JARISLOWSKY, FRASER Ltd

13F filer, CIK 1123778, MONTREAL, Quebec, Canada

JARISLOWSKY, FRASER Ltd reported $17,007,025,143 across 221 holdings for the quarter ended 2023-12-31, in a 13F-HR/A filed 2024-09-30. Its ten largest share positions make up 39.63% of the portfolio.

Filed 2024-09-30 (acceptance time not in the bulk data set), ingested 2026-10-07 18:26:56 UTC13F-HR/A 0001123778-24-000016

Period: 2023-12-31
Reported value: $17B
Holdings: 221
Top 10 weight: 39.63%
New: 37
Sold out: 4

Largest buys vs the previous quarter

Security	Shares change	Approx. value
CAEadded	+3,843,611	$83.4M
VTInew	+247,900	$58.8M
ADSKnew	+234,709	$57.1M
FNVadded	+508,318	$56.6M
BNSadded	+542,398	$26.5M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

Security	Shares change	Approx. value
SHOPreduced	-2,822,947	-$221M
STNreduced	-1,017,723	-$82.1M
CNIreduced	-275,772	-$34.8M
AMZNreduced	-222,456	-$33.8M
GIBreduced	-284,747	-$30.7M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2023

Share positions as resolved from 13F-HR/A 0001123778-24-000016, largest first. % of portfolio is the value over $17,007,025,143, the sum of the share positions whose value is usable for ratios (method).

