Baskin Financial Services Inc. Long-Term Concentrated

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NFLX	Netflix Inc	520,588 (+888.8%)	$49 (-22.7%)	3.7%	$100.87	+6.9%	CS	64110L106
RACE	Ferrari N.V.	111,836 (+1.3%)	$41 (-22.8%)	3.1%	$145.45	+175.1%	CS	N3167Y103
META	Meta Platforms Inc.	39,577 (+1.9%)	$26 (-8.4%)	2.0%	$589.60	+13.2%	CS	30303M102
VCSH	Vanguard Short-Term Corporate Bond ETF	314,250 (+1.1%)	$25 (+0.9%)	1.9%	$1.85	—	CS	92206C409
TD	Toronto Dominion Bank	7,737 (+12.6%)	$1 (+32.8%)	0.1%	$56.69	+48.9%	CS	891160509
BN	Brookfield Corporation	1,353,889 (+48.9%)	$62 (-0.3%)	4.7%	$29.73	+53.2%	CS	11271J107
TSLA	Tesla Motors Inc	962 (+21.0%)	$0 (+22.3%)	0.0%	$325.93	+36.0%	CS	88160R101

Exited Positions (1)

AMT American Tower Corp 0.3%

Value ($000) $5 Shares 23,798 Est. Cost $196.72 Unrealized -8.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AMT	American Tower Corp	23,798	$5	0.3%	$196.72	-8.3%	—	03027X100

Decreased Positions (14)

GOOG Alphabet Inc. Class C 7.9%

Value ($000) $105 (+23.4%) Shares 335,573 (-4.2%) Est. Cost $107.14 Unrealized +167.3%

MSFT Microsoft Corp. 5.2%

Value ($000) $69 (-7.8%) Shares 143,262 (-1.2%) Est. Cost $46.90 Unrealized +967.4%

AAPL Apple Inc. 6.5%

Value ($000) $86 (+4.5%) Shares 315,458 (-2.2%) Est. Cost $84.19 Unrealized +218.7%

BAM Brookfield Asset Management Ltd 1.1%

Value ($000) $14 (-8.9%) Shares 267,852 (-1.1%) Est. Cost $28.12 Unrealized +90.1%

RY Royal Bank of Canada 0.8%

Value ($000) $11 (+12.9%) Shares 63,004 (-2.4%) Est. Cost $85.09 Unrealized +80.5%

V Visa Inc. Cls A 4.5%

Value ($000) $60 (+1.7%) Shares 171,357 (-1.0%) Est. Cost $91.57 Unrealized +271.7%

ADBE Adobe Systems Inc. 1.4%

Value ($000) $19 (-4.9%) Shares 54,433 (-4.1%) Est. Cost $424.16 Unrealized -19.8%

PBA Pembina Pipeline Corp 0.5%

Value ($000) $7 (-7.4%) Shares 190,590 (-1.7%) Est. Cost $25.94 Unrealized +48.3%

GOOGL Alphabet Inc. Class A 0.3%

Value ($000) $3 (+18.7%) Shares 10,830 (-7.8%) Est. Cost $112.29 Unrealized +154.3%

BIP Brookfield Infrast. Partners LP C$ 0.8%

Value ($000) $11 (+3.7%) Shares 320,741 (-1.7%) Est. Cost $39.78 Unrealized —

GRTUF Granite Real Estate Investment Trust 0.4%

Value ($000) $5 (+4.7%) Shares 83,932 (-2.4%) Est. Cost $0.05 Unrealized —

BIPC Brookfield Infrastructure Corp Sub VT 0.1%

Value ($000) $2 (+8.9%) Shares 34,961 (-1.5%) Est. Cost $40.09 Unrealized +12.3%

MSCI MSCI Inc 3.2%

Value ($000) $42 (-0.1%) Shares 73,057 (-1.2%) Est. Cost $486.44 Unrealized +15.1%

