SEC 13F Intelligence

Managers / Q1 2022 · view latest →

Beutel, Goodman & Co Ltd.

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

Reported Value
$17.7B
Q1 2022
Positions
69
Filings on Record
35
2019–present window
Filed
May 12, 2022
original filing

Summary

Beutel, Goodman & Co Ltd. reported $17.7B in U.S.-listed holdings across 69 positions for Q1 2022.

Its largest position, RY, represents 7.0% of the portfolio.

Compared with Q4 2021, the fund opened 3 new positions and exited 1.

Portfolio Metrics

Turnover
+8.7%
vs prior filed quarter
Top-10 Concentration
+41.1%
share of reported value
Largest Position
+7.0%
Royal Bank Cda
New / Exited
3 / 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: 93.8%Other: 6.2%ETP: 0.0%ADR: 0.0%
  • Common Stock · 93.8% · $16.6B
  • Other · 6.2% · $1.1B
  • ETP · 0.0% · $3M
  • ADR · 0.0% · $431,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BlackRockNEW+118.3K118.3K+$90M$90M
SGITempur Sealy InternationalNEW+1.41M1.41M+$39M$39M
Brookfield Business PartnersNEW+534.5K534.5K+$17M$17M
DOOBRP IncADDED+2.10M3.11M+$166M$255M
ORCLOracle CorpSOLD OUT−2100−$18,000$0
IRIngersoll-Rand PLCTRIMMED−1.32M700.7K−$90M$35M
Ritchie Bros. AuctioneersADDED+2.14M5.49M+$120M$325M
TUTelus CorpTRIMMED−5.69M6.29M−$117M$164M

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

Holdings — Q1 2022

68 positions (from 69 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1RYRoyal Bank Cdahistory →Common7.00%$1.2B11.23M
2TDToronto Dominion Bkhistory →Common5.64%$997M12.56M
3RCIRogers Communicationshistory →Class B Non VTG4.57%$808M14.28M
4Brookfield Asset MgtClass A Ltd Vtg4.11%$727M12.86M
5TRPTC Energyhistory →Common4.09%$723M12.82M
6CNICdn Natl Railwayhistory →Common3.55%$627M4.67M
7SLFSun Life Fncl Inchistory →Common3.48%$615M11.01M
8MFCManulife Fincl Corphistory →Common3.14%$554M25.99M
9QSRRestaurant Brands Internationalhistory →Common2.79%$493M8.43M
10MGAMagna Intl Inchistory →Common2.74%$484M7.53M
11FTSFortis Inchistory →Common2.32%$410M8.28M
12NTRNutrien Ltdhistory →Common2.25%$397M3.84M
13AMGNAmgen Inchistory →Common2.22%$392M1.62M
14BMOBank of Montrealhistory →Common2.21%$390M3.31M
15OMCOmnicom Group Inchistory →Common2.19%$387M4.56M
16OTEXOpen Text Corphistory →Common2.09%$369M8.70M
17MRKMerck& Co Inchistory →Common2.07%$365M4.45M
18SUSuncor Energy Inchistory →Common2.05%$363M11.14M
19DOXAmdocs Ltdhistory →Ordinary2.02%$357M4.35M
20KELKellogg Cohistory →Common1.90%$335M5.20M
21Ritchie Bros. AuctioneersCommon1.84%$325M5.49M
22Cdn Pacific RailwayCommon1.79%$316M3.82M
23CAECAE Inchistory →Common1.75%$310M11.91M
24VZVerizon Communicatiohistory →Common1.72%$305M5.98M
25KMBKimberly Clark Corphistory →Common1.72%$304M2.47M
26CPBCampbell Soup Cohistory →Common1.71%$302M6.79M
27GENNortonLifeLockhistory →Common1.71%$302M11.38M
28HOGHarley Davidson Inchistory →Common1.61%$284M7.21M
29WABWestinghouse Air Brake Technologieshistory →Common1.58%$280M2.91M
30AMPAmeriprise Financialhistory →Common1.57%$278M925.4K
31EBAYEbay Inchistory →Common1.46%$258M4.51M
32DOOBRP Inchistory →Com Sun Vtg1.44%$255M3.11M
33AXPAmerican Express Cohistory →Common1.34%$236M1.26M
34SEICSEI Investmentshistory →Common1.29%$228M3.79M
35FLSFlowserve Corphistory →Common1.28%$226M6.31M
36PIIPolaris Industrieshistory →Common1.25%$220M2.09M
37BIIBBiogenhistory →Common1.12%$198M940.2K
38MLKNMillerknollhistory →Common1.07%$188M5.45M
39IPGInterpublic Group of Companieshistory →Common1.02%$181M5.09M
40TUTelus Corphistory →Common0.93%$164M6.29M
41CMCSAComcast Corphistory →Common0.92%$163M3.49M
42CORAmerisource-Bergenhistory →Common0.84%$149M960.7K
43GNTXGentexhistory →Common0.82%$145M4.98M
44CMICummins Inchistory →Common0.81%$143M697.9K
45FNVFranco Nevada Corphistory →Common0.78%$138M866.1K
46BNSBank of Nova Scotiahistory →Common0.73%$129M1.80M
47BlackRockCommon0.51%$90M118.3K
48AZOAutoZone Inchistory →Common0.43%$76M37.1K
49AGIAlamos Gold Inhistory →Class A0.40%$71M8.49M
50PHParker Hannifin Corphistory →Common0.37%$66M231.1K
51NTAPNetApphistory →Common0.36%$63M760.8K
52CIGIColliers Intlhistory →Sub Vtg0.29%$51M390.1K
53PPGPPG Industrieshistory →Common0.28%$50M382.0K
54Brookfield Business PartnersUnit LTD LP · Cl A Exc Sub Vtg0.28%$50M1.60M
55SGITempur Sealy Internationalhistory →Common0.22%$39M1.41M
56IRIngersoll-Rand PLChistory →Class A0.20%$35M700.7K
57DNNDenison Mines Corphistory →Common0.11%$19M11.82M
58EFAiShares MSCI EAFE ETFETF0.02%$3M41.5K
59GlaxoSmithKlineSponsored ADR0.00%$575,00013.2K
60BRK/ABerkshire HathawayClass A0.00%$528,0001
61SNNSmith & NephewADR (2 ORD)0.00%$431,00013.5K
62Unilever plcSpon ADR New0.00%$283,0006.2K
63TECKTeck Resources LtdClass B Sub VTG0.00%$193,0004.8K
64CMCanadian Imperial BkCommon0.00%$93,000770
65MSFTMicrosoftCommon0.00%$80,000261
66GOOGAlphabetClass C0.00%$72,00026
67PEPPepsiCoCommon0.00%$8,00050
68CNQCdn Natural ResCommon0.00%$02

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 ↗.