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LETKO, BROSSEAU & ASSOCIATES INC

Q3 2025 · Filed 2025-11-12
Market Value
$5.8B
+11.7%
Holdings
97
+3
New Purchases
7
Added To
33
Closed
2
Reduced
43
Top 10 Concentration
37.5%
Turnover
9.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
B 2.77% 2.00% +0.77% $161M
GOOG 3.59% 2.95% +0.64% $209M
UPS 0.49% 0.01% +0.48% $28M
OTEX 3.63% 3.16% +0.47% $211M
INTC 1.74% 1.28% +0.46% $101M
BCE 2.83% 2.40% +0.43% $165M
MGA 3.36% 3.00% +0.36% $195M
CVX 0.36% 0.00% +0.36% $21M
LULU 0.59% 0.30% +0.29% $34M
ADBE 1.43% 1.24% +0.19% $83M
CVE 1.75% 1.58% +0.17% $102M
ENRFF 0.92% 0.76% +0.16% $54M
IVZ 0.63% 0.49% +0.15% $37M
BMO 3.98% 3.84% +0.14% $231M
BNS 4.42% 4.29% +0.13% $257M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
HBM 0.92% 1.64% -0.72% $54M
MFC 3.33% 3.83% -0.50% $194M
META 2.51% 2.98% -0.47% $146M
HES 0.00% 0.35% -0.35% $0
NTR 2.94% 3.28% -0.34% $171M
GILD 0.81% 1.14% -0.33% $47M
T 1.99% 2.32% -0.33% $116M
TD 4.17% 4.49% -0.32% $242M
TU 1.79% 2.03% -0.23% $104M
WFG 1.34% 1.57% -0.23% $78M
CAE 1.66% 1.87% -0.21% $96M
SLF 3.30% 3.50% -0.21% $192M
ILMN 1.39% 1.56% -0.17% $81M
C 1.43% 1.59% -0.16% $83M
VZ 1.25% 1.37% -0.12% $73M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 17 $1.1B 19.7%
Large Cap 50 $3.9B 66.9%
Mid Cap 15 $669M 11.5%
Small Cap 9 $50M 0.9%
Micro Cap 6 $59M 1.0%

Portfolio Analytics

Avg Market Cap
$281.0B
Median Market Cap
$28.8B
Avg P/E
21.0
Median P/E
17.4
Avg Dividend Yield
0.02%
Avg Beta
0.95
# Stocks
95
# ETFs / Funds
2

