13F HOLDINGS REPORT
Jarislowsky, Fraser Ltd
Quarter ended Q3 2025 · Filed October 21, 2025 · Accession 0001123778-25-000007
Total Value
$18.20B
Positions
192
Other Managers
1
Confidential Omitted
No
Holdings (192)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | Brookfield Corp | 11271J107 | 14,806,245 | $1.02B | 5.58% |
| 2 | Toronto-Dominion Bank | TORO | 11,728,785 | $938.0M | 5.16% |
| 3 | Canadian National Railway Company | 136375102 | 8,871,249 | $836.8M | 4.60% |
| 4 | Open Text Corporation | OTEX | 21,150,154 | $790.7M | 4.35% |
| 5 | Bank of Montreal | 063671101 | 5,833,830 | $760.4M | 4.18% |
| 6 | Shopify Inc. Class - A | SHOP | 4,861,383 | $722.4M | 3.97% |
| 7 | Microsoft Corporation | MSFT | 1,277,760 | $661.8M | 3.64% |
| 8 | CAE Inc. | CAE | 20,943,262 | $620.3M | 3.41% |
| 9 | TC Energy Corp. | TRPRF | 10,751,401 | $584.7M | 3.21% |
| 10 | Franco Nevada Corporation | FNV | 2,462,713 | $548.3M | 3.01% |
| 11 | Thomson Reuters Corp | TMSOF | 2,886,701 | $448.3M | 2.46% |
| 12 | Stantec Inc | STN | 4,082,124 | $440.3M | 2.42% |
| 13 | Amazon.Com Inc | AMZN | 1,981,602 | $435.1M | 2.39% |
| 14 | Gildan Activewear Inc. | GIL | 6,848,156 | $395.7M | 2.17% |
| 15 | CGI Inc. | GIB | 4,033,813 | $359.4M | 1.98% |
| 16 | Pembina Pipeline Corporation | PPLOF | 8,814,455 | $356.5M | 1.96% |
| 17 | Oracle Corporation | ORCL-PD | 1,220,787 | $343.3M | 1.89% |
| 18 | Colliers International Group Inc | 194693107 | 2,115,789 | $331.0M | 1.82% |
| 19 | Mastercard Inc - A | MA | 547,672 | $311.5M | 1.71% |
| 20 | Abbott Laboratories | ABLZF | 2,158,089 | $289.1M | 1.59% |
| 21 | TFI International Inc. | 87241L109 | 3,201,844 | $281.8M | 1.55% |
| 22 | JPMorgan Chase & Co. | VYLD | 878,324 | $277.0M | 1.52% |
| 23 | Alphabet Inc - C | GOOG | 1,078,837 | $262.8M | 1.44% |
| 24 | Alphabet Inc - A | GOOG | 1,079,717 | $262.5M | 1.44% |
| 25 | Interactive Brokers Group Inc | 45841N107 | 3,724,608 | $256.3M | 1.41% |
| 26 | Royal Bank of Canada | 780087102 | 1,645,780 | $242.6M | 1.33% |
| 27 | Descartes Systems Group Inc | 249906108 | 2,483,153 | $233.9M | 1.29% |
| 28 | UnitedHealth Group Incorporated | UNH | 664,655 | $229.5M | 1.26% |
| 29 | Boston Scientific Corporation | BSX | 2,192,794 | $214.1M | 1.18% |
| 30 | Restaurant Brands International Inc. | 76131D103 | 3,263,219 | $209.4M | 1.15% |
| 31 | Taiwan Semiconductor Manufactng ADR | 874039100 | 739,611 | $206.6M | 1.14% |
| 32 | RB Global Inc | RBA | 1,805,849 | $195.6M | 1.08% |
| 33 | Fiserv Inc. | FISV | 1,508,425 | $194.5M | 1.07% |
| 34 | PepsiCo Inc. | PEP | 1,302,013 | $182.9M | 1.00% |
