Matrix Asset Advisors

Q3 2023 13F · by David Katz, CIO

As of: Sep 30, 2023
Filed: Oct 12, 2023
US stock: $702M · prev $726M
Positions: 93 · prev 96
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%

Moves80 since the prior filing

+6.0 pp in · −6.0 pp out

New 2 +1.80 pp
Added 36 +4.24 pp
Trimmed 37 −2.77 pp
Exited 5 −3.22 pp

The book

Focused · behaves like 37 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 26% a year, about 3.9 years per position

Low
Moderate
High

Top 5 positions22% of US stock

Positions93 in this filing · 5 exited


MSFTMicrosoft Corp	6.63%	147,400	$47M	trimmed−1%	−0.37 pp	42 q
JPMJPMorgan Chase & Co.	4.40%	212,678	$31M	trimmed−1%	+0.09 pp	42 q
CMCSAComcast Corp	4.00%	633,261	$28M	trimmed−7%	+0.09 pp	32 q
CSCOCisco Systems, Inc. (DE)	3.79%	495,353	$27M	trimmed−7%	0.00 pp	42 q
ABBVAbbvie Inc.	3.43%	161,302	$24M	added0%	+0.44 pp	32 q
AAPLApple Inc.	3.41%	139,859	$24M	trimmed−2%	−0.41 pp	41 q
BNYBank of New York Mellon Corporation	3.28%	539,002	$23M	added+1%	−0.01 pp	10 q
QCOMQualcomm Inc	3.26%	205,905	$23M	added+1%	−0.07 pp	41 q
GILDGilead Sciences Inc	3.24%	303,854	$23M	added+1%	+0.05 pp	38 q
GOOGAlphabet Inc. Class C	3.23%	172,099	$23M	trimmed−1%	+0.34 pp	30 q
MSMorgan Stanley	3.17%	272,057	$22M	added+1%	−0.02 pp	42 q
CVSCvs Health Corporation	3.05%	306,314	$21M	added+1%	+0.15 pp	42 q
PNCPNC Financial Services Group	2.92%	166,676	$20M	trimmed−1%	+0.01 pp	19 q
USBU.S. Bancorp	2.91%	617,495	$20M	added+11%	+0.38 pp	14 q
AMZNAmazon.Com Inc	2.33%	128,615	$16M	trimmed−0%	+0.01 pp	20 q
AEPAmerican Electric Power Company, Inc.	2.30%	214,984	$16M	added+55%	+0.69 pp	8 q
APDAir Products & Chemicals, Inc.	2.24%	55,369	$16M	added0%	−0.04 pp	6 q
METAMeta Platforms, Inc. Class A	2.08%	48,549	$15M	trimmed−1%	+0.14 pp	21 q
GSGoldman Sachs Group Inc.	1.96%	42,406	$14M	added+2%	+0.10 pp	28 q
MDTMedtronic plc	1.87%	167,441	$13M	added+6%	−0.04 pp	7 q
HDHome Depot, Inc.	1.82%	42,346	$13M	added0%	+0.01 pp	5 q
0VQJLTe Connectivity Ltd	1.76%	100,006	$12M	trimmed−1%	−0.18 pp	42 q
UNPUnion Pacific Corp.	1.71%	59,010	$12M	added+1%	+0.06 pp	3 q
TXNTexas Instruments Incorporated	1.62%	71,557	$11M	added+20%	+0.14 pp	7 q
AMGNAmgen Inc	1.61%	42,020	$11M	trimmed−13%	+0.14 pp	11 q
TMOThermo Fisher Scientific, Inc.	1.60%	22,234	$11M	added0%	0.00 pp	42 q
FDXFedEx Corporation	1.55%	41,077	$11M	trimmed−27%	−0.38 pp	18 q
