UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 31, 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: 267
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Form 13F Information Table Value Total: $ 2,010,915
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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 9,486 2,635,000 SH SOLE 2,635,000
AGERE SYS INC COM 00845V308 9,593 743,612 SH SOLE 743,612
ALBERTO CULVER CO COM 013068101 9,525 208,200 SH SOLE 208,200
ALEXANDRIA REAL ESTATE
EQ IN COM 015271109 16,291 202,376 SH SOLE 202,376
ALLIED WASTE INDS INC COM 019589308 9,334 1,068,000 SH SOLE 1,068,000
AMR CORP COM 001765106 733 32,953 SH SOLE 32,953
ARCHSTONE SMITH TR COM 039583109 17,336 413,847 SH SOLE 413,847
AVALONBAY CMNTYS INC COM 053484101 9,236 103,483 SH SOLE 103,483
AVAYA INC COM 053499109 10,818 1,013,881 SH SOLE 1,013,881
BIOGEN IDEC INC COM 09062X103 16,393 362,036 SH SOLE 362,036
BIOMET INC COM 090613100 14,398 393,700 SH SOLE 393,700
BOSTON SCIENTIFIC CORP COM 101137107 19,328 789,213 SH SOLE 789,213
BRE PROPERTIES INC CL A 05564E106 15,394 338,481 SH SOLE 338,481
BROCADE COMMUNICATIONS
SYS I COM 111621108 9,261 2,275,453 SH SOLE 2,275,453
C COR INC COM 125010108 4,208 865,864 SH SOLE 865,864
CAPITALSOURCE INC COM 14055X102 19,399 866,037 SH SOLE 866,037
CCE SPINCO INC COM 14985W109 694 52,967 SH SOLE 52,967
CHEVRON CORP NEW COM 166764100 5,669 99,861 SH SOLE 99,861
CIT GROUP INC COM 125581108 11,228 216,850 SH SOLE 216,850
CITIZENS COMMUNICATIONS
CO COM 17453B101 6,360 520,000 SH SOLE 520,000
CLEAR CHANNEL
COMMUNICATIONS COM 184502102 13,327 423,742 SH SOLE 423,742
DEVELOPERS DIVERSIFIED
RLTY COM 251591103 15,242 324,161 SH SOLE 324,161
DYNEGY INC NEW CL A 26816Q101 12,036 2,486,761 SH SOLE 2,486,761
EASTGROUP PPTY INC COM 277276101 14,344 317,630 SH SOLE 317,630
EASTMAN KODAK CO COM 277461109 19,136 817,777 SH SOLE 817,777
ECHOSTAR COMMUNICATIONS
NEW CL A 278762109 4,440 163,354 SH SOLE 163,354
EMERSON ELEC CO COM 291011104 9,888 132,370 SH SOLE 132,370
ENGELHARD CORP COM 292845104 10,076 334,200 SH SOLE 334,200
EQUITY RESIDENTIAL SH BEN INT 29476L107 913 23,343 SH SOLE 23,343
EXIDE TECHNOLOGIES COM NEW 302051206 4,164 1,125,344 SH SOLE 1,125,344
EXXON MOBIL CORP COM 30231G102 14,681 261,360 SH SOLE 261,360
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 366 6,032 SH SOLE 6,032
FEDEX CORP COM 31428X106 10,101 97,700 SH SOLE 97,700
GENERAL ELECTRIC CO COM 369604103 4,735 135,100 SH SOLE 135,100
GOLDMAN SACHS GROUP INC COM 38141G104 12,069 94,505 SH SOLE 94,505
HILTON HOTELS CORP COM 432848109 9,923 411,562 SH SOLE 411,562
HONEYWELL INTL INC COM 438516106 8,854 237,700 SH SOLE 237,700
HOST MARRIOTT CORP NEW COM 44107P104 9,294 490,436 SH SOLE 490,436
