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Jarislowsky, Fraser Ltd

13F for September 30, 2025, filed October 21, 2025 · SEC CIK 1123778 · Holdings history from December 31, 2000

The latest available holdings for this manager are dated September 30, 2025.

Reported value
$18.2bn
82% in companies we cover
Positions we cover
152
Largest TD 5.2%
Copy, a year
+8.9%
S&P 500 +14.1%
Copy Sharpe ratio
0.48
S&P 500 0.78

Copy-performance statistics: August 16, 2013 to January 30, 2026. Holdings history can start earlier than the price data used for performance.

Historical holdings

Holdings across the available history, including securities outside our stock coverage. Select a date to view the holdings for that period.

Related reporting managers

SEC notices identify these reporting relationships. Each manager retains its own holdings history; changes in reporting scope can involve several managers.

192 reported entries for September 30, 2025.

IssuerClass / typeReported valueQuantity
Rogers Communications Inc - B775109200 Common Stock $836,307 24,288
Ross Stores Inc.778296103 · ROST Common Stock $331,295 2,174
Royal Bank of Canada780087102 · RY Common Stock $242.6m 1,645,780
SAP AG ADR803054204 · SAP ADR $44.1m 165,093
Sea Ltd81141R100 · SE ADR $15.5m 86,522
ServisFirst Bancshares Inc81768T108 · SFBS Common Stock $24.4m 303,115
Shell PLC - ADR780259305 · SHEL ADR $1.1m 15,220
Shopify Inc. Class - A82509L107 · SHOP Common Stock $722.4m 4,861,383
SiteOne Landscape Supply Inc82982L103 · SITE Common Stock $204,019 1,584
Smith & Nephew Plc ADR83175M205 ADR $622,373 17,150
Sony Corp. ADR835699307 ADR $722,110 25,082
SPDR Gold Trust78463V107 ETP $1.1m 2,989
SPDR S&P 500 ETF Trust78462F103 ETP $27.5m 41,279
Stantec Inc85472N109 · STN Common Stock $440.3m 4,082,124
Sun Life Financial Inc.866796105 · SLF Common Stock $3.7m 61,475
Suncor Energy Inc.867224107 · SU Common Stock $4.9m 118,134
Taiwan Semiconductor Manufactng ADR874039100 · TSM ADR $206.6m 739,611
TC Energy Corp.87807B107 · TRP Common Stock $584.7m 10,751,401
Teck Resources Limited - B878742204 Common Stock $529,108 12,059
TELUS Corp87971M103 · TU Common Stock $10.2m 645,207
Texas Instruments Incorporated882508104 · TXN Common Stock $408,799 2,225
TFI International Inc.87241L109 · TFII Common Stock $281.8m 3,201,844
The Sherwin-Williams Company824348106 · SHW Common Stock $120.0m 346,536
Thomson Reuters Corp884903808 Common Stock $448.3m 2,886,701
TJX Companies Inc.872540109 · TJX Common Stock $128.5m 888,931
Toronto-Dominion Bank891160509 · TD Common Stock $938.0m 11,728,785
TotalEnergies SE - ADR89151E109 ADR $2.9m 48,301
Trane Technologies plcG8994E103 · TT Common Stock $238,407 565
Travelers Companies Inc.89417E109 · TRV Common Stock $290,388 1,040
Trip.com Group Ltd - ADR89677Q107 · TCOM Common Stock $12.5m 166,860
Triple Flag Precious Metals Corp89679M104 · TFPM Common Stock $13.0m 443,713
Unilever Plc ADR904767704 ADR $40.1m 676,812
Union Pacific Corporation907818108 · UNP Common Stock $237,079 1,003
UnitedHealth Group Incorporated91324P102 · UNH Common Stock $229.5m 664,655
US Bancorp902973304 · USB Common Stock $386,156 7,990
Valero Energy Corporation91913Y100 · VLO Common Stock $339,157 1,992
Verisk Analytics Inc - A92345Y106 · VRSK Common Stock $21.8m 86,669
Visa Inc - A92826C839 · V Common Stock $1.9m 5,427
Walmart Inc.931142103 · WMT Common Stock $1.4m 13,659
Waste Connections Inc.94106B101 · WCN Common Stock $595,033 3,384
Wells Fargo & Company949746101 · WFC Common Stock $1.0m 12,000
West Fraser Timber Co. Ltd.952845105 · WFG Common Stock $381,731 5,614
