LETKO, BROSSEAU & ASSOCIATES INC

Registered adviser

CIK

1297496

Location

MONTREAL, A8

Portfolio Value

Mid $6,765,673,457

Diversification

Diversified

Filing Date

Global Rank

#708 / 8,817 ▼ 35

Top Industry

Banks - Diversified 21.8%

Period ended 4 months ago

Filed Aug 13, 2026 · 2mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Records disagree; the first in precedence decides.

Form ADV adviser

CRD 133221

Roster of Oct 1, 2026

Regulatory AUM

$18,830,494,275

Main clients

Diversified

Private funds

7 funds · Other private funds

Focus by gross assets, Schedule D of Dec 19, 2024

$1,768,916,053 gross assets

LEI

254900AH32D0TH9OIE68

Private funds on Schedule D 7.B.(1)

As filed Dec 19, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$1,632,747,448 gross assets in 7 funds Other private funds $1,632,747,448 (7)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Jan 2026 to Oct 2026	$18,830,494,275	Diversified
Jan 2025 to Dec 2025	$17,245,181,811	Diversified
Jan 2024 to Dec 2024	$15,357,669,816	Diversified
May 2023 to Dec 2023	$13,931,049,731	Diversified
Jan 2023 to Apr 2023	$13,931,049,731	Diversified
Jan 2022 to Dec 2022	$17,678,743,133	Diversified

4 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Diversified active

Top 10 weight 37.6%, 43.9 effective positions, active share 86.6% against the S&P 500 as of 2026-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Low turnover

19.6% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 21.6 quarters (12+), a floor since 70.1% of the book was already held when coverage starts

Closest benchmark: the S&P 500 as of 2026-06-30, active share 86.6%; sector active share 41.4% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

112 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

4.3%

+0.3 pts

Top 5

20.8%

+1.5 pts

Top 10

37.6%

+1.3 pts

HHI

228

Diversified−1

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Financial Services	32.8%	$2,217,097,388	19
Communication Services	16.8%	$1,138,338,003	8
Healthcare	10.4%	$706,057,490	29
Technology	9.5%	$642,509,251	11
Basic Materials	8.8%	$596,370,586	13
Consumer Cyclical	6.8%	$458,699,074	8
Industrials	6.0%	$404,103,044	7
Energy	4.9%	$328,810,224	7
Utilities	2.9%	$197,906,921	5
Real Estate	0.7%	$46,379,072	1
Consumer Defensive	0.3%	$22,336,793	2
Unclassified	0.1%	$7,065,611	2