LHXL3Harris Technologies, Inc.	1.46%	58,756	$10M	added+62%	+0.48 pp	13 q
WFCWells Fargo & Co.	1.46%	250,394	$10M	trimmed−0%	−0.01 pp	42 q
MTBM&T Bank Corp.	1.44%	79,947	$10M	trimmed−15%	−0.16 pp	14 q
SBUXStarbucks Corp	1.40%	107,600	$10M	added+1%	−0.06 pp	6 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	1.36%	18,973	$10M	added×2.7	+0.89 pp	2 q
FISVFiserv, Inc.	1.31%	81,443	$9M	trimmed−1%	−0.12 pp	12 q
ZBHZimmer Biomet Holdings, Inc.	1.29%	80,713	$9M	added+33%	+0.07 pp	42 q
NEENextEra Energy, Inc.	1.28%	156,583	$9M	new	+1.28 pp	new
PYPLPayPal Holdings, Inc.	1.26%	151,708	$9M	trimmed−21%	−0.50 pp	7 q
GDGeneral Dynamics Corporation	1.17%	37,038	$8M	trimmed−0%	+0.07 pp	12 q
BDXBecton, Dickinson and Co.	1.07%	28,969	$7M	trimmed−26%	−0.36 pp	11 q
PARAParamount Global-class B	1.03%	558,199	$7M	added+34%	+0.11 pp	16 q
PFEPfizer Inc.	0.92%	194,235	$6M	added+71%	+0.35 pp	2 q
VYMVanguard High Dividend Yield ETF	0.77%	52,103	$5M	added+22%	+0.15 pp	14 q
EBAYeBay Inc	0.76%	121,088	$5M	trimmed−0%	+0.01 pp	21 q
VOOVanguard S&P 500 ETF	0.75%	13,320	$5M	trimmed−11%	−0.09 pp	9 q
VEAVanguard FTSE Developed Markets ETF	0.74%	118,668	$5M	added+19%	+0.10 pp	11 q
TSNTyson Foods, Inc.	0.62%	85,769	$4M	trimmed−53%	−0.65 pp	4 q
IWFiShares Russell 1000 Growth ETF	0.57%	15,112	$4M	added+12%	+0.06 pp	11 q
RTXRTX Corporation	0.52%	51,157	$4M	new	+0.52 pp	new
MDYState Street SPDR S&P MIDCAP 400 ETF Trust	0.36%	5,515	$3M	trimmed−2%	−0.01 pp	11 q
IWRiShares Russell Mid-Cap ETF	0.29%	29,120	$2M	added+32%	+0.07 pp	9 q
IWMiShares Russell 2000 ETF	0.27%	10,634	$2M	trimmed−2%	−0.01 pp	35 q
IJRiShares Core S&P Small-Cap ETF	0.19%	14,088	$1M	added+51%	+0.06 pp	10 q
TCHPT. Rowe Price Blue Chip Growth ETF	0.18%	46,005	$1M	added+37%	+0.05 pp	4 q
VWOVanguard FTSE Emerging Markets ETF	0.18%	32,368	$1M	added+6%	+0.01 pp	4 q
EFAiShares MSCI EAFE ETF	0.15%	15,177	$1M	trimmed−2%	0.00 pp	17 q
BRK.BBERKSHIRE HATHAWAY Class B	0.14%	2,714	$950,714	added+1%	+0.01 pp	42 q
IVViShares Core S&P 500 ETF	0.13%	2,090	$897,457	added+1%	0.00 pp	22 q
VUGVanguard Morningstar Growth ETF	0.12%	3,038	$827,169	trimmed−6%	−0.01 pp	17 q
GLDSPDR Gold Trust, SPDR Gold Shares	0.10%	3,966	$679,971	added+11%	+0.01 pp	8 q
VTIVanguard Morningstar Total Stock Market ETF	0.10%	3,417	$725,820	trimmed−67%	−0.22 pp	2 q
XOMExxon Mobil Corp	0.08%	4,513	$530,639	added0%	+0.01 pp	42 q
JNJJohnson & Johnson	0.08%	3,420	$532,665	trimmed−8%	0.00 pp	42 q
