SEC 13F Intelligence

Managers / Q2 2021 · view latest →

Beutel, Goodman & Co Ltd.

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

Reported Value
$16.8B
Q2 2021
Positions
65
Filings on Record
35
2019–present window
Filed
Aug 13, 2021
original filing

Summary

Beutel, Goodman & Co Ltd. reported $16.8B in U.S.-listed holdings across 65 positions for Q2 2021.

Its largest position, TD, represents 8.4% of the portfolio.

Compared with Q1 2021, the fund opened 2 new positions and exited 1.

Portfolio Metrics

Turnover
+7.4%
vs prior filed quarter
Top-10 Concentration
+42.2%
share of reported value
Largest Position
+8.4%
Toronto Dominion Bk
New / Exited
2 / 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: 92.7%Other: 7.3%ETP: 0.0%ADR: 0.0%
  • Common Stock · 92.7% · $15.6B
  • Other · 7.3% · $1.2B
  • ETP · 0.0% · $3M
  • ADR · 0.0% · $304,000

Quarter-over-Quarter Changes full breakdown →

vs Q1 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
PIIPolaris IndustriesNEW+1.07M1.07M+$147M$147M
Brookfield Asset Management Reinsurance PartnersNEW+99.5K99.5K+$5M$5M
FTSFortis IncADDED+5.44M6.70M+$241M$296M
Cdn Pacific RailwayADDED+2.46M3.12M−$13M$239M
CRH Medical CorpSOLD OUT−3.96M0−$16M$0
CNQCdn Natural ResTRIMMED−7.87M2.5K−$243M$88,000
CNICdn Natl RailwayADDED+2.76M6.16M+$254M$647M
AZOAutoZone IncADDED+46.4K107.0K+$75M$160M

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

Holdings — Q2 2021

65 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1TDToronto Dominion Bkhistory →Common8.42%$1.4B20.27M
2RYRoyal Bank Cdahistory →Common5.23%$880M8.71M
3RCIRogers Communicationshistory →Class B Non VTG4.76%$800M15.10M
4Brookfield Asset MgtClass A Ltd Vtg4.37%$734M14.45M
5TRPTC Energyhistory →Common3.98%$670M13.59M
6CNICdn Natl Railwayhistory →Common3.85%$647M6.16M
7SLFSun Life Fncl Inchistory →Common3.57%$600M11.67M
8MGAMagna Intl Inchistory →Common2.79%$470M5.09M
9OTEXOpen Text Corphistory →Common2.77%$467M9.22M
10SUSuncor Energy Inchistory →Common2.51%$422M17.70M
11QSRRestaurant Brands Internationalhistory →Common2.34%$393M6.13M
12MFCManulife Fincl Corphistory →Common2.33%$392M19.99M
13OMCOmnicom Group Inchistory →Common2.22%$374M4.67M
14NTRNutrien Ltdhistory →Common2.22%$373M6.18M
15BMOBank of Montrealhistory →Common2.13%$359M3.52M
16EBAYEbay Inchistory →Common2.08%$350M4.99M
17AMGNAmgen Inchistory →Common1.97%$331M1.36M
18DOXAmdocs Ltdhistory →Ordinary1.92%$323M4.18M
19MRKMerck& Co Inchistory →Common1.90%$320M4.11M
20KELKellogg Cohistory →Common1.87%$314M4.89M
21HOGHarley Davidson Inchistory →Common1.83%$307M6.70M
22VZVerizon Communicatiohistory →Common1.83%$307M5.48M
23KMBKimberly Clark Corphistory →Common1.80%$302M2.26M
24WABWestinghouse Air Brake Technologieshistory →Common1.79%$301M3.65M
25FTSFortis Inchistory →Common1.76%$296M6.70M
26IRIngersoll-Rand PLChistory →Class A1.74%$292M5.99M
27CPBCampbell Soup Cohistory →Common1.71%$288M6.31M
28TUTelus Corphistory →Common1.64%$275M12.31M
29AMPAmeriprise Financialhistory →Common1.59%$267M1.07M
30ORCLOracle Corphistory →Common1.48%$249M3.20M
31Cdn Pacific RailwayCommon1.42%$239M3.12M
32CAECAE Inchistory →Common1.41%$237M7.73M
33FLSFlowserve Corphistory →Common1.40%$236M5.86M
34GENNortonLifeLockhistory →Common1.34%$225M8.28M
35CMCSAComcast Corphistory →Common1.22%$205M3.59M
36CORAmerisource-Bergenhistory →Common1.16%$195M1.71M
37AXPAmerican Express Cohistory →Common1.00%$169M1.02M
38SEICSEI Investmentshistory →Common0.99%$167M2.69M
39AZOAutoZone Inchistory →Common0.95%$160M107.0K
40Thomson Reuters CorpCommon0.89%$149M1.51M
41PIIPolaris Industrieshistory →Common0.87%$147M1.07M
42CCJCameco Corphistory →Common0.87%$147M7.68M
43TECKTeck Resources Ltdhistory →Class B Sub VTG0.84%$142M6.19M
44CMICummins Inchistory →Common0.81%$137M561.0K
45FNVFranco Nevada Corphistory →Common0.78%$132M910.6K
46BNSBank of Nova Scotiahistory →Common0.73%$123M1.90M
47CIGIColliers Intlhistory →Sub Vtg0.41%$69M620.9K
48PPGPPG Industrieshistory →Common0.36%$60M355.4K
49AGIAlamos Gold Inhistory →Class A0.34%$58M7.60M
50Brookfield Business PartnersUnit LTD LP0.32%$54M1.18M
51JPMJPMorgan Chase & Cohistory →Common0.30%$51M325.8K
52BIIBBiogenhistory →Common0.28%$46M134.1K
53PHParker Hannifin Corphistory →Common0.27%$45M146.0K
54TE ConnectivityReg Shs0.26%$43M319.3K
55FSVFirstServicehistory →Common0.19%$32M185.2K
56DNNDenison Mines Corphistory →Common0.12%$21M17.31M
57Brookfield Asset Management Reinsurance PartnersClass A Exch LT Vtg0.03%$5M99.5K
58EFAiShares MSCI EAFE ETFETF0.02%$3M39.6K
59GlaxoSmithKlineSponsored ADR0.00%$447,00011.2K
60BRK/ABerkshire HathawayClass A0.00%$418,0001
61SNNSmith & NephewADR (2 ORD)0.00%$304,0007.0K
62CNQCdn Natural ResCommon0.00%$88,0002.5K
63CMCanadian Imperial BkCommon0.00%$87,000770
64GOOGAlphabetClass C0.00%$65,00026
65PEPPepsiCoCommon0.00%$7,00050

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 ↗.