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
|
+$102M |
| 2 |
CGI
GIB
|
+$63.7M |
| 3 |
Pembina Pipeline
PBA
|
+$36.2M |
| 4 |
Berkshire Hathaway Class B
BRK.B
|
+$19M |
| 5 |
NLSN
Nielsen Holdings plc
NLSN
|
+$9.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cenovus Energy
CVE
|
+$105M |
| 2 |
BorgWarner
BWA
|
+$40.2M |
| 3 |
BHP
BHP
|
+$21.8M |
| 4 |
HSBC
HSBC
|
+$15.5M |
| 5 |
IBM
IBM
|
+$14.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 32.55% |
| 2 | Energy | 18.71% |
| 3 | Industrials | 14.01% |
| 4 | Technology | 10.53% |
| 5 | Healthcare | 8.93% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Toronto Dominion Bank
TD
$203B
| $1.28B | 8.09% |
25,398,270
-186,403
| -0.7% | -$8.99M |
2016 Q3
3 quarters
|
|
2
Royal Bank of Canada
RY
$281B
| $1.18B | 7.49% |
16,317,204
-165,788
| -1% | -$11.6M |
2016 Q3
3 quarters
|
|
3
Scotiabank
BNS
$114B
| $1B | 6.33% |
16,656,128
-106,930
| -0.6% | -$6.13M |
2013 Q2
16 quarters
|
|
|
4
Enbridge
ENB
$110B
| $884M | 5.6% |
22,233,563
+2,535,941
| +13% | +$102M |
2013 Q2
16 quarters
|
|
5
Canadian National Railway
CNI
$74.7B
| $829M | 5.25% |
10,229,528
-102,912
| -1% | -$7.85M |
2013 Q2
16 quarters
|
|
6
Manulife Financial
MFC
$73.8B
| $642M | 4.06% |
34,283,600
-136,833
| -0.4% | -$2.41M |
2013 Q2
16 quarters
|
|
7
Canadian Natural Resources
CNQ
$116B
| $615M | 3.9% |
43,618,764
-485,299
| -1% | -$7.3M |
2013 Q2
16 quarters
|
|
8
Open Text
OTEX
$6.44B
| $539M | 3.41% |
17,108,551
-40,505
| -0.2% | -$1.34M |
2013 Q2
16 quarters
|
|
9
Gildan
GIL
$7.35B
| $452M | 2.86% |
14,740,775
-137,921
| -0.9% | -$3.97M |
2015 Q1
9 quarters
|
|
10
Thomson Reuters
TRI
$51.2B
| $428M | 2.71% |
7,971,084
-83,236
| -1% | -$4.27M |
2016 Q3
3 quarters
|
|
|
11
Pembina Pipeline
PBA
$29.9B
| $406M | 2.57% |
12,281,783
+1,118,498
| +10% | +$36.2M |
2013 Q3
15 quarters
|
|
|
12
CGI
GIB
$16.7B
| $353M | 2.23% |
6,911,433
+1,304,144
| +23% | +$63.7M |
2014 Q4
10 quarters
|
|
|
POT
13
DELISTED
Potash Corp Of Saskatchewan
POT
| $309M | 1.95% |
18,945,804
+254,401
| +1% | +$4.21M |
2013 Q2
16 quarters
|
|
14
Stantec
STN
$8.13B
| $258M | 1.63% |
10,264,345
-18,386
| -0.2% | -$452K |
2016 Q3
3 quarters
|
|
15
JPMorgan Chase
JPM
$895B
| $233M | 1.47% |
2,546,508
+65,104
| +3% | +$5.62M |
2013 Q2
16 quarters
|
|
16
CAE Inc
CAE
$8.3B
| $214M | 1.36% |
12,453,233
-413,115
| -3% | -$6.59M |
2013 Q2
16 quarters
|
|
17
Johnson & Johnson
JNJ
$658B
| $212M | 1.34% |
1,605,842
-13,379
| -0.8% | -$1.71M |
2013 Q2
16 quarters
|
|
18
Vermilion Energy
VET
$2.09B
| $200M | 1.27% |
6,315,887
-80,252
| -1% | -$2.76M |
2016 Q3
3 quarters
|
|
19
PepsiCo
PEP
$187B
| $192M | 1.22% |
1,664,263
-33,459
| -2% | -$3.84M |
2013 Q2
16 quarters
|
|
20
Wells Fargo
WFC
$250B
| $178M | 1.13% |
3,218,955
+182,916
| +6% | +$9.8M |
2016 Q3
3 quarters
|
|
21
Microsoft
MSFT
$3.88T
| $176M | 1.12% |
2,558,984
-4,467
| -0.2% | -$307K |
2013 Q2
16 quarters
|
|
22
Oracle
ORCL
$396B
| $174M | 1.1% |
3,471,480
+27,171
| +0.8% | +$1.24M |
2013 Q2
16 quarters
|
|
23
DELISTED
Walgreens Boots Alliance
WBA
| $171M | 1.09% |
2,189,274
-22,552
| -1% | -$1.86M |
2016 Q3
3 quarters
|
|
24
Becton Dickinson
BDX
$53.9B
| $167M | 1.06% |
879,764
-18,866
| -2% | -$3.45M |
2013 Q2
16 quarters
|
|
25
Colgate-Palmolive
CL
$76B
| $161M | 1.02% |
2,172,473
-37,844
| -2% | -$2.81M |
2013 Q2
16 quarters
|
|
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Jarislowsky, Fraser Ltd's Q2 2017 Portfolio in Review
As of Q2 2017, Jarislowsky, Fraser Ltd held 207 positions worth $15.8B, up 0.03% from $15.8B the previous quarter. Its ten largest holdings account for 50% of the portfolio.
Jarislowsky, Fraser Ltd's Q2 2017 filing shows 8 new, 53 increased, 110 reduced and 3 closed positions. Its largest new stake was ASML: 2,457 shares worth $320K. The largest sale was Cenovus Energy, an estimated $105M.
By sector, the portfolio is most concentrated in Financials at 33% of assets, up from 32% a quarter earlier, followed by Energy and Industrials.
- Jarislowsky, Fraser Ltd's largest Q2 2017 buy was ASML: 2,457 shares worth $320K.
- Jarislowsky, Fraser Ltd added most to Enbridge in Q2 2017, an estimated $102M increase.
- Jarislowsky, Fraser Ltd's biggest Q2 2017 reduction was Cenovus Energy, cutting an estimated $105M.
- Jarislowsky, Fraser Ltd fully exited PayPal in Q2 2017, selling an estimated $233K.
- Jarislowsky, Fraser Ltd's ten largest holdings make up 50% of its $15.8B portfolio in Q2 2017.
- Jarislowsky, Fraser Ltd opened 8 new positions and closed 3 in Q2 2017.
- Jarislowsky, Fraser Ltd's portfolio value rose 0.03% quarter-over-quarter to $15.8B.
Based on Jarislowsky, Fraser Ltd's 13F filing for Q2 2017, filed 18 Jul 2017.