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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
ELP
101
DELISTED
Companhia Paranaense de Energia (COPEL)
ELP
– –
-6,696,046
Closed -$65.6M
ETNB
102
DELISTED
89bio
ETNB
– –
-10,700
Closed -$157K
GILD icon
103
Gilead Sciences
GILD
$165B
– –
-423,520
Closed -$47M
MLYS icon
104
Mineralys Therapeutics
MLYS
$2.41B
– –
-5,475
Closed -$208K
NVDA icon
105
NVIDIA
NVDA
$5.42T
– –
-6,250
Closed -$1.17M
1 2 3 4
5

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CA
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ACM
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AWA
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DTC
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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.