| 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 | 75.56 | 76.02 | +0.46 | hold |
| ROYAL BANK OF CANADA | 90,598,183 | 84,241,391 | -6,356,792 | 0.90 | 1.00 | +0.09 | sell |
| PRINCIPAL FINANCIAL GROUP INC | 60,858,459 | 59,091,655 | -1,766,804 | 1.50 | 1.71 | +0.21 | sell |
| VANGUARD GROUP INC | 57,899,328 | 58,929,925 | +1,030,597 | 0.05 | 0.06 | +0.01 | buy |
| Capital World Investors | 55,969,398 | 57,238,269 | +1,268,871 | 0.38 | 0.47 | +0.09 | buy |
| BANK OF MONTREAL /CAN/ | 52,554,152 | 52,597,295 | +43,143 | 0.70 | 1.30 | +0.60 | buy |
| BROOKFIELD Corp /ON/ | 32,934,574 | 32,965,748 | +31,174 | 8.58 | 9.90 | +1.33 | buy |
| Pershing Square Capital Management, L.P. | 6,854,510 | 32,735,883 | +25,881,373 | 2.73 | 13.47 | +10.74 | buy |
| TD ASSET MANAGEMENT INC | 24,885,202 | 24,370,865 | -514,337 | 0.97 | 1.15 | +0.19 | sell |
| 1832 Asset Management L.P. | 21,789,751 | 23,123,203 | +1,333,452 | 1.64 | 2.06 | +0.42 | buy |
| JARISLOWSKY, FRASER Ltd | 21,144,135 | 19,161,418 | -1,982,717 | 5.34 | 5.70 | +0.36 | sell |
| AKRE CAPITAL MANAGEMENT LLC | 18,465,882 | 18,938,431 | +472,549 | 6.75 | 8.38 | +1.63 | buy |
| FIL Ltd | 11,953,352 | 18,713,613 | +6,760,261 | 0.49 | 0.90 | +0.41 | buy |
| MACKENZIE FINANCIAL CORP | 17,635,388 | 17,402,913 | -232,475 | 1.09 | 1.29 | +0.20 | sell |
| FIRST MANHATTAN CO. LLC. | 17,569,190 | 17,132,898 | -436,292 | 2.34 | 2.70 | +0.36 | sell |
| NORGES BANK | 16,091,124 | 16,232,539 | +141,415 | 0.10 | 0.12 | +0.02 | buy |
| BANK OF NOVA SCOTIA | 16,350,082 | 14,200,467 | -2,149,615 | 1.33 | 1.52 | +0.19 | sell |
| CIBC Asset Management Inc | 14,144,319 | 13,354,705 | -789,614 | 2.09 | 2.31 | +0.21 | sell |
| CIBC WORLD MARKET INC. | 10,549,682 | 11,951,369 | +1,401,687 | 1.09 | 1.43 | +0.34 | buy |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | 8,917,996 | 11,736,712 | +2,818,716 | 0.35 | 0.55 | +0.20 | buy |
| EdgePoint Investment Group Inc. | 11,316,027 | 11,512,817 | +196,790 | 3.97 | 4.82 | +0.85 | buy |
| Soroban Capital Partners LP | 11,476,297 | 11,082,391 | -393,906 | 7.00 | 8.15 | +1.15 | sell |
| FMR LLC | 10,366,482 | 10,162,455 | -204,027 | 0.03 | 0.03 | +0.01 | sell |
| Select Equity Group, L.P. | 0 | 9,723,279 | +9,723,279 | 0.00 | 1.89 | +1.89 | buy |
| DAVENPORT & Co LLC | 9,457,786 | 9,439,335 | -18,451 | 2.49 | 2.95 | +0.46 | sell |
| GOLDMAN SACHS GROUP INC | 11,857,730 | 9,043,898 | -2,813,832 | 0.10 | 0.09 | -0.00 | sell |
| MARKEL GROUP INC. | 8,715,741 | 8,715,741 | 0 | 3.56 | 4.17 | +0.61 | hold |
| Federation des caisses Desjardins du Quebec | 8,397,896 | 8,584,071 | +186,175 | 1.87 | 2.25 | +0.37 | buy |
| Legal & General Group Plc | 236,057 | 7,622,581 | +7,386,524 | 0.00 | 0.11 | +0.10 | buy |
| SCOTIA CAPITAL INC. | 6,749,069 | 6,698,321 | -50,748 | 1.63 | 1.90 | +0.26 | sell |
| Beutel, Goodman & Co Ltd. | 5,972,914 | 6,524,898 | +551,984 | 1.32 | 1.71 | +0.39 | buy |
| MORGAN STANLEY | 8,819,391 | 6,250,960 | -2,568,431 | 0.03 | 0.02 | -0.00 | sell |
| GEODE CAPITAL MANAGEMENT, LLC | 5,438,123 | 6,029,880 | +591,757 | 0.02 | 0.03 | +0.01 | buy |
| BANK OF AMERICA CORP /DE/ | 6,871,366 | 5,931,279 | -940,087 | 0.03 | 0.03 | +0.00 | sell |
