SEC 13F Intelligence

Managers / Q2 2020 · view latest →

Beutel, Goodman & Co Ltd.

CIK 0001361974 · 20 EGLINTON AVENUE WEST, SUITE 2000, TORONTO, A6, M4R 1K8 · 416-485-1010

Reported Value
$12.2B
Q2 2020
Positions
67
Filings on Record
35
2019–present window
Filed
Aug 14, 2020
original filing

Summary

Beutel, Goodman & Co Ltd. reported $12.2B in U.S.-listed holdings across 67 positions for Q2 2020.

Its largest position, RY, represents 8.6% of the portfolio.

Compared with Q1 2020, the fund opened 4 new positions and exited 1.

Portfolio Metrics

Turnover
+5.9%
vs prior filed quarter
Top-10 Concentration
+49.0%
share of reported value
Largest Position
+8.6%
Royal Bank Cda
New / Exited
4 / 1
positions this quarter

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
Q1 ’19: $26.5BQ1 ’19Q2 ’19: $13.8BQ3 ’19: $14.3BQ4 ’19: $17.4BQ1 ’20: $10.7BQ1 ’20Q2 ’20: $12.2BQ3 ’20: $12.4BQ4 ’20: $14.8BQ1 ’21: $15.9BQ1 ’21Q2 ’21: $16.8BQ3 ’21: $16.3BQ4 ’21: $17.5BQ1 ’22: $17.7BQ1 ’22Q2 ’22: $16.1BQ3 ’22: $14.8BQ4 ’22: $16.5BQ1 ’23: $17.0BQ1 ’23Q2 ’23: $17.8BQ3 ’23: $16.9BQ4 ’23: $18.9BQ1 ’24: $19.4BQ1 ’24Q2 ’24: $18.8BQ3 ’24: $20.3BQ4 ’24: $18.4BQ1 ’25: $17.4BQ1 ’25Q2 ’25: $17.6BQ3 ’25: $16.6BQ4 ’25: $16.3BQ1 ’26: $14.8BQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 92.0%Other: 8.0%ETP: 0.0%ADR: 0.0%
  • Common Stock · 92.0% · $11.2B
  • Other · 8.0% · $973M
  • ETP · 0.0% · $3M
  • ADR · 0.0% · $69,000

Quarter-over-Quarter Changes full breakdown →

vs Q1 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CAECAE IncNEW+13.56M13.56M+$220M$220M
PPGPPG IndustriesNEW+1.21M1.21M+$128M$128M
WABWestinghouse Air Brake TechnologiesNEW+1.85M1.85M+$106M$106M
SEICSEI InvestmentsNEW+287.0K287.0K+$16M$16M
BCEBCE IncADDED+345547+$14,000$22,000
MRKMerck & Co IncADDED+880.9K1.55M+$68M$120M
Aurora CannabisSOLD OUT−150.0K0−$2M$0
WFCWells Fargo & CoTRIMMED−868.7K360−$25M$9,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q2 2020

