Letko, Brosseau & Associates 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
ABBVIE INC	COM	00287Y109	60,402	624,572	SH		SOLE		624,572	0	0
ADIENT PLC	ORD SHS	G0084W101	5,973	75,895	SH		SOLE		75,895	0	0
AETNA INC NEW	COM	00817Y108	487	2,700	SH		SOLE		2,700	0	0
AGRIUM INC	COM	008916108	160,281	1,389,021	SH		SOLE		1,389,021	0	0
ALPHABET INC	CAP STK CL A	02079K305	342	325	SH		SOLE		325	0	0
ALPHABET INC	CAP STK CL C	02079K107	975	932	SH		SOLE		932	0	0
AMAZON COM INC	COM	023135106	380	325	SH		SOLE		325	0	0
APACHE CORP	COM	037411105	274	6,500	SH		SOLE		6,500	0	0
APPLE INC	COM	037833100	338	2,000	SH		SOLE		2,000	0	0
AT&T INC	COM	00206R102	214,821	5,525,235	SH		SOLE		5,525,235	0	0
BANK AMER CORP	COM	060505104	253,278	8,579,874	SH		SOLE		8,579,874	0	0
BANK MONTREAL QUE	COM	063671101	420,318	5,235,486	SH		SOLE		5,235,486	0	0
BANK N S HALIFAX	COM	064149107	448,054	6,920,479	SH		SOLE		6,920,479	0	0
BB&T CORP	COM	054937107	52,099	1,047,855	SH		SOLE		1,047,855	0	0
BCE INC	COM NEW	05534B760	301,881	6,264,356	SH		SOLE		6,264,356	0	0
BIOGEN INC	COM	09062X103	68,019	213,513	SH		SOLE		213,513	0	0
BLACKBERRY LTD	COM	09228F103	39,717	3,544,360	SH		SOLE		3,544,360	0	0
BROOKFIELD PPTY PARTNERS L P	UNIT LTD PARTN	G16249107	168,218	7,568,014	SH		SOLE		7,568,014	0	0
CAE INC	COM	124765108	98,091	5,263,526	SH		SOLE		5,263,526	0	0
CAMECO CORP	COM	13321L108	42,637	4,601,384	SH		SOLE		4,601,384	0	0
CANADIAN NAT RES LTD	COM	136385101	499,633	13,936,224	SH		SOLE		13,936,224	0	0
CBS CORP NEW	CL B	124857202	21,923	371,580	SH		SOLE		371,580	0	0
CDN IMPERIAL BK COMM TORONTO	COM	136069101	19,976	204,246	SH		SOLE		204,246	0	0
CELESTICA INC	SUB VTG SHS	15101Q108	213,813	20,326,063	SH		SOLE		20,326,063	0	0
CENOVUS ENERGY INC	COM	15135U109	323,771	35,336,991	SH		SOLE		35,336,991	0	0
CHINA MOBILE LIMITED	SPONSORED ADR	16941M109	33,785	668,475	SH		SOLE		668,475	0	0
CIRRUS LOGIC INC	COM	172755100	19,996	385,580	SH		SOLE		385,580	0	0
CISCO SYS INC	COM	17275R102	198,673	5,187,275	SH		SOLE		5,187,275	0	0
CITIGROUP INC	COM NEW	172967424	271,004	3,642,036	SH		SOLE		3,642,036	0	0
COMCAST CORP NEW	CL A	20030N101	122,216	3,051,585	SH		SOLE		3,051,585	0	0
COMPANHIA DE SANEAMENTO BASI	SPONSORED ADR	20441A102	27,897	2,669,586	SH		SOLE		2,669,586	0	0
COMPANHIA PARANAENSE ENERG C	SPON ADR PFD	20441B407	34,041	4,461,528	SH		SOLE		4,461,528	0	0
CONOCOPHILLIPS	COM	20825C104	147,371	2,684,849	SH		SOLE		2,684,849	0	0
CREDICORP LTD	COM	G2519Y108	11,409	55,000	SH		SOLE		55,000	0	0
