Mark Boyar

This quarter

Updated today

Boyar reshuffles Q2 2026 holdings: trims MDT sharply, adds to financials & tech; warns peak-earnings chips overvalued.

Trimmed SYY for a 6th consecutive quarter
Trimmed CBDY for a 6th consecutive quarter
Trimmed MDT by $3.3M

Sources & details

Windowpast 90 days · 25 events · ending Sep 17, 2026

DetailTrimmed SYY for a 6th consecutive quarter (−1.3k shares in 2026-Q2) · Trimmed CBDY for a 6th consecutive quarter (−356 shares in 2026-Q2) · Trimmed MDT by $3.3M — 2% of portfolio, −83% QoQ · Added $1.7M to INTC — <1% of portfolio, +4% QoQ · Trimmed UBER by $1.1M — <1% of portfolio, −15% QoQ

Full summary

Boyar disclosed a broad rebalancing in Q2 2026, marked by his largest reduction in Medtronic on record—trimming $3.3M (−83% QoQ)—while simultaneously adding to a mix of financial services and technology names. The reshuffling reflects a deliberate shift in positioning: he is leaning toward discounted mega-cap equities, overlooked software, and small-cap opportunities, while pulling back from peak-earnings semiconductor exposure. On the buy side, Boyar added to Microsoft (+$664.4k, +4% QoQ), Intel (+$1.7M, +4% QoQ), and American Express (+$355.7k, +14% QoQ), alongside smaller positions in Coca-Cola, Citigroup, CVS, and Home Depot. He also increased MGM by 48% QoQ (+$741.6k). On the trim side, beyond the Medtronic exit, he reduced exposure to Chubb (−48% QoQ), GXO Logistics (−51% QoQ), Airbnb (−65% QoQ), and TSQ (−36% QoQ). He continued a six-quarter pattern of trimming Sysco and Candy Dynamics in Q2. In his accompanying letter, Boyar cautioned that market broadening has not brought bargains to most sectors, signaling skepticism toward peak-earnings semiconductor valuations. His moves—favoring discounted large-cap equities and software while exiting or reducing high-growth and logistics names—suggest a tactical rebalancing toward value and away from stretched growth narratives.

Underlying filings

Institutional holdingMark BoyarJun 30, 2026Added to KO · +1.3k shares · +$208.0k
Institutional holdingMark BoyarJun 30, 2026Trimmed MDT · −37.1k shares · −$3.3M
Institutional holdingMark BoyarJun 30, 2026Trimmed MRK · −4.6k shares · −$504.6k
Institutional holdingMark BoyarJun 30, 2026Trimmed KVUE · −2.4k shares · +$87.3k
Institutional holdingMark BoyarJun 30, 2026Trimmed PPLI · −10.6k shares · −$314.8k
Institutional holdingMark BoyarJun 30, 2026Added to HD · +52 shares · +$625.1k
Institutional holdingMark BoyarJun 30, 2026Trimmed TSQ · −30.9k shares · −$76.1k
Institutional holdingMark BoyarJun 30, 2026Added to AXP · +602 shares · +$355.7k
Institutional holdingMark BoyarJun 30, 2026Added to CVS · +294 shares · +$528.9k
Institutional holdingMark BoyarJun 30, 2026Trimmed UBER · −16.0k shares · −$1.1M
Institutional holdingMark BoyarJun 30, 2026Added to C · +266 shares · +$428.3k
Institutional holdingMark BoyarJun 30, 2026Trimmed CFR · −895 shares · −$70.4k
Institutional holdingMark BoyarJun 30, 2026Added to INTC · +660 shares · +$1.7M
Institutional holdingMark BoyarJun 30, 2026Trimmed CB · −1.9k shares · −$600.7k
Institutional holdingMark BoyarJun 30, 2026Trimmed SCHW · −130 shares · −$16.8k
Institutional holdingMark BoyarJun 30, 2026Trimmed GXO · −6.1k shares · −$320.5k
Institutional holdingMark BoyarJun 30, 2026Trimmed HHH · −7.6k shares · −$380.7k
Institutional holdingMark BoyarJun 30, 2026Added to MGM · +10.6k shares · +$741.6k
Institutional holdingMark BoyarJun 30, 2026Trimmed SMG · −3.2k shares · +$74.0k
Institutional holdingMark BoyarJun 30, 2026Trimmed MKL · −58 shares · −$68.3k
Institutional holdingMark BoyarJun 30, 2026Added to CNDT · +809 shares · +$5.8k
Institutional holdingMark BoyarJun 30, 2026Added to MSFT · +1.5k shares · +$664.4k
Institutional holdingMark BoyarJun 30, 2026Trimmed ABNB · −2.6k shares · −$308.8k
Institutional holdingMark BoyarJun 30, 2026Trimmed SPHR · −8.3k shares · +$625.0k

