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
ADOBE INC COM 00724F101 5,580 20,200 SH   SOLE N/A 0 0 20,200
ALPHABET INC CAP STK CL A 02079K305 12,700 10,400 SH   SOLE N/A 0 0 10,400
ALPHABET INC CAP STK CL C 02079K107 3,497 2,165 SH   DFND N/A 0 0 2,165
AMERICAN TOWER CORP NEW COM 03027X100 2,800 20,907 SH   DFND N/A 0 0 20,907
ARES CAP CORP COM 04010L103 6,554 265,444 SH   SOLE N/A 0 0 265,444
BLACKROCK INC COM 09247X101 2,451 5,500 SH   SOLE N/A 0 0 5,500
BOSTON SCIENTIFIC CORP COM 101137107 5,046 124,000 SH   SOLE N/A 0 0 124,000
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 9,357 133,000 SH   SOLE N/A 0 0 133,000
BROOKFIELD INFRAST PARTNERS LP INT UNIT G16252101 6,954 106,000 SH   SOLE N/A 0 0 106,000
BROOKFIELD PROPERTY PARTRS L UNIT LTD PARTN G16249107 9,788 364,000 SH   SOLE N/A 0 0 364,000
CANADIAN NAT RES LTD COM 136385101 15,996 453,800 SH   SOLE N/A 0 0 453,800
CANADIAN NATL RY CO COM 136375102 12,919 108,600 SH   SOLE N/A 0 0 108,600
CARNIVAL CORP UNIT 99/99/9999 143658300 2,797 64,000 SH   SOLE N/A 0 0 64,000
CDN IMPERIAL BK COMM TORONTO COM 136069101 10,450 95,600 SH   SOLE N/A 0 0 95,600
CHECK POINT SOFTWARE TECH LT ORD M22465104 223 1,537 SH   DFND N/A 0 0 1,537
CHEESECAKE FACTORY INC COM 163072101 8,961 215,000 SH   SOLE N/A 0 0 215,000
CITIGROUP INC COM NEW 172967424 9,326 135,000 SH   SOLE N/A 0 0 135,000
CLOROX CO DEL COM 189054109 2,073 10,300 SH   DFND N/A 0 0 10,300
COCA COLA CO COM 191216100 3,034 36,492 SH   DFND N/A 0 0 36,492
COMCAST CORP NEW CL A 20030N101 7,078 157,000 SH   SOLE N/A 0 0 157,000
CONAGRA BRANDS INC COM 205887102 3,037 74,700 SH   DFND N/A 0 0 74,700
COSTCO WHSL CORP NEW COM 22160K105 7,779 27,000 SH   SOLE N/A 0 0 27,000
CROWN CASTLE INTL CORP NEW COM 22822V101 6,394 46,000 SH   SOLE N/A 0 0 46,000
DAVE & BUSTERS ENTMT INC COM 238337109 5,453 140,000 SH   SOLE N/A 0 0 140,000
DELPHI TECHNOLOGIES PLC SHS G2709G107 5,454 407,000 SH   SOLE N/A 0 0 407,000
ECOLAB INC COM 278865100 3,743 18,603 SH   DFND N/A 0 0 18,603
ELECTRONIC ARTS INC COM 285512109 9,293 95,000 SH   SOLE N/A 0 0 95,000
EMERSON ELEC CO COM 291011104 4,012 60,000 SH   SOLE N/A 0 0 60,000
ENBRIDGE INC COM 29250N105 17,972 386,500 SH   SOLE N/A 0 0 386,500
EOG RES INC COM 26875P101 4,973 67,000 SH   SOLE N/A 0 0 67,000
EXXON MOBIL CORP COM 30231G102 1,913 20,447 SH   DFND N/A 0 0 20,447
FEDEX CORP COM 31428X106 6,987 48,000 SH   SOLE N/A 0 0 48,000
