UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 2004
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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: Candace Shaw
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Title: Vice-President, Investments
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Phone: 416-979-6167
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Signature, Place, and Date of Signing:
/s/ Candace Shaw Ontario, Canada 5-13-2004
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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: 430
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Form 13F Information Table Value Total: $ 1,540,533
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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 - MARCH 31, 2004
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 MANAGERS SOLE SHARED NONE
------------------------- ---------------- --------- -------- --------- ----- ------ ------------ --------- ---------- ------ ----
U.S. OPERATIONS - AMOUNTS
SHOWN ARE IN U.S. DOLLARS
Agco Corp COM 001084102 9,030 436,003 SH SOLE 436,003
AMR Corp COM 001765106 419 32,953 SH SOLE 32,953
Agere Systems Inc CL B 00845V209 8,945 2,867,037 SH SOLE 2,867,037
Alexandria Real Estate
Equit. COM 015271109 8,542 135,587 SH SOLE 135,587
Allmerica Financial Corp COM 019754100 8,554 247,575 SH SOLE 247,575
Alpharma Inc CL A 020813101 8,724 444,871 SH SOLE 444,871
American Financial Realty
Tr COM 02607P305 16,364 965,438 SH SOLE 965,438
Annaly Mortgage
Management COM 035710409 11,813 604,239 SH SOLE 604,239
AON Corp COM 037389103 9,195 329,461 SH SOLE 329,461
Archer Daniels Midland Co COM 039483102 9,226 546,874 SH SOLE 546,874
Archstone-Smith Trust COM 039583109 8,551 289,771 SH SOLE 289,771
Arris Group Inc COM 04269Q100 5,286 578,300 SH SOLE 578,300
AvalonBay Communities
Inc. COM 053484101 9,568 178,575 SH SOLE 178,575
BRE Properties Inc CL A 05564E106 7,801 227,313 SH SOLE 227,313
Baxter International Inc COM 071813109 12,688 410,746 SH SOLE 410,746
Boeing Company COM 097023105 2,829 68,876 SH SOLE 68,876
Bristol-Myers Squibb COM 110122108 6,294 259,763 SH SOLE 259,763
Brocade Communications
Sys COM 111621108 7,487 1,127,578 SH SOLE 1,127,578
CBL & Associates
Properties COM 124830100 10,250 167,094 SH SOLE 167,094
Cablevision Systems Corp CL A NY CABLVS 12686C109 3,696 161,527 SH SOLE 161,527
Cadence Design System COM 127387108 8,251 559,749 SH SOLE 559,749
Calpine Corp COM 131347106 8,384 1,795,318 SH SOLE 1,795,318
CarrAmerica Realty Corp COM 144418100 6,677 196,952 SH SOLE 196,952
Centerpoint Properties
Trust SH BEN INT 151895109 7,793 94,462 SH SOLE 94,462
Clean Harbors Inc COM 184496107 4,852 654,856 SH SOLE 654,856
Comcast Corp CL A 20030N101 12,249 425,901 SH SOLE 425,901
Concord Communications
Inc COM 206186108 4,132 282,430 SH SOLE 282,430
Consol Energy, Inc COM 20854P109 11,023 411,324 SH SOLE 411,324
Crescent Real Estate EQT
Co COM 225756105 5,357 298,086 SH SOLE 298,086
Delta & Pine Land Co COM 247357106 4,169 167,100 SH SOLE 167,100
Developers Diversified
Realty COM 251591103 12,707 314,541 SH SOLE 314,541
Dillards Inc CL A 254067101 14,955 780,553 SH SOLE 780,553
Eastman Kodak Co COM 277461109 8,092 309,205 SH SOLE 309,205
Echostar Communications
Corp CL A 278762109 11,405 348,247 SH SOLE 348,247
