TD Asset Management Reduces Stakes in Reliance and Robinhood

TD Asset Management Inc lowered its ownership in Reliance Inc., an industrial products company listed on the NYSE, by 16.0% in the fourth quarter. After selling 17,587 shares, the fund held 92,353 shares, representing about 0.18% of the company and valued at roughly $26.7 million.

In the same filing period, the firm cut its stake in Robinhood Markets Inc. by 7.0%, selling 30,618 shares. TD Asset Management ended the quarter with 405,398 Robinhood shares, worth about $45.9 million.

Both adjustments reflect the fund’s portfolio rebalancing activities as it modifies its exposure to these publicly traded firms.