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
3M Company Common Stock 88579Y101   6,024 56,795 SH   SOLE   56,795 0 0
Abbott Laboratories Common Stock 002824100   236,398 2,079,873 SH   SOLE   2,079,873 0 0
Abbvie Inc Common Stock 00287Y109   23,978 131,678 SH   SOLE   131,678 0 0
Accenture Plc Common Stock G1151C101   172,253 496,966 SH   SOLE   496,966 0 0
Adobe Inc. Common Stock 00724F101   418 830 SH   SOLE   830 0 0
Aflac Incorporated Common Stock 001055102   1,674 19,500 SH   SOLE   19,500 0 0
Air Products & Chemicals Inc. Common Stock 009158106   363 1,500 SH   SOLE   1,500 0 0
Alcon Inc. Common Stock H01301128   19,555 234,786 SH   SOLE   234,786 0 0
Alithya Group Inc. Common Stock 01643B106   3,578 2,316,984 SH   SOLE   2,316,984 0 0
Allstate Corporation Common Stock 020002101   5,341 30,873 SH   SOLE   30,873 0 0
Alphabet Inc - A Common Stock 02079K305   251,280 1,664,883 SH   SOLE   1,664,883 0 0
Alphabet Inc - C Common Stock 02079K107   221,302 1,453,449 SH   SOLE   1,453,449 0 0
Altria Group Inc. Common Stock 02209S103   2,691 61,700 SH   SOLE   61,700 0 0
Amazon.Com Inc Common Stock 023135106   398,685 2,210,251 SH   SOLE   2,210,251 0 0
Ambev SA ADR ADR 02319V103   93 37,738 SH   SOLE   37,738 0 0
American Financial Group Inc/OH Common Stock 025932104   67,068 491,418 SH   SOLE   491,418 0 0
AMETEK Inc Common Stock 031100100   120,702 659,935 SH   SOLE   659,935 0 0
Apple Inc. Common Stock 037833100   9,747 56,906 SH   SOLE   56,906 0 0
ASML Holding NV-NY Reg Shs NY Reg Shrs N07059210   26,297 27,098 SH   SOLE   27,098 0 0
Astrazeneca PLC ADR 046353108   954 14,083 SH   SOLE   14,083 0 0
ATS Corp Common Stock 00217Y104   2,129 63,231 SH   SOLE   63,231 0 0
Autodesk Inc Common Stock 052769106   60,447 232,115 SH   SOLE   232,115 0 0
Automatic Data Processing Inc. Common Stock 053015103   26,495 106,094 SH   SOLE   106,094 0 0
Axos Financial Inc Common Stock 05465C100   35,225 651,835 SH   SOLE   651,835 0 0
Baidu Inc. Sponsored ADR ADR 056752108   204 1,946 SH   SOLE   1,946 0 0
Bank of America Corporation Common Stock 060505104   742 19,587 SH   SOLE   19,587 0 0
Bank of Montreal Common Stock 063671101   374,016 3,827,130 SH   SOLE   3,827,130 0 0
Bank of Nova Scotia Common Stock 064149107   659,723 12,741,121 SH   SOLE   12,741,121 0 0
Bank OZK Common Stock 06417N103   67,603 1,487,094 SH   SOLE   1,487,094 0 0
Barrick Gold Corporation Common Stock 067901108   293 17,654 SH   SOLE   17,654 0 0
BCE Inc. Common Stock 05534B760   10,015 294,459 SH   SOLE   294,459 0 0
Becton Dickinson and Company Common Stock 075887109   221,758 896,176 SH   SOLE   896,176 0 0
Berkshire Hathaway Inc - A Common Stock 084670108   1,268 2 SH   SOLE   2 0 0
Berkshire Hathaway Inc - B Common Stock 084670702   108,293 257,522 SH   SOLE   257,522 0 0
Berry Global Group Inc Common Stock 08579W103   1,461 24,164 SH   SOLE   24,164 0 0
Booking Holdings Inc Common Stock 09857L108   20,693 5,704 SH   SOLE   5,704 0 0
Boston Scientific Corporation Common Stock 101137107   202,929 2,962,910 SH   SOLE   2,962,910 0 0
Broadcom Inc Common Stock 11135F101   355 268 SH   SOLE   268 0 0
Brookfield Asset Management Ltd Common Stock 113004105   388 9,232 SH   SOLE   9,232 0 0
