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, 2004
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Check Here if Amendment /X/; Amendment Number: 1
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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: 416-979-6188
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Signature, Place, and Date of Signing:
/s/ Candace Shaw Ontario, Canada 11-12-2004
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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: 311
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Form 13F Information Table Value Total: $ 1,717,876
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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, 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
NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL DISCRETION MANAGERS AUTHORITY SOLE
U.S. OPERATIONS -
AMOUNTS SHOWN ARE IN U.S. DOLLARS
AGCO CORP COM 001084102 9,036 399,479 SH SOLE 399,479
AMR CORP COM 001765106 242 32,953 SH SOLE 32,953
ADVANCED FIBRE COMMUNICATION COM 00754A105 7,819 491,738 SH SOLE 491,738
AGERE SYS INC CL B 00845V209 8,888 8,713,785 SH SOLE 8,713,785
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 10,954 166,682 SH SOLE 166,682
ALLMERICA FINL CORP COM 019754100 8,514 316,733 SH SOLE 316,733
AMERICAN FINL RLTY TR COM 02607P305 7,712 546,580 SH SOLE 546,580
AMGEN INC COM 031162100 8,333 146,679 SH SOLE 146,679
ANNALY MTG MGMT INC COM 035710409 3,823 223,182 SH SOLE 223,182
AON CORP COM 037389103 9,218 320,728 SH SOLE 320,728
ARCHER DANIELS MIDLAND CO COM 039483102 8,447 497,462 SH SOLE 497,462
ARCHSTONE SMITH TR COM 039583109 11,229 354,898 SH SOLE 354,898
ARRIS GROUP INC COM 04269Q100 5,252 1,006,087 SH SOLE 1,006,087
ASCENTIAL SOFTWARE CORP COM NEW 04362P207 4,754 352,954 SH SOLE 352,954
AVALONBAY CMNTYS INC COM 053484101 10,248 170,174 SH SOLE 170,174
BRE PROPERTIES INC CL A 05564E106 10,702 279,058 SH SOLE 279,058
BAXTER INTL INC COM 071813109 8,060 250,623 SH SOLE 250,623
BEST BUY INC COM 086516101 8,337 153,699 SH SOLE 153,699
BOSTON SCIENTIFIC CORP COM 101137107 10,467 263,455 SH SOLE 263,455
BROCADE COMMUNICATIONS SYS I COM 111621108 9,448 1,672,218 SH SOLE 1,672,218
C COR INC COM 125010108 4,652 550,482 SH SOLE 550,482
CABLEVISION SYS CORP CL A NY CABLVS 12686C109 8,939 440,757 SH SOLE 440,757
CALPINE CORP COM 131347106 8,152 2,811,131 SH SOLE 2,811,131
CARRAMERICA RLTY CORP COM 144418100 8,028 245,495 SH SOLE 245,495
CENTERPOINT PPTYS TR COM 151895109 10,100 231,764 SH SOLE 231,764
CLEAN HARBORS INC COM 184496107 7,678 658,517 SH SOLE 658,517
CLEAR CHANNEL COMMUNICATIONS COM 184502102 8,392 269,236 SH SOLE 269,236
COMCAST CORP NEW CL A 20030N101 8,164 289,094 SH SOLE 289,094
