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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
+6.4%
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
$6.43B
AUM Growth
-$341M
Cap. Flow
-$616M
Cap. Flow %
-9.59%
Top 10 Hldgs %
35.62%
Holding
105
New
5
Increased
7
Reduced
76
Closed
8

Top Buys

Rank Stock Value
1
CAE icon
CAE Inc. Common Shares
CAE
+$28.5M
2
GOOG icon
Alphabet (Google) Class C
GOOG
+$20.4M
3
OTEX icon
Open Text
OTEX
+$19.2M
4
CRUS icon
Cirrus Logic
CRUS
+$7.53M
5
SKX
Skechers
SKX
+$3.45M

Top Sells

Rank Stock Value
1
BPY
Brookfield Property Partners L.P. Limited Partnership Units
BPY
+$36.3M
2
TU icon
Telus
TU
+$22.6M
3
VZ icon
Verizon
VZ
+$22.3M
4
BNS icon
Scotiabank
BNS
+$20.4M
5
INTC icon
Intel
INTC
+$20.3M

Sector Composition

Rank Sector Weight
1 Financials 28.72%
2 Communication Services 18.78%
3 Materials 13.17%
4 Energy 10.2%
5 Technology 8.33%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BNS icon
1
Scotiabank
BNS
$106B
$251M 3.91%
6,061,469
-485,609
-7% -$20.4M
BCE icon
2
BCE
BCE
$19.9B
$248M 3.86%
6,006,118
-477,234
-7% -$20.2M
TU icon
3
Telus
TU
$16B
$245M 3.81%
13,958,941
-1,269,980
-8% -$22.6M
TD icon
4
Toronto Dominion Bank
TD
$198B
$241M 3.75%
5,220,241
-434,235
-8% -$20.2M
MFC icon
5
Manulife Financial
MFC
$72.6B
$237M 3.69%
17,109,785
-1,373,055
-7% -$19.7M
RY icon
6
Royal Bank of Canada
RY
$291B
$234M 3.64%
3,344,061
-281,408
-8% -$20.2M
BMO icon
7
Bank of Montreal
BMO
$125B
$228M 3.55%
3,916,122
-327,710
-8% -$19M
TECK icon
8
Teck Resources
TECK
$29.5B
$206M 3.2%
14,825,993
-955,685
-6% -$11.3M
NTR icon
9
Nutrien
NTR
$32.7B
$205M 3.19%
5,244,578
-318,869
-6% -$11.6M
MGA icon
10
Magna International
MGA
$17.9B
$194M 3.02%
4,255,826
-366,493
-8% -$17.6M
SLF icon
11
Sun Life Financial
SLF
$45.6B
$176M 2.74%
4,340,281
-284,680
-6% -$11.5M
CNQ icon
12
Canadian Natural Resources
CNQ
$96.9B
$171M 2.67%
21,909,907
-1,890,810
-8% -$17M
RCI icon
13
Rogers Communications
RCI
$17.7B
$167M 2.59%
4,214,963
-197,366
-4% -$8.1M
PVG
14
DELISTED
PRETIUM RESOURCES INC.
PVG
$147M 2.29%
11,550,706
-940,250
-8% -$10.6M
VZ icon
15
Verizon
VZ
$194B
$146M 2.27%
2,450,148
-384,102
-14% -$22.3M
CLS icon
16
Celestica
CLS
$35.1B
$127M 1.98%
18,431,188
-1,535,175
-8% -$11.5M
SU icon
17
Suncor Energy
SU
$77.7B
$126M 1.96%
10,356,188
-733,894
-7% -$11.5M
OSB
18
DELISTED
Norbord Inc.
OSB
$125M 1.95%
4,254,757
-510,101
-11% -$15.9M
HBM icon
19
Hudbay
HBM
$9.92B
$123M 1.92%
29,232,282
-4,175,950
-12% -$16.1M
CVE icon
20
Cenovus Energy
CVE
$54.6B
$121M 1.89%
31,255,468
-2,455,900
-7% -$11.3M
CM icon
21
Canadian Imperial Bank of Commerce
CM
$107B
$121M 1.88%
3,251,830
-199,760
-6% -$7.31M
T icon
22
AT&T
T
$165B
$117M 1.81%
5,415,176
-628,364
-10% -$14M
C icon
23
Citigroup
C
$222B
$88.7M 1.38%
2,058,548
-256,526
-11% -$12.8M
WMT icon
24
Walmart Inc
WMT
$871B
$82.1M 1.28%
1,761,336
-184,200
-9% -$8.19M
DKS icon
25
Dick's Sporting Goods
DKS
$18.4B
$81.1M 1.26%
1,400,643
-288,260
-17% -$14M
1
2 3 4 5

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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 2020 Portfolio in Review

As of Q3 2020, Letko, Brosseau & Associates held 105 positions worth $6.43B, down 5% from $6.77B the previous quarter. Its ten largest holdings account for 36% of the portfolio.

Letko, Brosseau & Associates withdrew a net $616M in Q3 2020, closing 8 positions and reducing 76 holdings. Its most notable exit was BlackBerry, an estimated $12.9M position sold in full.

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

Against the trend, Letko, Brosseau & Associates opened a new position in Replimune Group worth $976K.

  • Letko, Brosseau & Associates's largest Q3 2020 buy was Replimune Group: 42,400 shares worth $976K.
  • Letko, Brosseau & Associates added most to CAE Inc. Common Shares in Q3 2020, an estimated $28.5M increase.
  • Letko, Brosseau & Associates's biggest Q3 2020 reduction was Brookfield Property Partners L.P. Limited Partnership Units, cutting an estimated $36.3M.
  • Letko, Brosseau & Associates fully exited BlackBerry in Q3 2020, selling an estimated $12.9M.
  • Letko, Brosseau & Associates's ten largest holdings make up 36% of its $6.43B portfolio in Q3 2020.
  • Letko, Brosseau & Associates opened 5 new positions and closed 8 in Q3 2020.
  • Letko, Brosseau & Associates's portfolio value fell 5% quarter-over-quarter to $6.43B.

Based on Letko, Brosseau & Associates's 13F filing for Q3 2020, filed 9 Nov 2020.