Eclipsys Corp COM 278856109 4,284 317,772 SH SOLE 317,772
Equity Office Properties
Trust COM 294741103 3,649 126,307 SH SOLE 126,307
Equity Residential
Properties SH BEN INT 29476L107 9,555 320,090 SH SOLE 320,090
Federal Realty
Investment Tr SH BEN INT NEW 313747206 414 8,959 SH SOLE 8,959
Felcor Lodging Trust Inc COM 31430F101 1,862 178,660 SH SOLE 178,660
GATX Corporation COM 361448103 9,907 446,843 SH SOLE 446,843
General Growth Properties COM 370021107 14,366 408,708 SH SOLE 408,708
Grant Prideco Inc COM 38821G101 8,701 561,379 SH SOLE 561,379
Hain Celestial Group Inc COM 405217100 903 40,866 SH SOLE 40,866
Honeywell International COM 438516106 7,217 213,200 SH SOLE 213,200
Host Marriot Corp COM 44107P104 2,120 165,901 SH SOLE 165,901
Interactivecorp COM 45840Q101 8,825 279,009 SH SOLE 279,009
International Paper Co COM 460146103 8,638 204,413 SH SOLE 204,413
Interpublic Group of
Cos Inc COM 460690100 3,845 249,983 SH SOLE 249,983
MSCI World Equity
Benchmark MSCI AUSTRALIA 464286103 1,034 73,498 SH SOLE 73,498
MSCI World Equity
Benchmark MSCI BELGIUM 464286301 175 12,969 SH SOLE 12,969
MSCI World Equity
Benchmark MSCI SINGAPORE 464286673 215 33,739 SH SOLE 33,739
MSCI World Equity
Benchmark MSCI UTD KINGD 464286699 5,381 339,492 SH SOLE 339,492
MSCI World Equity
Benchmark MSCI FRANCE 464286707 1,749 85,725 SH SOLE 85,725
MSCI World Equity
Benchmark MSCI SWITZERLD 464286749 1,354 91,331 SH SOLE 91,331
MSCI World Equity
Benchmark MSCI SWEDEN 464286756 836 50,258 SH SOLE 50,258
MSCI World Equity
Benchmark MSCI SPAIN 464286764 890 31,549 SH SOLE 31,549
MSCI World Equity
Benchmark MSCI GERMAN 464286806 1,275 81,933 SH SOLE 81,933
MSCI World Equity
Benchmark MSCI NETHERLND 464286814 951 59,958 SH SOLE 59,958
MSCI World Equity
Benchmark MSCI JAPAN 464286848 5,083 467,581 SH SOLE 467,581
MSCI World Equity
Benchmark MSCI ITALY 464286855 734 37,121 SH SOLE 37,121
MSCI World Equity
Benchmark MSCI HONG KONG 464286871 713 67,290 SH SOLE 67,290
JPMorgan Chase & Co COM 46625H100 9,498 226,419 SH SOLE 226,419
Kimco Realty Corp COM 49446R109 9,493 186,207 SH SOLE 186,207
Lockheed Martin Corp COM 539830109 7,790 170,681 SH SOLE 170,681
Macerich Company COM 554382101 12,036 223,305 SH SOLE 223,305
Mack-Cali Realty Corp COM 554489104 6,868 152,936 SH SOLE 152,936
Merck COM 589331107 7,598 171,949 SH SOLE 171,949
Meristar Hospitatlity
Corp COM 58984Y103 4,340 624,419 SH SOLE 624,419
Micron Technology Inc COM 595112103 9,414 563,346 SH SOLE 563,346
Midway Games Inc COM 598148104 11,269 1,547,970 SH SOLE 1,547,970
Monsanto Company COM 61166W101 8,554 233,278 SH SOLE 233,278
Newfield Exploration Co COM 651290108 4,202 87,675 SH SOLE 87,675
Newmont Mining Corp COM 651639106 4,375 93,830 SH SOLE 93,830
Oshkosh B'Gosh Inc. CL A 688222207 4,658 198,964 SH SOLE 198,964
Pfizer Inc COM 717081103 9,626 274,635 SH SOLE 274,635
Prologis SH BEN INT 743410102 8,074 225,095 SH SOLE 225,095
Prudential Financial Inc COM 744320102 8,257 184,401 SH SOLE 184,401
Public Storage Inc COM 74460D109 3,516 72,263 SH SOLE 72,263
Raytheon Co COM NEW 755111507 8,574 273,574 SH SOLE 273,574
Reckson Associates
Realty Corp COM 75621K106 6,564 233,271 SH SOLE 233,271
Regency Centers Corp COM 758849103 4,710 100,788 SH SOLE 100,788
Revlon Inc Cl A CL A 761525500 4,161 1,502,000 SH SOLE 1,502,000
Rockwell International
