Firm profile

Letko, Brosseau & Associates Inc..

MONTREAL, QUEBEC, CanadaCRD 133221Registration Status: ApprovedEffective since June 10, 2005SEC # 801-64074Latest ADV December 22, 2025

Letko, Brosseau & Associates Inc. is an SEC registered investment adviser organized as a corporation with a primary office location in Montreal, Quebec, Canada. Its latest Form ADV filing, dated December 22, 2025, reports $18.8B in regulatory assets under management, 75 employees, 3 offices, and 2,186 accounts.

Assets Under Management
$18.8B
Employees
75
Offices
3 offices
Total Clients
2,186

Associated firm names

7 names listed
  • LB
  • LETKOBROSSEAU
  • LETKO, BROSSEAU & ASSOCIATES INC.
  • LETKO BROSSEAU INVESTMENT MANAGEMENT INC

Leadership

2 roles identified
CCOIsabelle M. C. Godin
CFOIsabelle M. C. Godin

Advisory services offered

4 types reported
Financial Planning Services
Portfolio management for businesses
Portfolio management for individuals and small businesses

Fee models offered

1 types reported
Asset based fees

Offices & Contact

Primary office

MONTREAL, QUEBEC, Canada

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Primary office regionOther reported regions

Shading shows states and countries with reported offices. Cities are listed below; shading does not indicate service coverage.

Canada

MONTREAL, QUEBECPrimary office · CALGARY, ALBERTA · TORONTO, ONTARIO

3 office records listed · 3 total offices reported. Counts can use different reporting dates. SEC filers may list only their largest 25 additional offices.

Contact and digital presence

ADV profile links

Regulatory Assets Under Management Breakdown

Total regulatory assets under management$18.8Bas of December 22, 2025
Discretionary100.0%
$18.8B
100% of total RAUM100.0%
Non-discretionary0.0%
$0
0% of total RAUM0.0%
All regulatory assets under management are discretionary.

Client Coverage Demographics

Top client segmentIndividuals represent 46.9% of total clients.
Top client categories% of clientsClients
1
Individuals
46.9%
1,026
2
HNWI
26.1%
571
3
Corporations
17.3%
379
4
Pension Plans
4.2%
91
5
Charitable
4.1%
90

Assets under management Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total AUM$18.8B
Total Accounts2,186
10Y AUM Change$-2.1B (-9.9%)

Private Funds

Private funds reported by Letko, Brosseau & Associates Inc..

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Employee Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total Employees75
Clients per Employee29:1
10Y Employee Change+29 (+63.0%)

Historical AUM and employee figures reflect available SEC Form ADV filings under this CRD. Filing gaps may reflect registration status changes, dormant periods, state registration periods, firm restructuring, or other reporting changes. Rialytix does not interpolate missing periods.


Ownership

Reported direct and indirect ownership ranges

Each range applies to a separate reported relationship and should not be added together.

Reported ownership ranges

Highlighted bands show the percentage range reported in Form ADV.

