UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: September 30, 2003
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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 Assurance Company of Canada
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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: Claude Accum
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Title: Vice-President, Risk Management
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Phone: 416-979-6188
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Signature, Place, and Date of Signing:
/s/ Claude Accum Ontario, Canada 8-15-2002
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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: 389
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Form 13F Information Table Value Total: $ 1,415,121
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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 - SEPTEMBER 30, 2003
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
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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 SHARED NONE
------------------------- -------------- --------- -------- --------- --- ---- ---------- -------- --------- ------ ----
U.S. OPERATIONS - AMOUNTS SHOWN ARE IN U.S. DOLLARS
AMR Corp COM 001765106 377 32,953 SH SOLE 32,953
AOL Time Warner Inc COM 00184A105 6,231 412,391 SH SOLE 412,391
Agere Systems Inc CL B 00845V209 3,707 1,282,575 SH SOLE 1,282,575
Allegheny Energy Inc COM 017361106 6,978 763,417 SH SOLE 763,417
Allmerica Financial Corp COM 019754100 3,855 161,890 SH SOLE 161,890
American International Group COM 026874107 4,702 81,490 SH SOLE 81,490
Anadarko Petroleum Corp COM 032511107 6,214 148,814 SH SOLE 148,814
Annaly Mortgage Management COM 035710409 16,369 996,874 SH SOLE 996,874
Archer Daniels Midland Co COM 039483102 6,886 525,243 SH SOLE 525,243
Archstone-Smith Trust COM 039583109 6,515 246,969 SH SOLE 246,969
AvalonBay Communities Inc. COM 053484101 7,101 151,738 SH SOLE 151,738
BRE Properties Inc CL A 05564E106 6,385 193,599 SH SOLE 193,599
BMC Software Inc COM 055921100 6,732 483,300 SH SOLE 483,300
Baxter International Inc COM 071813109 6,970 239,853 SH SOLE 239,853
Boeing Company COM 097023105 6,483 188,857 SH SOLE 188,857
Boston Properties Inc COM 101121101 8,147 187,426 SH SOLE 187,426
Bristol-Myers Squibb COM 110122108 6,670 259,927 SH SOLE 259,927
CBL & Associates Properties COM 124830100 7,103 142,346 SH SOLE 142,346
CSG Systems Intl Inc COM 126349109 3,964 267,626 SH SOLE 267,626
Calpine Corp COM 131347106 3,668 750,000 SH SOLE 750,000
Centerpoint Properties Trust SH BEN INT 151895109 6,344 93,141 SH SOLE 93,141
Citigroup Inc COM 172967101 8,455 185,792 SH SOLE 185,792
Clean Harbors Inc COM 184496107 2,763 650,000 SH SOLE 650,000
Comcast Corp CLA 20030N101 4,454 144,521 SH SOLE 144,521
Concord Communications Inc COM 206186108 5,232 401,215 SH SOLE 401,215
Developers Diversified Realty COM 251591103 4,840 162,022 SH SOLE 162,022
Dillards Inc CL A 254067101 12,774 913,735 SH SOLE 913,735
