BANK OF NOVA SCOTIA TRUST CO Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BGSI	BOYD GROUP SERVICES INC	12,389	$1,974	0.2%	$160.25	0.0%	COM	103310108
Q	QNITY ELECTRONICS INC	19,849	$1,621	0.1%	$84.91	0.0%	COMMON STOCK	74743L100
PANW	PALO ALTO NETWORKS INC	5,812	$1,071	0.1%	$201.75	0.0%	COM	697435105
UL	UNILEVER PLC	15,628	$1,022	0.1%	$65.40	—	SPON ADR NEW	904767803
CSCO	CISCO SYS INC	12,471	$961	0.1%	$73.79	0.0%	COM	17275R102
MGA	MAGNA INTL INC	10,847	$578	0.1%	$48.87	0.0%	COM	559222401
BDX	BECTON DICKINSON & CO	2,773	$538	0.0%	$189.55	0.0%	COM	075887109
MEOH	METHANEX CORP	13,212	$525	0.0%	$37.20	0.0%	COM	59151K108
BAC	BANK AMERICA CORP	9,259	$509	0.0%	$52.67	0.0%	COM	060505104
BSX	BOSTON SCIENTIFIC CORP	4,852	$463	0.0%	$98.04	0.0%	COM	101137107
IBKR	INTERACTIVE BROKERS GROUP IN	6,996	$450	0.0%	$66.89	0.0%	COM CL A	45841N107
AFG	AMERICAN FINL GROUP INC OHIO	2,818	$385	0.0%	$133.59	0.0%	COM	025932104
AME	AMETEK INC	1,771	$364	0.0%	$194.36	0.0%	COM	031100100
MNST	MONSTER BEVERAGE CORP NEW	4,670	$358	0.0%	$71.65	0.0%	COM	61174X109
IQV	IQVIA HLDGS INC	1,550	$349	0.0%	$217.58	0.0%	COM	46266C105
IEFA	ISHARES TR	3,900	$349	0.0%	$89.46	—	CORE MSCI EAFE	46432F842
ETR	ENTERGY CORP NEW	3,373	$312	0.0%	$94.54	0.0%	COM	29364G103
GWRE	GUIDEWIRE SOFTWARE INC	1,530	$308	0.0%	$221.19	0.0%	COM	40171V100
MRK	MERCK & CO INC	2,734	$288	0.0%	$93.24	0.0%	COM	58933Y105
PM	PHILIP MORRIS INTL INC	1,719	$276	0.0%	$153.57	0.0%	COM	718172109
CVX	CHEVRON CORP NEW	1,783	$272	0.0%	$151.40	0.0%	COM	166764100
AX	AXOS FINANCIAL INC	3,145	$271	0.0%	$82.36	0.0%	COM	05465C100
PEG	PUBLIC SVC ENTERPRISE GRP IN	3,318	$266	0.0%	$81.08	0.0%	COM	744573106
CNP	CENTERPOINT ENERGY INC	6,906	$265	0.0%	$38.86	0.0%	COM	15189T107
OZK	BANK OZK LITTLE ROCK ARK	5,569	$256	0.0%	$46.27	0.0%	COM	06417N103
CACC	CREDIT ACCEP CORP MICH	547	$243	0.0%	$463.55	0.0%	COM	225310101
SFBS	SERVISFIRST BANCSHARES INC	3,376	$242	0.0%	$72.99	0.0%	COM	81768T108
WFC	WELLS FARGO CO NEW	2,591	$241	0.0%	$86.63	0.0%	COM	949746101
JCI	JOHNSON CTLS INTL PLC	1,873	$224	0.0%	$114.81	0.0%	SHS	G51502105
CCL	CARNIVAL CORP	7,208	$220	0.0%	$27.88	0.0%	UNIT 99/99/9999	143658300
CDNS	CADENCE DESIGN SYSTEM INC	701	$219	0.0%	$326.31	0.0%	COM	127387108
CNXC	CONCENTRIX CORP	5,159	$215	0.0%	$40.10	0.0%	COM	20602D101
URI	UNITED RENTALS INC	258	$209	0.0%	$867.08	0.0%	COM	911363109
LCII	LCI INDS	1,702	$207	0.0%	$105.75	0.0%	COM	50189K103
COHR	COHERENT CORP	1,113	$205	0.0%	$149.58	0.0%	COM	19247G107
INTU	INTUIT	306	$203	0.0%	$660.69	0.0%	COM	461202103
COF	CAPITAL ONE FINL CORP	836	$203	0.0%	$222.19	0.0%	COM	14040H105
IYW	ISHARES TR	1,011	$202	0.0%	$199.68	—	U.S. TECH ETF	464287721
PCG	PG&E CORP	10,017	$161	0.0%	$15.92	0.0%	COM	69331C108
AVTR	AVANTOR INC	12,549	$144	0.0%	$12.31	0.0%	COM	05352A100

Increased Positions (60)

TD TORONTO DOMINION BK ONT 6.2%

Value ($000) $71,591 (+20.1%) Shares 759,986 (+1.9%) Est. Cost $45.81 Unrealized +84.3%

RCI ROGERS COMMUNICATIONS INC 0.8%

Value ($000) $8,761 (+674.7%) Shares 232,193 (+607.8%) Est. Cost $38.14 Unrealized -1.7%

TU TELUS CORPORATION 2.7%

Value ($000) $31,074 (-14.7%) Shares 2,359,479 (+2.2%) Est. Cost $18.00 Unrealized -21.8%

CNQ CANADIAN NAT RES LTD 2.6%

Value ($000) $29,971 (+18.7%) Shares 885,404 (+12.1%) Est. Cost $24.76 Unrealized +31.0%

QSR RESTAURANT BRANDS INTL INC 1.9%

Value ($000) $22,389 (+16.8%) Shares 328,140 (+9.8%) Est. Cost $59.91 Unrealized +15.0%

CNI CANADIAN NATL RY CO 2.5%

Value ($000) $28,940 (+12.1%) Shares 292,771 (+6.9%) Est. Cost $54.76 Unrealized +75.6%

