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Beutel, Goodman & Co Ltd.

13F for September 30, 2026, filed November 4, 2026 · SEC CIK 1361974 · Holdings history from December 31, 2005

Reported value
—
91% in companies we cover
Positions we cover
131
Largest TD 5.4%
Copy, a year
+8.2%
S&P 500 +11.7%
Copy Sharpe ratio
0.40
S&P 500 0.62

Copy-performance statistics: January 25, 2008 to November 2, 2026. Holdings history can start earlier than the price data used for performance.

Historical holdings

Holdings across the available history, including securities outside our stock coverage. Select a date to view the holdings for that period.

Related reporting managers

SEC notices identify these reporting relationships. Each manager retains its own holdings history; changes in reporting scope can involve several managers.

164 reported entries for September 30, 2026.

IssuerClass / typeReported valueQuantity
3M Company88579Y101 · MMM Common $1,218 7,425
Abbott Lab002824100 · ABT Common $2,240 22,670
Accenture PLCG1151C101 · ACN Shs Class A $2,448 13,352
Agnico-Eagle Mines Ltd.008474108 · AEM Common $6,959 37,917
Alamos Gold011532108 · AGI Class A $47,643 1,468,239
Algonquin Power & Utilities015857105 · AQN Common $1,055 209,625
Alphabet02079K107 Class C $4,789 14,057
Alphabet Inc. Cl A02079K305 · GOOGL Cap STK Cl A $2,499 7,265
Altria Group02209S103 · MO Common $1,212 18,000
Amazon023135106 · AMZN Common $92 371
Amdocs LtdG02602103 · DOX Ordinary $246,621 4,313,065
American Express Co025816109 · AXP Common $201,817 663,655
Ameriprise Financial03076C106 · AMP Common $262,196 532,541
Amgen Inc031162100 · AMGN Common $141,433 335,540
Apple037833100 · AAPL Common $12,774 38,360
Applied Materials038222105 · AMAT Common $88,499 173,060
ATS Corp00217Y104 · ATS Common $113,186 6,247,952
AutoZone053332102 · AZO Common $164,990 58,300
Bank of America Corp.060505104 · BAC Common $27 500
Bank of Montreal063671101 · BMO Common $414,236 2,471,372
Bank of Nova Scotia064149107 · BNS Common $11,251 123,436
BCE05534B760 · BCE Com New $134 6,603
Becton Dickinson & Co075887109 · BDX Common $328,567 1,835,571
Berkshire Hathaway Inc. Cl. B084670702 Cl B New $129 260
BHP Group088606108 · BHP Spons ADS $16 200
BlackRock09290D101 · BLK Common $128,700 121,612
Boyd Group Services103310108 · BGSI Common $102,936 1,308,360
Brookfield Asset Management113004105 · BAM Class A Ltd Vtg $175,210 3,916,794
Brookfield Business Corporation113006100 Cl A Sub Vtg Sh $22,301 874,434
Brookfield Corporation11271J107 Cl A Ltd Vt Sh $240,395 6,573,596
Brookfield Infrastructure Partners L.P.G16252101 LP INT UNIT $472 13,299
Brookfield Renewable PartnersG16258108 Partnership Unit $9,268 328,308
Brookfield Wealth Solutions Ltd.G17434104 · BNT Cl A Exchangeab $3 106
CAE Inc124765108 · CAE Common $114,575 4,752,216
Canadian Imperial Bk136069101 · CM Common $18,000 163,056
Canadian Natural Resources Ltd.136385101 · CNQ Common $298,258 6,326,804
Canadian Pacific Kansas City13646K108 · CP Common $189,571 2,220,662
Carlyle Group14316J108 · CG Common $76,778 1,935,909
Cdn Natl Railway136375102 Common $220,755 1,850,164
Cencora03073E105 · COR Common $197,631 658,222
Cenovus Energy15135U109 · CVE Common $2,913 93,511
CGI Group12532H104 Cl A Sub Vtg $193,882 2,845,117
