# EDGAR Filing Document

**Accession Number:** 0001539919
**File Stem:** 0001539919-23-000001
**Filing Date:** 2023-2
**Character Count:** 22328
**Document Hash:** 712e6ce6147474e3ff6da3c06cecab33
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001539919-23-000001.hdr.sgml**: 20230210

**ACCESSION NUMBER**: 0001539919-23-000001

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230210

**DATE AS OF CHANGE**: 20230210

**EFFECTIVENESS DATE**: 20230210

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Waratah Capital Advisors Ltd.
- **CENTRAL INDEX KEY:** 0001539919
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** A6
- **FISCAL YEAR END:** 1212

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-15447
- **FILM NUMBER:** 23609079

**BUSINESS ADDRESS:**
- **STREET 1:** 1133 YONGE STREET, 5TH FLOOR
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M4T 2Y7
- **BUSINESS PHONE:** 416 637 5622

**MAIL ADDRESS:**
- **STREET 1:** 1133 YONGE STREET, 5TH FLOOR
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M4T 2Y7

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Waratah Capital Advisors Ltd.<br>**Address:** 1133 YONGE STREET 5TH FLOOR<br>TORONTO, A6 M4T 2Y7

**Form 13F File Number:** 028-15447

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Dimitri Michalopoulos<br>**Title:** CCO<br>**Phone:** 416 637 5622

