Letters by company

Strathcona Resources Ltd.

2 letters discussing SCR. Everything written about it on this site is on its ticker page.

Smead Capital Management 2Q26 International Value Strategy Newsletter: Stampeding Towards the Next Problem Smead Capital Management argues that strong refining margins and falling global inventories contradict claims of oil-demand destruction. It favors Canadian heavy-oil producers with long-life assets, disciplined capital allocation and buyback preferences, expecting constrained North American and OPEC+ supply to require higher oil prices over time. 2Q26 CVE $53BIMO $61BIPCO $21B
Smead Capital Management 3Q26 International Value Strategy Newsletter: Being Greedy When Mr. Market Doesn’t Understand Cenovus is held as oil-sands consolidation, high returns on capital and buybacks support a premium valuation despite lower oil-price scenarios. UniCredit is positioned to consolidate Commerzbank and potentially Alpha Bank, while the strategy waits for market recognition of Autotrader, Burberry and West Fraser Timber. 3Q26 CVE $53BUCG $32B