BEUTEL, GOODMAN & CO LTD.

PrivateCIK: 1361974

Location

TORONTO, A6

163

Positions

$13.59M

Total AUM (reported)

171.07M

Total Shares

Allocation by class

COMMON$11.35M83.6%

ADR (2 ORD)$451.3K3.3%

CLASS B NON VTG$320.8K2.4%

CL A LTD VT SH$263.9K1.9%

ORDINARY$233.2K1.7%

SUB VTG SHS$210.3K1.5%

CL A SUB VTG$208.5K1.5%

Portfolio Concentration

Top 3$1.71M12.6%

4–10$2.33M17.2%

11–25$3.93M28.9%

Rest$5.62M41.3%

Top 3 weight

12.6%

Top 10 weight

29.7%

Voting Authority Distribution

Total shares with voting rights: 171.07M

Sole

Full voting authority

165.44M

% of voting shares96.7%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

5.63M

% of voting shares3.3%

Investment Discretion (by position count)

Sole163

Shared0

Other0

Dominant voting typeSole · 96.7% of voting shares

Institutional Holdings163

Rows:

Toronto Dominion Bk

SOLE

Common

Shares6.42M

TypeSH

Market value$780.4K

5.74%

Sole

6.32M

Shared

0.00

None

100.05K

Bank of Montreal

SOLE

Common

Shares2.70M

TypeSH

Market value$476.3K

3.50%

Sole

2.70M

Shared

0.00

None

60.00

Royal Bank Cda

SOLE

ADR (2 ORD)

Shares2.18M

TypeSH

Market value$451.3K

3.32%

Sole

2.14M

Shared

0.00

None

35.27K

PPG Industries

SOLE

Common

Shares3.23M

TypeSH

Market value$391.4K

2.88%

Sole

2.98M

Shared

0.00

None

242.59K

Ebay Inc

SOLE

Common

Shares3.37M

TypeSH

Market value$376.2K

2.77%

Sole

3.21M

Shared

0.00

None

161.42K

Chubb Limited

SOLE

Common

Shares957.07K

TypeSH

Market value$326.1K

2.40%

Sole

913.22K

Shared

0.00

None

43.85K

Restaurant Brands International

SOLE

Class B Non VTG

Shares4.42M

TypeSH

Market value$320.8K

2.36%

Sole

4.29M

Shared

0.00

None

132.38K

Canadian Pacific Kansas City

SOLE

Common

Shares3.56M

TypeSH

Market value$308.2K

2.27%

Sole

3.56M

Shared

0.00

None

85.00

Medtronic PLC

SOLE

Common

Shares3.92M

TypeSH

Market value$306.8K

2.26%

Sole

3.64M

Shared

0.00

None

279.02K

Masco

SOLE

Common

Shares3.71M

TypeSH

Market value$302.0K

2.22%

Sole

3.39M

Shared

0.00

None

324.87K

NetApp

SOLE

Common

Shares1.93M

TypeSH

Market value$298.0K

2.19%

Sole

1.78M

Shared

0.00

None

146.04K

Union Pacific Corp.

SOLE

Common

Shares1.05M

TypeSH

Market value$286.3K

2.11%

Sole

Shared

0.00

None

50.75K

Canadian Natural Resources Ltd.

