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Matrix Asset Advisors
Matrix Asset Advisors launched in 1986 under founder and current President/CIO David A. Katz, CFA. Headquartered in White Plains, New York, the firm operates...
Matrix Asset Advisors
Matrix Asset Advisors launched in 1986 under founder and current President/CIO David A. Katz, CFA. Headquartered in White Plains, New York, the firm operates as a registered investment adviser serving individuals, families, endowments, foundations, and retirement plans. The firm has remained 100% employee-owned since inception, with all investment professionals maintaining significant personal capital alongside clients. The firm runs two primary equity strategies, both built on a Graham-and-Dodd value philosophy. Equity portfolios hold 20–40 high-conviction names selected through fundamental research, targeting what the firm calls “better companies in better industries with superior management teams.” On the fixed-income side, Matrix constructs customized bond portfolios emphasizing high-quality issuers and short- to intermediate-term maturities for current income with low principal risk. Clients access these strategies through separately managed accounts — with an optional ESG overlay — or via the firm’s no-load mutual funds. For broader diversification, Matrix also builds managed portfolios using active and passive mutual funds and ETFs. Matrix fields a compact investment team of eight partners, including Katz, Lon F. Birnholz, Sherri Hurwitz, Lisa A. Mabel, Jordan F. Posner, Steven G. Roukis, CFA, Jonathan Tom, CFA, and Stephan J. Weinberger, CFA. The firm publishes quarterly strategy fact sheets for its equity and fixed-income strategies. While AUM is not publicly disclosed, the firm’s size — and its explicit claim that its scale allows it to be “opportunistic” — suggests a boutique capable of moving nimbly within mid- and small-cap value mandates. Matrix’s structural differentiator is its combination of 100% employee ownership and Graham-Dodd value orthodoxy in a boutique setting. The equity sleeves are deliberately concentrated, the firm can “go anywhere for value,” and every partner has skin in the game. That alignment is rarely codified this explicitly in an RIA of Matrix’s vintage.
General information
Firm type
Bank / Wealth / Trust
Year founded
1986
AUM
Undisclosed
Location
Region
North America
Country
United States
City
White Plains
Corporate office
White Plains, NY 10606, United States
Principals
David A. Katz
President, CIO
Lon F. Birnholz
Partner
Sherri Hurwitz
Partner
Lisa A. Mabel
Partner
Jordan F. Posner
Partner
Steven G. Roukis
Partner
Jonathan Tom
Partner
Stephan J. Weinberger
Partner
Sector focus
Frequently asked questions
Who runs investment decisions at Matrix Asset Advisors?
David A. Katz, CFA, serves as President and Chief Investment Officer and has led the firm since founding it in 1986. The investment team includes seven additional partners, all of whom are named on the firm’s website. Katz’s philosophy is rooted in the Graham-and-Dodd value tradition, and the firm cites his continuous leadership as central to its investment process.
How does Matrix source investment ideas?
The firm describes a fundamental, research-driven approach to security selection shaped by a value orientation. Because Matrix’s equity portfolios are concentrated at 20–40 positions and it explicitly states it will “go anywhere for value,” idea generation likely relies on internal analysis across sectors rather than a thematic or indexing-driven screen. The site does not detail a sourcing channel beyond internal research.
Does Matrix Asset Advisors operate mutual funds or only separately managed accounts?
Matrix offers both. Its value equity and fixed-income strategies are available as separately managed accounts, and it maintains no-load mutual funds for clients who prefer a pooled vehicle. The firm also builds broader managed portfolios using active and passive mutual funds and ETFs for clients seeking more diversification.
Is there an ESG option within Matrix’s strategies?
Yes. The firm states that its separately managed account strategies can incorporate an ESG overlay for clients who request it. The website does not detail the specific screening methodology or whether the overlay uses exclusionary or best-in-class criteria.
What is Matrix’s fixed-income approach?
Matrix manages customized US bond portfolios that prioritize high-quality issuers and short- to intermediate-term maturities. The stated goal is to generate current income with very low principal risk, consistent with the firm’s broader value-oriented, risk-conscious philosophy.
Are Matrix’s employees invested alongside clients?
Yes. The firm emphasizes that it is 100% employee-owned and that the investment team holds significant personal capital alongside its clients. This alignment is a structural feature, not a temporary co-investment window.
What types of clients does Matrix serve?
The firm lists individuals, families, endowments, foundations, and retirement plans as its client base. It does not segment by minimum account size on the public website, and no separate institutional vehicle is described beyond the mutual funds and SMAs.
How does Matrix tie its investment philosophy to a specific lineage?
The firm explicitly attributes its foundation to the precepts of Benjamin Graham and David Dodd — a value tradition that emphasizes margin of safety, fundamental analysis, and long-term discipline. It describes its equity portfolios as high-conviction and research-based, which reflects that lineage.
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