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
AGNICO EAGLE MINES LTD COM 008474108   28,732,279 367,446 SH   OTR 1 355,056 12,390 0
ALPHABET INC CLASS A CAP STK CL A 02079K305   795,060 4,200 SH   SOLE   4,200 0 0
ALPHABET INC CLASS C CAP STK CL C 02079K107   233,289 1,225 SH   SOLE   1,225 0 0
APPLE INC. COM 037833100   1,060,529 4,235 SH   SOLE   4,235 0 0
ATS CORPORATION COM 00217Y104   21,873,279 717,571 SH   OTR 1 698,956 18,615 0
BANK OF NOVA SCOTIA COM 064149107   25,586,083 476,721 SH   OTR 1 460,758 15,963 0
BERKSHIRE HATHAWAY INC. - CL B CL B NEW 084670702   1,808,587 3,990 SH   SOLE   3,990 0 0
CANADIAN IMPERIAL BANK OF COMMERCE COM 136069101   24,486,800 387,299 SH   OTR 1 373,258 14,041 0
CANADIAN NATIONAL RAILWAY CO COM 136375102   223,288 2,200 SH   SOLE   2,200 0 0
CANADIAN NATURAL RESOURCES LTD COM 136385101   24,542,242 795,332 SH   OTR 1 768,236 27,096 0
CANADIAN PACIFIC KANSAS CITY LTD COM 13646K108   20,609,717 284,791 SH   OTR 1 275,090 9,701 0
CENOVUS ENERGY INC COM 15135U109   21,049,074 1,389,304 SH   OTR 1 1,340,109 49,195 0
CENOVUS ENERGY INC - WARRANT *W EXP 01/01/202 15135U117   417,524 39,402 SH   SOLE   39,402 0 0
CGI INC CL A SUB VTG 12532H104   21,544,690 197,010 SH   OTR 1 190,416 6,594 0
CHUBB LTD COM H1467J104   1,463,561 5,297 SH   SOLE   5,297 0 0
COLGATE PALMOLIVE CO COM 194162103   109,092 1,200 SH   SOLE   1,200 0 0
ENBRIDGE INC COM 29250N105   34,320,387 809,045 SH   OTR 1 780,570 28,475 0
GREENBRIER COMPANIES INC COM 393657101   3,670,317 60,179 SH   SOLE   60,179 0 0
HENRY SCHEIN INC. COM 806407102   3,562,139 51,476 SH   SOLE   51,476 0 0
HUDBAY MINERALS INC COM 443628102   21,187,915 2,613,432 SH   OTR 1 2,528,460 84,972 0
ING GROEP NV - ADR SPONSORED ADR 456837103   1,664,279 106,208 SH   SOLE   106,208 0 0
JPMORGAN CHASE & CO COM 46625H100   1,260,875 5,260 SH   SOLE   5,260 0 0
MANULIFE FINANCIAL CORP COM 56501R106   23,998,113 781,573 SH   OTR 1 755,455 26,118 0
MICROSOFT CORP COM 594918104   867,447 2,058 SH   SOLE   2,058 0 0
NIKE INC CL B 654106103   30,268 400 SH   SOLE   400 0 0
NUTRIEN LTD COM 67077M108   24,209,276 541,324 SH   OTR 1 522,905 18,419 0
OSHKOSH CORP. COM 688239201   4,299,731 45,227 SH   SOLE   45,227 0 0
PRO SHARES ULTRA PRO SHORT ETF ULTRAPRO SHT QQQ 74347G192   307,663 9,880 SH   SOLE   9,880 0 0
RESTAURANT BRANDS INTERNATIONAL INC. COM 76131D103   18,730,933 287,533 SH   OTR 1 278,112 9,421 0
ROYAL BANK OF CANADA COM 780087102   471,199 3,910 SH   SOLE   3,910 0 0
SOUTH BOW CORPORATION COM 83671M105   8,561 363 SH   SOLE   363 0 0
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD - ADR SPONSORED ADR 874039100   831,433 4,210 SH   SOLE   4,210 0 0
TC ENERGY CORP COM 87807B107   84,587 1,816 SH   SOLE   1,816 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102   832,888 1,601 SH   SOLE   1,601 0 0
WABTEC CORP COM 929740108   697,312 3,678 SH   SOLE   3,678 0 0
WEST FRASER TIMBER CO LTD COM 952845105   13,730,047 158,544 SH   OTR 1 153,239 5,305 0
ZIMMER BIOMET HOLDINGS INC COM 98956P102   971,796 9,200 SH   SOLE   9,200 0 0