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   3,597,670 79,177 SH   SOLE 1 79,177 0 0
AMAZON COM INC COM 023135106   1,906,800 15,000 SH   SOLE 1 15,000 0 0
ATS CORPORATION COM 00217Y104   1,970,175 46,220 SH   SOLE 1 46,220 0 0
BANK MONTREAL QUE COM 063671101   3,864,336 45,811 SH   SOLE 1 45,811 0 0
BANK NOVA SCOTIA HALIFAX COM 064149107   1,925,777 42,967 SH   SOLE 1 42,967 0 0
BARRICK GOLD CORP COM 067901108   1,148,511 79,070 SH   SOLE 1 79,070 0 0
BROOKFIELD CORP CL A LTD VT SH 11271J107   3,685,001 117,858 SH   SOLE 1 117,858 0 0
BROOKFIELD INFRAST PARTNERS LP INT UNIT G16252101   1,591,964 54,250 SH   SOLE 1 54,250 0 0
CAE INC COM 124765108   5,528,848 236,805 SH   SOLE 1 236,805 0 0
CAMECO CORP COM 13321L108   2,198,842 55,440 SH   SOLE 1 55,440 0 0
CANADIAN NAT RES LTD COM 136385101   3,569,344 55,195 SH   SOLE 1 55,195 0 0
CANADIAN PACIFIC KANSAS CITY COM 13646K108   15,859,886 213,260 SH   SOLE 1 213,260 0 0
CENOVUS ENERGY INC COM 15135U109   5,661,108 271,910 SH   SOLE 1 271,910 0 0
CGI INC CL A SUB VTG 12532H104   1,597,699 16,210 SH   SOLE 1 16,210 0 0
CRESCENT PT ENERGY CORP COM 22576C101   3,112,427 375,410 SH   SOLE 1 375,410 0 0
DENISON MINES CORP COM 248356107   2,371,968 1,444,800 SH   SOLE 1 1,444,800 0 0
DOCEBO INC COM 25609L105   5,696,942 140,492 SH   SOLE 1 140,492 0 0
ENBRIDGE INC COM 29250N105   2,935,443 88,508 SH   SOLE 1 88,508 0 0
ENDEAVOUR SILVER CORP COM 29258Y103   1,053,909 431,190 SH   SOLE 1 431,190 0 0
ENERFLEX LTD COM 29269R105   6,581,441 1,146,120 SH   SOLE 1 1,146,120 0 0
ENERGY FUELS INC COM NEW 292671708   2,617,618 318,600 SH   SOLE 1 318,600 0 0
ENERPLUS CORP COM 292766102   5,374,278 305,440 SH   SOLE 1 305,440 0 0
ERO COPPER CORP COM 296006109   689,673 40,000 SH   SOLE 1 40,000 0 0
FRANCO NEV CORP COM 351858105   1,675,366 12,550 SH   SOLE 1 12,550 0 0
GALLAGHER ARTHUR J & CO COM 363576109   733,935 3,220 SH   SOLE 1 3,220 0 0
GENERAL ELECTRIC CO COM NEW 369604301   1,517,852 13,730 SH   SOLE 1 13,730 0 0
GFL ENVIRONMENTAL INC SUB VTG SHS 36168Q104   3,356,858 105,720 SH   SOLE 1 105,720 0 0
GILDAN ACTIVEWEAR INC COM 375916103   403,344 14,400 SH   SOLE 1 14,400 0 0
HOWMET AEROSPACE INC COM 443201108   1,165,963 25,210 SH   SOLE 1 25,210 0 0
HUDBAY MINERALS INC COM 443628102   1,507,868 309,860 SH   SOLE 1 309,860 0 0
IAMGOLD CORP COM 450913108   1,225,717 568,233 SH   SOLE 1 568,233 0 0
MAG SILVER CORP COM 55903Q104   1,033,626 100,000 SH   SOLE 1 100,000 0 0
MANULIFE FINL CORP COM 56501R106   2,276,224 124,571 SH   SOLE 1 124,571 0 0
MARTIN MARIETTA MATLS INC COM 573284106   747,074 1,820 SH   SOLE 1 1,820 0 0
