Agf Investments 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
Materials Select Sector SPDR ETF	ETF	81369Y100	10,210	175,430	SH		OTR	1	0	175,430	0
Health Care Select Sector SPDR ETF	ETF	81369Y209	69,120	766,896	SH		OTR	1	0	766,896	0
Consumer Staples Select Sector SPDR ETF	ETF	81369Y308	27,696	450,931	SH		OTR	1	0	450,931	0
SPDR S&P Consumer Discretionary Select Sector ETF	ETF	81369Y407	26,717	221,349	SH		OTR	1	0	221,349	0
SPDR S&P Energy Select Sector ETF	ETF	81369Y506	2,808	47,439	SH		OTR	1	0	47,439	0
Financial Select Sector SPDR ETF	ETF	81369Y605	58,114	2,075,503	SH		OTR	1	0	2,075,503	0
Industrial Select Sector SPDR ETF	ETF	81369Y704	54,803	705,945	SH		OTR	1	0	705,945	0
SPDR S&P Technology Select Sector ETF	ETF	81369Y803	59,694	741,268	SH		OTR	1	0	741,268	0
Communication Services Select Sector SPDR Fund	ETF	81369Y852	38,252	772,459	SH		OTR	1	0	0	0
Real Estate Select Sector SPDR ETF	ETF	81369Y860	21,461	545,514	SH		OTR	1	0	0	0
Utilities Select Sector SPDR ETF	ETF	81369Y886	3,929	60,682	SH		OTR	1	0	60,682	0
Aflac Inc.	COM	001055102	49,477	945,666	SH		SOLE	N/A	945,666	0	0
AGCO Corp.	COM	001084102	68,830	909,243	SH		SOLE	N/A	909,243	0	0
AMN Healthcare Services Inc.	COM	001744101	449	7,809	SH		SOLE	N/A	7,809	0	0
AT&T Inc.	COM	00206R102	120,726	3,190,426	SH		SOLE	N/A	3,190,426	0	0
AbbVie Inc.	COM	00287Y109	101,745	1,343,699	SH		SOLE	N/A	1,343,699	0	0
Activision Blizzard Inc.	COM	00507V109	291	5,500	SH		SOLE	N/A	5,500	0	0
Adaptive Biotechnologies Corp.	COM	00650F109	19	625	SH		SOLE	N/A	625	0	0
Adobe Inc.	COM	00724F101	71,188	257,695	SH		SOLE	N/A	257,695	0	0
AdvanSix Inc.	COM	00773T101	1,581	61,487	SH		SOLE	N/A	61,487	0	0
Agnico Eagle Mines Ltd.	COM	008474108	15,398	287,327	SH		SOLE	N/A	287,327	0	0
Alamos Gold Inc.	COM	011532108	2,714	466,947	SH		SOLE	N/A	466,947	0	0
Alaska Air Group Inc.	COM	011659109	81,127	1,249,833	SH		SOLE	N/A	1,249,833	0	0
Albemarle Corp.	COM	012653101	868	12,490	SH		SOLE	N/A	12,490	0	0
Alexion Pharmaceuticals Inc.	COM	015351109	660	6,739	SH		SOLE	N/A	6,739	0	0
Algonquin Power & Utilities Corp.	COM	015857105	11,394	832,190	SH		SOLE	N/A	832,190	0	0
Alibaba Group Holding Ltd. ADR	ADR	01609W102	123,268	737,114	SH		SOLE	N/A	5,896,912	0	0
Alphabet Inc.	COM	02079K305	54,829	44,900	SH		SOLE	N/A	44,900	0	0
Altaba Inc.	COM	021346101	7,791	399,935	SH		SOLE	N/A	399,935	0	0
Alteryx Inc.	CCB	02156BAB9	1,863	750,000	PRN		SOLE	N/A	750,000	0	0
Amarin Corp. PLC ADR	ADR	023111206	7,983	526,583	SH		SOLE	N/A	526,583	0	0
Amazon.com Inc.	COM	023135106	160,296	92,341	SH		SOLE	N/A	92,341	0	0
American Water Works Co. Inc.	COM	030420103	3,598	28,962	SH		SOLE	N/A	28,962	0	0
Amgen Inc.	COM	031162100	29,152	150,649	SH		SOLE	N/A	150,649	0	0