| Neuberger Berman Group LLC | 6,297,610 | 5,891,229 | -406,381 | 0.21 | 0.24 | +0.03 | sell |
| TORONTO DOMINION BANK | 5,107,125 | 5,879,497 | +772,372 | 0.34 | 0.55 | +0.21 | buy |
| Connor, Clark & Lunn Investment Management Ltd. | 6,881,098 | 5,838,483 | -1,042,615 | 1.20 | 1.50 | +0.30 | sell |
| Aristotle Capital Management, LLC | 2,932,804 | 4,929,869 | +1,997,065 | 0.24 | 0.48 | +0.24 | buy |
| JPMORGAN CHASE & CO | 6,562,384 | 4,905,380 | -1,657,004 | 0.02 | 0.02 | -0.00 | sell |
| COOKE & BIELER LP | 5,698,773 | 4,797,076 | -901,697 | 2.28 | 2.32 | +0.04 | sell |
| Third Point LLC | 0 | 4,725,000 | +4,725,000 | 0.00 | 3.38 | +3.38 | buy |
| SCHARF INVESTMENTS, LLC | 4,816,425 | 4,368,770 | -447,655 | 5.71 | 6.39 | +0.69 | sell |
| Invesco Ltd. | 5,406,240 | 4,322,376 | -1,083,864 | 0.05 | 0.04 | -0.00 | sell |
| Alberta Investment Management Corp | 3,807,591 | 4,205,956 | +398,365 | 1.68 | 1.93 | +0.26 | buy |
| TD Waterhouse Canada Inc. | 3,682,976 | 3,745,355 | +62,379 | 1.36 | 1.60 | +0.24 | buy |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 3,213,086 | 3,564,317 | +351,231 | 0.03 | 0.04 | +0.01 | buy |
| Novo Holdings A/S | 3,880,230 | 3,491,230 | -389,000 | 8.69 | 9.22 | +0.53 | sell |
| CI INVESTMENTS INC. | 3,146,221 | 3,462,983 | +316,762 | 0.51 | 0.70 | +0.19 | buy |
| Corient Private Wealth LLC | 3,203,872 | 3,302,253 | +98,381 | 0.23 | 0.28 | +0.04 | buy |
| BESSEMER GROUP INC | 1,301 | 3,185,031 | +3,183,730 | 0.00 | 0.28 | +0.28 | buy |
| CHECK CAPITAL MANAGEMENT INC/CA | 3,050,887 | 3,034,784 | -16,103 | 9.27 | 11.48 | +2.22 | sell |
| NATIONAL BANK OF CANADA /FI/ | 2,321,306 | 2,987,741 | +666,435 | 0.15 | 0.21 | +0.06 | buy |
| WELLS FARGO & COMPANY/MN | 2,926,825 | 2,856,290 | -70,535 | 0.03 | 0.04 | +0.01 | sell |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | 2,928,528 | 2,687,618 | -240,910 | 0.04 | 0.04 | +0.01 | sell |
| Aristotle Capital Management, LLC | 2,750,101 | 2,628,676 | -121,425 | 0.22 | 0.23 | +0.01 | sell |
| FENIMORE ASSET MANAGEMENT INC | 2,613,888 | 2,611,735 | -2,153 | 2.38 | 2.80 | +0.42 | sell |
| AMERIPRISE FINANCIAL INC | 2,867,006 | 2,602,248 | -264,758 | 0.03 | 0.04 | +0.00 | sell |
| CANADA PENSION PLAN INVESTMENT BOARD | 2,568,490 | 2,568,490 | 0 | 0.10 | 0.13 | +0.02 | hold |
| CIBC Private Wealth Group LLC | 2,478,507 | 2,426,472 | -52,035 | 0.20 | 0.23 | +0.03 | sell |
| Bank of New York Mellon Corp | 2,408,969 | 2,370,325 | -38,644 | 0.02 | 0.02 | +0.00 | sell |
| Cardinal Capital Management, Inc. | 2,352,094 | 2,322,064 | -30,030 | 3.76 | 5.09 | +1.33 | sell |
| OMERS ADMINISTRATION Corp | 2,317,789 | 2,317,789 | 0 | 0.93 | 1.13 | +0.21 | hold |
| CAISSE DE DEPOT ET PLACEMENT DU QUEBEC | 2,515,285 | 2,174,000 | -341,285 | 0.25 | 0.23 | -0.02 | sell |
| AGF MANAGEMENT LTD | 2,613,168 | 2,168,017 | -445,151 | 0.61 | 0.59 | -0.02 | sell |
| Cannell & Spears LLC | 1,993,162 | 2,045,905 | +52,743 | 1.72 | 2.14 | +0.42 | buy |
| MCDONALD CAPITAL INVESTORS INC/CA | 2,100,395 | 2,045,138 | -55,257 | 5.45 | 6.67 | +1.22 | sell |
