| Fund | Previous Shares | Current Shares ▲▼ | Change in Shares ▲▼ | Previous Portfolio Weightage (%) | Current Portfolio Weightage (%) ▲▼ | Change in Weight (%) ▲▼ | Type |
|---|---|---|---|---|---|---|---|
| Partners Value Investments L.P. | 181,405,955 | 181,405,955 | 0 | 78.56 | 78.87 | +0.30 | hold |
| ROYAL BANK OF CANADA | 113,774,934 | 115,757,146 | +1,982,212 | 0.87 | 0.83 | -0.04 | buy |
| Capital World Investors | 82,340,675 | 78,684,708 | -3,655,967 | 0.45 | 0.40 | -0.06 | sell |
| DODGE & COX | 59,186,855 | 61,210,651 | +2,023,796 | 1.32 | 1.36 | +0.05 | buy |
| PERSHING SQUARE HOLDCO, L.P. | 0 | 57,481,047 | +57,481,047 | 0.00 | 12.58 | +12.58 | buy |
| BANK OF MONTREAL /CAN/ | 54,786,930 | 56,708,514 | +1,921,584 | 0.91 | 0.88 | -0.03 | buy |
| PRINCIPAL FINANCIAL GROUP INC | 63,823,308 | 55,057,354 | -8,765,954 | 1.38 | 1.15 | -0.23 | sell |
| BROOKFIELD Corp /ON/ | 46,581,943 | 46,824,404 | +242,461 | 2.54 | 2.59 | +0.05 | buy |
| 1832 Asset Management L.P. | 42,945,630 | 42,497,472 | -448,158 | 2.30 | 2.22 | -0.08 | sell |
| TD ASSET MANAGEMENT INC | 36,208,452 | 28,551,753 | -7,656,699 | 1.19 | 1.05 | -0.13 | sell |
| NORGES BANK | 0 | 28,058,813 | +28,058,813 | 0.00 | 0.12 | +0.12 | buy |
| FIL Ltd | 22,471,358 | 26,049,484 | +3,578,126 | 0.71 | 0.80 | +0.09 | buy |
| MACKENZIE FINANCIAL CORP | 22,166,737 | 24,936,347 | +2,769,610 | 1.08 | 1.50 | +0.42 | buy |
| NATIONAL BANK OF CANADA /FI/ | 24,212,041 | 24,328,364 | +116,323 | 1.00 | 0.91 | -0.09 | buy |
| FIRST MANHATTAN CO. LLC. | 23,265,685 | 22,611,066 | -654,619 | 2.61 | 2.46 | -0.15 | sell |
| GEODE CAPITAL MANAGEMENT, LLC | 20,589,695 | 22,299,618 | +1,709,923 | 0.05 | 0.05 | -0.00 | buy |
| CIBC WORLD MARKET INC. | 19,676,746 | 18,805,610 | -871,136 | 1.40 | 1.35 | -0.05 | sell |
| BANK OF NOVA SCOTIA | 15,340,928 | 16,584,463 | +1,243,535 | 1.09 | 1.07 | -0.02 | buy |
| CIBC Asset Management Inc | 14,102,004 | 15,748,767 | +1,646,763 | 1.40 | 1.47 | +0.08 | buy |
| CANADA PENSION PLAN INVESTMENT BOARD | 12,190,707 | 14,667,730 | +2,477,023 | 0.32 | 0.35 | +0.03 | buy |
| TD Waterhouse Canada Inc. | 13,654,791 | 13,903,270 | +248,479 | 1.64 | 1.57 | -0.07 | buy |
| MORGAN STANLEY | 10,834,867 | 13,738,306 | +2,903,439 | 0.03 | 0.03 | +0.00 | buy |
| Capital International Investors | 13,179,614 | 13,247,143 | +67,529 | 0.13 | 0.12 | -0.01 | buy |
| MARKEL GROUP INC. | 13,073,609 | 13,073,609 | 0 | 4.43 | 4.24 | -0.19 | hold |
