Matrix Asset Advisors

Q2 2021 13F · by David Katz, CIO

As of: Jun 30, 2021
Filed: Aug 10, 2021
US stock: $696M · prev $670M
Positions: 81 · prev 89
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%

Moves82 since the prior filing

+5.7 pp in · −5.8 pp out

New 5 +0.58 pp
Added 32 +5.17 pp
Trimmed 32 −1.27 pp
Exited 13 −4.52 pp

The book

Focused · behaves like 36 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 25% a year, about 4.0 years per position

Low
Moderate
High

Top 5 positions22% of US stock

MSFT Microsoft Corp trimmed+0.50 pp trimmed+0.506.2%
JPM JPMorgan Chase & Co. trimmed−0.12 pp trimmed−0.124.8%
CVS Cvs Health Corporation trimmed+0.23 pp trimmed+0.234.1%
ABBV Abbvie Inc. added+0.01 pp added+0.013.7%
CSCO Cisco Systems, Inc. (DE) trimmed−0.07 pp trimmed−0.073.6%

Positions81 in this filing · 13 exited


MSFTMicrosoft Corp	6.24%	160,292	$43M	trimmed−2%	+0.50 pp	33 q
JPMJPMorgan Chase & Co.	4.79%	214,493	$33M	trimmed−1%	−0.12 pp	33 q
CVSCvs Health Corporation	4.07%	339,704	$28M	trimmed−1%	+0.23 pp	33 q
ABBVAbbvie Inc.	3.74%	231,282	$26M	added0%	+0.01 pp	23 q
CSCOCisco Systems, Inc. (DE)	3.61%	474,077	$25M	trimmed−1%	−0.07 pp	33 q
USBU.S. Bancorp	3.51%	428,777	$24M	added+3%	+0.07 pp	5 q
GILDGilead Sciences Inc	3.46%	349,984	$24M	trimmed−0%	+0.08 pp	29 q
KELKellanova	3.36%	363,662	$23M	trimmed−0%	−0.08 pp	9 q
CMCSAComcast Corp	3.35%	409,047	$23M	added+26%	+0.73 pp	23 q
QCOMQualcomm Inc	3.22%	156,586	$22M	added+15%	+0.54 pp	32 q
GOOGAlphabet Inc. Class C	3.10%	8,608	$22M	trimmed−3%	+0.37 pp	21 q
KOCoca-Cola Company	3.10%	398,700	$22M	added+5%	+0.10 pp	6 q
TFCTruist Financial Corporation	3.03%	379,235	$21M	added+4%	−0.14 pp	33 q
PNWPinnacle West Capital Corporation	2.76%	234,101	$19M	added0%	−0.08 pp	4 q
PEPPepsiCo, Inc.	2.42%	113,530	$17M	trimmed−0%	+0.02 pp	33 q
AAPLApple Inc.	2.39%	121,165	$17M	added+1%	+0.19 pp	32 q
GSGoldman Sachs Group Inc.	2.30%	42,239	$16M	trimmed−3%	+0.18 pp	19 q
PARAParamount Global-class B	2.23%	343,560	$16M	added×2.5	+1.32 pp	7 q
METAMeta Platforms, Inc. Class A	2.10%	42,041	$15M	trimmed−1%	+0.24 pp	12 q
MSMorgan Stanley	2.08%	157,791	$14M	trimmed−2%	+0.22 pp	33 q
FDXFedEx Corporation	2.07%	48,310	$14M	trimmed−2%	−0.01 pp	9 q
MRKMerck & Co., Inc.	1.93%	172,852	$13M	added+22%	+0.30 pp	33 q
VZVerizon Communications	1.89%	234,649	$13M	added+12%	+0.07 pp	31 q
0VQJLTe Connectivity Ltd	1.89%	97,242	$13M	trimmed−2%	−0.01 pp	33 q
