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
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 5,726 35,000 SH   SOLE N/A 0 0 35,000
ADOBE SYS INC COM 00724F101 5,608 23,000 SH   SOLE N/A 0 0 23,000
AERCAP HOLDINGS NV SHS N00985106 85 1,200 SH   DFND N/A 0 0 1,200
AERCAP HOLDINGS NV SHS N00985106 4,034 74,500 SH   SOLE N/A 0 0 74,500
ALPHABET INC CAP STK CL A 02079K305 7,001 6,200 SH   SOLE N/A 0 0 6,200
ALPHABET INC CAP STK CL C 02079K107 3,146 2,145 SH   DFND N/A 0 0 2,145
APTIV PLC SHS G6095L109 2,822 30,800 SH   SOLE N/A 0 0 30,800
BERRY GLOBAL GROUP INC COM 08579W103 2,577 56,100 SH   SOLE N/A 0 0 56,100
BLACKROCK INC COM 09247X101 3,094 6,200 SH   SOLE N/A 0 0 6,200
BOSTON SCIENTIFIC CORP COM 101137107 3,270 100,000 SH   SOLE N/A 0 0 100,000
BRISTOL MYERS SQUIBB CO COM 110122108 2,048 37,000 SH   SOLE N/A 0 0 37,000
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 7,146 134,000 SH   SOLE N/A 0 0 134,000
BROOKFIELD PPTY PARTNERS L P UNIT LTD PARTN G16249107 2,996 120,000 SH   SOLE N/A 0 0 120,000
CANADIAN NAT RES LTD COM 136385101 13,798 290,800 SH   SOLE N/A 0 0 290,800
CANADIAN NATL RY CO COM 136375102 9,742 90,600 SH   SOLE N/A 0 0 90,600
CARLISLE COS INC COM 142339100 3,249 30,000 SH   SOLE N/A 0 0 30,000
CARNIVAL CORP UNIT 99/99/9999 143658300 3,439 60,000 SH   SOLE N/A 0 0 60,000
CDN IMPERIAL BK COMM TORONTO COM 136069101 11,505 100,600 SH   SOLE N/A 0 0 100,600
CITIGROUP INC COM NEW 172967424 3,026 34,398 SH   DFND N/A 0 0 34,398
CITIGROUP INC COM NEW 172967424 9,690 144,800 SH   SOLE N/A 0 0 144,800
CLOROX CO DEL COM 189054109 3,627 20,400 SH   DFND N/A 0 0 20,400
COCA COLA CO COM 191216100 2,225 38,589 SH   DFND N/A 0 0 38,589
COMCAST CORP NEW CL A 20030N101 3,740 114,000 SH   SOLE N/A 0 0 114,000
CONAGRA BRANDS INC COM 205887102 2,546 54,200 SH   DFND N/A 0 0 54,200
CONSTELLATION BRANDS INC CL A 21036P108 1,970 9,000 SH   SOLE N/A 0 0 9,000
COSTCO WHSL CORP NEW COM 22160K105 3,762 18,000 SH   SOLE N/A 0 0 18,000
COTT CORP QUE COM 22163N106 2,367 108,700 SH   SOLE N/A 0 0 108,700
CROWN CASTLE INTL CORP NEW COM 22822V101 5,068 47,000 SH   SOLE N/A 0 0 47,000
DAVE & BUSTERS ENTMT INC COM 238337109 2,856 60,000 SH   SOLE N/A 0 0 60,000
DELPHI TECHNOLOGIES PLC SHS G2709G107 1,818 40,000 SH   SOLE N/A 0 0 40,000
DOLLAR TREE INC COM 256746108 3,400 40,000 SH   SOLE N/A 0 0 40,000
DOWDUPONT INC COM 26078J100 4,293 65,126 SH   SOLE N/A 0 0 65,126
ECOLAB INC COM 278865100 2,817 15,269 SH   DFND N/A 0 0 15,269