Corp COM 773903109 9,784 282,199 SH SOLE 282,199
SL Green Realty Corp COM 78440X101 9,671 202,737 SH SOLE 202,737
Schering-Plough Corp COM 806605101 7,754 478,026 SH SOLE 478,026
Shurgard Storage
Centers-A COM 82567D104 7,698 192,941 SH SOLE 192,941
Simon Property Group Inc COM 828806109 7,442 127,349 SH SOLE 127,349
Smithfield Foods Inc COM 832248108 8,480 312,673 SH SOLE 312,673
Timken Co COM 887389104 2,462 106,000 SH SOLE 106,000
Trinity Industries COM 896522109 4,271 153,618 SH SOLE 153,618
UnumProvident Corp COM 91529Y106 9,414 643,464 SH SOLE 643,464
Vicor Corp COM 925815102 5,785 471,494 SH SOLE 471,494
Vornado Realty Trust SH BEN INT 929042109 9,341 154,441 SH SOLE 154,441
Warnaco Group Inc/The COM NEW 934390402 4,572 227,562 SH SOLE 227,562
Williams Companies Inc COM 969457100 9,042 944,830 SH SOLE 944,830
Bunge Limited COM G16962105 10,219 254,076 SH SOLE 254,076
Nabors Industries Ltd SHS G6359F103 8,373 183,023 SH SOLE 183,023
Orient Express Hotels Ltd CL A G67743107 6,486 362,528 SH SOLE 362,528
Transocean Inc ORD G90078109 8,368 300,019 SH SOLE 300,019
CANADIAN OPERATIONS -
AMOUNTS SHOWN ARE IN
U.S. DOLLARS
ABB Ltd COM 000375204 981 215,000 SH SOLE 215,000
Aflac Inc COM 001055102 110 3,600 SH SOLE 3,600
Agco Corp COM 001084102 504 31,900 SH SOLE 31,900
ATI Technologies Inc COM 001941103 687 42,200 SH SOLE 42,200
Abbot Laboratories COM 002824100 1,879 59,900 SH SOLE 59,900
Aber Diamond Corporation COM 002893105 465 14,600 SH SOLE 14,600
Abitibi-Consolidated Inc COM 003924107 1,657 232,700 SH SOLE 232,700
Adtran Inc COM 00738A106 193 8,400 SH SOLE 8,400
Aegon N.V. COM 007924103 937 95,500 SH SOLE 95,500
Agrium Inc COM 008916108 2,323 157,200 SH SOLE 157,200
Air Products & Chemical
Inc COM 009158106 372 9,720 SH SOLE 9,720
Ajinomoto COM 009707100 859 9,500 SH SOLE 9,500
Electrolux AB COM 010198208 870 27,800 SH SOLE 27,800
Alcan Inc COM 013716105 16,976 381,525 SH SOLE 381,525
Alcoa Inc COM 013817101 712 26,900 SH SOLE 26,900
Alliance Atlantis
Comm Inc COM 01853E204 525 27,600 SH SOLE 27,600
Allstate Corp COM 020002101 2,551 73,510 SH SOLE 73,510
Altria Group COM 02209S103 1,360 32,731 SH SOLE 32,731
American Express Co COM 025816109 1,003 25,330 SH SOLE 25,330
American International
Group COM 026874107 645 11,840 SH SOLE 11,840
Amgen Inc COM 031162100 402 9,060 SH SOLE 9,060
Amvescap PLC COM 03235E100 58 5,000 SH SOLE 5,000
Anadarko Petroleum COM 032511107 978 24,700 SH SOLE 24,700
Analog Devices COM 032654105 524 14,300 SH SOLE 14,300
Andrew Corp COM 034425108 218 16,300 SH SOLE 16,300
Angiotech Pharmaceuticals
Inc COM 034918102 156 6,400 SH SOLE 6,400
Apache Corporation COM 037411105 585 17,760 SH SOLE 17,760
Apollo Group Inc COM 037604105 171 2,600 SH SOLE 2,600
Archer-Daniel Midland COM 039483102 549 42,640 SH SOLE 42,640
Astrazeneca PLC COM 046353108 78 2,200 SH SOLE 2,200
Atlas Energy Ltd COM 049300106 45 17,200 SH SOLE 17,200
Avery Dennison Corp COM 053611109 1,201 25,300 SH SOLE 25,300
Avon Products COM 054303102 313 5,400 SH SOLE 5,400
BCE Inc COM 05534B109 27,084 1,285,992 SH SOLE 1,285,992
BG Group COM 055434203 47 2,000 SH SOLE 2,000
BP PLC COM 055622104 1,774 45,400 SH SOLE 45,400
Bank of America Corp COM 060505104 3,300 53,390 SH SOLE 53,390
Bank of Montreal COM 063671101 13,148 317,600 SH SOLE 317,600
Bank of New York COM 064057102 19 800 SH SOLE 800
