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 55,009 668,640 SH   SOLE NONE 668,640 0 0
American Express Co COM 025816109 36,059 463,960 SH   SOLE NONE 463,960 0 0
AMETEK Inc COM 031100100 85,596 1,562,532 SH   SOLE NONE 1,562,532 0 0
Anheuser-Busch InBev ADR 03524A108 10,851 89,927 SH   SOLE NONE 89,927 0 0
Ansys Inc COM 03662Q105 43,047 471,803 SH   SOLE NONE 471,803 0 0
AON PLC CL A G0408V102 317,077 3,180,946 SH   SOLE NONE 3,180,946 0 0
Atlantic Tele-Network Inc COM 049079205 67,356 975,046 SH   SOLE NONE 975,046 0 0
AutoZone Inc. COM 053332102 61,402 92,071 SH   SOLE NONE 92,071 0 0
Bank of Hawaii Corp COM 062540109 36,694 550,300 SH   SOLE NONE 550,300 0 0
Bank of Montreal COM 063671101 107,857 1,817,827 SH   SOLE NONE 1,817,827 0 0
Bank of Nova Scotia COM 064149107 241,115 4,663,505 SH   SOLE NONE 4,663,505 0 0
Becton Dickinson and Co COM 075887109 160,388 1,131,846 SH   SOLE NONE 1,131,846 0 0
BHP Billiton PLC ADR 05545E209 29,232 738,923 SH   SOLE NONE 738,923 0 0
Blackrock Inc COM 09247X101 164,854 476,484 SH   SOLE NONE 476,484 0 0
Brookfield Asset Management Inc CL A 112585104 349,007 9,973,153 SH   SOLE NONE 9,973,153 0 0
Canadian National Railway Co COM 136375102 239,571 4,145,823 SH   SOLE NONE 4,145,823 0 0
Canadian Natural Resources Ltd COM 136385101 70,992 2,611,370 SH   SOLE NONE 2,611,370 0 0
Canadian Pacific Railway Ltd COM 13645T100 109,025 679,689 SH   SOLE NONE 679,689 0 0
Cenovus Energy Inc COM 15135U109 63,434 3,960,321 SH   SOLE NONE 3,960,321 0 0
Chevron Corp COM 166764100 69,493 720,027 SH   SOLE NONE 720,027 0 0
China Mobile Ltd ADR 16941M109 7,684 119,898 SH   SOLE NONE 119,898 0 0
Cinemark Holdings Inc. COM 17243V102 55,469 1,380,858 SH   SOLE NONE 1,380,858 0 0
CME Group Inc COM 12572Q105 35,080 376,964 SH   SOLE NONE 376,964 0 0
Colliers International Group SUB VTG SHS 194693107 24,772 646,469 SH   SOLE NONE 646,469 0 0
Comcast Corp CL A 20030N101 78,635 1,306,990 SH   SOLE NONE 1,306,990 0 0
Community Bank Systems Inc COM 203607106 2,077 55,000 SH   SOLE NONE 55,000 0 0
Computer Programs & Systems Inc COM 205306103 26,546 496,923 SH   SOLE NONE 496,923 0 0
Copart Inc COM 217204106 11,513 324,482 SH   SOLE NONE 324,482 0 0
Dentsply International Inc COM 249030107 22,257 431,757 SH   SOLE NONE 431,757 0 0
Descartes Systems Group Inc COM 249906108 66,075 4,110,825 SH   SOLE NONE 4,110,825 0 0
Diageo PLC ADR ADR 25243Q205 59,001 508,457 SH   SOLE NONE 508,457 0 0
Donaldson Co Inc COM 257651109 10,112 282,454 SH   SOLE NONE 282,454 0 0
E.I. du Pont de Nemours COM 263534109 24,052 376,103 SH   SOLE NONE 376,103 0 0
eBay Inc COM 278642103 51,554 855,815 SH   SOLE NONE 855,815 0 0
Enbridge Inc COM 29250N105 132,237 2,823,182 SH   SOLE NONE 2,823,182 0 0
Enerplus Corp COM 292766102 246 27,969 SH   SOLE NONE 27,969 0 0
Express Scripts Inc COM 30219G108 48,439 544,627 SH   SOLE NONE 544,627 0 0
Exxon Mobil Corp COM 30231G102 83,060 997,913 SH   SOLE NONE 997,913 0 0
Fair Isaac Corp COM 303250104 9,944 109,542 SH   SOLE NONE 109,542 0 0
Franklin Resources Inc. COM 354613101 16,655 339,681 SH   SOLE NONE 339,681 0 0
Gazit-Globe Ltd. (US Listed) SHS M4793C102 139,249 11,685,885 SH   SOLE NONE 11,685,885 0 0
General Electric Co COM 369604103 96,304 3,623,459 SH   SOLE NONE 3,623,459 0 0
Google Inc CL A 38259P508 51,456 95,241 SH   SOLE NONE 95,241 0 0
Google Inc CL C 38259P706 67,494 129,616 SH   SOLE NONE 129,616 0 0
Illinois Tool Works Inc COM 452308109 44,494 484,732 SH   SOLE NONE 484,732 0 0
Imperial Oil Ltd COM 453038408 75,699 1,956,428 SH   SOLE NONE 1,956,428 0 0
Innophos Holdings Inc. COM 45774N108 17,046 323,826 SH   SOLE NONE 323,826 0 0
Intuit Inc COM 461202103 58,723 582,229 SH   SOLE NONE 582,229 0 0
John Wiley & Sons Inc CL A 968223206 23,113 425,106 SH   SOLE NONE 425,106 0 0
