Matrix rotated out of defense (LMT) and consumer discretionary (TGT) into consumer staples (MCD), tech-enabled services (UBER, ACN), and broad market exposure (VONG). The exit from LMT may reflect valuation concerns or a shift away from defense spending exposure. Monitor Q4 2026 13F for confirmation of this defensive tilt.
Executive Summary
Matrix Asset Advisors made modest portfolio adjustments in Q3 2026, exiting Lockheed Martin, trimming Target, and adding new positions in Uber and Accenture while doubling McDonald's and Vanguard Scottsdale Funds. The net capital flow is positive, indicating a slightly bullish posture with a defensive tilt toward consumer staples and tech-enabled services.
Key Financial Metrics
Per-Ticker Signals
| Ticker | Signal | Reason |
|---|---|---|
| LMT | ▼ BEARISH | Full exit of 33,411 shares — likely thesis change or sector rotation away from defense. |
| TGT | ▼ BEARISH | Trimmed 62.2% — reduced conviction in consumer discretionary retail. |
| MCD | ▲ BULLISH | Doubled position with 410.8% increase — strong conviction in consumer staples and defensive growth. |
| UBER | ▲ BULLISH | New $11.2M position — entering tech-enabled mobility and delivery services. |
| ACN | ▲ BULLISH | Added 78.5% — increased exposure to IT consulting and digital transformation. |
| VONG | ▲ BULLISH | Doubled 114.2% — adding broad market growth exposure via Vanguard fund. |
Key Facts
- Exited LMT (Lockheed Martin) — 33,411 shares sold, full exit
- Trimmed TGT (Target) by 62.2% — 114,213 to 43,192 shares, $6.8M remaining
- Doubled MCD (McDonald's) by 410.8% — 12,335 to 63,006 shares, $14.6M position
- New position in UBER (Uber Technologies) — 164,010 shares, $11.2M
- Added to Accenture (ACN) by 78.5% — 12,287 to 21,928 shares, $4.0M
- Doubled VONG (Vanguard Scottsdale Funds) by 114.2% — 11,689 to 25,043 shares, $3.2M
Financial Impact
Net capital deployed into new/increased positions (~$33M) exceeded capital removed from exits/trims (~$6.8M), resulting in net inflow of roughly $26M, or ~2.2% of AUM.
Risk Factors
- 45-day disclosure lag — positions reflect Sept 30, 2026, not current holdings
- Small fund size ($1.2B AUM) limits market impact of these moves
- Single-quarter snapshot may not reflect a durable thesis change
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| 13F-CHANGES Data (Synthetic) | 13f-changes-0001016287-2026-Q3 |
US Market Status
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