BNS BANK NOVA SCOTIA HALIFAX 1.4%

Value ($000) $15,577 (+19.9%) Shares 211,386 (+5.1%) Est. Cost $34.12 Unrealized +99.2%

CAE CAE INC 0.3%

Value ($000) $3,577 (+214.4%) Shares 117,602 (+206.3%) Est. Cost $25.91 Unrealized +8.3%

MSFT MICROSOFT CORP 3.6%

Value ($000) $40,900 (-5.1%) Shares 84,570 (+1.6%) Est. Cost $55.33 Unrealized +804.8%

AMZN AMAZON COM INC 1.6%

Value ($000) $18,565 (+13.0%) Shares 80,429 (+7.5%) Est. Cost $135.29 Unrealized +69.1%

TRP TC ENERGY CORP 4.2%

Value ($000) $48,204 (+4.1%) Shares 876,271 (+3.0%) Est. Cost $36.21 Unrealized +47.3%

BN BROOKFIELD CORP 2.6%

Value ($000) $29,963 (+6.4%) Shares 652,930 (+59.1%) Est. Cost $31.03 Unrealized +46.8%

DHR DANAHER CORPORATION 1.0%

Value ($000) $11,284 (+19.0%) Shares 49,294 (+3.1%) Est. Cost $93.12 Unrealized +135.8%

AAPL APPLE INC 1.7%

Value ($000) $19,378 (+9.9%) Shares 71,278 (+2.9%) Est. Cost $116.30 Unrealized +130.7%

CM CANADIAN IMPERIAL BANK OF CO 0.8%

Value ($000) $9,601 (+21.4%) Shares 105,964 (+7.0%) Est. Cost $39.40 Unrealized +117.7%

PBA PEMBINA PIPELINE CORP 1.6%

Value ($000) $18,365 (+8.0%) Shares 482,533 (+14.9%) Est. Cost $34.37 Unrealized +11.9%

SHOP SHOPIFY INC 0.8%

Value ($000) $9,309 (+17.0%) Shares 57,828 (+8.0%) Est. Cost $59.58 Unrealized +169.5%

CP CANADIAN PACIFIC KANSAS CITY 2.0%

Value ($000) $22,609 (+5.8%) Shares 307,056 (+7.0%) Est. Cost $77.29 Unrealized -4.8%

GIB CGI INC 1.1%

Value ($000) $12,213 (+10.9%) Shares 132,319 (+7.1%) Est. Cost $73.29 Unrealized +21.4%

BIP BROOKFIELD INFRAST PARTNERS 0.2%

Value ($000) $2,618 (+62.1%) Shares 75,366 (+53.5%) Est. Cost $36.13 Unrealized —

MKC MCCORMICK & CO INC 0.3%

Value ($000) $3,256 (+33.1%) Shares 47,802 (+30.7%) Est. Cost $71.15 Unrealized -7.4%

SPY SPDR S&P 500 ETF TR 0.3%

Value ($000) $3,316 (+31.9%) Shares 4,863 (+28.9%) Est. Cost $317.53 Unrealized —

PLD PROLOGIS INC. 0.3%

Value ($000) $2,932 (+34.8%) Shares 22,964 (+20.9%) Est. Cost $111.51 Unrealized +11.1%

TFII TFI INTL INC 0.2%

Value ($000) $2,090 (+50.8%) Shares 20,223 (+28.5%) Est. Cost $122.50 Unrealized -24.0%

AVGO BROADCOM INC 0.1%

Value ($000) $1,553 (+73.0%) Shares 4,488 (+64.9%) Est. Cost $248.75 Unrealized +43.5%

WCN WASTE CONNECTIONS INC 1.8%

Value ($000) $20,203 (+3.0%) Shares 115,208 (+3.2%) Est. Cost $93.49 Unrealized +84.9%

FTV FORTIVE CORP 0.3%

Value ($000) $3,416 (+20.4%) Shares 61,866 (+6.8%) Est. Cost $43.89 Unrealized +18.2%

BMO BANK MONTREAL QUE 5.8%

Value ($000) $66,382 (+0.8%) Shares 511,456 (+1.2%) Est. Cost $50.99 Unrealized +148.4%

TJX TJX COS INC NEW 0.5%

Value ($000) $5,514 (+10.5%) Shares 35,899 (+4.0%) Est. Cost $68.63 Unrealized +115.2%

OTEX OPEN TEXT CORP 0.1%

Value ($000) $1,631 (+46.1%) Shares 50,069 (+67.7%) Est. Cost $33.52 Unrealized +5.7%

META META PLATFORMS INC 0.2%

Value ($000) $2,842 (+21.3%) Shares 4,306 (+34.9%) Est. Cost $436.05 Unrealized +53.0%

GIL GILDAN ACTIVEWEAR INC 0.1%

Value ($000) $983 (+96.5%) Shares 15,732 (+81.9%) Est. Cost $48.50 Unrealized +22.6%

MDT MEDTRONIC PLC 1.0%

Value ($000) $11,050 (+3.9%) Shares 115,036 (+3.0%) Est. Cost $71.89 Unrealized +35.1%

ABT ABBOTT LABS 0.5%

Value ($000) $5,772 (+7.5%) Shares 46,070 (+14.9%) Est. Cost $114.00 Unrealized +11.7%

DOO BRP INC 0.1%

Value ($000) $1,240 (+46.3%) Shares 17,521 (+25.7%) Est. Cost $48.76 Unrealized +39.3%

PGR PROGRESSIVE CORP 0.1%

Value ($000) $1,525 (+34.1%) Shares 6,699 (+45.5%) Est. Cost $225.65 Unrealized -5.9%

XOM EXXON MOBIL CORP 0.3%

Value ($000) $3,756 (+11.4%) Shares 31,214 (+4.3%) Est. Cost $99.53 Unrealized +16.0%

UNH UNITEDHEALTH GROUP INC 0.4%

Value ($000) $4,344 (+9.2%) Shares 13,159 (+14.2%) Est. Cost $359.72 Unrealized -6.3%

