SCHEDULE: TD Bank Discloses Greenbrier Companies Stake

The Toronto-Dominion Bank and TD Securities Inc. have jointly filed a Schedule 13G, reporting beneficial ownership of 6.2% of Greenbrier Companies Inc. common stock as of March 31, 2026.

Summary

• The Toronto-Dominion Bank (TD Bank) and its subsidiary TD Securities Inc. (TDSI) have filed an amendment to their Schedule 13G, reporting their beneficial ownership of Greenbrier Companies Inc. common stock.
• As of March 31, 2026, TD Bank beneficially owns 1,907,755 shares, and TDSI beneficially owns 1,358 shares.
• The total aggregate amount beneficially owned by both entities is 1,909,113 shares, representing 6.2% of the class of securities.
• TD Bank has sole voting power and sole dispositive power over its 1,907,755 shares.
• TDSI has sole voting power and sole dispositive power over its 1,358 shares.
• TD Bank is the sole owner of TDSI and may be deemed to hold an indirect interest in the shares reported by TDSI, though it disclaims ownership except to the extent of its pecuniary interest.
• The filing confirms that the securities were acquired and are held in the ordinary course of business and not for the purpose of influencing control of the issuer.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing. It's a standard disclosure of institutional ownership without any performance data or strategic commentary, making it informative but not indicative of immediate positive or negative sentiment towards the company's prospects.

Positives

• The filing indicates a significant institutional holding by a major financial institution, which can sometimes be viewed positively by the market.
• The reporting entities are established financial institutions, suggesting a professional and routine management of the investment.
• The disclosure confirms that the shares were acquired and are held in the ordinary course of business, not for the purpose of influencing control.

Negatives

• The filing does not contain any financial performance data or strategic updates for Greenbrier Companies Inc., making it difficult to assess the investment's performance.
• The disclosure is purely a reporting of ownership and does not provide insight into the investment strategy or conviction behind the stake.

Risks

• The filing does not explicitly mention any risks associated with the investment or the company itself.
• Potential risks for TD Bank and TDSI could include market fluctuations affecting the value of their Greenbrier Companies Inc. holdings.
• As a financial institution, regulatory changes or economic downturns could impact the overall portfolio, including this investment.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding Greenbrier Companies Inc. or the reporting entities' future investment plans.

Management Comments

• TD Bank may be deemed to hold an indirect interest in the shares reported herein by TDSI by virtue of its ownership of TDSI. TD Bank disclaims ownership of the shares reported herein by TDSI except to the extent of its pecuniary interest therein.
• Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the US Securities Exchange Act of 1934 or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.
• By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are common for institutional investors and indicate significant ownership stakes. The Toronto-Dominion Bank is a major North American financial institution, and its reporting of a 6.2% stake in Greenbrier Companies Inc. signifies a notable position within the railcar manufacturing and transportation services sector.

Stakeholder Impact

• Shareholders: The disclosure of a significant stake by a major financial institution could be interpreted as a sign of confidence, potentially influencing investor sentiment. However, without further context, the direct impact is neutral.
• Creditors: No direct impact is indicated.
• Employees: No direct impact is indicated.
• Suppliers: No direct impact is indicated.
• Customers: No direct impact is indicated.

Next Steps

• No specific next steps are outlined in the filing regarding Greenbrier Companies Inc. or the reporting entities' investment strategy.

Key Dates

Keywords

Greenbrier Companies Inc., Schedule 13G, The Toronto-Dominion Bank, TD Securities Inc., Beneficial Ownership, Common Stock, SEC Filing, Institutional Investor, Ownership Stake