0%25%50%75%100%
4554361 CANADA INC.Direct owner · Schedule AInterest in LETKO, BROSSEAU & ASSOCIATES INC.
25% to < 50%
4554353 CANADA INC.Direct owner · Schedule AInterest in LETKO, BROSSEAU & ASSOCIATES INC.
25% to < 50%
CANDOR INVESTMENTS LTDDirect owner · Schedule AInterest in LETKO, BROSSEAU & ASSOCIATES INC.
5% to < 10%
BELKORP INDUSTRIES INC.Direct owner · Schedule AInterest in LETKO, BROSSEAU & ASSOCIATES INC.
5% to < 10%
DANIEL FRANÇOIS BROSSEAUIndirect owner · Schedule BInterest in 4554353 CANADA INC.
75%+
PETER LETKOIndirect owner · Schedule BInterest in 4554361 CANADA INC.
75%+
THE MORRIS BELKIN FAMILY TRUSTIndirect owner · Schedule BInterest in BELKORP INDUSTRIES INC.
75%+
BELKIN FAMILY ENTERPRISES LTD.Indirect owner · Schedule BInterest in BELKORP INDUSTRIES INC.
75%+
BELKIN FAMILY INVESTMENTS LTDIndirect owner · Schedule BInterest in BELKIN FAMILY ENTERPRISES LTD.
75%+
ALTON STUART BELKINIndirect owner · Schedule BInterest in THE MORRIS BELKIN FAMILY TRUST
25% to < 50%
DONALD GORDON JEWELLIndirect owner · Schedule BInterest in THE MORRIS BELKIN FAMILY TRUST
25% to < 50%
THOMAS DOUGLAS LINDSAYIndirect owner · Schedule BInterest in THE MORRIS BELKIN FAMILY TRUST
25% to < 50%
William Carter SiebensIndirect owner · Schedule BInterest in CANDOR INVESTMENTS LTD
25% to < 50%
RHONDDA MARIE SIEBENSIndirect owner · Schedule BInterest in CANDOR INVESTMENTS LTD
25% to < 50%
EVANN ELIZABETH SIEBENSIndirect owner · Schedule BInterest in CANDOR INVESTMENTS LTD
25% to < 50%
ALTON STUART BELKINIndirect owner · Schedule BInterest in BELKIN FAMILY INVESTMENTS LTD
25% to < 50%
WENDY DIANE VALDESIndirect owner · Schedule BInterest in BELKIN FAMILY INVESTMENTS LTD
25% to < 50%
MARGARET ISABEL CORBETTIndirect owner · Schedule BInterest in BELKIN FAMILY INVESTMENTS LTD
25% to < 50%

Bars represent the reported range at that individual ownership step, not an estimated percentage of the advisory firm. Indirect relationships may refer to intermediate entities rather than directly to Letko, Brosseau & Associates Inc...

