Scheer, Rowlett & Associates Investment Management Ltd.
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 8, 2024), Scheer, Rowlett & Associates Investment Management Ltd. reported 35 stock positions worth $1.3 billion. Its top holding was Royal Bank of Canada (RY) at 10.1% of the portfolio, followed by Toronto-Dominion Bank (TD, 8.0%) and Suncor Energy (SU, 6.7%). Compared with Q1 2024, it opened 2 new positions, added to 6 and reduced 27. The biggest buy was Telus (TU, shares +87%) and the biggest sale Magna International (MGA, shares −9%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001426327
- Portfolio Value
- $1.3B (Q2 2024)
- SEC Filing
- 0001426327-24-000005 ↗ filed Aug 8, 2024
Holdings Value
Holdings 35 stocks · $1.3B
| RY Royal Bank of Canada | 10.15% | 1,244,596 | $132.5M | Reduce -0.6% |
| TD Toronto-Dominion Bank | 7.99% | 1,897,409 | $104.3M | Reduce -0.5% |
| SU Suncor Energy Inc. | 6.67% | 2,284,698 | $87.1M | Reduce -0.6% |
| TRP TC Energy Corp. | 5.90% | 2,032,995 | $77.1M | Reduce -0.6% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 5.23% | 1,492,947 | $68.3M | Reduce -0.5% |
| BN Brookfield Corp. | 4.87% | 1,528,080 | $63.6M | Reduce -0.5% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM TO | 4.59% | 1,260,258 | $59.9M | Reduce -0.6% |
| CP Canadian Pacific Kansas City | 4.02% | 667,092 | $52.5M | Reduce -0.5% |
| CNI Canadian Natl Railway Co. | 3.80% | 420,233 | $49.7M | Reduce -0.6% |
| CVE Cenovus Energy Inc. | 3.57% | 2,373,465 | $46.7M | Reduce -0.5% |
| TU Telus Corp. | 3.44% | 2,970,170 | $45.0M | Add +86.6% |
| B Barrick Gold Corp. | 3.31% | 2,592,255 | $43.2M | Add +10.8% |
| RCI Rogers Communications Inc. Class B | 3.19% | 1,128,166 | $41.7M | Add +13.4% |
| GIL Gildan Activewear Inc. | 3.19% | 1,097,330 | $41.6M | Reduce -0.6% |
| GIB Cgi Inc. | 3.01% | 393,732 | $39.3M | Reduce -9.0% |
| QSR Restaurant Brands Intern | 2.98% | 552,662 | $38.9M | Reduce -0.6% |
| MFC Manulife Financial Corp. | 2.79% | 1,367,608 | $36.4M | Reduce -0.4% |
| CNQ Canadian Natural Resources | 2.43% | 889,424 | $31.7M | Reduce -0.3% |
| NTR Nutrien Ltd. | 2.37% | 608,575 | $31.0M | Reduce -0.7% |
| ENB Enbridge Inc. | 2.30% | 845,773 | $30.1M | Reduce -13.5% |
| MGA Magna International Inc. | 2.17% | 676,385 | $28.4M | Reduce -9.3% |
| MEOH Methanex Corp. | 1.61% | 436,772 | $21.1M | Reduce -35.3% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 1.32% | 205,577 | $17.3M | Reduce -0.8% |
| TIXT Telus International Cda Inc. | 1.32% | 2,977,786 | $17.2M | Add +49.7% |
| TECK Teck Resources Ltd.-CLS B | 1.27% | 345,542 | $16.6M | Reduce -0.3% |
| GOOS Canada Goose Holdings Inc. | 1.21% | 1,224,973 | $15.8M | Reduce -0.9% |
| ASTL Algoma Steel Group Inc. | 1.16% | 2,181,283 | $15.1M | Add +49.8% |