| 35 | Becton Dickinson and Company | BDX | 935,130 | $175.0M | 0.96% |
| 36 | Meta Platforms Inc | META | 235,586 | $173.0M | 0.95% |
| 37 | IQVIA Holdings Inc | IQV | 785,658 | $149.2M | 0.82% |
| 38 | Copart Inc | CPRT | 3,112,375 | $140.0M | 0.77% |
| 39 | Broadcom Inc | AVGO | 420,881 | $138.9M | 0.76% |
| 40 | Accenture Plc | ACN | 535,794 | $132.1M | 0.73% |
| 41 | TJX Companies Inc. | 872540109 | 888,931 | $128.5M | 0.71% |
| 42 | The Sherwin-Williams Company | SHW | 346,536 | $120.0M | 0.66% |
| 43 | AMETEK Inc | AME | 614,702 | $115.6M | 0.64% |
| 44 | HDFC Bank Ltd ADR | HDB | 3,317,169 | $113.3M | 0.62% |
| 45 | Berkshire Hathaway Inc - B | BRK-A | 221,593 | $111.4M | 0.61% |
| 46 | Danaher Corporation | 235851102 | 554,230 | $109.9M | 0.60% |
| 47 | Cadence Design Systems Inc | CDNS | 303,436 | $106.6M | 0.59% |
| 48 | Manulife Financial Corporation | 56501R106 | 3,273,476 | $102.0M | 0.56% |
| 49 | Guidewire Software Inc | GWRE | 439,972 | $101.1M | 0.56% |
| 50 | Mondelez International Inc. | 609207105 | 1,552,357 | $97.0M | 0.53% |
| 51 | Intuit Inc | INTU | 132,503 | $90.5M | 0.50% |
| 52 | Public Service Enterprises Group | 744573106 | 1,025,305 | $85.6M | 0.47% |
| 53 | Bank OZK | OZKAP | 1,658,271 | $84.5M | 0.46% |
| 54 | Enbridge Inc | ENNPF | 1,671,318 | $84.3M | 0.46% |
| 55 | Johnson & Johnson | JNJ | 450,506 | $83.5M | 0.46% |
| 56 | Bank of Nova Scotia | 064149107 | 1,242,357 | $80.4M | 0.44% |
| 57 | Chubb Limited | CB | 278,658 | $78.7M | 0.43% |
| 58 | Monster Beverage Corp | MNST | 1,074,573 | $72.3M | 0.40% |
| 59 | Procter & Gamble Company | 742718109 | 404,384 | $62.1M | 0.34% |
| 60 | ASML Holding NV-NY Reg Shs | ASMLF | 62,723 | $60.7M | 0.33% |
| 61 | Relx Plc ADR | RLXXF | 1,129,509 | $53.9M | 0.30% |
| 62 | American Financial Group Inc/OH | 025932104 | 369,784 | $53.9M | 0.30% |
| 63 | CME Group Inc. | CME | 175,151 | $47.3M | 0.26% |
| 64 | SAP AG ADR | SAPGF | 165,093 | $44.1M | 0.24% |
| 65 | Costco Wholesale Corporation | 22160K105 | 43,841 | $40.6M | 0.22% |
| 66 | Unilever Plc ADR | UNLYF | 676,812 | $40.1M | 0.22% |
| 67 | Colgate-Palmolive Company | CL | 418,440 | $33.5M | 0.18% |
| 68 | Diageo Plc ADR | DGEAF | 339,798 | $32.4M | 0.18% |
| 69 | Axos Financial Inc | AX | 382,183 | $32.4M | 0.18% |
| 70 | Credit Acceptance Corp. | 225310101 | 69,214 | $32.3M | 0.18% |
| 71 | SPDR S&P 500 ETF Trust | SPY | 41,279 | $27.5M | 0.15% |
| 72 | ServisFirst Bancshares Inc | SFBS | 303,115 | $24.4M | 0.13% |
| 73 | Progressive Corp/The | 743315103 | 91,262 | $22.5M | 0.12% |
