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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
+11.8%
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
$5.82B
AUM Growth
+$595M
Cap. Flow
+$58.3M
Cap. Flow %
1%
Top 10 Hldgs %
37.51%
Holding
100
New
7
Increased
34
Reduced
44
Closed
2

Top Buys

1
BCE icon
BCE
BCE
+$33.7M
2
UPS icon
United Parcel Service
UPS
+$30.2M
3
SLF icon
Sun Life Financial
SLF
+$26.8M
4
LULU icon
lululemon athletica
LULU
+$25.5M
5
ADBE icon
Adobe
ADBE
+$24.7M

Top Sells

1
HBM icon
Hudbay
HBM
+$51.9M
2
HES
Hess
HES
+$18.2M
3
C icon
Citigroup
C
+$14.5M
4
AMRZ
Amrize Ltd
AMRZ
+$13.7M
5
GILD icon
Gilead Sciences
GILD
+$12.5M

Sector Composition

1 Financials 32.97%
2 Communication Services 19.08%
3 Materials 10.87%
4 Healthcare 9.14%
5 Technology 9.08%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BNS icon
1
Scotiabank
BNS
$110B
$257M 4.42%
3,980,065
-72,030
-2% -$4.25M
TD icon
2
Toronto Dominion Bank
TD
$205B
$242M 4.17%
3,032,023
-152,625
-5% -$11.5M
BMO icon
3
Bank of Montreal
BMO
$128B
$231M 3.97%
1,774,869
-34,430
-2% -$4.08M
RCI icon
4
Rogers Communications
RCI
$18.8B
$230M 3.96%
6,691,022
-62,965
-0.9% -$2.17M
RY icon
5
Royal Bank of Canada
RY
$301B
$221M 3.8%
1,501,190
-27,345
-2% -$3.77M
OTEX icon
6
Open Text
OTEX
$5.64B
$211M 3.63%
5,653,268
+3,450
+0.1% +$111K
GOOG icon
7
Alphabet (Google) Class C
GOOG
$4.22T
$209M 3.59%
857,620
-9,305
-1% -$1.96M
MGA icon
8
Magna International
MGA
$18.1B
$195M 3.36%
4,124,045
+72,615
+2% +$3.2M
MFC icon
9
Manulife Financial
MFC
$72.3B
$194M 3.33%
6,214,467
-39,775
-0.6% -$1.23M
SLF icon
10
Sun Life Financial
SLF
$45.4B
$192M 3.3%
3,195,004
+446,210
+16% +$26.8M
NTR icon
11
Nutrien
NTR
$32.3B
$171M 2.94%
2,915,069
-27,694
-0.9% -$1.61M
BCE icon
12
BCE
BCE
$20.5B
$165M 2.83%
7,045,751
+1,397,817
+25% +$33.7M
B
13
Barrick Mining
B
$58.7B
$161M 2.76%
4,900,075
-115,950
-2% -$2.94M
CM icon
14
Canadian Imperial Bank of Commerce
CM
$112B
$151M 2.6%
1,891,602
-62,000
-3% -$4.67M
META icon
15
Meta Platforms (Facebook)
META
$1.63T
$146M 2.51%
198,596
-11,655
-6% -$8.67M
T icon
16
AT&T
T
$152B
$116M 1.99%
4,103,475
-67,650
-2% -$1.92M
TU icon
17
Telus
TU
$16.3B
$104M 1.79%
6,627,062
+31,625
+0.5% +$513K
PFE icon
18
Pfizer
PFE
$143B
$103M 1.77%
4,038,438
+52,550
+1% +$1.3M
CVE icon
19
Cenovus Energy
CVE
$51.6B
$102M 1.75%
6,005,443
-51,885
-0.9% -$810K
INTC icon
20
Intel
INTC
$479B
$101M 1.74%
3,024,170
+42,625
+1% +$1.03M
CAE icon
21
CAE Inc
CAE
$7.97B
$96.3M 1.65%
3,251,140
-72,625
-2% -$2.04M
SU icon
22
Suncor Energy
SU
$73B
$86.5M 1.49%
2,067,377
-17,850
-0.9% -$716K
CVS icon
23
CVS Health
CVS
$137B
$84.1M 1.44%
1,115,585
+3,500
+0.3% +$240K
C icon
24
Citigroup
C
$218B
$83.4M 1.43%
821,495
-152,982
-16% -$14.5M
ADBE icon
25
Adobe
ADBE
$93.4B
$83.3M 1.43%
236,110
+68,855
+41% +$24.7M
1
2 3 4

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EIP
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Letko, Brosseau & Associates's Q3 2025 Portfolio in Review

As of Q3 2025, Letko, Brosseau & Associates held 100 positions worth $5.82B, up 11% from $5.23B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Letko, Brosseau & Associates's Q3 2025 filing shows 7 new, 34 increased, 44 reduced and 2 closed positions. Its largest new stake was Chevron: 133,429 shares worth $20.7M. The largest sale was Hudbay, an estimated $51.9M.

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.

  • Letko, Brosseau & Associates's largest Q3 2025 buy was Chevron: 133,429 shares worth $20.7M.
  • Letko, Brosseau & Associates added most to BCE in Q3 2025, an estimated $33.7M increase.
  • Letko, Brosseau & Associates's biggest Q3 2025 reduction was Hudbay, cutting an estimated $51.9M.
  • Letko, Brosseau & Associates fully exited Hess in Q3 2025, selling an estimated $18.2M.
  • Letko, Brosseau & Associates's ten largest holdings make up 38% of its $5.82B portfolio in Q3 2025.
  • Letko, Brosseau & Associates opened 7 new positions and closed 2 in Q3 2025.
  • Letko, Brosseau & Associates's portfolio value rose 11% quarter-over-quarter to $5.82B.

Based on Letko, Brosseau & Associates's 13F filing for Q3 2025, filed 12 Nov 2025.