IMCLONE SYS INC COM 45245W109 5,033 147,000 SH SOLE 147,000
ISHARES INC MSCI AUSTRALIA 464286103 1,382 73,498 SH SOLE 73,498
ISHARES INC MSCI BELGIUM 464286301 249 12,969 SH SOLE 12,969
ISHARES INC MSCI SINGAPORE 464286673 267 33,739 SH SOLE 33,739
ISHARES INC MSCI UTD KINGD 464286699 6,308 339,492 SH SOLE 339,492
ISHARES INC MSCI FRANCE 464286707 2,227 85,725 SH SOLE 85,725
ISHARES INC MSCI SWITZERLD 464286749 1,764 91,331 SH SOLE 91,331
ISHARES INC MSCI SWEDEN 464286756 1,141 50,258 SH SOLE 50,258
ISHARES INC MSCI SPAIN 464286764 1,141 31,549 SH SOLE 31,549
ISHARES INC MSCI GERMAN 464286806 1,664 81,933 SH SOLE 81,933
ISHARES INC MSCI NETHERLND 464286814 1,218 59,958 SH SOLE 59,958
ISHARES INC MSCI JAPAN 464286848 6,322 467,581 SH SOLE 467,581
ISHARES INC MSCI ITALY 464286855 949 37,121 SH SOLE 37,121
ISHARES INC MSCI HONG KONG 464286871 849 67,290 SH SOLE 67,290
ISTAR FINL INC COM 45031U101 11,237 315,216 SH SOLE 315,216
JDS UNIPHASE CORP COM 46612J101 13,479 5,711,500 SH SOLE 5,711,500
KIMCO REALTY CORP COM 49446R109 14,627 455,959 SH SOLE 455,959
KNIGHT CAPITAL GROUP INC CL A 499005106 8,919 901,863 SH SOLE 901,863
LEAPFROG ENTERPRISES INC CL A 52186N106 3,613 310,115 SH SOLE 310,115
LEHMAN BROS HLDGS INC COM 524908100 13,304 103,800 SH SOLE 103,800
LUCENT TECHNOLOGIES INC COM 549463107 14,556 5,472,357 SH SOLE 5,472,357
MACERICH CO COM 554382101 18,039 268,673 SH SOLE 268,673
MEDICAL PPTYS TRUST INC COM 58463J304 978 100,000 SH SOLE 100,000
MEDIMMUNE INC COM 584699102 13,312 380,120 SH SOLE 380,120
MERISTAR HOSPITALITY CORP COM 58984Y103 10,995 1,169,628 SH SOLE 1,169,628
MERRILL LYNCH & CO INC COM 590188108 12,810 189,132 SH SOLE 189,132
MILLENNIUM
PHARMACEUTICALS I COM 599902103 11,319 1,166,919 SH SOLE 1,166,919
MRV COMMUNICATIONS INC COM 553477100 6,004 2,928,936 SH SOLE 2,928,936
NEW YORK CMNTY BANCORP
INC COM 649445103 22,574 1,366,460 SH SOLE 1,366,460
PENNSYLVANIA RL ESTATE
INVT SH BEN INT 709102107 8,979 240,345 SH SOLE 240,345
PMC-SIERRA INC COM 69344F106 5,089 660,000 SH SOLE 660,000
PROLOGIS SH BEN INT 743410102 15,724 336,565 SH SOLE 336,565
PUBLIC STORAGE INC COM 74460D109 844 12,466 SH SOLE 12,466
RAYTHEON CO COM NEW 755111507 9,034 225,000 SH SOLE 225,000
RECKSON ASSOCS RLTY CORP COM 75621K106 12,474 346,701 SH SOLE 346,701
REGENCY CTRS CORP COM 758849103 12,667 214,870 SH SOLE 214,870
RELIANT ENERGY INC COM 75952B105 8,031 778,225 SH SOLE 778,225
RENT A CTR INC NEW COM 76009N100 10,337 548,065 SH SOLE 548,065
REVLON INC CL A 761525500 11,473 3,701,110 SH SOLE 3,701,110
SARA LEE CORP COM 803111103 11,266 596,069 SH SOLE 596,069
SHURGARD STORAGE CTRS INC COM 82567D104 16,662 293,814 SH SOLE 293,814
SIMON PPTY GROUP INC NEW COM 828806109 16,654 217,330 SH SOLE 217,330
