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Institutional Investment Manager
JARISLOWSKY, FRASER Ltd
JARISLOWSKY, FRASER Ltd (CIK: 0001123778), located at 1010 Sherbrooke Street West, Montreal, A8. Institutional holdings reported to the SEC.

Institutional Holdings (2014Q3)
Portfolio Summary: 137 holdings with a total value of $16,662,140,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 TORONTO DOMINION BK ONT 27,620,034 1,365,987,000 8.20%
2 ROYAL BK CDA MONTREAL QUE 17,820,252 1,276,462,000 7.66%
3 BANK N S HALIFAX 18,294,782 1,133,980,000 6.81%
4 SUNCOR ENERGY INC NEW 22,640,377 821,094,000 4.93%
5 CANADIAN NATL RY CO 11,481,837 816,894,000 4.90%
6 CANADIAN NAT RES LTD 18,387,994 715,906,000 4.30%
7 MANULIFE FINL CORP 32,797,569 632,150,000 3.79%
8 CENOVUS ENERGY INC 22,693,489 611,833,000 3.67%
9 ENBRIDGE INC 12,372,977 593,544,000 3.56%
10 POTASH CORP SASK INC 15,415,236 534,922,000 3.21%
11 THOMSON REUTERS CORP 14,103,988 514,914,000 3.09%
12 OPEN TEXT CORP 7,838,089 434,494,000 2.61%
13 TIM HORTONS INC 3,438,061 271,310,000 1.63%
14 JOHNSON & JOHNSON 2,393,751 255,149,000 1.53%
15 TALISMAN ENERGY INC. 28,939,023 250,923,000 1.51%
16 CAMECO CORP 13,922,986 246,179,000 1.48%
17 PROCTER AND GAMBLE CO 2,542,564 212,914,000 1.28%
18 VERMILION ENERGY INC 3,478,452 212,214,000 1.27%
19 PEPSICO INC 2,050,695 190,899,000 1.15%
20 EXXON MOBIL CORP 1,980,449 186,261,000 1.12%
21 COLGATE PALMOLIVE CO 2,764,433 180,296,000 1.08%
22 CAE INC 14,116,569 171,538,000 1.03%
23 WELLS FARGO & CO NEW 3,266,437 169,430,000 1.02%
24 JPMORGAN CHASE & CO 2,721,743 163,957,000 0.98%
25 TRANSCANADA CORP 3,162,036 163,201,000 0.98%
26 Walgreens 2,606,982 154,515,000 0.93%
27 METLIFE INC 2,775,191 149,083,000 0.89%
28 CVS HEALTH CORP 1,858,691 147,933,000 0.89%
29 INTERNATIONAL BUSINESS MACHS 753,139 142,968,000 0.86%
30 Allergan plc 788,853 140,565,000 0.84%
31 EMERSON ELEC CO 2,237,848 140,044,000 0.84%
32 3M CO 967,347 137,053,000 0.82%
33 PEMBINA PIPELINE CORP 3,005,283 126,875,000 0.76%
34 PHILIP MORRIS INTL INC 1,517,499 126,559,000 0.76%
35 ORACLE CORP 3,263,115 124,912,000 0.75%
36 GENERAL ELECTRIC CO 4,277,204 109,581,000 0.66%
37 FISERV INC 1,694,526 109,525,000 0.66%
38 BECTON DICKINSON & CO 926,170 105,407,000 0.63%
39 EOG RES INC 1,049,796 103,950,000 0.62%
40 TIME WARNER INC NEW 694,851 99,704,000 0.60%
41 STANTEC INC 1,490,245 97,718,000 0.59%
42 CHEVRON CORP NEW 815,752 97,335,000 0.58%
43 US BANCORP DEL 2,245,758 93,940,000 0.56%
44 PFIZER INC 3,137,086 92,763,000 0.56%
45 VERISK ANALYTICS INC 1,510,518 91,975,000 0.55%
46 DIAGEO P L C 751,412 86,712,000 0.52%
47 AUTOMATIC DATA PROCESSING IN 1,160,390 84,573,000 0.51%
48 ROYAL DUTCH SHELL PLC 1,050,487 79,973,000 0.48%
49 DESCARTES SYS GROUP INC COM 5,599,507 77,212,000 0.46%
50 ANHEUSER BUSCH INBEV SA/NV 629,537 69,784,000 0.42%
Page 1 of 3

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001123778-14-000013, filed 2014.11.12).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.