Q4 2025 · 13F-HR
LETKO, BROSSEAU & ASSOCIATES INCholdings as filed
Filed 2026-02-11 · accession 0001297496-26-000003
$6.11B
Reported value
100
Positions
2025-12-31
Period end
The Brief · LETKO, BROSSEAU & ASSOCIATES INC · Q4 2025
AI · grounded in 13F
LETKO, BROSSEAU & ASSOCIATES INC established a new position in CNI worth $76.6M. The fund also opened a new stake in TTE for $72.2M and increased its holding in ELPC by 10,965.8%. Conversely, the fund closed its positions in ELP1 and GILD, reducing its exposure by $65.6M and $47M respectively.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 064149107 | BNS | BANK NOVA SCOTIA HALIFAX | $275.1M | 4.51% | 3,725,790 | Common | SOLE |
| 02079K107 | GOOG | ALPHABET INC | $262.9M | 4.30% | 837,666 | Common | SOLE |
| 891160509 | TD | TORONTO DOMINION BK ONT | $258.8M | 4.24% | 2,742,748 | Common | SOLE |
| 775109200 | RCI | ROGERS COMMUNICATIONS INC | $250.3M | 4.10% | 6,621,447 | Common | SOLE |
| 780087102 | RY | ROYAL BK CDA | $250.1M | 4.10% | 1,465,322 | Common | SOLE |
| 56501R106 | MFC | MANULIFE FINL CORP | $223.7M | 3.66% | 6,151,217 | Common | SOLE |
| 063671101 | BMO | BANK MONTREAL QUE | $217.7M | 3.56% | 1,674,225 | Common | SOLE |
| 559222401 | MGA | MAGNA INTL INC | $217.1M | 3.56% | 4,067,800 | Common | SOLE |
| 866796105 | SLF | SUN LIFE FINANCIAL INC. | $200.5M | 3.28% | 3,208,223 | Common | SOLE |
| 06849F108 | B | BARRICK MNG CORP | $200.1M | 3.28% | 4,587,350 | Common | SOLE |
| 683715106 | OTEX | OPEN TEXT CORP | $185.3M | 3.03% | 5,681,093 | Common | SOLE |
| 67077M108 | NTR | NUTRIEN LTD | $179.9M | 2.94% | 2,910,084 | Common | SOLE |
| 05534B760 | BCE | BCE INC | $175.3M | 2.87% | 7,338,441 | Common | SOLE |
| 136069101 | CM | CANADIAN IMPERIAL BANK OF CO | $164.5M | 2.69% | 1,812,262 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $131.1M | 2.15% | 198,547 | Common | SOLE |
| 452327109 | ILMN | ILLUMINA INC | $112.7M | 1.84% | 858,993 | Common | SOLE |
| 458140100 | INTC | INTEL CORP | $110.5M | 1.81% | 2,993,420 | Common | SOLE |
| 00206R102 | T | AT&T INC | $102.6M | 1.68% | 4,130,100 | Common | SOLE |
| 15135U109 | CVE | CENOVUS ENERGY INC | $100.8M | 1.65% | 5,949,541 | Common | SOLE |
| 124765108 | CAE | CAE INC | $98.0M | 1.60% | 3,219,140 | Common | SOLE |
| 717081103 | PFE | PFIZER INC | $96.6M | 1.58% | 3,878,438 | Common | SOLE |
| 172967424 | C | CITIGROUP INC | $94.6M | 1.55% | 810,460 | Common | SOLE |
| 87971M103 | TU | TELUS CORPORATION | $89.4M | 1.46% | 6,775,387 | Common | SOLE |
| 126650100 | CVS | CVS HEALTH CORP | $88.2M | 1.44% | 1,111,860 | Common | SOLE |
| 857477103 | STT | STATE STR CORP | $86.2M | 1.41% | 668,226 | Common | SOLE |
| 89832Q109 | TFC | TRUIST FINL CORP | $83.5M | 1.37% | 1,696,756 | Common | SOLE |
| 37733W204 | GSK | GSK PLC | $82.1M | 1.34% | 1,674,863 | Common | SOLE |
| 00724F101 | ADBE | ADOBE INC | $79.3M | 1.30% | 226,696 | Common | SOLE |
| 136375102 | CNI | CANADIAN NATL RY CO | $76.6M | 1.25% | 773,340 | Common | SOLE |
