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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
-1.13%
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
$6.91B
AUM Growth
-$595M
Cap. Flow
-$467M
Cap. Flow %
-6.76%
Top 10 Hldgs %
35.1%
Holding
109
New
3
Increased
13
Reduced
72
Closed
4

Top Buys

Rank Stock Value
1
BHC icon
Bausch Health
BHC
+$33M
2
MAC icon
Macerich
MAC
+$13.1M
3
MAXR
Maxar Technologies Inc. Common Stock
MAXR
+$11.4M
4
SAVE
Spirit Airlines, Inc.
SAVE
+$6.66M
5
SPR
Spirit AeroSystems
SPR
+$6.66M

Top Sells

Rank Stock Value
1
ADNT icon
Adient
ADNT
+$77.2M
2
CNQ icon
Canadian Natural Resources
CNQ
+$36.3M
3
DKS icon
Dick's Sporting Goods
DKS
+$30.9M
4
CVE icon
Cenovus Energy
CVE
+$27.6M
5
TU icon
Telus
TU
+$27.4M

Sector Composition

Rank Sector Weight
1 Financials 28.74%
2 Energy 17.27%
3 Communication Services 15.86%
4 Materials 12.6%
5 Healthcare 7.55%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CVE icon
1
Cenovus Energy
CVE
$54.2B
$264M 3.82%
26,154,684
-3,236,546
-11% -$27.6M
CNQ icon
2
Canadian Natural Resources
CNQ
$96.9B
$263M 3.81%
14,701,620
-2,207,273
-13% -$36.3M
BNS icon
3
Scotiabank
BNS
$105B
$263M 3.8%
4,269,631
-188,905
-4% -$11.8M
BMO icon
4
Bank of Montreal
BMO
$123B
$259M 3.76%
2,599,662
-143,143
-5% -$14.4M
MFC icon
5
Manulife Financial
MFC
$73B
$254M 3.68%
13,200,177
+137,175
+1% +$2.67M
TD icon
6
Toronto Dominion Bank
TD
$193B
$233M 3.37%
3,513,678
-102,650
-3% -$6.84M
RY icon
7
Royal Bank of Canada
RY
$287B
$232M 3.36%
2,335,430
-126,570
-5% -$12.9M
SU icon
8
Suncor Energy
SU
$77.7B
$220M 3.19%
10,619,711
-411,550
-4% -$8.23M
BCE icon
9
BCE
BCE
$20.8B
$219M 3.17%
4,377,552
-186,676
-4% -$9.44M
NTR icon
10
Nutrien
NTR
$33.9B
$217M 3.14%
3,344,625
-285,396
-8% -$17.4M
TECK icon
11
Teck Resources
TECK
$28.2B
$216M 3.13%
8,684,109
-570,180
-6% -$13.1M
TU icon
12
Telus
TU
$17.4B
$201M 2.91%
9,140,947
-1,216,672
-12% -$27.4M
SLF icon
13
Sun Life Financial
SLF
$45.6B
$171M 2.48%
3,331,518
-80,841
-2% -$4.16M
MGA icon
14
Magna International
MGA
$18.8B
$169M 2.45%
2,249,682
-94,154
-4% -$7.75M
RCI icon
15
Rogers Communications
RCI
$18.8B
$157M 2.27%
3,356,876
-48,800
-1% -$2.46M
OVV icon
16
Ovintiv
OVV
$17B
$142M 2.06%
4,330,216
-657,160
-13% -$18.1M
CM icon
17
Canadian Imperial Bank of Commerce
CM
$106B
$130M 1.89%
2,343,156
-56,240
-2% -$3.24M
WFG icon
18
West Fraser Timber
WFG
$5.21B
$127M 1.83%
1,504,902
-83,579
-5% -$6.23M
CLS icon
19
Celestica
CLS
$37.8B
$122M 1.76%
13,713,802
-523,141
-4% -$4.48M
C icon
20
Citigroup
C
$213B
$107M 1.55%
1,522,026
-69,965
-4% -$4.89M
HBM icon
21
Hudbay
HBM
$9.76B
$99.4M 1.44%
15,936,756
-681,625
-4% -$4.32M
GOOG icon
22
Alphabet (Google) Class C
GOOG
$4.11T
$95.6M 1.38%
717,500
-66,200
-8% -$9.13M
VZ icon
23
Verizon
VZ
$197B
$94.5M 1.37%
1,749,996
-86,112
-5% -$4.76M
TRP icon
24
TC Energy
TRP
$70.1B
$93.1M 1.35%
1,934,937
+475
+0% +$23K
PFE icon
25
Pfizer
PFE
$143B
$90.7M 1.31%
2,109,778
-148,905
-7% -$6.6M
1
2 3 4 5

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EIP
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B
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Letko, Brosseau & Associates's Q3 2021 Portfolio in Review

As of Q3 2021, Letko, Brosseau & Associates held 109 positions worth $6.91B, down 7.9% from $7.5B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Letko, Brosseau & Associates withdrew a net $467M in Q3 2021, closing 4 positions and reducing 72 holdings. Its most notable exit was Adient, an estimated $77.2M position sold in full.

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.

Against the trend, Letko, Brosseau & Associates opened a new position in Bausch Health worth $32.5M.

  • Letko, Brosseau & Associates's largest Q3 2021 buy was Bausch Health: 1,164,200 shares worth $32.5M.
  • Letko, Brosseau & Associates added most to Macerich in Q3 2021, an estimated $13.1M increase.
  • Letko, Brosseau & Associates's biggest Q3 2021 reduction was Canadian Natural Resources, cutting an estimated $36.3M.
  • Letko, Brosseau & Associates fully exited Adient in Q3 2021, selling an estimated $77.2M.
  • Letko, Brosseau & Associates's ten largest holdings make up 35% of its $6.91B portfolio in Q3 2021.
  • Letko, Brosseau & Associates opened 3 new positions and closed 4 in Q3 2021.
  • Letko, Brosseau & Associates's portfolio value fell 7.9% quarter-over-quarter to $6.91B.

Based on Letko, Brosseau & Associates's 13F filing for Q3 2021, filed 3 Nov 2021.