Matrix Asset Advisors

Q1 2020 13F · by David Katz, CIO

As of: Mar 31, 2020
Filed: May 11, 2020
US stock: $439M · prev $613M
Positions: 70 · prev 76
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%

Moves73 since the prior filing

+7.2 pp in · −7.2 pp out

New 3 +1.84 pp
Added 26 +5.40 pp
Trimmed 35 −3.45 pp
Exited 9 −3.78 pp

The book

Focused · behaves like 34 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 31% a year, about 3.3 years per position

Low
Moderate
High

Top 5 positions25% of US stock

Positions70 in this filing · 9 exited


MSFTMicrosoft Corp	6.60%	184,013	$29M	trimmed−9%	+1.42 pp	28 q
GILDGilead Sciences Inc	4.98%	292,780	$22M	trimmed−9%	+1.55 pp	24 q
JPMJPMorgan Chase & Co.	4.75%	231,622	$21M	trimmed−5%	−0.78 pp	28 q
ABBVAbbvie Inc.	4.66%	268,788	$20M	trimmed−5%	+0.57 pp	18 q
CVSCvs Health Corporation	4.44%	328,865	$20M	added+10%	+0.80 pp	28 q
KELKellanova	4.44%	325,539	$20M	added+72%	+2.30 pp	4 q
CSCOCisco Systems, Inc. (DE)	4.32%	482,663	$19M	added+2%	+0.60 pp	28 q
WFCWells Fargo & Co.	3.38%	517,449	$15M	added+9%	−0.78 pp	28 q
METMetLife, Inc.	2.66%	381,711	$12M	trimmed−5%	−0.70 pp	28 q
GOOGAlphabet Inc. Class C	2.60%	9,840	$11M	trimmed−7%	+0.28 pp	16 q
ETNEaton Corporation, plc	2.60%	147,212	$11M	trimmed−45%	−1.51 pp	25 q
QCOMQualcomm Inc	2.47%	160,731	$11M	trimmed−1%	+0.12 pp	27 q
TFCTruist Financial Corporation	2.41%	342,824	$11M	trimmed−4%	−0.86 pp	28 q
VZVerizon Communications	2.28%	186,313	$10M	added0%	+0.42 pp	26 q
TMOThermo Fisher Scientific, Inc.	2.11%	32,741	$9M	trimmed−15%	+0.08 pp	28 q
TAT&T Inc.	2.09%	315,032	$9M	added+3%	+0.14 pp	28 q
MRKMerck & Co., Inc.	2.07%	118,009	$9M	added+17%	+0.57 pp	28 q
KMBKimberly-Clark Corp.	2.02%	69,514	$9M	trimmed−6%	+0.37 pp	28 q
EBAYeBay Inc	2.01%	293,965	$9M	added0%	+0.28 pp	7 q
CMCSAComcast Corp	1.93%	246,536	$8M	trimmed−5%	+0.03 pp	18 q
HDHome Depot, Inc.	1.92%	45,293	$8M	trimmed−7%	+0.19 pp	5 q
GISGeneral Mills, Inc.	1.89%	157,319	$8M	trimmed−19%	+0.19 pp	28 q
PEPPepsiCo, Inc.	1.78%	64,959	$8M	trimmed−33%	−0.37 pp	28 q
AAPLApple Inc.	1.77%	30,669	$8M	trimmed−4%	+0.24 pp	27 q
MSMorgan Stanley	1.75%	225,850	$8M	trimmed−6%	−0.26 pp	28 q
UPSUnited Parcel Service, Inc. Class B	1.72%	81,112	$8M	added+19%	+0.41 pp	28 q
ZBHZimmer Biomet Holdings, Inc.	1.71%	74,155	$7M	added+1%	−0.08 pp	28 q
METAMeta Platforms, Inc. Class A	1.69%	44,420	$7M	added+61%	+0.77 pp	7 q
MDLZMondelez International, Inc. Class A	1.68%	147,567	$7M	trimmed−7%	+0.26 pp	16 q
STTState Street Corporation	1.67%	137,440	$7M	trimmed−6%	−0.22 pp	28 q
CVXChevron Corporation	1.60%	96,943	$7M	added+87%	+0.58 pp	28 q
PARAParamount Global-class B	1.56%	488,912	$7M	added+39%	−0.85 pp	2 q
GSGoldman Sachs Group Inc.	1.54%	43,707	$7M	trimmed−7%	−0.22 pp	14 q
FDXFedEx Corporation	1.52%	55,033	$7M	added+6%	+0.23 pp	4 q
PNCPNC Financial Services Group	1.40%	64,051	$6M	added+7%	−0.16 pp	5 q
0VQJLTe Connectivity Ltd	1.39%	96,994	$6M	trimmed−19%	−0.49 pp	28 q
