SCHEDULE 13G 0002054638 XXXXXXXX LIVE Common Stock, no par value 03/31/2025 0000909494 Tucows Inc. 898697206 96 Mowat Avenue Toronto A6 M6K 3M1 Rule 13d-1(b) Monega Kapitalanlagegesellschaft mbH b 2M 601155.00 0.00 601155.00 0.00 601155.00 N 5.4 FI OO Limited liability company Compound Interest b 2M 145100.00 0.00 145100.00 0.00 145100.00 N 1.3 FI OO Undertaking for collective investment Partners Fund b 2M 230000.00 0.00 230000.00 0.00 230000.00 N 2.1 FI OO Undertaking for collective investment Rubicon Stockpicker Fund b 2M 51050.00 0.00 51050.00 0.00 51050.00 N 0.5 FI OO Undertaking for collective investment Truffle b 2M 175005.00 0.00 175005.00 0.00 175005.00 N 1.6 FI OO Undertaking for collective investment Bernhard Funger b 2M 601155.00 0.00 601155.00 0.00 601155.00 N 5.4 HC IN Christian Finke b 2M 601155.00 0.00 601155.00 0.00 601155.00 N 5.4 HC IN Finn Thullen b 2M 601155.00 0.00 601155.00 0.00 601155.00 N 5.4 HC IN Tucows Inc. 96 Mowat Avenue, Toronto, A6 M6K 3M1 This Schedule 13G (this "Statement") is being filed by: (1) Monega Kapitalanlagegesellschaft mbH ("Monega"); (2) Compound Interest; (3) Partners Fund; (4) Rubicon Stockpickers Fund; (5) Truffle (together with Compound Interest, Partners Fund and Rubicon Stockpickers Fund, the "Funds"); (6) Bernhard Funger; (7) Christian Finke; and (8) Finn Thullen (all of the foregoing, collectively, the "Reporting Persons"). The Funds directly beneficially own the shares of Common Stock reported herein. Each of the Funds is an undertaking for collective investment. Monega is the manager of the Funds. Monega's management board consists of Bernhard Funger and Christian Finke. The portfolio manager for the Funds is Finn Thullen. Each Reporting Person disclaims beneficial ownership with respect to any Common Stock other than the Common Stock directly beneficially owned by such Reporting Person. The principal business office of the Reporting Persons is Stolkgasse 25-45, 50667 Koln, Germany. For citizenship or place of organization see Item 4 of the cover page of each Reporting Person. N HC FI Monega is a capital investment company. Each of the Funds is an undertaking for collective investment. Monega and each of the Funds is registered with Bundesanstalt fur Finanzdienstleistungsaufsicht (government authority) under Kapitalanlagegesetzbuch (KAGB) (regulatory scheme). See Item 9 on the cover page for each Reporting Person, and Item 2, which information is given as of the close of business on the Event Date of this Schedule 13G. See Item 11 on the cover page for each Reporting Person. The percentages of beneficial ownership contained herein are based on 11,032,586 shares of the Issuer's Common Stock outstanding as of March 10, 2025, as disclosed in the Issuer's Form 10-K filed with the Securities and Exchange Commission on March 13, 2025. See Item 5 on the cover page for each Reporting Person. See Item 6 on the cover page for each Reporting Person. See Item 7 on the cover page for each Reporting Person. See Item 8 on the cover page for each Reporting Person. Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to investment managers and investment companies is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D. Exhibit 1 - Joint Filing Agreement. Monega Kapitalanlagegesellschaft mbH /s/ Bernhard Funger 05/15/2025 /s/ Christian Finke 05/15/2025 Compound Interest /s/ Bernhard Funger 05/15/2025 /s/ Christian Finke 05/15/2025 Partners Fund /s/ Bernhard Funger 05/15/2025 /s/ Christian Finke 05/15/2025 Rubicon Stockpicker Fund /s/ Bernhard Funger 05/15/2025 /s/ Christian Finke 05/15/2025 Truffle /s/ Bernhard Funger 05/15/2025 /s/ Christian Finke 05/15/2025 Bernhard Funger /s/ Bernhard Funger 05/15/2025 Christian Finke Christian Finke 05/15/2025 Finn Thullen /s/ Finn Thullen 05/15/2025