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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
+27.7%
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
$7.3B
AUM Growth
+$872M
Cap. Flow
-$617M
Cap. Flow %
-8.46%
Top 10 Hldgs %
35.91%
Holding
108
New
11
Increased
15
Reduced
71
Closed
2

Top Buys

Rank Stock Value
1
CVS icon
CVS Health
CVS
+$32.1M
2
SU icon
Suncor Energy
SU
+$14.7M
3
PROF
Profound Medical
PROF
+$14.6M
4
OTEX icon
Open Text
OTEX
+$10.1M
5
GE icon
GE Aerospace
GE
+$9.31M

Top Sells

Rank Stock Value
1
FCX icon
Freeport-McMoran
FCX
+$39.2M
2
TU icon
Telus
TU
+$27.3M
3
HBM icon
Hudbay
HBM
+$27.2M
4
VZ icon
Verizon
VZ
+$25.5M
5
MGA icon
Magna International
MGA
+$24.6M

Sector Composition

Rank Sector Weight
1 Financials 28.93%
2 Communication Services 16.1%
3 Materials 12.96%
4 Energy 12.54%
5 Technology 7.42%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BNS icon
1
Scotiabank
BNS
$106B
$300M 4.11%
5,553,904
-507,565
-8% -$24.1M
MFC icon
2
Manulife Financial
MFC
$72.6B
$278M 3.81%
15,624,010
-1,485,775
-9% -$23.7M
BMO icon
3
Bank of Montreal
BMO
$125B
$272M 3.73%
3,581,728
-334,394
-9% -$22.9M
MGA icon
4
Magna International
MGA
$17.9B
$271M 3.72%
3,837,296
-418,530
-10% -$24.6M
TD icon
5
Toronto Dominion Bank
TD
$198B
$267M 3.66%
4,734,491
-485,750
-9% -$24.6M
RY icon
6
Royal Bank of Canada
RY
$291B
$253M 3.47%
3,081,867
-262,194
-8% -$20.3M
CNQ icon
7
Canadian Natural Resources
CNQ
$96.9B
$252M 3.45%
21,436,452
-473,455
-2% -$4.76M
TU icon
8
Telus
TU
$16B
$247M 3.39%
12,505,888
-1,453,053
-10% -$27.3M
TECK icon
9
Teck Resources
TECK
$29.5B
$245M 3.36%
13,525,983
-1,300,010
-9% -$20M
BCE icon
10
BCE
BCE
$19.9B
$235M 3.22%
5,495,542
-510,576
-9% -$21.8M
NTR icon
11
Nutrien
NTR
$32.7B
$232M 3.18%
4,829,863
-414,715
-8% -$18.3M
SU icon
12
Suncor Energy
SU
$77.7B
$190M 2.61%
11,358,888
+1,002,700
+10% +$14.7M
RCI icon
13
Rogers Communications
RCI
$17.7B
$186M 2.55%
4,001,449
-213,514
-5% -$9.45M
SLF icon
14
Sun Life Financial
SLF
$45.6B
$185M 2.53%
4,156,027
-184,254
-4% -$7.98M
CVE icon
15
Cenovus Energy
CVE
$54.6B
$176M 2.41%
28,870,423
-2,385,045
-8% -$11.1M
HBM icon
16
Hudbay
HBM
$9.92B
$171M 2.34%
24,426,941
-4,805,341
-16% -$27.2M
OSB
17
DELISTED
Norbord Inc.
OSB
$166M 2.28%
3,849,712
-405,045
-10% -$14.8M
CLS icon
18
Celestica
CLS
$35.1B
$137M 1.87%
16,940,828
-1,490,360
-8% -$10.9M
CM icon
19
Canadian Imperial Bank of Commerce
CM
$107B
$130M 1.78%
3,042,730
-209,100
-6% -$8.52M
PVG
20
DELISTED
PRETIUM RESOURCES INC.
PVG
$122M 1.67%
10,659,306
-891,400
-8% -$10.7M
VZ icon
21
Verizon
VZ
$194B
$119M 1.63%
2,020,394
-429,754
-18% -$25.5M
C icon
22
Citigroup
C
$222B
$110M 1.51%
1,788,520
-270,028
-13% -$13.7M
CAE icon
23
CAE Inc. Common Shares
CAE
$8.1B
$104M 1.42%
3,748,070
-771,060
-17% -$16.6M
T icon
24
AT&T
T
$165B
$103M 1.42%
4,760,167
-655,009
-12% -$14.1M
OTEX icon
25
Open Text
OTEX
$5.43B
$88.8M 1.22%
1,956,890
+236,580
+14% +$10.1M
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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Letko, Brosseau & Associates's Q4 2020 Portfolio in Review

As of Q4 2020, Letko, Brosseau & Associates held 108 positions worth $7.3B, up 14% from $6.43B the previous quarter. Its ten largest holdings account for 36% of the portfolio.

Letko, Brosseau & Associates withdrew a net $617M in Q4 2020, closing 2 positions and reducing 71 holdings. Its most notable exit was TFI International, an estimated $390K position sold in full.

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

Against the trend, Letko, Brosseau & Associates opened a new position in CVS Health worth $33.7M.

  • Letko, Brosseau & Associates's largest Q4 2020 buy was CVS Health: 492,850 shares worth $33.7M.
  • Letko, Brosseau & Associates added most to Suncor Energy in Q4 2020, an estimated $14.7M increase.
  • Letko, Brosseau & Associates's biggest Q4 2020 reduction was Freeport-McMoran, cutting an estimated $39.2M.
  • Letko, Brosseau & Associates fully exited TFI International in Q4 2020, selling an estimated $390K.
  • Letko, Brosseau & Associates's ten largest holdings make up 36% of its $7.3B portfolio in Q4 2020.
  • Letko, Brosseau & Associates opened 11 new positions and closed 2 in Q4 2020.
  • Letko, Brosseau & Associates's portfolio value rose 14% quarter-over-quarter to $7.3B.

Based on Letko, Brosseau & Associates's 13F filing for Q4 2020, filed 5 Feb 2021.