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Livermore
Livermore
ZHEN

Beutel, Goodman & Co Ltd.

SEC CIK
0001361974
Latest filing
Aug 12, 2026

The latest 13F from Beutel, Goodman & Co Ltd. covers Q2 2026 (filed Aug 12, 2026): 163 long positions worth $13.6B. The top 10 holdings make up 29.7% of the portfolio, and the largest is Toronto Dominion Bank (TD) at 5.7%. Livermore has 24 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
5
Est. +$429.7M
Added
14
Est. +$771.9M
Reduced
96
Est. −$3.57B
Sold out
12
Est. −$125.0M

Top 5 holdings

Share of this quarter's portfolio value

  1. TDToronto Dominion Bank
    5.7%$780.4MHistory
  2. BMOBank of Montreal
    3.5%$476.3MHistory
  3. RYRoyal Bank of Canada
    3.3%$451.3MHistory
  4. PPGPPG Industries Inc
    2.9%$391.4MHistory
  5. EBAYeBay Inc
    2.8%$376.2MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. RCLRoyal Caribbean Cruises Ltd
    +$269.9MNewHistory
  2. AZOAutoZone Inc
    +$150.3MNewHistory
  3. MRSHMarsh & McLennan Companies, Inc.
    +$132.4MAddedHistory
  4. CNQCanadian Natural Resources Ltd
    +$114.0MAddedHistory
  5. BDXBecton Dickinson & Co
    +$109.2MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. RCLRoyal Caribbean Cruises Ltd
    +1.99 pp0.0% → 2.0%History
  2. AZOAutoZone Inc
    +1.11 pp0.0% → 1.1%History
  3. MRSHMarsh & McLennan Companies, Inc.
    +1.01 pp0.9% → 1.9%History
  4. MASMasco Corp
    +0.93 pp1.3% → 2.2%History
  5. BNBROOKFIELD Corp
    +0.85 pp1.1% → 1.9%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. RYRoyal Bank of Canada
    −$295.1MReducedHistory
  2. NTAPNetApp, Inc.
    −$265.7MReducedHistory
  3. QCOMQualcomm Inc
    −$253.5MReducedHistory
  4. WABWestinghouse Air Brake Technologies Corp
    −$216.4MReducedHistory
  5. MFCManulife Financial Corp
    −$170.7MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. WABWestinghouse Air Brake Technologies Corp
    −1.11 pp2.8% → 1.7%History
  2. CMCSAComcast Corp
    −1.10 pp1.9% → 0.8%History
  3. OTEXOpen Text Corp
    −0.77 pp0.8% → 0.0%History
  4. QCOMQualcomm Inc
    −0.69 pp2.1% → 1.4%History
  5. DOXAmdocs Ltd
    −0.62 pp2.3% → 1.7%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$13.6B
−$1.16B (−7.9%) vs. prior quarter
Positions
163
−7 vs. prior quarter
Top 10 concentration
29.7%
Top 10 as share of value
Turnover
8.5%
Q2 2026, one quarter
Average holding period
16.3 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $20.3B (Q3 2024)

Q1 2021: $15.9BQ2 2021: $16.8BQ3 2021: $16.3BQ4 2021: $17.5BQ1 2022: $17.7BQ2 2022: $16.1BQ3 2022: $14.8BQ4 2022: $16.5BQ1 2023: $17.0BQ2 2023: $17.8BQ3 2023: $16.9BQ4 2023: $18.9BQ1 2024: $19.4BQ2 2024: $18.8BQ3 2024: $20.3BQ4 2024: $18.4BQ1 2025: $17.4BQ2 2025: $17.6BQ3 2025: $16.6BQ4 2025: $16.3BQ1 2026: $14.8BQ2 2026: $13.6B
Q1 2021Q2 2026
13F filings of Beutel, Goodman & Co Ltd. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 12, 2026163$13.6BTDBMORYvs. Q1 2026SEC
Q1 2026May 15, 2026170$14.8BTDRYBMOvs. Q4 2025SEC
Q4 2025Feb 13, 2026174$16.3BTDRYBMOvs. Q3 2025SEC
Q3 2025Nov 14, 2025176$16.6BTDBMORYvs. Q2 2025SEC
Q2 2025Aug 13, 2025176$17.6BTDRYBMOvs. Q1 2025SEC
Q1 2025May 14, 2025Amended205$17.4BTDRYBMOvs. Q4 2024SEC
Q4 2024Feb 12, 202586$18.4BRYTDBMOvs. Q3 2024SEC
Q3 2024Nov 13, 202489$20.3BRYTDRBAvs. Q2 2024SEC
Q2 2024Aug 13, 202477$18.8BRYTDMFCvs. Q1 2024SEC
Q1 2024May 14, 2024Amended75$19.4BRYTDCNIvs. Q4 2023SEC
Q4 2023Feb 9, 202476$18.9BRYTDCNIvs. Q3 2023SEC
Q3 2023Nov 13, 202375$16.9BRYTDCNIvs. Q2 2023SEC
Q2 2023Aug 14, 202375$17.8BRYTDQSRvs. Q1 2023SEC
Q1 2023May 12, 202374$17.0BRYTDQSRvs. Q4 2022SEC
Q4 2022Feb 14, 202376$16.5BRYTDQSRvs. Q3 2022SEC
Q3 2022Nov 14, 202273$14.8BRYTDBAMvs. Q2 2022SEC
Q2 2022Aug 15, 202269$16.1BRYTDRCIvs. Q1 2022SEC
Q1 2022May 12, 202269$17.7BRYTDRCIvs. Q4 2021SEC
Q4 2021Feb 14, 202267$17.5BTDRYBAMvs. Q3 2021SEC
Q3 2021Nov 12, 202166$16.3BTDRYBAMvs. Q2 2021SEC
Q2 2021Aug 13, 202165$16.8BTDRYRCIvs. Q1 2021SEC
Q1 2021May 14, 202164$15.9BTDRYRCI–SEC

