UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 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 & Chief Investment Officer
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Phone: 416-979-6217
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Signature, Place, and Date of Signing:
/s/ James M. A. Anderson Ontario, Canada 11/12/2005
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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: 302
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Form 13F Information Table Value Total: $ 1,685,566
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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 - JUNE 30, 2005
COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
COLUMN 1 COLUMN 2 COLUMN 3 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
U.S. OPERATIONS - AMOUNTS SHOWN ARE IN U.S. DOLLARS
AGERE SYS INC COM 00845V308 8,659 721,612 SH SOLE 721,612
ALEXANDRIA REAL
ESTATE EQ IN COM 015271109 13,630 185,567 SH SOLE 185,567
AMERICAN EXPRESS CO COM 025816109 8,896 167,118 SH SOLE 167,118
AMERICAN FINL RLTY TR COM 02607P305 14,559 946,650 SH SOLE 946,650
AMGEN INC COM 031162100 8,544 141,312 SH SOLE 141,312
AMR CORP COM 001765106 399 32,953 SH SOLE 32,953
ARCHSTONE SMITH TR COM 039583109 15,232 394,401 SH SOLE 394,401
ARRIS GROUP INC COM 04269Q100 8,496 975,395 SH SOLE 975,395
AVALONBAY CMNTYS INC COM 053484101 7,668 94,898 SH SOLE 94,898
AVAYA INC COM 053499109 8,435 1,013,881 SH SOLE 1,013,881
BANK OF AMERICA
CORPORATION COM 060505104 10,249 224,713 SH SOLE 224,713
BIOGEN IDEC INC COM 09062X103 8,707 252,736 SH SOLE 252,736
BLOCKBUSTER INC CL A 093679108 7,402 811,595 SH SOLE 811,595
BOSTON SCIENTIFIC CORP COM 101137107 11,987 443,956 SH SOLE 443,956
BRE PROPERTIES INC CL A 05564E106 12,991 310,415 SH SOLE 310,415
BROCADE COMMUNICATIONS
SYS I COM 111621108 8,171 2,105,815 SH SOLE 2,105,815
C COR INC COM 125010108 5,931 865,864 SH SOLE 865,864
CALPINE CORP COM 131347106 16,232 4,774,171 SH SOLE 4,774,171
CHEVRON CORP NEW COM 166764100 5,433 97,161 SH SOLE 97,161
CHIRON CORP COM 170040109 10,046 287,937 SH SOLE 287,937
CIT GROUP INC COM 125581108 9,323 216,967 SH SOLE 216,967
CLEAN HARBORS INC COM 184496107 13,794 636,240 SH SOLE 636,240
CLEAR CHANNEL
COMMUNICATIONS COM 184502102 9,747 315,133 SH SOLE 315,133
COMCAST CORP NEW CL A 20030N101 8,606 280,585 SH SOLE 280,585
DEVELOPERS DIVERSIFIED
RLTY COM 251591103 13,667 297,376 SH SOLE 297,376
DYCOM INDS INC COM 267475101 7,471 377,118 SH SOLE 377,118
DYNEGY INC NEW CL A 26816Q101 12,086 2,486,761 SH SOLE 2,486,761
EASTGROUP PPTY INC COM 277276101 10,272 243,942 SH SOLE 243,942
EASTMAN KODAK CO COM 277461109 10,817 402,877 SH SOLE 402,877
ECHOSTAR
COMMUNICATIONS NEW CL A 278762109 10,924 362,196 SH SOLE 362,196
EQUITY RESIDENTIAL SH BEN INT 29476L107 7,433 201,862 SH SOLE 201,862
EXIDE TECHNOLOGIES COM NEW 302051206 1,285 265,000 SH SOLE 265,000
EXXON MOBIL CORP COM 30231G102 12,237 212,929 SH SOLE 212,929
FAMILY DLR STORES INC COM 307000109 7,178 275,000 SH SOLE 275,000
