Matrix Asset Advisors

Q1 2021 13F · by David Katz, CIO

As of: Mar 31, 2021
Filed: May 10, 2021
US stock: $670M · prev $593M
Positions: 89 · prev 87
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%

Moves84 since the prior filing

+10.6 pp in · −10.6 pp out

New 9 +2.00 pp
Added 44 +8.65 pp
Trimmed 24 −7.89 pp
Exited 7 −2.68 pp

The book

Focused · behaves like 39 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 40% a year, about 2.5 years per position

Low
Moderate
High

Top 5 positions22% of US stock

MSFT Microsoft Corp trimmed−0.47 pp trimmed−0.475.7%
JPM JPMorgan Chase & Co. added+0.30 pp added+0.304.9%
CVS Cvs Health Corporation added−0.01 pp added−0.013.8%
ABBV Abbvie Inc. added−0.39 pp added−0.393.7%
CSCO Cisco Systems, Inc. (DE) added+0.09 pp added+0.093.7%

Positions89 in this filing · 7 exited


MSFTMicrosoft Corp	5.74%	163,269	$38M	trimmed−1%	−0.47 pp	32 q
JPMJPMorgan Chase & Co.	4.91%	216,200	$33M	added0%	+0.30 pp	32 q
CVSCvs Health Corporation	3.84%	342,634	$26M	added+3%	−0.01 pp	32 q
ABBVAbbvie Inc.	3.73%	231,260	$25M	added+2%	−0.39 pp	22 q
CSCOCisco Systems, Inc. (DE)	3.68%	476,601	$25M	added0%	+0.09 pp	32 q
KELKellanova	3.44%	364,330	$23M	added+8%	−0.09 pp	8 q
USBU.S. Bancorp	3.44%	417,031	$23M	added×3.6	+2.54 pp	4 q
GILDGilead Sciences Inc	3.38%	350,715	$23M	added+17%	+0.43 pp	28 q
TFCTruist Financial Corporation	3.17%	364,939	$21M	added+1%	+0.25 pp	32 q
KOCoca-Cola Company	3.00%	381,165	$20M	added+61%	+0.80 pp	5 q
PNWPinnacle West Capital Corporation	2.84%	233,867	$19M	added×2.8	+1.73 pp	3 q
GOOGAlphabet Inc. Class C	2.73%	8,833	$18M	trimmed−1%	+0.08 pp	20 q
QCOMQualcomm Inc	2.68%	135,761	$18M	added+2%	−0.75 pp	31 q
CMCSAComcast Corp	2.62%	324,198	$18M	added+12%	+0.07 pp	22 q
PEPPepsiCo, Inc.	2.40%	113,668	$16M	added+79%	+0.82 pp	32 q
AAPLApple Inc.	2.20%	120,564	$15M	trimmed−0%	−0.51 pp	31 q
GSGoldman Sachs Group Inc.	2.12%	43,558	$14M	trimmed−3%	+0.13 pp	18 q
FDXFedEx Corporation	2.08%	49,079	$14M	trimmed−1%	−0.09 pp	8 q
CVXChevron Corporation	2.02%	128,986	$14M	added+1%	+0.20 pp	32 q
0VQJLTe Connectivity Ltd	1.90%	98,793	$13M	trimmed−2%	−0.15 pp	32 q
METAMeta Platforms, Inc. Class A	1.86%	42,275	$12M	added0%	−0.08 pp	11 q
MSMorgan Stanley	1.86%	160,767	$12M	trimmed−24%	−0.57 pp	32 q
VZVerizon Communications	1.82%	209,539	$12M	added+22%	+0.12 pp	30 q
STTState Street Corporation	1.74%	138,583	$12M	trimmed−2%	+0.01 pp	32 q
EBAYeBay Inc	1.67%	182,946	$11M	trimmed−3%	+0.08 pp	11 q
