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
ALPHABET INC COMMON 02079K305 79,429,259 230,842 SH SOLE 123,990 0 106,852
AMAZON COM INC COMMON 023135106 82,993,589 332,912 SH SOLE 178,685 0 154,227
ARCHER DANIELS MIDLAND CO COMMON 039483102 12,638,347 159,212 SH SOLE 84,932 0 74,280
ATS CORPORATION COMMON 00217Y104 13,261,330 732,044 SH SOLE 449,609 0 282,435
AUTODESK INC COMMON 052769106 15,725,740 75,243 SH SOLE 40,163 0 35,080
AXALTA COATING SYS LTD COMMON G0750C108 6,608,042 205,470 SH SOLE 109,609 0 95,861
BAKER HUGHES COMPANY COMMON 05722G100 9,363,863 170,566 SH SOLE 90,997 0 79,569
BANK NOVA SCOTIA B C COMMON 064149107 66,467,270 729,102 SH SOLE 447,749 0 281,353
BARRICK MNG CORP COMMON 06849F108 5,043,421 124,013 SH SOLE 52,965 0 71,048
BIO RAD LABS INC COMMON 090572207 14,493,110 38,371 SH SOLE 20,469 0 17,902
BROOKFIELD CORP COMMON 11271J107 47,786,036 1,306,677 SH SOLE 802,173 0 504,504
BROOKFIELD ASSET MANAGMT LTD COMMON 113004105 9,701,197 216,832 SH SOLE 133,131 0 83,701
C H ROBINSON WORLDWIDE IN COMMON 12541W209 11,256,593 75,779 SH SOLE 40,424 0 35,355
CANADIAN NAT RES LTD MED TER COMMON 136385101 50,491,053 1,060,802 SH SOLE 642,058 0 418,744
CANADIAN PACIFIC KANSAS CITY COMMON 13646K108 30,141,028 352,295 SH SOLE 216,276 0 136,019
CEMEX SA EURO MTN BE 144A COMMON 151290889 38,687,441 4,068,080 SH SOLE 0 0 905,434
CHAMPION HOMES INC COMMON 830830105 15,421,278 179,941 SH SOLE 96,700 0 83,241
COMPANIA DE MINAS BUENAVENTU COMMON 204448104 38,432,995 1,217,012 SH SOLE 0 0 266,912
CME GROUP INC COMMON 12572Q105 22,922,726 87,498 SH SOLE 46,873 0 40,625
CNH INDL N V COMMON N20944109 139,932,735 10,889,707 SH SOLE 10,524,926 0 364,781
COCA COLA CONS INC COMMON 191098102 8,919,058 47,125 SH SOLE 25,138 0 21,987
COCA-COLA EUROPACIFIC PARTNE COMMON G25839104 95,414,965 938,108 SH SOLE 829,338 0 108,770
COPA HOLDINGS SA COMMON P31076105 50,721,696 384,695 SH SOLE 348,673 0 36,022
DOLLAR TREE INC COMMON 256746108 12,108,969 106,205 SH SOLE 56,656 0 49,549
DONNELLEY FINL SOLUTIONS INC COMMON 25787G100 5,211,773 110,451 SH SOLE 58,920 0 51,531
ELEVANCE HEALTH INC FORMERLY COMMON 036752103 66,891,320 172,037 SH SOLE 92,313 0 79,724
ENVISTA HOLDINGS CORPORATION COMMON 29415F104 12,139,749 517,259 SH SOLE 275,916 0 241,343
FISERV INC COMMON 337738108 16,975,248 375,730 SH SOLE 201,616 0 174,114
FRANCO NEV CORP COMMON 351858105 45,889,017 192,300 SH SOLE 118,052 0 74,248
FREEPORT MCMORAN INC COMMON 35671D857 14,017,029 200,252 SH SOLE 85,215 0 115,037
FTI CONSULTING INC COMMON 302941109 5,642,596 41,951 SH SOLE 22,380 0 19,571
GFL ENVIRONMENTAL INC COMMON 36168Q104 32,310,496 771,499 SH SOLE 467,515 0 303,984
GILDAN ACTIVEWEAR INC COMMON 375916103 34,586,030 809,891 SH SOLE 497,216 0 312,675
HDFC BANK LTD COMMON 40415F101 11,805,554 528,455 SH SOLE 0 0 467,365
HEALTHCARE SVCS GROUP INC COMMON 421906108 14,205,409 694,704 SH SOLE 370,592 0 324,112
SCHEIN HENRY INC COMMON 806407102 10,672,928 127,105 SH SOLE 67,804 0 59,301
INMODE LTD COMMON M5425M103 69,575 4,910 SH SOLE 4,910 0 0
