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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
+0.99%
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
$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 24.15%
2 Financials 20.25%
3 Communication Services 13%
4 Technology 8.3%
5 Materials 7.99%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CNQ icon
1
Canadian Natural Resources
CNQ
$104B
$554M 4.73%
29,913,548
-770,626
-3% -$13M
SU icon
2
Suncor Energy
SU
$78.8B
$501M 4.27%
14,335,893
-69,468
-0.5% -$2.31M
TU icon
3
Telus
TU
$15.2B
$412M 3.51%
22,971,998
-362,976
-2% -$6.26M
MFC icon
4
Manulife Financial
MFC
$73.5B
$377M 3.22%
19,545,547
-287,415
-1% -$5.5M
BCE icon
5
BCE
BCE
$22.1B
$368M 3.14%
8,531,290
-96,412
-1% -$4.1M
SLF icon
6
Sun Life Financial
SLF
$45.1B
$357M 3.04%
10,296,486
-233,678
-2% -$8.04M
BMO icon
7
Bank of Montreal
BMO
$122B
$344M 2.93%
5,134,053
-55,288
-1% -$3.59M
TLM
8
DELISTED
TALISMAN ENERGY INC
TLM
$282M 2.41%
28,333,114
+100,880
+0.4% +$1.07M
TD icon
9
Toronto Dominion Bank
TD
$199B
$277M 2.36%
5,903,847
-65,205
-1% -$2.94M
RDS.A
10
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
$273M 2.33%
4,000,260
+56,181
+1% +$3.75M
TRI icon
11
Thomson Reuters
TRI
$45.8B
$256M 2.19%
6,453,310
-279,918
-4% -$11.5M
GE icon
12
GE Aerospace
GE
$350B
$255M 2.18%
2,058,041
-296
-0% -$36.6K
BAC icon
13
Bank of America
BAC
$438B
$253M 2.16%
14,713,686
-26,705
-0.2% -$449K
COP icon
14
ConocoPhillips
COP
$161B
$251M 2.14%
3,562,635
+46,705
+1% +$3.13M
RCI icon
15
Rogers Communications
RCI
$20.3B
$245M 2.09%
5,904,271
+34,360
+0.6% +$1.4M
VZ icon
16
Verizon
VZ
$208B
$240M 2.05%
5,054,756
+2,713,552
+116% +$128M
RY icon
17
Royal Bank of Canada
RY
$292B
$235M 2.01%
3,569,706
-62,186
-2% -$4.02M
T icon
18
AT&T
T
$176B
$222M 1.9%
8,398,140
+147,169
+2% +$3.7M
PFE icon
19
Pfizer
PFE
$162B
$219M 1.87%
7,200,232
-179,328
-2% -$5.35M
C icon
20
Citigroup
C
$231B
$219M 1.87%
4,595,223
+20,420
+0.4% +$1.02M
TECK icon
21
Teck Resources
TECK
$33.9B
$218M 1.86%
10,108,173
+365,639
+4% +$8.48M
AGU
22
DELISTED
Agrium
AGU
$208M 1.78%
2,137,352
-18,200
-0.8% -$1.67M
MGA icon
23
Magna International
MGA
$18.4B
$201M 1.71%
4,175,228
-68,450
-2% -$3.04M
IBM icon
24
IBM
IBM
$221B
$201M 1.71%
1,090,445
+7,370
+0.7% +$1.3M
DVN icon
25
Devon Energy
DVN
$52.9B
$201M 1.71%
2,997,610
+40
+0% +$2.48K
1
2 3 4 5

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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 22% 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.