Xcel Energy Inc.98389B100 · XEL Common Stock $2.8m 35,000
XP IncG98239109 · XP Common Stock $205,731 10,949
Yum China Holdings Inc98850P109 · YUMC Common Stock $5.4m 126,474
Zimmer Biomet Holdings Inc98956P102 · ZBH Common Stock $1.0m 10,250
Zoetis Inc.98978V103 · ZTS Common Stock $11.2m 76,698
3M Company88579Y101 · MMM Common Stock $515,973 3,325
Abbott Laboratories002824100 · ABT Common Stock $289.1m 2,158,089
Abbvie Inc00287Y109 · ABBV Common Stock $20.6m 88,873
Accenture PlcG1151C101 · ACN Common Stock $132.1m 535,794
Adobe Inc.00724F101 · ADBE Common Stock $305,128 865
Aflac Incorporated001055102 · AFL Common Stock $1.3m 11,600
Agnico Eagle Mines Limited008474108 · AEM Common Stock $998,314 5,926
Alcon Inc.H01301128 · ALC Common Stock $17.2m 230,438
Allstate Corporation020002101 · ALL Common Stock $2.4m 11,081
Alphabet Inc - A02079K305 · GOOGL Common Stock $262.5m 1,079,717
Alphabet Inc - C02079K107 Common Stock $262.8m 1,078,837
Altria Group Inc.02209S103 · MO Common Stock $614,358 9,300
Amazon.Com Inc023135106 · AMZN Common Stock $435.1m 1,981,602
Ambev SA ADR02319V103 · ABEV ADR $160,450 71,951
American Financial Group Inc/OH025932104 · AFG Common Stock $53.9m 369,784
AMETEK Inc031100100 · AME Common Stock $115.6m 614,702
Apple Inc.037833100 · AAPL Common Stock $11.4m 44,738
ASML Holding NV-NY Reg ShsN07059210 · ASML NY Reg Shrs $60.7m 62,723
Astrazeneca PLC046353108 · AZN ADR $1.5m 19,548
ATS Corp00217Y104 · ATS Common Stock $8.8m 334,904
Autodesk Inc052769106 · ADSK Common Stock $18.8m 59,225
Automatic Data Processing Inc.053015103 · ADP Common Stock $15.4m 52,462
Axos Financial Inc05465C100 · AX Common Stock $32.4m 382,183
Baidu Inc. Sponsored ADR056752108 · BIDU ADR $232,442 1,764
Bank of Montreal063671101 · BMO Common Stock $760.4m 5,833,830
Bank of Nova Scotia064149107 · BNS Common Stock $80.4m 1,242,357
Bank OZK06417N103 Common Stock $84.5m 1,658,271
Barrick Mining Corp06849F108 · B Common Stock $1.5m 46,306
BCE Inc.05534B760 · BCE Common Stock $4.7m 199,725
Becton Dickinson and Company075887109 · BDX Common Stock $175.0m 935,130
Berkshire Hathaway Inc - A084670108 Common Stock $1.5m 2
Berkshire Hathaway Inc - B084670702 Common Stock $111.4m 221,593
Booking Holdings Inc09857L108 · BKNG Common Stock $8.8m 1,634
Boston Scientific Corporation101137107 · BSX Common Stock $214.1m 2,192,794
Broadcom Inc11135F101 · AVGO Common Stock $138.9m 420,881
Brookfield Corp11271J107 Common Stock $1.0bn 14,806,245
Brown-Forman Corp - A115637100 · BF.B Common Stock $355,212 13,200
Brown-Forman Corp - B115637209 · BF.B Common Stock $353,583 13,057
Brp Inc. / ca Sub Voting05577W200 Common Stock $3.2m 52,687
Cadence Design Systems Inc127387108 · CDNS Common Stock $106.6m 303,436
CAE Inc.124765108 · CAE Common Stock $620.3m 20,943,262
Canadian Imperial Bank of Commerce136069101 · CM Common Stock $4.4m 55,674
Canadian National Railway Company136375102 Common Stock $836.8m 8,871,249
Canadian Natural Resources136385101 · CNQ Common Stock $2.1m 66,366
Canadian Pacific Kansas City Ltd13646K108 · CP Common Stock $5.2m 69,573
Cardinal Health Inc.14149Y108 · CAH Common Stock $313,920 2,000
Caterpillar Inc.149123101 · CAT Common Stock $336,390 705
CDW Corp/DE12514G108 · CDW Common Stock $310,436 1,949
Cenovus Energy Inc.15135U109 · CVE Common Stock $449,605 26,474
CGI Inc.12532H104 Common Stock $359.4m 4,033,813
Chevron Corporation166764100 · CVX Common Stock $5.1m 32,600
Chubb LimitedH1467J104 · CB Common Stock $78.7m 278,658
Cintas Corporation172908105 · CTAS Common Stock $656,832 3,200

