Institutional Manager · CIK 0001297496
LETKO, BROSSEAU & ASSOCIATES INC
MONTREAL, A8 · File #028-10940
Latest AUM
$6.11B
Positions
100
Top-10 Concentration
41.3%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| NEW | CANADIAN NATL RY CO | 136375102 | +773,340 | +$76.6M | $0 |
| NEW | TOTALENERGIES SE | TTE | +1,106,404 | +$72.2M | $0 |
| ADD | COMPANHIA PARANAENSE DE ENER | 20441B704 | +7,210,646 | +$68.6M | +$36,166 |
| EXITED | COMPANHIA PARANAENSE DE ENER | 20441B605 | -6,696,046 | -$65.6M | $0 |
| EXITED | GILEAD SCIENCES INC | 375558103 | -423,520 | -$47.0M | $0 |
| REDUCE | SHELL PLC | RYDAF | -625,892 | -$46.0M | +$1.2M |
| REDUCE | HUDBAY MINERALS INC | HBM | -1,962,225 | -$39.0M | +$16.7M |
| REDUCE | ENERFLEX LTD | EFXT | -2,158,748 | -$33.3M | +$23.1M |
| REDUCE | TORONTO DOMINION BK ONT | TORO | -289,275 | -$27.3M | +$43.6M |
| REDUCE | WALMART INC | WMT | -188,905 | -$21.0M | +$3.3M |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 2025100 pos · $6.11B
- 13F HOLDINGS REPORTQ/E Sep 202598 pos · $5.82B
- 13F HOLDINGS REPORTQ/E Jun 202593 pos · $5.23B
- 13F HOLDINGS REPORTQ/E Mar 202589 pos · $4.70B
- 13F HOLDINGS REPORTQ/E Dec 2024100 pos · $5.17B
- 13F HOLDINGS REPORTQ/E Sep 2024101 pos · $5.51B
- 13F HOLDINGS REPORTQ/E Jun 2024104 pos · $5.27B
- 13F HOLDINGS REPORTQ/E Mar 2024102 pos · $5.75B
- 13F HOLDINGS REPORTQ/E Dec 202398 pos · $5.10B
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | BANK NOVA SCOTIA HALIFAX | 064149107 | 3,725,790 | $275.1M | 4.83% |
| 2 | ALPHABET INC | GOOG | 837,666 | $262.9M | 4.61% |
| 3 | TORONTO DOMINION BK ONT | TORO | 2,742,748 | $258.8M | 4.54% |
| 4 | ROGERS COMMUNICATIONS INC | RCIAF | 6,621,447 | $250.3M | 4.39% |
| 5 | ROYAL BK CDA | 780087102 | 1,465,322 | $250.1M | 4.39% |
| 6 | MANULIFE FINL CORP | 56501R106 | 6,151,217 | $223.7M | 3.92% |
| 7 | BANK MONTREAL QUE | 063671101 | 1,674,225 | $217.7M | 3.82% |
| 8 | MAGNA INTL INC | 559222401 | 4,067,800 | $217.1M | 3.81% |
| 9 | SUN LIFE FINANCIAL INC. | SUNFF | 3,208,223 | $200.5M | 3.52% |
| 10 | BARRICK MNG CORP | 06849F108 | 4,587,350 | $200.1M | 3.51% |
| 11 | OPEN TEXT CORP | OTEX | 5,681,093 | $185.3M | 3.25% |
| 12 | NUTRIEN LTD | NTR | 2,910,084 | $179.9M | 3.15% |
| 13 | BCE INC | BCPPF | 7,338,441 | $175.3M | 3.07% |
| 14 | CANADIAN IMPERIAL BANK OF CO | CNDIF | 1,812,262 | $164.5M | 2.89% |
| 15 | META PLATFORMS INC | META | 198,547 | $131.1M | 2.30% |
| 16 | ILLUMINA INC | ILMN | 858,993 | $112.7M | 1.98% |
| 17 | INTEL CORP | INTC | 2,993,420 | $110.5M | 1.94% |
| 18 | AT&T INC | T-PC | 4,130,100 | $102.6M | 1.80% |
| 19 | CENOVUS ENERGY INC | CVE | 5,949,541 | $100.8M | 1.77% |
| 20 | CAE INC | CAE | 3,219,140 | $98.0M | 1.72% |