Dow Chemical Company COM 260543103 5,968 183,411 SH SOLE 183,411
Duke Realty Corp COM NEW 264411505 6,628 226,973 SH SOLE 226,973
Emerson Electric Co COM 291011104 6,621 125,750 SH SOLE 125,750
Engelhard Corp COM 292845104 6,386 230,808 SH SOLE 230,808
Entravision Communication Cl A CL A 29382R107 3,439 362,052 SH SOLE 362,052
Equity Office Properties Trust COM 294741103 4,114 149,435 SH SOLE 149,435
Equity Residential Properties SH BEN INT 29476L107 4,321 147,577 SH SOLE 147,577
Federal Realty Investment Tr SH BEN INT NEW 313747206 6,462 175,314 SH SOLE 175,314
GATX Corporation COM 361448103 3,971 187,756 SH SOLE 187,756
General Electric Company COM 369604103 9,562 320,762 SH SOLE 320,762
General Growth Properties COM 370021107 8,383 116,923 SH SOLE 116,923
HCA Inc COM 404119109 5,974 162,075 SH SOLE 162,075
Hain Celestial Group Inc COM 405217100 4,189 231,042 SH SOLE 231,042
Hewlett Packard COM 428236103 4,844 250,200 SH SOLE 250,200
Honeywell International COM 438516106 5,624 213,421 SH SOLE 213,421
I-STAT Corp COM 450312103 12,660 946,899 SH SOLE 946,899
Intel Corp COM 458140100 6,375 231,655 SH SOLE 231,655
International Paper Co COM 460146103 6,006 153,915 SH SOLE 153,915
MSCI World Equity Benchmark MSCI AUSTRALIA 464286103 864 73,498 SH SOLE 73,498
MSCI World Equity Benchmark MSCI BELGIUM 464286301 152 12,969 SH SOLE 12,969
MSCI World Equity Benchmark MSCI SINGAPORE 464286673 189 33,739 SH SOLE 33,739
MSCI World Equity Benchmark MSCI UTD KINGD 464286699 4,553 339,492 SH SOLE 339,492
MSCI World Equity Benchmark MSCI FRANCE 464286707 1,462 85,725 SH SOLE 85,725
MSCI World Equity Benchmark MSCI SWITZERLD 464286749 1,167 91,331 SH SOLE 91,331
MSCI World Equity Benchmark MSCI SWEDEN 464286756 649 50,258 SH SOLE 50,258
MSCI World Equity Benchmark MSCI SPAIN 464286764 707 31,549 SH SOLE 31,549
MSCI World Equity Benchmark MSCI GERMAN 464286806 1,021 81,933 SH SOLE 81,933
MSCI World Equity Benchmark MSCI NETHERLND 464286814 840 59,958 SH SOLE 59,958
MSCI World Equity Benchmark MSCI JAPAN 464286848 4,096 467,581 SH SOLE 467,581
MSCI World Equity Benchmark MSCI ITALY 464286855 643 37,121 SH SOLE 37,121
MSCI World Equity Benchmark MSCI HONG KONG 464286871 637 67,290 SH SOLE 67,290
JPMorgan Chase & Co COM 46625H100 6,885 200,545 SH SOLE 200,545
Johnson & Johnson COM 478160104 5,157 104,143 SH SOLE 104,143
Jones Apparel Group, Inc. COM 480074103 6,743 225,303 SH SOLE 225,303
Kimco Realty Corp COM 49446R109 6,492 158,458 SH SOLE 158,458
Kroger Co COM 501044101 8,772 490,868 SH SOLE 490,868
Liberty Media Corp COM SER A 530718105 4,080 409,266 SH SOLE 409,266
Macerich Company COM 554382101 5,869 155,467 SH SOLE 155,467
Mack-Cali Realty Corp COM 554489104 7,389 188,503 SH SOLE 188,503
Microsoft Corp COM 594918104 11,094 399,080 SH SOLE 399,080
Midway Games Inc COM 598148104 4,585 1,548,908 SH SOLE 1,548,908
Morgan Stanley COM NEW 617446448 3,539 70,142 SH SOLE 70,142
Newell Rubbermaid Inc COM 651229106 7,227 333,482 SH SOLE 333,482
Parametric Technology Corp COM 699173100 5,049 1,603,013 SH SOLE 1,603,013
