EdgePoint Investment Group Inc. Activity Q4 2011-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
MAT	Sell	MATTEL INC	$919,430,994	+4.1%	41,735,406	-7.7%	8.78%	+10.6%
QSR	Sell	RESTAURANT BRANDS INTL INC	$902,072,485	-14.2%	13,546,795	-0.1%	8.62%	-8.8%
BERY	Sell	BERRY GLOBAL GROUP INC	$762,020,349	-7.3%	12,308,518	-3.6%	7.28%	-1.4%
DLTR	Buy	DOLLAR TREE INC	$729,806,723	-8.6%	6,855,864	+23.2%	6.97%	-2.8%
	Buy	RB GLOBAL INC	$522,917,883	+15.7%	8,352,451	+11.0%	4.99%	+23.0%
	Sell	BROOKFIELD CORPcl a ltd vt sh	$520,078,773	-12.6%	16,633,765	-5.8%	4.97%	-7.1%
ANTM	Buy	ELEVANCE HEALTH INC	$503,031,147	-1.4%	1,155,278	+0.6%	4.80%	+4.8%
ROST	Sell	ROSS STORES INC	$464,388,165	-1.5%	4,111,449	-2.2%	4.44%	+4.7%
TEL	Sell	TE CONNECTIVITY LTD	$420,960,469	-17.3%	3,407,759	-6.2%	4.02%	-12.1%
CDAY	Buy	CERIDIAN HCM HLDG INC	$392,533,216	+110.7%	5,785,309	+108.0%	3.75%	+124.0%
	Sell	APOLLO GLOBAL MGMT INC	$365,936,889	+5.0%	4,076,837	-10.2%	3.50%	+11.6%
NSC	Buy	NORFOLK SOUTHN CORP	$335,686,287	+410.5%	1,704,597	+487.8%	3.21%	+442.5%
QCOM	Buy	QUALCOMM INC	$330,538,771	+2.6%	2,976,218	+10.0%	3.16%	+9.1%
GNTX	Buy	GENTEX CORP	$282,683,831	+11.5%	8,687,272	+0.3%	2.70%	+18.5%
OR	Buy	OSISKO GOLD ROYALTIES LTD	$282,175,224	-16.5%	24,030,449	+9.3%	2.70%	-11.3%
MIDD	Buy	MIDDLEBY CORP	$267,585,536	-9.5%	2,090,512	+4.6%	2.56%	-3.7%
LECO	Sell	LINCOLN ELEC HLDGS INC	$250,736,948	-19.0%	1,379,267	-11.5%	2.40%	-13.9%
AMG	Sell	AFFILIATED MANAGERS GROUP IN	$238,844,661	-39.7%	1,832,474	-30.7%	2.28%	-35.9%
FNV	Sell	FRANCO NEV CORP	$219,943,515	-8.3%	1,647,575	-2.0%	2.10%	-2.5%
PSMT	Buy	PRICESMART INC	$198,859,246	+1.2%	2,671,762	+0.7%	1.90%	+7.5%
CNQ	Sell	CANADIAN NAT RES LTD	$194,175,143	-22.5%	3,002,652	-32.6%	1.86%	-17.6%
GOLD	Buy	BARRICK GOLD CORP	$190,376,659	-6.8%	13,106,608	+8.6%	1.82%	-1.0%
CZR	Buy	CAESARS ENTERTAINMENT INC NE	$186,883,617	+11.4%	4,032,009	+22.5%	1.78%	+18.4%
	Buy	WARNER BROS DISCOVERY INC	$186,068,952	-5.5%	17,133,421	+9.1%	1.78%	+0.5%
JLL	Buy	JONES LANG LASALLE INC	$141,026,961	+14.6%	998,916	+26.5%	1.35%	+21.9%
AME	Buy	AMETEK INC	$137,393,454	-8.2%	929,842	+0.6%	1.31%	-2.5%
EFX	Sell	EQUIFAX INC	$119,156,941	-50.6%	650,491	-36.5%	1.14%	-47.5%
	Sell	ATS CORPORATION	$88,298,880	-11.8%	2,071,478	-4.7%	0.84%	-6.2%
AQN	Sell	ALGONQUIN PWR UTILS CORP	$71,953,604	-40.3%	12,156,266	-16.6%	0.69%	-36.6%
HBM	Sell	HUDBAY MINERALS INC	$40,080,496	-21.3%	8,236,360	-22.5%	0.38%	-16.4%
	Buy	BLEND LABS INCcl a	$16,848,815	+45.7%	12,298,405	+0.7%	0.16%	+54.8%
PDS	Sell	PRECISION DRILLING CORP	$6,209,578	+16.2%	92,678	-15.2%	0.06%	+22.9%
	New	HAMMERHEAD ENERGY INC	$3,699,254	–	310,080	–	0.04%	–
IFF	Buy	INTERNATIONAL FLAVORS&FRAGRA	$2,780,041	+246.3%	40,781	+304.3%	0.03%	+285.7%
	Exit	HAMMERHEAD ENERGY INC*w exp 02/23/202	$0	–	-1,047,570	–	-0.01%	–
SAND	Exit	SANDSTORM GOLD LTD	$0	–	-2,667,906	–	-0.12%	–
WLTW	Exit	WILLIS TOWERS WATSON PLC LTD	$0	–	-1,062,644	–	-2.25%	–

Q2 2023

			Value		Shares		↓ Weighting
QSR	New	RESTAURANT BRANDS INTL INC	$1,051,169,381	–	13,554,364	–	9.44%	–
MAT	New	MATTEL INC	$883,450,238	–	45,212,397	–	7.94%	–
BERY	New	BERRY GLOBAL GROUP INC	$821,794,167	–	12,772,679	–	7.38%	–
DLTR	New	DOLLAR TREE INC	$798,338,720	–	5,563,336	–	7.17%	–
	New	BROOKFIELD CORPcl a ltd vt sh	$594,944,334	–	17,666,912	–	5.35%	–
ANTM	New	ELEVANCE HEALTH INC	$510,359,921	–	1,148,709	–	4.59%	–
TEL	New	TE CONNECTIVITY LTD	$509,039,675	–	3,631,847	–	4.57%	–
ROST	New	ROSS STORES INC	$471,234,286	–	4,202,571	–	4.23%	–
	New	RB GLOBAL INC	$451,891,172	–	7,528,109	–	4.06%	–
AMG	New	AFFILIATED MANAGERS GROUP IN	$396,298,219	–	2,643,927	–	3.56%	–
	New	APOLLO GLOBAL MGMT INC	$348,531,136	–	4,537,575	–	3.13%	–
OR	New	OSISKO GOLD ROYALTIES LTD	$337,983,394	–	21,985,521	–	3.04%	–
QCOM	New	QUALCOMM INC	$322,129,501	–	2,706,061	–	2.89%	–
LECO	New	LINCOLN ELEC HLDGS INC	$309,675,095	–	1,559,055	–	2.78%	–
MIDD	New	MIDDLEBY CORP	$295,525,623	–	1,999,091	–	2.66%	–
GNTX	New	GENTEX CORP	$253,517,769	–	8,664,312	–	2.28%	–
CNQ	New	CANADIAN NAT RES LTD	$250,453,953	–	4,455,954	–	2.25%	–
WLTW	New	WILLIS TOWERS WATSON PLC LTD	$250,252,664	–	1,062,644	–	2.25%	–
EFX	New	EQUIFAX INC	$241,214,030	–	1,025,134	–	2.17%	–
FNV	New	FRANCO NEV CORP	$239,772,449	–	1,681,874	–	2.15%	–
GOLD	New	BARRICK GOLD CORP	$204,352,847	–	12,066,202	–	1.84%	–
	New	WARNER BROS DISCOVERY INC	$196,898,364	–	15,701,624	–	1.77%	–
PSMT	New	PRICESMART INC	$196,541,317	–	2,653,812	–	1.77%	–
CDAY	New	CERIDIAN HCM HLDG INC	$186,312,683	–	2,782,032	–	1.67%	–
CZR	New	CAESARS ENTERTAINMENT INC NE	$167,724,838	–	3,290,658	–	1.51%	–
AME	New	AMETEK INC	$149,646,404	–	924,428	–	1.34%	–
JLL	New	JONES LANG LASALLE INC	$123,037,909	–	789,717	–	1.10%	–
AQN	New	ALGONQUIN PWR UTILS CORP	$120,493,713	–	14,573,687	–	1.08%	–
	New	ATS CORPORATION	$100,079,771	–	2,174,662	–	0.90%	–
NSC	New	NORFOLK SOUTHN CORP	$65,760,400	–	290,000	–	0.59%	–
BB	New	BLACKBERRY LTD	$56,120,889	–	10,148,443	–	0.50%	–
TCX	New	TUCOWS INC	$55,894,955	–	2,023,156	–	0.50%	–
HBM	New	HUDBAY MINERALS INC	$50,925,484	–	10,621,372	–	0.46%	–
GIL	New	GILDAN ACTIVEWEAR INC	$47,719,814	–	1,479,750	–	0.43%	–
	New	DISH NETWORK CORPORATIONnote 3.375% 8/1	$14,766,510	–	29,000,000	–	0.13%	–
SAND	New	SANDSTORM GOLD LTD	$13,677,954	–	2,667,906	–	0.12%	–
	New	BLEND LABS INCcl a	$11,563,509	–	12,208,096	–	0.10%	–
CVE	New	CENOVUS ENERGY INC	$9,223,693	–	542,927	–	0.08%	–
	New	DISH NETWORK CORPORATIONnote 12/1	$7,405,580	–	14,000,000	–	0.07%	–
PDS	New	PRECISION DRILLING CORP	$5,343,402	–	109,328	–	0.05%	–
	New	BROOKFIELD ASSET MANAGMT LTD	$4,806,614	–	147,222	–	0.04%	–
BTI	New	BRITISH AMERN TOB PLCsponsored adr	$1,630,153	–	49,101	–	0.02%	–
	New	HAMMERHEAD ENERGY INC*w exp 02/23/202	$1,477,073	–	1,047,570	–	0.01%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA	$802,745	–	10,086	–	0.01%	–

Q4 2022

			Value		Shares		↓ Weighting
NESRW	Exit	NATIONAL ENERGY SERVICES REU*w exp 06/06/202	$0	–	-1,000,000	–	-0.00%	–
FYBR	Exit	FRONTIER COMMUNICATIONS PARE	$0	–	-9,684	–	-0.00%	–
BTI	Exit	BRITISH AMERN TOB PLCsponsored adr	$0	–	-49,101	–	-0.02%	–
	Exit	DIGITALBRIDGE GROUP INCnote 5.000% 4/1	$0	–	-5,290,000	–	-0.06%	–
CVE	Exit	CENOVUS ENERGY INC	$0	–	-361,309	–	-0.06%	–
	Exit	IMAX CORPnote 0.500% 4/0	$0	–	-10,000,000	–	-0.09%	–
	Exit	DISH NETWORK CORPORATIONnote 12/1	$0	–	-14,000,000	–	-0.10%	–
NGD	Exit	NEW GOLD INC CDA	$0	–	-10,734,425	–	-0.11%	–
AMYT	Exit	AMRYT PHARMA PLCsponsored ads	$0	–	-2,277,964	–	-0.18%	–
	Exit	DISH NETWORK CORPORATIONnote 3.375% 8/1	$0	–	-27,500,000	–	-0.21%	–
HBM	Exit	HUDBAY MINERALS INC	$0	–	-7,815,423	–	-0.35%	–
XM	Exit	QUALTRICS INTL INC	$0	–	-4,160,259	–	-0.47%	–
GIL	Exit	GILDAN ACTIVEWEAR INC	$0	–	-1,529,681	–	-0.48%	–
MSI	Exit	MOTOROLA SOLUTIONS INC	$0	–	-236,387	–	-0.59%	–
TCX	Exit	TUCOWS INC	$0	–	-1,446,019	–	-0.61%	–
BSM	Exit	BLACK STONE MINERALS L P	$0	–	-3,618,261	–	-0.63%	–
FLS	Exit	FLOWSERVE CORP	$0	–	-2,483,476	–	-0.68%	–
DISH	Exit	DISH NETWORK CORPORATIONcl a	$0	–	-7,216,449	–	-1.12%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-1,298,169	–	-1.16%	–
PCG	Exit	PG&E CORP	$0	–	-9,722,156	–	-1.36%	–
SBNY	Exit	SIGNATURE BK NEW YORK N Y	$0	–	-840,039	–	-1.42%	–
IFF	Exit	INTERNATIONAL FLAVORS&FRAGRA	$0	–	-1,565,047	–	-1.59%	–
CNQ	Exit	CANADIAN NAT RES LTD	$0	–	-3,379,629	–	-1.76%	–
SE	Exit	SEA LTDsponsord ads	$0	–	-3,262,384	–	-2.05%	–
PSMT	Exit	PRICESMART INC	$0	–	-3,185,710	–	-2.05%	–
UNVR	Exit	UNIVAR SOLUTIONS INC	$0	–	-8,076,556	–	-2.06%	–
AME	Exit	AMETEK INC	$0	–	-1,643,475	–	-2.08%	–
GNTX	Exit	GENTEX CORP	$0	–	-8,610,046	–	-2.30%	–
FNV	Exit	FRANCO NEV CORP	$0	–	-1,775,926	–	-2.38%	–
OR	Exit	OSISKO GOLD ROYALTIES LTD	$0	–	-21,536,465	–	-2.46%	–
ARMK	Exit	ARAMARK	$0	–	-9,280,433	–	-3.24%	–
MIDD	Exit	MIDDLEBY CORP	$0	–	-2,293,777	–	-3.29%	–
FIS	Exit	FIDELITY NATL INFORMATION SV	$0	–	-3,978,133	–	-3.36%	–
BAM	Exit	BROOKFIELD ASSET MGMT INCcl a ltd vt sh	$0	–	-7,930,075	–	-3.64%	–
	Exit	APOLLO GLOBAL MGMT INC	$0	–	-7,004,048	–	-3.64%	–
ROST	Exit	ROSS STORES INC	$0	–	-4,205,299	–	-3.96%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-3,683,602	–	-4.55%	–
WLTW	Exit	WILLIS TOWERS WATSON PLC LTD	$0	–	-2,163,247	–	-4.86%	–
AMG	Exit	AFFILIATED MANAGERS GROUP IN	$0	–	-4,238,169	–	-5.30%	–
ANTM	Exit	ELEVANCE HEALTH INC	$0	–	-1,203,162	–	-6.12%	–
DLTR	Exit	DOLLAR TREE INC	$0	–	-4,574,068	–	-6.96%	–
MAT	Exit	MATTEL INC	$0	–	-33,287,707	–	-7.05%	–
BERY	Exit	BERRY GLOBAL GROUP INC	$0	–	-13,905,037	–	-7.24%	–
QSR	Exit	RESTAURANT BRANDS INTL INC	$0	–	-13,926,969	–	-8.31%	–

Q3 2022

			Value		Shares		↓ Weighting
QSR	Sell	RESTAURANT BRANDS INTL INC	$743,015,000	-17.0%	13,926,969	-22.3%	8.31%	+4.0%
BERY	Sell	BERRY GLOBAL GROUP INC	$647,001,000	-26.4%	13,905,037	-13.5%	7.24%	-7.8%
MAT	Sell	MATTEL INC	$630,469,000	-21.0%	33,287,707	-6.8%	7.05%	-1.0%
DLTR	Sell	DOLLAR TREE INC	$622,531,000	-23.1%	4,574,068	-11.9%	6.96%	-3.7%
ANTM	Sell	ELEVANCE HEALTH INC	$546,524,000	-28.2%	1,203,162	-23.8%	6.12%	-10.1%
AMG	Sell	AFFILIATED MANAGERS GROUP IN	$474,039,000	-17.8%	4,238,169	-14.3%	5.30%	+3.0%
WLTW	Sell	WILLIS TOWERS WATSON PLC LTD	$434,683,000	-15.9%	2,163,247	-17.4%	4.86%	+5.4%
TEL	Sell	TE CONNECTIVITY LTD	$406,522,000	-13.2%	3,683,602	-11.0%	4.55%	+8.8%
ROST	Sell	ROSS STORES INC	$354,381,000	+11.8%	4,205,299	-6.8%	3.96%	+40.1%
	Sell	APOLLO GLOBAL MGMT INC	$325,688,000	-16.8%	7,004,048	-13.3%	3.64%	+4.2%
BAM	Sell	BROOKFIELD ASSET MGMT INCcl a ltd vt sh	$325,368,000	-17.9%	7,930,075	-11.3%	3.64%	+2.9%
FIS	Sell	FIDELITY NATL INFORMATION SV	$300,628,000	-30.6%	3,978,133	-15.8%	3.36%	-13.1%
MIDD	Sell	MIDDLEBY CORP	$293,993,000	-10.4%	2,293,777	-12.4%	3.29%	+12.2%
ARMK	Sell	ARAMARK	$289,550,000	-20.6%	9,280,433	-22.0%	3.24%	-0.5%
OR	Buy	OSISKO GOLD ROYALTIES LTD	$220,009,000	+17.9%	21,536,465	+15.9%	2.46%	+47.7%
FNV	Buy	FRANCO NEV CORP	$212,755,000	-5.2%	1,775,926	+3.7%	2.38%	+18.8%
GNTX	Sell	GENTEX CORP	$205,263,000	-20.9%	8,610,046	-7.1%	2.30%	-0.9%
AME	Sell	AMETEK INC	$186,387,000	-15.8%	1,643,475	-18.4%	2.08%	+5.4%
UNVR	Sell	UNIVAR SOLUTIONS INC	$183,661,000	-20.2%	8,076,556	-12.7%	2.06%	0.0%
PSMT	Sell	PRICESMART INC	$183,465,000	-30.0%	3,185,710	-12.9%	2.05%	-12.3%
SE	Buy	SEA LTDsponsord ads	$182,857,000	+22.0%	3,262,384	+45.6%	2.05%	+52.8%
CNQ	Buy	CANADIAN NAT RES LTD	$157,780,000	+1590.2%	3,379,629	+1837.5%	1.76%	+2026.5%
IFF	Sell	INTERNATIONAL FLAVORS&FRAGRA	$142,153,000	-62.1%	1,565,047	-50.3%	1.59%	-52.5%
SBNY	New	SIGNATURE BK NEW YORK N Y	$126,846,000	–	840,039	–	1.42%	–
PCG	Sell	PG&E CORP	$121,527,000	-39.6%	9,722,156	-51.8%	1.36%	-24.4%
BABA	Sell	ALIBABA GROUP HLDG LTDsponsored ads	$103,841,000	-38.3%	1,298,169	-12.3%	1.16%	-22.7%
DISH	Sell	DISH NETWORK CORPORATIONcl a	$99,803,000	-28.5%	7,216,449	-7.3%	1.12%	-10.4%
FLS	Sell	FLOWSERVE CORP	$60,348,000	-73.2%	2,483,476	-68.4%	0.68%	-66.4%
TCX	Buy	TUCOWS INC	$54,490,000	-6.8%	1,446,019	+9.6%	0.61%	+16.9%
MSI	Sell	MOTOROLA SOLUTIONS INC	$52,944,000	-82.6%	236,387	-83.7%	0.59%	-78.2%
XM	New	QUALTRICS INTL INC	$42,351,000	–	4,160,259	–	0.47%	–
HBM	New	HUDBAY MINERALS INC	$31,550,000	–	7,815,423	–	0.35%	–
	New	DISH NETWORK CORPORATIONnote 3.375% 8/1	$19,061,000	–	27,500,000	–	0.21%	–
NGD	New	NEW GOLD INC CDA	$9,586,000	–	10,734,425	–	0.11%	–
	New	DISH NETWORK CORPORATIONnote 12/1	$9,225,000	–	14,000,000	–	0.10%	–
	New	IMAX CORPnote 0.500% 4/0	$8,409,000	–	10,000,000	–	0.09%	–
CVE	Buy	CENOVUS ENERGY INC	$5,567,000	+15.4%	361,309	+41.9%	0.06%	+44.2%
	New	DIGITALBRIDGE GROUP INCnote 5.000% 4/1	$5,211,000	–	5,290,000	–	0.06%	–
FYBR	Sell	FRONTIER COMMUNICATIONS PARE	$227,000	-46.5%	9,684	-46.2%	0.00%	-25.0%
CVEWS	Exit	CENOVUS ENERGY INC*w exp 01/01/202	$0	–	-325,596	–	-0.04%	–
	Exit	DIGITALBRIDGE GROUP INCnote 5.000% 4/1	$0	–	-5,290,000	–	-0.05%	–
TRQ	Exit	TURQUOISE HILL RES LTD	$0	–	-283,925	–	-0.07%	–
RMR	Exit	RMR GROUP INCcl a	$0	–	-275,853	–	-0.07%	–
	Exit	IMAX CORPnote 0.500% 4/0	$0	–	-10,000,000	–	-0.08%	–
	Exit	DISH NETWORK CORPORATIONnote 12/1	$0	–	-14,000,000	–	-0.09%	–
	Exit	DISH NETWORK CORPORATIONnote 3.375% 8/1	$0	–	-23,000,000	–	-0.14%	–
TD	Exit	TORONTO DOMINION BK ONT	$0	–	-1,069,061	–	-0.62%	–

