Matrix Asset Advisors

Q2 2018 13F · by David Katz, CIO

As of: Jun 30, 2018
Filed: Aug 8, 2018
US stock: $606M · prev $606M
Positions: 65 · prev 64
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%

Moves62 since the prior filing

+4.4 pp in · −4.4 pp out

New 4 +0.45 pp
Added 22 +3.98 pp
Trimmed 33 −1.62 pp
Exited 3 −2.76 pp

The book

Focused · behaves like 38 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 19% a year, about 5.4 years per position

Low
Moderate
High

Top 5 positions22% of US stock

Positions65 in this filing · 3 exited


JPMJPMorgan Chase & Co.	4.94%	287,364	$30M	trimmed−2%	−0.37 pp	21 q
MSFTMicrosoft Corp	4.74%	291,157	$29M	trimmed−8%	−0.01 pp	21 q
WFCWells Fargo & Co.	4.26%	465,829	$26M	trimmed−1%	+0.20 pp	21 q
CSCOCisco Systems, Inc. (DE)	4.23%	595,735	$26M	trimmed−2%	−0.08 pp	21 q
ETNEaton Corporation, plc	3.82%	310,042	$23M	trimmed−1%	−0.30 pp	18 q
ABBVAbbvie Inc.	3.78%	247,428	$23M	trimmed−1%	−0.12 pp	11 q
QCOMQualcomm Inc	3.28%	353,953	$20M	added+6%	+0.22 pp	20 q
GILDGilead Sciences Inc	3.15%	269,322	$19M	added+8%	+0.05 pp	17 q
PEPPepsiCo, Inc.	3.10%	172,707	$19M	added+12%	+0.32 pp	21 q
PGProcter & Gamble Company	3.07%	238,298	$19M	added+4%	+0.08 pp	21 q
METMetLife, Inc.	3.03%	420,463	$18M	trimmed−1%	−0.20 pp	21 q
OXYOccidental Petroleum Corporation	2.92%	211,275	$18M	trimmed−3%	+0.59 pp	21 q
UTXZRTX Corporation	2.92%	141,412	$18M	trimmed−2%	−0.06 pp	21 q
BBTTruist Financial Corporation	2.67%	320,273	$16M	trimmed−1%	−0.11 pp	21 q
CVXChevron Corporation	2.48%	119,092	$15M	trimmed−7%	+0.07 pp	21 q
GOOGAlphabet Inc. Class C	2.44%	13,226	$15M	trimmed−3%	+0.12 pp	9 q
0VQJLTe Connectivity Ltd	2.34%	157,562	$14M	trimmed−2%	−0.32 pp	21 q
SLBSLB Limited	2.07%	187,241	$13M	added+1%	+0.09 pp	21 q
TMOThermo Fisher Scientific, Inc.	2.07%	60,431	$13M	trimmed−3%	−0.06 pp	21 q
ZBHZimmer Biomet Holdings, Inc.	2.02%	110,085	$12M	trimmed−2%	0.00 pp	21 q
COFCapital One Financial	1.81%	119,516	$11M	trimmed−2%	−0.12 pp	21 q
MRKMerck & Co., Inc.	1.78%	177,360	$11M	trimmed−1%	+0.18 pp	21 q
RDS.BRoyal Dutch Shell PLC	1.73%	144,081	$10M	trimmed−1%	+0.16 pp	21 q
CVSCvs Health Corporation	1.71%	161,026	$10M	added+6%	+0.15 pp	21 q
CBChubb Limited	1.67%	79,780	$10M	trimmed−3%	−0.18 pp	10 q
CMCSAComcast Corp	1.66%	306,264	$10M	added×21.2	+1.58 pp	11 q
GSGoldman Sachs Group Inc.	1.58%	43,378	$10M	added+42%	+0.31 pp	7 q
VZVerizon Communications	1.57%	189,586	$10M	added0%	+0.08 pp	19 q
UPSUnited Parcel Service, Inc. Class B	1.54%	88,132	$9M	trimmed−0%	+0.02 pp	21 q