Pegasus Communications Corp CL A NEW 705904605 2,715 182,243 SH SOLE 182,243
Penney JC & Co COM 708160106 7,659 358,414 SH SOLE 358,414
Pfizer Inc COM 717081103 8,424 277,284 SH SOLE 277,284
Prologis SH BEN INT 743410102 5,789 191,364 SH SOLE 191,364
Prudential Financial Inc COM 744320102 7,353 196,814 SH SOLE 196,814
Raytheon Co COM NEW 755111507 6,183 220,818 SH SOLE 220,818
Reckson Associates Realty Corp COM 75621K106 7,087 306,652 SH SOLE 306,652
Regency Centers Corp COM 758849103 3,118 84,621 SH SOLE 84,621
SL Green Realty Corp COM 78440X101 8,857 245,271 SH SOLE 245,271
Sara Lee COM 803111103 6,326 344,543 SH SOLE 344,543
Schering-Plough Corp COM 806605101 7,290 478,327 SH SOLE 478,327
Shurgard Storage Centers-A COM 82567D104 5,353 151,647 SH SOLE 151,647
Simon Property Group Inc COM 828806109 3,445 79,056 SH SOLE 79,056
Starwood Hotels & Resorts PAIRED CTF 85590A203 2,374 68,231 SH SOLE 68,231
Tenet Healthcare Corp COM 88033G100 13,068 902,474 SH SOLE 902,474
Unova Inc COM 91529B106 9,154 624,864 SH SOLE 624,864
UnumProvident Corp COM 91529Y106 7,612 515,336 SH SOLE 515,336
Vicor Corp COM 925815102 4,382 459,333 SH SOLE 459,333
Vornado Realty Trust SH BEN INT 929042109 7,869 163,811 SH SOLE 163,811
Warnaco Group Inc/The CL A NEW 934390402 3,309 212,528 SH SOLE 212,528
Nabors Industries Ltd SHS G6359F103 4,677 125,530 SH SOLE 125,530
Orient Express Hotels Ltd CL A G67743107 5,797 371,581 SH SOLE 371,581
CANADIAN OPERATIONS - AMOUNTS SHOWN ARE IN U.S. DOLLARS
AGL Resources COM 001204106 20 700 SH SOLE 700
AOL Time Warner Inc COM 00184A105 1,238 81,960 SH SOLE 81,960
ATI Technologies Inc COM 001941103 898 44,600 SH SOLE 44,600
AT&T Wireless Service Inc COM 00209A106 1,290 157,751 SH SOLE 157,751
Abbot Laboratories COM 002824100 636 14,950 SH SOLE 14,950
Aber Diamond Corporation COM 002893105 112 3,000 SH SOLE 3,000
Abitibi-Consolidated Inc COM 003924107 354 37,300 SH SOLE 37,300
Air Products & Chemical Inc COM 009158106 438 9,720 SH SOLE 9,720
Alcan Inc COM 013716105 18,609 355,125 SH SOLE 355,125
Alcoa Inc COM 013817101 252 9,630 SH SOLE 9,630
Alliance Atlantis Comm Inc COM 01853E204 724 34,000 SH SOLE 34,000
Allstate Corp COM 020002101 3,131 85,710 SH SOLE 85,710
Altria Group COM 02209S103 1,587 36,231 SH SOLE 36,231
American Express Co COM 025816109 754 16,730 SH SOLE 16,730
American International Group COM 026874107 758 13,140 SH SOLE 13,140
AmerisourceBergen Corporation COM 03073E105 134 2,470 SH SOLE 2,470
Amgen Inc COM 031162100 1,010 15,660 SH SOLE 15,660
Amvescap PLC COM 03235E100 53 3,500 SH SOLE 3,500
Analog Devices COM 032654105 692 18,200 SH SOLE 18,200
Angiotech Pharmaceuticals Inc COM 034918102 153 2,600 SH SOLE 2,600
Apache Corporation COM 037411105 591 8,530 SH SOLE 8,530
Apple Computer Inc COM 037833100 489 23,600 SH SOLE 23,600
Archer-Daniel Midland COM 039483102 2,052 156,540 SH SOLE 156,540
Astrazeneca PLC COM 046353108 95 2,200 SH SOLE 2,200
Avery Dennison Corp COM 053611109 1,278 25,300 SH SOLE 25,300
Avon Products COM 054303102 587 9,100 SH SOLE 9,100
Axcelis Technologies Inc COM 054540109 71 8,500 SH SOLE 8,500
