Managers / Q3 2022 · 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
Q3 2022
Positions
73
Filings on Record
35
2019–present window
Filed
Nov 14, 2022
original filing
Summary
Beutel, Goodman & Co Ltd. reported $14.8B in U.S.-listed holdings across 73 positions for Q3 2022.
Its largest position, RY, represents 6.8% of the portfolio.
Compared with Q2 2022, the fund opened 5 new positions and exited 1.
Portfolio Metrics
Turnover
+4.0%
vs prior filed quarter
Top-10 Concentration
+37.1%
share of reported value
Largest Position
+6.8%
Royal Bank Cda
New / Exited
5 / 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
Portfolio Composition
By security type
- Common Stock · 93.9% · $13.9B
- Other · 6.1% · $895M
- ETP · 0.0% · $3M
- ADR · 0.0% · $588,000
Quarter-over-Quarter Changes full breakdown →
vs Q2 2022 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| CGCarlyle Group | NEW | +4.12M | 4.12M | +$106M | $106M |
| QCOMQualcomm | NEW | +914.4K | 914.4K | +$103M | $103M |
| GSKGSK PLC | NEW | +9.3K | 9.3K | +$274,000 | $274,000 |
| ORCLOracle | NEW | +400 | 400 | +$24,000 | $24,000 |
| ABTAbbott Lab | NEW | +200 | 200 | +$19,000 | $19,000 |
| GOOGAlphabet | ADDED | +794 | 820 | +$22,000 | $78,000 |
| MASMasco | ADDED | +2.19M | 2.40M | +$101M | $112M |
| PEPPepsiCo | ADDED | +100 | 150 | +$16,000 | $24,000 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2022
72 positions (from 73 filing rows — )
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | RYRoyal Bank Cdahistory → | ADR (2 ORD) | 6.79% | $1.0B | 11.07M |
| 2 | TDToronto Dominion Bkhistory → | Common | 5.66% | $837M | 13.55M |
| 3 | Brookfield Asset Mgt | Class A Ltd Vtg | 3.59% | $531M | 12.89M |
| 4 | CNICdn Natl Railwayhistory → | Common | 3.50% | $517M | 4.75M |
| 5 | TRPTC Energyhistory → | Common | 3.36% | $497M | 12.24M |
| 6 | QSRRestaurant Brands Internationalhistory → | Class B Non VTG | 3.14% | $465M | 8.67M |
| 7 | SLFSun Life Fncl Inchistory → | Common | 2.87% | $425M | 10.61M |
| 8 | RCIRogers Communicationshistory → | Common | 2.86% | $423M | 10.89M |
| 9 | MGAMagna Intl Inchistory → | Common | 2.68% | $397M | 8.30M |
| 10 | BMOBank of Montrealhistory → | Common | 2.66% | $394M | 4.46M |
| 11 | MFCManulife Fincl Corphistory → | Common | 2.66% | $393M | 24.85M |
| 12 | SUSuncor Energy Inchistory → | Common | 2.60% | $385M | 13.56M |
| 13 | Ritchie Bros. Auctioneers | Common | 2.48% | $367M | 5.83M |
| 14 | AMGNAmgen Inchistory → | Common | 2.35% | $347M | 1.54M |
| 15 | Cdn Pacific Railway | Common | 2.24% | $332M | 4.93M |
| 16 | DOXAmdocs Ltdhistory → | Ordinary | 2.09% | $310M | 3.90M |
| 17 | NTRNutrienhistory → | Common | 2.08% | $307M | 3.65M |
| 18 | FTSFortis Inchistory → | Common | 2.05% | $303M | 7.92M |
| 19 | CPBCampbell Soup Cohistory → | Common | 1.99% | $294M | 6.23M |
| 20 | OMCOmnicom Group Inchistory → | Common | 1.95% | $288M | 4.56M |
| 21 | KELKellogg Cohistory → | Common | 1.95% | $288M | 4.13M |
| 22 | MRKMerck& Co Inchistory → | Common | 1.94% | $287M | 3.33M |
| 23 | HOGHarley Davidson Inchistory → | Common | 1.73% | $256M | 7.34M |
| 24 | BIIBBiogenhistory → | Common | 1.73% | $256M | 958.0K |
| 25 | KMBKimberly Clark Corphistory → | Common | 1.67% | $246M | 2.19M |
| 26 | OTEXOpen Text Corphistory → | Common | 1.65% | $244M | 9.17M |
| 27 | AMPAmeriprise Financialhistory → | Common | 1.61% | $238M | 944.0K |
| 28 | GENNortonLifeLockhistory → | Common | 1.58% | $234M | 11.60M |
| 29 | AXPAmerican Express Cohistory → | Common | 1.48% | $219M | 1.62M |
| 30 | DOOBRP Inchistory → | Com Sun Vtg | 1.41% | $209M | 3.36M |
| 31 | PIIPolaris Industrieshistory → | Common | 1.38% | $204M | 2.13M |
| 32 | GIBCGI Grouphistory → | Cl A Sub Vtg | 1.31% | $194M | 2.56M |
| 33 | BlackRock | Common | 1.30% | $193M | 349.9K |
| 34 | WABWestinghouse Air Brake Technologieshistory → | Common | 1.29% | $191M | 2.35M |
| 35 | SEICSEI Investmentshistory → | Common | 1.28% | $190M | 3.87M |
| 36 | CAECAE Inchistory → | Common | 1.27% | $187M | 12.12M |
| 37 | CMICummins Inchistory → | Common | 1.22% | $181M | 889.0K |
| 38 | IPGInterpublic Group of Companieshistory → | Common | 1.19% | $176M | 6.86M |
| 39 | EBAYEbay Inchistory → | Common | 1.15% | $170M | 4.61M |
| 40 | NTAPNetApphistory → | Common | 1.06% | $157M | 2.54M |
