| Fund | Previous Shares | Current Shares ▲▼ | Change in Shares ▲▼ | Previous Portfolio Weightage (%) | Current Portfolio Weightage (%) ▲▼ | Change in Weight (%) ▲▼ | Type |
|---|---|---|---|---|---|---|---|
| Partners Value Investments L.P. | 120,968,883 | 120,968,883 | 0 | 74.23 | 75.56 | +1.33 | hold |
| ROYAL BANK OF CANADA | 97,093,406 | 90,598,183 | -6,495,223 | 0.99 | 0.90 | -0.08 | sell |
| PRINCIPAL FINANCIAL GROUP INC | 62,080,629 | 60,858,459 | -1,222,170 | 1.53 | 1.50 | -0.03 | sell |
| VANGUARD GROUP INC | 57,480,308 | 57,899,328 | +419,020 | 0.05 | 0.05 | -0.00 | buy |
| Capital World Investors | 51,922,031 | 55,969,398 | +4,047,367 | 0.36 | 0.38 | +0.02 | buy |
| BANK OF MONTREAL /CAN/ | 54,797,175 | 52,554,152 | -2,243,023 | 0.72 | 0.70 | -0.02 | sell |
| BROOKFIELD Corp /ON/ | 32,934,574 | 32,934,574 | 0 | 8.14 | 8.58 | +0.44 | hold |
| TD ASSET MANAGEMENT INC | 25,935,145 | 24,885,202 | -1,049,943 | 1.01 | 0.97 | -0.05 | sell |
| 1832 Asset Management L.P. | 22,605,567 | 21,789,751 | -815,816 | 1.73 | 1.64 | -0.09 | sell |
| JARISLOWSKY, FRASER Ltd | 21,667,121 | 21,144,135 | -522,986 | 5.21 | 5.34 | +0.14 | sell |
| AKRE CAPITAL MANAGEMENT LLC | 17,958,415 | 18,465,882 | +507,467 | 6.22 | 6.75 | +0.53 | buy |
| MACKENZIE FINANCIAL CORP | 18,456,546 | 17,635,388 | -821,158 | 1.12 | 1.09 | -0.03 | sell |
| FIRST MANHATTAN CO. LLC. | 17,833,751 | 17,569,190 | -264,561 | 2.42 | 2.34 | -0.08 | sell |
| BANK OF NOVA SCOTIA | 19,533,185 | 16,350,082 | -3,183,103 | 1.65 | 1.33 | -0.31 | sell |
| NORGES BANK | 16,022,033 | 16,091,124 | +69,091 | 0.11 | 0.10 | -0.01 | buy |
| CIBC Asset Management Inc | 15,659,301 | 14,144,319 | -1,514,982 | 2.28 | 2.09 | -0.18 | sell |
| FIL Ltd | 15,550,329 | 11,953,352 | -3,596,977 | 0.65 | 0.49 | -0.15 | sell |
| GOLDMAN SACHS GROUP INC | 11,082,658 | 11,857,730 | +775,072 | 0.10 | 0.10 | -0.00 | buy |
| Soroban Capital Partners LP | 10,060,586 | 11,476,297 | +1,415,711 | 6.37 | 7.00 | +0.64 | buy |
| EdgePoint Investment Group Inc. | 11,375,780 | 11,316,027 | -59,753 | 3.79 | 3.97 | +0.17 | sell |
| CIBC WORLD MARKET INC. | 10,712,406 | 10,549,682 | -162,724 | 1.15 | 1.09 | -0.06 | sell |
| FMR LLC | 10,556,063 | 10,366,482 | -189,581 | 0.03 | 0.03 | -0.00 | sell |
| DAVENPORT & Co LLC | 9,492,928 | 9,457,786 | -35,142 | 2.47 | 2.49 | +0.02 | sell |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | 14,199,498 | 8,917,996 | -5,281,502 | 0.55 | 0.35 | -0.20 | sell |
| MORGAN STANLEY | 7,541,405 | 8,819,391 | +1,277,986 | 0.03 | 0.03 | +0.00 | buy |
| MARKEL GROUP INC. | 8,715,741 | 8,715,741 | 0 | 3.60 | 3.56 | -0.04 | hold |
| Federation des caisses Desjardins du Quebec | 4,177,984 | 8,397,896 | +4,219,912 | 1.70 | 1.87 | +0.17 | buy |
| Connor, Clark & Lunn Investment Management Ltd. | 7,531,142 | 6,881,098 | -650,044 | 1.36 | 1.20 | -0.15 | sell |
| BANK OF AMERICA CORP /DE/ | 6,707,764 | 6,871,366 | +163,602 | 0.03 | 0.03 | -0.00 | buy |
| Pershing Square Capital Management, L.P. | 0 | 6,854,510 | +6,854,510 | 0.00 | 2.73 | +2.73 | buy |
| SCOTIA CAPITAL INC. | 6,637,629 | 6,749,069 | +111,440 | 1.65 | 1.63 | -0.02 | buy |
| JPMORGAN CHASE & CO | 5,820,974 | 6,562,384 | +741,410 | 0.02 | 0.02 | +0.00 | buy |
