UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: September 30, 2005
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Check Here if Amendment / /; Amendment Number:
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This Amendment (Check only one.): / / is a restatement.
/ / adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Sun Life Financial Inc.
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Address: 150 King Street West
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Toronto, Ontario, Canada, M5H 1J9
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Form 13F File Number: 28-05799
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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: James M. A. Anderson
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Title: Executive Vice President and Chief Investment Officer
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Phone:
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Signature, Place, and Date of Signing:
/s/ James M. A. Anderson Ontario, Canada 5-12-2005
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[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 reported are 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).)
List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
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Form 13F Information Table Entry Total: 298
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Form 13F Information Table Value Total: $ 2,233,311
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(thousands)
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
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
------------------------- ---------------- --------- --------- ---------------------- ------------ ---------- ----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
------------------------- ---------------- --------- --------- --------- ----- ------ ------------ ---------- ---------- ------ ----
U.S. OPERATIONS - AMOUNTS SHOWN ARE IN U.S. DOLLARS
3COM CORP COM 885535104 10,751 2,635,000 SH SOLE 2,635,000
AGERE SYS INC COM 00845V308 9,459 908,612 SH SOLE 908,612
ALBERTO CULVER CO COM 013068101 9,317 208,200 SH SOLE 208,200
ALEXANDRIA REAL ESTATE
EQ IN COM 015271109 15,558 188,153 SH SOLE 188,153
ALLIED WASTE INDS INC COM 019589308 9,025 1,068,000 SH SOLE 1,068,000
AMERICAN FINL RLTY TR COM 02607P305 13,580 956,326 SH SOLE 956,326
AMR CORP COM 001765106 368 32,953 SH SOLE 32,953
ARCHSTONE SMITH TR COM 039583109 15,937 399,718 SH SOLE 399,718
AVALONBAY CMNTYS INC COM 053484101 8,250 96,261 SH SOLE 96,261
AVAYA INC COM 053499109 10,443 1,013,881 SH SOLE 1,013,881
BIOGEN IDEC INC COM 09062X103 14,293 362,036 SH SOLE 362,036
BIOMET INC COM 090613100 13,665 393,700 SH SOLE 393,700