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
SBS	Companhia De Saneamento Basico Do Estado De Sao Paulo-Sabesp	+9,765,804	12,114,373	$70,021,075
TU	Telus Corp	+2,779,841	10,220,253	$108,028,074
CMCSA	Comcast Corp	+1,176,005	3,460,961	$84,966,592
OTEX	Open Text Corp	+1,047,075	8,837,628	$195,753,460
GPK	Graphic Packaging Holding Co	+982,745	4,453,305	$47,071,433
CAE	Cae Inc	+859,392	3,981,832	$99,784,709
SWKS	Skyworks Solutions, Inc.	+322,240	1,234,937	$83,728,728
HDB	Hdfc Bank Ltd	+164,725	520,935	$13,455,751
CRM	Salesforce, Inc.	+148,100	504,810	$79,083,534
SW	Smurfit Westrock plc	+108,275	204,184	$9,445,551
LULU	lululemon athletica inc.	+88,225	272,068	$31,064,724
ADBE	Adobe Inc.	+77,405	459,898	$94,288,287
MSFT	Microsoft Corp	+70,343	241,356	$90,030,615
BCE	Bce Inc	+61,732	7,626,060	$164,036,550
T	At&T Inc.	+53,225	4,174,925	$86,420,947
ADNT	Adient plc	+43,666	1,661,072	$30,530,503
PFE	Pfizer Inc	+34,735	4,124,748	$99,323,931
FLIN	Franklin FTSE India ETF	+29,225	61,500	$2,187,555
VZ	Verizon Communications Inc	+24,503	1,726,727	$73,109,621
META	Meta Platforms, Inc.	+22,911	223,556	$125,926,859
SPRY	ARS Pharmaceuticals, Inc.	+15,350	40,050	$320,800
EMN	Eastman Chemical Co	+5,894	1,199,240	$80,325,095
CPA	Copa Holdings, S.A.	+5,175	207,978	$32,355,137
UPS	United Parcel Service Inc	+4,510	366,065	$39,351,987
BAP	Credicorp Ltd	+1,825	98,171	$38,245,458
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
INTC	Intel Corp	−1,834,975	193,495	$27,017,706
EFXT	Enerflex Ltd.	−582,425	1,997,788	$48,965,783
ELPC	Energy Co Of Parana	−578,765	7,333,972	$85,440,773
CVE	Cenovus Energy Inc.	−383,782	5,327,707	$132,180,410
HBM	Hudbay Minerals Inc.	−288,259	808,989	$19,100,230
SU	Suncor Energy Inc	−260,762	8,400	$450,912
CX	Cemex Sab De CV	−250,825	3,593,425	$43,121,100
MGA	Magna International Inc	−219,987	3,728,461	$244,810,749
TECK	Teck Resources Ltd	−208,033	874,729	$52,011,386
B	Barrick Mining Corp	−181,548	3,703,017	$136,011,814
BMO	Bank Of Montreal	−153,255	1,426,775	$252,111,142
BNS	Bank Of Nova Scotia	−130,292	3,380,374	$293,551,678
TD	Toronto Dominion Bank	−122,383	2,393,682	$290,664,805
SLF	Sun Life Financial Inc	−119,981	3,144,427	$246,585,965
NTR	Nutrien Ltd.	−95,761	2,661,149	$167,519,329
MFC	Manulife Financial Corp	−92,595	5,945,857	$240,866,667
RCI	Rogers Communications Inc	−91,890	6,419,707	$208,640,477
CM	Canadian Imperial Bank Of Commerce	−90,063	1,475,569	$169,690,435
CXM	Sprinklr, Inc.	−84,600	1,161,675	$5,994,243
RY	Royal Bank Of Canada	−66,933	1,356,164	$280,685,263
MAC	Macerich Co	−40,575	1,841,170	$46,379,072
QSR	Restaurant Brands International Inc.	−26,346	643,271	$46,643,580
TTE	TotalEnergies SE	−24,485	1,056,594	$82,160,749
MRNA	Moderna, Inc.	−23,985	724,830	$50,759,844
CNI	Canadian National Railway Co	−23,931	1,027,674	$122,539,847
No positions match the current search.

New Positions

Positions the filer opened this quarter

14 positions

Ticker	Company	Shares	Value
GEHC	GE HealthCare Technologies Inc.	878,575	$56,237,585
GIL	Gildan Activewear Inc.	947,100	$48,870,360
EXC	Exelon Corp	891,100	$41,543,082
ACM	Aecom	390,075	$27,227,235
FDXF	FedEx Freight Holding Company, Inc.	101,572	$15,337,372
GHRS	GH Research PLC	15,425	$414,624
SNDX	Syndax Pharmaceuticals Inc	12,450	$272,157
AMZN	Amazon Com Inc	1,100	$262,174
CADL	Candel Therapeutics, Inc.	25,050	$258,015
LQDA	Liquidia Corp	2,900	$231,217
AAPL	Apple Inc.	750	$217,020
MA	Mastercard Inc	400	$205,440
DNLI	Denali Therapeutics Inc.	7,850	$201,902
IAG	Iamgold Corp	12,500	$198,000
No positions match the current search.