XOMExxon Mobil Corp	1.17%	135,351	$5M	added+78%	+0.30 pp	28 q
COFCapital One Financial	1.01%	87,881	$4M	trimmed−7%	−0.58 pp	28 q
IBMInternational Business Machines Corporation	0.78%	30,951	$3M	trimmed−3%	+0.08 pp	28 q
DUKDuke Energy Corporation	0.76%	41,393	$3M	new	+0.76 pp	new
JNJJohnson & Johnson	0.72%	24,272	$3M	trimmed−28%	−0.09 pp	28 q
unresolvedUnilever Spn.Adr 1:1	0.61%	53,320	$3M	new	+0.61 pp	new
KOCoca-Cola Company	0.47%	46,377	$2M	new	+0.47 pp	new
OXYOccidental Petroleum Corporation	0.44%	167,122	$2M	trimmed−40%	−1.44 pp	28 q
SLBSLB Limited	0.37%	118,971	$2M	trimmed−49%	−1.16 pp	28 q
DVNDevon Energy Corporation	0.26%	163,558	$1M	added+4%	−0.40 pp	28 q
IWBiShares Russell 1000 ETF	0.20%	6,295	$891,000	added+14%	+0.04 pp	6 q
ISTBiShares Core 1-5 Year USD Bond ETF of iShares Trust	0.18%	15,371	$776,000	added+3%	+0.06 pp	3 q
CGENCompugen Ltd	0.16%	95,700	$695,000	added+1%	+0.07 pp	26 q
SHYiShares 1-3 Year Treasury Bond ETF	0.14%	7,197	$624,000	added+2%	+0.04 pp	3 q
BMYBristol-Myers Squibb Co.	0.13%	10,636	$593,000	trimmed−9%	+0.01 pp	11 q
IWMiShares Russell 2000 ETF	0.13%	4,962	$568,000	trimmed−7%	−0.01 pp	21 q
SHViShares Trust iShares 0-1 Year Treasury Bond ETF	0.12%	4,583	$509,000	trimmed−2%	+0.04 pp	3 q
BRK.BBERKSHIRE HATHAWAY Class B	0.10%	2,470	$452,000	added+4%	+0.01 pp	28 q
IVViShares Core S&P 500 ETF	0.09%	1,587	$410,000	held	—	8 q
EFAiShares MSCI EAFE ETF	0.08%	6,626	$354,000	added0%	0.00 pp	3 q
AMZNAmazon.Com Inc	0.07%	168	$328,000	trimmed−3%	+0.02 pp	6 q
AXPAmerican Express Company	0.06%	2,863	$245,000	trimmed−0%	0.00 pp	28 q
IGSBiShares Trust iShares 1-5 Year Investment Grade Corporate Bond ETF	0.06%	5,024	$263,000	added+4%	+0.02 pp	2 q
EFGiShares MSCI EAFE Growth ETF	0.06%	3,580	$255,000	trimmed−49%	−0.04 pp	18 q
JPSTJPMorgan Ultra-Short Income ETF	0.06%	5,046	$251,000	added+19%	+0.03 pp	2 q
PGProcter & Gamble Company	0.06%	2,287	$252,000	trimmed−82%	−0.19 pp	28 q
SDYState Street SPDR S&P Dividend ETF	0.06%	3,454	$276,000	added0%	0.00 pp	8 q
BSVVanguard Short-Term Bond ETF	0.06%	3,457	$284,000	trimmed−6%	+0.01 pp	3 q
AFLAflac Inc.	0.05%	6,201	$212,000	held	—	28 q
IEIiShares 3-7 Year Treasury Bond ETF	0.05%	1,785	$238,000	held	—	2 q
VUGVanguard Morningstar Growth ETF	0.05%	1,297	$203,000	trimmed−2%	+0.01 pp	3 q
SRNESorrento Therapeutics Inc	0.02%	50,000	$92,000	held	—	27 q
PSDVEyepoint Pharmaceuticals Inc	0.01%	26,500	$27,000	held	—	8 q
unresolvedCinedigm Corp	0.00%	12,365	$5,000	held	—	10 q
RDS.BRoyal Dutch Shell PLC	—	−156,965	—	exited	−1.54 pp	—
GENGen Digital Inc.	—	−254,892	—	exited	−1.06 pp	—
UTXZRTX Corporation	—	−23,631	—	exited	−0.58 pp	—
IEZiShares U.S. Oil Equipment & Services ETF	—	−117,311	—	exited	−0.39 pp	—
BABoeing Company	—	−910	—	exited	−0.05 pp	—
OPKOpko Health Inc.	—	−200,000	—	exited	−0.05 pp	—
IEMGiShares Core MSCI Emerging Markets ETF	—	−4,517	—	exited	−0.04 pp	—
WMTWalmart Inc.	—	−2,000	—	exited	−0.04 pp	—
VIGVanguard Dividend Appreciation ETF	—	−1,705	—	exited	−0.03 pp	—