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: Candice Shaw
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Title: Vice-President, Investments
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Phone: 416-979-6187
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Signature, Place, and Date of Signing:
/s/ Candice Shaw 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: 423
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Form 13F Information Table Value Total: $ 1,537,262
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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, 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 8,881 436,003 SH SOLE 436,003
AMR CORP COM 001765106 399 32,953 SH SOLE 32,953
AGERE SYS INC CL B 00845V209 9,268 4,310,737 SH SOLE 4,310,737
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 8,438 148,603 SH SOLE 148,603
ALLMERICA FINL CORP COM 019754100 8,368 247,575 SH SOLE 247,575
ALPHARMA INC CL A 020813101 9,111 444,871 SH SOLE 444,871
AMERICAN FINL RLTY TR COM 02607P305 8,066 564,465 SH SOLE 564,465
ANNALY MTG MGMT INC COM 035710409 20,312 1,197,652 SH SOLE 1,197,652
AON CORP COM 037389103 8,159 286,585 SH SOLE 286,585
ARCHER DANIELS MIDLAND CO COM 039483102 8,338 496,874 SH SOLE 496,874
ARCHSTONE SMITH TR COM 039583109 9,311 317,457 SH SOLE 317,457
ARRIS GROUP INC COM 04269Q100 5,280 888,885 SH SOLE 888,885
ASCENTIAL SOFTWARE CORP COM NEW 04362P207 4,537 283,730 SH SOLE 283,730
AVALONBAY CMNTYS INC COM 053484101 11,060 195,681 SH SOLE 195,681
BRE PROPERTIES INC CL A 05564E106 8,655 249,078 SH SOLE 249,078
BAXTER INTL INC COM 071813109 12,449 360,746 SH SOLE 360,746
BRISTOL MYERS SQUIBB CO COM 110122108 8,471 345,763 SH SOLE 345,763
BROCADE COMMUNICATIONS SYS I COM 111621108 9,135 1,527,578 SH SOLE 1,527,578
CBL & ASSOC PPTYS INC COM 124830100 3,649 66,351 SH SOLE 66,351
C COR NET CORP COM 125010108 4,703 457,000 SH SOLE 457,000
CABLEVISION SYS CORP CL A NY CABLVS 12686C109 8,650 440,227 SH SOLE 440,227
CADENCE DESIGN SYSTEM INC COM 127387108 8,189 559,749 SH SOLE 559,749
CALPINE CORP COM 131347106 11,169 2,585,368 SH SOLE 2,585,368
CARRAMERICA RLTY CORP COM 144418100 6,605 218,479 SH SOLE 218,479
CENTERPOINT PPTYS TR COM 151895109 3,972 103,500 SH SOLE 103,500
CLEAN HARBORS INC COM 184496107 6,243 658,517 SH SOLE 658,517
COMCAST CORP NEW CL A 20030N101 13,037 463,951 SH SOLE 463,951
CONCORD COMMUNICATIONS INC COM 206186108 4,430 388,280 SH SOLE 388,280
CONSOL ENERGY INC COM 20854P109 6,665 185,138 SH SOLE 185,138
CRESCENT REAL ESTATE EQUITIE COM 225756105 5,257 326,106 SH SOLE 326,106
DELTA & PINE LD CO COM 247357106 4,348 198,100 SH SOLE 198,100
DEVELOPERS DIVERSIFIED RLTY COM 251591103 9,727 275,008 SH SOLE 275,008
DUKE REALTY CORP COM NEW 264411505 5,007 157,402 SH SOLE 157,402
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
------------------------------- -------------- --------- -------- --------- --- ---- ---------- -------- ---- ------ ----
EASTMAN KODAK CO COM 277461109 8,342 309,205 SH SOLE 309,205
ECHOSTAR COMMUNICATIONS NEW CL A 278762109 12,461 405,247 SH SOLE 405,247
ECLIPSYS CORP COM 278856109 4,849 317,772 SH SOLE 317,772
EQUITY OFFICE PROPERTIES TRU COM 294741103 3,764 138,394 SH SOLE 138,394
EQUITY RESIDENTIAL SH BEN INT 29476L107 10,427 350,714 SH SOLE 350,714
EXIDE TECHNOLOGIES COM NEW 302051206 4,560 222,967 SH SOLE 222,967
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 168 4,043 SH SOLE 4,043