Q2 2022

			Value		Shares		↓ Weighting
QSR	New	RESTAURANT BRANDS INTL INC	$895,032,000	–	17,915,882	–	8.00%	–
BERY	New	BERRY GLOBAL GROUP INC	$878,550,000	–	16,078,878	–	7.85%	–
DLTR	New	DOLLAR TREE INC	$809,322,000	–	5,192,955	–	7.23%	–
MAT	New	MATTEL INC	$797,908,000	–	35,732,556	–	7.13%	–
ANTM	New	ELEVANCE HEALTH INC	$761,485,000	–	1,577,946	–	6.80%	–
AMG	New	AFFILIATED MANAGERS GROUP IN	$576,573,000	–	4,944,883	–	5.15%	–
WLTW	New	WILLIS TOWERS WATSON PLC LTD	$516,774,000	–	2,618,034	–	4.62%	–
TEL	New	TE CONNECTIVITY LTD	$468,169,000	–	4,137,596	–	4.18%	–
FIS	New	FIDELITY NATL INFORMATION SV	$433,195,000	–	4,725,589	–	3.87%	–
BAM	New	BROOKFIELD ASSET MGMT INCcl a ltd vt sh	$396,132,000	–	8,941,688	–	3.54%	–
	New	APOLLO GLOBAL MGMT INC	$391,592,000	–	8,077,402	–	3.50%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA	$375,056,000	–	3,148,555	–	3.35%	–
ARMK	New	ARAMARK	$364,569,000	–	11,902,351	–	3.26%	–
MIDD	New	MIDDLEBY CORP	$328,132,000	–	2,617,520	–	2.93%	–
ROST	New	ROSS STORES INC	$316,836,000	–	4,511,410	–	2.83%	–
MSI	New	MOTOROLA SOLUTIONS INC	$303,480,000	–	1,447,901	–	2.71%	–
PSMT	New	PRICESMART INC	$261,971,000	–	3,657,283	–	2.34%	–
GNTX	New	GENTEX CORP	$259,361,000	–	9,272,815	–	2.32%	–
UNVR	New	UNIVAR SOLUTIONS INC	$230,090,000	–	9,251,709	–	2.06%	–
FLS	New	FLOWSERVE CORP	$224,836,000	–	7,853,177	–	2.01%	–
FNV	New	FRANCO NEV CORP	$224,438,000	–	1,713,241	–	2.00%	–
AME	New	AMETEK INC	$221,401,000	–	2,014,750	–	1.98%	–
PCG	New	PG&E CORP	$201,320,000	–	20,172,352	–	1.80%	–
OR	New	OSISKO GOLD ROYALTIES LTD	$186,655,000	–	18,586,373	–	1.67%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$168,235,000	–	1,479,897	–	1.50%	–
SE	New	SEA LTDsponsord ads	$149,851,000	–	2,241,270	–	1.34%	–
DISH	New	DISH NETWORK CORPORATIONcl a	$139,606,000	–	7,786,162	–	1.25%	–
TD	New	TORONTO DOMINION BK ONT	$69,818,000	–	1,069,061	–	0.62%	–
TCX	New	TUCOWS INC	$58,468,000	–	1,319,310	–	0.52%	–
BSM	New	BLACK STONE MINERALS L P	$49,534,000	–	3,618,261	–	0.44%	–
GIL	New	GILDAN ACTIVEWEAR INC	$43,849,000	–	1,529,681	–	0.39%	–
AMYT	New	AMRYT PHARMA PLCsponsored ads	$15,923,000	–	2,277,964	–	0.14%	–
	New	DISH NETWORK CORPORATIONnote 3.375% 8/1	$15,428,000	–	23,000,000	–	0.14%	–
	New	DISH NETWORK CORPORATIONnote 12/1	$9,865,000	–	14,000,000	–	0.09%	–
CNQ	New	CANADIAN NAT RES LTD	$9,335,000	–	174,435	–	0.08%	–
	New	IMAX CORPnote 0.500% 4/0	$8,775,000	–	10,000,000	–	0.08%	–
RMR	New	RMR GROUP INCcl a	$7,820,000	–	275,853	–	0.07%	–
TRQ	New	TURQUOISE HILL RES LTD	$7,574,000	–	283,925	–	0.07%	–
	New	DIGITALBRIDGE GROUP INCnote 5.000% 4/1	$5,197,000	–	5,290,000	–	0.05%	–
CVE	New	CENOVUS ENERGY INC	$4,826,000	–	254,691	–	0.04%	–
CVEWS	New	CENOVUS ENERGY INC*w exp 01/01/202	$4,512,000	–	325,596	–	0.04%	–
BTI	New	BRITISH AMERN TOB PLCsponsored adr	$2,107,000	–	49,101	–	0.02%	–
FYBR	New	FRONTIER COMMUNICATIONS PARE	$424,000	–	18,010	–	0.00%	–
NESRW	New	NATIONAL ENERGY SERVICES REU*w exp 06/06/202	$199,000	–	1,000,000	–	0.00%	–

Q4 2021

			Value		Shares		↓ Weighting
CPG	Exit	CRESCENT PT ENERGY CORP	$0	–	-444,537	–	-0.02%	–
NESRW	Exit	NATIONAL ENERGY SERVICES REU*w exp 05/05/202	$0	–	-1,000,000	–	-0.02%	–
CVEWS	Exit	CENOVUS ENERGY INC*w exp 01/01/202	$0	–	-522,726	–	-0.02%	–
CVE	Exit	CENOVUS ENERGY INC	$0	–	-495,012	–	-0.04%	–
TCX	Exit	TUCOWS INC	$0	–	-68,700	–	-0.04%	–
CNQ	Exit	CANADIAN NAT RES LTD	$0	–	-213,328	–	-0.06%	–
RMR	Exit	RMR GROUP INCcl a	$0	–	-275,853	–	-0.07%	–
	Exit	DIGITALBRIDGE GROUP INCnote 5.000% 4/1	$0	–	-12,600,000	–	-0.10%	–
SATS	Exit	ECHOSTAR CORPcl a	$0	–	-552,808	–	-0.11%	–
AMYT	Exit	AMRYT PHARMA PLCsponsored ads	$0	–	-2,277,964	–	-0.21%	–
BSM	Exit	BLACK STONE MINERALS L P	$0	–	-3,618,261	–	-0.34%	–
GIL	Exit	GILDAN ACTIVEWEAR INC	$0	–	-1,534,467	–	-0.43%	–
CP	Exit	CANADIAN PAC RY LTD	$0	–	-1,125,109	–	-0.57%	–
TAC	Exit	TRANSALTA CORP	$0	–	-7,510,477	–	-0.61%	–
TD	Exit	TORONTO DOMINION BK ONT	$0	–	-1,385,859	–	-0.71%	–
AME	Exit	AMETEK INC	$0	–	-971,885	–	-0.93%	–
GNTX	Exit	GENTEX CORP	$0	–	-3,936,972	–	-1.00%	–
PCG	Exit	PG&E CORP	$0	–	-13,634,431	–	-1.01%	–
OR	Exit	OSISKO GOLD ROYALTIES LTD	$0	–	-14,005,547	–	-1.21%	–
FNV	Exit	FRANCO NEV CORP	$0	–	-1,673,188	–	-1.67%	–
DISH	Exit	DISH NETWORK CORPORATIONcl a	$0	–	-5,239,302	–	-1.76%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-1,650,110	–	-1.89%	–
BAC	Exit	BK OF AMERICA CORP	$0	–	-6,859,259	–	-2.25%	–
APO	Exit	APOLLO GLOBAL MGMT INC	$0	–	-4,744,244	–	-2.26%	–
PSMT	Exit	PRICESMART INC	$0	–	-3,852,378	–	-2.31%	–
ORLY	Exit	OREILLY AUTOMOTIVE INC	$0	–	-498,397	–	-2.36%	–
ARMK	Exit	ARAMARK	$0	–	-9,486,806	–	-2.41%	–
FIS	Exit	FIDELITY NATL INFORMATION SV	$0	–	-3,050,526	–	-2.87%	–
MSI	Exit	MOTOROLA SOLUTIONS INC	$0	–	-1,621,856	–	-2.91%	–
UNVR	Exit	UNIVAR SOLUTIONS INC	$0	–	-16,008,966	–	-2.95%	–
FLS	Exit	FLOWSERVE CORP	$0	–	-12,495,435	–	-3.35%	–
MIDD	Exit	MIDDLEBY CORP	$0	–	-2,984,398	–	-3.94%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-3,718,366	–	-3.95%	–
IFF	Exit	INTERNATIONAL FLAVORS&FRAGRA	$0	–	-3,953,721	–	-4.09%	–
WLTW	Exit	WILLIS TOWERS WATSON PLC LTD	$0	–	-2,324,815	–	-4.18%	–
ANTM	Exit	ANTHEM INC	$0	–	-1,867,765	–	-5.38%	–
BAM	Exit	BROOKFIELD ASSET MGMT INCcl a ltd vt sh	$0	–	-13,129,446	–	-5.42%	–
CSX	Exit	CSX CORP	$0	–	-28,125,548	–	-6.47%	–
MAT	Exit	MATTEL INC	$0	–	-47,733,370	–	-6.85%	–
QSR	Exit	RESTAURANT BRANDS INTL INC	$0	–	-14,663,965	–	-6.92%	–
AMG	Exit	AFFILIATED MANAGERS GROUP IN	$0	–	-6,930,793	–	-8.10%	–
BERY	Exit	BERRY GLOBAL GROUP INC	$0	–	-17,463,864	–	-8.22%	–

Q3 2021

			Value		Shares		↓ Weighting
BERY	Buy	BERRY GLOBAL GROUP INC	$1,063,200,000	+4.2%	17,463,864	+11.6%	8.22%	+5.9%
AMG	Sell	AFFILIATED MANAGERS GROUP IN	$1,047,174,000	-3.8%	6,930,793	-1.8%	8.10%	-2.2%
QSR	Buy	RESTAURANT BRANDS INTL INC	$894,172,000	+8.6%	14,663,965	+14.7%	6.92%	+10.4%
MAT	Buy	MATTEL INC	$885,931,000	-6.2%	47,733,370	+1.6%	6.85%	-4.6%
CSX	Sell	CSX CORP	$836,454,000	-13.7%	28,125,548	-7.0%	6.47%	-12.3%
BAM	Buy	BROOKFIELD ASSET MGMT INCcl a ltd vt sh	$700,216,000	+8.3%	13,129,446	+3.5%	5.42%	+10.1%
ANTM	Buy	ANTHEM INC	$696,303,000	+37.5%	1,867,765	+40.8%	5.38%	+39.8%
WLTW	New	WILLIS TOWERS WATSON PLC LTD	$540,426,000	–	2,324,815	–	4.18%	–
IFF	Sell	INTERNATIONAL FLAVORS&FRAGRA	$528,692,000	-22.4%	3,953,721	-13.3%	4.09%	-21.2%
TEL	Sell	TE CONNECTIVITY LTD	$510,234,000	-13.5%	3,718,366	-14.7%	3.95%	-12.0%
MIDD	Sell	MIDDLEBY CORP	$508,870,000	-12.1%	2,984,398	-10.7%	3.94%	-10.7%
FLS	Buy	FLOWSERVE CORP	$433,217,000	-13.2%	12,495,435	+1.0%	3.35%	-11.7%
UNVR	Buy	UNIVAR SOLUTIONS INC	$381,334,000	+14.8%	16,008,966	+17.5%	2.95%	+16.7%
MSI	Sell	MOTOROLA SOLUTIONS INC	$376,790,000	-7.1%	1,621,856	-13.3%	2.91%	-5.5%
FIS	Buy	FIDELITY NATL INFORMATION SV	$371,188,000	-8.6%	3,050,526	+6.5%	2.87%	-7.0%
ARMK	Buy	ARAMARK	$311,736,000	-6.3%	9,486,806	+6.2%	2.41%	-4.7%
ORLY	Sell	OREILLY AUTOMOTIVE INC	$304,550,000	+4.3%	498,397	-3.4%	2.36%	+6.0%
PSMT	Buy	PRICESMART INC	$298,752,000	-13.2%	3,852,378	+1.9%	2.31%	-11.8%
APO	Buy	APOLLO GLOBAL MGMT INC	$292,198,000	+55.2%	4,744,244	+56.7%	2.26%	+57.7%
BAC	Sell	BK OF AMERICA CORP	$291,176,000	-27.9%	6,859,259	-30.0%	2.25%	-26.7%
BABA	Buy	ALIBABA GROUP HLDG LTDsponsored ads	$244,299,000	-26.7%	1,650,110	+12.2%	1.89%	-25.5%
DISH	Buy	DISH NETWORK CORPORATIONcl a	$227,700,000	+4.7%	5,239,302	+0.7%	1.76%	+6.5%
FNV	Buy	FRANCO NEV CORP	$216,347,000	-9.2%	1,673,188	+1.9%	1.67%	-7.7%
OR	Buy	OSISKO GOLD ROYALTIES LTD	$156,608,000	-16.4%	14,005,547	+2.4%	1.21%	-15.0%
PCG	New	PG&E CORP	$130,891,000	–	13,634,431	–	1.01%	–
GNTX	New	GENTEX CORP	$129,841,000	–	3,936,972	–	1.00%	–
AME	Buy	AMETEK INC	$120,523,000	-5.2%	971,885	+2.0%	0.93%	-3.6%
TD	Sell	TORONTO DOMINION BK ONT	$91,312,000	-13.2%	1,385,859	-7.8%	0.71%	-11.8%
TAC	Sell	TRANSALTA CORP	$78,964,000	+4.9%	7,510,477	-0.7%	0.61%	+6.6%
CP	Buy	CANADIAN PAC RY LTD	$73,124,000	+79.0%	1,125,109	+111.6%	0.57%	+82.0%
GIL	Sell	GILDAN ACTIVEWEAR INC	$55,803,000	-6.7%	1,534,467	-5.4%	0.43%	-5.1%
SATS	Sell	ECHOSTAR CORPcl a	$14,102,000	-33.9%	552,808	-37.1%	0.11%	-32.7%
CNQ	Buy	CANADIAN NAT RES LTD	$7,763,000	+3.3%	213,328	+2.9%	0.06%	+5.3%
TCX	New	TUCOWS INC	$5,453,000	–	68,700	–	0.04%	–
CVE	Buy	CENOVUS ENERGY INC	$4,967,000	+251.8%	495,012	+235.3%	0.04%	+245.5%
CPG	Buy	CRESCENT PT ENERGY CORP	$2,040,000	+36.0%	444,537	+34.0%	0.02%	+45.5%
MFC	Exit	MANULIFE FINL CORP	$0	–	-19,355	–	-0.00%	–
SU	Exit	SUNCOR ENERGY INC NEW	$0	–	-157,166	–	-0.03%	–
AON	Exit	AON PLC	$0	–	-2,413,627	–	-4.38%	–

