JARISLOWSKY, FRASER Ltd
Institutional investor · Portfolio as of Q1 2023
Top Holdings198 positions
Stock | Shares | Value | Weight | Avg Buy | Est. P&L | Held | Conviction |
|---|---|---|---|---|---|---|---|
CANADIAN NATL RAILWAY CO | 9.6M | $1.1B | 6.9% | $71.02 | +55.00% | 18 qtrssince 2018-Q4 | Increased 62 |
THOMSON REUTERS CORP. | 5.5M | $711M | 4.4% | — | — | — | — |
BROOKFIELD CORP /CAD/ | 21.2M | $688.8M | 4.2% | $20.54 | +0.72% | 2 qtrssince 2022-Q4 | Increased 63 |
BANK OF NOVA SCOTIA | 13.4M | $675.4M | 4.2% | $36.38 | +17.82% | 18 qtrssince 2018-Q4 | Decreased 0 |
OPEN TEXT CORP | 16.8M | $647.3M | 4.0% | $29.49 | +18.07% | 18 qtrssince 2018-Q4 | Increased 58 |
CGI INC | 6.7M | $645.4M | 4.0% | $69.71 | +35.77% | 17 qtrssince 2019-Q1 | Decreased 0 |
MICROSOFT CORP | 1.9M | $563.3M | 3.5% | $101.99 | +172.69% | 18 qtrssince 2018-Q4 | Decreased 0 |
RESTAURANT BRANDS INTERN | 7.7M | $519.4M | 3.2% | $42.85 | +38.82% | 18 qtrssince 2018-Q4 | Decreased 0 |
STANTEC INC | 8.6M | $502.3M | 3.1% | $20.56 | +178.98% | 18 qtrssince 2018-Q4 | Decreased 0 |
SHOPIFY INC - CLASS A | 10.3M | $494.1M | 3.0% | $36.87 | +26.15% | 13 qtrssince 2020-Q1 | Decreased 0 |
TC ENERGY CORP | 12.4M | $481.2M | 3.0% | $34.27 | -0.66% | 16 qtrssince 2019-Q2 | Increased 82 |
FRANCO-NEVADA CORP /CAD/ | 3.1M | $455.3M | 2.8% | $131.83 | +7.87% | 9 qtrssince 2021-Q1 | Decreased 0 |
GILDAN ACTIVEWEAR INC | 13.2M | $437.4M | 2.7% | $25.50 | +21.66% | 18 qtrssince 2018-Q4 | Decreased 0 |
MANULIFE FINANCIAL CORP | 23.4M | $428.4M | 2.6% | $10.56 | +54.48% | 18 qtrssince 2018-Q4 | Decreased 0 |
MAGNA INTERNATIONAL INC | 7.7M | $411.3M | 2.5% | $38.70 | +21.94% | 12 qtrssince 2020-Q2 | Decreased 0 |
DESCARTES SYS GROUP INC | 4.7M | $377.7M | 2.3% | $31.27 | +153.42% | 18 qtrssince 2018-Q4 | Decreased 0 |
CAE INC | 14.1M | $318.6M | 2.0% | $19.09 | +17.00% | 18 qtrssince 2018-Q4 | Decreased 0 |
UNITEDHEALTH GROUP INC | 662,414 | $313.1M | 1.9% | $219.45 | +103.50% | 18 qtrssince 2018-Q4 | Increased 49 |
AMAZON.COM INC | 2.8M | $290.7M | 1.8% | $109.32 | -6.69% | 18 qtrssince 2018-Q4 | Increased 49 |
MASTERCARD INC - A | 722,860 | $262.7M | 1.6% | $223.32 | +58.09% | 18 qtrssince 2018-Q4 | Decreased 0 |
JARISLOWSKY, FRASER Ltd manages $16.2B across 198 positions as of Q1 2023. Top holdings: CNI (6.9%), TRI (4.4%), BN (4.2%). Fund DNA: Steady Compounder. HoldingsIntel Rating: 1/5.0.
Active quarter - 4 new positions, 12 exits, 39 increased. Top move: TRP (INCREASED, conviction 82). Portfolio: $16.2B across 198 positions.
Top holdings by portfolio weight
Portfolio allocation by GICS sector
Behavioral investing profile
Last filed Q3 2025 - no longer filing.
Position Outcomes
Best and worst performing positions by estimated return
Top Winners
Top Losers
Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.
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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer