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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Alibaba Group Holding Ltd ADR 01609W102 40,975 694,850 SH   SOLE NONE 694,850 0 0
American Express Co COM 025816109 37,136 500,960 SH   SOLE NONE 500,960 0 0
AMETEK Inc COM 031100100 85,898 1,641,772 SH   SOLE NONE 1,641,772 0 0
Anheuser-Busch InBev ADR ADR 03524A108 8,695 81,780 SH   SOLE NONE 81,780 0 0
Ansys Inc COM 03662Q105 42,894 486,663 SH   SOLE NONE 486,663 0 0
AON PLC CL A G0408V102 317,743 3,585,857 SH   SOLE NONE 3,585,857 0 0
Atlantic Tele-Network Inc COM 049079205 72,151 975,939 SH   SOLE NONE 975,939 0 0
AutoZone Inc. COM 053332102 61,230 84,591 SH   SOLE NONE 84,591 0 0
Bank of Hawaii Corp COM 062540109 34,272 539,800 SH   SOLE NONE 539,800 0 0
Bank of Montreal COM 063671101 113,988 2,081,950 SH   SOLE NONE 2,081,950 0 0
Bank of Nova Scotia COM 064149107 191,358 4,323,891 SH   SOLE NONE 4,323,891 0 0
Baxter International Inc COM 071813109 23,980 729,980 SH   SOLE NONE 729,980 0 0
Becton Dickinson and Co COM 075887109 160,903 1,212,961 SH   SOLE NONE 1,212,961 0 0
BHP Billiton PLC ADR 05545E209 2,138 69,695 SH   SOLE NONE 69,695 0 0
Blackrock Inc COM 09247X101 151,495 509,279 SH   SOLE NONE 509,279 0 0
Brookfield Asset Management Inc CL A 112585104 319,608 10,117,754 SH   SOLE NONE 10,117,754 0 0
Canadian National Railway Co COM 136375102 235,702 4,134,585 SH   SOLE NONE 4,134,585 0 0
Canadian Natural Resources Ltd COM 136385101 54,755 2,801,633 SH   SOLE NONE 2,801,633 0 0
Canadian Pacific Railway Ltd COM 13645T100 96,012 666,131 SH   SOLE NONE 666,131 0 0
Canadian Pacific Railway Ltd COM 13645T100 3,490 24,436 SH   SOLE NONE 24,436 0 0
Cenovus Energy Inc COM 15135U109 64,001 4,204,337 SH   SOLE NONE 4,204,337 0 0
Chevron Corp COM 166764100 56,725 719,173 SH   SOLE NONE 719,173 0 0
China Mobile Ltd ADR 16941M109 6,811 114,467 SH   SOLE NONE 114,467 0 0
Cinemark Holdings Inc. COM 17243V102 44,879 1,381,308 SH   SOLE NONE 1,381,308 0 0
CME Group Inc COM 12572Q105 34,970 377,074 SH   SOLE NONE 377,074 0 0
Colliers International Group SUB VTG SHS 194693107 23,382 573,289 SH   SOLE NONE 573,289 0 0
Comcast Corp CL A 20030N101 85,148 1,497,077 SH   SOLE NONE 1,497,077 0 0
Copart Inc COM 217204106 10,703 325,312 SH   SOLE NONE 325,312 0 0
Crescent Point Energy Corp COM 22576C101 876 76,227 SH   SOLE NONE 76,227 0 0
Dentsply International Inc COM 249030107 16,878 333,757 SH   SOLE NONE 333,757 0 0
Descartes Systems Group Inc COM 249906108 60,710 3,412,790 SH   SOLE NONE 3,412,790 0 0
Diageo PLC ADR 25243Q205 57,787 536,105 SH   SOLE NONE 536,105 0 0
Donaldson Co Inc COM 257651109 7,952 283,174 SH   SOLE NONE 283,174 0 0
E.I. du Pont de Nemours COM 263534109 17,875 370,848 SH   SOLE NONE 370,848 0 0