Top Holdings (97 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 BNS 4.42% 3,980,065 $257M $64.68 $34M -72,030 -1.8%
2 TD 4.17% 3,032,023 $242M $79.98 $9M -152,625 -4.8%
3 BMO 3.98% 1,774,869 $231M $130.34 $31M -34,430 -1.9%
4 RCI 3.96% 6,691,022 $230M $34.43 $30M -62,965 -0.9%
5 RY 3.80% 1,501,190 $221M $147.42 $20M -27,345 -1.8%
6 OTEX 3.63% 5,653,268 $211M $37.39 $47M +3,450 +0.1%
7 GOOG 3.59% 857,620 $209M $243.55 $55M -9,305 -1.1%
8 MGA 3.36% 4,124,045 $195M $47.39 $39M +72,615 +1.8%
9 MFC 3.33% 6,214,467 $194M $31.16 -$6M -39,775 -0.6%
10 SLF 3.30% 3,195,004 $192M $60.06 $9M +446,210 +16.2%
11 NTR 2.94% 2,915,069 $171M $58.74 $98K -27,694 -0.9%
12 BCE 2.83% 7,045,751 $165M $23.37 $40M +1,397,817 +24.8%
13 B 2.77% 4,900,075 $161M $32.85 $57M -115,950 -2.3%
14 CM 2.60% 1,891,602 $151M $79.93 $13M -62,000 -3.2%
15 META 2.51% 198,596 $146M $734.38 -$9M -11,655 -5.5%
16 T 1.99% 4,103,475 $116M $28.24 -$5M -67,650 -1.6%
17 TU 1.79% 6,627,062 $104M $15.75 -$1M +31,625 +0.5%
18 PFE 1.77% 4,038,438 $103M $25.48 $6M +52,550 +1.3%
19 CVE 1.75% 6,005,443 $102M $16.98 $20M -51,885 -0.9%
20 INTC 1.74% 3,024,170 $101M $33.55 $35M +42,625 +1.4%
21 CAE 1.66% 3,251,140 $96M $29.62 -$925K -72,625 -2.2%
22 SU 1.49% 2,067,377 $87M $41.86 $9M -17,850 -0.9%
23 CVS 1.45% 1,115,585 $84M $75.39 $7M +3,500 +0.3%
24 C 1.43% 821,495 $83M $101.50 $434K -152,982 -15.7%
25 ADBE 1.43% 236,110 $83M $352.75 $19M +68,855 +41.2%
26 ILMN 1.39% 854,318 $81M $94.97 -$304K +750 +0.1%
27 STT 1.36% 682,126 $79M $116.01 $6M -8,935 -1.3%
28 WFG 1.34% 1,149,169 $78M $68.00 -$4M +30,315 +2.7%
29 TFC 1.31% 1,664,556 $76M $45.72 $4M -7,925 -0.5%
30 VZ 1.25% 1,657,716 $73M $43.95 $1M +7,073 +0.4%
31 GSK 1.24% 1,675,968 $72M $43.16 $9M +14,700 +0.9%
32 EMN 1.23% 1,132,471 $71M $63.05 $8M +281,875 +33.1%
33 CMCSA 1.17% 2,163,246 $68M $31.42 $3M +335,665 +18.4%
34 ABBV 1.16% 290,909 $67M $231.54 $12M -6,075 -2.0%
35 ELP 1.13% 6,696,046 $66M $9.80 $4M -8,400 -0.1%
36 TECK 1.08% 1,438,342 $63M $43.88 $5M -11,761 -0.8%
37 SWKS 1.03% 781,697 $60M $76.98 $3M +12,081 +1.6%
38 WFC 0.98% 681,494 $57M $83.82 $2M -12,660 -1.8%
39 CRUS 0.97% 452,079 $57M $125.29 $10M +3,025 +0.7%
40 SBS 0.96% 2,248,029 $56M $24.89 $6M -5,560 -0.2%
41 ENRFF 0.92% 4,974,436 $54M $10.79 $14M -81,475 -1.6%
42 HBM 0.92% 3,531,808 $54M $15.15 -$32M -4,530,925 -56.2%
43 FDX 0.88% 216,737 $51M $235.81 $4M +7,755 +3.7%
44 BAC 0.87% 985,170 $51M $51.59 $4M -2,092 -0.2%
45 GILD 0.81% 423,520 $47M $111.00 -$12M -110,000 -20.6%
46 SHEL 0.78% 634,977 $45M $71.53 $650K -875 -0.1%
47 WMT 0.70% 396,511 $41M $103.06 $1M -9,610 -2.4%
