Matrix Asset Advisors

Q4 2022 13F · by David Katz, CIO

As of: Dec 31, 2022
Filed: Jan 19, 2023
US stock: $667M · prev $610M
Positions: 88 · prev 81
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

+2.0 pp in · −1.9 pp out

New 7 +1.10 pp
Added 23 +0.92 pp
Trimmed 43 −1.93 pp
Exited 0 0.00 pp

The book

Focused · behaves like 38 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 15% a year, about 6.6 years per position

Low
Moderate
High

Top 5 positions22% of US stock

MSFT Microsoft Corp trimmed−0.37 pp trimmed−0.375.8%
JPM JPMorgan Chase & Co. trimmed+0.61 pp trimmed+0.614.4%
GILD Gilead Sciences Inc trimmed+0.76 pp trimmed+0.764.1%
CVS Cvs Health Corporation trimmed−0.50 pp trimmed−0.504.1%
ABBV Abbvie Inc. trimmed+0.26 pp trimmed+0.263.8%

Positions88 in this filing · 0 exited


MSFTMicrosoft Corp	5.76%	160,226	$38M	trimmed−0%	−0.37 pp	39 q
JPMJPMorgan Chase & Co.	4.40%	219,020	$29M	trimmed−1%	+0.61 pp	39 q
GILDGilead Sciences Inc	4.08%	316,872	$27M	trimmed−3%	+0.76 pp	35 q
CVSCvs Health Corporation	4.07%	291,349	$27M	trimmed−0%	−0.50 pp	39 q
ABBVAbbvie Inc.	3.84%	158,459	$26M	trimmed−3%	+0.26 pp	29 q
CSCOCisco Systems, Inc. (DE)	3.82%	535,458	$26M	trimmed−1%	+0.26 pp	39 q
BNYBank of New York Mellon Corporation	3.53%	517,839	$24M	trimmed−2%	+0.19 pp	7 q
CMCSAComcast Corp	3.53%	673,348	$24M	trimmed−9%	−0.05 pp	29 q
MSMorgan Stanley	3.34%	261,820	$22M	added+17%	+0.44 pp	39 q
USBU.S. Bancorp	3.33%	510,222	$22M	trimmed−1%	−0.08 pp	11 q
QCOMQualcomm Inc	3.24%	196,586	$22M	added+4%	−0.24 pp	38 q
TFCTruist Financial Corporation	3.10%	480,243	$21M	trimmed−1%	−0.37 pp	39 q
APDAir Products & Chemicals, Inc.	2.81%	60,892	$19M	trimmed−2%	+0.45 pp	3 q
AAPLApple Inc.	2.67%	137,102	$18M	added+2%	−0.38 pp	38 q
GOOGAlphabet Inc. Class C	2.27%	170,605	$15M	added0%	−0.41 pp	27 q
GSGoldman Sachs Group Inc.	2.16%	41,953	$14M	trimmed−3%	+0.09 pp	25 q
PNCPNC Financial Services Group	1.86%	78,497	$12M	added+4%	+0.01 pp	16 q
PYPLPayPal Holdings, Inc.	1.85%	173,449	$12M	added+14%	−0.30 pp	4 q
TMOThermo Fisher Scientific, Inc.	1.83%	22,174	$12M	trimmed−1%	−0.03 pp	39 q
ZBHZimmer Biomet Holdings, Inc.	1.79%	93,676	$12M	trimmed−9%	+0.02 pp	39 q
SBUXStarbucks Corp	1.74%	116,876	$12M	trimmed−1%	+0.12 pp	3 q
0VQJLTe Connectivity Ltd	1.74%	101,293	$12M	trimmed−1%	−0.12 pp	39 q
AMGNAmgen Inc	1.71%	43,469	$11M	trimmed−26%	−0.47 pp	8 q
AEPAmerican Electric Power Company, Inc.	1.70%	119,279	$11M	added+14%	+0.22 pp	5 q
MDTMedtronic plc	1.69%	145,470	$11M	trimmed−1%	−0.25 pp	4 q
BKNGBooking Holdings Inc.	1.65%	5,461	$11M	trimmed−0%	+0.17 pp	3 q
BDXBecton, Dickinson and Co.	1.58%	41,373	$11M	trimmed−3%	+0.02 pp	8 q
PARAParamount Global-class B	1.58%	624,306	$11M	trimmed−6%	−0.49 pp	13 q
KMBKimberly-Clark Corp.	1.54%	75,683	$10M	trimmed−6%	+0.05 pp	39 q
WFCWells Fargo & Co.	1.54%	248,870	$10M	trimmed−1%	−0.12 pp	39 q
FDXFedEx Corporation	1.50%	57,814	$10M	trimmed−3%	+0.05 pp	15 q
MTBM&T Bank Corp.	1.50%	69,151	$10M	trimmed−19%	−0.96 pp	11 q
FISVFiserv, Inc.	1.34%	88,451	$9M	trimmed−3%	−0.05 pp	9 q
TXNTexas Instruments Incorporated	1.34%	53,913	$9M	added+6%	+0.05 pp	4 q
KOCoca-Cola Company	1.19%	124,750	$8M	trimmed−6%	−0.03 pp	12 q
unresolvedUnilever Spn.Adr 1:1	1.16%	153,879	$8M	trimmed−0%	+0.05 pp	8 q
EBAYeBay Inc	1.01%	162,415	$7M	trimmed−19%	−0.20 pp	18 q
HDHome Depot, Inc.	0.98%	20,609	$7M	added+18%	+0.19 pp	2 q