Axcan Pharma Inc COM 054923107 254 13,900 SH SOLE 13,900
BCE Inc COM 05534B109 22,230 762,592 SH SOLE 762,592
BG Group COM 055434203 1,511 70,300 SH SOLE 70,300
BISYS Group COM 055472104 181 13,780 SH SOLE 13,780
BP PLC COM 055622104 2,290 54,400 SH SOLE 54,400
Baker Hughes Inc COM 057224107 182 6,150 SH SOLE 6,150
Bank of America Corp COM 060505104 2,489 31,890 SH SOLE 31,890
Bank of Montreal COM 063671101 19,619 420,200 SH SOLE 420,200
Bank of Nova Scotia COM 064149107 29,481 467,210 SH SOLE 467,210
Bank One Corp COM 06423A103 234 6,050 SH SOLE 6,050
Barclays PLC COM 06738E204 2,269 73,200 SH SOLE 73,200
Barrick Gold Corp COM 067901108 31,157 1,225,200 SH SOLE 1,225,200
Bellsouth Corp COM 079860102 512 21,630 SH SOLE 21,630
Biovail Corp COM 09067J109 688 13,700 SH SOLE 13,700
Boardwalk Equities Inc COM 096613104 81 5,300 SH SOLE 5,300
Bowater Inc COM 102183100 162 3,860 SH SOLE 3,860
Brascan Corporation COM 10549P606 393 11,500 SH SOLE 11,500
Brinker International Inc COM 109641100 164 4,920 SH SOLE 4,920
Bristol-Myers Squibb Co COM 110122108 590 22,977 SH SOLE 22,977
British American Tobacco PLC COM 110448107 552 25,500 SH SOLE 25,500
CAE Inc COM 124765108 273 53,900 SH SOLE 53,900
CVS Corp COM 126650100 120 3,850 SH SOLE 3,850
Cameco Corp COM 13321L108 179 3,800 SH SOLE 3,800
Cdn Imp Bank of Commerce COM 136069101 16,327 295,190 SH SOLE 295,190
Cdn National Railways COM 136375102 333 6,400 SH SOLE 6,400
Cdn National Railways COM 136375102 26,770 383,640 SH SOLE 383,640
Canadian Nat Resources Ltd COM 136385101 1,935 34,800 SH SOLE 34,800
Canadian Pacific Railway Co COM 13645T100 7,302 228,270 SH SOLE 228,270
Canfor Corporation COM 137902102 280 29,600 SH SOLE 29,600
Canon Inc COM 138006309 219 4,500 SH SOLE 4,500
Career Education Corp COM 141665109 187 4,120 SH SOLE 4,120
Caremark Rx Inc COM 141705103 135 5,970 SH SOLE 5,970
Carnival Corp COM 143658300 566 17,200 SH SOLE 17,200
Caterpillar Inc COM 149123101 149 2,170 SH SOLE 2,170
Celestica Inc COM 15101Q108 535 25,100 SH SOLE 25,100
ChevronTexaco Corp COM 166764100 486 6,800 SH SOLE 6,800
Chubb Corporation COM 171232101 309 4,770 SH SOLE 4,770
Cisco Systems COM 17275R102 1,313 67,010 SH SOLE 67,010
Citigroup Inc COM 172967101 3,504 77,000 SH SOLE 77,000
Clear Channel Comm COM 184502102 661 17,250 SH SOLE 17,250
Cognos Inc COM 19244C109 341 8,100 SH SOLE 8,100
Colgate Palmolive COM 194162103 123 2,200 SH SOLE 2,200
Comcast Corporation COM 20030N101 809 26,200 SH SOLE 26,200
ConocoPhillips Inc COM 20825C104 744 13,580 SH SOLE 13,580
Convergys Corporation COM 212485106 979 53,400 SH SOLE 53,400
Corus Entertainment COM 220874101 254 10,800 SH SOLE 10,800
Cott Corp COM 22163N106 145 4,600 SH SOLE 4,600
Cox Communications Inc COM 224044107 613 19,380 SH SOLE 19,380
CP Ships Ltd COM 22409V102 265 9,300 SH SOLE 9,300
Creo COM 225606102 124 8,800 SH SOLE 8,800
DST Systems COM 233326107 143 3,810 SH SOLE 3,810
John Deere & Co. COM 244199105 675 12,670 SH SOLE 12,670
Dell Inc COM 24702R101 761 22,760 SH SOLE 22,760
Descartes Systems Group Inc. COM 249906108 38 10,900 SH SOLE 10,900