**Signature, Place, and Date of Signing:**

D. Michalopoulos  Toronto, A6  02-10-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 184

**Form 13F Information Table Value Total:** $6120329413

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 1255437 | 19383 | SH |  | SOLE | N/A | 19383 | 0 | 0 |
| AGNICO EAGLE MINES LTD | COM | 008474108 |  | 19197462 | 369442 | SH |  | SOLE | N/A | 369442 | 0 | 0 |
| ALBEMARLE CORP | COM | 012653101 |  | 1296389 | 5978 | SH |  | SOLE | N/A | 5978 | 0 | 0 |
| ALIGN TECHNOLOGY INC | COM | 016255101 |  | 1249582 | 5925 | SH |  | SOLE | N/A | 5925 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 12321761 | 139655 | SH |  | SOLE | N/A | 139655 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 12633852 | 150403 | SH |  | SOLE | N/A | 150403 | 0 | 0 |
| AMETEK INC | COM | 031100100 |  | 592832 | 4243 | SH |  | SOLE | N/A | 4243 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 44176200 | 340000 | SH | Put | SOLE | N/A | 340000 | 0 | 0 |
| ARIS WATER SOLUTIONS INC | CLASS A COM | 04041L106 |  | 3817497 | 264920 | SH |  | SOLE | N/A | 264920 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 1204124 | 65406 | SH |  | SOLE | N/A | 65406 | 0 | 0 |
| ATLASSIAN CORPORATION | CL A | 049468101 |  | 2447236 | 19018 | SH |  | SOLE | N/A | 19018 | 0 | 0 |
| AVANTOR INC | COM | 05352A100 |  | 1373444 | 65123 | SH |  | SOLE | N/A | 65123 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 61499827 | 199093 | SH |  | SOLE | N/A | 199093 | 0 | 0 |
| BILL COM HLDGS INC | COM | 090043100 |  | 1321467 | 12128 | SH |  | SOLE | N/A | 12128 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 1022243 | 22093 | SH |  | SOLE | N/A | 22093 | 0 | 0 |
| BROOKFIELD ASSET MANAGMT LTD | CL A LMT VTG SHS | 113004105 |  | 6262963 | 218732 | SH |  | SOLE | N/A | 218732 | 0 | 0 |
| BROOKFIELD BUSINESS PARTNERS | UNIT LTD L P | G16234109 |  | 844730 | 49969 | SH |  | SOLE | N/A | 49969 | 0 | 0 |
| BROOKFIELD CORP | CL A LTD VT SH | 11271J107 |  | 19520013 | 620730 | SH |  | SOLE | N/A | 620730 | 0 | 0 |
| BURLINGTON STORES INC | COM | 122017106 |  | 4442472 | 21910 | SH |  | SOLE | N/A | 21910 | 0 | 0 |
| CANADIAN NAT RES LTD | COM | 136385101 |  | 129582706 | 2333540 | SH |  | SOLE | N/A | 2333540 | 0 | 0 |
| CANADIAN PAC RY LTD | COM | 13645T100 |  | 18263419 | 244965 | SH |  | SOLE | N/A | 244965 | 0 | 0 |
| CANNAE HLDGS INC | COM | 13765N107 |  | 875890 | 42416 | SH |  | SOLE | N/A | 42416 | 0 | 0 |
| CARMAX INC | COM | 143130102 |  | 595382 | 9778 | SH |  | SOLE | N/A | 9778 | 0 | 0 |
| CARRIER GLOBAL CORPORATION | COM | 14448C104 |  | 24982196 | 605629 | SH |  | SOLE | N/A | 605629 | 0 | 0 |
| CEDAR FAIR L P | DEPOSITRY UNIT | 150185106 |  | 4448184 | 107600 | SH | Call | SOLE | N/A | 107600 | 0 | 0 |
| CEDAR FAIR L P | DEPOSITRY UNIT | 150185106 |  | 76380445 | 1847616 | SH |  | SOLE | N/A | 1847616 | 0 | 0 |
| CENOVUS ENERGY INC | COM | 15135U109 |  | 80234427 | 4135509 | SH |  | SOLE | N/A | 4135509 | 0 | 0 |
| CERIDIAN HCM HLDG INC | COM | 15677J108 |  | 2268985 | 35370 | SH |  | SOLE | N/A | 35370 | 0 | 0 |
| CF INDS HLDGS INC | COM | 125269100 |  | 555248 | 6517 | SH |  | SOLE | N/A | 6517 | 0 | 0 |