SL GREEN RLTY CORP COM 78440X101 16,573 216,953 SH SOLE 216,953
TELLABS INC COM 879664100 12,025 1,103,195 SH SOLE 1,103,195
VICOR CORP COM 925815102 8,525 539,200 SH SOLE 539,200
VORNADO RLTY TR SH BEN INT 929042109 15,386 184,333 SH SOLE 184,333
CANADIAN OPERATIONS - AMOUNTS SHOWN ARE IN U.S. DOLLARS
Agco Corp COM 001084102 1,345 81,200 SH SOLE 81,200
ATI Technologies Inc COM 001941103 360 21,200 SH SOLE 21,200
AT&T Inc COM 00206R102 4,776 195,000 SH SOLE 195,000
Abbot Laboratories COM 002824100 35 900 SH SOLE 900
Aber Diamond Corporation COM 002893105 722 19,600 SH SOLE 19,600
Abitibi-Consolidated Inc COM 003924107 542 135,700 SH SOLE 135,700
Ace Cash Express Inc COM 004403101 105 4,500 SH SOLE 4,500
Agrium Inc COM 008916108 376 17,100 SH SOLE 17,100
Alcan Inc COM 013716105 10,634 259,575 SH SOLE 259,575
Alcoa Inc COM 013817101 4,163 140,800 SH SOLE 140,800
Alliance Atlantis Comm
Inc COM 01853E204 317 10,800 SH SOLE 10,800
Allied Irish Banks plc COM 019228402 3,394 79,000 SH SOLE 79,000
Altria Group COM 02209S103 3,407 45,600 SH SOLE 45,600
American Express Co COM 025816109 257 5,000 SH SOLE 5,000
American International
Group COM 026874107 4,107 60,200 SH SOLE 60,200
American Standard
Companies COM 029712106 48 1,200 SH SOLE 1,200
Ameriprise Financial Inc COM 03076C106 41 1,000 SH SOLE 1,000
Amvescap PLC COM 03235E100 1,853 120,400 SH SOLE 120,400
Angiotech Pharmaceuticals
Inc COM 034918102 197 15,000 SH SOLE 15,000
Angiotech Pharmaceuticals
Inc COM 034918102 187 14,200 SH SOLE 14,200
Apache Corporation COM 037411105 809 11,800 SH SOLE 11,800
Asahi Glass Co Ltd COM 043393206 1,897 14,600 SH SOLE 14,600
Avery Dennison Corp COM 053611109 1,503 27,200 SH SOLE 27,200
BCE Inc COM 05534B109 14,627 611,842 SH SOLE 611,842
BP PLC COM 055622104 2,922 45,500 SH SOLE 45,500
Bank of America Corp COM 060505104 115 2,500 SH SOLE 2,500
Bank of Montreal COM 063671101 7,977 143,076 SH SOLE 143,076
Bank of Nova Scotia COM 064149107 13,535 341,987 SH SOLE 341,987
Barclays PLC COM 06738E204 1,595 37,900 SH SOLE 37,900
Barrick Gold Corp COM 067901108 4,234 152,300 SH SOLE 152,300
Beckman Coulter Inc COM 075811109 854 15,000 SH SOLE 15,000
Boston Scientific COM 101137107 6,830 278,900 SH SOLE 278,900
Brookfield Asset Mgmt COM 112585104 178 3,550 SH SOLE 3,550
Burlington North Santa Fe COM 12189T104 2,153 30,400 SH SOLE 30,400
CAE Inc COM 124765108 3,111 425,700 SH SOLE 425,700
CHC Helicopter Corp COM 12541C203 145 6,200 SH SOLE 6,200
CIT Group Inc COM 125581108 83 1,600 SH SOLE 1,600
CVS Corp COM 126650100 63 2,400 SH SOLE 2,400
Cameco Corp COM 13321L108 430 6,800 SH SOLE 6,800
Cdn Imp Bank of Commerce COM 136069101 10,073 153,690 SH SOLE 153,690
Cdn National Railways COM 136375102 10,511 131,560 SH SOLE 131,560