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 486 8,235 SH SOLE 8,235
GATX CORP COM 361448103 11,504 333,450 SH SOLE 333,450
GOLDMAN SACHS GROUP
INC COM 38141G104 10,502 102,940 SH SOLE 102,940
GRAMERCY CAP CORP COM 384871109 6,107 249,676 SH SOLE 249,676
HILTON HOTELS CORP COM 432848109 9,276 388,911 SH SOLE 388,911
HOST MARRIOTT CORP NEW COM 44107P104 7,877 450,112 SH SOLE 450,112
IMCLONE SYS INC COM 45245W109 8,335 269,141 SH SOLE 269,141
IRON MTN INC COM 462846106 9,343 301,182 SH SOLE 301,182
ISHARES INC MSCI AUSTRALIA 464286103 1,299 73,498 SH SOLE 73,498
ISHARES INC MSCI BELGIUM 464286301 233 12,969 SH SOLE 12,969
ISHARES INC MSCI SINGAPORE 464286673 255 33,739 SH SOLE 33,739
ISHARES INC MSCI UTD KINGD 464286699 6,101 339,492 SH SOLE 339,492
ISHARES INC MSCI FRANCE 464286707 2,061 85,725 SH SOLE 85,725
ISHARES INC MSCI SWITZERLD 464286749 1,518 91,331 SH SOLE 91,331
ISHARES INC MSCI SWEDEN 464286756 1,015 50,258 SH SOLE 50,258
ISHARES INC MSCI SPAIN 464286764 1,076 31,549 SH SOLE 31,549
ISHARES INC MSCI GERMAN 464286806 1,453 81,933 SH SOLE 81,933
ISHARES INC MSCI NETHERLND 464286814 1,120 59,958 SH SOLE 59,958
ISHARES INC MSCI JAPAN 464286848 4,741 467,581 SH SOLE 467,581
ISHARES INC MSCI ITALY 464286855 914 37,121 SH SOLE 37,121
ISHARES INC MSCI HONG KONG 464286871 836 67,290 SH SOLE 67,290
ISTAR FINL INC COM 45031U101 9,718 233,657 SH SOLE 233,657
JDS UNIPHASE CORP COM 46612J101 9,280 6,105,462 SH SOLE 6,105,462
JPMORGAN & CHASE & CO COM 46625H100 8,832 250,061 SH SOLE 250,061
KIMCO REALTY CORP COM 49446R109 12,315 209,048 SH SOLE 209,048
KNIGHT CAPITAL GROUP
INC CL A 499005106 6,872 901,863 SH SOLE 901,863
LEAPFROG ENTERPRISES
INC CL A 52186N106 4,301 380,603 SH SOLE 380,603
LUCENT TECHNOLOGIES
INC COM 549463107 12,476 4,287,457 SH SOLE 4,287,457
MACERICH CO COM 554382101 16,522 246,415 SH SOLE 246,415
MEDIMMUNE INC COM 584699102 10,157 380,120 SH SOLE 380,120
MERISTAR HOSPITALITY
CORP COM 58984Y103 9,231 1,073,417 SH SOLE 1,073,417
MILLENNIUM
PHARMACEUTICALS I COM 599902103 10,817 1,166,919 SH SOLE 1,166,919
MRV COMMUNICATIONS INC COM 553477100 5,772 2,659,731 SH SOLE 2,659,731
NEW YORK CMNTY
BANCORP INC COM 649445103 19,453 1,073,543 SH SOLE 1,073,543
PENNSYLVANIA RL
ESTATE INVT SH BEN INT 709102107 10,471 220,432 SH SOLE 220,432
PROCTER & GAMBLE CO COM 742718109 5,558 105,369 SH SOLE 105,369
PROLOGIS SH BEN INT 743410102 12,420 308,645 SH SOLE 308,645
PUBLIC STORAGE INC COM 74460D109 718 11,344 SH SOLE 11,344
RECKSON ASSOCS RLTY
CORP COM 75621K106 10,668 317,971 SH SOLE 317,971
REGENCY CTRS CORP COM 758849103 11,272 197,068 SH SOLE 197,068
RELIANT ENERGY INC COM 75952B105 9,634 778,225 SH SOLE 778,225
REVLON INC CL A 761525500 11,392 3,710,602 SH SOLE 3,710,602
SARA LEE CORP COM 803111103 9,035 456,069 SH SOLE 456,069
SHURGARD STORAGE CTRS
INC COM 82567D104 15,884 345,611 SH SOLE 345,611
SIMON PPTY GROUP INC
NEW COM 828806109 14,448 199,310 SH SOLE 199,310
SIX FLAGS INC COM 83001P109 5,860 1,260,274 SH SOLE 1,260,274
SL GREEN RLTY CORP COM 78440X101 12,830 198,916 SH SOLE 198,916
TELLABS INC COM 879664100 10,903 1,253,195 SH SOLE 1,253,195
