Q4 2025 · 13F-HR
Beutel, Goodman & Co Ltd.holdings as filed
Filed 2026-02-13 · accession 0001361974-26-000005
$16.3M
Reported value
174
Positions
2025-12-31
Period end
The Brief · Beutel, Goodman & Co Ltd. · Q4 2025
AI · grounded in 13F
Beutel, Goodman & Co Ltd. established a new position in Toronto Dominion Bk TD valued at $756,174. The fund also initiated new stakes in Royal Bank Cda RY for $668,085 and Bank of Montreal for $648,983. Additional new positions include Chubb Limited CB at $462,317 and Medtronic PLC at $454,518.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 891160509 | TD | Toronto Dominion Bk | $756,174 | 4.65% | 8,012,730 | Common | SOLE |
| 780087102 | RY | Royal Bank Cda | $668,085 | 4.10% | 3,913,751 | Common | SOLE |
| 063671101 | BMO | Bank of Montreal | $648,983 | 3.99% | 4,990,717 | Common | SOLE |
| H1467J104 | CB | Chubb Limited | $462,317 | 2.84% | 1,481,216 | Common | SOLE |
| G5960L103 | MDT | Medtronic PLC | $454,518 | 2.79% | 4,731,611 | Common | SOLE |
| 681919106 | OMC | Omnicom Group | $454,149 | 2.79% | 5,624,143 | Common | SOLE |
| 58933Y105 | MRK | Merck& Co Inc | $427,607 | 2.63% | 4,062,393 | Common | SOLE |
| 693506107 | PPG | PPG Industries | $401,758 | 2.47% | 3,921,122 | Common | SOLE |
| 56501R106 | MFC | Manulife Fincl Corp | $400,847 | 2.46% | 11,024,527 | Common | SOLE |
| 278642103 | EBAY | Ebay Inc | $393,462 | 2.42% | 4,517,362 | Common | SOLE |
| 775109200 | RCI | Rogers Communications | $392,126 | 2.41% | 10,374,584 | Common | SOLE |
| 031162100 | AMGN | Amgen Inc | $387,028 | 2.38% | 1,182,453 | Common | SOLE |
| G02602103 | DOX | Amdocs Ltd | $381,162 | 2.34% | 4,734,354 | Common | SOLE |
| 76131D103 | QSR | Restaurant Brands International | $379,082 | 2.33% | 5,548,020 | Common | SOLE |
| 929740108 | WAB | WABTEC CORP | $372,026 | 2.29% | 1,742,919 | Common | SOLE |
| 12532H104 | GIB | CGI Group | $370,864 | 2.28% | 4,009,805 | Common | SOLE |
| 67077M108 | NTR | Nutrien | $370,669 | 2.28% | 5,997,348 | Common | SOLE |
| 64110D104 | NTAP | NetApp | $358,906 | 2.20% | 3,351,445 | Common | SOLE |
| 03076C106 | AMP | Ameriprise Financial | $355,545 | 2.18% | 725,099 | Common | SOLE |
| 668771108 | GEN | Gen Digital | $354,321 | 2.18% | 13,031,328 | Common | SOLE |
| 87807B107 | TRP | TC Energy | $333,362 | 2.05% | 6,045,999 | Common | SOLE |
| 494368103 | KMB | Kimberly Clark Corp | $327,254 | 2.01% | 3,243,674 | Common | SOLE |
| 13646K108 | CP | Canadian Pacific Kansas City | $327,155 | 2.01% | 4,437,890 | Common | SOLE |
| 747525103 | QCOM | Qualcomm | $325,085 | 2.00% | 1,900,527 | Common | SOLE |
| 20030N101 | CMCSA | Comcast Corp | $313,203 | 1.92% | 10,478,547 | Common | SOLE |
| 36168Q104 | GFL | GFL Environmental | $308,493 | 1.90% | 7,172,103 | Common | SOLE |
| 036752103 | ELV | Elevance Health | $286,713 | 1.76% | 817,896 | Common | SOLE |
| 025816109 | AXP | American Express Co | $283,062 | 1.74% | 765,136 | Common | SOLE |
