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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
-0.39%
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
$9.79B
AUM Growth
-$139M
Cap. Flow
+$17.6M
Cap. Flow %
0.18%
Top 10 Hldgs %
40.16%
Holding
94
New
1
Increased
21
Reduced
60
Closed
2

Top Buys

Rank Stock Value
1
OVV icon
Ovintiv
OVV
+$73.6M
2
CM icon
Canadian Imperial Bank of Commerce
CM
+$26M
3
PARA
Paramount Global Class B
PARA
+$22.2M
4
CX icon
Cemex
CX
+$12.5M
5
TECK icon
Teck Resources
TECK
+$11.1M

Top Sells

Rank Stock Value
1
T icon
AT&T
T
+$12.3M
2
C icon
Citigroup
C
+$11.3M
3
SLF icon
Sun Life Financial
SLF
+$8.38M
4
SBS icon
Sabesp
SBS
+$8.31M
5
VZ icon
Verizon
VZ
+$7.97M

Sector Composition

Rank Sector Weight
1 Financials 33.32%
2 Energy 19.28%
3 Communication Services 15.93%
4 Materials 8.94%
5 Technology 6.88%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BNS icon
1
Scotiabank
BNS
$113B
$454M 4.64%
7,990,346
-40,979
-0.5% -$2.2M
RY icon
2
Royal Bank of Canada
RY
$283B
$415M 4.24%
5,117,336
-26,009
-0.5% -$2.03M
MFC icon
3
Manulife Financial
MFC
$70.9B
$415M 4.24%
22,620,425
+22,892
+0.1% +$404K
SU icon
4
Suncor Energy
SU
$76.5B
$409M 4.18%
12,962,092
-119,850
-0.9% -$3.61M
CNQ icon
5
Canadian Natural Resources
CNQ
$101B
$400M 4.08%
30,662,582
+220,765
+0.7% +$2.74M
TD icon
6
Toronto Dominion Bank
TD
$199B
$392M 4%
6,710,476
-46,297
-0.7% -$2.63M
BMO icon
7
Bank of Montreal
BMO
$120B
$385M 3.93%
5,219,414
-21,795
-0.4% -$1.59M
CVE icon
8
Cenovus Energy
CVE
$58.2B
$383M 3.91%
40,806,241
-376,925
-0.9% -$3.42M
SLF icon
9
Sun Life Financial
SLF
$43.8B
$371M 3.79%
8,283,848
-200,563
-2% -$8.38M
MGA icon
10
Magna International
MGA
$17.6B
$309M 3.16%
5,801,813
-75,687
-1% -$3.77M
TU icon
11
Telus
TU
$15.2B
$291M 2.97%
16,316,482
-185,700
-1% -$3.38M
BCE icon
12
BCE
BCE
$21.9B
$290M 2.96%
5,988,314
-155,107
-3% -$7.26M
CM icon
13
Canadian Imperial Bank of Commerce
CM
$104B
$247M 2.52%
5,973,594
+661,720
+12% +$26M
OVV icon
14
Ovintiv
OVV
$17.9B
$241M 2.46%
10,491,871
+3,216,449
+44% +$73.6M
TECK icon
15
Teck Resources
TECK
$34B
$228M 2.33%
14,037,271
+589,326
+4% +$11.1M
T icon
16
AT&T
T
$178B
$206M 2.1%
7,193,064
-465,300
-6% -$12.3M
VZ icon
17
Verizon
VZ
$208B
$198M 2.02%
3,281,017
-138,476
-4% -$7.97M
C icon
18
Citigroup
C
$223B
$195M 1.99%
2,819,777
-165,815
-6% -$11.3M
RCI icon
19
Rogers Communications
RCI
$19.8B
$188M 1.93%
3,867,552
+140,688
+4% +$7.25M
PVG
20
DELISTED
PRETIUM RESOURCES INC.
PVG
$165M 1.69%
14,347,447
-175,000
-1% -$2.08M
BPY
21
DELISTED
Brookfield Property Partners L.P. Limited Partnership Units
BPY
$160M 1.63%
7,882,071
-34,775
-0.4% -$672K
RDS.A
22
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
$157M 1.6%
2,669,635
-89,925
-3% -$5.34M
CLS icon
23
Celestica
CLS
$37.7B
$156M 1.59%
21,710,771
-233,650
-1% -$1.61M
HBM icon
24
Hudbay
HBM
$13B
$137M 1.4%
37,994,123
+2,528,250
+7% +$10.3M
OSB
25
DELISTED
Norbord Inc.
OSB
$131M 1.34%
5,457,434
+60,425
+1% +$1.42M
1
2 3 4

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BTCPP
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MCM
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CAG
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LSERS
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CAI
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TCM
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LIP
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Letko, Brosseau & Associates's Q3 2019 Portfolio in Review

As of Q3 2019, Letko, Brosseau & Associates held 94 positions worth $9.79B, down 1.4% from $9.93B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Trading was light in Q3 2019: portfolio turnover was 3.2%. Letko, Brosseau & Associates opened 1 new position and exited 2, leaving the 94-position portfolio largely intact.

By sector, the portfolio is most concentrated in Financials at 33% of assets, up from 32% a quarter earlier, followed by Energy and Communication Services.

  • Letko, Brosseau & Associates's largest Q3 2019 buy was Cemex: 3,400,000 shares worth $13.3M.
  • Letko, Brosseau & Associates added most to Ovintiv in Q3 2019, an estimated $73.6M increase.
  • Letko, Brosseau & Associates's biggest Q3 2019 reduction was AT&T, cutting an estimated $12.3M.
  • Letko, Brosseau & Associates fully exited Morgan Stanley India Investment Fund in Q3 2019, selling an estimated $5.35M.
  • Letko, Brosseau & Associates's ten largest holdings make up 40% of its $9.79B portfolio in Q3 2019.
  • Letko, Brosseau & Associates opened 1 new position and closed 2 in Q3 2019.
  • Letko, Brosseau & Associates's portfolio value fell 1.4% quarter-over-quarter to $9.79B.

Based on Letko, Brosseau & Associates's 13F filing for Q3 2019, filed 5 Nov 2019.