Values use the units disclosed in the source. Where a dollar scale cannot be established, the original amount is shown as filed. Rows may include separate allocations, options and principal amounts; these are kept separate from the covered-stock portfolio used for performance.

How copying its 13F would have done

$10.0k$20.0k$40.0k 2013201520172019202120232025 $51.8k$29.0k
CopyS&P 500 $10,000 copying Jarislowsky, Fraser Ltd's usable filed holdings in companies we cover from August 16, 2013, rebalancing at the first weekly close after each usable filing and holding until the next, against the S&P 500 (total return). Missing prices carry their last observed value. Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −39.1% (S&P 500 −31.8%); beta 0.96; alpha −4.0% a year (t = −1.98); last 12 months +13.6% against +15.2%.

Reported value by quarter

Jarislowsky, Fraser Ltd: 13F reported value Total reported value where the source's dollar units can be established. Earlier filings in thousands of dollars are converted; dates with unresolved value units are omitted.
$0 $10B $20B $30B Reported value, 2001-03-31: $7.3B Reported value, 2013-06-30: $16.5B Reported value, 2013-09-30: $17.1B Reported value, 2013-12-31: $17.8B Reported value, 2014-03-31: $17.2B Reported value, 2014-06-30: $17.9B Reported value, 2014-09-30: $16.7B Reported value, 2014-12-31: $16.2B Reported value, 2015-03-31: $15B Reported value, 2015-06-30: $14.7B Reported value, 2015-09-30: $13.3B Reported value, 2015-12-31: $13.2B Reported value, 2016-03-31: $14.3B Reported value, 2016-06-30: $14.4B Reported value, 2016-09-30: $14.8B Reported value, 2016-12-31: $15.6B Reported value, 2017-03-31: $15.8B Reported value, 2017-06-30: $15.8B Reported value, 2017-09-30: $16.7B Reported value, 2017-12-31: $17.2B Reported value, 2018-03-31: $16.1B Reported value, 2018-06-30: $16.7B Reported value, 2018-09-30: $16.1B Reported value, 2018-12-31: $14.5B Reported value, 2019-03-31: $16B Reported value, 2019-06-30: $16.5B Reported value, 2019-09-30: $17.8B Reported value, 2019-12-31: $18.9B Reported value, 2020-03-31: $13.7B Reported value, 2020-06-30: $16B Reported value, 2020-09-30: $17B Reported value, 2020-12-31: $19.6B Reported value, 2021-03-31: $20.3B Reported value, 2021-06-30: $21.4B Reported value, 2021-09-30: $20.5B Reported value, 2021-12-31: $21.5B Reported value, 2022-03-31: $18.8B Reported value, 2022-06-30: $15.7B Reported value, 2022-09-30: $14.4B Reported value, 2022-12-31: $15.3B Reported value, 2023-03-31: $16.2B Reported value, 2023-06-30: $16.8B Reported value, 2023-09-30: $15.4B Reported value, 2023-12-31: $17B Reported value, 2024-03-31: $17.4B Reported value, 2024-06-30: $16.5B Reported value, 2024-09-30: $17.9B Reported value, 2024-12-31: $17.1B Reported value, 2025-03-31: $16B Reported value, 2025-06-30: $17.5B Reported value, 2025-09-30: $18.2B 2001-03-31 2015-09-30 2018-03-31 2020-09-30 2023-03-31 2025-09-30 $18.2B
View chart data
Period Reported value
2001-03-31 $7.3B
2013-06-30 $16.5B
2013-09-30 $17.1B
2013-12-31 $17.8B
2014-03-31 $17.2B
2014-06-30 $17.9B
2014-09-30 $16.7B
2014-12-31 $16.2B
2015-03-31 $15B
2015-06-30 $14.7B
2015-09-30 $13.3B
2015-12-31 $13.2B
2016-03-31 $14.3B
2016-06-30 $14.4B
2016-09-30 $14.8B
2016-12-31 $15.6B
2017-03-31 $15.8B
2017-06-30 $15.8B
2017-09-30 $16.7B
2017-12-31 $17.2B
2018-03-31 $16.1B
2018-06-30 $16.7B
2018-09-30 $16.1B
2018-12-31 $14.5B
2019-03-31 $16B
2019-06-30 $16.5B
2019-09-30 $17.8B
2019-12-31 $18.9B
2020-03-31 $13.7B
2020-06-30 $16B
2020-09-30 $17B
2020-12-31 $19.6B
2021-03-31 $20.3B
2021-06-30 $21.4B
2021-09-30 $20.5B
2021-12-31 $21.5B
2022-03-31 $18.8B
2022-06-30 $15.7B
2022-09-30 $14.4B
2022-12-31 $15.3B
2023-03-31 $16.2B
2023-06-30 $16.8B
2023-09-30 $15.4B
2023-12-31 $17B
2024-03-31 $17.4B
2024-06-30 $16.5B
2024-09-30 $17.9B
2024-12-31 $17.1B
2025-03-31 $16B
2025-06-30 $17.5B
2025-09-30 $18.2B

