Jarislowsky, Fraser Ltd Portfolio holdings
Jarislowsky Fraser started in 1955 as a Montreal research firm that sold its stock research to investment managers in the US and UK. Its founder, Stephen Jarislowsky, was a Harvard-educated investor and former Alcan executive. The firm won its first pension fund client by 1966, and managing money for institutions became its core business. Scotiabank bought it in 2018, and the firm kept its Montreal headquarters and its investment independence. It looks for quality, sustainable businesses to hold for long-term growth, and serves pension funds, endowments, foundations, corporations and Indigenous communities.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cenovus Energy
CVE
|
+$45.3M |
| 2 |
Open Text
OTEX
|
+$40.4M |
| 3 |
Canadian Natural Resources
CNQ
|
+$33.4M |
| 4 |
Suncor Energy
SU
|
+$26.8M |
| 5 |
Stantec
STN
|
+$26.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SJR
Shaw Communications Inc.
SJR
|
+$165M |
| 2 |
Toronto Dominion Bank
TD
|
+$64.1M |
| 3 |
Scotiabank
BNS
|
+$64M |
| 4 |
Royal Bank of Canada
RY
|
+$54.6M |
| 5 |
Canadian National Railway
CNI
|
+$33.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 31.18% |
| 2 | Energy | 27.89% |
| 3 | Industrials | 11.5% |
| 4 | Consumer Staples | 7.12% |
| 5 | Healthcare | 7.03% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Toronto Dominion Bank
TD
$203B
| $1.47B | 8.2% |
28,452,325
-1,321,306
| -4% | -$64.1M |
2013 Q2
4 quarters
|
|
|
2
Royal Bank of Canada
RY
$283B
| $1.31B | 7.33% |
18,313,345
-804,989
| -4% | -$54.6M |
2013 Q2
4 quarters
|
|
|
3
Scotiabank
BNS
$114B
| $1.26B | 7.02% |
20,077,924
-1,106,607
| -5% | -$64M |
2013 Q2
4 quarters
|
|
|
4
Suncor Energy
SU
$77.6B
| $989M | 5.52% |
23,154,529
+688,295
| +3% | +$26.8M |
2013 Q2
4 quarters
|
|
|
5
Canadian Natural Resources
CNQ
$97.8B
| $865M | 4.83% |
38,849,288
+1,668,493
| +4% | +$33.4M |
2013 Q2
4 quarters
|
|
|
6
Canadian National Railway
CNI
$76.3B
| $769M | 4.29% |
11,798,964
-567,649
| -5% | -$33.8M |
2013 Q2
4 quarters
|
|
|
7
Cenovus Energy
CVE
$49.9B
| $746M | 4.17% |
22,962,281
+1,524,629
| +7% | +$45.3M |
2013 Q2
4 quarters
|
|
8
Manulife Financial
MFC
$73B
| $627M | 3.5% |
31,503,561
-920,310
| -3% | -$17.4M |
2013 Q2
4 quarters
|
|
9
Enbridge
ENB
$106B
| $604M | 3.38% |
12,711,864
-581,571
| -4% | -$27.5M |
2013 Q2
4 quarters
|
|
|
POT
10
DELISTED
Potash Corp Of Saskatchewan
POT
| $601M | 3.36% |
15,773,595
-710,992
| -4% | -$25.7M |
2013 Q2
4 quarters
|
|
11
Thomson Reuters
TRI
$46.9B
| $527M | 2.94% |
12,455,199
-585,071
| -4% | -$23.9M |
2013 Q2
4 quarters
|
|
|
12
Open Text
OTEX
$6.02B
| $380M | 2.12% |
15,797,826
+1,706,098
| +12% | +$40.4M |
2013 Q2
4 quarters
|
|
|
THI
13
DELISTED
TIM HORTONS INC COM, CANADA
THI
| $357M | 1.99% |
6,513,175
-267,254
| -4% | -$14.7M |
2013 Q2
4 quarters
|
|
14
TC Energy
TRP
$65.5B
| $350M | 1.95% |
7,311,736
-367,350
| -5% | -$17.1M |
2013 Q2
4 quarters
|
|
|
TLM
15
DELISTED
TALISMAN ENERGY INC
TLM
| $317M | 1.77% |
29,932,469
-1,409,860
| -4% | -$14.7M |
2013 Q2
4 quarters
|
|
16
Cameco
CCJ
$32.8B
| $278M | 1.55% |
14,149,238
-550,006
| -4% | -$11.5M |
2013 Q2
4 quarters
|
|
17
Johnson & Johnson
JNJ
$679B
| $256M | 1.43% |
2,443,445
-82,951
| -3% | -$8.38M |
2013 Q2
4 quarters
|
|
|
SJR
18
DELISTED
Shaw Communications Inc.