| Federation des caisses Desjardins du Quebec | 13,391,262 | 12,858,377 | -532,885 | 1.94 | 1.67 | -0.27 | sell |
| TORONTO DOMINION BANK | 9,921,819 | 12,646,889 | +2,725,070 | 0.78 | 0.90 | +0.12 | buy |
| AKRE CAPITAL MANAGEMENT LLC | 17,027,077 | 12,119,927 | -4,907,150 | 11.27 | 10.11 | -1.16 | sell |
| FMR LLC | 11,546,810 | 11,765,054 | +218,244 | 0.02 | 0.02 | -0.00 | buy |
| UBS Group AG | 2,406,079 | 11,039,263 | +8,633,184 | 0.02 | 0.07 | +0.06 | buy |
| SCOTIA CAPITAL INC. | 11,077,640 | 10,662,421 | -415,219 | 1.84 | 1.70 | -0.15 | sell |
| Legal & General Group Plc | 11,428,128 | 10,447,234 | -980,894 | 0.11 | 0.09 | -0.01 | sell |
| BANK OF AMERICA CORP /DE/ | 11,115,001 | 9,864,675 | -1,250,326 | 0.03 | 0.03 | -0.01 | sell |
| DAVENPORT & Co LLC | 10,487,219 | 9,666,951 | -820,268 | 2.35 | 2.10 | -0.26 | sell |
| GOLDMAN SACHS GROUP INC | 9,689,050 | 9,537,173 | -151,877 | 0.05 | 0.04 | -0.01 | sell |
| JPMORGAN CHASE & CO | 9,019,415 | 9,100,060 | +80,645 | 0.02 | 0.02 | -0.00 | buy |
| REGENTS OF THE UNIVERSITY OF CALIFORNIA | 8,979,204 | 8,979,204 | 0 | 12.09 | 8.76 | -3.32 | hold |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | 9,832,789 | 8,112,388 | -1,720,401 | 0.34 | 0.27 | -0.07 | sell |
| Neuberger Berman Group LLC | 7,149,678 | 7,053,087 | -96,591 | 0.22 | 0.20 | -0.02 | sell |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | 5,192,606 | 6,936,231 | +1,743,625 | 0.35 | 0.42 | +0.08 | buy |
| Beutel, Goodman & Co Ltd. | 3,977,934 | 6,186,707 | +2,208,773 | 1.09 | 1.94 | +0.85 | buy |
| BAILLIE GIFFORD & CO | 6,616,033 | 5,838,391 | -777,642 | 0.27 | 0.23 | -0.05 | sell |
| Connor, Clark & Lunn Investment Management Ltd. | 4,938,599 | 4,832,734 | -105,865 | 0.46 | 0.39 | -0.07 | sell |
| PICTON MAHONEY ASSET MANAGEMENT | 3,655,199 | 4,751,905 | +1,096,706 | 1.54 | 1.87 | +0.32 | buy |
| CHECK CAPITAL MANAGEMENT INC/CA | 4,379,938 | 4,409,171 | +29,233 | 10.93 | 10.62 | -0.31 | buy |
| BESSEMER GROUP INC | 2,004 | 4,270,661 | +4,268,657 | 0.00 | 0.25 | +0.25 | buy |
| Alberta Investment Management Corp | 3,685,309 | 4,196,146 | +510,837 | 0.92 | 1.03 | +0.11 | buy |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | 3,632,320 | 4,030,678 | +398,358 | 0.06 | 0.07 | +0.01 | buy |
| Capital Research Global Investors | 4,289,389 | 3,734,786 | -554,603 | 0.03 | 0.02 | -0.00 | sell |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp | 2,618,947 | 3,551,629 | +932,682 | 0.63 | 0.95 | +0.32 | buy |
