SEC 13F Intelligence

Managers / Q4 2024 · view latest →

Beutel, Goodman & Co Ltd.

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

Reported Value
$18.4B
Q4 2024
Positions
86
Filings on Record
35
2019–present window
Filed
Feb 12, 2025
original filing

Summary

Beutel, Goodman & Co Ltd. reported $18.4B in U.S.-listed holdings across 86 positions for Q4 2024.

Its largest position, RY, represents 4.9% of the portfolio.

Compared with Q3 2024, the fund opened 1 new position and exited 4.

Portfolio Metrics

Turnover
+5.8%
vs prior filed quarter
Top-10 Concentration
+30.2%
share of reported value
Largest Position
+4.9%
Royal Bank Cda
New / Exited
1 / 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: 99.7%Other: 0.2%ETP: 0.1%ADR: 0.0%
  • Common Stock · 99.7% · $18.3B
  • Other · 0.2% · $29M
  • ETP · 0.1% · $27M
  • ADR · 0.0% · $1M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
MDTMedtronic PLCNEW+4.72M4.72M+$377M$377M
CBChubb LimitedADDED+1.01M1.01M+$278M$278M
ATSATS CorpADDED+5.43M6.52M+$167M$199M
Primo WaterSOLD OUT−1.56M0−$39M$0
BSXBoston ScientificSOLD OUT−7850−$65,000$0
RELXRelx PLCSOLD OUT−1.0K0−$47,000$0
CPRTCopart IncSOLD OUT−6000−$31,000$0
KELKellanovaTRIMMED−4.93M1.40M−$398M$113M