Latest covered holdings and moves

Covered holdings as of September 30, 2025.

CompanyShare of portfolioValueSharesChange in shares
TDToronto Dominion Bank5.16%$938.0m11.73M−2.2% Reduced
OTEXOpen Text Corp4.35%$790.7m21.15M+0.6% Added
BMOBank Of Montreal4.18%$760.4m5.83M−8.8% Reduced
SHOPShopify Inc.3.97%$722.4m4.86M−4.4% Reduced
MSFTMicrosoft Corporation3.64%$661.8m1.28M−8.6% Reduced
CAECAE Inc3.41%$620.3m20.94M−3.7% Reduced
TRPTC Energy Corp3.21%$584.7m10.75M−4.4% Reduced
FNVFranco Nevada Corp3.01%$548.3m2.46M−12.0% Reduced
STNStantec Inc2.42%$440.3m4.08M−17.8% Reduced
AMZNAmazon2.39%$435.1m1.98M−1.5% Reduced
GILGildan Activewear Inc.2.17%$395.7m6.85M−7.6% Reduced
PBAPembina Pipeline Corp1.96%$356.5m8.81M+1894.9% Added
ORCLOracle Corporation1.89%$343.3m1.22M−14.5% Reduced
CIGIColliers International Group Inc.1.82%$331.0m2.12M−16.5% Reduced
MAMastercard1.71%$311.5m547.7K−2.7% Reduced
ABTAbbott Laboratories1.59%$289.1m2.16M−1.7% Reduced
TFIITFI International Inc.1.55%$281.8m3.20M−3.1% Reduced
JPMJPMorgan Chase1.52%$277.0m878.3K−5.2% Reduced
GOOGLAlphabet Inc. (Class A)1.44%$262.5m1.08M−11.2% Reduced
IBKRInteractive Brokers1.41%$256.3m3.72M−11.7% Reduced
RYRoyal Bank Of Canada1.33%$242.6m1.65M−17.0% Reduced
DSGXDescartes Systems Group Inc1.28%$233.9m2.48M−4.7% Reduced
UNHUnitedHealth Group1.26%$229.5m664.7K−0.7% Reduced
BSXBoston Scientific1.18%$214.1m2.19M−3.4% Reduced
QSRRestaurant Brands International Inc.1.15%$209.4m3.26M−4.3% Reduced
TSMTaiwan Semiconductor Manufacturing Co LTD1.14%$206.6m739.6K−0.1%
RBARB Global Inc.1.07%$195.6m1.81MNew
FISVFiserv1.07%$194.5m1.51M+9.1% Added
PEPPepsiCo1.00%$182.9m1.30M+0.1%
BDXBecton Dickinson0.96%$175.0m935.1K−0.7% Reduced
METAMeta Platforms0.95%$173.0m235.6K+36.2% Added
IQVIQVIA0.82%$149.2m785.7K−0.9% Reduced
CPRTCopart0.77%$140.0m3.11M−2.6% Reduced
AVGOBroadcom0.76%$138.9m420.9K−0.8% Reduced
ACNAccenture0.73%$132.1m535.8K−3.1% Reduced
TJXTJX Companies0.71%$128.5m888.9K−0.6% Reduced
SHWSherwin-Williams0.66%$120.0m346.5K−2.8% Reduced
AMEAmetek0.64%$115.6m614.7K−1.6% Reduced
HDBHdfc Bank LTD0.62%$113.3m3.32M+82.7% Added
DHRDanaher Corporation0.60%$109.9m554.2K−2.1% Reduced
CDNSCadence Design Systems Inc0.59%$106.6m303.4K−0.9% Reduced
MFCManulife Financial Corp0.56%$102.0m3.27M−3.2% Reduced
