UNITED STATES
                             SECURITIES AND EXCHANGE
                                   COMMISSION
                             Washington, D.C. 20549

                                    Form 13F

                               FORM 13F COVER PAGE

        Report for the Calendar Year or Quarter Ended: September 30, 2009

                 Check here if Amendment [ ]; Amendment Number:

             This Amendment (Check only one.): [ ] is a restatement,
                         [ ] adds new holdings entries.

       Institutional Investment Manager Filing this Report: Goodwood Inc.

                               NAME: GOODWOOD INC.
                         212 King Street West, Suite 201
                                   Toronto, ON
                                 CANADA M5H 1K5

                         Form 13F File Number: 028-12036

The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form

PERSON SIGNING THIS REPORT ON BEHALF OF REPORTING MANAGER:

Name:  Curt S. Cumming
Title:  Chief Financial Officer
Phone (416) 203-2022

SIGNATURE, PLACE, AND DATE OF SIGNING:


            /s/ Curt S. Cumming        Toronto, Ontario      November 12, 2009
         -------------------------  ----------------------  --------------------
                [Signature]             [City, State]              [Date]







REPORT TYPE (CHECK ONLY ONE.):

[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager
are reported in this report.)

[ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all
holdings are reported by other reporting manager(s).)

[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported by
other reporting manager(s).)

List of Other Managers Reporting for this Manager:




FORM 13F SUMMARY PAGE

              Report Summary:

              Number of Other Included Managers:       0

              Form 13F Information Table Entry Total:  8

              Form 13F Information Table Value Total:  US $37,067 (thousands)


List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.

         N/A






                                                    FORM 13F INFORMATION TABLE


 ----------------------- ------------- ----------- ----------- ----------- ------ ------ ------------ ---------- -------------
|                       |             |           |           |           |      |      |            |          |   VOTING    |
|                       |             |           |           |           |      |      |            |          |  AUTHORITY  |
|                       |  TITLE OF   |           |   VALUE   | SHARES OR | SH/  | PUT/ | INVESTMENT |   OTHER  | SOLE/SHARED/|
|    NAME OF ISSUER     |   CLASS     |  CUSIP    | (X $1000) |  PRN AMT  | PRN  | CALL | DISCRETION | MANAGERS |     NONE    |
|-----------------------|-------------|-----------|-----------|-----------|------|------|------------|----------|-------------|
                                                                                               
|AGILYSYS INC           | COMMON      | 00847J105 |   4,735   |   718,445 |  SH  |      |    SOLE    |          |    718,445  |
|-----------------------|-------------|-----------|-----------|-----------|------|------|------------|----------|-------------|
|IESI BFC LTD           | COMMON      | 44951D108 |   4,289   |   332,000 |  SH  |      |    SOLE    |          |    332,000  |
|-----------------------|-------------|-----------|-----------|-----------|------|------|------------|----------|-------------|
|CELESTICA INC          | SUB VTG SHS | 15101Q108 |   4,238   |   447,000 |  SH  |      |    SOLE    |          |    447,000  |
|-----------------------|-------------|-----------|-----------|-----------|------|------|------------|----------|-------------|
|CENVEO INC             | COMMON      | 15670S105 |  10,071   | 1,455,300 |  SH  |      |    SOLE    |          |  1,455,300  |
|-----------------------|-------------|-----------|-----------|-----------|------|------|------------|----------|-------------|
|GAIAM INC              | CL A        | 36268Q103 |   5,592   |   801,116 |  SH  |      |    SOLE    |          |    801,116  |
|-----------------------|-------------|-----------|-----------|-----------|------|------|------------|----------|-------------|
|E TRADE FINANCIAL CORP | COMMON      | 269246104 |   3,675   | 2,100,000 |  SH  |      |    SOLE    |          |  2,100,000  |
|-----------------------|-------------|-----------|-----------|-----------|------|------|------------|----------|-------------|
|MINEFINDERS LTD        | COMMON      | 602900102 |   2,578   |   264,700 |  SH  |      |    SOLE    |          |    264,700  |
|-----------------------|-------------|-----------|-----------|-----------|------|------|------------|----------|-------------|
|SILVER WHEATON CORP    | COMMON      | 828336107 |   1,889   |   150,000 |  SH  |      |    SOLE    |          |    150,000  |
 ----------------------- ------------- ----------- ----------- ----------- ------ ------ ------------ ---------- -------------