Matrix Asset Advisors

Q3 2020 13F · by David Katz, CIO

As of: Sep 30, 2020
Filed: Nov 11, 2020
US stock: $514M · prev $522M
Positions: 79 · 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

+3.9 pp in · −3.9 pp out

New 5 +2.70 pp
Added 26 +1.15 pp
Trimmed 40 −3.79 pp
Exited 2 −0.13 pp

The book

Focused · behaves like 38 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 19% a year, about 5.2 years per position

Low
Moderate
High

Top 5 positions22% of US stock

MSFT Microsoft Corp trimmed−0.18 pp trimmed−0.186.8%
KEL Kellanova trimmed−0.19 pp trimmed−0.194.0%
JPM JPMorgan Chase & Co. trimmed−0.13 pp trimmed−0.134.0%
ABBV Abbvie Inc. trimmed−1.11 pp trimmed−1.113.8%
CVS Cvs Health Corporation added−0.29 pp added−0.293.8%

Positions79 in this filing · 2 exited


MSFTMicrosoft Corp	6.75%	164,947	$35M	trimmed−7%	−0.18 pp	30 q
KELKellanova	4.05%	322,223	$21M	trimmed−4%	−0.19 pp	6 q
JPMJPMorgan Chase & Co.	4.01%	214,179	$21M	trimmed−7%	−0.13 pp	30 q
ABBVAbbvie Inc.	3.81%	223,425	$20M	trimmed−15%	−1.11 pp	20 q
CVSCvs Health Corporation	3.77%	332,061	$19M	added+2%	−0.29 pp	30 q
CSCOCisco Systems, Inc. (DE)	3.49%	455,748	$18M	trimmed−3%	−0.73 pp	30 q
GILDGilead Sciences Inc	3.39%	275,931	$17M	added+9%	−0.33 pp	26 q
METMetLife, Inc.	3.18%	440,073	$16M	trimmed−7%	−0.15 pp	30 q
QCOMQualcomm Inc	3.10%	135,566	$16M	trimmed−29%	−0.25 pp	29 q
AAPLApple Inc.	2.70%	119,675	$14M	trimmed−1%	+0.59 pp	29 q
TFCTruist Financial Corporation	2.69%	363,496	$14M	trimmed−6%	−0.09 pp	30 q
GOOGAlphabet Inc. Class C	2.65%	9,269	$14M	trimmed−2%	+0.08 pp	18 q
CMCSAComcast Corp	2.60%	288,863	$13M	trimmed−5%	+0.32 pp	20 q
FDXFedEx Corporation	2.46%	50,366	$13M	trimmed−3%	+1.07 pp	6 q
METAMeta Platforms, Inc. Class A	2.16%	42,429	$11M	trimmed−2%	+0.28 pp	9 q
ETNEaton Corporation, plc	2.07%	104,443	$11M	trimmed−29%	−0.41 pp	27 q
TMOThermo Fisher Scientific, Inc.	2.06%	24,034	$11M	trimmed−2%	+0.35 pp	30 q
MSMorgan Stanley	2.02%	214,633	$10M	trimmed−3%	−0.02 pp	30 q
PARAParamount Global-class B	1.97%	361,727	$10M	trimmed−1%	+0.34 pp	4 q
KOCoca-Cola Company	1.96%	204,613	$10M	added+20%	+0.50 pp	3 q
0VQJLTe Connectivity Ltd	1.96%	102,869	$10M	trimmed−1%	+0.34 pp	30 q
ZBHZimmer Biomet Holdings, Inc.	1.95%	73,597	$10M	trimmed−2%	+0.23 pp	30 q
VZVerizon Communications	1.90%	164,272	$10M	trimmed−13%	−0.09 pp	28 q
TAT&T Inc.	1.87%	338,074	$10M	trimmed−6%	−0.20 pp	30 q
EBAYeBay Inc	1.87%	184,492	$10M	trimmed−16%	−0.33 pp	9 q
MRKMerck & Co., Inc.	1.83%	113,387	$9M	trimmed−13%	−0.10 pp	30 q
CVXChevron Corporation	1.79%	128,135	$9M	added+36%	+0.18 pp	30 q
KMBKimberly-Clark Corp.	1.69%	58,952	$9M	trimmed−15%	−0.18 pp	30 q
PEPPepsiCo, Inc.	1.69%	62,667	$9M	trimmed−7%	−0.03 pp	30 q
GSGoldman Sachs Group Inc.	1.65%	42,223	$8M	trimmed−2%	+0.02 pp	16 q
GISGeneral Mills, Inc.	1.63%	135,645	$8M	trimmed−13%	−0.20 pp	30 q
MDLZMondelez International, Inc. Class A	1.59%	142,138	$8M	trimmed−2%	+0.16 pp	18 q
STTState Street Corporation	1.54%	133,803	$8M	trimmed−1%	−0.11 pp	30 q
WFCWells Fargo & Co.	1.42%	309,517	$7M	added+14%	+0.09 pp	30 q
PNCPNC Financial Services Group	1.32%	61,654	$7M	trimmed−11%	−0.07 pp	7 q
DUKDuke Energy Corporation	1.29%	74,637	$7M	added+32%	+0.42 pp	3 q
