Matrix Asset Advisors

Q4 2018 13F · by David Katz, CIO

As of: Dec 31, 2018
Filed: Feb 8, 2019
US stock: $539M · prev $627M
Positions: 69 · 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

+4.7 pp in · −4.6 pp out

New 6 +1.19 pp
Added 31 +3.46 pp
Trimmed 24 −4.60 pp
Exited 1 −0.03 pp

The book

Focused · behaves like 38 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 23% a year, about 4.4 years per position

Low
Moderate
High

Top 5 positions22% of US stock

JPM JPMorgan Chase & Co. trimmed+0.02 pp trimmed+0.025.0%
MSFT Microsoft Corp added+0.15 pp added+0.154.5%
ABBV Abbvie Inc. trimmed+0.50 pp trimmed+0.504.2%
CSCO Cisco Systems, Inc. (DE) trimmed−0.05 pp trimmed−0.054.1%
WFC Wells Fargo & Co. added+0.21 pp added+0.214.1%

Positions69 in this filing · 1 exited


JPMJPMorgan Chase & Co.	4.96%	273,786	$27M	trimmed−0%	+0.02 pp	23 q
MSFTMicrosoft Corp	4.52%	239,419	$24M	added0%	+0.15 pp	23 q
ABBVAbbvie Inc.	4.24%	247,626	$23M	trimmed−0%	+0.50 pp	13 q
CSCOCisco Systems, Inc. (DE)	4.06%	504,642	$22M	trimmed−5%	−0.05 pp	23 q
WFCWells Fargo & Co.	4.06%	475,082	$22M	added+3%	+0.21 pp	23 q
ETNEaton Corporation, plc	3.80%	297,935	$20M	added+1%	−0.29 pp	20 q
QCOMQualcomm Inc	3.79%	358,933	$20M	added+7%	−0.07 pp	22 q
PEPPepsiCo, Inc.	3.58%	174,441	$19M	added+4%	+0.59 pp	23 q
METMetLife, Inc.	3.30%	432,849	$18M	added+2%	+0.13 pp	23 q
GILDGilead Sciences Inc	3.27%	281,840	$18M	added+1%	−0.16 pp	19 q
BBTTruist Financial Corporation	2.88%	357,630	$15M	added+5%	+0.25 pp	23 q
OXYOccidental Petroleum Corporation	2.77%	242,644	$15M	added+4%	−0.29 pp	23 q
UTXZRTX Corporation	2.70%	136,611	$15M	added+1%	−0.33 pp	23 q
GOOGAlphabet Inc. Class C	2.51%	13,069	$14M	trimmed−1%	0.00 pp	11 q
0VQJLTe Connectivity Ltd	2.12%	150,642	$11M	trimmed−1%	−0.02 pp	23 q
TMOThermo Fisher Scientific, Inc.	2.08%	49,980	$11M	trimmed−6%	+0.02 pp	23 q
CMCSAComcast Corp	2.06%	325,808	$11M	trimmed−3%	+0.17 pp	13 q
STTState Street Corporation	2.05%	174,946	$11M	added+90%	+0.82 pp	23 q
MSMorgan Stanley	1.92%	261,107	$10M	added+59%	+0.70 pp	23 q
ZBHZimmer Biomet Holdings, Inc.	1.91%	99,335	$10M	trimmed−1%	−0.20 pp	23 q
CVSCvs Health Corporation	1.84%	151,398	$10M	trimmed−0%	−0.07 pp	23 q
PGProcter & Gamble Company	1.83%	107,305	$10M	trimmed−54%	−1.24 pp	23 q
VZVerizon Communications	1.77%	169,203	$10M	trimmed−6%	+0.24 pp	21 q
TAT&T Inc.	1.73%	326,140	$9M	added+11%	+0.16 pp	23 q
PFEPfizer Inc.	1.69%	208,672	$9M	trimmed−11%	+0.05 pp	23 q
KMBKimberly-Clark Corp.	1.65%	78,168	$9M	added+4%	+0.28 pp	23 q
unresolvedCBS Corp	1.62%	199,754	$9M	added+13%	0.00 pp	5 q
MRKMerck & Co., Inc.	1.60%	112,752	$9M	trimmed−21%	−0.01 pp	23 q
RDS.BRoyal Dutch Shell PLC	1.58%	141,975	$9M	added+2%	0.00 pp	23 q
