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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
+0.99%
1 Year Est. Return
+38.92%
3 Year Est. Return
+73.78%
5 Year Est. Return
+108.79%
10 Year Est. Return
+305.85%
AUM
$11.7B
AUM Growth
-$421M
Cap. Flow
-$488M
Cap. Flow %
-4.16%
Top 10 Hldgs %
31.95%
Holding
105
New
–
Increased
27
Reduced
56
Closed
5

Top Buys

Rank Stock Value
1
VZ icon
Verizon
VZ
+$128M
2
CVE icon
Cenovus Energy
CVE
+$121M
3
HBM icon
Hudbay
HBM
+$45M
4
TECK icon
Teck Resources
TECK
+$8.48M
5
PGH
Pengrowth Energy Corporation
PGH
+$6.91M

Top Sells

Rank Stock Value
1
VOD icon
Vodafone
VOD
+$346M
2
BPO
BROOKFIELD OFFICE PROPERTIES. INC
BPO
+$149M
3
TAC icon
TransAlta
TAC
+$107M
4
AZN icon
AstraZeneca
AZN
+$62.5M
5
CNQ icon
Canadian Natural Resources
CNQ
+$13M

Sector Composition

Rank Sector Weight
1 Energy 23.58%
2 Financials 20.25%
3 Communication Services 12.83%
4 Technology 8.3%
5 Materials 7.99%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ERIC icon
51
Ericsson
ERIC
$33B
$85.4M 0.73%
6,409,771
-179,055
-3% -$2.24M
JCI icon
52
Johnson Controls International
JCI
$93.1B
$82.9M 0.71%
1,673,160
-84,346
-5% -$4.27M
OVV icon
53
Ovintiv
OVV
$16B
$70.8M 0.6%
662,991
+5,677
+0.9% +$538K
PGH
54
DELISTED
Pengrowth Energy Corporation
PGH
$67.1M 0.57%
11,088,150
+1,088,150
+11% +$6.91M
FSLR icon
55
First Solar
FSLR
$25.4B
$60.6M 0.52%
868,912
-18,555
-2% -$1.03M
ELP
56
DELISTED
Companhia Paranaense de Energia (COPEL)
ELP
$46.2M 0.39%
8,811,395
+946,350
+12% +$4.39M
MDT icon
57
Medtronic
MDT
$110B
$45.3M 0.39%
736,805
-1,050
-0.1% -$61.2K
PDS
58
Precision Drilling
PDS
$963M
$43.7M 0.37%
182,489
-1,055
-0.6% -$212K
OTEX icon
59
Open Text
OTEX
$6.22B
$43.2M 0.37%
1,806,980
-520,160
-22% -$12.6M
GIB icon
60
CGI
GIB
$15B
$37.9M 0.32%
1,228,560
-106,700
-8% -$3.37M
CP icon
61
Canadian Pacific Kansas City
CP
$80.4B
$36.3M 0.31%
1,210,925
-163,425
-12% -$4.96M
TAC icon
62
TransAlta
TAC
$4.01B
$35M 0.3%
3,016,259
-8,633,938
-74% -$107M
CVX icon
63
Chevron
CVX
$371B
$33.1M 0.28%
278,597
-8,825
-3% -$1.03M
TC
64
DELISTED
Thompson Creek Metals Company Inc. Ordinary Shares (Canada)
TC
$32.3M 0.28%
14,809,199
+481,500
+3% +$1.22M
SBS icon
65
Sabesp
SBS
$19.1B
$32.1M 0.27%
17,898,279
+906,001
+5% +$1.65M
VWO icon
66
Vanguard FTSE Emerging Markets ETF
VWO
$123B
$29.5M 0.25%
728,000
– –
IEMG icon
67
iShares Core MSCI Emerging Markets ETF
IEMG
$156B
$20.9M 0.18%
425,000
– –
CHL
68
DELISTED
China Mobile Limited
CHL
$20.6M 0.18%
451,650
+118,850
+36% +$5.64M
SMI
69
DELISTED
Semiconductor Manufacturing Intl
SMI
$19.3M 0.16%
5,109,466
-58,800
-1% -$256K
PLAB icon
70
Photronics
PLAB
$1.89B
$17.2M 0.15%
2,016,230
-244,700
-11% -$2.07M
EEM icon
71
iShares MSCI Emerging Markets ETF
EEM
$29.5B
$16.6M 0.14%
405,700
-1,600
-0.4% -$62.8K
IBN icon
72
ICICI Bank
IBN
$109B
$14.3M 0.12%
1,789,700
– –
EQNR icon
73
Equinor
EQNR
$90.6B
$13.1M 0.11%
464,429
-10,934
-2% -$282K
MBT
74
DELISTED
Mobile TeleSystems Public Joint Stock Company American Depositary Shares (Each representing 2 Shares
MBT
$12.6M 0.11%
722,900
+179,000
+33% +$3.2M
IIF
75
Morgan Stanley India Investment Fund
IIF
$220M
$10.4M 0.09%
535,150
– –
1 2
3
4 5

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EIP
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Letko, Brosseau & Associates's Q1 2014 Portfolio in Review

As of Q1 2014, Letko, Brosseau & Associates held 105 positions worth $11.7B, down 3.5% from $12.1B the previous quarter. Its ten largest holdings account for 32% of the portfolio.

Letko, Brosseau & Associates withdrew a net $488M in Q1 2014, closing 5 positions and reducing 56 holdings. Its most notable exit was Vodafone, an estimated $346M position sold in full.

By sector, the portfolio is most concentrated in Energy at 24% of assets, up from 21% a quarter earlier, followed by Financials and Communication Services.

Against the trend, Letko, Brosseau & Associates added an estimated $128M to Verizon.

  • Letko, Brosseau & Associates added most to Verizon in Q1 2014, an estimated $128M increase.
  • Letko, Brosseau & Associates's biggest Q1 2014 reduction was TransAlta, cutting an estimated $107M.
  • Letko, Brosseau & Associates fully exited Vodafone in Q1 2014, selling an estimated $346M.
  • Letko, Brosseau & Associates's ten largest holdings make up 32% of its $11.7B portfolio in Q1 2014.
  • Letko, Brosseau & Associates opened 0 new positions and closed 5 in Q1 2014.
  • Letko, Brosseau & Associates's portfolio value fell 3.5% quarter-over-quarter to $11.7B.

Based on Letko, Brosseau & Associates's 13F filing for Q1 2014, filed 12 May 2014.