| Hudson Bay Capital Management LP | 0 | 6,500,000 | +6,500,000 | 0.00 | 2.03 | +2.03 | buy |
| Neuberger Berman Group LLC | 7,136,033 | 6,297,610 | -838,423 | 0.25 | 0.21 | -0.03 | sell |
| Beutel, Goodman & Co Ltd. | 6,107,202 | 5,972,914 | -134,288 | 1.32 | 1.32 | +0.00 | sell |
| COOKE & BIELER LP | 5,428,960 | 5,698,773 | +269,813 | 2.10 | 2.28 | +0.18 | buy |
| GEODE CAPITAL MANAGEMENT, LLC | 5,331,342 | 5,438,123 | +106,781 | 0.02 | 0.02 | -0.00 | buy |
| Invesco Ltd. | 5,625,946 | 5,406,240 | -219,706 | 0.05 | 0.05 | -0.00 | sell |
| TORONTO DOMINION BANK | 5,394,393 | 5,107,125 | -287,268 | 0.35 | 0.34 | -0.01 | sell |
| SCHARF INVESTMENTS, LLC | 4,920,553 | 4,816,425 | -104,128 | 5.58 | 5.71 | +0.13 | sell |
| Novo Holdings A/S | 3,880,230 | 3,880,230 | 0 | 11.21 | 8.69 | -2.52 | hold |
| Alberta Investment Management Corp | 3,709,191 | 3,807,591 | +98,400 | 1.57 | 1.68 | +0.10 | buy |
| TD Waterhouse Canada Inc. | 3,731,711 | 3,682,976 | -48,735 | 1.53 | 1.36 | -0.17 | sell |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 0 | 3,213,086 | +3,213,086 | 0.00 | 0.03 | +0.03 | buy |
| Corient Private Wealth LLC | 3,167,275 | 3,203,872 | +36,597 | 0.24 | 0.23 | -0.00 | buy |
| BESSEMER GROUP INC | 1,301 | 3,188,158 | +3,186,857 | 0.00 | 0.23 | +0.23 | buy |
| CI INVESTMENTS INC. | 3,195,114 | 3,146,221 | -48,893 | 0.53 | 0.51 | -0.02 | sell |
| SG Americas Securities, LLC | 0 | 3,089,101 | +3,089,101 | 0.00 | 0.81 | +0.81 | buy |
| CHECK CAPITAL MANAGEMENT INC/CA | 3,037,695 | 3,050,887 | +13,192 | 9.32 | 9.27 | -0.05 | buy |
| Aristotle Capital Management, LLC | 2,888,834 | 2,932,804 | +43,970 | 0.22 | 0.24 | +0.01 | buy |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | 2,992,042 | 2,928,528 | -63,514 | 0.04 | 0.04 | -0.00 | sell |
| WELLS FARGO & COMPANY/MN | 2,507,400 | 2,926,825 | +419,425 | 0.03 | 0.03 | +0.00 | buy |
| AMERIPRISE FINANCIAL INC | 3,126,794 | 2,867,006 | -259,788 | 0.04 | 0.03 | -0.00 | sell |
| Aristotle Capital Management, LLC | 2,787,757 | 2,750,101 | -37,656 | 0.22 | 0.22 | +0.00 | sell |
| FENIMORE ASSET MANAGEMENT INC | 2,608,473 | 2,613,888 | +5,415 | 2.31 | 2.38 | +0.07 | buy |
| AGF MANAGEMENT LTD | 2,757,334 | 2,613,168 | -144,166 | 0.63 | 0.61 | -0.03 | sell |
| CANADA PENSION PLAN INVESTMENT BOARD | 2,568,490 | 2,568,490 | 0 | 0.11 | 0.10 | -0.01 | hold |
| CAISSE DE DEPOT ET PLACEMENT DU QUEBEC | 3,072,347 | 2,515,285 | -557,062 | 0.31 | 0.25 | -0.06 | sell |
| M&G Plc | 2,648,140 | 2,504,753 | -143,387 | 0.42 | 0.41 | -0.01 | sell |
| CIBC Private Wealth Group LLC | 2,488,565 | 2,478,507 | -10,058 | 0.20 | 0.20 | -0.00 | sell |
| Bank of New York Mellon Corp | 2,435,447 | 2,408,969 | -26,478 | 0.02 | 0.02 | -0.00 | sell |
| Cardinal Capital Management, Inc. | 2,320,364 | 2,352,094 | +31,730 | 4.31 | 3.76 | -0.56 | buy |
| NATIONAL BANK OF CANADA /FI/ | 2,354,789 | 2,321,306 | -33,483 | 0.18 | 0.15 | -0.03 | sell |
| OMERS ADMINISTRATION Corp | 2,317,789 | 2,317,789 | 0 | 1.11 | 0.93 | -0.18 | hold |
| GUARDIAN CAPITAL LP | 2,329,686 | 2,264,087 | -65,599 | 3.40 | 3.55 | +0.15 | sell |
| MCDONALD CAPITAL INVESTORS INC/CA | 2,113,822 | 2,100,395 | -13,427 | 5.54 | 5.45 | -0.09 | sell |