| CGI INC | CL A SUB VTG | 12532H104 |  | 2356128 | 27335 | SH |  | SOLE | N/A | 27335 | 0 | 0 |
| CHARLES RIV LABS INTL INC | COM | 159864107 |  | 2080073 | 9546 | SH |  | SOLE | N/A | 9546 | 0 | 0 |
| CHARTER COMMUNICATIONS INC N | CL A | 16119P108 |  | 6211634 | 18318 | SH |  | SOLE | N/A | 18318 | 0 | 0 |
| CHEMED CORP NEW | COM | 16359R103 |  | 2738457 | 5365 | SH |  | SOLE | N/A | 5365 | 0 | 0 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 10097107 | 67332 | SH |  | SOLE | N/A | 67332 | 0 | 0 |
| CHEWY INC | CL A | 16679L109 |  | 6965700 | 187856 | SH |  | SOLE | N/A | 187856 | 0 | 0 |
| CHORD ENERGY CORPORATION | COM NEW | 674215207 |  | 2052150 | 15000 | SH |  | SOLE | N/A | 15000 | 0 | 0 |
| CHUBB LIMITED | COM | H1467J104 |  | 2994645 | 13575 | SH |  | SOLE | N/A | 13575 | 0 | 0 |
| CHURCH  DWIGHT CO INC | COM | 171340102 |  | 1366420 | 16951 | SH |  | SOLE | N/A | 16951 | 0 | 0 |
| CHURCHILL DOWNS INC | COM | 171484108 |  | 3137833 | 14841 | SH |  | SOLE | N/A | 14841 | 0 | 0 |
| CIGNA CORP NEW | COM | 125523100 |  | 2973445 | 8974 | SH |  | SOLE | N/A | 8974 | 0 | 0 |
| CIGNA CORP NEW | COM | 125523100 |  | 4373688 | 13200 | SH | Call | SOLE | N/A | 13200 | 0 | 0 |
| CLEVELAND-CLIFFS INC NEW | COM | 185899101 |  | 2572316 | 159672 | SH |  | SOLE | N/A | 159672 | 0 | 0 |
| COLLIERS INTL GROUP INC | NOTE  4.000% 6/0 | 194693AB3 |  | 22335747 | 13269000 | PRN |  | SOLE | N/A | 13269000 | 0 | 0 |
| COLLIERS INTL GROUP INC | SUB VTG SHS | 194693107 |  | 17220645 | 187468 | SH |  | SOLE | N/A | 187468 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 11800000 | 100000 | SH | Call | SOLE | N/A | 100000 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 23600000 | 200000 | SH |  | SOLE | N/A | 200000 | 0 | 0 |
| CRESCENT PT ENERGY CORP | COM | 22576C101 |  | 139667 | 19577 | SH |  | SOLE | N/A | 19577 | 0 | 0 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 1106703 | 10511 | SH |  | SOLE | N/A | 10511 | 0 | 0 |
| CSX CORP | COM | 126408103 |  | 14386337 | 464375 | SH |  | SOLE | N/A | 464375 | 0 | 0 |
| DANAHER CORPORATION | COM | 235851102 |  | 2113539 | 7963 | SH |  | SOLE | N/A | 7963 | 0 | 0 |
| DENBURY INC | COM | 24790A101 |  | 567109 | 6517 | SH |  | SOLE | N/A | 6517 | 0 | 0 |
| DESCARTES SYS GROUP INC | COM | 249906108 |  | 2271653 | 32587 | SH |  | SOLE | N/A | 32587 | 0 | 0 |
| DEVON ENERGY CORP NEW | COM | 25179M103 |  | 4305700 | 70000 | SH |  | SOLE | N/A | 70000 | 0 | 0 |
| DEXCOM INC | COM | 252131107 |  | 2763396 | 24403 | SH |  | SOLE | N/A | 24403 | 0 | 0 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 1293984 | 12905 | SH |  | SOLE | N/A | 12905 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 21350412 | 245746 | SH |  | SOLE | N/A | 245746 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 21720000 | 250000 | SH | Call | SOLE | N/A | 250000 | 0 | 0 |
| DOMINOS PIZZA INC | COM | 25754A201 |  | 1143120 | 3300 | SH |  | SOLE | N/A | 3300 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 |  | 1250578 | 7968 | SH |  | SOLE | N/A | 7968 | 0 | 0 |
| ENERPLUS CORP | COM | 292766102 |  | 13784434 | 780943 | SH |  | SOLE | N/A | 780943 | 0 | 0 |