Security	Shares	Value	% of portfolio	Change	Timeline
CNICANADIAN NATL RY CO	8,819,461	$1.11B	6.55%	-275,772	Timeline
BNBROOKFIELD CORP	22,503,592	$907M	5.33%	-566,586	Timeline
OTEXOPEN TEXT CORP	15,391,557	$650M	3.82%	-520,648	Timeline
BNSBANK NOVA SCOTIA B C	13,163,545	$644M	3.79%	+542,398	Timeline
TRITHOMSON REUTERS CORP	4,303,591	$632M	3.72%	-154,059	Timeline
MSFTMICROSOFT CORP	1,663,576	$626M	3.68%	-51,973	Timeline
GIBCGI INC	5,347,324	$576M	3.38%	-284,747	Timeline
QSRRESTAURANT BRANDS INTL INC	7,041,995	$553M	3.25%	-240,887	Timeline
STNSTANTEC INC	6,456,847	$521M	3.06%	-1,017,723	Timeline
TRPTC ENERGY CORP	13,166,454	$517M	3.04%	-437,807	Timeline
MFCMANULIFE FINL CORP	20,715,602	$460M	2.7%	-935,863	Timeline
MGAMAGNA INTL INC	6,966,832	$414M	2.43%	-281,562	Timeline
GILGILDAN ACTIVEWEAR INC	11,882,800	$395M	2.32%	-574,011	Timeline
FNVFRANCO NEV CORP	3,444,848	$383M	2.25%	+508,318	Timeline
SHOPSHOPIFY INC	4,858,624	$380M	2.24%	-2,822,947	Timeline
CAECAE INC	17,334,635	$376M	2.21%	+3,843,611	Timeline
DSGXDESCARTES SYS GROUP INC	4,335,250	$366M	2.15%	-119,224	Timeline
AMZNAMAZON COM INC	2,342,493	$356M	2.09%	-222,456	Timeline
UNHUNITEDHEALTH GROUP INC	653,209	$344M	2.02%	-8,698	Timeline
MAMASTERCARD INCORPORATED	687,785	$293M	1.72%	-11,420	Timeline
CIGICOLLIERS INTL GROUP INC	2,297,479	$292M	1.72%	-65,548	Timeline
GOOGLALPHABET INC	1,716,759	$240M	1.41%	-91,919	Timeline
FISVFISERV INC	1,796,045	$239M	1.4%	-35,618	Timeline
ABTABBOTT LABORATORIES	2,122,405	$234M	1.37%	-58,487	Timeline
RYROYAL BK CDA	2,257,807	$229M	1.35%	-4,147	Timeline
CPRTCOPART INC	4,522,170	$222M	1.3%	-81,480	Timeline
PEPPEPSICO INC	1,270,905	$216M	1.27%	-10,206	Timeline
GOOGALPHABET INC	1,519,241	$214M	1.26%	-123,778	Timeline
BDXBECTON DICKINSON & CO	864,762	$211M	1.24%	-13,112	Timeline
JPMJPMORGAN CHASE & CO	1,145,563	$195M	1.15%	-2,967	Timeline
IQVIQVIA HLDGS INC	788,895	$183M	1.07%	-6,106	Timeline
ORCLORACLE CORP	1,700,596	$179M	1.05%	+19,633	Timeline
BSXBOSTON SCIENTIFIC CORP	3,028,215	$175M	1.03%	-56,630	Timeline
ACNACCENTURE PLC IRELAND	497,940	$175M	1.03%	-2,259	Timeline
CBCHUBB LIMITED	682,646	$154M	0.91%	-8,695	Timeline
IBKRINTERACTIVE BROKERS GROUP IN	1,811,804	$150M	0.88%	-16,269	Timeline
SHWSHERWIN WILLIAMS CO	425,326	$133M	0.78%	+1,868	Timeline
DHRDANAHER CORP DEL	572,858	$133M	0.78%	+55,908	Timeline
TDTORONTO DOMINION BK ONT	1,917,358	$124M	0.73%	-14,523	Timeline
AMEAMETEK INC	666,750	$110M	0.65%	-12,501	Timeline
JNJJOHNSON & JOHNSON	682,023	$107M	0.63%	-6,896	Timeline
DEODIAGEO PLC	720,064	$105M	0.62%	-2,608	Timeline
HDBHDFC BANK LTD	1,535,326	$103M	0.61%	+71,935	Timeline
ENBENBRIDGE INC	2,802,524	$101M	0.6%	-71,512	Timeline
