Beutel, Goodman & Co Ltd.

CIK

1361974

Location

TORONTO, A6

Portfolio Value

Large $14,737,039,618

Diversification

Diversified

Filing Date

Global Rank

#332 / 8,623 ▼ 18 · as of Mar 2026

Top Industry

Banks - Diversified 12.9%

3Y Alpha vs SPY

-5.3%

Period ended 4 months ago

Filed May 15, 2026 · 3mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+44.4%

SPY

+65.3%

Annualised alpha

-5.2%

Max drawdown

−16.5%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

158 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

4.7%

+0.0 pts

Top 5

17.0%

−1.5 pts

Top 10

29.9%

−1.4 pts

HHI

204

Diversified−17

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	28.3%	$4,177,125,600	28
Industrials	17.8%	$2,616,820,155	23
Technology	12.4%	$1,825,751,530	18
Healthcare	10.2%	$1,498,014,223	19
Consumer Cyclical	8.0%	$1,177,538,785	12
Communication Services	6.5%	$957,949,617	10
Basic Materials	6.4%	$943,278,824	13
Energy	5.0%	$735,788,984	13
Consumer Defensive	2.3%	$337,471,065	12
Utilities	1.7%	$249,760,207	7
Real Estate	1.5%	$217,246,228	1
Unclassified	0.0%	$294,400	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

18 positions

Ticker	Company	Δ Shares	Shares	Value
BAM	Brookfield Asset Management Ltd.	+3,252,202	5,189,113	$230,656,072
WFC	Wells Fargo & Company/Mn	+2,032,900	2,048,015	$163,042,474
UNP	Union Pacific Corp	+1,064,234	1,066,009	$258,635,103
MICC	Magnum Ice Cream Co N.V.	+692,427	979,815	$14,648,234
BBUC	Brookfield Business Corp	+578,071	908,525	$28,745,731
DOX	Amdocs Ltd	+549,841	5,284,195	$344,846,565
QCOM	Qualcomm Inc/De	+507,756	2,408,283	$310,138,684
CIGI	Colliers International Group Inc.	+430,817	2,032,428	$217,246,228
NTAP	NetApp, Inc.	+291,020	3,642,465	$372,951,991
BGSI	Boyd Group Services Inc.	+151,954	1,723,423	$220,356,864
ELV	Elevance Health, Inc.	+68,828	886,724	$259,588,451
SNN	Smith & Nephew PLC	+2,200	43,745	$1,390,216
NVS	Novartis AG	+169	18,824	$2,875,366
XOM	ExxonMobil Holdings Corp	+103	1,503	$254,998
MA	Mastercard Inc	+17	25	$12,491
V	Visa Inc.	+12	157	$47,451
COST	Costco Wholesale Corp /New	+5	3,099	$3,087,936
SPY	Spdr S&P 500 ETF Trust	+2	182	$118,361
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
GEN	Gen Digital Inc.	−2,643,934	10,387,394	$195,594,629
CNQ	CANADIAN NATURAL RESOURCES Ltd	−2,423,319	4,011,532	$195,481,954
NTR	Nutrien Ltd.	−2,296,123	3,701,225	$279,294,438
TRP	Tc Energy Corp	−2,267,710	3,778,289	$236,520,891
BMO	Bank Of Montreal /Can/	−1,888,849	3,101,868	$419,806,815
OMC	Omnicom Group Inc.	−1,495,677	4,128,466	$310,914,774
KMB	Kimberly Clark Corp	−1,401,808	1,841,866	$177,684,813
MRK	Merck & Co., Inc.	−1,032,502	3,029,891	$364,465,588
RBA	Rb Global Inc.	−992,734	1,724,806	$165,322,655
CMCSA	Comcast Corp	−943,189	9,535,358	$273,760,128
CG	Carlyle Group Inc.	−916,145	1,518,992	$73,504,022
MFC	Manulife Financial Corp	−906,725	10,117,802	$348,457,100
RCI	Rogers Communications Inc	−883,552	9,491,032	$364,930,180
FLS	Flowserve Corp	−695,545	2,007,525	$147,573,162
TD	Toronto Dominion Bank	−629,038	7,383,692	$688,972,300
GFL	GFL Environmental Inc.	−534,605	6,637,498	$276,916,416
AGI	Alamos Gold Inc	−533,174	1,525,351	$67,771,344
AMGN	Amgen Inc	−533,134	649,319	$228,462,890
CAE	Cae Inc	−451,331	6,228,487	$162,252,086
QSR	Restaurant Brands International Inc.	−449,610	5,098,410	$376,772,499
OTEX	Open Text Corp	−449,329	5,118,468	$113,834,728
ATS	ATS Corp /ATS	−382,389	5,454,749	$153,823,921
SU	Suncor Energy Inc	−368,344	4,086,562	$270,162,613
FTS	Fortis Inc.	−347,434	3,972,034	$221,599,776
CP	Canadian Pacific Kansas City Ltd/Cn	−326,169	4,111,721	$323,427,973
No positions match the current search.