FNV FRANCO NEV CORP 1.4%

Value ($000) $16,210 (-2.2%) Shares 78,202 (+5.2%) Est. Cost $87.41 Unrealized +132.0%

CME CME GROUP INC 0.7%

Value ($000) $7,593 (+4.0%) Shares 27,805 (+2.9%) Est. Cost $194.61 Unrealized +39.1%

BRK/B BERKSHIRE HATHAWAY INC DEL 0.2%

Value ($000) $1,855 (+17.3%) Shares 3,691 (+17.3%) Est. Cost $309.05 Unrealized +61.0%

CIGI COLLIERS INTL GROUP INC 0.2%

Value ($000) $2,123 (+13.4%) Shares 14,439 (+20.5%) Est. Cost $110.16 Unrealized +36.3%

HON HONEYWELL INTL INC 0.4%

Value ($000) $4,752 (+4.3%) Shares 24,358 (+12.6%) Est. Cost $121.48 Unrealized +60.5%

RTX RTX CORPORATION 0.1%

Value ($000) $1,425 (+15.6%) Shares 7,770 (+5.4%) Est. Cost $67.40 Unrealized +157.2%

ATS ATS CORPORATION 0.1%

Value ($000) $840 (+27.9%) Shares 30,514 (+21.7%) Est. Cost $28.44 Unrealized -6.1%

ORCL ORACLE CORP 0.2%

Value ($000) $1,783 (-8.8%) Shares 9,150 (+31.6%) Est. Cost $107.60 Unrealized +121.2%

RBA RB GLOBAL INC 0.6%

Value ($000) $7,164 (-2.2%) Shares 69,638 (+3.0%) Est. Cost $65.62 Unrealized +54.8%

CMCSA COMCAST CORP NEW 0.4%

Value ($000) $4,205 (-3.4%) Shares 140,673 (+1.6%) Est. Cost $25.97 Unrealized +9.9%

CVE CENOVUS ENERGY INC 0.0%

Value ($000) $377 (+48.9%) Shares 22,287 (+49.5%) Est. Cost $16.82 Unrealized +3.2%

ELV ELEVANCE HEALTH INC FORMERLY 0.0%

Value ($000) $342 (+36.2%) Shares 977 (+25.6%) Est. Cost $313.96 Unrealized +7.2%

UBER UBER TECHNOLOGIES INC 0.0%

Value ($000) $461 (+22.7%) Shares 5,646 (+47.1%) Est. Cost $92.41 Unrealized -2.6%

DIS DISNEY WALT CO 0.5%

Value ($000) $5,954 (+1.3%) Shares 52,335 (+2.0%) Est. Cost $104.18 Unrealized +5.1%

WFG WEST FRASER TIMBER CO LTD 0.1%

Value ($000) $656 (-7.9%) Shares 10,728 (+2.5%) Est. Cost $74.12 Unrealized -15.6%

LIN LINDE PLC 0.6%

Value ($000) $6,909 (+0.5%) Shares 16,204 (+12.0%) Est. Cost $356.70 Unrealized +19.8%

NVDA NVIDIA CORPORATION 0.3%

Value ($000) $3,692 (+1.0%) Shares 19,797 (+1.0%) Est. Cost $112.18 Unrealized +65.9%

SHW SHERWIN WILLIAMS CO 0.2%

Value ($000) $2,147 (-0.9%) Shares 6,625 (+5.9%) Est. Cost $286.96 Unrealized +16.4%

FSV FIRSTSERVICE CORP NEW 0.1%

Value ($000) $1,475 (+1.3%) Shares 9,484 (+24.1%) Est. Cost $142.71 Unrealized +13.8%

BKNG BOOKING HOLDINGS INC 0.1%

Value ($000) $643 (+0.9%) Shares 120 (+1.7%) Est. Cost $3029.24 Unrealized +69.6%

ICE INTERCONTINENTAL EXCHANGE IN 0.0%

Value ($000) $259 (+1.3%) Shares 1,598 (+5.4%) Est. Cost $108.40 Unrealized +44.1%

