The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
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 MANAGER SOLE SHARED NONE
Advantage Oil & Gas Ltd. COM 00765F101 11,605 1,321,700 SH   DFND 1 11,605 0 0
Agco Corp COM 001084102 14,383 239,000 SH   DFND 1 14,383 0 0
Agrium Inc COM 008916108 8,034 63,300 SH   DFND 1 8,034 0 0
Alamos Gold Inc. CL A 011532108 25,988 2,433,350 SH   DFND 1 25,988 0 0
Algonquin Pwr Utils Corp COM 015857105 57,297 4,511,570 SH   DFND 1 57,297 0 0
Allegion Pub Ltd Co COM G0176J109 215 2,844 SH   DFND 1 215 0 0
Alphabet Inc CL A 02079K305 35,767 42,188 SH   DFND 1 35,767 0 0
Alphabet Inc CL C 02079K107 236,489 285,078 SH   DFND 1 236,489 0 0
Amdocs Ltd COM G02602103 31,654 519,000 SH   DFND 1 31,654 0 0
American Express Company COM 025816109 52,640 665,400 SH   DFND 1 52,640 0 0
American Tower Corp COM 03027X100 27,595 227,043 SH   DFND 1 27,595 0 0
American Water Works Co Inc COM 030420103 9,815 126,200 SH   DFND 1 9,815 0 0
Amerisourcebergen Corp COM 03073E105 81,898 925,400 SH   DFND 1 81,898 0 0
Apple Inc COM 037833100 7,758 54,000 SH   DFND 1 7,758 0 0
Autozone Inc COM 053332102 22,740 31,450 SH   DFND 1 22,740 0 0
Avalonbay Communities Inc COM 053484101 26,973 146,910 SH   DFND 1 26,973 0 0
B2Gold Corp COM 11777Q209 11,600 3,060,580 SH   DFND 1 11,600 0 0
Bank Montreal COM 063671101 24,395 245,600 SH   DFND 1 24,395 0 0
Bank of Nova Scotia COM 064149107 43,078 553,700 SH   DFND 1 43,078 0 0
Baytex Energy Corp COM 07317Q105 3,486 767,800 SH   DFND 1 3,486 0 0
Bce Inc COM 05534B760 125,007 2,123,080 SH   DFND 1 125,007 0 0
Berkshire Hathaway Inc CL A 084670108 187,637 751 SH   DFND 1 187,637 0 0
Berkshire Hathaway Inc CL B 084670702 17,101 102,595 SH   DFND 1 17,101 0 0
Boston Properties Inc COM 101121101 31,859 240,605 SH   DFND 1 31,859 0 0
Broadridge Financial Solutions Inc COM 11133T103 245 3,600 SH   DFND 1 245 0 0
Brookfield Asset Mgmt Inc. CL A 112585104 219,100 6,009,325 SH   DFND 1 219,100 0 0
Brookfield Business Partners L.P. LP INT UNIT G16234109 14,079 427,274 SH   DFND 1 14,079 0 0
Brookfield Infrastructure Partners L.P. LP INT UNIT G16252101 170,983 4,421,590 SH   DFND 1 170,983 0 0
Canadian Natural Resources Ltd COM 136385101 7,423 169,600 SH   DFND 1 7,423 0 0
Canadian National Railway Ltd COM 136375102 133,561 1,360,650 SH   DFND 1 133,561 0 0
Canadian Pacific Railway Ltd COM 13645T100 102,090 522,600 SH   DFND 1 102,090 0 0
Cenovus Energy Inc COM 15135U109 78,197 5,195,800 SH   DFND 1 78,197 0 0
Cigna Corporation COM 125509109 105,978 723,450 SH   DFND 1 105,978 0 0
Cinemark Holdings Inc COM 17243V102 99,566 2,245,523 SH   DFND 1 99,566 0 0
Cisco Systems Inc COM 17275R102 38,623 1,142,700 SH   DFND 1 38,623 0 0
CMS Energy Corporation COM 125896100 6,850 153,100 SH   DFND 1 6,850 0 0