DEVON ENERGY CORP NEW	COM	25179M103	88,795	2,144,809	SH		SOLE		2,144,809	0	0
DICKS SPORTING GOODS INC	COM	253393102	47,731	1,660,778	SH		SOLE		1,660,778	0	0
DOMTAR CORP	COM NEW	257559203	843	16,975	SH		SOLE		16,975	0	0
DXC TECHNOLOGY CO	COM	23355L106	38,105	401,531	SH		SOLE		401,531	0	0
EASTMAN CHEM CO	COM	277432100	76,043	820,845	SH		SOLE		820,845	0	0
ENCANA CORP	COM	292505104	214,163	16,000,913	SH		SOLE		16,000,913	0	0
ENERPLUS CORP	COM	292766102	79,708	8,112,950	SH		SOLE		8,112,950	0	0
ENI S P A	SPONSORED ADR	26874R108	431	13,000	SH		SOLE		13,000	0	0
FACEBOOK INC	CL A	30303M102	406	2,300	SH		SOLE		2,300	0	0
FEDEX CORP	COM	31428X106	873	3,500	SH		SOLE		3,500	0	0
FLUOR CORP NEW	COM	343412102	41,567	804,788	SH		SOLE		804,788	0	0
FREEPORT-MCMORAN INC	CL B	35671D857	148,633	7,839,286	SH		SOLE		7,839,286	0	0
GENERAL ELECTRIC CO	COM	369604103	88,121	5,049,914	SH		SOLE		5,049,914	0	0
GILEAD SCIENCES INC	COM	375558103	99,053	1,382,646	SH		SOLE		1,382,646	0	0
GLAXOSMITHKLINE PLC	SPONSORED ADR	37733W105	36,452	1,027,688	SH		SOLE		1,027,688	0	0
GOODYEAR TIRE & RUBR CO	COM	382550101	92,580	2,865,360	SH		SOLE		2,865,360	0	0
HESS CORP	COM	42809H107	56,229	1,184,518	SH		SOLE		1,184,518	0	0
HEWLETT PACKARD ENTERPRISE C	COM	42824C109	47,031	3,275,159	SH		SOLE		3,275,159	0	0
HP INC	COM	40434L105	31,345	1,491,924	SH		SOLE		1,491,924	0	0
HUDBAY MINERALS INC	COM	443628102	249,469	28,083,699	SH		SOLE		28,083,699	0	0
ICICI BK LTD	ADR	45104G104	19,590	2,013,400	SH		SOLE		2,013,400	0	0
INDIA FD INC	COM	454089103	3,969	151,945	SH		SOLE		151,945	0	0
INFOSYS LTD	SPONSORED ADR	456788108	2,072	127,725	SH		SOLE		127,725	0	0
ING GROEP N V	SPONSORED ADR	456837103	4,171	225,972	SH		SOLE		225,972	0	0
INTEL CORP	COM	458140100	146,327	3,169,995	SH		SOLE		3,169,995	0	0
INTERNATIONAL BUSINESS MACHS	COM	459200101	146,914	957,593	SH		SOLE		957,593	0	0
JOHNSON CTLS INTL PLC	SHS	G51502105	36,559	959,308	SH		SOLE		959,308	0	0
LIFEPOINT HEALTH INC	COM	53219L109	71,197	1,429,654	SH		SOLE		1,429,654	0	0
MAGNA INTL INC	COM	559222401	325,644	5,727,364	SH		SOLE		5,727,364	0	0
MANULIFE FINL CORP	COM	56501R106	373,598	17,852,757	SH		SOLE		17,852,757	0	0
MEDTRONIC PLC	SHS	G5960L103	29,480	365,075	SH		SOLE		365,075	0	0
MERCK & CO INC	COM	58933Y105	134,945	2,398,173	SH		SOLE		2,398,173	0	0
METLIFE INC	COM	59156R108	508	10,049	SH		SOLE		10,049	0	0
MICROSOFT CORP	COM	594918104	231	2,700	SH		SOLE		2,700	0	0
MOBILE TELESYSTEMS PJSC	SPONSORED ADR	607409109	9,716	953,450	SH		SOLE		953,450	0	0