| 74935Q107 | RBA | RB Global | $280,149 | 1.72% | 2,717,540 | Common | SOLE |
| 136375102 | CNI | Cdn Natl Railway | $260,409 | 1.60% | 2,629,511 | Common | SOLE |
| 103310108 | BGSI | Boyd Group Services | $250,643 | 1.54% | 1,571,469 | Common | SOLE |
| 194693107 | CIGI | Colliers Intl | $235,716 | 1.45% | 1,601,611 | Common | SOLE |
| 349553107 | FTS | Fortis Inc | $224,867 | 1.38% | 4,319,468 | Common | SOLE |
| 136385101 | CNQ | Canadian Natural Resources Ltd. | $218,242 | 1.34% | 6,434,851 | Common | SOLE |
| 574599106 | MAS | Masco | $210,102 | 1.29% | 3,310,790 | Common | SOLE |
| 124765108 | CAE | CAE Inc | $203,403 | 1.25% | 6,679,818 | Common | SOLE |
| 866796105 | SLF | Sun Life Fncl Inc | $198,353 | 1.22% | 3,173,364 | Common | SOLE |
| 867224107 | SU | Suncor Energy | $197,988 | 1.22% | 4,454,906 | Common | SOLE |
| 11271J107 | BN | Brookfield Corporation | $197,740 | 1.21% | 4,301,067 | Common | SOLE |
| 351858105 | FNV | Franco Nevada Corp | $192,504 | 1.18% | 927,474 | Common | SOLE |
| 34354P105 | FLS | Flowserve Corp | $187,538 | 1.15% | 2,703,070 | Common | SOLE |
| 683715106 | OTEX | Open Text Corp | $181,565 | 1.12% | 5,567,797 | Common | SOLE |
| 038222105 | AMAT | Applied Materials | $180,256 | 1.11% | 701,414 | Common | SOLE |
| 231021106 | CMI | Cummins Inc | $175,412 | 1.08% | 343,643 | Common | SOLE |
| 134429109 | CPB | The Campbells Company | $174,679 | 1.07% | 6,267,644 | Common | SOLE |
| 00217Y104 | ATS | ATS Corp | $161,008 | 0.99% | 5,837,138 | Common | SOLE |
| 09290D101 | BLK | BlackRock | $158,546 | 0.97% | 148,127 | Common | SOLE |
| 784117103 | SEIC | SEI Investments | $154,396 | 0.95% | 1,882,427 | Common | SOLE |
| 14316J108 | CG | Carlyle Group | $143,940 | 0.88% | 2,435,137 | Common | SOLE |
| 412822108 | HOG | Harley Davidson Inc | $130,674 | 0.80% | 6,377,492 | Common | SOLE |
| 113004105 | BAM | Brookfield Asset Management | $101,596 | 0.62% | 1,936,911 | Common | SOLE |
| 011532108 | AGI | Alamos Gold | $79,592 | 0.49% | 2,058,525 | Common | SOLE |
| 03073E105 | COR | Cencora | $67,454 | 0.41% | 199,716 | Common | SOLE |
| 89679M104 | TFPM | Triple Flag Precious Metals | $40,289 | 0.25% | 1,210,840 | Common | SOLE |
| 25609L105 | DCBO | Docebo | $34,853 | 0.21% | 1,566,943 | Common | SOLE |
| 29842P105 | EPRX | Eupraxia Pharmaceuticals | $27,926 | 0.17% | 3,709,373 | Common | SOLE |
| 78464A409 | SPYG | SPDR Portfolio S&P 500 Growth | $26,972 | 0.17% | 252,467 | Common | SOLE |
| G16234109 | — | Brookfield Business Partners | $20,716 | 0.13% | 584,663 | Common | SOLE |
| 136069101 | CM | Canadian Imperial Bk | $18,137 | 0.11% | 199,807 | Common | SOLE |
| 064149107 | BNS | Bank of Nova Scotia | $17,986 | 0.11% | 243,554 | Common | SOLE |
| 594918104 | MSFT | Microsoft | $15,175 | 0.09% | 31,378 | Common | SOLE |
| 290876101 | EMA | Emera | $14,231 | 0.09% | 288,413 | Common | SOLE |
| 037833100 | AAPL | Apple | $12,310 | 0.08% | 45,283 | Common | SOLE |
