LETKO, BROSSEAU & ASSOCIATES INC

hedge fundUpdated 28 days ago

Managed by Letko, Brosseau & Associates Inc • Latest filing Q2 2026

Portfolio value

$6.8B

Q2 2026

Filings

14

Quarterly 13F history

Top-10 concentration

37.6%

Weight of largest holdings

Annualized return

7.5%

Implied from 13F holdings

Portfolio value history

13F-disclosed portfolio value over 15 quarters

Show data table

Period	Portfolio value
Q4 2022	$5.6B
Q1 2023	$5.3B
Q2 2023	$5.4B
Q3 2023	$5.1B
Q4 2023	$5.5B
Q1 2024	$5.8B
Q2 2024	$5.3B
Q3 2024	$5.5B
Q4 2024	$5.2B
Q1 2025	$4.7B
Q2 2025	$5.2B
Q3 2025	$5.8B
Q4 2025	$6.1B
Q1 2026	$6.2B
Q2 2026	$6.8B

Top holdings

112 positions as of Q2 2026

#	Stock	Value	Shares	% Portfolio	Change
1	B BNS BANK NOVA SCOTIA B C	$293.7M	3.38M	4.34%	Trimmed(-3.7%)
2	T TDBCP TORONTO DOMINION BK ONT	$290.9M	2.39M	4.30%	Trimmed(-4.9%)
3	G GOOGN ALPHABET INC	$287.2M	812.9K	4.24%	Trimmed(-2.4%)
4	R RYLBF ROYAL BK CDA	$280.7M	1.36M	4.15%	Trimmed(-4.7%)
5	O OILD BANK MONTREAL MEDIUM	$252.1M	1.43M	3.73%	Trimmed(-9.7%)
6	S SUNFF SUN LIFE FINANCIAL INC.	$246.8M	3.14M	3.65%	Trimmed(-3.7%)
7	M MGA MAGNA INTL INC	$245.1M	3.73M	3.62%	Trimmed(-5.6%)
8	M MNUFF MANULIFE FINL CORP	$241.1M	5.95M	3.56%	Trimmed(-1.5%)
9	R RCIAF ROGERS COMMUNICATIONS INC	$208.8M	6.42M	3.09%	Trimmed(-1.4%)
10	O OTEX OPEN TEXT CORP	$195.5M	8.84M	2.89%	Added(+13.4%)
11	C CNDIF CANADIAN IMPERIAL BANK OF CO	$169.9M	1.48M	2.51%	Trimmed(-5.8%)
12	N NTR NUTRIEN LTD	$167.6M	2.66M	2.48%	Trimmed(-3.5%)
13	B BCPPF BCE INC	$164.2M	7.63M	2.43%	Added(+0.8%)
14	I ILMN ILLUMINA INC	$146M	830.3K	2.16%	Trimmed(-2.6%)
15	B B BARRICK MNG CORP	$136.1M	3.70M	2.01%	Trimmed(-4.7%)
16	C CVE CENOVUS ENERGY INC	$132.1M	5.33M	1.95%	Trimmed(-6.7%)
17	M META META PLATFORMS INC	$125.9M	223.6K	1.86%	Added(+11.4%)
18	C CNI CANADIAN NATL RY CO	$122.6M	1.03M	1.81%	Trimmed(-2.3%)
19	C CVS CVS HEALTH CORP	$113.3M	1.10M	1.67%	Trimmed(-1.8%)
20	T TU TELUS CORPORATION	$108.1M	10.22M	1.60%	Added(+37.4%)

B

BANK NOVA SCOTIA B C

-3.7%

Value

$293.7M

Shares

3.38M

% Port

4.34%

T

TORONTO DOMINION BK ONT

-4.9%

Value

$290.9M

Shares

2.39M

% Port

4.30%

G

ALPHABET INC

-2.4%

Value

$287.2M

Shares

812.9K

% Port

4.24%

R

ROYAL BK CDA

-4.7%

Value

$280.7M

Shares

1.36M

% Port

4.15%

O

BANK MONTREAL MEDIUM

-9.7%

Value

$252.1M

Shares

1.43M

% Port

3.73%

S

SUN LIFE FINANCIAL INC.

-3.7%

Value

$246.8M

Shares

3.14M

% Port

3.65%

M

MAGNA INTL INC

-5.6%

Value

$245.1M

Shares

3.73M

% Port

3.62%

M

MANULIFE FINL CORP

-1.5%

Value

$241.1M

Shares

5.95M

% Port

3.56%

R

ROGERS COMMUNICATIONS INC

-1.4%

Value

$208.8M

Shares

6.42M

% Port

3.09%

O

OPEN TEXT CORP

+13.4%

Value

$195.5M

Shares

8.84M

% Port

2.89%

C

CANADIAN IMPERIAL BANK OF CO

-5.8%

Value

$169.9M

Shares

1.48M

% Port

2.51%

N

12.NTR

NUTRIEN LTD

-3.5%

Value

$167.6M

Shares

2.66M

% Port

2.48%

B

BCE INC

+0.8%

Value

$164.2M

Shares

7.63M

% Port

2.43%

I

ILLUMINA INC

-2.6%

Value

$146M

Shares

830.3K

% Port

2.16%

B

15.B

BARRICK MNG CORP

-4.7%

Value

$136.1M

Shares

3.70M

% Port

2.01%

C

16.CVE

CENOVUS ENERGY INC

-6.7%

Value

$132.1M

Shares

5.33M

% Port

1.95%

M

META PLATFORMS INC

+11.4%

Value

$125.9M

Shares

223.6K

% Port

1.86%

C

18.CNI

CANADIAN NATL RY CO

-2.3%

Value

$122.6M

Shares

1.03M

% Port

1.81%

C

19.CVS

CVS HEALTH CORP

-1.8%

Value

$113.3M

Shares

1.10M

% Port

1.67%

T

20.TU

TELUS CORPORATION

+37.4%

Value

$108.1M

Shares

10.22M

% Port

1.60%

View full portfolio (112 holdings) →

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