Matrix Asset Advisors

Q1 2025 13F · by David Katz, CIO

As of: Mar 31, 2025
Filed: Apr 22, 2025
US stock: $906M · prev $916M
Positions: 105 · prev 110
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%

Moves101 since the prior filing

+10.7 pp in · −10.7 pp out

New 6 +5.62 pp
Added 42 +5.13 pp
Trimmed 42 −7.04 pp
Exited 11 −3.71 pp

The book

Focused · behaves like 39 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 42% a year, about 2.4 years per position

Low
Moderate
High

Top 5 positions22% of US stock

Positions105 in this filing · 11 exited


MSFTMicrosoft Corp	5.93%	143,085	$54M	added+1%	−0.57 pp	48 q
MAVFMatrix Advisors Value ETF	4.50%	422,381	$41M	new	+4.50 pp	new
JPMJPMorgan Chase & Co.	3.91%	144,561	$35M	trimmed−11%	−0.33 pp	48 q
BNYBank of New York Mellon Corporation	3.72%	402,272	$34M	trimmed−18%	−0.39 pp	16 q
MDTMedtronic plc	3.59%	362,252	$33M	added+12%	+0.76 pp	13 q
AAPLApple Inc.	3.48%	142,117	$32M	trimmed−0%	−0.42 pp	47 q
AMGNAmgen Inc	3.35%	97,314	$30M	added+5%	+0.70 pp	17 q
MSMorgan Stanley	3.35%	260,351	$30M	trimmed−7%	−0.50 pp	48 q
PNCPNC Financial Services Group	3.26%	168,140	$30M	trimmed−0%	−0.29 pp	25 q
QCOMQualcomm Inc	3.23%	190,697	$29M	added+9%	+0.31 pp	47 q
USBU.S. Bancorp	3.09%	662,406	$28M	added+7%	−0.16 pp	20 q
CMCSAComcast Corp	2.96%	728,041	$27M	added0%	−0.02 pp	38 q
AEPAmerican Electric Power Company, Inc.	2.77%	229,597	$25M	trimmed−0%	+0.46 pp	14 q
GOOGAlphabet Inc. Class C	2.74%	159,189	$25M	trimmed−2%	−0.63 pp	36 q
AMZNAmazon.Com Inc	2.51%	119,490	$23M	trimmed−1%	−0.38 pp	26 q
PEPPepsiCo, Inc.	2.29%	138,122	$21M	added×2.1	+1.22 pp	5 q
NEENextEra Energy, Inc.	1.99%	254,623	$18M	added+10%	+0.17 pp	7 q
CSCOCisco Systems, Inc. (DE)	1.89%	278,277	$17M	trimmed−49%	−1.64 pp	48 q
HDHome Depot, Inc.	1.89%	46,771	$17M	added+3%	−0.05 pp	11 q
METAMeta Platforms, Inc. Class A	1.88%	29,531	$17M	trimmed−22%	−0.55 pp	27 q
TXNTexas Instruments Incorporated	1.88%	94,988	$17M	added+9%	+0.09 pp	13 q
GSGoldman Sachs Group Inc.	1.83%	30,429	$17M	trimmed−11%	−0.32 pp	34 q
UNPUnion Pacific Corp.	1.81%	69,410	$16M	added+1%	+0.10 pp	9 q
SBUXStarbucks Corp	1.76%	162,861	$16M	trimmed−21%	−0.30 pp	12 q
WFCWells Fargo & Co.	1.76%	221,785	$16M	trimmed−2%	+0.02 pp	48 q
MTBM&T Bank Corp.	1.71%	86,827	$16M	added0%	−0.07 pp	20 q
ZBHZimmer Biomet Holdings, Inc.	1.64%	131,096	$15M	added+45%	+0.60 pp	48 q
PYPLPayPal Holdings, Inc.	1.62%	225,281	$15M	added+5%	−0.38 pp	13 q
TSNTyson Foods, Inc.	1.39%	197,054	$13M	added+17%	+0.34 pp	5 q
TELTE Connectivity plc	1.39%	88,985	$13M	trimmed−4%	−0.06 pp	3 q
FDXFedEx Corporation	1.31%	48,633	$12M	trimmed−2%	−0.21 pp	24 q
LHXL3Harris Technologies, Inc.	1.30%	56,360	$12M	added0%	+0.01 pp	19 q
DGDollar General Corp.	1.28%	131,801	$12M	added+62%	+0.61 pp	2 q
VOOVanguard S&P 500 ETF	1.27%	22,355	$11M	added+11%	+0.09 pp	15 q