BOSTON SCIENTIFIC CORP COM 101137107 18,444 789,213 SH SOLE 789,213
BRE PROPERTIES INC CL A 05564E106 14,004 314,689 SH SOLE 314,689
BROCADE COMMUNICATIONS
SYS I COM 111621108 9,284 2,275,453 SH SOLE 2,275,453
C COR INC COM 125010108 5,845 865,864 SH SOLE 865,864
CALPINE CORP COM 131347106 12,365 4,774,171 SH SOLE 4,774,171
CAPITALSOURCE INC COM 14055X102 9,341 428,500 SH SOLE 428,500
CHEVRON CORP NEW COM 166764100 7,726 119,361 SH SOLE 119,361
CIT GROUP INC COM 125581108 9,797 216,850 SH SOLE 216,850
CLEAR CHANNEL
COMMUNICATIONS COM 184502102 13,937 423,742 SH SOLE 423,742
DEVELOPERS DIVERSIFIED
RLTY COM 251591103 14,071 301,303 SH SOLE 301,303
DYNEGY INC NEW CL A 26816Q101 11,713 2,486,761 SH SOLE 2,486,761
EASTGROUP PPTY INC COM 277276101 12,918 295,264 SH SOLE 295,264
EASTMAN KODAK CO COM 277461109 9,802 402,877 SH SOLE 402,877
ECHOSTAR COMMUNICATIONS
NEW CL A 278762109 8,663 292,954 SH SOLE 292,954
EMERSON ELEC CO COM 291011104 9,504 132,370 SH SOLE 132,370
ENGELHARD CORP COM 292845104 9,328 334,200 SH SOLE 334,200
EQUITY RESIDENTIAL SH BEN INT 29476L107 843 22,267 SH SOLE 22,267
EXIDE TECHNOLOGIES COM NEW 302051206 5,717 1,125,344 SH SOLE 1,125,344
EXXON MOBIL CORP COM 30231G102 17,096 269,055 SH SOLE 269,055
FAMILY DLR STORES INC COM 307000109 0 0 SH SOLE -
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 351 5,754 SH SOLE 5,754
FEDEX CORP COM 31428X106 8,513 97,700 SH SOLE 97,700
GOLDMAN SACHS GROUP INC COM 38141G104 12,510 102,892 SH SOLE 102,892
GRAMERCY CAP CORP COM 384871109 6,048 252,429 SH SOLE 252,429
HILTON HOTELS CORP COM 432848109 8,777 393,221 SH SOLE 393,221
HONEYWELL INTL INC COM 438516106 8,914 237,700 SH SOLE 237,700
HOST MARRIOTT CORP NEW COM 44107P104 7,691 455,106 SH SOLE 455,106
IMCLONE SYS INC COM 45245W109 9,798 311,541 SH SOLE 311,541
ISHARES INC MSCI AUSTRALIA 464286103 1,441 73,498 SH SOLE 73,498
ISHARES INC MSCI BELGIUM 464286301 248 12,969 SH SOLE 12,969
ISHARES INC MSCI SINGAPORE 464286673 269 33,739 SH SOLE 33,739
ISHARES INC MSCI UTD KINGD 464286699 6,437 339,492 SH SOLE 339,492
ISHARES INC MSCI FRANCE 464286707 2,225 85,725 SH SOLE 85,725
ISHARES INC MSCI SWITZERLD 464286749 1,659 91,331 SH SOLE 91,331
ISHARES INC MSCI SWEDEN 464286756 1,132 50,258 SH SOLE 50,258
ISHARES INC MSCI SPAIN 464286764 1,191 31,549 SH SOLE 31,549
ISHARES INC MSCI GERMAN 464286806 1,593 81,933 SH SOLE 81,933
ISHARES INC MSCI NETHERLND 464286814 1,161 59,958 SH SOLE 59,958
ISHARES INC MSCI JAPAN 464286848 5,700 467,581 SH SOLE 467,581
ISHARES INC MSCI ITALY 464286855 977 37,121 SH SOLE 37,121
ISHARES INC MSCI HONG KONG 464286871 914 67,290 SH SOLE 67,290
ISTAR FINL INC COM 45031U101 11,873 293,674 SH SOLE 293,674
JDS UNIPHASE CORP COM 46612J101 12,680 5,711,500 SH SOLE 5,711,500
KIMCO REALTY CORP COM 49446R109 13,324 424,076 SH SOLE 424,076