Q2 2021

			Value		Shares		↓ Weighting
AMG	New	AFFILIATED MANAGERS GROUP IN	$1,088,004,000	–	7,055,339	–	8.28%	–
BERY	New	BERRY GLOBAL GROUP INC	$1,020,247,000	–	15,643,163	–	7.76%	–
CSX	New	CSX CORP	$969,707,000	–	30,227,766	–	7.38%	–
MAT	New	MATTEL INC	$944,084,000	–	46,969,363	–	7.18%	–
QSR	New	RESTAURANT BRANDS INTL INC	$823,307,000	–	12,786,163	–	6.26%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA	$681,663,000	–	4,562,669	–	5.19%	–
BAM	New	BROOKFIELD ASSET MGMT INCcl a ltd vt sh	$646,811,000	–	12,686,674	–	4.92%	–
TEL	New	TE CONNECTIVITY LTD	$589,638,000	–	4,360,903	–	4.48%	–
MIDD	New	MIDDLEBY CORP	$579,035,000	–	3,342,002	–	4.40%	–
AON	New	AON PLC	$576,278,000	–	2,413,627	–	4.38%	–
ANTM	New	ANTHEM INC	$506,519,000	–	1,326,661	–	3.85%	–
FLS	New	FLOWSERVE CORP	$498,973,000	–	12,375,327	–	3.80%	–
FIS	New	FIDELITY NATL INFORMATION SV	$405,895,000	–	2,865,077	–	3.09%	–
MSI	New	MOTOROLA SOLUTIONS INC	$405,458,000	–	1,869,764	–	3.08%	–
BAC	New	BK OF AMERICA CORP	$404,101,000	–	9,801,136	–	3.07%	–
PSMT	New	PRICESMART INC	$344,154,000	–	3,781,501	–	2.62%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$333,380,000	–	1,470,061	–	2.54%	–
ARMK	New	ARAMARK	$332,765,000	–	8,933,279	–	2.53%	–
UNVR	New	UNIVAR SOLUTIONS USA INC	$332,082,000	–	13,621,064	–	2.53%	–
ORLY	New	OREILLY AUTOMOTIVE INC	$292,028,000	–	515,759	–	2.22%	–
FNV	New	FRANCO NEV CORP	$238,215,000	–	1,642,571	–	1.81%	–
DISH	New	DISH NETWORK CORPORATIONcl a	$217,433,000	–	5,201,754	–	1.65%	–
APO	New	APOLLO GLOBAL MGMT INC	$188,332,000	–	3,027,848	–	1.43%	–
OR	New	OSISKO GOLD ROYALTIES LTD	$187,272,000	–	13,672,281	–	1.42%	–
AME	New	AMETEK INC	$127,168,000	–	952,571	–	0.97%	–
TD	New	TORONTO DOMINION BK ONT	$105,217,000	–	1,502,371	–	0.80%	–
TAC	New	TRANSALTA CORP	$75,280,000	–	7,560,918	–	0.57%	–
GIL	New	GILDAN ACTIVEWEAR INC	$59,822,000	–	1,622,283	–	0.46%	–
CP	New	CANADIAN PAC RY LTD	$40,853,000	–	531,627	–	0.31%	–
BSM	New	BLACK STONE MINERALS L P	$38,896,000	–	3,618,261	–	0.30%	–
AMYT	New	AMRYT PHARMA PLCsponsored ads	$27,632,000	–	2,277,964	–	0.21%	–
SATS	New	ECHOSTAR CORPcl a	$21,340,000	–	878,549	–	0.16%	–
	New	COLONY CAPITAL INCnote 5.000% 4/1	$13,023,000	–	12,600,000	–	0.10%	–
RMR	New	RMR GROUP INCcl a	$10,659,000	–	275,853	–	0.08%	–
CNQ	New	CANADIAN NAT RES LTD	$7,518,000	–	207,230	–	0.06%	–
SU	New	SUNCOR ENERGY INC NEW	$3,762,000	–	157,166	–	0.03%	–
CVEWS	New	CENOVUS ENERGY INC*w exp 01/01/202	$2,823,000	–	522,726	–	0.02%	–
NESRW	New	NATIONAL ENERGY SERVICES REU*w exp 05/05/202	$2,780,000	–	1,000,000	–	0.02%	–
CPG	New	CRESCENT PT ENERGY CORP	$1,500,000	–	331,768	–	0.01%	–
CVE	New	CENOVUS ENERGY INC	$1,412,000	–	147,634	–	0.01%	–
MFC	New	MANULIFE FINL CORP	$381,000	–	19,355	–	0.00%	–

Q4 2020

			Value		Shares		↓ Weighting
NESRW	Exit	NATIONAL ENERGY SERVICES REU*w exp 05/05/202	$0	–	-1,000,000	–	-0.01%	–
CNQ	Exit	CANADIAN NAT RES LTD	$0	–	-158,279	–	-0.03%	–
ERF	Exit	ENERPLUS CORP	$0	–	-3,921,375	–	-0.08%	–
RMR	Exit	RMR GROUP INCcl a	$0	–	-275,853	–	-0.08%	–
FNV	Exit	FRANCO NEV CORP	$0	–	-63,152	–	-0.10%	–
	Exit	COLONY CAP INCnote 5.000% 4/1	$0	–	-12,600,000	–	-0.14%	–
	Exit	SEACOR HOLDINGS INCnote 2.500%12/1	$0	–	-17,500,000	–	-0.17%	–
	Exit	AEGERION PHARMACEUTICALS INCnote 5.000% 4/0	$0	–	-15,683,043	–	-0.21%	–
BSM	Exit	BLACK STONE MINERALS L P	$0	–	-3,618,261	–	-0.25%	–
	Exit	TEAM INCnote 5.000% 8/0	$0	–	-32,245,000	–	-0.31%	–
AMYT	Exit	AMRYT PHARMA PLCsponsored ads	$0	–	-2,293,180	–	-0.32%	–
TD	Exit	TORONTO DOMINION BK ONT	$0	–	-717,468	–	-0.37%	–
GIL	Exit	GILDAN ACTIVEWEAR INC	$0	–	-1,894,585	–	-0.42%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-180,000	–	-0.43%	–
SRG	Exit	SERITAGE GROWTH PPTYScl a	$0	–	-4,249,125	–	-0.64%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-280	–	-1.00%	–
AME	Exit	AMETEK INC	$0	–	-1,422,200	–	-1.57%	–
SATS	Exit	ECHOSTAR CORPcl a	$0	–	-5,873,052	–	-1.62%	–
OR	Exit	OSISKO GOLD ROYALTIES LTD	$0	–	-12,379,139	–	-1.63%	–
ORLY	Exit	OREILLY AUTOMOTIVE INC	$0	–	-482,242	–	-2.47%	–
MSI	Exit	MOTOROLA SOLUTIONS INC	$0	–	-1,516,284	–	-2.64%	–
PSMT	Exit	PRICESMART INC	$0	–	-3,766,171	–	-2.78%	–
CCK	Exit	CROWN HLDGS INC	$0	–	-3,303,436	–	-2.82%	–
AON	Exit	AON PLC	$0	–	-1,236,642	–	-2.84%	–
UNVR	Exit	UNIVAR SOLUTIONS USA INC	$0	–	-15,576,453	–	-2.92%	–
IFF	Exit	INTERNATIONAL FLAVORS&FRAGRA	$0	–	-2,240,933	–	-3.05%	–
BAM	Exit	BROOKFIELD ASSET MGMT INCcl a ltd vt sh	$0	–	-8,369,399	–	-3.08%	–
MFC	Exit	MANULIFE FINL CORP	$0	–	-24,742,102	–	-3.83%	–
MIDD	Exit	MIDDLEBY CORP	$0	–	-4,758,217	–	-4.75%	–
BAC	Exit	BK OF AMERICA CORP	$0	–	-20,041,098	–	-5.37%	–
FLS	Exit	FLOWSERVE CORP	$0	–	-20,251,565	–	-6.14%	–
MAT	Exit	MATTEL INC	$0	–	-47,348,075	–	-6.16%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-5,767,974	–	-6.27%	–
QSR	Exit	RESTAURANT BRANDS INTL INC	$0	–	-9,825,389	–	-6.28%	–
FIS	Exit	FIDELITY NATL INFORMATION SV	$0	–	-3,867,918	–	-6.33%	–
AMG	Exit	AFFILIATED MANAGERS GROUP IN	$0	–	-8,587,850	–	-6.53%	–
CSX	Exit	CSX CORP	$0	–	-9,314,986	–	-8.04%	–
BERY	Exit	BERRY GLOBAL GROUP INC	$0	–	-15,500,531	–	-8.33%	–

Q3 2020

			Value		Shares		↓ Weighting
BERY	Buy	BERRY GLOBAL GROUP INC	$748,986,000	+12.7%	15,500,531	+3.4%	8.33%	+6.1%
CSX	Sell	CSX CORP	$723,495,000	-2.6%	9,314,986	-12.5%	8.04%	-8.3%
FIS	Sell	FIDELITY NATL INFORMATION SV	$569,396,000	+4.7%	3,867,918	-4.6%	6.33%	-1.5%
QSR	Buy	RESTAURANT BRANDS INTL INC	$565,209,000	+8.0%	9,825,389	+2.2%	6.28%	+1.7%
TEL	Sell	TE CONNECTIVITY LTD	$563,762,000	+12.7%	5,767,974	-6.0%	6.27%	+6.1%
MAT	Buy	MATTEL INC	$553,972,000	+23.3%	47,348,075	+1.9%	6.16%	+16.0%
FLS	Buy	FLOWSERVE CORP	$552,665,000	-2.6%	20,251,565	+1.8%	6.14%	-8.3%
BAC	Buy	BK OF AMERICA CORP	$482,790,000	+37.6%	20,041,098	+35.7%	5.37%	+29.5%
MIDD	Sell	MIDDLEBY CORP	$426,860,000	+7.5%	4,758,217	-5.4%	4.75%	+1.2%
MFC	Sell	MANULIFE FINL CORP	$344,659,000	-2.2%	24,742,102	-4.5%	3.83%	-7.9%
BAM	Buy	BROOKFIELD ASSET MGMT INCcl a ltd vt sh	$277,364,000	+243.3%	8,369,399	+240.7%	3.08%	+223.3%
IFF	Buy	INTERNATIONAL FLAVORS&FRAGRA	$274,402,000	+3.7%	2,240,933	+3.7%	3.05%	-2.4%
UNVR	Buy	UNIVAR SOLUTIONS USA INC	$262,931,000	+1.6%	15,576,453	+1.5%	2.92%	-4.4%
AON	Buy	AON PLC	$255,119,000	+51.5%	1,236,642	+41.4%	2.84%	+42.6%
CCK	Sell	CROWN HLDGS INC	$253,902,000	+14.9%	3,303,436	-2.7%	2.82%	+8.1%
PSMT	Buy	PRICESMART INC	$250,262,000	+11.7%	3,766,171	+1.4%	2.78%	+5.1%
MSI	New	MOTOROLA SOLUTIONS INC	$237,768,000	–	1,516,284	–	2.64%	–
ORLY	Sell	OREILLY AUTOMOTIVE INC	$222,352,000	-18.7%	482,242	-25.7%	2.47%	-23.5%
OR	Sell	OSISKO GOLD ROYALTIES LTD	$146,650,000	+5.7%	12,379,139	-10.9%	1.63%	-0.5%
SATS	Buy	ECHOSTAR CORPcl a	$146,180,000	-9.7%	5,873,052	+1.4%	1.62%	-15.1%
AME	Sell	AMETEK INC	$141,367,000	-39.9%	1,422,200	-46.0%	1.57%	-43.4%
BRKA	Sell	BERKSHIRE HATHAWAY INC DELcl a	$89,600,000	-76.1%	280	-80.0%	1.00%	-77.5%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$38,329,000	-65.9%	180,000	-71.4%	0.43%	-67.9%
GIL	Sell	GILDAN ACTIVEWEAR INC	$37,393,000	+22.9%	1,894,585	-3.6%	0.42%	+15.6%
TD	Buy	TORONTO DOMINION BK ONT	$33,270,000	+4.2%	717,468	+0.2%	0.37%	-1.9%
AMYT	New	AMRYT PHARMA PLCsponsored ads	$28,344,000	–	2,293,180	–	0.32%	–
	New	AEGERION PHARMACEUTICALS INCnote 5.000% 4/0	$18,898,000	–	15,683,043	–	0.21%	–
FNV	Sell	FRANCO NEV CORP	$8,838,000	-12.0%	63,152	-12.2%	0.10%	-17.6%
ERF	Buy	ENERPLUS CORP	$7,197,000	-31.7%	3,921,375	+4.6%	0.08%	-36.0%
CNQ	Sell	CANADIAN NAT RES LTD	$2,541,000	-63.6%	158,279	-60.7%	0.03%	-65.9%
CVE	Exit	CENOVUS ENERGY INC	$0	–	-14,611	–	-0.00%	–
CF	Exit	CF INDS HLDGS INC	$0	–	-20,198	–	-0.01%	–

Q2 2020

			Value		Shares		↓ Weighting
CSX	New	CSX CORP	$742,466,000	–	10,646,195	–	8.77%	–
BERY	New	BERRY GLOBAL GROUP INC	$664,507,000	–	14,993,393	–	7.85%	–
AMG	New	AFFILIATED MANAGERS GROUP IN	$640,310,000	–	8,587,850	–	7.56%	–
FLS	New	FLOWSERVE CORP	$567,330,000	–	19,892,355	–	6.70%	–
FIS	New	FIDELITY NATL INFORMATION SV	$543,765,000	–	4,055,226	–	6.42%	–
QSR	New	RESTAURANT BRANDS INTL INC	$523,166,000	–	9,617,928	–	6.18%	–
TEL	New	TE CONNECTIVITY LTD	$500,186,000	–	6,133,486	–	5.91%	–
MAT	New	MATTEL INC	$449,296,000	–	46,462,881	–	5.31%	–
MIDD	New	MIDDLEBY CORP	$397,005,000	–	5,029,201	–	4.69%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$375,022,000	–	1,403	–	4.43%	–
MFC	New	MANULIFE FINL CORP	$352,236,000	–	25,905,694	–	4.16%	–
BAC	New	BK OF AMERICA CORP	$350,740,000	–	14,768,010	–	4.14%	–
ORLY	New	OREILLY AUTOMOTIVE INC	$273,651,000	–	648,970	–	3.23%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA	$264,552,000	–	2,160,312	–	3.12%	–
UNVR	New	UNIVAR SOLUTIONS INC	$258,850,000	–	15,352,930	–	3.06%	–
AME	New	AMETEK INC	$235,267,000	–	2,632,506	–	2.78%	–
PSMT	New	PRICESMART INC	$224,101,000	–	3,714,591	–	2.65%	–
CCK	New	CROWN HLDGS INC	$221,069,000	–	3,394,271	–	2.61%	–
AON	New	AON PLC	$168,407,000	–	874,387	–	1.99%	–
SATS	New	ECHOSTAR CORPcl a	$161,906,000	–	5,790,644	–	1.91%	–
OR	New	OSISKO GOLD ROYALTIES LTD	$138,679,000	–	13,892,453	–	1.64%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$112,318,000	–	629,197	–	1.33%	–
BAM	New	BROOKFIELD ASSET MGMT INCcl a ltd vt sh	$80,790,000	–	2,456,243	–	0.95%	–
SRG	New	SERITAGE GROWTH PPTYScl a	$48,440,000	–	4,249,125	–	0.57%	–
TD	New	TORONTO DOMINION BK ONT	$31,926,000	–	715,770	–	0.38%	–
GIL	New	GILDAN ACTIVEWEAR INC	$30,434,000	–	1,965,859	–	0.36%	–
BSM	New	BLACK STONE MINERALS L P	$23,519,000	–	3,618,261	–	0.28%	–
	New	TEAM INCnote 5.000% 8/0	$22,023,000	–	32,245,000	–	0.26%	–
	New	SEACOR HOLDINGS INCnote 2.500%12/1	$15,386,000	–	17,500,000	–	0.18%	–
	New	COLONY CAP INCnote 5.000% 4/1	$10,836,000	–	12,600,000	–	0.13%	–
ERF	New	ENERPLUS CORP	$10,542,000	–	3,748,673	–	0.12%	–
FNV	New	FRANCO NEV CORP	$10,044,000	–	71,945	–	0.12%	–
RMR	New	RMR GROUP INCcl a	$8,129,000	–	275,853	–	0.10%	–
CNQ	New	CANADIAN NAT RES LTD	$6,980,000	–	402,626	–	0.08%	–
CF	New	CF INDS HLDGS INC	$568,000	–	20,198	–	0.01%	–
NESRW	New	NATIONAL ENERGY SERVICES REU*w exp 05/05/202	$550,000	–	1,000,000	–	0.01%	–
CVE	New	CENOVUS ENERGY INC	$68,000	–	14,611	–	0.00%	–

Q4 2019

			Value		Shares		↓ Weighting
NESRW	Exit	NATIONAL ENERGY SERVICES REU*w exp 05/05/202	$0	–	-1,000,000	–	-0.00%	–
NVLNF	Exit	NOVELION THERAPEUTICS INC	$0	–	-3,100,931	–	-0.02%	–
EWC	Exit	ISHARES INCmsci cda etf	$0	–	-96,943	–	-0.03%	–
	Exit	COLONY CAP INCnote 5.000% 4/1	$0	–	-12,352,000	–	-0.12%	–
RMR	Exit	RMR GROUP INCcl a	$0	–	-275,853	–	-0.12%	–
	Exit	TEAM INCnote 5.000% 8/0	$0	–	-15,163,000	–	-0.16%	–
	Exit	SEACOR HOLDINGS INCnote 2.500%12/1	$0	–	-17,500,000	–	-0.17%	–
CIGI	Exit	COLLIERS INTL GROUP INC	$0	–	-345,564	–	-0.25%	–
GIL	Exit	GILDAN ACTIVEWEAR INC	$0	–	-842,747	–	-0.29%	–
BSM	Exit	BLACK STONE MINERALS L P	$0	–	-2,768,699	–	-0.39%	–
FNV	Exit	FRANCO NEVADA CORP	$0	–	-436,296	–	-0.39%	–
SOGO	Exit	SOGOU INCadr repstg a	$0	–	-8,212,477	–	-0.40%	–
TD	Exit	TORONTO DOMINION BK ONT	$0	–	-1,046,871	–	-0.60%	–
BNS	Exit	BANK N S HALIFAX	$0	–	-1,205,250	–	-0.67%	–
BAM	Exit	BROOKFIELD ASSET MGMT INCcl a ltd vt sh	$0	–	-1,566,476	–	-0.81%	–
RLGY	Exit	REALOGY HLDGS CORP	$0	–	-14,469,285	–	-0.95%	–
QSR	Exit	RESTAURANT BRANDS INTL INC	$0	–	-1,428,220	–	-0.99%	–
OR	Exit	OSISKO GOLD ROYALTIES LTD	$0	–	-11,511,726	–	-1.05%	–
BERY	Exit	BERRY GLOBAL GROUP INC	$0	–	-3,857,224	–	-1.48%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-817,933	–	-1.66%	–
SRG	Exit	SERITAGE GROWTH PPTYScl a	$0	–	-4,835,506	–	-2.01%	–
SATS	Exit	ECHOSTAR CORPcl a	$0	–	-5,537,535	–	-2.15%	–
UNVR	Exit	UNIVAR SOLUTIONS INC	$0	–	-11,442,125	–	-2.32%	–
ARMK	Exit	ARAMARK	$0	–	-5,583,523	–	-2.38%	–
PSMT	Exit	PRICESMART INC	$0	–	-3,925,810	–	-2.73%	–
MAT	Exit	MATTEL INC	$0	–	-36,645,254	–	-4.08%	–
CCK	Exit	CROWN HOLDINGS INC	$0	–	-7,595,218	–	-4.91%	–
FIS	Exit	FIDELITY NATL INFORMATION SV	$0	–	-4,228,981	–	-5.49%	–
MIDD	Exit	MIDDLEBY CORP	$0	–	-5,115,654	–	-5.85%	–
MFC	Exit	MANULIFE FINL CORP	$0	–	-32,915,815	–	-5.91%	–
AMG	Exit	AFFILIATED MANAGERS GROUP IN	$0	–	-7,685,484	–	-6.27%	–
DD	Exit	DUPONT DE NEMOURS INC	$0	–	-9,096,535	–	-6.35%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-7,484,890	–	-6.82%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-2,367	–	-7.22%	–
FLS	Exit	FLOWSERVE CORP	$0	–	-17,374,631	–	-7.94%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-16,740,678	–	-8.26%	–
CSX	Exit	CSX CORP	$0	–	-12,895,737	–	-8.74%	–