Canadian Nat Resources
Ltd COM 136385101 717 14,500 SH SOLE 14,500
Canadian Pacific Railway COM 13645T100 5,837 139,688 SH SOLE 139,688
Canon Inc COM 138006309 2,541 43,200 SH SOLE 43,200
Capital One Fin Corp COM 14040H105 35 400 SH SOLE 400
Caterpillar Inc COM 149123101 144 2,500 SH SOLE 2,500
Cendant Corp COM 151313103 52 3,000 SH SOLE 3,000
Chevron Corp COM 166764100 57 1,000 SH SOLE 1,000
Cisco Systems COM 17275R102 51 3,000 SH SOLE 3,000
Citigroup Inc COM 172967101 6,086 125,400 SH SOLE 125,400
Clear Channel Comm COM 184502102 - - SH SOLE -
Colgate Palmolive COM 194162103 2,523 46,000 SH SOLE 46,000
Corus Entertainment COM 220874101 177 6,600 SH SOLE 6,600
Curtiss-Wright Corp COM 231561101 109 2,000 SH SOLE 2,000
Datamirror Corporation COM 237926100 100 11,250 SH SOLE 11,250
John Deere & Co. COM 244199105 170 2,500 SH SOLE 2,500
Dell Inc COM 24702R101 180 6,000 SH SOLE 6,000
Diageo PLC COM 25243Q205 4,821 82,700 SH SOLE 82,700
Dollar General Corp COM 256669102 34 1,800 SH SOLE 1,800
Domtar Inc. COM 257561100 3,003 521,700 SH SOLE 521,700
Draxis Health Inc COM 26150J101 101 23,400 SH SOLE 23,400
Duke Energy Corporation COM 264399106 5,007 182,400 SH SOLE 182,400
Eastman Kodak Co COM 277461109 4,680 200,000 SH SOLE 200,000
Embraer Empresa
Brasileira COM 29081M102 - - SH SOLE -
EnCana Corporation COM 292505104 16,464 365,186 SH SOLE 365,186
Enbridge Inc COM 29250N105 2,591 83,121 SH SOLE 83,121
Extendicare Inc COM 30224T871 58 3,700 SH SOLE 3,700
Exxon Mobil Corp COM 30231G102 225 4,000 SH SOLE 4,000
Fairmont Hotels COM 305204109 270 6,400 SH SOLE 6,400
Falconbridge Ltd COM 306104100 627 21,200 SH SOLE 21,200
Federal National Mtge
Assoc COM 313586109 586 12,000 SH SOLE 12,000
First Data Corp COM 319963104 71 1,650 SH SOLE 1,650
Fiserv Inc COM 337738108 35 800 SH SOLE 800
Fluor Corporation COM 343412102 2,016 26,100 SH SOLE 26,100
France Telecom SA-Spons
ADR COM 35177Q105 3,219 129,600 SH SOLE 129,600
General Elec Co COM 369604103 1,227 35,000 SH SOLE 35,000
Gildan Activewear Inc COM 375916103 528 12,300 SH SOLE 12,300
Glamis Gold COM 376775102 282 10,300 SH SOLE 10,300
Glaxosmithkline Plc COM 37733W105 3,382 67,000 SH SOLE 67,000
Gold Fields Ltd COM 38059T106 2,063 117,000 SH SOLE 117,000
Goldcorp Inc COM 380956409 1,015 45,700 SH SOLE 45,700
Group CGI COM 39945C109 5,774 723,800 SH SOLE 723,800
HSBC Holdings Plc COM 404280406 2,535 31,500 SH SOLE 31,500
Hewlett Packard Co COM 428236103 1,661 58,000 SH SOLE 58,000
Home Depot Inc COM 437076102 243 6,000 SH SOLE 6,000
Honeywell International
Inc COM 438516106 2,324 62,400 SH SOLE 62,400
Hydrogenics Corporation COM 448882100 72 23,700 SH SOLE 23,700
Imperial Oil Ltd COM 453038408 4,593 46,400 SH SOLE 46,400