unresolvedCBS Corp	1.49%	160,384	$9M	added+42%	+0.53 pp	3 q
PFEPfizer Inc.	1.49%	248,689	$9M	trimmed−1%	+0.02 pp	21 q
MDLZMondelez International, Inc. Class A	1.38%	203,465	$8M	added+13%	+0.14 pp	9 q
DVNDevon Energy Corporation	1.36%	187,495	$8M	trimmed−3%	+0.35 pp	21 q
VIABViacom Inc. Class B	1.34%	268,894	$8M	trimmed−0%	−0.04 pp	13 q
XOMExxon Mobil Corp	1.32%	96,721	$8M	added+11%	+0.24 pp	21 q
KMBKimberly-Clark Corp.	1.31%	75,193	$8M	added+14%	+0.11 pp	21 q
MSMorgan Stanley	1.31%	167,680	$8M	trimmed−2%	−0.21 pp	21 q
TAT&T Inc.	1.24%	234,910	$8M	added+9%	−0.03 pp	21 q
AXPAmerican Express Company	1.23%	76,064	$7M	trimmed−2%	+0.03 pp	21 q
GISGeneral Mills, Inc.	1.13%	154,084	$7M	added+10%	+0.09 pp	21 q
AAPLApple Inc.	1.11%	36,311	$7M	added+1%	+0.12 pp	20 q
COPConocoPhillips	1.06%	92,278	$6M	trimmed−33%	−0.29 pp	21 q
JNJJohnson & Johnson	1.00%	50,135	$6M	added+1%	−0.05 pp	21 q
TGTTarget Corporation	0.91%	72,357	$6M	trimmed−33%	−0.32 pp	17 q
STTState Street Corporation	0.57%	37,224	$3M	trimmed−4%	−0.06 pp	21 q
IBMInternational Business Machines Corporation	0.52%	22,506	$3M	added+3%	−0.03 pp	21 q
DUKDuke Energy Corporation	0.35%	27,196	$2M	new	+0.35 pp	new
KOCoca-Cola Company	0.28%	38,530	$2M	trimmed−62%	−0.45 pp	21 q
SYMCGen Digital Inc.	0.26%	75,161	$2M	added+3%	−0.05 pp	2 q
BMYBristol-Myers Squibb Co.	0.16%	17,239	$954,000	trimmed−4%	−0.03 pp	4 q
MDYState Street SPDR S&P MIDCAP 400 ETF Trust	0.13%	2,196	$780,000	trimmed−4%	0.00 pp	18 q
EFGiShares MSCI EAFE Growth ETF	0.09%	7,240	$571,000	held	—	11 q
BRK.BBERKSHIRE HATHAWAY Class B	0.07%	2,205	$412,000	added+1%	0.00 pp	21 q
IWMiShares Russell 2000 ETF	0.07%	2,658	$435,000	added+1%	0.00 pp	14 q
SRNESorrento Therapeutics Inc	0.07%	60,000	$432,000	added+20%	+0.03 pp	20 q
BABoeing Company	0.05%	896	$301,000	held	—	3 q
unresolvedGeneral Electric Co	0.05%	20,517	$279,000	trimmed−31%	−0.02 pp	21 q
IVViShares Core S&P 500 ETF	0.05%	1,146	$313,000	new	+0.05 pp	new
WMTWalmart Inc.	0.05%	3,650	$313,000	held	—	21 q
CGENCompugen Ltd	0.05%	86,500	$285,000	held	—	19 q
AFLAflac Inc.	0.04%	6,201	$267,000	trimmed−6%	−0.01 pp	21 q
SDYState Street SPDR S&P Dividend ETF	0.04%	2,480	$230,000	new	+0.04 pp	new
KHCThe Kraft Heinz Company	0.03%	3,326	$209,000	held	—	11 q
PSDVEyepoint Pharmaceuticals Inc	0.01%	28,500	$59,000	new	+0.01 pp	new
unresolvedCinedigm Corp	0.00%	12,365	$19,000	held	—	3 q
JCIJohnson Controls International plc	—	−284,611	—	exited	−1.65 pp	—
HOGHarley-Davidson, Inc.	—	−151,054	—	exited	−1.07 pp	—
MMM3M Company	—	−1,005	—	exited	−0.04 pp	—