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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
+8.72%
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
$6.7B
AUM Growth
-$277M
Cap. Flow
-$747M
Cap. Flow %
-11.15%
Top 10 Hldgs %
35.66%
Holding
110
New
3
Increased
15
Reduced
63
Closed
9

Top Buys

Rank Stock Value
1
ADNT icon
Adient
ADNT
+$65.3M
2
SHEL icon
Shell
SHEL
+$56.7M
3
MGA icon
Magna International
MGA
+$28.3M
4
SWKS icon
Skyworks Solutions
SWKS
+$18.3M
5
MAC icon
Macerich
MAC
+$15M

Top Sells

Rank Stock Value
1
PVG
PRETIUM RESOURCES INC.
PVG
+$101M
2
CVE icon
Cenovus Energy
CVE
+$87.9M
3
CNQ icon
Canadian Natural Resources
CNQ
+$85.8M
4
SU icon
Suncor Energy
SU
+$78.5M
5
TECK icon
Teck Resources
TECK
+$69.7M

Sector Composition

Rank Sector Weight
1 Financials 29.09%
2 Communication Services 16.29%
3 Energy 13.06%
4 Materials 12.61%
5 Healthcare 8.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BNS icon
1
Scotiabank
BNS
$105B
$283M 4.23%
3,951,491
-296,240
-7% -$21.5M
MFC icon
2
Manulife Financial
MFC
$73B
$273M 4.07%
12,777,321
-838,131
-6% -$17.2M
TECK icon
3
Teck Resources
TECK
$28.2B
$251M 3.74%
6,198,811
-1,948,750
-24% -$69.7M
TD icon
4
Toronto Dominion Bank
TD
$193B
$248M 3.7%
3,126,110
-201,630
-6% -$16.2M
NTR icon
5
Nutrien
NTR
$33.9B
$244M 3.64%
2,361,553
-794,141
-25% -$65.8M
BMO icon
6
Bank of Montreal
BMO
$123B
$240M 3.59%
2,041,356
-392,776
-16% -$45.5M
RY icon
7
Royal Bank of Canada
RY
$287B
$233M 3.48%
2,116,900
-116,052
-5% -$13M
BCE icon
8
BCE
BCE
$20.8B
$207M 3.08%
3,725,443
-455,848
-11% -$24.2M
SU icon
9
Suncor Energy
SU
$77.7B
$206M 3.08%
6,326,996
-2,643,180
-29% -$78.5M
RCI icon
10
Rogers Communications
RCI
$18.8B
$205M 3.05%
3,611,406
-237,160
-6% -$12.3M
TU icon
11
Telus
TU
$17.4B
$203M 3.03%
7,767,887
-1,042,960
-12% -$25.8M
MGA icon
12
Magna International
MGA
$18.8B
$170M 2.54%
2,645,637
+381,559
+17% +$28.3M
SLF icon
13
Sun Life Financial
SLF
$45.6B
$169M 2.52%
3,022,152
-213,275
-7% -$11.7M
CNQ icon
14
Canadian Natural Resources
CNQ
$96.9B
$165M 2.46%
5,438,802
-3,218,767
-37% -$85.8M
CVE icon
15
Cenovus Energy
CVE
$54.2B
$151M 2.25%
9,042,983
-5,792,538
-39% -$87.9M
CLS icon
16
Celestica
CLS
$37.8B
$150M 2.23%
12,582,960
-852,267
-6% -$10.1M
CM icon
17
Canadian Imperial Bank of Commerce
CM
$106B
$131M 1.95%
2,156,636
-108,844
-5% -$6.87M
HBM icon
18
Hudbay
HBM
$9.76B
$113M 1.68%
14,322,012
-1,046,644
-7% -$8.13M
WFG icon
19
West Fraser Timber
WFG
$5.21B
$108M 1.62%
1,315,861
-112,284
-8% -$10.6M
ABBV icon
20
AbbVie
ABBV
$465B
$107M 1.59%
658,894
-41,775
-6% -$6.07M
PFE icon
21
Pfizer
PFE
$143B
$100M 1.5%
1,936,983
-102,480
-5% -$5.32M
TRP icon
22
TC Energy
TRP
$70.1B
$96.4M 1.44%
1,707,622
-165,065
-9% -$8.69M
GOOG icon
23
Alphabet (Google) Class C
GOOG
$4.11T
$93.9M 1.4%
672,520
-16,400
-2% -$2.23M
VZ icon
24
Verizon
VZ
$197B
$86.1M 1.28%
1,690,749
-35,930
-2% -$1.9M
OTEX icon
25
Open Text
OTEX
$6.28B
$85.7M 1.28%
2,018,398
+83,437
+4% +$3.71M
1
2 3 4 5

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Letko, Brosseau & Associates's Q1 2022 Portfolio in Review

As of Q1 2022, Letko, Brosseau & Associates held 110 positions worth $6.7B, down 4% from $6.98B the previous quarter. Its ten largest holdings account for 36% of the portfolio.

Letko, Brosseau & Associates withdrew a net $747M in Q1 2022, closing 9 positions and reducing 63 holdings. Its most notable exit was PRETIUM RESOURCES INC., an estimated $101M 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 Energy.

Against the trend, Letko, Brosseau & Associates opened a new position in Adient worth $62M.

  • Letko, Brosseau & Associates's largest Q1 2022 buy was Adient: 1,519,625 shares worth $62M.
  • Letko, Brosseau & Associates added most to Magna International in Q1 2022, an estimated $28.3M increase.
  • Letko, Brosseau & Associates's biggest Q1 2022 reduction was Cenovus Energy, cutting an estimated $87.9M.
  • Letko, Brosseau & Associates fully exited PRETIUM RESOURCES INC. in Q1 2022, selling an estimated $101M.
  • Letko, Brosseau & Associates's ten largest holdings make up 36% of its $6.7B portfolio in Q1 2022.
  • Letko, Brosseau & Associates opened 3 new positions and closed 9 in Q1 2022.
  • Letko, Brosseau & Associates's portfolio value fell 4% quarter-over-quarter to $6.7B.

Based on Letko, Brosseau & Associates's 13F filing for Q1 2022, filed 11 May 2022.