LETKO, BROSSEAU & ASSOCIATES INC
Filing Date
Global Rank
#590
/ 8,621
▲ 27
· as of Mar 2026
Top Industry
Banks - Diversified
21.0%
3Y Alpha vs SPY
-0.3%
Period ended 4 months ago
Filed May 12, 2026 · 3mo
25 quarters · since Mar 2020
Clone Performance
Jul 2023–Jul 2026 · vs SPYHypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.
Cloned portfolio
+69.0%
SPY
+67.5%
Annualised alpha
+0.4%
Max drawdown
−17.1%
Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.
Portfolio Concentration
98 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
4.2%
−0.5 pts
Top 5
20.0%
−1.7 pts
Top 10
37.4%
−2.0 pts
HHI
235
Diversified−15
Portfolio Trend
25 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Financial Services | 31.6% | $1,865,251,694 |
| Communication Services | 15.6% | $922,404,878 |
| Basic Materials | 11.5% | $675,298,726 |
| Technology | 10.3% | $607,563,778 |
| Healthcare | 9.6% | $568,500,405 |
| Energy | 6.9% | $405,626,212 |
| Consumer Cyclical | 6.3% | $369,001,055 |
| Industrials | 5.3% | $310,451,462 |
| Utilities | 1.9% | $109,689,904 |
| Real Estate | 0.6% | $35,564,980 |
| Consumer Defensive | 0.4% | $25,000,755 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| OTEX | Open Text Corp | +2,109,460 | 7,790,553 | $173,261,898 | |
| TU | Telus Corp | +665,025 | 7,440,412 | $95,460,485 | |
| ELPC | Energy Co Of Parana | +636,335 | 7,912,737 | $94,478,079 | |
| CRM | Salesforce, Inc. | +353,310 | 356,710 | $66,587,055 | |
| CNI | Canadian National Railway Co | +278,265 | 1,051,605 | $108,073,445 | |
| WFG | West Fraser Timber Co., Ltd | +245,853 | 1,417,201 | $92,529,053 | |
| SWKS | Skyworks Solutions, Inc. | +241,265 | 912,697 | $48,874,924 | |
| BCE | Bce Inc | +225,887 | 7,564,328 | $190,923,638 | |
| PFE | Pfizer Inc | +211,575 | 4,090,013 | $114,847,565 | |
| HDB | Hdfc Bank Ltd | +179,175 | 356,210 | $8,862,504 | |
| MSFT | Microsoft Corp | +170,374 | 171,013 | $63,303,882 | |
| ADBE | Adobe Inc. | +155,797 | 382,493 | $92,976,398 | |
| SBS | Companhia De Saneamento Basico Do Estado De Sao Paulo-Sabesp | +131,715 | 2,348,569 | $14,330,968 | |
| QSR | Restaurant Brands International Inc. | +65,425 | 669,617 | $49,484,696 | |
| SLF | Sun Life Financial Inc | +56,185 | 3,264,408 | $204,221,364 | |
| ADNT | Adient plc | +41,021 | 1,617,406 | $32,687,775 | |
| MRNA | Moderna, Inc. | +22,375 | 748,815 | $38,039,802 | |
| BIIB | Biogen Inc. | +21,085 | 150,865 | $27,658,080 | |
| CX | Cemex Sab De CV | +20,750 | 3,844,250 | $43,978,220 | |
| CMCSA | Comcast Corp | +19,735 | 2,284,956 | $65,601,086 | |
| GPK | Graphic Packaging Holding Co | +19,050 | 3,470,560 | $34,497,366 | |
| CPA | Copa Holdings, S.A. | +7,600 | 202,803 | $23,040,448 | |
| LULU | lululemon athletica inc. | +7,205 | 183,843 | $28,146,363 | |
| MAC | Macerich Co | +5,475 | 1,881,745 | $35,564,980 | |
| UPS | United Parcel Service Inc | +3,380 | 361,555 | $35,569,780 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| SU | Suncor Energy Inc | −1,392,090 | 269,162 | $17,794,299 | |
| INTC | Intel Corp | −964,950 | 2,028,470 | $89,516,381 | |
| B | Barrick Mining Corp | −702,785 | 3,884,565 | $158,451,406 | |
| HBM | Hudbay Minerals Inc. | −472,335 | 1,097,248 | $22,932,483 | |
| IVZ | Invesco Ltd. | −377,200 | 1,198,263 | $29,105,808 | |