CVXChevron Corporation	1.88%	124,606	$13M	trimmed−3%	−0.14 pp	33 q
EBAYeBay Inc	1.81%	179,448	$13M	trimmed−2%	+0.14 pp	12 q
PNCPNC Financial Services Group	1.75%	63,925	$12M	added+1%	+0.10 pp	10 q
STTState Street Corporation	1.63%	137,754	$11M	trimmed−1%	−0.11 pp	33 q
WFCWells Fargo & Co.	1.61%	247,710	$11M	trimmed−2%	+0.14 pp	33 q
TMOThermo Fisher Scientific, Inc.	1.60%	22,062	$11M	added+1%	+0.11 pp	33 q
KMBKimberly-Clark Corp.	1.52%	79,116	$11M	added+21%	+0.17 pp	33 q
ZBHZimmer Biomet Holdings, Inc.	1.50%	64,873	$10M	trimmed−0%	−0.06 pp	33 q
MTBM&T Bank Corp.	1.48%	71,016	$10M	added+45%	+0.37 pp	5 q
GISGeneral Mills, Inc.	1.30%	148,213	$9M	trimmed−0%	−0.06 pp	33 q
FISVFiserv, Inc.	1.28%	83,017	$9M	added+71%	+0.42 pp	3 q
EDConsolidated Edison, Inc.	1.17%	113,438	$8M	added+3%	−0.06 pp	4 q
BDXBecton, Dickinson and Co.	1.07%	30,727	$7M	added+58%	+0.37 pp	2 q
AMGNAmgen Inc	0.98%	27,849	$7M	added+67%	+0.36 pp	2 q
DUKDuke Energy Corporation	0.75%	52,978	$5M	trimmed−34%	−0.40 pp	6 q
LHXL3Harris Technologies, Inc.	0.74%	23,941	$5M	added0%	+0.02 pp	4 q
SLBSLB Limited	0.64%	139,734	$4M	trimmed−1%	+0.07 pp	33 q
GDGeneral Dynamics Corporation	0.58%	21,593	$4M	trimmed−1%	−0.01 pp	3 q
BNYBank of New York Mellon Corporation	0.45%	61,700	$3M	new	+0.45 pp	new
MDYState Street SPDR S&P MIDCAP 400 ETF Trust	0.37%	5,289	$3M	added+2%	0.00 pp	2 q
VYMVanguard High Dividend Yield ETF	0.37%	24,295	$3M	added+15%	+0.05 pp	5 q
EFAiShares MSCI EAFE ETF	0.32%	28,399	$2M	trimmed−1%	0.00 pp	8 q
IWMiShares Russell 2000 ETF	0.25%	7,444	$2M	added+1%	+0.01 pp	26 q
COFCapital One Financial	0.15%	6,850	$1M	trimmed−86%	−0.76 pp	33 q
CGENCompugen Ltd	0.13%	105,236	$871,000	trimmed−2%	−0.01 pp	31 q
AMZNAmazon.Com Inc	0.12%	252	$867,000	held	—	11 q
BRK.BBERKSHIRE HATHAWAY Class B	0.11%	2,704	$751,000	trimmed−1%	+0.01 pp	33 q
IVViShares Core S&P 500 ETF	0.11%	1,712	$736,000	added+1%	+0.01 pp	13 q
VEAVanguard FTSE Developed Markets ETF	0.11%	15,090	$777,000	added×2.3	+0.06 pp	2 q
VTIVanguard Morningstar Total Stock Market ETF	0.11%	3,417	$761,000	added+8%	+0.01 pp	3 q
JNJJohnson & Johnson	0.10%	4,101	$676,000	trimmed−3%	0.00 pp	33 q
TSLATesla, Inc.	0.10%	1,043	$709,000	held	—	2 q
VUGVanguard Morningstar Growth ETF	0.09%	2,081	$597,000	held	—	8 q
BMYBristol-Myers Squibb Co.	0.08%	8,184	$547,000	added0%	0.00 pp	16 q
VIGVanguard Dividend Appreciation ETF	0.08%	3,533	$547,000	added+36%	+0.02 pp	5 q
AXPAmerican Express Company	0.07%	2,778	$459,000	trimmed−3%	+0.01 pp	33 q