Sold Out

Positions the filer fully exited

3 positions

Ticker	Company	Shares	Value
GOOGL	Alphabet Inc.	1,092	$314,015
REPL	Replimune Group, Inc.	10,800	$82,620
GOSS	Gossamer Bio, Inc.	39,400	$12,962
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

112 tracked positions · $6,765,673,457 total · filing declares 112 positions · $6,766,417,904 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 112 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
BNS	Bank Of Nova Scotia Financial Services	Reduced	3,380,374	-130,292	$293,551,678	+20.6%	26+	before history	4.34%
TD	Toronto Dominion Bank Financial Services	Reduced	2,393,682	-122,383	$290,664,805	+23.8%	26+	before history	4.30%
GOOG	Alphabet Inc. Communication Services	Reduced	812,863	-20,235	$287,208,883	+20.2%	26+	before history	4.25%
RY	Royal Bank Of Canada Financial Services	Reduced	1,356,164	-66,933	$280,685,263	+21.9%	26+	before history	4.15%
BMO	Bank Of Montreal Financial Services	Reduced	1,426,775	-153,255	$252,111,142	+17.9%	26+	before history	3.73%
SLF	Sun Life Financial Inc Financial Services	Reduced	3,144,427	-119,981	$246,585,965	+20.7%	26+	before history	3.64%
MGA	Magna International Inc Consumer Cyclical	Reduced	3,728,461	-219,987	$244,810,749	+11.1%	26+	before history	3.62%
MFC	Manulife Financial Corp Financial Services	Reduced	5,945,857	-92,595	$240,866,667	+15.8%	26+	before history	3.56%
RCI	Rogers Communications Inc Communication Services	Reduced	6,419,707	-91,890	$208,640,477	−16.7%	26+	before history	3.08%
OTEX	Open Text Corp Technology	Added	8,837,628	+1,047,075	$195,753,460	+13.0%	25	$31.92	2.89%
CM	Canadian Imperial Bank Of Commerce Financial Services	Reduced	1,475,569	-90,063	$169,690,435	+14.4%	26+	before history	2.51%
NTR	Nutrien Ltd. Basic Materials	Reduced	2,661,149	-95,761	$167,519,329	−19.5%	26+	before history	2.48%
BCE	Bce Inc Communication Services	Added	7,626,060	+61,732	$164,036,550	−14.1%	26+	before history	2.42%
ILMN	Illumina, Inc. Healthcare	Reduced	830,293	-22,610	$145,990,418	+38.9%	8	$120.06	2.16%
B	Barrick Mining Corp Basic Materials	Reduced	3,703,017	-181,548	$136,011,814	−14.2%	5	$19.55	2.01%
CVE	Cenovus Energy Inc. Energy	Reduced	5,327,707	-383,782	$132,180,410	−12.8%	26+	before history	1.95%
META	Meta Platforms, Inc. Communication Services	Added	223,556	+22,911	$125,926,859	+9.7%	26+	before history	1.86%
CNI	Canadian National Railway Co Industrials	Reduced	1,027,674	-23,931	$122,539,847	+13.4%	3	$97.99	1.81%
CVS	CVS HEALTH Corp Healthcare	Reduced	1,095,265	-19,470	$113,305,164	+41.5%	23	$67.13	1.67%
TU	Telus Corp Communication Services	Added	10,220,253	+2,779,841	$108,028,074	+13.2%	26+	before history	1.60%
CAE	Cae Inc Industrials	Added	3,981,832	+859,392	$99,784,709	+22.7%	26+	before history	1.47%
PFE	Pfizer Inc Healthcare	Added	4,124,748	+34,735	$99,323,931	−13.5%	26+	before history	1.47%
