Matrix Asset Advisors

Q3 2019 13F · by David Katz, CIO

As of: Sep 30, 2019
Filed: Nov 12, 2019
US stock: $565M · prev $564M
Positions: 75 · 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%

Moves66 since the prior filing

+5.7 pp in · −5.7 pp out

New 8 +0.34 pp
Added 21 +5.35 pp
Trimmed 36 −5.45 pp
Exited 1 −0.28 pp

The book

Focused · behaves like 38 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 25% a year, about 4.1 years per position

Low
Moderate
High

Top 5 positions22% of US stock

Positions75 in this filing · 1 exited


JPMJPMorgan Chase & Co.	5.15%	247,611	$29M	trimmed−1%	+0.18 pp	26 q
MSFTMicrosoft Corp	4.98%	202,606	$28M	trimmed−2%	+0.05 pp	26 q
WFCWells Fargo & Co.	4.18%	468,246	$24M	added+2%	+0.34 pp	26 q
ETNEaton Corporation, plc	3.96%	269,447	$22M	trimmed−1%	−0.05 pp	23 q
ABBVAbbvie Inc.	3.80%	284,050	$22M	added+20%	+0.76 pp	16 q
CSCOCisco Systems, Inc. (DE)	3.50%	400,812	$20M	added+15%	+0.12 pp	26 q
METMetLife, Inc.	3.36%	402,507	$19M	trimmed−1%	−0.21 pp	26 q
BBTTruist Financial Corporation	3.34%	354,219	$19M	trimmed−1%	+0.24 pp	26 q
QCOMQualcomm Inc	3.31%	245,518	$19M	trimmed−12%	−0.44 pp	25 q
GILDGilead Sciences Inc	3.27%	291,699	$18M	added+5%	−0.07 pp	22 q
CVSCvs Health Corporation	3.10%	277,909	$18M	added+11%	+0.68 pp	26 q
PEPPepsiCo, Inc.	2.37%	97,747	$13M	trimmed−12%	−0.22 pp	26 q
GOOGAlphabet Inc. Class C	2.34%	10,838	$13M	trimmed−2%	+0.22 pp	14 q
CMCSAComcast Corp	2.09%	261,544	$12M	trimmed−3%	+0.06 pp	16 q
OXYOccidental Petroleum Corporation	2.09%	265,469	$12M	added+18%	+0.08 pp	26 q
TMOThermo Fisher Scientific, Inc.	2.09%	40,515	$12M	trimmed−2%	−0.07 pp	26 q
0VQJLTe Connectivity Ltd	2.03%	123,099	$11M	trimmed−2%	−0.11 pp	26 q
TAT&T Inc.	1.99%	297,269	$11M	trimmed−18%	−0.15 pp	26 q
UPSUnited Parcel Service, Inc. Class B	1.99%	94,095	$11M	trimmed−11%	+0.06 pp	26 q
KELKellanova	1.95%	171,274	$11M	added×2.8	+1.37 pp	2 q
VZVerizon Communications	1.95%	182,597	$11M	added+6%	+0.21 pp	24 q
VIABViacom Inc. Class B	1.91%	450,482	$11M	added+67%	+0.48 pp	18 q
MSMorgan Stanley	1.85%	245,376	$10M	trimmed−2%	−0.09 pp	26 q
GISGeneral Mills, Inc.	1.81%	185,745	$10M	trimmed−1%	+0.07 pp	26 q
ZBHZimmer Biomet Holdings, Inc.	1.81%	74,657	$10M	trimmed−14%	0.00 pp	26 q
SLBSLB Limited	1.73%	286,574	$10M	added0%	−0.29 pp	26 q
GSGoldman Sachs Group Inc.	1.70%	46,324	$10M	trimmed−2%	−0.01 pp	12 q
HDHome Depot, Inc.	1.67%	40,737	$9M	added+11%	+0.32 pp	3 q
RDS.BRoyal Dutch Shell PLC	1.63%	153,514	$9M	added+7%	−0.04 pp	26 q
STTState Street Corporation	1.58%	151,175	$9M	trimmed−1%	+0.07 pp	26 q
COFCapital One Financial	1.57%	97,863	$9M	trimmed−2%	−0.04 pp	26 q
KMBKimberly-Clark Corp.	1.55%	61,868	$9M	trimmed−11%	−0.08 pp	26 q
MDLZMondelez International, Inc. Class A	1.52%	155,035	$9M	trimmed−8%	−0.09 pp	14 q
MRKMerck & Co., Inc.	1.49%	100,054	$8M	added+1%	+0.02 pp	26 q