FELCOR LODGING TR INC COM 31430F101 5,065 418,615 SH SOLE 418,615
GATX CORP COM 361448103 12,154 446,843 SH SOLE 446,843
GENERAL GROWTH PPTYS INC COM 370021107 7,015 237,247 SH SOLE 237,247
GRANT PRIDECO INC COM 38821G101 8,593 465,479 SH SOLE 465,479
HOST MARRIOTT CORP NEW COM 44107P104 4,598 372,038 SH SOLE 372,038
INTERACTIVECORP COM 45840Q101 8,409 279,009 SH SOLE 279,009
INTL PAPER CO COM 460146103 9,137 204,413 SH SOLE 204,413
ISHARES INC MSCI AUSTRALIA 464286103 986 73,498 SH SOLE 73,498
ISHARES INC MSCI BELGIUM 464286301 187 12,969 SH SOLE 12,969
ISHARES INC MSCI SINGAPORE 464286673 211 33,739 SH SOLE 33,739
ISHARES INC MSCI UTD KINGD 464286699 5,483 339,492 SH SOLE 339,492
ISHARES INC MSCI FRANCE 464286707 1,815 85,725 SH SOLE 85,725
ISHARES INC MSCI SWITZERLD 464286749 1,390 91,331 SH SOLE 91,331
ISHARES INC MSCI SWEDEN 464286756 884 50,258 SH SOLE 50,258
ISHARES INC MSCI SPAIN 464286764 893 31,549 SH SOLE 31,549
ISHARES INC MSCI GERMAN 464286806 1,323 81,933 SH SOLE 81,933
ISHARES INC MSCI NETHERLND 464286814 994 59,958 SH SOLE 59,958
ISHARES INC MSCI JAPAN 464286848 4,966 467,581 SH SOLE 467,581
ISHARES INC MSCI ITALY 464286855 781 37,121 SH SOLE 37,121
ISHARES INC MSCI HONG KONG 464286871 682 67,290 SH SOLE 67,290
KIMCO REALTY CORP COM 49446R109 7,625 167,584 SH SOLE 167,584
MACERICH CO COM 554382101 9,544 199,369 SH SOLE 199,369
MACK CALI RLTY CORP COM 554489104 7,186 173,660 SH SOLE 173,660
MARSH & MCLENNAN COS INC COM 571748102 8,475 186,750 SH SOLE 186,750
MEDIMMUNE INC COM 584699102 3,915 167,400 SH SOLE 167,400
MERCK & CO INC COM 589331107 8,168 171,949 SH SOLE 171,949
MERISTAR HOSPITALITY CORP COM 58984Y103 4,672 683,016 SH SOLE 683,016
MICRON TECHNOLOGY INC COM 595112103 8,931 583,324 SH SOLE 583,324
MONSANTO CO NEW COM 61166W101 8,981 233,278 SH SOLE 233,278
NRG ENERGY INC COM NEW 629377508 15,128 609,989 SH SOLE 609,989
OSHKOSH B GOSH INC CL A 688222207 4,968 198,964 SH SOLE 198,964
PARAMETRIC TECHNOLOGY CORP COM 699173100 4,597 919,400 SH SOLE 919,400
PERFORMANCE FOOD GROUP CO COM 713755106 4,386 165,255 SH SOLE 165,255
PFIZER INC COM 717081103 7,831 228,435 SH SOLE 228,435
PHELPS DODGE CORP COM 717265102 8,878 114,539 SH SOLE 114,539
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
------------------------------- -------------- --------- -------- --------- --- ---- ---------- -------- ---- ------ ----
PROLOGIS SH BEN INT 743410102 8,121 246,697 SH SOLE 246,697
PRUDENTIAL FINL INC COM 744320102 8,569 184,401 SH SOLE 184,401
PUBLIC STORAGE INC COM 74460D109 3,646 79,252 SH SOLE 79,252
RECKSON ASSOCS RLTY CORP COM 75621K106 7,018 255,581 SH SOLE 255,581
REGENCY CTRS CORP COM 758849103 4,740 110,483 SH SOLE 110,483
REVLON INC CL A 761525500 8,573 2,906,000 SH SOLE 2,906,000
ROCKWELL AUTOMATION INC COM 773903109 10,585 282,199 SH SOLE 282,199
SL GREEN RLTY CORP COM 78440X101 10,398 222,172 SH SOLE 222,172
SCHERING PLOUGH CORP COM 806605101 8,834 478,026 SH SOLE 478,026
SHURGARD STORAGE CTRS INC COM 82567D104 7,909 211,469 SH SOLE 211,469
SIMON PPTY GROUP INC NEW COM 828806109 6,272 121,972 SH SOLE 121,972
SMITHFIELD FOODS INC COM 832248108 4,265 145,056 SH SOLE 145,056
TIMKEN CO COM 887389104 9,958 375,900 SH SOLE 375,900
TRINITY INDS INC COM 896522109 9,075 285,468 SH SOLE 285,468
UNION PAC CORP COM 907818108 8,318 139,919 SH SOLE 139,919
UNITED DOMINION REALTY TR IN COM 910197102 5,142 259,978 SH SOLE 259,978
