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 5,957 35,000 SH   SOLE N/A 0 0 35,000
ACTIVISION BLIZZARD INC COM 00507V109 4,492 54,000 SH   SOLE N/A 0 0 54,000
ADOBE SYS INC COM 00724F101 4,319 16,000 SH   SOLE N/A 0 0 16,000
AERCAP HOLDINGS NV SHS N00985106 4,285 74,500 SH   SOLE N/A 0 0 74,500
ALPHABET INC CAP STK CL A 02079K305 8,087 6,700 SH   SOLE N/A 0 0 6,700
ALPHABET INC CAP STK CL C 02079K107 2,869 1,861 SH   DFND N/A 0 0 1,861
AMAZON COM INC COM 023135106 3,899 1,507 SH   DFND N/A 0 0 1,507
AMERICAN INTL GROUP INC COM NEW 026874784 4,099 77,000 SH   SOLE N/A 0 0 77,000
APPLE INC COM 037833100 5,779 25,600 SH   SOLE N/A 0 0 25,600
APTIV PLC SHS G6095L109 2,584 30,800 SH   SOLE N/A 0 0 30,800
BANK AMER CORP COM 060505104 6,010 204,000 SH   SOLE N/A 0 0 204,000
BANK N S HALIFAX COM 064149107 13,204 171,500 SH   SOLE N/A 0 0 171,500
BERRY GLOBAL GROUP INC COM 08579W103 2,715 56,100 SH   SOLE N/A 0 0 56,100
BLACKROCK INC COM 09247X101 1,885 4,000 SH   SOLE N/A 0 0 4,000
BOEING CO COM 097023105 3,161 8,500 SH   SOLE N/A 0 0 8,500
BOSTON SCIENTIFIC CORP COM 101137107 4,235 110,000 SH   SOLE N/A 0 0 110,000
BRISTOL MYERS SQUIBB CO COM 110122108 3,973 64,000 SH   SOLE N/A 0 0 64,000
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 8,451 147,000 SH   SOLE N/A 0 0 147,000
BROOKFIELD PPTY PARTNERS L P UNIT LTD PARTN G16249107 5,374 198,960 SH   SOLE N/A 0 0 198,960
CANADIAN NAT RES LTD COM 136385101 16,703 395,800 SH   SOLE N/A 0 0 395,800
CANADIAN NATL RY CO COM 136375102 10,498 90,600 SH   SOLE N/A 0 0 90,600
CARNIVAL CORP UNIT 99/99/9999 143658300 5,293 83,000 SH   SOLE N/A 0 0 83,000
CDN IMPERIAL BK COMM TORONTO COM 136069101 11,570 95,600 SH   SOLE N/A 0 0 95,600
CHEESECAKE FACTORY INC COM 163072101 2,945 55,000 SH   SOLE N/A 0 0 55,000
CITIGROUP INC COM NEW 172967424 1,952 21,065 SH   DFND N/A 0 0 21,065
CITIGROUP INC COM NEW 172967424 6,313 88,000 SH   SOLE N/A 0 0 88,000
CLOROX CO DEL COM 189054109 4,022 20,700 SH   DFND N/A 0 0 20,700
COCA COLA CO COM 191216100 1,991 33,367 SH   DFND N/A 0 0 33,367
COMCAST CORP NEW CL A 20030N101 4,037 114,000 SH   SOLE N/A 0 0 114,000
CONAGRA BRANDS INC COM 205887102 2,887 65,800 SH   DFND N/A 0 0 65,800
COSTCO WHSL CORP NEW COM 22160K105 5,167 22,000 SH   SOLE N/A 0 0 22,000
COTT CORP QUE COM 22163N106 1,043 50,000 SH   SOLE N/A 0 0 50,000
CROWN CASTLE INTL CORP NEW COM 22822V101 5,233 47,000 SH   SOLE N/A 0 0 47,000
DELPHI TECHNOLOGIES PLC SHS G2709G107 6,335 202,000 SH   SOLE N/A 0 0 202,000
