BEUTEL GOODMAN & CO LTD
Q3 2026 Form 13-F

TORONTO, ONTARIO, CANADA
CIK 0001361974 · CRD 135829 · SEC-registered investment adviser
$12.7B Reported Value Total

BEUTEL, GOODMAN & COMPANY LTD. reports 1,847 total accounts under management (AUM). There are 1,765 discretionary accounts valued at $29,137,000,000, and 82 non-discretionary accounts valued at $6,972,000,000.

Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
SEC Registered Discretionary & Non-Discretionary
Source: Form ADV filed 2026-03-30
Reported value
$12.7B
Quarter over quarter
-0.7%
Holdings
162
Top-10 concentration
29.6%

Filing Structure

Reports holdings for

Holdings reported by

Key People

Form ADV owners & control persons
Stephen John Arpin
DIRECTOR, MANAGING DIRECTOR, HEAD OF CANADIAN EQUITIES
Rui Machado Cardoso
DIRECTOR, MANAGING DIRECTOR, HEAD OF GLOBAL EQUITIES
Jackie Corneil
DIRECTOR, MANAGING DIRECTOR, HEAD OF FINANCE & ADMINISTRATION
Q2 2026

Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.

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Q3 2026 13F filing summary

Period of report September 30, 2026
Filed November 04, 2026
Form 13F-HR
Reported value $12.7B
Positions 162
Change in reported value -6.5%
New positions 8
Exited positions 7
Position turnover 8.9%
Top-10 concentration 29.6%

13F filings by quarter

Quarter Positions Value
Q3 2026 13F
Filed Nov 4, 2026
 162 $12.7B
Q2 2026 13F
Filed Aug 12, 2026
 160 $13.6B
Q1 2026 13F
Filed May 15, 2026
 164 $14.8B
Q4 2025 13F
Filed Feb 13, 2026
 170 $16.3B
Q3 2025 13F
Filed Nov 14, 2025
 171 $16.6B
Q2 2025 13F
Filed Aug 13, 2025
 171 $17.6B
Q1 2025 13F
Filed May 12, 2025
 200 $17.4B
Q4 2024 13F
Filed Feb 12, 2025
 86 $18.4B
Q3 2024 13F
Filed Nov 13, 2024
 89 $20.3B
Q2 2024 13F
Filed Aug 13, 2024
 77 $18.8B
Q1 2024 13F
Filed May 13, 2024
 75 $19.4B
Q4 2023 13F
Filed Feb 9, 2024
 75 $18.9B
Q3 2023 13F
Filed Nov 13, 2023
 75 $16.9B
Q2 2023 13F
Filed Aug 14, 2023
 75 $17.8B
Q1 2023 13F
Filed May 12, 2023
 74 $17.0B
Q4 2022 13F
Filed Feb 14, 2023
 75 $16.5B
Q3 2022 13F
Filed Nov 14, 2022
 72 $14.8B
Q2 2022 13F
Filed Aug 15, 2022
 68 $16.1B
Q1 2022 13F
Filed May 12, 2022
 68 $17.7B
Q4 2021 13F
Filed Feb 14, 2022
 66 $17.5B

34 earlier quarters on file — choose one from the quarter menu above.

Top 20 holdings · Q3 2026

# Holding Reported value % of portfolio
1 TD Toronto Dominion Bk $683.9M 5.38%
2 BMO Bank of Montreal $414.2M 3.26%
3 RY Royal Bank Cda $388.1M 3.05%
4 QCOM Qualcomm $359.5M 2.83%
5 EBAY Ebay Inc $340.0M 2.68%
6 BDX Becton Dickinson & Co $328.6M 2.59%
7 MDT Medtronic PLC $316.0M 2.49%
8 PPG PPG Industries $313.6M 2.47%
9 FNV Franco Nevada Corp $312.3M 2.46%
10 SU Suncor Energy $308.9M 2.43%
11 CNQ Canadian Natural Resources Ltd. $298.3M 2.35%
12 CB Chubb Limited $297.8M 2.34%
13 PEP PepsiCo Inc $288.9M 2.27%
14 QSR Restaurant Brands International $277.5M 2.18%
15 UNP Union Pacific Corp. $275.6M 2.17%
16 RCL Royal Caribbean $264.2M 2.08%
17 AMP Ameriprise Financial $262.2M 2.06%
18 FLS Flowserve Corp $252.6M 1.99%
19 NTAP NetApp $250.6M 1.97%
20 DOX Amdocs Ltd $246.6M 1.94%

Values as reported on the Q3 2026 Form 13F. Every position is in the holdings table below.

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