BAH BOOZ ALLEN HAMILTON HLDG COR 0.0%

Value ($000) $214 (+0.5%) Shares 2,534 (+19.0%) Est. Cost $102.49 Unrealized -13.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TD	TORONTO DOMINION BK ONT	759,986 (+1.9%)	$71,591 (+20.1%)	6.2%	$45.81	+84.3%	COM NEW	891160509
RCI	ROGERS COMMUNICATIONS INC	232,193 (+607.8%)	$8,761 (+674.7%)	0.8%	$38.14	-1.7%	CL B	775109200
TU	TELUS CORPORATION	2,359,479 (+2.2%)	$31,074 (-14.7%)	2.7%	$18.00	-21.8%	COM	87971M103
CNQ	CANADIAN NAT RES LTD	885,404 (+12.1%)	$29,971 (+18.7%)	2.6%	$24.76	+31.0%	COM	136385101
QSR	RESTAURANT BRANDS INTL INC	328,140 (+9.8%)	$22,389 (+16.8%)	1.9%	$59.91	+15.0%	COM	76131D103
CNI	CANADIAN NATL RY CO	292,771 (+6.9%)	$28,940 (+12.1%)	2.5%	$54.76	+75.6%	COM	136375102
BNS	BANK NOVA SCOTIA HALIFAX	211,386 (+5.1%)	$15,577 (+19.9%)	1.4%	$34.12	+99.2%	COM	064149107
CAE	CAE INC	117,602 (+206.3%)	$3,577 (+214.4%)	0.3%	$25.91	+8.3%	COM	124765108
MSFT	MICROSOFT CORP	84,570 (+1.6%)	$40,900 (-5.1%)	3.6%	$55.33	+804.8%	COM	594918104
AMZN	AMAZON COM INC	80,429 (+7.5%)	$18,565 (+13.0%)	1.6%	$135.29	+69.1%	COM	023135106
TRP	TC ENERGY CORP	876,271 (+3.0%)	$48,204 (+4.1%)	4.2%	$36.21	+47.3%	COM	87807B107
BN	BROOKFIELD CORP	652,930 (+59.1%)	$29,963 (+6.4%)	2.6%	$31.03	+46.8%	CL A LTD VT SH	11271J107
DHR	DANAHER CORPORATION	49,294 (+3.1%)	$11,284 (+19.0%)	1.0%	$93.12	+135.8%	COM	235851102
AAPL	APPLE INC	71,278 (+2.9%)	$19,378 (+9.9%)	1.7%	$116.30	+130.7%	COM	037833100
CM	CANADIAN IMPERIAL BANK OF CO	105,964 (+7.0%)	$9,601 (+21.4%)	0.8%	$39.40	+117.7%	COM	136069101
PBA	PEMBINA PIPELINE CORP	482,533 (+14.9%)	$18,365 (+8.0%)	1.6%	$34.37	+11.9%	COM	706327103
SHOP	SHOPIFY INC	57,828 (+8.0%)	$9,309 (+17.0%)	0.8%	$59.58	+169.5%	CL A SUB VTG SHS	82509L107
CP	CANADIAN PACIFIC KANSAS CITY	307,056 (+7.0%)	$22,609 (+5.8%)	2.0%	$77.29	-4.8%	COM	13646K108
GIB	CGI INC	132,319 (+7.1%)	$12,213 (+10.9%)	1.1%	$73.29	+21.4%	CL A SUB VTG	12532H104
BIP	BROOKFIELD INFRAST PARTNERS	75,366 (+53.5%)	$2,618 (+62.1%)	0.2%	$36.13	—	LP INT UNIT	G16252101
MKC	MCCORMICK & CO INC	47,802 (+30.7%)	$3,256 (+33.1%)	0.3%	$71.15	-7.4%	COM NON VTG	579780206
SPY	SPDR S&P 500 ETF TR	4,863 (+28.9%)	$3,316 (+31.9%)	0.3%	$317.53	—	TR UNIT	78462F103
PLD	PROLOGIS INC.	22,964 (+20.9%)	$2,932 (+34.8%)	0.3%	$111.51	+11.1%	COM	74340W103
TFII	TFI INTL INC	20,223 (+28.5%)	$2,090 (+50.8%)	0.2%	$122.50	-24.0%	COM	87241L109
AVGO	BROADCOM INC	4,488 (+64.9%)	$1,553 (+73.0%)	0.1%	$248.75	+43.5%	COM	11135F101
WCN	WASTE CONNECTIONS INC	115,208 (+3.2%)	$20,203 (+3.0%)	1.8%	$93.49	+84.9%	COM	94106B101
FTV	FORTIVE CORP	61,866 (+6.8%)	$3,416 (+20.4%)	0.3%	$43.89	+18.2%	COM	34959J108
BMO	BANK MONTREAL QUE	511,456 (+1.2%)	$66,382 (+0.8%)	5.8%	$50.99	+148.4%	COM	063671101
TJX	TJX COS INC NEW	35,899 (+4.0%)	$5,514 (+10.5%)	0.5%	$68.63	+115.2%	COM	872540109
OTEX	OPEN TEXT CORP	50,069 (+67.7%)	$1,631 (+46.1%)	0.1%	$33.52	+5.7%	COM	683715106
META	META PLATFORMS INC	4,306 (+34.9%)	$2,842 (+21.3%)	0.2%	$436.05	+53.0%	CL A	30303M102
GIL	GILDAN ACTIVEWEAR INC	15,732 (+81.9%)	$983 (+96.5%)	0.1%	$48.50	+22.6%	COM	375916103
MDT	MEDTRONIC PLC	115,036 (+3.0%)	$11,050 (+3.9%)	1.0%	$71.89	+35.1%	SHS	G5960L103
ABT	ABBOTT LABS	46,070 (+14.9%)	$5,772 (+7.5%)	0.5%	$114.00	+11.7%	COM	002824100
DOO	BRP INC	17,521 (+25.7%)	$1,240 (+46.3%)	0.1%	$48.76	+39.3%	COM SUN VTG	05577W200
PGR	PROGRESSIVE CORP	6,699 (+45.5%)	$1,525 (+34.1%)	0.1%	$225.65	-5.9%	COM	743315103
XOM	EXXON MOBIL CORP	31,214 (+4.3%)	$3,756 (+11.4%)	0.3%	$99.53	+16.0%	COM	30231G102
UNH	UNITEDHEALTH GROUP INC	13,159 (+14.2%)	$4,344 (+9.2%)	0.4%	$359.72	-6.3%	COM	91324P102
FNV	FRANCO NEV CORP	78,202 (+5.2%)	$16,210 (-2.2%)	1.4%	$87.41	+132.0%	COM	351858105
CME	CME GROUP INC	27,805 (+2.9%)	$7,593 (+4.0%)	0.7%	$194.61	+39.1%	COM	12572Q105
BRK/B	BERKSHIRE HATHAWAY INC DEL	3,691 (+17.3%)	$1,855 (+17.3%)	0.2%	$309.05	+61.0%	CL B NEW	084670702
CIGI	COLLIERS INTL GROUP INC	14,439 (+20.5%)	$2,123 (+13.4%)	0.2%	$110.16	+36.3%	SUB VTG SHS	194693107
HON	HONEYWELL INTL INC	24,358 (+12.6%)	$4,752 (+4.3%)	0.4%	$121.48	+60.5%	COM	438516106
RTX	RTX CORPORATION	7,770 (+5.4%)	$1,425 (+15.6%)	0.1%	$67.40	+157.2%	COM	75513E101
ATS	ATS CORPORATION	30,514 (+21.7%)	$840 (+27.9%)	0.1%	$28.44	-6.1%	COM	00217Y104
ORCL	ORACLE CORP	9,150 (+31.6%)	$1,783 (-8.8%)	0.2%	$107.60	+121.2%	COM	68389X105
RBA	RB GLOBAL INC	69,638 (+3.0%)	$7,164 (-2.2%)	0.6%	$65.62	+54.8%	COM	74935Q107
CMCSA	COMCAST CORP NEW	140,673 (+1.6%)	$4,205 (-3.4%)	0.4%	$25.97	+9.9%	CL A	20030N101
CVE	CENOVUS ENERGY INC	22,287 (+49.5%)	$377 (+48.9%)	0.0%	$16.82	+3.2%	COM	15135U109
ELV	ELEVANCE HEALTH INC FORMERLY	977 (+25.6%)	$342 (+36.2%)	0.0%	$313.96	+7.2%	COM	036752103
UBER	UBER TECHNOLOGIES INC	5,646 (+47.1%)	$461 (+22.7%)	0.0%	$92.41	-2.6%	COM	90353T100
DIS	DISNEY WALT CO	52,335 (+2.0%)	$5,954 (+1.3%)	0.5%	$104.18	+5.1%	COM	254687106
WFG	WEST FRASER TIMBER CO LTD	10,728 (+2.5%)	$656 (-7.9%)	0.1%	$74.12	-15.6%	COM	952845105
LIN	LINDE PLC	16,204 (+12.0%)	$6,909 (+0.5%)	0.6%	$356.70	+19.8%	SHS	G54950103
NVDA	NVIDIA CORPORATION	19,797 (+1.0%)	$3,692 (+1.0%)	0.3%	$112.18	+65.9%	COM	67066G104
SHW	SHERWIN WILLIAMS CO	6,625 (+5.9%)	$2,147 (-0.9%)	0.2%	$286.96	+16.4%	COM	824348106
FSV	FIRSTSERVICE CORP NEW	9,484 (+24.1%)	$1,475 (+1.3%)	0.1%	$142.71	+13.8%	COM	33767E202
BKNG	BOOKING HOLDINGS INC	120 (+1.7%)	$643 (+0.9%)	0.1%	$3029.24	+69.6%	COM	09857L108
ICE	INTERCONTINENTAL EXCHANGE IN	1,598 (+5.4%)	$259 (+1.3%)	0.0%	$108.40	+44.1%	COM	45866F104
BAH	BOOZ ALLEN HAMILTON HLDG COR	2,534 (+19.0%)	$214 (+0.5%)	0.0%	$102.49	-13.6%	CL A	099502106

