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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
+3.95%
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
$5.35B
AUM Growth
-$201M
Cap. Flow
-$304M
Cap. Flow %
-5.69%
Top 10 Hldgs %
34.01%
Holding
100
New
3
Increased
29
Reduced
46
Closed
11

Top Buys

Rank Stock Value
1
ADNT icon
Adient
ADNT
+$58.6M
2
GOOG icon
Alphabet (Google) Class C
GOOG
+$13.8M
3
GEHC icon
GE HealthCare
GEHC
+$13.5M
4
TFC icon
Truist Financial
TFC
+$12.1M
5
META icon
Meta Platforms (Facebook)
META
+$10.6M

Top Sells

Rank Stock Value
1
TRP icon
TC Energy
TRP
+$62.7M
2
TECK icon
Teck Resources
TECK
+$56.9M
3
GE icon
GE Aerospace
GE
+$47.8M
4
SJR
Shaw Communications Inc.
SJR
+$43M
5
MAXR
Maxar Technologies Inc. Common Stock
MAXR
+$40.9M

Sector Composition

Rank Sector Weight
1 Financials 29.43%
2 Communication Services 16.93%
3 Materials 11.11%
4 Energy 10.38%
5 Technology 9.29%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MFC icon
1
Manulife Financial
MFC
$73B
$237M 4.43%
12,920,576
-599,190
-4% -$11.4M
BNS icon
2
Scotiabank
BNS
$105B
$212M 3.95%
4,205,228
+6,332
+0.2% +$325K
RY icon
3
Royal Bank of Canada
RY
$287B
$194M 3.63%
2,030,596
-17,958
-0.9% -$1.78M
TD icon
4
Toronto Dominion Bank
TD
$193B
$187M 3.5%
3,128,242
+16,390
+0.5% +$1.06M
RCI icon
5
Rogers Communications
RCI
$18.8B
$183M 3.42%
3,952,011
-76,175
-2% -$3.61M
BMO icon
6
Bank of Montreal
BMO
$123B
$178M 3.34%
2,005,828
-10,033
-0.5% -$952K
NTR icon
7
Nutrien
NTR
$33.9B
$158M 2.95%
2,142,323
+19,048
+0.9% +$1.47M
CLS icon
8
Celestica
CLS
$37.8B
$157M 2.94%
12,223,260
-788,050
-6% -$10.1M
BCE icon
9
BCE
BCE
$20.8B
$157M 2.94%
3,518,734
+27,023
+0.8% +$1.22M
MGA icon
10
Magna International
MGA
$18.8B
$156M 2.91%
2,914,012
+144,590
+5% +$8.37M
TU icon
11
Telus
TU
$17.4B
$143M 2.68%
7,226,473
+46,650
+0.6% +$949K
SLF icon
12
Sun Life Financial
SLF
$45.6B
$141M 2.64%
3,024,332
-47,175
-2% -$2.27M
TECK icon
13
Teck Resources
TECK
$28.2B
$133M 2.49%
3,650,220
-1,434,859
-28% -$56.9M
SU icon
14
Suncor Energy
SU
$77.7B
$131M 2.45%
4,233,308
-103,750
-2% -$3.37M
CVE icon
15
Cenovus Energy
CVE
$54.2B
$105M 1.97%
6,037,240
-173,087
-3% -$3.18M
OTEX icon
16
Open Text
OTEX
$6.28B
$105M 1.96%
2,719,428
+120,405
+5% +$4.16M
CM icon
17
Canadian Imperial Bank of Commerce
CM
$106B
$98.6M 1.84%
2,327,765
+111,204
+5% +$4.88M
GOOG icon
18
Alphabet (Google) Class C
GOOG
$4.11T
$98M 1.83%
942,346
+142,421
+18% +$13.8M
CNQ icon
19
Canadian Natural Resources
CNQ
$96.9B
$96M 1.79%
3,474,756
-181,910
-5% -$5.15M
HBM icon
20
Hudbay
HBM
$9.76B
$88.9M 1.66%
16,967,462
-514,200
-3% -$2.7M
META icon
21
Meta Platforms (Facebook)
META
$1.49T
$86.3M 1.61%
406,982
+62,230
+18% +$10.6M
T icon
22
AT&T
T
$164B
$82.1M 1.54%
4,265,647
+3,925
+0.1% +$75K
GILD icon
23
Gilead Sciences
GILD
$165B
$81.6M 1.53%
983,440
-18,663
-2% -$1.55M
WFG icon
24
West Fraser Timber
WFG
$5.21B
$79.9M 1.49%
1,121,586
-6,597
-0.6% -$507K
CAE icon
25
CAE Inc. Common Shares
CAE
$8.44B
$74.2M 1.39%
3,286,619
-68,975
-2% -$1.51M
1
2 3 4

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Letko, Brosseau & Associates's Q1 2023 Portfolio in Review

As of Q1 2023, Letko, Brosseau & Associates held 100 positions worth $5.35B, down 3.6% from $5.55B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Letko, Brosseau & Associates withdrew a net $304M in Q1 2023, closing 11 positions and reducing 46 holdings. Its most notable exit was TC Energy, an estimated $62.7M 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 Adient worth $57.5M.

  • Letko, Brosseau & Associates's largest Q1 2023 buy was Adient: 1,403,273 shares worth $57.5M.
  • Letko, Brosseau & Associates added most to Alphabet (Google) Class C in Q1 2023, an estimated $13.8M increase.
  • Letko, Brosseau & Associates's biggest Q1 2023 reduction was Teck Resources, cutting an estimated $56.9M.
  • Letko, Brosseau & Associates fully exited TC Energy in Q1 2023, selling an estimated $62.7M.
  • Letko, Brosseau & Associates's ten largest holdings make up 34% of its $5.35B portfolio in Q1 2023.
  • Letko, Brosseau & Associates opened 3 new positions and closed 11 in Q1 2023.
  • Letko, Brosseau & Associates's portfolio value fell 3.6% quarter-over-quarter to $5.35B.

Based on Letko, Brosseau & Associates's 13F filing for Q1 2023, filed 11 May 2023.