FIRST REP BK SAN FRANCISCO C COM 33616C100 1,620 12,641 SH   DFND N/A 0 0 12,641
FRANCO NEVADA CORP COM 351858105 6,821 56,500 SH   SOLE N/A 0 0 56,500
FRANKLIN RES INC COM 354613101 7,374 255,500 SH   SOLE N/A 0 0 255,500
GENERAL MLS INC COM 370334104 4,360 59,700 SH   DFND N/A 0 0 59,700
GILDAN ACTIVEWEAR INC COM 375916103 2,092 44,500 SH   SOLE N/A 0 0 44,500
HDFC BANK LTD SPONSORED ADS 40415F101 6,082 80,456 SH   DFND N/A 0 0 80,456
HOME DEPOT INC COM 437076102 4,160 13,531 SH   DFND N/A 0 0 13,531
HOME DEPOT INC COM 437076102 4,408 19,000 SH   SOLE N/A 0 0 19,000
HORMEL FOODS CORP COM 440452100 2,347 40,500 SH   DFND N/A 0 0 40,500
HORMEL FOODS CORP COM 440452100 6,166 141,000 SH   SOLE N/A 0 0 141,000
JPMORGAN CHASE & CO COM 46625H100 9,768 83,000 SH   SOLE N/A 0 0 83,000
KIMBERLY CLARK CORP COM 494368103 4,611 24,500 SH   DFND N/A 0 0 24,500
L BRANDS INC COM 501797104 6,367 325,000 SH   SOLE N/A 0 0 325,000
LAMB WESTON HLDGS INC COM 513272104 2,778 28,833 SH   DFND N/A 0 0 28,833
LAUDER ESTEE COS INC CL A 518439104 4,775 24,000 SH   SOLE N/A 0 0 24,000
M & T BK CORP COM 55261F104 9,794 62,000 SH   SOLE N/A 0 0 62,000
MAGNA INTL INC COM 559222401 6,003 85,000 SH   SOLE N/A 0 0 85,000
MANULIFE FINL CORP COM 56501R106 9,630 396,300 SH   SOLE N/A 0 0 396,300
MEDTRONIC PLC SHS G5960L103 8,433 77,636 SH   SOLE N/A 0 0 77,636
MERCK & CO INC COM 58933Y105 3,435 30,800 SH   DFND N/A 0 0 30,800
MERCK & CO INC COM 58933Y105 6,145 73,000 SH   SOLE N/A 0 0 73,000
METHANEX CORP COM 59151K108 12,928 275,000 SH   SOLE N/A 0 0 275,000
MICROSOFT CORP COM 594918104 2,797 15,184 SH   DFND N/A 0 0 15,184
MICROSOFT CORP COM 594918104 12,785 91,960 SH   SOLE N/A 0 0 91,960
MOGO INC COM 60800C109 698 147,341 SH   SOLE N/A 0 0 147,341
MOLSON COORS BREWING CO CL B 60871R209 9,948 173,000 SH   SOLE N/A 0 0 173,000
MONDELEZ INTL INC CL A 609207105 1,334 18,200 SH   DFND N/A 0 0 18,200
MSCI INC COM 55354G100 1,114 3,862 SH   DFND N/A 0 0 3,862
NEWELL BRANDS INC COM 651229106 4,231 226,000 SH   SOLE N/A 0 0 226,000
NEXTERA ENERGY INC COM 65339F101 9,087 39,000 SH   SOLE N/A 0 0 39,000
NEXTERA ENERGY PARTNERS LP COM UNIT PART IN 65341B106 6,394 121,000 SH   SOLE N/A 0 0 121,000
NUTRIEN LTD COM 67077M108 7,392 112,000 SH   SOLE N/A 0 0 112,000
NVIDIA CORP COM 67066G104 5,570 32,000 SH   SOLE N/A 0 0 32,000
OSHKOSH CORP COM 688239201 4,359 57,500 SH   SOLE N/A 0 0 57,500