| 11259V106 | — | Brookfield Business Partners | $11,824 | 0.07% | 330,454 | Common | SOLE |
| 46625H100 | JPM | JPMorgan Chase & Co. | $10,351 | 0.06% | 32,125 | Common | SOLE |
| 248356107 | DNN | Denison Mines Corp | $10,056 | 0.06% | 3,787,059 | Common | SOLE |
| G16258108 | BEP | Brookfield Renewable Partners | $9,454 | 0.06% | 349,407 | Common | SOLE |
| 706327103 | PBA | Pembina Pipeline Corp. | $9,105 | 0.06% | 238,706 | Common | SOLE |
| 478160104 | JNJ | Johnson & Johnson | $8,579 | 0.05% | 41,456 | Common | SOLE |
| G51502105 | JCI | Johnson Controls International | $8,372 | 0.05% | 69,915 | Common | SOLE |
| 884903808 | TRI4EUR | Thomson Reuters Corp-NEW | $8,025 | 0.05% | 60,738 | Common | SOLE |
| 17275R102 | CSCO | Cisco Systems | $7,940 | 0.05% | 103,085 | Common | SOLE |
| 874039100 | TSM | Taiwan Semiconductor Manufacturing | $7,162 | 0.04% | 23,570 | Common | SOLE |
| 008474108 | AEM | Agnico-Eagle Mines Ltd. | $6,849 | 0.04% | 40,337 | Common | SOLE |
| 02079K305 | GOOGL | Alphabet Inc. Cl A | $5,057 | 0.03% | 16,158 | Common | SOLE |
| 438516106 | HON | Honeywell Intl. | $4,734 | 0.03% | 24,270 | Common | SOLE |
| N5505D105 | MICC | Magnum Ice Cream Company | $4,555 | 0.03% | 287,388 | Common | SOLE |
| G1151C101 | ACN | Accenture PLC Ireland | $4,164 | 0.03% | 15,520 | Common | SOLE |
| 464287465 | EFA | iShares MSCI EAFE ETF | $3,805 | 0.02% | 39,652 | Common | SOLE |
| 713448108 | PEP | PepsiCo Inc | $3,552 | 0.02% | 24,750 | Common | SOLE |
| 002824100 | ABT | Abbott Lab | $3,270 | 0.02% | 26,100 | Common | SOLE |
| 88579Y101 | MMM | 3M Company | $3,220 | 0.02% | 20,115 | Common | SOLE |
| 29250N105 | ENB | Enbridge Inc. | $3,117 | 0.02% | 65,066 | Common | SOLE |
| 670100205 | NVO | Novo Nordisk ADR | $3,053 | 0.02% | 60,013 | Common | SOLE |
| 02079K107 | GOOG | Alphabet | $2,970 | 0.02% | 9,465 | Common | SOLE |
| 453038408 | IMO | Imperial Oil | $2,937 | 0.02% | 33,960 | Common | SOLE |
| G29183103 | ETN | Eaton Corporation PLC | $2,867 | 0.02% | 9,003 | Common | SOLE |
| 25243Q205 | DEO | Diageo PLC | $2,776 | 0.02% | 32,180 | Common | SOLE |
| 22160K105 | COST | CostCo Wholesale | $2,668 | 0.02% | 3,094 | Common | SOLE |
| 87971M103 | TU | TELUS | $2,655 | 0.02% | 201,221 | Common | SOLE |
| 66987V109 | NVS | Novartis | $2,571 | 0.02% | 18,655 | Common | SOLE |
| 15135U109 | CVE | Cenovus Energy | $2,356 | 0.01% | 139,111 | Common | SOLE |
| 85207K107 | PSLV | Sprott Physical Silver T/U | $2,188 | 0.01% | 92,500 | Common | SOLE |
| 931142103 | WMT | Wal-Mart Stores | $2,052 | 0.01% | 18,423 | Common | SOLE |
| 742718109 | PG | Procter & Gamble | $1,976 | 0.01% | 13,795 | Common | SOLE |
| 92343V104 | VZ | Verizon Communications | $1,864 | 0.01% | 45,770 | Common | SOLE |
| 254687106 | DIS | Walt Disney | $1,827 | 0.01% | 16,060 | Common | SOLE |
| 883556102 | TMO | Thermo Fisher Scientific Inc. | $1,680 | 0.01% | 2,900 | Common | SOLE |
| 015857105 | AQN | Algonquin Power & Utilities | $1,613 | 0.01% | 262,070 | Common | SOLE |
