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
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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
ISHARES TR MSCI EAFE ETF 464287465   1,837,033 24,380 SH   SOLE   24,380 0 0
JAPAN SMALLER CAPITALIZATION COM 47109U104   96,393 12,700 SH   SOLE   12,700 0 0
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363   4,629,643 10,599 SH   SOLE   10,599 0 0
CAMECO CORP COM 13321L108   39,928,064 924,363 SH   SOLE   388,863 0 535,500
CANADIAN NAT RES LTD COM 136385101   49,426,894 753,047 SH   SOLE   284,047 0 469,000
ENBRIDGE INC COM 29250N105   646,290 17,920 SH   SOLE   17,920 0 0
IMPERIAL OIL LTD COM NEW 453038408   15,414,447 270,100 SH   SOLE   112,100 0 158,000
NORTH AMERN CONSTR GROUP LTD COM 656811106   8,428,148 403,149 SH   SOLE   347,991 0 55,158
NEXGEN ENERGY LTD COM 65340P106   1,743,700 248,783 SH   SOLE   139,846 0 108,937
PEMBINA PIPELINE CORP COM 706327103   17,284,964 501,120 SH   SOLE   171,120 0 330,000
TC ENERGY CORP COM 87807B107   5,840,904 149,250 SH   SOLE   149,250 0 0
MARATHON PETE CORP COM 56585A102   1,493,540 10,067 SH   SOLE   10,067 0 0
PHILLIPS 66 COM 718546104   549,202 4,125 SH   SOLE   4,125 0 0
SHELL PLC SPON ADS 780259305   376,376 5,720 SH   SOLE   5,720 0 0
TEEKAY TANKERS LTD CL A Y8565N300   295,322 5,910 SH   SOLE   5,910 0 0
AGNICO EAGLE MINES LTD COM 008474108   21,123,759 384,560 SH   SOLE   82,060 0 302,500
ALAMOS GOLD INC NEW COM CL A 011532108   29,102,110 2,159,958 SH   SOLE   1,009,958 0 1,150,000
ELDORADO GOLD CORP NEW COM 284902509   18,547,779 1,426,238 SH   SOLE   350,745 0 1,075,493
GALIANO GOLD INC COM 36352H100   15,809 17,000 SH   SOLE   17,000 0 0
KINROSS GOLD CORP COM 496902404   29,626,884 4,885,850 SH   SOLE   2,352,850 0 2,533,000
ORLA MNG LTD NEW COM 68634K106   1,458,873 446,645 SH   SOLE   249,572 0 197,073
OSISKO GOLD ROYALTIES LTD COM 68827L101   2,445,103 171,015 SH   SOLE   99,416 0 71,599
SILVERCREST METALS INC COM 828363101   1,440,387 219,224 SH   SOLE   121,599 0 97,625
TECK RESOURCES LTD CL B 878742204   25,895,498 611,487 SH   SOLE   251,487 0 360,000
TRIPLE FLAG PRECIOUS METAL COM 89679M104   940,444 70,512 SH   SOLE   39,048 0 31,464
WHEATON PRECIOUS METALS CORP COM 962879102   2,103,543 42,560 SH   SOLE   42,560 0 0
CF INDS HLDGS INC COM 125269100   293,752 3,695 SH   SOLE   3,695 0 0
CEMEX SAB DE CV SPON ADR NEW 151290889   237,537 30,650 SH   SOLE   30,650 0 0
ECOLAB INC COM 278865100   500,833 2,525 SH   SOLE   2,525 0 0
MARTIN MARIETTA MATLS INC COM 573284106   3,166,082 6,346 SH   SOLE   6,346 0 0
ATS CORPORATION COM 00217Y104   15,292,880 354,165 SH   SOLE   97,494 0 256,671
CANADIAN PACIFIC KANSAS CITY COM 13646K108   35,864,062 452,440 SH   SOLE   98,440 0 354,000
RB GLOBAL INC COM 74935Q107   12,947,053 193,118 SH   SOLE   59,118 0 134,000
STANTEC INC COM 85472N109   34,469,742 428,555 SH   SOLE   220,555 0 208,000
THOMSON REUTERS CORP. COM 884903808   24,655,093 168,321 SH   SOLE   59,821 0 108,500
WASTE CONNECTIONS INC COM 94106B101   26,158,955 174,864 SH   SOLE   45,164 0 129,700
AXON ENTERPRISE INC COM 05464C101   2,439,668 9,444 SH   SOLE   9,444 0 0
BOOZ ALLEN HAMILTON HLDG COR CL A 099502106   856,997 6,700 SH   SOLE   6,700 0 0
CINTAS CORP COM 172908105   682,211 1,132 SH   SOLE   1,132 0 0
EATON CORP PLC SHS G29183103   4,093,940 17,000 SH   SOLE   17,000 0 0