Exited Positions (6)

— UNILEVER PLC 0.1%

Value ($000) $940 Shares 15,850 Est. Cost $57.68 Unrealized —

HWM HOWMET AEROSPACE INC 0.0%

Value ($000) $354 Shares 1,805 Est. Cost $182.11 Unrealized +9.3%

ZTS ZOETIS INC 0.0%

Value ($000) $250 Shares 1,707 Est. Cost $165.70 Unrealized -21.4%

DHI D R HORTON INC 0.0%

Value ($000) $235 Shares 1,384 Est. Cost $156.63 Unrealized -2.9%

FISV FISERV INC 0.0%

Value ($000) $207 Shares 1,604 Est. Cost $143.31 Unrealized -41.5%

BX BLACKSTONE INC 0.0%

Value ($000) $204 Shares 1,195 Est. Cost $169.47 Unrealized -10.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	UNILEVER PLC	15,850	$940	0.1%	$57.68	—	—	904767704
HWM	HOWMET AEROSPACE INC	1,805	$354	0.0%	$182.11	+9.3%	—	443201108
ZTS	ZOETIS INC	1,707	$250	0.0%	$165.70	-21.4%	—	98978V103
DHI	D R HORTON INC	1,384	$235	0.0%	$156.63	-2.9%	—	23331A109
FISV	FISERV INC	1,604	$207	0.0%	$143.31	-41.5%	—	337738108
BX	BLACKSTONE INC	1,195	$204	0.0%	$169.47	-10.6%	—	09260D107

Decreased Positions (37)

GOOGL ALPHABET INC 2.7%

Value ($000) $30,729 (+26.6%) Shares 98,176 (-1.7%) Est. Cost $111.73 Unrealized +155.6%

BEP BROOKFIELD RENEWABLE PARTNER 0.0%

Value ($000) $289 (-95.0%) Shares 10,705 (-95.2%) Est. Cost $27.17 Unrealized —

SU SUNCOR ENERGY INC NEW 1.4%

Value ($000) $16,658 (-23.4%) Shares 375,512 (-27.8%) Est. Cost $22.51 Unrealized +87.8%

DSGX DESCARTES SYS GROUP INC 0.2%

Value ($000) $2,151 (-55.9%) Shares 24,542 (-52.6%) Est. Cost $67.79 Unrealized +31.9%

NKE NIKE INC 0.1%

Value ($000) $1,018 (-72.8%) Shares 15,972 (-70.2%) Est. Cost $61.89 Unrealized +4.9%

BCE BCE INC 0.4%

Value ($000) $4,504 (-36.5%) Shares 189,079 (-37.6%) Est. Cost $25.86 Unrealized -10.9%

DD DUPONT DE NEMOURS INC 0.0%

Value ($000) $571 (-79.5%) Shares 14,216 (-60.3%) Est. Cost $25.92 Unrealized +44.2%

TRI THOMSON REUTERS CORP 0.5%

Value ($000) $6,002 (-25.4%) Shares 45,505 (-12.1%) Est. Cost $122.38 Unrealized +15.3%

STN STANTEC INC 0.3%

Value ($000) $3,771 (-28.2%) Shares 39,964 (-18.0%) Est. Cost $45.78 Unrealized —

GOOG ALPHABET INC 0.5%

Value ($000) $6,272 (+24.4%) Shares 19,987 (-3.5%) Est. Cost $109.62 Unrealized +161.2%

PEP PEPSICO INC 0.0%

Value ($000) $293 (-73.1%) Shares 2,045 (-73.6%) Est. Cost $122.27 Unrealized +19.3%

HD HOME DEPOT INC 0.3%

Value ($000) $3,458 (-16.1%) Shares 10,048 (-1.2%) Est. Cost $234.02 Unrealized +55.8%

TMO THERMO FISHER SCIENTIFIC INC 0.1%

Value ($000) $1,670 (+17.9%) Shares 2,882 (-1.3%) Est. Cost $525.18 Unrealized +7.6%

