13F HOLDINGS REPORT
Jarislowsky, Fraser Ltd
Quarter ended Q1 2025 · Filed May 12, 2025 · Accession 0001123778-25-000002
Total Value
$15.96B
Positions
185
Other Managers
1
Confidential Omitted
No
Holdings (185)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | Canadian National Railway Company | 136375102 | 9,216,459 | $896.8M | 5.62% |
| 2 | Brookfield Corp | 11271J107 | 15,845,435 | $829.1M | 5.20% |
| 3 | Toronto-Dominion Bank | TORO | 12,127,589 | $726.6M | 4.55% |
| 4 | Bank of Montreal | 063671101 | 6,549,559 | $625.4M | 3.92% |
| 5 | CAE Inc. | CAE | 23,187,828 | $570.0M | 3.57% |
| 6 | Thomson Reuters Corp | TMSOF | 3,266,594 | $563.6M | 3.53% |
| 7 | TC Energy Corp. | TRPRF | 11,500,319 | $543.0M | 3.40% |
| 8 | Microsoft Corporation | MSFT | 1,443,983 | $542.1M | 3.40% |
| 9 | Open Text Corporation | OTEX | 20,626,538 | $520.5M | 3.26% |
| 10 | Stantec Inc | STN | 5,640,466 | $467.5M | 2.93% |
| 11 | Franco Nevada Corporation | FNV | 2,864,793 | $450.5M | 2.82% |
| 12 | CGI Inc. | GIB | 4,263,945 | $425.6M | 2.67% |
| 13 | Restaurant Brands International Inc. | 76131D103 | 6,225,039 | $414.9M | 2.60% |
| 14 | Shopify Inc. Class - A | SHOP | 3,999,810 | $380.5M | 2.38% |
| 15 | Amazon.Com Inc | AMZN | 1,966,455 | $374.1M | 2.34% |
| 16 | UnitedHealth Group Incorporated | UNH | 595,533 | $311.9M | 1.95% |
| 17 | Mastercard Inc - A | MA | 568,326 | $311.5M | 1.95% |
| 18 | Gildan Activewear Inc. | GIL | 6,963,062 | $307.8M | 1.93% |
| 19 | Abbott Laboratories | ABLZF | 2,169,717 | $287.8M | 1.80% |
| 20 | Fiserv Inc. | FISV | 1,228,210 | $271.2M | 1.70% |
| 21 | Descartes Systems Group Inc | 249906108 | 2,649,759 | $266.7M | 1.67% |
| 22 | Colliers International Group Inc | 194693107 | 2,002,583 | $242.3M | 1.52% |
| 23 | JPMorgan Chase & Co. | VYLD | 946,315 | $232.1M | 1.45% |
| 24 | Boston Scientific Corporation | BSX | 2,271,539 | $229.2M | 1.44% |
| 25 | Royal Bank of Canada | 780087102 | 1,997,039 | $224.9M | 1.41% |
| 26 | Copart Inc | CPRT | 3,781,000 | $214.0M | 1.34% |
| 27 | PepsiCo Inc. | PEP | 1,299,004 | $194.8M | 1.22% |
| 28 | Oracle Corporation | ORCL-PD | 1,359,011 | $190.0M | 1.19% |
| 29 | Becton Dickinson and Company | BDX | 825,613 | $189.1M | 1.19% |
| 30 | Alphabet Inc - A | GOOG | 1,207,355 | $186.7M | 1.17% |
| 31 | Alphabet Inc - C | GOOG | 1,159,336 | $181.1M | 1.14% |
| 32 | Interactive Brokers Group Inc | 45841N107 | 1,068,672 | $177.0M | 1.11% |
| 33 | TFI International Inc. | 87241L109 | 2,172,019 | $168.1M | 1.05% |
