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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
+2.69%
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
$10.7B
AUM Growth
-$224M
Cap. Flow
-$441M
Cap. Flow %
-4.13%
Top 10 Hldgs %
34%
Holding
100
New
3
Increased
8
Reduced
71
Closed
5

Top Buys

Rank Stock Value
1
CVE icon
Cenovus Energy
CVE
+$80.4M
2
ABBV icon
AbbVie
ABBV
+$38.3M
3
RDS.A
Royal Dutch Shell PLC ADS Class A
RDS.A
+$26.7M
4
DKS icon
Dick's Sporting Goods
DKS
+$7.87M
5
EMN icon
Eastman Chemical
EMN
+$7.79M

Top Sells

Rank Stock Value
1
BAC icon
Bank of America
BAC
+$73.7M
2
TECK icon
Teck Resources
TECK
+$59.8M
3
SLF icon
Sun Life Financial
SLF
+$58.5M
4
RY icon
Royal Bank of Canada
RY
+$27.7M
5
AGU
Agrium
AGU
+$25.7M

Sector Composition

Rank Sector Weight
1 Financials 26.19%
2 Energy 18.42%
3 Communication Services 14.69%
4 Technology 9.97%
5 Healthcare 7.65%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CNQ icon
1
Canadian Natural Resources
CNQ
$91.7B
$459M 4.3%
28,706,446
-818,093
-3% -$12.4M
SU icon
2
Suncor Energy
SU
$73.5B
$417M 3.9%
13,593,546
-338,859
-2% -$10.7M
BNS icon
3
Scotiabank
BNS
$107B
$400M 3.75%
6,848,388
-339,947
-5% -$20.2M
BMO icon
4
Bank of Montreal
BMO
$125B
$395M 3.7%
5,295,485
-331,242
-6% -$25M
RY icon
5
Royal Bank of Canada
RY
$292B
$367M 3.44%
5,049,443
-382,645
-7% -$27.7M
TU icon
6
Telus
TU
$16.1B
$336M 3.15%
20,733,374
-187,190
-0.9% -$3.07M
MFC icon
7
Manulife Financial
MFC
$70.6B
$333M 3.12%
18,817,980
-989,782
-5% -$18.2M
TD icon
8
Toronto Dominion Bank
TD
$199B
$331M 3.1%
6,626,786
-259,943
-4% -$13.3M
TECK icon
9
Teck Resources
TECK
$26.7B
$301M 2.81%
13,767,611
-2,673,777
-16% -$59.8M
CLS icon
10
Celestica
CLS
$35.3B
$292M 2.73%
20,085,928
-824,920
-4% -$11M
SLF icon
11
Sun Life Financial
SLF
$44.7B
$288M 2.7%
7,897,442
-1,538,087
-16% -$58.5M
RCI icon
12
Rogers Communications
RCI
$18.8B
$286M 2.68%
6,486,332
-174,715
-3% -$7.32M
BCE icon
13
BCE
BCE
$20.2B
$279M 2.62%
6,323,053
+22,155
+0.4% +$976K
TRI icon
14
Thomson Reuters
TRI
$41.7B
$264M 2.47%
5,261,312
-295,035
-5% -$15.1M
MGA icon
15
Magna International
MGA
$18B
$246M 2.31%
5,721,176
-30,985
-0.5% -$1.35M
C icon
16
Citigroup
C
$216B
$240M 2.25%
4,012,257
-115,774
-3% -$6.85M
T icon
17
AT&T
T
$153B
$237M 2.21%
7,537,419
-256,294
-3% -$8.07M
BAC icon
18
Bank of America
BAC
$424B
$225M 2.11%
9,546,050
-3,106,110
-25% -$73.7M
CVE icon
19
Cenovus Energy
CVE
$52.7B
$224M 2.1%
19,804,042
+5,982,700
+43% +$80.4M
VZ icon
20
Verizon
VZ
$182B
$217M 2.03%
4,448,410
-72,634
-2% -$3.64M
RDS.A
21
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
$198M 1.85%
3,747,776
+499,075
+15% +$26.7M
OVV icon
22
Ovintiv
OVV
$16.2B
$194M 1.81%
3,312,815
-98,378
-3% -$5.9M
CSCO icon
23
Cisco
CSCO
$436B
$190M 1.78%
5,626,317
-262,370
-4% -$8.51M
IBM icon
24
IBM
IBM
$200B
$174M 1.63%
1,042,799
-37,222
-3% -$6.24M
HBM icon
25
Hudbay
HBM
$9.25B
$170M 1.59%
25,893,650
-382,319
-1% -$2.86M
1
2 3 4

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EIP
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Letko, Brosseau & Associates's Q1 2017 Portfolio in Review

As of Q1 2017, Letko, Brosseau & Associates held 100 positions worth $10.7B, down 2.1% from $10.9B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Letko, Brosseau & Associates withdrew a net $441M in Q1 2017, closing 5 positions and reducing 71 holdings. Its most notable exit was Semiconductor Manufacturing Intl, an estimated $21.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 26% of assets, down from 27% a quarter earlier, followed by Energy and Communication Services.

Against the trend, Letko, Brosseau & Associates opened a new position in AbbVie worth $39.7M.

  • Letko, Brosseau & Associates's largest Q1 2017 buy was AbbVie: 609,470 shares worth $39.7M.
  • Letko, Brosseau & Associates added most to Cenovus Energy in Q1 2017, an estimated $80.4M increase.
  • Letko, Brosseau & Associates's biggest Q1 2017 reduction was Bank of America, cutting an estimated $73.7M.
  • Letko, Brosseau & Associates fully exited Semiconductor Manufacturing Intl in Q1 2017, selling an estimated $21.5M.
  • Letko, Brosseau & Associates's ten largest holdings make up 34% of its $10.7B portfolio in Q1 2017.
  • Letko, Brosseau & Associates opened 3 new positions and closed 5 in Q1 2017.
  • Letko, Brosseau & Associates's portfolio value fell 2.1% quarter-over-quarter to $10.7B.

Based on Letko, Brosseau & Associates's 13F filing for Q1 2017, filed 11 May 2017.