Reported ownership and control details

Form ADV · Filing date 2025-12-22 · Schedules A and B

28 entries
#Owner / person & roleInterest in entityReported interestControl personTitle / status acquiredSource
1DANIEL FRANÇOIS BROSSEAUEXECUTIVE OFFICER & DIRECTORIndividualLETKO, BROSSEAU & ASSOCIATES INC.Less than 5%Code NAYesEXECUTIVE OFFICER & DIRECTOR07/1987Schedule APDF page 54
24554361 CANADA INC.COMMON SHAREHOLDERForeign entityLETKO, BROSSEAU & ASSOCIATES INC.25% to less than 50%Code CYesCOMMON SHAREHOLDER03/2010Schedule APDF page 54
34554353 CANADA INC.COMMON SHAREHOLDERForeign entityLETKO, BROSSEAU & ASSOCIATES INC.25% to less than 50%Code CYesCOMMON SHAREHOLDER03/2010Schedule APDF page 54
4CANDOR INVESTMENTS LTDCOMMON SHAREHOLDERForeign entityLETKO, BROSSEAU & ASSOCIATES INC.5% to less than 10%Code ANoCOMMON SHAREHOLDER03/1996Schedule APDF page 54
5BELKORP INDUSTRIES INC.COMMON SHAREHOLDERForeign entityLETKO, BROSSEAU & ASSOCIATES INC.5% to less than 10%Code ANoCOMMON SHAREHOLDER01/2007Schedule APDF page 54
6ROBERT JOSEPH MARIENDIRECTORIndividualLETKO, BROSSEAU & ASSOCIATES INC.Less than 5%Code NAYesDIRECTOR05/2017Schedule APDF page 54
7Jean André ÉlieDIRECTORIndividualLETKO, BROSSEAU & ASSOCIATES INC.Less than 5%Code NAYesDIRECTOR05/2017Schedule APDF page 54
8ISABELLE MARIE COLETTE GODINCHIEF COMPLIANCE OFFICER AND CHIEF FINANCIAL OFFICERIndividualLETKO, BROSSEAU & ASSOCIATES INC.Less than 5%Code NAYesCHIEF COMPLIANCE OFFICER AND CHIEF FINANCIAL OFFICER10/2017Schedule APDF page 54
9Jean GattusoCHAIRMAN OF THE BOARD OF DIRECTORIndividualLETKO, BROSSEAU & ASSOCIATES INC.Less than 5%Code NAYesCHAIRMAN OF THE BOARD OF DIRECTOR01/2025Schedule APDF page 54
10Nathalie Claude Baroux-FrancisciDIRECTORIndividualLETKO, BROSSEAU & ASSOCIATES INC.Less than 5%Code NAYesDIRECTOR12/2022Schedule APDF page 54
11DAVID DESPRÉSEXECUTIVE VICE-PRESIDENTIndividualLETKO, BROSSEAU & ASSOCIATES INC.Less than 5%Code NAYesEXECUTIVE VICE-PRESIDENT05/2025Schedule APDF page 54
12ROGER ANDRE RENAUDDIRECTORIndividualLETKO, BROSSEAU & ASSOCIATES INC.Less than 5%Code NAYesDIRECTOR03/2025Schedule APDF page 54
13COLLEEN MARY JOHNSTONDIRECTORIndividualLETKO, BROSSEAU & ASSOCIATES INC.Less than 5%Code NAYesDIRECTOR03/2025Schedule APDF page 54
14PETER LETKODIRECTORIndividualLETKO, BROSSEAU & ASSOCIATES INC.Less than 5%Code NAYesDIRECTOR07/1987Schedule APDF page 54
15DANIEL FRANÇOIS BROSSEAUCOMMON SHAREHOLDERIndividual4554353 CANADA INC.75% or moreCode EYesCOMMON SHAREHOLDER03/2010Schedule BPDF page 55
16PETER LETKOCOMMON SHAREHOLDERIndividual4554361 CANADA INC.75% or moreCode EYesCOMMON SHAREHOLDER03/2010Schedule BPDF page 55
17THE MORRIS BELKIN FAMILY TRUSTCOMMON SHAREHOLDERForeign entityBELKORP INDUSTRIES INC.75% or moreCode EYesCOMMON SHAREHOLDER01/2007Schedule BPDF page 55
18ALTON STUART BELKINTRUSTEEIndividualTHE MORRIS BELKIN FAMILY TRUST25% to less than 50%Code CYesTRUSTEE01/2007Schedule BPDF page 55
19DONALD GORDON JEWELLTRUSTEEIndividualTHE MORRIS BELKIN FAMILY TRUST25% to less than 50%Code CYesTRUSTEE01/2007Schedule BPDF page 55
20THOMAS DOUGLAS LINDSAYTRUSTEEIndividualTHE MORRIS BELKIN FAMILY TRUST25% to less than 50%Code CYesTRUSTEE02/2019Schedule BPDF page 55
21William Carter SiebensCOMMON SHAREHOLDERIndividualCANDOR INVESTMENTS LTD25% to less than 50%Code CYesCOMMON SHAREHOLDER06/2020Schedule BPDF page 55
22RHONDDA MARIE SIEBENSCOMMON SHAREHOLDERIndividualCANDOR INVESTMENTS LTD25% to less than 50%Code CYesCOMMON SHAREHOLDER06/2020Schedule BPDF page 55
23EVANN ELIZABETH SIEBENSCOMMON SHAREHOLDERIndividualCANDOR INVESTMENTS LTD25% to less than 50%Code CYesCOMMON SHAREHOLDER06/2020Schedule BPDF page 55
24BELKIN FAMILY ENTERPRISES LTD.COMMON SHAREHOLDERForeign entityBELKORP INDUSTRIES INC.75% or moreCode ENoCOMMON SHAREHOLDER01/2007Schedule BPDF page 55
25BELKIN FAMILY INVESTMENTS LTDCOMMON SHAREHOLDERForeign entityBELKIN FAMILY ENTERPRISES LTD.75% or moreCode EYesCOMMON SHAREHOLDER01/2007Schedule BPDF page 55
26ALTON STUART BELKINBENEFICIAL OWNERIndividualBELKIN FAMILY INVESTMENTS LTD25% to less than 50%Code CYesBENEFICIAL OWNER01/2007Schedule BPDF page 55
27WENDY DIANE VALDESBENEFICIAL OWNERIndividualBELKIN FAMILY INVESTMENTS LTD25% to less than 50%Code CYesBENEFICIAL OWNER01/2007Schedule BPDF page 55
28MARGARET ISABEL CORBETTBENEFICIAL OWNERIndividualBELKIN FAMILY INVESTMENTS LTD25% to less than 50%Code CYesBENEFICIAL OWNER01/2007Schedule BPDF page 55

Less than 5% may include zero. Code F identifies a role without specifying a percentage. Reported interests may overlap and may not include every owner. Total indirect ownership is not calculated.