GRAINGER W W INC COM 384802104   559,365 675 SH   SOLE   675 0 0
HUBBELL INC COM 443510607   5,426,358 16,497 SH   SOLE   16,497 0 0
NVENT ELECTRIC PLC SHS G6700G107   2,115,717 35,805 SH   SOLE   35,805 0 0
RELX PLC SPONSORED ADR 759530108   1,683,963 42,460 SH   SOLE   42,460 0 0
REPUBLIC SVCS INC COM 760759100   2,246,074 13,620 SH   SOLE   13,620 0 0
TRANSDIGM GROUP INC COM 893641100   1,062,180 1,050 SH   SOLE   1,050 0 0
ENCORE WIRE CORP COM 292562105   418,656 1,960 SH   SOLE   1,960 0 0
WATTS WATER TECHNOLOGIES INC CL A 942749102   1,576,092 7,565 SH   SOLE   7,565 0 0
BRP INC COM SUN VTG 05577W200   1,017,239 14,189 SH   SOLE   7,928 0 6,261
MAGNA INTL INC COM 559222401   207,179 3,500 SH   SOLE   3,500 0 0
RESTAURANT BRANDS INTL INC COM 76131D103   18,810,898 240,310 SH   SOLE   52,310 0 188,000
AMAZON COM INC COM 023135106   2,792,657 18,380 SH   SOLE   18,380 0 0
AUTOZONE INC COM 053332102   1,553,951 601 SH   SOLE   601 0 0
GREEN BRICK PARTNERS INC COM 392709101   3,281,828 63,185 SH   SOLE   63,185 0 0
MCDONALDS CORP COM 580135101   222,975 752 SH   SOLE   752 0 0
MERCADOLIBRE INC COM 58733R102   2,413,885 1,536 SH   SOLE   1,536 0 0
MURPHY USA INC COM 626755102   1,807,759 5,070 SH   SOLE   5,070 0 0
PDD HOLDINGS INC SPONSORED ADS 722304102   1,812,927 12,391 SH   SOLE   12,391 0 0
FERRARI N V COM N3167Y103   6,884,004 20,341 SH   SOLE   20,341 0 0
TJX COS INC NEW COM 872540109   3,788,329 40,383 SH   SOLE   40,383 0 0
WINMARK CORP COM 974250102   3,742,500 8,963 SH   SOLE   8,963 0 0
BELLRING BRANDS INC COMMON STOCK 07831C103   459,514 8,290 SH   SOLE   8,290 0 0
COSTCO WHSL CORP NEW COM 22160K105   2,347,904 3,557 SH   SOLE   3,557 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106   5,871,615 45,045 SH   SOLE   45,045 0 0
CARDINAL HEALTH INC COM 14149Y108   908,208 9,010 SH   SOLE   9,010 0 0
CENCORA INC COM 03073E105   4,623,103 22,510 SH   SOLE   22,510 0 0
ELI LILLY & CO COM 532457108   7,651,990 13,127 SH   SOLE   13,127 0 0
MCKESSON CORP COM 58155Q103   5,128,429 11,077 SH   SOLE   11,077 0 0
NOVO-NORDISK A S ADR 670100205   6,855,424 66,268 SH   SOLE   66,268 0 0
NOVARTIS AG SPONSORED ADR 66987V109   2,979,119 29,505 SH   SOLE   29,505 0 0
VIEMED HEALTHCARE INC COM 92663R105   753,286 95,960 SH   SOLE   50,372 0 45,588
VERTEX PHARMACEUTICALS INC COM 92532F100   5,210,226 12,805 SH   SOLE   12,805 0 0
BROOKFIELD ASSET MANAGMT LTD CL A LMT VTG SHS 113004105   25,448,181 632,427 SH   SOLE   239,427 0 393,000
BANK MONTREAL QUE COM 063671101   48,219,157 486,421 SH   SOLE   173,921 0 312,500
BROOKFIELD CORP CL A LTD VT SH 11271J107   31,716,155 789,234 SH   SOLE   261,234 0 528,000
BANK NOVA SCOTIA HALIFAX COM 064149107   5,832,212 119,592 SH   SOLE   119,592 0 0
CANADIAN IMPERIAL BK COMM TO COM 136069101   35,234,473 730,425 SH   SOLE   273,425 0 457,000
MANULIFE FINL CORP COM 56501R106   985,150 44,500 SH   SOLE   44,500 0 0
ROYAL BK CDA COM 780087102   99,784,813 984,891 SH   SOLE   388,772 0 596,119
SUN LIFE FINANCIAL INC. COM 866796105   35,204,841 677,560 SH   SOLE   333,560 0 344,000
TORONTO DOMINION BK ONT COM NEW 891160509   83,549,156 1,290,611 SH   SOLE   484,611 0 806,000
AFLAC INC COM 001055102   3,369,712 40,845 SH   SOLE   40,845 0 0
GALLAGHER ARTHUR J & CO COM 363576109   5,196,302 23,107 SH   SOLE   23,107 0 0
ARES MANAGEMENT CORPORATION CL A COM STK 03990B101   7,961,694 66,950 SH   SOLE   66,950 0 0