CONCORD COMMUNICATIONS INC COM 206186108 4,310 482,881 SH SOLE 482,881
DELTA & PINE LD CO COM 247357106 5,306 198,337 SH SOLE 198,337
DEVELOPERS DIVERSIFIED RLTY COM 251591103 12,013 306,847 SH SOLE 306,847
DOW CHEM CO COM 260543103 8,497 188,060 SH SOLE 188,060
DUKE REALTY CORP COM NEW 264411505 5,922 178,374 SH SOLE 178,374
EASTMAN KODAK CO COM 277461109 9,254 287,200 SH SOLE 287,200
ECHOSTAR COMMUNICATIONS NEW CL A 278762109 9,841 316,227 SH SOLE 316,227
ECLIPSYS CORP COM 278856109 4,963 318,147 SH SOLE 318,147
EQUITY RESIDENTIAL SH BEN INT 29476L107 12,172 392,643 SH SOLE 392,643
EXIDE TECHNOLOGIES COM NEW 302051206 4,012 253,129 SH SOLE 253,129
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 286 6,508 SH SOLE 6,508
GATX CORP COM 361448103 10,172 381,531 SH SOLE 381,531
GRAFTECH INTL LTD COM 384313102 6,006 430,511 SH SOLE 430,511
GRAMERCY CAP CORP COM 384871109 3,404 218,200 SH SOLE 218,200
GUIDANT CORP COM 401698105 10,401 157,492 SH SOLE 157,492
HOST MARRIOTT CORP NEW COM 44107P104 5,732 408,579 SH SOLE 408,579
IAC INTERACTIVECORP COM 44919P102 7,704 349,871 SH SOLE 349,871
IMCLONE SYS INC COM 45245W109 8,371 158,397 SH SOLE 158,397
INTL PAPER CO COM 460146103 6,187 153,112 SH SOLE 153,112
ISHARES INC MSCI AUSTRALIA 464286103 1,067 73,498 SH SOLE 73,498
ISHARES INC MSCI BELGIUM 464286301 208 12,969 SH SOLE 12,969
ISHARES INC MSCI SINGAPORE 464286673 229 33,739 SH SOLE 33,739
ISHARES INC MSCI UTD KINGD 464286699 5,544 339,492 SH SOLE 339,492
ISHARES INC MSCI FRANCE 464286707 1,812 85,725 SH SOLE 85,725
ISHARES INC MSCI SWITZERLD 464286749 1,360 91,331 SH SOLE 91,331
ISHARES INC MSCI SWEDEN 464286756 925 50,258 SH SOLE 50,258
ISHARES INC MSCI SPAIN 464286764 905 31,549 SH SOLE 31,549
ISHARES INC MSCI GERMAN 464286806 1,292 81,933 SH SOLE 81,933
ISHARES INC MSCI NETHERLND 464286814 959 59,958 SH SOLE 59,958
ISHARES INC MSCI JAPAN 464286848 4,536 467,581 SH SOLE 467,581
ISHARES INC MSCI ITALY 464286855 795 37,121 SH SOLE 37,121
ISHARES INC MSCI HONG KONG 464286871 748 67,290 SH SOLE 67,290
KIMCO REALTY CORP COM 49446R109 9,693 188,944 SH SOLE 188,944
LUCENT TECHNOLOGIES INC COM 549463107 12,530 3,952,700 SH SOLE 3,952,700
MACERICH CO COM 554382101 16,543 310,430 SH SOLE 310,430
MARSH & MCLENNAN COS INC COM 571748102 8,556 186,973 SH SOLE 186,973
MEDIMMUNE INC COM 584699102 8,680 366,233 SH SOLE 366,233
MERISTAR HOSPITALITY CORP COM 58984Y103 5,900 1,082,607 SH SOLE 1,082,607
MONSANTO CO NEW COM 61166W101 8,018 220,143 SH SOLE 220,143
NRG ENERGY INC COM NEW 629377508 16,433 609,989 SH SOLE 609,989
NAVISTAR INTL CORP NEW COM 63934E108 8,256 222,000 SH SOLE 222,000
NEW YORK CMNTY BANCORP INC COM 649445103 8,804 428,649 SH SOLE 428,649
PARAMETRIC TECHNOLOGY CORP COM 699173100 10,252 1,941,691 SH SOLE 1,941,691