BKNGBOOKING HOLDINGS INC	27,794	$98.6M	0.58%	-6,900	Timeline
TJXTJX COS INC NEW	1,048,065	$98.3M	0.58%	-4,766	Timeline
BRK-BBERKSHIRE HATHAWAY INC DEL	270,728	$96.6M	0.57%	-2,735	Timeline
PGPROCTER & GAMBLE CO	643,971	$94.4M	0.55%	-16,992	Timeline
GWREGUIDEWIRE SOFTWARE INC	864,172	$94.2M	0.55%	-88,860	Timeline
MDLZMONDELEZ INTL INC	1,256,615	$91M	0.54%	-4,310	Timeline
METAMETA PLATFORMS INC	231,704	$82M	0.48%	-9,023	Timeline
OZKBANK OZK LITTLE ROCK ARK	1,607,445	$80.1M	0.47%	-118,071	Timeline
LCIILCI INDS	550,700	$69.2M	0.41%	-38,908	Timeline
ELLAUDER ESTEE COS INC	456,163	$66.7M	0.39%	+178,520	Timeline
MNSTMONSTER BEVERAGE CORP NEW	1,103,174	$63.6M	0.37%	-26,462	Timeline
AFGAMERICAN FINANCIAL GROUP INC	504,747	$60M	0.35%	-13,391	Timeline
VTIVANGUARD INDEX FDS	247,900	$58.8M	0.35%	new	Timeline
ADSKAUTODESK INC	234,709	$57.1M	0.34%	new	Timeline
VRSKVERISK ANALYTICS INC	233,791	$55.8M	0.33%	-17,713	Timeline
RELXRELX PLC	1,314,583	$52.1M	0.31%	-5,410	Timeline
CLCOLGATE PALMOLIVE CO	630,312	$50.2M	0.3%	-37,966	Timeline
BERRY GLOBAL GROUP INCBERRY GLOBAL GROUP INC	722,017	$48.7M	0.29%	-16,979
COSTCOSTCO WHOLESALE CORPORATION	68,743	$45.4M	0.27%	-1,942	Timeline
AXAXOS FINANCIAL INC	825,667	$45.1M	0.27%	-18,691	Timeline
CYBERARK SOFTWARE LTD/ISRAELCYBERARK SOFTWARE LTD/ISRAEL	204,291	$44.7M	0.26%	-47,994
CACCCREDIT ACCEP CORP MICH	71,262	$38M	0.22%	+7,612	Timeline
TSMTAIWAN SEMICONDUCTOR MANUFAC	342,606	$35.6M	0.21%	-7,030	Timeline
CMECME GROUP INC	153,870	$32.4M	0.19%	+5,623	Timeline
BMOBANK OF MONTREAL	314,414	$31.3M	0.18%	-8,855	Timeline
UNILEVER PLCUNILEVER PLC	625,189	$30.3M	0.18%	+32,710
XOMEXXON MOBIL CORP	291,559	$29.2M	0.17%	+3,628	Timeline
ADPAUTOMATIC DATA PROCESSING IN	110,797	$25.8M	0.15%	-2,870	Timeline
SAPSAP SE	159,578	$24.7M	0.15%	-17,306	Timeline
PGRPROGRESSIVE CORP	145,196	$23.1M	0.14%	-27,733	Timeline
LLYELI LILLY & CO	38,670	$22.5M	0.13%	-728	Timeline
ABBVABBVIE INC	143,632	$22.3M	0.13%	+547	Timeline
SPYSTATE STR SPDR S&P 500 ETF T	46,406	$22.1M	0.13%	+1,060	Timeline
ZTSZOETIS INC	111,346	$22M	0.13%	-5,975	Timeline
ASMLASML HLDG NV	28,212	$21.4M	0.13%	-1,209	Timeline
CMCSACOMCAST CORP NEW	455,388	$20M	0.12%	-19,637	Timeline
NTRNUTRIEN LTD	340,744	$19.3M	0.11%	-7,055	Timeline
TUTELUS CORPORATION	1,075,068	$19.2M	0.11%	-17,180	Timeline
ALCALCON AG	239,574	$18.7M	0.11%	+3,407	Timeline
SFBSSERVISFIRST BANCSHARES INC	263,663	$17.6M	0.1%	-6,981	Timeline
PBAPEMBINA PIPELINE CORP	505,484	$17.5M	0.1%	-74,818	Timeline
BCEBCE INC	390,578	$15.5M	0.09%	-4,632	Timeline
AAPLAPPLE INC	67,405	$13M	0.08%	+6,114	Timeline
NVONOVO-NORDISK A S	123,732	$12.8M	0.08%	-9,550	Timeline
SLFSUN LIFE FINANCIAL INC.	231,027	$12M	0.07%	-4,031	Timeline