Cognizant Technology Solutions Corp CL A 192446102 45,289 760,900 SH   DFND 1 45,289 0 0
Comcast Corp CL A 20030N101 49,803 1,324,900 SH   DFND 1 49,803 0 0
Crescent Point Energy Corp COM 22576C101 132,919 9,249,737 SH   DFND 1 132,919 0 0
Crown Castle International Corp COM 22822V101 11,545 122,230 SH   DFND 1 11,545 0 0
Crown Holdings Inc COM 228368106 68,284 1,289,600 SH   DFND 1 68,284 0 0
Cst Brands Inc COM 12646R105 40,677 845,860 SH   DFND 1 40,677 0 0
Cvs Health Corp COM 126650100 428,767 5,462,000 SH   DFND 1 428,767 0 0
Edison International COM 281020107 7,045 88,500 SH   DFND 1 7,045 0 0
Enbridge Inc COM 29250N105 32,002 579,755 SH   DFND 1 32,002 0 0
Enbridge Inc Note 6.000 per cent 1/15/2077 NOTE 29250NAN5 3,222,204 31,785,000 PRN   DFND 1 3,222,204 0 0
Equinix, Inc. COM 29444U700 26,645 66,550 SH   DFND 1 26,645 0 0
Equity Residential INT 29476L107 24,428 392,600 SH   DFND 1 24,428 0 0
Facebook Inc CL A 30303M102 40,001 281,600 SH   DFND 1 40,001 0 0
Federal Realty Investment Trust INT 313747206 24,084 180,405 SH   DFND 1 24,084 0 0
Fedex Corporation COM 31428X106 10,001 51,249 SH   DFND 1 10,001 0 0
First Republic Bank/ca COM 33616C100 29,081 310,000 SH   DFND 1 29,081 0 0
Fortis Inc COM 349553107 18,957 430,155 SH   DFND 1 18,957 0 0
Fortuna Silver Mines Inc COM 349915108 6,706 969,100 SH   DFND 1 6,706 0 0
Franklin Resources Inc COM 354613101 1,466 34,800 SH   DFND 1 1,466 0 0
Gazit Globe Ltd COM M4793C102 33,525 900,000 SH   DFND 1 33,525 0 0
GGP Inc COM 36174X101 32,429 1,398,999 SH   DFND 1 32,429 0 0
Gildan Activewear Inc COM 375916103 74,257 2,066,700 SH   DFND 1 74,257 0 0
Gilead Sciences Inc COM 375558103 121,489 1,788,700 SH   DFND 1 121,489 0 0
Goldcorp Inc COM 380956409 98,362 5,070,200 SH   DFND 1 98,362 0 0
Golden Star Res Ltd Cda COM 38119T104 17,088 15,122,533 SH   DFND 1 17,088 0 0
Gran Tierra Energy Inc COM 38500T101 6,531 1,844,800 SH   DFND 1 6,531 0 0
CGI Group Inc CL A 39945C109 78,465 1,231,400 SH   DFND 1 78,465 0 0
HSBC Holdings Plc 6.875 per cent 12/29/2049 NOTE 404280BC2 1,668,996 15,675,000 PRN   DFND 1 1,668,996 0 0
International Flavors & Fragrances Inc COM 459506101 3,790 28,600 SH   DFND 1 3,790 0 0
ishares iBoxx $ High Yield Corporate Bond ETF ETF 464288513 1,172 13,350 SH   DFND 1 1,172 0 0
Jpmorgan Chase & Co COM 46625H100 152,497 1,736,080 SH   DFND 1 152,497 0 0
Kansas City Southern COM 485170302 2,316 27,000 SH   DFND 1 2,316 0 0
Kinder Morgan Inc COM 49456B101 13,810 635,247 SH   DFND 1 13,810 0 0
Klondex Mines Ltd COM 498696103 66,951 12,900,000 SH   DFND 1 66,951 0 0
Laboratory Corp Of America Holdings COM 50540R409 102,397 713,720 SH   DFND 1 102,397 0 0
Liberty Global Plc LiLAC CL C G5480U153 20,690 898,000 SH   DFND 1 20,690 0 0