Brookfield Corp Common Stock 11271J107   907,512 21,667,121 SH   SOLE   21,667,121 0 0
Brookfield Renewable Energy Partners MLP G16258108   204 8,767 SH   SOLE   8,767 0 0
Brown-Forman Corp - A Common Stock 115637100   2,231 42,138 SH   SOLE   42,138 0 0
Brown-Forman Corp - B Common Stock 115637209   1,726 33,443 SH   SOLE   33,443 0 0
CAE Inc. Common Stock 124765108   453,983 21,964,698 SH   SOLE   21,964,698 0 0
Canadian Imperial Bank of Commerce Common Stock 136069101   2,020 39,818 SH   SOLE   39,818 0 0
Canadian National Railway Company Common Stock 136375102   1,121,849 8,511,212 SH   SOLE   8,511,212 0 0
Canadian Natural Resources Common Stock 136385101   1,460 19,129 SH   SOLE   19,129 0 0
Canadian Pacific Kansas City Ltd Common Stock 13646K108   5,297 60,028 SH   SOLE   60,028 0 0
Cardinal Health Inc. Common Stock 14149Y108   251 2,250 SH   SOLE   2,250 0 0
Caterpillar Inc. Common Stock 149123101   392 1,072 SH   SOLE   1,072 0 0
CDW Corp/DE Common Stock 12514G108   498 1,949 SH   SOLE   1,949 0 0
Cenovus Energy Inc. Common Stock 15135U109   453 22,680 SH   SOLE   22,680 0 0
CGI Inc. Common Stock 12532H104   520,202 4,710,670 SH   SOLE   4,710,670 0 0
Chevron Corporation Common Stock 166764100   11,198 70,991 SH   SOLE   70,991 0 0
Chubb Limited Common Stock H1467J104   184,980 713,854 SH   SOLE   713,854 0 0
Cintas Corporation Common Stock 172908105   549 800 SH   SOLE   800 0 0
Cisco Systems Inc. Common Stock 17275R102   237 4,750 SH   SOLE   4,750 0 0
Clorox Company Common Stock 189054109   612 4,000 SH   SOLE   4,000 0 0
CME Group Inc. Common Stock 12572Q105   33,783 156,920 SH   SOLE   156,920 0 0
Coca-Cola Company Common Stock 191216100   6,377 104,240 SH   SOLE   104,240 0 0
Colgate-Palmolive Company Common Stock 194162103   53,047 589,084 SH   SOLE   589,084 0 0
Colliers International Group Inc Common Stock 194693107   271,098 2,215,765 SH   SOLE   2,215,765 0 0
Comcast Corp - A Common Stock 20030N101   18,382 424,058 SH   SOLE   424,058 0 0
Cooper Cos Inc/the Common Stock 216648501   1,461 14,400 SH   SOLE   14,400 0 0
Copart Inc Common Stock 217204106   251,702 4,345,695 SH   SOLE   4,345,695 0 0
Costco Wholesale Corporation Common Stock 22160K105   47,185 64,405 SH   SOLE   64,405 0 0
Credicorp Ltd ADR Common Stock G2519Y108   6,708 39,595 SH   SOLE   39,595 0 0
Credit Acceptance Corp. Common Stock 225310101   38,425 69,669 SH   SOLE   69,669 0 0
CVS Health Corporation Common Stock 126650100   7,540 94,545 SH   SOLE   94,545 0 0
CyberArk Software Ltd ADR Common Stock M2682V108   40,120 151,038 SH   SOLE   151,038 0 0
Danaher Corporation Common Stock 235851102   144,347 578,039 SH   SOLE   578,039 0 0
Descartes Systems Group Inc Common Stock 249906108   304,814 3,329,220 SH   SOLE   3,329,220 0 0
Diageo Plc ADR ADR 25243Q205   103,990 699,141 SH   SOLE   699,141 0 0
Dollar Tree Inc Common Stock 256746108   539 4,050 SH   SOLE   4,050 0 0
Dominion Energy Common Stock 25746U109   1,011 20,568 SH   SOLE   20,568 0 0
Duke Energy Corporation Common Stock 26441C204   3,431 35,483 SH   SOLE   35,483 0 0
Eli Lilly & Company Common Stock 532457108   24,635 31,667 SH   SOLE   31,667 0 0
Emerson Electric Co. Common Stock 291011104   6,912 60,950 SH   SOLE   60,950 0 0
Enbridge Inc Common Stock 29250N105   99,338 2,746,263 SH   SOLE   2,746,263 0 0
