N-Q 1 matrix_value-nq.htm QUARTERLY NOTICE OF PORTFOLIO HOLDINGS

As filed with the Securities and Exchange Commission on May 26, 2017



UNITE STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549


 
FORM N-Q
 
 
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT
INVESTMENT COMPANY
 


Investment Company Act file number 811- 03758




MATRIX ADVISORS VALUE FUND, INC.



747 Third Avenue, 31st Floor, New York, NY 10017




David A. Katz
747 Third Avenue, 31st Floor
New York, NY 10017

1 (800) 366-6223

Copies to:

Carol Gehl
Godfrey & Kahn, S.C.
708 N. Water St.
Milwaukee, WI 53202


Date of fiscal year end: June 30, 2017



Date of reporting period:  March 31, 2017

Item 1. Schedule of Investments.
 
Matrix Advisors Value Fund, Inc.
  
Schedule of Investments
  
March 31, 2017 (Unaudited)
  
 
Shares
  
Value
  
       
COMMON STOCKS - 99.7%
      
Bank (Money Center): 4.7%
      
 
31,000
  
JPMorgan Chase & Co.
  
$
2,723,040
  
               
Bank (Processing): 2.1%
        
 
15,600
  
State Street Corp.
    
1,241,916
  
               
Bank (Regional): 2.0%
        
 
26,500
  
BB&T Corp.
    
1,184,550
  
               
Bank (Super Regional): 4.4%
        
 
46,000
  
Wells Fargo & Co.
    
2,560,360
  
               
Beverages: 2.3%
        
 
12,200
  
PepsiCo, Inc.
    
1,364,692
  
               
Biotechnology: 3.7%
        
 
31,500
  
Gilead Sciences, Inc.
    
2,139,480
  
               
Broadcasting/Cable Television: 2.7%
        
 
34,500
  
Viacom, Inc.
    
1,608,390
  
               
Computer and Peripherals: 1.3%
        
 
5,500
  
Apple, Inc.
    
790,130
  
               
Computer Software and Services: 5.3%
        
 
35,000
  
Microsoft Corp.
    
2,305,100
  
 
25,800
  
Symantec Corp.
    
791,544
  
           
3,096,644
  
Diversifed Operations: 6.5%
        
 
47,499
  
Johnson Controls International Plc
    
2,000,658
  
 
16,200
  
United Technologies Corp.
    
1,817,802
  
           
3,818,460
  
               
Drug: 2.8%
        
 
25,000
  
AbbVie, Inc.
    
1,629,000
  
               
Drug Store: 3.8%
        
 
28,500
  
CVS Health
    
2,237,250
  
               
Electrical Component: 3.4%
        
 
26,400
  
TE Connectivity Ltd.
    
1,968,120
  
               
Financial Services: 5.3%
        
 
17,900
  
American Express Co.
    
1,416,069
  
 
19,300
  
Capital One Financial Corp.
    
1,672,538
  
           
3,088,607
  
Household Products: 3.1%
        
 
20,200
  
The Procter & Gamble Co.
    
1,814,970
  
 
Insurance (Diversified): 3.8%
      
 
41,600
  
MetLife, Inc.
    
2,197,312
  
               
Insurance (Property Causulty): 3.1%
        
 
13,500
  
Chubb Ltd.
    
1,839,375
  
               
Internet Software & Services: 3.2%
        
 
2,250
  
Alphabet, Inc. - Class C *
    
1,866,510
  
               
Manufacturing - Miscellaneous: 4.0%
        
 
31,200
  
Eaton Corp Plc
    
2,313,480
  
               
Medical Supplies: 3.9%
        
 
18,500
  
Zimmer Biomet Holdings, Inc.
    
2,259,035
  
               
Motorcycles/Motor Scooter: 2.6%
        
 
25,000
  
Harley-Davidson, Inc.
    
1,512,500
  
               
Oil & Gas Services: 2.8%
        
 
20,900
  
Schlumberger Ltd.
    
1,632,290
  
               
Oil/Gas (Domestic): 3.3%
        
 
45,800
  
Devon Energy Corp.
    
1,910,776
  
               
Petroleum (Integrated): 2.7%
        
 
14,500
  
Chevron Corp.
    
