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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AERCAP HOLDINGS NV SHS N00985106   2,601,200 35,000 SH   SOLE 1 35,000 0 0
AGNICO EAGLE MINES LTD COM 008474108   9,645,188 175,877 SH   SOLE 1 175,877 0 0
AMAZON COM INC COM 023135106   1,899,250 12,500 SH   SOLE 1 12,500 0 0
ATS CORPORATION COM 00217Y104   273,053 6,335 SH   SOLE 1 6,335 0 0
BANK AMERICA CORP COM 060505104   3,400,670 101,000 SH   SOLE 1 101,000 0 0
BANK MONTREAL QUE COM 063671101   5,393,956 54,511 SH   SOLE 1 54,511 0 0
BANK NOVA SCOTIA HALIFAX COM 064149107   2,281,467 46,867 SH   SOLE 1 46,867 0 0
BARRICK GOLD CORP COM 067901108   2,179,008 120,600 SH   SOLE 1 120,600 0 0
BROOKFIELD BUSINESS PARTNERS UNIT LTD L P G16234109   6,891,612 334,267 SH   SOLE 1 334,267 0 0
BROOKFIELD CORP CL A LTD VT SH 11271J107   5,984,053 149,178 SH   SOLE 1 149,178 0 0
BROOKFIELD INFRAST PARTNERS LP INT UNIT G16252101   6,798,694 215,800 SH   SOLE 1 215,800 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107   3,338,800 20,000 SH   SOLE 1 20,000 0 0
CAMECO CORP COM 13321L108   2,390,077 55,440 SH   SOLE 1 55,440 0 0
CANADIAN IMPERIAL BK COMM TO COM 136069101   3,320,996 68,970 SH   SOLE 1 68,970 0 0
CANADIAN NAT RES LTD COM 136385101   3,063,925 46,765 SH   SOLE 1 46,765 0 0
CANADIAN PACIFIC KANSAS CITY COM 13646K108   14,068,499 177,860 SH   SOLE 1 177,860 0 0
CENOVUS ENERGY INC COM 15135U109   5,965,648 358,030 SH   SOLE 1 358,030 0 0
CGI INC CL A SUB VTG 12532H104   1,139,894 10,640 SH   SOLE 1 10,640 0 0
CRESCENT PT ENERGY CORP COM 22576C101   2,339,242 337,290 SH   SOLE 1 337,290 0 0
DENISON MINES CORP COM 248356107   2,307,183 1,317,670 SH   SOLE 1 1,317,670 0 0
DOCEBO INC COM 25609L105   7,458,731 154,442 SH   SOLE 1 154,442 0 0
EATON CORP PLC SHS G29183103   2,408,200 10,000 SH   SOLE 1 10,000 0 0
ENBRIDGE INC COM 29250N105   3,186,312 88,508 SH   SOLE 1 88,508 0 0
ENDEAVOUR SILVER CORP COM 29258Y103   648,474 330,470 SH   SOLE 1 330,470 0 0
ENERFLEX LTD COM 29269R105   4,361,817 942,800 SH   SOLE 1 942,800 0 0
ENERGY FUELS INC COM NEW 292671708   2,287,546 319,050 SH   SOLE 1 319,050 0 0
ENERPLUS CORP COM 292766102   4,688,503 305,870 SH   SOLE 1 305,870 0 0
FIRST MAJESTIC SILVER CORP COM 32076V103   946,278 154,220 SH   SOLE 1 154,220 0 0
FRANCO NEV CORP COM 351858105   729,979 6,590 SH   SOLE 1 6,590 0 0
GENERAL ELECTRIC CO COM NEW 369604301   1,595,375 12,500 SH   SOLE 1 12,500 0 0
GFL ENVIRONMENTAL INC SUB VTG SHS 36168Q104   4,079,440 118,230 SH   SOLE 1 118,230 0 0
HOWMET AEROSPACE INC COM 443201108   1,623,600 30,000 SH   SOLE 1 30,000 0 0
HUDBAY MINERALS INC COM 443628102   2,270,316 412,640 SH   SOLE 1 412,640 0 0
IAMGOLD CORP COM 450913108   1,434,429 569,043 SH   SOLE 1 569,043 0 0