DOWDUPONT INC COM 26078J100 4,510 70,126 SH   SOLE N/A 0 0 70,126
ECOLAB INC COM 278865100 2,687 13,269 SH   DFND N/A 0 0 13,269
ENBRIDGE INC COM 29250N105 11,129 266,500 SH   SOLE N/A 0 0 266,500
EOG RES INC COM 26875P101 4,593 36,000 SH   SOLE N/A 0 0 36,000
EXXON MOBIL CORP COM 30231G102 2,246 20,447 SH   DFND N/A 0 0 20,447
FACEBOOK INC CL A 30303M102 2,445 11,510 SH   DFND N/A 0 0 11,510
FEDEX CORP COM 31428X106 4,816 20,000 SH   SOLE N/A 0 0 20,000
FIRST REP BK SAN FRANCISCO C COM 33616C100 1,568 12,641 SH   DFND N/A 0 0 12,641
FRANKLIN RES INC COM 354613101 8,226 270,500 SH   SOLE N/A 0 0 270,500
GENERAL MLS INC COM 370334104 3,975 71,700 SH   DFND N/A 0 0 71,700
GILDAN ACTIVEWEAR INC COM 375916103 6,760 172,000 SH   SOLE N/A 0 0 172,000
HCA HEALTHCARE INC COM 40412C101 2,365 17,000 SH   SOLE N/A 0 0 17,000
HDFC BANK LTD ADR REPS 3 SHS 40415F101 4,890 40,228 SH   DFND N/A 0 0 40,228
HOME DEPOT INC COM 437076102 3,540 13,230 SH   DFND N/A 0 0 13,230
HOME DEPOT INC COM 437076102 5,800 28,000 SH   SOLE N/A 0 0 28,000
HORMEL FOODS CORP COM 440452100 3,354 65,900 SH   DFND N/A 0 0 65,900
HP INC COM 40434L105 3,345 129,800 SH   SOLE N/A 0 0 129,800
ISHARES TR IBOXX HI YD ETF 464288513 8,644 100,000 SH Put SOLE N/A 0 0 100,000
JPMORGAN CHASE & CO COM 46625H100 7,786 69,000 SH   SOLE N/A 0 0 69,000
KIMBERLY CLARK CORP COM 494368103 4,404 30,000 SH   DFND N/A 0 0 30,000
L BRANDS INC COM 501797104 7,878 260,000 SH   SOLE N/A 0 0 260,000
L3 TECHNOLOGIES INC COM 502413107 6,272 29,500 SH   SOLE N/A 0 0 29,500
LAMB WESTON HLDGS INC COM 513272104 889 10,333 SH   DFND N/A 0 0 10,333
LAUDER ESTEE COS INC CL A 518439104 3,488 24,000 SH   SOLE N/A 0 0 24,000
LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 1,845 18,000 SH   SOLE N/A 0 0 18,000
M & T BK CORP COM 55261F104 7,898 48,000 SH   SOLE N/A 0 0 48,000
MAGNA INTL INC COM 559222401 6,446 95,000 SH   SOLE N/A 0 0 95,000
MANULIFE FINL CORP COM 56501R106 12,129 525,300 SH   SOLE N/A 0 0 525,300
MEDTRONIC PLC SHS G5960L103 6,457 65,636 SH   SOLE N/A 0 0 65,636
MERCK & CO INC COM 58933Y105 3,519 38,400 SH   DFND N/A 0 0 38,400
MERCK & CO INC COM 58933Y105 3,973 56,000 SH   SOLE N/A 0 0 56,000
MICROSOFT CORP COM 594918104 10,517 91,960 SH   SOLE N/A 0 0 91,960
MOGO FIN TECHNOLOGY INC COM 608008108 588 147,341 SH   SOLE N/A 0 0 147,341
MOLSON COORS BREWING CO CL B 60871R209 1,845 30,000 SH   SOLE N/A 0 0 30,000
MONDELEZ INTL INC CL A 609207105 1,221 22,000 SH   DFND N/A 0 0 22,000