13D and 13G filings

Companies where Beutel, Goodman & Co Ltd. reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

3 companies, largest stake first.

Companies where Beutel, Goodman & Co Ltd. owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
EPRXEupraxia Pharmaceuticals Inc.13G8.00%4.06M sharesNewNov 14, 20251 filingNov 14, 2025SEC
BGSIBoyd Group Services Inc.13G7.20%1.54M sharesNewFeb 4, 20261 filingFeb 4, 2026SEC
DCBODocebo Inc.13G5.50%1.57M sharesNewJan 5, 20261 filingJan 5, 2026SEC

Latest filings

25 filings on file made by Beutel, Goodman & Co Ltd. or listing it as a reporting person; the latest 20 are shown.

Schedule 13D and 13G filings by Beutel, Goodman & Co Ltd.
CompanyFiled (ET)FormStakeChangeEvent dateFiling
Ats Automation Tooling Systems IncCommon SharesAug 7, 202612:11 PM ET13G/A4.90%4.80M shares−1.80 ppfrom 6.70%Below 5%Jul 31, 2026SEC
HOGHarley-Davidson, Inc.Feb 4, 202612:53 PM ET13G/A4.70%5.55M shares–Below 5%Jan 31, 2026SEC
BGSIBoyd Group Services Inc.Feb 4, 202612:44 PM ET13G7.20%1.54M sharesNewJan 31, 2026SEC
DCBODocebo Inc.Jan 5, 20261:00 PM ET13G5.50%1.57M sharesNewDec 31, 2025SEC
EPRXEupraxia Pharmaceuticals Inc.Nov 14, 20259:10 AM ET13G8.00%4.06M sharesNewSep 30, 2025SEC
DOOBRP Inc.Jun 6, 20252:24 PM ET13G/A0.80%280.4K shares−8.60 ppfrom 9.40%Below 5%May 31, 2025SEC
DOOBRP Inc.Jan 6, 20256:00 PM ET13G/A9.40%3.25M shares–Dec 31, 2024SEC
Ats Automation Tooling Systems IncCommon SharesJan 6, 20254:53 PM ET13G6.70%6.52M sharesNewDec 31, 2024SEC
FLSFlowserve CorpDec 4, 20245:37 PM ET13G/A2.00%2.58M shares−3.10 ppfrom 5.10%Below 5%Dec 4, 2024SEC
RBARB Global Inc.Feb 14, 202411:11 AM ET13G/A3.80%6.98M shares+3.80 ppfrom 0.00%Below 5%Dec 31, 2023SEC
RBARB Global Inc.Jan 10, 202412:53 PM ET13G/A0.00%0 shares–Below 5%Dec 31, 2023SEC
MLKNMillerknoll, Inc.Jan 10, 202412:36 PM ET13G/A0.00%0 shares–Below 5%Dec 31, 2023SEC
FLSFlowserve CorpJan 10, 202411:58 AM ET13G5.10%6.69M sharesNewDec 31, 2023SEC
DOOBRP Inc.May 10, 202313G/AOld format–––SEC
RBARB Global Inc.Jan 9, 202313GOld format–New–SEC
HOGHarley-Davidson, Inc.Jan 9, 202313GOld format–New–SEC
DOOBRP Inc.Jan 9, 202313GOld format–New–SEC
CAECae IncFeb 10, 202213G/AOld format–––SEC
Beutel, Goodman & Co Ltd.Jan 7, 20225:15 PM ET13GOld format–New–SEC
CCJCameco CorpOct 8, 202113G/AOld format–––SEC