| Novo Holdings A/S | 3,496,245 | 3,496,245 | 0 | 11.46 | 8.68 | -2.78 | hold |
| COOKE & BIELER LP | 3,520,735 | 3,477,413 | -43,322 | 1.61 | 1.71 | +0.10 | sell |
| FENIMORE ASSET MANAGEMENT INC | 3,436,218 | 3,459,743 | +23,525 | 3.10 | 3.05 | -0.05 | buy |
| DEUTSCHE BANK AG\ | 3,230,733 | 3,339,870 | +109,137 | 0.04 | 0.04 | -0.00 | buy |
| GUARDIAN CAPITAL LP | 2,751,807 | 3,333,406 | +581,599 | 2.94 | 3.46 | +0.52 | buy |
| Cardinal Capital Management, Inc. | 3,166,889 | 3,247,627 | +80,738 | 3.45 | 3.35 | -0.10 | buy |
| PUBLIC SECTOR PENSION INVESTMENT BOARD | 1,517,524 | 3,207,581 | +1,690,057 | 0.19 | 0.36 | +0.17 | buy |
| MUFG SECURITIES (CANADA), LTD. | 3,269,278 | 3,022,165 | -247,113 | 3.80 | 3.47 | -0.33 | sell |
| Cannell & Spears LLC | 2,702,625 | 2,958,089 | +255,464 | 2.14 | 2.24 | +0.10 | buy |
| Aristotle Capital Management, LLC | 3,112,754 | 2,947,402 | -165,352 | 0.26 | 0.26 | -0.00 | sell |
| Aristotle Capital Management, LLC | 3,113,897 | 2,914,232 | -199,665 | 0.26 | 0.26 | -0.00 | sell |
| Quadrature Capital Ltd | 146,350 | 2,856,050 | +2,709,700 | 0.07 | 1.04 | +0.97 | buy |
| STIFEL FINANCIAL CORP | 2,447,859 | 2,837,188 | +389,329 | 0.09 | 0.10 | +0.01 | buy |
| CI INVESTMENTS INC. | 3,429,556 | 2,795,175 | -634,381 | 0.67 | 0.38 | -0.29 | sell |
| Amundi | 2,696,723 | 2,767,208 | +70,485 | 0.03 | 0.03 | -0.00 | buy |
| D. E. Shaw & Co., Inc. | 3,600,628 | 2,694,174 | -906,454 | 0.11 | 0.07 | -0.04 | sell |
| Clearbridge Investments, LLC | 2,761,918 | 2,674,360 | -87,558 | 0.10 | 0.09 | -0.00 | sell |
| AGF MANAGEMENT LTD | 3,246,823 | 2,607,831 | -638,992 | 0.59 | 0.43 | -0.16 | sell |
| SCHARF INVESTMENTS, LLC | 2,756,660 | 2,591,096 | -165,564 | 3.44 | 3.65 | +0.21 | sell |
| WELLS FARGO & COMPANY/MN | 4,261,697 | 2,504,120 | -1,757,577 | 0.03 | 0.02 | -0.02 | sell |
| MCDONALD CAPITAL INVESTORS INC/CA | 2,642,836 | 2,437,749 | -205,087 | 7.32 | 7.58 | +0.26 | sell |
| DIMENSIONAL FUND ADVISORS LP | 2,290,509 | 2,436,233 | +145,724 | 0.02 | 0.02 | -0.00 | buy |
| AMERIPRISE FINANCIAL INC | 2,563,284 | 2,387,558 | -175,726 | 0.02 | 0.02 | -0.00 | sell |
| RAYMOND JAMES FINANCIAL INC | 2,376,833 | 2,290,552 | -86,281 | 0.03 | 0.03 | -0.00 | sell |
| NORTHERN TRUST CORP | 2,270,459 | 2,203,431 | -67,028 | 0.01 | 0.01 | -0.00 | sell |
| ENVESTNET ASSET MANAGEMENT INC | 2,322,041 | 2,190,049 | -131,992 | 0.03 | 0.02 | -0.00 | sell |
