Matrix Asset Advisors

Q2 2025 13F · by David Katz, CIO

As of: Jun 30, 2025
Filed: Aug 13, 2025
US stock: $988M · prev $906M
Positions: 108 · prev 105
Options notional: $0
Documents: 1· 1 amendment

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%

Moves93 since the prior filing

+4.7 pp in · −4.6 pp out

New 6 +1.24 pp
Added 58 +3.45 pp
Trimmed 26 −1.40 pp
Exited 3 −3.17 pp

The book

Focused · behaves like 37 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 24% a year, about 4.1 years per position

Low
Moderate
High

Top 5 positions23% of US stock

Revealed late, restated

restated 0 rows corrected by the filer · US stock 0.00%; later quarters recomputed 13F-HR/A · Aug 13, 2025 ↗

Positions108 in this filing · 3 exited


MSFTMicrosoft Corp	7.15%	142,135	$71M	trimmed−1%	+1.22 pp	49 q
MAVFMatrix Advisors Value ETF	4.46%	412,454	$44M	trimmed−2%	−0.04 pp	2 q
JPMJPMorgan Chase & Co.	4.08%	139,183	$40M	trimmed−4%	+0.17 pp	49 q
MSMorgan Stanley	3.84%	269,515	$38M	added+4%	+0.49 pp	49 q
PNCPNC Financial Services Group	3.59%	190,265	$35M	added+13%	+0.33 pp	26 q
QCOMQualcomm Inc	3.35%	207,733	$33M	added+9%	+0.12 pp	48 q
USBU.S. Bancorp	3.27%	713,934	$32M	added+8%	+0.18 pp	21 q
MDTMedtronic plc	3.26%	369,181	$32M	added+2%	−0.33 pp	14 q
AAPLApple Inc.	3.08%	148,576	$30M	added+5%	−0.40 pp	48 q
CMCSAComcast Corp	2.97%	822,810	$29M	added+13%	+0.01 pp	39 q
PEPPepsiCo, Inc.	2.95%	220,465	$29M	added+60%	+0.66 pp	6 q
GOOGAlphabet Inc. Class C	2.93%	163,345	$29M	added+3%	+0.19 pp	37 q
AMGNAmgen Inc	2.87%	101,598	$28M	added+4%	−0.48 pp	18 q
AMZNAmazon.Com Inc	2.80%	126,032	$28M	added+5%	+0.29 pp	27 q
BNYBank of New York Mellon Corporation	2.65%	287,266	$26M	trimmed−29%	−1.07 pp	17 q
TXNTexas Instruments Incorporated	2.13%	101,233	$21M	added+7%	+0.25 pp	14 q
METAMeta Platforms, Inc. Class A	2.11%	28,206	$21M	trimmed−4%	+0.23 pp	28 q
GSGoldman Sachs Group Inc.	2.07%	28,974	$21M	trimmed−5%	+0.24 pp	35 q
AEPAmerican Electric Power Company, Inc.	2.00%	190,857	$20M	trimmed−17%	−0.77 pp	15 q
SBUXStarbucks Corp	1.90%	204,713	$19M	added+26%	+0.14 pp	13 q
NEENextEra Energy, Inc.	1.87%	266,053	$18M	added+4%	−0.12 pp	8 q
PYPLPayPal Holdings, Inc.	1.82%	242,629	$18M	added+8%	+0.20 pp	14 q
WFCWells Fargo & Co.	1.78%	219,799	$18M	trimmed−1%	+0.02 pp	49 q
HDHome Depot, Inc.	1.77%	47,617	$17M	added+2%	−0.12 pp	12 q
MTBM&T Bank Corp.	1.70%	86,836	$17M	added0%	−0.01 pp	21 q
UNPUnion Pacific Corp.	1.63%	69,866	$16M	added+1%	−0.18 pp	10 q
TGTTarget Corporation	1.58%	158,229	$16M	added×2.7	+0.90 pp	2 q
LHXL3Harris Technologies, Inc.	1.40%	55,261	$14M	trimmed−2%	+0.10 pp	20 q
VOOVanguard S&P 500 ETF	1.40%	24,444	$14M	added+9%	+0.13 pp	16 q
LOWLowe's Companies Inc.	1.35%	60,276	$13M	added+54%	+0.34 pp	5 q
TELTE Connectivity plc	1.33%	77,962	$13M	trimmed−12%	−0.06 pp	4 q