New Positions

Positions the filer opened this quarter

10 positions

Ticker	Company	Shares	Value
GIL	Gildan Activewear Inc.	3,418,154	$190,220,270
BDX	Becton Dickinson & Co	963,199	$151,443,778
MRSH	Marsh & Mclennan Companies, Inc.	779,770	$135,251,106
SYY	Sysco Corp	1,807,237	$128,910,215
MDA	MDA Space Ltd.	1,930,691	$48,885,096
UL	Unilever PLC	9,382	$534,492
VSNT	Versant Media Group, Inc.	837	$30,985
NVDA	Nvidia Corp	132	$23,020
WCN	Waste Connections, Inc.	76	$12,345
NKE	NIKE, Inc.	1	$52
No positions match the current search.

Sold Out

Positions the filer fully exited

11 positions

Ticker	Company	Shares	Value
CPB	CAMPBELL'S Co	6,267,644	$174,679,238
HOG	Harley-Davidson, Inc.	6,377,492	$130,674,811
EIX	Edison International	750	$45,015
NFLX	Netflix Inc	170	$15,939
KKR	KKR & Co. Inc.	125	$15,935
UBER	Uber Technologies, Inc	190	$15,524
TFII	TFI International Inc.	145	$14,985
DUK	Duke Energy CORP	100	$11,721
ED	Consolidated Edison Inc	100	$9,932
SBUX	Starbucks Corp	70	$5,894
MEOH	Methanex Corp	95	$3,773
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

158 tracked positions · $14,737,039,618 total · filing declares 170 positions · $14,751,822 · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 158 positions by value · page 1 of 4

