| Fund | Previous Shares | Current Shares ▲▼ | Change in Shares ▲▼ | Previous Portfolio Weightage (%) | Current Portfolio Weightage (%) ▲▼ | Change in Weight (%) ▲▼ | Type |
|---|---|---|---|---|---|---|---|
| Partners Value Investments L.P. | 120,937,304 | 120,937,304 | 0 | 75.74 | 76.80 | +1.06 | hold |
| ROYAL BANK OF CANADA | 80,555,118 | 80,891,748 | +336,630 | 0.97 | 0.99 | +0.02 | buy |
| Capital World Investors | 66,689,577 | 68,313,662 | +1,624,085 | 0.60 | 0.64 | +0.04 | buy |
| VANGUARD GROUP INC | 59,661,891 | 60,559,807 | +897,916 | 0.06 | 0.06 | +0.00 | buy |
| PRINCIPAL FINANCIAL GROUP INC | 50,050,474 | 50,849,914 | +799,440 | 1.64 | 1.76 | +0.12 | buy |
| BANK OF MONTREAL /CAN/ | 46,507,392 | 43,677,466 | -2,829,926 | 1.44 | 1.23 | -0.21 | sell |
| Pershing Square Capital Management, L.P. | 41,160,397 | 41,020,231 | -140,166 | 18.54 | 19.21 | +0.67 | sell |
| BROOKFIELD Corp /ON/ | 31,007,384 | 31,007,384 | 0 | 2.33 | 2.48 | +0.14 | hold |
| TD ASSET MANAGEMENT INC | 24,496,650 | 24,439,087 | -57,563 | 1.29 | 1.36 | +0.07 | sell |
| NATIONAL BANK OF CANADA /FI/ | 21,151,700 | 19,959,079 | -1,192,621 | 1.41 | 1.55 | +0.14 | sell |
| AKRE CAPITAL MANAGEMENT LLC | 19,219,290 | 19,215,941 | -3,349 | 11.64 | 13.14 | +1.50 | sell |
| FIL Ltd | 17,051,826 | 16,829,168 | -222,658 | 0.90 | 0.91 | +0.01 | sell |
| 1832 Asset Management L.P. | 18,423,346 | 16,305,509 | -2,117,837 | 1.99 | 1.89 | -0.09 | sell |
| FIRST MANHATTAN CO. LLC. | 16,456,627 | 16,132,576 | -324,051 | 2.87 | 2.92 | +0.05 | sell |
| MACKENZIE FINANCIAL CORP | 16,319,256 | 16,129,049 | -190,207 | 1.31 | 1.34 | +0.03 | sell |
| JARISLOWSKY, FRASER Ltd | 15,506,528 | 14,806,245 | -700,283 | 5.47 | 5.58 | +0.11 | sell |
| CIBC Asset Management Inc | 13,840,255 | 13,235,536 | -604,719 | 2.69 | 2.63 | -0.06 | sell |
| GEODE CAPITAL MANAGEMENT, LLC | 10,882,122 | 12,220,234 | +1,338,112 | 0.05 | 0.05 | +0.01 | buy |
| BANK OF NOVA SCOTIA | 13,263,185 | 12,058,881 | -1,204,304 | 1.68 | 1.46 | -0.22 | sell |
| CIBC WORLD MARKET INC. | 10,955,279 | 11,277,277 | +321,998 | 1.50 | 1.07 | -0.43 | buy |
| FMR LLC | 8,823,540 | 11,190,114 | +2,366,574 | 0.03 | 0.04 | +0.01 | buy |
| LONE PINE CAPITAL LLC | 5,621,385 | 10,181,348 | +4,559,963 | 2.52 | 5.08 | +2.56 | buy |
| Federation des caisses Desjardins du Quebec | 8,718,868 | 8,773,304 | +54,436 | 2.36 | 2.36 | -0.00 | buy |
| MARKEL GROUP INC. | 8,715,741 | 8,715,741 | 0 | 4.56 | 4.85 | +0.29 | hold |
| DAVENPORT & Co LLC | 9,071,969 | 8,488,957 | -583,012 | 3.10 | 3.14 | +0.05 | sell |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | 3,988,658 | 8,449,426 | +4,460,768 | 0.22 | 0.48 | +0.26 | buy |
| BANK OF AMERICA CORP /DE/ | 7,895,098 | 7,971,921 | +76,823 | 0.04 | 0.04 | +0.00 | buy |
| Legal & General Group Plc | 7,048,762 | 7,359,626 | +310,864 | 0.11 | 0.11 | +0.01 | buy |
| SCOTIA CAPITAL INC. | 7,226,323 | 7,343,989 | +117,666 | 2.11 | 2.13 | +0.03 | buy |
| MORGAN STANLEY | 6,745,592 | 7,002,431 | +256,839 | 0.03 | 0.03 | +0.00 | buy |
| GOLDMAN SACHS GROUP INC | 9,466,367 | 6,743,407 | -2,722,960 | 0.09 | 0.07 | -0.03 | sell |
| CANADA PENSION PLAN INVESTMENT BOARD | 6,540,631 | 6,605,000 | +64,369 | 0.35 | 0.32 | -0.03 | buy |