| ENPHASE ENERGY INC | COM | 29355A107 |  | 2951389 | 11139 | SH |  | SOLE | N/A | 11139 | 0 | 0 |
| ENPHASE ENERGY INC | COM | 29355A107 |  | 21196800 | 80000 | SH | Call | SOLE | N/A | 80000 | 0 | 0 |
| ENVISTA HOLDINGS CORPORATION | COM | 29415F104 |  | 866295 | 25729 | SH |  | SOLE | N/A | 25729 | 0 | 0 |
| EOG RES INC | COM | 26875P101 |  | 5828400 | 45000 | SH |  | SOLE | N/A | 45000 | 0 | 0 |
| EQT CORP | COM | 26884L109 |  | 8185744 | 241967 | SH |  | SOLE | N/A | 241967 | 0 | 0 |
| EQUITY LIFESTYLE PPTYS INC | COM | 29472R108 |  | 3265142 | 50544 | SH |  | SOLE | N/A | 50544 | 0 | 0 |
| EUROPEAN WAX CTR INC | CLASS A COM | 29882P106 |  | 374172 | 30054 | SH |  | SOLE | N/A | 30054 | 0 | 0 |
| EVOQUA WATER TECHNOLOGIES CO | COM | 30057T105 |  | 1908641 | 48198 | SH |  | SOLE | N/A | 48198 | 0 | 0 |
| FIRST SOLAR INC | COM | 336433107 |  | 540742 | 3610 | SH |  | SOLE | N/A | 3610 | 0 | 0 |
| FIRSTSERVICE CORP NEW | COM | 33767E202 |  | 13126375 | 107192 | SH |  | SOLE | N/A | 107192 | 0 | 0 |
| FIVE BELOW INC | COM | 33829M101 |  | 12893823 | 72900 | SH |  | SOLE | N/A | 72900 | 0 | 0 |
| FLOOR  DECOR HLDGS INC | CL A | 339750101 |  | 9598356 | 137848 | SH |  | SOLE | N/A | 137848 | 0 | 0 |
| FRANCO NEV CORP | COM | 351858105 |  | 13787510 | 101147 | SH |  | SOLE | N/A | 101147 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 849908 | 22366 | SH |  | SOLE | N/A | 22366 | 0 | 0 |
| FREYR BATTERY | SHS | L4135L100 |  | 846369 | 97508 | SH |  | SOLE | N/A | 97508 | 0 | 0 |
| GENERAC HLDGS INC | COM | 368736104 |  | 1494499 | 14847 | SH |  | SOLE | N/A | 14847 | 0 | 0 |
| GRANITE REAL ESTATE INVT TR | UNIT 99/99/9999 | 387437114 |  | 1885577 | 36959 | SH |  | SOLE | N/A | 36959 | 0 | 0 |
| GRAPHIC PACKAGING HLDG CO | COM | 388689101 |  | 92765033 | 4169215 | SH |  | SOLE | N/A | 4169215 | 0 | 0 |
| HELMERICH  PAYNE INC | COM | 423452101 |  | 598409 | 12072 | SH |  | SOLE | N/A | 12072 | 0 | 0 |
| HESS CORP | COM | 42809H107 |  | 27214265 | 191893 | SH |  | SOLE | N/A | 191893 | 0 | 0 |
| HILTON WORLDWIDE HLDGS INC | COM | 43300A203 |  | 1281290 | 10140 | SH |  | SOLE | N/A | 10140 | 0 | 0 |
| HYATT HOTELS CORP | COM CL A | 448579102 |  | 265380 | 2934 | SH |  | SOLE | N/A | 2934 | 0 | 0 |
| IDEXX LABS INC | COM | 45168D104 |  | 2416347 | 5923 | SH |  | SOLE | N/A | 5923 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 905374 | 3412 | SH |  | SOLE | N/A | 3412 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 2228444064 | 8368800 | SH | Call | SOLE | N/A | 8368800 | 0 | 0 |
| IQVIA HLDGS INC | COM | 46266C105 |  | 1057232 | 5160 | SH |  | SOLE | N/A | 5160 | 0 | 0 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 29868000 | 300000 | SH | Put | SOLE | N/A | 300000 | 0 | 0 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 212451084 | 2133900 | SH | Call | SOLE | N/A | 2133900 | 0 | 0 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 |  | 117808000 | 1600000 | SH | Put | SOLE | N/A | 1600000 | 0 | 0 |
| ISHARES TR | RUS 2000 GRW ETF | 464287648 |  | 1657596 | 7727 | SH |  | SOLE | N/A | 7727 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 69744000 | 400000 | SH | Call | SOLE | N/A | 400000 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 242360400 | 1390000 | SH | Put | SOLE | N/A | 1390000 | 0 | 0 |