FTS Fortis Inc. 0.0%

Value ($000) $0 (-0.3%) Shares 7,449 (-2.6%) Est. Cost $42.31 Unrealized +20.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOG	Alphabet Inc. Class C	335,573 (-4.2%)	$105 (+23.4%)	7.9%	$107.14	+167.3%	CS	02079K107
MSFT	Microsoft Corp.	143,262 (-1.2%)	$69 (-7.8%)	5.2%	$46.90	+967.4%	CS	594918104
AAPL	Apple Inc.	315,458 (-2.2%)	$86 (+4.5%)	6.5%	$84.19	+218.7%	CS	037833100
BAM	Brookfield Asset Management Ltd	267,852 (-1.1%)	$14 (-8.9%)	1.1%	$28.12	+90.1%	CS	113004105
RY	Royal Bank of Canada	63,004 (-2.4%)	$11 (+12.9%)	0.8%	$85.09	+80.5%	CS	780087102
V	Visa Inc. Cls A	171,357 (-1.0%)	$60 (+1.7%)	4.5%	$91.57	+271.7%	CS	92826C839
ADBE	Adobe Systems Inc.	54,433 (-4.1%)	$19 (-4.9%)	1.4%	$424.16	-19.8%	CS	00724F101
PBA	Pembina Pipeline Corp	190,590 (-1.7%)	$7 (-7.4%)	0.5%	$25.94	+48.3%	CS	706327103
GOOGL	Alphabet Inc. Class A	10,830 (-7.8%)	$3 (+18.7%)	0.3%	$112.29	+154.3%	CS	02079K305
BIP	Brookfield Infrast. Partners LP C$	320,741 (-1.7%)	$11 (+3.7%)	0.8%	$39.78	—	CS	G16252101
GRTUF	Granite Real Estate Investment Trust	83,932 (-2.4%)	$5 (+4.7%)	0.4%	$0.05	—	CS	387437205
BIPC	Brookfield Infrastructure Corp Sub VT	34,961 (-1.5%)	$2 (+8.9%)	0.1%	$40.09	+12.3%	CS	11276H106
MSCI	MSCI Inc	73,057 (-1.2%)	$42 (-0.1%)	3.2%	$486.44	+15.1%	CS	55354G100
FTS	Fortis Inc.	7,449 (-2.6%)	$0 (-0.3%)	0.0%	$42.31	+20.1%	CS	349553107

Unchanged Positions (30)

