# Scheer, Rowlett & Associates Investment Management Ltd.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1426327. Source: https://holderbook.com/funds/1426327-scheer-rowlett-associates-investment-management-ltd/

- Reported value: $1.4B
- Positions: 30
- Weight of the ten largest: 65.5%
- Filed: 2026-08-13

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ROYAL BK CDA | [RY](https://holderbook.com/stocks/RY/) | $206.3M | 997,064 | 14.8% | 31 |
| TORONTO DOMINION BK ONT | [TD](https://holderbook.com/stocks/TD/) | $159.2M | 1,310,657 | 11.4% | 31 |
| CANADIAN NATL RY CO | [CNI](https://holderbook.com/stocks/CNI/) | $86.8M | 727,812 | 6.2% | 31 |
| BROOKFIELD CORP | [BN](https://holderbook.com/stocks/BN/) | $82.8M | 1,942,657 | 6.0% | 15 |
| BANK MONTREAL MEDIUM | [BMO](https://holderbook.com/stocks/BMO/) | $78.9M | 447,594 | 5.7% | 22 |
| BARRICK MNG CORP | [B](https://holderbook.com/stocks/B/) | $74.8M | 2,035,333 | 5.4% | 5 |
| SUNCOR ENERGY INC NEW | [SU](https://holderbook.com/stocks/SU/) | $68.8M | 1,279,194 | 4.9% | 31 |
| CENOVUS ENERGY INC | [CVE](https://holderbook.com/stocks/CVE/) | $66.8M | 2,680,018 | 4.8% | 31 |
| MANULIFE FINL CORP | [MFC](https://holderbook.com/stocks/MFC/) | $44.3M | 1,093,093 | 3.2% | 20 |
| TELUS CORPORATION | [TU](https://holderbook.com/stocks/TU/) | $42.8M | 3,993,829 | 3.1% | 31 |
| TC ENERGY CORP | [TRP](https://holderbook.com/stocks/TRP/) | $42.4M | 641,071 | 3.0% | 29 |
| CANADIAN PACIFIC KANSAS CITY | [CP](https://holderbook.com/stocks/CP/) | $36.4M | 420,738 | 2.6% | 13 |
| FRANCO NEV CORP | [FNV](https://holderbook.com/stocks/FNV/) | $35.8M | 171,766 | 2.6% | 4 |
| ATS CORPORATION | [ATS](https://holderbook.com/stocks/ATS/) | $33.8M | 1,175,268 | 2.4% | 7 |
| ROGERS COMMUNICATIONS INC | [RCI](https://holderbook.com/stocks/RCI/) | $33.6M | 1,033,603 | 2.4% | 31 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $33.3M | 613,996 | 2.4% | 31 |
| AGNICO EAGLE MINES LTD | [AEM](https://holderbook.com/stocks/AEM/) | $32.3M | 208,743 | 2.3% | 18 |
| TFI INTERNATIONAL INC | [TFII](https://holderbook.com/stocks/TFII/) | $30.0M | 208,421 | 2.2% | 4 |
| OR ROYALTIES INC. | [OR](https://holderbook.com/stocks/OR/) | $26.3M | 832,658 | 1.9% | 5 |
| RESTAURANT BRANDS INTL INC | [QSR](https://holderbook.com/stocks/QSR/) | $25.8M | 355,630 | 1.9% | 19 |
| CANADIAN NAT RES LTD MED TER | [CNQ](https://holderbook.com/stocks/CNQ/) | $25.4M | 643,233 | 1.8% | 31 |
| CGI INC | [GIB](https://holderbook.com/stocks/GIB/) | $24.4M | 378,430 | 1.8% | 25 |
| GILDAN ACTIVEWEAR INC | [GIL](https://holderbook.com/stocks/GIL/) | $23.9M | 464,399 | 1.7% | 4 |
| NUTRIEN LTD | [NTR](https://holderbook.com/stocks/NTR/) | $20.6M | 328,425 | 1.5% | 31 |
| ALGOMA STL GROUP INC | [ASTL](https://holderbook.com/stocks/ASTL/) | $15.7M | 3,846,390 | 1.1% | 13 |
| DESCARTES SYS GROUP INC | [DSGX](https://holderbook.com/stocks/DSGX/) | $15.1M | 218,527 | 1.1% | 2 |
| CAE INC | [CAE](https://holderbook.com/stocks/CAE/) | $10.3M | 410,130 | 0.7% | 1 |
| THOMSON REUTERS CORP | [TRI](https://holderbook.com/stocks/TRI/) | $9.2M | 112,198 | 0.7% | 1 |
| ALAMOS GOLD INC | [AGI](https://holderbook.com/stocks/AGI/) | $5.4M | 179,580 | 0.4% | 3 |
| CNH INDL N V | [CNH](https://holderbook.com/stocks/CNH/) | $142.4K | 12,680 | 0.0% | 3 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +4.8% | +14.8% | -10.0% | 100% |
| Q1 2026 | +5.8% | -4.6% | +10.4% | 100% |
| Q4 2025 | +7.7% | +2.4% | +5.4% | 100% |
| Q3 2025 | +10.5% | +7.8% | +2.7% | 100% |
| Q2 2025 | +11.3% | +10.5% | +0.8% | 98% |
| Q1 2025 | -2.8% | -4.6% | +1.7% | 100% |
| Q4 2024 | -5.8% | +2.1% | -8.0% | 100% |
| Q3 2024 | +11.6% | +5.4% | +6.1% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.4B | 30 |
| Q1 2026 | $1.4B | 33 |
| Q4 2025 | $1.5B | 32 |
| Q3 2025 | $1.7B | 32 |
| Q2 2025 | $1.5B | 31 |
| Q1 2025 | $1.3B | 37 |
| Q4 2024 | $1.4B | 37 |
| Q3 2024 | $1.4B | 38 |
| Q2 2024 | $1.3B | 35 |
| Q1 2024 | $1.4B | 33 |
| Q4 2023 | $1.3B | 32 |
| Q3 2023 | $1.2B | 32 |