| ISHARES TR | U.S. REAL ES ETF | 464287739 |  | 226572128 | 2691200 | SH | Put | SOLE | N/A | 2691200 | 0 | 0 |
| ISHARES TR | US HOME CONS ETF | 464288752 |  | 2248082 | 37094 | SH |  | SOLE | N/A | 37094 | 0 | 0 |
| KNIGHT-SWIFT TRANSN HLDGS IN | CL A | 499049104 |  | 561992 | 10723 | SH |  | SOLE | N/A | 10723 | 0 | 0 |
| KRAFT HEINZ CO | COM | 500754106 |  | 5922735 | 145486 | SH |  | SOLE | N/A | 145486 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | COM SER C FRMLA | 531229854 |  | 1806910 | 30226 | SH |  | SOLE | N/A | 30226 | 0 | 0 |
| LINCOLN NATL CORP IND | COM | 534187109 |  | 1266893 | 41240 | SH |  | SOLE | N/A | 41240 | 0 | 0 |
| LITHIA MTRS INC | COM | 536797103 |  | 1265293 | 6180 | SH |  | SOLE | N/A | 6180 | 0 | 0 |
| LULULEMON ATHLETICA INC | COM | 550021109 |  | 1346237 | 4202 | SH |  | SOLE | N/A | 4202 | 0 | 0 |
| MAGNA INTL INC | COM | 559222401 |  | 1235358 | 21992 | SH |  | SOLE | N/A | 21992 | 0 | 0 |
| MARTIN MARIETTA MATLS INC | COM | 573284106 |  | 3762620 | 11133 | SH |  | SOLE | N/A | 11133 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 4120600 | 11850 | SH |  | SOLE | N/A | 11850 | 0 | 0 |
| MATADOR RES CO | COM | 576485205 |  | 4293000 | 75000 | SH |  | SOLE | N/A | 75000 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 35128833 | 146480 | SH |  | SOLE | N/A | 146480 | 0 | 0 |
| MISTER CAR WASH INC | COM | 60646V105 |  | 7350135 | 796331 | SH |  | SOLE | N/A | 796331 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 19956594 | 67677 | SH |  | SOLE | N/A | 67677 | 0 | 0 |
| NEXGEN ENERGY LTD | COM | 65340P106 |  | 34610510 | 7823651 | SH |  | SOLE | N/A | 7823651 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 3991482 | 47745 | SH |  | SOLE | N/A | 47745 | 0 | 0 |
| NEXTIER OILFIELD SOLUTIONS | COM | 65290C105 |  | 120120 | 13000 | SH |  | SOLE | N/A | 13000 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 4210137 | 35981 | SH |  | SOLE | N/A | 35981 | 0 | 0 |
| NOBLE CORP PLC | ORD SHS A | G65431127 |  | 629757 | 16700 | SH |  | SOLE | N/A | 16700 | 0 | 0 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 3309670 | 6066 | SH |  | SOLE | N/A | 6066 | 0 | 0 |
| NUTRIEN LTD | COM | 67077M108 |  | 582793 | 7983 | SH |  | SOLE | N/A | 7983 | 0 | 0 |
| NVR INC | COM | 62944T105 |  | 2149462 | 466 | SH |  | SOLE | N/A | 466 | 0 | 0 |
| OCCIDENTAL PETE CORP | COM | 674599105 |  | 8370111 | 132880 | SH |  | SOLE | N/A | 132880 | 0 | 0 |
| OLD DOMINION FREIGHT LINE IN | COM | 679580100 |  | 227592 | 802 | SH |  | SOLE | N/A | 802 | 0 | 0 |
| OPEN TEXT CORP | COM | 683715106 |  | 3909243 | 131935 | SH |  | SOLE | N/A | 131935 | 0 | 0 |
| PAYCOM SOFTWARE INC | COM | 70432V102 |  | 26872225 | 86598 | SH |  | SOLE | N/A | 86598 | 0 | 0 |
| PEABODY ENERGY CORP | COM | 704551100 |  | 8576725 | 324630 | SH |  | SOLE | N/A | 324630 | 0 | 0 |
| PENTAIR PLC | SHS | G7S00T104 |  | 2657688 | 59086 | SH |  | SOLE | N/A | 59086 | 0 | 0 |
| PERKINELMER INC | COM | 714046109 |  | 1124845 | 8022 | SH |  | SOLE | N/A | 8022 | 0 | 0 |