Compliance & Disclosures

Filing dated 12/22/2025 4:19:32 PM

Responses were selected by the RIA in its filing. Questions are shortened for readability; “you” refers to the reporting firm, and some questions also cover advisory affiliates.

RIA or supervised-person involvementThe RIA reported that none of the events below involve the firm or its supervised persons.RIA responseNo
AFelonies2 No

In the past ten years, have you or any advisory affiliate:

  • A1Been convicted of or pleaded guilty or no contest to a felony?No
  • A2Been charged with a felony?No
BMisdemeanors2 No

In the past ten years, have you or any advisory affiliate:

  • B1Been convicted of or pleaded guilty or no contest to a misdemeanor involving investments, an investment-related business, fraud, false statements or omissions, wrongful taking of property, bribery, perjury, forgery, counterfeiting, or extortion?No
  • B2Been charged with a misdemeanor of the kind listed above?No
CSEC or CFTC actions5 No

Has the SEC or CFTC ever:

  • C1Found you or an advisory affiliate made a false statement or omission?No
  • C2Found you or an advisory affiliate violated SEC or CFTC regulations or statutes?No
  • C3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • C4Entered an order against you or an advisory affiliate in connection with investment-related activity?No
  • C5Imposed a civil money penalty on you or an advisory affiliate, or ordered you or an advisory affiliate to cease and desist from any activity?No
DOther regulatory actions5 No

Has any other federal regulatory agency, state regulatory agency, or foreign financial regulatory authority ever:

  • D1Found you or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?No
  • D2Found you or an advisory affiliate violated investment-related regulations or statutes?No
  • D3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • D4In the past ten years, entered an order against you or an advisory affiliate in connection with investment-related activity?No
  • D5Denied, suspended, or revoked your or an advisory affiliate’s registration or license, or otherwise prevented association with an investment-related business or restricted activities?No
ESelf-regulatory organization actions4 No

Has a self-regulatory organization or commodities exchange ever:

  • E1Found you or an advisory affiliate made a false statement or omission?No
  • E2Found you or an advisory affiliate violated its rules, other than a violation designated as a minor rule violation under an SEC-approved plan?No
  • E3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • E4Disciplined you or an advisory affiliate by expulsion, suspension, barring association with other members, or otherwise restricting activities?No
FProfessional authorizations1 No
  • FHas an authorization to act as an attorney, accountant, or federal contractor granted to you or an advisory affiliate ever been revoked or suspended?No
GPending regulatory proceedings1 No
  • GAre you or any advisory affiliate now the subject of a regulatory proceeding that could result in a “Yes” answer to any part of C, D, or E?No
HCivil judicial actions and proceedings4 No

(1) Court actions

Has a domestic or foreign court:

  • H(1)(a)In the past ten years, enjoined you or an advisory affiliate in connection with investment-related activity?No
  • H(1)(b)Found that you or an advisory affiliate violated investment-related statutes or regulations?No
  • H(1)(c)Dismissed, pursuant to a settlement agreement, an investment-related civil action brought against you or an advisory affiliate by a state or foreign financial regulatory authority?No

(2) Pending civil proceedings

  • H(2)Are you or any advisory affiliate now the subject of a civil proceeding that could result in a “Yes” answer to any part of H(1)?No

* Metrics are based on the latest available data, including Form ADV filings, brochures, and relationship summaries pulled from the SEC IAPD, and may be subject to change. Learn what is included in the Rialytix data. Please refer to the firm's official disclosures for the most accurate information using their CRD number. This is not investment advice.