CVXCHEVRON CORPORATION	76,410	$11.4M	0.07%	-4,783	Timeline
CVSCVS HEALTH CORP	105,430	$8.32M	0.05%	-4,784	Timeline
MMM3M CO	73,660	$8.05M	0.05%	-5,423	Timeline
NKENIKE INC	73,640	$8M	0.05%	+2,059	Timeline
FMXFOMENTO ECONOMICO MEXICANO S	60,707	$7.91M	0.05%	-6,745	Timeline
KOCOCA COLA CO	132,804	$7.83M	0.05%	+16,483	Timeline
KMBKIMBERLY-CLARK CORP	63,025	$7.66M	0.05%	-3,700	Timeline
XPXP INC	282,418	$7.36M	0.04%	+9,280	Timeline
PFEPFIZER INC	251,097	$7.23M	0.04%	-21,905	Timeline
CPCANADIAN PACIFIC KANSAS CITY	89,644	$7.13M	0.04%	+34,856	Timeline
EMREMERSON ELEC CO	72,353	$7.04M	0.04%	-12,907	Timeline
TCOMTRIP COM GROUP LTD	184,272	$6.64M	0.04%	+8,255	Timeline
NVSNOVARTIS AG	64,046	$6.47M	0.04%	-2,993	Timeline
MCDMCDONALDS CORP	20,917	$6.2M	0.04%	+2,139	Timeline
NUNU HLDGS LTD	716,716	$5.97M	0.04%	-143,220	Timeline
SUSUNCOR ENERGY INC NEW	184,218	$5.93M	0.03%	+19,268	Timeline
BAPCREDICORP LTD	39,425	$5.91M	0.03%	+3,765	Timeline
YUMCYUM CHINA HLDGS INC	127,393	$5.41M	0.03%	+5,825	Timeline
VVISA INC	20,038	$5.22M	0.03%	+7,712	Timeline
MRKMERCK & CO INC	46,247	$5.04M	0.03%	-413	Timeline
INFYINFOSYS LTD	251,324	$4.62M	0.03%	+30,915	Timeline
ALLALLSTATE CORP	30,873	$4.32M	0.03%	0	Timeline
TOTALENERGIES SETOTALENERGIES SE	63,243	$4.26M	0.03%	-8,054
SESEA LTD	97,556	$3.95M	0.02%	+3,150	Timeline
TFPMTRIPLE FLAG PRECIOUS METAL	294,900	$3.95M	0.02%	+19,189	Timeline
ZBHZIMMER BIOMET HOLDINGS INC	31,773	$3.87M	0.02%	-50	Timeline
EOGEOG RES INC	31,454	$3.8M	0.02%	-3,661	Timeline
USBUS BANCORP	81,277	$3.52M	0.02%	-9,080	Timeline
PMPHILIP MORRIS INTL INC	36,600	$3.44M	0.02%	-4,550	Timeline
DUKDUKE ENERGY CORP NEW	35,483	$3.44M	0.02%	-500	Timeline
METMETLIFE INC	51,495	$3.41M	0.02%	-10,815	Timeline
ALYAFALITHYA GROUP INC CL A SUB VTG	2,181,151	$2.91M	0.02%	+117,016	Timeline
MOALTRIA GROUP INC	72,000	$2.9M	0.02%	-300	Timeline
XELXCEL ENERGY INC	45,950	$2.84M	0.02%	-150	Timeline
ATSATS CORPORATION	63,194	$2.74M	0.02%	+3,867	Timeline
SHELSHELL PLC	39,977	$2.63M	0.02%	-1,800	Timeline
PHPARKER-HANNIFIN CORP	5,707	$2.63M	0.02%	0	Timeline
HDHOME DEPOT INC	7,498	$2.6M	0.02%	+4,640	Timeline
BF-ABROWN FORMAN CORP	42,138	$2.51M	0.01%	-1,344	Timeline
EFAISHARES TR	32,875	$2.48M	0.01%	+18,875	Timeline
IFFINTERNATIONAL FLAVORS&FRAGRA	28,187	$2.28M	0.01%	-394	Timeline
NGGNATIONAL GRID PLC	33,341	$2.27M	0.01%	+1,849	Timeline
IMOIMPERIAL OIL LTD	39,573	$2.27M	0.01%	-5,000	Timeline
BF-BBROWN FORMAN CORP	35,263	$2.01M	0.01%	0	Timeline
CNQCANADIAN NAT RES LTD MED TER	28,144	$1.85M	0.01%	+18,452	Timeline
FTSFORTIS INC	40,604	$1.68M	0.01%	+9,532	Timeline
VLTOVERALTO CORP	20,189	$1.66M	0.01%	new	Timeline
AFLAFLAC INC	20,000	$1.65M	0.01%	-1,400	Timeline
WCNWASTE CONNECTIONS INC	10,280	$1.54M	0.01%	new	Timeline
