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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
+9.6%
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
$7.5B
AUM Growth
+$173M
Cap. Flow
-$464M
Cap. Flow %
-6.18%
Top 10 Hldgs %
35.15%
Holding
108
New
6
Increased
13
Reduced
69
Closed
2

Top Buys

Rank Stock Value
1
ELP
Companhia Paranaense de Energia (COPEL)
ELP
+$35.2M
2
PFE icon
Pfizer
PFE
+$30.9M
3
MAC icon
Macerich
MAC
+$20.2M
4
MAXR
Maxar Technologies Inc. Common Stock
MAXR
+$17.3M
5
CRUS icon
Cirrus Logic
CRUS
+$9.2M

Top Sells

Rank Stock Value
1
BPY
Brookfield Property Partners L.P. Limited Partnership Units
BPY
+$72M
2
WFG icon
West Fraser Timber
WFG
+$34.3M
3
CNQ icon
Canadian Natural Resources
CNQ
+$32.7M
4
DKS icon
Dick's Sporting Goods
DKS
+$30.6M
5
CVE icon
Cenovus Energy
CVE
+$28.7M

Sector Composition

Rank Sector Weight
1 Financials 28.16%
2 Energy 17.88%
3 Communication Services 15.97%
4 Materials 11.88%
5 Technology 7.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CNQ icon
1
Canadian Natural Resources
CNQ
$99.4B
$301M 4.01%
16,908,893
-1,988,678
-11% -$32.7M
BNS icon
2
Scotiabank
BNS
$107B
$290M 3.87%
4,458,536
-216,798
-5% -$14M
CVE icon
3
Cenovus Energy
CVE
$55.7B
$281M 3.75%
29,391,230
-3,391,774
-10% -$28.7M
BMO icon
4
Bank of Montreal
BMO
$126B
$281M 3.75%
2,742,805
-199,039
-7% -$19.6M
SU icon
5
Suncor Energy
SU
$79.4B
$264M 3.53%
11,031,261
-843,459
-7% -$19.3M
MFC icon
6
Manulife Financial
MFC
$73.9B
$257M 3.43%
13,063,002
-289,692
-2% -$6.07M
TD icon
7
Toronto Dominion Bank
TD
$198B
$254M 3.38%
3,616,328
-226,512
-6% -$15.8M
RY icon
8
Royal Bank of Canada
RY
$291B
$250M 3.33%
2,462,000
-110,019
-4% -$10.9M
TU icon
9
Telus
TU
$14.9B
$233M 3.1%
10,357,619
-552,411
-5% -$12M
BCE icon
10
BCE
BCE
$20.2B
$225M 3%
4,564,228
-238,689
-5% -$11.6M
NTR icon
11
Nutrien
NTR
$33.2B
$220M 2.93%
3,630,021
-219,239
-6% -$13M
MGA icon
12
Magna International
MGA
$18.7B
$217M 2.9%
2,343,836
-196,317
-8% -$18.7M
TECK icon
13
Teck Resources
TECK
$29.6B
$213M 2.84%
9,254,289
-795,821
-8% -$18.1M
RCI icon
14
Rogers Communications
RCI
$18.3B
$181M 2.42%
3,405,676
-66,880
-2% -$3.37M
SLF icon
15
Sun Life Financial
SLF
$46B
$176M 2.35%
3,412,359
-156,763
-4% -$8.28M
OVV icon
16
Ovintiv
OVV
$17.3B
$157M 2.1%
4,987,376
-630,634
-11% -$16.9M
CM icon
17
Canadian Imperial Bank of Commerce
CM
$108B
$137M 1.82%
2,399,396
-75,522
-3% -$4.14M
WFG icon
18
West Fraser Timber
WFG
$5.08B
$114M 1.52%
1,588,481
-446,398
-22% -$34.3M
C icon
19
Citigroup
C
$222B
$113M 1.5%
1,591,991
-60,455
-4% -$4.47M
CLS icon
20
Celestica
CLS
$38.1B
$112M 1.49%
14,236,943
-406,400
-3% -$3.39M
HBM icon
21
Hudbay
HBM
$10.1B
$111M 1.48%
16,618,381
-1,342,510
-7% -$10M
VZ icon
22
Verizon
VZ
$195B
$103M 1.37%
1,836,108
-46,835
-2% -$2.69M
GOOG icon
23
Alphabet (Google) Class C
GOOG
$4.36T
$98.2M 1.31%
783,700
-29,380
-4% -$3.5M
TRP icon
24
TC Energy
TRP
$70.2B
$95.8M 1.28%
1,934,462
-37,793
-2% -$1.89M
T icon
25
AT&T
T
$159B
$94.6M 1.26%
4,353,983
-102,173
-2% -$2.32M
1
2 3 4 5

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EIP
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Letko, Brosseau & Associates's Q2 2021 Portfolio in Review

As of Q2 2021, Letko, Brosseau & Associates held 108 positions worth $7.5B, up 2.4% from $7.33B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Letko, Brosseau & Associates withdrew a net $464M in Q2 2021, closing 2 positions and reducing 69 holdings. Its most notable exit was Brookfield Property Partners L.P. Limited Partnership Units, an estimated $72M position sold in full.

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

Against the trend, Letko, Brosseau & Associates opened a new position in Companhia Paranaense de Energia (COPEL) worth $35.4M.

  • Letko, Brosseau & Associates's largest Q2 2021 buy was Companhia Paranaense de Energia (COPEL): 7,679,175 shares worth $35.4M.
  • Letko, Brosseau & Associates added most to Pfizer in Q2 2021, an estimated $30.9M increase.
  • Letko, Brosseau & Associates's biggest Q2 2021 reduction was West Fraser Timber, cutting an estimated $34.3M.
  • Letko, Brosseau & Associates fully exited Brookfield Property Partners L.P. Limited Partnership Units in Q2 2021, selling an estimated $72M.
  • Letko, Brosseau & Associates's ten largest holdings make up 35% of its $7.5B portfolio in Q2 2021.
  • Letko, Brosseau & Associates opened 6 new positions and closed 2 in Q2 2021.
  • Letko, Brosseau & Associates's portfolio value rose 2.4% quarter-over-quarter to $7.5B.

Based on Letko, Brosseau & Associates's 13F filing for Q2 2021, filed 29 Jul 2021.