FSV FirstService Corp 2.9%

Value ($000) $39 Shares 251,527 Est. Cost $92.67 Unrealized +75.3%

LYV Live Nation Entertainment Inc 3.4%

Value ($000) $45 Shares 315,844 Est. Cost $38.94 Unrealized +269.0%

TFII TFI International Inc. 3.3%

Value ($000) $44 Shares 427,622 Est. Cost $34.60 Unrealized +169.0%

GRMN Garmin Ltd 2.4%

Value ($000) $32 Shares 155,478 Est. Cost $128.37 Unrealized +68.8%

WSO Watsco Inc. 1.8%

Value ($000) $24 Shares 70,562 Est. Cost $310.37 Unrealized +15.0%

COST Costco Wholesale Corporation 4.3%

Value ($000) $57 Shares 65,886 Est. Cost $294.37 Unrealized +207.7%

CPRT Copart Inc. 2.3%

Value ($000) $30 Shares 768,301 Est. Cost $35.48 Unrealized +16.9%

TSM Taiwan Semiconductor Manufacturing Co 3.1%

Value ($000) $41 Shares 134,963 Est. Cost $0.23 Unrealized —

MCO Moody's Corp 4.1%

Value ($000) $54 Shares 105,563 Est. Cost $131.64 Unrealized +270.2%

AMZN Amazon.com Inc 4.2%

Value ($000) $55 Shares 239,521 Est. Cost $124.87 Unrealized +83.2%

SYK Stryker Corp 3.0%

Value ($000) $40 Shares 113,014 Est. Cost $199.44 Unrealized +82.2%

CNQ Canadian Natural Resources 2.6%

Value ($000) $35 Shares 1,026,851 Est. Cost $29.63 Unrealized +9.4%

QSR Restaurant Brands International 1.8%

Value ($000) $24 Shares 350,091 Est. Cost $66.24 Unrealized +4.0%

DPZ Domino's Pizza, Inc. 2.5%

Value ($000) $34 Shares 80,381 Est. Cost $292.33 Unrealized +42.1%

WCN Waste Connections Inc C$ 3.8%

Value ($000) $51 Shares 290,404 Est. Cost $61.01 Unrealized +183.2%

BRK/B Berkshire Hathaway B 3.3%

Value ($000) $44 Shares 87,416 Est. Cost $312.49 Unrealized +59.2%

TDG TransDigm Group Inc 2.3%

Value ($000) $31 Shares 22,938 Est. Cost $1161.68 Unrealized +12.8%

TJX TJX Companies Inc 0.1%

Value ($000) $2 Shares 11,080 Est. Cost $94.62 Unrealized +56.1%

CLS Celestica Inc 0.0%

Value ($000) $0 Shares 1,500 Est. Cost $106.30 Unrealized +183.5%

ENB Enbridge Inc. 0.0%

Value ($000) $0 Shares 8,400 Est. Cost $30.79 Unrealized +53.0%

QQQ Invesco QQQ Trust 0.0%

Value ($000) $1 Shares 1,080 Est. Cost $246.41 Unrealized —

JPM JP Morgan Chase & Co 0.0%

Value ($000) $1 Shares 1,562 Est. Cost $94.39 Unrealized +227.9%

EMA Emera Inc. 0.0%

Value ($000) $0 Shares 4,500 Est. Cost $43.35 Unrealized +11.4%

MA Mastercard Inc Class A 0.1%

Value ($000) $1 Shares 1,380 Est. Cost $277.68 Unrealized +101.3%

BMO Bank of Montreal 0.1%

Value ($000) $1 Shares 7,067 Est. Cost $78.25 Unrealized +61.8%

VCIT Vanguard Intermediate-Term Corp Bond Index Fund ETF 0.0%

Value ($000) $0 Shares 2,793 Est. Cost $0.08 Unrealized —

HEI HEICO Corporation 0.0%

Value ($000) $0 Shares 750 Est. Cost $243.50 Unrealized +29.8%

BND Vanguard Total Bond Market ETF 0.0%

Value ($000) $0 Shares 3,185 Est. Cost $86.03 Unrealized —

NVDA Nvidia Corp 0.0%

Value ($000) $0 Shares 2,300 Est. Cost $121.71 Unrealized +52.9%

BSV Vanguard Short-Term Bond Index Fund ETF 0.0%

Value ($000) $0 Shares 2,945 Est. Cost $82.17 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FSV	FirstService Corp	251,527	$39	2.9%	$92.67	+75.3%	CS	33767E202
LYV	Live Nation Entertainment Inc	315,844	$45	3.4%	$38.94	+269.0%	CS	538034109
TFII	TFI International Inc.	427,622	$44	3.3%	$34.60	+169.0%	CS	87241L109
GRMN	Garmin Ltd	155,478	$32	2.4%	$128.37	+68.8%	CS	H2906T109
WSO	Watsco Inc.	70,562	$24	1.8%	$310.37	+15.0%	CS	942622200
COST	Costco Wholesale Corporation	65,886	$57	4.3%	$294.37	+207.7%	CS	22160K105
CPRT	Copart Inc.	768,301	$30	2.3%	$35.48	+16.9%	CS	217204106
TSM	Taiwan Semiconductor Manufacturing Co	134,963	$41	3.1%	$0.23	—	CS	874039100
MCO	Moody's Corp	105,563	$54	4.1%	$131.64	+270.2%	CS	615369105
AMZN	Amazon.com Inc	239,521	$55	4.2%	$124.87	+83.2%	CS	023135106
SYK	Stryker Corp	113,014	$40	3.0%	$199.44	+82.2%	CS	863667101
CNQ	Canadian Natural Resources	1,026,851	$35	2.6%	$29.63	+9.4%	CS	136385101
QSR	Restaurant Brands International	350,091	$24	1.8%	$66.24	+4.0%	CS	76131D103
DPZ	Domino's Pizza, Inc.	80,381	$34	2.5%	$292.33	+42.1%	CS	25754A201
WCN	Waste Connections Inc C$	290,404	$51	3.8%	$61.01	+183.2%	CS	94106B101
BRK/B	Berkshire Hathaway B	87,416	$44	3.3%	$312.49	+59.2%	CS	084670702
TDG	TransDigm Group Inc	22,938	$31	2.3%	$1161.68	+12.8%	CS	893641100
TJX	TJX Companies Inc	11,080	$2	0.1%	$94.62	+56.1%	CS	872540109
CLS	Celestica Inc	1,500	$0	0.0%	$106.30	+183.5%	CS	15101Q207
ENB	Enbridge Inc.	8,400	$0	0.0%	$30.79	+53.0%	CS	29250N105
QQQ	Invesco QQQ Trust	1,080	$1	0.0%	$246.41	—	CS	46090E103
JPM	JP Morgan Chase & Co	1,562	$1	0.0%	$94.39	+227.9%	CS	46625H100
EMA	Emera Inc.	4,500	$0	0.0%	$43.35	+11.4%	CS	290876101
MA	Mastercard Inc Class A	1,380	$1	0.1%	$277.68	+101.3%	CS	57636Q104
BMO	Bank of Montreal	7,067	$1	0.1%	$78.25	+61.8%	CS	063671101
VCIT	Vanguard Intermediate-Term Corp Bond Index Fund ETF	2,793	$0	0.0%	$0.08	—	CS	92206C870
HEI	HEICO Corporation	750	$0	0.0%	$243.50	+29.8%	CS	422806109
BND	Vanguard Total Bond Market ETF	3,185	$0	0.0%	$86.03	—	CS	921937835
NVDA	Nvidia Corp	2,300	$0	0.0%	$121.71	+52.9%	CS	67066G104
BSV	Vanguard Short-Term Bond Index Fund ETF	2,945	$0	0.0%	$82.17	—	CS	921937827