Matrix Asset Advisors

Q4 2017 13F · by David Katz, CIO

As of: Dec 31, 2017
Filed: Feb 13, 2018
US stock: $630M · prev $607M
Positions: 67 · prev 68
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%

Moves68 since the prior filing

+2.9 pp in · −2.9 pp out

New 4 +0.52 pp
Added 22 +2.35 pp
Trimmed 37 −2.80 pp
Exited 5 −0.06 pp

The book

Focused · behaves like 38 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 12% a year, about 8.6 years per position

Low
Moderate
High

Top 5 positions22% of US stock

Positions67 in this filing · 5 exited


JPMJPMorgan Chase & Co.	5.15%	303,568	$32M	trimmed−3%	+0.22 pp	19 q
MSFTMicrosoft Corp	4.65%	342,316	$29M	trimmed−2%	+0.35 pp	19 q
WFCWells Fargo & Co.	4.53%	470,471	$29M	trimmed−2%	+0.18 pp	19 q
ETNEaton Corporation, plc	3.92%	312,549	$25M	trimmed−1%	−0.06 pp	16 q
ABBVAbbvie Inc.	3.89%	253,472	$25M	trimmed−3%	+0.07 pp	9 q
CSCOCisco Systems, Inc. (DE)	3.80%	625,460	$24M	trimmed−3%	+0.24 pp	19 q
METMetLife, Inc.	3.44%	429,094	$22M	trimmed−2%	−0.30 pp	19 q
QCOMQualcomm Inc	3.29%	323,957	$21M	added+3%	+0.60 pp	18 q
UTXZRTX Corporation	3.17%	156,382	$20M	trimmed−2%	+0.12 pp	19 q
PGProcter & Gamble Company	3.10%	212,330	$20M	trimmed−0%	−0.09 pp	19 q
PEPPepsiCo, Inc.	2.80%	147,200	$18M	trimmed−0%	+0.09 pp	19 q
GILDGilead Sciences Inc	2.73%	239,715	$17M	added+7%	−0.25 pp	15 q
CVXChevron Corporation	2.58%	129,662	$16M	trimmed−11%	−0.24 pp	19 q
BBTTruist Financial Corporation	2.55%	323,731	$16M	trimmed−1%	+0.02 pp	19 q
OXYOccidental Petroleum Corporation	2.55%	217,879	$16M	trimmed−3%	+0.18 pp	19 q
0VQJLTe Connectivity Ltd	2.52%	167,371	$16M	trimmed−5%	+0.11 pp	19 q
GOOGAlphabet Inc. Class C	2.31%	13,903	$15M	trimmed−3%	+0.06 pp	7 q
ZBHZimmer Biomet Holdings, Inc.	2.21%	115,524	$14M	added+3%	+0.04 pp	19 q
SLBSLB Limited	2.04%	190,822	$13M	added+25%	+0.28 pp	19 q
COFCapital One Financial	2.01%	127,331	$13M	trimmed−3%	+0.18 pp	19 q
TMOThermo Fisher Scientific, Inc.	1.95%	64,640	$12M	trimmed−4%	−0.14 pp	19 q
CBChubb Limited	1.93%	83,128	$12M	trimmed−4%	−0.10 pp	8 q
CVSCvs Health Corporation	1.78%	154,821	$11M	trimmed−41%	−1.76 pp	19 q
JCIJohnson Controls International plc	1.72%	283,753	$11M	trimmed−5%	−0.26 pp	6 q
UPSUnited Parcel Service, Inc. Class B	1.63%	86,290	$10M	added+2%	−0.04 pp	19 q
VZVerizon Communications	1.56%	186,021	$10M	added+7%	+0.15 pp	17 q
MRKMerck & Co., Inc.	1.55%	173,101	$10M	added+17%	−0.01 pp	19 q
RDS.BRoyal Dutch Shell PLC	1.54%	141,710	$10M	added+2%	+0.11 pp	19 q
HOGHarley-Davidson, Inc.	1.51%	187,609	$10M	added+1%	+0.03 pp	11 q
MSMorgan Stanley	1.47%	176,217	$9M	trimmed−3%	+0.02 pp	19 q
PFEPfizer Inc.	1.42%	246,252	$9M	added+3%	+0.01 pp	19 q