| 34 | Accenture Plc | ACN | 537,486 | $167.7M | 1.05% |
| 35 | IQVIA Holdings Inc | IQV | 708,480 | $124.9M | 0.78% |
| 36 | The Sherwin-Williams Company | SHW | 355,922 | $124.3M | 0.78% |
| 37 | Berkshire Hathaway Inc - B | BRK-A | 231,154 | $123.1M | 0.77% |
| 38 | HDFC Bank Ltd ADR | HDB | 1,768,877 | $117.5M | 0.74% |
| 39 | Danaher Corporation | 235851102 | 561,918 | $115.2M | 0.72% |
| 40 | TJX Companies Inc. | 872540109 | 891,802 | $108.6M | 0.68% |
| 41 | Autodesk Inc | ADSK | 413,038 | $108.1M | 0.68% |
| 42 | Manulife Financial Corporation | 56501R106 | 3,444,720 | $107.3M | 0.67% |
| 43 | AMETEK Inc | AME | 623,309 | $107.3M | 0.67% |
| 44 | Meta Platforms Inc | META | 175,985 | $101.4M | 0.64% |
| 45 | Mondelez International Inc. | 609207105 | 1,412,490 | $95.8M | 0.60% |
| 46 | Bank of Nova Scotia | 064149107 | 1,973,640 | $93.6M | 0.59% |
| 47 | Chubb Limited | CB | 290,438 | $87.7M | 0.55% |
| 48 | Guidewire Software Inc | GWRE | 451,560 | $84.6M | 0.53% |
| 49 | Taiwan Semiconductor Manufactng ADR | 874039100 | 502,410 | $83.4M | 0.52% |
| 50 | Johnson & Johnson | JNJ | 478,573 | $79.4M | 0.50% |
| 51 | Bank OZK | OZKAP | 1,799,390 | $78.2M | 0.49% |
| 52 | Enbridge Inc | ENNPF | 1,753,081 | $77.6M | 0.49% |
| 53 | Cadence Design Systems Inc | CDNS | 296,137 | $75.3M | 0.47% |
| 54 | Broadcom Inc | AVGO | 439,542 | $73.6M | 0.46% |
| 55 | Procter & Gamble Company | 742718109 | 424,738 | $72.4M | 0.45% |
| 56 | Diageo Plc ADR | DGEAF | 608,843 | $63.8M | 0.40% |
| 57 | Monster Beverage Corp | MNST | 1,082,329 | $63.3M | 0.40% |
| 58 | SiteOne Landscape Supply Inc | SITE | 507,192 | $61.6M | 0.39% |
| 59 | Relx Plc ADR | RLXXF | 1,166,822 | $58.8M | 0.37% |
| 60 | CME Group Inc. | CME | 201,612 | $53.5M | 0.34% |
| 61 | American Financial Group Inc/OH | 025932104 | 368,823 | $48.4M | 0.30% |
| 62 | CyberArk Software Ltd ADR | M2682V108 | 142,749 | $48.2M | 0.30% |
| 63 | Costco Wholesale Corporation | 22160K105 | 47,404 | $44.8M | 0.28% |
| 64 | Public Service Enterprises Group | 744573106 | 529,213 | $43.6M | 0.27% |
| 65 | Colgate-Palmolive Company | CL | 452,965 | $42.4M | 0.27% |
| 66 | ASML Holding NV-NY Reg Shs | ASMLF | 60,401 | $40.0M | 0.25% |
| 67 | Unilever Plc ADR | UNLYF | 657,459 | $39.2M | 0.25% |
| 68 | Credit Acceptance Corp. | 225310101 | 69,632 | $36.0M | 0.23% |
| 69 | SAP AG ADR | SAPGF | 121,414 | $32.6M | 0.20% |
| 70 | Verisk Analytics Inc - A | VRSK | 102,471 | $30.5M | 0.19% |