| GUARDIAN CAPITAL LP | 2,264,087 | 1,956,035 | -308,052 | 3.55 | 3.81 | +0.26 | sell |
| BAMCO INC /NY/ | 1,198,746 | 1,949,472 | +750,726 | 0.14 | 0.27 | +0.13 | buy |
| DIMENSIONAL FUND ADVISORS LP | 1,988,491 | 1,882,571 | -105,920 | 0.02 | 0.02 | +0.00 | sell |
| Addenda Capital Inc. | 1,790,787 | 1,881,666 | +90,879 | 3.99 | 4.82 | +0.83 | buy |
| Burgundy Asset Management Ltd. | 1,920,702 | 1,852,540 | -68,162 | 0.84 | 0.97 | +0.13 | sell |
| ENVESTNET ASSET MANAGEMENT INC | 1,763,283 | 1,789,112 | +25,829 | 0.03 | 0.03 | +0.01 | buy |
| Dixon Mitchell Investment Counsel Inc. | 1,742,374 | 1,757,035 | +14,661 | 3.64 | 4.25 | +0.61 | buy |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 1,834,401 | 1,739,450 | -94,951 | 0.02 | 0.02 | +0.00 | sell |
| Clearbridge Investments, LLC | 1,748,176 | 1,716,917 | -31,259 | 0.06 | 0.07 | +0.01 | sell |
| Marathon Asset Management Ltd | 1,720,676 | 1,686,185 | -34,491 | 2.24 | 2.48 | +0.24 | sell |
| M&G Plc | 2,504,753 | 1,620,721 | -884,032 | 0.41 | 0.31 | -0.10 | sell |
| STIFEL FINANCIAL CORP | 1,640,630 | 1,575,280 | -65,350 | 0.08 | 0.09 | +0.01 | sell |
| DEUTSCHE BANK AG\ | 1,367,373 | 1,561,879 | +194,506 | 0.03 | 0.03 | +0.01 | buy |
| Sather Financial Group Inc | 1,539,101 | 1,543,740 | +4,639 | 4.43 | 5.28 | +0.85 | buy |
| Scheer, Rowlett & Associates Investment Management Ltd. | 1,528,080 | 1,495,654 | -32,426 | 4.87 | 5.54 | +0.67 | sell |
| Aviso Financial Inc. | 1,432,323 | 1,471,428 | +39,105 | 3.30 | 3.87 | +0.58 | buy |
| BRUNI J V & CO /CO | 1,497,968 | 1,470,598 | -27,370 | 7.75 | 8.71 | +0.96 | sell |
| Broad Run Investment Management, LLC | 1,381,815 | 1,298,016 | -83,799 | 7.86 | 8.33 | +0.47 | sell |
| MUFG SECURITIES (CANADA), LTD. | 756,221 | 1,277,933 | +521,712 | 2.07 | 3.04 | +0.96 | buy |
| Madison Asset Management, LLC | 1,241,426 | 1,218,119 | -23,307 | 0.64 | 0.73 | +0.09 | sell |
| WELLINGTON MANAGEMENT GROUP LLP | 1,140,365 | 1,170,931 | +30,566 | 0.01 | 0.01 | +0.00 | buy |
| Heritage Wealth Advisors | 1,151,545 | 1,165,797 | +14,252 | 2.16 | 2.91 | +0.75 | buy |
| NEW SOUTH CAPITAL MANAGEMENT INC | 1,083,847 | 1,073,483 | -10,364 | 2.01 | 2.33 | +0.32 | sell |
| HORIZON KINETICS ASSET MANAGEMENT LLC | 1,150,865 | 1,056,706 | -94,159 | 0.84 | 0.84 | +0.01 | sell |
| Blacksheep Fund Management Ltd | 1,627,774 | 1,038,404 | -589,370 | 51.98 | 50.84 | -1.14 | sell |
| GREENLEA LANE CAPITAL MANAGEMENT, LLC | 1,547,135 | 1,036,115 | -511,020 | 17.54 | 16.71 | -0.83 | sell |
| NORTHERN TRUST CORP | 961,611 | 982,828 | +21,217 | 0.01 | 0.01 | +0.00 | buy |
| TORONTO DOMINION BANK | 5,107,125 | 950,200 | -4,156,925 | 0.34 | 0.09 | -0.25 | sell |
| Baskin Financial Services Inc. | 932,007 | 938,058 | +6,051 | 3.32 | 4.08 | +0.76 | buy |
| UBS Group AG | 894,013 | 933,041 | +39,028 | 0.01 | 0.01 | +0.00 | buy |
| AVIVA PLC | 804,692 | 928,282 | +123,590 | 0.09 | 0.13 | +0.04 | buy |
| LINCLUDEN MANAGEMENT LTD | 914,647 | 873,139 | -41,508 | 4.62 | 5.06 | +0.44 | sell |
| Florida Trust Wealth Management Co | 870,355 | 850,278 | -20,077 | 1.24 | 1.45 | +0.21 | sell |
| CITADEL ADVISORS LLC | 803,987 | 825,307 | +21,320 | 0.03 | 0.05 | +0.01 | buy |