UNOVA INC COM 91529B106 5,529 273,050 SH SOLE 273,050
UNUMPROVIDENT CORP COM 91529Y106 10,231 643,464 SH SOLE 643,464
VICOR CORP COM 925815102 8,532 466,994 SH SOLE 466,994
VORNADO RLTY TR SH BEN INT 929042109 9,662 169,185 SH SOLE 169,185
WARNACO GROUP INC COM NEW 934390402 4,840 227,562 SH SOLE 227,562
WILLIAMS COS INC DEL COM 969457100 8,670 728,545 SH SOLE 728,545
BUNGE LIMITED COM G16962105 9,894 254,076 SH SOLE 254,076
NABORS INDUSTRIES LTD SHS G6359F103 6,764 149,573 SH SOLE 149,573
ORIENT-EXPRESS HOTELS LTD CL A G67743107 6,141 362,528 SH SOLE 362,528
TRANSOCEAN INC ORD G90078109 7,076 244,519 SH SOLE 244,519
CANADIAN OPERATIONS - AMOUNTS
SHOWN ARE IN U.S. DOLLARS
ABB Ltd COM 000375204 884 215,000 SH SOLE 215,000
Aflac Inc COM 001055102 109 3,600 SH SOLE 3,600
Agco Corp COM 001084102 493 32,700 SH SOLE 32,700
ATI Technologies Inc COM 001941103 352 18,900 SH SOLE 18,900
Abbot Laboratories COM 002824100 1,114 36,900 SH SOLE 36,900
Aber Diamond Corporation COM 002893105 429 14,600 SH SOLE 14,600
Abitibi-Consolidated Inc COM 003924107 583 86,000 SH SOLE 86,000
Adtran Inc COM 00738A106 294 11,900 SH SOLE 11,900
Agrium Inc COM 008916108 237 16,400 SH SOLE 16,400
Air Products & Chemical Inc COM 009158106 378 9,720 SH SOLE 9,720
Ajinomoto COM 009707100 837 9,500 SH SOLE 9,500
Akamai Technologies COM 00971T101 265 19,900 SH SOLE 19,900
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
------------------------------- -------------- --------- -------- --------- --- ---- ---------- -------- ---- ------ ----
Electrolux AB COM 010198208 806 28,300 SH SOLE 28,300
Alcan Inc COM 013716105 16,635 406,825 SH SOLE 406,825
Alcoa Inc COM 013817101 658 26,900 SH SOLE 26,900
Alliance Atlantis Comm Inc COM 01853E204 510 27,600 SH SOLE 27,600
Allstate Corp COM 020002101 1,755 50,910 SH SOLE 50,910
Altria Group COM 02209S103 1,603 43,231 SH SOLE 43,231
American Express Co COM 025816109 850 22,330 SH SOLE 22,330
American International Group COM 026874107 625 11,840 SH SOLE 11,840
AmerisourceBergen Corporation COM 03073E105 195 4,400 SH SOLE 4,400
Amgen Inc COM 031162100 508 12,560 SH SOLE 12,560
Amvescap PLC COM 03235E100 93 9,000 SH SOLE 9,000
Analog Devices COM 032654105 499 14,300 SH SOLE 14,300
Andrew Corp COM 034425108 723 48,800 SH SOLE 48,800
Angiotech Pharmaceuticals Inc COM 034918102 458 22,700 SH SOLE 22,700
Apache Corporation COM 037411105 573 17,760 SH SOLE 17,760
Apollo Group Inc COM 037604105 170 2,600 SH SOLE 2,600
Archer-Daniel Midland COM 039483102 474 38,140 SH SOLE 38,140
Astrazeneca PLC COM 046353108 74 2,200 SH SOLE 2,200
Atlas Energy Ltd COM 049300106 39 17,200 SH SOLE 17,200
Avery Dennison Corp COM 053611109 844 17,800 SH SOLE 17,800
Avon Products COM 054303102 212 6,200 SH SOLE 6,200
BCE Inc COM 05534B109 27,647 1,397,892 SH SOLE 1,397,892
BG Group COM 055434203 47 2,000 SH SOLE 2,000
BP PLC COM 055622104 1,762 44,400 SH SOLE 44,400
Bank of America Corp COM 060505104 3,524 56,216 SH SOLE 56,216
Bank of Montreal COM 063671101 13,809 349,300 SH SOLE 349,300
Bank of Nova Scotia COM 064149107 26,635 1,003,820 SH SOLE 1,003,820
Bank One Corp COM 06423A103 440 11,650 SH SOLE 11,650
Bard C.R COM 067383109 306 7,300 SH SOLE 7,300
Barclays PLC COM 06738E204 899 34,800 SH SOLE 34,800
Barrick Gold Corp COM 067901108 20 1,033,200 SH SOLE 1,033,200
Baxter Intl Inc COM 071813109 107 4,200 SH SOLE 4,200
Beckman Coulter Inc COM 075811109 465 10,300 SH SOLE 10,300
