Managers / Q1 2019 · view latest →
Beutel, Goodman & Co Ltd.
CIK 0001361974 · 20 EGLINTON AVENUE WEST, SUITE 2000, TORONTO, A6, M4R 1K8 · 416-485-1010
Reported Value
$26.5B
Q1 2019
Positions
163
includes revealed positions
Filings on Record
35
2019–present window
Filed
Apr 26, 2019
original filing
Summary
Beutel, Goodman & Co Ltd. reported $26.5B in U.S.-listed holdings across 163 positions for Q1 2019.
Its largest position, RY, represents 9.9% of the portfolio.
Portfolio Metrics
Top-10 Concentration
+59.9%
share of reported value
Largest Position
+9.9%
Royal Bank Cda
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
13F Reported Value
Portfolio Composition
By security type
- Common Stock · 91.4% · $24.3B
- Other · 8.6% · $2.3B
Quarter-over-Quarter Changes full breakdown →
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| RYROYAL BANK CDAREVEALED | NEW | +34.68M | 34.68M | +$2.6B | $2.6B |
| TDTORONTO DOMINION BKREVEALED | NEW | +45.73M | 45.73M | +$2.5B | $2.5B |
| RCIROGERS COMMUNICATIONREVEALED | NEW | +40.58M | 40.58M | +$2.2B | $2.2B |
| BROOKFIELD ASSET MGTREVEALED | NEW | +30.71M | 30.71M | +$1.4B | $1.4B |
| NTRNUTRIEN LTDREVEALED | NEW | +25.43M | 25.43M | +$1.3B | $1.3B |
| BNSBANK OF NOVA SCOTIAREVEALED | NEW | +24.75M | 24.75M | +$1.3B | $1.3B |
| CNQCDN NATURAL RESREVEALED | NEW | +46.48M | 46.48M | +$1.3B | $1.3B |
| MGAMAGNA INTL INCREVEALED | NEW | +25.32M | 25.32M | +$1.2B | $1.2B |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2019REVEALED
82 positions (from 163 filing rows — )
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | RYROYAL BANK CDAREVEALEDhistory → | COMMON | 9.86% | $2.6B | 34.68M |
| 2 | TDTORONTO DOMINION BKREVEALEDhistory → | COMMON | 9.35% | $2.5B | 45.73M |
| 3 | RCIROGERS COMMUNICATIONREVEALEDhistory → | CLASS B NON VTG | 8.22% | $2.2B | 40.58M |
| 4 | BROOKFIELD ASSET MGTREVEALED | CLASS A LTD VTG | 5.39% | $1.4B | 30.71M |
| 5 | NTRNUTRIEN LTDREVEALEDhistory → | COMMON | 5.05% | $1.3B | 25.43M |
| 6 | BNSBANK OF NOVA SCOTIAREVEALEDhistory → | COMMON | 4.96% | $1.3B | 24.75M |
| 7 | CNQCDN NATURAL RESREVEALEDhistory → | COMMON | 4.81% | $1.3B | 46.48M |
| 8 | MGAMAGNA INTL INCREVEALEDhistory → | COMMON | 4.65% | $1.2B | 25.32M |
| 9 | SLFSUN LIFE FNCL INCREVEALEDhistory → | COMMON | 4.11% | $1.1B | 28.42M |
| 10 | BMOBANK OF MONTREALREVEALEDhistory → | COMMON | 3.48% | $924M | 12.36M |
| 11 | CNICDN NATL RAILWAYREVEALEDhistory → | COMMON | 3.03% | $803M | 8.97M |
| 12 | OTEXOPEN TEXT CORPREVEALEDhistory → | COMMON | 2.86% | $759M | 19.77M |
| 13 | TUTELUS CORPREVEALEDhistory → | COMMON | 2.21% | $588M | 15.88M |
| 14 | CCJCAMECO CORPREVEALEDhistory → | COMMON | 1.90% | $506M | 42.90M |
| 15 | CDN PACIFIC RAILWAYREVEALED | COMMON | 1.78% | $473M | 2.30M |
| 16 | VZVERIZON COMMUNICATIOREVEALEDhistory → | COMMON | 1.72% | $457M | 10.32M |
| 17 | FNVFRANCO NEVADA CORPREVEALEDhistory → | COMMON | 1.67% | $444M | 5.92M |
| 18 | CVECENOVUS ENERGYREVEALEDhistory → | COMMON | 1.45% | $385M | 44.39M |
| 19 | OMCOMNICOM GROUP INCREVEALEDhistory → | COMMON | 1.33% | $354M | 6.48M |
| 20 | KELKELLOGG COREVEALEDhistory → | COMMON | 1.26% | $334M | 7.79M |
| 21 | PHPARKER HANNIFIN CORPREVEALEDhistory → | COMMON | 1.23% | $326M | 2.54M |
| 22 | AXPAMERICAN EXPRESS COREVEALEDhistory → | COMMON | 1.11% | $295M | 3.61M |