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
TD	Toronto Dominion Bank Financial Services	Reduced	7,383,692	-629,038	$688,972,300	−8.7%	4.68%
RY	Royal Bank Of Canada Financial Services	Reduced	3,605,831	-307,920	$583,351,339	−12.6%	3.96%
BMO	Bank Of Montreal /Can/ Financial Services	Reduced	3,101,868	-1,888,849	$419,806,815	−35.2%	2.85%
WAB	Westinghouse Air Brake Technologies Corp Industrials	Reduced	1,648,944	-93,975	$412,087,595	+10.8%	2.80%
PPG	Ppg Industries Inc Basic Materials	Reduced	3,712,117	-209,005	$396,751,064	−1.2%	2.69%
EBAY	Ebay Inc Consumer Cyclical	Reduced	4,277,227	-240,135	$389,313,201	−1.1%	2.64%
MDT	Medtronic plc Healthcare	Reduced	4,469,174	-262,437	$387,253,927	−14.8%	2.63%
CB	Chubb Ltd Financial Services	Reduced	1,157,024	-324,192	$377,108,832	−18.4%	2.56%
QSR	Restaurant Brands International Inc. Consumer Cyclical	Reduced	5,098,410	-449,610	$376,772,499	−0.5%	2.56%
NTAP	NetApp, Inc. Technology	Added	3,642,465	+291,020	$372,951,991	+3.9%	2.53%
RCI	Rogers Communications Inc Communication Services	Reduced	9,491,032	-883,552	$364,930,180	−6.8%	2.48%
MRK	Merck & Co., Inc. Healthcare	Reduced	3,029,891	-1,032,502	$364,465,588	−14.8%	2.47%
MFC	Manulife Financial Corp Financial Services	Reduced	10,117,802	-906,725	$348,457,100	−12.9%	2.36%
DOX	Amdocs Ltd Technology	Added	5,284,195	+549,841	$344,846,565	−9.5%	2.34%
CP	Canadian Pacific Kansas City Ltd/Cn Industrials	Reduced	4,111,721	-326,169	$323,427,973	−1.0%	2.19%
OMC	Omnicom Group Inc. Communication Services	Reduced	4,128,466	-1,495,677	$310,914,774	−31.5%	2.11%
QCOM	Qualcomm Inc/De Technology	Added	2,408,283	+507,756	$310,138,684	−4.6%	2.10%
AMP	Ameriprise Financial Inc Financial Services	Reduced	659,562	-65,537	$293,109,352	−17.6%	1.99%
NTR	Nutrien Ltd. Basic Materials	Reduced	3,701,225	-2,296,123	$279,294,438	−24.5%	1.90%
GFL	GFL Environmental Inc. Industrials	Reduced	6,637,498	-534,605	$276,916,416	−10.1%	1.88%
CMCSA	Comcast Corp Communication Services	Reduced	9,535,358	-943,189	$273,760,128	−12.6%	1.86%
GIB	Cgi Inc Technology	Reduced	3,731,273	-278,532	$272,756,056	−26.3%	1.85%
SU	Suncor Energy Inc Energy	Reduced	4,086,562	-368,344	$270,162,613	+36.7%	1.83%
ELV	Elevance Health, Inc. Healthcare	Added	886,724	+68,828	$259,588,451	−9.5%	1.76%
UNP	Union Pacific Corp Industrials	Added	1,066,009	+1,064,234	$258,635,103	+62890.6%	1.76%
CNI	Canadian National Railway Co Industrials	Reduced	2,415,690	-213,821	$248,260,461	−4.5%	1.68%
TRP	Tc Energy Corp Energy	Reduced	3,778,289	-2,267,710	$236,520,891	−28.9%	1.60%
BAM	Brookfield Asset Management Ltd. Financial Services	Added	5,189,113	+3,252,202	$230,656,072	+127.3%	1.57%
AMGN	Amgen Inc Healthcare	Reduced	649,319	-533,134	$228,462,890	−41.0%	1.55%
FTS	Fortis Inc. Utilities	Reduced	3,972,034	-347,434	$221,599,776	−1.2%	1.50%
BGSI	Boyd Group Services Inc. Consumer Cyclical	Added	1,723,423	+151,954	$220,356,864	−12.0%	1.50%
CIGI	Colliers International Group Inc. Real Estate	Added	2,032,428	+430,817	$217,246,228	−7.7%	1.47%
AXP	American Express Co Financial Services	Reduced	664,522	-100,614	$201,004,614	−29.0%	1.36%
GEN	Gen Digital Inc. Technology	Reduced	10,387,394	-2,643,934	$195,594,629	−44.8%	1.33%
CNQ	CANADIAN NATURAL RESOURCES Ltd Energy	Reduced	4,011,532	-2,423,319	$195,481,954	−10.3%	1.33%
MAS	Masco Corp /De/ Industrials	Reduced	3,166,441	-144,349	$191,158,043	−9.0%	1.30%
GIL	Gildan Activewear Inc. Consumer Cyclical	NEW	3,418,154	NEW	$190,220,270	NEW	1.29%
SLF	Sun Life Financial Inc Financial Services	Reduced	2,907,092	-266,272	$181,867,675	−8.2%	1.23%
KMB	Kimberly Clark Corp Consumer Defensive	Reduced	1,841,866	-1,401,808	$177,684,813	−45.7%	1.21%
CMI	Cummins Inc Industrials	Reduced	323,652	-19,991	$174,131,249	−0.7%	1.18%
RBA	Rb Global Inc. Industrials	Reduced	1,724,806	-992,734	$165,322,655	−40.9%	1.12%
WFC	Wells Fargo & Company/Mn Financial Services	Added	2,048,015	+2,032,900	$163,042,474	+11473.8%	1.11%
CAE	Cae Inc Industrials	Reduced	6,228,487	-451,331	$162,252,086	−20.2%	1.10%
BN	BROOKFIELD Corp /ON/ Financial Services	Reduced	3,977,934	-323,133	$160,986,988	−18.4%	1.09%
ATS	ATS Corp /ATS Industrials	Reduced	5,454,749	-382,389	$153,823,921	−4.3%	1.04%
AMAT	Applied Materials Inc /De Technology	Reduced	444,766	-256,648	$152,016,571	−15.7%	1.03%
BDX	Becton Dickinson & Co Healthcare	NEW	963,199	NEW	$151,443,778	NEW	1.03%
FNV	FRANCO NEVADA Corp Basic Materials	Reduced	601,308	-326,166	$148,553,141	−22.7%	1.01%
FLS	Flowserve Corp Industrials	Reduced	2,007,525	-695,545	$147,573,162	−21.3%	1.00%
SEIC	Sei Investments Co Financial Services	Reduced	1,773,154	-109,273	$139,139,394	−9.9%	0.94%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.