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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
-15.9%
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
$9.01B
AUM Growth
-$1.74B
Cap. Flow
+$173M
Cap. Flow %
1.92%
Top 10 Hldgs %
36.93%
Holding
117
New
16
Increased
39
Reduced
50
Closed
4

Top Buys

Rank Stock Value
1
OVV icon
Ovintiv
OVV
+$65.4M
2
CM icon
Canadian Imperial Bank of Commerce
CM
+$31.4M
3
MFC icon
Manulife Financial
MFC
+$31.1M
4
BNS icon
Scotiabank
BNS
+$29.2M
5
TD icon
Toronto Dominion Bank
TD
+$29M

Top Sells

Rank Stock Value
1
TRI icon
Thomson Reuters
TRI
+$108M
2
MRK icon
Merck
MRK
+$27.4M
3
PFE icon
Pfizer
PFE
+$24.5M
4
BAC icon
Bank of America
BAC
+$18.1M
5
VZ icon
Verizon
VZ
+$17.6M

Sector Composition

Rank Sector Weight
1 Financials 29.31%
2 Energy 18.17%
3 Communication Services 15.79%
4 Materials 8.95%
5 Technology 8.33%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BNS icon
1
Scotiabank
BNS
$105B
$382M 4.24%
7,668,752
+541,704
+8% +$29.2M
SU icon
2
Suncor Energy
SU
$77.7B
$370M 4.11%
13,266,544
+624,064
+5% +$20.7M
CNQ icon
3
Canadian Natural Resources
CNQ
$96.9B
$354M 3.93%
29,989,690
+2,019,107
+7% +$27.1M
RY icon
4
Royal Bank of Canada
RY
$287B
$354M 3.93%
5,173,733
+336,520
+7% +$24.6M
BMO icon
5
Bank of Montreal
BMO
$123B
$342M 3.79%
5,231,492
+155,480
+3% +$11.5M
TD icon
6
Toronto Dominion Bank
TD
$193B
$337M 3.74%
6,776,750
+529,533
+8% +$29M
MFC icon
7
Manulife Financial
MFC
$73B
$304M 3.37%
21,439,119
+1,964,748
+10% +$31.1M
TU icon
8
Telus
TU
$17.4B
$299M 3.31%
18,034,746
-45,582
-0.3% -$793K
TECK icon
9
Teck Resources
TECK
$28.2B
$296M 3.29%
13,773,891
+760,525
+6% +$16.5M
CVE icon
10
Cenovus Energy
CVE
$54.2B
$290M 3.22%
41,302,859
+1,440,030
+4% +$11.9M
BCE icon
11
BCE
BCE
$20.8B
$283M 3.14%
7,177,591
+493,137
+7% +$20.2M
SLF icon
12
Sun Life Financial
SLF
$45.6B
$283M 3.14%
8,539,210
+755,590
+10% +$27.3M
MGA icon
13
Magna International
MGA
$18.8B
$262M 2.9%
5,764,870
+351,122
+6% +$17M
RCI icon
14
Rogers Communications
RCI
$18.8B
$224M 2.48%
4,364,023
-43,572
-1% -$2.26M
VZ icon
15
Verizon
VZ
$197B
$212M 2.36%
3,775,966
-310,297
-8% -$17.6M
CLS icon
16
Celestica
CLS
$37.8B
$194M 2.15%
22,173,121
+1,599,033
+8% +$16M
RDS.A
17
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
$175M 1.94%
2,996,388
-121,015
-4% -$7.5M
HBM icon
18
Hudbay
HBM
$9.76B
$171M 1.9%
36,116,358
+4,404,357
+14% +$20.7M
C icon
19
Citigroup
C
$213B
$171M 1.89%
3,280,442
-115,321
-3% -$7.3M
T icon
20
AT&T
T
$164B
$167M 1.85%
7,728,213
-168,916
-2% -$3.93M
COP icon
21
ConocoPhillips
COP
$144B
$145M 1.61%
2,328,361
-95,570
-4% -$6.5M
OSB
22
DELISTED
Norbord Inc.
OSB
$138M 1.53%
5,177,944
+469,233
+10% +$12.8M
OVV icon
23
Ovintiv
OVV
$17B
$134M 1.48%
4,627,889
+1,518,012
+49% +$65.4M
BPY
24
DELISTED
Brookfield Property Partners L.P. Limited Partnership Units
BPY
$128M 1.42%
7,916,548
+403,219
+5% +$7.36M
CM icon
25
Canadian Imperial Bank of Commerce
CM
$106B
$120M 1.33%
3,219,922
+739,002
+30% +$31.4M
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 Q4 2018 Portfolio in Review

As of Q4 2018, Letko, Brosseau & Associates held 117 positions worth $9.01B, down 16% from $10.8B the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Letko, Brosseau & Associates's Q4 2018 filing shows 16 new, 39 increased, 50 reduced and 4 closed positions. Its largest new stake was Copa Holdings: 50,000 shares worth $3.94M. The largest sale was Thomson Reuters, an estimated $108M.

By sector, the portfolio is most concentrated in Financials at 29% of assets, up from 28% a quarter earlier, followed by Energy and Communication Services.

  • Letko, Brosseau & Associates's largest Q4 2018 buy was Copa Holdings: 50,000 shares worth $3.94M.
  • Letko, Brosseau & Associates added most to Ovintiv in Q4 2018, an estimated $65.4M increase.
  • Letko, Brosseau & Associates's biggest Q4 2018 reduction was Thomson Reuters, cutting an estimated $108M.
  • Letko, Brosseau & Associates fully exited Aetna Inc in Q4 2018, selling an estimated $548K.
  • Letko, Brosseau & Associates's ten largest holdings make up 37% of its $9.01B portfolio in Q4 2018.
  • Letko, Brosseau & Associates opened 16 new positions and closed 4 in Q4 2018.
  • Letko, Brosseau & Associates's portfolio value fell 16% quarter-over-quarter to $9.01B.

Based on Letko, Brosseau & Associates's 13F filing for Q4 2018, filed 8 Feb 2019.