Liberty Global Plc CL C G5480U120 161,424 4,606,850 SH   DFND 1 161,424 0 0
Live Nation Entertainment Inc COM 538034109 172,827 5,690,700 SH   DFND 1 172,827 0 0
Lloyds Banking Group Plc 7.500 per cent 4/30/2049 NOTE 539439AG4 1,665,947 15,715,000 PRN   DFND 1 1,665,947 0 0
Lowes Cos Inc COM 548661107 51,332 624,400 SH   DFND 1 51,332 0 0
Macquarie Infrastructure Corp. COM 55608B105 26,479 328,608 SH   DFND 1 26,479 0 0
Magna International Inc COM 559222401 216,596 3,774,100 SH   DFND 1 216,596 0 0
Markel Corp COM 570535104 22,542 23,100 SH   DFND 1 22,542 0 0
Mastercard Inc CL A 57636Q104 159,602 1,419,060 SH   DFND 1 159,602 0 0
Mckesson Corp COM 58155Q103 137,619 928,230 SH   DFND 1 137,619 0 0
Medtronic Inc COM G5960L103 88,092 1,093,500 SH   DFND 1 88,092 0 0
Microsoft Corp COM 594918104 93,106 1,413,700 SH   DFND 1 93,106 0 0
Mountain Province Diamonds Inc. COM 62426E402 3,375 710,600 SH   DFND 1 3,375 0 0
Newell Brands Inc COM 651229106 175,108 3,712,271 SH   DFND 1 175,108 0 0
Nextera Energy Inc COM 65339F101 12,267 95,561 SH   DFND 1 12,267 0 0
Nice Ltd ADR 653656108 483 7,100 SH   DFND 1 483 0 0
Nielsen Hldgs Plc COM G6518L108 6,987 169,125 SH   DFND 1 6,987 0 0
Norbord Inc COM 65548P403 1,136 30,000 SH   DFND 1 1,136 0 0
Norfolk Southern Corp COM 655844108 5,453 48,700 SH   DFND 1 5,453 0 0
Omnicom Group Inc COM 681919106 77,261 896,190 SH   DFND 1 77,261 0 0
Open Text Corp COM 683715106 57,503 1,272,200 SH   DFND 1 57,503 0 0
Oracle Corp COM 68389X105 263,682 5,910,825 SH   DFND 1 263,682 0 0
Parsley Energy Inc CL A 701877102 3,927 120,800 SH   DFND 1 3,927 0 0
Pembina Pipeline Corp COM 706327103 83,126 1,972,605 SH   DFND 1 83,126 0 0
Penske Automotive Group Inc COM 70959W103 55,223 1,179,732 SH   DFND 1 55,223 0 0
Pfizer Inc COM 717081103 19,660 574,700 SH   DFND 1 19,660 0 0
Pioneer Natural Resource Co COM 723787107 3,296 17,700 SH   DFND 1 3,296 0 0
Primero Mining Corp COM 74164W106 448 613,200 SH   DFND 1 448 0 0
Prologis Inc COM 74340W103 23,480 452,590 SH   DFND 1 23,480 0 0
Public Storage COM 74460D109 1,768 8,078 SH   DFND 1 1,768 0 0
Regency Centers Corp COM 758849103 10,257 154,500 SH   DFND 1 10,257 0 0
Republic Services Inc COM 760759100 292,943 4,663,961 SH   DFND 1 292,943 0 0
Restaurant Brands International Inc. COM 76131D103 42,589 574,900 SH   DFND 1 42,589 0 0
Richmont Mines Inc COM 76547T106 20,896 2,215,950 SH   DFND 1 20,896 0 0
Rogers Communications Inc CL B 775109200 2,158 36,700 SH   DFND 1 2,158 0 0
Royal Bank of Canada COM 780087102 38,086 393,250 SH   DFND 1 38,086 0 0
Sandstorm Gold Ltd COM 80013R206 34,918 6,104,610 SH   DFND 1 34,918 0 0
Sba Communications Corp CL A 78410G104 11,235 93,335 SH   DFND 1 11,235 0 0
Scholastic Corp COM 807066105 2,435 57,200 SH   DFND 1 2,435 0 0
