Q2 2026 13F · SEC CIK 1361974

Beutel, Goodman & Co Ltd.

Institutional asset managerFiled 2026-08-12 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $13.6B
Reported positions: 160
Top holdings a year, 3 yrs: +16.2%
Assets under management: $36.1B

Beutel, Goodman & Co Ltd. is an institutional asset manager that reported 160 positions worth $13.6B in its Q2 2026 13F, filed 2026-08-12. Its largest holdings were Toronto Dominion Bk Ont (TD, 5.7%), Bank of Montreal (BMO, 3.5%), Royal Bk Cda (RY, 3.3%). A portfolio copying its top holdings returned 16.2% a year over the last 3 years, against 20.4% for the S&P 500.

Beutel, Goodman & Co Ltd. holdings largest 50 of 160 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Beutel, Goodman & Co Ltd. 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
TDToronto Dominion Bk Ont	5.7%	4.7%	6,420,709	-13.0%	$780.4M
BMOBank of Montreal	3.5%	2.8%	2,695,594	-13.1%	$476.3M
RYRoyal Bk Cda	3.3%	3.9%	2,180,246	-39.5%	$451.3M
PPGPpg Inds Inc	2.9%	2.7%	3,227,294	-13.1%	$391.4M
EBAYEbay Inc.	2.8%	2.6%	3,366,801	-21.3%	$376.2M
CBChubb Limited	2.4%	2.6%	957,066	-17.3%	$326.1M
QSRRestaurant Brands Intl Inc	2.4%	2.5%	4,424,521	-13.2%	$320.8M
CPCanadian Pacific Kansas City	2.3%	2.2%	3,556,364	-13.5%	$308.2M
MDTMedtronic PLC	2.3%	2.6%	3,922,276	-12.2%	$306.8M
MASMasco Corp	2.2%	1.3%	3,711,884	+17.2%	$302.0M
NTAPNetapp Inc	2.2%	2.5%	1,925,379	-47.1%	$298.0M
UNPUnion Pac Corp	2.1%	1.8%	1,052,679	-1.3%	$286.3M
CNQCanadian Nat Res Ltd Med Ter	2.0%	1.3%	6,894,705	+71.9%	$272.7M
RCLRoyal Caribbean Group	2.0%	—	850,102	—	$269.9M
RCIRogers Communications Inc	2.0%	2.5%	8,202,734	-13.6%	$266.8M
MRKMerck & Co Inc	2.0%	2.5%	2,073,206	-31.6%	$266.4M
SUSuncor Energy Inc New	2.0%	1.8%	4,947,844	+21.1%	$266.1M
BNBrookfield Corp	1.9%	1.1%	6,186,707	+55.5%	$263.9M
MRSHMarsh & Mclennan Cos	1.9%	—	1,573,890	—	$262.3M
AMPAmeriprise Finl Inc	1.9%	2.0%	555,992	-15.7%	$255.1M
BDXBecton Dickinson & Co	1.9%	1.0%	1,684,640	+74.9%	$254.9M
CNICanadian Natl Ry Co	1.8%	1.7%	2,105,136	-12.9%	$251.1M
FLSFlowserve Corp	1.8%	1.0%	3,311,766	+65.0%	$245.6M
MFCManulife Finl Corp	1.8%	2.4%	5,907,934	-41.6%	$239.5M
DOXAmdocs Ltd	1.7%	2.3%	4,614,159	-12.7%	$233.2M
WABWabtec	1.7%	2.8%	846,411	-48.7%	$228.2M
OMCOmnicom Group Inc	1.7%	2.1%	3,091,223	-25.1%	$225.1M
ELVElevance Health Inc Formerly	1.6%	1.8%	578,463	-34.8%	$223.7M
GFLGfl Environmental Inc	1.5%	1.9%	5,720,668	-13.8%	$210.3M
GIBCgi Inc	1.5%	1.8%	3,226,849	-13.5%	$208.5M
BAMBrookfield Asset Managmt Ltd	1.5%	1.6%	4,579,477	-11.7%	$205.4M
NTRNutrien Ltd	1.5%	1.9%	3,207,250	-13.3%	$202.0M
FTSFortis Inc	1.5%	1.5%	3,470,773	-12.6%	$198.8M
AXPAmerican Express Co	1.4%	1.4%	573,168	-13.7%	$193.9M
QCOMQualcomm Inc	1.4%	2.1%	1,036,274	-57.0%	$191.5M
AMGNAmgen Inc	1.4%	1.5%	520,577	-19.8%	$188.5M
RBARb Global Inc	1.3%	1.1%	1,491,437	-13.5%	$173.6M
FNVFranco Nev Corp	1.2%	1.0%	813,030	+35.2%	$169.6M
AMATApplied Matls Inc	1.2%	1.0%	231,052	-48.1%	$167.1M
CIGIColliers Intl Group Inc.	1.2%	1.5%	1,777,779	-12.5%	$166.8M
WFCWells Fargo & Co	1.2%	1.1%	1,941,758	-5.2%	$160.5M
GILGildan Activewear Inc	1.1%	1.3%	2,945,188	-13.8%	$151.8M
TRPTc Energy Corp	1.1%	1.6%	2,288,376	-39.4%	$151.5M
AZOAutozone Inc	1.1%	—	47,043	—	$150.3M
CORCencora Inc	1.1%	—	509,678	—	$144.2M
KMBKimberly-Clark Corp	1.1%	1.2%	1,303,647	-29.2%	$143.1M
GENGen Digital Inc	1.1%	1.3%	5,745,414	-44.7%	$143.0M
BGSIBoyd Group Services Inc	1.0%	1.5%	1,491,881	-13.4%	$141.2M
ATSAts Corporation	1.0%	1.0%	4,796,922	-12.1%	$138.2M
SLFSun Life Financial Inc.	1.0%	1.2%	1,743,457	-40.0%	$136.8M

