SR
Scheer, Rowlett & Associates Investment Management Ltd. 13F Disclosure (Q2 2026) — Portfolio & Holdings
Scheer, Rowlett & Associates Investment Management Ltd.CIK: 0001426327
Momentum followerSector-focusedQuality / disciplined sizing
Total reported value
$1.4B
Reporting period: 2026-06-30 · Number of holdings: 30
Scheer, Rowlett & Associates Investment Management Ltd. disclosed 30 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $1.4B and a quarterly turnover rate of 23.7%.
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Personality snowflake
- Concentration
- 25.02
- Portfolio Stability
- 23.68
- Momentum
- 100
- Sector conviction
- 90.33
- Diversification
- 60
- Sizing Uniformity
- 90.48
Scheer, Rowlett & Associates Investment Management Ltd.'s disclosed holdings carry a Herfindahl concentration index of 0.063 — mathematically equivalent to about 16 equally-sized positions, well below its 30 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.95), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd RY
-4.2% $38.0M
Add TD
-4.2% $31.6M
Add AEM
+2330.9% $30.6M
Trim AGI
-76.3% -$28.2M
Trim SU
-5.0% -$20.4M
Trim CVE
-13.2% -$14.9M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | RY | Royal Bank Of Canada | Stock-Financials | 14.83% | +2.73% | -4.19% | |
| 2 | TD | Toronto-dominion Bank | Stock-Financials | 11.44% | +2.26% | -4.21% | |
| 3 | CNI | Canadian Natl Railway Co | Stock-Industrials | 6.24% | +0.81% | -0.73% | |
| 4 | BN | Brookfield CORP | Stock-Financials | 5.95% | +0.25% | -0.68% | |
| 5 | BMO | Bank Of Montreal | Stock-Financials | 5.67% | -0.14% | -24.94% | |
| 6 | B | Barrick Mining CORP | Stock-Materials | 5.37% | -0.65% | -0.54% | |
| 7 | SU | Suncor Energy Inc | Stock-Energy | 4.94% | -1.47% | -5.04% | |
| 8 | CVE | Cenovus Energy Inc | Stock-Energy | 4.80% | -1.08% | -13.23% | |
| 9 | MFC | Manulife Financial CORP | Stock-Financials | 3.18% | +0.47% | -0.12% | |
| 10 | TU | Telus CORP | Stock-Other | 3.07% | +0.09% | +23.87% | |
| 11 | TRP | Tc Energy CORP | Stock-Energy | 3.05% | -0.56% | -20.23% | |
| 12 | CP | Canadian Pacific Kansas City | Stock-Industrials | 2.62% | +0.22% | -0.93% | |
| 13 | FNV | Franco-nevada CORP | Stock-Materials | 2.57% | -0.28% | +7.32% | |
| 14 | ATS | Ats CORP | Stock-Other | 2.43% | +0.03% | -0.56% | |
| 15 | RCI | Rogers Communications Inc-b | Stock-Other | 2.41% | -0.47% | -0.84% | |
| 16 | ENB | Enbridge Inc | Stock-Energy | 2.39% | -0.02% | -0.58% | |
| 17 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 2.32% | +2.19% | +2330.92% | |
| 18 | TFII | Tfi International Inc | Stock-Other | 2.15% | +0.25% | -13.94% | |
| 19 | OR | Or Royalties Inc | Stock-Other | 1.89% | -0.41% | -0.93% | |
| 20 | QSR | Restaurant Brands Intern | Stock-Consumer Disc | 1.85% | -0.06% | -1.00% | |
| 21 | CNQ | Canadian Natural Resources | Stock-Energy | 1.83% | -0.84% | -15.59% | |
| 22 | GIB | Cgi Inc | Stock-Tech | 1.76% | -0.26% | -1.43% | |
| 23 | GIL | Gildan Activewear Inc | Stock-Consumer Disc | 1.72% | +0.69% | +79.82% | |
| 24 | NTR | Nutrien LTD | Stock-Materials | 1.48% | -0.08% | +14.09% | |
| 25 | ASTL | Algoma Steel Group Inc | Stock-Other | 1.13% | +0.18% | +19.92% | |
| 26 | DSGX | Descartes Systems Grp/the | Stock-Tech | 1.09% | +0.27% | +37.70% | |
| 27 | CAE | Cae Inc | Stock-Other | 0.74% | +0.74% | NEW | |
| 28 | TRI | Thomson Reuters CORP | Stock-Industrials | 0.66% | +0.66% | NEW | |
| 29 | AGI | Alamos Gold Inc-class A | Stock-Materials | 0.39% | -2.03% | -76.28% | |
| 30 | CNH | CNH Industrial N.V. | Stock-Industrials | 0.01% | — | — |