Chevron Corporation166764100 · CVX Common $488 2,390
Chubb LimitedH1467J104 · CB Common $297,814 915,648
Cisco Systems17275R102 · CSCO Common $4,457 41,415
Citigroup172967424 · C Com New $19 150
Clorox189054109 · CLX Common $163,038 2,012,569
Colgate Palmolive194162103 · CL Common $93 1,100
Colliers Intl194693107 · CIGI Sub Vtg $142,111 1,581,587
Comcast Corp20030N101 · CMCSA Common $447 20,575
Corning Inc.219350105 · GLW Common $180 1,175
CostCo Wholesale22160K105 · COST Common $2,407 2,645
Cummins Inc231021106 · CMI Common $80,062 154,989
CVS Health126650100 · CVS Common $51 600
Deere & Co.244199105 · DE Common $33 50
Denison Mines Corp248356107 · DNN Common $9,347 3,596,590
Diageo PLC25243Q205 Spons ADR New $1,937 22,635
Docebo25609L105 · DCBO Common $34,900 1,505,160
Eaton Corporation PLCG29183103 · ETN SHS $3,340 7,773
Ebay Inc278642103 · EBAY Common $340,007 3,206,101
Ecolab Inc.278865100 · ECL Common $27 100
Elevance Health036752103 · ELV Common $167,173 429,951
Emera290876101 · EMA Common $12,277 256,268
Emerson Electric Co291011104 · EMR Common $811 5,230
Enbridge Inc.29250N105 · ENB Common $2,789 59,866
Enerflex Ltd.29269R105 · EFXT Common $2 100
Eupraxia Pharmaceuticals29842P105 · EPRX Common $32,289 3,529,124
Exxon Mobil Corp30233Q108 · XOM Common $227 1,400
FIDELITY MSCI MATERIALS INDEX316092881 MSCI Matls Index $2 52
Flowserve Corp34354P105 · FLS Common $252,576 3,454,279
Fortis Inc349553107 · FTS Common $170,041 3,211,610
Franco Nevada Corp351858105 · FNV Common $312,329 1,308,824
Gen Digital668771108 · GEN Common $212 9,655
GFL Environmental36168Q104 Sub Vtg Shs $219,031 5,229,915
Gildan Activewear375916103 · GIL Common $115,137 2,696,144
GSK PLC37733W204 · GSK Spons ADR $554 11,502
Health Care Select Sector SPDR81369Y209 SBI HEALTHCARE $284 1,692
Home Depot437076102 · HD Common $47 166
Honeywell Aerospace43849R105 · HONA Common $733 4,736
Honeywell International438516205 · HON Common $2,219 10,523
Imperial Oil453038408 · IMO Com New $2,812 22,817
Invesco Aerospace & Defense ETF46137V100 ETF $7 50
Invesco S&P 500 Equal Weight Energy ETF46137V365 ETF $18 175
Invesco S&P 500 Equal Weight ETF46137V357 S&P500 Eql Wgt $488 2,350
iShares Core S&P 500 ETF464287200 CORE S&P500 ETF $1,893 2,471
iShares MBS ETF464288588 MBS ETF $34 380
iShares MSCI EAFE ETF464287465 ETF $3,215 30,943
iShares Select Dividend ETF464287168 ETF $29 195
ISHARES US FIN SERVICES ETF464287770 U.S. Fin Svc ETF $3 35
iShares US Healthcare ETF464287762 ETF $32 460
Johnson & Johnson478160104 · JNJ Common $9,258 34,971
Johnson Controls InternationalG51502105 · JCI SHS $8,929 60,070
JPMorgan Chase & Co.46625H100 · JPM Common $9,600 29,018
Kimberly Clark Corp494368103 · KMB Common $297 3,050
Magna Intl Inc559222401 · MGA Common $51 800
Magnum Ice Cream CompanyN5505D105 · MICC Ord Shs $13,565 762,988
Manulife Fincl Corp56501R106 · MFC Common $194,376 4,550,886
Marsh & McLennan571748102 · MRSH Common $245,209 1,436,242
Masco574599106 · MAS Common $230,971 3,426,878
McDonald's Corp.580135101 · MCD Common $28 125

Values use the units disclosed in the source. Where a dollar scale cannot be established, the original amount is shown as filed. Rows may include separate allocations, options and principal amounts; these are kept separate from the covered-stock portfolio used for performance.