EOG Resources Inc. Common Stock 26875P101   3,129 24,479 SH   SOLE   24,479 0 0
Estee Lauder Companies Inc - A Common Stock 518439104   68,995 447,589 SH   SOLE   447,589 0 0
Exxon Mobil Corporation Common Stock 30231G102   32,171 276,772 SH   SOLE   276,772 0 0
Fiserv Inc. Common Stock 337738108   279,238 1,747,209 SH   SOLE   1,747,209 0 0
Fomento Econ.Mexicano SAB de CV ADR ADR 344419106   7,431 57,047 SH   SOLE   57,047 0 0
Fortis Inc. Common Stock 349553107   1,519 38,422 SH   SOLE   38,422 0 0
Franco Nevada Corporation Common Stock 351858105   414,430 3,474,773 SH   SOLE   3,474,773 0 0
Gildan Activewear Inc. Common Stock 375916103   416,875 11,222,154 SH   SOLE   11,222,154 0 0
Guidewire Software Inc Common Stock 40171V100   98,782 846,393 SH   SOLE   846,393 0 0
Hartford Financial Services Grp Inc. Common Stock 416515104   370 3,600 SH   SOLE   3,600 0 0
HDFC Bank Ltd ADR ADR 40415F101   91,827 1,640,649 SH   SOLE   1,640,649 0 0
Hilton Worldwide Holdings Inc. Common Stock 43300A203   464 2,176 SH   SOLE   2,176 0 0
Home Depot Inc. Common Stock 437076102   1,384 3,608 SH   SOLE   3,608 0 0
Honeywell International Inc. Common Stock 438516106   476 2,320 SH   SOLE   2,320 0 0
Illinois Tool Works Inc. Common Stock 452308109   338 1,262 SH   SOLE   1,262 0 0
Imperial Oil Limited Common Stock 453038408   2,908 42,123 SH   SOLE   42,123 0 0
Infosys Ltd ADR ADR 456788108   4,928 274,864 SH   SOLE   274,864 0 0
ING Groep N.V. ADR ADR 456837103   1,347 81,698 SH   SOLE   81,698 0 0
Interactive Brokers Group Inc Common Stock 45841N107   191,056 1,710,286 SH   SOLE   1,710,286 0 0
Intercontinental Hotels-ADR ADR 45857P806   811 7,685 SH   SOLE   7,685 0 0
International Business Machines Corp Common Stock 459200101   200 1,050 SH   SOLE   1,050 0 0
International Flavors & Fragrances Common Stock 459506101   2,084 24,237 SH   SOLE   24,237 0 0
IQVIA Holdings Inc Common Stock 46266C105   191,538 757,397 SH   SOLE   757,397 0 0
iShares 0-3 Month Treasury Bond ETF ETP 46436E718   1,722 17,103 SH   SOLE   17,103 0 0
iShares 5-10 Year Inv. Grade Corp. Bond ETF ETP 464288638   211 4,096 PRN   SOLE   4,096 0 0
iShares Core 1-5 Year USD Bond ETF Common Stock 46432F859   825 17,403 PRN   SOLE   17,403 0 0
iShares MSCI EAFE Index Fund ETP 464287465   1,128 14,137 SH   SOLE   14,137 0 0
iShares Short Treasury Bond ETF ETP 464288679   18,528 167,621 SH   SOLE   167,621 0 0
Johnson & Johnson Common Stock 478160104   103,600 654,913 SH   SOLE   654,913 0 0
JPMorgan Chase & Co. Common Stock 46625H100   222,237 1,109,524 SH   SOLE   1,109,524 0 0
Kimberly-Clark Corporation Common Stock 494368103   7,651 59,155 SH   SOLE   59,155 0 0
LCI Industries Common Stock 50189K103   66,380 539,415 SH   SOLE   539,415 0 0
Lowe's Companies Inc. Common Stock 548661107   942 3,700 SH   SOLE   3,700 0 0
Lululemon Athletica Inc Common Stock 550021109   273 700 SH   SOLE   700 0 0
M&T Bank Corporation Common Stock 55261F104   573 3,940 SH   SOLE   3,940 0 0
Magna International Inc - A Common Stock 559222401   368,199 6,752,491 SH   SOLE   6,752,491 0 0
Manulife Financial Corporation Common Stock 56501R106   499,559 19,983,130 SH   SOLE   19,983,130 0 0
Marsh & McLennan Companies Inc. Common Stock 571748102   350 1,700 SH   SOLE   1,700 0 0