PNCPNC Financial Services Group	1.65%	63,117	$11M	added+2%	+0.09 pp	9 q
TAT&T Inc.	1.64%	362,133	$11M	added+5%	−0.04 pp	32 q
MRKMerck & Co., Inc.	1.63%	141,878	$11M	added+17%	−0.04 pp	32 q
ZBHZimmer Biomet Holdings, Inc.	1.56%	65,152	$10M	trimmed−6%	−0.24 pp	32 q
TMOThermo Fisher Scientific, Inc.	1.49%	21,829	$10M	trimmed−0%	−0.23 pp	32 q
WFCWells Fargo & Co.	1.47%	252,472	$10M	trimmed−0%	+0.18 pp	32 q
GISGeneral Mills, Inc.	1.36%	148,304	$9M	added+7%	−0.01 pp	32 q
KMBKimberly-Clark Corp.	1.35%	65,227	$9M	added+6%	−0.04 pp	32 q
EDConsolidated Edison, Inc.	1.23%	109,901	$8M	added+26%	+0.17 pp	3 q
MDLZMondelez International, Inc. Class A	1.19%	136,606	$8M	trimmed−3%	−0.19 pp	20 q
DUKDuke Energy Corporation	1.15%	80,144	$8M	added+7%	−0.01 pp	5 q
MTBM&T Bank Corp.	1.11%	49,023	$7M	added×2.1	+0.61 pp	4 q
COFCapital One Financial	0.91%	48,060	$6M	trimmed−37%	−0.36 pp	32 q
PARAParamount Global-class B	0.91%	134,898	$6M	trimmed−65%	−1.51 pp	6 q
FISVFiserv, Inc.	0.86%	48,444	$6M	added×2.2	+0.44 pp	2 q
JPSTJPMorgan Ultra-Short Income ETF	0.80%	105,734	$5M	added+39%	+0.15 pp	6 q
LHXL3Harris Technologies, Inc.	0.72%	23,899	$5M	added+58%	+0.24 pp	3 q
BDXBecton, Dickinson and Co.	0.70%	19,417	$5M	new	+0.70 pp	new
METMetLife, Inc.	0.68%	75,230	$5M	trimmed−83%	−2.76 pp	32 q
AMGNAmgen Inc	0.62%	16,633	$4M	new	+0.62 pp	new
GDGeneral Dynamics Corporation	0.59%	21,794	$4M	added×5.9	+0.50 pp	2 q
SLBSLB Limited	0.57%	140,761	$4M	added+1%	+0.05 pp	32 q
JMSTJPMorgan Ultra-Short Municipal Income ETF	0.47%	62,362	$3M	added+69%	+0.15 pp	2 q
ISTBiShares Core 1-5 Year USD Bond ETF of iShares Trust	0.44%	58,051	$3M	added+70%	+0.14 pp	7 q
MDYState Street SPDR S&P MIDCAP 400 ETF Trust	0.37%	5,185	$2M	new	+0.37 pp	new
EFAiShares MSCI EAFE ETF	0.32%	28,545	$2M	trimmed−6%	−0.05 pp	7 q
VYMVanguard High Dividend Yield ETF	0.32%	21,088	$2M	added×2.2	+0.17 pp	4 q
IGSBiShares Trust iShares 1-5 Year Investment Grade Corporate Bond ETF	0.28%	34,462	$2M	added+86%	+0.11 pp	6 q
IWMiShares Russell 2000 ETF	0.24%	7,396	$2M	added+19%	+0.03 pp	25 q
SUBiShares Short-Term National Muni Bond ETF	0.23%	13,996	$2M	held	—	3 q
SHYiShares 1-3 Year Treasury Bond ETF	0.17%	13,134	$1M	added+2%	−0.02 pp	7 q
CGENCompugen Ltd	0.14%	107,000	$919,000	added+1%	−0.08 pp	30 q
AMZNAmazon.Com Inc	0.12%	252	$780,000	held	—	10 q
BRK.BBERKSHIRE HATHAWAY Class B	0.10%	2,730	$697,000	trimmed−3%	−0.01 pp	32 q
IVViShares Core S&P 500 ETF	0.10%	1,690	$672,000	added+4%	0.00 pp	12 q