How copying its 13F would have done

$5.0k$10.0k$20.0k$40.0k$80.0k 2008201020122014201620182020202220242026 $80.0k$43.7k
CopyS&P 500 $10,000 copying Beutel, Goodman & Co Ltd.'s usable filed holdings in companies we cover from January 25, 2008, rebalancing at the first weekly close after each usable filing and holding until the next, against the S&P 500 (total return). Missing prices carry their last observed value. Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −61.4% (S&P 500 −50.8%); beta 1.05; alpha −2.8% a year (t = −0.99); last 12 months +25.4% against +12.1%.

Reported value by quarter

Beutel, Goodman & Co Ltd.: 13F reported value Total reported value where the source's dollar units can be established. Earlier filings in thousands of dollars are converted; dates with unresolved value units are omitted.
$0 $20B $40B $60B Reported value, 2005-12-31: $3.1B Reported value, 2006-03-31: $3.2B Reported value, 2006-06-30: $3.2B Reported value, 2006-09-30: $3.2B Reported value, 2006-12-31: $3.3B Reported value, 2007-03-31: $3.1B Reported value, 2007-04-30: $4.1B Reported value, 2008-03-31: $4B Reported value, 2008-06-30: $3.8B Reported value, 2008-09-30: $3B Reported value, 2008-12-31: $2.5B Reported value, 2009-06-30: $2.9B Reported value, 2009-09-30: $3.6B Reported value, 2009-12-31: $3.6B Reported value, 2010-03-31: $3.9B Reported value, 2010-06-30: $3.5B Reported value, 2010-09-30: $3.9B Reported value, 2010-12-31: $4.9B Reported value, 2011-03-31: $5.2B Reported value, 2011-06-30: $4.8B Reported value, 2011-09-30: $4.1B Reported value, 2011-12-31: $4.5B Reported value, 2012-03-31: $5.3B Reported value, 2012-06-30: $5.3B Reported value, 2012-09-30: $5.8B Reported value, 2012-12-31: $7B Reported value, 2013-03-31: $8.2B Reported value, 2013-06-30: $6.7B Reported value, 2013-09-30: $9.1B Reported value, 2013-12-31: $11.5B Reported value, 2014-03-31: $13B Reported value, 2014-06-30: $11.8B Reported value, 2014-09-30: $11.5B Reported value, 2014-12-31: $11.2B Reported value, 2015-03-31: $10.4B Reported value, 2015-06-30: $11.8B Reported value, 2015-09-30: $9.1B Reported value, 2015-12-31: $8.3B Reported value, 2016-03-31: $9B Reported value, 2016-06-30: $9.7B Reported value, 2016-09-30: $10.3B Reported value, 2016-12-31: $11.2B Reported value, 2017-03-31: $11.4B Reported value, 2017-06-30: $11B Reported value, 2017-09-30: $13.2B Reported value, 2017-12-31: $42.3B Reported value, 2018-03-31: $13.2B Reported value, 2018-06-30: $26.9B Reported value, 2018-09-30: $13.8B Reported value, 2018-12-31: $11.7B Reported value, 2019-03-31: $26.5B Reported value, 2019-06-30: $13.8B Reported value, 2019-09-30: $14.3B Reported value, 2019-12-31: $17.4B Reported value, 2020-03-31: $10.7B Reported value, 2020-06-30: $12.2B Reported value, 2020-09-30: $12.4B Reported value, 2020-12-31: $14.8B Reported value, 2021-03-31: $15.9B Reported value, 2021-06-30: $16.8B Reported value, 2021-09-30: $16.3B Reported value, 2021-12-31: $17.5B Reported value, 2022-03-31: $17.7B Reported value, 2022-06-30: $16.1B Reported value, 2022-09-30: $14.8B 2005-12-31 2009-12-31 2013-03-31 2016-06-30 2019-09-30 2022-09-30 $14.8B
View chart data
Period Reported value
2005-12-31 $3.1B
2006-03-31 $3.2B
2006-06-30 $3.2B
2006-09-30 $3.2B
2006-12-31 $3.3B
2007-03-31 $3.1B
2007-04-30 $4.1B
2008-03-31 $4B
2008-06-30 $3.8B
2008-09-30 $3B
2008-12-31 $2.5B
2009-06-30 $2.9B
2009-09-30 $3.6B
2009-12-31 $3.6B
2010-03-31 $3.9B
2010-06-30 $3.5B
2010-09-30 $3.9B
2010-12-31 $4.9B
2011-03-31 $5.2B
2011-06-30 $4.8B
2011-09-30 $4.1B
2011-12-31 $4.5B
2012-03-31 $5.3B
2012-06-30 $5.3B
2012-09-30 $5.8B
2012-12-31 $7B
2013-03-31 $8.2B
2013-06-30 $6.7B
2013-09-30 $9.1B
2013-12-31 $11.5B
2014-03-31 $13B
2014-06-30 $11.8B
2014-09-30 $11.5B
2014-12-31 $11.2B
2015-03-31 $10.4B
2015-06-30 $11.8B
2015-09-30 $9.1B
2015-12-31 $8.3B
2016-03-31 $9B
2016-06-30 $9.7B
2016-09-30 $10.3B
2016-12-31 $11.2B
2017-03-31 $11.4B
2017-06-30 $11B
2017-09-30 $13.2B
2017-12-31 $42.3B
2018-03-31 $13.2B
2018-06-30 $26.9B
2018-09-30 $13.8B
2018-12-31 $11.7B
2019-03-31 $26.5B
2019-06-30 $13.8B
2019-09-30 $14.3B
2019-12-31 $17.4B
2020-03-31 $10.7B
2020-06-30 $12.2B
2020-09-30 $12.4B
2020-12-31 $14.8B
2021-03-31 $15.9B
2021-06-30 $16.8B
2021-09-30 $16.3B
2021-12-31 $17.5B
2022-03-31 $17.7B
2022-06-30 $16.1B
2022-09-30 $14.8B