| 74 | LCI Industries | 50189K103 | 236,956 | $22.1M | 0.12% |
| 75 | Verisk Analytics Inc - A | VRSK | 86,669 | $21.8M | 0.12% |
| 76 | Abbvie Inc | ABBV | 88,873 | $20.6M | 0.11% |
| 77 | Autodesk Inc | ADSK | 59,225 | $18.8M | 0.10% |
| 78 | Alcon Inc. | ALC | 230,438 | $17.2M | 0.09% |
| 79 | Exxon Mobil Corporation | XOM | 142,564 | $16.1M | 0.09% |
| 80 | Eli Lilly & Company | LLY | 20,327 | $15.5M | 0.09% |
| 81 | Sea Ltd | SE | 86,522 | $15.5M | 0.08% |
| 82 | Automatic Data Processing Inc. | ADP | 52,462 | $15.4M | 0.08% |
| 83 | MercadoLibre Inc | MELI | 6,175 | $14.4M | 0.08% |
| 84 | Triple Flag Precious Metals Corp | TFPM | 443,713 | $13.0M | 0.07% |
| 85 | Trip.com Group Ltd - ADR | TRPCF | 166,860 | $12.5M | 0.07% |
| 86 | Apple Inc. | AAPL | 44,738 | $11.4M | 0.06% |
| 87 | Zoetis Inc. | ZTS | 76,698 | $11.2M | 0.06% |
| 88 | Nutrien Ltd | NTR | 181,665 | $10.7M | 0.06% |
| 89 | NU Holdings Ltd/Cayman Islands | NU | 651,820 | $10.4M | 0.06% |
| 90 | Credicorp Ltd ADR | BAP | 38,882 | $10.4M | 0.06% |
| 91 | iShares 1-5 Year Investment Grade Corporate Bond ETF | 464288646 | 192,744 | $10.2M | 0.06% |
| 92 | TELUS Corp | TU | 645,207 | $10.2M | 0.06% |
| 93 | Booking Holdings Inc | BKNG | 1,634 | $8.8M | 0.05% |
| 94 | ATS Corp | ATS | 334,904 | $8.8M | 0.05% |
| 95 | NVIDIA Corporation | NVDA | 45,038 | $8.4M | 0.05% |
| 96 | Haleon PLC | HLNCF | 821,006 | $7.4M | 0.04% |
| 97 | Novartis AG ADR | NVSEF | 52,037 | $6.7M | 0.04% |
| 98 | Emerson Electric Co. | EMR | 45,460 | $6.0M | 0.03% |
| 99 | Comcast Corp - A | CCZ | 176,738 | $5.6M | 0.03% |
| 100 | Fomento Econ.Mexicano SAB de CV ADR | 344419106 | 55,306 | $5.5M | 0.03% |
| 101 | Yum China Holdings Inc | YUMC | 126,474 | $5.4M | 0.03% |
| 102 | Canadian Pacific Kansas City Ltd | CP | 69,573 | $5.2M | 0.03% |
| 103 | Chevron Corporation | CVX | 32,600 | $5.1M | 0.03% |
| 104 | Suncor Energy Inc. | SU | 118,134 | $4.9M | 0.03% |
| 105 | iShares 5-10 Year Inv. Grade Corp. Bond ETF | 464288638 | 89,421 | $4.8M | 0.03% |
| 106 | BCE Inc. | BCPPF | 199,725 | $4.7M | 0.03% |
| 107 | Canadian Imperial Bank of Commerce | CNDIF | 55,674 | $4.4M | 0.02% |
| 108 | McDonald's Corporation | MCD | 13,592 | $4.1M | 0.02% |
| 109 | Coca-Cola Company | KO | 58,738 | $3.9M | 0.02% |
| 110 | Infosys Ltd ADR | INFY | 238,197 | $3.9M | 0.02% |
| 111 | Sun Life Financial Inc. | SUNFF | 61,475 | $3.7M | 0.02% |
| 112 | Pfizer Inc. | PFE | 141,001 | $3.6M | 0.02% |
| 113 | iShares Barclays 1-3 Yr Trsry Bond ETF | 464287457 | 41,528 | $3.4M | 0.02% |
| 114 | Brp Inc. / ca Sub Voting | DOO | 52,687 | $3.2M | 0.02% |
