JARISLOWSKY, FRASER Ltd

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed September 30, 2024), JARISLOWSKY, FRASER Ltd reported 194 stock positions worth $17.4 billion. Its top holding was Canadian Natl Railway (CNI) at 6.4% of the portfolio, followed by Brookfield (BN, 5.2%) and Microsoft (MSFT, 3.8%). Compared with Q4 2023, it opened 5 new positions, sold out of 29, added to 31 and reduced 138. The biggest buy was Bank of Montreal (BMO, shares +1117%) and the biggest sale Shopify Class A (SHOP, shares −22%).

Most Recent 13F
Q3 2025
Location
MONTREAL, A8
CIK
0001123778
Portfolio Value
$17.4B (Q1 2024)
SEC Filing
0001123778-24-000017 ↗ filed Sep 30, 2024

Holdings Value

0$5.0B$10.0B$15.0B$20.0B Q1 2024: $17.4B $17.4B Q1 2024 Q2 2024: $16.5B Q2 2024 Q3 2024: $17.9B Q3 2024 Q4 2024: $17.1B Q4 2024 Q1 2025: $15.9B Q1 2025 Q2 2025: $17.5B Q2 2025 Q3 2025: $18.2B Q3 2025

Holdings 194 stocks · $17.4B

CNI Canadian Natl Railway Co. 6.43% 8,511,212 $1.1B Reduce -3.5%
BN Brookfield Corp. 5.21% 21,667,121 $907.5M Reduce -3.7%
MSFT Microsoft Corp. 3.79% 1,570,363 $660.7M Reduce -5.6%
BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX 3.78% 12,741,121 $659.7M Reduce -3.2%
TRI Thomson Reuters Corp. 3.33% 3,724,155 $580.1M Reduce -13.5%
OTEX Open Text Corp. 3.33% 14,934,688 $580.1M Reduce -3.0%
QSR Restaurant Brands Intern 3.08% 6,756,695 $537.1M Reduce -4.0%
GIB Cgi Inc. 2.98% 4,710,670 $520.2M Reduce -11.9%
TRP TC Energy Corp. 2.94% 12,759,331 $513.3M Reduce -3.1%
MFC Manulife Financial Corp. 2.87% 19,983,130 $499.6M Reduce -3.5%
CAE Cae Inc. 2.60% 21,964,698 $454.0M Add +26.7%
STN Stantec Inc. 2.60% 5,445,228 $452.5M Reduce -15.7%
GIL Gildan Activewear Inc. 2.39% 11,222,154 $416.9M Reduce -5.6%
FNV Franco-Nevada Corp. 2.38% 3,474,773 $414.4M Add +0.9%
AMZN Amazon.com Inc. 2.29% 2,210,251 $398.7M Reduce -5.7%
BMO Bank of Montreal filed as BANK MONTREAL QUE 2.15% 3,827,130 $374.0M Add +1117.2%
MGA Magna International Inc. 2.11% 6,752,491 $368.2M Reduce -3.1%
UNH Unitedhealth Group Inc. 1.86% 655,100 $324.1M Add +0.3%
MA Mastercard Inc. Class A 1.85% 670,944 $323.1M Reduce -2.5%
DSGX The Descartes Systems Grp 1.75% 3,329,220 $304.8M Reduce -23.2%
SHOP Shopify Inc. Class A 1.67% 3,770,182 $291.1M Reduce -22.4%
FISV Fiserv Inc. 1.60% 1,747,209 $279.2M Reduce -2.7%
CIGI Colliers Intl GR-Subord Vot 1.55% 2,215,765 $271.1M Reduce -3.6%
PEP Pepsico Inc. 1.46% 1,451,736 $254.1M Add +14.2%
CPRT Copart Inc. 1.44% 4,345,695 $251.7M Reduce -3.9%
GOOGL Alphabet Inc. Class A 1.44% 1,664,883 $251.3M Reduce -3.0%