NEWELL BRANDS INC COM 651229106 3,106 153,000 SH   SOLE N/A 0 0 153,000
NEXTERA ENERGY INC COM 65339F101 5,196 31,000 SH   SOLE N/A 0 0 31,000
NUTRIEN LTD COM 67077M108 8,278 111,000 SH   SOLE N/A 0 0 111,000
NVIDIA CORP COM 67066G104 3,653 13,000 SH   SOLE N/A 0 0 13,000
PFIZER INC COM 717081103 3,695 64,900 SH   DFND N/A 0 0 64,900
PFIZER INC COM 717081103 4,627 105,000 SH   SOLE N/A 0 0 105,000
PROCTER AND GAMBLE CO COM 742718109 1,488 13,839 SH   DFND N/A 0 0 13,839
PROCTER AND GAMBLE CO COM 742718109 6,159 74,000 SH   SOLE N/A 0 0 74,000
ROYAL BK CDA MONTREAL QUE COM 780087102 22,032 212,790 SH   SOLE N/A 0 0 212,790
SHAW COMMUNICATIONS INC CL B CONV 82028K200 6,871 273,000 SH   SOLE N/A 0 0 273,000
SHERWIN WILLIAMS CO COM 824348106 3,778 8,300 SH   SOLE N/A 0 0 8,300
SPROTT PHYSICAL GOLD & SILVE TR UNIT 85208R101 5,436 360,000 SH   SOLE N/A 0 0 360,000
STANTEC INC COM 85472N109 1,864 58,000 SH   SOLE N/A 0 0 58,000
SUN LIFE FINL INC COM 866796105 13,330 259,600 SH   SOLE N/A 0 0 259,600
SUNCOR ENERGY INC NEW COM 867224107 11,325 226,600 SH   SOLE N/A 0 0 226,600
SYNCHRONY FINL COM 87165B103 5,128 165,000 SH   SOLE N/A 0 0 165,000
TECK RESOURCES LTD CL B 878742204 7,565 243,000 SH   SOLE N/A 0 0 243,000
TEMPLETON GLOBAL INCOME FD COM 880198106 15,771 1,995,000 SH   SOLE N/A 0 0 1,995,000
THERMO FISHER SCIENTIFIC INC COM 883556102 2,659 8,435 SH   DFND N/A 0 0 8,435
THERMO FISHER SCIENTIFIC INC COM 883556102 4,882 20,000 SH   SOLE N/A 0 0 20,000
TORONTO DOMINION BK ONT COM NEW 891160509 26,027 331,600 SH   SOLE N/A 0 0 331,600
TRANSCANADA CORP COM 89353D107 8,783 168,070 SH   SOLE N/A 0 0 168,070
UNION PAC CORP COM 907818108 6,155 37,800 SH   SOLE N/A 0 0 37,800
UNITEDHEALTH GROUP INC COM 91324P102 5,587 21,000 SH   SOLE N/A 0 0 21,000
VALERO ENERGY CORP NEW COM 91913Y100 8,270 72,700 SH   SOLE N/A 0 0 72,700
VISA INC COM CL A 92826C839 6,603 34,058 SH   DFND N/A 0 0 34,058
VISA INC COM CL A 92826C839 7,655 51,000 SH   SOLE N/A 0 0 51,000
VULCAN MATLS CO COM 929160109 3,892 35,000 SH   SOLE N/A 0 0 35,000
WASTE MGMT INC DEL COM 94106L109 1,202 10,300 SH   DFND N/A 0 0 10,300
WASTE MGMT INC DEL COM 94106L109 3,795 42,000 SH   SOLE N/A 0 0 42,000
WELLS FARGO CO NEW COM 949746101 1,676 24,689 SH   DFND N/A 0 0 24,689
WELLS FARGO CO NEW COM 949746101 3,416 65,000 SH   SOLE N/A 0 0 65,000
WESTROCK CO COM 96145D105 2,405 45,000 SH   SOLE N/A 0 0 45,000
WEYERHAEUSER CO COM 962166104 2,904 90,000 SH   SOLE N/A 0 0 90,000
XYLEM INC COM 98419M100 3,594 45,000 SH   SOLE N/A 0 0 45,000