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

Holdings — Q4 2024

85 positions (from 86 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1RYRoyal Bank Cdahistory →ADR (2 ORD)4.89%$899M7.46M
2TDToronto Dominion Bkhistory →Common4.86%$894M16.80M
3BMOBank of Montrealhistory →Common3.49%$642M6.62M
4RBARB Globalhistory →Common2.94%$541M6.00M
5GENGen Digitalhistory →Common2.45%$450M16.45M
6EBAYEbay Inchistory →Common2.37%$435M7.03M
7AXPAmerican Express Cohistory →Common2.34%$430M1.45M
8DOXAmdocs Ltdhistory →Ordinary2.31%$424M4.98M
9CNICdn Natl Railwayhistory →Common2.27%$418M4.12M
10CMCSAComcast Corphistory →Common2.24%$411M10.96M
11MRKMerck& Co Inchistory →Common2.19%$402M4.04M
12PPGPPG Industrieshistory →Common2.17%$399M3.34M
13KMBKimberly Clark Corphistory →Common2.12%$389M2.97M
14MFCManulife Fincl Corphistory →Common2.11%$387M12.60M
15MDTMedtronic PLChistory →Common2.05%$377M4.72M
16QCOMQualcommhistory →Common2.04%$375M2.44M
17GIBCGI Grouphistory →Cl A Sub Vtg2.04%$374M3.42M
18QSRRestaurant Brands Internationalhistory →Class B Non VTG2.00%$367M5.64M
19RCIRogers Communicationshistory →Common1.96%$360M11.72M
20BNSBank of Nova Scotiahistory →Common1.90%$348M6.49M
21FTSFortis Inchistory →Common1.84%$338M8.15M
22BNBrookfield Corporationhistory →Cl A Ltd Vt Sh1.83%$337M5.86M
23CPCanadian Pacific Kansas Cityhistory →Common1.83%$336M4.64M
24NTAPNetApphistory →Common1.82%$335M2.89M
25AMGNAmgen Inchistory →Common1.80%$332M1.27M
26MGAMagna Intl Inchistory →Common1.77%$325M7.78M
27SUSuncor Energy Inchistory →Common1.71%$314M8.80M
28SLFSun Life Fncl Inchistory →Common1.71%$314M5.29M
29TRPTC Energyhistory →Common1.68%$310M6.65M
30CAECAE Inchistory →Common1.67%$307M12.09M
31OMCOmnicom Group Inchistory →Common1.59%$293M3.40M
32CPBThe Campbells Companyhistory →Common1.58%$290M6.93M
33GFLGFL Environmentalhistory →Sub Vtg Shs1.52%$279M6.27M
34CBChubb Limitedhistory →Common1.51%$278M1.01M
35BIIBBiogenhistory →Common1.45%$267M1.75M
36BlackRockCommon1.42%$262M255.2K
37AMPAmeriprise Financialhistory →Common1.39%$256M481.3K
38NTRNutrienhistory →Common1.39%$255M5.70M
39IPGInterpublic Group of Companieshistory →Common1.34%$247M8.82M
40CIGIColliers Intlhistory →Sub Vtg1.34%$247M1.81M
41HOGHarley Davidson Inchistory →Common1.24%$228M7.56M
42SEICSEI Investmentshistory →Common1.20%$220M2.66M
43OTEXOpen Text Corphistory →Common1.16%$213M7.54M
44CMICummins Inchistory →Common1.15%$211M604.7K
45WABWestinghouse Air Brake Technologieshistory →Common1.12%$205M1.08M
46MASMascohistory →Common1.10%$202M2.79M
47FNVFranco Nevada Corphistory →Common1.09%$200M1.70M
48ATSATS Corphistory →Common1.08%$199M6.52M
49GNTXGentexhistory →Common0.94%$174M6.04M
50DOOBRP Inchistory →Com Sun Vtg0.90%$166M3.25M
51PIIPolaris Industrieshistory →Common0.87%$160M2.78M
52FLSFlowserve Corphistory →Common0.81%$148M2.57M
53BAMBrookfield Asset Mgthistory →Class A Ltd Vtg0.78%$144M2.65M
54CGCarlyle Grouphistory →Common0.78%$143M2.84M
55SGITempur Sealy Internationalhistory →Common0.64%$117M2.07M
56CORCencorahistory →Common0.62%$114M506.3K
57KELKellanovahistory →Common0.62%$113M1.40M
58AGIAlamos Gold Inhistory →Class A0.37%$68M3.67M
59TFPMTriple Flag Precious Metalshistory →Common0.17%$32M2.13M
60Brookfield Business PartnersUnit LTD LP · Cl A Exc Sub Vtg0.16%$29M1.21M
61SPYGSPDR Portfolio S&P 500 Growthhistory →ETF0.13%$24M270.8K
62DNNDenison Mines Corphistory →Common0.07%$12M6.76M
63TIXTTelus International CdaSub Vtg Shs0.05%$9M2.26M
64EFAiShares MSCI EAFE ETFETF0.02%$3M41.1K
65BRK/ABerkshire HathawayClass A0.00%$680,0001
66Unilever plcSpon ADR New0.00%$454,0008.0K
67GSKGSK PLCSpons ADR0.00%$429,00012.7K
68SNNSmith & NephewCommon0.00%$382,00015.6K
69NVSNovartisSponsored ADR0.00%$260,0002.7K
70PHParker Hannifin CorpCommon0.00%$225,000355
71MSFTMicrosoftCommon0.00%$210,000500
72ABTAbbott LabCommon0.00%$169,0001.5K
73GOOGAlphabetClass C0.00%$145,000765
74TJXTJX companiesCommon0.00%$144,0001.2K
75PEPPepsiCo IncCommon0.00%$136,000900
76CMCanadian Imperial BkCommon0.00%$97,0001.5K
77AMZNAmazonCommon0.00%$85,000390
78PGProcter & GambleCommon0.00%$83,000500
79ORCLOracle CorpCommon0.00%$49,000300
80VRSKVerisk AnalyticsCommon0.00%$47,000172
81AMEAmetekCommon0.00%$35,000195
82BEPCBrookfield Renewable PartnersPartnership Unit0.00%$25,0001.1K
83MBBiShares MBS ETFMBS ETF0.00%$24,000270
84BDXBecton Dickinson & CoCommon0.00%$17,00075
85BCEBCECom New0.00%$9,000409

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 ↗.