David Katz's Portfolio Shifts in Q3 2026: Strategic Buys and Sells Revealed
Matrix Advisors Value Fund's David Katz made significant adjustments in Q3 2026, notably adding to positions in McDonald's and Uber while reducing exposure in several Financial Services stocks.
Technology Sector Dynamics
During the third quarter of 2026, David Katz's portfolio at Matrix Advisors Value Fund showed notable shifts within the Technology sector. The fund's position in Microsoft (MSFT) saw a minimal increase of just 0.08%, indicating a very slight confidence in the stock, but its allocation dropped from 7.31% to an unspecified level, likely due to overall portfolio rebalancing or performance considerations.
Conversely, the position in QUALCOMM (QCOM) experienced a substantial increase, with a 6.85% rise in shares and a corresponding increase in its portfolio allocation to 3.95%. This suggests renewed interest or confidence in the semiconductor communications player. The position in ALPHABET (GOOG) also saw an increase, albeit smaller, with a 0.08% share rise translating to a slight increase in its allocation to 3.85%.
Financial Services Adjustments
The Financial Services sector within Katz's portfolio underwent significant reductions during Q3 2026. US BANCORP (USB) saw its portfolio allocation decrease by 0.00 percentage points (likely negligible rounding), despite a 4.98% reduction in shares. This tiny change might be insignificant or due to portfolio turnover.
PNC FINL SVCS GROUP INC (PNC) experienced a substantial reduction, with its portfolio allocation dropping by 0.01 percentage points to 3.18%. This coincided with an 8.07% decrease in shares. Similarly, BANK OF NY MELLON CORP (BK) saw its allocation fall to 1.90% after a 9.00% reduction in shares.
Consumer Defensive and Cyclical Activity
The third quarter witnessed significant activity in the Consumer Defensive and Consumer Cyclical sectors. David Katz notably increased his position in PEP, adding 10.99% more shares, which pushed its portfolio allocation up to 3.11%. This substantial purchase likely reflects confidence in the consumer goods giant.
Meanwhile, in the Consumer Defensive space, Tyson Foods (TSN) saw a considerable increase in its portfolio allocation to 2.42%, driven by a 17.63% rise in shares. This indicates a strong conviction in the food sector. McDonald's (MCD) was another standout, with a massive 410.79% increase in shares translating to a portfolio allocation rise of 1.20%.
Other Sectors and Minor Changes
The investor also added a new position in UBER TECHNOLOGIES INC (UBER) during Q3 2026, investing an amount that increased the stock's portfolio allocation to 0.93%. This represents a 100.00% increase in shares, suggesting a significant new investment or reallocation towards the ride-sharing giant.
Other sectors showed less dramatic changes. Constellations Brands (STZ) saw a moderate increase in its portfolio allocation to 0.84%, following an 18.38% reduction in shares. SKYX PLATFORMS CORP (SKYX) experienced a very minor allocation (0.02%) but a significant 17.40% reduction in shares. NEXTERA ENERGY INC (NEE) and American ELEC PWR CO INC (AEP) both saw increases in their portfolio allocations (1.63% and 1.76% respectively) due to share increases of 9.98% and 16.22%.
Overall Portfolio Indicators
Katz's portfolio management resulted in a total holding count of 100 stocks as of September 30, 2026. The fund's largest Technology holdings, Microsoft and Qualcomm, combined for approximately 11.26% of the total portfolio value, highlighting the sector's importance despite the changes.
Significant buying activity was observed in McDonald's, Uber, Comcast (CMCSA), and Constellations Brands, while the most notable sale was the large reduction in Target (TGT) shares. The portfolio maintains diversification across 10 sectors, with the top five holdings accounting for 23.79% of the total value. The presence of both large buys and large sells indicates an active management style focused on maximizing value through strategic adjustments.