UPSUnited Parcel Service, Inc. Class B	1.58%	87,296	$9M	added+4%	+0.02 pp	23 q
MDLZMondelez International, Inc. Class A	1.56%	210,426	$8M	added+7%	+0.21 pp	11 q
COFCapital One Financial	1.55%	110,241	$8M	trimmed−2%	−0.15 pp	23 q
GISGeneral Mills, Inc.	1.35%	186,090	$7M	added+8%	+0.17 pp	23 q
VIABViacom Inc. Class B	1.31%	275,239	$7M	added+3%	−0.13 pp	15 q
EBAYeBay Inc	1.30%	248,718	$7M	added×2.2	+0.71 pp	2 q
CVXChevron Corporation	1.28%	63,232	$7M	trimmed−45%	−0.95 pp	23 q
CBChubb Limited	1.23%	51,401	$7M	trimmed−33%	−0.39 pp	12 q
JNJJohnson & Johnson	1.14%	47,604	$6M	added+1%	+0.10 pp	23 q
XOMExxon Mobil Corp	1.12%	88,623	$6M	trimmed−4%	−0.13 pp	23 q
SLBSLB Limited	1.09%	162,340	$6M	trimmed−20%	−0.88 pp	23 q
AAPLApple Inc.	1.07%	36,614	$6M	added+2%	−0.22 pp	22 q
IEZiShares U.S. Oil Equipment & Services ETF	0.92%	242,964	$5M	new	+0.92 pp	new
SYMCGen Digital Inc.	0.81%	229,857	$4M	added+10%	+0.10 pp	4 q
GSGoldman Sachs Group Inc.	0.80%	25,839	$4M	trimmed−44%	−0.85 pp	9 q
DVNDevon Energy Corporation	0.76%	181,027	$4M	trimmed−3%	−0.42 pp	23 q
METAMeta Platforms, Inc. Class A	0.76%	31,265	$4M	added+75%	+0.29 pp	2 q
IBMInternational Business Machines Corporation	0.63%	30,024	$3M	trimmed−3%	−0.12 pp	23 q
AXPAmerican Express Company	0.34%	19,272	$2M	trimmed−24%	−0.09 pp	23 q
KOCoca-Cola Company	0.34%	38,322	$2M	added0%	+0.06 pp	23 q
BMYBristol-Myers Squibb Co.	0.15%	15,234	$792,000	trimmed−12%	−0.02 pp	6 q
IWBiShares Russell 1000 ETF	0.12%	4,668	$647,000	new	+0.12 pp	new
MDYState Street SPDR S&P MIDCAP 400 ETF Trust	0.12%	2,167	$656,000	held	—	20 q
BRK.BBERKSHIRE HATHAWAY Class B	0.09%	2,323	$474,000	added+5%	+0.01 pp	23 q
EFGiShares MSCI EAFE Growth ETF	0.09%	7,253	$501,000	held	—	13 q
IVViShares Core S&P 500 ETF	0.07%	1,492	$375,000	added+3%	0.00 pp	3 q
IWMiShares Russell 2000 ETF	0.07%	2,689	$360,000	added+2%	0.00 pp	16 q
WMTWalmart Inc.	0.06%	3,500	$326,000	held	—	23 q
AFLAflac Inc.	0.05%	6,201	$283,000	held	—	23 q
BABoeing Company	0.05%	896	$289,000	held	—	5 q
SDYState Street SPDR S&P Dividend ETF	0.05%	3,105	$278,000	added0%	0.00 pp	3 q
AMZNAmazon.Com Inc	0.04%	156	$234,000	new	+0.04 pp	new
DISThe Walt Disney Company	0.04%	1,962	$215,000	new	+0.04 pp	new
EFAiShares MSCI EAFE ETF	0.04%	3,820	$225,000	new	+0.04 pp	new
CGENCompugen Ltd	0.04%	104,500	$227,000	added+21%	−0.01 pp	21 q
unresolvedPimco NY Municipal Income Fd	0.03%	11,550	$135,000	new	+0.03 pp	new
SRNESorrento Therapeutics Inc	0.03%	60,000	$144,000	held	—	22 q
unresolvedGeneral Electric Co	0.02%	13,545	$103,000	trimmed−30%	−0.01 pp	23 q
PSDVEyepoint Pharmaceuticals Inc	0.01%	28,500	$54,000	held	—	3 q
unresolvedCinedigm Corp	0.00%	12,365	$7,000	held	—	5 q
MMM3M Company	—	−1,005	—	exited	−0.03 pp	—