GDGeneral Dynamics Corporation	0.83%	22,377	$6M	trimmed−2%	+0.04 pp	9 q
SLBSLB Limited	0.80%	99,779	$5M	trimmed−27%	0.00 pp	39 q
AMZNAmazon.Com Inc	0.77%	60,875	$5M	added×11.4	+0.67 pp	17 q
METAMeta Platforms, Inc. Class A	0.76%	42,213	$5M	trimmed−39%	−0.77 pp	18 q
LHXL3Harris Technologies, Inc.	0.72%	23,135	$5M	trimmed−1%	−0.07 pp	10 q
VOOVanguard S&P 500 ETF	0.66%	12,496	$4M	added+24%	+0.12 pp	6 q
VYMVanguard High Dividend Yield ETF	0.63%	38,664	$4M	added+20%	+0.13 pp	11 q
VEAVanguard FTSE Developed Markets ETF	0.50%	79,471	$3M	added+42%	+0.17 pp	8 q
TSNTyson Foods, Inc.	0.44%	46,811	$3M	new	+0.44 pp	new
IWFiShares Russell 1000 Growth ETF	0.37%	11,478	$2M	added+38%	+0.08 pp	8 q
MDYState Street SPDR S&P MIDCAP 400 ETF Trust	0.37%	5,598	$2M	trimmed−3%	−0.01 pp	8 q
TCHPT. Rowe Price Blue Chip Growth ETF	0.35%	22,744	$2M	new	+0.35 pp	new
VTIVanguard Morningstar Total Stock Market ETF	0.30%	10,481	$2M	held	—	9 q
IWMiShares Russell 2000 ETF	0.28%	10,574	$2M	added+19%	+0.04 pp	32 q
IWRiShares Russell Mid-Cap ETF	0.16%	15,784	$1M	added×2.6	+0.10 pp	6 q
EFAiShares MSCI EAFE ETF	0.15%	15,455	$1M	trimmed−25%	−0.04 pp	14 q
VWOVanguard FTSE Emerging Markets ETF	0.15%	26,379	$1M	new	+0.15 pp	new
BRK.BBERKSHIRE HATHAWAY Class B	0.13%	2,729	$842,988	added0%	+0.01 pp	39 q
IVViShares Core S&P 500 ETF	0.11%	1,996	$766,947	added+5%	0.00 pp	19 q
VXFVanguard Extended Market ETF	0.11%	5,315	$706,151	held	—	6 q
IJRiShares Core S&P Small-Cap ETF	0.10%	7,315	$692,319	added+42%	+0.03 pp	7 q
JNJJohnson & Johnson	0.10%	3,715	$656,255	held	—	39 q
VUGVanguard Morningstar Growth ETF	0.10%	3,222	$686,710	held	—	14 q
QQQInvesco QQQ Trust, Series 1	0.09%	2,153	$573,384	added+1%	0.00 pp	11 q
GLDSPDR Gold Trust, SPDR Gold Shares	0.09%	3,566	$604,936	held	—	5 q
COFCapital One Financial	0.08%	5,505	$511,745	held	—	39 q
SDYState Street SPDR S&P Dividend ETF	0.08%	4,170	$521,764	held	—	19 q
VIGVanguard Dividend Appreciation ETF	0.08%	3,363	$510,658	trimmed−3%	0.00 pp	11 q
AFLAflac Inc.	0.07%	6,201	$446,100	held	—	39 q
BMYBristol-Myers Squibb Co.	0.07%	6,650	$478,468	held	—	22 q
XOMExxon Mobil Corp	0.07%	4,356	$480,467	trimmed−6%	0.00 pp	39 q
MRKMerck & Co., Inc.	0.07%	4,175	$463,216	trimmed−14%	0.00 pp	39 q
AXPAmerican Express Company	0.06%	2,778	$410,450	held	—	39 q
DCGODocGo Inc.	0.06%	55,805	$394,541	held	—	2 q
LBAILakeland Bancorp Inc	0.06%	20,876	$367,626	trimmed−22%	−0.01 pp	9 q
BABoeing Company	0.05%	1,611	$306,879	new	+0.05 pp	new
IWDiShares Russell 1000 Value ETF	0.05%	2,059	$312,247	new	+0.05 pp	new
PGProcter & Gamble Company	0.05%	2,256	$341,919	held	—	39 q
SPYXState Street SPDR S&P 500 Fossil Fuel Reserves Free ETF	0.05%	3,521	$328,685	held	—	4 q
TSLATesla, Inc.	0.05%	2,556	$314,848	trimmed−6%	−0.07 pp	8 q
IEMGiShares Core MSCI Emerging Markets ETF	0.04%	5,869	$274,093	added+1%	0.00 pp	11 q
WMTWalmart Inc.	0.04%	1,887	$267,558	added+6%	0.00 pp	11 q
GOOGLAlphabet Inc. Class A	0.03%	2,616	$230,810	added+14%	−0.01 pp	9 q
CLColgate-Palmolive Company	0.03%	2,650	$208,794	new	+0.03 pp	new
DHRDanaher Corporation	0.03%	778	$206,497	new	+0.03 pp	new
ESGDiShares Trust iShares ESG Aware MSCI EAFE ETF	0.03%	3,440	$226,146	trimmed−4%	0.00 pp	4 q
TPIVDMarker Therapeutics, Inc.	0.01%	250,000	$67,500	trimmed−38%	−0.01 pp	5 q
SKYXSKYX Platforms Corp.	0.01%	15,000	$37,800	held	—	2 q
CGENCompugen Ltd	0.01%	109,656	$78,952	trimmed−4%	0.00 pp	37 q
unresolvedCinedigm Corp	0.00%	12,365	$4,822	held	—	21 q