1,556,865
  
               
Petroleum (Producing): 5.1%
        
 
26,900
  
ConocoPhillips
    
1,341,503
  
 
26,000
  
Occidental Petroleum Corp.
    
1,647,360
  
           
2,988,863
  
               
Precision Instruments: 2.7%
        
 
10,400
  
Thermo Fisher Scientific, Inc.
    
1,597,440
  
               
Securities Brokerage: 2.0%
        
 
27,000
  
Morgan Stanley
    
1,156,680
  
               
Telecommunications (Equipment): 7.1%
        
 
67,000
  
Cisco Systems, Inc.
    
2,264,600
  
 
33,000
  
QUALCOMM, Inc.
    
1,892,220
  
           
4,156,820
  
             
TOTAL COMMON STOCKS (Cost $42,682,622)
  
$
58,253,555
  
               
SHORT-TERM INVESTMENTS - 0.3%
        
 
178,291
  
Fidelity Institutional Money Market Funds - Government Portfolio
    
178,291
  
               
TOTAL SHORT-TERM INVESTMENTS (Cost $178,291)
  
$
178,291
  
               
               
TOTAL INVESTMENTS (Cost $42,860,913): 100.0%
    
58,431,846
  
Liabilities in Excess of Other Assets: 0.0%
    
(16,413)
 
TOTAL NET ASSETS: 100.0%
  
$
58,415,433
  
 
 
* Non-Income Producing
  
 
       
The cost basis of investment for federal income tax purposes at March 31, 2017, was as follows+:
  
 
Cost of investments
  
$
42,860,913
  
Gross unrealized appreciation
    
17,644,951
  
Gross unrealized depreciation
    
(2,074,018)
 
Net unrealized appreciation
  
$
15,570,933
  
 
+Because tax adjustments are calculated annually at the end of the Fund's fiscal year, the above table does not reflect tax
adjustments for the current fiscal year.  For the previous fiscal year's federal income tax information, please refer to the
Notes to Financial Statements section in the Fund's most recent semi-annual or annual report.
  
       

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                               
The Fund follows a fair value hierarchy that distinguishes between market data obtained from independent sources (observable inputs) and the Fund's own
market assumptions (unobservable inputs). These inputs are used in determining the value of each Fund's investments and are summarized in the following
fair value hierarchy:
                               
Level 1 -
Unadjusted quoted prices in active markets for identical assets or liabilities that the company has the ability to access.
                               
Level 2 -
Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These
inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayments
speeds, credit risk, yield curves, default rates and similar data.
                               
Level 3 -
Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the company's own
assumptions about the assumption a market participant would use in valuing the asset or liability, and would be based on the best information available.
                               
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
 
The following is a summary of the inputs used to value the Funds' net assets as of March 31, 2017:
 
   
Quoted prices in active markets for identical assets (Level 1)
    
Significant other observable inputs (Level 2)
    
Significant unobservable inputs (Level 3)
      
     
     
Description
 
Total
Equity
  
 
    
 
    
 
    
 
    Common Stock *
$
58,253,555
    
$
-
    
$
-
    
$
56,481,399
Total Equity
  
$
58,253,555
    
$
-
    
$
-
    
$
56,481,399
Short-Term Investments
$
178,291
    
$
-
    
$
-
    
$
486,227
Total Investments in Securities
$
58,431,846
    
$
-
    
$
-
    
$
56,967,626
                               
* Refer to the Schedule of Investments for a breakout of common stocks by industry classification.
There were no transfers between Level 1, Level 2, or Level 3.
                        
                               
 
Item 2. Controls and Procedures.
 
(a)
The Registrant's President and Treasurer have concluded that the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the "1940 Act")) (17 CFR 270.30a-3(c)) are effective as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or Rule 15d‑15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(d)).

(b)
There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) (17 CFR 270.30a-3(d)) that occurred during the Registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.


 
Item 3. Exhibits.
 
Separate certifications for each principal executive officer and principal financial officer of the Registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)).  Filed herewith.
 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


(Registrant) Matrix Advisors Value Fund, Inc.                                      
 

By (Signature and Title)* /s/ David A. Katz                                             
                                             David A. Katz, President and Treasurer

Date May 24, 2017                                                                                       

 
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.


By (Signature and Title)* /s/ David A. Katz                                             
                                             David A. Katz, President and Treasurer

 
Date May 24, 2017