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
APPLIED MATLS INC COM 038222105   76,843,815 529,519 SH   SOLE   489,910 0 39,609
BROADCOM INC COM 11135F101   69,436,414 414,719 SH   SOLE   384,197 0 30,522
BROOKFIELD CORP CL A LTD VT SH 11271J107   1,019,569 19,485 SH   SOLE   19,485 0 0
CARRIER GLOBAL CORPORATION COM 14448C104   76,156,191 1,201,202 SH   SOLE   1,111,900 0 89,302
CANADIAN NATL RY CO COM 136375102   798,449 8,206 SH   SOLE   8,206 0 0
CINTAS CORP COM 172908105   105,790,734 514,722 SH   SOLE   476,319 0 38,403
COLLIERS INTL GROUP INC SUB VTG SHS 194693107   914,038 7,554 SH   SOLE   7,554 0 0
DOMINOS PIZZA INC COM 25754A201   92,085,163 200,425 SH   SOLE   185,438 0 14,987
FIRSTSERVICE CORP NEW COM 33767E202   991,120 5,978 SH   SOLE   5,978 0 0
GE AEROSPACE COM NEW 369604301   105,020,621 524,710 SH   SOLE   485,641 0 39,069
INTUIT COM 461202103   87,593,354 142,663 SH   SOLE   132,035 0 10,628
ELI LILLY & CO COM 532457108   97,684,580 118,275 SH   SOLE   109,366 0 8,909
MARSH & MCLENNAN COS INC COM 571748102   107,458,051 440,348 SH   SOLE   407,666 0 32,682
MASTERCARD INCORPORATED CL A 57636Q104   107,252,213 195,673 SH   SOLE   181,086 0 14,587
MCKESSON CORP COM 58155Q103   115,943,096 172,281 SH   SOLE   159,398 0 12,883
MICROCHIP TECHNOLOGY INC. COM 595017104   79,906,353 1,650,617 SH   SOLE   1,526,954 0 123,663
MICROSOFT CORP COM 594918104   84,282,355 224,519 SH   SOLE   207,743 0 16,776
MOODYS CORP COM 615369105   92,982,080 199,665 SH   SOLE   184,801 0 14,864
MSCI INC COM 55354G100   88,639,351 156,745 SH   SOLE   145,059 0 11,686
OLD DOMINION FREIGHT LINE IN COM 679580100   84,735,743 512,153 SH   SOLE   473,492 0 38,661
OPEN TEXT CORP COM 683715106   810,938 32,135 SH   SOLE   32,135 0 0
S&P GLOBAL INC COM 78409V104   355,670 700 SH   SOLE   700 0 0
SHERWIN WILLIAMS CO COM 824348106   100,595,524 288,082 SH   SOLE   266,664 0 21,418
SPDR S&P 500 ETF TR TR UNIT 78462F103   5,118,979 9,151 SH   SOLE   9,151 0 0
TFI INTL INC COM 87241L109   603,297 7,793 SH   SOLE   7,793 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102   80,767,874 162,315 SH   SOLE   150,205 0 12,110
THOMSON REUTERS CORP COM 884903808   994,700 5,765 SH   SOLE   5,765 0 0
UNITEDHEALTH GROUP INC COM 91324P102   96,011,549 183,316 SH   SOLE   169,614 0 13,702
VISA INC COM CL A 92826C839   109,188,420 311,557 SH   SOLE   288,365 0 23,192
WABTEC COM 929740108   88,744,992 489,358 SH   SOLE   452,778 0 36,580
WASTE CONNECTIONS INC COM 94106B101   1,081,423 5,549 SH   SOLE   5,549 0 0
ZOETIS INC CL A 98978V103   88,183,829 535,584 SH   SOLE   496,088 0 39,496