ABT Abbott Laboratories 1.36% 2,079,873 $236.4M Reduce -2.0%
RY Royal Bank of Canada 1.29% 2,235,429 $225.7M Reduce -1.0%
JPM JPMorgan Chase & Co. 1.27% 1,109,524 $222.2M Reduce -3.1%
BDX Becton Dickinson and Co. 1.27% 896,176 $221.8M Add +3.6%
GOOG Alphabet Inc. Class C 1.27% 1,453,449 $221.3M Reduce -4.3%
ORCL Oracle Corp. 1.19% 1,658,230 $208.3M Reduce -2.5%
BSX Boston Scientific Corp. 1.16% 2,962,910 $202.9M Reduce -2.2%
IQV Iqvia Holdings Inc. 1.10% 757,397 $191.5M Reduce -4.0%
IBKR Interactive Brokers Gro Class A 1.10% 1,710,286 $191.1M Reduce -5.6%
CB Chubb Ltd. 1.06% 713,854 $185.0M Add +4.6%
ACN Accenture PLC Class A 0.99% 496,966 $172.3M Reduce -0.2%
DHR Danaher Corp. 0.83% 578,039 $144.3M Add +0.9%
SHW The Sherwin-Williams Co. 0.82% 413,161 $143.5M Reduce -2.9%
AME Ametek Inc. 0.69% 659,935 $120.7M Reduce -1.0%
TD Toronto-Dominion Bank 0.64% 1,838,726 $111.1M Reduce -4.1%
BRK.B Berkshire Hathaway Inc. Class B 0.62% 257,522 $108.3M Reduce -4.9%
META Meta Platforms Inc. Class A 0.62% 222,128 $107.9M Reduce -4.1%
DEO Diageo PLC-Sponsored ADR 0.60% 699,141 $104.0M Reduce -2.9%
JNJ Johnson & Johnson 0.59% 654,913 $103.6M Reduce -4.0%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.59% 1,020,046 $103.5M Reduce -2.7%
PG The Procter & Gamble Co. 0.58% 622,835 $101.1M Reduce -3.3%
ENB Enbridge Inc. 0.57% 2,746,263 $99.3M Reduce -2.0%
GWRE Guidewire Software Inc. 0.57% 846,393 $98.8M Reduce -2.1%
HDB HDFC Bank Ltd.-ADR 0.53% 1,640,649 $91.8M Add +6.9%
MDLZ Mondelez International Inc. Class A 0.51% 1,257,756 $88.0M Add +0.1%
SITE Siteone Landscape Supply Inc. 0.44% 434,813 $75.9M New
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.40% 447,589 $69.0M Reduce -1.9%
OZK Bank Ozk 0.39% 1,487,094 $67.6M Reduce -7.5%
AFG American Financial Group Inc. 0.38% 491,418 $67.1M Reduce -2.6%
LCII Lci Industries 0.38% 539,415 $66.4M Reduce -2.0%
MNST Monster Beverage Corp. 0.36% 1,073,595 $63.6M Reduce -2.7%
ADSK Autodesk Inc. 0.35% 232,115 $60.4M Reduce -1.1%
RELX Relx PLC - Spon ADR 0.32% 1,281,454 $55.5M Reduce -2.5%
CL Colgate-Palmolive Co. 0.30% 589,084 $53.0M Reduce -6.5%
VRSK Verisk Analytics Inc. 0.28% 207,012 $48.8M Reduce -11.4%
COST Costco Wholesale Corp. 0.27% 64,405 $47.2M Reduce -6.3%
PEG Public Service Enterprise GP 0.26% 682,055 $45.5M Add +12233.7%
CYBR Cyberark Software Ltd./Israel 0.23% 151,038 $40.1M Reduce -26.1%
TSM Taiwan Semiconductor-SP ADR 0.23% 290,390 $39.5M Reduce -15.2%
CACC Credit Acceptance Corp. 0.22% 69,669 $38.4M Reduce -2.2%
