Scheer, Rowlett & Associates Investment Management Ltd.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 9, 2024), Scheer, Rowlett & Associates Investment Management Ltd. reported 33 stock positions worth $1.4 billion. Its top holding was Royal Bank of Canada (RY) at 9.3% of the portfolio, followed by Toronto-Dominion Bank (TD, 8.5%) and Suncor Energy (SU, 6.3%). Compared with Q4 2023, it opened 1 new position, added to 3 and reduced 29. The biggest buy was Royal Bank of Canada (RY, shares +15%) and the biggest sale Toronto-Dominion Bank (TD, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001426327
- Portfolio Value
- $1.4B (Q1 2024)
- SEC Filing
- 0001426327-24-000002 ↗ filed May 9, 2024
Holdings Value
Holdings 33 stocks · $1.4B
| RY Royal Bank of Canada | 9.34% | 1,251,576 | $126.3M | Add +15.2% |
| TD Toronto-Dominion Bank | 8.51% | 1,906,354 | $115.1M | Reduce -0.1% |
| SU Suncor Energy Inc. | 6.27% | 2,297,548 | $84.8M | Reduce -0.2% |
| TRP TC Energy Corp. | 6.08% | 2,044,875 | $82.2M | Reduce -0.4% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 5.74% | 1,500,797 | $77.7M | Reduce -4.8% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM TO | 4.75% | 1,267,310 | $64.3M | Reduce -10.3% |
| BN Brookfield Corp. | 4.75% | 1,535,040 | $64.3M | Reduce -0.4% |
| CP Canadian Pacific Kansas City | 4.37% | 670,732 | $59.2M | Reduce -3.1% |
| CNI Canadian Natl Railway Co. | 4.12% | 422,553 | $55.7M | Reduce -3.4% |
| GIB Cgi Inc. | 3.53% | 432,569 | $47.7M | Reduce -0.2% |
| CVE Cenovus Energy Inc. | 3.53% | 2,385,715 | $47.7M | Reduce -0.2% |
| QSR Restaurant Brands Intern | 3.26% | 555,802 | $44.2M | Reduce -0.3% |
| GIL Gildan Activewear Inc. | 3.03% | 1,104,100 | $41.0M | Reduce -10.6% |
| RCI Rogers Communications Inc. Class B | 3.02% | 995,116 | $40.8M | Reduce -7.3% |
| MGA Magna International Inc. | 3.00% | 745,474 | $40.6M | Reduce -0.4% |
| B Barrick Gold Corp. | 2.88% | 2,340,443 | $38.9M | Reduce -0.8% |
| ENB Enbridge Inc. | 2.61% | 977,563 | $35.3M | Reduce -0.0% |
| MFC Manulife Financial Corp. | 2.54% | 1,372,878 | $34.3M | Reduce -0.3% |
| CNQ Canadian Natural Resources | 2.52% | 446,117 | $34.0M | Reduce -0.2% |
| NTR Nutrien Ltd. | 2.46% | 612,805 | $33.3M | Add +16.3% |
| MEOH Methanex Corp. | 2.23% | 675,258 | $30.1M | Reduce -0.2% |
| TU Telus Corp. | 1.88% | 1,592,000 | $25.5M | Reduce -0.1% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 1.50% | 207,177 | $20.2M | Reduce -0.2% |
| TIXT Telus International Cda Inc. | 1.25% | 1,989,246 | $16.9M | Reduce -0.2% |
| TECK Teck Resources Ltd.-CLS B | 1.17% | 346,592 | $15.9M | Reduce -0.2% |
| GOOS Canada Goose Holdings Inc. | 1.10% | 1,236,743 | $14.9M | Add +33.6% |
| BBU Brookfield Business PT-Unit | 0.92% | 561,533 | $12.4M | Reduce -0.4% |