| 115 | Duke Energy Corporation | DUKB | 24,383 | $3.0M | 0.02% |
| 116 | TotalEnergies SE - ADR | TTE | 48,301 | $2.9M | 0.02% |
| 117 | Xcel Energy Inc. | XELLL | 35,000 | $2.8M | 0.02% |
| 118 | CVS Health Corporation | CVS | 36,771 | $2.8M | 0.02% |
| 119 | Merck & Co. Inc. | MRK | 32,875 | $2.8M | 0.02% |
| 120 | National Grid Plc ADR | NMPWP | 37,226 | $2.7M | 0.01% |
| 121 | NIKE Inc | NKE | 38,455 | $2.7M | 0.01% |
| 122 | Novo Nordisk A/S Sponsored ADR | NONOF | 46,215 | $2.6M | 0.01% |
| 123 | Imperial Oil Limited | IMO | 27,678 | $2.5M | 0.01% |
| 124 | Kimberly-Clark Corporation | KMB | 19,263 | $2.4M | 0.01% |
| 125 | Allstate Corporation | ALL-PJ | 11,081 | $2.4M | 0.01% |
| 126 | JD.com Inc ADR | JDCMF | 66,790 | $2.3M | 0.01% |
| 127 | iShares Core 1-5 Year USD Bond ETF | 46432F859 | 44,580 | $2.2M | 0.01% |
| 128 | Canadian Natural Resources | 136385101 | 66,366 | $2.1M | 0.01% |
| 129 | ING Groep N.V. ADR | INGVF | 76,392 | $2.0M | 0.01% |
| 130 | Visa Inc - A | V | 5,427 | $1.9M | 0.01% |
| 131 | EOG Resources Inc. | EOG | 15,525 | $1.7M | 0.01% |
| 132 | Linde PLC | LIN | 3,600 | $1.7M | 0.01% |
| 133 | Barrick Mining Corp | 06849F108 | 46,306 | $1.5M | 0.01% |
| 134 | Berkshire Hathaway Inc - A | BRK-A | 2 | $1.5M | 0.01% |
| 135 | Astrazeneca PLC | AZN | 19,548 | $1.5M | 0.01% |
| 136 | Walmart Inc. | WMT | 13,659 | $1.4M | 0.01% |
| 137 | Home Depot Inc. | HD | 3,235 | $1.3M | 0.01% |
| 138 | iShares MSCI EAFE Index Fund | 464287465 | 14,000 | $1.3M | 0.01% |
| 139 | Aflac Incorporated | AFL | 11,600 | $1.3M | 0.01% |
| 140 | International Flavors & Fragrances | 459506101 | 18,000 | $1.1M | 0.01% |
| 141 | Shell PLC - ADR | RYDAF | 15,220 | $1.1M | 0.01% |
| 142 | SPDR Gold Trust | GLD | 2,989 | $1.1M | 0.01% |
| 143 | Zimmer Biomet Holdings Inc | ZBH | 10,250 | $1.0M | 0.01% |
| 144 | Wells Fargo & Company | 949746101 | 12,000 | $1.0M | 0.01% |
| 145 | Agnico Eagle Mines Limited | AEM | 5,926 | $998,314 | 0.01% |
| 146 | Magna International Inc - A | 559222401 | 20,686 | $980,332 | 0.01% |
| 147 | Philip Morris International Inc. | 718172109 | 5,750 | $932,650 | 0.01% |
| 148 | Intercontinental Hotels-ADR | 45857P806 | 7,434 | $901,446 | 0.00% |
| 149 | Rogers Communications Inc - B | RCIAF | 24,288 | $836,307 | 0.00% |
| 150 | Sony Corp. ADR | SNEJF | 25,082 | $722,110 | 0.00% |
| 151 | Fortis Inc. | FTRSF | 13,325 | $676,018 | 0.00% |
| 152 | Medtronic Inc. Plc | MDT | 6,995 | $666,203 | 0.00% |
| 153 | Cintas Corporation | CTAS | 3,200 | $656,832 | 0.00% |