| PLANET FITNESS INC | CL A | 72703H101 |  | 652937 | 8286 | SH |  | SOLE | N/A | 8286 | 0 | 0 |
| POOL CORP | COM | 73278L105 |  | 24401961 | 80713 | SH |  | SOLE | N/A | 80713 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 278719 | 1839 | SH |  | SOLE | N/A | 1839 | 0 | 0 |
| PROLOGIS INC. | COM | 74340W103 |  | 48345726 | 428863 | SH |  | SOLE | N/A | 428863 | 0 | 0 |
| QUANTA SVCS INC | COM | 74762E102 |  | 1082002 | 7593 | SH |  | SOLE | N/A | 7593 | 0 | 0 |
| R1 RCM INC | COM | 77634L105 |  | 595341 | 54369 | SH |  | SOLE | N/A | 54369 | 0 | 0 |
| RESTAURANT BRANDS INTL INC | COM | 76131D103 |  | 1131919 | 17503 | SH |  | SOLE | N/A | 17503 | 0 | 0 |
| REXFORD INDL RLTY INC | COM | 76169C100 |  | 12321757 | 225508 | SH |  | SOLE | N/A | 225508 | 0 | 0 |
| RITCHIE BROS AUCTIONEERS | COM | 767744105 |  | 643341 | 11138 | SH |  | SOLE | N/A | 11138 | 0 | 0 |
| ROGERS COMMUNICATIONS INC | CL B | 775109200 |  | 10762833 | 229970 | SH |  | SOLE | N/A | 229970 | 0 | 0 |
| ROPER TECHNOLOGIES INC | COM | 776696106 |  | 11127182 | 25752 | SH |  | SOLE | N/A | 25752 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 7918986 | 23643 | SH |  | SOLE | N/A | 23643 | 0 | 0 |
| SANDSTORM GOLD LTD | COM NEW | 80013R206 |  | 198430 | 37736 | SH |  | SOLE | N/A | 37736 | 0 | 0 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 157446000 | 1800000 | SH | Call | SOLE | N/A | 1800000 | 0 | 0 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 |  | 1164134 | 34039 | SH |  | SOLE | N/A | 34039 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI INT-INDS | 81369Y704 |  | 84460600 | 860000 | SH | Put | SOLE | N/A | 860000 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI INT-UTILS | 81369Y886 |  | 27882750 | 395500 | SH | Put | SOLE | N/A | 395500 | 0 | 0 |
| SERVICENOW INC | COM | 81762P102 |  | 1423010 | 3665 | SH |  | SOLE | N/A | 3665 | 0 | 0 |
| SILVERCREST METALS INC | COM | 828363101 |  | 123980 | 20725 | SH |  | SOLE | N/A | 20725 | 0 | 0 |
| SPDR DOW JONES INDL AVERAGE | UT SER 1 | 78467X109 |  | 373011314 | 1125800 | SH | Put | SOLE | N/A | 1125800 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 72521100 | 427500 | SH | Call | SOLE | N/A | 427500 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 343804570 | 899000 | SH | Put | SOLE | N/A | 899000 | 0 | 0 |
| SPDR SER TR | S RETAIL ETF | 78464A714 |  | 1517295 | 25100 | SH | Put | SOLE | N/A | 25100 | 0 | 0 |
| SPROTT INC | COM NEW | 852066208 |  | 34103838 | 1025258 | SH |  | SOLE | N/A | 1025258 | 0 | 0 |
| STANLEY BLACK  DECKER INC | COM | 854502101 |  | 1241809 | 16531 | SH |  | SOLE | N/A | 16531 | 0 | 0 |
| STANTEC INC | COM | 85472N109 |  | 11834204 | 246977 | SH |  | SOLE | N/A | 246977 | 0 | 0 |
| STEM INC | COM | 85859N102 |  | 246136 | 27532 | SH |  | SOLE | N/A | 27532 | 0 | 0 |
| STERIS PLC | SHS USD | G8473T100 |  | 2559249 | 13857 | SH |  | SOLE | N/A | 13857 | 0 | 0 |
| STRYKER CORPORATION | COM | 863667101 |  | 1045439 | 4276 | SH |  | SOLE | N/A | 4276 | 0 | 0 |
| SUN CMNTYS INC | COM | 866674104 |  | 55531047 | 388329 | SH |  | SOLE | N/A | 388329 | 0 | 0 |
| SUNOPTA INC | COM | 8676EP108 |  | 455752 | 53999 | SH |  | SOLE | N/A | 53999 | 0 | 0 |