AX Axos Financial Inc. 0.20% 651,835 $35.2M Reduce -21.1%
CME Cme Group Inc. 0.19% 156,920 $33.8M Add +2.0%
UL Unilever PLC 0.19% 645,631 $32.4M Add +3.3%
XOM Exxon Mobil Corp. 0.18% 276,772 $32.2M Reduce -5.1%
PGR Progressive Corp. 0.17% 141,909 $29.3M Reduce -2.3%
SAP Sap SE-Sponsored ADR 0.16% 147,336 $28.7M Reduce -7.7%
ADP Automatic Data Processing 0.15% 106,094 $26.5M Reduce -4.2%
SFBS Servisfirst Bancshares Inc. 0.15% 398,340 $26.4M Add +51.1%
ASML ASML Holding NV-NY Reg SHS 0.15% 27,098 $26.3M Reduce -4.0%
LLY Eli Lilly & Co. 0.14% 31,667 $24.6M Reduce -18.1%
ABBV Abbvie Inc. 0.14% 131,678 $24.0M Reduce -8.3%
SPY SS SPDR S&P 500 ETF Trust-US 0.14% 45,661 $23.9M Reduce -1.6%
BKNG Booking Holdings Inc. 0.12% 5,704 $20.7M Reduce -79.5%
ALC Alcon Inc. filed as ALCON AG 0.11% 234,786 $19.6M Reduce -2.0%
SHV iShares 0-1 Year Treasury Bo 0.11% 167,621 $18.5M New
CMCSA Comcast Corp. Class A 0.11% 424,058 $18.4M Reduce -6.9%
PBA Pembina Pipeline Corp. 0.10% 496,971 $17.6M Reduce -1.7%
ZTS Zoetis Inc. 0.10% 102,035 $17.3M Reduce -8.4%
TU Telus Corp. 0.09% 956,521 $15.3M Reduce -11.0%
NVO Novo-Nordisk A/S-Spons ADR 0.09% 119,052 $15.3M Reduce -3.8%
NTR Nutrien Ltd. 0.09% 278,636 $15.2M Reduce -18.2%
SLF Sun Life Financial Inc. 0.07% 231,046 $12.6M Add +0.0%
CVX Chevron Corp. 0.06% 70,991 $11.2M Reduce -7.1%
BCE Bce Inc. 0.06% 294,459 $10.0M Reduce -24.6%
AAPL Apple Inc. 0.06% 56,906 $9.7M Reduce -15.6%
TFPM Triple Flag Precious Met 0.05% 628,068 $9.1M Add +113.0%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.05% 723,126 $8.6M Add +0.9%
TCOM Trip.com Group Ltd.-ADR 0.05% 184,272 $8.1M No change
KMB Kimberly-Clark Corp. 0.04% 59,155 $7.7M Reduce -6.1%
CVS CVS Health Corp. 0.04% 94,545 $7.5M Reduce -10.3%
FMX Fomento Economico Mex-SP ADR 0.04% 57,047 $7.4M Reduce -6.0%
XP XP Inc. Class A 0.04% 285,128 $7.3M Add +1.0%
EMR Emerson Electric Co. 0.04% 60,950 $6.9M Reduce -15.8%
BAP Credicorp Ltd. 0.04% 39,595 $6.7M Add +0.4%
SU Suncor Energy Inc. 0.04% 175,067 $6.5M Reduce -5.0%
KO The Coca-Cola Co. 0.04% 104,240 $6.4M Reduce -21.5%
PFE Pfizer Inc. 0.04% 225,794 $6.3M Reduce -10.1%
NKE Nike Inc. Class B 0.04% 66,663 $6.3M Reduce -9.5%
MRK Merck & Co. Inc. 0.03% 46,097 $6.1M Reduce -0.3%
MMM 3M Co. 0.03% 56,795 $6.0M Reduce -22.9%
NVS Novartis AG-Sponsored ADR 0.03% 61,313 $5.9M Reduce -4.3%
ALL Allstate Corp. 0.03% 30,873 $5.3M No change
CP Canadian Pacific Kansas City 0.03% 60,028 $5.3M Reduce -33.0%
SE Sea Ltd.-ADR 0.03% 97,556 $5.2M No change
MCD McDonald's Corp. 0.03% 18,543 $5.2M Reduce -11.3%