Latest covered holdings and moves

Covered holdings as of September 30, 2026.

CompanyShare of portfolioValueSharesChange in shares
TDToronto Dominion Bank5.38%—5.80M−9.6% Reduced
BMOBank Of Montreal3.26%—2.47M−8.3% Reduced
RYRoyal Bank Of Canada3.06%—1.97M−9.7% Reduced
QCOMQualcomm2.83%—1.95M+88.5% Added
EBAYeBay Inc.2.68%—3.21M−4.8% Reduced
BDXBecton Dickinson2.59%—1.84M+9.0% Added
MDTMedtronic2.49%—3.66M−6.6% Reduced
PPGPPG Industries2.47%—3.01M−6.9% Reduced
FNVFranco Nevada Corp2.46%—1.31M+61.0% Added
SUSuncor Energy Inc2.43%—4.55M−8.1% Reduced
CNQCanadian Natural Resources Ltd2.35%—6.33M−8.2% Reduced
CBChubb Limited2.34%—915.6K−4.3% Reduced
PEPPepsiCo2.27%—2.28M+9926.2% Added
QSRRestaurant Brands International Inc.2.18%—3.89M−12.1% Reduced
UNPUnion Pacific Corporation2.17%—1.01M−3.8% Reduced
RCLRoyal Caribbean Group2.08%—993.7K+16.9% Added
AMPAmeriprise Financial2.06%—532.5K−4.2% Reduced
FLSFlowserve Corp1.99%—3.45M+4.3% Added
NTAPNetApp1.97%—1.19M−38.0% Reduced
DOXAmdocs LTD1.94%—4.31M−6.5% Reduced
MRSHMarsh McLennan1.93%—1.44M−8.7% Reduced
MASMasco1.82%—3.43M−7.7% Reduced
NTRNutrien Ltd.1.63%—2.95M−8.1% Reduced
WABWabtec1.61%—713.5K−15.7% Reduced
AXPAmerican Express1.59%—663.7K+15.8% Added
CORCencora1.56%—658.2K+29.1% Added
MFCManulife Financial Corp1.53%—4.55M−23.0% Reduced
CPCanadian Pacific Kansas City LTD1.49%—2.22M−37.6% Reduced
BAMBrookfield Asset Management Ltd.1.38%—3.92M−14.5% Reduced
MRKMerck & Co.1.36%—1.19M−42.7% Reduced
FTSFortis Inc.1.34%—3.21M−7.5% Reduced
ELVElevance Health1.32%—430.0K−25.7% Reduced
AZOAutoZone1.30%—58.3K+23.9% Added
CLXClorox1.28%—2.01MNew
OMCOmnicom Group1.24%—2.13M−31.0% Reduced
WFCWells Fargo1.20%—1.90M−2.2% Reduced
CIGIColliers International Group Inc.1.12%—1.58M−11.0% Reduced
AMGNAmgen1.11%—335.5K−35.5% Reduced
TELTE Connectivity1.06%—636.3K+2545072.0% Added
BLKBlackRock1.01%—121.6K−3.6% Reduced
SLFSUN Life Financial Inc0.99%—1.61M−7.6% Reduced
TRPTC Energy Corp0.97%—2.11M−7.6% Reduced
GILGildan Activewear Inc.0.91%—2.70M−8.5% Reduced
CAECAE Inc0.90%—4.75M−12.3% Reduced
ATSATS Corp0.89%—6.25M+30.2% Added
RBARB Global Inc.0.88%—1.37M−8.1% Reduced