VEAVanguard FTSE Developed Markets ETF	1.18%	210,131	$11M	added+1%	+0.10 pp	17 q
VYMVanguard High Dividend Yield ETF	1.11%	77,860	$10M	added+13%	+0.15 pp	20 q
GDGeneral Dynamics Corporation	1.01%	33,644	$9M	added+32%	+0.27 pp	18 q
LOWLowe's Companies Inc.	1.01%	39,070	$9M	added×2.7	+0.62 pp	4 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	1.00%	17,384	$9M	trimmed−0%	+0.04 pp	8 q
ABBVAbbvie Inc.	0.90%	39,119	$8M	trimmed−62%	−1.12 pp	38 q
PFEPfizer Inc.	0.89%	318,813	$8M	added+26%	+0.16 pp	8 q
TMOThermo Fisher Scientific, Inc.	0.86%	15,712	$8M	trimmed−19%	−0.25 pp	48 q
IWFiShares Russell 1000 Growth ETF	0.83%	20,850	$8M	added+4%	−0.05 pp	17 q
BRK.BBERKSHIRE HATHAWAY Class B	0.68%	11,591	$6M	trimmed−8%	+0.06 pp	48 q
TGTTarget Corporation	0.68%	59,175	$6M	new	+0.68 pp	new
IJRiShares Core S&P Small-Cap ETF	0.56%	48,668	$5M	added+15%	+0.03 pp	16 q
IWRiShares Russell Mid-Cap ETF	0.54%	57,382	$5M	added+5%	+0.01 pp	15 q
MDYState Street SPDR S&P MIDCAP 400 ETF Trust	0.38%	6,469	$3M	trimmed−1%	−0.03 pp	17 q
GNRCGenerac Holdings Inc	0.33%	23,390	$3M	new	+0.33 pp	new
BACBank of America Corporation	0.27%	57,932	$2M	trimmed−9%	−0.04 pp	9 q
TCHPT. Rowe Price Blue Chip Growth ETF	0.26%	62,124	$2M	added+3%	−0.02 pp	10 q
IWMiShares Russell 2000 ETF	0.24%	10,715	$2M	added+1%	−0.02 pp	41 q
VWOVanguard FTSE Emerging Markets ETF	0.20%	40,129	$2M	trimmed−7%	−0.01 pp	10 q
IVViShares Core S&P 500 ETF	0.19%	3,143	$2M	trimmed−4%	−0.02 pp	28 q
VTVVanguard Morningstar Value ETF	0.18%	9,494	$2M	added+73%	+0.08 pp	6 q
EFAiShares MSCI EAFE ETF	0.13%	14,764	$1M	trimmed−4%	0.00 pp	23 q
IWDiShares Russell 1000 Value ETF	0.13%	6,200	$1M	trimmed−6%	0.00 pp	10 q
NVDANvidia Corp	0.13%	10,896	$1M	added+24%	0.00 pp	8 q
VUGVanguard Morningstar Growth ETF	0.13%	3,069	$1M	trimmed−2%	−0.01 pp	23 q
AXPAmerican Express Company	0.09%	3,187	$857,464	held	—	48 q
VTIVanguard Morningstar Total Stock Market ETF	0.09%	3,084	$847,626	trimmed−10%	−0.02 pp	8 q
AFLAflac Inc.	0.08%	6,211	$690,612	added0%	+0.01 pp	48 q
QQQInvesco QQQ Trust, Series 1	0.07%	1,348	$632,395	added+6%	0.00 pp	20 q
SPYXState Street SPDR S&P 500 Fossil Fuel Reserves Free ETF	0.07%	13,348	$610,695	trimmed−5%	0.00 pp	13 q
VIGVanguard Dividend Appreciation ETF	0.07%	3,467	$672,593	added0%	0.00 pp	20 q
GOOGLAlphabet Inc. Class A	0.06%	3,307	$511,444	added+11%	0.00 pp	18 q
COSTCostco Wholesale Corp	0.06%	573	$542,075	trimmed−36%	−0.03 pp	9 q
XOMExxon Mobil Corp	0.06%	4,762	$566,305	added+8%	+0.01 pp	48 q
ESGDiShares Trust iShares ESG Aware MSCI EAFE ETF	0.06%	6,523	$532,864	trimmed−1%	+0.01 pp	13 q
JNJJohnson & Johnson	0.06%	3,375	$559,710	held	—	48 q
SDYState Street SPDR S&P Dividend ETF	0.06%	3,817	$517,960	trimmed−1%	0.00 pp	28 q
SCHDSchwab US Dividend Equity ETF	0.06%	19,557	$546,839	new	+0.06 pp	new