| 277432100 | EMN | EASTMAN CHEM CO | $76.2M | 1.25% | 1,194,421 | Common | SOLE |
| 867224107 | SU | SUNCOR ENERGY INC NEW | $73.8M | 1.21% | 1,661,252 | Common | SOLE |
| F92124100 | TTE | TOTALENERGIES SE | $72.2M | 1.18% | 1,106,404 | Common | SOLE |
| 952845105 | WFG | WEST FRASER TIMBER CO LTD | $71.8M | 1.17% | 1,171,348 | Common | SOLE |
| 92343V104 | VZ | VERIZON COMMUNICATIONS INC | $69.8M | 1.14% | 1,712,944 | Common | SOLE |
| 20441B704 | ELPC | COMPANHIA PARANAENSE DE ENER | $69.2M | 1.13% | 7,276,402 | Common | SOLE |
| 20030N101 | CMCSA | COMCAST CORP NEW | $67.7M | 1.11% | 2,265,221 | Common | SOLE |
| 00287Y109 | ABBV | ABBVIE INC | $65.1M | 1.07% | 285,104 | Common | SOLE |
| 31428X106 | FDX | FEDEX CORP | $64.6M | 1.06% | 223,597 | Common | SOLE |
| 878742204 | TECK | TECK RESOURCES LTD | $58.3M | 0.95% | 1,216,592 | Common | SOLE |
| 060505104 | BAC | BANK AMERICA CORP | $53.9M | 0.88% | 979,815 | Common | SOLE |
| 949746101 | WMT2 | WELLS FARGO CO NEW | $53.8M | 0.88% | 577,544 | Common | SOLE |
| 172755100 | CRUS | CIRRUS LOGIC INC | $53.4M | 0.87% | 450,284 | Common | SOLE |
| 20441A102 | SBS | COMPANHIA DE SANEAMENTO BASI | $52.9M | 0.87% | 2,216,854 | Common | SOLE |
| 388689101 | GPK | GRAPHIC PACKAGING HLDG CO | $52.0M | 0.85% | 3,451,510 | Common | SOLE |
| 151290889 | CX | CEMEX SAB DE CV | $43.9M | 0.72% | 3,823,500 | Common | SOLE |
| 29269R105 | EFXT | ENERFLEX LTD | $43.5M | 0.71% | 2,815,688 | Common | SOLE |
| 83088M102 | SWKS | SKYWORKS SOLUTIONS INC | $42.6M | 0.70% | 671,432 | Common | SOLE |
| G491BT108 | IVZ | INVESCO LTD | $41.4M | 0.68% | 1,575,463 | Common | SOLE |
| 76131D103 | QSR | RESTAURANT BRANDS INTL INC | $41.3M | 0.68% | 604,192 | Common | SOLE |
| 20825C104 | COP | CONOCOPHILLIPS | $40.3M | 0.66% | 430,664 | Common | SOLE |
| 58933Y105 | MRK | MERCK & CO INC | $39.0M | 0.64% | 370,534 | Common | SOLE |
| 550021109 | LULU | LULULEMON ATHLETICA INC | $36.7M | 0.60% | 176,638 | Common | SOLE |
| 911312106 | UPS | UNITED PARCEL SERVICE INC | $35.5M | 0.58% | 358,175 | Common | SOLE |
| 554382101 | MAC | MACERICH CO | $34.6M | 0.57% | 1,876,270 | Common | SOLE |
| 443628102 | HBM | HUDBAY MINERALS INC | $31.2M | 0.51% | 1,569,583 | Common | SOLE |
| G0084W101 | ADNT | ADIENT PLC | $30.2M | 0.49% | 1,576,385 | Common | SOLE |
| G2519Y108 | BAP | CREDICORP LTD | $29.1M | 0.48% | 101,221 | Common | SOLE |
| P31076105 | CPA | COPA HOLDINGS SA | $23.5M | 0.39% | 195,203 | Common | SOLE |
| 931142103 | WMT | WALMART INC | $23.1M | 0.38% | 207,606 | Common | SOLE |
| 09062X103 | BIIB | BIOGEN INC | $22.8M | 0.37% | 129,780 | Common | SOLE |
| 60770K107 | MRNA | MODERNA INC | $21.4M | 0.35% | 726,440 | Common | SOLE |
| 166764100 | CVX | CHEVRON CORP NEW | $20.2M | 0.33% | 132,485 | Common | SOLE |
| 45104G104 | IBN | ICICI BANK LIMITED | $12.7M | 0.21% | 427,852 | Common | SOLE |
| 85208T107 | CXM | SPRINKLR INC | $11.2M | 0.18% | 1,435,075 | Common | SOLE |
| 74319B502 | PROF | PROFOUND MED CORP | $7.6M | 0.12% | 970,675 | Common | SOLE |