| IBN | Icici Bank Ltd | −305,225 | 122,627 | $3,176,039 | |
| CM | Canadian Imperial Bank Of Commerce /Can/ | −246,630 | 1,565,632 | $148,343,632 | |
| CVE | Cenovus Energy Inc. | −238,052 | 5,711,489 | $151,525,803 | |
| EFXT | Enerflex Ltd. | −235,475 | 2,580,213 | $53,978,055 | |
| TD | Toronto Dominion Bank | −226,683 | 2,516,065 | $234,774,025 | |
| BNS | Bank Of Nova Scotia | −215,124 | 3,510,666 | $243,324,260 | |
| CXM | Sprinklr, Inc. | −188,800 | 1,246,275 | $7,477,650 | |
| C | Citigroup Inc | −178,970 | 631,490 | $71,617,280 | |
| NTR | Nutrien Ltd. | −153,174 | 2,756,910 | $208,036,428 | |
| TECK | Teck Resources Ltd | −133,830 | 1,082,762 | $56,032,933 | |
| TFC | Truist Financial Corp | −128,960 | 1,567,796 | $72,071,582 | |
| STT | State Street Corp | −123,770 | 544,456 | $68,906,351 | |
| MGA | Magna International Inc | −119,352 | 3,948,448 | $220,362,882 | |
| MFC | Manulife Financial Corp | −112,765 | 6,038,452 | $207,964,286 | |
| RCI | Rogers Communications Inc | −109,850 | 6,511,597 | $250,370,904 | |
| CAE | Cae Inc | −96,700 | 3,122,440 | $81,339,562 | |
| BMO | Bank Of Montreal /Can/ | −94,195 | 1,580,030 | $213,841,260 | |
| RY | Royal Bank Of Canada | −42,225 | 1,423,097 | $230,228,632 | |
| GSK | GSK plc | −30,250 | 1,644,613 | $90,766,191 | |
| TTE | TotalEnergies SE | −25,325 | 1,081,079 | $98,356,567 | |
| No positions match the current search. | |||||
Sold Out
Positions the filer fully exited
1 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| SHEL | Shell plc | 9,085 | $667,565 | |
| No positions match the current search. | ||||
98 positions ·
$5,894,353,849 total
· as of Mar 31, 2026
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
Showing 1–50
of 98 positions by value
· page 1 of 2
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| RCI |
Rogers Communications Inc
Communication Services
|
Reduced | 6,511,597 | $250,370,904 | 4.25% | |
| BNS |
Bank Of Nova Scotia
Financial Services
|
Reduced | 3,510,666 | $243,324,260 | 4.13% | |
| TD |
Toronto Dominion Bank
Financial Services
|
Reduced | 2,516,065 | $234,774,025 | 3.98% | |
| RY |
Royal Bank Of Canada
Financial Services
|
Reduced | 1,423,097 | $230,228,632 | 3.91% | |
| MGA |
Magna International Inc
Consumer Cyclical
|
Reduced | 3,948,448 | $220,362,882 | 3.74% | |
| BMO |
Bank Of Montreal /Can/
Financial Services
|
Reduced | 1,580,030 | $213,841,260 | 3.63% | |
| NTR |
Nutrien Ltd.
Basic Materials
|
Reduced | 2,756,910 | $208,036,428 | 3.53% | |
| MFC |
Manulife Financial Corp
Financial Services
|
Reduced | 6,038,452 | $207,964,286 | 3.53% | |
| SLF |
Sun Life Financial Inc
Financial Services
|
Added | 3,264,408 | $204,221,364 | 3.46% | |
| BCE |
Bce Inc
Communication Services
|
Added | 7,564,328 | $190,923,638 | 3.24% | |
| OTEX |
Open Text Corp
Technology
|
Added | 7,790,553 | $173,261,898 | 2.94% | |
| B |
Barrick Mining Corp
Basic Materials
|
Reduced | 3,884,565 | $158,451,406 | 2.69% | |
| CVE |
Cenovus Energy Inc.
Energy
|
Reduced | 5,711,489 | $151,525,803 | 2.57% | |
| CM |
Canadian Imperial Bank Of Commerce /Can/
Financial Services
|
Reduced | 1,565,632 | $148,343,632 | 2.52% | |
| T |
At&T Inc.
Communication Services
|
Reduced | 4,121,700 | $119,488,083 | 2.03% | |
| PFE |
Pfizer Inc
Healthcare
|
Added | 4,090,013 | $114,847,565 | 1.95% | |
| META |
Meta Platforms, Inc.