GWREGuidewire Software, Inc.0.56%$101.1m440.0K−1.2% Reduced
MDLZMondelez International0.53%$97.0m1.55M+8.9% Added
INTUIntuit0.50%$90.5m132.5KNew
PEGPublic Service Enterprise Group0.47%$85.6m1.03M+107.1% Added
ENBEnbridge Inc0.46%$84.3m1.67M−2.9% Reduced
JNJJohnson & Johnson0.46%$83.5m450.5K−4.7% Reduced
BNSBank Of Nova Scotia0.44%$80.4m1.24M−8.9% Reduced
CBChubb Limited0.43%$78.7m278.7K−2.9% Reduced
MNSTMonster Beverage0.40%$72.3m1.07M−1.4% Reduced
PGProcter & Gamble0.34%$62.1m404.4K−4.2% Reduced
ASMLAsml Holding NV0.33%$60.7m62.7K+0.3%
AFGAmerican Financial Group Inc0.30%$53.9m369.8K−1.0% Reduced
CMECME Group0.26%$47.3m175.2K−2.2% Reduced
SAPSAP SE0.24%$44.1m165.1K+14.2% Added
COSTCostco0.22%$40.6m43.8K−6.0% Reduced
CLColgate-Palmolive0.18%$33.5m418.4K−6.6% Reduced
AXAxos Financial, Inc.0.18%$32.4m382.2K−1.2% Reduced
CACCCredit Acceptance Corp0.18%$32.3m69.2K−1.8% Reduced
SFBSServisfirst Bancshares, Inc.0.13%$24.4m303.1K−1.0% Reduced
PGRProgressive Corporation0.12%$22.5m91.3K−1.0% Reduced
LCIILCI Industries0.12%$22.1m237.0K−1.0% Reduced
VRSKVerisk Analytics, Inc.0.12%$21.8m86.7K−11.6% Reduced
ABBVAbbVie0.11%$20.6m88.9K+0.1%
ADSKAutodesk, Inc.0.10%$18.8m59.2K−82.7% Reduced
ALCAlcon Inc0.09%$17.2m230.4K−1.7% Reduced
LLYLilly (Eli)0.09%$15.5m20.3K−1.1% Reduced
SESea Ltd0.09%$15.5m86.5K−3.3% Reduced
ADPAutomatic Data Processing0.09%$15.4m52.5K−14.9% Reduced
MELIMercadolibre Inc0.08%$14.4m6.2K+0.5%
TFPMTriple Flag Precious Metals Corp.0.07%$13.0m443.7K−15.7% Reduced
TCOMTrip.com Group Ltd0.07%$12.5m166.9K−2.5% Reduced
AAPLApple Inc.0.06%$11.4m44.7K−14.6% Reduced
ZTSZoetis0.06%$11.2m76.7K−8.1% Reduced
NTRNutrien Ltd.0.06%$10.7m181.7K−1.0% Reduced
NUNu Holdings Ltd.0.06%$10.4m651.8K+0.4%
TUTelus Corp0.06%$10.2m645.2K−1.5% Reduced
BKNGBooking Holdings0.05%$8.8m1.6K−4.4% Reduced
ATSATS Corp0.05%$8.8m334.9K−11.7% Reduced
NVDANVIDIA Corporation0.05%$8.4m45.0K+518.7% Added
HLNHaleon plc0.04%$7.4m821.0K+12.5% Added
EMREmerson Electric0.03%$6.0m45.5K0.0%
CMCSAComcast0.03%$5.6m176.7K−9.7% Reduced
YUMCYum China Holdings, Inc.0.03%$5.4m126.5K+0.1%
CPCanadian Pacific Kansas City LTD0.03%$5.2m69.6K+12.0% Added
CVXChevron Corporation0.03%$5.1m32.6K0.0%
SUSuncor Energy Inc0.03%$4.9m118.1K+7.1% Added
BCEBCE Inc0.03%$4.7m199.7K+12.7% Added
