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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AGNICO EAGLE MINES LTD COM 008474108 36,850 867,652 SH   SOLE None 698,689 9,594 159,369
ALPHABET INC CLASS A CAP STK CL A 02079K305 402 4,200 SH   SOLE None 4,200 0 0
ALPHABET INC CLASS C CAP STK CL C 02079K107 652 6,780 SH   SOLE None 6,780 0 0
AMAZON.COM INC COM 023135106 1,601 14,170 SH   SOLE None 14,170 0 0
APPLE INC. COM 037833100 1,113 8,055 SH   SOLE None 8,055 0 0
AXS SHORT INNOVATION ETF AXS SHORT INNOV 46144X628 520 8,400 SH   OTR 1 8,400 0 0
BANK OF NOVA SCOTIA COM 064149107 29,695 621,059 SH   SOLE None 499,441 6,914 114,704
BERKSHIRE HATHAWAY INC. - CL B CL B NEW 084670702 1,316 4,928 SH   SOLE None 4,928 0 0
CAE INC COM 124765108 22,246 1,442,526 SH   SOLE None 1,160,886 16,130 265,510
CANADIAN IMPERIAL BANK OF COMMERCE COM 136069101 37,754 858,025 SH   OTR 1 691,641 9,482 156,902
CANADIAN NATURAL RESOURCES LTD COM 136385101 16,705 356,993 SH   OTR 1 286,959 3,979 66,055
CANADIAN PACIFIC RAILWAY LTD COM 13645T100 47,695 710,705 SH   SOLE None 572,579 7,858 130,268
CENOVUS ENERGY INC COM 15135U109 29,310 1,897,911 SH   SOLE None 1,525,503 21,165 351,243
CENOVUS ENERGY INC - WARRANT *W EXP 01/01/202 15135U117 126 11,875 SH   SOLE None 11,875 0 0
CGI INC CL A SUB VTG 12532H104 34,297 453,171 SH   OTR 1 364,451 5,056 83,664
CISCO SYSTEMS INC COM 17275R102 729 18,216 SH   OTR 1 18,216 0 0
DISNEY COMPANY COM 254687106 1,018 10,795 SH   SOLE None 10,795 0 0
ENBRIDGE INC COM 29250N105 24,444 655,728 SH   OTR 1 527,174 7,314 121,240
FLUOR CORP COM 343412102 3,060 122,932 SH   SOLE None 122,932 0 0
GENERAL MOTORS CO COM 37045V100 1,319 41,100 SH   SOLE None 41,100 0 0
GILDAN ACTIVEWEAR INC COM 375916103 32,644 1,148,640 SH   SOLE None 922,533 12,838 213,269
HENRY SCHEIN INC. COM 806407102 2,695 40,976 SH   SOLE None 40,976 0 0
HUDBAY MINERALS INC COM 443628102 2,388 590,100 SH   SOLE None 590,100 0 0
ING GROEP NV - ADR SPONSORED ADR 456837103 1,020 120,032 SH   OTR 1 120,032 0 0
INTEL CORP COM 458140100 851 33,020 SH   SOLE None 33,020 0 0
ISHARES IBOXX HIGH YIELD CORPORATE BOND ETF IBOXX HI YD ETF 464288513 159 2,230 SH   SOLE None 2,230 0 0
JPMORGAN CHASE & CO COM 46625H100 1,122 10,735 SH   SOLE None 10,735 0 0
MANULIFE FINANCIAL CORP COM 56501R106 42,161 2,672,162 SH   SOLE None 2,149,094 29,805 493,263
MEDTRONIC PLC SHS G5960L103 862 10,670 SH   SOLE None 10,670 0 0
NUTRIEN LTD COM 67077M108 39,243 468,064 SH   OTR 1 376,245 5,220 86,599
OSHKOSH CORP. COM 688239201 3,993 56,808 SH   OTR 1 56,808 0 0
RESTAURANT BRANDS INTERNATIONAL INC. COM 76131D103 39,913 746,365 SH   OTR 1 606,157 8,326 131,882
ROGERS COMMUNICATIONS INC CLASS B CL B 775109200 31,936 824,687 SH   SOLE None 662,857 9,197 152,633
ROSS STORES INC COM 778296103 910 10,800 SH   SOLE None 10,800 0 0
SPDR BLOOMBERG BARCLAYS HIGH YIELD BOND ETF BLOOMBERG HIGH Y 78468R622 157 1,788 SH   SOLE None 1,788 0 0
TARGET CORP COM 87612E106 943 6,350 SH   SOLE None 6,350 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 844 1,665 SH   SOLE None 1,665 0 0
TRUIST FINANCIAL CORP COM 89832Q109 660 15,147 SH   SOLE None 15,147 0 0
VAIL RESORTS INC. COM 91879Q109 453 2,100 SH   SOLE None 2,100 0 0
VF CORP COM 918204108 808 27,003 SH   OTR 1 27,003 0 0
WABTEC CORP COM 929740108 1,371 16,850 SH   OTR 1 16,850 0 0