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Scheer, Rowlett & Associates Investment Management Ltd.

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13F filer, CIK 1426327, TORONTO, Ontario, Canada

Scheer, Rowlett & Associates Investment Management Ltd. reported $1,349,837,212 across 37 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-12. Its ten largest share positions make up 58.51% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001426327-25-000007

Period
2025-03-31
Reported value
$1.35B
Holdings
37
Top 10 weight
58.51%
New
1
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BMOadded+206,159$19.7M
ATSadded+483,507$12.1M
RCIadded+325,071$8.68M
BARRICK GOLD CORPadded+342,127$6.64M
NEMadded+100,788$4.86M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
CMreduced-511,487-$28.8M
BNSreduced-241,609-$11.5M
BBUexited-460,629-$10.8M
TRPreduced-153,846-$7.27M
NTRreduced-73,772-$3.66M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001426327-25-000007, largest first. % of portfolio is the value over $1,349,837,212, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
RYROYAL BK CDAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,229,055 shares; 2024Q4: 1,242,836 shares; 2025Q1: 1,283,071 shares 1,283,071$145M10.71%+40,235Timeline
TDTORONTO DOMINION BK ONTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,896,008 shares; 2024Q4: 2,000,901 shares; 2025Q1: 2,056,970 shares 2,056,970$123M9.13%+56,069Timeline
BNBROOKFIELD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,495,654 shares; 2024Q4: 1,511,750 shares; 2025Q1: 1,550,275 shares 1,550,275$81.1M6.01%+38,525Timeline
TRPTC ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,018,506 shares; 2024Q4: 1,851,112 shares; 2025Q1: 1,697,266 shares 1,697,266$80.2M5.94%-153,846Timeline
CNICANADIAN NATL RY COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 494,511 shares; 2024Q4: 710,796 shares; 2025Q1: 730,893 shares 730,893$71.1M5.27%+20,097Timeline
SUSUNCOR ENERGY INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,850,781 shares; 2024Q4: 1,754,555 shares; 2025Q1: 1,804,212 shares 1,804,212$69.9M5.18%+49,657Timeline
BARRICK GOLD CORPBARRICK GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,561,865 shares; 2024Q4: 2,592,213 shares; 2025Q1: 2,934,340 shares 2,934,340$57M4.22%+342,127
BNSBANK NOVA SCOTIA B CQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,468,670 shares; 2024Q4: 1,396,185 shares; 2025Q1: 1,154,576 shares 1,154,576$54.8M4.06%-241,609Timeline
CVECENOVUS ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,163,034 shares; 2024Q4: 3,786,011 shares; 2025Q1: 3,895,976 shares 3,895,976$54.2M4.01%+109,965Timeline
BMOBANK OF MONTREALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 214,070 shares; 2024Q4: 356,924 shares; 2025Q1: 563,083 shares 563,083$53.8M3.98%+206,159Timeline
GIBCGI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 389,188 shares; 2024Q4: 490,663 shares; 2025Q1: 505,237 shares 505,237$50.4M3.74%+14,574Timeline
TUTELUS CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,233,944 shares; 2024Q4: 3,403,521 shares; 2025Q1: 3,501,231 shares 3,501,231$50.2M3.72%+97,710Timeline
RCIROGERS COMMUNICATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,163,098 shares; 2024Q4: 1,443,877 shares; 2025Q1: 1,768,948 shares 1,768,948$47.2M3.5%+325,071Timeline
CPCANADIAN PACIFIC KANSAS CITYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 551,626 shares; 2024Q4: 615,873 shares; 2025Q1: 634,083 shares 634,083$44.5M3.3%+18,210Timeline
MFCMANULIFE FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,382,077 shares; 2024Q4: 1,312,537 shares; 2025Q1: 1,351,667 shares 1,351,667$42.1M3.12%+39,130Timeline