48 GPK 0.70% 2,074,935 $41M $19.57 $8M +522,175 +33.6%
49 COP 0.69% 425,194 $40M $94.59 $2M -491 -0.1%
50 QSR 0.66% 600,517 $39M $64.17 $7M +127,600 +27.0%
51 IVZ 0.63% 1,601,138 $37M $22.94 $11M -1,300 -0.1%
52 ADNT 0.62% 1,496,836 $36M $24.08 $7M +14,873 +1.0%
53 LULU 0.59% 193,634 $34M $177.93 $19M +127,350 +192.1%
54 MAC 0.57% 1,837,120 $33M $18.20 $6M +166,825 +10.0%
55 CX 0.57% 3,697,525 $33M $8.99 $7M -32,775 -0.9%
56 MRK 0.51% 353,989 $30M $83.93 $2M +6,700 +1.9%
57 UPS 0.49% 340,075 $28M $83.53 $28M +333,925 +5429.7%
58 BAP 0.45% 97,271 $26M $266.28 $4M +325 +0.3%
59 MRNA 0.41% 913,390 $24M $25.83 -$2M -4,800 -0.5%
60 CPA 0.38% 187,753 $22M $118.82 $2M +950 +0.5%
61 CVX 0.36% 133,429 $21M $155.29 +133,429 NEW
62 BIIB 0.29% 120,620 $17M $140.08 $2M +2,965 +2.5%
63 IBN 0.23% 437,752 $13M $30.23 -$2M -29,350 -6.3%
64 CXM 0.23% 1,699,575 $13M $7.72 -$2M -60,925 -3.5%
65 PROF 0.08% 986,250 $5M $4.89 -$2M -218,000 -18.1%
66 HDB 0.08% 130,260 $4M $34.16 -$72K +71,280 +120.8%
67 XBI 0.06% 35,325 $4M $100.20 $361K -3,000 -7.8%
68 SCHW 0.03% 19,746 $2M $95.47 $84K
69 ING 0.02% 49,125 $1M $26.08 $200K -334 -0.7%
70 NVDA 0.02% 6,250 $1M $186.58 +6,250 NEW
71 FLIN 0.01% 22,175 $827K $37.29 -$9K +1,200 +5.7%
72 ORCL 0.01% 2,420 $681K $281.24 $4K -675 -21.8%
73 PBA 0.01% 14,650 $592K $40.44 $110K +1,775 +13.8%
74 ELPC 0.01% 65,756 $589K $8.96 $9K -2,350 -3.5%
75 EMRAF 0.01% 8,485 $407K $47.99 $19K
76 NXPI 0.01% 1,775 $404K $227.73 $16K
77 FTS 0.01% 7,900 $401K $50.73 -$4K -600 -7.1%
78 VALE 0.01% 36,650 $398K $10.86 $42K
79 ERO 0.01% 18,000 $365K $20.26 $120K +3,500 +24.1%
80 MSFT 0.01% 638 $330K $517.95 $13K
81 PVLA 0.01% 5,200 $326K $62.69 +5,200 NEW
82 FCX —% 6,925 $272K $39.22 -$29K
83 GOOGL —% 1,092 $265K $243.10 +1,092 NEW
84 MGTX —% 32,000 $263K $8.23 -$32K -13,300 -29.4%
85 SPRY —% 24,700 $248K $10.05 -$183K
86 MLYS —% 5,475 $208K $37.92 -$16K -11,025 -66.8%
87 ALB —% 2,475 $201K $81.08 +2,475 NEW
88 AURA —% 28,300 $175K $6.18 $42K +7,100 +33.5%
89 TCRX —% 95,875 $174K $1.82 $35K
90 ETNB —% 10,700 $157K $14.70 $52K
91 GOSS —% 39,400 $104K $2.63 +39,400 NEW
92 ALDX —% 17,300 $90K $5.22 $24K
93 HUMA —% 45,950 $80K $1.74 -$16K
94 REPL —% 10,800 $45K $4.19 -$55K
95 PROK —% 15,900 $38K $2.42 +15,900 NEW
96 HES —% -$18M -131,417 -100.0% SOLD
97 SKX —% -$424K -6,725 -100.0% SOLD

New Positions

SymbolValue% Port
CVX $21M 0.36%
NVDA $1M 0.02%
PVLA $326K 0.01%
GOOGL $265K —%
ALB $201K —%
GOSS $104K —%
PROK $38K —%

Sold Out Positions

SymbolValue% Port
HES —%
SKX —%
View SEC EDGAR Filings for LETKO, BROSSEAU & ASSOCIATES INC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms