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 |
POT
Potash Corp Of Saskatchewan
POT
|
+$144M |
| 2 |
CGI
GIB
|
+$70.1M |
| 3 |
Cognizant
CTSH
|
+$22M |
| 4 |
Scotiabank
BNS
|
+$10.8M |
| 5 |
Enbridge
ENB
|
+$10.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cameco
CCJ
|
+$131M |
| 2 |
Cenovus Energy
CVE
|
+$100M |
| 3 |
IBM
IBM
|
+$32.1M |
| 4 |
MetLife
MET
|
+$14.5M |
| 5 |
BorgWarner
BWA
|
+$9.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 33.32% |
| 2 | Energy | 17.95% |
| 3 | Industrials | 13.55% |
| 4 | Technology | 10.63% |
| 5 | Healthcare | 8.55% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Toronto Dominion Bank
TD
$203B
| $1.43B | 8.6% |
25,541,085
+142,815
| +0.6% | +$7.5M |
2016 Q3
4 quarters
|
|
2
Royal Bank of Canada
RY
$281B
| $1.27B | 7.61% |
16,449,799
+132,595
| +0.8% | +$9.9M |
2016 Q3
4 quarters
|
|
|
3
Scotiabank
BNS
$113B
| $1.08B | 6.47% |
16,829,361
+173,233
| +1% | +$10.8M |
2013 Q2
17 quarters
|
|
|
4
Enbridge
ENB
$107B
| $937M | 5.62% |
22,487,721
+254,158
| +1% | +$10.3M |
2013 Q2
17 quarters
|
|
5
Canadian National Railway
CNI
$76B
| $848M | 5.08% |
10,255,502
+25,974
| +0.3% | +$2.11M |
2013 Q2
17 quarters
|
|
6
Canadian Natural Resources
CNQ
$98.4B
| $714M | 4.28% |
43,631,363
+12,599
| +0% | +$193K |
2013 Q2
17 quarters
|
|
7
Manulife Financial
MFC
$73.3B
| $696M | 4.17% |
34,376,766
+93,166
| +0.3% | +$1.85M |
2013 Q2
17 quarters
|
|
8
Open Text
OTEX
$5.91B
| $555M | 3.33% |
17,239,220
+130,669
| +0.8% | +$4.23M |
2013 Q2
17 quarters
|
|
|
POT
9
DELISTED
Potash Corp Of Saskatchewan
POT
| $519M | 3.11% |
26,998,779
+8,052,975
| +43% | +$144M |
2013 Q2
17 quarters
|
|
10
Gildan
GIL
$6.56B
| $458M | 2.75% |
14,697,198
-43,577
| -0.3% | -$1.33M |
2015 Q1
10 quarters
|
|
11
Pembina Pipeline
PBA
$28.6B
| $433M | 2.6% |
12,372,878
+91,095
| +0.7% | +$3.04M |
2013 Q3
16 quarters
|
|
|
12
CGI
GIB
$17.1B
| $428M | 2.57% |
8,278,011
+1,366,578
| +20% | +$70.1M |
2014 Q4
11 quarters
|
|
13
Thomson Reuters
TRI
$46.9B
| $423M | 2.54% |
7,964,946
-6,138
| -0.1% | -$328K |
2016 Q3
4 quarters
|
|
14
Stantec
STN
$8.55B
| $285M | 1.71% |
10,288,339
+23,994
| +0.2% | +$637K |
2016 Q3
4 quarters
|
|
15
JPMorgan Chase
JPM
$913B
| $247M | 1.48% |
2,583,933
+37,425
| +1% | +$3.45M |
2013 Q2
17 quarters
|
|
16
Vermilion Energy
VET
$1.56B
| $224M | 1.34% |
6,327,338
+11,451
| +0.2% | +$376K |
2016 Q3
4 quarters
|
|
17
CAE Inc
CAE
$8.9B
| $218M | 1.3% |
12,473,196
+19,963
| +0.2% | +$337K |
2013 Q2
17 quarters
|
|
18
Johnson & Johnson
JNJ
$674B
| $208M | 1.25% |
1,603,600
-2,242
| -0.1% | -$297K |
2013 Q2
17 quarters
|
|
19
Microsoft
MSFT
$3.97T
| $193M | 1.16% |
2,592,877
+33,893
| +1% | +$2.48M |
2013 Q2
17 quarters
|
|
20
PepsiCo
PEP
$195B
| $184M | 1.11% |
1,654,730
-9,533
| -0.6% | -$1.1M |
2013 Q2
17 quarters
|
|
21
Wells Fargo
WFC
$258B
| $178M | 1.07% |
3,227,189
+8,234
| +0.3% | +$438K |
2016 Q3
4 quarters
|
|
22
DELISTED
Walgreens Boots Alliance
WBA
| $169M | 1.01% |
2,187,181
-2,093
| -0.1% | -$168K |
2016 Q3
4 quarters
|
|
23
Oracle
ORCL
$365B
| $168M | 1.01% |
3,475,340
+3,860
| +0.1% | +$192K |
2013 Q2
17 quarters
|
|
24
Becton Dickinson
BDX
$58.4B
| $167M | 1% |
873,459
-6,305
| -0.7% | -$1.22M |
2013 Q2
17 quarters
|
|
25
Procter & Gamble
PG
$392B
| $165M | 0.99% |
1,813,867
+41,543
| +2% | +$3.78M |
2013 Q2
17 quarters
|
|
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Jarislowsky, Fraser Ltd's Q3 2017 Portfolio in Review
As of Q3 2017, Jarislowsky, Fraser Ltd held 230 positions worth $16.7B, up 5.6% from $15.8B the previous quarter. Its ten largest holdings account for 51% of the portfolio.
Jarislowsky, Fraser Ltd's Q3 2017 filing shows 26 new, 88 increased, 83 reduced and 4 closed positions. Its largest new stake was Cognizant: 313,737 shares worth $22.8M. The largest sale was Cameco, an estimated $131M.
By sector, the portfolio is most concentrated in Financials at 33% of assets, up from 33% a quarter earlier, followed by Energy and Industrials.
- Jarislowsky, Fraser Ltd's largest Q3 2017 buy was Cognizant: 313,737 shares worth $22.8M.
- Jarislowsky, Fraser Ltd added most to Potash Corp Of Saskatchewan in Q3 2017, an estimated $144M increase.
- Jarislowsky, Fraser Ltd's biggest Q3 2017 reduction was Cameco, cutting an estimated $131M.
- Jarislowsky, Fraser Ltd fully exited Luxottica Group in Q3 2017, selling an estimated $5.7M.
- Jarislowsky, Fraser Ltd's ten largest holdings make up 51% of its $16.7B portfolio in Q3 2017.
- Jarislowsky, Fraser Ltd opened 26 new positions and closed 4 in Q3 2017.
- Jarislowsky, Fraser Ltd's portfolio value rose 5.6% quarter-over-quarter to $16.7B.
Based on Jarislowsky, Fraser Ltd's 13F filing for Q3 2017, filed 6 Nov 2017.