eBay Inc COM 278642103 20,949 857,145 SH   SOLE NONE 857,145 0 0
Enbridge Inc COM 29250N105 105,932 2,841,862 SH   SOLE NONE 2,841,862 0 0
Express Scripts Inc COM 30219G108 57,327 708,133 SH   SOLE NONE 708,133 0 0
Exxon Mobil Corp COM 30231G102 77,632 1,044,196 SH   SOLE NONE 1,044,196 0 0
FirstService Corp SUB VTG SH 33767E103 18,590 572,789 SH   SOLE NONE 572,789 0 0
Franklin Resources Inc. COM 354613101 15,138 406,291 SH   SOLE NONE 406,291 0 0
Gazit-Globe Ltd. (US Listed) SHS M4793C102 120,284 11,982,281 SH   SOLE NONE 11,982,281 0 0
General Electric Co COM 369604103 43,332 1,718,170 SH   SOLE NONE 1,718,170 0 0
Google Inc CL A 38259P508 47,226 73,985 SH   SOLE NONE 73,985 0 0
Illinois Tool Works Inc COM 452308109 33,133 402,537 SH   SOLE NONE 402,537 0 0
Imperial Oil Ltd COM 453038408 64,809 2,037,624 SH   SOLE NONE 2,037,624 0 0
Innophos Holdings Inc. COM 45774N108 12,836 323,826 SH   SOLE NONE 323,826 0 0
International Flavors & Fragrances COM 459506101 17,264 167,190 SH   SOLE NONE 167,190 0 0
Intuit Inc COM 461202103 50,670 571,000 SH   SOLE NONE 571,000 0 0
John Wiley & Sons Inc CL A 968223206 24,190 483,506 SH   SOLE NONE 483,506 0 0
Johnson & Johnson COM 478160104 100,265 1,074,136 SH   SOLE NONE 1,074,136 0 0
JPMorgan Chase & Co COM 46625H100 140,872 2,310,634 SH   SOLE NONE 2,310,634 0 0
LKQ Corp. COM 501889208 79,860 2,816,103 SH   SOLE NONE 2,816,103 0 0
Manulife Financial Corp COM 56501R106 159,942 10,300,943 SH   SOLE NONE 10,300,943 0 0
Markit Ltd. SHS G58249106 274,118 9,452,347 SH   SOLE NONE 9,452,347 0 0
Marsh & McLennan Cos Inc COM 571748102 55,273 1,058,464 SH   SOLE NONE 1,058,464 0 0
Mastercard Inc COM 57636Q104 56,181 623,400 SH   SOLE NONE 623,400 0 0
McGraw-Hill Companies COM 580645109 66,690 770,986 SH   SOLE NONE 770,986 0 0
MEDNAX Inc COM 58502B106 37,421 487,320 SH   SOLE NONE 487,320 0 0
Monsanto Co COM 61166W101 4,496 52,680 SH   SOLE NONE 52,680 0 0
MSC Industrial Direct Co. CL A 553530106 26,673 437,055 SH   SOLE NONE 437,055 0 0
Newmarket Corp COM 651587107 10,629 29,773 SH   SOLE NONE 29,773 0 0
Novartis AG ADR 66987V109 230,721 2,510,016 SH   SOLE NONE 2,510,016 0 0
Oracle Corp COM 68389X105 98,361 2,723,338 SH   SOLE NONE 2,723,338 0 0
PepsiCo Inc/NC COM 713448108 81,247 861,653 SH   SOLE NONE 861,653 0 0
Potash Corp of Saskatchewan Inc COM 73755L107 94,096 4,559,945 SH   SOLE NONE 4,559,945 0 0
PPG Industries Inc COM 693506107 28,231 321,945 SH   SOLE NONE 321,945 0 0
PRA Group Inc. COM 69354N106 13,080 247,162 SH   SOLE NONE 247,162 0 0
Praxair Inc COM 74005P104 73,815 724,714 SH   SOLE NONE 724,714 0 0
Procter & Gamble Co COM 742718109 71,845 998,751 SH   SOLE NONE 998,751 0 0