QSRRESTAURANT BRANDS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 610,343 shares; 2024Q4: 645,072 shares; 2025Q1: 621,300 shares 621,300$41.4M3.07%-23,772Timeline
ENBENBRIDGE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 838,313 shares; 2024Q4: 857,666 shares; 2025Q1: 883,680 shares 883,680$39.1M2.9%+26,014Timeline
MGAMAGNA INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 926,411 shares; 2024Q4: 984,755 shares; 2025Q1: 983,905 shares 983,905$33.4M2.48%-850Timeline
NTRNUTRIEN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 602,723 shares; 2024Q4: 671,989 shares; 2025Q1: 598,217 shares 598,217$29.7M2.2%-73,772Timeline
CNQCANADIAN NAT RES LTD MED TERQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 878,345 shares; 2024Q4: 890,610 shares; 2025Q1: 917,170 shares 917,170$28.2M2.09%+26,560Timeline
CMCANADIAN IMPERIAL BANK OF COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,167,732 shares; 2024Q4: 916,026 shares; 2025Q1: 404,539 shares 404,539$22.8M1.69%-511,487Timeline
OSISKO GOLD ROYALTIES LTDOSISKO GOLD ROYALTIES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 965,801 shares; 2024Q4: 980,133 shares; 2025Q1: 1,050,599 shares 1,050,599$22.2M1.64%+70,466
NEMNEWMONT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 268,080 shares; 2024Q4: 273,653 shares; 2025Q1: 374,441 shares 374,441$18.1M1.34%+100,788Timeline
MEOHMETHANEX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 433,122 shares; 2024Q4: 439,069 shares; 2025Q1: 452,943 shares 452,943$15.9M1.18%+13,874Timeline
ASTLALGOMA STL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,157,313 shares; 2024Q4: 2,179,362 shares; 2025Q1: 2,908,572 shares 2,908,572$15.8M1.17%+729,210Timeline
ATSATS CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 148,984 shares; 2025Q1: 632,491 shares 632,491$15.8M1.17%+483,507Timeline
SOBOSOUTH BOW CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 391,457 shares; 2025Q1: 402,934 shares 402,934$10.3M0.76%+11,477Timeline
TELUS INTL CDA INCTELUS INTL CDA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,151,263 shares; 2024Q4: 3,189,850 shares; 2025Q1: 3,579,740 shares 3,579,740$9.6M0.71%+389,890
GOOSCANADA GOOSE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,203,985 shares; 2024Q4: 1,218,326 shares; 2025Q1: 1,020,801 shares 1,020,801$8.1M0.6%-197,525Timeline
OTEXOPEN TEXT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 196,899 shares; 2024Q4: 264,108 shares; 2025Q1: 273,038 shares 273,038$6.89M0.51%+8,930Timeline
TECKTECK RESOURCES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 171,333 shares; 2024Q4: 174,703 shares; 2025Q1: 178,803 shares 178,803$6.51M0.48%+4,100Timeline
AEMAGNICO EAGLE MINES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,805 shares; 2024Q4: 4,976 shares; 2025Q1: 5,746 shares 5,746$623K0.05%+770Timeline
LBRDALIBERTY BROADBAND CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,290 shares; 2024Q4: 3,290 shares; 2025Q1: 3,290 shares 3,290$280K0.02%0Timeline
WTWWILLIS TOWERS WATSON PLC LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 693 shares; 2024Q4: 693 shares; 2025Q1: 693 shares 693$234K0.02%0Timeline
CNHCNH INDL N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,420 shares; 2024Q4: 15,240 shares; 2025Q1: 17,970 shares 17,970$221K0.02%+2,730Timeline
TSNTYSON FOODS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 3,350 shares 3,350$214K0.02%newTimeline
WBDWARNER BROS DISCOVERY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,785 shares; 2024Q4: 12,785 shares; 2025Q1: 12,785 shares 12,785$137K0.01%0Timeline

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
BBUBROOKFIELD BUSINESS PARTNERS L460,629$10.8Mshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001426327-25-000007 base2025-05-12acceptance time not in the bulk data set