FDXFedEx Corporation	1.26%	54,682	$12M	added+12%	−0.05 pp	25 q
VEAVanguard FTSE Developed Markets ETF	1.20%	208,795	$12M	trimmed−1%	+0.02 pp	18 q
ZBHZimmer Biomet Holdings, Inc.	1.17%	126,923	$12M	trimmed−3%	−0.47 pp	49 q
VYMVanguard High Dividend Yield ETF	1.16%	86,061	$11M	added+11%	+0.05 pp	21 q
CSCOCisco Systems, Inc. (DE)	1.13%	161,264	$11M	trimmed−42%	−0.76 pp	49 q
TSNTyson Foods, Inc.	1.13%	199,766	$11M	added+1%	−0.26 pp	6 q
GDGeneral Dynamics Corporation	1.06%	36,088	$11M	added+7%	+0.05 pp	19 q
IWFiShares Russell 1000 Growth ETF	0.99%	22,995	$10M	added+10%	+0.16 pp	18 q
GNRCGenerac Holdings Inc	0.97%	66,772	$10M	added×2.9	+0.64 pp	2 q
AMATApplied Materials Inc	0.95%	51,071	$9M	new	+0.95 pp	new
TMOThermo Fisher Scientific, Inc.	0.88%	21,377	$9M	added+36%	+0.02 pp	49 q
ABBVAbbvie Inc.	0.72%	38,511	$7M	trimmed−2%	−0.18 pp	39 q
IJRiShares Core S&P Small-Cap ETF	0.61%	54,818	$6M	added+13%	+0.05 pp	17 q
BRK.BBERKSHIRE HATHAWAY Class B	0.57%	11,591	$6M	held	—	49 q
IWRiShares Russell Mid-Cap ETF	0.54%	57,927	$5M	added+1%	0.00 pp	16 q
MDYState Street SPDR S&P MIDCAP 400 ETF Trust	0.36%	6,200	$4M	trimmed−4%	−0.02 pp	18 q
TCHPT. Rowe Price Blue Chip Growth ETF	0.30%	64,641	$3M	added+4%	+0.04 pp	11 q
BACBank of America Corporation	0.28%	57,933	$3M	added0%	+0.01 pp	10 q
VTVVanguard Morningstar Value ETF	0.26%	14,272	$3M	added+50%	+0.08 pp	7 q
IWMiShares Russell 2000 ETF	0.24%	10,847	$2M	added+1%	0.00 pp	42 q
IVViShares Core S&P 500 ETF	0.20%	3,237	$2M	added+3%	+0.01 pp	29 q
VWOVanguard FTSE Emerging Markets ETF	0.20%	40,492	$2M	added+1%	0.00 pp	11 q
FISVFiserv, Inc.	0.17%	9,711	$2M	new	+0.17 pp	new
EFAiShares MSCI EAFE ETF	0.14%	15,783	$1M	added+7%	+0.01 pp	24 q
VUGVanguard Morningstar Growth ETF	0.14%	3,131	$1M	added+2%	+0.01 pp	24 q
NVDANvidia Corp	0.13%	8,421	$1M	trimmed−23%	0.00 pp	9 q
IWDiShares Russell 1000 Value ETF	0.12%	6,200	$1M	held	—	11 q
AXPAmerican Express Company	0.10%	3,216	$1M	added+1%	+0.01 pp	49 q
VTIVanguard Morningstar Total Stock Market ETF	0.10%	3,134	$952,538	added+2%	+0.01 pp	9 q
QQQInvesco QQQ Trust, Series 1	0.08%	1,371	$756,613	added+2%	+0.01 pp	21 q
VOVanguard Morningstar Mid-Cap ETF	0.08%	2,760	$772,583	added+86%	+0.04 pp	7 q
AFLAflac Inc.	0.07%	6,222	$656,167	added0%	−0.01 pp	49 q
GOOGLAlphabet Inc. Class A	0.07%	3,888	$685,247	added+18%	+0.01 pp	19 q
COFCapital One Financial	0.07%	3,196	$679,981	added+32%	+0.02 pp	49 q
SPYXState Street SPDR S&P 500 Fossil Fuel Reserves Free ETF	0.07%	13,348	$679,848	held	—	14 q
VIGVanguard Dividend Appreciation ETF	0.07%	3,476	$711,464	added0%	0.00 pp	21 q
COSTCostco Wholesale Corp	0.06%	573	$567,483	held	—	10 q
ESGDiShares Trust iShares ESG Aware MSCI EAFE ETF	0.06%	6,378	$569,045	trimmed−2%	0.00 pp	14 q