PNWPinnacle West Capital Corporation	1.15%	79,170	$6M	new	+1.15 pp	new
COFCapital One Financial	1.07%	76,865	$6M	trimmed−9%	+0.05 pp	30 q
EDConsolidated Edison, Inc.	1.06%	69,772	$5M	new	+1.06 pp	new
IBMInternational Business Machines Corporation	1.05%	44,529	$5M	added+19%	+0.18 pp	30 q
HDHome Depot, Inc.	0.89%	16,555	$5M	trimmed−54%	−0.84 pp	7 q
UPSUnited Parcel Service, Inc. Class B	0.78%	24,002	$4M	trimmed−71%	−0.97 pp	30 q
USBU.S. Bancorp	0.73%	104,731	$4M	trimmed−9%	−0.08 pp	2 q
JNJJohnson & Johnson	0.69%	23,766	$4M	trimmed−9%	−0.02 pp	30 q
SLBSLB Limited	0.49%	162,142	$3M	added+8%	−0.04 pp	30 q
MTBM&T Bank Corp.	0.40%	22,609	$2M	trimmed−8%	−0.09 pp	2 q
EFAiShares MSCI EAFE ETF	0.35%	28,674	$2M	added+17%	+0.07 pp	5 q
JPSTJPMorgan Ultra-Short Income ETF	0.33%	32,963	$2M	added0%	+0.01 pp	4 q
CGENCompugen Ltd	0.31%	99,500	$2M	added+4%	+0.04 pp	28 q
LHXL3Harris Technologies, Inc.	0.27%	8,207	$1M	new	+0.27 pp	new
ISTBiShares Core 1-5 Year USD Bond ETF of iShares Trust	0.21%	21,202	$1M	added+23%	+0.04 pp	5 q
IWMiShares Russell 2000 ETF	0.19%	6,374	$955,000	added+13%	+0.03 pp	23 q
IWBiShares Russell 1000 ETF	0.18%	4,842	$906,000	added+3%	+0.03 pp	8 q
SUBiShares Short-Term National Muni Bond ETF	0.18%	8,515	$920,000	new	+0.18 pp	new
SHYiShares 1-3 Year Treasury Bond ETF	0.17%	10,370	$897,000	added+31%	+0.04 pp	5 q
AMZNAmazon.Com Inc	0.15%	251	$790,000	added+30%	+0.05 pp	8 q
BMYBristol-Myers Squibb Co.	0.12%	10,644	$642,000	added0%	0.00 pp	13 q
BRK.BBERKSHIRE HATHAWAY Class B	0.11%	2,744	$584,000	added+10%	+0.02 pp	30 q
IVViShares Core S&P 500 ETF	0.10%	1,557	$523,000	trimmed−2%	+0.01 pp	10 q
IGSBiShares Trust iShares 1-5 Year Investment Grade Corporate Bond ETF	0.10%	9,287	$510,000	added+38%	+0.03 pp	4 q
SHViShares Trust iShares 0-1 Year Treasury Bond ETF	0.10%	4,865	$539,000	trimmed−3%	−0.01 pp	5 q
XOMExxon Mobil Corp	0.07%	10,983	$377,000	trimmed−92%	−1.05 pp	30 q
PGProcter & Gamble Company	0.07%	2,746	$382,000	held	—	30 q
SDYState Street SPDR S&P Dividend ETF	0.07%	3,809	$352,000	held	—	10 q
VYMVanguard High Dividend Yield ETF	0.07%	4,569	$370,000	added+7%	+0.01 pp	2 q
AXPAmerican Express Company	0.06%	2,863	$287,000	held	—	30 q
IGIBiShares Trust iShares 5-10 Year Investment Grade Corporate Bond ETF	0.06%	4,751	$289,000	added+13%	+0.01 pp	2 q
EFGiShares MSCI EAFE Growth ETF	0.06%	3,446	$310,000	trimmed−4%	0.00 pp	20 q
IEMGiShares Core MSCI Emerging Markets ETF	0.06%	5,520	$291,000	added+17%	+0.02 pp	2 q
VIGVanguard Dividend Appreciation ETF	0.06%	2,254	$290,000	added+24%	+0.02 pp	2 q
VUGVanguard Morningstar Growth ETF	0.06%	1,298	$295,000	held	—	5 q
QQQInvesco QQQ Trust, Series 1	0.05%	913	$254,000	added+7%	+0.01 pp	2 q
IEIiShares 3-7 Year Treasury Bond ETF	0.05%	1,785	$238,000	held	—	4 q
BSVVanguard Short-Term Bond ETF	0.05%	3,019	$251,000	added+2%	0.00 pp	5 q
WMTWalmart Inc.	0.05%	1,783	$249,000	added+2%	+0.01 pp	2 q
AFLAflac Inc.	0.04%	6,201	$225,000	held	—	30 q
CLColgate-Palmolive Company	0.04%	2,650	$204,000	new	+0.04 pp	new
unresolvedCinedigm Corp	0.00%	12,365	$7,000	held	—	12 q
PSDVEyepoint Pharmaceuticals Inc	0.00%	39,500	$20,000	held	—	10 q
OPKOpko Health Inc.	—	−100,000	—	exited	−0.07 pp	—
SRNESorrento Therapeutics Inc	—	−50,000	—	exited	−0.06 pp	—