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Portfolio Performance
Performance for Q3 2026
+2.5%
Performance Last 4 Quarters
+33.8%
- Stdev
- +14.5%
- Beta
- +0.75
- Alpha
- +5%
- Max Drawdown
- -7.7%
- Annualized Perf
- +20.8%
- Batting Avg vs S&P
- +44.4%
- Sortino
- +2.69
- Stutzer
- +0.4
- Treynor
- +0.27
- Sterling
- +1.31
- Calmar
- +2.7
- Information Ratio
- +0.01
- Tracking Error
- +11.2%
- Stdev Down
- +7.5%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +48.6%
- Worst 12 Months
- -0.4%
- Efficiency Ratio
- +0.54
- Sharpe
- +1.38
- Stdev Sectors
- +15%
- Skewness
- -0.22
- Kurtosis
- -1.01
- Upside Potential
- +4.51
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 30 | $1.4B | 24 | ||
| 2026 Q1 | 33 | $1.4B | 24 | ||
| 2025 Q4 | 32 | $1.5B | 19 | ||
| 2025 Q3 | 32 | $1.7B | 40 | ||
| 2025 Q2 | 31 | $1.5B | 0 | ||
| 2025 Q1 | 37 | $1.3B | 100 | ||
| 2024 Q4 | 37 | $1.4B | 0 | ||
| 2024 Q3 | 38 | $1.4B | 0 | ||
| 2024 Q2 | 35 | $1.3B | 0 | ||
| 2024 Q1 | 33 | $1.4B | 0 | ||
| 2023 Q4 | 32 | $1.3B | 0 | ||
| 2023 Q3 | 32 | $1.2B | 0 | ||
| 2023 Q2 | 31 | $1.2B | 0 | ||
| 2023 Q1 | 29 | $1.2B | 0 | ||
| 2022 Q4 | 31 | $1.2B | 0 | ||
| 2022 Q3 | 29 | $1.1B | 0 | ||
| 2022 Q2 | 28 | $1.3B | 0 | ||
| 2022 Q1 | 28 | $1.5B | 0 | ||
| 2021 Q4 | 29 | $1.5B | 0 | ||
| 2021 Q3 | 28 | $1.4B | 0 | ||
| 2021 Q2 | 28 | $1.4B | 100 | ||
| 2021 Q1 | 27 | $1.3B | 12 | ||
| 2020 Q4 | 29 | $1.3B | 22 | ||
| 2020 Q3 | 28 | $1.1B | 12 | ||
| 2020 Q2 | 28 | $1.1B | 19 | ||
| 2020 Q1 | 29 | $990.9M | 38 | ||
| 2019 Q4 | 27 | $1.4B | 10 | ||
| 2019 Q3 | 28 | $1.3B | 14 | ||
| 2019 Q2 | 26 | $1.5B | 21 | ||
| 2019 Q1 | 27 | $1.4B | 17 | ||
| 2018 Q4 | 27 | $1.3B | 21 | ||
| 2018 Q3 | 27 | $1.6B | 10 | ||
| 2018 Q2 | 27 | $1.6B | 14 | ||
| 2018 Q1 | 27 | $1.6B | 20 | ||
| 2017 Q4 | 27 | $1.7B | 12 | ||
| 2017 Q3 | 27 | $1.7B | 16 | ||
| 2017 Q2 | 27 | $1.5B | 16 | ||
| 2017 Q1 | 25 | $1.5B | 13 | ||
| 2016 Q4 | 27 | $1.5B | 10 | ||
| 2016 Q3 | 29 | $1.5B | 22 | ||
| 2016 Q2 | 30 | $1.7B | 15 | ||
| 2016 Q1 | 30 | $1.8B | 17 | ||
| 2015 Q4 | 29 | $1.5B | 14 | ||
| 2015 Q3 | 27 | $1.6B | 30 | ||
| 2015 Q2 | 25 | $2.0B | 8 | ||
| 2015 Q1 | 24 | $2.2B | 21 | ||
| 2014 Q4 | 24 | $2.7B | 15 | ||
| 2014 Q3 | 25 | $3.1B | 23 | ||
| 2014 Q2 | 24 | $3.8B | 7 | ||
| 2014 Q1 | 24 | $3.9B | 15 | ||
| 2013 Q4 | 24 | $4.2B | 14 | ||
| 2013 Q3 | 27 | $4.1B | 13 | ||
| 2013 Q2 | 27 | $4.0B | — |
Holding changes this quarter
Scheer, Rowlett & Associates Investment Management Ltd.'s most significant position changes for 2026-06-30: Sold out: Teck Resources Ltd-cls B (TECK); Sold out: Magna International Inc (MGA); New buy: Cae Inc (CAE); Sold out: Methanex CORP (MEOH); New buy: Thomson Reuters CORP (TRI).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | RY | Royal Bank Of Canada | +2.7% | -4.19% | Trim |
| 2 | TD | Toronto-dominion Bank | +2.3% | -4.21% | Trim |
| 3 | AEM | Agnico Eagle Mines LTD | +2.2% | +2330.92% | Add |
| 4 | CNI | Canadian Natl Railway Co | +0.8% | -0.73% | Trim |
| 5 | CAE | Cae Inc | +0.7% | NEW | New buy |
| 6 | GIL | Gildan Activewear Inc | +0.7% | +79.82% | Add |
| 7 | TRI | Thomson Reuters CORP | +0.7% | NEW | New buy |
| 8 | MFC | Manulife Financial CORP | +0.5% | -0.12% | Trim |
| 9 | DSGX | Descartes Systems Grp/the | +0.3% | +37.70% | Add |
| 10 | TFII | Tfi International Inc | +0.3% | -13.94% | Trim |
| 11 | BN | Brookfield CORP | +0.3% | -0.68% | Trim |
| 12 | CP | Canadian Pacific Kansas City | +0.2% | -0.93% | Trim |
| 13 | ASTL | Algoma Steel Group Inc | +0.2% | +19.92% | Add |
| 14 | TU | Telus CORP | +0.1% | +23.87% | Add |