MAG SILVER CORP COM 55903Q104   1,042,220 100,140 SH   SOLE 1 100,140 0 0
MAGNA INTL INC COM 559222401   933,578 15,800 SH   SOLE 1 15,800 0 0
MANULIFE FINL CORP COM 56501R106   5,286,289 239,211 SH   SOLE 1 239,211 0 0
METHANEX CORP COM 59151K108   1,216,711 25,720 SH   SOLE 1 25,720 0 0
NEXGEN ENERGY LTD COM 65340P106   1,542,050 220,410 SH   SOLE 1 220,410 0 0
NUTRIEN LTD COM 67077M108   1,759,500 31,230 SH   SOLE 1 31,230 0 0
ORLA MNG LTD NEW COM 68634K106   652,993 200,280 SH   SOLE 1 200,280 0 0
OSISKO DEVELOPMENT CORP COM NEW 68828E809   567,218 195,210 SH   SOLE 1 195,210 0 0
OSISKO GOLD ROYALTIES LTD COM 68827L101   7,819,123 547,872 SH   SOLE 1 547,872 0 0
PARKER-HANNIFIN CORP COM 701094104   2,303,500 5,000 SH   SOLE 1 5,000 0 0
PEMBINA PIPELINE CORP COM 706327103   2,214,222 64,310 SH   SOLE 1 64,310 0 0
PRECISION DRILLING CORP COM NEW 74022D407   2,344,013 43,160 SH   SOLE 1 43,160 0 0
PRIMO WATER CORPORATION COM 74167P108   192,371 12,770 SH   SOLE 1 12,770 0 0
RB GLOBAL INC COM 74935Q107   10,741,082 160,550 SH   SOLE 1 160,550 0 0
RESTAURANT BRANDS INTL INC COM 76131D103   4,170,733 53,380 SH   SOLE 1 53,380 0 0
ROGERS COMMUNICATIONS INC CL B 775109200   20,292,320 433,489 SH   SOLE 1 433,489 0 0
ROYAL BK CDA COM 780087102   9,223,214 91,199 SH   SOLE 1 91,199 0 0
SANDSTORM GOLD LTD COM NEW 80013R206   1,510,097 300,430 SH   SOLE 1 300,430 0 0
SHOPIFY INC CL A 82509L107   6,006,682 77,150 SH   SOLE 1 77,150 0 0
STANTEC INC COM 85472N109   344,433 4,290 SH   SOLE 1 4,290 0 0
SUN LIFE FINANCIAL INC. COM 866796105   3,010,218 58,040 SH   SOLE 1 58,040 0 0
SUNCOR ENERGY INC NEW COM 867224107   2,013,427 62,845 SH   SOLE 1 62,845 0 0
TC ENERGY CORP COM 87807B107   4,940,629 126,425 SH   SOLE 1 126,425 0 0
TECK RESOURCES LTD CL B 878742204   1,048,346 24,800 SH   SOLE 1 24,800 0 0
THOMSON REUTERS CORP. COM 884903808   1,125,251 7,696 SH   SOLE 1 7,696 0 0
TJX COS INC NEW COM 872540109   2,118,230 22,580 SH   SOLE 1 22,580 0 0
TORONTO DOMINION BK ONT COM NEW 891160509   7,006,741 108,431 SH   SOLE 1 108,431 0 0
TRANSALTA CORP COM 89346D107   2,315,382 278,390 SH   SOLE 1 278,390 0 0
TRIPLE FLAG PRECIOUS METAL COM 89679M104   5,413,045 406,589 SH   SOLE 1 406,589 0 0
UBER TECHNOLOGIES INC COM 90353T100   8,404,305 136,500 SH   SOLE 1 136,500 0 0
UNION PAC CORP COM 907818108   2,330,934 9,490 SH   SOLE 1 9,490 0 0
UNITED RENTALS INC COM 911363109   10,132,331 17,670 SH   SOLE 1 17,670 0 0
WASTE CONNECTIONS INC COM 94106B101   1,284,233 8,600 SH   SOLE 1 8,600 0 0
WELLS FARGO CO NEW COM 949746101   1,230,500 25,000 SH   SOLE 1 25,000 0 0
WHEATON PRECIOUS METALS CORP COM 962879102   2,101,230 42,590 SH   SOLE 1 42,590 0 0
XPO INC COM 983793100   1,708,881 19,510 SH   SOLE 1 19,510 0 0