WFCWELLS FARGO & CO	30,630	$1.51M	0.01%	-2,051	Timeline
SYKSTRYKER CORPORATION	4,886	$1.46M	0.01%	+2,057	Timeline
THE COOPER COMPANIESTHE COOPER COMPANIES	3,850	$1.46M	0.01%	0
MDTMEDTRONIC PLC	17,567	$1.45M	0.01%	+7,788	Timeline
APDAIR PRODUCTS AND CHEMICALS I	5,165	$1.41M	0.01%	+3,600	Timeline
TXNTEXAS INSTRS INC	8,025	$1.37M	0.01%	+5,800	Timeline
WMTWALMART INC	8,396	$1.32M	0.01%	-1,201	Timeline
CMCANADIAN IMPERIAL BANK OF CO	27,106	$1.31M	0.01%	-2,332	Timeline
TECKTECK RESOURCES LTD	28,574	$1.21M	0.01%	new	Timeline
HONHONEYWELL INTL INC	5,741	$1.2M	0.01%	+3,421	Timeline
DDOMINION ENERGY INC	25,568	$1.2M	0.01%	0	Timeline
GLDSPDR GOLD TR	6,046	$1.16M	0.01%	-2,271	Timeline
TMOTHERMO FISHER SCIENTIFIC INC	2,077	$1.1M	0.01%	new	Timeline
BRK-ABERKSHIRE HATHAWAY INC DEL	2	$1.09M	0.01%	0	Timeline
MTBM & T BK CORP	7,915	$1.08M	0.01%	-1,950	Timeline
DLTRDOLLAR TREE INC	7,585	$1.08M	0.01%	-2,485	Timeline
INGING GROEP N.V.	69,133	$1.04M	0.01%	-5,298	Timeline
SNNSMITH & NEPHEW PLC	36,684	$1M	0.01%	-5,050	Timeline
MKCMCCORMICK & CO INC	14,600	$999K	0.01%	+9,300	Timeline
TE CONNECTIVITY LTDTE CONNECTIVITY LTD	6,800	$955K	0.01%	new
CRMSALESFORCE INC	3,600	$947K	0.01%	new	Timeline
VZVERIZON COMMUNICATIONS INC	24,490	$923K	0.01%	-3,610	Timeline
AMTAMERICAN TOWER CORP	3,845	$830K	<0.01%	new	Timeline
LOWLOWES COS INC	3,700	$823K	<0.01%	0	Timeline
INTUINTUIT	1,311	$819K	<0.01%	new	Timeline
ELVELEVANCE HEALTH INC FORMERLY	1,715	$809K	<0.01%	new	Timeline
AZNASTRAZENECA PLC-SPONS ADR	11,763	$792K	<0.01%	-74	Timeline
MAAMID-AMER APT CMNTYS INC	5,854	$787K	<0.01%	new	Timeline
RCIROGERS COMMUNICATIONS INC	16,643	$783K	<0.01%	-1,927	Timeline
ECLECOLAB INC	3,900	$774K	<0.01%	new	Timeline
INTCINTEL CORP	15,242	$766K	<0.01%	new	Timeline
NEENEXTERA ENERGY INC	12,498	$759K	<0.01%	new	Timeline
UNPUNION PAC CORP	3,072	$755K	<0.01%	new	Timeline
BLACKROCK INCBLACKROCK INC	905	$735K	<0.01%	new
BACBANK OF AMER CORP	21,287	$717K	<0.01%	+2,575	Timeline
IHGINTERCONTINENTAL HOTELS GROU	7,553	$689K	<0.01%	-516	Timeline
RTXRTX CORPORATION	7,800	$656K	<0.01%	new	Timeline
WFGWEST FRASER TIMBER CO LTD	7,205	$619K	<0.01%	+4,205	Timeline
FSVFIRSTSERVICE CORP NEW	3,783	$613K	<0.01%	new	Timeline
CLXCLOROX CO DEL	4,000	$570K	<0.01%	0	Timeline
BAMBROOKFIELD ASSET MANAGMT LTD	13,865	$560K	<0.01%	-4,719	Timeline
SNYSANOFI SA	11,200	$557K	<0.01%	-4,200	Timeline
AWKAMERICAN WTR WKS CO INC NEW	4,127	$545K	<0.01%	new	Timeline
IBNICICI BK LTD	20,810	$496K	<0.01%	new	Timeline
CTASCINTAS CORP	802	$483K	<0.01%	+2	Timeline
ADBEADOBE INC	810	$483K	<0.01%	new	Timeline
BXBLACKSTONE INC	3,648	$478K	<0.01%	new	Timeline
RSGREPUBLIC SVCS INC	2,859	$471K	<0.01%	new	Timeline
