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   7,291,694 145,900 SH   SOLE   145,900 0 0
BROOKFIELD BUSINESS PARTNERS UNIT LTD L P G16234109   10,319,640 597,952 SH   SOLE   597,952 0 0
BROOKFIELD CORP CL A LTD VT SH 11271J107   4,778,300 142,000 SH   SOLE   142,000 0 0
CANADIAN IMPERIAL BK COMM TO PUT 136069951   461,669 7,500 SH   SOLE   7,500 0 0
CANADIAN NAT RES LTD COM 136385101   24,958,599 443,500 SH   SOLE   443,500 0 0
CANADIAN NATL RY CO COM 136375102   2,362,387 19,500 SH   SOLE   19,500 0 0
CANADIAN PACIFIC KANSAS CITY COM 13646K108   9,679,912 119,800 SH   SOLE   119,800 0 0
CASELLA WASTE SYS INC CL A 147448104   9,948,323 110,060 SH   SOLE   110,060 0 0
CBOE GLOBAL MKTS INC COM 12503M108   4,347,238 31,520 SH   SOLE   31,520 0 0
CELESTICA INC CALL 15101Q908   237,915 2,250 SH   SOLE   2,250 0 0
CHUBB LIMITED COM H1467J104   2,136,972 11,100 SH   SOLE   11,100 0 0
CME GROUP INC COM 12572Q105   5,700,510 30,767 SH   SOLE   30,767 0 0
COLLIERS INTL GROUP INC SUB VTG SHS 194693107   843,826 8,600 SH   SOLE   8,600 0 0
ENCORE WIRE CORP COM 292562105   12,070,120 64,942 SH   SOLE   64,942 0 0
EXPEDIA GROUP INC COM NEW 30212P303   6,868,436 62,800 SH   SOLE   62,800 0 0
FREEPORT-MCMORAN INC CL B 35671D857   4,718,820 118,000 SH   SOLE   118,000 0 0
GFL ENVIRONMENTAL INC SUB VTG SHS 36168Q104   13,320,732 342,992 SH   SOLE   342,992 0 0
GRANITE REAL ESTATE INVT TR UNIT 99/99/9999 387437114   2,331,563 39,400 SH   SOLE   39,400 0 0
HELIX ENERGY SOLUTIONS GRP I COM 42330P107   3,653,100 495,000 SH   SOLE   495,000 0 0
INSTALLED BLDG PRODS INC CALL 45780R901   346,020 219 SH   SOLE   219 0 0
INSTALLED BLDG PRODS INC COM 45780R101   2,510,693 17,922 SH   SOLE   17,922 0 0
INTEL CORP COM 458140100   7,002,736 209,600 SH   SOLE   209,600 0 0
INVESCO QQQ TR PUT 46090E953   474,000 1,500 SH   SOLE   1,500 0 0
ISHARES TR PUT 464287955   842,250 4,750 SH   SOLE   4,750 0 0
ISHARES TR PUT 46435G954   370,000 10,000 SH   SOLE   10,000 0 0
LAS VEGAS SANDS CORP COM 517834107   9,096,778 156,841 SH   SOLE   156,841 0 0
MASTERCARD INCORPORATED CL A 57636Q104   648,401 1,650 SH   SOLE   1,650 0 0
MSCI INC COM 55354G100   6,095,947 12,990 SH   SOLE   12,990 0 0
MURPHY OIL CORP COM 626717102   13,087,110 341,700 SH   SOLE   341,700 0 0
MYR GROUP INC DEL COM 55405W104   5,631,252 40,700 SH   SOLE   40,700 0 0
QUANTA SVCS INC COM 74762E102   6,306,136 32,107 SH   SOLE   32,107 0 0
RB GLOBAL INC COM 74935Q107   3,598,800 60,000 SH   SOLE   60,000 0 0
ROYAL BK CDA PUT 780087952   521,998 2,375 SH   SOLE   2,375 0 0
S&P GLOBAL INC COM 78409V104   2,385,296 5,950 SH   SOLE   5,950 0 0
SPDR S&P 500 ETF TR PUT 78462F953   1,021,752 5,256 SH   SOLE   5,256 0 0
TRIPLE FLAG PRECIOUS METAL COM 89679M104   4,780,176 346,602 SH   SOLE   346,602 0 0
VISA INC COM CL A 92826C839   5,545,927 23,368 SH   SOLE   23,368 0 0
XPEL INC COM 98379L100   2,512,612 29,841 SH   SOLE   29,841 0 0