First Horizon Corp Expands Portfolio Rebalancing with Major Cuts in Honeywell, Starbucks, and HP

First Horizon Corp has significantly expanded its portfolio rebalancing strategy, executing aggressive divestments across the industrial, tech, and consumer sectors. The firm slashed its stake in Honeywell International by 73.9%, selling over 30,000 shares, and trimmed its HP Inc. position by 28.1% while retaining a $3.28 million stake. Furthermore, the corporation liquidated 55% of its Starbucks holdings amid insider selling activity, and reduced its exposure to Regeneron Pharmaceuticals by a substantial 89.4%. These moves follow earlier reductions in BMY and BNY, contrasting with the firm's increased commitment to Adobe and PNC Financial. This broad-based reallocation suggests a strategic pivot away from diversified industrials and healthcare toward specific high-conviction financial and software assets.