Bema Gold Corp COM 08135F107 144 53,300 SH SOLE 53,300
Best Buy Co COM 086516101 752 20,000 SH SOLE 20,000
Bowater Inc COM 102183100 119 3,860 SH SOLE 3,860
Brascan Corporation COM 10549P606 245 8,850 SH SOLE 8,850
Brasil Telecom Part SA COM 105530109 234 10,300 SH SOLE 10,300
Bristol-Myers Squibb Co COM 110122108 760 41,877 SH SOLE 41,877
Burlington North Santa Fe COM 12189T104 260 10,000 SH SOLE 10,000
CAE Inc COM 124765108 343 76,800 SH SOLE 76,800
CHC Helicopter Corp COM 12541C203 90 3,100 SH SOLE 3,100
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
------------------------------- -------------- --------- -------- --------- --- ---- ---------- -------- ---- ------ ----
CVS Corp COM 126650100 428 13,750 SH SOLE 13,750
Cameco Corp COM 13321L108 486 8,400 SH SOLE 8,400
Cdn Imp Bank of Commerce COM 136069101 13,252 274,390 SH SOLE 274,390
Cdn National Railways COM 136375102 310 9,600 SH SOLE 9,600
Cdn National Railways COM 136375102 21,367 499,410 SH SOLE 499,410
Canadian Nat Resources Ltd COM 136385101 1,454 49,000 SH SOLE 49,000
Canadian Nat Resources Ltd COM 136385101 1,454 49,000 SH SOLE 49,000
Canadian Pacific Railway Co COM 13645T100 6,538 269,520 SH SOLE 269,520
Canfor Corporation COM 137902102 333 29,600 SH SOLE 29,600
Canon Inc COM 138006309 1,768 44,700 SH SOLE 44,700
Cardinal Health Inc COM 14149Y108 892 17,200 SH SOLE 17,200
Career Education Corp COM 141665109 166 4,920 SH SOLE 4,920
Carnival Corp COM 143658300 937 26,900 SH SOLE 26,900
Caterpillar Inc COM 149123101 253 4,300 SH SOLE 4,300
Cedera Software Corp COM 150644102 79 10,400 SH SOLE 10,400
Celestica Inc COM 15101Q108 548 27,700 SH SOLE 27,700
Celgene Corp COM 151020104 144 3,400 SH SOLE 3,400
ChevronTexaco Corp COM 166764100 244 3,500 SH SOLE 3,500
Chubb Corporation COM 171232101 140 2,770 SH SOLE 2,770
Cinergy Corp COM 172474108 169 6,000 SH SOLE 6,000
Cisco Systems COM 17275R102 1,073 61,110 SH SOLE 61,110
Citigroup Inc COM 172967101 2,883 83,700 SH SOLE 83,700
Clear Channel Comm COM 184502102 448 16,350 SH SOLE 16,350
Coach Inc COM 189754104 110 3,300 SH SOLE 3,300
Cognos Inc COM 19244C109 500 14,000 SH SOLE 14,000
Colgate Palmolive COM 194162103 1,238 28,600 SH SOLE 28,600
Comcast Corporation COM 20030N101 397 19,100 SH SOLE 19,100
Comcast Corporation COM 20030N200 429 21,000 SH SOLE 21,000
Cia De Minas Buenaventur COM 204448104 56 3,400 SH SOLE 3,400
ConocoPhillips Inc COM 20825C104 739 13,080 SH SOLE 13,080
Corning Inc COM 219350105 213 22,000 SH SOLE 22,000
Corus Entertainment COM 220874101 208 10,800 SH SOLE 10,800
Cott Corp COM 22163N106 385 12,000 SH SOLE 12,000
Cox Communications Inc COM 224044107 385 18,680 SH SOLE 18,680
CP Ships Ltd COM 22409V102 12,538 715,700 SH SOLE 715,700
Creo COM 225606102 96 11,100 SH SOLE 11,100
Crystallex COM 22942F101 80 31,200 SH SOLE 31,200
John Deere & Co. COM 244199105 331 6,370 SH SOLE 6,370
Dell Inc COM 24702R101 612 23,060 SH SOLE 23,060
Descartes Systems Group Inc. COM 249906108 29 26,700 SH SOLE 26,700
Deutsche Telecom COM 251566105 453 34,500 SH SOLE 34,500
Devon Energy Corp COM 25179M103 131 2,680 SH SOLE 2,680
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
------------------------------- -------------- --------- -------- --------- --- ---- ---------- -------- ---- ------ ----
Diageo PLC COM 25243Q205 1,744 43,000 SH SOLE 43,000
Disney Walt Co COM 254687106 81 4,300 SH SOLE 4,300
Dominion Resources Inc COM 25746U109 276 5,900 SH SOLE 5,900