| Addenda Capital Inc. | 2,168,691 | 2,179,602 | +10,911 | 3.44 | 3.59 | +0.14 | buy |
| Aviso Financial Inc. | 2,161,688 | 2,145,349 | -16,339 | 3.11 | 3.18 | +0.07 | sell |
| Sather Financial Group Inc | 2,127,876 | 2,133,348 | +5,472 | 5.29 | 5.22 | -0.08 | buy |
| BAMCO INC /NY/ | 2,905,510 | 2,132,011 | -773,499 | 0.35 | 0.14 | -0.22 | sell |
| JANE STREET GROUP, LLC | 4,121,668 | 2,127,245 | -1,994,423 | 0.18 | 0.06 | -0.12 | sell |
| James Hambro & Partners LLP | 2,064,936 | 2,119,145 | +54,209 | 3.28 | 3.26 | -0.01 | buy |
| BRUNI J V & CO /CO | 2,102,466 | 2,093,766 | -8,700 | 8.88 | 8.14 | -0.74 | sell |
| Dixon Mitchell Investment Counsel Inc. | 2,026,278 | 2,038,905 | +12,627 | 2.85 | 2.83 | -0.02 | buy |
| M&G Plc | 2,098,614 | 1,970,431 | -128,183 | 0.43 | 0.42 | -0.01 | sell |
| CAISSE DE DEPOT ET PLACEMENT DU QUEBEC | 2,670,419 | 1,945,047 | -725,372 | 0.17 | 0.12 | -0.05 | sell |
| Scheer, Rowlett & Associates Investment Management Ltd. | 1,956,028 | 1,942,657 | -13,371 | 5.70 | 5.95 | +0.25 | sell |
| Bank of New York Mellon Corp | 1,881,916 | 1,891,296 | +9,380 | 0.01 | 0.01 | -0.00 | buy |
| Corient Private Wealth LLC | 2,329,960 | 1,881,844 | -448,116 | 0.13 | 0.11 | -0.02 | sell |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | 0 | 1,816,951 | +1,816,951 | 0.00 | 0.03 | +0.03 | buy |
| Polar Asset Management Partners Inc. | 0 | 1,763,103 | +1,763,103 | 0.00 | 1.37 | +1.37 | buy |
| AVIVA PLC | 1,759,798 | 1,748,863 | -10,935 | 0.12 | 0.11 | -0.01 | sell |
| WELLINGTON MANAGEMENT GROUP LLP | 1,680,811 | 1,724,065 | +43,254 | 0.01 | 0.01 | -0.00 | buy |
| Marathon Asset Management Ltd | 1,955,732 | 1,705,303 | -250,429 | 3.03 | 2.95 | -0.07 | sell |
| BARCLAYS PLC | 654,809 | 1,601,235 | +946,426 | 0.01 | 0.02 | +0.01 | buy |
| HORIZON KINETICS ASSET MANAGEMENT LLC | 1,571,936 | 1,587,339 | +15,403 | 0.69 | 0.77 | +0.08 | buy |
| WCM INVESTMENT MANAGEMENT, LLC | 1,103,817 | 1,573,553 | +469,736 | 0.10 | 0.12 | +0.02 | buy |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | 839,662 | 1,566,315 | +726,653 | 0.14 | 0.28 | +0.15 | buy |
| BlackRock, Inc. | 1,119,044 | 1,475,637 | +356,593 | 0.00 | 0.00 | +0.00 | buy |
| GREENLEA LANE CAPITAL MANAGEMENT, LLC | 1,392,742 | 1,392,742 | 0 | 16.37 | 16.29 | -0.08 | hold |
| Qube Research & Technologies Ltd | 436,751 | 1,366,614 | +929,863 | 0.03 | 0.06 | +0.04 | buy |