KNIGHT CAPITAL GROUP INC CL A 499005106 7,494 901,863 SH SOLE 901,863
LEAPFROG ENTERPRISES INC CL A 52186N106 4,580 310,115 SH SOLE 310,115
LEHMAN BROS HLDGS INC COM 524908100 12,091 103,800 SH SOLE 103,800
LUCENT TECHNOLOGIES INC COM 549463107 17,785 5,472,357 SH SOLE 5,472,357
MACERICH CO COM 554382101 16,228 249,898 SH SOLE 249,898
MEDIMMUNE INC COM 584699102 12,791 380,120 SH SOLE 380,120
MERISTAR HOSPITALITY CORP COM 58984Y103 9,909 1,085,337 SH SOLE 1,085,337
MERRILL LYNCH & CO INC COM 590188108 11,603 189,132 SH SOLE 189,132
MILLENNIUM
PHARMACEUTICALS I COM 599902103 10,887 1,166,919 SH SOLE 1,166,919
MRV COMMUNICATIONS INC COM 553477100 5,665 2,659,731 SH SOLE 2,659,731
NEW YORK CMNTY BANCORP
INC COM 649445103 21,527 1,312,617 SH SOLE 1,312,617
PENNSYLVANIA RL ESTATE
INVT SH BEN INT 709102107 9,430 223,559 SH SOLE 223,559
PMC-SIERRA INC COM 69344F106 5,815 660,000 SH SOLE 660,000
PROLOGIS SH BEN INT 743410102 13,869 313,001 SH SOLE 313,001
PUBLIC STORAGE INC COM 74460D109 797 11,892 SH SOLE 11,892
RAYTHEON CO COM NEW 755111507 8,555 225,000 SH SOLE 225,000
RECKSON ASSOCS RLTY CORP COM 75621K106 11,135 322,297 SH SOLE 322,297
REGENCY CTRS CORP COM 758849103 11,478 199,787 SH SOLE 199,787
RELIANT ENERGY INC COM 75952B105 12,016 778,225 SH SOLE 778,225
RENT A CTR INC NEW COM 76009N100 8,594 445,065 SH SOLE 445,065
REVLON INC CL A 761525500 11,918 3,701,110 SH SOLE 3,701,110
SARA LEE CORP COM 803111103 11,296 596,069 SH SOLE 596,069
SHURGARD STORAGE CTRS INC COM 82567D104 19,569 350,255 SH SOLE 350,255
SIMON PPTY GROUP INC NEW COM 828806109 14,988 202,207 SH SOLE 202,207
SL GREEN RLTY CORP COM 78440X101 13,766 201,909 SH SOLE 201,909
TELLABS INC COM 879664100 13,184 1,253,195 SH SOLE 1,253,195
VICOR CORP COM 925815102 8,169 539,200 SH SOLE 539,200
VORNADO RLTY TR SH BEN INT 929042109 14,848 171,418 SH SOLE 171,418
CANADIAN OPERATIONS - AMOUNTS SHOWN ARE IN U.S. DOLL ARS
ABB Ltd COM 000375204 1,899 258,000 SH SOLE 258,000
Agco Corp COM 001084102 1,654 90,900 SH SOLE 90,900
Abbot Laboratories COM 002824100 38 900 SH SOLE 900
Aber Diamond Corporation COM 002893105 718 19,600 SH SOLE 19,600
Abitibi-Consolidated Inc COM 003924107 546 135,700 SH SOLE 135,700
Ace Cash Express Inc COM 004403101 88 4,500 SH SOLE 4,500
Agrium Inc COM 008916108 377 17,100 SH SOLE 17,100
Ajinomoto COM 009707100 945 9,000 SH SOLE 9,000
Electrolux AB COM 010198208 2,566 54,300 SH SOLE 54,300
Alcan Inc COM 013716105 26,546 835,625 SH SOLE 835,625
Alcoa Inc COM 013817101 2,615 107,100 SH SOLE 107,100
Alliance Atlantis Comm
Inc COM 01853E204 299 10,800 SH SOLE 10,800
Altria Group COM 02209S103 2,749 37,300 SH SOLE 37,300
American Express Co COM 025816109 287 5,000 SH SOLE 5,000
American International
Group COM 026874107 3,625 58,500 SH SOLE 58,500