Domtar Inc. COM 257561100 11,714 918,900 SH SOLE 918,900
Dorel Industries Inc COM 25822C205 100 3,100 SH SOLE 3,100
Dover Corporation COM 260003108 465 14,900 SH SOLE 14,900
Dow Chemical Company COM 260543103 329 10,920 SH SOLE 10,920
Draxis Health Inc COM 26150J101 126 27,600 SH SOLE 27,600
DuPont (E.I.) De Nemours COM 263534109 457 13,900 SH SOLE 13,900
Duke Energy Corporation COM 264399106 275 18,300 SH SOLE 18,300
EOG Resources COM 26875P101 137 3,100 SH SOLE 3,100
E ON AG COM 268780103 1,729 32,200 SH SOLE 32,200
Ebay COM 278642103 456 6,700 SH SOLE 6,700
Echostar Communications COM 278762109 182 8,000 SH SOLE 8,000
Eldorado Gold Corp COM 284902103 126 49,100 SH SOLE 49,100
Emerson Electric Co COM 291011104 683 14,500 SH SOLE 14,500
EnCana Corporation COM 292505104 24,091 564,440 SH SOLE 564,440
Enbridge Inc COM 29250N105 6,386 177,000 SH SOLE 177,000
Energy East Corporation COM 29266M109 176 9,800 SH SOLE 9,800
Entergy Corp COM 29364G103 183 4,400 SH SOLE 4,400
Entrust Inc COM 293848107 58 17,500 SH SOLE 17,500
Exelon Corp COM 30161N101 74 3,000 SH SOLE 3,000
Extendicare Inc COM 30224T871 228 20,500 SH SOLE 20,500
Exxon Mobil Corp COM 30231G102 814 24,750 SH SOLE 24,750
Fairfax Financial COM 303901102 84 500 SH SOLE 500
Fairmont Hotels COM 305204109 289 10,825 SH SOLE 10,825
Federal National Mtge Assoc COM 313586109 1,089 20,600 SH SOLE 20,600
Federated Dep Stores COM 31410H101 720 19,800 SH SOLE 19,800
Fedex Corporation COM 31428X106 309 5,100 SH SOLE 5,100
First Data Corp COM 319963104 1,447 43,874 SH SOLE 43,874
Firstservice Corporation COM 33761N109 121 4,900 SH SOLE 4,900
Fiserv Inc COM 337738108 248 8,600 SH SOLE 8,600
First Energy Corp COM 337932107 80 2,880 SH SOLE 2,880
Fluor Corporation COM 343412102 1,610 45,600 SH SOLE 45,600
Fox Entertainment COM 35138T107 36 1,800 SH SOLE 1,800
Franklin Resources Inc COM 354613101 108 2,900 SH SOLE 2,900
Freeport McMoran Copper COM 35671D857 555 22,600 SH SOLE 22,600
GSI Lumonics Inc COM 36229U102 401 23,900 SH SOLE 23,900
Gannett Co COM 364730101 918 14,600 SH SOLE 14,600
Genentech Inc COM 368710406 97 2,340 SH SOLE 2,340
General Dynamic Sys COM 369550108 949 12,900 SH SOLE 12,900
General Elec Co COM 369604103 1,521 63,371 SH SOLE 63,371
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
------------------------------- -------------- --------- -------- --------- --- ---- ---------- -------- ---- ------ ----
Genzyme Corp COM 372917104 519 14,800 SH SOLE 14,800
Getty Images Inc COM 374276103 182 4,100 SH SOLE 4,100
Gilead Sciences COM 375558103 531 10,700 SH SOLE 10,700
Gildan Activewear Inc COM 375916103 623 22,000 SH SOLE 22,000
Glamis Gold COM 376775102 497 28,600 SH SOLE 28,600
Glaxosmithkline Plc COM 37733W105 2,509 81,700 SH SOLE 81,700
Gold Fields Ltd COM 38059T106 1,536 197,300 SH SOLE 197,300
Goldcorp Inc COM 380956409 149 12,900 SH SOLE 12,900
Goldman Sachs Group COM 38141G104 1,377 19,740 SH SOLE 19,740
Group CGI COM 39945C109 13,562 2,023,000 SH SOLE 2,023,000
Grupo Televisa SA COM 40049J206 255 7,600 SH SOLE 7,600
Guidant Corp COM 401698105 270 6,530 SH SOLE 6,530
HCA Inc COM 404119109 145 4,700 SH SOLE 4,700
HSBC Holdings Plc COM 404280406 1,243 22,400 SH SOLE 22,400
Harley Davidson Inc COM 412822108 156 3,400 SH SOLE 3,400
Hartford Financial Services COM 416515104 534 10,480 SH SOLE 10,480
Hasbro Inc COM 418056107 533 37,900 SH SOLE 37,900
HBOS PLC COM 42205M106 1,474 52,700 SH SOLE 52,700
