Beutel, Goodman & Co Ltd.

CIK

1361974

Location

TORONTO, A6

Portfolio Value

Large $14,708,293,887

Diversification

Diversified

Filing Date

Global Rank

#332 / 8,605 ▼ 18 · as of Mar 2026

Top Industry

Banks - Diversified 12.9%

3Y Alpha vs SPY

-7.6%

Period ended 3 months ago

Filed May 15, 2026 · 55d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+46.9%

SPY

+76.5%

Annualised alpha

-7.2%

Max drawdown

−16.4%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

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

Top Position

4.7%

+0.0 pts

Top 5

17.0%

−1.4 pts

Top 10

29.9%

−1.3 pts

HHI

204

Diversified−16

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	28.4%	$4,177,125,600	28
Industrials	17.6%	$2,588,074,424	22
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

17 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
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	Exxon Mobil 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

12 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
BBUC	Brookfield Business Corp	330,454	$11,856,689
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

157 positions · $14,708,293,887 total · 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 157 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%	3.97%
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%	2.70%
EBAY	Ebay Inc Consumer Cyclical	Reduced	4,277,227	-240,135	$389,313,201	−1.1%	2.65%
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%	2.54%
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%	2.48%
MFC	Manulife Financial Corp Financial Services	Reduced	10,117,802	-906,725	$348,457,100	−12.9%	2.37%
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%	2.20%
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%	2.11%
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	−6.7%	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%	1.84%
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%	1.69%
TRP	Tc Energy Corp Energy	Reduced	3,778,289	-2,267,710	$236,520,891	−28.9%	1.61%
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%	1.51%
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%	1.48%
AXP	American Express Co Financial Services	Reduced	664,522	-100,614	$201,004,614	−29.0%	1.37%
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%	1.24%
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%	1.05%
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%	0.95%