XOMExxon Mobil Corp	0.07%	7,696	$485,000	trimmed−24%	−0.01 pp	33 q
IWFiShares Russell 1000 Growth ETF	0.07%	1,903	$517,000	added+54%	+0.03 pp	2 q
LBAILakeland Bancorp Inc	0.07%	26,876	$470,000	held	—	3 q
SDYState Street SPDR S&P Dividend ETF	0.07%	4,054	$496,000	added+6%	0.00 pp	13 q
unresolvedUnilever Spn.Adr 1:1	0.06%	7,518	$440,000	held	—	2 q
AFLAflac Inc.	0.05%	6,201	$333,000	held	—	33 q
BABoeing Company	0.05%	1,325	$317,000	held	—	3 q
QQQInvesco QQQ Trust, Series 1	0.05%	1,046	$371,000	added0%	0.00 pp	5 q
IEMGiShares Core MSCI Emerging Markets ETF	0.05%	4,923	$330,000	held	—	5 q
PGProcter & Gamble Company	0.05%	2,765	$373,000	trimmed−20%	−0.02 pp	33 q
GOOGLAlphabet Inc. Class A	0.04%	114	$278,000	trimmed−2%	0.00 pp	3 q
DISCADiscovery, Inc. Series A	0.04%	10,000	$307,000	new	+0.04 pp	new
unresolvedLongeveron Inc	0.04%	35,000	$285,000	added+17%	+0.01 pp	2 q
WMTWalmart Inc.	0.04%	1,783	$251,000	held	—	5 q
TAT&T Inc.	0.03%	7,017	$202,000	trimmed−98%	−1.61 pp	33 q
CLColgate-Palmolive Company	0.03%	2,650	$216,000	held	—	4 q
IJRiShares Core S&P Small-Cap ETF	0.03%	1,878	$212,000	new	+0.03 pp	new
SPYXState Street SPDR S&P 500 Fossil Fuel Reserves Free ETF	0.03%	1,938	$206,000	new	+0.03 pp	new
VOVanguard Morningstar Mid-Cap ETF	0.03%	870	$206,000	new	+0.03 pp	new
VBVanguard Morningstar Small-Cap ETF	0.03%	1,019	$230,000	held	—	2 q
unresolvedCinedigm Corp	0.00%	12,365	$16,000	held	—	15 q
MDLZMondelez International, Inc. Class A	—	−136,606	—	exited	−1.19 pp	—
JPSTJPMorgan Ultra-Short Income ETF	—	−105,734	—	exited	−0.80 pp	—
METMetLife, Inc.	—	−75,230	—	exited	−0.68 pp	—
JMSTJPMorgan Ultra-Short Municipal Income ETF	—	−62,362	—	exited	−0.47 pp	—
ISTBiShares Core 1-5 Year USD Bond ETF of iShares Trust	—	−58,051	—	exited	−0.44 pp	—
IGSBiShares Trust iShares 1-5 Year Investment Grade Corporate Bond ETF	—	−34,462	—	exited	−0.28 pp	—
SUBiShares Short-Term National Muni Bond ETF	—	−13,996	—	exited	−0.23 pp	—
SHYiShares 1-3 Year Treasury Bond ETF	—	−13,134	—	exited	−0.17 pp	—
MUNIPIMCO Intermediate Municipal Bond Active Exchange-Traded Fund	—	−8,915	—	exited	−0.07 pp	—
UPSUnited Parcel Service, Inc. Class B	—	−2,375	—	exited	−0.06 pp	—
IGIBiShares Trust iShares 5-10 Year Investment Grade Corporate Bond ETF	—	−5,283	—	exited	−0.05 pp	—
IEIiShares 3-7 Year Treasury Bond ETF	—	−1,820	—	exited	−0.04 pp	—
BSVVanguard Short-Term Bond ETF	—	−3,217	—	exited	−0.04 pp	—