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LETKO, BROSSEAU & ASSOCIATES INC

Registered adviser
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.

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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
Sep 2023 → Jun 2026 · range 222 – 244
Diversified−1

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026
Sector % Portfolio Value
Financial Services 32.8% $2,217,097,388
Communication Services 16.8% $1,138,338,003
Healthcare 10.4% $706,057,490
Technology 9.5% $642,509,251
Basic Materials 8.8% $596,370,586
Consumer Cyclical 6.8% $458,699,074
Industrials 6.0% $404,103,044
Energy 4.9% $328,810,224
Utilities 2.9% $197,906,921
Real Estate 0.7% $46,379,072
Consumer Defensive 0.3% $22,336,793
Unclassified 0.1% $7,065,611

Last Quarter's Activity

Export CSV
Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased
25 positions
Ticker Δ Shares Shares Value Open

Trimmed

Positions the filer reduced
25 positions
Ticker Δ Shares Shares Value Open

New Positions

Positions the filer opened this quarter
14 positions
Ticker Shares Value Open

Sold Out

Positions the filer fully exited
3 positions
Ticker Shares Value Open

Portfolio Positions

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
Showing 1–50 of 112 positions by value · page 1 of 3
Ticker Company Shares Value (USD) % of Portfolio History

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.