Johnson & Johnson COM 478160104 101,333 1,039,275 SH   SOLE NONE 1,039,275 0 0
JPMorgan Chase & Co COM 46625H100 150,418 2,218,986 SH   SOLE NONE 2,218,986 0 0
LKQ Corp. COM 501889208 56,120 1,855,529 SH   SOLE NONE 1,855,529 0 0
Manulife Financial Corp COM 56501R106 187,276 10,061,920 SH   SOLE NONE 10,061,920 0 0
Markit Ltd. SHS G58249106 226,150 8,844,343 SH   SOLE NONE 8,844,343 0 0
Marsh & McLennan Cos Inc COM 571748102 59,926 1,056,894 SH   SOLE NONE 1,056,894 0 0
Mastercard Inc CL A 57636Q104 58,263 623,270 SH   SOLE NONE 623,270 0 0
McGraw-Hill Companies COM 580645109 74,883 745,476 SH   SOLE NONE 745,476 0 0
MEDNAX Inc COM 58502B106 37,731 509,124 SH   SOLE NONE 509,124 0 0
Monsanto Co COM 61166W101 5,615 52,680 SH   SOLE NONE 52,680 0 0
MSC Industrial Direct Co. CL A 553530106 19,378 277,738 SH   SOLE NONE 277,738 0 0
Newmarket Corp COM 651587107 13,216 29,773 SH   SOLE NONE 29,773 0 0
Novartis AG ADR 66987V109 209,634 2,131,730 SH   SOLE NONE 2,131,730 0 0
Oracle Corp COM 68389X105 107,027 2,654,588 SH   SOLE NONE 2,654,588 0 0
Patterson Cos Inc COM 703395103 15,061 309,573 SH   SOLE NONE 309,573 0 0
PepsiCo Inc/NC COM 713448108 88,903 951,972 SH   SOLE NONE 951,972 0 0
Potash Corp of Saskatchewan Inc COM 73755L107 129,688 4,181,148 SH   SOLE NONE 4,181,148 0 0
PRA Group Inc. COM 69354N106 15,354 246,412 SH   SOLE NONE 246,412 0 0
Praxair Inc COM 74005P104 80,958 676,882 SH   SOLE NONE 676,882 0 0
Procter & Gamble Co COM 742718109 82,254 1,050,782 SH   SOLE NONE 1,050,782 0 0
Rockwell Collins Inc. COM 774341101 20,540 222,412 SH   SOLE NONE 222,412 0 0
Rogers Communications Inc CL B 775109200 184,231 5,186,163 SH   SOLE NONE 5,186,163 0 0
Royal Bank of Canada COM 780087102 237,644 3,879,894 SH   SOLE NONE 3,879,894 0 0
RPM International Inc. COM 749685103 26,983 551,013 SH   SOLE NONE 551,013 0 0
Shaw Communications Inc CL B 82028K200 119,340 5,471,245 SH   SOLE NONE 5,471,245 0 0
Smith & Nephew PLC ADR 83175M205 27,251 802,673 SH   SOLE NONE 802,673 0 0
Solera Holdings Inc COM 83421A104 16,924 379,809 SH   SOLE NONE 379,809 0 0
Stantec Inc COM 85472N109 110,424 3,773,794 SH   SOLE NONE 3,773,794 0 0
Suncor Energy Inc COM 867224107 83,233 3,018,150 SH   SOLE NONE 3,018,150 0 0
SYNNEX Corp COM 87162W100 54,101 739,191 SH   SOLE NONE 739,191 0 0
T Rowe Price Group Inc COM 74144T108 21,220 272,990 SH   SOLE NONE 272,990 0 0
TELUS Corp COM 87971M103 193,676 5,612,753 SH   SOLE NONE 5,612,753 0 0
The Priceline Group, Inc. COM 741503403 13,010 11,300 SH   SOLE NONE 11,300 0 0
Thomson Reuters Corp COM 884903105 80,704 2,116,035 SH   SOLE NONE 2,116,035 0 0
Time Warner Cable COM 88732J207 38,679 217,092 SH   SOLE NONE 217,092 0 0
Toronto-Dominion Bank COM 891160509 282,471 6,640,880 SH   SOLE NONE 6,640,880 0 0
UFP Technologies Inc COM 902673102 2,940 140,551 SH   SOLE NONE 140,551 0 0
Unilever PLC ADR 904767704 105,296 2,451,019 SH   SOLE NONE 2,451,019 0 0
United Technologies Corporation COM 913017109 127,074 1,145,130 SH   SOLE NONE 1,145,130 0 0
Valeant Pharmaceuticals International Inc COM 91911K102 168,425 758,038 SH   SOLE NONE 758,038 0 0
Verizon Communications Inc COM 92343V104 106,623 2,286,860 SH   SOLE NONE 2,286,860 0 0
Visa Inc CL A 92826C839 63,222 940,727 SH   SOLE NONE 940,727 0 0
W.W. Grainger, Inc. COM 384802104 32,490 137,290 SH   SOLE NONE 137,290 0 0
Walgreens Boots Alliance Inc COM 931427108 19,277 227,858 SH   SOLE NONE 227,858 0 0
Wells Fargo & Co COM 949746101 182,723 3,247,993 SH   SOLE NONE 3,247,993 0 0
WEX Inc. COM 96208T104 39,822 349,412 SH   SOLE NONE 349,412 0 0
Whirlpool Corp. COM 963320106 53,090 306,652 SH   SOLE NONE 306,652 0 0
World Fuel Services Corp COM 981475106 57,756 1,204,505 SH   SOLE NONE 1,204,505 0 0
WPP PLC ADR 92937A102 8,195 72,701 SH   SOLE NONE 72,701 0 0