ENBRIDGE INC COM 29250N105 12,526 266,500 SH   SOLE N/A 0 0 266,500
EOG RES INC COM 26875P101 4,479 36,000 SH   SOLE N/A 0 0 36,000
FACEBOOK INC CL A 30303M102 3,422 13,395 SH   DFND N/A 0 0 13,395
FIRST REP BK SAN FRANCISCO C COM 33616C100 1,871 14,701 SH   DFND N/A 0 0 14,701
FRANKLIN RES INC COM 354613101 7,211 225,000 SH   SOLE N/A 0 0 225,000
GENERAL MLS INC COM 370334104 2,671 45,900 SH   DFND N/A 0 0 45,900
GGP INC COM 36174X101 6,866 270,000 SH   SOLE N/A 0 0 270,000
GILDAN ACTIVEWEAR INC COM 375916103 6,369 172,000 SH   SOLE N/A 0 0 172,000
HCA HEALTHCARE INC COM 40412C101 3,591 35,000 SH   SOLE N/A 0 0 35,000
HDFC BANK LTD ADR REPS 3 SHS 40415F101 6,990 50,631 SH   DFND N/A 0 0 50,631
HOME DEPOT INC COM 437076102 3,317 17,000 SH   SOLE N/A 0 0 17,000
HOME DEPOT INC COM 437076102 3,911 15,249 SH   DFND N/A 0 0 15,249
HORMEL FOODS CORP COM 440452100 3,723 76,100 SH   DFND N/A 0 0 76,100
HP INC COM 40434L105 2,991 131,800 SH   SOLE N/A 0 0 131,800
ISHARES TR IBOXX HI YD ETF 464288513 8,508 100,000 SH Put SOLE N/A 0 0 100,000
JPMORGAN CHASE & CO COM 46625H100 7,190 69,000 SH   SOLE N/A 0 0 69,000
KIMBERLY CLARK CORP COM 494368103 3,282 23,700 SH   DFND N/A 0 0 23,700
L BRANDS INC COM 501797104 9,589 260,000 SH   SOLE N/A 0 0 260,000
L3 TECHNOLOGIES INC COM 502413107 5,673 29,500 SH   SOLE N/A 0 0 29,500
LAMB WESTON HLDGS INC COM 513272104 850 9,433 SH   DFND N/A 0 0 9,433
LAUDER ESTEE COS INC CL A 518439104 2,568 18,000 SH   SOLE N/A 0 0 18,000
LOWES COS INC COM 548661107 1,911 20,000 SH   SOLE N/A 0 0 20,000
LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 1,977 18,000 SH   SOLE N/A 0 0 18,000
M & T BK CORP COM 55261F104 7,487 44,000 SH   SOLE N/A 0 0 44,000
MANULIFE FINL CORP COM 56501R106 12,408 525,300 SH   SOLE N/A 0 0 525,300
MEDTRONIC PLC SHS G5960L103 5,105 59,636 SH   SOLE N/A 0 0 59,636
MERCK & CO INC COM 58933Y105 2,450 30,700 SH   DFND N/A 0 0 30,700
MERCK & CO INC COM 58933Y105 3,339 55,000 SH   SOLE N/A 0 0 55,000
MICROSOFT CORP COM 594918104 804 6,200 SH   DFND N/A 0 0 6,200
MICROSOFT CORP COM 594918104 9,068 91,960 SH   SOLE N/A 0 0 91,960
MOHAWK INDS INC COM 608190104 2,143 10,000 SH   SOLE N/A 0 0 10,000
MONDELEZ INTL INC CL A 609207105 803 14,900 SH   DFND N/A 0 0 14,900
NEWELL BRANDS INC COM 651229106 2,992 116,000 SH   SOLE N/A 0 0 116,000
NEXTERA ENERGY INC COM 65339F101 4,677 28,000 SH   SOLE N/A 0 0 28,000
NUTRIEN LTD COM 67077M108 6,508 91,000 SH   SOLE N/A 0 0 91,000
NVIDIA CORP COM 67066G104 3,080 13,000 SH   SOLE N/A 0 0 13,000
