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   42,521,331 818,855 SH   OTR 1 680,744 9,435 128,676
ALPHABET INC CLASS A CAP STK CL A 02079K305   370,566 4,200 SH   SOLE None 4,200 0 0
ALPHABET INC CLASS C CAP STK CL C 02079K107   931,842 10,502 SH   SOLE None 10,502 0 0
APPLE INC. COM 037833100   2,437,487 18,760 SH   SOLE None 18,760 0 0
AXS SHORT INNOVATION ETF AXS SHORT INNOV 46144X628   190,785 3,500 SH   SOLE None 3,500 0 0
BANK OF NOVA SCOTIA COM 064149107   30,925,229 631,631 SH   OTR 1 531,676 7,379 92,576
BERKSHIRE HATHAWAY INC. - CL B CL B NEW 084670702   1,522,259 4,928 SH   SOLE None 4,928 0 0
CAE INC COM 124765108   29,772,564 1,540,305 SH   OTR 1 1,290,650 17,772 231,883
CANADIAN IMPERIAL BANK OF COMMERCE COM 136069101   33,500,137 828,762 SH   OTR 1 692,540 9,318 126,904
CANADIAN NATIONAL RAILWAY CO COM 136375102   261,150 2,200 SH   SOLE None 2,200 0 0
CANADIAN NATURAL RESOURCES LTD COM 136385101   23,408,003 421,823 SH   OTR 1 351,593 4,806 65,424
CANADIAN PACIFIC RAILWAY LTD COM 13645T100   51,303,617 688,601 SH   OTR 1 575,375 7,915 105,311
CENOVUS ENERGY INC COM 15135U109   35,405,620 1,826,157 SH   OTR 1 1,521,710 20,813 283,634
CENOVUS ENERGY INC - WARRANT *W EXP 01/01/202 15135U117   230,927 15,875 SH   SOLE None 15,875 0 0
CGI INC CL A SUB VTG 12532H104   37,589,266 436,397 SH   OTR 1 363,543 4,972 67,882
CISCO SYSTEMS INC COM 17275R102   867,810 18,216 SH   SOLE None 18,216 0 0
COLGATE PALMOLIVE CO COM 194162103   94,548 1,200 SH   SOLE None 1,200 0 0
DIAGEO PLC - SPONSORED ADR SPONSORED ADR 25243Q205   160,371 900 SH   SOLE None 900 0 0
DISNEY COMPANY COM 254687106   1,234,391 14,208 SH   SOLE None 14,208 0 0
ENBRIDGE INC COM 29250N105   24,638,159 630,833 SH   OTR 1 525,860 7,193 97,780
ESTEE LAUDER COMPANIES INC. CL A 518439104   806,358 3,250 SH   SOLE None 3,250 0 0
GENERAC HOLDINGS INC COM 368736104   4,935,158 49,028 SH   SOLE None 49,028 0 0
GENERAL MOTORS CO COM 37045V100   1,197,584 35,600 SH   SOLE None 35,600 0 0
HENRY SCHEIN INC. COM 806407102   3,272,753 40,976 SH   SOLE None 40,976 0 0
HUDBAY MINERALS INC COM 443628102   2,221,680 440,100 SH   SOLE None 440,100 0 0
ING GROEP NV - ADR SPONSORED ADR 456837103   1,071,349 88,032 SH   SOLE None 88,032 0 0
INTEL CORP COM 458140100   994,059 37,611 SH   SOLE None 37,611 0 0
ISHARES IBOXX HIGH YIELD CORPORATE BOND ETF IBOXX HI YD ETF 464288513   147,334 2,001 SH   SOLE None 2,001 0 0
JPMORGAN CHASE & CO COM 46625H100   1,168,011 8,710 SH   SOLE None 8,710 0 0
MANULIFE FINANCIAL CORP COM 56501R106   45,848,353 2,572,365 SH   OTR 1 2,143,755 29,310 399,300
MEDTRONIC PLC SHS G5960L103   829,272 10,670 SH   SOLE None 10,670 0 0
NIKE INC CL B 654106103   312,417 2,670 SH   SOLE None 2,670 0 0
NUTRIEN LTD COM 67077M108   32,420,876 444,400 SH   OTR 1 369,156 5,258 69,986
OSHKOSH CORP. COM 688239201   5,073,483 57,529 SH   SOLE None 57,529 0 0
RESTAURANT BRANDS INTERNATIONAL INC. COM 76131D103   32,341,917 500,422 SH   OTR 1 417,695 5,654 77,073
ROGERS COMMUNICATIONS INC CLASS B CL B 775109200   37,361,946 798,862 SH   OTR 1 666,346 9,266 123,250
ROYAL BANK OF CANADA COM 780087102   367,349 3,910 SH   SOLE None 3,910 0 0
SPDR BLOOMBERG BARCLAYS HIGH YIELD BOND ETF BLOOMBERG HIGH Y 78468R622   144,000 1,600 SH   SOLE None 1,600 0 0
TARGET CORP COM 87612E106   1,447,476 9,712 SH   SOLE None 9,712 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102   916,899 1,665 SH   SOLE None 1,665 0 0
TRUIST FINANCIAL CORP COM 89832Q109   871,228 20,247 SH   SOLE None 20,247 0 0
VAIL RESORTS INC. COM 91879Q109   741,030 3,109 SH   SOLE None 3,109 0 0
WABTEC CORP COM 929740108   1,289,046 12,915 SH   SOLE None 12,915 0 0