| ASTL Algoma Steel Group Inc. | 0.92% | 1,455,820 | $12.4M | Reduce -0.2% |
| WFG West Fraser Timber Co. Ltd. | 0.90% | 140,997 | $12.2M | Reduce -9.6% |
| NEM Newmont Corp. | 0.73% | 276,646 | $9.9M | Reduce -1.2% |
| AEM Agnico Eagle Mines Ltd. | 0.63% | 143,947 | $8.6M | Reduce -2.0% |
| EFXT Enerflex Ltd. | 0.44% | 1,018,034 | $5.9M | Reduce -0.6% |
| WBD Warner Bros Discovery Inc. | 0.01% | 10,435 | $91K | New |
Portfolio Sells Q4 2023 → Q1 2024
| TD Toronto-Dominion Bank | Reduce -0.1% | 8.51% | −0.81 |
| RCI Rogers Communications Inc. Class B | Reduce -7.3% | 3.02% | −0.78 |
| CM Can Imperial BK of Commerce | Reduce -10.3% | 4.75% | −0.39 |
| B Barrick Gold Corp. | Reduce -0.8% | 2.88% | −0.34 |
| MGA Magna International Inc. | Reduce -0.4% | 3.00% | −0.34 |
| TU Telus Corp. | Reduce -0.1% | 1.88% | −0.26 |
| MEOH Methanex Corp. | Reduce -0.2% | 2.23% | −0.19 |
| ASTL Algoma Steel Group Inc. | Reduce -0.2% | 0.92% | −0.19 |
| NEM Newmont Corp. | Reduce -1.2% | 0.73% | −0.14 |
| WFG West Fraser Timber Co. Ltd. | Reduce -9.6% | 0.90% | −0.11 |
| BNS Bank of Nova Scotia | Reduce -4.8% | 5.74% | −0.06 |
| BMO Bank of Montreal | Reduce -0.2% | 1.50% | −0.06 |
| GIL Gildan Activewear Inc. | Reduce -10.6% | 3.03% | −0.05 |
| TIXT Telus International Cda Inc. | Reduce -0.2% | 1.25% | −0.05 |
| ENB Enbridge Inc. | Reduce -0.0% | 2.61% | −0.05 |
| CNI Canadian Natl Railway Co. | Reduce -3.4% | 4.12% | −0.04 |
| QSR Restaurant Brands Intern | Reduce -0.3% | 3.26% | −0.02 |
| TRP TC Energy Corp. | Reduce -0.4% | 6.08% | +0.02 |
| GIB Cgi Inc. | Reduce -0.2% | 3.53% | +0.02 |
| AEM Agnico Eagle Mines Ltd. | Reduce -2.0% | 0.63% | +0.03 |
| BBU Brookfield Business PT-Unit | Reduce -0.4% | 0.92% | +0.04 |
| TECK Teck Resources Ltd.-CLS B | Reduce -0.2% | 1.17% | +0.06 |
| EFXT Enerflex Ltd. | Reduce -0.6% | 0.44% | +0.08 |
| BN Brookfield Corp. | Reduce -0.4% | 4.75% | +0.08 |
| CP Canadian Pacific Kansas City | Reduce -3.1% | 4.37% | +0.24 |
| MFC Manulife Financial Corp. | Reduce -0.3% | 2.54% | +0.24 |
| CNQ Canadian Natural Resources | Reduce -0.2% | 2.52% | +0.30 |
| CVE Cenovus Energy Inc. | Reduce -0.2% | 3.53% | +0.52 |
| SU Suncor Energy Inc. | Reduce -0.2% | 6.27% | +0.70 |
Portfolio Buys Q4 2023 → Q1 2024
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 30 | $1.4B | RY, TD, CNI, BN, BMO |
| Q1 2026 | 33 | $1.4B | RY, TD, SU, B, CVE |
| Q4 2025 | 32 | $1.5B | RY, TD, B, BN, CNI |
| Q3 2025 | 32 | $1.7B | RY, TD, BN, B, CNI |
| Q2 2025 | 31 | $1.5B | RY, TD, BN, CNI, TRP |
| Q1 2025 | 37 | $1.3B | RY, TD, BN, TRP, CNI |
| Q4 2024 | 37 | $1.4B | RY, TD, BN, TRP, BNS |
| Q3 2024 | 38 | $1.4B | RY, TD, TRP, BNS, BN |
| Q2 2024 | 35 | $1.3B | RY, TD, SU, TRP, BNS |
| Q1 2024 | 33 | $1.4B | RY, TD, SU, TRP, BNS |