WFG	West Fraser Timber Co., Ltd Basic Materials	Added	1,417,956	+755	$95,981,441	+3.7%	22	$66.62	1.42%
ADBE	Adobe Inc. Technology	Added	459,898	+77,405	$94,288,287	+1.4%	6	$334.38	1.39%
MSFT	Microsoft Corp Technology	Added	241,356	+70,343	$90,030,615	+42.2%	13	$414.13	1.33%
STT	State Street Corp Financial Services	Reduced	525,646	-18,810	$89,149,561	+29.4%	26+	before history	1.32%
T	At&T Inc. Communication Services	Added	4,174,925	+53,225	$86,420,947	−27.7%	26+	before history	1.28%
ELPC	Energy Co Of Parana Utilities	Reduced	7,333,972	-578,765	$85,440,773	−9.6%	10	$9.61	1.26%
C	Citigroup Inc Financial Services	Reduced	609,048	-22,442	$85,242,358	+19.0%	26+	before history	1.26%
GSK	GSK plc Healthcare	Reduced	1,624,668	-19,945	$85,165,096	−6.2%	16	unpriced	1.26%
CMCSA	Comcast Corp Communication Services	Added	3,460,961	+1,176,005	$84,966,592	+29.5%	26+	before history	1.26%
SWKS	Skyworks Solutions, Inc. Technology	Added	1,234,937	+322,240	$83,728,728	+71.3%	26+	before history	1.24%
TTE	TotalEnergies SE Energy	Reduced	1,056,594	-24,485	$82,160,749	−16.5%	3	$63.23	1.21%
EMN	Eastman Chemical Co Basic Materials	Added	1,199,240	+5,894	$80,325,095	−11.8%	26+	before history	1.19%
CRM	Salesforce, Inc. Technology	Added	504,810	+148,100	$79,083,534	+18.8%	3	$198.27	1.17%
TFC	Truist Financial Corp Financial Services	Reduced	1,551,961	-15,835	$77,318,697	+7.3%	26+	before history	1.14%
VZ	Verizon Communications Inc Communication Services	Added	1,726,727	+24,503	$73,109,621	−14.4%	26+	before history	1.08%
SBS	Companhia De Saneamento Basico Do Estado De Sao Paulo-Sabesp Utilities	Added	12,114,373	+9,765,804	$70,021,075	−2.3%	26+	before history	1.03%
ABBV	AbbVie Inc. Healthcare	Reduced	270,009	-5,140	$67,945,064	+13.5%	26+	before history	1.00%
FDX	Fedex Corp Industrials	Reduced	215,587	-1,925	$67,506,757	−12.9%	15	unpriced	1.00%
CRUS	Cirrus Logic, Inc. Technology	Reduced	442,259	-7,245	$65,688,729	+1.0%	26+	before history	0.97%
GEHC	GE HealthCare Technologies Inc. Healthcare	NEW	878,575	NEW	$56,237,585	NEW	1	$65.73	0.83%
BAC	Bank Of America Corp Financial Services	Reduced	967,290	-8,150	$55,116,184	+15.9%	26+	before history	0.81%
TECK	Teck Resources Ltd Basic Materials	Reduced	874,729	-208,033	$52,011,386	−7.2%	26+	before history	0.77%
MRNA	Moderna, Inc. Healthcare	Reduced	724,830	-23,985	$50,759,844	+33.4%	11	$67.86	0.75%
EFXT	Enerflex Ltd. Energy	Reduced	1,997,788	-582,425	$48,965,783	−9.3%	15	$5.71	0.72%
GIL	Gildan Activewear Inc. Consumer Cyclical	NEW	947,100	NEW	$48,870,360	NEW	1	$57.41	0.72%
GPK	Graphic Packaging Holding Co Consumer Cyclical	Added	4,453,305	+982,745	$47,071,433	+36.4%	17	$17.72	0.70%
WFC	Wells Fargo & Company Financial Services	Reduced	569,169	-4,650	$47,036,126	+3.0%	26+	before history	0.70%
QSR	Restaurant Brands International Inc. Consumer Cyclical	Reduced	643,271	-26,346	$46,643,580	−5.7%	22	$62.81	0.69%

Showing the top 50 of 112 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.