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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
-0.85%
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
$4.7B
AUM Growth
-$472M
Cap. Flow
-$338M
Cap. Flow %
-7.2%
Top 10 Hldgs %
35.12%
Holding
103
New
3
Increased
17
Reduced
56
Closed
14

Top Buys

Rank Stock Value
1
ADBE icon
Adobe
ADBE
+$68.7M
2
INTC icon
Intel
INTC
+$20.9M
3
RCI icon
Rogers Communications
RCI
+$19.1M
4
ILMN icon
Illumina
ILMN
+$17.1M
5
OTEX icon
Open Text
OTEX
+$14.1M

Top Sells

Rank Stock Value
1
BERY
Berry Global Group, Inc.
BERY
+$61.8M
2
ORCL icon
Oracle
ORCL
+$59.5M
3
META icon
Meta Platforms (Facebook)
META
+$58.4M
4
MFC icon
Manulife Financial
MFC
+$33.3M
5
RY icon
Royal Bank of Canada
RY
+$29.7M

Sector Composition

Rank Sector Weight
1 Financials 33.12%
2 Communication Services 18.53%
3 Materials 11.51%
4 Healthcare 10.57%
5 Technology 7.59%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MFC icon
1
Manulife Financial
MFC
$73B
$195M 4.16%
6,274,747
-1,102,400
-15% -$33.3M
TD icon
2
Toronto Dominion Bank
TD
$193B
$195M 4.16%
3,261,565
-90,825
-3% -$5.29M
BNS icon
3
Scotiabank
BNS
$105B
$190M 4.04%
4,011,525
-115,845
-3% -$5.81M
BMO icon
4
Bank of Montreal
BMO
$123B
$174M 3.71%
1,826,599
-52,365
-3% -$5.18M
RY icon
5
Royal Bank of Canada
RY
$287B
$174M 3.7%
1,546,167
-252,593
-14% -$29.7M
SLF icon
6
Sun Life Financial
SLF
$45.6B
$159M 3.37%
2,769,959
+116,395
+4% +$6.63M
RCI icon
7
Rogers Communications
RCI
$18.8B
$157M 3.34%
5,885,187
+674,807
+13% +$19.1M
NTR icon
8
Nutrien
NTR
$33.9B
$149M 3.17%
3,001,478
-85,462
-3% -$4.37M
MGA icon
9
Magna International
MGA
$18.8B
$135M 2.86%
3,959,210
-52,170
-1% -$2M
OTEX icon
10
Open Text
OTEX
$6.28B
$123M 2.61%
4,860,805
+512,050
+12% +$14.1M
META icon
11
Meta Platforms (Facebook)
META
$1.49T
$122M 2.6%
211,734
-90,462
-30% -$58.4M
T icon
12
AT&T
T
$164B
$119M 2.54%
4,225,100
-318,325
-7% -$8M
BCE icon
13
BCE
BCE
$20.8B
$119M 2.54%
5,202,254
+567,705
+12% +$13.4M
GOOG icon
14
Alphabet (Google) Class C
GOOG
$4.11T
$119M 2.53%
760,373
-4,308
-0.6% -$789K
CM icon
15
Canadian Imperial Bank of Commerce
CM
$106B
$111M 2.37%
1,978,257
-418,075
-17% -$25.2M
PFE icon
16
Pfizer
PFE
$143B
$97.5M 2.07%
3,847,588
-16,400
-0.4% -$429K
B
17
Barrick Mining
B
$60.9B
$97M 2.06%
4,997,850
+191,350
+4% +$3.35M
TU icon
18
Telus
TU
$17.4B
$92.6M 1.97%
6,456,317
-75,400
-1% -$1.11M
WFG icon
19
West Fraser Timber
WFG
$5.21B
$83.9M 1.78%
1,092,802
-18,604
-2% -$1.53M
CAE icon
20
CAE Inc. Common Shares
CAE
$8.44B
$83.2M 1.77%
3,384,874
-690,605
-17% -$16.8M
SU icon
21
Suncor Energy
SU
$77.7B
$80.8M 1.72%
2,087,905
-93,190
-4% -$3.56M
CVE icon
22
Cenovus Energy
CVE
$54.2B
$79.4M 1.69%
5,713,129
+726,953
+15% +$10.5M
CVS icon
23
CVS Health
CVS
$135B
$75.4M 1.6%
1,112,190
-2,470
-0.2% -$148K
VZ icon
24
Verizon
VZ
$197B
$74.9M 1.59%
1,651,143
-59,769
-3% -$2.49M
EMN icon
25
Eastman Chemical
EMN
$7.69B
$73.1M 1.55%
829,526
-13,540
-2% -$1.28M
1
2 3 4 5

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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 Q1 2025 Portfolio in Review

As of Q1 2025, Letko, Brosseau & Associates held 103 positions worth $4.7B, down 9.1% from $5.17B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Letko, Brosseau & Associates withdrew a net $338M in Q1 2025, closing 14 positions and reducing 56 holdings. Its most notable exit was Berry Global Group, Inc., an estimated $61.8M position sold in full.

By sector, the portfolio is most concentrated in Financials at 33% of assets, down from 34% a quarter earlier, followed by Communication Services and Materials.

Against the trend, Letko, Brosseau & Associates opened a new position in Adobe worth $61.4M.

  • Letko, Brosseau & Associates's largest Q1 2025 buy was Adobe: 160,141 shares worth $61.4M.
  • Letko, Brosseau & Associates added most to Intel in Q1 2025, an estimated $20.9M increase.
  • Letko, Brosseau & Associates's biggest Q1 2025 reduction was Meta Platforms (Facebook), cutting an estimated $58.4M.
  • Letko, Brosseau & Associates fully exited Berry Global Group, Inc. in Q1 2025, selling an estimated $61.8M.
  • Letko, Brosseau & Associates's ten largest holdings make up 35% of its $4.7B portfolio in Q1 2025.
  • Letko, Brosseau & Associates opened 3 new positions and closed 14 in Q1 2025.
  • Letko, Brosseau & Associates's portfolio value fell 9.1% quarter-over-quarter to $4.7B.

Based on Letko, Brosseau & Associates's 13F filing for Q1 2025, filed 8 May 2025.