CMCanadian Imperial Bank Of Commerce0.02%$4.4m55.7K+21.3% Added
MCDMcDonald's0.02%$4.1m13.6K−3.1% Reduced
KOThe Coca-Cola Company0.02%$3.9m58.7K−1.7% Reduced
SLFSUN Life Financial Inc0.02%$3.7m61.5K+4.6% Added
PFEPfizer0.02%$3.6m141.0K−0.9% Reduced
DUKDuke Energy0.02%$3.0m24.4K0.0%
XELXcel Energy0.02%$2.8m35.0K0.0%
CVSCVS Health0.01%$2.8m36.8K−3.4% Reduced
MRKMerck & Co.0.01%$2.8m32.9K−3.7% Reduced
NKENike, Inc.0.01%$2.7m38.5K−5.9% Reduced
NVONovo Nordisk A S0.01%$2.6m46.2K−35.7% Reduced
IMOImperial OIL LTD0.01%$2.5m27.7K+2.7% Added
KMBKimberly-Clark0.01%$2.4m19.3K−1.0% Reduced
ALLAllstate0.01%$2.4m11.1K−0.4%
JDJd.com, Inc.0.01%$2.3m66.8K−11.2% Reduced
CNQCanadian Natural Resources Ltd0.01%$2.1m66.4K+32.6% Added
VVisa Inc.0.01%$1.9m5.4K−9.3% Reduced
EOGEOG Resources0.01%$1.7m15.5K0.0%
LINLinde plc0.01%$1.7m3.6K−0.3%
BBarrick Mining Corp0.01%$1.5m46.3K+40.7% Added
AZNAstrazeneca PLC0.01%$1.5m19.5K+13.2% Added
WMTWalmart0.01%$1.4m13.7K−1.5% Reduced
HDThe Home Depot0.01%$1.3m3.2K0.0%
AFLAflac0.01%$1.3m11.6K0.0%
IFFInternational Flavors & Fragrances0.01%$1.1m18.0K−5.3% Reduced
SHELShell plc0.01%$1.1m15.2K−2.6% Reduced
ZBHZimmer Biomet0.01%$1.0m10.3K0.0%
WFCWells Fargo0.01%$1.0m12.0K+4.3% Added
AEMAgnico Eagle Mines LTD0.01%$998,3145.9K+24.1% Added
MGAMagna International Inc0.01%$980,33220.7K+21.0% Added
PMPhilip Morris International0.01%$932,6505.8K0.0%
BF.BBrown–Forman0.00%$708,79526.3K−1.9% Reduced
FTSFortis Inc.0.00%$676,01813.3K+1.7% Added
MDTMedtronic0.00%$666,2037.0K−0.3%
CTASCintas0.00%$656,8323.2K0.0%
LOWLowe's0.00%$642,0972.6K−17.0% Reduced
MOAltria0.00%$614,3589.3K0.0%
WCNWaste Connections, Inc.0.00%$595,0333.4K+26.4% Added
METMetLife0.00%$554,7616.7K−51.1% Reduced
MMM3M0.00%$515,9733.3K−7.6% Reduced
MRSHMarsh McLennan0.00%$468,1542.3K0.0%
CVECenovus Energy Inc.0.00%$449,60526.5K+61.4% Added
TXNTexas Instruments0.00%$408,7992.2K−3.7% Reduced
MTBM&T Bank0.00%$387,3352.0K−9.0% Reduced
USBU.S. Bancorp0.00%$386,1568.0K−28.4% Reduced
WFGWest Fraser Timber Co., LTD0.00%$381,7315.6K+56.4% Added
HLTHilton Worldwide0.00%$374,8901.4K0.0%
VLOValero Energy0.00%$339,1572.0K0.0%
CATCaterpillar Inc.0.00%$336,3907050.0%
ROSTRoss Stores0.00%$331,2952.2K0.0%
CAHCardinal Health0.00%$313,9202.0K0.0%
CDWCDW Corporation0.00%$310,4361.9K0.0%
ADBEAdobe Inc.0.00%$305,1288650.0%