Devon Energy Corp COM 25179M103 177 3,680 SH SOLE 3,680
Diageo PLC COM 25243Q205 2,119 48,000 SH SOLE 48,000
Disney Walt Co COM 254687106 109 5,400 SH SOLE 5,400
Domtar Inc. COM 257561100 13,540 889,600 SH SOLE 889,600
Domtar Inc. COM 257561126 0 1,900 SH SOLE 1,900
Dorel Industries Inc COM 25822C205 98 2,500 SH SOLE 2,500
Dow Chemical Company COM 260543103 381 11,720 SH SOLE 11,720
Draxis Health Inc COM 26150J101 65 25,600 SH SOLE 25,600
E ON AG COM 268780103 2,987 61,200 SH SOLE 61,200
Ebay COM 278642103 220 4,100 SH SOLE 4,100
Eldorado Gold Corp COM 284902103 190 53,900 SH SOLE 53,900
Emerson Electric Co COM 291011104 342 6,500 SH SOLE 6,500
EnCana Corporation COM 292505104 17,899 366,040 SH SOLE 366,040
Enbridge Inc COM 29250N105 10,097 209,700 SH SOLE 209,700
Energy East Corporation COM 29266M109 220 9,800 SH SOLE 9,800
Entrust Inc COM 293848107 565 115,100 SH SOLE 115,100
Exxon Mobil Corp COM 30231G102 1,444 39,450 SH SOLE 39,450
FPL Group COM 302571104 166 2,630 SH SOLE 2,630
Fairfax Financial COM 303901102 105 500 SH SOLE 500
Fairmont Hotels COM 305204109 321 9,225 SH SOLE 9,225
Federal National Mtge Assoc COM 313586109 1,863 26,540 SH SOLE 26,540
First Data Corp COM 319963104 199 4,974 SH SOLE 4,974
Firstservice Corporation COM 33761N109 64 2,600 SH SOLE 2,600
First Energy Corp COM 337932107 92 2,880 SH SOLE 2,880
FleetBoston Financial Corp COM 339030108 1,827 60,600 SH SOLE 60,600
Fluor Corporation COM 343412102 1,516 40,600 SH SOLE 40,600
Forest Laboratories Inc COM 345838106 221 4,300 SH SOLE 4,300
Four Seasons Hotels COM 35100E104 88 1,300 SH SOLE 1,300
GSI Lumonics Inc COM 36229U102 119 10,800 SH SOLE 10,800
Genentech Inc COM 368710406 462 5,770 SH SOLE 5,770
General Dynamic Sys COM 369550108 2,506 32,100 SH SOLE 32,100
General Elec Co COM 369604103 906 30,380 SH SOLE 30,380
Gillette Co COM 375766102 124 3,887 SH SOLE 3,887
Gildan Activewear Inc COM 375916103 376 9,900 SH SOLE 9,900
Glamis Gold COM 376775102 125 7,000 SH SOLE 7,000
Glaxosmithkline Plc COM 37733W105 1,895 44,700 SH SOLE 44,700
Glaxosmithkline Plc COM 37733W295 438 35,100 SH SOLE 35,100
Gold Fields Ltd COM 38059T106 1,695 119,600 SH SOLE 119,600
Goldcorp Inc COM 380956409 341 18,100 SH SOLE 18,100
Goldman Sachs Group COM 38141G104 1,220 14,540 SH SOLE 14,540
Group CGI COM 39945C109 560 71,700 SH SOLE 71,700
Guidant Corp COM 401698105 386 8,230 SH SOLE 8,230
HCA Inc COM 404119109 155 4,200 SH SOLE 4,200
HSBC Holdings Plc COM 404280406 2,515 38,100 SH SOLE 38,100
Hartford Financial Services COM 416515104 472 8,970 SH SOLE 8,970
Hasbro Inc COM 418056107 73 3,900 SH SOLE 3,900
Heinz H J Co COM 423074103 321 9,370 SH SOLE 9,370
Hewlett Packard Co COM 428236103 656 33,900 SH SOLE 33,900
Home Depot Inc COM 437076102 348 10,913 SH SOLE 10,913
Honda Motor Co COM 438128308 2,403 119,200 SH SOLE 119,200
Honeywell International Inc COM 438516106 1,829 69,400 SH SOLE 69,400
Hormel Foods Corporation COM 440452100 37 1,600 SH SOLE 1,600
Imperial Oil Ltd COM 453038408 14,194 279,400 SH SOLE 279,400
Inco Ltd COM 453258402 888 23,700 SH SOLE 23,700
ING Groep NV COM 456837103 999 54,000 SH SOLE 54,000
