SEC 13F Intelligence

Managers / Q3 2021 · view latest →

Beutel, Goodman & Co Ltd.

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

Reported Value
$16.3B
Q3 2021
Positions
66
Filings on Record
35
2019–present window
Filed
Nov 12, 2021
original filing

Summary

Beutel, Goodman & Co Ltd. reported $16.3B in U.S.-listed holdings across 66 positions for Q3 2021.

Its largest position, TD, represents 8.1% of the portfolio.

Compared with Q2 2021, the fund opened 5 new positions and exited 4.

Portfolio Metrics

Turnover
+4.6%
vs prior filed quarter
Top-10 Concentration
+41.6%
share of reported value
Largest Position
+8.1%
Toronto Dominion Bk
New / Exited
5 / 4
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: 93.1%Other: 6.8%ETP: 0.0%ADR: 0.0%
  • Common Stock · 93.1% · $15.2B
  • Other · 6.8% · $1.1B
  • ETP · 0.0% · $3M
  • ADR · 0.0% · $406,000

Quarter-over-Quarter Changes full breakdown →

vs Q2 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
MLKNHerman MillerNEW+4.35M4.35M+$164M$164M
Ritchie Bros. AuctioneersNEW+1.10M1.10M+$68M$68M
NTAPNetAppNEW+534.8K534.8K+$48M$48M
MSFTMicrosoftNEW+261261+$73,000$73,000
BABAAlibaba Group HoldingNEW+100100+$14,000$14,000
BIIBBiogenADDED+415.9K550.0K+$109M$156M
CCJCameco CorpSOLD OUT−7.68M0−$147M$0
TE ConnectivitySOLD OUT−319.3K0−$43M$0

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

Holdings — Q3 2021

66 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1TDToronto Dominion Bkhistory →Common8.07%$1.3B19.91M
2RYRoyal Bank Cdahistory →Common5.21%$851M8.55M
3Brookfield Asset MgtClass A Ltd Vtg4.63%$757M14.12M
4CNICdn Natl Railwayhistory →Common4.29%$701M6.04M
5RCIRogers Communicationshistory →Class B Non VTG4.24%$693M14.82M
6TRPTC Energyhistory →Common3.93%$642M13.34M
7SLFSun Life Fncl Inchistory →Common3.61%$591M11.46M
8OTEXOpen Text Corphistory →Common2.71%$442M9.05M
9MGAMagna Intl Inchistory →Common2.52%$412M5.47M
10NTRNutrien Ltdhistory →Common2.41%$395M6.07M
11QSRRestaurant Brands Internationalhistory →Common2.37%$387M6.31M
12MFCManulife Fincl Corphistory →Common2.32%$379M19.66M
13SUSuncor Energy Inchistory →Common2.21%$360M17.37M
14OMCOmnicom Group Inchistory →Common2.16%$353M4.87M
15BMOBank of Montrealhistory →Common2.11%$345M3.45M
16EBAYEbay Inchistory →Common2.03%$332M4.76M
17DOXAmdocs Ltdhistory →Ordinary2.03%$331M4.37M
18KELKellogg Cohistory →Common1.99%$325M5.09M
19MRKMerck& Co Inchistory →Common1.97%$323M4.29M
20AMGNAmgen Inchistory →Common1.92%$314M1.48M
21KMBKimberly Clark Corphistory →Common1.91%$313M2.36M
22FTSFortis Inchistory →Common1.91%$311M7.02M
23WABWestinghouse Air Brake Technologieshistory →Common1.89%$309M3.59M
24VZVerizon Communicatiohistory →Common1.89%$308M5.71M
25AMPAmeriprise Financialhistory →Common1.81%$296M1.12M
26CPBCampbell Soup Cohistory →Common1.68%$275M6.58M
27TUTelus Corphistory →Common1.63%$266M12.07M
28HOGHarley Davidson Inchistory →Common1.57%$256M6.99M
29GENNortonLifeLockhistory →Common1.47%$240M9.48M
30CAECAE Inchistory →Common1.43%$234M7.83M
31PIIPolaris Industrieshistory →Common1.38%$225M1.88M
32CORAmerisource-Bergenhistory →Common1.30%$213M1.78M
33FLSFlowserve Corphistory →Common1.30%$212M6.12M
34Cdn Pacific RailwayCommon1.22%$200M3.06M
35AZOAutoZone Inchistory →Common1.17%$191M112.6K
36CMCSAComcast Corphistory →Common1.16%$189M3.38M
37SEICSEI Investmentshistory →Common1.02%$167M2.81M
38MLKNHerman Millerhistory →Common1.00%$164M4.35M
39AXPAmerican Express Cohistory →Common0.98%$159M951.4K
40BIIBBiogenhistory →Common0.95%$156M550.0K
41IRIngersoll-Rand PLChistory →Class A0.93%$152M3.02M
42TECKTeck Resources Ltdhistory →Class B Sub VTG0.93%$151M6.08M
43ORCLOracle Corphistory →Common0.89%$145M1.66M
44CMICummins Inchistory →Common0.81%$132M586.6K
45FNVFranco Nevada Corphistory →Common0.71%$116M893.6K
46BNSBank of Nova Scotiahistory →Common0.71%$115M1.87M
47Thomson Reuters CorpCommon0.67%$109M985.6K
48Ritchie Bros. AuctioneersCommon0.42%$68M1.10M
49AGIAlamos Gold Inhistory →Class A0.39%$64M8.89M
50PHParker Hannifin Corphistory →Common0.38%$63M223.8K
51CIGIColliers Intlhistory →Sub Vtg0.35%$57M444.3K
52JPMJPMorgan Chase & Cohistory →Common0.34%$56M339.9K
53PPGPPG Industrieshistory →Common0.32%$53M369.1K
54Brookfield Business PartnersUnit LTD LP0.31%$51M1.12M
55NTAPNetApphistory →Common0.29%$48M534.8K
56DNNDenison Mines Corphistory →Common0.11%$18M12.38M
57EFAiShares MSCI EAFE ETFETF0.02%$3M40.4K
58GlaxoSmithKlineSponsored ADR0.00%$429,00011.2K
59BRK/ABerkshire HathawayClass A0.00%$411,0001
60SNNSmith & NephewADR (2 ORD)0.00%$392,00011.4K
61CMCanadian Imperial BkCommon0.00%$85,000770
62MSFTMicrosoftCommon0.00%$73,000261
63GOOGAlphabetClass C0.00%$69,00026
64CNQCdn Natural ResCommon0.00%$47,0001.3K
65BABAAlibaba Group HoldingSponsored ADS0.00%$14,000100
66PEPPepsiCoCommon0.00%$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 ↗.