| 71 | Progressive Corp/The | 743315103 | 91,212 | $25.8M | 0.16% |
| 72 | ServisFirst Bancshares Inc | SFBS | 302,146 | $25.0M | 0.16% |
| 73 | SPDR S&P 500 ETF Trust | SPY | 44,233 | $24.7M | 0.16% |
| 74 | Axos Financial Inc | AX | 383,295 | $24.7M | 0.15% |
| 75 | Alcon Inc. | ALC | 235,401 | $22.3M | 0.14% |
| 76 | LCI Industries | 50189K103 | 229,547 | $20.1M | 0.13% |
| 77 | Automatic Data Processing Inc. | ADP | 64,409 | $19.7M | 0.12% |
| 78 | Abbvie Inc | ABBV | 92,293 | $19.3M | 0.12% |
| 79 | Pembina Pipeline Corporation | PPLOF | 454,099 | $18.2M | 0.11% |
| 80 | Eli Lilly & Company | LLY | 21,922 | $18.1M | 0.11% |
| 81 | Exxon Mobil Corporation | XOM | 146,147 | $17.4M | 0.11% |
| 82 | Zoetis Inc. | ZTS | 84,535 | $13.9M | 0.09% |
| 83 | MercadoLibre Inc | MELI | 6,109 | $11.9M | 0.07% |
| 84 | Apple Inc. | AAPL | 52,800 | $11.7M | 0.07% |
| 85 | Sea Ltd | SE | 89,783 | $11.7M | 0.07% |
| 86 | Trip.com Group Ltd - ADR | TRPCF | 171,272 | $10.9M | 0.07% |
| 87 | Triple Flag Precious Metals Corp | TFPM | 547,632 | $10.5M | 0.07% |
| 88 | Nutrien Ltd | NTR | 195,221 | $9.7M | 0.06% |
| 89 | TELUS Corp | TU | 646,809 | $9.3M | 0.06% |
| 90 | Credicorp Ltd ADR | BAP | 46,660 | $8.7M | 0.05% |
| 91 | Booking Holdings Inc | BKNG | 1,830 | $8.4M | 0.05% |
| 92 | Comcast Corp - A | CCZ | 200,236 | $7.4M | 0.05% |
| 93 | Haleon PLC | HLNCF | 705,398 | $7.3M | 0.05% |
| 94 | NU Holdings Ltd/Cayman Islands | NU | 665,211 | $6.8M | 0.04% |
| 95 | Yum China Holdings Inc | YUMC | 126,479 | $6.6M | 0.04% |
| 96 | iShares 1-5 Year Investment Grade Corporate Bond ETF | 464288646 | 125,433 | $6.6M | 0.04% |
| 97 | Novartis AG ADR | NVSEF | 54,147 | $6.0M | 0.04% |
| 98 | Chevron Corporation | CVX | 34,438 | $5.8M | 0.04% |
| 99 | Infosys Ltd ADR | INFY | 312,001 | $5.7M | 0.04% |
| 100 | Novo Nordisk A/S Sponsored ADR | NONOF | 80,373 | $5.6M | 0.03% |
| 101 | Fomento Econ.Mexicano SAB de CV ADR | 344419106 | 56,533 | $5.5M | 0.03% |
| 102 | Emerson Electric Co. | EMR | 45,460 | $5.0M | 0.03% |
| 103 | BCE Inc. | BCPPF | 203,892 | $4.7M | 0.03% |
| 104 | XP Inc | XP | 322,352 | $4.4M | 0.03% |
| 105 | Canadian Pacific Kansas City Ltd | CP | 62,738 | $4.4M | 0.03% |
| 106 | McDonald's Corporation | MCD | 13,918 | $4.3M | 0.03% |
| 107 | Suncor Energy Inc. | SU | 112,242 | $4.3M | 0.03% |
| 108 | Coca-Cola Company | KO | 59,838 | $4.3M | 0.03% |
| 109 | Pfizer Inc. | PFE | 147,033 | $3.7M | 0.02% |
| 110 | JD.com Inc ADR | JDCMF | 84,216 | $3.5M | 0.02% |