| Cannell & Spears LLC | 1,975,527 | 1,993,162 | +17,635 | 1.71 | 1.72 | +0.01 | buy |
| DIMENSIONAL FUND ADVISORS LP | 2,221,756 | 1,988,491 | -233,265 | 0.03 | 0.02 | -0.00 | sell |
| Burgundy Asset Management Ltd. | 1,978,459 | 1,920,702 | -57,757 | 0.85 | 0.84 | -0.01 | sell |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 0 | 1,834,401 | +1,834,401 | 0.00 | 0.02 | +0.02 | buy |
| Addenda Capital Inc. | 1,861,606 | 1,790,787 | -70,819 | 4.01 | 3.99 | -0.01 | sell |
| ENVESTNET ASSET MANAGEMENT INC | 1,737,211 | 1,763,283 | +26,072 | 0.03 | 0.03 | -0.00 | buy |
| Clearbridge Investments, LLC | 1,784,907 | 1,748,176 | -36,731 | 0.06 | 0.06 | -0.00 | sell |
| Dixon Mitchell Investment Counsel Inc. | 1,732,196 | 1,742,374 | +10,178 | 3.61 | 3.64 | +0.03 | buy |
| Marathon Asset Management Ltd | 2,032,222 | 1,720,676 | -311,546 | 2.27 | 2.24 | -0.03 | sell |
| STIFEL FINANCIAL CORP | 1,254,281 | 1,640,630 | +386,349 | 0.06 | 0.08 | +0.02 | buy |
| Blacksheep Fund Management Ltd | 1,787,884 | 1,627,774 | -160,110 | 50.32 | 51.98 | +1.66 | sell |
| GREENLEA LANE CAPITAL MANAGEMENT, LLC | 1,547,135 | 1,547,135 | 0 | 18.35 | 17.54 | -0.81 | hold |
| Sather Financial Group Inc | 1,401,788 | 1,539,101 | +137,313 | 4.21 | 4.43 | +0.22 | buy |
| Scheer, Rowlett & Associates Investment Management Ltd. | 1,535,040 | 1,528,080 | -6,960 | 4.75 | 4.87 | +0.12 | sell |
| ING GROEP NV | 0 | 1,500,000 | +1,500,000 | 0.00 | 0.37 | +0.37 | buy |
| BRUNI J V & CO /CO | 1,503,321 | 1,497,968 | -5,353 | 7.47 | 7.75 | +0.28 | sell |
| Broad Run Investment Management, LLC | 1,527,249 | 1,381,815 | -145,434 | 7.86 | 7.86 | +0.01 | sell |
| DEUTSCHE BANK AG\ | 1,392,132 | 1,367,373 | -24,759 | 0.03 | 0.03 | -0.00 | sell |
| HSBC HOLDINGS PLC | 563,329 | 1,262,139 | +698,810 | 0.02 | 0.03 | +0.02 | buy |
| Madison Asset Management, LLC | 1,274,290 | 1,241,426 | -32,864 | 0.66 | 0.64 | -0.02 | sell |
| Triasima Portfolio Management inc. | 885,814 | 1,199,250 | +313,436 | 3.11 | 4.56 | +1.45 | buy |
| BAMCO INC /NY/ | 1,287,522 | 1,198,746 | -88,776 | 0.14 | 0.14 | -0.00 | sell |
| Heritage Wealth Advisors | 1,109,322 | 1,151,545 | +42,223 | 2.12 | 2.16 | +0.04 | buy |
| HORIZON KINETICS ASSET MANAGEMENT LLC | 1,222,972 | 1,150,865 | -72,107 | 0.97 | 0.84 | -0.13 | sell |
| WELLINGTON MANAGEMENT GROUP LLP | 1,098,179 | 1,140,365 | +42,186 | 0.01 | 0.01 | +0.00 | buy |
| CIBC WORLD MARKETS CORP | 1,000,000 | 1,100,000 | +100,000 | 0.27 | 0.30 | +0.03 | buy |
| NEW SOUTH CAPITAL MANAGEMENT INC | 1,080,172 | 1,083,847 | +3,675 | 1.89 | 2.01 | +0.12 | buy |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | 581,752 | 1,051,002 | +469,250 | 0.09 | 0.16 | +0.07 | buy |
| NORTHERN TRUST CORP | 947,269 | 961,611 | +14,342 | 0.01 | 0.01 | -0.00 | buy |
| Baskin Financial Services Inc. | 928,984 | 932,007 | +3,023 | 3.26 | 3.32 | +0.06 | buy |
| LINCLUDEN MANAGEMENT LTD | 1,125,209 | 914,647 | -210,562 | 5.58 | 4.62 | -0.96 | sell |
| LAZARD ASSET MANAGEMENT LLC | 0 | 895,929 | +895,929 | 0.00 | 0.05 | +0.05 | buy |
| UBS Group AG | 917,043 | 894,013 | -23,030 | 0.01 | 0.01 | -0.00 | sell |
| Florida Trust Wealth Management Co | 904,200 | 870,355 | -33,845 | 1.29 | 1.24 | -0.05 | sell |