ADBE ADOBE INC 0.1%

Value ($000) $655 (-26.7%) Shares 1,872 (-26.1%) Est. Cost $522.41 Unrealized -34.9%

MA MASTERCARD INCORPORATED 1.0%

Value ($000) $11,541 (-1.9%) Shares 20,216 (-2.3%) Est. Cost $106.14 Unrealized +426.6%

MDLZ MONDELEZ INTL INC 0.0%

Value ($000) $439 (-29.1%) Shares 8,157 (-17.8%) Est. Cost $56.27 Unrealized +1.4%

FTS FORTIS INC 1.8%

Value ($000) $20,339 (+0.8%) Shares 391,593 (-1.5%) Est. Cost $28.22 Unrealized +80.1%

BLK BLACKROCK INC 0.1%

Value ($000) $1,035 (-13.2%) Shares 967 (-5.5%) Est. Cost $998.90 Unrealized +9.1%

TECK TECK RESOURCES LTD 0.2%

Value ($000) $2,180 (-5.6%) Shares 45,524 (-13.5%) Est. Cost $34.93 Unrealized +24.0%

WPM WHEATON PRECIOUS METALS CORP 0.2%

Value ($000) $2,841 (+4.0%) Shares 24,171 (-1.1%) Est. Cost $61.10 Unrealized +75.2%

MS MORGAN STANLEY 0.0%

Value ($000) $505 (-17.1%) Shares 2,844 (-25.7%) Est. Cost $38.04 Unrealized +337.6%

WM WASTE MGMT INC DEL 0.1%

Value ($000) $1,120 (-8.0%) Shares 5,097 (-7.6%) Est. Cost $141.95 Unrealized +49.7%

PG PROCTER AND GAMBLE CO 0.1%

Value ($000) $872 (-7.8%) Shares 6,082 (-1.1%) Est. Cost $123.39 Unrealized +19.3%

BAM BROOKFIELD ASSET MANAGMT LTD 0.0%

Value ($000) $268 (-19.7%) Shares 5,107 (-12.7%) Est. Cost $30.46 Unrealized +75.6%

CCJ CAMECO CORP 0.1%

Value ($000) $952 (+6.9%) Shares 10,407 (-2.0%) Est. Cost $44.15 Unrealized +103.7%

WMT WALMART INC 0.2%

Value ($000) $1,944 (+2.4%) Shares 17,451 (-5.3%) Est. Cost $82.80 Unrealized +29.5%

TSM TAIWAN SEMICONDUCTOR MFG LTD 0.0%

Value ($000) $561 (+5.5%) Shares 1,846 (-3.0%) Est. Cost $120.68 Unrealized —

ACN ACCENTURE PLC IRELAND 0.2%

Value ($000) $2,424 (-1.1%) Shares 9,033 (-9.1%) Est. Cost $241.67 Unrealized +5.1%

BIPC BROOKFIELD INFRASTRUCTURE CO 0.1%

Value ($000) $1,149 (+2.3%) Shares 25,301 (-7.3%) Est. Cost $40.07 Unrealized +12.4%

MCD MCDONALDS CORP 0.2%

Value ($000) $1,961 (-1.0%) Shares 6,416 (-1.6%) Est. Cost $215.37 Unrealized +41.7%

BEPC BROOKFIELD RENEWABLE CORP 0.0%

Value ($000) $356 (-4.8%) Shares 9,279 (-14.5%) Est. Cost $30.54 Unrealized +31.0%

YUMC YUM CHINA HLDGS INC 0.0%

Value ($000) $277 (+6.2%) Shares 5,811 (-4.5%) Est. Cost $33.29 Unrealized +37.6%