What Beutel, Goodman & Co Ltd. bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

BDX Becton Dickinson & Co+74.9% shares
CNQ Canadian Nat Res Ltd Med Ter+71.9% shares
FLS Flowserve Corp+65.0% shares
BN Brookfield Corp+55.5% shares
FNV Franco Nev Corp+35.2% shares
SU Suncor Energy Inc New+21.1% shares
MAS Masco Corp+17.2% shares

Reduced

QCOM Qualcomm Inc-57.0% shares
WAB Wabtec-48.7% shares
AMAT Applied Matls Inc-48.1% shares
NTAP Netapp Inc-47.1% shares
GEN Gen Digital Inc-44.7% shares
MFC Manulife Finl Corp-41.6% shares
SLF Sun Life Financial Inc.-40.0% shares
RY Royal Bk Cda-39.5% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +25.6% /yr; S&P 500 +20.1%
3 years: +16.2% /yr; S&P 500 +20.4%
5 years: +7.9% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$13.6B	160
Q1 2026	$14.8B	165
Q4 2025	$16.3B	171
Q3 2025	$16.6B	173
Q2 2025	$17.6B	172
Q1 2025	$17.4B	202
Q4 2024	$18.4B	86
Q3 2024	$20.3B	89
Q2 2024	$18.8B	77
Q1 2024	$19.4B	75
Q4 2023	$18.9B	75
Q3 2023	$16.9B	75

Questions about Beutel, Goodman & Co Ltd.'s portfolio

What stocks does Beutel, Goodman & Co Ltd. own?

Beutel, Goodman & Co Ltd.'s latest 13F, for Q2 2026 and filed Aug 12, 2026, lists 160 positions worth $13.6B. The largest are Toronto Dominion Bk Ont (TD) at 5.7%, Bank of Montreal (BMO) at 3.5%, Royal Bk Cda (RY) at 3.3%, Ppg Inds Inc (PPG) at 2.9% and Ebay Inc. (EBAY) at 2.8%.

What did Beutel, Goodman & Co Ltd. buy last quarter?

In Q2 2026, Beutel, Goodman & Co Ltd. added Becton Dickinson & Co (BDX) (+74.9% shares), Canadian Nat Res Ltd Med Ter (CNQ) (+71.9% shares) and Flowserve Corp (FLS) (+65.0% shares), compared with its Q1 2026 filing.

What did Beutel, Goodman & Co Ltd. sell last quarter?

In Q2 2026, Beutel, Goodman & Co Ltd. cut from its top 50 Comcast Corp New (CMCSA), cut from its top 50 Cummins Inc (CMI), cut from its top 50 Cae Inc (CAE), cut from its top 50 Sei Invts Co (SEIC), Qualcomm Inc (QCOM) (-57.0% shares), Wabtec (WAB) (-48.7% shares) and Applied Matls Inc (AMAT) (-48.1% shares), compared with its Q1 2026 filing.

How has Beutel, Goodman & Co Ltd.'s portfolio performed?

A portfolio copying Beutel, Goodman & Co Ltd.'s 20 largest 13F holdings each quarter, from the day each filing was public, returned +16.2% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +25.6% against +20.1%. Over 5 years: +7.9% a year against +11.6%.

When is Beutel, Goodman & Co Ltd.'s next 13F filing due?

13F filings are due 45 days after each quarter ends. Beutel, Goodman & Co Ltd.'s filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Beutel, Goodman & Co Ltd. manage?

Beutel, Goodman & Co Ltd. reported $36.1B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $13.6B.