| 111 | ATS Corp | ATS | 137,520 | $3.4M | 0.02% |
| 112 | Sun Life Financial Inc. | SUNFF | 58,555 | $3.4M | 0.02% |
| 113 | TotalEnergies SE - ADR | TTE | 50,050 | $3.2M | 0.02% |
| 114 | Merck & Co. Inc. | MRK | 34,665 | $3.1M | 0.02% |
| 115 | Duke Energy Corporation | DUKB | 24,383 | $3.0M | 0.02% |
| 116 | iShares 5-10 Year Inv. Grade Corp. Bond ETF | 464288638 | 54,779 | $2.9M | 0.02% |
| 117 | NIKE Inc | NKE | 44,783 | $2.8M | 0.02% |
| 118 | Kimberly-Clark Corporation | KMB | 19,560 | $2.8M | 0.02% |
| 119 | CVS Health Corporation | CVS | 38,395 | $2.6M | 0.02% |
| 120 | Canadian Imperial Bank of Commerce | CNDIF | 45,903 | $2.6M | 0.02% |
| 121 | Xcel Energy Inc. | XELLL | 35,000 | $2.5M | 0.02% |
| 122 | National Grid Plc ADR | NMPWP | 37,141 | $2.4M | 0.02% |
| 123 | Allstate Corporation | ALL-PJ | 11,231 | $2.3M | 0.01% |
| 124 | Visa Inc - A | V | 6,199 | $2.2M | 0.01% |
| 125 | EOG Resources Inc. | EOG | 15,825 | $2.0M | 0.01% |
| 126 | Imperial Oil Limited | IMO | 27,947 | $2.0M | 0.01% |
| 127 | iShares Barclays 1-3 Yr Trsry Bond ETF | 464287457 | 22,670 | $1.9M | 0.01% |
| 128 | Berkshire Hathaway Inc - A | BRK-A | 2 | $1.6M | 0.01% |
| 129 | iShares Core 1-5 Year USD Bond ETF | 46432F859 | 32,330 | $1.6M | 0.01% |
| 130 | Canadian Natural Resources | 136385101 | 49,726 | $1.5M | 0.01% |
| 131 | International Flavors & Fragrances | 459506101 | 19,000 | $1.5M | 0.01% |
| 132 | ING Groep N.V. ADR | INGVF | 70,705 | $1.4M | 0.01% |
| 133 | Aflac Incorporated | AFL | 11,600 | $1.3M | 0.01% |
| 134 | Wal-Mart Stores Inc. | WMT | 14,343 | $1.3M | 0.01% |
| 135 | MetLife Inc. | MET-PF | 15,680 | $1.3M | 0.01% |
| 136 | Home Depot Inc. | HD | 3,199 | $1.2M | 0.01% |
| 137 | Shell PLC - ADR | RYDAF | 15,920 | $1.2M | 0.01% |
| 138 | Zimmer Biomet Holdings Inc | ZBH | 10,250 | $1.2M | 0.01% |
| 139 | iShares MSCI EAFE Index Fund | 464287465 | 14,000 | $1.1M | 0.01% |
| 140 | Astrazeneca PLC | AZN | 14,682 | $1.1M | 0.01% |
| 141 | SPDR Gold Trust | GLD | 3,386 | $975,642 | 0.01% |
| 142 | Fortis Inc. | FTRSF | 20,705 | $943,000 | 0.01% |
| 143 | Philip Morris International Inc. | 718172109 | 5,800 | $920,634 | 0.01% |
| 144 | Wells Fargo & Company | 949746101 | 11,500 | $825,585 | 0.01% |
| 145 | NVIDIA Corporation | NVDA | 7,280 | $789,006 | 0.00% |
| 146 | Intercontinental Hotels-ADR | 45857P806 | 7,002 | $767,349 | 0.00% |
| 147 | Magna International Inc - A | 559222401 | 21,650 | $735,731 | 0.00% |
| 148 | Lowe's Companies Inc. | 548661107 | 3,080 | $718,348 | 0.00% |