Bank of Nova Scotia COM 064149107 26,315 486,910 SH SOLE 486,910
Bank One Corp COM 06423A103 485 11,650 SH SOLE 11,650
Bard C.R COM 067383109 75 1,000 SH SOLE 1,000
Barclays PLC COM 06738E204 960 34,800 SH SOLE 34,800
Barrick Gold Corp COM 067901108 23,290 984,200 SH SOLE 984,200
Baxter Intl Inc COM 071813109 99 4,200 SH SOLE 4,200
Bema Gold Corp COM 08135F107 164 44,600 SH SOLE 44,600
Best Buy Co COM 086516101 912 23,100 SH SOLE 23,100
Black & Decker Corp COM 091797100 87 2,000 SH SOLE 2,000
Boardwalk Equities Inc COM 096613104 88 6,500 SH SOLE 6,500
Bowater Inc COM 102183100 129 3,860 SH SOLE 3,860
Brascan Corporation COM 10549P606 459 11,500 SH SOLE 11,500
Brasil Telecom Part SA COM 105530109 269 10,300 SH SOLE 10,300
Bristol-Myers Squibb Co COM 110122108 775 41,877 SH SOLE 41,877
Burlington North Santa Fe COM 12189T104 120 5,000 SH SOLE 5,000
CAE Inc COM 124765108 216 49,600 SH SOLE 49,600
CHC Helicopter Corp COM 12541C203 85 3,100 SH SOLE 3,100
CVS Corp COM 126650100 104 3,850 SH SOLE 3,850
Cameco Corp COM 13321L108 468 9,400 SH SOLE 9,400
Cdn Imp Bank of Commerce COM 136069101 13,982 267,790 SH SOLE 267,790
Cdn National Railways COM 136375102 24,107 616,310 SH SOLE 616,310
Cdn National Railways COM 136375102 288 9,600 SH SOLE 9,600
Canadian Nat Resources
Ltd COM 136385101 716 12,900 SH SOLE 12,900
Canadian Pacific
Railway Co COM 13645T100 9,015 374,920 SH SOLE 374,920
Canfor Corporation COM 137902102 315 29,600 SH SOLE 29,600
Canon Inc COM 138006309 1,768 44,700 SH SOLE 44,700
Cardinal Health Inc COM 14149Y108 342 6,500 SH SOLE 6,500
Career Education Corp COM 141665109 178 4,120 SH SOLE 4,120
Caremark Rx Inc COM 141705103 220 8,670 SH SOLE 8,670
Carnival Corp COM 143658300 836 24,400 SH SOLE 24,400
Cedera Software Corp COM 150644102 57 8,600 SH SOLE 8,600
Celestica Inc COM 15101Q108 523 32,100 SH SOLE 32,100
ChevronTexaco Corp COM 166764100 402 6,000 SH SOLE 6,000
Chubb Corporation COM 171232101 147 2,770 SH SOLE 2,770
Cinergy Corp COM 172474108 222 7,100 SH SOLE 7,100
Cisco Systems COM 17275R102 1,206 67,010 SH SOLE 67,010
Citigroup Inc COM 172967101 3,268 82,800 SH SOLE 82,800
Clear Channel Comm COM 184502102 516 15,950 SH SOLE 15,950
Coach Inc COM 189754104 163 5,200 SH SOLE 5,200
Cognos Inc COM 19244C109 272 8,700 SH SOLE 8,700
Colgate Palmolive COM 194162103 1,304 31,000 SH SOLE 31,000
Comcast Corporation COM 20030N101 880 40,100 SH SOLE 40,100
Cia De Minas Buenaventur COM 204448104 75 3,400 SH SOLE 3,400
ConocoPhillips Inc COM 20825C104 724 13,580 SH SOLE 13,580
Constellation Energy
Group COM 210371100 479 15,700 SH SOLE 15,700
Corning Inc COM 219350105 307 36,000 SH SOLE 36,000
Corus Entertainment COM 220874101 228 10,800 SH SOLE 10,800
Cott Corp COM 22163N106 135 4,600 SH SOLE 4,600
Cox Communications Inc COM 224044107 325 13,480 SH SOLE 13,480
CP Ships Ltd COM 22409V102 8,831 516,700 SH SOLE 516,700
Creo COM 225606102 104 11,100 SH SOLE 11,100
Cummins Inc. COM 231021106 509 11,400 SH SOLE 11,400
Danaher Corp COM 235851102 378 5,300 SH SOLE 5,300
John Deere & Co. COM 244199105 337 6,370 SH SOLE 6,370
Dell Inc COM 24702R101 592 23,060 SH SOLE 23,060
Descartes Systems
Group Inc. COM 249906108 67 28,900 SH SOLE 28,900
Deutsche Telecom COM 251566105 475 34,500 SH SOLE 34,500
Devon Energy Corp COM 25179M103 119 2,680 SH SOLE 2,680
Diageo PLC COM 25243Q205 1,776 44,000 SH SOLE 44,000