JNJJohnson & Johnson	0.10%	4,235	$696,000	trimmed−84%	−0.60 pp	32 q
TSLATesla, Inc.	0.10%	1,043	$697,000	new	+0.10 pp	new
VTIVanguard Morningstar Total Stock Market ETF	0.10%	3,151	$651,000	held	—	2 q
BMYBristol-Myers Squibb Co.	0.08%	8,162	$515,000	trimmed−23%	−0.03 pp	15 q
XOMExxon Mobil Corp	0.08%	10,086	$563,000	trimmed−6%	+0.01 pp	32 q
VUGVanguard Morningstar Growth ETF	0.08%	2,081	$535,000	added+60%	+0.02 pp	7 q
LBAILakeland Bancorp Inc	0.07%	26,876	$468,000	held	—	2 q
MUNIPIMCO Intermediate Municipal Bond Active Exchange-Traded Fund	0.07%	8,915	$501,000	held	—	2 q
PGProcter & Gamble Company	0.07%	3,440	$466,000	added+6%	−0.01 pp	32 q
SDYState Street SPDR S&P Dividend ETF	0.07%	3,809	$450,000	held	—	12 q
AXPAmerican Express Company	0.06%	2,863	$405,000	held	—	32 q
unresolvedUnilever Spn.Adr 1:1	0.06%	7,518	$420,000	new	+0.06 pp	new
UPSUnited Parcel Service, Inc. Class B	0.06%	2,375	$404,000	trimmed−90%	−0.60 pp	32 q
VIGVanguard Dividend Appreciation ETF	0.06%	2,604	$383,000	added+8%	0.00 pp	4 q
AFLAflac Inc.	0.05%	6,201	$317,000	held	—	32 q
BABoeing Company	0.05%	1,325	$338,000	held	—	2 q
QQQInvesco QQQ Trust, Series 1	0.05%	1,045	$334,000	added+6%	0.00 pp	4 q
IGIBiShares Trust iShares 5-10 Year Investment Grade Corporate Bond ETF	0.05%	5,283	$313,000	added+13%	0.00 pp	4 q
IEMGiShares Core MSCI Emerging Markets ETF	0.05%	4,923	$317,000	trimmed−11%	−0.01 pp	4 q
VEAVanguard FTSE Developed Markets ETF	0.05%	6,704	$329,000	new	+0.05 pp	new
GOOGLAlphabet Inc. Class A	0.04%	116	$239,000	trimmed−7%	0.00 pp	2 q
IWFiShares Russell 1000 Growth ETF	0.04%	1,236	$300,000	new	+0.04 pp	new
IEIiShares 3-7 Year Treasury Bond ETF	0.04%	1,820	$236,000	added+2%	0.00 pp	6 q
BSVVanguard Short-Term Bond ETF	0.04%	3,217	$264,000	added+1%	0.00 pp	7 q
WMTWalmart Inc.	0.04%	1,783	$242,000	held	—	4 q
CLColgate-Palmolive Company	0.03%	2,650	$209,000	held	—	3 q
unresolvedLongeveron Inc	0.03%	30,000	$198,000	new	+0.03 pp	new
VBVanguard Morningstar Small-Cap ETF	0.03%	1,019	$218,000	new	+0.03 pp	new
unresolvedCinedigm Corp	0.00%	12,365	$21,000	held	—	14 q
IBMInternational Business Machines Corporation	—	−47,697	—	exited	−1.01 pp	—
ETNEaton Corporation, plc	—	−39,692	—	exited	−0.80 pp	—
HDHome Depot, Inc.	—	−16,327	—	exited	−0.73 pp	—
SHViShares Trust iShares 0-1 Year Treasury Bond ETF	—	−4,994	—	exited	−0.09 pp	—
DISThe Walt Disney Company	—	−1,140	—	exited	−0.03 pp	—
ETEnergy Transfer LP	—	−11,544	—	exited	−0.01 pp	—
OPKOpko Health Inc.	—	−10,000	—	exited	−0.01 pp	—