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LBA

Letko, Brosseau & Associates Portfolio holdings

AUM $6.2B
1-Year Est. Return 38.92%
This Fund
S&P 500
This Quarter Est. Return
+8.61%
1 Year Est. Return
+38.92%
3 Year Est. Return
+73.78%
5 Year Est. Return
+108.79%
10 Year Est. Return
+308.35%
AUM
$6.11B
AUM Growth
+$285M
Cap. Flow
-$131M
Cap. Flow %
-2.15%
Top 10 Hldgs %
38.58%
Holding
105
New
7
Increased
30
Reduced
46
Closed
5

Top Buys

Rank Stock Value
1
CNI icon
Canadian National Railway
CNI
+$74.4M
2
TTE icon
TotalEnergies
TTE
+$70M
3
ELPC icon
Copel
ELPC
+$68.8M
4
GPK icon
Graphic Packaging
GPK
+$22.6M
5
BCE icon
BCE
BCE
+$6.82M

Top Sells

Rank Stock Value
1
ELP
Companhia Paranaense de Energia (COPEL)
ELP
+$65.6M
2
GILD icon
Gilead Sciences
GILD
+$47M
3
SHEL icon
Shell
SHEL
+$46.1M
4
HBM icon
Hudbay
HBM
+$33.2M
5
EFXT
Enerflex
EFXT
+$28.7M

Sector Composition

Rank Sector Weight
1 Financials 33.66%
2 Communication Services 18.82%
3 Materials 10.86%
4 Healthcare 8.81%
5 Technology 7.93%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TFC icon
26
Truist Financial
TFC
$64B
$83.5M 1.37%
1,696,756
+32,200
+2% +$1.48M
GSK icon
27
GSK
GSK
$106B
$82.1M 1.34%
1,674,863
-1,105
-0.1% -$51.5K
ADBE icon
28
Adobe
ADBE
$105B
$79.3M 1.3%
226,696
-9,414
-4% -$3.2M
CNI icon
29
Canadian National Railway
CNI
$76.6B
$76.6M 1.25%
+773,340
New +$74.4M
EMN icon
30
Eastman Chemical
EMN
$8.42B
$76.2M 1.25%
1,194,421
+61,950
+5% +$3.82M
SU icon
31
Suncor Energy
SU
$70.3B
$73.8M 1.21%
1,661,252
-406,125
-20% -$17.2M
TTE icon
32
TotalEnergies
TTE
$190B
$72.2M 1.18%
+1,106,404
New +$70M
WFG icon
33
West Fraser Timber
WFG
$5.65B
$71.8M 1.17%
1,171,348
+22,179
+2% +$1.39M
VZ icon
34
Verizon
VZ
$196B
$69.8M 1.14%
1,712,944
+55,228
+3% +$2.24M
ELPC icon
35
Copel
ELPC
$8.57B
$69.2M 1.13%
7,276,402
+7,210,646
+10,966% +$68.8M
CMCSA icon
36
Comcast
CMCSA
$90B
$67.7M 1.11%
2,265,221
+101,975
+5% +$2.91M
ABBV icon
37
AbbVie
ABBV
$435B
$65.1M 1.07%
285,104
-5,805
-2% -$1.32M
FDX icon
38
FedEx
FDX
$75.4B
$64.6M 1.06%
223,597
+6,860
+3% +$1.8M
TECK icon
39
Teck Resources
TECK
$32.6B
$58.3M 0.95%
1,216,592
-221,750
-15% -$9.61M
BAC icon
40
Bank of America
BAC
$442B
$53.9M 0.88%
979,815
-5,355
-0.5% -$283K
WFC icon
41
Wells Fargo
WFC
$264B
$53.8M 0.88%
577,544
-103,950
-15% -$9.02M
CRUS icon
42
Cirrus Logic
CRUS
$6.26B
$53.4M 0.87%
450,284
-1,795
-0.4% -$221K
SBS icon
43
Sabesp
SBS
$18.7B
$52.9M 0.87%
11,102,113
-489,899
-4% -$2.36M
GPK icon
44
Graphic Packaging
GPK
$3.58B
$52M 0.85%
3,451,510
+1,376,575
+66% +$22.6M
CX icon
45
Cemex
CX
$16.3B
$43.9M 0.72%
3,823,500
+125,975
+3% +$1.3M
EFXT
46
Enerflex
EFXT
$2.44B
$43.5M 0.71%
2,815,688
-2,158,748
-43% -$28.7M
SWKS icon
47
Skyworks Solutions
SWKS
$10.6B
$42.6M 0.7%
671,432
-110,265
-14% -$7.71M
IVZ icon
48
Invesco
IVZ
$13.9B
$41.4M 0.68%
1,575,463
-25,675
-2% -$627K
QSR icon
49
Restaurant Brands International
QSR
$25.8B
$41.3M 0.68%
604,192
+3,675
+0.6% +$253K
COP icon
50
ConocoPhillips
COP
$141B
$40.3M 0.66%
430,664
+5,470
+1% +$495K
1
2
3 4 5

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Letko, Brosseau & Associates's Q4 2025 Portfolio in Review

As of Q4 2025, Letko, Brosseau & Associates held 105 positions worth $6.11B, up 4.9% from $5.82B the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Letko, Brosseau & Associates's Q4 2025 filing shows 7 new, 30 increased, 46 reduced and 5 closed positions. Its largest new stake was Canadian National Railway: 773,340 shares worth $76.6M. The largest sale was Companhia Paranaense de Energia (COPEL), an estimated $65.6M.

By sector, the portfolio is most concentrated in Financials at 34% of assets, up from 33% a quarter earlier, followed by Communication Services and Materials.

  • Letko, Brosseau & Associates's largest Q4 2025 buy was Canadian National Railway: 773,340 shares worth $76.6M.
  • Letko, Brosseau & Associates added most to Copel in Q4 2025, an estimated $68.8M increase.
  • Letko, Brosseau & Associates's biggest Q4 2025 reduction was Shell, cutting an estimated $46.1M.
  • Letko, Brosseau & Associates fully exited Companhia Paranaense de Energia (COPEL) in Q4 2025, selling an estimated $65.6M.
  • Letko, Brosseau & Associates's ten largest holdings make up 39% of its $6.11B portfolio in Q4 2025.
  • Letko, Brosseau & Associates opened 7 new positions and closed 5 in Q4 2025.
  • Letko, Brosseau & Associates's portfolio value rose 4.9% quarter-over-quarter to $6.11B.

Based on Letko, Brosseau & Associates's 13F filing for Q4 2025, filed 11 Feb 2026.