Intel Corp COM 458140100 636 23,109 SH SOLE 23,109
InterActive Corp COM 45840Q101 352 10,600 SH SOLE 10,600
I B M Corp COM 459200101 1,318 14,920 SH SOLE 14,920
Intl Paper Co COM 460146103 447 11,460 SH SOLE 11,460
Intrawest Corp COM 460915200 83 4,400 SH SOLE 4,400
Amvescap PLC COM 461276891 116 25,000 SH SOLE 25,000
IPSCO Inc COM 462622101 87 5,300 SH SOLE 5,300
Ishares Tr COM 464287465 108,043 923,441 SH SOLE 923,441
Johnson & Johnson COM 478160104 1,475 29,794 SH SOLE 29,794
Kellogg Co COM 487836108 765 22,930 SH SOLE 22,930
Keyspan Corp COM 49337W100 133 3,800 SH SOLE 3,800
Kimberly Clark COM 494368103 729 14,210 SH SOLE 14,210
Kingsway Financial Service Inc COM 496904103 320 25,200 SH SOLE 25,200
Knight Ridder COM 499040103 173 2,600 SH SOLE 2,600
Kohls Corporation COM 500255104 571 10,670 SH SOLE 10,670
KROGER CO COM 501044101 96 5,400 SH SOLE 5,400
Lamar Advertising Company COM 512815101 207 7,030 SH SOLE 7,030
Estee Lauder COM 518439104 72 2,100 SH SOLE 2,100
Leitch Technology Corp COM 52543H107 3,016 726,700 SH SOLE 726,700
Liberty Media COM 530718105 186 18,700 SH SOLE 18,700
Linear Technology COM 535678106 313 8,720 SH SOLE 8,720
Luxottica Group SPA COM 55068R202 1,136 79,500 SH SOLE 79,500
Mbna corp COM 55262L100 358 15,700 SH SOLE 15,700
MDS Inc COM 55269P302 19,870 1,086,400 SH SOLE 1,086,400
Magna International Inc COM 559222401 13,319 136,600 SH SOLE 136,600
Manulife Financial Corp COM 56501R106 7,236 185,400 SH SOLE 185,400
Marsh & Mclennan COM 571748102 226 4,740 SH SOLE 4,740
Matsushita Electric Ind. Co COM 576879209 873 73,000 SH SOLE 73,000
Maxim Integrated Products COM 57772K101 301 7,640 SH SOLE 7,640
McDonalds Corporation COM 580135101 111 4,700 SH SOLE 4,700
Medtronic Inc COM 585055106 446 9,500 SH SOLE 9,500
Mellon Financial COM 58551A108 981 32,540 SH SOLE 32,540
Mercury Interactive Corp COM 589405109 238 5,210 SH SOLE 5,210
Merrill Lynch & Co Inc COM 590188108 1,196 22,340 SH SOLE 22,340
Methanex Corp COM 59151K108 260 20,600 SH SOLE 20,600
Metlife Inc COM 59156R108 535 19,090 SH SOLE 19,090
Microsoft Corp COM 594918104 3,082 110,852 SH SOLE 110,852
Microchip Technology Inc COM 595017104 235 9,810 SH SOLE 9,810
Moore Wallace Inc PREF 615857109 12,698 668,300 SH SOLE 668,300
Morgan Stanley Co COM 617446448 1,045 20,700 SH SOLE 20,700
Motorola Inc COM 620076109 411 34,300 SH SOLE 34,300
National Fuel Gas Company COM 636180101 181 7,900 SH SOLE 7,900
Network Associates COM 640938106 140 10,200 SH SOLE 10,200
New York Times Co COM 650111107 1,243 28,610 SH SOLE 28,610
Newell Rubbermaid Inc COM 651229106 80 3,700 SH SOLE 3,700
Nexen Inc COM 65334H102 22,792 620,200 SH SOLE 620,200
Nippon Tel & Tel Co COM 654624105 1,087 48,000 SH SOLE 48,000
Nokia Corp COM 654902204 1,407 90,200 SH SOLE 90,200
Nomura Holdings Inc COM 65535H208 2,037 127,000 SH SOLE 127,000
Norfolk Southern Corp COM 655844108 (666 (36,000)SH SOLE (36,000)
Nortel Networks Corp COM 656568102 8,199 1,477,210 SH SOLE 1,477,210
Northern Trust Corp PREF 665859104 140 3,300 SH SOLE 3,300
Northrop Grumman Corp COM 666807102 278 3,220 SH SOLE 3,220