American Standard
Companies COM 029712106 35 750 SH SOLE 750
Amvescap PLC COM 03235E100 1,699 130,400 SH SOLE 130,400
Anglo American PLC COM 03485P102 115 3,800 SH SOLE 3,800
Angiotech Pharmaceuticals
Inc COM 034918102 210 15,000 SH SOLE 15,000
Angiotech Pharmaceuticals
Inc COM 034918102 126 9,000 SH SOLE 9,000
Apache Corporation COM 037411105 293 3,890 SH SOLE 3,890
Asahi Glass Co Ltd COM 043393206 1,633 15,600 SH SOLE 15,600
Astrazeneca PLC COM 046353108 104 2,200 SH SOLE 2,200
Avery Dennison Corp COM 053611109 1,530 29,200 SH SOLE 29,200
BCE Inc COM 05534B109 48,906 1,781,192 SH SOLE 1,781,192
BG Group COM 055434203 238 5,000 SH SOLE 5,000
BP PLC COM 055622104 3,762 53,100 SH SOLE 53,100
Bank of America Corp COM 060505104 105 2,500 SH SOLE 2,500
Bank of Montreal COM 063671101 19,117 383,656 SH SOLE 383,656
Bank of Nova Scotia COM 064149107 36,347 971,262 SH SOLE 971,262
Barclays PLC COM 06738E204 1,913 46,900 SH SOLE 46,900
Barrick Gold Corp COM 067901108 13,779 474,300 SH SOLE 474,300
Beckman Coulter Inc COM 075811109 939 17,400 SH SOLE 17,400
Bema Gold Corp COM 08135F107 143 53,300 SH SOLE 53,300
Boston Scientific COM 101137107 2,113 90,400 SH SOLE 90,400
Bowater Inc COM 102183100 139 4,900 SH SOLE 4,900
Brascan Corporation COM 10549P606 166 3,550 SH SOLE 3,550
Burlington North Santa Fe COM 12189T104 2,117 35,400 SH SOLE 35,400
CAE Inc COM 124765108 8,737 1,296,000 SH SOLE 1,296,000
CHC Helicopter Corp COM 12541C203 134 6,200 SH SOLE 6,200
CIT Group Inc COM 125581108 72 1,600 SH SOLE 1,600
CVS Corp COM 126650100 70 2,400 SH SOLE 2,400
Cameco Corp COM 13321L108 396 7,400 SH SOLE 7,400
Cdn Imp Bank of Commerce COM 136069101 31,174 498,090 SH SOLE 498,090
Cdn National Railways COM 136375102 28,876 406,010 SH SOLE 406,010
Canadian Nat Resources
Ltd COM 136385101 878 19,400 SH SOLE 19,400
Canadian Pacific Railway COM 13645T100 18,520 429,320 SH SOLE 429,320
Canon Inc COM 138006309 2,670 49,200 SH SOLE 49,200
Capital One Fin Corp COM 14040H105 32 400 SH SOLE 400
Caterpillar Inc COM 149123101 147 2,500 SH SOLE 2,500
Cendant Corp COM 151313103 62 3,000 SH SOLE 3,000
Chevron Corp COM 166764100 65 1,000 SH SOLE 1,000
Citigroup Inc COM 172967101 6,482 142,400 SH SOLE 142,400
Clear Channel Comm COM 184502102 197 6,000 SH SOLE 6,000
Colgate Palmolive COM 194162103 2,735 51,800 SH SOLE 51,800
Cia De Minas Buenaventur COM 204448104 239 7,700 SH SOLE 7,700
ConocoPhillips Inc COM 20825C104 168 2,400 SH SOLE 2,400
Corus Entertainment COM 220874101 174 6,000 SH SOLE 6,000
CP Ships Ltd COM 22409V102 5,499 258,900 SH SOLE 258,900
Curtiss-Wright Corp COM 231561101 123 2,000 SH SOLE 2,000
Datamirror Corporation COM 237926100 87 11,250 SH SOLE 11,250
John Deere & Co. COM 244199105 122 2,000 SH SOLE 2,000
Dell Inc COM 24702R101 205 6,000 SH SOLE 6,000
