Instuitional Investor - Beutel, Goodman & Co Ltd.

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Royal Bank Canada Montreal Que	RY	11,053,454	$1,123,284	5.95%
2.	Toronto Dominion Bank Ont	TD	14,602,695	$948,189	5.02%
3.	Canadian National Railway Co	CNI	4,779,390	$603,676	3.2%
4.	Bank Of Montreal N	BMO	575,577.7	$572,303	3.03%
5.	Manulife Financial Corp	MFC	24,745,499	$549,482	2.91%