<SEC-DOCUMENT>0001104659-25-001583.txt : 20250107
<SEC-HEADER>0001104659-25-001583.hdr.sgml : 20250107
<ACCEPTANCE-DATETIME>20250107091625
ACCESSION NUMBER:		0001104659-25-001583
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250107

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TUCOWS INC /PA/
		CENTRAL INDEX KEY:			0000909494
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
		ORGANIZATION NAME:           	06 Technology
		IRS NUMBER:				232707366
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-49487
		FILM NUMBER:		25513598

	BUSINESS ADDRESS:	
		STREET 1:		96 MOWAT AVENUE
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M6K 3M1
		BUSINESS PHONE:		4165385478

	MAIL ADDRESS:	
		STREET 1:		96 MOWAT AVENUE
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M6K 3M1

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INFONAUTICS INC
		DATE OF NAME CHANGE:	19960426

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INFONAUTICS CORP
		DATE OF NAME CHANGE:	19960315

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INVESTMENTAKTIENGESELLSCHAFT FUER LANGFRISTIGE INVESTOREN TGV
		CENTRAL INDEX KEY:			0001569606
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			2M
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		RUENGSDORFER STRASSE 2 E
		CITY:			BONN
		STATE:			2M
		ZIP:			53177
		BUSINESS PHONE:		01149-228-368840