Q3 2019

			Value		Shares		↓ Weighting
CSX	Buy	CSX CORP	$893,288,000	+7.9%	12,895,737	+20.5%	8.74%	+5.7%
WFC	Sell	WELLS FARGO CO NEW	$844,400,000	+6.2%	16,740,678	-0.4%	8.26%	+4.1%
FLS	Buy	FLOWSERVE CORP	$811,569,000	-9.6%	17,374,631	+2.0%	7.94%	-11.4%
TEL	Sell	TE CONNECTIVITY LTD	$697,442,000	-11.4%	7,484,890	-8.9%	6.82%	-13.2%
DD	Buy	DUPONT DE NEMOURS INC	$648,674,000	+82.8%	9,096,535	+92.4%	6.35%	+79.0%
AMG	Buy	AFFILIATED MANAGERS GROUP IN	$640,585,000	+22.2%	7,685,484	+35.1%	6.27%	+19.7%
MFC	Buy	MANULIFE FINL CORP	$603,755,000	+4.5%	32,915,815	+3.6%	5.91%	+2.4%
MIDD	Sell	MIDDLEBY CORP	$598,020,000	-17.5%	5,115,654	-4.3%	5.85%	-19.2%
FIS	Buy	FIDELITY NATL INFORMATION SV	$561,440,000	+8.8%	4,228,981	+0.5%	5.49%	+6.6%
CCK	Sell	CROWN HOLDINGS INC	$501,740,000	-9.7%	7,595,218	-16.5%	4.91%	-11.6%
MAT	Buy	MATTEL INC	$417,389,000	+2.5%	36,645,254	+0.8%	4.08%	+0.4%
PSMT	Buy	PRICESMART INC	$279,125,000	+40.0%	3,925,810	+0.7%	2.73%	+37.2%
ARMK	Sell	ARAMARK	$243,330,000	-42.5%	5,583,523	-52.4%	2.38%	-43.7%
UNVR	New	UNIVAR SOLUTIONS INC	$237,539,000	–	11,442,125	–	2.32%	–
SATS	Buy	ECHOSTAR CORPcl a	$219,397,000	-10.3%	5,537,535	+0.3%	2.15%	-12.1%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$170,146,000	+17.6%	817,933	+20.5%	1.66%	+15.2%
BERY	New	BERRY GLOBAL GROUP INC	$151,473,000	–	3,857,224	–	1.48%	–
OR	Buy	OSISKO GOLD ROYALTIES LTD	$106,967,000	-2.4%	11,511,726	+9.5%	1.05%	-4.4%
QSR	Sell	RESTAURANT BRANDS INTL INC	$101,554,000	-1.5%	1,428,220	-3.7%	0.99%	-3.5%
BAM	Buy	BROOKFIELD ASSET MGMT INCcl a ltd vt sh	$83,184,000	+23.7%	1,566,476	+11.4%	0.81%	+21.1%
BNS	Buy	BANK N S HALIFAX	$68,459,000	+18.3%	1,205,250	+11.9%	0.67%	+15.9%
TD	Buy	TORONTO DOMINION BK ONT	$61,044,000	+11.6%	1,046,871	+11.8%	0.60%	+9.3%
SOGO	Buy	SOGOU INCadr repstg a	$40,570,000	+21.0%	8,212,477	+0.5%	0.40%	+18.5%
FNV	Buy	FRANCO NEVADA CORP	$39,757,000	+12.1%	436,296	+4.4%	0.39%	+9.9%
GIL	Buy	GILDAN ACTIVEWEAR INC	$29,911,000	+11.0%	842,747	+21.0%	0.29%	+8.9%
CIGI	Buy	COLLIERS INTL GROUP INC	$25,954,000	+17.3%	345,564	+11.7%	0.25%	+14.9%
RMR	Sell	RMR GROUP INCcl a	$12,546,000	-10.3%	275,853	-13.3%	0.12%	-12.1%
EWC	New	ISHARES INCmsci cda etf	$2,802,000	–	96,943	–	0.03%	–
NVLNF	Buy	NOVELION THERAPEUTICS INC	$2,248,000	+1.8%	3,100,931	+9.5%	0.02%	0.0%
	Exit	GRAN TIERRA ENERGY INCnote 5.000% 4/0	$0	–	-1,110,000	–	-0.01%	–
ENB	Exit	ENBRIDGE INC	$0	–	-166,712	–	-0.06%	–
	Exit	AEGERION PHARMACEUTICALS INCnote 2.000% 8/1	$0	–	-52,392,000	–	-0.37%	–
GNRC	Exit	GENERAC HLDGS INC	$0	–	-4,435,880	–	-3.08%	–

Q2 2019

			Value		Shares		↓ Weighting
FLS	New	FLOWSERVE CORP	$897,744,000	–	17,038,215	–	8.96%	–
CSX	New	CSX Corp.	$827,709,000	–	10,698,067	–	8.27%	–
WFC	New	WELLS FARGO & CO NEW	$795,030,000	–	16,801,143	–	7.94%	–
TEL	New	TE CONNECTIVITY LTD	$786,815,000	–	8,214,811	–	7.86%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$753,534,000	–	2,367	–	7.52%	–
MIDD	New	MIDDLEBY CORP	$725,184,000	–	5,344,020	–	7.24%	–
MFC	New	MANULIFE FINL CORP	$577,555,000	–	31,778,893	–	5.77%	–
CCK	New	CROWN HOLDINGS INC	$555,876,000	–	9,097,806	–	5.55%	–
AMG	New	AFFILIATED MANAGERS GROUP	$524,301,000	–	5,690,267	–	5.24%	–
FIS	New	FIDELITY NATIONAL INFORMATION SERVICES, INC.	$516,167,000	–	4,207,428	–	5.16%	–
ARMK	New	ARAMARK	$423,346,000	–	11,740,043	–	4.23%	–
MAT	New	MATTEL, INC.	$407,376,000	–	36,340,435	–	4.07%	–
DD	New	DUPONT DE NEMOURS INC	$354,945,000	–	4,728,185	–	3.54%	–
GNRC	New	GENERAC HLDGS INC	$307,894,000	–	4,435,880	–	3.08%	–
SATS	New	ECHOSTAR CORP., CLASS Acl a	$244,645,000	–	5,519,961	–	2.44%	–
SRG	New	SERITAGE GROWTH PPTYScl a	$207,733,000	–	4,835,506	–	2.08%	–
PSMT	New	PRICESMART INC	$199,316,000	–	3,898,986	–	1.99%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b	$144,732,000	–	678,949	–	1.44%	–
OR	New	OSISKO GOLD ROYALTIES LTD	$109,613,000	–	10,516,020	–	1.10%	–
RLGY	New	REALOGY HLDGS CORP	$104,758,000	–	14,469,285	–	1.05%	–
QSR	New	RESTAURANT BRANDS INTL INC	$103,095,000	–	1,482,473	–	1.03%	–
BAM	New	BROOKFIELD ASSET MGMT INCcl a ltd vt sh	$67,263,000	–	1,405,976	–	0.67%	–
BNS	New	BANK N S HALIFAX	$57,855,000	–	1,077,116	–	0.58%	–
TD	New	TORONTO DOMINION BK ONT	$54,701,000	–	936,140	–	0.55%	–
BSM	New	BLACK STONE MINERALS L P	$42,915,000	–	2,768,699	–	0.43%	–
	New	AEGERION PHARMACEUTICALS INCnote 2.000% 8/1	$36,674,000	–	52,392,000	–	0.37%	–
FNV	New	FRANCO NEVADA CORP	$35,466,000	–	417,860	–	0.35%	–
SOGO	New	SOGOU INCadr repstg a	$33,517,000	–	8,174,980	–	0.34%	–
GIL	New	GILDAN ACTIVEWEAR INC	$26,954,000	–	696,483	–	0.27%	–
CIGI	New	COLLIERS INTL GROUP INCsub vtg shrs	$22,119,000	–	309,364	–	0.22%	–
	New	SEACOR HOLDINGS INCnote 2.500%12/1	$16,888,000	–	17,500,000	–	0.17%	–
	New	TEAM INCnote 5.000% 8/0	$15,548,000	–	15,163,000	–	0.16%	–
RMR	New	RMR GROUP INCcl a	$13,981,000	–	318,033	–	0.14%	–
	New	COLONY CAP INCnote 5.000% 4/1	$11,889,000	–	12,352,000	–	0.12%	–
ENB	New	ENBRIDGE INC	$6,022,000	–	166,712	–	0.06%	–
NVLNF	New	NOVELION THERAPEUTICS INC	$2,209,000	–	2,831,555	–	0.02%	–
	New	GRAN TIERRA ENERGY INCnote 5.000% 4/0	$1,182,000	–	1,110,000	–	0.01%	–
NESRW	New	NATIONAL ENERGY SERVICES REU*w exp 05/05/202	$850,000	–	1,000,000	–	0.01%	–

Q4 2018

			Value		Shares		↓ Weighting
	Exit	COLONY CAP INCnote 5.000% 4/0	$0	–	-2,036,000	–	-0.02%	–
NESRW	Exit	NATIONAL ENERGY SERVICES REU*w exp 05/05/202	$0	–	-1,000,000	–	-0.02%	–
	Exit	GRAN TIERRA ENERGY INCnote 5.000% 4/0	$0	–	-3,110,000	–	-0.05%	–
NVLNF	Exit	NOVELION THERAPEUTICS INC	$0	–	-2,195,063	–	-0.07%	–
WPM	Exit	WHEATON PRECIOUS METALS CORP	$0	–	-662,273	–	-0.13%	–
BSM	Exit	BLACK STONE MINERALS L P	$0	–	-845,123	–	-0.18%	–
DGII	Exit	DIGI INTL INC	$0	–	-1,262,273	–	-0.19%	–
	Exit	SEACOR HOLDINGS INCnote 2.500%12/1	$0	–	-17,500,000	–	-0.20%	–
AAVVF	Exit	ADVANTAGE OIL & GAS LTD	$0	–	-8,445,139	–	-0.27%	–
FNV	Exit	FRANCO NEVADA CORP	$0	–	-437,695	–	-0.31%	–
DIN	Exit	DINE BRANDS GLOBAL INC.	$0	–	-348,516	–	-0.32%	–
SATS	Exit	ECHOSTAR CORP., CLASS Acl a	$0	–	-700,338	–	-0.37%	–
GIL	Exit	GILDAN ACTIVEWEAR INC	$0	–	-1,212,400	–	-0.42%	–
	Exit	Aegerion Pharmaceuticals Inc.,note 2.000% 8/1	$0	–	-52,392,000	–	-0.45%	–
BAM	Exit	BROOKFIELD ASSET MGMT INCcl a ltd vt sh	$0	–	-942,644	–	-0.48%	–
CIGI	Exit	COLLIERS INTL GROUP INCsub vtg shrs	$0	–	-562,970	–	-0.50%	–
ENB	Exit	ENBRIDGE INC	$0	–	-1,483,790	–	-0.54%	–
TD	Exit	TORONTO DOMINION BK ONT	$0	–	-942,140	–	-0.65%	–
SOGO	Exit	SOGOU INCadr repstg a	$0	–	-8,107,618	–	-0.68%	–
BNS	Exit	BANK N S HALIFAX	$0	–	-1,173,085	–	-0.79%	–
OAK	Exit	OAKTREE CAP GROUP LLCunit cl a	$0	–	-1,728,551	–	-0.81%	–
MFC	Exit	MANULIFE FINL CORP	$0	–	-4,096,521	–	-0.83%	–
OR	Exit	OSISKO GOLD ROYALTIES LTD	$0	–	-10,413,371	–	-0.90%	–
GRPU	Exit	GRANITE REAL ESTATE INVT TRunit/99/99/9999	$0	–	-2,117,769	–	-1.03%	–
QSR	Exit	RESTAURANT BRANDS INTL INC	$0	–	-1,757,320	–	-1.18%	–
MAT	Exit	MATTEL, INC.	$0	–	-6,752,063	–	-1.20%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b	$0	–	-571,235	–	-1.39%	–
PSMT	Exit	PRICESMART INC	$0	–	-2,308,394	–	-2.12%	–
CCK	Exit	CROWN HOLDINGS INC	$0	–	-4,291,880	–	-2.34%	–
SRG	Exit	SERITAGE GROWTH PPTYS	$0	–	-4,801,106	–	-2.59%	–
WCC	Exit	WESCO INTL INC	$0	–	-4,096,807	–	-2.86%	–
UBNT	Exit	UBIQUITI NETWORKS INC	$0	–	-2,676,802	–	-3.00%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-3,904,019	–	-3.32%	–
RLGY	Exit	REALOGY HLDGS CORP	$0	–	-16,794,864	–	-3.94%	–
GNRC	Exit	GENERAC HLDGS INC	$0	–	-6,241,005	–	-4.00%	–
AMG	Exit	AFFILIATED MANAGERS GROUP	$0	–	-3,244,450	–	-5.04%	–
WBC	Exit	WABCO HLDGS INC	$0	–	-3,981,535	–	-5.33%	–
FIS	Exit	FIDELITY NATIONAL INFORMATION SERVICES, INC.	$0	–	-4,542,734	–	-5.62%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-6,232,393	–	-6.22%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-1,869	–	-6.79%	–
MIDD	Exit	MIDDLEBY CORP	$0	–	-5,122,646	–	-7.52%	–
CSX	Exit	CSX Corp.	$0	–	-9,729,347	–	-8.18%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-14,065,445	–	-8.39%	–
FLS	Exit	FLOWSERVE CORP	$0	–	-14,117,650	–	-8.76%	–

Q3 2018

			Value		Shares		↓ Weighting
FLS	Sell	FLOWSERVE CORP	$772,094,000	+31.5%	14,117,650	-2.9%	8.76%	+19.9%
WFC	Buy	WELLS FARGO & CO NEW	$739,280,000	+2.0%	14,065,445	+7.6%	8.39%	-7.0%
CSX	Sell	CSX Corp.	$720,458,000	+11.2%	9,729,347	-4.3%	8.18%	+1.4%
MIDD	Buy	MIDDLEBY CORP	$662,614,000	+26.8%	5,122,646	+2.3%	7.52%	+15.6%
BRKA	Buy	BERKSHIRE HATHAWAY INC DELcl a	$598,080,000	+24.4%	1,869	+9.7%	6.79%	+13.5%
TEL	Buy	TE CONNECTIVITY LTD	$548,014,000	+6.8%	6,232,393	+9.4%	6.22%	-2.6%
FIS	Buy	FIDELITY NATIONAL INFORMATION SERVICES, INC.	$495,476,000	+93.3%	4,542,734	+87.9%	5.62%	+76.2%
WBC	Buy	WABCO HLDGS INC	$469,582,000	+15.0%	3,981,535	+14.1%	5.33%	+4.8%
AMG	Buy	AFFILIATED MANAGERS GROUP	$443,581,000	+2.6%	3,244,450	+11.6%	5.04%	-6.4%
GNRC	Sell	GENERAC HLDGS INC	$352,055,000	-23.3%	6,241,005	-29.6%	4.00%	-30.0%
RLGY	Buy	REALOGY HLDGS CORP	$346,646,000	+0.0%	16,794,864	+10.5%	3.94%	-8.8%
ICE	New	INTERCONTINENTAL EXCHANGE IN	$292,372,000	–	3,904,019	–	3.32%	–
UBNT	Sell	UBIQUITI NETWORKS INC	$264,629,000	-17.0%	2,676,802	-28.9%	3.00%	-24.3%
WCC	Sell	WESCO INTL INC	$251,749,000	+7.4%	4,096,807	-0.2%	2.86%	-2.1%
CCK	New	CROWN HOLDINGS INC	$206,010,000	–	4,291,880	–	2.34%	–
PSMT	Buy	PRICESMART INC	$186,864,000	-9.3%	2,308,394	+1.4%	2.12%	-17.3%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b	$122,307,000	+15.3%	571,235	+0.5%	1.39%	+5.2%
MAT	Buy	MATTEL, INC.	$106,007,000	+80.5%	6,752,063	+88.8%	1.20%	+64.6%
GRPU	Sell	GRANITE REAL ESTATE INVT TRunit/99/99/9999	$90,947,000	-30.2%	2,117,769	-33.7%	1.03%	-36.4%
OR	Buy	OSISKO GOLD ROYALTIES LTD	$79,008,000	-3.1%	10,413,371	+21.0%	0.90%	-11.6%
MFC	Buy	MANULIFE FINL CORP	$73,231,000	+30.3%	4,096,521	+30.9%	0.83%	+18.7%
OAK	Buy	OAKTREE CAP GROUP LLCunit cl a	$71,562,000	+42751.5%	1,728,551	+42256.1%	0.81%	+40500.0%
SOGO	New	SOGOU INCadr repstg a	$60,240,000	–	8,107,618	–	0.68%	–
CIGI	Sell	COLLIERS INTL GROUP INCsub vtg shrs	$43,607,000	-29.9%	562,970	-31.1%	0.50%	-36.0%
BAM	New	BROOKFIELD ASSET MGMT INCcl a ltd vt sh	$41,956,000	–	942,644	–	0.48%	–
GIL	Buy	GILDAN ACTIVEWEAR INC	$36,889,000	+25.0%	1,212,400	+15.7%	0.42%	+14.2%
SATS	Buy	ECHOSTAR CORP., CLASS Acl a	$32,475,000	+4.7%	700,338	+0.2%	0.37%	-4.4%
DIN	Sell	DINE BRANDS GLOBAL INC.	$28,338,000	-26.4%	348,516	-32.3%	0.32%	-32.8%
FNV	Buy	FRANCO NEVADA CORP	$27,380,000	+13.4%	437,695	+32.3%	0.31%	+3.3%
DGII	Sell	DIGI INTL INC	$16,978,000	-21.8%	1,262,273	-23.2%	0.19%	-28.5%
WPM	New	WHEATON PRECIOUS METALS CORP	$11,588,000	–	662,273	–	0.13%	–
	New	GRAN TIERRA ENERGY INCnote 5.000% 4/0	$4,144,000	–	3,110,000	–	0.05%	–
	Buy	COLONY CAP INCnote 5.000% 4/0	$1,910,000	+0.7%	2,036,000	+1.8%	0.02%	-8.3%
SAND	Exit	SANDSTORM GOLD LTD	$0	–	-1,055,774	–	-0.06%	–
	Exit	GRAN TIERRA ENERGY INCnote 5.000% 4/0	$0	–	-4,210,000	–	-0.06%	–
EXFO	Exit	EXFO INC	$0	–	-1,654,596	–	-0.07%	–
DTEA	Exit	DAVIDSTEA INC	$0	–	-2,984,352	–	-0.13%	–
EEQ	Exit	ENBRIDGE ENERGY MANAGEMENT, L.L.C.	$0	–	-1,192,596	–	-0.15%	–
SHW	Exit	THE SHERWIN-WILLIAMS CO.	$0	–	-706,204	–	-3.58%	–
WAB	Exit	WABTEC CORP	$0	–	-3,452,607	–	-4.24%	–