Dominion Resources Inc COM 25746U109 123 2,500 SH SOLE 2,500
Domtar Inc. COM 257561100 12,618 1,052,800 SH SOLE 1,052,800
Dorel Industries Inc COM 25822C205 105 3,100 SH SOLE 3,100
Dow Chemical Company COM 260543103 336 10,920 SH SOLE 10,920
Draxis Health Inc COM 26150J101 142 27,600 SH SOLE 27,600
DuPont (E.I.) De Nemours COM 263534109 219 6,800 SH SOLE 6,800
EOG Resources COM 26875P101 35 1,000 SH SOLE 1,000
E ON AG COM 268780103 1,648 32,700 SH SOLE 32,700
Ebay COM 278642103 280 5,300 SH SOLE 5,300
Echostar Communications COM 278762109 368 14,700 SH SOLE 14,700
Eldorado Gold Corp COM 284902103 108 37,600 SH SOLE 37,600
Emerson Electric Co COM 291011104 663 14,500 SH SOLE 14,500
EnCana Corporation COM 292505104 23,037 532,340 SH SOLE 532,340
Enbridge Inc COM 29250N105 9,724 239,000 SH SOLE 239,000
Energy East Corporation COM 29266M109 190 9,800 SH SOLE 9,800
Entergy Corp COM 29364G103 200 4,400 SH SOLE 4,400
Entrust Inc COM 293848107 187 56,100 SH SOLE 56,100
Extendicare Inc COM 30224T871 235 20,500 SH SOLE 20,500
Exxon Mobil Corp COM 30231G102 941 29,650 SH SOLE 29,650
Fairfax Financial COM 303901102 78 500 SH SOLE 500
Fairmont Hotels COM 305204109 273 10,825 SH SOLE 10,825
Federal National
Mtge Assoc COM 313586109 1,245 21,940 SH SOLE 21,940
Fedex Corporation COM 31428X106 350 6,100 SH SOLE 6,100
First Data Corp COM 319963104 1,412 43,874 SH SOLE 43,874
Firstservice Corporation COM 33761N109 117 4,900 SH SOLE 4,900
Fiserv Inc COM 337738108 235 8,600 SH SOLE 8,600
First Energy Corp COM 337932107 86 2,880 SH SOLE 2,880
FleetBoston Financial
Corp COM 339030108 890 25,980 SH SOLE 25,980
Fluor Corporation COM 343412102 1,329 45,000 SH SOLE 45,000
Fox Entertainment COM 35138T107 269 13,000 SH SOLE 13,000
Franklin Resources Inc COM 354613101 77 1,800 SH SOLE 1,800
Freeport Mcmoran Copper COM 35671D857 674 22,600 SH SOLE 22,600
GSI Lumonics Inc COM 36229U102 386 27,600 SH SOLE 27,600
Gannett Co COM 364730101 982 14,600 SH SOLE 14,600
Genentech Inc COM 368710406 95 1,170 SH SOLE 1,170
General Dynamic Sys COM 369550108 1,671 24,500 SH SOLE 24,500
General Elec Co COM 369604103 1,626 69,780 SH SOLE 69,780
Genzyme Corp COM 372917104 454 12,700 SH SOLE 12,700
Gilead Sciences COM 375558103 542 12,800 SH SOLE 12,800
Gildan Activewear Inc COM 375916103 326 10,400 SH SOLE 10,400
Glamis Gold COM 376775102 511 28,600 SH SOLE 28,600
Glaxosmithkline Plc COM 37733W105 3,489 114,400 SH SOLE 114,400
Gold Fields Ltd COM 38059T106 1,800 179,300 SH SOLE 179,300
Goldcorp Inc COM 380956409 357 24,100 SH SOLE 24,100
Goldman Sachs Group COM 38141G104 951 11,940 SH SOLE 11,940
Group CGI COM 39945C109 11,905 1,824,100 SH SOLE 1,824,100
Grupo Televisa SA COM 40049J206 275 7,600 SH SOLE 7,600
Guidant Corp COM 401698105 316 6,530 SH SOLE 6,530
HCA Inc COM 404119109 146 4,700 SH SOLE 4,700
HSBC Holdings Plc COM 404280406 1,279 22,400 SH SOLE 22,400
John Hancock Fin Svcs COM 41014S106 314 9,400 SH SOLE 9,400
Hartford Financial
Services COM 416515104 276 5,680 SH SOLE 5,680
HBOS PLC COM 42205M106 899 29,000 SH SOLE 29,000
Heinz H J Co COM 423074103 309 10,870 SH SOLE 10,870
Hewlett Packard Co COM 428236103 629 36,100 SH SOLE 36,100
Honda Motor Co COM 438128308 869 49,200 SH SOLE 49,200
Honeywell International
Inc COM 438516106 1,261 48,800 SH SOLE 48,800
Humana Inc COM 444859102 466 32,100 SH SOLE 32,100
Hummingbird LTD COM 44544R101 213 9,400 SH SOLE 9,400
