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 |
Becton Dickinson
BDX
|
+$1.55B |
| 2 |
Scotiabank
BNS
|
+$927M |
| 3 |
BHP
BHP
|
+$712M |
| 4 |
Abbott
ABT
|
+$663M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$394M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Toronto Dominion Bank
TD
|
+$1.12B |
| 2 |
Royal Bank of Canada
RY
|
+$965M |
| 3 |
Suncor Energy
SU
|
+$549M |
| 4 |
Thomson Reuters
TRI
|
+$392M |
| 5 |
Stantec
STN
|
+$233M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 20.65% |
| 2 | Financials | 19.89% |
| 3 | Healthcare | 18.29% |
| 4 | Technology | 9.77% |
| 5 | Materials | 9.64% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Scotiabank
BNS
$114B
| $1.35B | 9.41% |
36,212,738
+18,864,415
| +109% | +$927M |
2013 Q2
12 quarters
|
|
|
2
BHP
BHP
$201B
| $1.12B | 7.76% |
29,602,612
+28,556,867
| +2,731% | +$712M |
2013 Q2
12 quarters
|
|
|
3
Abbott
ABT
$183B
| $1.06B | 7.37% |
18,800,322
+16,664,605
| +780% | +$663M |
2013 Q2
12 quarters
|
|
4
Canadian Natural Resources
CNQ
$115B
| $766M | 5.33% |
50,558,942
+12,017,305
| +31% | +$170M |
2013 Q2
12 quarters
|
|
5
Canadian National Railway
CNI
$75.1B
| $735M | 5.11% |
11,982,848
+1,299,386
| +12% | +$78.4M |
2013 Q2
12 quarters
|
|
6
Enbridge
ENB
$110B
| $634M | 4.41% |
15,043,127
-150,568
| -1% | -$6.14M |
2013 Q2
12 quarters
|
|
|
7
Becton Dickinson
BDX
$54B
| $531M | 3.69% |
10,632,766
+9,708,384
| +1,050% | +$1.55B |
2013 Q2
12 quarters
|
|
8
Open Text
OTEX
$6.43B
| $501M | 3.48% |
17,043,200
-131,676
| -0.8% | -$3.73M |
2013 Q2
12 quarters
|
|
9
Manulife Financial
MFC
$73.8B
| $465M | 3.24% |
34,209,133
-465,509
| -1% | -$6.63M |
2013 Q2
12 quarters
|
|
10
Cenovus Energy
CVE
$60B
| $345M | 2.39% |
24,904,835
-231,773
| -0.9% | -$3.36M |
2013 Q2
12 quarters
|
|
11
Gildan
GIL
$7.39B
| $344M | 2.39% |
11,804,911
-58,566
| -0.5% | -$1.75M |
2015 Q1
5 quarters
|
|
12
Pembina Pipeline
PBA
$29.9B
| $268M | 1.86% |
8,854,492
-86,032
| -1% | -$2.51M |
2013 Q3
11 quarters
|
|
13
Bank of New York Mellon
BNY
$98.6B
| $258M | 1.79% |
10,322,439
+9,384,511
| +1,001% | +$373M |
2013 Q2
12 quarters
|
|
|
POT
14
DELISTED
Potash Corp Of Saskatchewan
POT
| $255M | 1.77% |
15,754,714
+5,795
| +0% | +$97K |
2013 Q2
12 quarters
|
|
15
Cameco
CCJ
$32.8B
| $251M | 1.74% |
17,180,015
+293,494
| +2% | +$3.48M |
2013 Q2
12 quarters
|
|
16
CGI
GIB
$16.7B
| $236M | 1.64% |
5,540,596
-44,636
| -0.8% | -$2.06M |
2014 Q4
6 quarters
|
|
17
Chevron
CVX
$461B
| $222M | 1.54% |
3,793,376
+3,051,817
| +412% | +$307M |
2013 Q2
12 quarters
|
|
18
Johnson & Johnson
JNJ
$666B
| $211M | 1.47% |
1,738,858
-66,150
| -4% | -$7.52M |
2013 Q2
12 quarters
|
|
19
Cardinal Health
CAH
$58.8B
| $200M | 1.39% |
2,410,480
+2,259,453
| +1,496% | +$180M |
2013 Q2
12 quarters
|
|
20
PepsiCo
PEP
$188B
| $186M | 1.29% |
1,753,034
-24,533
| -1% | -$2.53M |
2013 Q2
12 quarters
|
|
21
Procter & Gamble
PG
$378B
| $185M | 1.29% |
2,183,427
-40,918
| -2% | -$3.36M |
2013 Q2
12 quarters
|
|
22
Colgate-Palmolive
CL
$76.7B
| $173M | 1.2% |
2,357,224
-80,318
| -3% | -$5.72M |
2013 Q2
12 quarters
|
|
23
ExxonMobil
XOM
$767B
| $163M | 1.13% |
1,740,013
-15,730
| -0.9% | -$1.39M |
2013 Q2
12 quarters
|
|
24
CAE Inc
CAE
$8.3B
| $155M | 1.08% |
12,883,017
-183,237
| -1% | -$2.21M |
2013 Q2
12 quarters
|
|
25
JPMorgan Chase
JPM
$895B
| $153M | 1.06% |
2,460,143
-2,835
| -0.1% | -$177K |
2013 Q2
12 quarters
|
|
Similar funds
Jarislowsky, Fraser Ltd's Q2 2016 Portfolio in Review
As of Q2 2016, Jarislowsky, Fraser Ltd held 143 positions worth $14.4B, up 0.6% from $14.3B the previous quarter. Its ten largest holdings account for 52% of the portfolio.
Jarislowsky, Fraser Ltd deployed $1.59B of net new capital in Q2 2016, adding to 58 existing holdings.
By sector, the portfolio is most concentrated in Energy at 21% of assets, down from 23% a quarter earlier, followed by Financials and Healthcare.
On the sell side, the largest reduction was IBM, an estimated $87.3M trimmed.
- Jarislowsky, Fraser Ltd added most to Becton Dickinson in Q2 2016, an estimated $1.55B increase.
- Jarislowsky, Fraser Ltd's biggest Q2 2016 reduction was IBM, cutting an estimated $87.3M.
- Jarislowsky, Fraser Ltd fully exited Toronto Dominion Bank in Q2 2016, selling an estimated $1.12B.
- Jarislowsky, Fraser Ltd's ten largest holdings make up 52% of its $14.4B portfolio in Q2 2016.
- Jarislowsky, Fraser Ltd opened 0 new positions and closed 41 in Q2 2016.
- Jarislowsky, Fraser Ltd's portfolio value rose 0.6% quarter-over-quarter to $14.4B.
Based on Jarislowsky, Fraser Ltd's 13F filing for Q2 2016, filed 11 Aug 2016.