UNOVA INC COM 91529B106 15,118 567,711 SH SOLE 567,711
VICOR CORP COM 925815102 7,333 539,200 SH SOLE 539,200
VORNADO RLTY TR SH BEN INT 929042109 13,594 169,078 SH SOLE 169,078
WAL MART STORES INC COM 931142103 5,439 112,846 SH SOLE 112,846
WELLS FARGO & CO NEW COM 949746101 4,348 70,610 SH SOLE 70,610
CANADIAN OPERATIONS - AMOUNTS SHOWN ARE IN U.S. DOLLARS
ABB Ltd COM 000375204 1,669 258,000 SH SOLE 258,000
Agco Corp COM 001084102 1,738 90,900 SH SOLE 90,900
Abbot Laboratories COM 002824100 44 900 SH SOLE 900
Aber Diamond
Corporation COM 002893105 598 19,600 SH SOLE 19,600
Abitibi-Consolidated
Inc COM 003924107 157 35,300 SH SOLE 35,300
Agrium Inc COM 008916108 333 17,100 SH SOLE 17,100
Ajinomoto COM 009707100 1,646 14,900 SH SOLE 14,900
Electrolux AB COM 010198208 2,321 54,300 SH SOLE 54,300
Alcan Inc COM 013716105 8,477 283,475 SH SOLE 283,475
Alcoa Inc COM 013817101 2,744 105,000 SH SOLE 105,000
Alliance Atlantis
Comm Inc COM 01853E204 253 10,800 SH SOLE 10,800
Altria Group COM 02209S103 2,289 35,400 SH SOLE 35,400
American Express Co COM 025816109 266 5,000 SH SOLE 5,000
American
International Group COM 026874107 3,335 57,400 SH SOLE 57,400
Amvescap PLC COM 03235E100 906 75,400 SH SOLE 75,400
Anglo American PLC COM 03485P102 89 3,800 SH SOLE 3,800
Angiotech
Pharmaceuticals Inc COM 034918102 409 29,800 SH SOLE 29,800
Apache Corporation COM 037411105 251 3,890 SH SOLE 3,890
Asahi Glass Co Ltd COM 043393206 1,522 14,300 SH SOLE 14,300
Astrazeneca PLC COM 046353108 91 2,200 SH SOLE 2,200
Avery Dennison Corp COM 053611109 1,546 29,200 SH SOLE 29,200
BCE Inc COM 05534B109 14,025 594,842 SH SOLE 594,842
BG Group COM 055434203 83 2,000 SH SOLE 2,000
BP PLC COM 055622104 3,562 57,100 SH SOLE 57,100
Bank of America Corp COM 060505104 64 1,400 SH SOLE 1,400
Bank of Montreal COM 063671101 8,737 188,439 SH SOLE 188,439
Bank of Nova Scotia COM 064149107 11,734 356,020 SH SOLE 356,020
Barclays PLC COM 06738E204 1,793 44,900 SH SOLE 44,900
Barrick Gold Corp COM 067901108 3,978 159,900 SH SOLE 159,900
Beckman Coulter Inc COM 075811109 114 1,800 SH SOLE 1,800
Bema Gold Corp COM 08135F107 126 53,300 SH SOLE 53,300
Boston Scientific COM 101137107 2,398 88,800 SH SOLE 88,800
Bowater Inc COM 102183100 159 4,900 SH SOLE 4,900
Brascan Corporation COM 10549P606 135 3,550 SH SOLE 3,550
Burlington North
Santa Fe COM 12189T104 1,605 34,100 SH SOLE 34,100
CAE Inc COM 124765108 2,424 453,900 SH SOLE 453,900
CHC Helicopter Corp COM 12541C203 120 6,200 SH SOLE 6,200
CIT Group Inc COM 125581108 69 1,600 SH SOLE 1,600
CVS Corp COM 126650100 70 2,400 SH SOLE 2,400
Cameco Corp COM 13321L108 364 8,200 SH SOLE 8,200
Cdn Imp Bank of
Commerce COM 136069101 5,841 94,790 SH SOLE 94,790
Cdn National Railways COM 136375102 9,198 160,060 SH SOLE 160,060
Canadian Nat
Resources Ltd COM 136385101 700 19,400 SH SOLE 19,400
Canadian Pacific
Railway COM 13645T100 5,090 147,688 SH SOLE 147,688
Canon Inc COM 138006309 2,432 46,200 SH SOLE 46,200
Capital One Fin Corp COM 14040H105 32 400 SH SOLE 400
Caterpillar Inc COM 149123101 143 1,500 SH SOLE 1,500