Heinz H J Co COM 423074103 316 10,870 SH SOLE 10,870
Hewlett Packard Co COM 428236103 580 37,100 SH SOLE 37,100
Honeywell International Inc COM 438516106 1,338 49,300 SH SOLE 49,300
Hummingbird LTD COM 44544R101 211 9,400 SH SOLE 9,400
Hydrogenics Corporation COM 448882100 162 33,900 SH SOLE 33,900
Illinois Tool Works Inc COM 452308109 263 3,700 SH SOLE 3,700
Imperial Oil Ltd COM 453038408 11,870 256,800 SH SOLE 256,800
Inco Ltd COM 453258402 1,506 44,200 SH SOLE 44,200
ING Groep NV COM 456837103 983 56,000 SH SOLE 56,000
Intel Corp COM 458140100 611 29,909 SH SOLE 29,909
InterActive Corp COM 45840Q101 205 9,200 SH SOLE 9,200
I B M Corp COM 459200101 866 13,270 SH SOLE 13,270
Intl Paper Co COM 460146103 439 13,260 SH SOLE 13,260
Amvescap PLC COM 461276891 238 85,500 SH SOLE 85,500
IPSCO Inc COM 462622101 372 16,700 SH SOLE 16,700
Ishares Tr COM 464287465 120,569 1,138,241 SH SOLE 1,138,241
Johnson & Johnson COM 478160104 2,838 68,794 SH SOLE 68,794
Johnson Matthey PLC COM 479142309 1,212 48,000 SH SOLE 48,000
Kao Corp COM 485537302 972 5,400 SH SOLE 5,400
Kellogg Co COM 487836108 503 16,230 SH SOLE 16,230
Keyspan Corp COM 49337W100 103 3,800 SH SOLE 3,800
Kimberly Clark COM 494368103 601 12,310 SH SOLE 12,310
Kingsway Financial Service Inc COM 496904103 202 17,200 SH SOLE 17,200
Kohls Corporation COM 500255104 441 14,070 SH SOLE 14,070
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
------------------------------- -------------- --------- -------- --------- --- ---- ---------- -------- ---- ------ ----
Kyocera Corporation COM 501556203 159 2,500 SH SOLE 2,500
Lamar Advertising Company COM 512815101 91 2,830 SH SOLE 2,830
Estee Lauder COM 518439104 76 2,100 SH SOLE 2,100
LEXMARK INTERNATIONAL INC COM 529771107 236 3,300 SH SOLE 3,300
Lilly (Eli) and Co COM 532457108 647 12,500 SH SOLE 12,500
Linear Technology COM 535678106 156 5,320 SH SOLE 5,320
Lockheed Martin Inc. COM 539830109 1,724 44,700 SH SOLE 44,700
Lowe's Cos Inc COM 548661107 257 6,600 SH SOLE 6,600
Luxottica Group SPA COM 55068R202 50 4,000 SH SOLE 4,000
Mbna corp COM 55262L100 283 14,800 SH SOLE 14,800
MDS Inc COM 55269P302 19,839 1,300,100 SH SOLE 1,300,100
Magna International Inc COM 559222401 13,913 165,300 SH SOLE 165,300
Manpower Inc COM 56418H100 34 900 SH SOLE 900
Manulife Financial Corp COM 56501R106 334 11,142 SH SOLE 11,142
Manulife Financial Corp COM 56501R106 26,404 659,500 SH SOLE 659,500
Marsh & Mclennan COM 571748102 71 2,100 SH SOLE 2,100
Masco Corp COM 574599106 171 7,400 SH SOLE 7,400
Masonite International Corp COM 575384102 230 9,000 SH SOLE 9,000
Matsushita Electric Ind. Co COM 576879209 787 74,000 SH SOLE 74,000
Maxim Integrated Products COM 57772K101 165 4,240 SH SOLE 4,240
McDonalds Corporation COM 580135101 173 9,000 SH SOLE 9,000
McKesson Corp COM 58155Q103 292 11,500 SH SOLE 11,500
MeadWestvaco COM 583334107 762 35,000 SH SOLE 35,000
Medtronic Inc COM 585055106 549 15,200 SH SOLE 15,200
Mellon Financial COM 58551A108 509 23,424 SH SOLE 23,424
Merck & Co Inc COM 589331107 229 6,500 SH SOLE 6,500
Meridian Gold Inc COM 589975101 346 27,100 SH SOLE 27,100
Merrill Lynch & Co Inc COM 590188108 641 16,040 SH SOLE 16,040
Metlife Inc COM 59156R108 544 20,490 SH SOLE 20,490
Microsoft Corp COM 594918104 3,124 147,652 SH SOLE 147,652
Monsanto Co COM 61166W101 645 22,600 SH SOLE 22,600
Morgan Stanley Co COM 617446448 1,356 34,700 SH SOLE 34,700
Motorola Inc COM 620076109 77 5,700 SH SOLE 5,700
