SEC 13F Intelligence

Managers / Q4 2023 · view latest →

JARISLOWSKY, FRASER Ltd

CIK 0001123778 · 1010 SHERBROOKE STREET WEST, 20TH FLOOR, MONTREAL, A8, H3A 2R7 · 5148422727

Reported Value
$17M
Q4 2023
Positions
221
Filings on Record
34
2019–present window
Filed
Feb 12, 2024
original filing

Summary

Jarislowsky, Fraser Ltd reported $17M in U.S.-listed holdings across 221 positions for Q4 2023.

Its largest position, CNR, represents 6.6% of the portfolio.

Compared with Q3 2023, the fund opened 37 new positions and exited 4.

Portfolio Metrics

Turnover
+0.8%
vs prior filed quarter
Top-10 Concentration
+39.6%
share of reported value
Largest Position
+6.6%
Canadian National Railway Company
New / Exited
37 / 4
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $14.5BQ4 ’18Q1 ’19: $16.0BQ2 ’19: $16.5BQ3 ’19: $17.8BQ4 ’19: $18.9BQ4 ’19Q1 ’20: $13.7BQ2 ’20: $16.0BQ3 ’20: $17.0BQ4 ’20: $19.6BQ4 ’20Q1 ’21: $20.3BQ2 ’21: $21.4BQ3 ’21: $20.5BQ4 ’21: $21.5BQ4 ’21Q1 ’22: $18.8BQ2 ’22: $15.7BQ3 ’22: $14.4BQ1 ’23: $16MQ1 ’23Q2 ’23: $17MQ3 ’23: $15MQ4 ’23: $17MQ1 ’24: $17MQ1 ’24Q3 ’24: $17.9BQ4 ’24: $17.1BQ1 ’25: $16.0BQ2 ’25: $17.5BQ2 ’25Q3 ’25: $18.2Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 94.5%Other: 2.8%ADR: 2.2%ETP: 0.5%REIT: 0.0%
  • Common Stock · 94.5% · $16M
  • Other · 2.8% · $467,911
  • ADR · 2.2% · $377,361
  • ETP · 0.5% · $85,670
  • REIT · 0.0% · $2,081

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
Vanguard Total Stock Market ETFNEW+247.9K247.9K+$58,806$58,806
ADSKAutodesk IncNEW+234.7K234.7K+$57,146$57,146
VLTOVeralto CorpNEW+20.2K20.2K+$1,660$1,660
WCNWaste Connections Inc.NEW+10.3K10.3K+$1,542$1,542
TECK/BTeck Resources Limited - BNEW+28.6K28.6K+$1,213$1,213
TMOThermo Fisher Scientific IncNEW+2.1K2.1K+$1,102$1,102
TE Connectivity Ltd.NEW+6.8K6.8K+$955$955
CRMSalesforce Inc.NEW+3.6K3.6K+$947$947