| 23 | ORCLORACLE CORPREVEALEDhistory → | COMMON | 1.04% | $276M | 6.86M |
| 24 | CORAMERISOURCE-BERGENREVEALEDhistory → | COMMON | 1.03% | $273M | 4.60M |
| 25 | MFCMANULIFE FINCL CORPREVEALEDhistory → | COMMON | 1.00% | $265M | 15.68M |
| 26 | KLACKLA-TENCOR CORPREVEALEDhistory → | COMMON | 0.98% | $261M | 2.92M |
| 27 | CMCSACOMCAST CORPREVEALEDhistory → | CLASS A | 0.98% | $260M | 8.71M |
| 28 | CMCANADIAN IMPERIAL BKREVEALEDhistory → | COMMON | 0.93% | $247M | 3.13M |
| 29 | KMBKIMBERLY CLARK CORPREVEALEDhistory → | COMMON | 0.92% | $245M | 2.64M |
| 30 | DOXAMDOCS LTDREVEALEDhistory → | ORDINARY | 0.89% | $236M | 5.84M |
| 31 | AMPAMERIPRISE FINANCIALREVEALEDhistory → | COMMON | 0.82% | $218M | 2.28M |
| 32 | THOMSON REUTERS CORPREVEALED | COMMON | 0.80% | $211M | 3.57M |
| 33 | HOGHARLEY DAVIDSON INCREVEALEDhistory → | COMMON | 0.79% | $210M | 7.87M |
| 34 | AMGNAMGEN INCREVEALEDhistory → | COMMON | 0.78% | $208M | 1.46M |
| 35 | SYMANTEC CORPREVEALED | COMMON | 0.68% | $181M | 10.52M |
| 36 | CPBCAMPBELL SOUP COREVEALEDhistory → | COMMON | 0.64% | $169M | 5.91M |
| 37 | CMICUMMINS INCREVEALEDhistory → | COMMON | 0.63% | $166M | 1.41M |
| 38 | HALHALLIBURTONREVEALEDhistory → | COMMON | 0.61% | $161M | 7.35M |
| 39 | CIGICOLLIERS INTLREVEALEDhistory → | SUB VTG | 0.60% | $159M | 2.38M |
| 40 | AZOAUTOZONE INCREVEALEDhistory → | COMMON | 0.58% | $153M | 199.9K |
| 41 | BLACKROCK INCREVEALED | COMMON | 0.51% | $137M | 427.0K |
| 42 | LYBLYONDELLBASELL INDUSREVEALEDhistory → | SHARES A | 0.50% | $132M | 2.11M |
| 43 | FLSFLOWSERVE CORPREVEALEDhistory → | COMMON | 0.46% | $121M | 3.58M |
| 44 | AGIALAMOS GOLD INREVEALEDhistory → | CLASS A | 0.38% | $100M | 19.72M |
| 45 | JPMJPMORGAN CHASE & COREVEALEDhistory → | COMMON | 0.37% | $98M | 1.29M |
| 46 | INGERSOLL-RAND PLCREVEALED | CLASS A | 0.35% | $93M | 1.15M |
| 47 | MRKMERCK & CO INCREVEALEDhistory → | COMMON | 0.26% | $69M | 1.10M |
| 48 | WFCWELLS FARGO & COREVEALEDhistory → | COMMON | 0.25% | $67M | 1.84M |
| 49 | FIRSTSERVICE CORPREVEALED | COMMON SUB-VTG | 0.24% | $63M | 709.0K |
| 50 | LLYLILLY ELI & COREVEALEDhistory → | COMMON | 0.19% | $51M | 529.7K |
| 51 | DNNDENISON MINES CORPREVEALEDhistory → | COMMON | 0.10% | $25M | 49.87M |
| 52 | CRH MEDICAL CORPREVEALED | COMMON | 0.09% | $25M | 9.45M |
| 53 | TAPMOLSON COORS BREWINGREVEALEDhistory → | CLASS B | 0.08% | $22M | 494.2K |
| 54 | SUSUNCOR ENERGY INCREVEALEDhistory → | COMMON | 0.04% | $10M | 323.7K |
| 55 | BCEBCE INCREVEALED | COMMON | 0.02% | $5M | 104.2K |
| 56 | AURORA CANNABISREVEALED | COMMON | 0.01% | $1M | 150.4K |
| 57 | QSRRESTAURANT BRANDSREVEALED | COMMON | 0.00% | $1M | 15.7K |
| 58 | TRANSCANADA CORPREVEALED | COMMON | 0.00% | $558,000 | 12.4K |
| 59 | TECKTECK RESOURCES LTDREVEALED | CLASS B SUB VTG | 0.00% | $504,000 | 21.8K |
| 60 | ENBENBRIDGE INCREVEALED | COMMON | 0.00% | $488,000 | 13.5K |
| 61 | ETNEATON CORPORATIONREVEALED | COMMON | 0.00% | $412,000 | 6.8K |
| 62 | GIBCGI INCREVEALED | CLASS A SUB VTG | 0.00% | $376,000 | 5.5K |
| 63 | KIRKLAND LAKE GOLDREVEALED | COMMON | 0.00% | $234,000 | 7.7K |
| 64 | WCNWASTE CONNECTIONSREVEALED | COMMON | 0.00% | $202,000 | 2.3K |
| 65 | MEOHMETHANEX CORPREVEALED | COMMON | 0.00% | $174,000 | 3.1K |