Diageo PLC COM 25243Q205 5,087 87,700 SH SOLE 87,700
Dollar General Corp COM 256669102 33 1,800 SH SOLE 1,800
Domtar Inc. COM 257561100 11,010 1,709,700 SH SOLE 1,709,700
Draxis Health Inc COM 26150J101 163 35,100 SH SOLE 35,100
Duke Energy Corporation COM 264399106 4,028 138,100 SH SOLE 138,100
Embraer Empresa
Brasileira COM 29081M102 116 3,000 SH SOLE 3,000
EnCana Corporation COM 292505104 62,419 1,067,144 SH SOLE 1,067,144
Enbridge Inc COM 29250N105 8,705 271,010 SH SOLE 271,010
Ericsson (LM) Tel-SP ADR COM 294821608 258 7,000 SH SOLE 7,000
Extendicare Inc COM 30224T871 786 44,700 SH SOLE 44,700
Exxon Mobil Corp COM 30231G102 318 5,000 SH SOLE 5,000
Fairmont Hotels COM 305204109 214 6,400 SH SOLE 6,400
Falconbridge Ltd COM 306104100 549 20,500 SH SOLE 20,500
Federal National Mtge
Assoc COM 313586109 986 22,000 SH SOLE 22,000
First Data Corp COM 319963104 437 10,924 SH SOLE 10,924
Fiserv Inc COM 337738108 37 800 SH SOLE 800
Fluor Corporation COM 343412102 1,964 30,500 SH SOLE 30,500
France Telecom SA-Spons
ADR COM 35177Q105 3,536 123,000 SH SOLE 123,000
Franklin Resources Inc COM 354613101 151 1,800 SH SOLE 1,800
Freescale Semiconductor
- B COM 35687M206 130 5,500 SH SOLE 5,500
General Elec Co COM 369604103 1,407 41,800 SH SOLE 41,800
Gildan Activewear Inc COM 375916103 386 10,100 SH SOLE 10,100
Glamis Gold COM 376775102 226 10,300 SH SOLE 10,300
Glaxosmithkline Plc COM 37733W105 3,667 71,500 SH SOLE 71,500
Gold Fields Ltd COM 38059T106 1,874 129,000 SH SOLE 129,000
Goldcorp Inc COM 380956409 918 45,700 SH SOLE 45,700
Group CGI COM 39945C109 16,933 2,310,800 SH SOLE 2,310,800
HSBC Holdings Plc COM 404280406 1,868 23,000 SH SOLE 23,000
Halliburton Co COM 406216101 199 2,900 SH SOLE 2,900
HBOS PLC COM 42205M106 3,255 71,700 SH SOLE 71,700
Hewlett Packard Co COM 428236103 2,003 68,600 SH SOLE 68,600
Home Depot Inc COM 437076102 229 6,000 SH SOLE 6,000
Honeywell International
Inc COM 438516106 2,666 71,100 SH SOLE 71,100
Hoya Corporation COM 443251103 132 1,000 SH SOLE 1,000
Hydrogenics Corporation COM 448882100 93 23,700 SH SOLE 23,700
Imperial Oil Ltd COM 453038408 19,108 165,400 SH SOLE 165,400
Inco Ltd COM 453258402 308 6,500 SH SOLE 6,500
Intel Corp COM 458140100 478 19,400 SH SOLE 19,400
I B M Corp COM 459200101 36 450 SH SOLE 450
Intuit Inc COM 461202103 121 2,700 SH SOLE 2,700
Ishares COM 464286608 731 9,500 SH SOLE 9,500
Ishares COM 464286665 1,227 11,900 SH SOLE 11,900
Ishares COM 464286699 2,048 108,000 SH SOLE 108,000
Ishares COM 464286707 2,757 106,200 SH SOLE 106,200
Ishares COM 464286806 573 29,500 SH SOLE 29,500
Ishares COM 464286822 1,389 42,400 SH SOLE 42,400
Ishares COM 464286848 8,399 689,000 SH SOLE 689,000
Ishares Tr COM 464287465 212,217 3,652,623 SH SOLE 3,652,623
Johnson & Johnson COM 478160104 2,859 45,174 SH SOLE 45,174