PERFORMANCE FOOD GROUP CO COM 713755106 4,329 182,666 SH SOLE 182,666
PHELPS DODGE CORP COM 717265102 4,944 53,726 SH SOLE 53,726
PRINCIPAL FINANCIAL GROUP IN COM 74251V102 8,678 241,247 SH SOLE 241,247
PROLOGIS SH BEN INT 743410102 9,767 277,148 SH SOLE 277,148
PRUDENTIAL FINL INC COM 744320102 8,684 184,610 SH SOLE 184,610
PUBLIC STORAGE INC COM 74460D109 7,941 160,268 SH SOLE 160,268
RECKSON ASSOCS RLTY CORP COM 75621K106 8,223 286,003 SH SOLE 286,003
REGENCY CTRS CORP COM 758849103 8,303 178,607 SH SOLE 178,607
REVLON INC CL A 761525500 9,598 3,808,571 SH SOLE 3,808,571
ROCKWELL AUTOMATION INC COM 773903109 7,153 184,831 SH SOLE 184,831
SL GREEN RLTY CORP COM 78440X101 9,223 178,022 SH SOLE 178,022
SHURGARD STORAGE CTRS INC COM 82567D104 9,222 237,670 SH SOLE 237,670
SIMON PPTY GROUP INC NEW COM 828806109 15,399 287,131 SH SOLE 287,131
TIMKEN CO COM 887389104 8,214 333,641 SH SOLE 333,641
TRINITY INDS INC COM 896522109 8,405 269,641 SH SOLE 269,641
UNION PAC CORP COM 907818108 8,209 140,086 SH SOLE 140,086
UNITED DOMINION REALTY TR IN COM 910197102 8,812 444,364 SH SOLE 444,364
UNOVA INC COM 91529B106 8,218 584,932 SH SOLE 584,932
UNUMPROVIDENT CORP COM 91529Y106 9,553 608,851 SH SOLE 608,851
VICOR CORP COM 925815102 3,884 384,178 SH SOLE 384,178
VORNADO RLTY TR SH BEN INT 929042109 11,844 188,954 SH SOLE 188,954
WILLIAMS COS INC DEL COM 969457100 10,287 850,186 SH SOLE 850,186
BUNGE LIMITED COM G16962105 7,848 196,288 SH SOLE 196,288
ORIENT-EXPRESS HOTELS LTD CL A G67743107 3,144 192,390 SH SOLE 192,390
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
CANADIAN OPERATIONS -
AMOUNTS SHOWN ARE IN U.S. DOLLARS
ABB Ltd COM 000375204 1,316 215,000 SH SOLE 215,000
Agco Corp COM 001084102 1,330 58,800 SH SOLE 58,800
ATI Technologies Inc COM 001941103 359 23,700 SH SOLE 23,700
Abbot Laboratories COM 002824100 263 6,200 SH SOLE 6,200
Aber Diamond Corporation COM 002893105 497 14,600 SH SOLE 14,600
Abitibi-Consolidated Inc COM 003924107 471 75,900 SH SOLE 75,900
Agrium Inc COM 008916108 368 21,000 SH SOLE 21,000
Ajinomoto COM 009707100 1,070 9,500 SH SOLE 9,500
Electrolux AB COM 010198208 2,326 63,300 SH SOLE 63,300
Alcan Inc COM 013716105 25,515 539,825 SH SOLE 539,825
Alcoa Inc COM 013817101 904 26,900 SH SOLE 26,900
Alliance Atlantis Comm Inc COM 01853E204 442 20,300 SH SOLE 20,300
Allstate Corp COM 020002101 1,819 37,900 SH SOLE 37,900
Alltel Corp COM 020039103 1,021 18,600 SH SOLE 18,600
Altria Group COM 02209S103 1,176 25,000 SH SOLE 25,000
Ameritrade Holding Corp COM 03074K100 46 3,800 SH SOLE 3,800
Amvescap PLC COM 03235E100 121 11,000 SH SOLE 11,000
Anglo American PLC COM 03485P102 92 3,800 SH SOLE 3,800
Angiotech Pharmaceuticals Inc COM 034918102 555 27,800 SH SOLE 27,800