| 66 | FTSFORTIS INCREVEALED | COMMON | 0.00% | $148,000 | 4.0K |
| 67 | NORBORD INCREVEALED | COMMON | 0.00% | $142,000 | 5.2K |
| 68 | WPMWHEATON PRECIOUS METREVEALED | COMMON | 0.00% | $124,000 | 5.2K |
| 69 | SHAW COMMUNICATIONSREVEALED | CLASS B NON VTG | 0.00% | $120,000 | 5.7K |
| 70 | BTGB2GOLD CORPREVEALED | COMMON | 0.00% | $112,000 | 39.8K |
| 71 | GILGILDAN ACTIVEWEARREVEALED | COMMON | 0.00% | $112,000 | 3.1K |
| 72 | CELESTICA INCREVEALED | SUB VTG | 0.00% | $112,000 | 13.4K |
| 73 | IMOIMPERIAL OIL LTDREVEALED | COMMON | 0.00% | $96,000 | 3.5K |
| 74 | RITCHIE BROS AUCTNRSREVEALED | COMMON | 0.00% | $82,000 | 2.4K |
| 75 | BHCBAUSCH HEALTH COMPANREVEALED | COMMON | 0.00% | $76,000 | 3.0K |
| 76 | SHOPSHOPIFY INCREVEALED | CLASS A | 0.00% | $70,000 | 342 |
| 77 | ENCANA CORPORATIONREVEALED | COMMON | 0.00% | $62,000 | 8.5K |
| 78 | STNSTANTEC INCREVEALED | COMMON | 0.00% | $54,000 | 2.3K |
| 79 | GOOGALPHABET INCREVEALED | CLASS C | 0.00% | $52,000 | 60 |
| 80 | GRAN TIERRA ENERGYREVEALED | COMMON | 0.00% | $42,000 | 18.2K |
| 81 | ENERPLUS CORPREVEALED | COMMON | 0.00% | $26,000 | 3.1K |
| 82 | AEMAGNICO EAGLE MINESREVEALED | COMMON | 0.00% | $8,000 | 192 |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $14.8B | 170 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $16.3B | 174 | Feb 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $16.6B | 177 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $17.6B | 176 | Aug 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $17.4B | 205 | May 14, 2025 | RESTATEMENT | changes · EDGAR ↗ |
| Q4 2024 | $18.4B | 86 | Feb 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $20.3B | 89 | Nov 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $18.8B | 77 | Aug 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $19.4B | 75 | May 14, 2024 | RESTATEMENT | changes · EDGAR ↗ |
| Q4 2023 | $18.9B | 76 | Feb 9, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $16.9B | 75 | Nov 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $17.8B | 75 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $17.0B | 74 | May 12, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $16.5B | 76 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $14.8B | 73 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $16.1B | 69 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $17.7B | 69 | May 12, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $17.5B | 67 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $16.3B | 66 | Nov 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $16.8B | 65 | Aug 13, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $15.9B | 64 | May 14, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $14.8B | 67 | Feb 5, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $12.4B | 68 | Nov 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $12.2B | 67 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $10.7B | 64 | May 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $17.4B | 70 | Feb 24, 2020 | RESTATEMENT | changes · EDGAR ↗ |
| Q3 2019 | $14.3B | 64 | Dec 23, 2019 | RESTATEMENT | changes · EDGAR ↗ |
| Q2 2019 | $13.8B | 61 | Aug 15, 2019 | RESTATEMENT | changes · EDGAR ↗ |
| Q1 2019REVEALED | $26.5B | 163 | Apr 26, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.