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LBA

Letko, Brosseau & Associates Portfolio holdings

AUM $6.77B
1-Year Est. Return 38.11%
This Fund
S&P 500
This Quarter Est. Return
+7.58%
1 Year Est. Return
+38.11%
3 Year Est. Return
+83.35%
5 Year Est. Return
+109.01%
10 Year Est. Return
+317.99%
AUM
$10.9B
AUM Growth
+$211M
Cap. Flow
-$449M
Cap. Flow %
-4.12%
Top 10 Hldgs %
34.9%
Holding
103
New
4
Increased
20
Reduced
59
Closed
6

Top Buys

Rank Stock Value
1
PAY
Verifone Systems Inc
PAY
+$47.9M
2
EMN icon
Eastman Chemical
EMN
+$40.9M
3
LPNT
LifePoint Health, Inc.
LPNT
+$22.1M
4
MRK icon
Merck
MRK
+$9.28M
5
TU icon
Telus
TU
+$7.84M

Top Sells

Rank Stock Value
1
TECK icon
Teck Resources
TECK
+$100M
2
DKS icon
Dick's Sporting Goods
DKS
+$53.9M
3
ERIC icon
Ericsson
ERIC
+$34.9M
4
CNQ icon
Canadian Natural Resources
CNQ
+$22.1M
5
BAC icon
Bank of America
BAC
+$19.5M

Sector Composition

Rank Sector Weight
1 Financials 27.34%
2 Energy 19.2%
3 Communication Services 14.64%
4 Technology 9.26%
5 Materials 8.52%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MBT
76
DELISTED
Mobile TeleSystems Public Joint Stock Company American Depositary Shares (Each representing 2 Shares
MBT
$8.71M 0.08%
956,150
+162,900
+21% +$1.31M
ADNT icon
77
Adient
ADNT
$1.45B
$7.78M 0.07%
+132,746
New +$7.01M
EQNR icon
78
Equinor
EQNR
$106B
$6.54M 0.06%
358,369
-28,614
-7% -$489K
IFN
79
Aberdeen India Fund
IFN
$483M
$4M 0.04%
186,945
– –
ING icon
80
ING
ING
$105B
$3.87M 0.04%
274,139
-25
-0% -$337
IEMG icon
81
iShares Core MSCI Emerging Markets ETF
IEMG
$159B
$3.46M 0.03%
81,500
-268,500
-77% -$11.8M
VWO icon
82
Vanguard FTSE Emerging Markets ETF
VWO
$126B
$3.32M 0.03%
92,900
-407,100
-81% -$14.9M
B
83
Barrick Mining
B
$69.8B
$957K 0.01%
59,765
– –
GOOG icon
84
Alphabet (Google) Class C
GOOG
$4.23T
$731K 0.01%
18,940
+300
+2% +$11.7K
RDS.B
85
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
$727K 0.01%
12,545
– –
FDX icon
86
FedEx
FDX
$74B
$689K 0.01%
3,700
+200
+6% +$36.7K
UNH icon
87
UnitedHealth
UNH
$344B
$592K 0.01%
3,700
– –
MET icon
88
MetLife
MET
$61.7B
$542K 0.01%
11,275
– –
SNY icon
89
Sanofi
SNY
$104B
$506K ﹤0.01%
12,509
– –
CCM
90
Concord Medical Services
CCM
$17.2M
$460K ﹤0.01%
10,000
– –
E icon
91
ENI
E
$80.6B
$419K ﹤0.01%
13,000
– –
TTE icon
92
TotalEnergies
TTE
$201B
$417K ﹤0.01%
8,189
– –
APA icon
93
APA Corp
APA
$15.8B
$413K ﹤0.01%
6,500
– –
AET
94
DELISTED
Aetna Inc
AET
$357K ﹤0.01%
2,875
+175
+6% +$21K
V icon
95
Visa
V
$701B
$356K ﹤0.01%
4,560
– –
TEF
96
DELISTED
Telefonica
TEF
$256K ﹤0.01%
34,388
-1,633
-5% -$11.9K
AMTD
97
DELISTED
TD Ameritrade Holding Corp
AMTD
$218K ﹤0.01%
+5,000
New +$194K
EFA icon
98
iShares MSCI EAFE ETF
EFA
$78.2B
– –
-35,800
Closed -$2.12M
ERIC icon
99
Ericsson
ERIC
$32.8B
– –
-4,843,631
Closed -$34.9M
FSLR icon
100
First Solar
FSLR
$22.3B
– –
-465,577
Closed -$18.4M
1 2 3
4
5

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BTCPP
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MCM
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CAG
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LSERS
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CAI
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TCM
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LIP
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Letko, Brosseau & Associates's Q4 2016 Portfolio in Review

As of Q4 2016, Letko, Brosseau & Associates held 103 positions worth $10.9B, up 2% from $10.7B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Letko, Brosseau & Associates withdrew a net $449M in Q4 2016, closing 6 positions and reducing 59 holdings. Its most notable exit was Ericsson, an estimated $34.9M position sold in full.

By sector, the portfolio is most concentrated in Financials at 27% of assets, up from 25% a quarter earlier, followed by Energy and Communication Services.

Against the trend, Letko, Brosseau & Associates opened a new position in Verifone Systems Inc worth $51.2M.

  • Letko, Brosseau & Associates's largest Q4 2016 buy was Verifone Systems Inc: 2,886,000 shares worth $51.2M.
  • Letko, Brosseau & Associates added most to LifePoint Health, Inc. in Q4 2016, an estimated $22.1M increase.
  • Letko, Brosseau & Associates's biggest Q4 2016 reduction was Teck Resources, cutting an estimated $100M.
  • Letko, Brosseau & Associates fully exited Ericsson in Q4 2016, selling an estimated $34.9M.
  • Letko, Brosseau & Associates's ten largest holdings make up 35% of its $10.9B portfolio in Q4 2016.
  • Letko, Brosseau & Associates opened 4 new positions and closed 6 in Q4 2016.
  • Letko, Brosseau & Associates's portfolio value rose 2% quarter-over-quarter to $10.9B.

Based on Letko, Brosseau & Associates's 13F filing for Q4 2016, filed 13 Feb 2017.