| 154 | Lowe's Companies Inc. | 548661107 | 2,555 | $642,097 | 0.00% |
| 155 | Smith & Nephew Plc ADR | SNNUF | 17,150 | $622,373 | 0.00% |
| 156 | Invesco QQQ Trust Series 1. | IVZ | 1,035 | $621,382 | 0.00% |
| 157 | Altria Group Inc. | MO | 9,300 | $614,358 | 0.00% |
| 158 | Waste Connections Inc. | WCN | 3,384 | $595,033 | 0.00% |
| 159 | iShares US Technology ETF | 464287721 | 2,885 | $565,056 | 0.00% |
| 160 | Mitsubishi UFJ Financial Group ADR | 606822104 | 34,948 | $557,071 | 0.00% |
| 161 | MetLife Inc. | MET-PF | 6,735 | $554,761 | 0.00% |
| 162 | Teck Resources Limited - B | TCKRF | 12,059 | $529,108 | 0.00% |
| 163 | 3M Company | MMM | 3,325 | $515,973 | 0.00% |
| 164 | Marsh & McLennan Companies Inc. | 571748102 | 2,323 | $468,154 | 0.00% |
| 165 | Cenovus Energy Inc. | CVE | 26,474 | $449,605 | 0.00% |
| 166 | iShares S&P 500 ETF | 464287200 | 660 | $441,738 | 0.00% |
| 167 | Texas Instruments Incorporated | 882508104 | 2,225 | $408,799 | 0.00% |
| 168 | M&T Bank Corporation | 55261F104 | 1,960 | $387,335 | 0.00% |
| 169 | US Bancorp | USB-PS | 7,990 | $386,156 | 0.00% |
| 170 | West Fraser Timber Co. Ltd. | WFG | 5,614 | $381,731 | 0.00% |
| 171 | Hilton Worldwide Holdings Inc. | HLT | 1,445 | $374,890 | 0.00% |
| 172 | Brown-Forman Corp - A | BF-B | 13,200 | $355,212 | 0.00% |
| 173 | Brown-Forman Corp - B | BF-B | 13,057 | $353,583 | 0.00% |
| 174 | Valero Energy Corporation | VLO | 1,992 | $339,157 | 0.00% |
| 175 | Caterpillar Inc. | CAT | 705 | $336,390 | 0.00% |
| 176 | Ross Stores Inc. | ROST | 2,174 | $331,295 | 0.00% |
| 177 | Cardinal Health Inc. | CAH | 2,000 | $313,920 | 0.00% |
| 178 | CDW Corp/DE | CDW | 1,949 | $310,436 | 0.00% |
| 179 | Adobe Inc. | ADBE | 865 | $305,128 | 0.00% |
| 180 | CyberArk Software Ltd ADR | M2682V108 | 620 | $299,553 | 0.00% |
| 181 | Travelers Companies Inc. | TRV | 1,040 | $290,388 | 0.00% |
| 182 | Illinois Tool Works Inc. | 452308109 | 1,062 | $276,927 | 0.00% |
| 183 | iShares MSCI Emerging Market | 464287234 | 5,041 | $269,189 | 0.00% |
| 184 | Dominion Energy | D | 4,336 | $265,233 | 0.00% |
| 185 | Fastenal Co | FAST | 4,896 | $240,099 | 0.00% |
| 186 | Trane Technologies plc | TT | 565 | $238,407 | 0.00% |
| 187 | Union Pacific Corporation | UNP | 1,003 | $237,079 | 0.00% |
| 188 | Baidu Inc. Sponsored ADR | BAIDF | 1,764 | $232,442 | 0.00% |
| 189 | XP Inc | XP | 10,949 | $205,731 | 0.00% |
| 190 | SiteOne Landscape Supply Inc | SITE | 1,584 | $204,019 | 0.00% |
| 191 | Honeywell International Inc. | 438516106 | 958 | $201,659 | 0.00% |
| 192 | Ambev SA ADR | ABEV | 71,951 | $160,450 | 0.00% |