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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In a move reflecting portfolio rebalancing following strong performance in the semiconductor sector, TD Asset Management has reduced its holdings in several major US equities. According to reports, the firm cut its stake in Lam Research by 35.2% by selling 852,142 shares and offloaded 777,070 shares of T-Mobile US, representing a 35.3% reduction in its position. The selling activity also extended to Arista Networks, United Rentals, Gilead Sciences, and Yum! Brands.
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Sign InThese institutional moves come amid notable volatility in tech stocks, even as Lam Research (LRCX) reported an 18% year-over-year increase in earnings per share last quarter per Reuters data, and Arista Networks (ANET) saw revenue growth of 16%. Compared to peers, Applied Materials (AMAT) trades at a similar price-to-earnings multiple to Lam Research, suggesting that the sales may be driven by profit-taking rather than deteriorating fundamentals, according to market data.
Traders should monitor liquidity levels in the affected instruments, with LRCX closing at $945.20 and TMUS at $175.40 (close June 3, 2026). Looking ahead, upcoming catalysts including speeches from Fed officials, such as Williams on May 28, could influence risk appetite in the growth sector and impact the short-term price action of these large-cap holdings.