| 40415F101 | HDB | HDFC BANK LTD | $6.5M | 0.11% | 177,035 | Common | SOLE |
| G8267P108 | SW | SMURFIT WESTROCK PLC | $3.8M | 0.06% | 97,909 | Common | SOLE |
| 78464A870 | XBI | SPDR SERIES TRUST | $3.7M | 0.06% | 32,825 | Common | SOLE |
| 808513105 | SCHW | SCHWAB CHARLES CORP | $2.0M | 0.03% | 19,746 | Common | SOLE |
| 456837103 | ING | ING GROEP N.V. | $1.4M | 0.02% | 48,925 | Common | SOLE |
| 79466L302 | CRM | SALESFORCE INC | $900,694 | 0.01% | 3,400 | Common | SOLE |
| 706327103 | PBA | PEMBINA PIPELINE CORP | $886,918 | 0.01% | 23,250 | Common | SOLE |
| 35473P769 | FLIN | FRANKLIN TEMPLETON ETF TR | $885,641 | 0.01% | 22,950 | Common | NONE |
| 780259305 | SHEL | SHELL PLC | $667,566 | 0.01% | 9,085 | Common | SOLE |
| 35671D857 | FCX | FREEPORT-MCMORAN INC | $488,854 | 0.01% | 9,625 | Common | SOLE |
| 91912E105 | VALE | VALE S A | $477,550 | 0.01% | 36,650 | Common | SOLE |
| 290876101 | EMA | EMERA INC | $418,694 | 0.01% | 8,485 | Common | SOLE |
| 296006109 | ERO | ERO COPPER CORP | $416,415 | 0.01% | 14,700 | Common | SOLE |
| N62509109 | NAMS | NEWAMSTERDAM PHARMA COMPANY | $413,067 | 0.01% | 11,775 | Common | SOLE |
| 349553107 | FTS | FORTIS INC | $411,267 | 0.01% | 7,900 | Common | SOLE |
| N6596X109 | NXPI | NXP SEMICONDUCTORS N V | $385,282 | 0.01% | 1,775 | Common | SOLE |
| 697947109 | PVLA | PALVELLA THERAPEUTICS INC NE | $366,345 | 0.01% | 3,500 | Common | SOLE |
| 012653101 | ALB | ALBEMARLE CORP | $350,064 | 0.01% | 2,475 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $341,796 | 0.01% | 1,092 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $309,033 | 0.01% | 639 | Common | SOLE |
| 82835W108 | SPRY | ARS PHARMACEUTICALS INC | $287,755 | 0.00% | 24,700 | Common | SOLE |
| 68389X105 | ORCL | ORACLE CORP | $276,772 | 0.00% | 1,420 | Common | SOLE |
| H2927K103 | AMRZ | AMRIZE LTD | $271,732 | 0.00% | 4,941 | Common | SOLE |
| G59665102 | MGTX | MEIRAGTX HLDGS PLC | $254,400 | 0.00% | 32,000 | Common | SOLE |
| 03843E104 | AQST | AQUESTIVE THERAPEUTICS INC | $228,200 | 0.00% | 35,325 | Common | SOLE |
| 12674W109 | CABA | CABALETTA BIO INC | $198,140 | 0.00% | 90,475 | Common | SOLE |
| 055477103 | BCAX | BICARA THERAPEUTICS INC | $188,075 | 0.00% | 11,175 | Common | SOLE |
| 05153U107 | AURA | AURA BIOSCIENCES INC | $154,235 | 0.00% | 28,300 | Common | SOLE |
| 88032L605 | TENX | TENAX THERAPEUTICS INC | $129,824 | 0.00% | 10,650 | Common | SOLE |
| 38341P102 | GOSS | GOSSAMER BIO INC | $122,140 | 0.00% | 39,400 | Common | SOLE |
| 76029N106 | REPL | REPLIMUNE GROUP INC | $104,976 | 0.00% | 10,800 | Common | SOLE |
| 89854M101 | TCRX | TSCAN THERAPEUTICS INC | $95,875 | 0.00% | 95,875 | Common | SOLE |
| 01438T106 | ALDX | ALDEYRA THERAPEUTICS INC | $89,614 | 0.00% | 17,300 | Common | SOLE |
| 44486Q103 | HUMA | HUMACYTE INC | $44,135 | 0.00% | 45,950 | Common | SOLE |
| 74291D104 | PROK | PROKIDNEY CORP | $35,616 | 0.00% | 15,900 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.