Amphenol Corp.	COM	032095101	1,734	17,966	SH		SOLE	N/A	17,966	0	0
Analog Devices Inc.	COM	032654105	3,076	27,530	SH		SOLE	N/A	27,530	0	0
AngloGold Ashanti Ltd. ADR	ADR	035128206	2,905	158,990	SH		SOLE	N/A	158,990	0	0
ANSYS Inc.	COM	03662Q105	2,856	12,903	SH		SOLE	N/A	12,903	0	0
Apple Inc.	COM	037833100	23,447	104,686	SH		SOLE	N/A	104,686	0	0
Atmos Energy Corp.	COM	049560105	1,085	9,526	SH		SOLE	N/A	9,526	0	0
Avalara Inc.	COM	05338G106	3,365	50,000	SH		SOLE	N/A	50,000	0	0
Avantor Inc. Preferred	CPFD	05352A209	1,074	20,000	SH		SOLE	N/A	20,000	0	0
Avery Dennison Corp.	COM	053611109	406	3,577	SH		SOLE	N/A	3,577	0	0
Azul SA ADR	ADR	05501U106	6,123	170,946	SH		SOLE	N/A	0	0	0
BCE Inc.	COM	05534B760	11,131	230,127	SH		SOLE	N/A	230,127	0	0
BRP Inc.	COM	05577W200	11,559	297,074	SH		SOLE	N/A	297,074	0	0
Baidu Inc. ADR	ADR	056752108	699	6,800	SH		SOLE	N/A	680	0	0
Bank of America Corp.	COM	060505104	2,207	75,657	SH		SOLE	N/A	75,657	0	0
Bank Of America Corp.	CPFD	060505682	1,247	833	SH		SOLE	N/A	833	0	0
Bank of Montreal	COM	063671101	28,903	392,419	SH		SOLE	N/A	392,419	0	0
Bank of Nova Scotia	COM	064149107	48,297	850,312	SH		SOLE	N/A	850,312	0	0
Barrick Gold Corp.	COM	067901108	14,875	858,328	SH		SOLE	N/A	858,328	0	0
Becton Dickinson and Co.	COM	075887109	253	1,000	SH		SOLE	N/A	1,000	0	0
Becton Dickinson and Co. Preferred	PFD	075887208	2,334	37,700	SH		SOLE	N/A	37,700	0	0
Berkshire Hathaway Inc.	COM	084670702	27,658	132,958	SH		SOLE	N/A	13	0	0
Booking Holdings Inc.	COM	09857L108	16,117	8,212	SH		SOLE	N/A	8,212	0	0
Booz Allen Hamilton Holding Corp.	COM	099502106	75,656	1,065,283	SH		SOLE	N/A	1,065,283	0	0
Boston Properties Inc. REIT	REIT	101121101	1,735	13,379	SH		SOLE	N/A	13,379	0	0
Boston Scientific Corp.	COM	101137107	1,195	29,358	SH		SOLE	N/A	29,358	0	0
Brighthouse Financial Inc.	COM	10922N103	3,687	91,103	SH		SOLE	N/A	91,103	0	0
Bristol-Myers Squibb Co.	COM	110122108	61,627	1,215,284	SH		SOLE	N/A	1,215,284	0	0
Broadcom Inc.	COM	11135F101	39,145	141,794	SH		SOLE	N/A	141,794	0	0
Brookfield Asset Management Inc.	COM	112585104	28,136	529,859	SH		SOLE	N/A	529,859	0	0
B2Gold Corp.	COM	11777Q209	3,729	1,146,158	SH		SOLE	N/A	1,146,158	0	0
CAE Inc.	COM	124765108	5,744	226,098	SH		SOLE	N/A	226,098	0	0
CBRE Group Inc.	COM	12504L109	969	18,274	SH		SOLE	N/A	18,274	0	0
CGI Inc.	COM	12532H104	38,271	483,992	SH		SOLE	N/A	483,992	0	0
Cigna Corp.	COM	125523100	19,126	126,000	SH		SOLE	N/A	126,000	0	0
CME Group Inc.	COM	12572Q105	317	1,500	SH		SOLE	N/A	1,500	0	0
CRH Medical Corp.	COM	12626F105	35	11,369	SH		SOLE	N/A	11,369	0	0
CSX Corp.	COM	126408103	83,286	1,202,340	SH		SOLE	N/A	1,202,340	0	0
CVS Health Corp.	COM	126650100	39,496	626,223	SH		SOLE	N/A	626,223	0	0
Camden Property Trust REIT	REIT	133131102	1,034	9,316	SH		SOLE	N/A	9,316	0	0
