Institutional Manager · CIK 0001123778
JARISLOWSKY, FRASER Ltd
MONTREAL, A8 · File #028-06075
Latest AUM
$18.20B
Positions
192
Top-10 Concentration
45.5%
Filings
14
Portfolio Value Over Time
2023-12
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| ADD | Pembina Pipeline Corporation | 706327103 | +8,372,612 | +$338.6M | +$1.3M |
| NEW | RB Global Inc | 74935Q107 | +1,805,849 | +$195.6M | $0 |
| REDUCE | Stantec Inc | 85472N109 | -881,942 | -$95.1M | -$3.6M |
| NEW | Intuit Inc | 461202103 | +132,503 | +$90.5M | $0 |
| REDUCE | Autodesk Inc | 052769106 | -282,806 | -$89.8M | +$2.8M |
| REDUCE | Franco Nevada Corporation | 351858105 | -334,297 | -$74.4M | +$164.4M |
| REDUCE | Bank of Montreal | 063671101 | -566,349 | -$73.8M | +$126.3M |
| REDUCE | CyberArk Software Ltd ADR | M2682V108 | -152,704 | -$73.8M | +$11.7M |
| REDUCE | Colliers International Group Inc | 194693107 | -417,047 | -$65.2M | +$65.5M |
| REDUCE | Microsoft Corporation | 594918104 | -119,794 | -$62.0M | +$28.7M |
Filing History
- 13F HOLDINGS REPORTQ/E Sep 2025192 pos · $18.20B
- 13F HOLDINGS REPORTQ/E Jun 2025188 pos · $17.50B
- 13F HOLDINGS REPORTQ/E Mar 2025185 pos · $15.96B
- 13F HOLDINGS REPORTQ/E Dec 2024189 pos · $17.10B
- 13F HOLDINGS REPORTQ/E Sep 2024189 pos · $17.88B
- 13F HOLDINGS REPORT (Amended)Q/E Sep 2024221 pos · $17.01B
- 13F HOLDINGS REPORT (Amended)Q/E Sep 2024196 pos · $17.44B
- 13F HOLDINGS REPORT (Amended)Q/E Sep 2024188 pos · $15.37B
- 13F HOLDINGS REPORT (Amended)Q/E Sep 2024198 pos · $16.22B
- 13F HOLDINGS REPORT (Amended)Q/E Sep 2024197 pos · $16.81B
- 13F HOLDINGS REPORT (Amended)Q/E Sep 2024206 pos · $15.28B
- 13F HOLDINGS REPORTQ/E Jun 2024185 pos · $16.46B
- 13F HOLDINGS REPORTQ/E Mar 2024196 pos · $17.4M
- 13F HOLDINGS REPORTQ/E Dec 2023188 pos · $15.4M
Top 20 Holdings — Sep 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | Brookfield Corp | 11271J107 | 14,806,245 | $1.02B | 6.18% |
| 2 | Toronto-Dominion Bank | 891160509 | 11,728,785 | $938.0M | 5.70% |
| 3 | Canadian National Railway Company | 136375102 | 8,871,249 | $836.8M | 5.09% |
| 4 | Open Text Corporation | 683715106 | 21,150,154 | $790.7M | 4.81% |
| 5 | Bank of Montreal | 063671101 | 5,833,830 | $760.4M | 4.62% |
| 6 | Shopify Inc. Class - A | 82509L107 | 4,861,383 | $722.4M | 4.39% |
| 7 | Microsoft Corporation | 594918104 | 1,277,760 | $661.8M | 4.02% |
| 8 | CAE Inc. | 124765108 | 20,943,262 | $620.3M | 3.77% |
| 9 | TC Energy Corp. | 87807B107 | 10,751,401 | $584.7M | 3.55% |
| 10 | Franco Nevada Corporation | 351858105 | 2,462,713 | $548.3M | 3.33% |
| 11 | Thomson Reuters Corp | 884903808 | 2,886,701 | $448.3M | 2.73% |
| 12 | Stantec Inc | 85472N109 | 4,082,124 | $440.3M | 2.68% |
| 13 | Amazon.Com Inc | 023135106 | 1,981,602 | $435.1M | 2.64% |
| 14 | Gildan Activewear Inc. | 375916103 | 6,848,156 | $395.7M | 2.41% |
| 15 | CGI Inc. | 12532H104 | 4,033,813 | $359.4M | 2.18% |
| 16 | Pembina Pipeline Corporation | 706327103 | 8,814,455 | $356.5M | 2.17% |
| 17 | Oracle Corporation | 68389X105 | 1,220,787 | $343.3M | 2.09% |
| 18 | Colliers International Group Inc | 194693107 | 2,115,789 | $331.0M | 2.01% |
| 19 | Mastercard Inc - A | 57636Q104 | 547,672 | $311.5M | 1.89% |
| 20 | Abbott Laboratories | 002824100 | 2,158,089 | $289.1M | 1.76% |