QUALCOMM Inc COM 747525103 28,686 533,891 SH   SOLE NONE 533,891 0 0
Rockwell Collins Inc. COM 774341101 18,247 222,962 SH   SOLE NONE 222,962 0 0
Rogers Communications Inc CL B 775109200 185,434 5,360,765 SH   SOLE NONE 5,360,765 0 0
Royal Bank of Canada COM 780087102 216,569 3,901,422 SH   SOLE NONE 3,901,422 0 0
RPM International Inc. COM 749685103 23,027 549,703 SH   SOLE NONE 549,703 0 0
Shaw Communications Inc CL B 82028K200 111,648 5,743,592 SH   SOLE NONE 5,743,592 0 0
Smith & Nephew PLC ADR 83175M205 30,908 883,075 SH   SOLE NONE 883,075 0 0
Solera Holdings Inc COM 83421A104 18,272 338,379 SH   SOLE NONE 338,379 0 0
Stantec Inc COM 85472N109 78,396 3,567,829 SH   SOLE NONE 3,567,829 0 0
Suncor Energy Inc COM 867224107 82,001 3,053,279 SH   SOLE NONE 3,053,279 0 0
SYNNEX Corp COM 87162W100 42,374 498,171 SH   SOLE NONE 498,171 0 0
T Rowe Price Group Inc COM 74144T108 19,012 273,560 SH   SOLE NONE 273,560 0 0
TELUS Corp COM 87971M103 178,479 5,642,129 SH   SOLE NONE 5,642,129 0 0
The Priceline Group, Inc. COM 741503403 15,436 12,480 SH   SOLE NONE 12,480 0 0
Thomson Reuters Corp COM 884903105 91,172 2,259,369 SH   SOLE NONE 2,259,369 0 0
Time Warner Cable COM 88732J207 38,558 214,962 SH   SOLE NONE 214,962 0 0
Toronto-Dominion Bank COM 891160509 264,643 6,687,928 SH   SOLE NONE 6,687,928 0 0
Unilever PLC ADR 904767704 104,785 2,569,524 SH   SOLE NONE 2,569,524 0 0
Union Pacific Corp COM 907818108 18,534 209,640 SH   SOLE NONE 209,640 0 0
United Technologies Corporation COM 913017109 102,291 1,149,521 SH   SOLE NONE 1,149,521 0 0
Valeant Pharmaceuticals International Inc COM 91911K102 132,242 737,989 SH   SOLE NONE 737,989 0 0
Verizon Communications Inc COM 92343V104 110,045 2,529,285 SH   SOLE NONE 2,529,285 0 0
Visa Inc CL A 92826C839 86,980 1,248,741 SH   SOLE NONE 1,248,741 0 0
W.W. Grainger, Inc. COM 384802104 34,285 159,460 SH   SOLE NONE 159,460 0 0
Wells Fargo & Co COM 949746101 178,720 3,480,568 SH   SOLE NONE 3,480,568 0 0
WEX Inc. COM 96208T104 29,466 339,312 SH   SOLE NONE 339,312 0 0
Whirlpool Corp. COM 963320106 45,079 306,139 SH   SOLE NONE 306,139 0 0
World Fuel Services Corp COM 981475106 41,683 1,164,319 SH   SOLE NONE 1,164,319 0 0
WPP PLC ADR 92937A102 7,318 70,343 SH   SOLE NONE 70,343 0 0
AON PLC CL A G0408V102 1,037 11,700 SH   OTR 1 0 11,700 0
Brookfield Asset Management Inc CL A COM 112585104 478 15,121 SH   OTR 1 0 15,121 0
General Electric Co COM 369604103 518 20,550 SH   OTR 1 0 20,550 0
Markit Ltd. COM G58249106 815 28,100 SH   OTR 1 0 28,100 0
Rogers Communications Inc CL B 775109200 362 10,473 SH   OTR 1 0 10,473 0
Verizon Communications Inc COM 92343V104 701 16,100 SH   OTR 1 0 16,100 0
Wells Fargo & Co COM 949746101 1,063 20,700 SH   OTR 1 0 20,700 0