Scheer, Rowlett & Associates Investment Management Ltd.

CIK

1426327

Location

TORONTO, A6

Portfolio Value

Mid $1,389,702,740

Diversification

Diversified

Filing Date

Global Rank

#1,470 / 8,623 ▼ 14 · as of Mar 2026

Top Industry

Banks - Diversified 27.1%

3Y Alpha vs SPY

-1.3%

Period ended 4 months ago

Filed May 11, 2026 · 3mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+65.7%

SPY

+67.9%

Annualised alpha

-0.5%

Max drawdown

−16.2%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

33 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

12.1%

+0.2 pts

Top 5

39.6%

−1.2 pts

Top 10

63.1%

+1.7 pts

HHI

539

Diversified+4

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	35.5%	$493,578,313	5
Energy	21.0%	$291,870,962	5
Basic Materials	17.9%	$249,329,664	9
Industrials	12.7%	$177,078,432	6
Communication Services	5.9%	$81,443,085	2
Consumer Cyclical	3.7%	$51,269,993	3
Technology	3.2%	$45,132,291	3

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

4 positions

Ticker	Company	Δ Shares	Shares	Value
AGI	Alamos Gold Inc	+320,044	756,989	$33,633,021
BMO	Bank Of Montreal /Can/	+131,698	596,325	$80,706,625
RY	Royal Bank Of Canada	+22,209	1,040,618	$168,351,180
FNV	FRANCO NEVADA Corp	+16,704	160,054	$39,541,340
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
MEOH	Methanex Corp	−523,099	162,425	$9,670,784
CVE	Cenovus Energy Inc.	−360,090	3,088,546	$81,939,125
B	Barrick Mining Corp	−301,306	2,046,425	$83,473,675
TD	Toronto Dominion Bank	−224,963	1,368,213	$127,667,955
MGA	Magna International Inc	−224,902	185,467	$10,350,913
MFC	Manulife Financial Corp	−207,682	1,094,428	$37,692,100
RCI	Rogers Communications Inc	−187,419	1,042,339	$40,077,934
NTR	Nutrien Ltd.	−170,672	287,859	$21,721,840
TRP	Tc Energy Corp	−131,197	803,654	$50,308,740
ASTL	Algoma Steel Group Inc.	−129,045	3,207,480	$13,246,892
TU	Telus Corp	−126,364	3,224,096	$41,365,151
BN	BROOKFIELD Corp /ON/	−75,452	1,956,028	$79,160,453
SU	Suncor Energy Inc	−50,951	1,347,051	$89,053,541
ATS	ATS Corp /ATS	−44,513	1,181,937	$33,330,623
OR	OR Royalties Inc.	−36,756	840,453	$31,954,023
CNQ	CANADIAN NATURAL RESOURCES Ltd	−29,751	762,030	$37,133,721
CNI	Canadian National Railway Co	−28,296	733,191	$75,350,039
TFII	TFI International Inc.	−27,983	242,180	$26,308,013
OTEX	Open Text Corp	−22,552	256,800	$5,711,232
ENB	Enbridge Inc	−20,990	617,581	$33,435,835
CP	Canadian Pacific Kansas City Ltd/Cn	−16,608	424,696	$33,406,587
QSR	Restaurant Brands International Inc.	−14,333	359,229	$26,547,023
GIB	Cgi Inc	−11,204	383,925	$28,064,917
TECK	Teck Resources Ltd	−10,930	277,200	$14,345,100
GIL	Gildan Activewear Inc.	−10,213	258,258	$14,372,057
No positions match the current search.

New Positions

Positions the filer opened this quarter

2 positions

Ticker	Company	Shares	Value
DSGX	Descartes Systems Group Inc	158,694	$11,356,142
TRI	Thomson Reuters Corp /Can/	94,951	$8,543,690
No positions match the current search.