NCR Corporation COM 62886E108 555 15,100 SH SOLE 15,100
National Fuel Gas Company COM 636180101 87 4,700 SH SOLE 4,700
National Grid Transco PLC COM 636274102 862 29,700 SH SOLE 29,700
Network Appliance Inc COM 64120L104 59 3,700 SH SOLE 3,700
Neurochem Inc COM 64125K101 164 7,900 SH SOLE 7,900
New York Times Co COM 650111107 858 25,900 SH SOLE 25,900
Nexen Inc COM 65334H102 12,002 311,600 SH SOLE 311,600
Nike Inc COM 654106103 253 4,500 SH SOLE 4,500
Nippon Tel & Tel Co COM 654624105 1,193 60,000 SH SOLE 60,000
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
------------------------------- -------------- --------- -------- --------- --- ---- ---------- -------- ---- ------ ----
Nomura Holdings Inc COM 65535H208 1,417 128,000 SH SOLE 128,000
Noranda Inc COM 655422103 906 53,300 SH SOLE 53,300
Nortel Networks Corp COM 656568102 9,185 1,853,500 SH SOLE 1,853,500
Northrop Grumman Corp COM 666807102 422 10,600 SH SOLE 10,600
Nova Chemicals Corp COM 66977W109 12,933 452,800 SH SOLE 452,800
Novartis AG COM 66987V109 2,156 65,400 SH SOLE 65,400
Novellus Systems Inc COM 670008101 320 13,740 SH SOLE 13,740
NSTAR COM 67019E107 74 2,100 SH SOLE 2,100
Occidental Petroleum COM 674599105 214 5,970 SH SOLE 5,970
Oracle Systems Corp COM 68389X105 214 24,186 SH SOLE 24,186
Outback Steakhouse COM 689899102 162 5,300 SH SOLE 5,300
PNC Financial Services Group COM 693475105 377 9,600 SH SOLE 9,600
PPG Industries COM 693506107 515 11,120 SH SOLE 11,120
PPL Corporation COM 69351T106 141 4,160 SH SOLE 4,160
Pacific Sunwear of Calif COM 694873100 168 11,600 SH SOLE 11,600
Pearson Plc COM 705015105 65 7,000 SH SOLE 7,000
Pepsico Inc COM 713448108 666 16,690 SH SOLE 16,690
Petro Canada Limited COM 71644E102 1,644 38,500 SH SOLE 38,500
Petsmart Inc COM 716768106 226 9,400 SH SOLE 9,400
Pfizer Inc COM 717081103 3,810 150,052 SH SOLE 150,052
Phelps Dodge Corp COM 717265102 580 10,100 SH SOLE 10,100
Placer Dome Inc COM 725906101 25,133 1,514,700 SH SOLE 1,514,700
Potash Corp of Sask Inc COM 73755L107 162 1,700 SH SOLE 1,700
Praxair Inc COM 74005P104 99 3,340 SH SOLE 3,340
Precision Drilling Corp COM 74022D100 571 12,100 SH SOLE 12,100
Progress Energy Ltd COM 742981103 189 17,200 SH SOLE 17,200
Prudential Financial Inc COM 744320102 1,817 52,800 SH SOLE 52,800
QLT Inc COM 746927102 146 7,400 SH SOLE 7,400
Quebecor World Inc COM 748203106 6,130 281,500 SH SOLE 281,500
Red Hat Inc COM 756577102 216 12,700 SH SOLE 12,700
Reebok International Ltd COM 758110100 197 7,400 SH SOLE 7,400
Reed Elsevier NV COM 758204101 935 44,400 SH SOLE 44,400
Research In Motion COM 760975102 309 6,100 SH SOLE 6,100
Rexam plc COM 761655406 838 27,300 SH SOLE 27,300
Rogers Communication Class B COM 775109200 1,324 74,000 SH SOLE 74,000
Rogers Wireless Communications COM 775315104 550 20,300 SH SOLE 20,300
Royal Bank of Canada COM 780087102 30,192 689,306 SH SOLE 689,306
Royal Dutch Petroleum Co COM 780257804 1,286 33,600 SH SOLE 33,600
SBC Communications COM 78387G103 2,843 158,250 SH SOLE 158,250
SPDR Trust COM 78462F103 147,217 1,735,443 SH SOLE 1,735,443
SAFECO Corporation COM 786429100 756 23,200 SH SOLE 23,200
St Paul Companies COM 792860108 409 13,608 SH SOLE 13,608
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
------------------------------- -------------- --------- -------- --------- --- ---- ---------- -------- ---- ------ ----
Samsung SDI Co COM 796054203 263 13,600 SH SOLE 13,600