Apache Corporation COM 037411105 1,697 33,860 SH SOLE 33,860
Astrazeneca PLC COM 046353108 90 2,200 SH SOLE 2,200
Avery Dennison Corp COM 053611109 1,171 17,800 SH SOLE 17,800
BCE Inc COM 05534B109 32,148 1,510,092 SH SOLE 1,510,092
BG Group COM 055434203 68 2,000 SH SOLE 2,000
BP PLC COM 055622104 2,589 45,000 SH SOLE 45,000
Bank of America Corp COM 060505104 1,327 30,620 SH SOLE 30,620
Bank of Montreal COM 063671101 17,601 407,400 SH SOLE 407,400
Bank of Nova Scotia COM 064149107 29,327 1,015,920 SH SOLE 1,015,920
Barclays PLC COM 06738E204 1,462 37,800 SH SOLE 37,800
Barrick Gold Corp COM 067901108 21,569 1,037,900 SH SOLE 1,037,900
Beckman Coulter Inc COM 075811109 634 11,300 SH SOLE 11,300
Bellsouth Corp COM 079860102 496 18,300 SH SOLE 18,300
Bema Gold Corp COM 08135F107 167 53,300 SH SOLE 53,300
Boston Scientific COM 101137107 163 4,100 SH SOLE 4,100
Brascan Corporation COM 10549P606 225 7,550 SH SOLE 7,550
Brasil Telecom Part SA COM 105530109 45 1,400 SH SOLE 1,400
CAE Inc COM 124765108 272 63,200 SH SOLE 63,200
CHC Helicopter Corp COM 12541C203 119 3,100 SH SOLE 3,100
Cameco Corp COM 13321L108 447 5,700 SH SOLE 5,700
Cdn Imp Bank of Commerce COM 136069101 14,157 267,790 SH SOLE 267,790
Cdn National Railways COM 136375102 20,097 416,110 SH SOLE 416,110
Canadian Nat Resources Ltd COM 136385101 947 24,000 SH SOLE 24,000
Canadian Pacific Railway Co COM 13645T100 10,042 393,220 SH SOLE 393,220
Canfor Corporation COM 137902102 184 14,800 SH SOLE 14,800
Canon Inc COM 138006309 2,367 50,200 SH SOLE 50,200
Caremark Rx Inc COM 141705103 160 5,000 SH SOLE 5,000
Carnival Corp COM 143658300 667 14,100 SH SOLE 14,100
Cedera Software Corp COM 150644102 59 7,500 SH SOLE 7,500
Celestica Inc COM 15101Q108 155 12,400 SH SOLE 12,400
Citigroup Inc COM 172967101 3,587 81,300 SH SOLE 81,300
Clear Channel Comm COM 184502102 168 5,400 SH SOLE 5,400
Coca Cola Co COM 191216100 905 22,600 SH SOLE 22,600
Cognos Inc COM 19244C109 349 9,900 SH SOLE 9,900
Colgate Palmolive COM 194162103 1,324 29,300 SH SOLE 29,300
Cia De Minas Buenaventur COM 204448104 183 7,700 SH SOLE 7,700
ConocoPhillips Inc COM 20825C104 33 400 SH SOLE 400
Corus Entertainment COM 220874101 198 10,800 SH SOLE 10,800
Cott Corp COM 22163N106 479 16,600 SH SOLE 16,600
CP Ships Ltd COM 22409V102 11,021 919,000 SH SOLE 919,000
Creo COM 225606102 103 12,700 SH SOLE 12,700
Deutsche Telecom COM 251566105 644 34,500 SH SOLE 34,500
Diageo PLC COM 25243Q205 2,446 48,500 SH SOLE 48,500
Domtar Inc. COM 257561100 11,005 926,700 SH SOLE 926,700
Dorel Industries Inc COM 25822C205 86 3,100 SH SOLE 3,100
Dow Jones & Co COM 260561105 491 12,100 SH SOLE 12,100
Draxis Health Inc COM 26150J101 158 33,500 SH SOLE 33,500
Duke Energy Corporation COM 264399106 3,193 139,500 SH SOLE 139,500