Source8 citations →

GeneratedSep 17, 2026

NoteAuto-generated summary · not investment advice · verify before acting.

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BANK AMERICA CORP COM	161,277Shares increased 13%	$7.9M	4.5%
CALLAWAY GOLF CO COM	151,183Shares increased 39%	$2.1M	1.2%
UBER TECHNOLOGIES INC COM	107,531Shares increased 22%	$7.7M	4.4%
COMCAST CORP NEW CL A	102,562Shares increased 23%	$2.9M	1.7%
PFIZER INC COM	99,212Shares increased 9%	$2.8M	1.6%
TOWNSQUARE MEDIA INC CL A	86,773Shares increased 136%	$0.5M	0.3%
TRIPADVISOR INC COM	84,781Shares increased 36%	$0.9M	0.5%
MUELLER WTR PRODS INC COM SER A	82,256Shares increased 41%	$2.3M	1.3%
ATLANTA BRAVES HLDGS INC COM SER C	78,101Shares increased 55%	$3.3M	1.9%
KENVUE INC COM	71,620Shares decreased 5%	$1.2M	0.7%
MADISON SQUARE GARDEN ENTMT COM CL A	68,337Shares increased 38%	$4.0M	2.3%
CISCO SYS INC COM	63,060Shares increased 18%	$4.9M	2.8%
BANK NEW YORK MELLON CORP COM	47,559Shares decreased 2%	$5.6M	3.2%
JPMORGAN CHASE & CO COM	46,944Shares increased 1%	$13.8M	7.9%
MEDTRONIC PLC SHS	44,844Shares increased 624%	$3.9M	2.2%
MONDELEZ INTL INC CL A	44,762Shares decreased <1%	$2.6M	1.5%
MICROSOFT CORP COM	41,435Shares increased 2%	$15.3M	8.7%
SCOTTS MIRACLE-GRO CO CL A	40,189Shares increased 40%	$2.4M	1.4%
SPHERE ENTERTAINMENT CO CL A	37,113Shares increased 9%	$4.4M	2.5%
NEWS CORP NEW CL A	36,458Shares increased 137%	$0.9M	0.5%
DISNEY WALT CO COM	29,577Shares decreased 1%	$2.9M	1.6%
MATCH GROUP INC NEW COM	28,343Shares decreased 13%	$0.9M	0.5%
IAC INC COM NEW	28,175Shares increased 117%	$1.1M	0.6%
SS&C TECH HLDGS COM	25,983Shares increased 38%	$1.8M	1.0%
WENDYS CO COM	25,742Shares decreased <1%	$0.2M	0.1%
HOME DEPOT INC COM	25,506Shares increased 4%	$8.4M	4.8%
CONDUENT INC COM	25,481Shares decreased <1%	$0.0M	0.0%
MADISON SQUARE GRDN SPRT COR CL A	25,102Shares increased 20%	$8.1M	4.6%
GLOBAL PMTS INC COM	23,566Shares increased 97%	$1.6M	0.9%
MGM RESORTS INTERNATIONAL COM	21,854Shares increased 7%	$0.8M	0.5%
HOWARD HUGHES HOLDINGS INC COM	20,095Shares increased 92%	$1.3M	0.7%
AMERIPRISE FINL INC COM	19,706Shares increased 3%	$8.8M	5.0%
COCA COLA CO COM	19,614Shares decreased 3%	$1.5M	0.8%
SYSCO CORP COM	19,556Shares decreased 2%	$1.4M	0.8%
INTEL CORP COM	17,240Shares decreased 5%	$0.8M	0.4%
BRISTOL-MYERS SQUIBB CO COM	16,532Shares decreased <1%	$1.0M	0.6%
JOHNSON & JOHNSON COM	16,306Shares decreased 1%	$4.0M	2.3%
ALPHABET INC CAP STK CL A	15,906Shares increased 41%	$4.6M	2.6%