| 149 | Medtronic Inc. Plc | MDT | 7,523 | $676,016 | 0.00% |
| 150 | Cintas Corporation | CTAS | 3,200 | $657,696 | 0.00% |
| 151 | M&T Bank Corporation | 55261F104 | 3,555 | $635,456 | 0.00% |
| 152 | Barrick Gold Corporation | 067901108 | 32,640 | $633,636 | 0.00% |
| 153 | Smith & Nephew Plc ADR | SNNUF | 21,000 | $595,770 | 0.00% |
| 154 | Altria Group Inc. | MO | 9,300 | $558,186 | 0.00% |
| 155 | 3M Company | MMM | 3,800 | $558,068 | 0.00% |
| 156 | Agnico Eagle Mines Limited | AEM | 5,101 | $552,577 | 0.00% |
| 157 | Waste Connections Inc. | WCN | 2,678 | $521,905 | 0.00% |
| 158 | US Bancorp | USB-PS | 12,352 | $521,501 | 0.00% |
| 159 | iShares US Technology ETF | 464287721 | 3,700 | $519,628 | 0.00% |
| 160 | Cooper Cos Inc/the | 216648501 | 5,800 | $489,230 | 0.00% |
| 161 | Rogers Communications Inc - B | RCIAF | 18,296 | $488,528 | 0.00% |
| 162 | Brown-Forman Corp - A | BF-B | 14,500 | $485,315 | 0.00% |
| 163 | Brown-Forman Corp - B | BF-B | 13,569 | $460,531 | 0.00% |
| 164 | Texas Instruments Incorporated | 882508104 | 2,310 | $415,107 | 0.00% |
| 165 | Marsh & McLennan Companies Inc. | 571748102 | 1,700 | $414,851 | 0.00% |
| 166 | Hilton Worldwide Holdings Inc. | HLT | 1,745 | $397,074 | 0.00% |
| 167 | iShares MSCI Emerging Market | 464287234 | 8,341 | $364,501 | 0.00% |
| 168 | Adobe Inc. | ADBE | 870 | $333,671 | 0.00% |
| 169 | iShares S&P 500 ETF | 464287200 | 558 | $313,540 | 0.00% |
| 170 | CDW Corp/DE | CDW | 1,949 | $312,346 | 0.00% |
| 171 | Vanguard Growth ETF | 922908736 | 800 | $296,656 | 0.00% |
| 172 | Honeywell International Inc. | 438516106 | 1,370 | $290,097 | 0.00% |
| 173 | Ross Stores Inc. | ROST | 2,174 | $277,815 | 0.00% |
| 174 | West Fraser Timber Co. Ltd. | WFG | 3,590 | $275,701 | 0.00% |
| 175 | Cardinal Health Inc. | CAH | 2,000 | $275,540 | 0.00% |
| 176 | Travelers Companies Inc. | TRV | 1,040 | $275,038 | 0.00% |
| 177 | Illinois Tool Works Inc. | 452308109 | 1,062 | $263,386 | 0.00% |
| 178 | Valero Energy Corporation | VLO | 1,992 | $263,083 | 0.00% |
| 179 | Teck Resources Limited - B | TCKRF | 7,062 | $257,210 | 0.00% |
| 180 | Dominion Energy | D | 4,336 | $243,119 | 0.00% |
| 181 | Caterpillar Inc. | CAT | 705 | $232,509 | 0.00% |
| 182 | Cenovus Energy Inc. | CVE | 16,398 | $227,868 | 0.00% |
| 183 | Union Pacific Corporation | UNP | 944 | $223,010 | 0.00% |
| 184 | Trane Technologies plc | TT | 600 | $202,152 | 0.00% |
| 185 | Ambev SA ADR | ABEV | 47,546 | $110,782 | 0.00% |