E ON AG COM 268780103 2,373 32,200 SH SOLE 32,200
E*Trade Financial Corp COM 269246104 41 3,600 SH SOLE 3,600
Eldorado Gold Corp COM 284902103 157 49,100 SH SOLE 49,100
EnCana Corporation COM 292505104 25,790 565,740 SH SOLE 565,740
Enbridge Inc COM 29250N105 6,169 149,700 SH SOLE 149,700
Entrust Inc COM 293848107 24 9,300 SH SOLE 9,300
Extendicare Inc COM 30224T871 98 7,700 SH SOLE 7,700
Fairmont Hotels COM 305204109 282 10,425 SH SOLE 10,425
Federal National Mtge Assoc COM 313586109 634 10,000 SH SOLE 10,000
First Data Corp COM 319963104 1,365 31,374 SH SOLE 31,374
Firstservice Corporation COM 33761N109 115 4,900 SH SOLE 4,900
Fluor Corporation COM 343412102 1,856 41,700 SH SOLE 41,700
Franklin Resources Inc COM 354613101 100 1,800 SH SOLE 1,800
Freeport McMoran Copper COM 35671D857 915 22,600 SH SOLE 22,600
GSI Lumonics Inc COM 36229U102 224 21,700 SH SOLE 21,700
Gap Inc COM 364760108 1,027 54,900 SH SOLE 54,900
General Elec Co COM 369604103 715 21,300 SH SOLE 21,300
General Mills Inc COM 370334104 983 21,900 SH SOLE 21,900
Gildan Activewear Inc COM 375916103 526 18,900 SH SOLE 18,900
Glamis Gold COM 376775102 399 21,800 SH SOLE 21,800
Glaxosmithkline Plc COM 37733W105 3,573 81,700 SH SOLE 81,700
Gold Fields Ltd COM 38059T106 3,239 237,300 SH SOLE 237,300
Goldcorp Inc COM 380956409 176 12,900 SH SOLE 12,900
Group CGI COM 39945C109 12,836 1,933,000 SH SOLE 1,933,000
HCA Inc COM 404119109 179 4,700 SH SOLE 4,700
HSBC Holdings Plc COM 404280406 1,963 24,600 SH SOLE 24,600
Halliburton Co COM 406216101 98 2,900 SH SOLE 2,900
Harrah's Entertainment Inc COM 413619107 1,075 20,300 SH SOLE 20,300
Hartford Financial Services COM 416515104 1,040 16,800 SH SOLE 16,800
HBOS PLC COM 42205M106 2,412 59,700 SH SOLE 59,700
Hewlett Packard Co COM 428236103 743 39,600 SH SOLE 39,600
Honeywell International Inc COM 438516106 1,904 53,100 SH SOLE 53,100
Hydrogenics Corporation COM 448882100 77 17,100 SH SOLE 17,100
Imperial Oil Ltd COM 453038408 13,137 256,800 SH SOLE 256,800
Inco Ltd COM 453258402 1,482 38,400 SH SOLE 38,400
ING Groep NV COM 456837103 1,416 56,000 SH SOLE 56,000
Intel Corp COM 458140100 130 6,500 SH SOLE 6,500
I B M Corp COM 459200101 146 1,700 SH SOLE 1,700
IPSCO Inc COM 462622101 102 3,700 SH SOLE 3,700
Ishares Tr COM 464287465 164,016 1,159,941 SH SOLE 1,159,941
Johnson & Johnson COM 478160104 1,204 21,374 SH SOLE 21,374
Johnson Matthey PLC COM 479142309 1,807 52,000 SH SOLE 52,000
Kingsway Financial Service Inc COM 496904103 223 17,200 SH SOLE 17,200
Kohls Corporation COM 500255104 101 2,100 SH SOLE 2,100
Kyocera Corporation COM 501556203 176 2,500 SH SOLE 2,500
Estee Lauder COM 518439104 88 2,100 SH SOLE 2,100
Leitch Technology Corp COM 52543H107 72 9,700 SH SOLE 9,700
