Lincluden Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
ABB LTD.	SPON ADR	000375204	2,868	119,069	SH		SOLE	0	119,069	0	0
AMERICAN INT'L GROUP INC.	COM	026874784	3,315	59,515	SH		SOLE	0	59,515	0	0
AMERICAN TOWER CORP	COM	0302UX100	3,107	13,520	SH		SOLE	0	13,520	0	0
AMERICOLD REALTY TRUST	COM	03064D108	4,568	130,300	SH		SOLE	0	130,300	0	0
APPLE INC.	COM	037833100	3,584	12,205	SH		SOLE	0	12,205	0	0
BANK OF AMERICA CORPORATION	COM	060505104	7,480	212,368	SH		SOLE	0	212,368	0	0
BANK MONTREAL QUE	COM	063671101	41,633	537,184	SH		SOLE	0	537,184	0	0
BANK NOVA SCOTIA HALIFAX	COM	064149107	80,521	1,425,501	SH		SOLE	0	1,425,501	0	0
BCE INC	COM	05534B109	59,141	1,276,570	SH		SOLE	0	1,276,570	0	0
BROOKFIELD ASSET MGMT INC.	CL A LTD VT SH	112585104	6,668	115,412	SH		SOLE	0	115,412	0	0
CAMDEN PROPERTY TRUST	SH BEN INT	133131102	5,282	50,725	SH		SOLE	0	50,725	0	0
CANADIAN IMPERIAL BANK OF COMMERCE	COM	136069101	40,012	480,824	SH		SOLE	0	480,824	0	0
CANADIAN NATIONAL RAILWAY CO	COM	136375102	4,997	55,240	SH		SOLE	0	55,240	0	0
CANADIAN NATURAL RESOURCES LTD.	COM	136385101	62,336	1,927,311	SH		SOLE	0	1,927,311	0	0
CENOVUS ENERGY INC.	COM	15135U109	52,057	5,121,042	SH		SOLE	0	5,121,042	0	0
CENETENE CORP. DEL	COM	15135B101	7,378	117,350	SH		SOLE	0	117,350	0	0
CHEVRON CORP.	COM	166764100	2,446	20,295	SH		SOLE	0	20,295	0	0
CHINA MOBILE LIMITED	SPON ADR	16941M109	2,360	55,826	SH		SOLE	0	55,826	0	0
CISCO SYSTEMS INC.	COM	17275R102	5,167	107,742	SH		SOLE	0	107,742	0	0
CITIGROUP INC.	COM	172967424	4,466	55,899	SH		SOLE	0	55,899	0	0
COLLIERS INTL GROUP INC.	SUB VTG SH	194693107	2,392	30,725	SH		SOLE	0	30,725	0	0
CORNING INC.	COM	219350105	5,691	195,506	SH		SOLE	0	195,506	0	0
CORTEVA INC.	COM	22052L104	6,590	222,953	SH		SOLE	0	222,953	0	0
CRESCENT POINT ENERGY CORP.	COM	22576C101	46,723	10,936,526	SH		SOLE	0	10,936,526	0	0
CUBESMART	COM	229663109	1,579	50,160	SH		SOLE	0	50,160	0	0
DEVON ENERGY CORP.	COM	25179M103	1,655	63,744	SH		SOLE	0	63,744	0	0
DOLLAR GENERAL CORP.	COM	256677105	4,851	31,098	SH		SOLE	0	31,098	0	0
DOLLAR TREE INC.	COM	256677105	5,150	54,755	SH		SOLE	0	54,755	0	0
DOW INC.	COM	260557103	7,160	130,823	SH		SOLE	0	130,823	0	0
DUPONT DE NEMOURS INC.	COM	26614N102	4,495	70,013	SH		SOLE	0	70,013	0	0
ENBRIDGE INC.	COM	29250N105	78,718	2,242,773	SH		SOLE	0	2,242,773	0	0
ENERPLUS CORP.	COM	292766102	18,663	1,960,726	SH		SOLE	0	1,960,726	0	0
EOG RESOURCES INC.	COM	26875P101	2,770	33,065	SH		SOLE	0	33,065	0	0
EQUINIX INC.	COM	29444U700	5,507	9,435	SH		SOLE	0	9,435	0	0
FEDERAL REALTY INVT TR	SH BEN INT NEW	313747206	7,402	57,501	SH		SOLE	0	57,501	0	0
GILDAN ACTIVEWEAR INC.	COM	375916103	448	15,150	SH		SOLE	0	15,150	0	0