Q2 2018

			Value		Shares		↓ Weighting
WFC	New	WELLS FARGO & CO NEW	$725,013,000	–	13,077,437	–	9.02%	–
CSX	New	CSX Corp.	$648,171,000	–	10,162,600	–	8.07%	–
FLS	New	FLOWSERVE CORP	$587,150,000	–	14,533,419	–	7.31%	–
MIDD	New	MIDDLEBY CORP	$522,678,000	–	5,005,532	–	6.51%	–
TEL	New	TE CONNECTIVITY LTD	$513,225,000	–	5,698,700	–	6.39%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$480,596,000	–	1,704	–	5.98%	–
GNRC	New	GENERAC HLDGS INC	$458,741,000	–	8,867,996	–	5.71%	–
AMG	New	AFFILIATED MANAGERS GROUP	$432,145,000	–	2,906,740	–	5.38%	–
WBC	New	WABCO HLDGS INC	$408,488,000	–	3,490,757	–	5.08%	–
RLGY	New	REALOGY HLDGS CORP	$346,579,000	–	15,200,848	–	4.31%	–
WAB	New	WABTEC CORP	$340,358,000	–	3,452,607	–	4.24%	–
UBNT	New	UBIQUITI NETWORKS INC	$318,850,000	–	3,763,572	–	3.97%	–
SHW	New	THE SHERWIN-WILLIAMS CO.	$287,828,000	–	706,204	–	3.58%	–
FIS	New	FIDELITY NATIONAL INFORMATION SERVICES, INC.	$256,346,000	–	2,417,673	–	3.19%	–
WCC	New	WESCO INTL INC	$234,399,000	–	4,105,070	–	2.92%	–
PSMT	New	PRICESMART INC	$206,009,000	–	2,276,346	–	2.56%	–
SRG	New	SERITAGE GROWTH PPTYS	$203,711,000	–	4,801,106	–	2.54%	–
GRPU	New	GRANITE REAL ESTATE INVT TRunit/99/99/9999	$130,346,000	–	3,195,807	–	1.62%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b	$106,063,000	–	568,246	–	1.32%	–
QSR	New	RESTAURANT BRANDS INTL INC	$106,002,000	–	1,757,320	–	1.32%	–
OR	New	OSISKO GOLD ROYALTIES LTD	$81,514,000	–	8,607,357	–	1.02%	–
BNS	New	BANK N S HALIFAX	$66,424,000	–	1,173,085	–	0.83%	–
CIGI	New	COLLIERS INTL GROUP INCsub vtg shrs	$62,187,000	–	817,375	–	0.77%	–
MAT	New	MATTEL, INC.	$58,736,000	–	3,577,088	–	0.73%	–
MFC	New	MANULIFE FINL CORP	$56,222,000	–	3,129,242	–	0.70%	–
TD	New	TORONTO DOMINION BK ONT	$54,530,000	–	942,140	–	0.68%	–
ENB	New	ENBRIDGE INC	$53,047,000	–	1,483,790	–	0.66%	–
DIN	New	DINE BRANDS GLOBAL INC.	$38,488,000	–	514,544	–	0.48%	–
	New	Aegerion Pharmaceuticals Inc., 2pc, due 2019/08/15note 2.000% 8/1	$34,055,000	–	52,392,000	–	0.42%	–
SATS	New	ECHOSTAR CORP., CLASS Acl a	$31,021,000	–	698,682	–	0.39%	–
GIL	New	GILDAN ACTIVEWEAR INC	$29,521,000	–	1,048,060	–	0.37%	–
AAVVF	New	ADVANTAGE OIL & GAS LTD	$26,402,000	–	8,445,139	–	0.33%	–
FNV	New	FRANCO NEVADA CORP	$24,147,000	–	330,841	–	0.30%	–
DGII	New	DIGI INTL INC	$21,702,000	–	1,644,087	–	0.27%	–
	New	SEACOR HOLDINGS INCnote 2.500%12/1	$17,901,000	–	17,500,000	–	0.22%	–
BSM	New	BLACK STONE MINERALS L P	$15,626,000	–	845,123	–	0.19%	–
EEQ	New	ENBRIDGE ENERGY MANAGEMENT, L.L.C.	$12,236,000	–	1,192,596	–	0.15%	–
DTEA	New	DAVIDSTEA INC	$10,595,000	–	2,984,352	–	0.13%	–
NVLNF	New	NOVELION THERAPEUTICS INC	$8,078,000	–	2,195,063	–	0.10%	–
EXFO	New	EXFO INC	$5,689,000	–	1,654,596	–	0.07%	–
	New	GRAN TIERRA ENERGY INCnote 5.000% 4/0	$5,126,000	–	4,210,000	–	0.06%	–
SAND	New	SANDSTORM GOLD LTD	$4,746,000	–	1,055,774	–	0.06%	–
	New	COLONY CAP INCnote 5.000% 4/1	$1,896,000	–	2,000,000	–	0.02%	–
NESRW	New	NATIONAL ENERGY SERVICES REU*w exp 05/05/202	$1,200,000	–	1,000,000	–	0.02%	–
OAK	New	Oaktree Capital Group, LLCunit cl a	$167,000	–	4,081	–	0.00%	–

Q4 2017

			Value		Shares		↓ Weighting
AIGWS	Exit	AMERICAN INTL GROUP INCw exp 01/19/202	$0	–	-2,580	–	-0.00%	–
NESRW	Exit	NATIONAL ENERGY SERVICES REU*w exp 05/05/202	$0	–	-1,000,000	–	-0.01%	–
FISV	Exit	FIRSTSERVICE CORPsub vtg sh	$0	–	-18,643	–	-0.02%	–
GTE	Exit	GRAN TIERRA ENERGY INC	$0	–	-1,315,882	–	-0.04%	–
ERF	Exit	ENERPLUS CORP	$0	–	-624,086	–	-0.09%	–
NVLNF	Exit	NOVELION THERAPEUTICS INC	$0	–	-1,038,566	–	-0.11%	–
SAND	Exit	SANDSTORM GOLD LTD	$0	–	-1,836,293	–	-0.12%	–
NESR	Exit	NATIONAL ENERGY SERVICES REU	$0	–	-1,000,000	–	-0.14%	–
DTEA	Exit	DAVIDSTEA INC	$0	–	-2,348,271	–	-0.15%	–
EXFO	Exit	EXFO INC	$0	–	-3,011,136	–	-0.18%	–
BSM	Exit	BLACK STONE MINERALS L P	$0	–	-845,123	–	-0.22%	–
	Exit	SEACOR HOLDINGS INCnote 2.500%12/1	$0	–	-17,500,000	–	-0.26%	–
FNV	Exit	FRANCO NEVADA CORP	$0	–	-259,730	–	-0.30%	–
DGII	Exit	DIGI INTL INC	$0	–	-1,907,764	–	-0.30%	–
ALRPRB	Exit	ALERE INCperp pfd conv se	$0	–	-65,844	–	-0.40%	–
GIL	Exit	GILDAN ACTIVEWEAR INC	$0	–	-970,781	–	-0.45%	–
DIN	Exit	DineEquity, Inc.	$0	–	-735,138	–	-0.47%	–
MFC	Exit	MANULIFE FINL CORP	$0	–	-1,794,242	–	-0.54%	–
SATS	Exit	EchoStar Corp., class Acl a	$0	–	-708,918	–	-0.61%	–
	Exit	Aegerion Pharmaceuticals Inc.note 2.000% 8/1	$0	–	-51,642,000	–	-0.62%	–
LYV	Exit	LIVE NATION ENTERTAINMENT IN	$0	–	-1,172,655	–	-0.76%	–
OR	Exit	OSISKO GOLD ROYALTIES LTD	$0	–	-3,961,938	–	-0.76%	–
BNS	Exit	BANK N S HALIFAX	$0	–	-815,560	–	-0.78%	–
TD	Exit	TORONTO DOMINION BK ONT	$0	–	-942,140	–	-0.79%	–
CIGI	Exit	COLLIERS INTL GROUP INCsub vtg shrs	$0	–	-1,097,094	–	-0.81%	–
QSR	Exit	RESTAURANT BRANDS INTL INC	$0	–	-1,298,628	–	-1.24%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b	$0	–	-558,948	–	-1.53%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-1,179,491	–	-1.68%	–
GRPU	Exit	GRANITE REAL ESTATE INVT TRunit/99/99/9999	$0	–	-2,993,989	–	-1.80%	–
SCI	Exit	SERVICE CORP INTL	$0	–	-3,846,613	–	-1.98%	–
RXN	Exit	REXNORD CORP NEW	$0	–	-5,297,839	–	-2.01%	–
CRS	Exit	CARPENTER TECHNOLOGY CORP	$0	–	-3,350,871	–	-2.41%	–
MSCC	Exit	MICROSEMI CORP	$0	–	-3,435,632	–	-2.64%	–
WCC	Exit	WESCO INTL INC	$0	–	-4,177,130	–	-3.64%	–
RLGY	Exit	REALOGY HLDGS CORP	$0	–	-9,839,244	–	-4.85%	–
UBNT	Exit	UBIQUITI NETWORKS INC	$0	–	-6,127,974	–	-5.13%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-1,314	–	-5.40%	–
AMG	Exit	AFFILIATED MANAGERS GROUP	$0	–	-1,917,296	–	-5.44%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-4,404,668	–	-5.47%	–
FLS	Exit	FLOWSERVE CORP	$0	–	-8,844,687	–	-5.63%	–
CSX	Exit	CSX Corp.	$0	–	-7,091,545	–	-5.75%	–
WAB	Exit	WABTEC CORP	$0	–	-5,165,811	–	-5.85%	–
GNRC	Exit	GENERAC HLDGS INC	$0	–	-9,027,537	–	-6.20%	–
ANTM	Exit	ANTHEM INC	$0	–	-2,203,709	–	-6.26%	–
WBC	Exit	WABCO HLDGS INC	$0	–	-3,151,755	–	-6.98%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-11,063,458	–	-9.12%	–

Q3 2017

			Value		Shares		↓ Weighting
WFC	Buy	WELLS FARGO & CO NEW	$610,150,000	-99.9%	11,063,458	+9.2%	9.12%	+2.6%
WBC	Sell	WABCO HLDGS INC	$466,460,000	-99.9%	3,151,755	-0.7%	6.98%	+8.8%
ANTM	Sell	ANTHEM INC	$418,440,000	-99.9%	2,203,709	-0.8%	6.26%	-5.4%
GNRC	Buy	GENERAC HLDGS INC	$414,635,000	-99.9%	9,027,537	+2.9%	6.20%	+23.5%
WAB	Buy	WABTEC CORP	$391,310,000	-99.8%	5,165,811	+98.0%	5.85%	+54.8%
CSX	Buy	CSX Corp.	$384,787,000	-99.9%	7,091,545	+29.1%	5.75%	+21.3%
FLS	Buy	FLOWSERVE CORP	$376,695,000	-99.9%	8,844,687	+40.2%	5.63%	+21.5%
TEL	Buy	TE CONNECTIVITY LTD	$365,852,000	-99.9%	4,404,668	+9.7%	5.47%	+9.4%
AMG	Sell	AFFILIATED MANAGERS GROUP	$363,960,000	-99.9%	1,917,296	-0.8%	5.44%	+7.3%
BRKA	Buy	BERKSHIRE HATHAWAY INC DELcl a	$361,008,000	-99.9%	1,314	+15.6%	5.40%	+17.7%
UBNT	Sell	UBIQUITI NETWORKS INC	$343,289,000	-99.9%	6,127,974	-3.1%	5.13%	-1.4%
RLGY	Sell	REALOGY HLDGS CORP	$324,203,000	-99.9%	9,839,244	-0.7%	4.85%	-4.8%
WCC	Sell	WESCO INTL INC	$243,318,000	-99.9%	4,177,130	-0.8%	3.64%	-4.7%
MSCC	New	MICROSEMI CORP	$176,866,000	–	3,435,632	–	2.64%	–
CRS	Sell	CARPENTER TECHNOLOGY CORP	$160,942,000	-99.9%	3,350,871	-1.3%	2.41%	+19.6%
RXN	Sell	REXNORD CORP NEW	$134,618,000	-99.9%	5,297,839	-31.2%	2.01%	-29.0%
SCI	Sell	SERVICE CORP INTL	$132,708,000	-99.9%	3,846,613	-50.0%	1.98%	-51.3%
JPM	Sell	JPMORGAN CHASE & CO	$112,653,000	-99.9%	1,179,491	-1.1%	1.68%	-2.4%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b	$102,466,000	-99.9%	558,948	-0.0%	1.53%	+2.2%
LYV	Sell	LIVE NATION ENTERTAINMENT IN	$51,069,000	-100.0%	1,172,655	-86.1%	0.76%	-83.6%
	Buy	Aegerion Pharmaceuticals Inc.note 2.000% 8/1	$41,704,000	-99.9%	51,642,000	+21.1%	0.62%	+12.4%
DIN	Buy	DineEquity, Inc.	$31,596,000	-99.9%	735,138	+22.7%	0.47%	+12.9%
GIL	New	GILDAN ACTIVEWEAR INC	$30,335,000	–	970,781	–	0.45%	–
ALRPRB	Sell	ALERE INCperp pfd conv se	$26,403,000	-100.0%	65,844	-51.5%	0.40%	-53.3%
BSM	Buy	BLACK STONE MINERALS L P	$14,654,000	-99.6%	845,123	+292.6%	0.22%	+305.6%
DTEA	Buy	DAVIDSTEA INC	$9,980,000	-99.9%	2,348,271	+92.0%	0.15%	+31.9%
NVLNF	New	NOVELION THERAPEUTICS INC	$7,301,000	–	1,038,566	–	0.11%	–
GTE	Sell	GRAN TIERRA ENERGY INC	$2,985,000	-100.0%	1,315,882	-56.6%	0.04%	-57.9%
ALR	Exit	ALERE INC	$0	–	-5,300	–	-0.00%	–
TISI	Exit	TEAM INC	$0	–	-2,534,521	–	-0.94%	–
EMN	Exit	EASTMAN CHEM CO	$0	–	-1,613,575	–	-2.15%	–