BGSIBoyd Group Services Inc.0.81%—1.31M−12.3% Reduced
AMATApplied Materials0.70%—173.1K−25.1% Reduced
CMICummins0.63%—155.0K−4.4% Reduced
CGCarlyle Group Inc.0.60%—1.94M+52.4% Added
SEICSEI Investments Co0.53%—659.5K−55.9% Reduced
TFPMTriple Flag Precious Metals Corp.0.38%—1.55M+31.2% Added
AGIAlamos Gold Inc0.38%—1.47M−2.8% Reduced
DCBODocebo Inc.0.28%—1.51M−2.6% Reduced
EPRXEupraxia Pharmaceuticals Inc.0.25%—3.53M−2.7% Reduced
CMCanadian Imperial Bank Of Commerce0.14%—163.1K−16.0% Reduced
MSFTMicrosoft Corporation0.11%—27.6K−4.9% Reduced
MICCMagnum Ice Cream Co N.V.0.11%—763.0K−3.9% Reduced
AAPLApple Inc.0.10%—38.4K−5.4% Reduced
EMAEmera Inc0.10%—256.3K−4.3% Reduced
BNSBank Of Nova Scotia0.09%—123.4K−20.2% Reduced
JPMJPMorgan Chase0.08%—29.0K−1.9% Reduced
DNNDenison Mines Corp.0.07%—3.60M−2.7% Reduced
PBAPembina Pipeline Corp0.07%—207.2K−4.2% Reduced
JNJJohnson & Johnson0.07%—35.0K−4.6% Reduced
JCIJohnson Controls0.07%—60.1K−3.7% Reduced
AEMAgnico Eagle Mines LTD0.06%—37.9K−3.2% Reduced
TRIThomson Reuters Corp0.04%—57.6K−0.8% Reduced
CSCOCisco0.04%—41.4K−8.2% Reduced
TSMTaiwan Semiconductor Manufacturing Co LTD0.03%—8.9K−0.6% Reduced
ETNEaton Corporation0.03%—7.8K−3.5% Reduced
CVECenovus Energy Inc.0.02%—93.5K−0.2%
IMOImperial OIL LTD0.02%—22.8K−3.8% Reduced
ENBEnbridge Inc0.02%—59.9K−0.7% Reduced
GOOGLAlphabet Inc. (Class A)0.02%—7.3K−6.7% Reduced
ACNAccenture0.02%—13.4K−3.2% Reduced
COSTCostco0.02%—2.6K−3.6% Reduced
ABTAbbott Laboratories0.02%—22.7K−4.2% Reduced
HONHoneywell Technologies0.02%—10.5K−0.5%
NVONovo Nordisk A S0.02%—54.3K−2.0% Reduced
PGProcter & Gamble0.01%—12.5K−5.0% Reduced
TMOThermo Fisher Scientific0.01%—2.4K0.0%
WMTWalmart0.01%—14.0K−10.9% Reduced
VZVerizon0.01%—30.2K−23.0% Reduced
MDLZMondelez International0.01%—23.8K−2.1% Reduced
TUTelus Corp0.01%—162.9K−5.4% Reduced
MMM3M0.01%—7.4K−57.0% Reduced
DISThe Walt Disney Company0.01%—11.6K−2.8% Reduced
MOAltria0.01%—18.0K0.0%
AQNAlgonquin Power & Utilities Corp.0.01%—209.6K−12.0% Reduced
EMREmerson Electric0.01%—5.2K0.0%
HONAHoneywell Aerospace0.01%—4.7K−55.2% Reduced
ULUnilever PLC0.01%—11.0K−5.1% Reduced
GSKGSK plc0.00%—11.5K−0.7% Reduced