YUMC Yum China Holdings Inc. 0.03% 127,393 $5.1M No change
INFY Infosys Ltd.-SP ADR 0.03% 274,864 $4.9M Add +9.4%
ZBH Zimmer Biomet Holdings Inc. 0.02% 31,073 $4.1M Reduce -2.2%
TTE Totalenergies SE -Spon ADR 0.02% 58,714 $4.0M Reduce -7.2%
ALYAF Alithya Group Inc. Class A 0.02% 2,316,984 $3.6M Add +6.2%
DUK Duke Energy Corp. 0.02% 35,483 $3.4M No change
EOG EOG Resources Inc. 0.02% 24,479 $3.1M Reduce -22.2%
PH Parker Hannifin Corp. 0.02% 5,630 $3.1M Reduce -1.4%
IMO Imperial Oil Ltd. 0.02% 42,123 $2.9M Add +6.4%
PM Philip Morris International 0.02% 30,475 $2.8M Reduce -16.7%
MO Altria Group Inc. 0.02% 61,700 $2.7M Reduce -14.3%
V Visa Inc. Class A 0.02% 9,404 $2.6M Reduce -53.1%
NGG National Grid PLC-SP ADR 0.01% 37,159 $2.5M Add +11.4%
MET Metlife Inc. 0.01% 33,475 $2.5M Reduce -35.0%
XEL Xcel Energy Inc. 0.01% 45,800 $2.5M Reduce -0.3%
SHEL Shell PLC-ADR 0.01% 36,327 $2.4M Reduce -9.1%
USB US Bancorp 0.01% 53,352 $2.4M Reduce -34.4%
BF.A Brown-Forman Corp. Class A 0.01% 42,138 $2.2M No change
ATS Ats Corp. 0.01% 63,231 $2.1M Add +0.1%
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.01% 24,237 $2.1M Reduce -14.0%
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM TO 0.01% 39,818 $2.0M Add +46.9%
BF.B Brown-Forman Corp. Class B 0.01% 33,443 $1.7M Reduce -5.2%
SGOV iShares 0-3 Month Treasury B 0.01% 17,103 $1.7M New
AFL Aflac Inc. 0.01% 19,500 $1.7M Reduce -2.5%
FTS Fortis Inc. 0.01% 38,422 $1.5M Reduce -5.4%
BERY Berry Global Group Inc. 0.01% 24,164 $1.5M Reduce -96.7%
COO The Cooper Cos Inc. 0.01% 14,400 $1.5M Reduce -6.5%
CNQ Canadian Natural Resources 0.01% 19,129 $1.5M Reduce -32.0%
HD Home Depot Inc. 0.01% 3,608 $1.4M Reduce -51.9%
ING ING Groep N.V.-Sponsored ADR 0.01% 81,698 $1.3M Add +18.2%
WFC Wells Fargo & Co. 0.01% 22,070 $1.3M Reduce -27.9%
BRK.A Berkshire Hathaway Inc. Class A 0.01% 2 $1.3M No change
GLD SPDR Gold Shares 0.01% 6,046 $1.2M No change
EFA iShares MSCI Eafe ETF 0.01% 14,137 $1.1M Reduce -57.0%
WMT Walmart Inc. 0.01% 17,543 $1.1M Reduce -30.4%
D Dominion Energy Inc. 0.01% 20,568 $1.0M Reduce -19.6%
AZN Astrazeneca PLC-Spons ADR 0.01% 14,083 $954K Add +19.7%
LOW Lowe's Cos Inc. 0.01% 3,700 $943K No change
SYK Stryker Corp. 0.01% 2,429 $869K Reduce -50.3%
IHG Intercontinental Hotels-ADR 0.00% 7,685 $812K Add +1.8%
MDT Medtronic PLC 0.00% 9,019 $786K Reduce -48.7%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.00% 19,587 $743K Reduce -8.0%
SNN Smith & Nephew PLC -Spon ADR 0.00% 28,350 $719K Reduce -22.7%
RCI Rogers Communications Inc. Class B 0.00% 16,851 $691K Add +1.3%