Northrop Grumman Corp COM 666807409 78 800 SH SOLE 800
Nova Chemicals Corp COM 66977W109 196 7,100 SH SOLE 7,100
Novartis AG COM 66987V109 2,525 65,000 SH SOLE 65,000
Novellus Systems Inc COM 670008101 331 9,840 SH SOLE 9,840
NSTAR COM 67019E107 314 6,600 SH SOLE 6,600
Occidental Petroleum COM 674599105 210 5,970 SH SOLE 5,970
Open Text COM 683715106 97 2,100 SH SOLE 2,100
Oracle Systems Corp COM 68389X105 567 50,386 SH SOLE 50,386
Outback Steakhouse COM 689899102 167 4,400 SH SOLE 4,400
PPG Industries COM 693506107 581 11,120 SH SOLE 11,120
PPL Corporation COM 69351T106 170 4,160 SH SOLE 4,160
Pearson Plc COM 705015105 144 15,000 SH SOLE 15,000
Pepsico Inc COM 713448108 1,031 22,490 SH SOLE 22,490
Petro Canada Limited COM 71644E102 1,596 30,400 SH SOLE 30,400
Pfizer Inc COM 717081103 4,653 153,152 SH SOLE 153,152
Pitney Bowes Inc COM 724479100 943 24,600 SH SOLE 24,600
Placer Dome Inc COM 725906101 29,078 1,566,700 SH SOLE 1,566,700
Potash Corp of Sask Inc COM 73755L107 6,563 68,600 SH SOLE 68,600
Praxair Inc COM 74005P104 103 1,670 SH SOLE 1,670
Precision Drilling Corp COM 74022D100 771 15,100 SH SOLE 15,100
Procter & Gamble Co COM 742718109 570 6,142 SH SOLE 6,142
Progress Energy Ltd COM 742981103 135 13,700 SH SOLE 13,700
Prudential Financial Inc COM 744320102 1,629 43,600 SH SOLE 43,600
QLT Inc COM 746927102 396 18,300 SH SOLE 18,300
Quebecor World Inc COM 748203106 12,934 509,800 SH SOLE 509,800
Reed Elsevier NV COM 758204101 1,162 51,000 SH SOLE 51,000
Research In Motion COM 760975102 237 4,600 SH SOLE 4,600
Rio Tinto Plc COM 767204100 53 600 SH SOLE 600
Rogers Communication Class B COM 775109200 499 24,100 SH SOLE 24,100
Royal Bank of Canada COM 780087102 28,412 477,906 SH SOLE 477,906
Royal Dutch Petroleum Co COM 780257804 3,196 72,300 SH SOLE 72,300
SBC Communications COM 78387G103 3,503 157,450 SH SOLE 157,450
SLM Corporation COM 78442P106 401 10,290 SH SOLE 10,290
SPDR Trust COM 78462F103 166,641 1,667,243 SH SOLE 1,667,243
Safeway Inc COM 786514208 65 2,840 SH SOLE 2,840
St Paul Companies COM 792860108 81 2,200 SH SOLE 2,200
Schering Plough Corp COM 806605101 608 39,900 SH SOLE 39,900
Schlumberger Ltd COM 806857108 458 9,460 SH SOLE 9,460
Sears Roebuck & Co COM 812387108 241 5,500 SH SOLE 5,500
Secom Company Ltd COM 813113206 308 4,000 SH SOLE 4,000
Shire Pharmaceuticals Grp Plc COM 82481R106 1,246 56,400 SH SOLE 56,400
Siemens AG COM 826197501 1,937 32,600 SH SOLE 32,600
Smurfit Stone Container COM 832727101 238 15,900 SH SOLE 15,900
Sony Corp COM 835699307 383 11,000 SH SOLE 11,000
Southern Peru Copper COM 843611104 175 7,900 SH SOLE 7,900
Southtrust Corp COM 844730101 175 5,950 SH SOLE 5,950
Sprint Corp PCS Group COM 852061506 226 39,390 SH SOLE 39,390
Stake Technology COM 852559103 53 5,700 SH SOLE 5,700
Stanley Works COM 854616109 599 20,300 SH SOLE 20,300
Staples Inc COM 855030102 211 8,860 SH SOLE 8,860
Starbucks COM 855244109 300 10,400 SH SOLE 10,400
Starwood Hotels & Resorts COM 85590A203 233 6,700 SH SOLE 6,700
Suncor Energy Inc COM 867229106 1,291 51,800 SH SOLE 51,800