| 15 | ATS | Ats CORP | 0% | -0.56% | Trim |
| 16 | CNH | CNH Industrial N.V. | — | — | Unchanged |
| 17 | ENB | Enbridge Inc | 0% | -0.58% | Trim |
| 18 | QSR | Restaurant Brands Intern | -0.1% | -1.00% | Trim |
| 19 | NTR | Nutrien LTD | -0.1% | +14.09% | Add |
| 20 | BMO | Bank Of Montreal | -0.1% | -24.94% | Trim |
| 21 | GIB | Cgi Inc | -0.3% | -1.43% | Trim |
| 22 | FNV | Franco-nevada CORP | -0.3% | +7.32% | Add |
| 23 | OTEX | Open Text CORP | -0.4% | EXIT | Sold out |
| 24 | OR | Or Royalties Inc | -0.4% | -0.93% | Trim |
| 25 | RCI | Rogers Communications Inc-b | -0.5% | -0.84% | Trim |
| 26 | TRP | Tc Energy CORP | -0.6% | -20.23% | Trim |
| 27 | TRI4EUR | Thomson Reuters CORP | -0.6% | EXIT | Sold out |
| 28 | B | Barrick Mining CORP | -0.7% | -0.54% | Trim |
| 29 | MEOH | Methanex CORP | -0.7% | EXIT | Sold out |
| 30 | MGA | Magna International Inc | -0.8% | EXIT | Sold out |
| 31 | CNQ | Canadian Natural Resources | -0.8% | -15.59% | Trim |
| 32 | TECK | Teck Resources Ltd-cls B | -1% | EXIT | Sold out |
| 33 | CVE | Cenovus Energy Inc | -1.1% | -13.23% | Trim |
| 34 | SU | Suncor Energy Inc | -1.5% | -5.04% | Trim |
| 35 | AGI | Alamos Gold Inc-class A | -2% | -76.28% | Trim |
Filing History
FAQ
What is Scheer, Rowlett & Associates Investment Management Ltd. and what type of investor is it?
Scheer, Rowlett & Associates Investment Management Ltd. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $1.4B, spread across 30 disclosed positions.
What are Scheer, Rowlett & Associates Investment Management Ltd.'s largest equity positions?
Based on the latest 13F filing, Scheer, Rowlett & Associates Investment Management Ltd.'s top holdings by market value are:
1. Royal Bank Of Canada (RY) — $206.3M (14.8%)
2. Toronto-dominion Bank (TD) — $159.2M (11.4%)
3. Canadian Natl Railway Co (CNI) — $86.8M (6.2%)
4. Brookfield CORP (BN) — $82.8M (6.0%)
5. Bank Of Montreal (BMO) — $78.9M (5.7%)
What changes did Scheer, Rowlett & Associates Investment Management Ltd. make in its most recent portfolio filing?
In the latest reported quarter, Scheer, Rowlett & Associates Investment Management Ltd. made 34 notable position adjustments: 2 new positions were initiated, 7 existing holdings were added to, 20 positions were partially reduced, and 5 were completely exited. The largest of these moves: Sold out: Teck Resources Ltd-cls B (TECK); Sold out: Magna International Inc (MGA); New buy: Cae Inc (CAE); Sold out: Methanex CORP (MEOH); New buy: Thomson Reuters CORP (TRI)
What sectors does Scheer, Rowlett & Associates Investment Management Ltd. focus on?
Scheer, Rowlett & Associates Investment Management Ltd. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 47.7%
• Energy: 19.7%
• Materials: 14.1%
• Industrials: 11.1%
• Consumer Discretionary: 4.1%
• Information Technology: 3.3%
Investment Profile
Scheer, Rowlett & Associates Investment Management Ltd. returned an annualized 20.8% over the trailing 36 months — outperforming the S&P 500 by 5.0 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.75 (less volatile than the market) and a 44% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 47.7% of the portfolio concentrated in Financials.
Its turnover score has risen from 0 to 24 over the past 4 quarters — a shift toward more active trading.
It has added to its AEM position over the past two quarters (+$30.7M, now $32.3M), while trimming B over the same stretch (-$27.5M, still holding $74.8M).
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Developer Access
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