| JPMORGAN CHASE & CO | 5,385,589 | 6,572,428 | +1,186,839 | 0.02 | 0.03 | +0.01 | buy |
| TORONTO DOMINION BANK | 5,345,064 | 6,126,759 | +781,695 | 0.71 | 0.82 | +0.10 | buy |
| REGENTS OF THE UNIVERSITY OF CALIFORNIA | 5,986,137 | 5,986,137 | 0 | 31.37 | 22.29 | -9.09 | hold |
| BAILLIE GIFFORD & CO | 4,764,393 | 4,822,387 | +57,994 | 0.22 | 0.24 | +0.02 | buy |
| Neuberger Berman Group LLC | 4,904,047 | 4,783,470 | -120,577 | 0.23 | 0.24 | +0.01 | sell |
| BESSEMER GROUP INC | 685 | 4,780,045 | +4,779,360 | 0.00 | 0.50 | +0.50 | buy |
| Third Point LLC | 4,675,000 | 4,675,000 | 0 | 3.79 | 3.83 | +0.03 | hold |
| Aristotle Capital Management, LLC | 4,486,802 | 4,385,073 | -101,729 | 0.53 | 0.58 | +0.05 | sell |
| TD Waterhouse Canada Inc. | 3,671,254 | 3,848,049 | +176,795 | 1.63 | 1.70 | +0.08 | buy |
| Soroban Capital Partners LP | 7,534,534 | 3,830,352 | -3,704,182 | 4.55 | 1.44 | -3.11 | sell |
| Corient Private Wealth LLC | 3,231,757 | 3,492,187 | +260,430 | 0.27 | 0.38 | +0.11 | buy |
| Invesco Ltd. | 3,816,856 | 3,298,331 | -518,525 | 0.04 | 0.04 | -0.00 | sell |
| Beutel, Goodman & Co Ltd. | 5,043,131 | 3,108,035 | -1,935,096 | 1.77 | 1.28 | -0.49 | sell |
| CHECK CAPITAL MANAGEMENT INC/CA | 2,943,591 | 2,929,168 | -14,423 | 12.00 | 12.72 | +0.72 | sell |
| WELLS FARGO & COMPANY/MN | 3,130,479 | 2,919,401 | -211,078 | 0.04 | 0.04 | -0.00 | sell |
| Connor, Clark & Lunn Investment Management Ltd. | 4,815,629 | 2,897,507 | -1,918,122 | 1.05 | 0.63 | -0.42 | sell |
| WELLINGTON MANAGEMENT GROUP LLP | 1,193,906 | 2,891,925 | +1,698,019 | 0.01 | 0.03 | +0.02 | buy |
| CI INVESTMENTS INC. | 3,074,328 | 2,770,941 | -303,387 | 0.71 | 0.69 | -0.02 | sell |
| CAISSE DE DEPOT ET PLACEMENT DU QUEBEC | 2,009,893 | 2,740,288 | +730,395 | 0.27 | 0.34 | +0.07 | buy |
| SCHARF INVESTMENTS, LLC | 2,823,153 | 2,629,310 | -193,843 | 5.03 | 4.53 | -0.50 | sell |
| PICTON MAHONEY ASSET MANAGEMENT | 2,280,199 | 2,629,023 | +348,824 | 1.98 | 2.30 | +0.32 | buy |
| FENIMORE ASSET MANAGEMENT INC | 2,592,645 | 2,575,076 | -17,569 | 3.20 | 3.54 | +0.34 | sell |
| CIBC Private Wealth Group LLC | 2,485,506 | 2,490,688 | +5,182 | 0.27 | 0.29 | +0.02 | buy |
| BAMCO INC /NY/ | 2,510,075 | 2,402,280 | -107,795 | 0.42 | 0.44 | +0.02 | sell |
| MUFG SECURITIES (CANADA), LTD. | 2,431,272 | 2,379,875 | -51,397 | 4.57 | 4.56 | -0.01 | sell |
| Alberta Investment Management Corp | 2,919,268 | 2,364,068 | -555,200 | 1.42 | 1.18 | -0.24 | sell |
| COOKE & BIELER LP | 3,517,196 | 2,354,323 | -1,162,873 | 2.18 | 1.67 | -0.51 | sell |
| DEUTSCHE BANK AG\ | 2,127,211 | 2,350,430 | +223,219 | 0.05 | 0.05 | +0.01 | buy |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | 2,502,281 | 2,337,893 | -164,388 | 0.05 | 0.05 | +0.00 | sell |
| Novo Holdings A/S | 2,330,830 | 2,330,830 | 0 | 10.18 | 10.30 | +0.13 | hold |
| OMERS ADMINISTRATION Corp | 2,317,789 | 2,317,789 | 0 | 1.13 | 1.14 | +0.01 | hold |
| Cardinal Capital Management, Inc. | 2,208,764 | 2,164,145 | -44,619 | 4.28 | 4.29 | +0.01 | sell |
| Clearbridge Investments, LLC | 2,001,501 | 1,958,211 | -43,290 | 0.10 | 0.07 | -0.03 | sell |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | 0 | 1,954,900 | +1,954,900 | 0.00 | 0.25 | +0.25 | buy |
