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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
-4.38%
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
$11.8B
AUM Growth
-$836M
Cap. Flow
-$194M
Cap. Flow %
-1.65%
Top 10 Hldgs %
30.71%
Holding
101
New
2
Increased
17
Reduced
62
Closed
3

Top Buys

Rank Stock Value
1
L icon
Loews
L
+$124M
2
TFC icon
Truist Financial
TFC
+$34.6M
3
AXLL
AXIALL CORP COM STK (DE)
AXLL
+$21.4M
4
FCX icon
Freeport-McMoran
FCX
+$19.4M
5
TECK icon
Teck Resources
TECK
+$18M

Top Sells

Rank Stock Value
1
BCE icon
BCE
BCE
+$77.9M
2
TU icon
Telus
TU
+$66.7M
3
HES
Hess
HES
+$52.6M
4
LPNT
LifePoint Health, Inc.
LPNT
+$46.2M
5
CP icon
Canadian Pacific Kansas City
CP
+$32.9M

Sector Composition

Rank Sector Weight
1 Energy 22.76%
2 Financials 22.45%
3 Communication Services 12.36%
4 Technology 7.91%
5 Materials 7.67%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CNQ icon
1
Canadian Natural Resources
CNQ
$96.9B
$541M 4.6%
28,837,302
-835,601
-3% -$17.3M
SU icon
2
Suncor Energy
SU
$77.7B
$505M 4.29%
13,952,219
-384,512
-3% -$15.4M
BMO icon
3
Bank of Montreal
BMO
$123B
$373M 3.17%
5,067,618
-133,500
-3% -$10M
MFC icon
4
Manulife Financial
MFC
$73B
$367M 3.12%
19,106,825
-246,821
-1% -$4.97M
SLF icon
5
Sun Life Financial
SLF
$45.6B
$364M 3.09%
10,035,756
-199,550
-2% -$7.5M
TU icon
6
Telus
TU
$17.4B
$323M 2.75%
18,961,068
-3,740,120
-16% -$66.7M
TD icon
7
Toronto Dominion Bank
TD
$193B
$297M 2.52%
6,013,647
-77,550
-1% -$4.02M
BCE icon
8
BCE
BCE
$20.8B
$294M 2.5%
6,881,954
-1,743,001
-20% -$77.9M
RDS.A
9
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
$276M 2.34%
3,619,675
-76,280
-2% -$6.12M
TRI icon
10
Thomson Reuters
TRI
$46.4B
$271M 2.31%
6,414,921
-113,193
-2% -$4.9M
COP icon
11
ConocoPhillips
COP
$144B
$261M 2.22%
3,409,295
-94,565
-3% -$7.74M
TLM
12
DELISTED
TALISMAN ENERGY INC
TLM
$259M 2.2%
29,903,324
+740,120
+3% +$7.46M
RY icon
13
Royal Bank of Canada
RY
$287B
$258M 2.19%
3,611,701
-56,224
-2% -$4.14M
VZ icon
14
Verizon
VZ
$197B
$257M 2.19%
5,138,487
-5,836
-0.1% -$290K
GE icon
15
GE Aerospace
GE
$364B
$253M 2.15%
2,061,422
-2,774
-0.1% -$346K
BAC icon
16
Bank of America
BAC
$429B
$248M 2.11%
14,563,486
-81,225
-0.6% -$1.29M
C icon
17
Citigroup
C
$213B
$241M 2.05%
4,653,048
-18,705
-0.4% -$940K
RCI icon
18
Rogers Communications
RCI
$18.8B
$232M 1.98%
6,207,146
-65,885
-1% -$2.61M
T icon
19
AT&T
T
$164B
$226M 1.92%
8,498,565
-5,991
-0.1% -$159K
TECK icon
20
Teck Resources
TECK
$28.2B
$218M 1.85%
11,521,528
+791,580
+7% +$18M
IBM icon
21
IBM
IBM
$213B
$207M 1.76%
1,138,158
+12,505
+1% +$2.28M
CSCO icon
22
Cisco
CSCO
$443B
$203M 1.73%
8,075,413
-109,550
-1% -$2.76M
PFE icon
23
Pfizer
PFE
$143B
$200M 1.7%
7,133,391
-78,676
-1% -$2.21M
DVN icon
24
Devon Energy
DVN
$51.3B
$198M 1.68%
2,903,085
-45,675
-2% -$3.4M
CLS icon
25
Celestica
CLS
$37.8B
$190M 1.61%
18,715,193
+43,050
+0.2% +$478K
1
2 3 4 5

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NP
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WIA
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EIP
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B
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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 Q3 2014 Portfolio in Review

As of Q3 2014, Letko, Brosseau & Associates held 101 positions worth $11.8B, down 6.6% from $12.6B the previous quarter. Its ten largest holdings account for 31% of the portfolio.

Trading was light in Q3 2014: portfolio turnover was 5%. Letko, Brosseau & Associates opened 2 new positions and exited 3, leaving the 101-position portfolio largely intact.

By sector, the portfolio is most concentrated in Energy at 23% of assets, down from 25% a quarter earlier, followed by Financials and Communication Services.

  • Letko, Brosseau & Associates's largest Q3 2014 buy was Loews: 2,890,300 shares worth $120M.
  • Letko, Brosseau & Associates added most to AXIALL CORP COM STK (DE) in Q3 2014, an estimated $21.4M increase.
  • Letko, Brosseau & Associates's biggest Q3 2014 reduction was BCE, cutting an estimated $77.9M.
  • Letko, Brosseau & Associates fully exited Potash Corp Of Saskatchewan in Q3 2014, selling an estimated $430K.
  • Letko, Brosseau & Associates's ten largest holdings make up 31% of its $11.8B portfolio in Q3 2014.
  • Letko, Brosseau & Associates opened 2 new positions and closed 3 in Q3 2014.
  • Letko, Brosseau & Associates's portfolio value fell 6.6% quarter-over-quarter to $11.8B.

Based on Letko, Brosseau & Associates's 13F filing for Q3 2014, filed 17 Nov 2014.