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 |
Enbridge
ENB
|
+$125M |
| 2 |
Canadian Natural Resources
CNQ
|
+$96.1M |
| 3 |
IQVIA
IQV
|
+$71.2M |
| 4 |
Gildan
GIL
|
+$64.9M |
| 5 |
Pembina Pipeline
PBA
|
+$35.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Suncor Energy
SU
|
+$404M |
| 2 |
IMS
IMS HEALTH HLDGS INC COM STK (DE)
IMS
|
+$84.9M |
| 3 |
Procter & Gamble
PG
|
+$14.7M |
| 4 |
Dollar Tree
DLTR
|
+$12.3M |
| 5 |
Lincoln National
LNC
|
+$11.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 32.08% |
| 2 | Energy | 21.87% |
| 3 | Industrials | 13.01% |
| 4 | Technology | 9.68% |
| 5 | Healthcare | 8.42% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Toronto Dominion Bank
TD
$203B
| $1.29B | 8.24% |
26,090,703
+122,839
| +0.5% | +$5.74M |
2016 Q3
1 quarter
|
|
2
Royal Bank of Canada
RY
$283B
| $1.14B | 7.29% |
16,814,046
+128,191
| +0.8% | +$8.31M |
2016 Q3
1 quarter
|
|
3
Scotiabank
BNS
$114B
| $947M | 6.06% |
16,978,513
+49,481
| +0.3% | +$2.7M |
2013 Q2
14 quarters
|
|
|
4
Enbridge
ENB
$106B
| $766M | 4.9% |
18,177,461
+2,933,909
| +19% | +$125M |
2013 Q2
14 quarters
|
|
5
Canadian National Railway
CNI
$76.3B
| $710M | 4.55% |
10,543,246
-82,954
| -0.8% | -$5.48M |
2013 Q2
14 quarters
|
|
|
6
Canadian Natural Resources
CNQ
$97.8B
| $689M | 4.41% |
44,097,004
+6,065,054
| +16% | +$96.1M |
2013 Q2
14 quarters
|
|
7
Manulife Financial
MFC
$73B
| $623M | 3.99% |
34,936,961
+333,725
| +1% | +$5.44M |
2013 Q2
14 quarters
|
|
8
Open Text
OTEX
$6.02B
| $537M | 3.44% |
17,383,512
+121,266
| +0.7% | +$3.78M |
2013 Q2
14 quarters
|
|
9
Thomson Reuters
TRI
$46.9B
| $416M | 2.66% |
8,183,327
+13,038
| +0.2% | +$636K |
2016 Q3
1 quarter
|
|
10
Cenovus Energy
CVE
$49.9B
| $383M | 2.45% |
25,300,061
+79,468
| +0.3% | +$1.2M |
2013 Q2
14 quarters
|
|
|
11
Gildan
GIL
$6.76B
| $370M | 2.36% |
14,536,359
+2,436,287
| +20% | +$64.9M |
2015 Q1
7 quarters
|
|
|
POT
12
DELISTED
Potash Corp Of Saskatchewan
POT
| $342M | 2.19% |
18,904,017
+184,971
| +1% | +$3.21M |
2013 Q2
14 quarters
|
|
|
13
Pembina Pipeline
PBA
$28.3B
| $318M | 2.04% |
10,171,877
+1,165,449
| +13% | +$35.2M |
2013 Q3
13 quarters
|
|
14
Vermilion Energy
VET
$1.55B
| $274M | 1.75% |
6,494,350
+58,687
| +0.9% | +$2.4M |
2016 Q3
1 quarter
|
|
15
CGI
GIB
$17.1B
| $272M | 1.74% |
5,652,437
+80,740
| +1% | +$3.84M |
2014 Q4
8 quarters
|
|
16
Stantec
STN
$8.58B
| $265M | 1.7% |
10,477,665
+104,995
| +1% | +$2.59M |
2016 Q3
1 quarter
|
|
17
JPMorgan Chase
JPM
$908B
| $218M | 1.4% |
2,530,908
+117,973
| +5% | +$9M |
2013 Q2
14 quarters
|
|
18
Johnson & Johnson
JNJ
$679B
| $194M | 1.24% |
1,680,442
-18,489
| -1% | -$2.14M |
2013 Q2
14 quarters
|
|
19
DELISTED
Walgreens Boots Alliance
WBA
| $186M | 1.19% |
2,244,953
+15,829
| +0.7% | +$1.31M |
2016 Q3
1 quarter
|
|
20
CAE Inc
CAE
$8.86B
| $184M | 1.18% |
13,127,918
+119,456
| +0.9% | +$1.71M |
2013 Q2
14 quarters
|
|
21
PepsiCo
PEP
$193B
| $181M | 1.16% |
1,732,323
+17,624
| +1% | +$1.85M |
2013 Q2
14 quarters
|
|
22
DELISTED
Veren
VRN
| $177M | 1.14% |
13,040,898
+1,104,561
| +9% | +$14.2M |
2016 Q1
3 quarters
|
|
23
Cameco
CCJ
$32.8B
| $170M | 1.09% |
16,270,077
-255,342
| -2% | -$2.31M |
2013 Q2
14 quarters
|
|
24
Wells Fargo
WFC
$257B
| $168M | 1.08% |
3,048,690
+7,446
| +0.2% | +$374K |
2016 Q3
1 quarter
|
|
|
25
Procter & Gamble
PG
$390B
| $164M | 1.05% |
1,946,344
-172,658
| -8% | -$14.7M |
2013 Q2
14 quarters
|
|
Similar funds
Jarislowsky, Fraser Ltd's Q4 2016 Portfolio in Review
As of Q4 2016, Jarislowsky, Fraser Ltd held 198 positions worth $15.6B, up 5.4% from $14.8B the previous quarter. Its ten largest holdings account for 48% of the portfolio.
Jarislowsky, Fraser Ltd's Q4 2016 filing shows 60 new, 66 increased, 69 reduced and 1 closed positions. Its largest new stake was IQVIA: 927,951 shares worth $70.6M. The largest sale was Suncor Energy, an estimated $404M.
By sector, the portfolio is most concentrated in Financials at 32% of assets, up from 30% a quarter earlier, followed by Energy and Industrials.
- Jarislowsky, Fraser Ltd's largest Q4 2016 buy was IQVIA: 927,951 shares worth $70.6M.
- Jarislowsky, Fraser Ltd added most to Enbridge in Q4 2016, an estimated $125M increase.
- Jarislowsky, Fraser Ltd's biggest Q4 2016 reduction was Suncor Energy, cutting an estimated $404M.
- Jarislowsky, Fraser Ltd fully exited IMS HEALTH HLDGS INC COM STK (DE) in Q4 2016, selling an estimated $84.9M.
- Jarislowsky, Fraser Ltd's ten largest holdings make up 48% of its $15.6B portfolio in Q4 2016.
- Jarislowsky, Fraser Ltd opened 60 new positions and closed 1 in Q4 2016.
- Jarislowsky, Fraser Ltd's portfolio value rose 5.4% quarter-over-quarter to $15.6B.
Based on Jarislowsky, Fraser Ltd's 13F filing for Q4 2016, filed 15 Feb 2017.