CVXChevron Corporation0.00%—2.4K0.0%
WPMWheaton Precious Metals Corp.0.00%—3.5K0.0%
NEMNewmont0.00%—4.0K0.0%
CMCSAComcast0.00%—20.6K−99.5% Reduced
SGISomnigroup International Inc.0.00%—5.6K0.0%
KMBKimberly-Clark0.00%—3.0K−99.8% Reduced
XOMExxonMobil0.00%—1.4KNew
GENGen Digital Inc.0.00%—9.7K−99.8% Reduced
GLWCorning Inc.0.00%—1.2K−33.8% Reduced
WMWaste Management0.00%—8000.0%
SHWSherwin-Williams0.00%—5000.0%
SAPSAP SE0.00%—7500.0%
BCEBCE Inc0.00%—6.6K0.0%
TJXTJX Companies0.00%—1.0K0.0%
MSMorgan Stanley0.00%—5000.0%
CLColgate-Palmolive0.00%—1.1K0.0%
AMZNAmazon0.00%—3710.0%
TSLATesla, Inc.0.00%—2250.0%
VVisa Inc.0.00%—1570.0%
CVSCVS Health0.00%—6000.0%
MGAMagna International Inc0.00%—8000.0%
HDThe Home Depot0.00%—1660.0%
DEDeere & Company0.00%—500.0%
WRNWestern Copper & Gold Corp0.00%—14.8K0.0%
PFEPfizer0.00%—1.1K0.0%
NVDANVIDIA Corporation0.00%—1320.0%
MCDMcDonald's0.00%—1250.0%
BACBank of America0.00%—5000.0%
ECLEcolab0.00%—100−50.0% Reduced
CCitigroup0.00%—1500.0%
BHPBHP Group Ltd0.00%—2000.0%
PNCPNC Financial Services0.00%—500.0%
OKEOneok0.00%—1000.0%
WNCWabash National Corp0.00%—7000.0%
BNTBrookfield Wealth Solutions Ltd.0.00%—1060.0%
METAMeta Platforms0.00%—50.0%
EFXTEnerflex Ltd.0.00%—1000.0%

None this quarter.

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

None this quarter.

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanyValue last quarterShares
IBMIBM—210
SYYSysco—946.4K
  • Financials30.0%
  • Industrials13.9%
  • Health Care11.9%
  • Consumer Discretionary11.0%
  • Technology10.0%
  • Materials8.1%
  • Energy6.6%
  • Consumer Staples4.1%
  • Utilities1.6%
  • Communication Services1.4%
  • Real Estate1.2%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestJanuary 25, 2008 to November 2, 2026+8.2%+11.7%0.400.62−61.4%1.05
2010 to 2017January 8, 2010 to December 29, 2017+7.4%+13.5%0.460.98−37.6%1.13
2018 onwardsJanuary 5, 2018 to November 2, 2026+11.0%+13.9%0.510.66−40.5%0.87
Last three yearsNovember 3, 2023 to November 2, 2026+19.7%+21.8%1.191.16−12.9%0.62
Last yearNovember 7, 2025 to November 2, 2026+26.0%+14.2%1.930.84−7.8%0.46

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.