Johnson Matthey PLC COM 479142309 2,630 62,400 SH SOLE 62,400
Jones Apparel Group COM 480074103 41 1,450 SH SOLE 1,450
Kimberly Clark COM 494368103 34 575 SH SOLE 575
Kinder Morgan Inc COM 49455P101 962 10,000 SH SOLE 10,000
Kohls Corporation COM 500255104 141 2,800 SH SOLE 2,800
Estee Lauder COM 518439104 219 6,300 SH SOLE 6,300
Lenovo Group Ltd COM 526250105 148 15,000 SH SOLE 15,000
LEXMARK INTERNATIONAL INC COM 529771107 31 500 SH SOLE 500
Lilly (Eli) and Co COM 532457108 995 18,600 SH SOLE 18,600
Lincoln National Corp COM 534187109 45 870 SH SOLE 870
Lowe's Cos Inc COM 548661107 45 700 SH SOLE 700
Mbna corp COM 55262L100 - - SH SOLE -
MDS Inc COM 55269P302 23,243 1,291,300 SH SOLE 1,291,300
Magna International Inc COM 559222401 24,448 324,404 SH SOLE 324,404
Manulife Financial Corp COM 56501R106 226 4,242 SH SOLE 4,242
Manulife Financial Corp COM 56501R106 37,815 707,500 SH SOLE 707,500
Masco Corp COM 574599106 34 1,100 SH SOLE 1,100
Methanex Corp COM 59151K108 215 14,500 SH SOLE 14,500
Microsoft Corp COM 594918104 3,988 154,982 SH SOLE 154,982
Monro Muffler Brake Inc COM 610236101 158 6,000 SH SOLE 6,000
Morgan Stanley Co COM 617446448 2,643 49,000 SH SOLE 49,000
Motorola Inc COM 620076109 1,248 56,500 SH SOLE 56,500
Nasdaq 100 COM 631100104 12,175 309,000 SH SOLE 309,000
Navistar International
Corp COM 63934E108 126 3,900 SH SOLE 3,900
Neurochem Inc COM 64125K101 211 16,700 SH SOLE 16,700
Nippon Tel & Tel Co COM 654624105 5,634 227,000 SH SOLE 227,000
Nokia Corp COM 654902204 169 10,000 SH SOLE 10,000
Nomura Holdings Inc COM 65535H208 4,056 261,000 SH SOLE 261,000
Nortel Networks Corp COM 656568102 9,157 2,788,100 SH SOLE 2,788,100
North Am Palladium COM 656912102 93 17,900 SH SOLE 17,900
North Fork Bancorporation COM 659424105 54 2,100 SH SOLE 2,100
Northgate Minerals Corp COM 666416102 111 82,100 SH SOLE 82,100
Nova Chemicals Corp COM 66977W109 11,970 324,800 SH SOLE 324,800
Novartis AG COM 66987V109 1,122 22,000 SH SOLE 22,000
Novelis Inc COM 67000X106 10,231 477,205 SH SOLE 477,205
Oracle Systems Corp COM 68389X105 114 9,156 SH SOLE 9,156
PPG Industries COM 693506107 178 3,000 SH SOLE 3,000
Pepsico Inc COM 713448108 261 4,600 SH SOLE 4,600
Petro Canada Limited COM 71644E102 1,028 24,500 SH SOLE 24,500
Petsmart Inc COM 716768106 96 4,400 SH SOLE 4,400
Pfizer Inc COM 717081103 6,368 255,012 SH SOLE 255,012
Placer Dome Inc COM 725906101 29,341 1,711,200 SH SOLE 1,711,200
Potash Corp of Sask Inc COM 73755L107 392 4,200 SH SOLE 4,200
Precision Drilling Corp COM 74022D100 409 8,300 SH SOLE 8,300
Procter & Gamble Co COM 742718109 238 4,000 SH SOLE 4,000
Prudential Financial Inc COM 744320102 2,594 38,400 SH SOLE 38,400
Quebecor World Inc COM 748203106 8,205 436,600 SH SOLE 436,600