Hydrogenics Corporation COM 448882100 179 33,900 SH SOLE 33,900
Illinois Tool Works Inc COM 452308109 224 3,700 SH SOLE 3,700
Imperial Oil Ltd COM 453038408 11,307 251,600 SH SOLE 251,600
Inco Ltd COM 453258402 3,855 111,900 SH SOLE 111,900
ING Groep NV COM 456837103 943 56,000 SH SOLE 56,000
Intel Corp COM 458140100 395 19,009 SH SOLE 19,009
InterActive Corp COM 45840Q101 372 15,400 SH SOLE 15,400
I B M Corp COM 459200101 1,088 15,520 SH SOLE 15,520
Intl Game Technology COM 459902102 55 1,600 SH SOLE 1,600
Intl Paper Co COM 460146103 1,312 40,660 SH SOLE 40,660
Intrawest Corp COM 460915200 76 4,400 SH SOLE 4,400
Amvescap PLC COM 461276891 267 85,500 SH SOLE 85,500
IPSCO Inc COM 462622101 317 16,700 SH SOLE 16,700
Ishares Tr COM 464287465 107,577 995,241 SH SOLE 995,241
Janus Capital Group COM 47102X105 15 1,200 SH SOLE 1,200
Johnson & Johnson COM 478160104 3,016 77,894 SH SOLE 77,894
Johnson Matthey PLC COM 479142309 1,184 47,000 SH SOLE 47,000
Kao Corp COM 485537302 945 5,400 SH SOLE 5,400
Kellogg Co COM 487836108 525 17,530 SH SOLE 17,530
Keyspan Corp COM 49337W100 111 3,800 SH SOLE 3,800
Kimberly Clark COM 494368103 660 13,710 SH SOLE 13,710
Kingsway Financial
Service Inc COM 496904103 198 17,200 SH SOLE 17,200
Kohls Corporation COM 500255104 574 15,570 SH SOLE 15,570
Kyocera Corporation COM 501556203 1,025 16,000 SH SOLE 16,000
Lamar Advertising Company COM 512815101 217 7,030 SH SOLE 7,030
Estee Lauder COM 518439104 71 2,100 SH SOLE 2,100
Leitch Technology Corp COM 52543H107 2,592 503,800 SH SOLE 503,800
Lilly (Eli) and Co COM 532457108 455 8,900 SH SOLE 8,900
Linear Technology COM 535678106 204 7,220 SH SOLE 7,220
Lockheed Martin Inc. COM 539830109 488 14,000 SH SOLE 14,000
Luxottica Group SPA COM 55068R202 48 4,000 SH SOLE 4,000
Mbna corp COM 55262L100 179 8,500 SH SOLE 8,500
MDS Inc COM 55269P302 18,851 1,122,500 SH SOLE 1,122,500
Magna International Inc COM 559222401 12,412 157,300 SH SOLE 157,300
Manpower Inc COM 56418H100 32 900 SH SOLE 900
Manulife Financial Corp COM 56501R106 28,736 775,200 SH SOLE 775,200
Marsh & Mclennan COM 571748102 74 2,100 SH SOLE 2,100
Matsushita Electric
Ind. Co COM 576879209 871 74,000 SH SOLE 74,000
Maxim Integrated Products COM 57772K101 202 5,640 SH SOLE 5,640
May Department Stores Co COM 577778103 499 18,900 SH SOLE 18,900
McDonalds Corporation COM 580135101 196 9,000 SH SOLE 9,000
Medtronic Inc COM 585055106 303 8,300 SH SOLE 8,300
Mellon Financial COM 58551A108 725 30,340 SH SOLE 30,340
Merck & Co Inc COM 589331107 219 6,500 SH SOLE 6,500
Mercury Interactive Corp COM 589405109 264 7,710 SH SOLE 7,710
Meridian Gold Inc COM 589975101 111 9,100 SH SOLE 9,100
Merrill Lynch & Co Inc COM 590188108 888 19,540 SH SOLE 19,540
Metlife Inc COM 59156R108 558 20,490 SH SOLE 20,490
Microsoft Corp COM 594918104 2,861 150,352 SH SOLE 150,352
Microchip Technology Inc COM 595017104 198 9,810 SH SOLE 9,810
Monsanto Co COM 61166W101 633 22,600 SH SOLE 22,600
Morgan Stanley Co COM 617446448 923 21,100 SH SOLE 21,100
Motorola Inc COM 620076109 161 12,000 SH SOLE 12,000
NCR Corporation COM 62886E108 508 15,100 SH SOLE 15,100
National Fuel Gas Company COM 636180101 88 4,700 SH SOLE 4,700
Network Associates COM 640938106 140 10,200 SH SOLE 10,200
Network Appliance Inc COM 64120L104 117 7,100 SH SOLE 7,100
New York Times Co COM 650111107 1,046 31,010 SH SOLE 31,010