| 949746101 | WMT2 | Wells Fargo | $1,408 | 0.01% | 15,115 | Common | SOLE |
| 83175M205 | SNN | Smith & Nephew | $1,363 | 0.01% | 41,545 | Common | SOLE |
| 609207105 | MDLZ | Mondelez Int'l Inc. 'A' | $1,357 | 0.01% | 25,225 | Common | SOLE |
| 85207H104 | PHYS | Sprott Physical Gold T/U | $1,303 | 0.01% | 39,500 | Common | SOLE |
| 02209S103 | MO | Altria Group | $1,037 | 0.01% | 18,000 | Common | SOLE |
| 219350105 | GLW | Corning Inc. | $1,002 | 0.01% | 11,450 | Common | SOLE |
| 291011104 | EMR | Emerson Electric | $893 | 0.01% | 6,730 | Common | SOLE |
| 126650100 | CVS | CVS Health | $868 | 0.01% | 10,940 | Common | SOLE |
| 464287200 | IVV | iShares Core S&P 500 ETF | $749 | 0.00% | 1,094 | Common | SOLE |
| 37733W204 | GSK | GSK PLC | $702 | 0.00% | 14,320 | Common | SOLE |
| 11285B108 | BEPC | Brookfield Renewable | $575 | 0.00% | 14,973 | Common | SOLE |
| G16252101 | BIP | Brookfield Infrastructure Partners L.P. | $520 | 0.00% | 14,977 | Common | SOLE |
| 88023U101 | SGI | Somnigroup International | $503 | 0.00% | 5,635 | Common | SOLE |
| 904767704 | — | Unilever plc | $477 | 0.00% | 7,298 | Common | SOLE |
| 81369Y209 | XLV | Health Care Select Sector SPDR | $439 | 0.00% | 2,842 | Common | SOLE |
| 962879102 | WPM | Wheaton Precious Metals Corp. | $412 | 0.00% | 3,500 | Common | SOLE |
| 651639106 | NEM | Newmont Mining Corp. | $412 | 0.00% | 4,131 | Common | SOLE |
| 907818108 | UNP | Union Pacific Corp. | $410 | 0.00% | 1,775 | Common | SOLE |
| 166764100 | CVX | Chevron Corporation | $364 | 0.00% | 2,390 | Common | SOLE |
| 83443Q103 | SOLS | Solstice Advanced Materials | $282 | 0.00% | 5,821 | Common | SOLE |
| 46090E103 | QQQ | Invesco QQQ Trust | $187 | 0.00% | 305 | Common | SOLE |
| 05534B760 | BCE | BCE | $186 | 0.00% | 7,808 | Common | SOLE |
| 803054204 | SAP | SAP SE ADR | $182 | 0.00% | 750 | Common | SOLE |
| 94106L109 | WM | Waste Management Inc | $175 | 0.00% | 800 | Common | SOLE |
| 30231G102 | XOM | Exxon Mobil Corp. | $168 | 0.00% | 1,400 | Common | SOLE |
| 824348106 | SHW | Sherwin Williams Co. | $162 | 0.00% | 500 | Common | SOLE |
| 872540109 | TJX | TJX companies | $153 | 0.00% | 1,000 | Common | SOLE |
| 084670702 | BRK/B | Berkshire Hathaway Inc. Cl. B | $130 | 0.00% | 260 | Common | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF Trust | $122 | 0.00% | 180 | Common | SOLE |
| 194162103 | CL | Colgate Palmolive | $110 | 0.00% | 1,400 | Common | SOLE |
| 88160R101 | TSLA | Tesla Motors Inc. | $101 | 0.00% | 225 | Common | SOLE |
| 023135106 | AMZN | Amazon | $99 | 0.00% | 431 | Common | SOLE |
| 617446448 | MS | Morgan Stanley | $88 | 0.00% | 500 | Common | SOLE |
| 459200101 | IBM | IBM Corp. | $62 | 0.00% | 210 | Common | SOLE |
| 437076102 | HD | Home Depot | $62 | 0.00% | 181 | Common | SOLE |
| 278865100 | ECL | Ecolab Inc. | $52 | 0.00% | 200 | Common | SOLE |
| 92826C839 | V | Visa Inc | $50 | 0.00% | 145 | Common | SOLE |