Mastercard Inc - A Common Stock 57636Q104   323,106 670,944 SH   SOLE   670,944 0 0
McCormick & Company Incorporated Common Stock 579780206   207 2,700 SH   SOLE   2,700 0 0
McDonald's Corporation Common Stock 580135101   5,228 18,543 SH   SOLE   18,543 0 0
Medtronic Inc. Plc Common Stock G5960L103   786 9,019 SH   SOLE   9,019 0 0
Merck & Co. Inc. Common Stock 58933Y105   6,082 46,097 SH   SOLE   46,097 0 0
Meta Platforms Inc Common Stock 30303M102   107,860 222,128 SH   SOLE   222,128 0 0
MetLife Inc. Common Stock 59156R108   2,480 33,475 SH   SOLE   33,475 0 0
Microsoft Corporation Common Stock 594918104   660,683 1,570,363 SH   SOLE   1,570,363 0 0
Mondelez International Inc. Common Stock 609207105   88,042 1,257,756 SH   SOLE   1,257,756 0 0
Monster Beverage Corp Common Stock 61174X109   63,642 1,073,595 SH   SOLE   1,073,595 0 0
National Grid Plc ADR ADR 636274409   2,534 37,159 SH   SOLE   37,159 0 0
NIKE Inc Common Stock 654106103   6,264 66,663 SH   SOLE   66,663 0 0
Novartis AG ADR ADR 66987V109   5,930 61,313 SH   SOLE   61,313 0 0
Novo Nordisk A/S Sponsored ADR ADR 670100205   15,286 119,052 SH   SOLE   119,052 0 0
NU Holdings Ltd/Cayman Islands Common Stock G6683N103   8,626 723,126 SH   SOLE   723,126 0 0
Nutrien Ltd Common Stock 67077M108   15,152 278,636 SH   SOLE   278,636 0 0
NVIDIA Corporation Common Stock 67066G104   657 728 SH   SOLE   728 0 0
Open Text Corporation Common Stock 683715106   580,060 14,934,688 SH   SOLE   14,934,688 0 0
Oracle Corporation Common Stock 68389X105   208,290 1,658,230 SH   SOLE   1,658,230 0 0
Parker Hannifin Corporation Common Stock 701094104   3,129 5,630 SH   SOLE   5,630 0 0
Pembina Pipeline Corporation Common Stock 706327103   17,557 496,971 SH   SOLE   496,971 0 0
PepsiCo Inc. Common Stock 713448108   254,068 1,451,736 SH   SOLE   1,451,736 0 0
Pfizer Inc. Common Stock 717081103   6,265 225,794 SH   SOLE   225,794 0 0
Philip Morris International Inc. Common Stock 718172109   2,792 30,475 SH   SOLE   30,475 0 0
Procter & Gamble Company Common Stock 742718109   101,054 622,835 SH   SOLE   622,835 0 0
Progressive Corp/The Common Stock 743315103   29,349 141,909 SH   SOLE   141,909 0 0
Public Service Enterprises Group Common Stock 744573106   45,547 682,055 SH   SOLE   682,055 0 0
Relx Plc ADR ADR 759530108   55,474 1,281,454 SH   SOLE   1,281,454 0 0
Restaurant Brands International Inc. Common Stock 76131D103   537,090 6,756,695 SH   SOLE   6,756,695 0 0
Rogers Communications Inc - B Common Stock 775109200   691 16,851 SH   SOLE   16,851 0 0
Ross Stores Inc. Common Stock 778296103   379 2,584 SH   SOLE   2,584 0 0
Royal Bank of Canada Common Stock 780087102   225,681 2,235,429 SH   SOLE   2,235,429 0 0
Sanofi ADR ADR 80105N105   204 4,200 SH   SOLE   4,200 0 0
SAP AG ADR ADR 803054204   28,734 147,336 SH   SOLE   147,336 0 0
Sea Ltd ADR 81141R100   5,239 97,556 SH   SOLE   97,556 0 0
ServisFirst Bancshares Inc Common Stock 81768T108   26,433 398,340 SH   SOLE   398,340 0 0
Shell PLC - ADR ADR 780259305   2,435 36,327 SH   SOLE   36,327 0 0
Shopify Inc. Class - A Common Stock 82509L107   291,138 3,770,182 SH   SOLE   3,770,182 0 0
Silvercorp Metals Inc. Common Stock 82835P103   102 31,500 SH   SOLE   31,500 0 0
