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
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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
Agrium Inc. COM 008916108 48,623 467,151 SH   SOLE   467,151 0 0
Bank of Montreal COM 063671101 54,732 914,519 SH   SOLE   914,519 0 0
Bank of Nova Scotia COM 064149107 54,394 1,085,648 SH   SOLE   1,085,648 0 0
Baxter International Inc. COM 071813109 10,322 150,685 SH   SOLE   150,685 0 0
Baytex Energy Corp. COM 07317Q105 6,783 429,500 SH   SOLE   429,500 0 0
BCE Inc. COM 05534B760 40,165 950,020 SH   SOLE   950,020 0 0
Becton Dickinson and Co. COM 075887109 11,831 82,392 SH   SOLE   82,392 0 0
BHP Billiton Ltd. ADR SPONSORED ADR 088606108 3,705 79,730 SH   SOLE   79,730 0 0
Canadian Imperial Bank of Comm COM 136069101 54,579 753,850 SH   SOLE   753,850 0 0
Canadian National Railway Co. COM 136375102 33,723 504,261 SH   SOLE   504,261 0 0
Canadian Natural Resources Ltd COM 136385101 48,352 1,579,563 SH   SOLE   1,579,563 0 0
Cenovus Energy Inc. COM 15135U109 42,115 2,501,670 SH   SOLE   2,501,670 0 0
Cisco Systems Inc. COM 17275R102 11,403 414,271 SH   SOLE   414,271 0 0
CSX Corp. COM 126408103 9,592 289,600 SH   SOLE   289,600 0 0
Deere & Co. COM 244199105 10,462 119,312 SH   SOLE   119,312 0 0
General Electric Co. COM 369604103 11,004 443,541 SH   SOLE   443,541 0 0
General Mills Inc. COM 370334104 11,510 203,354 SH   SOLE   203,354 0 0
Granite Real Estate Investment UNIT 99/99/9999 387437114 1,525 43,475 SH   SOLE   43,475 0 0
Honeywell International Inc. COM 438516106 11,740 112,550 SH   SOLE   112,550 0 0
Intel Corporation COM 458140100 10,536 336,935 SH   SOLE   336,935 0 0
Johnson & Johnson COM 478160104 10,752 106,883 SH   SOLE   106,883 0 0
Microsoft Corp. COM 594918104 10,661 262,235 SH   SOLE   262,235 0 0
Norfolk Southern Corp. COM 655844108 11,061 107,475 SH   SOLE   107,475 0 0
Novartis AG ADR SPONSORED ADR 66987V109 3,756 38,090 SH   SOLE   38,090 0 0
Oracle Corp COM 68389X105 9,365 217,028 SH   SOLE   217,028 0 0
PNC Financial Services Group I COM 693475105 12,284 131,741 SH   SOLE   131,741 0 0
Potash Corp of Saskatchewan In COM 73755L107 44,802 1,391,607 SH   SOLE   1,391,607 0 0
Rio Tinto PLC ADR SPONSORED ADR 767204100 1,254 30,300 SH   SOLE   30,300 0 0
Royal Bank of Canada COM 780087102 59,744 993,742 SH   SOLE   993,742 0 0
Sanofi ADR SPONSORED ADR 80105N105 381 7,575 SH   SOLE   7,575 0 0
SAP SE ADR SPON ADR 803054204 1,122 15,425 SH   SOLE   15,425 0 0
Sun Life Financial Inc. COM 866796105 36,832 1,196,789 SH   SOLE   1,196,789 0 0
Suncor Energy Inc. COM 867224107 48,221 1,652,370 SH   SOLE   1,652,370 0 0
TELUS Corp. COM 87971M103 44,980 1,355,914 SH   SOLE   1,355,914 0 0
The JM Smucker Co. COM 832696405 6,165 53,270 SH   SOLE   53,270 0 0
Toronto-Dominion Bank COM NEW 891160509 60,992 1,426,874 SH   SOLE   1,426,874 0 0
TransCanada Corp. COM 89353D107 8,664 203,000 SH   SOLE   203,000 0 0
Unilever PLC ADR SPON ADR NEW 904767704 1,503 36,045 SH   SOLE   36,045 0 0
United Technologies Corp. COM 913017109 10,999 93,845 SH   SOLE   93,845 0 0
US Bancorp COM NEW 902973304 11,501 263,372 SH   SOLE   263,372 0 0
Vermilion Energy Inc. COM 923725105 12,676 301,850 SH   SOLE   301,850 0 0
Wells Fargo & Co. COM 949746101 12,546 230,632 SH   SOLE   230,632 0 0