| 11276H106 | BIPC | Brookfield Infrastructure Corporation-NEW | $48 | 0.00% | 1,074 | Common | SOLE |
| 281020107 | EIX | Edison International | $45 | 0.00% | 750 | Common | SOLE |
| 559222401 | MGA | Magna Intl Inc | $42 | 0.00% | 800 | Common | SOLE |
| 95805V108 | WRN | Western Copper & Gold Corp. | $39 | 0.00% | 14,790 | Common | SOLE |
| 580135101 | MCD | McDonald's Corp. | $38 | 0.00% | 125 | Common | SOLE |
| 464287762 | IYH | iShares US Healthcare ETF | $29 | 0.00% | 460 | Common | SOLE |
| 464287168 | DVY | iShares Select Dividend ETF | $27 | 0.00% | 195 | Common | SOLE |
| 060505104 | BAC | Bank of America Corp. | $27 | 0.00% | 500 | Common | SOLE |
| 717081103 | PFE | Pfizer Inc. | $27 | 0.00% | 1,100 | Common | SOLE |
| 464288588 | MBB | iShares MBS ETF | $25 | 0.00% | 270 | Common | SOLE |
| 244199105 | DE | Deere & Co. | $23 | 0.00% | 50 | Common | SOLE |
| 693475105 | PNC | PNC Financial Services Group | $20 | 0.00% | 100 | Common | SOLE |
| 088606108 | BHP | BHP Group | $18 | 0.00% | 300 | Common | SOLE |
| 172967424 | C | Citigroup | $17 | 0.00% | 150 | Common | SOLE |
| 90353T100 | UBER | UBER Technologies Inc. | $15 | 0.00% | 190 | Common | SOLE |
| 64110L106 | NFLX | NETFLIX Inc. | $15 | 0.00% | 170 | Common | SOLE |
| 87241L109 | TFII | TFI International | $15 | 0.00% | 145 | Common | SOLE |
| 48251W104 | KKR | KKR & CO Inc. | $15 | 0.00% | 125 | Common | SOLE |
| 46137V365 | RSPG | Invesco S&P 500 Equal Weight Energy ETF | $13 | 0.00% | 175 | Common | SOLE |
| 26441C204 | DUK | Duke Energy Holding Corp. | $11 | 0.00% | 100 | Common | SOLE |
| 209115104 | ED | Consolidated Edison | $9 | 0.00% | 100 | Common | SOLE |
| 464287556 | IBB | iShares Biotechnology ETF | $7 | 0.00% | 45 | Common | SOLE |
| 682680103 | OKE | Oneok Inc. | $7 | 0.00% | 100 | Common | SOLE |
| 46137V100 | PPA | Invesco Aerospace & Defense ETF | $7 | 0.00% | 50 | Common | SOLE |
| 37954Y442 | CLOU | Global X Cloud Computing ETF | $6 | 0.00% | 270 | Common | SOLE |
| 929566107 | WNC | Wabash National Corp. | $6 | 0.00% | 700 | Common | SOLE |
| G87052109 | TEL | TE Connectivity Ltd. | $5 | 0.00% | 25 | Common | SOLE |
| 855244109 | SBUX | Starbucks Corp | $5 | 0.00% | 70 | Common | SOLE |
| 91324P102 | UNH | United Health Group Inc. | $5 | 0.00% | 18 | Common | SOLE |
| 57636Q104 | MA | MasterCard Incorporated | $4 | 0.00% | 8 | Common | SOLE |
| G17434104 | BNT | Brookfield Wealth Solutions Ltd. | $4 | 0.00% | 106 | Common | SOLE |
| 30303M102 | META | Meta Platforms | $3 | 0.00% | 5 | Common | SOLE |
| 59151K108 | MEOH | Methanex Corp. | $3 | 0.00% | 95 | Common | SOLE |
| 83444M101 | SOLV | Solventum Corp | $2 | 0.00% | 36 | Common | SOLE |
| 29269R105 | EFXT | Enerflex Ltd. | $1 | 0.00% | 100 | Common | SOLE |
| 64049M209 | NEO | NeoGenomics Inc. | $0 | — | 50 | Common | SOLE |
| 81369Y308 | XLP | Consumer Staples Select Sector SPDR | $0 | — | 10 | Common | SOLE |
| 83671M105 | SOBO | South Bow Corp. | $0 | — | 10 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.