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2023

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CNRCanadian National Railway Companyhistory →Common Stock6.55%$1M8.82M
2BNBrookfield Corphistory →Common Stock5.33%$907,06622.50M
3OTXOpen Text Corporationhistory →Common Stock3.82%$650,03715.39M
4BNSBank of Nova Scotiahistory →Common Stock3.79%$643,90013.16M
5TRI4EURThomson Reuters Corphistory →Common Stock3.72%$632,2704.30M
6MSFTMicrosoft Corporationhistory →Common Stock3.68%$625,5711.66M
7GIB/ACGI Inc.history →Common Stock3.38%$575,6435.35M
8QSRRestaurant Brands International Inc.history →Common Stock3.25%$552,9027.04M
9STNStantec Inchistory →Common Stock3.06%$520,9146.46M
10TRPTC Energy Corp.history →Common Stock3.04%$516,83213.17M
11MFCManulife Financial Corporationhistory →Common Stock2.70%$459,99620.72M
12MGAMagna International Inc - Ahistory →Common Stock2.43%$413,6416.97M
13GILGildan Activewear Inc.history →Common Stock2.32%$394,88811.88M
14FNVFranco Nevada Corporationhistory →Common Stock2.25%$383,4363.44M
15SHOPShopify Inc. Class - Ahistory →Common Stock2.24%$380,1084.86M
16CAECAE Inc.history →Common Stock2.21%$375,98217.33M
17DSGDescartes Systems Group Inchistory →Common Stock2.15%$366,0274.34M
18AMZNAmazon.Com Inchistory →Common Stock2.09%$355,9182.34M
19UNHUnitedHealth Group Incorporatedhistory →Common Stock2.02%$343,895653.2K
20MAMastercard Inc - Ahistory →Common Stock1.72%$293,347687.8K
21CIGIEURColliers International Group Inchistory →Common Stock1.72%$292,0192.30M
22GOOGLAlphabet Inc - Ahistory →Common Stock1.41%$239,8141.72M
23FISVFiserv Inc.history →Common Stock1.40%$238,5861.80M
24ABTAbbott Laboratorieshistory →Common Stock1.37%$233,6132.12M
25RYRoyal Bank of Canadahistory →Common Stock1.35%$229,4422.26M
26CPRTCopart Inchistory →Common Stock1.30%$221,5864.52M
27PEPPepsiCo Inc.history →Common Stock1.27%$215,8501.27M
28GOOGAlphabet Inc - Chistory →Common Stock1.26%$214,1061.52M
29BDXBecton Dickinson and Companyhistory →Common Stock1.24%$210,854864.8K
30JPMJPMorgan Chase & Co.history →Common Stock1.15%$194,8601.15M
31IQVIQVIA Holdings Inchistory →Common Stock1.07%$182,534788.9K
32ORCLOracle Corporationhistory →Common Stock1.05%$179,2931.70M
33BSXBoston Scientific Corporationhistory →Common Stock1.03%$175,0613.03M
34Accenture PlcCommon Stock1.03%$174,732497.9K
35Chubb LimitedCommon Stock0.91%$154,277682.6K
36IBKRInteractive Brokers Group IncCommon Stock0.88%$150,1981.81M
37SHWThe Sherwin-Williams CompanyCommon Stock0.78%$132,659425.3K
38DHRDanaher CorporationCommon Stock0.78%$132,524572.9K
39TDToronto-Dominion BankCommon Stock0.73%$124,4961.92M
40AMEAMETEK IncCommon Stock0.65%$109,940666.8K
41JNJJohnson & JohnsonCommon Stock0.63%$106,900682.0K
42DGEDDiageo Plc ADRADR0.62%$104,884720.1K
43HDBHDFC Bank Ltd ADRADR0.61%$103,0351.54M
44ENBEnbridge IncCommon Stock0.60%$101,3772.80M
45BKNGBooking Holdings IncCommon Stock0.58%$98,59127.8K
46TJXTJX Companies Inc.Common Stock0.58%$98,3191.05M
47BRK/BBerkshire Hathaway Inc - BCommon Stock0.57%$96,557270.7K
48PGProcter & Gamble CompanyCommon Stock0.55%$94,367644.0K
49GWREGuidewire Software IncCommon Stock0.55%$94,229864.2K
50MDLZMondelez International Inc.Common Stock0.54%$91,0161.26M

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q3 2025$18.2B192Oct 21, 202513F-HRchanges · EDGAR ↗
Q2 2025$17.5B188Jul 15, 202513F-HRchanges · EDGAR ↗
Q1 2025$16.0B185May 12, 202513F-HRchanges · EDGAR ↗
Q4 2024$17.1B189Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$17.9B189Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024Under review185Aug 12, 202413F-HRchanges · EDGAR ↗
Q1 2024$17M196May 13, 202413F-HRchanges · EDGAR ↗
Q4 2023$17M221Feb 12, 202413F-HRchanges · EDGAR ↗
Q3 2023$15M188Nov 6, 202313F-HRchanges · EDGAR ↗
Q2 2023$17M197Jul 19, 202313F-HRchanges · EDGAR ↗
Q1 2023$16M198May 11, 202313F-HRchanges · EDGAR ↗
Q4 2022Under review206Feb 10, 202313F-HRchanges · EDGAR ↗
Q3 2022$14.4B207Nov 7, 202213F-HRchanges · EDGAR ↗
Q2 2022$15.7B205Jul 27, 202213F-HRchanges · EDGAR ↗
Q1 2022$18.8B208May 12, 202213F-HRchanges · EDGAR ↗
Q4 2021$21.5B218Feb 10, 202213F-HRchanges · EDGAR ↗
Q3 2021$20.5B219Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$21.4B228Aug 9, 202113F-HRchanges · EDGAR ↗
Q1 2021$20.3B216May 13, 202113F-HRchanges · EDGAR ↗
Q4 2020$19.6B219Feb 11, 202113F-HRchanges · EDGAR ↗
Q3 2020$17.0B206Nov 3, 202013F-HRchanges · EDGAR ↗
Q2 2020$16.0B210Aug 12, 202013F-HRchanges · EDGAR ↗
Q1 2020$13.7B210May 13, 202013F-HRchanges · EDGAR ↗
Q4 2019$18.9B226Feb 13, 202013F-HRchanges · EDGAR ↗
Q3 2019$17.8B226Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$16.5B223Aug 13, 201913F-HRchanges · EDGAR ↗
Q1 2019$16.0B224May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$14.5B214Feb 1, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 1 additional manager.

  • BANK OF NOVA SCOTIA028-11475

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.