MORGAN STANLEY INDIA INVS FD	COM	61745C105	15,751	475,150	SH		SOLE		475,150	0	0
NORBORD INC	COM NEW	65548P403	159,769	4,704,631	SH		SOLE		4,704,631	0	0
OPEN TEXT CORP	COM	683715106	1,329	37,230	SH		SOLE		37,230	0	0
ORACLE CORP	COM	68389X105	81,914	1,732,533	SH		SOLE		1,732,533	0	0
PENGROWTH ENERGY CORP	COM	70706P104	33,884	42,455,331	SH		SOLE		42,455,331	0	0
PFIZER INC	COM	717081103	140,507	3,879,264	SH		SOLE		3,879,264	0	0
PRECISION DRILLING CORP	COM 2010	74022D308	42,938	14,120,425	SH		SOLE		14,120,425	0	0
ROGERS COMMUNICATIONS INC	CL B	775109200	229,661	4,492,641	SH		SOLE		4,492,641	0	0
ROYAL BK CDA MONTREAL QUE	COM	780087102	405,792	4,953,116	SH		SOLE		4,953,116	0	0
ROYAL DUTCH SHELL PLC	SPON ADR B	780259107	839	12,287	SH		SOLE		12,287	0	0
ROYAL DUTCH SHELL PLC	SPONS ADR A	780259206	239,087	3,583,976	SH		SOLE		3,583,976	0	0
SANOFI	SPONSORED ADR	80105N105	245	5,699	SH		SOLE		5,699	0	0
SPIRIT AIRLS INC	COM	848577102	27,034	602,760	SH		SOLE		602,760	0	0
STATE STR CORP	COM	857477103	146,501	1,500,883	SH		SOLE		1,500,883	0	0
STATOIL ASA	SPONSORED ADR	85771P102	6,754	315,296	SH		SOLE		315,296	0	0
SUN LIFE FINL INC	COM	866796105	328,196	7,926,247	SH		SOLE		7,926,247	0	0
SUNCOR ENERGY INC NEW	COM	867224107	530,970	14,415,591	SH		SOLE		14,415,591	0	0
TD AMERITRADE HLDG CORP	COM	87236Y108	256	5,000	SH		SOLE		5,000	0	0
TECK RESOURCES LTD	CL B	878742204	358,606	13,669,450	SH		SOLE		13,669,450	0	0
TELEFLEX INC	COM	879369106	274	1,100	SH		SOLE		1,100	0	0
TELEFONICA S A	SPONSORED ADR	879382208	315	32,586	SH		SOLE		32,586	0	0
TELUS CORP	COM	87971M103	356,880	9,390,015	SH		SOLE		9,390,015	0	0
TENET HEALTHCARE CORP	COM NEW	88033G407	30,300	1,998,700	SH		SOLE		1,998,700	0	0
THOMSON REUTERS CORP	COM	884903105	249,701	5,710,224	SH		SOLE		5,710,224	0	0
TORONTO DOMINION BK ONT	COM NEW	891160509	390,095	6,636,387	SH		SOLE		6,636,387	0	0
TOTAL S A	SPONSORED ADR	89151E109	453	8,189	SH		SOLE		8,189	0	0
UNITED PARCEL SERVICE INC	CL B	911312106	87,971	738,323	SH		SOLE		738,323	0	0
UNITEDHEALTH GROUP INC	COM	91324P102	843	3,824	SH		SOLE		3,824	0	0
VERIFONE SYS INC	COM	92342Y109	48,244	2,724,130	SH		SOLE		2,724,130	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	228,986	4,326,199	SH		SOLE		4,326,199	0	0
VISA INC	COM CL A	92826C839	520	4,560	SH		SOLE		4,560	0	0
VODAFONE GROUP PLC NEW	SPONSORED ADR	92857W308	78,051	2,446,743	SH		SOLE		2,446,743	0	0
WAL-MART STORES INC	COM	931142103	147,781	1,496,516	SH		SOLE		1,496,516	0	0