Inco Ltd COM 453258402 282 6,500 SH SOLE 6,500
Intel Corp COM 458140100 250 10,000 SH SOLE 10,000
I B M Corp COM 459200101 37 450 SH SOLE 450
Ishares COM 464286608 738 9,500 SH SOLE 9,500
Ishares COM 464286665 1,134 11,500 SH SOLE 11,500
Ishares COM 464286699 2,007 108,000 SH SOLE 108,000
Ishares COM 464286707 2,863 110,200 SH SOLE 110,200
Ishares COM 464286806 639 31,500 SH SOLE 31,500
Ishares COM 464286822 1,514 42,400 SH SOLE 42,400
Ishares COM 464286848 9,437 698,000 SH SOLE 698,000
Ishares Tr COM 464287465 186,528 3,138,623 SH SOLE 3,138,623
Johnson & Johnson COM 478160104 2,548 42,400 SH SOLE 42,400
Johnson Matthey PLC COM 479142309 2,827 58,400 SH SOLE 58,400
Jones Apparel Group COM 480074103 45 1,450 SH SOLE 1,450
Kimberly Clark COM 494368103 34 575 SH SOLE 575
Kinder Morgan Inc COM 49455P101 791 8,600 SH SOLE 8,600
Kohls Corporation COM 500255104 34 700 SH SOLE 700
Lilly (Eli) and Co COM 532457108 1,811 32,000 SH SOLE 32,000
Lincoln National Corp COM 534187109 46 870 SH SOLE 870
Lowe's Cos Inc COM 548661107 47 700 SH SOLE 700
Lucent Technologies COM 549463107 5,054 1,900,000 SH SOLE 1,900,000
MDS Inc COM 55269P302 7,957 461,300 SH SOLE 461,300
MRV Communications Inc COM 553477100 2,134 1,041,100 SH SOLE 1,041,100
Magna International Inc COM 559222401 7,257 100,716 SH SOLE 100,716
Manulife Financial Corp COM 56501R106 14,248 243,300 SH SOLE 243,300
Masco Corp COM 574599106 33 1,100 SH SOLE 1,100
Methanex Corp COM 59151K108 272 14,500 SH SOLE 14,500
Microsoft Corp COM 594918104 3,538 135,300 SH SOLE 135,300
Monro Muffler Brake Inc COM 610236101 182 6,000 SH SOLE 6,000
Morgan Stanley Co COM 617446448 2,497 44,000 SH SOLE 44,000
Motorola Inc COM 620076109 1,062 47,000 SH SOLE 47,000
Nasdaq 100 COM 631100104 13,082 323,000 SH SOLE 323,000
Neurochem Inc COM 64125K101 238 16,700 SH SOLE 16,700
Nippon Tel & Tel Co COM 654624105 3,764 165,000 SH SOLE 165,000
Nokia Corp COM 654902204 183 10,000 SH SOLE 10,000
Nomura Holdings Inc COM 65535H208 3,556 185,000 SH SOLE 185,000
Nortel Networks Corp COM 656568102 3,190 1,047,700 SH SOLE 1,047,700
North Am Palladium COM 656912102 103 12,200 SH SOLE 12,200
North Fork Bancorporation COM 659424105 57 2,100 SH SOLE 2,100
Northgate Minerals Corp COM 666416102 150 81,900 SH SOLE 81,900
Nova Chemicals Corp COM 66977W109 3,915 117,600 SH SOLE 117,600
Novartis AG COM 66987V109 787 15,000 SH SOLE 15,000
Novelis Inc COM 67000X106 4,394 210,115 SH SOLE 210,115
PPG Industries COM 693506107 174 3,000 SH SOLE 3,000
Pepsico Inc COM 713448108 - - SH SOLE -
Petro Canada Limited COM 71644E102 1,176 29,400 SH SOLE 29,400
Pfizer Inc COM 717081103 5,317 228,000 SH SOLE 228,000
Placer Dome Inc COM 725906101 10,412 456,000 SH SOLE 456,000
