Scheer, Rowlett & Associates Investment Management Ltd.

Portfolio Overview

Scheer, Rowlett & Associates Investment Management Ltd. disclosed 33 positions worth $1.4B in its Form 13F-HR for Q1 2026, led by $RY (ROYAL BANK OF CANADA) at 12.1% of the equity portfolio, followed by $TD and $SU. During the quarter the fund opened 2 new positions and exited 1 — including a new stake in $DSGX and a full exit from $BNS. The portfolio is most concentrated in Financials (29.8% of disclosed assets). All figures are sourced directly from Scheer, Rowlett & Associates Investment Management Ltd.’s Form 13F-HR filing with the SEC under CIK 1426327.

• 

  ROYAL BANK OF CANADA

  $RY

  —

  Quality

  $168.3M1,040,618 sh
• 

  TORONTO DOMINION BANK

  $TD

  —

  Quality

  $127.6M1,368,213 sh
• 

  SUNCOR ENERGY INC

  $SU

  —

  Quality

  $89.1M1,347,051 sh
• 

  BARRICK MINING CORP

  $B

  —

  Quality

  $83.6M2,046,425 sh
• 

  CENOVUS ENERGY INC.

  $CVE

  —

  Quality

  $81.7M3,088,546 sh
• 

  BANK OF MONTREAL /CAN/

  $BMO

  —

  Quality

  $80.8M596,325 sh
• 

  BROOKFIELD Corp /ON/

  $BN

  —

  Quality

  $79.3M1,956,028 sh
• 

  CANADIAN NATIONAL RAILWAY CO

  $CNI

  —

  Quality

  $75.5M733,191 sh
• 

  TC ENERGY CORP

  $TRP

  —

  Quality

  $50.2M803,654 sh
• 

  TELUS CORP

  $TU

  —

  Quality

  $41.5M3,224,096 sh

Company	Quality	Value	Shares
ROYAL BANK OF CANADA$RY	—	$168.3M	1,040,618
TORONTO DOMINION BANK$TD	—	$127.6M	1,368,213
SUNCOR ENERGY INC$SU	—	$89.1M	1,347,051
BARRICK MINING CORP$B	—	$83.6M	2,046,425
CENOVUS ENERGY INC.$CVE	—	$81.7M	3,088,546
BANK OF MONTREAL /CAN/$BMO	—	$80.8M	596,325
BROOKFIELD Corp /ON/$BN	—	$79.3M	1,956,028
CANADIAN NATIONAL RAILWAY CO$CNI	—	$75.5M	733,191
TC ENERGY CORP$TRP	—	$50.2M	803,654
TELUS CORP$TU	—	$41.5M	3,224,096

Showing top 10 of 33 holdings.

Full Holdings — Scheer, Rowlett & Associates Investment Management Ltd. (Q1 2026)

All 33 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	$RY	ROYAL BANK OF CANADA	$168.3M	12.1%	+2%	—
2	$TD	TORONTO DOMINION BANK	$127.6M	9.2%	-14%	—
3	$SU	SUNCOR ENERGY INC	$89.1M	6.4%	-4%	—
4	$B	BARRICK MINING CORP	$83.6M	6.0%	-13%	—
5	$CVE	CENOVUS ENERGY INC.	$81.7M	5.9%	-10%	—
6	$BMO	BANK OF MONTREAL /CAN/	$80.8M	5.8%	+28%	—
7	$BN	BROOKFIELD Corp /ON/	$79.3M	5.7%	-4%	—
8	$CNI	CANADIAN NATIONAL RAILWAY CO	$75.5M	5.4%	-4%	—
9	$TRP	TC ENERGY CORP	$50.2M	3.6%	-14%	—
10	$TU	TELUS CORP	$41.5M	3.0%	-4%	—
11	$RCI	ROGERS COMMUNICATIONS INC	$40.1M	2.9%	-15%	—
12	$FNV	FRANCO NEVADA Corp	$39.6M	2.9%	+12%	—
13	$MFC	MANULIFE FINANCIAL CORP	$37.7M	2.7%	-16%	—
14	$CNQ	CANADIAN NATURAL RESOURCES Ltd	$37.2M	2.7%	-4%	—
15	$AGI	ALAMOS GOLD INC	$33.7M	2.4%	+73%	—
16	$ENB	ENBRIDGE INC	$33.5M	2.4%	-3%	—
17	$CP	CANADIAN PACIFIC KANSAS CITY LTD/CN	$33.4M	2.4%	-4%	—
18	$ATS	ATS Corp /ATS	$33.3M	2.4%	-4%	—
19	$OR	OR Royalties Inc.	$32.0M	2.3%	-4%	—
20	$GIB	CGI INC	$28.1M	2.0%	-3%	—
21	$QSR	Restaurant Brands International Inc.	$26.6M	1.9%	-4%	71.2
22	$TFII	TFI International Inc.	$26.4M	1.9%	-10%	—
23	$NTR	Nutrien Ltd.	$21.7M	1.6%	-37%	—
24	$GIL	Gildan Activewear Inc.	$14.4M	1.0%	-4%	—
25	$TECK	TECK RESOURCES LTD	$14.3M	1.0%	-4%	—
26	$ASTL	Algoma Steel Group Inc.	$13.2M	0.9%	-4%	—
27	$DSGX	DESCARTES SYSTEMS GROUP INC	$11.4M	0.8%	NEW	—
28	$MGA	MAGNA INTERNATIONAL INC	$10.4M	0.8%	-55%	—
29	$MEOH	METHANEX CORP	$9.7M	0.7%	-76%	—
30	$TRI	THOMSON REUTERS CORP /CAN/	$8.6M	0.6%	NEW	—
31	$OTEX	OPEN TEXT CORP	$5.7M	0.4%	-8%	—
32	$AEM	AGNICO EAGLE MINES LTD	$1.7M	0.1%	-6%	—
33	$CNH	CNH Industrial N.V.	$139,480	0.0%	+0%	—