CVSCvs Health Corporation	0.05%	6,175	$418,356	held	—	48 q
COFCapital One Financial	0.05%	2,414	$432,830	held	—	48 q
PGProcter & Gamble Company	0.05%	2,495	$425,243	added+14%	+0.01 pp	48 q
DHRDanaher Corporation	0.04%	1,703	$349,115	held	—	10 q
MCDMcDonald's Corporation	0.04%	1,080	$337,429	added0%	+0.01 pp	9 q
NUENucor Corporation	0.04%	2,698	$324,677	held	—	3 q
VOVanguard Morningstar Mid-Cap ETF	0.04%	1,483	$383,766	added+11%	0.00 pp	6 q
VVISA Inc.	0.04%	969	$339,629	held	—	9 q
WMTWalmart Inc.	0.04%	4,241	$372,323	trimmed−12%	−0.01 pp	20 q
BMYBristol-Myers Squibb Co.	0.03%	4,092	$249,571	trimmed−25%	0.00 pp	31 q
CLColgate-Palmolive Company	0.03%	2,549	$238,841	trimmed−1%	0.00 pp	6 q
DCGODocGo Inc.	0.03%	100,000	$264,000	held	—	2 q
IBMInternational Business Machines Corporation	0.03%	1,129	$280,649	added0%	0.00 pp	3 q
INTUIntuit Inc	0.03%	450	$276,296	trimmed−36%	−0.02 pp	9 q
QQQMInvesco NASDAQ 100 ETF	0.03%	1,520	$293,390	new	+0.03 pp	new
IWNiShares Russell 2000 Value ETF	0.03%	1,765	$266,480	held	—	3 q
IEMGiShares Core MSCI Emerging Markets ETF	0.03%	4,827	$260,559	trimmed−2%	0.00 pp	20 q
LLYEli Lilly & Co.	0.03%	340	$281,029	added+13%	0.00 pp	5 q
MRKMerck & Co., Inc.	0.03%	2,946	$264,433	added+3%	0.00 pp	48 q
GLDSPDR Gold Trust, SPDR Gold Shares	0.03%	808	$232,817	trimmed−16%	0.00 pp	14 q
SPYGState Street SPDR Portfolio S&P 500 Growth ETF	0.03%	3,138	$252,201	trimmed−8%	0.00 pp	6 q
XLKState Street Technology Select Sector SPDR ETF	0.03%	1,150	$237,452	trimmed−3%	0.00 pp	9 q
VBVanguard Morningstar Small-Cap ETF	0.03%	1,169	$259,297	held	—	9 q
PARAParamount Global-class B	0.03%	24,555	$273,764	added+27%	+0.01 pp	22 q
AONAon plc Class A	0.03%	648	$258,610	trimmed−6%	0.00 pp	2 q
ACNAccenture PLC	0.03%	795	$248,072	trimmed−52%	−0.03 pp	9 q
ETNEaton Corporation, plc	0.03%	862	$234,317	trimmed−36%	−0.02 pp	6 q
APHAmphenol Corporation	0.02%	3,056	$200,443	held	—	2 q
IWBiShares Russell 1000 ETF	0.02%	722	$221,582	held	—	5 q
PMPhilip Morris International Inc.	0.02%	1,362	$216,190	new	+0.02 pp	new
SKYXSKYX Platforms Corp.	0.02%	158,333	$180,500	held	—	11 q
CGENCompugen Ltd	0.02%	93,833	$136,996	held	—	46 q
MRKRMarker Therapeutics, Inc.	0.00%	15,000	$18,450	held	—	14 q
GILDGilead Sciences Inc	—	−163,338	—	exited	−1.65 pp	—
RTXRTX Corporation	—	−69,897	—	exited	−0.88 pp	—
FISVFiserv, Inc.	—	−31,264	—	exited	−0.70 pp	—
HUMHumana Inc.	—	−6,598	—	exited	−0.18 pp	—
BDXBecton, Dickinson and Co.	—	−4,679	—	exited	−0.12 pp	—
TSLATesla, Inc.	—	−833	—	exited	−0.04 pp	—
ADPAutomatic Data Processing	—	−1,090	—	exited	−0.03 pp	—
AVGOBroadcom Inc.	—	−1,060	—	exited	−0.03 pp	—
LMTLockheed Martin Corp.	—	−526	—	exited	−0.03 pp	—
PFSProvident Financial Services, Inc.	—	−13,623	—	exited	−0.03 pp	—
HONHoneywell International, Inc.	—	−909	—	exited	−0.02 pp	—