VIGVanguard Dividend Appreciation ETF	0.08%	3,660	$568,616	added0%	0.00 pp	14 q
AFLAflac Inc.	0.07%	6,201	$475,927	held	—	42 q
AXPAmerican Express Company	0.07%	3,228	$481,585	held	—	42 q
IWDiShares Russell 1000 Value ETF	0.07%	3,099	$470,490	added+28%	+0.02 pp	4 q
DHRDanaher Corporation	0.06%	1,703	$422,514	held	—	4 q
QQQInvesco QQQ Trust, Series 1	0.06%	1,083	$388,059	trimmed−51%	−0.05 pp	14 q
SDYState Street SPDR S&P Dividend ETF	0.06%	3,845	$442,213	trimmed−8%	−0.01 pp	22 q
GOOGLAlphabet Inc. Class A	0.05%	2,515	$329,113	added+9%	+0.01 pp	12 q
MRKMerck & Co., Inc.	0.05%	3,256	$335,205	trimmed−15%	−0.01 pp	42 q
PGProcter & Gamble Company	0.05%	2,265	$330,373	trimmed−18%	−0.01 pp	42 q
SPYXState Street SPDR S&P 500 Fossil Fuel Reserves Free ETF	0.05%	10,737	$372,896	trimmed−1%	0.00 pp	7 q
BMYBristol-Myers Squibb Co.	0.04%	5,440	$315,738	held	—	25 q
COSTCostco Wholesale Corp	0.04%	557	$314,683	added0%	0.00 pp	3 q
IEMGiShares Core MSCI Emerging Markets ETF	0.04%	5,999	$285,506	held	—	14 q
ESGDiShares Trust iShares ESG Aware MSCI EAFE ETF	0.04%	3,588	$248,038	held	—	7 q
LBAILakeland Bancorp Inc	0.04%	20,876	$263,455	held	—	12 q
MCDMcDonald's Corporation	0.04%	1,130	$297,687	trimmed−15%	−0.01 pp	3 q
NVDANvidia Corp	0.04%	573	$249,249	held	—	2 q
WMTWalmart Inc.	0.04%	1,715	$274,280	held	—	14 q
ACNAccenture PLC	0.04%	815	$250,295	held	—	3 q
BACBank of America Corporation	0.03%	7,400	$202,612	held	—	3 q
BABoeing Company	0.03%	1,136	$217,748	trimmed−26%	−0.01 pp	4 q
COFCapital One Financial	0.03%	2,414	$234,279	held	—	42 q
INTUIntuit Inc	0.03%	450	$229,923	held	—	3 q
NKENike, Inc.	0.03%	2,139	$204,531	held	—	3 q
XLKState Street Technology Select Sector SPDR ETF	0.03%	1,260	$206,552	trimmed−14%	−0.01 pp	3 q
TSLATesla, Inc.	0.03%	827	$206,932	trimmed−69%	−0.07 pp	11 q
VBVanguard Morningstar Small-Cap ETF	0.03%	1,077	$203,646	held	—	3 q
VVISA Inc.	0.03%	982	$225,870	held	—	3 q
MRKRMarker Therapeutics, Inc.	0.01%	15,000	$68,100	trimmed−63%	−0.01 pp	8 q
CGENCompugen Ltd	0.01%	109,656	$101,980	held	—	40 q
SKYXSKYX Platforms Corp.	0.00%	15,000	$21,300	held	—	5 q
BKNGBooking Holdings Inc.	—	−5,173	—	exited	−1.92 pp	—
unresolvedUnilever Spn.Adr 1:1	—	−152,125	—	exited	−1.09 pp	—
VXFVanguard Extended Market ETF	—	−5,315	—	exited	−0.11 pp	—
DCGODocGo Inc.	—	−55,805	—	exited	−0.07 pp	—
CLColgate-Palmolive Company	—	−2,650	—	exited	−0.03 pp	—