Sold Out

Positions the filer fully exited

1 positions

Ticker	Company	Shares	Value	Open
BNS	Bank Of Nova Scotia	940,485	$69,304,339
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

33 tracked positions · $1,389,702,740 total · filing declares 33 positions · $1,390,491,657 · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Energy Financial Services Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
RY	Royal Bank Of Canada Financial Services	Added	1,040,618	+22,209	$168,351,180	−3.0%	12.11%
TD	Toronto Dominion Bank Financial Services	Reduced	1,368,213	-224,963	$127,667,955	−14.9%	9.19%
SU	Suncor Energy Inc Energy	Reduced	1,347,051	-50,951	$89,053,541	+43.6%	6.41%
B	Barrick Mining Corp Basic Materials	Reduced	2,046,425	-301,306	$83,473,675	−18.4%	6.01%
CVE	Cenovus Energy Inc. Energy	Reduced	3,088,546	-360,090	$81,939,125	+40.4%	5.90%
BMO	Bank Of Montreal /Can/ Financial Services	Added	596,325	+131,698	$80,706,625	+33.8%	5.81%
BN	BROOKFIELD Corp /ON/ Financial Services	Reduced	1,956,028	-75,452	$79,160,453	−15.1%	5.70%
CNI	Canadian National Railway Co Industrials	Reduced	733,191	-28,296	$75,350,039	+0.1%	5.42%
TRP	Tc Energy Corp Energy	Reduced	803,654	-131,197	$50,308,740	−2.2%	3.62%
TU	Telus Corp Communication Services	Reduced	3,224,096	-126,364	$41,365,151	−6.3%	2.98%
RCI	Rogers Communications Inc Communication Services	Reduced	1,042,339	-187,419	$40,077,934	−13.6%	2.88%
FNV	FRANCO NEVADA Corp Basic Materials	Added	160,054	+16,704	$39,541,340	+33.1%	2.85%
MFC	Manulife Financial Corp Financial Services	Reduced	1,094,428	-207,682	$37,692,100	−20.2%	2.71%
CNQ	CANADIAN NATURAL RESOURCES Ltd Energy	Reduced	762,030	-29,751	$37,133,721	+38.5%	2.67%
AGI	Alamos Gold Inc Basic Materials	Added	756,989	+320,044	$33,633,021	+99.5%	2.42%
ENB	Enbridge Inc Energy	Reduced	617,581	-20,990	$33,435,835	+9.5%	2.41%
CP	Canadian Pacific Kansas City Ltd/Cn Industrials	Reduced	424,696	-16,608	$33,406,587	+2.8%	2.40%
ATS	ATS Corp /ATS Industrials	Reduced	1,181,937	-44,513	$33,330,623	−1.3%	2.40%
OR	OR Royalties Inc. Basic Materials	Reduced	840,453	-36,756	$31,954,023	+2.9%	2.30%
GIB	Cgi Inc Technology	Reduced	383,925	-11,204	$28,064,917	−23.0%	2.02%
QSR	Restaurant Brands International Inc. Consumer Cyclical	Reduced	359,229	-14,333	$26,547,023	+4.2%	1.91%
TFII	TFI International Inc. Industrials	Reduced	242,180	-27,983	$26,308,013	−5.8%	1.89%
NTR	Nutrien Ltd. Basic Materials	Reduced	287,859	-170,672	$21,721,840	−23.2%	1.56%
GIL	Gildan Activewear Inc. Consumer Cyclical	Reduced	258,258	-10,213	$14,372,057	−14.3%	1.03%
TECK	Teck Resources Ltd Basic Materials	Reduced	277,200	-10,930	$14,345,100	+4.0%	1.03%
ASTL	Algoma Steel Group Inc. Basic Materials	Reduced	3,207,480	-129,045	$13,246,892	−3.2%	0.95%
DSGX	Descartes Systems Group Inc Technology	NEW	158,694	NEW	$11,356,142	NEW	0.82%
MGA	Magna International Inc Consumer Cyclical	Reduced	185,467	-224,902	$10,350,913	−52.7%	0.74%
MEOH	Methanex Corp Basic Materials	Reduced	162,425	-523,099	$9,670,784	−64.5%	0.70%
TRI	Thomson Reuters Corp /Can/ Industrials	NEW	94,951	NEW	$8,543,690	NEW	0.61%
OTEX	Open Text Corp Technology	Reduced	256,800	-22,552	$5,711,232	−37.2%	0.41%
AEM	Agnico Eagle Mines Ltd Basic Materials	Reduced	8,587	-525	$1,742,989	+12.8%	0.13%
CNH	CNH Industrial N.V. Industrials	Held	12,680	0	$139,480	+19.3%	0.01%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.