Beutel, Goodman & Co Ltd.

hedge fundUpdated 29 days ago

Managed by Beutel, Goodman & Co Ltd. • Latest filing Q2 2026

Portfolio value

$13.6B

Q2 2026

Filings

14

Quarterly 13F history

Top-10 concentration

100.0%

Weight of largest holdings

Annualized return

-6.7%

Implied from 13F holdings

Portfolio value history

13F-disclosed portfolio value over 14 quarters

Show data table

Period	Portfolio value
Q1 2023	$17B
Q2 2023	$17.8B
Q3 2023	$16.9B
Q4 2023	$18.9B
Q1 2024	$18.8B
Q2 2024	$18.8B
Q3 2024	$20.3B
Q4 2024	$18.4B
Q1 2025	$17.4B
Q2 2025	$17.6B
Q3 2025	$16.6B
Q4 2025	$16.3B
Q1 2026	$14.8B
Q2 2026	$13.6B

Top holdings

163 positions as of Q2 2026

#	Stock	Value	Shares	% Portfolio	Change
1	T TDBCP Toronto Dominion Bk	$780.4M	6.42M	5.74%	Trimmed(-13.0%)
2	O OILD Bank of Montreal	$476.3M	2.70M	3.50%	Trimmed(-13.1%)
3	R RYLBF Royal Bank Cda	$451.3M	2.18M	3.32%	Trimmed(-39.5%)
4	P PPG PPG Industries	$391.4M	3.23M	2.88%	Trimmed(-13.1%)
5	E EBAY Ebay Inc	$376.2M	3.37M	2.77%	Trimmed(-21.3%)
6	C CB Chubb Limited	$326.1M	957.1K	2.40%	Trimmed(-17.3%)
7	Q QSR Restaurant Brands International	$320.8M	4.42M	2.36%	Trimmed(-13.2%)
8	C CP Canadian Pacific Kansas City	$308.2M	3.56M	2.27%	Trimmed(-13.5%)
9	M MDT Medtronic PLC	$306.8M	3.92M	2.26%	Trimmed(-12.2%)
10	M MAS Masco	$302M	3.71M	2.22%	Added(+17.2%)
11	N NTAP NetApp	$298M	1.93M	2.19%	Trimmed(-47.1%)
12	U UNP Union Pacific Corp.	$286.3M	1.05M	2.11%	Trimmed(-1.3%)
13	C CNQ Canadian Natural Resources Ltd.	$272.7M	6.89M	2.01%	Added(+71.9%)
14	R RCL Royal Caribbean	$269.9M	850.1K	1.99%	—
15	R RCIAF Rogers Communications	$266.8M	8.20M	1.96%	Trimmed(-13.6%)
16	M MRK Merck& Co Inc	$266.4M	2.07M	1.96%	Trimmed(-31.6%)
17	S SU Suncor Energy	$266.1M	4.95M	1.96%	Added(+21.1%)
18	B BXDIF Brookfield Corporation	$263.9M	6.19M	1.94%	Added(+55.5%)
19	M MRSH Marsh & McLennan	$262.3M	1.57M	1.93%	Added(+101.8%)
20	A AMP Ameriprise Financial	$255.1M	556.0K	1.88%	Trimmed(-15.7%)

T

Toronto Dominion Bk

-13.0%

Value

$780.4M

Shares

6.42M

% Port

5.74%

O

Bank of Montreal

-13.1%

Value

$476.3M

Shares

2.70M

% Port

3.50%

R

Royal Bank Cda

-39.5%

Value

$451.3M

Shares

2.18M

% Port

3.32%

P

PPG Industries

-13.1%

Value

$391.4M

Shares

3.23M

% Port

2.88%

E

Ebay Inc

-21.3%

Value

$376.2M

Shares

3.37M

% Port

2.77%

C

6.CB

Chubb Limited

-17.3%

Value

$326.1M

Shares

957.1K

% Port

2.40%

Q

Restaurant Brands International

-13.2%

Value

$320.8M

Shares

4.42M

% Port

2.36%

C

8.CP

Canadian Pacific Kansas City

-13.5%

Value

$308.2M

Shares

3.56M

% Port

2.27%

M

Medtronic PLC

-12.2%

Value

$306.8M

Shares

3.92M

% Port

2.26%

M

10.MAS

Masco

+17.2%

Value

$302M

Shares

3.71M

% Port

2.22%

N

NetApp

-47.1%

Value

$298M

Shares

1.93M

% Port

2.19%

U

12.UNP

Union Pacific Corp.

-1.3%

Value

$286.3M

Shares

1.05M

% Port

2.11%

C

13.CNQ

Canadian Natural Resources Ltd.

+71.9%

Value

$272.7M

Shares

6.89M

% Port

2.01%

R

14.RCL

Royal Caribbean

Value

$269.9M

Shares

850.1K

% Port

1.99%

R

Rogers Communications

-13.6%

Value

$266.8M

Shares

8.20M

% Port

1.96%

M

16.MRK

Merck& Co Inc

-31.6%

Value

$266.4M

Shares

2.07M

% Port

1.96%

S

17.SU

Suncor Energy

+21.1%

Value

$266.1M

Shares

4.95M

% Port

1.96%

B

Brookfield Corporation

+55.5%

Value

$263.9M

Shares

6.19M

% Port

1.94%

M

Marsh & McLennan

+101.8%

Value

$262.3M

Shares

1.57M

% Port

1.93%

A

20.AMP

Ameriprise Financial

-15.7%

Value

$255.1M

Shares

556.0K

% Port

1.88%

View full portfolio (163 holdings) →

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