NEXGEN ENERGY LTD COM 65340P106   1,317,367 220,100 SH   SOLE 1 220,100 0 0
NUTRIEN LTD COM 67077M108   1,842,078 29,830 SH   SOLE 1 29,830 0 0
ORLA MNG LTD NEW COM 68634K106   1,297,556 367,188 SH   SOLE 1 367,188 0 0
OSISKO DEVELOPMENT CORP COM NEW 68828E809   563,985 194,930 SH   SOLE 1 194,930 0 0
OSISKO GOLD ROYALTIES LTD COM 68827L101   4,883,572 415,892 SH   SOLE 1 415,892 0 0
OWENS CORNING NEW COM 690742101   2,870,066 21,040 SH   SOLE 1 21,040 0 0
PARKER-HANNIFIN CORP COM 701094104   1,947,600 5,000 SH   SOLE 1 5,000 0 0
PEMBINA PIPELINE CORP COM 706327103   1,933,573 64,310 SH   SOLE 1 64,310 0 0
PRECISION DRILLING CORP COM NEW 74022D407   2,887,771 43,100 SH   SOLE 1 43,100 0 0
PRIMO WATER CORPORATION COM 74167P108   144,050 10,430 SH   SOLE 1 10,430 0 0
QUANTA SVCS INC COM 74762E102   935,350 5,000 SH   SOLE 1 5,000 0 0
RB GLOBAL INC COM 74935Q107   17,483,142 279,630 SH   SOLE 1 279,630 0 0
RESTAURANT BRANDS INTL INC COM 76131D103   958,221 14,390 SH   SOLE 1 14,390 0 0
ROGERS COMMUNICATIONS INC CL B 775109200   11,242,858 292,850 SH   SOLE 1 292,850 0 0
ROYAL BK CDA COM 780087102   9,359,065 107,099 SH   SOLE 1 107,099 0 0
SANDSTORM GOLD LTD COM NEW 80013R206   1,551,325 331,843 SH   SOLE 1 331,843 0 0
SHOPIFY INC CL A 82509L107   4,835,959 88,600 SH   SOLE 1 88,600 0 0
STANTEC INC COM 85472N109   2,088,465 32,190 SH   SOLE 1 32,190 0 0
STERLING INFRASTRUCTURE INC COM 859241101   1,102,200 15,000 SH   SOLE 1 15,000 0 0
SUN LIFE FINANCIAL INC. COM 866796105   2,420,862 49,620 SH   SOLE 1 49,620 0 0
SUNCOR ENERGY INC NEW COM 867224107   2,285,595 66,465 SH   SOLE 1 66,465 0 0
TC ENERGY CORP COM 87807B107   4,785,714 139,115 SH   SOLE 1 139,115 0 0
TECK RESOURCES LTD CL B 878742204   1,381,099 32,090 SH   SOLE 1 32,090 0 0
TORONTO DOMINION BK ONT COM NEW 891160509   7,438,302 123,471 SH   SOLE 1 123,471 0 0
TRANSALTA CORP COM 89346D107   2,219,989 254,900 SH   SOLE 1 254,900 0 0
TRIPLE FLAG PRECIOUS METAL COM 89679M104   4,210,808 321,509 SH   SOLE 1 321,509 0 0
UBER TECHNOLOGIES INC COM 90353T100   6,967,669 151,504 SH   SOLE 1 151,504 0 0
UNION PAC CORP COM 907818108   1,003,896 4,930 SH   SOLE 1 4,930 0 0
UNITED RENTALS INC COM 911363109   6,788,584 15,270 SH   SOLE 1 15,270 0 0
VALVOLINE INC COM 92047W101   1,489,488 46,200 SH   SOLE 1 46,200 0 0
VERMILION ENERGY INC COM 923725105   2,370,194 162,120 SH   SOLE 1 162,120 0 0
WELLS FARGO CO NEW COM 949746101   2,061,387 50,450 SH   SOLE 1 50,450 0 0
WHEATON PRECIOUS METALS CORP COM 962879102   1,104,165 27,210 SH   SOLE 1 27,210 0 0
XPO INC COM 983793100   828,726 11,100 SH   SOLE 1 11,100 0 0