67 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1RYRoyal Bank Cdahistory →Common8.57%$1.0B15.37M
2TDToronto Dominion Bkhistory →Common7.99%$973M21.81M
3RCIRogers Communicationshistory →Class B Non VTG6.61%$805M20.03M
4MGAMagna Intl Inchistory →Common4.49%$546M12.26M
5CNICdn Natl Railwayhistory →Common4.24%$515M5.82M
6SLFSun Life Fncl Inchistory →Common4.11%$500M13.62M
7Brookfield Asset MgtClass A Ltd Vtg4.09%$498M15.14M
8NTRNutrien Ltdhistory →Common3.24%$394M12.28M
9Cdn Pacific RailwayCommon2.92%$355M1.39M
10OTEXOpen Text Corphistory →Common2.76%$335M7.89M
11BMOBank of Montrealhistory →Common2.66%$324M6.10M
12TUTelus Corphistory →Common2.21%$269M16.06M
13ORCLOracle Corphistory →Common1.87%$227M4.11M
14CCJCameco Corphistory →Common1.85%$226M22.02M
15CAECAE Inchistory →Common1.80%$220M13.56M
16CORAmerisource-Bergenhistory →Common1.79%$218M2.16M
17KELKellogg Cohistory →Common1.68%$205M3.10M
18VZVerizon Communicatiohistory →Common1.68%$204M3.70M
19AMGNAmgen Inchistory →Common1.67%$203M859.5K
20AMPAmeriprise Financialhistory →Common1.66%$202M1.35M
21SUSuncor Energy Inchistory →Common1.66%$202M11.98M
22BNSBank of Nova Scotiahistory →Common1.64%$200M4.85M
23OMCOmnicom Group Inchistory →Common1.57%$192M3.51M
24DOXAmdocs Ltdhistory →Ordinary1.50%$183M3.01M
25CNQCdn Natural Reshistory →Common1.46%$177M10.17M
26BlackRock IncCommon1.44%$175M322.3K
27CMICummins Inchistory →Common1.41%$171M988.3K
28CMCSAComcast Corphistory →Common1.36%$166M4.26M
29AXPAmerican Express Cohistory →Common1.35%$165M1.73M
30KMBKimberly Clark Corphistory →Common1.30%$159M1.12M
31IRIngersoll-Rand PLChistory →Class A1.30%$159M5.64M
32MFCManulife Fincl Corphistory →Common1.30%$158M11.59M
33TECKTeck Resources Ltdhistory →Class B Sub VTG1.27%$154M14.82M
34FNVFranco Nevada Corphistory →Common1.18%$144M1.03M
35GENNortonLifeLockhistory →Common1.11%$135M6.81M
36CPBCampbell Soup Cohistory →Common1.06%$129M2.59M
37PPGPPG Industrieshistory →Common1.05%$128M1.21M
38HOGHarley Davidson Inchistory →Common1.03%$125M5.25M
39MRKMerck & Co Inchistory →Common0.99%$120M1.55M
40Thomson Reuters CorpCommon0.98%$120M1.76M
41PHParker Hannifin Corphistory →Common0.91%$111M607.4K
42WABWestinghouse Air Brake Technologieshistory →Common0.87%$106M1.85M
43AGIAlamos Gold Inhistory →Class A0.74%$90M9.63M
44AZOAutoZone Inchistory →Common0.74%$90M79.4K
45FLSFlowserve Corphistory →Common0.52%$64M2.23M
46CIGIColliers Intlhistory →Sub Vtg0.47%$57M1.00M
47JPMJPMorgan Chase & Cohistory →Common0.47%$57M608.0K
48KLACKLA Corporationhistory →Common USD0.0010.45%$55M282.5K
49TTTrane Technologieshistory →Common0.40%$49M550.3K
50FSVFirstServicehistory →Common0.25%$30M299.3K
51SEICSEI Investmentshistory →Common0.13%$16M287.0K
52CRH Medical CorpCommon0.07%$8M3.98M
53DNNDenison Mines CorpCommon0.06%$7M20.98M
54EFAIshaes MSCI EAFE ETFETF0.02%$3M41.9K
55TAPMolson Coors BrewingClass B0.01%$989,00028.8K
56BRK/ABerkshire HathawayClass A0.00%$267,0001
57ETNEaton CorporationCommon0.00%$221,0002.5K
58LYBLyondellBasell IndustriesShares A0.00%$154,0002.4K
59FTSFortis IncCommon0.00%$76,0002.0K
60SNNSmith & NephewADR (2 ORD)0.00%$69,0001.8K
61CMCanadian Imperial BkCommon0.00%$65,000980
62TRPTC EnergyCommon0.00%$53,0001.3K
63GOOGAlphabetClass C0.00%$36,00026
64BCEBCE IncCommon0.00%$22,000547
65PEPPepsiCoCommon0.00%$15,000120
66WFCWells Fargo & CoCommon0.00%$9,000360
67CVECenovus EnergyCommon0.00%$010

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$14.8B170May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$16.3B174Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$16.6B177Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$17.6B176Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$17.4B205May 14, 2025RESTATEMENTchanges · EDGAR ↗
Q4 2024$18.4B86Feb 12, 202513F-HRchanges · EDGAR ↗
Q3 2024$20.3B89Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$18.8B77Aug 13, 202413F-HRchanges · EDGAR ↗
Q1 2024$19.4B75May 14, 2024RESTATEMENTchanges · EDGAR ↗
Q4 2023$18.9B76Feb 9, 202413F-HRchanges · EDGAR ↗
Q3 2023$16.9B75Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$17.8B75Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$17.0B74May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$16.5B76Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$14.8B73Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$16.1B69Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$17.7B69May 12, 202213F-HRchanges · EDGAR ↗
Q4 2021$17.5B67Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$16.3B66Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$16.8B65Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$15.9B64May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$14.8B67Feb 5, 202113F-HRchanges · EDGAR ↗
Q3 2020$12.4B68Nov 13, 202013F-HRchanges · EDGAR ↗
Q2 2020$12.2B67Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$10.7B64May 14, 202013F-HRchanges · EDGAR ↗
Q4 2019$17.4B70Feb 24, 2020RESTATEMENTchanges · EDGAR ↗
Q3 2019$14.3B64Dec 23, 2019RESTATEMENTchanges · EDGAR ↗
Q2 2019$13.8B61Aug 15, 2019RESTATEMENTchanges · EDGAR ↗
Q1 2019REVEALED$26.5B163Apr 26, 201913F-HRchanges · 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 ↗.