SOLE

Common

Shares6.89M

TypeSH

Market value$272.7K

2.01%

Sole

6.89M

Shared

0.00

None

170.00

Royal Caribbean

SOLE

Common

Shares850.10K

TypeSH

Market value$269.9K

1.99%

Sole

807.53K

Shared

0.00

None

42.57K

Rogers Communications

SOLE

Common

Shares8.20M

TypeSH

Market value$266.8K

1.96%

Sole

8.01M

Shared

0.00

None

197.56K

Merck& Co Inc

SOLE

Common

Shares2.07M

TypeSH

Market value$266.4K

1.96%

Sole

1.89M

Shared

0.00

None

179.82K

Suncor Energy

SOLE

Common

Shares4.95M

TypeSH

Market value$266.1K

1.96%

Sole

4.95M

Shared

0.00

None

115.00

Brookfield Corporation

SOLE

Cl A Ltd Vt Sh

Shares6.19M

TypeSH

Market value$263.9K

1.94%

Sole

6.19M

Shared

0.00

None

157.00

Marsh & McLennan

SOLE

Common

Shares1.57M

TypeSH

Market value$262.3K

1.93%

Sole

1.42M

Shared

0.00

None

152.27K

Ameriprise Financial

SOLE

Common

Shares555.99K

TypeSH

Market value$255.1K

1.88%

Sole

525.97K

Shared

0.00

None

30.03K

Becton Dickinson & Co

SOLE

Common

Shares1.68M

TypeSH

Market value$254.9K

1.88%

Sole

1.54M

Shared

0.00

None

145.16K

Cdn Natl Railway

SOLE

Common

Shares2.11M

TypeSH

Market value$251.1K

1.85%

Sole

2.01M

Shared

0.00

None

90.54K

Flowserve Corp

SOLE

Common

Shares3.31M

TypeSH

Market value$245.6K

1.81%

Sole

3.05M

Shared

0.00

None

260.94K

Manulife Fincl Corp

SOLE

Common

Shares5.91M

TypeSH

Market value$239.5K

1.76%

Sole

5.91M

Shared

0.00

None

140.00

Amdocs Ltd

SOLE

Ordinary

Shares4.61M

TypeSH

Market value$233.2K

1.72%

Sole

4.29M

Shared

0.00

None

326.82K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
Toronto Dominion BkSOLE	Common	6.42M	SH	$780.4K 5.74%	6.32M	100.05K
Bank of MontrealSOLE	Common	2.70M	SH	$476.3K 3.50%	2.70M	60.00
Royal Bank CdaSOLE	ADR (2 ORD)	2.18M	SH	$451.3K 3.32%	2.14M	35.27K
PPG IndustriesSOLE	Common	3.23M	SH	$391.4K 2.88%	2.98M	242.59K
Ebay IncSOLE	Common	3.37M	SH	$376.2K 2.77%	3.21M	161.42K
Chubb LimitedSOLE	Common	957.07K	SH	$326.1K 2.40%	913.22K	43.85K
Restaurant Brands InternationalSOLE	Class B Non VTG	4.42M	SH	$320.8K 2.36%	4.29M	132.38K
Canadian Pacific Kansas CitySOLE	Common	3.56M	SH	$308.2K 2.27%	3.56M	85.00
Medtronic PLCSOLE	Common	3.92M	SH	$306.8K 2.26%	3.64M	279.02K
MascoSOLE	Common	3.71M	SH	$302.0K 2.22%	3.39M	324.87K
NetAppSOLE	Common	1.93M	SH	$298.0K 2.19%	1.78M	146.04K
Union Pacific Corp.SOLE	Common	1.05M	SH	$286.3K 2.11%	1M	50.75K
Canadian Natural Resources Ltd.SOLE	Common	6.89M	SH	$272.7K 2.01%	6.89M	170.00
Royal CaribbeanSOLE	Common	850.10K	SH	$269.9K 1.99%	807.53K	42.57K
Rogers CommunicationsSOLE	Common	8.20M	SH	$266.8K 1.96%	8.01M	197.56K
Merck& Co IncSOLE	Common	2.07M	SH	$266.4K 1.96%	1.89M	179.82K
Suncor EnergySOLE	Common	4.95M	SH	$266.1K 1.96%	4.95M	115.00
Brookfield CorporationSOLE	Cl A Ltd Vt Sh	6.19M	SH	$263.9K 1.94%	6.19M	157.00
Marsh & McLennanSOLE	Common	1.57M	SH	$262.3K 1.93%	1.42M	152.27K
Ameriprise FinancialSOLE	Common	555.99K	SH	$255.1K 1.88%	525.97K	30.03K
Becton Dickinson & CoSOLE	Common	1.68M	SH	$254.9K 1.88%	1.54M	145.16K
Cdn Natl RailwaySOLE	Common	2.11M	SH	$251.1K 1.85%	2.01M	90.54K
Flowserve CorpSOLE	Common	3.31M	SH	$245.6K 1.81%	3.05M	260.94K
Manulife Fincl CorpSOLE	Common	5.91M	SH	$239.5K 1.76%	5.91M	140.00
Amdocs LtdSOLE	Ordinary	4.61M	SH	$233.2K 1.72%	4.29M	326.82K

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