Sara Lee Corp COM 803111103 198 11,600 SH SOLE 11,600
Schlumberger Ltd COM 806857108 332 7,060 SH SOLE 7,060
Energy Select Sector SPDR COM 81369Y506 2,180 93,500 SH SOLE 93,500
Siemens AG COM 826197501 1,708 31,800 SH SOLE 31,800
Smurfit Stone Container COM 832727101 202 13,700 SH SOLE 13,700
Southtrust Corp COM 844730101 139 4,850 SH SOLE 4,850
Southwest Airlines COM 844741108 262 21,100 SH SOLE 21,100
Sprint Corp PCS Group COM 852061100 650 49,845 SH SOLE 49,845
Sun Life Financial Inc COM 866796105 373 13,100 SH SOLE 13,100
Suncor Energy Inc COM 867229106 1,139 45,200 SH SOLE 45,200
Suntrust Banks Inc COM 867914103 670 13,910 SH SOLE 13,910
Superior Industries Int'l COM 868168105 855 34,500 SH SOLE 34,500
Symantec Corp COM 871503108 321 9,900 SH SOLE 9,900
TJX Companies Inc COM 872540109 150 8,400 SH SOLE 8,400
TLC Vision Corp COM 872549100 117 10,200 SH SOLE 10,200
TXU Corp COM 873168108 288 9,600 SH SOLE 9,600
Talisman Energy Inc COM 87425E103 895 41,500 SH SOLE 41,500
Target Corp COM 87612E106 536 17,030 SH SOLE 17,030
Telefonos de Mexico S A de C V COM 879403780 468 19,000 SH SOLE 19,000
Telus Corp COM 87971M202 347 23,272 SH SOLE 23,272
Texas Instruments Inc COM 882508104 337 18,830 SH SOLE 18,830
Thomson Corp COM 884903105 699 21,200 SH SOLE 21,200
3M Company COM 88579Y101 540 8,100 SH SOLE 8,100
Timberland Company COM 887100105 560 11,700 SH SOLE 11,700
Time Warner Inc COM 887317105 983 75,460 SH SOLE 75,460
Tomkins PLC COM 890030208 1,384 93,400 SH SOLE 93,400
Toronto Dominion Bank COM 891160509 12,785 402,500 SH SOLE 402,500
Toyota Motor Corporation COM 892331307 1,149 19,000 SH SOLE 19,000
TransCanada Corp COM 89353D107 24,138 1,234,321 SH SOLE 1,234,321
Tribune Co COM 896047107 408 12,100 SH SOLE 12,100
Tyco Intl Ltd COM 902124106 1,804 73,500 SH SOLE 73,500
UST Inc COM 902911106 1,184 44,400 SH SOLE 44,400
Union Pacific Corp. COM 907818108 233 5,300 SH SOLE 5,300
United Technologies Corp COM 913017109 1,769 26,100 SH SOLE 26,100
Unocal Corp COM 915289102 473 16,800 SH SOLE 16,800
UPM Kymmene Corporation COM 915436109 750 53,000 SH SOLE 53,000
Vasogen Inc COM 92232F103 73 14,700 SH SOLE 14,700
Veritas Software Corp COM 923436109 372 18,060 SH SOLE 18,060
Verizon Comm COM 92343V104 2,461 91,800 SH SOLE 91,800
Viacom Inc COM 925524308 1,827 69,050 SH SOLE 69,050
Vodafone Group Plc COM 92857W100 164 10,000 SH SOLE 10,000
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
------------------------------- -------------- --------- -------- --------- --- ---- ---------- -------- ---- ------ ----
Volvo AB COM 928856400 933 36,000 SH SOLE 36,000
WPP Group PLC COM 929309300 76 2,000 SH SOLE 2,000
Wachovia Corp COM 929903102 709 21,500 SH SOLE 21,500
Waters Corp COM 941848103 322 9,100 SH SOLE 9,100
Wendys International Inc COM 950590109 1,076 41,700 SH SOLE 41,700
Wyeth COM 983024100 2,348 87,660 SH SOLE 87,660
Xilinx COM 983919101 237 9,590 SH SOLE 9,590
Yahoo Inc COM 984332106 356 13,200 SH SOLE 13,200
Zarlink Semiconductor COM 989139100 199 45,900 SH SOLE 45,900
Deutsche Bank AG COM D18190898 176 3,000 SH SOLE 3,000
Cooper Industries LTD COM G24182100 110 2,500 SH SOLE 2,500
Globalsantafe Corp COM G3930E101 65 3,300 SH SOLE 3,300
Noble Corp COM G65422100 298 10,600 SH SOLE 10,600
Transocean Inc COM G90078109 954 44,500 SH SOLE 44,500
Check Point Software Tech Ltd COM M22465104 488 24,400 SH SOLE 24,400
ASML Holding NV COM N07059111 89 7,000 SH SOLE 7,000
1,537,262