SunGuard Data Systems COM 867363103 347 13,180 SH SOLE 13,180
Suntrust Banks Inc COM 867914103 761 12,610 SH SOLE 12,610
Superior Industries Int'l COM 868168105 900 22,200 SH SOLE 22,200
TJX Companies Inc COM 872540109 356 18,340 SH SOLE 18,340
TLC Vision Corp COM 872549100 67 7,900 SH SOLE 7,900
TXU Corp COM 873168108 384 16,300 SH SOLE 16,300
TXU Corp COM 873168504 7 200 SH SOLE 200
Talisman Energy Inc PREF 87425E103 1,429 22,300 SH SOLE 22,300
Target Corp COM 87612E106 648 17,230 SH SOLE 17,230
Telefonos de Mexico S A de C V COM 879403780 1,246 40,800 SH SOLE 40,800
TELUS Corp COM 87971M202 233 11,000 SH SOLE 11,000
Texas Instruments Inc COM 882508104 526 23,090 SH SOLE 23,090
Thermo Electron Corp COM 883556102 206 9,500 SH SOLE 9,500
Thomson Corp COM 884903105 205 5,000 SH SOLE 5,000
3M Company COM 88579Y101 493 7,140 SH SOLE 7,140
Timberland Company COM 887100105 1,267 29,700 SH SOLE 29,700
Tomkins PLC COM 890030208 1,808 108,000 SH SOLE 108,000
Toronto Dominion Bank COM 891160509 17,881 467,600 SH SOLE 467,600
TransCanada Corp PREF 89353D107 30,403 1,212,721 SH SOLE 1,212,721
Travelers Property Casualty COM 89420G109 788 49,640 SH SOLE 49,640
Tribune Co COM 896047107 928 20,210 SH SOLE 20,210
Tyco Intl Ltd COM 902124106 642 31,400 SH SOLE 31,400
Tyson Foods Inc COM 902494103 113 8,000 SH SOLE 8,000
UST Inc COM 902911106 3,191 90,700 SH SOLE 90,700
Union Pacific Corp. COM 907818108 570 9,800 SH SOLE 9,800
Unisys Corporation COM 909214108 626 46,300 SH SOLE 46,300
United Parcel Service COM 911312106 304 4,770 SH SOLE 4,770
United Technologies Corp COM 913017109 641 8,300 SH SOLE 8,300
Unocal Corp COM 915289102 485 15,400 SH SOLE 15,400
UPM Kymmene Corporation COM 915436109 1,648 97,900 SH SOLE 97,900
Veritas Softwar Corp COM 923436109 588 18,660 SH SOLE 18,660
Verizon Comm COM 92343V104 496 15,300 SH SOLE 15,300
Viacom Inc COM 925524308 1,519 39,550 SH SOLE 39,550
Vodafone Group Plc COM 92857W100 486 24,000 SH SOLE 24,000
WGL Holdings Inc COM 92924F106 130 4,700 SH SOLE 4,700
WPP Group PLC COM 929309300 421 10,000 SH SOLE 10,000
Wachovia Corp COM 929903102 221 5,360 SH SOLE 5,360
Wal Mart Stores Inc COM 931142103 942 16,860 SH SOLE 16,860
Walgreen Co COM 931422109 320 10,440 SH SOLE 10,440
Waters Corp COM 941848103 1,574 57,400 SH SOLE 57,400
Wendys International Inc COM 950590109 1,040 32,200 SH SOLE 32,200
Westwood One COM 961815107 390 12,930 SH SOLE 12,930
Wheaton River Minerals COM 962902102 94 35,100 SH SOLE 35,100
Wheaton River Minerals COM 962902177 18 13,875 SH SOLE 13,875
Williams Sanoma Inc COM 969904101 189 7,000 SH SOLE 7,000
Wyeth COM 983024100 1,741 37,760 SH SOLE 37,760
Xilinx COM 983919101 438 15,390 SH SOLE 15,390
Zarlink Semiconductor COM 989139100 282 53,500 SH SOLE 53,500
Deutsche Bank AG COM D18190898 303 5,000 SH SOLE 5,000
Ace Ltd COM G0070K103 337 10,200 SH SOLE 10,200
Noble Corp COM G65422100 360 10,600 SH SOLE 10,600
Transocean Inc COM G90078109 896 44,800 SH SOLE 44,800
Check Point Software Tech Ltd COM M22465104 978 58,100 SH SOLE 58,100
ASML Holding NV COM N07059111 184 14,000 SH SOLE 14,000
1,415,121