INTERACTIVE BROKERS GROUP IN COMMON 45841N107 33,661,843 394,086 SH SOLE 210,354 0 183,732
INTERCONTINENTAL EXCHANGE IN COMMON 45866F104 21,440,685 141,027 SH SOLE 75,576 0 65,451
IQVIA HLDGS INC COMMON 46266C105 22,292,789 82,916 SH SOLE 44,486 0 38,430
OPENLANE INC COMMON 48238T109 15,424,206 451,917 SH SOLE 241,095 0 210,822
LAUREATE ED INC COMMON 518613203 48,486,182 1,270,604 SH SOLE 1,012,760 0 257,844
MARKEL GROUP INC COMMON 570535104 27,033,527 15,785 SH SOLE 8,475 0 7,310
MASTERBRAND INC COMMON 57638P104 6,629,872 947,041 SH SOLE 505,238 0 441,803
MASTERCARD INCORPORATED COMMON 57636Q104 24,947,957 45,458 SH SOLE 24,420 0 21,038
META PLATFORMS INC COMMON 30303M102 47,334,154 65,271 SH SOLE 35,052 0 30,219
MICRON TECHNOLOGY INC COMMON 595112103 46,817,045 43,949 SH SOLE 23,460 0 20,489
MICROSOFT CORP COMMON 594918104 51,209,988 99,844 SH SOLE 53,486 0 46,358
MILLICOM INTL CELLULAR S A COMMON L6388F110 78,084,934 896,086 SH SOLE 699,444 0 196,642
NEWMONT CORP COMMON 651639106 13,231,947 114,720 SH SOLE 61,202 0 53,518
NVIDIA CORPORATION COMMON 67066G104 67,718,745 296,231 SH SOLE 158,494 0 137,737
ORACLE CORP COMMON 68389X105 32,215,991 234,632 SH SOLE 126,049 0 108,583
FLUTTER ENTMT PLC COMMON G3643J108 75,136 1,008 SH SOLE 1,008 0 0
PAYCOM SOFTWARE INC COMMON 70432V102 19,273,607 88,557 SH SOLE 47,510 0 41,047
PROGRESSIVE CORP COMMON 743315103 26,372,540 127,210 SH SOLE 67,904 0 59,306
RAYONIER INC COMMON 754907103 11,550,665 629,100 SH SOLE 335,622 0 293,478
ROGERS CORP COMMON 775133101 11,708,561 76,530 SH SOLE 40,828 0 35,702
ROYALTY PHARMA PLC COMMON G7709Q104 15,258,047 261,447 SH SOLE 139,483 0 121,964
S&P GLOBAL INC COMMON 78409V104 20,038,933 50,797 SH SOLE 27,243 0 23,554
SMURFIT WESTROCK PLC COMMON G8267P108 12,996,408 294,699 SH SOLE 157,222 0 137,477
SOUTHERN COPPER CORP COMMON 84265V105 91,608,117 452,075 SH SOLE 352,959 0 99,116
TAIWAN SEMICONDUCTOR MANUFAC COMMON 874039100 28,115,276 61,503 SH SOLE 0 0 53,512
TELEFLEX INCORPORATED COMMON 879369106 13,724,959 109,764 SH SOLE 58,984 0 50,780
TERADATA CORP DEL COMMON 88076W103 10,897,973 377,877 SH SOLE 201,596 0 176,281
THERMO FISHER SCIENTIFIC INC COMMON 883556102 40,967,847 60,648 SH SOLE 32,524 0 28,124
TJX COS INC NEW COMMON 872540109 12,459,926 94,170 SH SOLE 50,266 0 43,904
TRANSUNION COMMON 89400J107 30,669,475 501,781 SH SOLE 269,243 0 232,538
VAIL RESORTS INC COMMON 91879Q109 11,499,900 83,833 SH SOLE 44,724 0 39,109
VISA INC COMMON 92826C839 42,701,872 118,834 SH SOLE 63,864 0 54,970
VISTA ENERGY S.A.B. DE C.V. COMMON 92837L109 31,018,553 474,648 SH SOLE 0 0 38,337
VONTIER CORPORATION COMMON 928881101 5,276,591 168,041 SH SOLE 89,642 0 78,399
WARNER MUSIC GROUP CORP COMMON 934550203 11,466,212 415,292 SH SOLE 221,559 0 193,733
WELLS FARGO & CO COMMON 949746101 6,495,478 81,139 SH SOLE 43,283 0 37,856
WEST FRASER TIMBER LTD COMMON 952845105 42,340,496 606,680 SH SOLE 372,878 0 233,802
WEYERHAEUSER CO COMMON 962166104 10,765,555 565,121 SH SOLE 301,489 0 263,632
WILLSCOT HLDGS CORP COMMON 971378104 7,655,786 445,638 SH SOLE 237,749 0 207,889