trimmed−39%	−0.35 pp	16 q
KOCoca-Cola Company	0.56%	75,142	$3M	added+12%	+0.09 pp	16 q
IBMInternational Business Machines Corporation	0.52%	17,132	$3M	trimmed−17%	−0.06 pp	16 q
unresolvedGeneral Electric Co	0.19%	36,232	$1M	trimmed−14%	−0.03 pp	16 q
MDYState Street SPDR S&P MIDCAP 400 ETF Trust	0.12%	2,228	$696,000	added0%	+0.01 pp	13 q
CMCSAComcast Corp	0.11%	16,766	$630,000	added0%	+0.01 pp	6 q
EFGiShares MSCI EAFE Growth ETF	0.09%	7,025	$488,000	held	—	6 q
IWMiShares Russell 2000 ETF	0.07%	2,725	$375,000	trimmed−0%	+0.01 pp	9 q
BRK.BBERKSHIRE HATHAWAY Class B	0.06%	2,095	$349,000	added+10%	+0.01 pp	16 q
MMM3M Company	0.06%	1,650	$316,000	held	—	6 q
WMTWalmart Inc.	0.06%	5,020	$362,000	trimmed−5%	0.00 pp	16 q
CGENCompugen Ltd	0.06%	85,500	$368,000	held	—	14 q
AFLAflac Inc.	0.05%	3,895	$282,000	held	—	16 q
KHCThe Kraft Heinz Company	0.05%	2,838	$258,000	held	—	6 q
CLColgate-Palmolive Company	0.04%	2,775	$203,000	new	+0.04 pp	new
GSGoldman Sachs Group Inc.	0.04%	976	$224,000	held	—	2 q
MDLZMondelez International, Inc. Class A	0.04%	4,724	$204,000	held	—	4 q
SRNESorrento Therapeutics Inc	0.02%	22,000	$87,000	held	—	15 q
unresolvedTiger X Medical Inc.	0.02%	226,071	$102,000	held	—	13 q
unresolvedPsivida Corp	0.01%	26,500	$46,000	held	—	16 q
unresolvedCinedigm Corp	0.00%	12,365	$19,000	held	—	6 q
unresolvedEnvironmental Energy Service	0.00%	10,000	$0	held	—	16 q
APMRFAmper SA Madrid	0.00%	77,664	$25,000	held	—	14 q
TEVATeva Pharmaceutical Industries Limited	—	−261,000	—	exited	−1.60 pp	—
SCHWThe Charles Schwab Corporation	—	−186,596	—	exited	−1.25 pp	—
TWXTime Warner Inc	—	−8,331	—	exited	−0.14 pp	—
BLQADBlackrock Inc	—	−1,642	—	exited	−0.11 pp	—
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	—	−4,043	—	exited	−0.11 pp	—
AMGNAmgen Inc	—	−3,924	—	exited	−0.10 pp	—
VFCV.F. Corporation	—	−5,136	—	exited	−0.05 pp	—
ABTAbbott Laboratories	—	−6,125	—	exited	−0.04 pp	—
HONHoneywell International, Inc.	—	−2,150	—	exited	−0.04 pp	—

Source

Form: 13F-HR
Reading: 4 defects · 5 unresolved
Accession: 0001140361-17-019295
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

A security outside the official 13F list — CUSIP 172406100 not on the Official 13(f) List for 2017-03-31
A security outside the official 13F list — CUSIP 29406Q101 not on the Official 13(f) List for 2017-03-31
A security outside the official 13F list — CUSIP 88677A104 not on the Official 13(f) List for 2017-03-31
A security outside the official 13F list — CUSIP E04600198 not on the Official 13(f) List for 2017-03-31

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