| SVB FINANCIAL GROUP | COM | 78486Q101 |  | 1234931 | 5366 | SH |  | SOLE | N/A | 5366 | 0 | 0 |
| TECK RESOURCES LTD | CL B | 878742204 |  | 58345923 | 1543915 | SH |  | SOLE | N/A | 1543915 | 0 | 0 |
| TELEDYNE TECHNOLOGIES INC | COM | 879360105 |  | 20593365 | 51495 | SH |  | SOLE | N/A | 51495 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 4927200 | 40000 | SH | Call | SOLE | N/A | 40000 | 0 | 0 |
| TFI INTL INC | COM | 87241L109 |  | 12901794 | 128821 | SH |  | SOLE | N/A | 128821 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 2028191 | 3683 | SH |  | SOLE | N/A | 3683 | 0 | 0 |
| T-MOBILE US INC | COM | 872590104 |  | 29320620 | 209433 | SH |  | SOLE | N/A | 209433 | 0 | 0 |
| TORONTO DOMINION BK ONT | COM NEW | 891160509 |  | 5939155 | 91728 | SH |  | SOLE | N/A | 91728 | 0 | 0 |
| TRAEGER INC | COMMON STOCK | 89269P103 |  | 294605 | 104470 | SH |  | SOLE | N/A | 104470 | 0 | 0 |
| TRANE TECHNOLOGIES PLC | SHS | G8994E103 |  | 3216066 | 19133 | SH |  | SOLE | N/A | 19133 | 0 | 0 |
| TRANSALTA CORP | COM | 89346D107 |  | 24599095 | 2750447 | SH |  | SOLE | N/A | 2750447 | 0 | 0 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 1764843 | 9413 | SH |  | SOLE | N/A | 9413 | 0 | 0 |
| TREX CO INC | COM | 89531P105 |  | 1189431 | 28099 | SH |  | SOLE | N/A | 28099 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 1681823 | 8122 | SH |  | SOLE | N/A | 8122 | 0 | 0 |
| UNITED STS OIL FD LP | UNITS | 91232N207 |  | 72234333 | 1030300 | SH | Call | SOLE | N/A | 1030300 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 694006 | 1309 | SH |  | SOLE | N/A | 1309 | 0 | 0 |
| VAIL RESORTS INC | COM | 91879Q109 |  | 532951 | 2236 | SH |  | SOLE | N/A | 2236 | 0 | 0 |
| VALARIS LIMITED | CL A | G9460G101 |  | 19620822 | 290163 | SH |  | SOLE | N/A | 290163 | 0 | 0 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 50152134 | 1749900 | SH | Call | SOLE | N/A | 1749900 | 0 | 0 |
| VANECK ETF TRUST | JUNIOR GOLD MINE | 92189F791 |  | 1707956 | 47909 | SH |  | SOLE | N/A | 47909 | 0 | 0 |
| VANECK ETF TRUST | OIL SERVICES ETF | 92189H607 |  | 108333015 | 356300 | SH | Call | SOLE | N/A | 356300 | 0 | 0 |
| VERMILION ENERGY INC | COM | 923725105 |  | 14256559 | 805332 | SH |  | SOLE | N/A | 805332 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 12858474 | 61891 | SH |  | SOLE | N/A | 61891 | 0 | 0 |
| WARRIOR MET COAL INC | COM | 93627C101 |  | 32302943 | 932533 | SH |  | SOLE | N/A | 932533 | 0 | 0 |
| WASTE CONNECTIONS INC | COM | 94106B101 |  | 25561150 | 192838 | SH |  | SOLE | N/A | 192838 | 0 | 0 |
| WATSCO INC | COM | 942622200 |  | 1412103 | 5662 | SH |  | SOLE | N/A | 5662 | 0 | 0 |
| WEC ENERGY GROUP INC | COM | 92939U106 |  | 577187 | 6156 | SH |  | SOLE | N/A | 6156 | 0 | 0 |
| WEST FRASER TIMBER CO LTD | COM | 952845105 |  | 18833450 | 260827 | SH |  | SOLE | N/A | 260827 | 0 | 0 |
| WESTROCK CO | COM | 96145D105 |  | 586363 | 16677 | SH |  | SOLE | N/A | 16677 | 0 | 0 |
| WORKDAY INC | CL A | 98138H101 |  | 1255812 | 7505 | SH |  | SOLE | N/A | 7505 | 0 | 0 |
| XCEL ENERGY INC | COM | 98389B100 |  | 7184733 | 102478 | SH |  | SOLE | N/A | 102478 | 0 | 0 |

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