Reed Elsevier NV COM 758204101 1,825 66,000 SH SOLE 66,000
Research In Motion COM 760975102 1,135 16,600 SH SOLE 16,600
Rexam plc COM 761655406 2,667 59,000 SH SOLE 59,000
Rogers Communication
Class B COM 775109200 525 13,300 SH SOLE 13,300
Royal Bank of Canada COM 780087102 48,259 661,008 SH SOLE 661,008
Russell Corp COM 782352108 140 10,000 SH SOLE 10,000
SBC Communications COM 78387G103 4,998 208,500 SH SOLE 208,500
SPDR Trust COM 78462F103 390,707 3,175,443 SH SOLE 3,175,443
SAP Aktiengesellschaft COM 803054204 87 2,000 SH SOLE 2,000
Schlumberger Ltd COM 806857108 287 3,400 SH SOLE 3,400
Siemens AG COM 826197501 3,480 45,000 SH SOLE 45,000
Sierra Wireless Inc COM 826516106 196 17,200 SH SOLE 17,200
Smurfit Stone Container COM 832727101 41 4,000 SH SOLE 4,000
Statoil ASA COM 85771P102 1,355 54,900 SH SOLE 54,900
Sun Life Financial Inc COM 866796105 1,008 26,800 SH SOLE 26,800
Suncor Energy Inc COM 867229106 1,905 31,378 SH SOLE 31,378
TLC Vision Corp COM 872549100 69 10,200 SH SOLE 10,200
Talisman Energy Inc COM 87425E103 2,486 50,700 SH SOLE 50,700
Telus Corp COM 87971M202 929 22,761 SH SOLE 22,761
Tesco Corp COM 88157K101 231 14,700 SH SOLE 14,700
Thomson Corp COM 884903105 377 10,067 SH SOLE 10,067
3M Company COM 88579Y101 3,521 48,000 SH SOLE 48,000
Time Warner Inc COM 887317105 272 15,000 SH SOLE 15,000
Tomkins PLC COM 890030208 3,416 166,000 SH SOLE 166,000
Toronto Dominion Bank COM 891160509 15,200 307,608 SH SOLE 307,608
Total SA COM 89151E109 244 1,800 SH SOLE 1,800
Toyota Motor Corporation COM 892331307 4,822 52,200 SH SOLE 52,200
TransAlta Corp COM 89346D107 13,286 669,200 SH SOLE 669,200
TransCanada Corp COM 89353D107 37,377 1,221,342 SH SOLE 1,221,342
TransGlobe Energy
Corporation COM 893662106 44 7,000 SH SOLE 7,000
Tribune Co COM 896047107 27 800 SH SOLE 800
Tyco Intl Ltd COM 902124106 4,367 156,800
United Technologies Corp COM 913017109 1,970 38,000
UPM Kymmene Corporation COM 915436109 2,567 127,600
Valero Energy Corp COM 91913Y100 1,413 12,500
Vasogen Inc COM 92232F103 50 23,800
Verizon Comm COM 92343V104 3,462 105,900
Viacom Inc COM 925524308 4,265 129,200
Vodafone Group Plc COM 92857W100 303 11,650
Volvo AB COM 928856400 1,879 43,000
WPP Group PLC COM 929309300 1,917 37,500
Wal Mart Stores Inc COM 931142103 3,725 85,000
Walmart De Mexico COM 93114W107 132 2,600
Wellpoint Inc COM 94973V107 49 650
Wendys International Inc COM 950590109 27 600
Westwood One COM 961815107 25 1,250
Wyeth COM 983024100 2,730 59,000
Yahoo Inc COM 984332106 132 3,900
Deutsche Bank AG COM D18190898 1,365 14,600
Amdocs Ltd COM G02602103 111 4,000
Noble Corp COM G65422100 68 1,000
Transocean Inc COM G90078109 276 4,500
UBS AG COM H8920M855 1,992 23,300
Check Point Software Tech
Ltd COM M22465104 1,950 80,200
ASML Holding NV COM N07059111 149 9,000
2,233,311