PNCPNC Financial Services Group	1.45%	58,350	$8M	added×2.0	+0.75 pp	3 q
EBAYeBay Inc	1.40%	203,005	$8M	trimmed−3%	−0.06 pp	5 q
AAPLApple Inc.	1.30%	32,903	$7M	trimmed−2%	+0.12 pp	25 q
CVXChevron Corporation	1.13%	54,090	$6M	trimmed−2%	−0.09 pp	26 q
FDXFedEx Corporation	1.13%	44,057	$6M	added×2.1	+0.53 pp	2 q
UTXZRTX Corporation	1.09%	45,127	$6M	trimmed−56%	−1.27 pp	26 q
SYMCGen Digital Inc.	1.08%	258,139	$6M	trimmed−1%	+0.07 pp	7 q
JNJJohnson & Johnson	1.00%	43,603	$6M	trimmed−12%	−0.22 pp	26 q
XOMExxon Mobil Corp	0.92%	73,516	$5M	trimmed−3%	−0.11 pp	26 q
METAMeta Platforms, Inc. Class A	0.88%	27,816	$5M	trimmed−1%	−0.08 pp	5 q
IBMInternational Business Machines Corporation	0.78%	30,515	$4M	added+2%	+0.05 pp	26 q
DVNDevon Energy Corporation	0.70%	164,965	$4M	trimmed−2%	−0.15 pp	26 q
unresolvedCBS Corp	0.59%	82,356	$3M	trimmed−57%	−1.10 pp	8 q
PGProcter & Gamble Company	0.31%	14,178	$2M	trimmed−60%	−0.37 pp	26 q
IWBiShares Russell 1000 ETF	0.16%	5,545	$912,000	added+18%	+0.02 pp	4 q
IWMiShares Russell 2000 ETF	0.13%	4,876	$738,000	added+3%	0.00 pp	19 q
BMYBristol-Myers Squibb Co.	0.11%	12,305	$624,000	held	—	9 q
EFGiShares MSCI EAFE Growth ETF	0.10%	7,325	$590,000	held	—	16 q
BRK.BBERKSHIRE HATHAWAY Class B	0.09%	2,381	$495,000	added+1%	0.00 pp	26 q
IVViShares Core S&P 500 ETF	0.08%	1,587	$474,000	held	—	6 q
CGENCompugen Ltd	0.07%	94,500	$400,000	held	—	24 q
AFLAflac Inc.	0.06%	6,201	$324,000	held	—	26 q
AXPAmerican Express Company	0.06%	2,873	$340,000	held	—	26 q
BABoeing Company	0.06%	925	$352,000	trimmed−1%	0.00 pp	8 q
EFAiShares MSCI EAFE ETF	0.06%	5,356	$349,000	new	+0.06 pp	new
OPKOpko Health Inc.	0.06%	150,000	$314,000	added+50%	+0.02 pp	2 q
SDYState Street SPDR S&P Dividend ETF	0.06%	3,109	$319,000	added0%	0.00 pp	6 q
AMZNAmazon.Com Inc	0.05%	178	$309,000	trimmed−1%	−0.01 pp	4 q
WMTWalmart Inc.	0.05%	2,300	$273,000	trimmed−34%	−0.02 pp	26 q
SHYiShares 1-3 Year Treasury Bond ETF	0.04%	2,960	$251,000	new	+0.04 pp	new
SHViShares Trust iShares 0-1 Year Treasury Bond ETF	0.04%	1,990	$220,000	new	+0.04 pp	new
ISTBiShares Core 1-5 Year USD Bond ETF of iShares Trust	0.04%	4,699	$237,000	new	+0.04 pp	new
IEMGiShares Core MSCI Emerging Markets ETF	0.04%	4,707	$231,000	new	+0.04 pp	new
PFEPfizer Inc.	0.04%	5,646	$203,000	trimmed−97%	−1.55 pp	26 q
VIGVanguard Dividend Appreciation ETF	0.04%	1,703	$204,000	new	+0.04 pp	new
BSVVanguard Short-Term Bond ETF	0.04%	3,008	$243,000	new	+0.04 pp	new
VUGVanguard Morningstar Growth ETF	0.04%	1,317	$219,000	new	+0.04 pp	new
SRNESorrento Therapeutics Inc	0.02%	60,000	$128,000	held	—	25 q
PSDVEyepoint Pharmaceuticals Inc	0.01%	26,500	$48,000	held	—	6 q
ASNAAscena Retail Group Inc	0.00%	33,262	$9,000	held	—	3 q
unresolvedCinedigm Corp	0.00%	12,365	$11,000	held	—	8 q
MDYState Street SPDR S&P MIDCAP 400 ETF Trust	—	−4,529	—	exited	−0.28 pp	—