GLAXOSMITHKLINE PLC	SPON ADR	37733W105	8,238	175,313	SH		SOLE	0	175,313	0	0
GRANITE REAL ESTATE INVT TR	UNIT	387437114	9,340	183,810	SH		SOLE	0	183,810	0	0
ING GROEP N V	SPON ADR	456837103	4,920	408,316	SH		SOLE	0	408,316	0	0
JOHNSON & JOHNSON	COM	478160104	2,663	18,259	SH		SOLE	0	18,259	0	0
JP MORGAN CHASE & CO	COM	46625H100	3,073	22,041	SH		SOLE	0	22,041	0	0
KROGER CO	COM	501044101	6,686	230,640	SH		SOLE	0	230,640	0	0
LOWES COS INC.	COM	548661107	2,599	21,699	SH		SOLE	0	21,699	0	0
MAGNA INTL INC	COM	559222401	146	2,655	SH		SOLE	0	2,655	0	0
MANULIFE FINL CORP	COM	56501R106	35,296	1,738,729	SH		SOLE	0	1,738,729	0	0
MICROSOFT CORP.	COM	594918104	6,287	39,867	SH		SOLE	0	39,867	0	0
MORGAN STANLEY	COM	617446448	2,683	52,483	SH		SOLE	0	52,483	0	0
ORACLE CORP	COM	68389X105	2,239	42,257	SH		SOLE	0	42,257	0	0
ORANGE	SPON ADR	684060106	2,883	197,608	SH		SOLE	0	197,608	0	0
PFIZER INC	COM	717081103	6,987	178,343	SH		SOLE	0	178,343	0	0
ROGERS COMMUNICATIONS INC	CL B	775109200	58,744	1,183,029	SH		SOLE	0	1,183,029	0	0
ROYAL BANK OF CANADA	COM	780087102	98,146	1,240,369	SH		SOLE	0	1,240,369	0	0
ROYAL DUTCH SHELL	SPON ADR A	780259206	4,904	83,151	SH		SOLE	0	83,151	0	0
SANOFI AVENTIS	SPON ADR	80105N105	3,493	69,582	SH		SOLE	0	69,582	0	0
SAP SE	SPON ADR	803054204	4,491	38,100	SH		SOLE	0	38,100	0	0
SHAW COMMUNICATIONS	CL B CONV	82028K200	29,353	1,446,524	SH		SOLE	0	1,446,524	0	0
SIMON PROPERTY GROUP INC.	COM	828806109	1,563	10,495	SH		SOLE	0	10,495	0	0
SUMMIT HOTEL PROPERTIES INC.	COM	866082100	670	51,040	SH		SOLE	0	51,040	0	0
SUN LIFE FINL INC.	COM	866796105	31,733	710,024	SH		SOLE	0	710,024	0	0
SUNCOR ENERGY INC	COM	867229106	179	5,460	SH		SOLE	0	5,460	0	0
TELUS CORP.	NON -VTG	87971M202	31,969	825,634	SH		SOLE	0	825,634	0	0
TERRENO REALTY CORP.	COM	88146M101	1,558	28,774	SH		SOLE	0	28,774	0	0
TORONTO DOMINION BK ONT	COM NEW	891160509	101,274	1,805,696	SH		SOLE	0	1,805,696	0	0
TOTAL S A	SPON ADR	89151E109	2,342	42,348	SH		SOLE	0	42,348	0	0
VERIZON COMMUNICATIONS	COM	92343V104	13,069	212,844	SH		SOLE	0	212,844	0	0
VERMILLION ENERGY INC	COM	923725105	414	25,333	SH		SOLE	0	25,333	0	0
VODAFONE GROUP PLC	SPON ADR	92857W308	5,397	279,194	SH		SOLE	0	279,194	0	0
WAL MART STORES INC	COM	931142103	2,412	20,297	SH		SOLE	0	20,297	0	0
WALLGREENS BOOTS ALLIANCE INC	COM	931427108	12,956	219,749	SH		SOLE	0	219,749	0	0
WASHINGTON PRIME GROUP NEW	COM	93964W108	201	55,310	SH		SOLE	0	55,310	0	0
WELLS FARGO & CO NEW	COM	949746101	7,738	143,826	SH		SOLE	0	143,826	0	0
WELLTOWER INC.	COM	95040Q104	1,684	20,595	SH		SOLE	0	20,595	0	0
WEYERHAEUSER CO	COM	962166904	433	14,335	SH		SOLE	0	14,335	0	0
ZIMMER BIOMET HOLDINGS INC.	COM	98956P102	2,762	18,453	SH		SOLE	0	18,453	0	0