Sempra Energy COM 816851109 10,654 96,415 SH   DFND 1 10,654 0 0
Sensata Technologies Holding N.V. COM N7902X106 48,054 1,100,400 SH   DFND 1 48,054 0 0
Shaw Communications Inc CL B 82028K200 7,003 254,000 SH   DFND 1 7,003 0 0
Silver Standard Resources Inc. COM 82823L106 14,948 1,058,606 SH   DFND 1 14,948 0 0
Simon Property Group Inc COM 828806109 46,757 271,795 SH   DFND 1 46,757 0 0
SL Green Realty Corp COM 78440X101 24,203 227,000 SH   DFND 1 24,203 0 0
Spdr Gold Trust COM 78463V107 54,997 463,250 SH   DFND 1 54,997 0 0
SPDR Series Trust Bloomberg Barclays ETF ETF 78464A417 1,171 31,700 SH   DFND 1 1,171 0 0
Stantec Inc COM 85472N109 42,278 1,225,100 SH   DFND 1 42,278 0 0
Stericycle Inc COM 858912108 20,192 243,600 SH   DFND 1 20,192 0 0
Stericycle Inc Preferred Series A 5.250 per cent Sep 15/2018 PFD 858912207 6,554 91,600 PRN   DFND 1 6,554 0 0
Sun Life Financial Inc COM 866796105 6,730 138,600 SH   DFND 1 6,730 0 0
Tahoe Resources Inc. COM 873868103 43,722 4,093,817 SH   DFND 1 43,722 0 0
Telus Corp COM 87971M103 7,316 169,475 SH   DFND 1 7,316 0 0
Thomson Reuters Corp COM 884903105 76,897 1,337,100 SH   DFND 1 76,897 0 0
Timmins Gold Corp COM 88741P103 8,114 16,227,700 SH   DFND 1 8,114 0 0
Tjx Cos Inc/the COM 872540109 6,410 81,060 SH   DFND 1 6,410 0 0
Torchmark Corp COM 891027104 27,580 358,000 SH   DFND 1 27,580 0 0
Toronto Dominion Bk COM 891160509 46,234 694,100 SH   DFND 1 46,234 0 0
Transcanada Corp COM 89353D107 21,136 344,400 SH   DFND 1 21,136 0 0
Union Pacific Corp COM 907818108 13,483 127,293 SH   DFND 1 13,483 0 0
United Parcel Service Inc CL B 911312106 217,978 2,031,479 SH   DFND 1 217,978 0 0
United Technologies Corp COM 913017109 12,713 113,300 SH   DFND 1 12,713 0 0
Unitedhealth Group Inc. COM 91324P102 155,416 947,600 SH   DFND 1 155,416 0 0
Us Bancorp COM 902973304 55,135 1,070,575 SH   DFND 1 55,135 0 0
Ventas Inc COM 92276F100 1,817 27,935 SH   DFND 1 1,817 0 0
Vermilion Energy Inc COM 923725105 7,803 156,475 SH   DFND 1 7,803 0 0
Visa Inc CL A 92826C839 135,929 1,529,522 SH   DFND 1 135,929 0 0
Vornado Realty Trust INT 929042109 1,871 18,655 SH   DFND 1 1,871 0 0
VWR Corporation COM 91843L103 227 8,050 SH   DFND 1 227 0 0
Walgreens Boots Alliance Inc COM 931427108 7,736 93,150 SH   DFND 1 7,736 0 0
Waste Connections, Inc. COM 94106B101 254,081 2,163,869 SH   DFND 1 254,081 0 0
WEC Energy Group Inc COM 92939U106 6,687 110,300 SH   DFND 1 6,687 0 0
Wells Fargo & Co COM 949746101 147,180 2,644,270 SH   DFND 1 147,180 0 0
Williams Cos Inc/the COM 969457100 18,831 636,395 SH   DFND 1 18,831 0 0
Willis Towers Watson Pub Ltd COM G96629103 58,534 447,200 SH   DFND 1 58,534 0 0
Zimmer Biomet Holdings Inc COM 98956P102 25,491 208,755 SH   DFND 1 25,491 0 0