Nexen Inc COM 65334H102 11,624 298,000 SH SOLE 298,000
Nike Inc COM 654106103 267 4,500 SH SOLE 4,500
Nippon Tel & Tel Co COM 654624105 1,785 82,500 SH SOLE 82,500
Nokia Corp COM 654902204 77 5,000 SH SOLE 5,000
Nomura Holdings Inc COM 65535H208 1,810 130,000 SH SOLE 130,000
Noranda Inc COM 655422103 962 53,300 SH SOLE 53,300
Nortel Networks Corp COM 656568102 8,730 1,483,300 SH SOLE 1,483,300
Northern Trust Corp COM 665859104 174 4,900 SH SOLE 4,900
Northrop Grumman Corp COM 666807102 398 5,300 SH SOLE 5,300
Nova Chemicals Corp COM 66977W109 9,127 363,200 SH SOLE 363,200
Novartis AG COM 66987V109 2,127 65,400 SH SOLE 65,400
Novellus Systems Inc COM 670008101 240 9,940 SH SOLE 9,940
NSTAR COM 67019E107 112 2,900 SH SOLE 2,900
Occidental Petroleum COM 674599105 210 5,970 SH SOLE 5,970
Open Text COM 683715106 125 4,200 SH SOLE 4,200
Oracle Systems Corp COM 68389X105 319 34,786 SH SOLE 34,786
Outback Steakhouse COM 689899102 197 5,300 SH SOLE 5,300
PNC Financial
Services Group COM 693475105 309 7,300 SH SOLE 7,300
PPG Industries COM 693506107 495 11,120 SH SOLE 11,120
PPL Corporation COM 69351T106 145 4,160 SH SOLE 4,160
Pacific Sunwear of Calif COM 694873100 88 4,700 SH SOLE 4,700
Pearson Plc COM 705015105 53 6,000 SH SOLE 6,000
Pepsico Inc COM 713448108 818 19,890 SH SOLE 19,890
Petro Canada Limited COM 71644E102 796 18,100 SH SOLE 18,100
Petsmart Inc COM 716768106 120 5,800 SH SOLE 5,800
Pfizer Inc COM 717081103 3,555 132,852 SH SOLE 132,852
Phelps Dodge Corp COM 717265102 1,627 26,100 SH SOLE 26,100
Placer Dome Inc COM 725906101 27,561 1,530,500 SH SOLE 1,530,500
Potash Corp of Sask Inc COM 73755L107 225 2,700 SH SOLE 2,700
Praxair Inc COM 74005P104 95 3,340 SH SOLE 3,340
Precision Drilling Corp COM 74022D100 707 15,100 SH SOLE 15,100
Progress Energy Ltd COM 742981103 187 17,200 SH SOLE 17,200
Prudential Financial Inc COM 744320102 1,805 52,800 SH SOLE 52,800
QLT Inc COM 746927102 343 13,500 SH SOLE 13,500
Quebecor World Inc COM 748203106 9,030 487,800 SH SOLE 487,800
Reed Elsevier NV COM 758204101 939 46,400 SH SOLE 46,400
Research In Motion COM 760975102 135 1,900 SH SOLE 1,900
Research In Motion COM 760975102 271 2,900 SH SOLE 2,900
Rexam plc COM 761655406 466 14,600 SH SOLE 14,600
Rogers Communication
Class B COM 775109200 312 16,700 SH SOLE 16,700
Rogers Wireless
Communications COM 775315104 368 13,900 SH SOLE 13,900
Royal Bank of Canada COM 780087102 28,196 590,506 SH SOLE 590,506
Royal Dutch Petroleum Co COM 780257804 2,117 58,300 SH SOLE 58,300
SBC Communications COM 78387G103 3,163 168,850 SH SOLE 168,850
SLM Corporation COM 78442P106 172 5,390 SH SOLE 5,390
SPDR Trust COM 78462F103 144,297 1,671,343 SH SOLE 1,671,343
Samsung SDI Co COM 796054203 376 13,600 SH SOLE 13,600
Sara Lee Corp COM 803111103 142 8,500 SH SOLE 8,500
Schlumberger Ltd COM 806857108 344 7,060 SH SOLE 7,060
Sears Roebuck & Co COM 812387108 89 2,700 SH SOLE 2,700
Secom Company Ltd COM 813113206 67 1,000 SH SOLE 1,000
Energy Select Sector SPDR COM 81369Y506 2,094 93,500 SH SOLE 93,500
Siemens AG COM 826197501 1,798 31,800 SH SOLE 31,800
Smurfit Stone Container COM 832727101 184 13,700 SH SOLE 13,700
Southtrust Corp COM 844730101 151 5,950 SH SOLE 5,950
Southwest Airlines COM 844741108 229 21,100 SH SOLE 21,100
Sprint Corp PCS Group COM 852061506 321 45,690 SH SOLE 45,690