Q2 2017

			Value		Shares		↓ Weighting
WFC	New	WELLS FARGO & CO NEW	$561,607,335,000	–	10,135,487	–	8.89%	–
ANTM	New	ANTHEM INC	$417,800,045,000	–	2,220,805	–	6.62%	–
WBC	New	WABCO HLDGS INC	$404,803,574,000	–	3,174,681	–	6.41%	–
UBNT	New	UBIQUITI NETWORKS INC	$328,719,709,000	–	6,325,182	–	5.20%	–
RLGY	New	REALOGY HLDGS CORP	$321,577,293,000	–	9,909,932	–	5.09%	–
AMG	New	AFFILIATED MANAGERS GROUP	$320,493,932,000	–	1,932,316	–	5.08%	–
GNRC	New	GENERAC HLDGS INC	$317,060,477,000	–	8,775,546	–	5.02%	–
TEL	New	TE CONNECTIVITY LTD	$315,954,725,000	–	4,015,693	–	5.00%	–
CSX	New	CSX Corp.	$299,666,272,000	–	5,492,417	–	4.74%	–
LYV	New	LIVE NATION ENTERTAINMENT IN	$294,018,507,000	–	8,436,686	–	4.66%	–
FLS	New	FLOWSERVE CORP	$292,855,136,000	–	6,307,455	–	4.64%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$289,593,900,000	–	1,137	–	4.59%	–
SCI	New	SERVICE CORP INTL	$257,445,751,000	–	7,696,435	–	4.08%	–
WCC	New	WESCO INTL INC	$241,236,667,000	–	4,210,064	–	3.82%	–
WAB	New	WABTEC CORP	$238,685,253,000	–	2,608,582	–	3.78%	–
RXN	New	REXNORD CORP NEW	$179,097,284,000	–	7,703,109	–	2.84%	–
EMN	New	EASTMAN CHEM CO	$135,524,164,000	–	1,613,575	–	2.15%	–
CRS	New	CARPENTER TECHNOLOGY CORP	$127,048,761,000	–	3,394,303	–	2.01%	–
GRPU	New	GRANITE REAL ESTATE INVT TRunit/99/99/9999	$118,416,030,000	–	2,993,989	–	1.88%	–
JPM	New	JPMORGAN CHASE & CO	$108,972,290,000	–	1,192,257	–	1.73%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b	$94,687,653,000	–	559,058	–	1.50%	–
QSR	New	RESTAURANT BRANDS INTL INC	$81,254,489,000	–	1,298,628	–	1.29%	–
CIGI	New	COLLIERS INTL GROUP INCsub vtg shrs	$62,011,954,000	–	1,097,094	–	0.98%	–
TISI	New	TEAM INC	$59,434,517,000	–	2,534,521	–	0.94%	–
ALRPRB	New	ALERE INCperp pfd conv se	$53,386,692,000	–	135,844	–	0.84%	–
BNS	New	BANK N S HALIFAX	$49,060,706,000	–	815,560	–	0.78%	–
OR	New	OSISKO GOLD ROYALTIES LTD	$48,424,433,000	–	3,961,938	–	0.77%	–
TD	New	TORONTO DOMINION BK ONT	$47,477,587,000	–	942,140	–	0.75%	–
SATS	New	EchoStar Corp., class Acl a	$43,031,323,000	–	708,918	–	0.68%	–
	New	Aegerion Pharmaceuticals Inc.note 2.000% 8/1	$35,019,742,000	–	42,642,000	–	0.56%	–
MFC	New	MANULIFE FINL CORP	$33,635,166,000	–	1,794,242	–	0.53%	–
DIN	New	DineEquity, Inc.	$26,388,373,000	–	599,055	–	0.42%	–
DGII	New	DIGI INTL INC	$19,363,805,000	–	1,907,764	–	0.31%	–
FNV	New	FRANCO NEVADA CORP	$18,740,723,000	–	259,730	–	0.30%	–
	New	SEACOR HOLDINGS INCnote 2.500%12/1	$17,500,000,000	–	17,500,000	–	0.28%	–
EXFO	New	EXFO INC	$14,047,963,000	–	3,011,136	–	0.22%	–
NESR	New	NATIONAL ENERGY SERVICES REU	$9,550,000,000	–	1,000,000	–	0.15%	–
DTEA	New	DAVIDSTEA INC	$7,156,135,000	–	1,223,271	–	0.11%	–
SAND	New	SANDSTORM GOLD LTD	$7,094,263,000	–	1,836,293	–	0.11%	–
GTE	New	GRAN TIERRA ENERGY INC	$6,740,469,000	–	3,035,079	–	0.11%	–
ERF	New	ENERPLUS CORP	$5,062,765,000	–	624,086	–	0.08%	–
BSM	New	BLACK STONE MINERALS L P	$3,392,482,000	–	215,259	–	0.05%	–
FISV	New	FIRSTSERVICE CORPsub vtg sh	$1,196,242,000	–	18,643	–	0.02%	–
NESRW	New	NATIONAL ENERGY SERVICES REU*w exp 05/05/202	$550,000,000	–	1,000,000	–	0.01%	–
ALR	New	ALERE INC	$266,007,000	–	5,300	–	0.00%	–
AIGWS	New	AMERICAN INTL GROUP INCw exp 01/19/202	$54,386,000	–	2,580	–	0.00%	–

Q4 2016

			Value		Shares		↓ Weighting
BACWSA	Exit	BANK AMER CORPw exp 01/16/201	$0	–	-16,500	–	-0.00%	–
AIGWS	Exit	AMERICAN INTL GROUP INCw exp 01/19/202	$0	–	-2,580	–	-0.00%	–
FSV	Exit	FIRSTSERVICE CORPsub vtg sh	$0	–	-18,643	–	-0.01%	–
WFCWS	Exit	WELLS FARGO & CO NEW*w exp 10/28/201	$0	–	-207,790	–	-0.04%	–
ECA	Exit	ENCANA CORP	$0	–	-299,862	–	-0.05%	–
ERF	Exit	ENERPLUS CORP	$0	–	-699,086	–	-0.07%	–
SAND	Exit	SANDSTORM GOLD LTD	$0	–	-3,021,455	–	-0.25%	–
EXFO	Exit	EXFO INC	$0	–	-4,193,500	–	-0.25%	–
FNV	Exit	FRANCO NEVADA CORP	$0	–	-224,730	–	-0.26%	–
GTE	Exit	GRAN TIERRA ENERGY INC	$0	–	-5,522,079	–	-0.27%	–
	Exit	SEACOR HOLDINGS INCnote 2.500%12/1	$0	–	-17,500,000	–	-0.28%	–
OR	Exit	OSISKO GOLD ROYALTIES LTD	$0	–	-2,191,613	–	-0.39%	–
DGII	Exit	DIGI INTL INC	$0	–	-2,229,812	–	-0.42%	–
TD	Exit	TORONTO DOMINION BK ONT	$0	–	-942,140	–	-0.68%	–
BNS	Exit	BANK N S HALIFAX	$0	–	-815,560	–	-0.71%	–
CIGI	Exit	COLLIERS INTL GROUP INCsub vtg shrs	$0	–	-1,064,061	–	-0.73%	–
PEGA	Exit	PEGASYSTEMS INC	$0	–	-1,792,165	–	-0.86%	–
QSR	Exit	RESTAURANT BRANDS INTL INC	$0	–	-1,243,628	–	-0.91%	–
TISI	Exit	TEAM INC	$0	–	-2,190,243	–	-1.17%	–
ALRPRB	Exit	ALERE INCperp pfd conv se	$0	–	-221,249	–	-1.22%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b	$0	–	-567,630	–	-1.34%	–
GRPU	Exit	GRANITE REAL ESTATE INVT TRunit/99/99/9999	$0	–	-2,993,989	–	-1.50%	–
ANET	Exit	ARISTA NETWORKS INC	$0	–	-1,227,637	–	-1.71%	–
ALR	Exit	ALERE INC	$0	–	-3,116,075	–	-2.20%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-737	–	-2.60%	–
CRS	Exit	CARPENTER TECHNOLOGY CORP	$0	–	-4,370,757	–	-2.95%	–
WAB	Exit	WABTEC CORP	$0	–	-2,374,166	–	-3.17%	–
SCI	Exit	SERVICE CORP INTL	$0	–	-8,625,508	–	-3.74%	–
RXN	Exit	REXNORD CORP NEW	$0	–	-10,827,414	–	-3.79%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-3,583,699	–	-3.90%	–
FLS	Exit	FLOWSERVE CORP	$0	–	-5,033,473	–	-3.97%	–
EMN	Exit	EASTMAN CHEM CO	$0	–	-3,665,685	–	-4.06%	–
ANTM	Exit	ANTHEM INC	$0	–	-1,988,337	–	-4.07%	–
UNP	Exit	UNION PAC CORP	$0	–	-2,605,818	–	-4.16%	–
RLGY	Exit	REALOGY HLDGS CORP	$0	–	-10,126,932	–	-4.28%	–
LYV	Exit	LIVE NATION ENTERTAINMENT IN	$0	–	-9,613,096	–	-4.32%	–
GNRC	Exit	GENERAC HLDGS INC	$0	–	-7,835,903	–	-4.65%	–
UBNT	Exit	UBIQUITI NETWORKS INC	$0	–	-5,544,020	–	-4.85%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-5,209,954	–	-5.48%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-8,034,158	–	-5.82%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-6,167,911	–	-5.98%	–
WBC	Exit	WABCO HLDGS INC	$0	–	-3,228,961	–	-5.99%	–
WCC	Exit	WESCO INTL INC	$0	–	-6,844,103	–	-6.88%	–

Q3 2016

			Value		Shares		↓ Weighting
WCC	Buy	WESCO INTL INC	$420,844,000	+19.4%	6,844,103	+0.0%	6.88%	+11.7%
WBC	Sell	WABCO HLDGS INC	$366,584,000	+15.6%	3,228,961	-6.7%	5.99%	+8.2%
AIG	Sell	AMERICAN INTL GROUP INC	$366,004,000	+0.8%	6,167,911	-10.2%	5.98%	-5.7%
WFC	Buy	WELLS FARGO & CO NEW	$355,753,000	+19.9%	8,034,158	+28.2%	5.82%	+12.2%
TEL	Buy	TE CONNECTIVITY LTD	$335,417,000	+13.0%	5,209,954	+0.2%	5.48%	+5.7%
UBNT	Sell	UBIQUITI NETWORKS INC	$296,605,000	+32.7%	5,544,020	-4.1%	4.85%	+24.1%
GNRC	Sell	GENERAC HLDGS INC	$284,443,000	+3.6%	7,835,903	-0.3%	4.65%	-3.1%
LYV	Sell	LIVE NATION ENTERTAINMENT IN	$264,168,000	+15.2%	9,613,096	-1.5%	4.32%	+7.8%
RLGY	Buy	REALOGY HLDGS CORP	$261,882,000	-10.7%	10,126,932	+0.2%	4.28%	-16.4%
UNP	Sell	UNION PAC CORP	$254,145,000	-11.4%	2,605,818	-20.7%	4.16%	-17.1%
ANTM	Buy	ANTHEM INC	$249,159,000	+7.7%	1,988,337	+12.9%	4.07%	+0.8%
EMN	Buy	EASTMAN CHEM CO	$248,094,000	+21.8%	3,665,685	+22.2%	4.06%	+14.0%
FLS	Buy	FLOWSERVE CORP	$242,815,000	+7.1%	5,033,473	+0.3%	3.97%	+0.2%
JPM	Sell	JPMORGAN CHASE & CO	$238,639,000	-20.3%	3,583,699	-25.6%	3.90%	-25.4%
RXN	Sell	REXNORD CORP NEW	$231,815,000	+8.8%	10,827,414	-0.3%	3.79%	+1.7%
SCI	Sell	SERVICE CORP INTL	$228,921,000	-1.9%	8,625,508	-0.0%	3.74%	-8.2%
WAB	Buy	WABTEC CORP	$193,851,000	+57.6%	2,374,166	+35.5%	3.17%	+47.4%
CRS	Sell	CARPENTER TECHNOLOGY CORP	$180,337,000	+22.1%	4,370,757	-2.5%	2.95%	+14.2%
BRKA	Buy	BERKSHIRE HATHAWAY INC DELcl a	$159,354,000	+4.5%	737	+4.8%	2.60%	-2.3%
ANET	Sell	ARISTA NETWORKS INC	$104,447,000	+32.1%	1,227,637	-0.1%	1.71%	+23.6%
QSR	Sell	RESTAURANT BRANDS INTL INC	$55,453,000	+6.3%	1,243,628	-0.7%	0.91%	-0.4%
CIGI	Buy	COLLIERS INTL GROUP INCsub vtg shrs	$44,664,000	+36.5%	1,064,061	+11.1%	0.73%	+27.6%
BNS	Sell	BANK N S HALIFAX	$43,216,000	+5.7%	815,560	-2.3%	0.71%	-1.1%
TD	Sell	TORONTO DOMINION BK ONT	$41,823,000	+1.2%	942,140	-2.1%	0.68%	-5.3%
OR	New	OSISKO GOLD ROYALTIES LTD	$23,988,000	–	2,191,613	–	0.39%	–
	New	SEACOR HOLDINGS INCnote 2.500%12/1	$17,412,000	–	17,500,000	–	0.28%	–
GTE	Sell	GRAN TIERRA ENERGY INC	$16,542,000	-12.0%	5,522,079	-1.3%	0.27%	-17.9%
FNV	Sell	FRANCO NEVADA CORP	$15,701,000	-8.9%	224,730	-0.9%	0.26%	-14.6%
SAND	Sell	SANDSTORM GOLD LTD	$15,269,000	-1.5%	3,021,455	-12.3%	0.25%	-7.7%
ERF	Sell	ENERPLUS CORP	$4,487,000	-6.2%	699,086	-3.8%	0.07%	-13.1%
ECA	Sell	ENCANA CORP	$3,134,000	+0.3%	299,862	-25.4%	0.05%	-7.3%
WFCWS	Buy	WELLS FARGO & CO NEW*w exp 10/28/201	$2,593,000	+839.5%	207,790	+923.6%	0.04%	+740.0%
BACWSA	Sell	BANK AMER CORPw exp 01/16/201	$76,000	-97.5%	16,500	-98.1%	0.00%	-98.1%
PTC	Exit	PTC INC	$0	–	-3,469,560	–	-2.28%	–

Q2 2016

			Value		Shares		↓ Weighting
AIG	New	AMERICAN INTL GROUP INC	$363,084,000	–	6,864,880	–	6.34%	–
WCC	New	WESCO INTL INC	$352,395,000	–	6,843,948	–	6.16%	–
WBC	New	WABCO HLDGS INC	$317,076,000	–	3,462,662	–	5.54%	–
JPM	New	JPMORGAN CHASE & CO	$299,249,000	–	4,815,723	–	5.23%	–
TEL	New	TE CONNECTIVITY LTD	$296,926,000	–	5,199,189	–	5.19%	–
WFC	New	WELLS FARGO & CO NEW	$296,677,000	–	6,268,262	–	5.18%	–
RLGY	New	REALOGY HLDGS CORP	$293,189,000	–	10,102,987	–	5.12%	–
UNP	New	UNION PAC CORP	$286,829,000	–	3,287,438	–	5.01%	–
GNRC	New	GENERAC HLDGS INC	$274,641,000	–	7,855,877	–	4.80%	–
SCI	New	SERVICE CORP INTL	$233,283,000	–	8,627,338	–	4.08%	–
ANTM	New	ANTHEM INC	$231,245,000	–	1,760,663	–	4.04%	–
LYV	New	LIVE NATION ENTERTAINMENT IN	$229,330,000	–	9,758,714	–	4.01%	–
FLS	New	FLOWSERVE CORP	$226,720,000	–	5,019,259	–	3.96%	–
UBNT	New	UBIQUITI NETWORKS INC	$223,535,000	–	5,782,063	–	3.91%	–
RXN	New	REXNORD CORP NEW	$213,158,000	–	10,858,801	–	3.72%	–
EMN	New	EASTMAN CHEM CO	$203,672,000	–	2,999,584	–	3.56%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$152,533,000	–	703	–	2.67%	–
CRS	New	CARPENTER TECHNOLOGY CORP	$147,675,000	–	4,484,498	–	2.58%	–
PTC	New	PTC INC	$130,386,000	–	3,469,560	–	2.28%	–
ALR	New	ALERE INC	$129,878,000	–	3,116,075	–	2.27%	–
WAB	New	WABTEC CORP	$123,031,000	–	1,751,832	–	2.15%	–
GRPU	New	GRANITE REAL ESTATE INVT TRunit/99/99/9999	$89,800,000	–	2,993,989	–	1.57%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b	$82,187,000	–	567,630	–	1.44%	–
ANET	New	ARISTA NETWORKS INC	$79,081,000	–	1,228,340	–	1.38%	–
ALRPRB	New	ALERE INCperp pfd conv se	$74,501,000	–	221,249	–	1.30%	–
TISI	New	TEAM INC	$54,384,000	–	2,190,243	–	0.95%	–
QSR	New	RESTAURANT BRANDS INTL INC	$52,143,000	–	1,252,628	–	0.91%	–
PEGA	New	PEGASYSTEMS INC	$48,299,000	–	1,792,165	–	0.84%	–
TD	New	TORONTO DOMINION BK ONT	$41,317,000	–	962,140	–	0.72%	–
BNS	New	BANK N S HALIFAX	$40,896,000	–	834,560	–	0.72%	–
CIGI	New	COLLIERS INTL GROUP INCsub vtg shrs	$32,720,000	–	958,126	–	0.57%	–
DGII	New	DIGI INTL INC	$23,926,000	–	2,229,812	–	0.42%	–
GTE	New	GRAN TIERRA ENERGY INC	$18,802,000	–	5,597,079	–	0.33%	–
FNV	New	FRANCO NEVADA CORP	$17,240,000	–	226,730	–	0.30%	–
SAND	New	SANDSTORM GOLD LTD	$15,499,000	–	3,446,455	–	0.27%	–
EXFO	New	EXFO INC	$14,509,000	–	4,193,500	–	0.25%	–
ERF	New	ENERPLUS CORP	$4,785,000	–	726,388	–	0.08%	–
ECA	New	ENCANA CORP	$3,126,000	–	401,862	–	0.06%	–
BACWSA	New	BANK AMER CORPw exp 01/16/201	$3,062,000	–	879,972	–	0.05%	–
FSV	New	FIRSTSERVICE CORPsub vtg sh	$853,000	–	18,643	–	0.02%	–
WFCWS	New	WELLS FARGO & CO NEWw exp 10/28/201	$276,000	–	20,300	–	0.01%	–
AIGWS	New	AMERICAN INTL GROUP INCw exp 01/19/202	$48,000	–	2,580	–	0.00%	–

Q4 2015

			Value		Shares		↓ Weighting
AIGWS	Exit	AMERICAN INTL GROUP INCw exp 01/19/202	$0	–	-2,580	–	-0.00%	–
SAND	Exit	SANDSTORM GOLD LTD	$0	–	-447,100	–	-0.02%	–
CIGI	Exit	COLLIERS INTL GROUP INCsub vtg shrs	$0	–	-97,083	–	-0.08%	–
BACWSA	Exit	BANK AMER CORPw exp 01/16/201	$0	–	-908,799	–	-0.10%	–
FNV	Exit	FRANCO NEVADA CORP	$0	–	-242,730	–	-0.21%	–
EXFO	Exit	EXFO INC	$0	–	-3,775,600	–	-0.22%	–
GTE	Exit	GRAN TIERRA ENERGY INC	$0	–	-5,400,079	–	-0.23%	–
ALRPRB	Exit	ALERE INCperp pfd conv se	$0	–	-77,324	–	-0.50%	–
DGII	Exit	DIGI INTL INC	$0	–	-2,689,963	–	-0.63%	–
MMSI	Exit	MERIT MED SYS INC	$0	–	-1,525,919	–	-0.73%	–
PEGA	Exit	PEGASYSTEMS INC	$0	–	-1,569,177	–	-0.77%	–
QSR	Exit	RESTAURANT BRANDS INTL INC	$0	–	-1,163,348	–	-0.83%	–
BNS	Exit	BANK N S HALIFAX	$0	–	-1,034,560	–	-0.90%	–
TD	Exit	TORONTO DOMINION BK ONT	$0	–	-1,162,140	–	-0.91%	–
ANET	Exit	ARISTA NETWORKS INC	$0	–	-898,600	–	-1.09%	–
TISI	Exit	TEAM INC	$0	–	-1,814,180	–	-1.16%	–
J	Exit	JACOBS ENGR GROUP INC DEL	$0	–	-1,558,048	–	-1.16%	–
RYAAY	Exit	RYANAIR HLDGS PLC	$0	–	-841,798	–	-1.31%	–
GRPU	Exit	GRANITE REAL ESTATE INVT TRunit/99/99/9999	$0	–	-2,362,921	–	-1.32%	–
XLNX	Exit	XILINX INC	$0	–	-2,063,934	–	-1.74%	–
NATI	Exit	NATIONAL INSTRS CORP	$0	–	-3,358,297	–	-1.86%	–
LYV	Exit	LIVE NATION ENTERTAINMENT IN	$0	–	-4,005,325	–	-1.92%	–
MKL	Exit	MARKEL CORP	$0	–	-137,314	–	-2.19%	–
PTC	Exit	PTC INC	$0	–	-3,555,969	–	-2.24%	–
RXN	Exit	REXNORD CORP NEW	$0	–	-7,354,973	–	-2.48%	–
CRS	Exit	CARPENTER TECHNOLOGY CORP	$0	–	-4,723,577	–	-2.80%	–
UBNT	Exit	UBIQUITI NETWORKS INC	$0	–	-4,439,059	–	-2.99%	–
EMN	Exit	EASTMAN CHEM CO	$0	–	-2,333,947	–	-3.00%	–
UNP	Exit	UNION PAC CORP	$0	–	-1,791,550	–	-3.15%	–
ANTM	Exit	ANTHEM INC	$0	–	-1,179,295	–	-3.28%	–
SCI	Exit	SERVICE CORP INTL	$0	–	-6,534,661	–	-3.52%	–
FLS	Exit	FLOWSERVE CORP	$0	–	-4,590,288	–	-3.76%	–
WCC	Exit	WESCO INTL INC	$0	–	-4,676,499	–	-4.32%	–
RLGY	Exit	REALOGY HLDGS CORP	$0	–	-6,007,166	–	-4.50%	–
GNRC	Exit	GENERAC HLDGS INC	$0	–	-7,620,141	–	-4.56%	–
WBC	Exit	WABCO HLDGS INC	$0	–	-2,282,180	–	-4.76%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-5,677,001	–	-5.00%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-4,131,199	–	-5.01%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-5,289,658	–	-5.40%	–
ALR	Exit	ALERE INC	$0	–	-6,264,754	–	-6.00%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-5,184,536	–	-6.18%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-6,334,081	–	-7.16%	–