Cendant Corp COM 151313103 67 3,000 SH SOLE 3,000
Chevron Corp COM 166764100 56 1,000 SH SOLE 1,000
Citigroup Inc COM 172967101 5,737 124,100 SH SOLE 124,100
Clear Channel Comm COM 184502102 186 6,000 SH SOLE 6,000
Colgate Palmolive COM 194162103 2,585 51,800 SH SOLE 51,800
Cia De Minas
Buenaventur COM 204448104 177 7,700 SH SOLE 7,700
ConocoPhillips Inc COM 20825C104 138 2,400 SH SOLE 2,400
Corus Entertainment COM 220874101 216 8,500 SH SOLE 8,500
CP Ships Ltd COM 22409V102 4,382 280,000 SH SOLE 280,000
Datamirror Corporation COM 237926100 69 7,750 SH SOLE 7,750
John Deere & Co. COM 244199105 131 2,000 SH SOLE 2,000
Dell Inc COM 24702R101 237 6,000 SH SOLE 6,000
Diageo PLC COM 25243Q205 4,311 72,700 SH SOLE 72,700
Dollar General Corp COM 256669102 37 1,800 SH SOLE 1,800
Domtar Inc. COM 257561100 4,027 546,700 SH SOLE 546,700
Draxis Health Inc COM 26150J101 174 35,100 SH SOLE 35,100
Duke Energy
Corporation COM 264399106 4,106 138,100 SH SOLE 138,100
Embraer Empresa
Brasileira COM 29081M102 99 3,000 SH SOLE 3,000
EnCana Corporation COM 292505104 17,728 451,186 SH SOLE 451,186
Enbridge Inc COM 29250N105 2,518 88,600 SH SOLE 88,600
Ericsson (LM) Tel-SP
ADR COM 294821608 224 7,000 SH SOLE 7,000
Extendicare Inc COM 30224T871 54 3,700 SH SOLE 3,700
Exxon Mobil Corp COM 30231G102 287 5,000 SH SOLE 5,000
Fairmont Hotels COM 305204109 221 6,400 SH SOLE 6,400
Federal National Mtge
Assoc COM 313586109 1,291 22,100 SH SOLE 22,100
First Data Corp COM 319963104 438 10,924 SH SOLE 10,924
Fiserv Inc COM 337738108 34 800 SH SOLE 800
Fluor Corporation COM 343412102 1,722 29,900 SH SOLE 29,900
France Telecom
SA-Spons ADR COM 35177Q105 2,623 90,000 SH SOLE 90,000
Franklin Resources Inc COM 354613101 139 1,800 SH SOLE 1,800
Freeport McMoran
Copper COM 35671D857 423 11,300 SH SOLE 11,300
Freescale
Semiconductor - B COM 35687M206 138 6,500 SH SOLE 6,500
GSI Lumonics Inc COM 36229U102 63 6,800 SH SOLE 6,800
General Elec Co COM 369604103 1,223 35,300 SH SOLE 35,300
Gildan Activewear Inc COM 375916103 439 16,800 SH SOLE 16,800
Glamis Gold COM 376775102 176 10,300 SH SOLE 10,300
Glaxosmithkline Plc COM 37733W105 3,226 66,500 SH SOLE 66,500
Gold Fields Ltd COM 38059T106 2,716 239,300 SH SOLE 239,300
Goldcorp Inc COM 380956409 631 39,800 SH SOLE 39,800
Group CGI COM 39945C109 4,331 723,800 SH SOLE 723,800
HSBC Holdings Plc COM 404280406 1,673 21,000 SH SOLE 21,000
Halliburton Co COM 406216101 139 2,900 SH SOLE 2,900
HBOS PLC COM 42205M106 3,384 71,700 SH SOLE 71,700
Hewlett Packard Co COM 428236103 2,624 111,600 SH SOLE 111,600
Home Depot Inc COM 437076102 233 6,000 SH SOLE 6,000
Honeywell
International Inc COM 438516106 2,590 70,700 SH SOLE 70,700
Hoya Corporation COM 443251103 116 1,000 SH SOLE 1,000
Hydrogenics
Corporation COM 448882100 84 23,700 SH SOLE 23,700
Imperial Oil Ltd COM 453038408 5,342 64,400 SH SOLE 64,400
Inco Ltd COM 453258402 964 25,700 SH SOLE 25,700
Intel Corp COM 458140100 505 19,400 SH SOLE 19,400
I B M Corp COM 459200101 33 450 SH SOLE 450
Intuit Inc COM 461202103 122 2,700 SH SOLE 2,700
Ishares COM 464286608 676 9,500 SH SOLE 9,500