| NEM Newmont Corp. | 0.86% | 268,026 | $11.2M | Reduce -3.1% |
| WFG West Fraser Timber Co. Ltd. | 0.83% | 140,677 | $10.8M | Reduce -0.2% |
| BBU Brookfield Business PT-Unit | 0.81% | 559,463 | $10.6M | Reduce -0.4% |
| OR Osisko Gold Royalties Ltd. | 0.75% | 627,447 | $9.8M | New |
| OTEX Open Text Corp. | 0.45% | 194,659 | $5.8M | New |
| EFXT Enerflex Ltd. | 0.42% | 1,006,444 | $5.4M | Reduce -1.1% |
| AEM Agnico Eagle Mines Ltd. | 0.02% | 4,605 | $301K | Reduce -96.8% |
| WBD Warner Bros Discovery Inc. | 0.01% | 12,785 | $95K | Add +22.5% |
Portfolio Sells Q1 2024 → Q2 2024
| MGA Magna International Inc. | Reduce -9.3% | 2.17% | −0.83 |
| AEM Agnico Eagle Mines Ltd. | Reduce -96.8% | 0.02% | −0.61 |
| MEOH Methanex Corp. | Reduce -35.3% | 1.61% | −0.61 |
| TD Toronto-Dominion Bank | Reduce -0.5% | 7.99% | −0.52 |
| GIB Cgi Inc. | Reduce -9.0% | 3.01% | −0.52 |
| BNS Bank of Nova Scotia | Reduce -0.5% | 5.23% | −0.51 |
| CP Canadian Pacific Kansas City | Reduce -0.5% | 4.02% | −0.35 |
| CNI Canadian Natl Railway Co. | Reduce -0.6% | 3.80% | −0.31 |
| ENB Enbridge Inc. | Reduce -13.5% | 2.30% | −0.31 |
| QSR Restaurant Brands Intern | Reduce -0.6% | 2.98% | −0.28 |
| TRP TC Energy Corp. | Reduce -0.6% | 5.90% | −0.18 |
| BMO Bank of Montreal | Reduce -0.8% | 1.32% | −0.17 |
| CM Can Imperial BK of Commerce | Reduce -0.6% | 4.59% | −0.16 |
| BBU Brookfield Business PT-Unit | Reduce -0.4% | 0.81% | −0.11 |
| CNQ Canadian Natural Resources | Reduce -0.3% | 2.43% | −0.09 |
| NTR Nutrien Ltd. | Reduce -0.7% | 2.37% | −0.09 |
| WFG West Fraser Timber Co. Ltd. | Reduce -0.2% | 0.83% | −0.07 |
| EFXT Enerflex Ltd. | Reduce -1.1% | 0.42% | −0.02 |
| CVE Cenovus Energy Inc. | Reduce -0.5% | 3.57% | +0.04 |
| TECK Teck Resources Ltd.-CLS B | Reduce -0.3% | 1.27% | +0.09 |
| GOOS Canada Goose Holdings Inc. | Reduce -0.9% | 1.21% | +0.11 |
| BN Brookfield Corp. | Reduce -0.5% | 4.87% | +0.12 |
| NEM Newmont Corp. | Reduce -3.1% | 0.86% | +0.13 |
| GIL Gildan Activewear Inc. | Reduce -0.6% | 3.19% | +0.16 |
| MFC Manulife Financial Corp. | Reduce -0.4% | 2.79% | +0.25 |
| SU Suncor Energy Inc. | Reduce -0.6% | 6.67% | +0.40 |
| RY Royal Bank of Canada | Reduce -0.6% | 10.15% | +0.81 |
Portfolio Buys Q1 2024 → Q2 2024
| TU Telus Corp. | Add +86.6% | 3.44% | +1.56 |
| OR Osisko Gold Royalties Ltd. | New | 0.75% | +0.75 |
| OTEX Open Text Corp. | New | 0.45% | +0.45 |
| B Barrick Gold Corp. | Add +10.8% | 3.31% | +0.43 |
| ASTL Algoma Steel Group Inc. | Add +49.8% | 1.16% | +0.24 |
| RCI Rogers Communications Inc. Class B | Add +13.4% | 3.19% | +0.18 |
| TIXT Telus International Cda Inc. | Add +49.7% | 1.32% | +0.07 |
| WBD Warner Bros Discovery Inc. | Add +22.5% | 0.01% | +0.00 |
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 |