SEC 13F Intelligence

Managers / Q4 2020 · view latest →

Beutel, Goodman & Co Ltd.

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

Reported Value
$14.8B
Q4 2020
Positions
67
Filings on Record
35
2019–present window
Filed
Feb 5, 2021
original filing

Summary

Beutel, Goodman & Co Ltd. reported $14.8B in U.S.-listed holdings across 67 positions for Q4 2020.

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

Compared with Q3 2020, the fund opened 2 new positions and exited 3.

Portfolio Metrics

Turnover
+3.1%
vs prior filed quarter
Top-10 Concentration
+47.1%
share of reported value
Largest Position
+8.6%
Toronto Dominion Bk
New / Exited
2 / 3
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% · $13.6B
  • Other · 8.0% · $1.2B
  • ETP · 0.0% · $3M
  • ADR · 0.0% · $47,000

Quarter-over-Quarter Changes full breakdown →

vs Q3 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
QSRRestaurant Brands InternationalNEW+3.65M3.65M+$223M$223M
EBAYEbay IncNEW+3.36M3.36M+$169M$169M
LYBLyondellBasell IndustriesSOLD OUT−2.4K0−$165,000$0
BCEBCE IncSOLD OUT−5450−$22,000$0
CVECenovus EnergySOLD OUT−100+$0$0
TTTrane TechnologiesTRIMMED−532.4K3.0K−$64M$434,000
BlackRock IncTRIMMED−210.7K1.3K−$119M$917,000
KLACKLA CorporationTRIMMED−192.8K1.3K−$37M$323,000

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

Holdings — Q4 2020

67 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1TDToronto Dominion Bkhistory →Common8.59%$1.3B22.48M
2RYRoyal Bank Cdahistory →Common7.99%$1.2B14.37M
3RCIRogers Communicationshistory →Class B Non VTG5.99%$884M18.98M
4MGAMagna Intl Inchistory →Common4.20%$620M8.75M
5Brookfield Asset MgtClass A Ltd Vtg4.02%$593M14.38M
6SLFSun Life Fncl Inchistory →Common3.89%$575M12.93M
7NTRNutrien Ltdhistory →Common3.80%$562M11.66M
8BMOBank of Montrealhistory →Common3.00%$443M5.83M
9CAECAE Inchistory →Common2.98%$440M15.87M
10CNICdn Natl Railwayhistory →Common2.66%$392M3.57M
11OTEXOpen Text Corphistory →Common2.59%$382M8.41M
12Cdn Pacific RailwayCommon2.06%$305M879.4K
13TUTelus Corphistory →Common2.04%$301M15.22M
14ORCLOracle Corphistory →Common1.91%$282M4.36M
15CCJCameco Corphistory →Common1.89%$280M20.86M
16AMPAmeriprise Financialhistory →Common1.82%$269M1.39M
17AXPAmerican Express Cohistory →Common1.78%$263M2.18M
18OMCOmnicom Group Inchistory →Common1.77%$261M4.19M
19TECKTeck Resources Ltdhistory →Class B Sub VTG1.72%$255M14.03M
20IRIngersoll-Rand PLChistory →Class A1.64%$242M5.32M
21VZVerizon Communicatiohistory →Common1.62%$239M4.06M
22AMGNAmgen Inchistory →Common1.60%$237M1.03M
23CMCSAComcast Corphistory →Common1.60%$236M4.51M
24KELKellogg Cohistory →Common1.58%$233M3.75M
25CNQCdn Natural Reshistory →Common1.57%$232M9.64M
26CORAmerisource-Bergenhistory →Common1.52%$224M2.29M
27DOXAmdocs Ltdhistory →Ordinary1.52%$224M3.15M
28QSRRestaurant Brands Internationalhistory →Common1.51%$223M3.65M
29HOGHarley Davidson Inchistory →Common1.39%$205M5.60M
30MFCManulife Fincl Corphistory →Common1.32%$196M10.98M
31WABWestinghouse Air Brake Technologieshistory →Common1.31%$194M2.64M
32GENNortonLifeLockhistory →Common1.30%$192M9.24M
33FLSFlowserve Corphistory →Common1.30%$191M5.19M
34SUSuncor Energy Inchistory →Common1.29%$191M11.37M
35BNSBank of Nova Scotiahistory →Common1.15%$170M3.14M
36EBAYEbay Inchistory →Common1.14%$169M3.36M
37MRKMerck & Co Inchistory →Common1.13%$166M2.03M
38CPBCampbell Soup Cohistory →Common1.10%$162M3.35M
39TE ConnectivityReg Shs1.00%$147M1.22M
40Thomson Reuters CorpCommon0.93%$137M1.67M
41CMICummins Inchistory →Common0.87%$128M562.9K
42FNVFranco Nevada Corphistory →Common0.83%$122M973.4K
43KMBKimberly Clark Corphistory →Common0.72%$106M789.4K
44AZOAutoZone Inchistory →Common0.68%$100M84.4K
45PPGPPG Industrieshistory →Common0.67%$99M684.1K
46SEICSEI Investmentshistory →Common0.65%$96M1.67M
47JPMJPMorgan Chase & Cohistory →Common0.56%$83M652.6K
48CIGIColliers Intlhistory →Sub Vtg0.56%$82M921.2K
49AGIAlamos Gold Inhistory →Class A0.50%$73M8.40M
50PHParker Hannifin Corphistory →Common0.36%$53M195.6K
51FSVFirstServicehistory →Common0.19%$28M206.1K
52DNNDenison Mines Corphistory →Common0.08%$13M19.25M
53CRH Medical CorpCommon0.08%$12M5.35M
54EFAiShares MSCI EAFE ETFETF0.02%$3M41.9K
55BlackRock IncCommon0.01%$917,0001.3K
56TTTrane TechnologiesCommon0.00%$434,0003.0K
57BRK/ABerkshire HathawayClass A0.00%$347,0001
58KLACKLA CorporationCommon USD0.0010.00%$323,0001.3K
59ETNEaton CorporationCommon0.00%$303,0002.5K
60CMCanadian Imperial BkCommon0.00%$83,000980
61FTSFortis IncCommon0.00%$81,0002.0K
62TRPTC EnergyCommon0.00%$50,0001.3K
63SNNSmith & NephewADR (2 ORD)0.00%$47,0001.1K
64GOOGAlphabetClass C0.00%$45,00026
65GlaxoSmithKlineSponsored ADR0.00%$44,0001.2K
66PEPPepsiCoCommon0.00%$17,000120
67TAPMolson Coors BrewingClass B0.00%$2,00061

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 ↗.