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 |
Toronto Dominion Bank
TD
|
+$1.14B |
| 2 |
Royal Bank of Canada
RY
|
+$1.03B |
| 3 |
Suncor Energy
SU
|
+$442M |
| 4 |
Thomson Reuters
TRI
|
+$396M |
| 5 |
Stantec
STN
|
+$249M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Becton Dickinson
BDX
|
+$1.67B |
| 2 |
Scotiabank
BNS
|
+$997M |
| 3 |
BHP
BHP
|
+$793M |
| 4 |
Abbott
ABT
|
+$708M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$412M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 29.55% |
| 2 | Energy | 23.05% |
| 3 | Industrials | 13.11% |
| 4 | Technology | 10.83% |
| 5 | Healthcare | 8.35% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Toronto Dominion Bank
TD
$203B
| $1.15B | 7.76% |
+25,967,864
| New | +$1.14B |
2016 Q3
0 quarters
|
|
|
2
Royal Bank of Canada
RY
$281B
| $1.03B | 6.96% |
+16,685,855
| New | +$1.03B |
2016 Q3
0 quarters
|
|
|
3
Scotiabank
BNS
$114B
| $895M | 6.04% |
16,929,032
-19,283,706
| -53% | -$997M |
2013 Q2
13 quarters
|
|
4
Canadian National Railway
CNI
$74.7B
| $693M | 4.68% |
10,626,200
-1,356,648
| -11% | -$85.7M |
2013 Q2
13 quarters
|
|
5
Enbridge
ENB
$110B
| $673M | 4.54% |
15,243,552
+200,425
| +1% | +$8.4M |
2013 Q2
13 quarters
|
|
6
Canadian Natural Resources
CNQ
$116B
| $594M | 4.01% |
38,031,950
-12,526,992
| -25% | -$191M |
2013 Q2
13 quarters
|
|
7
Open Text
OTEX
$6.44B
| $558M | 3.76% |
17,262,246
+219,046
| +1% | +$6.84M |
2013 Q2
13 quarters
|
|
8
Manulife Financial
MFC
$73.8B
| $487M | 3.29% |
34,603,236
+394,103
| +1% | +$5.36M |
2013 Q2
13 quarters
|
|
|
9
Suncor Energy
SU
$92.9B
| $449M | 3.03% |
+16,196,143
| New | +$442M |
2016 Q3
0 quarters
|
|
|
10
Thomson Reuters
TRI
$51.2B
| $391M | 2.64% |
+8,170,289
| New | +$396M |
2016 Q3
0 quarters
|
|
11
Cenovus Energy
CVE
$60.4B
| $361M | 2.44% |
25,220,593
+315,758
| +1% | +$4.51M |
2013 Q2
13 quarters
|
|
12
Gildan
GIL
$7.35B
| $337M | 2.27% |
12,100,072
+295,161
| +3% | +$8.72M |
2015 Q1
6 quarters
|
|
|
POT
13
DELISTED
Potash Corp Of Saskatchewan
POT
| $304M | 2.05% |
18,719,046
+2,964,332
| +19% | +$49M |
2013 Q2
13 quarters
|
|
14
Pembina Pipeline
PBA
$29.9B
| $274M | 1.85% |
9,006,428
+151,936
| +2% | +$4.57M |
2013 Q3
12 quarters
|
|
15
CGI
GIB
$16.7B
| $265M | 1.79% |
5,571,697
+31,101
| +0.6% | +$1.47M |
2014 Q4
7 quarters
|
|
16
Vermilion Energy
VET
$2.09B
| $249M | 1.68% |
+6,435,663
| New | +$226M |
2016 Q3
0 quarters
|
|
|
17
Stantec
STN
$8.13B
| $243M | 1.64% |
+10,372,670
| New | +$249M |
2016 Q3
0 quarters
|
|
18
Johnson & Johnson
JNJ
$658B
| $201M | 1.35% |
1,698,931
-39,927
| -2% | -$4.84M |
2013 Q2
13 quarters
|
|
19
Procter & Gamble
PG
$374B
| $190M | 1.28% |
2,119,002
-64,425
| -3% | -$5.6M |
2013 Q2
13 quarters
|
|
20
PepsiCo
PEP
$187B
| $187M | 1.26% |
1,714,699
-38,335
| -2% | -$4.13M |
2013 Q2
13 quarters
|
|
21
CAE Inc
CAE
$8.3B
| $184M | 1.24% |
13,008,462
+125,445
| +1% | +$1.71M |
2013 Q2
13 quarters
|
|
22
DELISTED
Walgreens Boots Alliance
WBA
| $180M | 1.21% |
+2,229,124
| New | +$182M |
2016 Q3
0 quarters
|
|
23
Colgate-Palmolive
CL
$76B
| $170M | 1.15% |
2,292,451
-64,773
| -3% | -$4.79M |
2013 Q2
13 quarters
|
|
24
JPMorgan Chase
JPM
$895B
| $161M | 1.08% |
2,412,935
-47,208
| -2% | -$3.08M |
2013 Q2
13 quarters
|
|
25
DELISTED
Veren
VRN
| $157M | 1.06% |
11,936,337
+4,014,325
| +51% | +$59.9M |
2016 Q1
2 quarters
|
|
Similar funds
Jarislowsky, Fraser Ltd's Q3 2016 Portfolio in Review
As of Q3 2016, Jarislowsky, Fraser Ltd held 140 positions worth $14.8B, up 3.1% from $14.4B the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Jarislowsky, Fraser Ltd withdrew a net $1.97B in Q3 2016, closing 2 positions and reducing 73 holdings. Its most notable exit was America Movil, an estimated $19.2M position sold in full.
By sector, the portfolio is most concentrated in Financials at 30% of assets, up from 20% a quarter earlier, followed by Energy and Industrials.
Against the trend, Jarislowsky, Fraser Ltd opened a new position in Toronto Dominion Bank worth $1.15B.
- Jarislowsky, Fraser Ltd's largest Q3 2016 buy was Toronto Dominion Bank: 25,967,864 shares worth $1.15B.
- Jarislowsky, Fraser Ltd added most to IBM in Q3 2016, an estimated $66.6M increase.
- Jarislowsky, Fraser Ltd's biggest Q3 2016 reduction was Becton Dickinson, cutting an estimated $1.67B.
- Jarislowsky, Fraser Ltd fully exited America Movil in Q3 2016, selling an estimated $19.2M.
- Jarislowsky, Fraser Ltd's ten largest holdings make up 47% of its $14.8B portfolio in Q3 2016.
- Jarislowsky, Fraser Ltd opened 38 new positions and closed 2 in Q3 2016.
- Jarislowsky, Fraser Ltd's portfolio value rose 3.1% quarter-over-quarter to $14.8B.
Based on Jarislowsky, Fraser Ltd's 13F filing for Q3 2016, filed 14 Nov 2016.