PFIZER INC COM 717081103 2,399 50,300 SH   DFND N/A 0 0 50,300
PFIZER INC COM 717081103 3,265 90,000 SH   SOLE N/A 0 0 90,000
PHILIP MORRIS INTL INC COM 718172109 2,528 23,818 SH   DFND N/A 0 0 23,818
ROYAL BK CDA MONTREAL QUE COM 780087102 21,064 212,790 SH   SOLE N/A 0 0 212,790
SHAW COMMUNICATIONS INC CL B CONV 82028K200 5,972 223,000 SH   SOLE N/A 0 0 223,000
SHERWIN WILLIAMS CO COM 824348106 3,383 8,300 SH   SOLE N/A 0 0 8,300
SPROTT PHYSICAL GOLD & SILVE TR UNIT 85208R101 5,362 325,000 SH   SOLE N/A 0 0 325,000
STANTEC INC COM 85472N109 1,961 58,000 SH   SOLE N/A 0 0 58,000
SUN LIFE FINL INC COM 866796105 11,813 223,600 SH   SOLE N/A 0 0 223,600
SUNCOR ENERGY INC NEW COM 867224107 10,518 196,600 SH   SOLE N/A 0 0 196,600
SYNCHRONY FINL COM 87165B103 2,504 75,000 SH   SOLE N/A 0 0 75,000
TECK RESOURCES LTD CL B 878742204 6,731 201,000 SH   SOLE N/A 0 0 201,000
TEMPLETON GLOBAL INCOME FD COM 880198106 16,104 1,995,000 SH   SOLE N/A 0 0 1,995,000
THERMO FISHER SCIENTIFIC INC COM 883556102 2,648 9,723 SH   DFND N/A 0 0 9,723
THERMO FISHER SCIENTIFIC INC COM 883556102 3,521 17,000 SH   SOLE N/A 0 0 17,000
TORONTO DOMINION BK ONT COM NEW 891160509 26,145 343,600 SH   SOLE N/A 0 0 343,600
TRANSCANADA CORP COM 89353D107 9,560 168,070 SH   SOLE N/A 0 0 168,070
UNION PAC CORP COM 907818108 5,356 37,800 SH   SOLE N/A 0 0 37,800
UNITEDHEALTH GROUP INC COM 91324P102 5,152 21,000 SH   SOLE N/A 0 0 21,000
US BANCORP DEL COM NEW 902973304 2,551 51,000 SH   SOLE N/A 0 0 51,000
VALERO ENERGY CORP NEW COM 91913Y100 3,624 32,700 SH   SOLE N/A 0 0 32,700
VERMILION ENERGY INC COM 923725105 3,414 72,000 SH   SOLE N/A 0 0 72,000
VISA INC COM CL A 92826C839 6,755 51,000 SH   SOLE N/A 0 0 51,000
VISA INC COM CL A 92826C839 7,222 41,473 SH   DFND N/A 0 0 41,473
VULCAN MATLS CO COM 929160109 4,517 35,000 SH   SOLE N/A 0 0 35,000
WALMART INC COM 931142103 3,854 45,000 SH   SOLE N/A 0 0 45,000
WASTE MGMT INC DEL COM 94106L109 1,101 10,300 SH   DFND N/A 0 0 10,300
WASTE MGMT INC DEL COM 94106L109 3,416 42,000 SH   SOLE N/A 0 0 42,000
WELLS FARGO CO NEW COM 949746101 2,074 28,457 SH   DFND N/A 0 0 28,457
WELLS FARGO CO NEW COM 949746101 2,107 38,000 SH   SOLE N/A 0 0 38,000
WESTROCK CO COM 96145D105 2,566 45,000 SH   SOLE N/A 0 0 45,000
WEYERHAEUSER CO COM 962166104 3,281 90,000 SH   SOLE N/A 0 0 90,000
XYLEM INC COM 98419M100 3,032 45,000 SH   SOLE N/A 0 0 45,000
ZIMMER BIOMET HLDGS INC COM 98956P102 2,563 23,000 SH   SOLE N/A 0 0 23,000