TRVThe Travelers Companies0.00%$290,3881.0K0.0%
ITWIllinois Tool Works0.00%$276,9271.1K0.0%
DDominion Energy0.00%$265,2334.3K0.0%
FASTFastenal0.00%$240,0994.9K0.0%
TTTrane Technologies0.00%$238,407565−5.8% Reduced
UNPUnion Pacific Corporation0.00%$237,0791.0K0.0%
BIDUBaidu, Inc.0.00%$232,4421.8KNew
XPXP Inc.0.00%$205,73110.9K−96.6% Reduced
CompanyBought (value)Shares
PBAPembina Pipeline Corp$338.6m8.37M
RBARB Global Inc.$195.6m1.81M
INTUIntuit$90.5m132.5K
HDBHdfc Bank LTD$51.3m1.50M
METAMeta Platforms$46.0m62.6K
PEGPublic Service Enterprise Group$44.3m530.2K
FISVFiserv$16.2m125.5K
MDLZMondelez International$8.0m127.4K
NVDANVIDIA Corporation$7.0m37.8K
SAPSAP SE$5.5m20.5K
OTEXOpen Text Corp$4.4m117.4K
HLNHaleon plc$815,40990.9K
CMCanadian Imperial Bank Of Commerce$780,9649.8K
CPCanadian Pacific Kansas City LTD$553,4117.4K
BCEBCE Inc$527,60322.6K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanySold (value)Shares
STNStantec Inc−$95.1m−881.9K
ADSKAutodesk, Inc.−$89.8m−282.8K
FNVFranco Nevada Corp−$74.4m−334.3K
BMOBank Of Montreal−$73.8m−566.3K
CIGIColliers International Group Inc.−$65.2m−417.0K
MSFTMicrosoft Corporation−$62.0m−119.8K
ORCLOracle Corporation−$58.0m−206.2K
SITESiteone Landscape Supply, Inc.−$54.0m−419.5K
RYRoyal Bank Of Canada−$49.8m−337.5K
IBKRInteractive Brokers−$33.9m−492.1K
GOOGLAlphabet Inc. (Class A)−$33.0m−135.8K
SHOPShopify Inc.−$32.9m−221.6K
GILGildan Activewear Inc.−$32.6m−564.0K
TRPTC Energy Corp−$26.8m−493.0K
CAECAE Inc−$23.9m−805.5K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanyValue last quarterShares
AMDAdvanced Micro Devices$219,6611.5K
  • Technology24.7%
  • Financials24.2%
  • Industrials12.6%
  • Health Care9.0%
  • Consumer Discretionary8.3%
  • Energy7.0%
  • Materials4.7%
  • Consumer Staples3.4%
  • Communication Services3.2%
  • Real Estate2.2%
  • Utilities0.6%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestAugust 16, 2013 to January 30, 2026+8.9%+14.1%0.480.78−39.1%0.96
2018 onwardsJanuary 5, 2018 to January 30, 2026+9.4%+13.9%0.430.66−39.1%0.95
Last three yearsFebruary 3, 2023 to January 30, 2026+16.0%+20.5%0.801.03−12.3%0.85
Last yearJanuary 31, 2025 to January 30, 2026+13.8%+16.4%0.680.74−11.9%0.78

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.