UNITS-GRANITE REIT-STAPLUNITS-GRANITE REIT-STAPL	8,034	$465K	<0.01%	new
CDWCDW CORP	1,949	$443K	<0.01%	0	Timeline
IBMINTERNATIONAL BUSINESS MACHS	2,500	$409K	<0.01%	-700	Timeline
HLTHILTON WORLDWIDE HLDGS INC	2,176	$396K	<0.01%	-6,275	Timeline
ROSTROSS STORES INC	2,859	$396K	<0.01%	new	Timeline
ETNEATON CORP PLC	1,619	$390K	<0.01%	new	Timeline
NVDANVIDIA CORPORATION	755	$374K	<0.01%	+27	Timeline
AEPAMERICAN ELEC PWR CO INC	4,545	$369K	<0.01%	new	Timeline
LULULULULEMON ATHLETICA INC	720	$368K	<0.01%	0	Timeline
BUDANHEUSER BUSCH INBEV SA NV	5,270	$341K	<0.01%	-1,390	Timeline
PEGPUBLIC SVC ENTERPRISE GROUP	5,530	$338K	<0.01%	0	Timeline
ITWILLINOIS TOOL WKS INC	1,262	$331K	<0.01%	0	Timeline
TFCTRUIST FINL CORP	8,894	$328K	<0.01%	new	Timeline
CATCATERPILLAR INC	1,097	$324K	<0.01%	0	Timeline
KVUEKENVUE INC	15,025	$323K	<0.01%	new	Timeline
MRSHMARSH & MCLENNAN COS INC	1,700	$322K	<0.01%	0	Timeline
DISDISNEY WALT CO	3,465	$313K	<0.01%	+145	Timeline
AVGOBROADCOM INC	280	$313K	<0.01%	new	Timeline
HIGHARTFORD INSURANCE GROUP INC	3,600	$289K	<0.01%	0	Timeline
BEPBROOKFIELD RENEWABLE ENERGY	10,845	$286K	<0.01%	0	Timeline
VLOVALERO ENERGY CORP	2,092	$272K	<0.01%	+100	Timeline
CSCOCISCO SYS INC	5,205	$263K	<0.01%	-700	Timeline
CAHCARDINAL HEALTH INC	2,450	$247K	<0.01%	0	Timeline
BIDUBAIDU INC	1,946	$232K	<0.01%	new	Timeline
CVECENOVUS ENERGY INC	13,500	$226K	<0.01%	0	Timeline
WRBBERKLEY W R CORP	3,114	$220K	<0.01%	new	Timeline
HSBCHSBC HLDGS PLC	5,425	$220K	<0.01%	-4,890	Timeline
AEMAGNICO EAGLE MINES LTD	3,740	$206K	<0.01%	new	Timeline
AOSSMITH A O CORP	2,494	$206K	<0.01%	new	Timeline
EXPDEXPEDITORS INTL WASH INC	1,580	$201K	<0.01%	new	Timeline
ABEVAMBEV SA	37,738	$106K	<0.01%	+11,185	Timeline
SVMSILVERCORP METALS INC	31,500	$82.4K	<0.01%	0	Timeline

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

Security	Type	Amount	Value	Change
ISTBISHARES TR CORE 1 5 YR USD	principal	12,127	$577K	+1,747
SHVISHARES TR SHS	principal	3,518	$387K	+546
IGIBISHARES TR ISHS 5-10YR INVT	principal	4,096	$213K	new

Sold out in Q4 2023

Positions in the previous quarter's report that this quarter's report no longer lists.

Security	Shares before	Value before	Type
ABCAM PLCABCAM PLC	66,595	$1.51M	shares
BIPBROOKFIELD INFRASTRUCTURE PA	11,226	$331K	shares
DGXQUEST DIAGNOSTICS INC	1,735	$211K	shares
VODVODAFONE GROUP PLC	12,650	$120K	shares

How Q4 2023 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

Filing	Role	Amendment	Filed	Accepted	Ingested
13F-HR 0001123778-24-000009	superseded		2024-02-12	acceptance time not in the bulk data set	2026-10-07 18:29:43 UTC
13F-HR/A 0001123778-24-000016	base	restatement	2024-09-30	acceptance time not in the bulk data set	2026-10-07 18:26:56 UTC