PEPSICO INC COM 713448108 7,541 55,000 SH   SOLE N/A 0 0 55,000
PFIZER INC COM 717081103 1,947 40,900 SH   DFND N/A 0 0 40,900
PFIZER INC COM 717081103 5,677 158,000 SH   SOLE N/A 0 0 158,000
PROCTER & GAMBLE CO COM 742718109 2,752 22,063 SH   DFND N/A 0 0 22,063
PROCTER & GAMBLE CO COM 742718109 9,950 80,000 SH   SOLE N/A 0 0 80,000
PROGRESSIVE CORP OHIO COM 743315103 4,172 54,000 SH   SOLE N/A 0 0 54,000
ROCKWELL AUTOMATION INC COM 773903109 3,296 20,000 SH   SOLE N/A 0 0 20,000
ROYAL BK CDA MONTREAL QUE COM 780087102 22,116 205,790 SH   SOLE N/A 0 0 205,790
SEAGATE TECHNOLOGY PLC SHS G7945M107 4,249 79,000 SH   SOLE N/A 0 0 79,000
SHAW COMMUNICATIONS INC CL B CONV 82028K200 8,798 338,000 SH   SOLE N/A 0 0 338,000
SHERWIN WILLIAMS CO COM 824348106 4,839 8,800 SH   SOLE N/A 0 0 8,800
STANTEC INC COM 85472N109 4,838 165,000 SH   SOLE N/A 0 0 165,000
SUN LIFE FINL INC COM 866796105 9,277 156,600 SH   SOLE N/A 0 0 156,600
SUNCOR ENERGY INC NEW COM 867224107 15,487 370,600 SH   SOLE N/A 0 0 370,600
SYNCHRONY FINL COM 87165B103 2,386 70,000 SH   SOLE N/A 0 0 70,000
TC ENERGY CORP COM 87807B107 11,530 168,070 SH   SOLE N/A 0 0 168,070
TECK RESOURCES LTD CL B 878742204 3,523 164,000 SH   SOLE N/A 0 0 164,000
THERMO FISHER SCIENTIFIC INC COM 883556102 5,512 24,337 SH   DFND N/A 0 0 24,337
THERMO FISHER SCIENTIFIC INC COM 883556102 6,408 22,000 SH   SOLE N/A 0 0 22,000
THL CREDIT INC COM 872438106 1,351 150,000 SH   SOLE N/A 0 0 150,000
THOR INDS INC COM 885160101 5,381 95,000 SH   SOLE N/A 0 0 95,000
TORONTO DOMINION BK ONT COM NEW 891160509 23,530 304,600 SH   SOLE N/A 0 0 304,600
TRACTOR SUPPLY CO COM 892356106 922 10,200 SH   SOLE N/A 0 0 10,200
UNITEDHEALTH GROUP INC COM 91324P102 4,781 22,000 SH   SOLE N/A 0 0 22,000
VALERO ENERGY CORP NEW COM 91913Y100 12,360 145,000 SH   SOLE N/A 0 0 145,000
VISA INC COM CL A 92826C839 8,773 51,000 SH   SOLE N/A 0 0 51,000
VISA INC COM CL A 92826C839 10,640 58,056 SH   DFND N/A 0 0 58,056
VULCAN MATLS CO COM 929160109 5,293 35,000 SH   SOLE N/A 0 0 35,000
WASTE MGMT INC DEL COM 94106L109 1,326 8,700 SH   DFND N/A 0 0 8,700
WASTE MGMT INC DEL COM 94106L109 4,830 42,000 SH   SOLE N/A 0 0 42,000
WELLS FARGO CO NEW COM 949746101 1,650 24,689 SH   DFND N/A 0 0 24,689
WHEATON PRECIOUS METALS CORP COM 962879102 6,496 187,000 SH   SOLE N/A 0 0 187,000
XYLEM INC COM 98419M100 6,290 79,000 SH   SOLE N/A 0 0 79,000