SJR
| $218M | 1.22% |
8,477,812
-6,702,345
| -44% | -$165M |
2013 Q2
4 quarters
|
|
19
DELISTED
Walgreens Boots Alliance
WBA
| $217M | 1.21% |
2,924,938
-135,212
| -4% | -$9.45M |
2013 Q2
4 quarters
|
|
20
ExxonMobil
XOM
$672B
| $205M | 1.14% |
2,033,505
-52,237
| -3% | -$5.27M |
2013 Q2
4 quarters
|
|
21
Procter & Gamble
PG
$390B
| $199M | 1.11% |
2,538,279
+8,782
| +0.3% | +$708K |
2013 Q2
4 quarters
|
|
22
Colgate-Palmolive
CL
$77.9B
| $198M | 1.11% |
2,907,102
-94,063
| -3% | -$6.3M |
2013 Q2
4 quarters
|
|
23
CAE Inc
CAE
$8.86B
| $189M | 1.06% |
14,442,456
-891,250
| -6% | -$11.9M |
2013 Q2
4 quarters
|
|
24
PepsiCo
PEP
$193B
| $186M | 1.04% |
2,084,591
-69,536
| -3% | -$6M |
2013 Q2
4 quarters
|
|
25
Wells Fargo
WFC
$257B
| $175M | 0.98% |
3,335,612
-103,088
| -3% | -$5.18M |
2013 Q2
4 quarters
|
|
Similar funds
Jarislowsky, Fraser Ltd's Q2 2014 Portfolio in Review
As of Q2 2014, Jarislowsky, Fraser Ltd held 137 positions worth $17.9B, up 3.9% from $17.2B the previous quarter. Its ten largest holdings account for 52% of the portfolio.
Jarislowsky, Fraser Ltd withdrew a net $563M in Q2 2014, closing 2 positions and reducing 92 holdings. Its most notable exit was SIEMENS AKTIENGESELLSCHAFT ADS, an estimated $26.1M position sold in full.
By sector, the portfolio is most concentrated in Financials at 31% of assets, down from 31% a quarter earlier, followed by Energy and Industrials.
Against the trend, Jarislowsky, Fraser Ltd opened a new position in Comcast worth $202K.
- Jarislowsky, Fraser Ltd's largest Q2 2014 buy was Comcast: 7,524 shares worth $202K.
- Jarislowsky, Fraser Ltd added most to Cenovus Energy in Q2 2014, an estimated $45.3M increase.
- Jarislowsky, Fraser Ltd's biggest Q2 2014 reduction was Shaw Communications Inc., cutting an estimated $165M.
- Jarislowsky, Fraser Ltd fully exited SIEMENS AKTIENGESELLSCHAFT ADS in Q2 2014, selling an estimated $26.1M.
- Jarislowsky, Fraser Ltd's ten largest holdings make up 52% of its $17.9B portfolio in Q2 2014.
- Jarislowsky, Fraser Ltd opened 1 new position and closed 2 in Q2 2014.
- Jarislowsky, Fraser Ltd's portfolio value rose 3.9% quarter-over-quarter to $17.9B.
Based on Jarislowsky, Fraser Ltd's 13F filing for Q2 2014, filed 11 Aug 2014.