Communication Services
|
Added | 200,645 | $114,795,023 | 1.95% | |
| CNI |
Canadian National Railway Co
Industrials
|
Added | 1,051,605 | $108,073,445 | 1.83% | |
| ILMN |
Illumina, Inc.
Healthcare
|
Reduced | 852,903 | $105,128,823 | 1.78% | |
| TTE |
TotalEnergies SE
Energy
|
Reduced | 1,081,079 | $98,356,567 | 1.67% | |
| TU |
Telus Corp
Communication Services
|
Added | 7,440,412 | $95,460,485 | 1.62% | |
| ELPC |
Energy Co Of Parana
Utilities
|
Added | 7,912,737 | $94,478,079 | 1.60% | |
| ADBE |
Adobe Inc.
Technology
|
Added | 382,493 | $92,976,398 | 1.58% | |
| WFG |
West Fraser Timber Co., Ltd
Basic Materials
|
Added | 1,417,201 | $92,529,053 | 1.57% | |
| EMN |
Eastman Chemical Co
Basic Materials
|
Reduced | 1,193,346 | $91,076,166 | 1.55% | |
| GSK |
GSK plc
Healthcare
|
Reduced | 1,644,613 | $90,766,191 | 1.54% | |
| INTC |
Intel Corp
Technology
|
Reduced | 2,028,470 | $89,516,381 | 1.52% | |
| VZ |
Verizon Communications Inc
Communication Services
|
Reduced | 1,702,224 | $85,451,644 | 1.45% | |
| CAE |
Cae Inc
Industrials
|
Reduced | 3,122,440 | $81,339,562 | 1.38% | |
| CVS |
CVS HEALTH Corp
Healthcare
|
Added | 1,114,735 | $80,060,267 | 1.36% | |
| TFC |
Truist Financial Corp
Financial Services
|
Reduced | 1,567,796 | $72,071,582 | 1.22% | |
| C |
Citigroup Inc
Financial Services
|
Reduced | 631,490 | $71,617,280 | 1.22% | |
| STT |
State Street Corp
Financial Services
|
Reduced | 544,456 | $68,906,351 | 1.17% | |
| CRM |
Salesforce, Inc.
Technology
|
Added | 356,710 | $66,587,055 | 1.13% | |
| CMCSA |
Comcast Corp
Communication Services
|
Added | 2,284,956 | $65,601,086 | 1.11% | |
| CRUS |
Cirrus Logic, Inc.
Technology
|
Reduced | 449,504 | $65,007,268 | 1.10% | |
| MSFT |
Microsoft Corp
Technology
|
Added | 171,013 | $63,303,882 | 1.07% | |
| FDX |
Fedex Corp
Industrials
|
Reduced | 217,512 | $62,428,227 | 1.06% | |
| ABBV |
AbbVie Inc.
Healthcare
|
Reduced | 275,149 | $59,842,156 | 1.02% | |
| TECK |
Teck Resources Ltd
Basic Materials
|
Reduced | 1,082,762 | $56,032,933 | 0.95% | |
| COP |
Conocophillips
Energy
|
Reduced | 420,604 | $55,519,728 | 0.94% | |
| EFXT |
Enerflex Ltd.
Energy
|
Reduced | 2,580,213 | $53,978,055 | 0.92% | |
| QSR |
Restaurant Brands International Inc.
Consumer Cyclical
|
Added | 669,617 | $49,484,696 | 0.84% | |
| SWKS |
Skyworks Solutions, Inc.
Technology
|
Added | 912,697 | $48,874,924 | 0.83% | |
| BAC |
Bank Of America Corp /De/
Financial Services
|
Reduced | 975,440 | $47,552,700 | 0.81% | |
| WFC |
Wells Fargo & Company/Mn
Financial Services
|
Reduced | 573,819 | $45,681,730 | 0.78% | |
| CX |
Cemex Sab De CV
Basic Materials
|
Added | 3,844,250 | $43,978,220 | 0.75% | |
| MRK |
Merck & Co., Inc.
Healthcare
|
Reduced | 358,019 | $43,066,105 | 0.73% | |
| MRNA |
Moderna, Inc.
Healthcare
|
Added | 748,815 | $38,039,802 | 0.65% | |
| UPS |
United Parcel Service Inc
Industrials
|
Added | 361,555 | $35,569,780 | 0.60% |