JNJJohnson & Johnson	0.06%	3,595	$549,136	added+7%	0.00 pp	49 q
SDYState Street SPDR S&P Dividend ETF	0.06%	4,062	$551,345	added+6%	0.00 pp	29 q
XOMExxon Mobil Corp	0.05%	4,855	$523,419	added+2%	−0.01 pp	49 q
SCHDSchwab US Dividend Equity ETF	0.05%	19,571	$518,653	added0%	−0.01 pp	2 q
CVSCvs Health Corporation	0.04%	6,228	$429,607	added+1%	−0.01 pp	49 q
INTUIntuit Inc	0.04%	450	$354,434	held	—	10 q
NUENucor Corporation	0.04%	2,698	$349,499	held	—	4 q
PGProcter & Gamble Company	0.04%	2,405	$383,093	trimmed−4%	−0.01 pp	49 q
VVISA Inc.	0.04%	1,133	$402,400	added+17%	0.00 pp	10 q
WMTWalmart Inc.	0.04%	4,316	$422,024	added+2%	0.00 pp	21 q
ASTSAST SpaceMobile, Inc. Class A	0.03%	5,900	$275,707	new	+0.03 pp	new
APHAmphenol Corporation	0.03%	3,056	$301,780	held	—	3 q
AVGOBroadcom Inc.	0.03%	1,092	$301,010	new	+0.03 pp	new
DHRDanaher Corporation	0.03%	1,703	$336,411	held	—	11 q
IBMInternational Business Machines Corporation	0.03%	840	$247,669	trimmed−26%	0.00 pp	4 q
QQQMInvesco NASDAQ 100 ETF	0.03%	1,520	$345,192	held	—	2 q
IJHiShares Core S&P Mid-Cap ETF	0.03%	5,511	$341,792	new	+0.03 pp	new
IWNiShares Russell 2000 Value ETF	0.03%	1,765	$278,446	held	—	4 q
IEMGiShares Core MSCI Emerging Markets ETF	0.03%	4,978	$298,877	added+3%	0.00 pp	21 q
LLYEli Lilly & Co.	0.03%	325	$253,604	trimmed−4%	0.00 pp	6 q
MCDMcDonald's Corporation	0.03%	1,084	$316,609	added0%	−0.01 pp	10 q
PLTRPalantir Technologies Inc. Class A	0.03%	2,313	$315,308	new	+0.03 pp	new
GLDSPDR Gold Trust, SPDR Gold Shares	0.03%	955	$291,113	added+18%	0.00 pp	15 q
SPYGState Street SPDR Portfolio S&P 500 Growth ETF	0.03%	2,998	$285,769	trimmed−4%	0.00 pp	7 q
XLKState Street Technology Select Sector SPDR ETF	0.03%	1,150	$291,215	held	—	10 q
VBVanguard Morningstar Small-Cap ETF	0.03%	1,147	$271,893	trimmed−2%	0.00 pp	10 q
PARAParamount Global-class B	0.03%	22,890	$295,281	trimmed−7%	0.00 pp	23 q
ETNEaton Corporation, plc	0.03%	862	$307,725	held	—	7 q
BMYBristol-Myers Squibb Co.	0.02%	4,729	$218,905	added+16%	−0.01 pp	32 q
CLColgate-Palmolive Company	0.02%	2,383	$216,615	trimmed−7%	−0.01 pp	7 q
DCGODocGo Inc.	0.02%	100,000	$157,000	held	—	3 q
IWBiShares Russell 1000 ETF	0.02%	722	$245,495	held	—	6 q
MRKMerck & Co., Inc.	0.02%	2,915	$230,751	trimmed−1%	−0.01 pp	49 q
PMPhilip Morris International Inc.	0.02%	1,229	$223,838	trimmed−10%	0.00 pp	2 q
SKYXSKYX Platforms Corp.	0.02%	201,666	$210,741	added+27%	0.00 pp	12 q
AONAon plc Class A	0.02%	648	$231,180	held	—	3 q
ACNAccenture PLC	0.02%	795	$237,618	held	—	10 q
CGENCompugen Ltd	0.02%	93,833	$167,023	held	—	47 q
MRKRMarker Therapeutics, Inc.	0.00%	15,000	$22,950	held	—	15 q
DGDollar General Corp.	—	−131,801	—	exited	−1.28 pp	—
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	—	−17,384	—	exited	−1.00 pp	—
PFEPfizer Inc.	—	−318,813	—	exited	−0.89 pp	—