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
Expires: July 31, 2015
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 6,188,108 30,480 SH SOLE 1 30,480 0 0
ALAMOS GOLD INC COM CL A 011532108 1,504,938 33,820 SH SOLE 1 33,820 0 0
ALMONTY INDS INC COM NEW 020398707 2,910,482 200,000 SH SOLE 1 200,000 0 0
AMERICAS GOLD AND SILVER COR COM NEW 03062D803 2,392,013 458,250 SH SOLE 1 458,250 0 0
ARIS MINING CORPORATION COM 04040Y109 4,824,246 259,765 SH SOLE 1 259,765 0 0
ATS CORPORATION COM 00217Y104 1,409,585 50,000 SH SOLE 1 50,000 0 0
BANK MONTREAL MEDIUM COM 063671101 5,865,963 43,300 SH SOLE 1 43,300 0 0
BANK NOVA SCOTIA B C COM 064149107 467,495 6,740 SH SOLE 1 6,740 0 0
BARRICK MNG CORP COM SHS 06849F108 3,881,873 94,970 SH SOLE 1 94,970 0 0
BAYTEX ENERGY CORP COM 07317Q105 12,548,729 2,805,993 SH SOLE 1 2,805,993 0 0
BOYD GROUP SERVICES INC COM 103310108 11,988,811 93,893 SH SOLE 1 93,893 0 0
BROOKFIELD BUSINESS CORP CL A SUB VTG SH 113006100 30,967,615 978,912 SH SOLE 1 978,912 0 0
BROOKFIELD CORP CL A LTD VT SH 11271J107 4,094,301 101,020 SH SOLE 1 101,020 0 0
BROOKFIELD INFRASTRUCTURE PA LP INT UNIT G16252101 10,584,200 293,154 SH SOLE 1 293,154 0 0
BROOKFIELD RENEWABLE ENERGY PARTNERSHIP UNIT G16258108 5,565,664 170,580 SH SOLE 1 170,580 0 0
CAE INC COM 124765108 20,405,110 782,693 SH SOLE 1 782,693 0 0
CAMECO CORP COM 13321L108 3,357,560 30,930 SH SOLE 1 30,930 0 0
CANADIAN IMPERIAL BANK OF CO COM 136069101 5,577,193 58,930 SH SOLE 1 58,930 0 0
CANADIAN NAT RES LTD MED TER COM 136385101 6,234,550 127,800 SH SOLE 1 127,800 0 0
CANADIAN NATL RY CO COM 136375102 6,409,378 62,260 SH SOLE 1 62,260 0 0
CANADIAN PACIFIC KANSAS CITY COM 13646K108 4,228,987 53,730 SH SOLE 1 53,730 0 0
CARVANA CO CL A 146869102 2,042,212 6,496 SH SOLE 1 6,496 0 0
CELESTICA INC COM 15101Q207 2,646,539 9,380 SH SOLE 1 9,380 0 0
CENOVUS ENERGY INC COM 15135U109 11,737,629 442,865 SH SOLE 1 442,865 0 0
CENTERRA GOLD INC COM 152006102 4,527,863 255,270 SH SOLE 1 255,270 0 0
CGI INC CL A SUB VTG 12532H104 1,519,466 20,780 SH SOLE 1 20,780 0 0
CRH PLC ORD G25508105 11,854,698 112,773 SH SOLE 1 112,773 0 0
DENISON MINES CORP COM 248356107 9,425,889 2,659,200 SH SOLE 1 2,659,200 0 0
ENBRIDGE INC COM 29250N105 6,698,243 123,540 SH SOLE 1 123,540 0 0
ENDEAVOUR SILVER CORP COM 29258Y103 3,856,572 413,240 SH SOLE 1 413,240 0 0
ENERFLEX LTD COM 29269R105 13,835,166 661,252 SH SOLE 1 661,252 0 0
EQUINOX GOLD CORP COM 29446Y502 8,022,380 555,385 SH SOLE 1 555,385 0 0
ERO COPPER CORP COM 296006109 5,646,689 211,859 SH SOLE 1 211,859 0 0
FORTIS INC COM 349553107 2,771,636 49,670 SH SOLE 1 49,670 0 0
FORTUNA MNG CORP COM NEW 349942102 2,568,747 258,330 SH SOLE 1 258,330 0 0
GFL ENVIRONMENTAL INC SUB VTG SHS 36168Q104 7,835,601 187,807 SH SOLE 1 187,807 0 0
GILDAN ACTIVEWEAR INC COM 375916103 440,645 7,911 SH SOLE 1 7,911 0 0
HUDBAY MINERALS INC COM 443628102 3,385,848 161,660 SH SOLE 1 161,660 0 0
IAMGOLD CORP COM 450913108 7,586,541 403,320 SH SOLE 1 403,320 0 0
KINROSS GOLD CORP COM 496902404 2,679,310 87,620 SH SOLE 1 87,620 0 0
KNIGHT-SWIFT TRANSN HLDGS IN CL A 499049104 2,568,644 44,610 SH SOLE 1 44,610 0 0
LIGHTSPEED COMMERCE INC SUB VTG SHS 53229C107 2,244,117 250,900 SH SOLE 1 250,900 0 0
MANULIFE FINL CORP COM 56501R106 3,471,632 100,761 SH SOLE 1 100,761 0 0
NEXGEN ENERGY LTD COM 65340P106 4,112,649 354,400 SH SOLE 1 354,400 0 0
NUTRIEN LTD COM 67077M108 2,211,436 29,290 SH SOLE 1 29,290 0 0
ORLA MNG LTD NEW COM 68634K106 4,908,473 305,180 SH SOLE 1 305,180 0 0
PEMBINA PIPELINE CORP COM 706327103 4,458,991 99,545 SH SOLE 1 99,545 0 0
PERPETUA RESOURCES CORP COM 714266103 4,624,232 164,070 SH SOLE 1 164,070 0 0
RB GLOBAL INC COM 74935Q107 1,316,500 13,735 SH SOLE 1 13,735 0 0
ROYAL BK CDA COM 780087102 13,555,842 83,840 SH SOLE 1 83,840 0 0
SHOPIFY INC CL A SUB VTG SHS 82509L107 8,884,153 74,860 SH SOLE 1 74,860 0 0
SKEENA RES LTD NEW COM 83056P715 4,214,684 141,490 SH SOLE 1 141,490 0 0
SUNCOR ENERGY INC NEW COM 867224107 5,504,716 83,210 SH SOLE 1 83,210 0 0
TASEKO MINES LTD COM 876511106 6,594,600 1,017,980 SH SOLE 1 1,017,980 0 0
TECK RESOURCES LTD CL B 878742204 3,333,988 64,430 SH SOLE 1 64,430 0 0
TORONTO DOMINION BK ONT COM NEW 891160509 11,368,232 121,860 SH SOLE 1 121,860 0 0
TRANSFORCE INC COM 87241L109 3,921,492 36,020 SH SOLE 1 36,020 0 0
WASTE CONNECTIONS INC COM 94106B101 336,389 2,070 SH SOLE 1 2,070 0 0
WHEATON PRECIOUS METALS CORP COM 962879102 3,937,328 29,990 SH SOLE 1 29,990 0 0