Matrix's rotation out of BNY, CSCO, and DG into consumer staples (PEP, SBUX), home improvement (LOW), and industrial recovery (GNRC) suggests a bet on resilient consumer spending and infrastructure demand. Traders should monitor these names for follow-through buying from other value-oriented funds, but note the 45-day lag — positions are as of June 30, 2025.
Executive Summary
Matrix Asset Advisors made 14 position changes in Q2 2025, deploying net capital into consumer staples (PEP, SBUX), home improvement (LOW), and industrial recovery plays (GNRC), while trimming financials (BNY) and tech (CSCO) and fully exiting Dollar General (DG). The fund's net capital flow is positive, indicating a bullish tilt toward consumer and industrial cyclical exposure.
Key Financial Metrics
Per-Ticker Signals
| Ticker | Signal | Reason |
|---|---|---|
| PEP | ▲ BULLISH | Matrix increased PEP by 59.6%, deploying $29.1M, signaling strong conviction in consumer staples. |
| SBUX | ▲ BULLISH | Added 25.7% to SBUX, investing $18.8M, reflecting confidence in coffee chain recovery. |
| TGT | ▲ BULLISH | Doubled TGT position (+167.4%) with $15.6M, betting on retail turnaround. |
| LOW | ▲ BULLISH | Increased LOW by 54.3%, adding $13.4M, favoring home improvement spending. |
| GNRC | ▲ BULLISH | Doubled GNRC (+185.5%) with $9.6M, signaling conviction in generator/industrial recovery. |
| TMO | ▲ BULLISH | Added 36.1% to TMO, investing $8.7M, increasing life sciences exposure. |
| BNY | ▼ BEARISH | Trimmed BNY by 28.6%, reducing exposure to custody banking amid rate uncertainty. |
| CSCO | ▼ BEARISH | Cut CSCO by 42%, reducing networking exposure likely due to slowing enterprise spending. |
| DG | ▼ BEARISH | Fully exited DG, abandoning discount retail thesis amid margin pressure. |
| IBM | ▼ BEARISH | Trimmed IBM by 25.6%, reducing legacy tech exposure. |
Key Facts
- Matrix added 8 positions, doubled 2 (TGT +167%, GNRC +185%), trimmed 3, and fully exited DG.
- Largest capital deployment: PEP (+$29.1M), SBUX (+$18.8M), TGT (+$15.6M), LOW (+$13.4M).
- Notable trims: BNY (-28.6%, $26.2M remaining), CSCO (-42%, $11.2M remaining), IBM (-25.6%).
- Full exit of DG (131,801 shares, $0 remaining) suggests thesis abandonment.
- New positions in TMO (+36.1%), VTV (+50.3%), VO (+86.1%), COF (+32.4%) are smaller but signal sector diversification.
Financial Impact
Net capital deployed into new/increased positions exceeds capital removed from trims/exits by approximately $40M, representing a ~5% increase in the fund's disclosed equity portfolio.
Risk Factors
- 45-day disclosure lag: positions may have changed since quarter-end.
- 13F only shows long positions; short or derivative hedges are invisible.
- Matrix's moves may be partially driven by rebalancing rather than conviction.
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| 13F-CHANGES Data (Synthetic) | 13f-changes-0001016287-2025-Q2 |
US Market Status
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