Stanley Works COM 854616109 613 18,800 SH SOLE 18,800
Staples Inc COM 855030102 763 39,460 SH SOLE 39,460
Starwood Hotels & Resorts COM 85590A203 155 5,000 SH SOLE 5,000
Suncor Energy Inc COM 867229106 1,667 60,700 SH SOLE 60,700
Suntrust Banks Inc COM 867914103 671 12,610 SH SOLE 12,610
Superior Industries Int'l COM 868168105 917 33,900 SH SOLE 33,900
Symantec Corp COM 871503108 223 6,300 SH SOLE 6,300
Synovus Financial Corp COM 87161C105 - - SH SOLE -
TJX Companies Inc COM 872540109 69 3,700 SH SOLE 3,700
TLC Vision Corp COM 872549100 117 10,200 SH SOLE 10,200
TXU Corp COM 873168108 260 11,900 SH SOLE 11,900
Talisman Energy Inc COM 87425E103 937 15,900 SH SOLE 15,900
Target Corp COM 87612E106 682 19,830 SH SOLE 19,830
Telefonos de Mexico
S A de C V COM 879403780 847 31,800 SH SOLE 31,800
Telus Corp COM 87971M202 80 4,772 SH SOLE 4,772
Texas Instruments Inc COM 882508104 420 18,830 SH SOLE 18,830
Thermo Electron Corp COM 883556102 205 9,500 SH SOLE 9,500
Thomson Corp COM 884903105 675 21,800 SH SOLE 21,800
3M Company COM 88579Y101 62 1,000 SH SOLE 1,000
Timberland Company COM 887100105 917 20,200 SH SOLE 20,200
Time Warner Inc COM 887317105 1,494 116,060 SH SOLE 116,060
Tomkins PLC COM 890030208 1,385 92,400 SH SOLE 92,400
Toronto Dominion Bank COM 891160509 13,109 372,100 SH SOLE 372,100
Toyota Motor Corporation COM 892331307 1,024 18,000 SH SOLE 18,000
TransCanada Corp COM 89353D107 22,914 1,061,421 SH SOLE 1,061,421
Travelers Property
Casualty COM 89420G109 411 31,400 SH SOLE 31,400
Travelers Property
Casualty COM 89420G406 761 57,700 SH SOLE 57,700
Tribune Co COM 896047107 462 12,000 SH SOLE 12,000
Tyco Intl Ltd COM 902124106 1,133 51,800 SH SOLE 51,800
Tyson Foods Inc COM 902494103 68 4,900 SH SOLE 4,900
UST Inc COM 902911106 1,711 62,100 SH SOLE 62,100
Union Pacific Corp. COM 907818108 1,397 30,600 SH SOLE 30,600
United Technologies Corp COM 913017109 1,258 19,100 SH SOLE 19,100
Unocal Corp COM 915289102 478 16,800 SH SOLE 16,800
UPM Kymmene Corporation COM 915436109 748 53,000 SH SOLE 53,000
Vasogen Inc COM 92232F103 91 14,700 SH SOLE 14,700
Veritas Software Corp COM 923436109 371 18,060 SH SOLE 18,060
Verizon Comm COM 92343V104 3,035 108,800 SH SOLE 108,800
Verizon Comm COM 92343V104 3,035 108,800 SH SOLE 108,800
Viacom Inc COM 925524308 1,710 56,650 SH SOLE 56,650
Vodafone Group Plc COM 92857W100 109 6,000 SH SOLE 6,000
Volvo AB COM 928856400 908 36,000 SH SOLE 36,000
WPP Group PLC COM 929309300 58 1,500 SH SOLE 1,500
Wal Mart Stores Inc COM 931142103 499 10,960 SH SOLE 10,960
Walgreen Co COM 931422109 185 7,340 SH SOLE 7,340
Waters Corp COM 941848103 302 9,700 SH SOLE 9,700
Wendys International Inc COM 950590109 115 3,700 SH SOLE 3,700
Westwood One COM 961815107 246 10,930 SH SOLE 10,930
Wyeth COM 983024100 2,269 79,160 SH SOLE 79,160
Xilinx COM 983919101 276 9,590 SH SOLE 9,590
Xerox Corp COM 984121103 503 45,200 SH SOLE 45,200
Yukos COM 98849W108 48 1,100 SH SOLE 1,100
Zarlink Semiconductor COM 989139100 173 45,900 SH SOLE 45,900
Deutsche Bank AG COM D18190898 191 3,000 SH SOLE 3,000
Cooper Industries LTD COM G24182100 100 2,300 SH SOLE 2,300
GlobalSantafe Corp COM G3930E101 70 3,300 SH SOLE 3,300
Noble Corp COM G65422100 311 10,600 SH SOLE 10,600
Transocean Inc COM G90078109 933 43,800 SH SOLE 43,800
Check Point Software
Tech Ltd COM M22465104 992 57,100 SH SOLE 57,100
1,540,533