Q3 2015

			Value		Shares		↓ Weighting
AIG	Buy	AMERICAN INTL GROUP INC	$359,902,000	-3.8%	6,334,081	+4.7%	7.16%	-1.6%
TEL	Buy	TE CONNECTIVITY LTD	$310,502,000	-2.6%	5,184,536	+4.6%	6.18%	-0.4%
ALR	Sell	ALERE INC	$301,648,000	-14.0%	6,264,754	-5.8%	6.00%	-12.1%
WFC	Buy	WELLS FARGO & CO NEW	$271,624,000	-3.1%	5,289,658	+6.1%	5.40%	-1.0%
JPM	Sell	JPMORGAN CHASE & CO	$251,879,000	-15.4%	4,131,199	-6.0%	5.01%	-13.5%
MSFT	Sell	MICROSOFT CORP	$251,264,000	-1.9%	5,677,001	-2.1%	5.00%	+0.3%
WBC	Buy	WABCO HLDGS INC	$239,241,000	-10.1%	2,282,180	+6.1%	4.76%	-8.1%
GNRC	Buy	GENERAC HLDGS INC	$229,290,000	+5.5%	7,620,141	+39.4%	4.56%	+7.9%
RLGY	Buy	REALOGY HLDGS CORP	$226,050,000	+15.6%	6,007,166	+43.5%	4.50%	+18.2%
WCC	Buy	WESCO INTL INC	$217,317,000	+32.8%	4,676,499	+96.2%	4.32%	+35.8%
FLS	Buy	FLOWSERVE CORP	$188,844,000	-1.8%	4,590,288	+25.7%	3.76%	+0.4%
SCI	Sell	SERVICE CORP INTL	$177,089,000	-34.1%	6,534,661	-28.4%	3.52%	-32.6%
ANTM	Sell	ANTHEM INC	$165,101,000	-16.8%	1,179,295	-2.5%	3.28%	-15.0%
UNP	New	UNION PAC CORP	$158,391,000	–	1,791,550	–	3.15%	–
EMN	Buy	EASTMAN CHEM CO	$151,053,000	+4.6%	2,333,947	+32.2%	3.00%	+6.9%
UBNT	Buy	UBIQUITI NETWORKS INC	$150,440,000	+255.2%	4,439,059	+234.5%	2.99%	+263.1%
CRS	Sell	CARPENTER TECHNOLOGY CORP	$140,621,000	-23.7%	4,723,577	-0.8%	2.80%	-22.0%
RXN	Buy	REXNORD CORP NEW	$124,887,000	+1.3%	7,354,973	+42.6%	2.48%	+3.5%
PTC	Sell	PTC INC	$112,866,000	-22.9%	3,555,969	-0.3%	2.24%	-21.1%
MKL	Sell	MARKEL CORP	$110,107,000	-14.5%	137,314	-14.6%	2.19%	-12.6%
LYV	Buy	LIVE NATION ENTERTAINMENT IN	$96,288,000	+52.9%	4,005,325	+74.8%	1.92%	+56.3%
NATI	Sell	NATIONAL INSTRS CORP	$93,327,000	-7.5%	3,358,297	-1.9%	1.86%	-5.5%
XLNX	Sell	XILINX INC	$87,511,000	-5.4%	2,063,934	-1.5%	1.74%	-3.2%
GRPU	Buy	GRANITE REAL ESTATE INVT TRunit/99/99/9999	$66,277,000	+12.7%	2,362,921	+38.4%	1.32%	+15.1%
RYAAY	Sell	RYANAIR HLDGS PLC	$65,913,000	-49.5%	841,798	-54.0%	1.31%	-48.3%
J	Sell	JACOBS ENGR GROUP INC DEL	$58,318,000	-31.2%	1,558,048	-25.3%	1.16%	-29.7%
TISI	Buy	TEAM INC	$58,271,000	-9.9%	1,814,180	+12.9%	1.16%	-7.9%
ANET	New	ARISTA NETWORKS INC	$54,985,000	–	898,600	–	1.09%	–
TD	Buy	TORONTO DOMINION BK ONT	$45,625,000	+4.1%	1,162,140	+12.8%	0.91%	+6.3%
BNS	Buy	BANK N S HALIFAX	$45,427,000	+1.3%	1,034,560	+19.2%	0.90%	+3.6%
PEGA	Sell	PEGASYSTEMS INC	$38,617,000	+5.3%	1,569,177	-2.0%	0.77%	+7.7%
MMSI	Sell	MERIT MED SYS INC	$36,485,000	-54.5%	1,525,919	-59.0%	0.73%	-53.5%
GTE	Buy	GRAN TIERRA ENERGY INC	$11,527,000	-6.8%	5,400,079	+31.0%	0.23%	-5.0%
FNV	Buy	FRANCO NEVADA CORP	$10,655,000	+3.7%	242,730	+12.9%	0.21%	+6.0%
BACWSA	New	BANK AMER CORPw exp 01/16/201	$5,207,000	–	908,799	–	0.10%	–
SAND	New	SANDSTORM GOLD LTD	$1,185,000	–	447,100	–	0.02%	–
AIGWS	New	AMERICAN INTL GROUP INCw exp 01/19/202	$59,000	–	2,580	–	0.00%	–
AMN	Exit	AMN HEALTHCARE SERVICES INC	$0	–	-1,681,307	–	-1.03%	–

Q2 2015

			Value		Shares		↓ Weighting
AIG	New	AMERICAN INTL GROUP INC	$374,012,000	–	6,050,011	–	7.28%	–
ALR	New	ALERE INC	$350,907,000	–	6,652,260	–	6.83%	–
TEL	New	TE CONNECTIVITY LTD	$318,717,000	–	4,956,716	–	6.20%	–
JPM	New	JPMORGAN CHASE & CO	$297,739,000	–	4,394,019	–	5.79%	–
WFC	New	WELLS FARGO & CO NEW	$280,415,000	–	4,986,038	–	5.46%	–
SCI	New	SERVICE CORP INTL	$268,578,000	–	9,125,984	–	5.23%	–
WBC	New	WABCO HLDGS INC	$266,102,000	–	2,150,842	–	5.18%	–
MSFT	New	MICROSOFT CORP	$256,114,000	–	5,801,001	–	4.98%	–
GNRC	New	GENERAC HLDGS INC	$217,356,000	–	5,468,086	–	4.23%	–
ANTM	New	ANTHEM INC	$198,508,000	–	1,209,385	–	3.86%	–
RLGY	New	REALOGY HLDGS CORP	$195,530,000	–	4,185,146	–	3.80%	–
FLS	New	FLOWSERVE CORP	$192,343,000	–	3,652,548	–	3.74%	–
CRS	New	CARPENTER TECHNOLOGY CORP	$184,269,000	–	4,763,947	–	3.58%	–
WCC	New	WESCO INTL INC	$163,585,000	–	2,383,229	–	3.18%	–
PTC	New	PTC INC	$146,306,000	–	3,566,700	–	2.85%	–
EMN	New	EASTMAN CHEM CO	$144,406,000	–	1,764,927	–	2.81%	–
RYAAY	New	RYANAIR HLDGS PLC	$130,449,000	–	1,828,294	–	2.54%	–
MKL	New	MARKEL CORP	$128,729,000	–	160,774	–	2.50%	–
RXN	New	REXNORD CORP NEW	$123,322,000	–	5,157,777	–	2.40%	–
NATI	New	NATIONAL INSTRS CORP	$100,869,000	–	3,423,931	–	1.96%	–
XLNX	New	XILINX INC	$92,485,000	–	2,094,313	–	1.80%	–
J	New	JACOBS ENGR GROUP INC DEL	$84,745,000	–	2,086,278	–	1.65%	–
MMSI	New	MERIT MED SYS INC	$80,244,000	–	3,725,358	–	1.56%	–
TISI	New	TEAM INC	$64,690,000	–	1,607,194	–	1.26%	–
LYV	New	LIVE NATION ENTERTAINMENT IN	$62,978,000	–	2,290,946	–	1.22%	–
GRPU	New	GRANITE REAL ESTATE INVT TRunit/99/99/9999	$58,825,000	–	1,707,511	–	1.14%	–
AMN	New	AMN HEALTHCARE SERVICES INC	$53,112,000	–	1,681,307	–	1.03%	–
BNS	New	BANK N S HALIFAX	$44,855,000	–	867,600	–	0.87%	–
QSR	New	RESTAURANT BRANDS INTL INC	$44,658,000	–	1,163,348	–	0.87%	–
TD	New	TORONTO DOMINION BK ONT	$43,818,000	–	1,030,200	–	0.85%	–
UBNT	New	UBIQUITI NETWORKS INC	$42,359,000	–	1,327,242	–	0.82%	–
PEGA	New	PEGASYSTEMS INC	$36,660,000	–	1,601,567	–	0.71%	–
ALRPRB	New	ALERE INCperp pfd conv se	$27,614,000	–	77,324	–	0.54%	–
DGII	New	DIGI INTL INC	$25,689,000	–	2,689,963	–	0.50%	–
GTE	New	GRAN TIERRA ENERGY INC	$12,364,000	–	4,122,329	–	0.24%	–
EXFO	New	EXFO INC	$12,293,000	–	3,775,600	–	0.24%	–
FNV	New	FRANCO NEVADA CORP	$10,271,000	–	215,000	–	0.20%	–
CIGI	New	COLLIERS INTL GROUP INCsub vtg shrs	$3,721,000	–	97,083	–	0.07%	–

Q4 2014

			Value		Shares		↓ Weighting
IMRSQ	Exit	IMRIS INC	$0	–	-1,883,081	–	-0.03%	–
GTE	Exit	GRAN TIERRA ENERGY INC	$0	–	-1,624,673	–	-0.23%	–
FSRV	Exit	FIRSTSERVICE CORPsub vtg sh	$0	–	-182,683	–	-0.24%	–
FNV	Exit	FRANCO NEVADA CORP	$0	–	-215,000	–	-0.27%	–
EXFO	Exit	EXFO INC	$0	–	-3,775,600	–	-0.40%	–
DGII	Exit	DIGI INTL INC	$0	–	-2,689,963	–	-0.51%	–
EPAM	Exit	EPAM SYS INC	$0	–	-535,913	–	-0.59%	–
ALRPRB	Exit	ALERE INCperp pfd conv se	$0	–	-76,024	–	-0.62%	–
THI	Exit	TIM HORTONS INC	$0	–	-538,200	–	-1.07%	–
CVE	Exit	CENOVUS ENERGY INC	$0	–	-1,578,286	–	-1.07%	–
KNL	Exit	Knoll Inc.	$0	–	-2,724,376	–	-1.19%	–
GRPU	Exit	GRANITE REAL ESTATE INVT TRunit 99/99/9999	$0	–	-1,552,243	–	-1.35%	–
BNS	Exit	BANK N S HALIFAX	$0	–	-867,600	–	-1.36%	–
TD	Exit	TORONTO DOMINION BK ONT	$0	–	-1,114,600	–	-1.39%	–
TISI	Exit	Team Inc.	$0	–	-1,504,524	–	-1.44%	–
MMSI	Exit	MERIT MED SYS INC	$0	–	-4,888,100	–	-1.47%	–
NATI	Exit	NATIONAL INSTRS CORP	$0	–	-2,366,042	–	-1.85%	–
J	Exit	JACOBS ENGR GROUP INC DEL	$0	–	-1,789,709	–	-2.21%	–
AMN	Exit	AMN HEALTHCARE SERVICES INC	$0	–	-6,811,524	–	-2.70%	–
MKL	Exit	MARKEL CORP	$0	–	-191,898	–	-3.09%	–
RLGY	Exit	REALOGY HLDGS CORP	$0	–	-3,326,937	–	-3.13%	–
PTC	Exit	PTC Inc.	$0	–	-3,399,821	–	-3.17%	–
ALTR	Exit	Altera Corp.	$0	–	-3,652,261	–	-3.31%	–
XLNX	Exit	Xilinx Inc.	$0	–	-3,315,394	–	-3.55%	–
RYAAY	Exit	RYANAIR HLDGS PLCsponsored adr	$0	–	-2,503,347	–	-3.57%	–
CRS	Exit	CARPENTER TECHNOLOGY CORP	$0	–	-3,219,601	–	-3.68%	–
WCC	Exit	WESCO INTL INC	$0	–	-1,935,171	–	-3.83%	–
WBC	Exit	WABCO HLDGS INC	$0	–	-1,814,868	–	-4.18%	–
V107SC	Exit	WellPoint Inc.	$0	–	-1,445,503	–	-4.37%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-4,547,607	–	-5.33%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-3,576,262	–	-5.45%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-4,197,623	–	-5.74%	–
SCI	Exit	SERVICE CORP INTL	$0	–	-11,351,526	–	-6.07%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-4,994,464	–	-6.55%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-5,071,036	–	-7.09%	–
ALR	Exit	Alere Inc.	$0	–	-8,041,087	–	-7.89%	–

Q3 2014

			Value		Shares		↓ Weighting
ALR	Buy	Alere Inc.	$311,833,000	+6.6%	8,041,087	+2.9%	7.89%	+16.4%
TEL	Buy	TE CONNECTIVITY LTD	$280,378,000	-3.3%	5,071,036	+8.2%	7.09%	+5.6%
WFC	Sell	WELLS FARGO & CO NEW	$259,063,000	-2.1%	4,994,464	-0.8%	6.55%	+6.8%
SCI	Buy	SERVICE CORP INTL	$239,971,000	+9.3%	11,351,526	+7.1%	6.07%	+19.3%
AIG	Buy	AMERICAN INTL GROUP INC	$226,756,000	+6.5%	4,197,623	+7.6%	5.74%	+16.2%
JPM	Sell	JPMORGAN CHASE & CO	$215,434,000	+3.5%	3,576,262	-1.0%	5.45%	+13.0%
MSFT	Sell	MICROSOFT CORP	$210,827,000	-7.4%	4,547,607	-16.7%	5.33%	+1.1%
V107SC	Sell	WellPoint Inc.	$172,911,000	+10.3%	1,445,503	-0.8%	4.37%	+20.4%
WBC	Buy	WABCO HLDGS INC	$165,062,000	+13.8%	1,814,868	+33.6%	4.18%	+24.2%
WCC	Buy	WESCO INTL INC	$151,446,000	+0.4%	1,935,171	+10.8%	3.83%	+9.6%
CRS	Buy	CARPENTER TECHNOLOGY CORP	$145,365,000	-13.5%	3,219,601	+21.1%	3.68%	-5.6%
RYAAY	Sell	RYANAIR HLDGS PLCsponsored adr	$141,264,000	+0.2%	2,503,347	-0.9%	3.57%	+9.4%
XLNX	Buy	Xilinx Inc.	$140,407,000	+2.3%	3,315,394	+14.3%	3.55%	+11.7%
ALTR	Sell	Altera Corp.	$130,678,000	-13.0%	3,652,261	-15.5%	3.31%	-5.0%
PTC	Sell	PTC Inc.	$125,453,000	-6.0%	3,399,821	-1.1%	3.17%	+2.7%
RLGY	Buy	REALOGY HLDGS CORP	$123,762,000	+18.5%	3,326,937	+20.1%	3.13%	+29.4%
MKL	Sell	MARKEL CORP	$122,076,000	-8.0%	191,898	-5.2%	3.09%	+0.5%
AMN	Sell	AMN HEALTHCARE SERVICES INC	$106,941,000	+27.2%	6,811,524	-0.3%	2.70%	+38.9%
J	Sell	JACOBS ENGR GROUP INC DEL	$87,374,000	-9.6%	1,789,709	-1.3%	2.21%	-1.3%
MMSI	Buy	MERIT MED SYS INC	$58,071,000	-21.2%	4,888,100	+0.1%	1.47%	-14.0%
TISI	Buy	Team Inc.	$57,037,000	+0.6%	1,504,524	+8.8%	1.44%	+9.8%
KNL	Sell	Knoll Inc.	$47,159,000	-6.2%	2,724,376	-6.1%	1.19%	+2.4%
CVE	Buy	CENOVUS ENERGY INC	$42,392,000	-9.7%	1,578,286	+9.0%	1.07%	-1.4%
THI	Sell	TIM HORTONS INC	$42,312,000	-21.7%	538,200	-45.5%	1.07%	-14.5%
ALRPRB	Sell	ALERE INCperp pfd conv se	$24,658,000	+1.7%	76,024	-0.4%	0.62%	+11.0%
EXFO	Sell	EXFO INC	$15,819,000	-17.5%	3,775,600	-4.8%	0.40%	-9.9%
FNV	Sell	FRANCO NEVADA CORP	$10,536,000	-16.5%	215,000	-2.3%	0.27%	-8.6%
FSRV	Sell	FIRSTSERVICE CORPsub vtg sh	$9,573,000	-33.4%	182,683	-35.7%	0.24%	-27.3%
GTE	Buy	GRAN TIERRA ENERGY INC	$8,965,000	-24.8%	1,624,673	+10.7%	0.23%	-17.8%
IMRSQ	Sell	IMRIS INC	$1,142,000	-51.8%	1,883,081	-9.9%	0.03%	-47.3%
CM	Exit	CDN IMPERIAL BK COMM TORONTO	$0	–	-129,500	–	-0.27%	–
IRF	Exit	International Rectifier Corp.	$0	–	-659,600	–	-0.43%	–
3106PS	Exit	Delphi Automotive PLC	$0	–	-1,010,955	–	-1.61%	–
TEN	Exit	Tenneco Inc.	$0	–	-1,166,764	–	-1.78%	–
DRC	Exit	Dresser-Rand Group Inc.	$0	–	-2,499,767	–	-3.69%	–