GRTUF GRANITE REAL ESTATE INVT TR 0.0%

Value ($000) $471 (+3.4%) Shares 7,963 (-2.6%) Est. Cost $48.43 Unrealized —

PFE PFIZER INC 0.0%

Value ($000) $202 (-5.8%) Shares 8,114 (-3.6%) Est. Cost $25.83 Unrealized -3.1%

CL COLGATE PALMOLIVE CO 0.0%

Value ($000) $206 (-5.6%) Shares 2,611 (-4.5%) Est. Cost $71.73 Unrealized +9.2%

ASML ASML HOLDING N V 0.0%

Value ($000) $214 (-3.9%) Shares 200 (-13.0%) Est. Cost $968.09 Unrealized —

AQN ALGONQUIN PWR UTILS CORP 0.0%

Value ($000) $138 (+5.2%) Shares 22,500 (-8.2%) Est. Cost $8.73 Unrealized -31.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	98,176 (-1.7%)	$30,729 (+26.6%)	2.7%	$111.73	+155.6%	CAP STK CL A	02079K305
BEP	BROOKFIELD RENEWABLE PARTNER	10,705 (-95.2%)	$289 (-95.0%)	0.0%	$27.17	—	PARTNERSHIP UNIT	G16258108
SU	SUNCOR ENERGY INC NEW	375,512 (-27.8%)	$16,658 (-23.4%)	1.4%	$22.51	+87.8%	COM	867224107
DSGX	DESCARTES SYS GROUP INC	24,542 (-52.6%)	$2,151 (-55.9%)	0.2%	$67.79	+31.9%	COM	249906108
NKE	NIKE INC	15,972 (-70.2%)	$1,018 (-72.8%)	0.1%	$61.89	+4.9%	CL B	654106103
BCE	BCE INC	189,079 (-37.6%)	$4,504 (-36.5%)	0.4%	$25.86	-10.9%	COM NEW	05534B760
DD	DUPONT DE NEMOURS INC	14,216 (-60.3%)	$571 (-79.5%)	0.0%	$25.92	+44.2%	COM	26614N102
TRI	THOMSON REUTERS CORP	45,505 (-12.1%)	$6,002 (-25.4%)	0.5%	$122.38	+15.3%	COM	884903808
STN	STANTEC INC	39,964 (-18.0%)	$3,771 (-28.2%)	0.3%	$45.78	—	COM	85472N109
GOOG	ALPHABET INC	19,987 (-3.5%)	$6,272 (+24.4%)	0.5%	$109.62	+161.2%	CAP STK CL C	02079K107
PEP	PEPSICO INC	2,045 (-73.6%)	$293 (-73.1%)	0.0%	$122.27	+19.3%	COM	713448108
HD	HOME DEPOT INC	10,048 (-1.2%)	$3,458 (-16.1%)	0.3%	$234.02	+55.8%	COM	437076102
TMO	THERMO FISHER SCIENTIFIC INC	2,882 (-1.3%)	$1,670 (+17.9%)	0.1%	$525.18	+7.6%	COM	883556102
ADBE	ADOBE INC	1,872 (-26.1%)	$655 (-26.7%)	0.1%	$522.41	-34.9%	COM	00724F101
MA	MASTERCARD INCORPORATED	20,216 (-2.3%)	$11,541 (-1.9%)	1.0%	$106.14	+426.6%	CL A	57636Q104
MDLZ	MONDELEZ INTL INC	8,157 (-17.8%)	$439 (-29.1%)	0.0%	$56.27	+1.4%	CL A	609207105
FTS	FORTIS INC	391,593 (-1.5%)	$20,339 (+0.8%)	1.8%	$28.22	+80.1%	COM	349553107
BLK	BLACKROCK INC	967 (-5.5%)	$1,035 (-13.2%)	0.1%	$998.90	+9.1%	COM	09290D101
TECK	TECK RESOURCES LTD	45,524 (-13.5%)	$2,180 (-5.6%)	0.2%	$34.93	+24.0%	CL B	878742204
WPM	WHEATON PRECIOUS METALS CORP	24,171 (-1.1%)	$2,841 (+4.0%)	0.2%	$61.10	+75.2%	COM	962879102
MS	MORGAN STANLEY	2,844 (-25.7%)	$505 (-17.1%)	0.0%	$38.04	+337.6%	COM NEW	617446448
WM	WASTE MGMT INC DEL	5,097 (-7.6%)	$1,120 (-8.0%)	0.1%	$141.95	+49.7%	COM	94106L109
PG	PROCTER AND GAMBLE CO	6,082 (-1.1%)	$872 (-7.8%)	0.1%	$123.39	+19.3%	COM	742718109
BAM	BROOKFIELD ASSET MANAGMT LTD	5,107 (-12.7%)	$268 (-19.7%)	0.0%	$30.46	+75.6%	CL A LMT VTG SHS	113004105
CCJ	CAMECO CORP	10,407 (-2.0%)	$952 (+6.9%)	0.1%	$44.15	+103.7%	COM	13321L108
WMT	WALMART INC	17,451 (-5.3%)	$1,944 (+2.4%)	0.2%	$82.80	+29.5%	COM	931142103
TSM	TAIWAN SEMICONDUCTOR MFG LTD	1,846 (-3.0%)	$561 (+5.5%)	0.0%	$120.68	—	SPONSORED ADS	874039100
ACN	ACCENTURE PLC IRELAND	9,033 (-9.1%)	$2,424 (-1.1%)	0.2%	$241.67	+5.1%	SHS CLASS A	G1151C101
BIPC	BROOKFIELD INFRASTRUCTURE CO	25,301 (-7.3%)	$1,149 (+2.3%)	0.1%	$40.07	+12.4%	COM SUB VTG A	11276H106
MCD	MCDONALDS CORP	6,416 (-1.6%)	$1,961 (-1.0%)	0.2%	$215.37	+41.7%	COM	580135101
BEPC	BROOKFIELD RENEWABLE CORP	9,279 (-14.5%)	$356 (-4.8%)	0.0%	$30.54	+31.0%	CL A EX SUB VTG	11285B108
YUMC	YUM CHINA HLDGS INC	5,811 (-4.5%)	$277 (+6.2%)	0.0%	$33.29	+37.6%	COM	98850P109
GRTUF	GRANITE REAL ESTATE INVT TR	7,963 (-2.6%)	$471 (+3.4%)	0.0%	$48.43	—	TR UNIT NEW	387437205
PFE	PFIZER INC	8,114 (-3.6%)	$202 (-5.8%)	0.0%	$25.83	-3.1%	COM	717081103
CL	COLGATE PALMOLIVE CO	2,611 (-4.5%)	$206 (-5.6%)	0.0%	$71.73	+9.2%	COM	194162103
ASML	ASML HOLDING N V	200 (-13.0%)	$214 (-3.9%)	0.0%	$968.09	—	N Y REGISTRY SHS	N07059210
AQN	ALGONQUIN PWR UTILS CORP	22,500 (-8.2%)	$138 (+5.2%)	0.0%	$8.73	-31.9%	COM	015857105

Unchanged Positions (27)

