The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
3M CO COM 88579Y101   4,110 27,000 SH   SOLE   27,000 0 0
AFLAC INC COM 001055102   2,114 20,050 SH   SOLE   20,050 0 0
ALIBABA GROUP HOLDING-SP ADR COM 01609W102   7,920 69,837 SH   SOLE   69,837 0 0
ALPHABET INC-CL A COM 02079K305   15,573 88,370 SH   SOLE   88,370 0 0
AMAZON.COM INC COM 023135106   17,567 80,070 SH   SOLE   80,070 0 0
AMERICAN EXPRESS CO COM 025816109   3,349 10,500 SH   SOLE   10,500 0 0
APPLIED MATERIALS INC COM 038222105   14,891 81,340 SH   SOLE   81,340 0 0
AUTOZONE INC COM 053332102   10,691 2,880 SH   SOLE   2,880 0 0
BANK OF AMERICA CORP COM 060505104   980 20,720 SH   SOLE   20,720 0 0
BANK OZK COM 06417N103   10,310 219,080 SH   SOLE   219,080 0 0
BERKSHIRE HATHAWAY INC-CL B CL B 084670702   5,495 11,311 SH   SOLE   11,311 0 0
BROOKFIELD ASSET MGMT-A COM 113004105   18,928 342,681 SH   SOLE   342,681 0 0
CANADIAN NATL RAILWAY CO COM 136375102   61,452 590,955 SH   SOLE   590,955 0 0
CANADIAN NATURAL RESOURCES COM 136385101   19,686 627,619 SH   SOLE   627,619 0 0
CANADIAN PACIFIC KANSAS CITY COM 13646K108   43,913 553,890 SH   SOLE   553,890 0 0
CENTENE CORP COM 15135B101   16,123 297,042 SH   SOLE   297,042 0 0
CGI INC COM 12532H104   71,633 683,472 SH   SOLE   683,472 0 0
CHEVRON CORP COM 166764100   3,566 24,907 SH   SOLE   24,907 0 0
CUMMINS INC COM 231021106   4,685 14,305 SH   SOLE   14,305 0 0
DARDEN RESTAURANTS INC COM 237194105   7,124 32,682 SH   SOLE   32,682 0 0
DOLLAR GENERAL CORP COM 256677105   19,440 169,960 SH   SOLE   169,960 0 0
EMERA INC COM 290876101   43,856 959,314 SH   SOLE   959,314 0 0
EOG RESOURCES INC COM 26875P101   9,237 77,225 SH   SOLE   77,225 0 0
EXXON MOBIL CORP COM 30231G102   4,114 38,161 SH   SOLE   38,161 0 0
FORTIS INC COM 349553107   50,707 1,064,121 SH   SOLE   1,064,121 0 0
FRANCO-NEVADA CORP COM 351858105   40,372 246,397 SH   SOLE   246,397 0 0
HAEMONETICS CORP/MASS COM 405024100   1,077 14,440 SH   SOLE   14,440 0 0
HOME DEPOT INC COM 437076102   3,585 9,777 SH   SOLE   9,777 0 0
HORMEL FOODS CORP COM 440452100   12,545 414,710 SH   SOLE   414,710 0 0
JOHNSON & JOHNSON COM 478160104   15,464 101,240 SH   SOLE   101,240 0 0
JPMORGAN CHASE & CO COM 46625H100   6,040 20,835 SH   SOLE   20,835 0 0
LENNOX INTERNATIONAL INC COM 526107107   2,917 5,089 SH   SOLE   5,089 0 0
MAGNA INTERNATIONAL INC COM 559222401   25,129 651,377 SH   SOLE   651,377 0 0
MCKESSON CORP COM 58155Q103   2,366 3,229 SH   SOLE   3,229 0 0
MERCK & CO. INC. COM 58933Y105   11,141 140,737 SH   SOLE   140,737 0 0
MICRON TECHNOLOGY INC COM 595112103   2,275 18,455 SH   SOLE   18,455 0 0
NATIONAL RESEARCH CORP COM 637372202   6,406 381,310 SH   SOLE   381,310 0 0
NETFLIX INC COM 64110L106   4,151 3,100 SH   SOLE   3,100 0 0
NOVO-NORDISK A/S-SPONS ADR COM 670100205   8,704 126,114 SH   SOLE   126,114 0 0
NUTRIEN LTD COM 67077M108   18,298 314,643 SH   SOLE   314,643 0 0
NV5 GLOBAL INC COM 62945V109   1,448 62,700 SH   SOLE   62,700 0 0
ONE GAS INC COM 68235P108   1,008 14,030 SH   SOLE   14,030 0 0
ORACLE CORP COM 68389X105   3,856 17,635 SH   SOLE   17,635 0 0
PACCAR INC COM 693718108   4,660 49,020 SH   SOLE   49,020 0 0
PEPSICO INC COM 713448108   15,482 117,255 SH   SOLE   117,255 0 0
RB GLOBAL INC COM 74935Q107   43,875 413,817 SH   SOLE   413,817 0 0
ROGERS COMMUNICATIONS INC-B CL B 775109200   17,440 589,161 SH   SOLE   589,161 0 0
ROSS STORES INC COM 778296103   3,915 30,690 SH   SOLE   30,690 0 0
ROYAL BANK OF CANADA COM 780087102   60,209 457,766 SH   SOLE   457,766 0 0
SITIO ROYALTIES CORP-A COM 82983N108   871 47,386 SH   SOLE   47,386 0 0
SOLVENTUM CORP COM 83444M101   15,501 204,392 SH   SOLE   204,392 0 0
STANTEC INC COM 85472N109   19,555 180,085 SH   SOLE   180,085 0 0
STARBUCKS CORP COM 855244109   7,786 84,970 SH   SOLE   84,970 0 0
SUN LIFE FINANCIAL INC COM 866796105   79,334 1,194,699 SH   SOLE   1,194,699 0 0
TELUS INTERNATIONAL CDA INC COM 87975H100   27,623 7,614,325 SH   SOLE   7,614,325 0 0
TFI INTERNATIONAL INC COM 87241L109   31,604 352,781 SH   SOLE   352,781 0 0
THOR INDUSTRIES INC COM 885160101   16,080 181,066 SH   SOLE   181,066 0 0
UNILEVER PLC-SPONSORED ADR COM 904767704   11,222 183,454 SH   SOLE   183,454 0 0
UNION PACIFIC CORP COM 907818108   12,132 52,731 SH   SOLE   52,731 0 0
UNITEDHEALTH GROUP INC COM 91324P102   9,095 29,154 SH   SOLE   29,154 0 0
WALT DISNEY CO/THE COM 254687106   4,962 40,010 SH   SOLE   40,010 0 0
WELLS FARGO & CO COM 949746101   2,764 34,497 SH   SOLE   34,497 0 0
XPEL INC COM 98379L100   1,136 31,650 SH   SOLE   31,650 0 0