Q2 2014

			Value		Shares		↓ Weighting
ALR	New	Alere Inc.	$292,476,000	–	7,816,041	–	6.78%	–
TEL	New	TE CONNECTIVITY LTD	$289,906,000	–	4,688,003	–	6.72%	–
WFC	New	WELLS FARGO & CO NEW	$264,716,000	–	5,036,463	–	6.13%	–
MSFT	New	Microsoft Corp.	$227,666,000	–	5,459,627	–	5.28%	–
SCI	New	SERVICE CORP INTL	$219,534,000	–	10,595,284	–	5.09%	–
AIG	New	AMERICAN INTL GROUP INC	$213,004,000	–	3,902,609	–	4.94%	–
JPM	New	JPMORGAN CHASE & CO	$208,108,000	–	3,611,734	–	4.82%	–
CRS	New	Carpenter Technology Corp.	$168,101,000	–	2,657,729	–	3.90%	–
DRC	New	Dresser-Rand Group Inc.	$159,310,000	–	2,499,767	–	3.69%	–
V107SC	New	WELLPOINT INC	$156,772,000	–	1,456,857	–	3.63%	–
WCC	New	WESCO INTL INC	$150,899,000	–	1,746,924	–	3.50%	–
ALTR	New	Altera Corp.	$150,220,000	–	4,321,628	–	3.48%	–
WBC	New	WABCO HLDGS INC	$145,108,000	–	1,358,436	–	3.36%	–
RYAAY	New	RYANAIR HLDGS PLCsponsored adr	$140,973,000	–	2,526,398	–	3.27%	–
XLNX	New	Xilinx Inc.	$137,271,000	–	2,901,527	–	3.18%	–
PTC	New	PTC Inc.	$133,406,000	–	3,438,304	–	3.09%	–
MKL	New	Markel Corp.	$132,664,000	–	202,343	–	3.07%	–
RLGY	New	REALOGY HLDGS CORP	$104,435,000	–	2,769,433	–	2.42%	–
J	New	JACOBS ENGR GROUP INC DEL	$96,612,000	–	1,813,281	–	2.24%	–
AMN	New	AMN Healthcare Services Inc.	$84,042,000	–	6,832,674	–	1.95%	–
NATI	New	NATIONAL INSTRS CORP	$76,636,000	–	2,366,042	–	1.78%	–
TEN	New	Tenneco Inc.	$76,656,000	–	1,166,764	–	1.78%	–
MMSI	New	MERIT MED SYS INC	$73,704,000	–	4,881,031	–	1.71%	–
3106PS	New	Delphi Automotive PLC	$69,493,000	–	1,010,955	–	1.61%	–
BNS	New	BANK N S HALIFAX	$57,815,000	–	867,600	–	1.34%	–
GRPU	New	GRANITE REAL ESTATE INVT TRunit 99/99/9999	$57,434,000	–	1,552,243	–	1.33%	–
TD	New	TORONTO DOMINION BK ONT	$57,351,000	–	1,114,600	–	1.33%	–
TISI	New	Team Inc.	$56,723,000	–	1,382,813	–	1.31%	–
THI	New	Tim Hortons Inc.	$54,031,000	–	988,200	–	1.25%	–
KNL	New	Knoll Inc.	$50,267,000	–	2,900,594	–	1.16%	–
CVE	New	Cenovus Energy Inc.	$46,934,000	–	1,448,529	–	1.09%	–
DGII	New	DIGI INTL INC	$25,339,000	–	2,689,963	–	0.59%	–
ALRPRB	New	Alere Inc.perp pfd conv se	$24,252,000	–	76,294	–	0.56%	–
EPAM	New	EPAM SYS INC	$23,446,000	–	535,913	–	0.54%	–
EXFO	New	EXFO Inc.	$19,175,000	–	3,967,100	–	0.44%	–
IRF	New	International Rectifier Corp.	$18,403,000	–	659,600	–	0.43%	–
FSRV	New	FIRSTSERVICE CORPsub vtg sh	$14,383,000	–	283,930	–	0.33%	–
FNV	New	FRANCO NEVADA CORP	$12,622,000	–	220,000	–	0.29%	–
GTE	New	Gran Tierra Energy Inc.	$11,917,000	–	1,467,400	–	0.28%	–
CM	New	CDN IMPERIAL BK COMM TORONTO	$11,779,000	–	129,500	–	0.27%	–
IMRSQ	New	IMRIS Inc.	$2,368,000	–	2,089,000	–	0.06%	–

Q4 2013

			Value		Shares		↓ Weighting
SAND	Exit	Sandstorm Gold Ltd.	$0	–	-266,500	–	-0.04%	–
IMRSQ	Exit	IMRIS Inc.	$0	–	-3,063,300	–	-0.14%	–
GTE	Exit	Gran Tierra Energy Inc.	$0	–	-1,487,400	–	-0.31%	–
FSRV	Exit	FirstService Corp.sub vtg sh	$0	–	-293,430	–	-0.33%	–
GIB	Exit	GROUPE CGI INCcl a sub vtg	$0	–	-355,581	–	-0.36%	–
CM	Exit	CDN IMPERIAL BK OF COMMERCE	$0	–	-189,700	–	-0.44%	–
ALRPRB	Exit	ALERE INCperp pfd conv se	$0	–	-76,024	–	-0.58%	–
CVE	Exit	Cenovus Energy Inc.	$0	–	-703,529	–	-0.61%	–
EXFO	Exit	EXFO Inc.	$0	–	-3,954,700	–	-0.63%	–
FNV	Exit	Franco-Nevada Corp.	$0	–	-580,000	–	-0.77%	–
DGII	Exit	DIGI INTL INC	$0	–	-2,689,963	–	-0.79%	–
THI	Exit	Tim Hortons Inc.	$0	–	-598,200	–	-1.02%	–
GRPU	Exit	GRANITE REAL ESTATE INVT TRunit 99/99/9999	$0	–	-1,139,043	–	-1.20%	–
DW	Exit	DREW INDS INC	$0	–	-934,898	–	-1.24%	–
CSL	Exit	CARLISLE COS INC	$0	–	-644,921	–	-1.32%	–
DRC	Exit	Dresser-Rand Group Inc.	$0	–	-745,116	–	-1.36%	–
BNS	Exit	BANK N S HALIFAX	$0	–	-872,600	–	-1.46%	–
TD	Exit	TORONTO DOMINION BK ONT	$0	–	-564,800	–	-1.49%	–
TISI	Exit	Team Inc	$0	–	-1,370,581	–	-1.59%	–
NATI	Exit	NATIONAL INSTRS CORP	$0	–	-1,994,089	–	-1.80%	–
3106PS	Exit	Delphi Automotive PLC	$0	–	-1,156,259	–	-1.97%	–
SHFL	Exit	SHFL ENTMT INC	$0	–	-2,943,566	–	-1.98%	–
KNL	Exit	Knoll Inc	$0	–	-4,089,039	–	-2.02%	–
MMSI	Exit	MERIT MED SYS INC	$0	–	-5,933,157	–	-2.10%	–
AMN	Exit	AMN Healthcare Services Inc.	$0	–	-6,006,667	–	-2.42%	–
PGR	Exit	PROGRESSIVE CORP OHIO	$0	–	-3,186,128	–	-2.54%	–
WCC	Exit	WESCO INTL INC	$0	–	-1,176,054	–	-2.63%	–
J	Exit	JACOBS ENGR GROUP INC DEL	$0	–	-1,549,830	–	-2.63%	–
MAN	Exit	MANPOWERGROUP INC	$0	–	-1,401,319	–	-2.98%	–
PTC	Exit	PTC Inc	$0	–	-3,737,842	–	-3.10%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-2,301,220	–	-3.48%	–
TEN	Exit	Tenneco Inc	$0	–	-2,370,845	–	-3.50%	–
WBC	Exit	WABCO HLDGS INC	$0	–	-1,432,327	–	-3.53%	–
V107SC	Exit	WELLPOINT INC	$0	–	-1,556,131	–	-3.80%	–
XLNX	Exit	XILINX INC	$0	–	-2,825,418	–	-3.87%	–
ALTR	Exit	Altera Corp.	$0	–	-4,001,831	–	-4.34%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-3,112,237	–	-4.42%	–
IRF	Exit	International Rectifier Corp	$0	–	-6,321,404	–	-4.57%	–
RYAAY	Exit	RYANAIR HLDGS PLCsponsored adr	$0	–	-3,231,360	–	-4.70%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-4,305,824	–	-5.20%	–
JPM	Exit	JPMorgan Chase & Co	$0	–	-3,512,330	–	-5.30%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-5,637,042	–	-5.49%	–
ALR	Exit	Alere Inc.	$0	–	-6,650,262	–	-5.94%	–

Q3 2013

			Value		Shares		↓ Weighting
ALR	Sell	Alere Inc.	$203,299,000	+9.6%	6,650,262	-12.2%	5.94%	-3.7%
MSFT	Buy	MICROSOFT CORP	$187,770,000	+12.4%	5,637,042	+16.5%	5.49%	-1.3%
JPM	Buy	JPMorgan Chase & Co	$181,552,000	+6.0%	3,512,330	+8.3%	5.30%	-6.9%
WFC	Sell	WELLS FARGO & CO NEW	$177,917,000	-2.0%	4,305,824	-2.1%	5.20%	-13.9%
RYAAY	Buy	RYANAIR HLDGS PLCsponsored adr	$160,728,000	+0.6%	3,231,360	+4.2%	4.70%	-11.6%
IRF	Sell	International Rectifier Corp	$156,581,000	+8.8%	6,321,404	-8.0%	4.57%	-4.4%
AIG	Sell	AMERICAN INTL GROUP INC	$151,348,000	+8.1%	3,112,237	-0.7%	4.42%	-5.0%
ALTR	Sell	Altera Corp.	$148,708,000	-17.6%	4,001,831	-26.8%	4.34%	-27.6%
XLNX	Buy	XILINX INC	$132,399,000	+95.1%	2,825,418	+64.9%	3.87%	+71.4%
V107SC	Sell	WELLPOINT INC	$130,108,000	-4.3%	1,556,131	-6.3%	3.80%	-15.9%
WBC	Sell	WABCO HLDGS INC	$120,688,000	+11.3%	1,432,327	-1.3%	3.53%	-2.2%
TEN	Sell	Tenneco Inc	$119,728,000	+3.6%	2,370,845	-7.1%	3.50%	-9.0%
TEL	Buy	TE CONNECTIVITY LTD	$119,157,000	+14.6%	2,301,220	+0.8%	3.48%	+0.6%
MAN	Buy	MANPOWERGROUP INC	$101,932,000	+41.4%	1,401,319	+6.6%	2.98%	+24.2%
J	Buy	JACOBS ENGR GROUP INC DEL	$90,169,000	+12.8%	1,549,830	+6.9%	2.63%	-0.9%
WCC	New	WESCO INTL INC	$90,003,000	–	1,176,054	–	2.63%	–
PGR	Buy	PROGRESSIVE CORP OHIO	$86,758,000	+23.1%	3,186,128	+15.0%	2.54%	+8.2%
AMN	Sell	AMN Healthcare Services Inc.	$82,652,000	-6.8%	6,006,667	-3.0%	2.42%	-18.1%
KNL	Sell	Knoll Inc	$69,268,000	+11.8%	4,089,039	-6.2%	2.02%	-1.7%
3106PS	Sell	Delphi Automotive PLC	$67,549,000	+10.7%	1,156,259	-3.9%	1.97%	-2.8%
NATI	Buy	NATIONAL INSTRS CORP	$61,677,000	+54.6%	1,994,089	+39.7%	1.80%	+35.9%
TISI	Sell	Team Inc	$54,481,000	+3.8%	1,370,581	-1.2%	1.59%	-8.8%
DRC	New	Dresser-Rand Group Inc.	$46,495,000	–	745,116	–	1.36%	–
CSL	Sell	CARLISLE COS INC	$45,331,000	+10.5%	644,921	-2.1%	1.32%	-3.0%
DW	Sell	DREW INDS INC	$42,575,000	+14.4%	934,898	-1.2%	1.24%	+0.5%
DGII	Buy	DIGI INTL INC	$26,927,000	+7.4%	2,689,963	+0.6%	0.79%	-5.6%
CVE	Buy	Cenovus Energy Inc.	$21,026,000	+30.5%	703,529	+24.5%	0.61%	+14.6%
ACXM	Exit	Acxiom Corp.	$0	–	-102,775	–	-0.08%	–
ALSN	Exit	Allison Transmission Holdings Inc.	$0	–	-148,749	–	-0.11%	–
FBHS	Exit	FORTUNE BRANDS HOME & SEC IN	$0	–	-325,381	–	-0.42%	–

Q2 2013

			Value		Shares		↓ Weighting
ALR	New	Alere Inc.	$185,474,000	–	7,570,354	–	6.17%	–
WFC	New	WELLS FARGO & CO NEW	$181,464,000	–	4,397,000	–	6.04%	–
ALTR	New	Altera Corp.	$180,444,000	–	5,469,653	–	6.00%	–
JPM	New	JPMorgan Chase & Co.	$171,273,000	–	3,244,423	–	5.70%	–
MSFT	New	Microsoft Corp.	$167,100,000	–	4,839,265	–	5.56%	–
RYAAY	New	RYANAIR HLDGS PLCsponsored adr	$159,799,000	–	3,101,078	–	5.31%	–
IRF	New	International Rectifier Corp.	$143,926,000	–	6,873,257	–	4.79%	–
AIG	New	American International Group Inc.	$140,029,000	–	3,132,635	–	4.66%	–
V107SC	New	WellPoint Inc.	$135,958,000	–	1,661,268	–	4.52%	–
TEN	New	Tenneco Inc.	$115,605,000	–	2,553,123	–	3.84%	–
WBC	New	WABCO Holdings Inc.	$108,424,000	–	1,451,660	–	3.61%	–
TEL	New	TE Connectivity Ltd.	$104,015,000	–	2,284,036	–	3.46%	–
PTC	New	PTC Inc.	$91,689,000	–	3,737,842	–	3.05%	–
AMN	New	AMN Healthcare Services Inc.	$88,700,000	–	6,194,164	–	2.95%	–
J	New	JACOBS ENGR GROUP INC DEL	$79,939,000	–	1,450,000	–	2.66%	–
MAN	New	ManpowerGroup	$72,071,000	–	1,315,159	–	2.40%	–
PGR	New	PROGRESSIVE CORP OHIO	$70,454,000	–	2,771,596	–	2.34%	–
XLNX	New	Xilinx Inc.	$67,856,000	–	1,713,115	–	2.26%	–
MMSI	New	MERIT MED SYS INC	$66,155,000	–	5,933,157	–	2.20%	–
KNL	New	Knoll Inc.	$61,958,000	–	4,360,136	–	2.06%	–
3106PS	New	Delphi Automotive PLC	$61,013,000	–	1,203,657	–	2.03%	–
TISI	New	Team Inc.	$52,480,000	–	1,386,528	–	1.74%	–
SHFL	New	SHFL ENTMT INC	$52,131,000	–	2,943,566	–	1.73%	–
BNS	New	BANK N S HALIFAX	$46,650,000	–	872,600	–	1.55%	–
TD	New	TORONTO DOMINION BK ONT	$45,368,000	–	564,800	–	1.51%	–
CSL	New	Carlisle Cos Inc.	$41,032,000	–	658,512	–	1.36%	–
NATI	New	NATIONAL INSTRS CORP	$39,882,000	–	1,427,433	–	1.33%	–
GRPU	New	GRANITE REAL ESTATE INVT TRunit 99/99/9999	$39,253,000	–	1,139,043	–	1.30%	–
DW	New	DREW INDS INC	$37,225,000	–	946,712	–	1.24%	–
THI	New	Tim Hortons Inc.	$32,356,000	–	598,200	–	1.08%	–
DGII	New	DIGI INTL INC	$25,067,000	–	2,675,221	–	0.83%	–
FNV	New	Franco Nevada Corp.	$20,765,000	–	580,000	–	0.69%	–
EXFO	New	EXFO Inc.	$17,637,000	–	3,954,700	–	0.59%	–
ALRPRB	New	Alere Inc., 3% preferred, series Bperp pfd conv se	$17,105,000	–	76,024	–	0.57%	–
CVE	New	Cenovus Energy Inc.	$16,118,000	–	565,000	–	0.54%	–
CM	New	Canadian Imperial Bank Of Commerce	$13,464,000	–	189,700	–	0.45%	–
FBHS	New	FORTUNE BRANDS HOME & SEC IN	$12,605,000	–	325,381	–	0.42%	–
GIB	New	GROUPE CGI INCcl a sub vtg	$10,414,000	–	355,581	–	0.35%	–
FSRV	New	FirstService Corp.sub vtg sh	$9,202,000	–	293,430	–	0.31%	–
GTE	New	Gran Tierra Energy Inc.	$9,081,000	–	1,487,400	–	0.30%	–
IMRSQ	New	IMRIS Inc.	$8,448,000	–	3,063,300	–	0.28%	–
ALSN	New	Allison Transmission Holdings Inc.	$3,433,000	–	148,749	–	0.11%	–
ACXM	New	Acxiom Corp.	$2,331,000	–	102,775	–	0.08%	–
SAND	New	Sandstorm Gold Ltd.	$1,564,000	–	266,500	–	0.05%	–

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