Luxottica Group SPA COM 55068R202 71 4,000 SH SOLE 4,000
Mbna corp COM 55262L100 764 30,300 SH SOLE 30,300
MDS Inc COM 55269P302 19,760 1,305,100 SH SOLE 1,305,100
Magna International Inc COM 559222401 12,215 166,900 SH SOLE 166,900
Manulife Financial Corp COM 56501R106 488 11,142 SH SOLE 11,142
Manulife Financial Corp COM 56501R106 27,310 631,000 SH SOLE 631,000
Masonite International Corp COM 575384102 224 9,000 SH SOLE 9,000
Matsushita Electric Ind. Co COM 576879209 1,154 86,000 SH SOLE 86,000
McDonalds Corporation COM 580135101 1,015 36,200 SH SOLE 36,200
Meridian Gold Inc COM 589975101 445 27,100 SH SOLE 27,100
Merrill Lynch & Co Inc COM 590188108 955 19,200 SH SOLE 19,200
Microsoft Corp COM 594918104 2,142 77,482 SH SOLE 77,482
Morgan Stanley Co COM 617446448 1,913 38,800 SH SOLE 38,800
Motorola Inc COM 620076109 207 11,500 SH SOLE 11,500
NCR Corporation COM 62886E108 749 15,100 SH SOLE 15,100
National Grid Transco PLC COM 636274102 2,497 58,300 SH SOLE 58,300
Neurochem Inc COM 64125K101 282 16,700 SH SOLE 16,700
New York Times Co COM 650111107 117 3,000 SH SOLE 3,000
Nexen Inc COM 65334H102 13,488 327,300 SH SOLE 327,300
Nippon Tel & Tel Co COM 654624105 1,788 89,500 SH SOLE 89,500
Nomura Holdings Inc COM 65535H208 2,208 171,000 SH SOLE 171,000
Noranda Inc COM 655422103 916 53,300 SH SOLE 53,300
Nortel Networks Corp COM 656568102 9,303 2,782,100 SH SOLE 2,782,100
North Am Palladium COM 656912102 124 15,100 SH SOLE 15,100
Northrop Grumman Corp COM 666807102 1,045 19,600 SH SOLE 19,600
Nova Chemicals Corp COM 66977W109 7,284 191,200 SH SOLE 191,200
Novartis AG COM 66987V109 2,446 52,400 SH SOLE 52,400
Oracle Systems Corp COM 68389X105 103 9,156 SH SOLE 9,156
Pearson Plc COM 705015105 76 7,000 SH SOLE 7,000
Pepsico Inc COM 713448108 175 3,600 SH SOLE 3,600
Petro Canada Limited COM 71644E102 2,337 45,500 SH SOLE 45,500
Pfizer Inc COM 717081103 3,752 122,612 SH SOLE 122,612
Phelps Dodge Corp COM 717265102 930 10,100 SH SOLE 10,100
Placer Dome Inc COM 725906101 32,732 1,662,600 SH SOLE 1,662,600
Potash Corp of Sask Inc COM 73755L107 215 3,400 SH SOLE 3,400
Precision Drilling Corp COM 74022D100 687 12,100 SH SOLE 12,100
Prudential Financial Inc COM 744320102 2,484 52,800 SH SOLE 52,800
QLT Inc COM 746927102 524 32,100 SH SOLE 32,100
Quebecor World Inc COM 748203106 6,202 281,500 SH SOLE 281,500
Reed Elsevier NV COM 758204101 1,176 45,400 SH SOLE 45,400
Research In Motion COM 760975102 466 6,100 SH SOLE 6,100
Research In Motion COM 760975102 459 6,100 SH SOLE 6,100
Rexam plc COM 761655406 1,232 31,200 SH SOLE 31,200
Rogers Communication Class B COM 775109200 424 21,200 SH SOLE 21,200
Rogers Wireless Communications COM 775315104 612 19,800 SH SOLE 19,800
Royal Bank of Canada COM 780087102 36,514 779,606 SH SOLE 779,606