CBOE GLOBAL MKTS INC COM 12503M108   4,029,920 22,569 SH   SOLE   22,569 0 0
MR COOPER GROUP INC COM 62482R107   1,353,844 20,790 SH   SOLE   20,790 0 0
HOULIHAN LOKEY INC CL A 441593100   229,987 1,918 SH   SOLE   1,918 0 0
JPMORGAN CHASE & CO COM 46625H100   3,962,989 23,298 SH   SOLE   23,298 0 0
KINSALE CAP GROUP INC COM 49714P108   493,322 1,473 SH   SOLE   1,473 0 0
MASTERCARD INCORPORATED CL A 57636Q104   411,155 964 SH   SOLE   964 0 0
MARSH & MCLENNAN COS INC COM 571748102   5,517,555 29,121 SH   SOLE   29,121 0 0
REINSURANCE GRP OF AMERICA I COM NEW 759351604   501,518 3,100 SH   SOLE   3,100 0 0
UNUM GROUP COM 91529Y106   343,672 7,600 SH   SOLE   7,600 0 0
VISA INC COM CL A 92826C839   4,011,733 15,409 SH   SOLE   15,409 0 0
DOCEBO INC COM 25609L105   3,183,679 65,803 SH   SOLE   38,525 0 27,278
DESCARTES SYS GROUP INC COM 249906108   11,759,599 139,704 SH   SOLE   29,704 0 110,000
CGI INC CL A SUB VTG 12532H104   5,389,935 50,220 SH   SOLE   50,220 0 0
LIGHTSPEED COMMERCE INC SUB VTG SHS 53229C107   1,652,793 78,576 SH   SOLE   43,903 0 34,673
OPEN TEXT CORP COM 683715106   18,718,425 444,550 SH   SOLE   114,550 0 330,000
SHOPIFY INC CL A 82509L107   70,308,851 901,420 SH   SOLE   363,420 0 538,000
APPLE INC COM 037833100   789,373 4,100 SH   SOLE   4,100 0 0
ARISTA NETWORKS INC COM 040413106   7,248,997 30,780 SH   SOLE   30,780 0 0
ASML HOLDING N V N Y REGISTRY SHS N07059210   1,915,007 2,530 SH   SOLE   2,530 0 0
BROADCOM INC COM 11135F101   1,588,423 1,423 SH   SOLE   1,423 0 0
BADGER METER INC COM 056525108   1,918,047 12,425 SH   SOLE   12,425 0 0
CROWDSTRIKE HLDGS INC CL A 22788C105   4,538,568 17,776 SH   SOLE   17,776 0 0
INTUIT COM 461202103   752,536 1,204 SH   SOLE   1,204 0 0
GARTNER INC COM 366651107   2,657,940 5,892 SH   SOLE   5,892 0 0
KLA CORP COM NEW 482480100   1,947,936 3,351 SH   SOLE   3,351 0 0
MICROSOFT CORP COM 594918104   6,220,077 16,541 SH   SOLE   16,541 0 0
MOTOROLA SOLUTIONS INC COM NEW 620076307   1,858,189 5,935 SH   SOLE   5,935 0 0
NVIDIA CORPORATION COM 67066G104   6,838,988 13,810 SH   SOLE   13,810 0 0
PALO ALTO NETWORKS INC COM 697435105   2,878,028 9,760 SH   SOLE   9,760 0 0
ROPER TECHNOLOGIES INC COM 776696106   4,246,329 7,789 SH   SOLE   7,789 0 0
SUPER MICRO COMPUTER INC COM 86800U104   3,186,554 11,210 SH   SOLE   11,210 0 0
SYNOPSYS INC COM 871607107   3,224,366 6,262 SH   SOLE   6,262 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100   375,752 3,613 SH   SOLE   3,613 0 0
ROGERS COMMUNICATIONS INC CL B 775109200   26,641,570 568,050 SH   SOLE   186,050 0 382,000
TELUS CORPORATION COM 87971M103   14,050,246 788,077 SH   SOLE   196,077 0 592,000
ALPHABET INC CAP STK CL A 02079K305   3,943,309 28,229 SH   SOLE   28,229 0 0
AT&T INC COM 00206R102   1,385,524 82,570 SH   SOLE   82,570 0 0
BROOKFIELD INFRAST PARTNERS LP INT UNIT G16252101   12,322,136 390,260 SH   SOLE   83,260 0 307,000
FORTIS INC COM 349553107   3,232,394 78,429 SH   SOLE   78,429 0 0
TRANSALTA CORP COM 89346D107   1,549,465 185,964 SH   SOLE   108,645 0 77,319
CONSTELLATION ENERGY CORP COM 21037T109   470,482 4,025 SH   SOLE   4,025 0 0
FIRSTSERVICE CORP NEW COM 33767E202   28,359,247 174,740 SH   SOLE   63,740 0 111,000
EQUINIX INC COM 29444U700   1,729,172 2,147 SH   SOLE   2,147 0 0
IRON MTN INC DEL COM 46284V101   258,926 3,700 SH   SOLE   3,700 0 0
NU HLDGS LTD ORD SHS CL A G6683N103   1,661,560 199,467 SH   SOLE   199,467 0 0