NVDA Nvidia Corp. 0.00% 728 $658K Reduce -3.6%
CLX Clorox Company 0.00% 4,000 $612K No change
MTB M & T Bank Corp. filed as M & T BK CORP 0.00% 3,940 $573K Reduce -50.2%
CTAS Cintas Corp. 0.00% 800 $550K Reduce -0.3%
DLTR Dollar Tree Inc. 0.00% 4,050 $539K Reduce -46.6%
CDW CDW Corp. 0.00% 1,949 $499K No change
HON Honeywell International Inc. 0.00% 2,320 $476K Reduce -59.6%
HLT Hilton Worldwide Holdings Inc. 0.00% 2,176 $464K No change
CVE Cenovus Energy Inc. 0.00% 22,680 $454K Add +68.0%
ADBE Adobe Inc. 0.00% 830 $419K Add +2.5%
WFG West Fraser Timber Co. Ltd. 0.00% 4,740 $410K Reduce -34.2%
CAT Caterpillar Inc. 0.00% 1,072 $393K Reduce -2.3%
BAM Brookfield Asset Mgmt-A 0.00% 9,232 $388K Reduce -33.4%
TXN Texas Instruments Inc. 0.00% 2,225 $388K Reduce -72.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.00% 3,139 $384K Reduce -9.4%
ROST Ross Stores Inc. 0.00% 2,584 $379K Reduce -9.6%
HIG Hartford Insurance Group Inc. 0.00% 3,600 $371K No change
APD Air Products & Chemicals Inc. 0.00% 1,500 $363K Reduce -71.0%
AVGO Broadcom Inc. 0.00% 268 $355K Reduce -4.3%
MRSH Marsh & McLennan Cos 0.00% 1,700 $350K No change
VLO Valero Energy Corp. 0.00% 1,992 $340K Reduce -4.8%
ITW Illinois Tool Works 0.00% 1,262 $339K No change
WCN Waste Connections Inc. 0.00% 1,784 $307K Reduce -82.7%
B Barrick Gold Corp. 0.00% 17,654 $294K New
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.00% 3,114 $275K No change
LULU Lululemon Athletica Inc. 0.00% 700 $273K Reduce -2.8%
CAH Cardinal Health Inc. 0.00% 2,250 $252K Reduce -8.2%
TRV The Travelers Cos Inc. 0.00% 1,040 $239K New
CSCO Cisco Systems Inc. 0.00% 4,750 $237K Reduce -8.7%
UNP Union Pacific Corp. 0.00% 944 $232K Reduce -69.3%
AOS Smith (a.o.) Corp. 0.00% 2,494 $223K No change
MKC McCormick & Co.-Non VTG SHRS 0.00% 2,700 $207K Reduce -81.5%
VLTO Veralto Corp. 0.00% 2,339 $207K Reduce -88.4%
BIDU Baidu Inc. - Spon ADR 0.00% 1,946 $205K No change
SNY Sanofi-ADR 0.00% 4,200 $204K Reduce -62.5%
BEP Brookfield Renewable Partner 0.00% 8,767 $204K Reduce -19.2%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.00% 1,050 $201K Reduce -58.0%
SVM Silvercorp Metals Inc. 0.00% 31,500 $103K No change
ABEV Ambev SA-ADR 0.00% 37,738 $94K No change
Other holdings (2): bonds, preferreds, convertibles and warrants · $1.0M (not counted above)
SecurityClassShares / PrincipalValueChange
ISTB iShares Core 1-5 Year Usd Bo CORE 1 5 YR USD · principal 17,403$826KAdd +43.5%
IGIB iShares 5-10Y Inv Grade Corp. ISHS 5-10YR INVT · principal 4,096$211KNo change