CVS HEALTH CORP COM	15,758Shares decreased 8%	$1.1M	0.6%
COOPER COS INC COM	15,718Shares increased 95%	$1.1M	0.6%
UNITED PARCEL SVCS INC CL B	14,912Shares decreased <1%	$1.5M	0.8%
CITIGROUP INC COM NEW	14,731Shares decreased 7%	$1.7M	1.0%
RESTAURANT BRANDS INTL INC COM	13,173New position this quarter	$1.0M	0.6%
VERIZON COMMUNICATIONS INC COM	12,141Shares increased 25%	$0.6M	0.3%
GXO LOGISTICS INCORPORATED COMMON STOCK	11,849Shares increased 194%	$0.6M	0.3%
GE HEALTHCARE TECHNOLOGIES I COMMON STOCK	11,361Shares increased 108%	$0.8M	0.5%
MERCK & CO INC COM	11,038Shares increased 81%	$1.3M	0.8%
ACUSHNET HLDGS CORP COM	10,877Shares decreased 5%	$1.0M	0.6%
LIBERTY MEDIA CORP DEL COM LBTY ONE S A	9,334Shares increased 13%	$0.7M	0.4%
KNIFE RIVER CORP COMMON STOCK	8,858New position this quarter	$0.7M	0.4%
CARRIER GLOBAL CORPORATION COM	8,325New position this quarter	$0.5M	0.3%
MARRIOTT INTL INC NEW CL A	8,132	$2.7M	1.5%
EBAY INC. COM	8,054Shares increased <1%	$0.7M	0.4%
SALESFORCE INC COM	7,694New position this quarter	$1.4M	0.8%
TARGET CORP COM	7,628Shares decreased 2%	$0.9M	0.5%
BROADRIDGE FINL SOLUTIONS IN COM	7,053	$1.1M	0.7%
WASTE MGMT INC DEL COM	5,488Shares decreased 7%	$1.3M	0.7%
CORNING INC COM	5,195Shares decreased 35%	$0.7M	0.4%
MCDONALDS CORP COM	5,108Shares decreased 3%	$1.6M	0.9%
NASDAQ INC COM	4,896	$0.4M	0.2%
BERKSHIRE HATHAWAY INC DEL CL B NEW	4,274Shares increased 132%	$2.0M	1.2%
AMERICAN EXPRESS CO COM	4,251Shares decreased <1%	$1.3M	0.7%
LOEWS CORP COM	4,246Shares decreased 9%	$0.5M	0.3%
AIRBNB INC COM CL A	4,074New position this quarter	$0.5M	0.3%
H1467J104CHUBB LTD SWITZ COM	4,072Shares increased 81%	$1.3M	0.8%
CULLEN FROST BANKERS INC COM	3,892New position this quarter	$0.5M	0.3%
AMERICAN INTL GROUP INC COM NEW	3,447	$0.3M	0.1%
LABCORP HOLDINGS INC COM SHS	3,412Shares decreased 8%	$0.9M	0.5%
GENERAL DYNAMICS CORP COM	3,340Shares increased 166%	$1.1M	0.7%
APPLE INC COM	3,071	$0.8M	0.4%
SCHWAB CHARLES CORP COM	2,805Shares decreased 3%	$0.3M	0.2%
SOUTHERN CO COM	2,765	$0.3M	0.2%
KIMBERLY-CLARK CORP COM	2,150	$0.2M	0.1%
ALPHABET INC CAP STK CL C	1,954Shares decreased 2%	$0.6M	0.3%
INTERNATIONAL BUSINESS MACHS COM	1,641	$0.4M	0.2%
MARKEL GROUP INC COM	1,154Shares increased 62%	$2.2M	1.3%
WATSCO INC COM	583New position this quarter	$0.2M	0.1%
KLA CORP COM NEW	265	$0.4M	0.2%

Mark Boyar

Mark Boyar

Portfolio · 2026-Q1

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