RY ROYAL BK CDA 9.3%

Value ($000) $107,202 Shares 628,786 Est. Cost $61.87 Unrealized +148.2%

MFC MANULIFE FINL CORP 2.5%

Value ($000) $28,986 Shares 798,952 Est. Cost $16.12 Unrealized +110.6%

ENB ENBRIDGE INC 4.1%

Value ($000) $47,546 Shares 994,053 Est. Cost $24.55 Unrealized +91.9%

JNJ JOHNSON & JOHNSON 1.5%

Value ($000) $17,399 Shares 84,072 Est. Cost $79.96 Unrealized +146.4%

COST COSTCO WHSL CORP NEW 1.4%

Value ($000) $16,216 Shares 18,805 Est. Cost $150.82 Unrealized +500.5%

CRM SALESFORCE INC 0.8%

Value ($000) $9,167 Shares 34,603 Est. Cost $235.40 Unrealized +5.4%

SLF SUN LIFE FINANCIAL INC. 1.7%

Value ($000) $19,360 Shares 310,263 Est. Cost $42.97 Unrealized +40.6%

NTR NUTRIEN LTD 1.2%

Value ($000) $13,745 Shares 222,701 Est. Cost $39.90 Unrealized +47.5%

V VISA INC 1.6%

Value ($000) $18,851 Shares 53,751 Est. Cost $84.76 Unrealized +301.6%

TEL TE CONNECTIVITY PLC 1.3%

Value ($000) $14,461 Shares 63,562 Est. Cost $147.38 Unrealized +56.9%

JPM JPMORGAN CHASE & CO. 1.8%

Value ($000) $20,465 Shares 63,514 Est. Cost $105.03 Unrealized +194.7%

KGC KINROSS GOLD CORP 0.1%

Value ($000) $1,719 Shares 61,046 Est. Cost $6.03 Unrealized +330.9%

LLY ELI LILLY & CO 0.0%

Value ($000) $480 Shares 447 Est. Cost $826.69 Unrealized +15.6%

EMR EMERSON ELEC CO 0.5%

Value ($000) $5,883 Shares 44,325 Est. Cost $117.42 Unrealized +12.7%

EMA EMERA INC 0.3%

Value ($000) $3,317 Shares 67,373 Est. Cost $43.41 Unrealized +11.3%

VLO VALERO ENERGY CORP 0.1%

Value ($000) $1,425 Shares 8,756 Est. Cost $89.37 Unrealized +88.9%

TXN TEXAS INSTRS INC 0.1%

Value ($000) $708 Shares 4,081 Est. Cost $157.77 Unrealized +8.2%

SYK STRYKER CORPORATION 0.1%

Value ($000) $755 Shares 2,147 Est. Cost $250.68 Unrealized +45.0%

AEM AGNICO EAGLE MINES LTD 0.3%

Value ($000) $3,994 Shares 23,559 Est. Cost $62.76 Unrealized +167.4%

ECL ECOLAB INC 0.1%

Value ($000) $761 Shares 2,900 Est. Cost $176.34 Unrealized +50.7%

WRB BERKLEY W R CORP 0.0%

Value ($000) $311 Shares 4,437 Est. Cost $70.00 Unrealized +3.9%

KO COCA COLA CO 0.0%

Value ($000) $546 Shares 7,816 Est. Cost $35.04 Unrealized +98.1%

HCA HCA HEALTHCARE INC 0.0%

Value ($000) $313 Shares 671 Est. Cost $386.45 Unrealized +20.0%

SOBO SOUTH BOW CORP 0.1%

Value ($000) $648 Shares 23,600 Est. Cost $22.97 Unrealized +18.3%

BB BLACKBERRY LTD 0.0%

Value ($000) $61 Shares 16,000 Est. Cost $4.47 Unrealized -1.7%

VXUS VANGUARD STAR FDS 0.0%

Value ($000) $226 Shares 3,000 Est. Cost $69.09 Unrealized —

VET VERMILION ENERGY INC 0.0%

Value ($000) $83 Shares 10,000 Est. Cost $13.68 Unrealized -39.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RY	ROYAL BK CDA	628,786	$107,202	9.3%	$61.87	+148.2%	COM	780087102
MFC	MANULIFE FINL CORP	798,952	$28,986	2.5%	$16.12	+110.6%	COM	56501R106
ENB	ENBRIDGE INC	994,053	$47,546	4.1%	$24.55	+91.9%	COM	29250N105
JNJ	JOHNSON & JOHNSON	84,072	$17,399	1.5%	$79.96	+146.4%	COM	478160104
COST	COSTCO WHSL CORP NEW	18,805	$16,216	1.4%	$150.82	+500.5%	COM	22160K105
CRM	SALESFORCE INC	34,603	$9,167	0.8%	$235.40	+5.4%	COM	79466L302
SLF	SUN LIFE FINANCIAL INC.	310,263	$19,360	1.7%	$42.97	+40.6%	COM	866796105
NTR	NUTRIEN LTD	222,701	$13,745	1.2%	$39.90	+47.5%	COM	67077M108
V	VISA INC	53,751	$18,851	1.6%	$84.76	+301.6%	COM CL A	92826C839
TEL	TE CONNECTIVITY PLC	63,562	$14,461	1.3%	$147.38	+56.9%	ORD SHS	G87052109
JPM	JPMORGAN CHASE & CO.	63,514	$20,465	1.8%	$105.03	+194.7%	COM	46625H100
KGC	KINROSS GOLD CORP	61,046	$1,719	0.1%	$6.03	+330.9%	COM	496902404
LLY	ELI LILLY & CO	447	$480	0.0%	$826.69	+15.6%	COM	532457108
EMR	EMERSON ELEC CO	44,325	$5,883	0.5%	$117.42	+12.7%	COM	291011104
EMA	EMERA INC	67,373	$3,317	0.3%	$43.41	+11.3%	COM	290876101
VLO	VALERO ENERGY CORP	8,756	$1,425	0.1%	$89.37	+88.9%	COM	91913Y100
TXN	TEXAS INSTRS INC	4,081	$708	0.1%	$157.77	+8.2%	COM	882508104
SYK	STRYKER CORPORATION	2,147	$755	0.1%	$250.68	+45.0%	COM	863667101
AEM	AGNICO EAGLE MINES LTD	23,559	$3,994	0.3%	$62.76	+167.4%	COM	008474108
ECL	ECOLAB INC	2,900	$761	0.1%	$176.34	+50.7%	COM	278865100
WRB	BERKLEY W R CORP	4,437	$311	0.0%	$70.00	+3.9%	COM	084423102
KO	COCA COLA CO	7,816	$546	0.0%	$35.04	+98.1%	COM	191216100
HCA	HCA HEALTHCARE INC	671	$313	0.0%	$386.45	+20.0%	COM	40412C101
SOBO	SOUTH BOW CORP	23,600	$648	0.1%	$22.97	+18.3%	COM	83671M105
BB	BLACKBERRY LTD	16,000	$61	0.0%	$4.47	-1.7%	COM	09228F103
VXUS	VANGUARD STAR FDS	3,000	$226	0.0%	$69.09	—	VG TL INTL STK F	921909768
VET	VERMILION ENERGY INC	10,000	$83	0.0%	$13.68	-39.6%	COM	923725105