Ishares COM 464286665 1,120 11,900 SH SOLE 11,900
Ishares COM 464286699 1,941 108,000 SH SOLE 108,000
Ishares COM 464286707 2,457 102,200 SH SOLE 102,200
Ishares COM 464286806 523 29,500 SH SOLE 29,500
Ishares COM 464286822 1,089 40,200 SH SOLE 40,200
Ishares COM 464286848 8,710 859,000 SH SOLE 859,000
Ishares Tr COM 464287465 184,865 3,528,623 SH SOLE 3,528,623
Johnson & Johnson COM 478160104 1,981 30,474 SH SOLE 30,474
Johnson Matthey PLC COM 479142309 2,668 68,400 SH SOLE 68,400
Jones Apparel Group COM 480074103 45 1,450 SH SOLE 1,450
Kimberly Clark COM 494368103 36 575 SH SOLE 575
Kohls Corporation COM 500255104 157 2,800 SH SOLE 2,800
Estee Lauder COM 518439104 247 6,300 SH SOLE 6,300
LEXMARK INTERNATIONAL
INC COM 529771107 32 500 SH SOLE 500
Lilly (Eli) and Co COM 532457108 880 15,800 SH SOLE 15,800
Lincoln National Corp COM 534187109 41 870 SH SOLE 870
Lowe's Cos Inc COM 548661107 41 700 SH SOLE 700
Mbna corp COM 55262L100 46 1,750 SH SOLE 1,750
MDS Inc COM 55269P302 6,231 416,300 SH SOLE 416,300
Magna International
Inc COM 559222401 7,571 108,204 SH SOLE 108,204
Manulife Financial
Corp COM 56501R106 203 4,242 SH SOLE 4,242
Manulife Financial
Corp COM 56501R106 12,430 261,300 SH SOLE 261,300
Masco Corp COM 574599106 35 1,100 SH SOLE 1,100
Methanex Corp COM 59151K108 237 14,500 SH SOLE 14,500
Microsoft Corp COM 594918104 3,656 147,182 SH SOLE 147,182
Morgan Stanley Co COM 617446448 2,377 45,300 SH SOLE 45,300
Motorola Inc COM 620076109 1,068 58,500 SH SOLE 58,500
Nasdaq 100 COM 631100104 10,899 296,000 SH SOLE 296,000
National Grid Transco
PLC COM 636274102 3,965 81,300 SH SOLE 81,300
Navistar
International Corp COM 63934E108 125 3,900 SH SOLE 3,900
Neurochem Inc COM 64125K101 167 16,700 SH SOLE 16,700
Nippon Tel & Tel Co COM 654624105 4,949 230,500 SH SOLE 230,500
Nokia Corp COM 654902204 166 10,000 SH SOLE 10,000
Nomura Holdings Inc COM 65535H208 2,940 246,000 SH SOLE 246,000
Noranda Inc COM 655422103 911 53,300 SH SOLE 53,300
Nortel Networks Corp COM 656568102 2,501 964,400 SH SOLE 964,400
North Am Palladium COM 656912102 89 18,100 SH SOLE 18,100
North Fork
Bancorporation COM 659424105 59 2,100 SH SOLE 2,100
Northgate Minerals
Corp COM 666416102 89 82,100 SH SOLE 82,100
Nova Chemicals Corp COM 66977W109 2,451 80,600 SH SOLE 80,600
Novartis AG COM 66987V109 1,044 22,000 SH SOLE 22,000
Novelis Inc COM 67000X106 4,007 158,615 SH SOLE 158,615
Oracle Systems Corp COM 68389X105 121 9,156 SH SOLE 9,156
PPG Industries COM 693506107 188 3,000 SH SOLE 3,000
Pepsico Inc COM 713448108 194 3,600 SH SOLE 3,600
Petro Canada Limited COM 71644E102 794 12,250 SH SOLE 12,250
Petsmart Inc COM 716768106 134 4,400 SH SOLE 4,400
Pfizer Inc COM 717081103 6,016 218,112 SH SOLE 218,112
Phelps Dodge Corp COM 717265102 472 5,100 SH SOLE 5,100
Placer Dome Inc COM 725906101 8,636 566,500 SH SOLE 566,500
Potash Corp of Sask
Inc COM 73755L107 399 4,200 SH SOLE 4,200
Precision Drilling
Corp COM 74022D100 326 8,300 SH SOLE 8,300
Procter & Gamble Co COM 742718109 211 4,000 SH SOLE 4,000
Prudential Financial