	MAIL ADDRESS:	
		STREET 1:		RUENGSDORFER STRASSE 2 E
		CITY:			BONN
		STATE:			2M
		ZIP:			53177
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <previousAccessionNumber>0001569606-18-000005</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: INVESTMENTAKTIENGESELLSCHAFT FUER LANGFRISTIGE INVESTOREN TGV -->
          <cik>0001569606</cik>
          <ccc>XXXXXXXX</ccc>
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      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>8</amendmentNo>
      <securitiesClassTitle>Common Stock, no par value</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>12/31/2024</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0000909494</issuerCik>
        <issuerName>Tucows Inc.</issuerName>
        <issuerCusip>898697206</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>96 Mowat Avenue</com:street1>
          <com:city>Toronto</com:city>
          <com:stateOrCountry>A6</com:stateOrCountry>
          <com:zipCode>M6K 3M1</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Investmentaktiengesellschaft fur langfristige Investoren TGV</reportingPersonName>
      <citizenshipOrOrganization>2M</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>0.0</classPercent>
      <typeOfReportingPerson>FI</typeOfReportingPerson>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Ewald Stephan</reportingPersonName>
      <citizenshipOrOrganization>2M</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>0.0</classPercent>
      <typeOfReportingPerson>HC</typeOfReportingPerson>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Tucows Inc.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>96 Mowat Avenue Toronto, Ontario, Canada, M6K 3M1</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>This statement (this "Statement") is being filed by: (1) Investmentaktiengesellschaft fur langfristige Investoren TGV (the "Umbrella Company"); and (2) Ewald Stephan (collectively, the "Reporting Persons").  The Umbrella Company is organized in Germany as an umbrella investment company with sub-funds.  The Umbrella Company is registered with Bundesanstalt fur Finanzdienstleistungsaufsicht (governmental authority) under the Kapitalanlagegesetzbuch (KAGB) (regulatory scheme).  Ewald Stephan has discretionary investment authority over the assets of the Umbrella Company.  Norman Rentrop holds 100% of the voting rights of the Umbrella Company.  Until December 27, 2024, the following five sub-funds of the Umbrella Company directly owned the Common Stock reported in this Schedule 13G: (i) Teilgesellschaftsvermoegen Langfrist 1 ("Sub-fund 1"); (ii) Teilgesellschaftsvermoegen Truffle ("Sub-fund 2"); (iii) Teilgesellschaftsvermoegen Partners Fund ("Sub-fund 3"); (iv) Teilgesellschaftsvermoegen Compound Interest ("Sub-fund 4"); and (v) Teilgesellschaftsvermoegen Rubicon Stockpicker Fund ("Sub-fund 5").  On December 27, 2024, the shares of Common Stock held by Sub-fund 2, Sub-fund 3, Sub-fund 4 and Sub-fund 5 were transferred to entities managed by an unaffiliated capital management company.  On December 30, 2024, Sub-fund 1 distributed its shares of Common Stock to Mr. Rentrop in connection with the closing of Sub-fund 1 on such date.  Mr. Rentrop was previously a Reporting Person hereunder, but is no longer a Reporting Person hereunder, having determined, as of December 30, 2024, to begin filing separately on his own Schedule 13G.</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>The principal business office of the Reporting Persons is Rungsdorfer Strasse 2e,
53173 Bonn, Germany.</principalBusinessOfficeOrResidenceAddress>
        <citizenship>For citizenship information see Item 4 of the cover page of each Reporting Person.</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>HC</typeOfPersonFiling>
        <typeOfPersonFiling>FI</typeOfPersonFiling>
        <otherTypeOfPersonFiling>For the Umbrella Company, an umbrella investment company with sub-funds registered with Bundesanstalt fur Finanzdienstleistungsaufsicht (governmental authority) under the Kapitalanlagegesetzbuch (KAGB) (regulatory scheme).</otherTypeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>See Item 9 on the cover page for each Reporting Person, which information is given as of the closing of Sub-fund 1 on December 30, 2024 and remains accurate as of the close of business on the Event Date of December 31, 2024.</amountBeneficiallyOwned>
        <classPercent>See Item 11 on the cover page for each Reporting Person, which information is given as of the closing of Sub-fund 1 on December 30, 2024 and remains accurate as of the close of business on the Event Date of December 31, 2024.</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>See Item 5 on the cover page for each Reporting Person, which information is given as of the closing of Sub-fund 1 on December 30, 2024 and remains accurate as of the close of business on the Event Date of December 31, 2024.</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>See Item 6 on the cover page for each Reporting Person, which information is given as of the closing of Sub-fund 1 on December 30, 2024 and remains accurate as of the close of business on the Event Date of December 31, 2024.</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>See Item 7 on the cover page for each Reporting Person, which information is given as of the closing of Sub-fund 1 on December 30, 2024 and remains accurate as of the close of business on the Event Date of December 31, 2024.</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>See Item 8 on the cover page for each Reporting Person, which information is given as of the closing of Sub-fund 1 on December 30, 2024 and remains accurate as of the close of business on the Event Date of December 31, 2024.</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>N</notApplicableFlag>
        <classOwnership5PercentOrLess>Y</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>N</notApplicableFlag>
        <subsidiaryIdentificationAndClassification>See Exhibit 2.</subsidiaryIdentificationAndClassification>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to investment companies (being Kapitalanlagegesetzbuch (KAGB)) is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.</certifications>
      </item10>
    </items>
    <exhibitInfo>Exhibit No. 1:  Joint Filing Agreement (revised)
Exhibit No. 2:  Identity and Item 3 Classification of Subsidiaries (per Item 7 of Schedule 13G) (previously filed)</exhibitInfo>
    <signatureInformation>
      <reportingPersonName>Investmentaktiengesellschaft fur langfristige Investoren TGV</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Ewald Stephan</signature>
        <title>Ewald Stephan/CEO</title>
        <date>01/07/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Ewald Stephan</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Ewald Stephan</signature>
        <title>Ewald Stephan</title>
        <date>01/07/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2432356d1_ex1.htm
<DESCRIPTION>EXHIBIT 1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>JOINT FILING AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In accordance with Rule&nbsp;13d-1(k)&nbsp;under the Securities Exchange
Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a statement on Schedule 13G (including
amendments thereto) with respect to the Common Stock, no par value, of Tucows Inc., and further agree that this Joint Filing Agreement
be included as an Exhibit&nbsp;to such joint filing. In evidence thereof, the undersigned hereby execute this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated: January&nbsp;7, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Investmentaktiengesellschaft f&uuml;r langfristige Investoren TGV</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 47%"><FONT STYLE="font-size: 10pt">/s/ Ewald Stephan</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: Ewald Stephan</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: CEO</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/ Ewald Stephan</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Ewald Stephan</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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