Potash Corp of Sask Inc COM 73755L107 335 4,200 SH SOLE 4,200
Precision Drilling Trust COM 740215108 408 12,400 SH SOLE 12,400
Procter & Gamble Co COM 742718109 232 4,000 SH SOLE 4,000
Prudential Financial Inc COM 744320102 51 700 SH SOLE 700
Quebecor World Inc COM 748203106 2,557 189,600 SH SOLE 189,600
Reed Elsevier NV COM 758204101 1,593 57,000 SH SOLE 57,000
Research In Motion COM 760975102 1,271 19,300 SH SOLE 19,300
Rexam plc COM 761655406 2,454 57,000 SH SOLE 57,000
Rogers Communication
Class B COM 775109200 477 11,300 SH SOLE 11,300
Royal Bank of Canada COM 780087102 17,717 227,453 SH SOLE 227,453
Russell Corp COM 782352108 135 10,000 SH SOLE 10,000
SPDR Trust COM 78462F103 598,171 4,804,198 SH SOLE 4,804,198
Schlumberger Ltd COM 806857108 - - SH SOLE -
Siemens AG COM 826197501 4,571 53,400 SH SOLE 53,400
Sierra Wireless Inc COM 826516106 151 13,700 SH SOLE 13,700
Statoil ASA COM 85771P102 827 36,000 SH SOLE 36,000
Sun Life Financial Inc COM 866796105 1,074 26,800 SH SOLE 26,800
Suncor Energy Inc COM 867229106 2,112 33,589 SH SOLE 33,589
TLC Vision Corp COM 872549100 66 10,200 SH SOLE 10,200
Talisman Energy Inc COM 87425E103 2,716 51,400 SH SOLE 51,400
Telus Corp COM 87971M202 915 22,850 SH SOLE 22,850
Tesco Corp COM 88157K101 175 9,500 SH SOLE 9,500
Thomson Corp COM 884903105 345 10,136 SH SOLE 10,136
3M Company COM 88579Y101 3,441 44,400 SH SOLE 44,400
Tomkins PLC COM 890030208 3,215 156,000 SH SOLE 156,000
Toronto Dominion Bank COM 891160509 7,054 134,526 SH SOLE 134,526
Toyota Motor Corporation COM 892331307 4,289 41,000 SH SOLE 41,000
TransAlta Corp COM 89346D107 3,838 176,100 SH SOLE 176,100
TransCanada Corp COM 89353D107 12,087 384,461 SH SOLE 384,461
TransGlobe Energy
Corporation COM 893662106 68 13,200 SH SOLE 13,200
Tyco Intl Ltd COM 902124106 4,130 143,100 SH SOLE 143,100
United Technologies Corp COM 913017109 1,811 32,400 SH SOLE 32,400
United Technologies Corp COM 913017109 1,811 32,400 SH SOLE 32,400
UPM Kymmene Corporation COM 915436109 3,207 163,600 SH SOLE 163,600
Vasogen Inc COM 92232F103 48 23,800 SH SOLE 23,800
Verizon Comm COM 92343V104 2,982 99,000 SH SOLE 99,000
Viacom Inc COM 925524308 3,912 120,000 SH SOLE 120,000
Vodafone Group Plc COM 92857W100 35 1,650 SH SOLE 1,650
Volvo AB COM 928856400 2,811 59,700 SH SOLE 59,700
WPP Group PLC COM 929309300 1,728 32,000 SH SOLE 32,000
Wal Mart Stores Inc COM 931142103 3,707 79,200 SH SOLE 79,200
Wellpoint Inc COM 94973V107 52 650 SH SOLE 650
Westwood One COM 961815107 20 1,250 SH SOLE 1,250
Wyeth COM 983024100 2,350 51,000 SH SOLE 51,000
Deutsche Bank AG COM D18190898 3,265 33,700 SH SOLE 33,700
UBS AG COM H8920M855 1,836 19,300 SH SOLE 19,300
Check Point Software Tech
Ltd COM M22465104 1,428 71,200 SH SOLE 71,200
2,010,915