SiteOne Landscape Supply Inc Common Stock 82982L103   75,896 434,813 SH   SOLE   434,813 0 0
Smith & Nephew Plc ADR ADR 83175M205   718 28,350 SH   SOLE   28,350 0 0
Smith A.O Corp Common Stock 831865209   223 2,494 SH   SOLE   2,494 0 0
SPDR Gold Trust ETP 78463V107   1,243 6,046 SH   SOLE   6,046 0 0
SPDR S&P 500 ETF Trust ETP 78462F103   23,883 45,661 SH   SOLE   45,661 0 0
Stantec Inc Common Stock 85472N109   452,518 5,445,228 SH   SOLE   5,445,228 0 0
Stryker Corporation Common Stock 863667101   869 2,429 SH   SOLE   2,429 0 0
Sun Life Financial Inc. Common Stock 866796105   12,618 231,046 SH   SOLE   231,046 0 0
Suncor Energy Inc. Common Stock 867224107   6,467 175,067 SH   SOLE   175,067 0 0
Taiwan Semiconductor Manufactng ADR ADR 874039100   39,507 290,390 SH   SOLE   290,390 0 0
TC Energy Corp. Common Stock 87807B107   513,296 12,759,331 SH   SOLE   12,759,331 0 0
TELUS Corp Common Stock 87971M103   15,316 956,521 SH   SOLE   956,521 0 0
Texas Instruments Incorporated Common Stock 882508104   387 2,225 SH   SOLE   2,225 0 0
The Sherwin-Williams Company Common Stock 824348106   143,503 413,161 SH   SOLE   413,161 0 0
Thomson Reuters Corp Common Stock 884903808   580,124 3,724,155 SH   SOLE   3,724,155 0 0
TJX Companies Inc. Common Stock 872540109   103,453 1,020,046 SH   SOLE   1,020,046 0 0
Toronto-Dominion Bank Common Stock 891160509   111,077 1,838,726 SH   SOLE   1,838,726 0 0
TotalEnergies SE - ADR ADR 89151E109   4,041 58,714 SH   SOLE   58,714 0 0
Travelers Companies Inc. Common Stock 89417E109   239 1,040 SH   SOLE   1,040 0 0
Trip.com Group Ltd - ADR Common Stock 89677Q107   8,087 184,272 SH   SOLE   184,272 0 0
Triple Flag Precious Metals Corp Common Stock 89679M104   9,082 628,068 SH   SOLE   628,068 0 0
Unilever Plc ADR ADR 904767704   32,404 645,631 SH   SOLE   645,631 0 0
Union Pacific Corporation Common Stock 907818108   232 944 SH   SOLE   944 0 0
UnitedHealth Group Incorporated Common Stock 91324P102   324,077 655,100 SH   SOLE   655,100 0 0
US Bancorp Common Stock 902973304   2,384 53,352 SH   SOLE   53,352 0 0
Valero Energy Corporation Common Stock 91913Y100   340 1,992 SH   SOLE   1,992 0 0
Veralto Corp Common Stock 92338C103   207 2,339 SH   SOLE   2,339 0 0
Verisk Analytics Inc - A Common Stock 92345Y106   48,798 207,012 SH   SOLE   207,012 0 0
Visa Inc - A Common Stock 92826C839   2,624 9,404 SH   SOLE   9,404 0 0
W.R. Berkley Corp. Common Stock 084423102   275 3,114 SH   SOLE   3,114 0 0
Wal-Mart Stores Inc. Common Stock 931142103   1,055 17,543 SH   SOLE   17,543 0 0
Walt Disney Company Common Stock 254687106   384 3,139 SH   SOLE   3,139 0 0
Waste Connections Inc. Common Stock 94106B101   306 1,784 SH   SOLE   1,784 0 0
Wells Fargo & Company Common Stock 949746101   1,279 22,070 SH   SOLE   22,070 0 0
West Fraser Timber Co. Ltd. Common Stock 952845105   409 4,740 SH   SOLE   4,740 0 0
Xcel Energy Inc. Common Stock 98389B100   2,461 45,800 SH   SOLE   45,800 0 0
XP Inc Common Stock G98239109   7,316 285,128 SH   SOLE   285,128 0 0
Yum China Holdings Inc Common Stock 98850P109   5,068 127,393 SH   SOLE   127,393 0 0
Zimmer Biomet Holdings Inc Common Stock 98956P102   4,101 31,073 SH   SOLE   31,073 0 0
Zoetis Inc. Common Stock 98978V103   17,265 102,035 SH   SOLE   102,035 0 0