| 41 | FLSFlowserve Corphistory → | Common | 1.06% | $156M | 6.43M |
| 42 | CMCSAComcast Corphistory → | Common | 1.00% | $148M | 5.04M |
| 43 | CORAmerisource-Bergenhistory → | Common | 0.90% | $132M | 978.3K |
| 44 | GNTXGentexhistory → | Common | 0.83% | $123M | 5.14M |
| 45 | TUTelus Corphistory → | Common | 0.81% | $119M | 5.96M |
| 46 | MASMascohistory → | Common | 0.76% | $112M | 2.40M |
| 47 | SGITempur Sealy Internationalhistory → | Common | 0.75% | $110M | 4.57M |
| 48 | CGCarlyle Grouphistory → | Common | 0.72% | $106M | 4.12M |
| 49 | QCOMQualcommhistory → | Common | 0.70% | $103M | 914.4K |
| 50 | FNVFranco Nevada Corphistory → | Common | 0.66% | $98M | 813.4K |
| 51 | PHParker Hannifin Corphistory → | Common | 0.60% | $88M | 363.5K |
| 52 | MLKNMillerknollhistory → | Common | 0.59% | $87M | 5.58M |
| 53 | BNSBank of Nova Scotiahistory → | Common | 0.56% | $83M | 1.73M |
| 54 | AGIAlamos Gold Inhistory → | Class A | 0.41% | $61M | 8.16M |
| 55 | PPGPPG Industrieshistory → | Common | 0.29% | $43M | 391.1K |
| 56 | CIGIColliers Intlhistory → | Sub Vtg | 0.23% | $35M | 374.7K |
| 57 | Brookfield Business Partners | Unit LTD LP · Cl A Exc Sub Vtg | 0.21% | $32M | 1.54M |
| 58 | DNNDenison Mines Corphistory → | Common | 0.09% | $13M | 11.37M |
| 59 | EFAiShares MSCI EAFE ETF | ETF | 0.02% | $3M | 45.6K |
| 60 | CMCanadian Imperial Bk | Common | 0.00% | $597,000 | 13.5K |
| 61 | BRK/ABerkshire Hathaway | Class A | 0.00% | $406,000 | 1 |
| 62 | SNNSmith & Nephew | Common | 0.00% | $314,000 | 13.5K |
| 63 | Unilever plc | Spon ADR New | 0.00% | $274,000 | 6.3K |
| 64 | GSKGSK PLC | Spons ADR | 0.00% | $274,000 | 9.3K |
| 65 | VZVerizon Communicatio | Common | 0.00% | $97,000 | 2.6K |
| 66 | MSFTMicrosoft | Common | 0.00% | $95,000 | 411 |
| 67 | GOOGAlphabet | Class C | 0.00% | $78,000 | 820 |
| 68 | AZOAutoZone Inc | Common | 0.00% | $74,000 | 35 |
| 69 | PEPPepsiCo | Common | 0.00% | $24,000 | 150 |
| 70 | ORCLOracle | Common | 0.00% | $24,000 | 400 |
| 71 | ABTAbbott Lab | Common | 0.00% | $19,000 | 200 |
| 72 | CNQCdn Natural Res | Common | 0.00% | $0 | 2 |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $14.8B | 170 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $16.3B | 174 | Feb 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $16.6B | 177 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $17.6B | 176 | Aug 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $17.4B | 205 | May 14, 2025 | RESTATEMENT | changes · EDGAR ↗ |
| Q4 2024 | $18.4B | 86 | Feb 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $20.3B | 89 | Nov 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $18.8B | 77 | Aug 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $19.4B | 75 | May 14, 2024 | RESTATEMENT | changes · EDGAR ↗ |
| Q4 2023 | $18.9B | 76 | Feb 9, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $16.9B | 75 | Nov 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $17.8B | 75 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $17.0B | 74 | May 12, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $16.5B | 76 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $14.8B | 73 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $16.1B | 69 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $17.7B | 69 | May 12, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $17.5B | 67 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $16.3B | 66 | Nov 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $16.8B | 65 | Aug 13, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $15.9B | 64 | May 14, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $14.8B | 67 | Feb 5, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $12.4B | 68 | Nov 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $12.2B | 67 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $10.7B | 64 | May 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $17.4B | 70 | Feb 24, 2020 | RESTATEMENT | changes · EDGAR ↗ |
| Q3 2019 | $14.3B | 64 | Dec 23, 2019 | RESTATEMENT | changes · EDGAR ↗ |
| Q2 2019 | $13.8B | 61 | Aug 15, 2019 | RESTATEMENT | changes · EDGAR ↗ |
| Q1 2019REVEALED | $26.5B | 163 | Apr 26, 2019 | 13F-HR | changes · 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 ↗.