AXPAmerican Express Company	1.36%	86,344	$9M	trimmed−19%	−0.22 pp	19 q
VIABViacom Inc. Class B	1.31%	268,499	$8M	added+11%	+0.20 pp	11 q
DVNDevon Energy Corporation	1.28%	194,597	$8M	trimmed−8%	+0.01 pp	19 q
GISGeneral Mills, Inc.	1.27%	135,211	$8M	added+2%	+0.14 pp	19 q
COPConocoPhillips	1.23%	141,134	$8M	trimmed−5%	0.00 pp	19 q
STTState Street Corporation	1.20%	77,501	$8M	trimmed−4%	−0.06 pp	19 q
MDLZMondelez International, Inc. Class A	1.16%	170,609	$7M	added×2.2	+0.63 pp	7 q
XOMExxon Mobil Corp	1.15%	86,522	$7M	added+1%	0.00 pp	19 q
KMBKimberly-Clark Corp.	1.12%	58,458	$7M	added+2%	+0.01 pp	19 q
TGTTarget Corporation	1.11%	106,989	$7M	added+14%	+0.20 pp	15 q
JNJJohnson & Johnson	1.09%	48,942	$7M	trimmed−2%	+0.02 pp	19 q
TAT&T Inc.	1.08%	174,582	$7M	trimmed−4%	−0.09 pp	19 q
AAPLApple Inc.	1.02%	38,149	$6M	trimmed−2%	+0.03 pp	18 q
KOCoca-Cola Company	0.73%	100,474	$5M	added+32%	+0.17 pp	19 q
IBMInternational Business Machines Corporation	0.53%	21,632	$3M	added+3%	+0.03 pp	19 q
WPPWpp PLC	0.48%	33,737	$3M	added+17%	+0.04 pp	2 q
unresolvedCBS Corp	0.45%	48,397	$3M	new	+0.45 pp	new
BMYBristol-Myers Squibb Co.	0.17%	17,964	$1M	trimmed−0%	−0.02 pp	2 q
MDYState Street SPDR S&P MIDCAP 400 ETF Trust	0.12%	2,261	$781,000	trimmed−2%	0.00 pp	16 q
CMCSAComcast Corp	0.11%	16,776	$672,000	added0%	0.00 pp	9 q
unresolvedGeneral Electric Co	0.10%	34,564	$603,000	trimmed−90%	−1.30 pp	19 q
EFGiShares MSCI EAFE Growth ETF	0.09%	7,025	$567,000	held	—	9 q
BRK.BBERKSHIRE HATHAWAY Class B	0.07%	2,180	$432,000	added+2%	+0.01 pp	19 q
IWMiShares Russell 2000 ETF	0.06%	2,640	$402,000	trimmed−3%	−0.01 pp	12 q
WMTWalmart Inc.	0.06%	3,900	$385,000	trimmed−6%	+0.01 pp	19 q
AFLAflac Inc.	0.05%	3,295	$289,000	held	—	19 q
BABoeing Company	0.04%	937	$276,000	new	+0.04 pp	new
GSGoldman Sachs Group Inc.	0.04%	1,026	$261,000	added+5%	0.00 pp	5 q
KHCThe Kraft Heinz Company	0.04%	3,326	$259,000	held	—	9 q
NVSNovartis AG	0.04%	2,729	$229,000	trimmed−18%	−0.01 pp	3 q
SRNESorrento Therapeutics Inc	0.04%	72,000	$274,000	held	—	18 q
MMM3M Company	0.04%	1,170	$275,000	trimmed−29%	−0.02 pp	9 q
CLColgate-Palmolive Company	0.03%	2,725	$206,000	new	+0.03 pp	new
CGENCompugen Ltd	0.03%	84,500	$211,000	trimmed−2%	−0.02 pp	17 q
unresolvedCinedigm Corp	0.00%	12,365	$19,000	new	0.00 pp	new
unresolvedPsivida Corp	0.00%	28,500	$31,000	trimmed−24%	−0.01 pp	19 q
unresolvedDDR Corporation	—	−24,000	—	exited	−0.04 pp	—
unresolvedTiger X Medical Inc.	—	−226,071	—	exited	−0.02 pp	—
unresolvedCinedigm Corp	—	−12,365	—	exited	0.00 pp	—
unresolvedEnvironmental Energy Service	—	−10,000	—	exited	0.00 pp	—
APMRFAmper SA Madrid	—	−77,664	—	exited	0.00 pp	—