Royal Dutch Petroleum Co COM 780257804 1,734 33,600 SH SOLE 33,600
SBC Communications COM 78387G103 4,357 167,900 SH SOLE 167,900
SPDR Trust COM 78462F103 197,719 1,769,143 SH SOLE 1,769,143
Schlumberger Ltd COM 806857108 229 3,400 SH SOLE 3,400
Select Sector SPDR COM 81369Y209 1,995 69,300 SH SOLE 69,300
Select Sector SPDR COM 81369Y506 3,273 93,500 SH SOLE 93,500
Siemens AG COM 826197501 2,344 31,800 SH SOLE 31,800
Sigma-Aldrich Corp COM 826552101 1,032 17,800 SH SOLE 17,800
Smurfit Stone Container COM 832727101 77 4,000 SH SOLE 4,000
Sprint Corp COM 852061100 1,065 52,900 SH SOLE 52,900
Statoil ASA COM 85771P102 100 6,900 SH SOLE 6,900
Sun Life Financial Inc COM 866796105 391 13,100 SH SOLE 13,100
Suncor Energy Inc COM 867229106 1,294 41,000 SH SOLE 41,000
Superior Industries Int'l COM 868168105 1,033 34,500 SH SOLE 34,500
TLC Vision Corp COM 872549100 88 10,200 SH SOLE 10,200
Talisman Energy Inc COM 87425E103 1,276 49,800 SH SOLE 49,800
Telefonos de Mexico S A de C V COM 879403780 678 21,000 SH SOLE 21,000
Telus Corp COM 87971M202 559 29,226 SH SOLE 29,226
Thomson Corp COM 884903105 672 19,600 SH SOLE 19,600
3M Company COM 88579Y101 96 1,200 SH SOLE 1,200
Timberland Company COM 887100105 682 12,000 SH SOLE 12,000
Time Warner Inc COM 887317105 699 43,300 SH SOLE 43,300
Tomkins PLC COM 890030208 1,808 93,400 SH SOLE 93,400
Toronto Dominion Bank COM 891160509 15,253 423,600 SH SOLE 423,600
Total SA COM 89151E109 92 900 SH SOLE 900
Toyota Motor Corporation COM 892331307 1,451 19,000 SH SOLE 19,000
TransAlta Corp COM 89346D107 1,062 82,400 SH SOLE 82,400
TransCanada Corp COM 89353D107 26,663 1,234,321 SH SOLE 1,234,321
Tyco Intl Ltd COM 902124106 2,579 84,100 SH SOLE 84,100
United Technologies Corp COM 913017109 2,484 26,600 SH SOLE 26,600
UPM Kymmene Corporation COM 915436109 1,784 93,000 SH SOLE 93,000
Vasogen Inc COM 92232F103 258 58,100 SH SOLE 58,100
Verizon Comm COM 92343V104 1,890 48,000 SH SOLE 48,000
Viacom Inc COM 925524308 2,849 84,900 SH SOLE 84,900
Vodafone Group Plc COM 92857W100 289 12,000 SH SOLE 12,000
Volvo AB COM 928856400 1,269 36,000 SH SOLE 36,000
WPP Group PLC COM 929309300 140 3,000 SH SOLE 3,000
Wachovia Corp COM 929903102 1,009 21,500 SH SOLE 21,500
Waters Corp COM 941848103 1,028 23,300 SH SOLE 23,300
Wendys International Inc COM 950590109 2,853 84,900 SH SOLE 84,900
Weyerheuser Co COM 962166104 1,030 15,500 SH SOLE 15,500
Wyeth COM 983024100 2,562 68,500 SH SOLE 68,500
Zarlink Semiconductor COM 989139100 137 45,900 SH SOLE 45,900
Deutsche Bank AG COM D18190898 360 5,000 SH SOLE 5,000
Transocean Inc COM G90078109 268 7,500 SH SOLE 7,500
Check Point Software Tech Ltd COM M22465104 1,144 67,400 SH SOLE 67,400
ASML Holding NV COM N07059111 116 9,000 SH SOLE 9,000
1,717,876