| MCDONALD CAPITAL INVESTORS INC/CA | 1,941,092 | 1,879,927 | -61,165 | 7.54 | 8.01 | +0.48 | sell |
| Cannell & Spears LLC | 1,865,289 | 1,803,463 | -61,826 | 2.33 | 2.33 | +0.00 | sell |
| Aristotle Capital Management, LLC | 2,303,751 | 1,782,764 | -520,987 | 0.33 | 0.29 | -0.04 | sell |
| GUARDIAN CAPITAL LP | 1,739,726 | 1,743,597 | +3,871 | 3.80 | 3.86 | +0.07 | buy |
| UBS Group AG | 2,039,828 | 1,740,454 | -299,374 | 0.03 | 0.02 | -0.00 | sell |
| ENVESTNET ASSET MANAGEMENT INC | 1,701,374 | 1,709,236 | +7,862 | 0.03 | 0.03 | +0.00 | buy |
| HORIZON KINETICS ASSET MANAGEMENT LLC | 1,173,001 | 1,649,271 | +476,270 | 0.86 | 0.92 | +0.06 | buy |
| NORTHERN TRUST CORP | 1,581,200 | 1,622,205 | +41,005 | 0.01 | 0.01 | +0.00 | buy |
| STIFEL FINANCIAL CORP | 1,592,261 | 1,614,405 | +22,144 | 0.10 | 0.10 | +0.01 | buy |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp | 1,244,218 | 1,610,707 | +366,489 | 0.45 | 0.63 | +0.18 | buy |
| Dixon Mitchell Investment Counsel Inc. | 1,711,455 | 1,606,322 | -105,133 | 4.11 | 3.92 | -0.19 | sell |
| AGF MANAGEMENT LTD | 2,438,241 | 1,571,255 | -866,986 | 0.69 | 0.48 | -0.21 | sell |
| Scheer, Rowlett & Associates Investment Management Ltd. | 1,592,795 | 1,564,730 | -28,065 | 6.39 | 6.40 | +0.01 | sell |
| RAYMOND JAMES FINANCIAL INC | 1,394,682 | 1,531,489 | +136,807 | 0.03 | 0.03 | +0.00 | buy |
| Capital Research Global Investors | 0 | 1,452,739 | +1,452,739 | 0.00 | 0.02 | +0.02 | buy |
| AMERIPRISE FINANCIAL INC | 1,639,635 | 1,447,497 | -192,138 | 0.03 | 0.02 | -0.00 | sell |
| Sather Financial Group Inc | 1,428,872 | 1,425,054 | -3,818 | 5.19 | 5.31 | +0.12 | sell |
| BRUNI J V & CO /CO | 1,442,583 | 1,419,744 | -22,839 | 9.39 | 9.83 | +0.44 | sell |
| Aviso Financial Inc. | 1,387,983 | 1,402,621 | +14,638 | 3.87 | 3.91 | +0.04 | buy |
| Marathon Asset Management Ltd | 1,473,859 | 1,390,733 | -83,126 | 2.92 | 3.51 | +0.59 | sell |
| DIMENSIONAL FUND ADVISORS LP | 1,341,015 | 1,387,618 | +46,603 | 0.02 | 0.02 | +0.00 | buy |
| Addenda Capital Inc. | 1,391,329 | 1,386,649 | -4,680 | 4.21 | 3.92 | -0.29 | sell |
| Amundi | 1,335,834 | 1,348,087 | +12,253 | 0.03 | 0.03 | +0.00 | buy |
| Bank of New York Mellon Corp | 1,280,869 | 1,293,843 | +12,974 | 0.01 | 0.02 | +0.00 | buy |
| River Road Asset Management, LLC | 453,922 | 1,293,145 | +839,223 | 0.39 | 0.99 | +0.61 | buy |
| M&G Plc | 1,223,543 | 1,144,336 | -79,207 | 0.42 | 0.42 | +0.00 | sell |
| Madison Asset Management, LLC | 1,169,057 | 1,120,935 | -48,122 | 0.78 | 0.85 | +0.07 | sell |
| Burgundy Asset Management Ltd. | 1,114,437 | 1,110,869 | -3,568 | 0.67 | 0.69 | +0.02 | sell |
| Heritage Wealth Advisors | 1,097,631 | 1,092,033 | -5,598 | 3.22 | 3.28 | +0.05 | sell |
| AVIVA PLC | 1,056,029 | 1,090,785 | +34,756 | 0.13 | 0.14 | +0.00 | buy |
| Focus Partners Wealth | 1,017,483 | 1,019,455 | +1,972 | 0.14 | 0.11 | -0.02 | buy |
| Partners Group Holding AG | 655,233 | 968,546 | +313,313 | 1.91 | 3.69 | +1.78 | buy |
| GREENLEA LANE CAPITAL MANAGEMENT, LLC | 952,215 | 952,215 | 0 | 16.57 | 19.04 | +2.47 | hold |
| Korea Investment CORP | 961,567 | 948,504 | -13,063 | 0.13 | 0.13 | +0.00 | sell |