Total filed on the 13F, all lines: $17.4B.

Portfolio Sells Q4 2023 → Q1 2024

SHOP Shopify Inc. Class A Reduce -22.4% 1.67% −0.57
OTEX Open Text Corp. Reduce -3.0% 3.33% −0.50
STN Stantec Inc. Reduce -15.7% 2.60% −0.47
BKNG Booking Holdings Inc. Reduce -79.5% 0.12% −0.46
DSGX The Descartes Systems Grp Reduce -23.2% 1.75% −0.40
GIB Cgi Inc. Reduce -11.9% 2.98% −0.40
TRI Thomson Reuters Corp. Reduce -13.5% 3.33% −0.39
VTI VG Morningstar TS MKT ETF-US Sold out 0.00% −0.35
MGA Magna International Inc. Reduce -3.1% 2.11% −0.32
BERY Berry Global Group Inc. Reduce -96.7% 0.01% −0.28
QSR Restaurant Brands Intern Reduce -4.0% 3.08% −0.17
CIGI Colliers Intl GR-Subord Vot Reduce -3.6% 1.55% −0.16
BN Brookfield Corp. Reduce -3.7% 5.21% −0.13
CNI Canadian Natl Railway Co. Reduce -3.5% 6.43% −0.12
TRP TC Energy Corp. Reduce -3.1% 2.94% −0.10
TD Toronto-Dominion Bank Reduce -4.1% 0.64% −0.10
OZK Bank Ozk Reduce -7.5% 0.39% −0.08
AX Axos Financial Inc. Reduce -21.1% 0.20% −0.06
RY Royal Bank of Canada Reduce -1.0% 1.29% −0.05
VRSK Verisk Analytics Inc. Reduce -11.4% 0.28% −0.05
ACN Accenture PLC Class A Reduce -0.2% 0.99% −0.04
JNJ Johnson & Johnson Reduce -4.0% 0.59% −0.03
BCE Bce Inc. Reduce -24.6% 0.06% −0.03
CYBR Cyberark Software Ltd./Israel Reduce -26.1% 0.23% −0.03
ZTS Zoetis Inc. Reduce -8.4% 0.10% −0.03
NTR Nutrien Ltd. Reduce -18.2% 0.09% −0.03
ENB Enbridge Inc. Reduce -2.0% 0.57% −0.03
LCII Lci Industries Reduce -2.0% 0.38% −0.03
TU Telus Corp. Reduce -11.0% 0.09% −0.03
AAPL Apple Inc. Reduce -15.6% 0.06% −0.02
DEO Diageo PLC-Sponsored ADR Reduce -2.9% 0.60% −0.02
ABT Abbott Laboratories Reduce -2.0% 1.36% −0.02
V Visa Inc. Class A Reduce -53.1% 0.02% −0.02
MMM 3M Co. Reduce -22.9% 0.03% −0.01
CMCSA Comcast Corp. Class A Reduce -6.9% 0.11% −0.01
CP Canadian Pacific Kansas City Reduce -33.0% 0.03% −0.01
NKE Nike Inc. Class B Reduce -9.5% 0.04% −0.01
KO The Coca-Cola Co. Reduce -21.5% 0.04% −0.01
MNST Monster Beverage Corp. Reduce -2.7% 0.36% −0.01
VLTO Veralto Corp. Reduce -88.4% 0.00% −0.01
EFA iShares MSCI Eafe ETF Reduce -57.0% 0.01% −0.01
HD Home Depot Inc. Reduce -51.9% 0.01% −0.01
WCN Waste Connections Inc. Reduce -82.7% 0.00% −0.01
TECK Teck Resources Ltd.-CLS B Sold out 0.00% −0.01
USB US Bancorp Reduce -34.4% 0.01% −0.01
PFE Pfizer Inc. Reduce -10.1% 0.04% −0.01
MCD McDonald's Corp. Reduce -11.3% 0.03% −0.01
TMO Thermo Fisher Scientific Inc. Sold out 0.00% −0.01
APD Air Products & Chemicals Inc. Reduce -71.0% 0.00% −0.01
MET Metlife Inc. Reduce -35.0% 0.01% −0.01