Inc COM 744320102 2,521 38,400 SH SOLE 38,400
PULTE HOMES INC COM 745867101 29 350 SH SOLE 350
QLT Inc COM 746927102 212 20,600 SH SOLE 20,600
Quebecor World Inc COM 748203106 2,066 105,900 SH SOLE 105,900
Reed Elsevier NV COM 758204101 1,740 62,400 SH SOLE 62,400
Research In Motion COM 760975102 938 12,800 SH SOLE 12,800
Rexam plc COM 761655406 2,215 50,500 SH SOLE 50,500
Rogers Communication
Class B COM 775109200 435 13,300 SH SOLE 13,300
Royal Bank of Canada COM 780087102 17,448 282,748 SH SOLE 282,748
SBC Communications COM 78387G103 4,914 206,900 SH SOLE 206,900
SPDR Trust COM 78462F103 356,437 2,990,743 SH SOLE 2,990,743
SPX Corp COM 784635104 60 1,300 SH SOLE 1,300
SAP Aktiengesellschaft COM 803054204 87 2,000 SH SOLE 2,000
Schlumberger Ltd COM 806857108 258 3,400 SH SOLE 3,400
Select Sector SPDR COM 81369Y308 4,141 182,000 SH SOLE 182,000
Select Sector SPDR COM 81369Y506 2,600 58,500 SH SOLE 58,500
Siemens AG COM 826197501 2,361 32,500 SH SOLE 32,500
Sierra Wireless Inc COM 826516106 126 17,200 SH SOLE 17,200
Smurfit Stone
Container COM 832727101 41 4,000 SH SOLE 4,000
Statoil ASA COM 85771P102 1,216 59,900 SH SOLE 59,900
Sun Life Financial Inc COM 866796105 899 26,800 SH SOLE 26,800
Suncor Energy Inc COM 867229106 1,430 30,365 SH SOLE 30,365
TLC Vision Corp COM 872549100 81 10,200 SH SOLE 10,200
Talisman Energy Inc COM 87425E103 1,892 50,700 SH SOLE 50,700
Telus Corp COM 87971M202 1,250 36,796 SH SOLE 36,796
Tesco Corp COM 88157K101 248 22,500 SH SOLE 22,500
Thomson Corp COM 884903105 402 12,068 SH SOLE 12,068
3M Company COM 88579Y101 166 2,300 SH SOLE 2,300
Timberland Company COM 887100105 132 3,400 SH SOLE 3,400
Time Warner Inc COM 887317105 851 50,900 SH SOLE 50,900
Tomkins PLC COM 890030208 3,146 165,400 SH SOLE 165,400
Toronto Dominion Bank COM 891160509 6,068 136,600 SH SOLE 136,600
Total SA COM 89151E109 105 900 SH SOLE 900
Toyota Motor
Corporation COM 892331307 3,253 45,500 SH SOLE 45,500
TransAlta Corp COM 89346D107 3,774 227,200 SH SOLE 227,200
TransCanada Corp COM 89353D107 10,718 408,925 SH SOLE 408,925
Tribune Co COM 896047107 28 800
Tyco Intl Ltd COM 902124106 4,003 137,100
United Technologies
Corp COM 913017109 2,424 47,200
UPM Kymmene
Corporation COM 915436109 2,274 118,600
Valero Energy Corp COM 91913Y100 1,044 13,200
Vasogen Inc COM 92232F103 116 23,800
Verizon Comm COM 92343V104 3,192 92,400
Viacom Inc COM 925524308 3,852 120,300
Vodafone Group Plc COM 92857W100 283 11,650
Volvo AB COM 928856400 1,661 41,000
WPP Group PLC COM 929309300 204 4,000
Wal Mart Stores Inc COM 931142103 2,010 41,700
Walmart De Mexico COM 93114W107 106 2,600
Wellpoint Inc COM 94973V107 45 650
Wendys International
Inc COM 950590109 2,907 61,000
Westwood One COM 961815107 26 1,250
Wyeth COM 983024100 2,626 59,000
Yamana Gold Inc COM 98462Y100 44 12,200
Deutsche Bank AG COM D18190898 1,137 14,600
Amdocs Ltd COM G02602103 106 4,000
Noble Corp COM G65422100 62 1,000
Transocean Inc COM G90078109 302 5,600
UBS AG COM H8920M855 1,814 23,300
Check Point Software
Tech Ltd COM M22465104 1,590 80,200
ASML Holding NV COM N07059111 141 9,000
1,685,566