Portfolio Buys Q4 2023 → Q1 2024

BMO Bank of Montreal Add +1117.2% 2.15% +1.96
SITE Siteone Landscape Supply Inc. New 0.44% +0.44
CAE Cae Inc. Add +26.7% 2.60% +0.39
PEG Public Service Enterprise GP Add +12233.7% 0.26% +0.26
PEP Pepsico Inc. Add +14.2% 1.46% +0.19
CB Chubb Ltd. Add +4.6% 1.06% +0.15
FNV Franco-Nevada Corp. Add +0.9% 2.38% +0.12
SHV iShares 0-1 Year Treasury Bo New 0.11% +0.11
DHR Danaher Corp. Add +0.9% 0.83% +0.05
SFBS Servisfirst Bancshares Inc. Add +51.1% 0.15% +0.05
BDX Becton Dickinson and Co. Add +3.6% 1.27% +0.03
TFPM Triple Flag Precious Met Add +113.0% 0.05% +0.03
NU Nu Holdings Ltd./Cayman Isl-A Add +0.9% 0.05% +0.01
SGOV iShares 0-3 Month Treasury B New 0.01% +0.01
UL Unilever PLC Add +3.3% 0.19% +0.01
CM Can Imperial BK of Commerce Add +46.9% 0.01% +0.00
BAP Credicorp Ltd. Add +0.4% 0.04% +0.00
ALYAF Alithya Group Inc. Class A Add +6.2% 0.02% +0.00
IMO Imperial Oil Ltd. Add +6.4% 0.02% +0.00
CME Cme Group Inc. Add +2.0% 0.19% +0.00
B Barrick Gold Corp. New 0.00% +0.00
ING ING Groep N.V.-Sponsored ADR Add +18.2% 0.01% +0.00
SLF Sun Life Financial Inc. Add +0.0% 0.07% +0.00
TRV The Travelers Cos Inc. New 0.00% +0.00
CVE Cenovus Energy Inc. Add +68.0% 0.00% +0.00
NGG National Grid PLC-SP ADR Add +11.4% 0.01% +0.00
INFY Infosys Ltd.-SP ADR Add +9.4% 0.03% +0.00
AZN Astrazeneca PLC-Spons ADR Add +19.7% 0.01% +0.00
IHG Intercontinental Hotels-ADR Add +1.8% 0.00% +0.00
ADBE Adobe Inc. Add +2.5% 0.00% −0.00
RCI Rogers Communications Inc. Class B Add +1.3% 0.00% −0.00
XP XP Inc. Class A Add +1.0% 0.04% −0.00
ATS Ats Corp. Add +0.1% 0.01% −0.00
MDLZ Mondelez International Inc. Class A Add +0.1% 0.51% −0.03
HDB HDFC Bank Ltd.-ADR Add +6.9% 0.53% −0.08
UNH Unitedhealth Group Inc. Add +0.3% 1.86% −0.16

Notes & Other Activity Q4 2023 → Q1 2024

ISTB iShares Core 1-5 Year Usd Bo CORE 1 5 YR USD · principal Add +43.5% 17,403 $826K
SHV iShares 0-1 Year Treasury Bo TRUST ISHARE 0-1 · principal Sold out 3,518 $387Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q3 2025 188$18.2BBN, TD, CNI, OTEX, BMO
Q2 2025 184$17.5BCNI, BN, TD, BMO, MSFT
Q1 2025 181$15.9BCNI, BN, TD, BMO, CAE
Q4 2024 186$17.1BBN, CNI, BMO, BNS, CAE
Q3 2024 188$17.9BCNI, BN, BNS, MSFT, TRI
Q2 2024 183$16.5BCNI, BN, MSFT, TRI, BNS
Q1 2024Amended 194$17.4BCNI, BN, MSFT, BNS, TRI