Canadian National Railway Co.	COM	136375102	51,905	578,067	SH		SOLE	N/A	578,067	0	0
Canadian Natural Resources Ltd.	COM	136385101	30,197	1,134,935	SH		SOLE	N/A	1,134,935	0	0
Canadian Pacific Railway Ltd.	COM	13645T100	21,325	95,958	SH		SOLE	N/A	95,958	0	0
Cemex SAB de CV	CCB	151290BT9	998	1,000,000	PRN		SOLE	N/A	0	0	0
Centene Corp.	COM	15135B101	54,164	1,252,056	SH		SOLE	N/A	1,252,056	0	0
Cenovus Energy Inc.	COM	15135U109	1,735	184,897	SH		SOLE	N/A	184,897	0	0
Charles & Colvard Ltd.	COM	159765106	2,975	1,825,000	SH		SOLE	N/A	1,825,000	0	0
The Chefs' Warehouse Inc.	COM	163086101	13,337	330,784	SH		SOLE	N/A	330,784	0	0
Chegg Inc.	COM	163092109	2,995	100,000	SH		SOLE	N/A	100,000	0	0
Cheniere Energy Inc.	COM	16411R208	888	14,080	SH		SOLE	N/A	14,080	0	0
Cheniere Energy Inc.	CCB	16411RAG4	1,544	2,000,000	PRN		SOLE	N/A	2,000,000	0	0
Chevron Corp.	COM	166764100	7,081	59,701	SH		SOLE	N/A	59,701	0	0
Cisco Systems Inc.	COM	17275R102	18,728	379,042	SH		SOLE	N/A	379,042	0	0
IH Merger Sub LLC	CCB	19625XAB8	1,661	1,250,000	PRN		SOLE	N/A	1,250,000	0	0
Comcast Corp.	COM	20030N101	22,798	505,718	SH		SOLE	N/A	59,321	0	0
Concho Resources Inc.	COM	20605P101	210	3,099	SH		SOLE	N/A	3,099	0	0
ConocoPhillips	COM	20825C104	1,012	17,753	SH		SOLE	N/A	17,753	0	0
CoreSite Realty Corp. REIT	REIT	21870Q105	1,027	8,429	SH		SOLE	N/A	8,429	0	0
Corning Inc.	COM	219350105	39,038	1,368,792	SH		SOLE	N/A	1,368,792	0	0
Corteva Inc.	COM	22052L104	3,086	110,206	SH		SOLE	N/A	110,206	0	0
Costco Wholesale Corp.	COM	22160K105	109,637	380,540	SH		SOLE	N/A	380,540	0	0
CoStar Group Inc.	COM	22160N109	21,897	36,913	SH		SOLE	N/A	36,913	0	0
Coupa Software Inc.	COM	22266L106	6,479	50,000	SH		SOLE	N/A	50,000	0	0
Coupa Software Inc.	CCB	22266LAB2	874	300,000	PRN		SOLE	N/A	300,000	0	0
Covetrus Inc.	COM	22304C100	17	1,427	SH		SOLE	N/A	1,427	0	0
Cree Inc.	COM	225447101	6,933	141,498	SH		SOLE	N/A	141,498	0	0
Ctrip.com International Ltd. ADR	ADR	22943F100	24,977	852,763	SH		SOLE	N/A	106,595	0	0
Ctrip.com International Ltd.	CCB	22943FAM2	2,563	2,573,000	PRN		SOLE	N/A	321,625	0	0
Cummins Inc.	COM	231021106	1,796	11,041	SH		SOLE	N/A	11,041	0	0
Danaher Corp.	COM	235851102	24,039	166,438	SH		SOLE	N/A	166,438	0	0
Danaher Corp. Preferred	CPFD	235851300	1,418	1,250	SH		SOLE	N/A	1,250	0	0
The Descartes Systems Group Inc.	COM	249906108	5,589	138,452	SH		SOLE	N/A	138,452	0	0
Devon Energy Corp.	COM	25179M103	168	6,993	SH		SOLE	N/A	6,993	0	0
Diamondback Energy Inc.	COM	25278X109	256	2,842	SH		SOLE	N/A	2,842	0	0
The Walt Disney Co.	COM	254687106	25,251	193,758	SH		SOLE	N/A	193,758	0	0
Dollar General Corp.	COM	256677105	19,722	124,087	SH		SOLE	N/A	124,087	0	0
Dow Inc.	COM	260557103	5,698	119,585	SH		SOLE	N/A	119,585	0	0
Duke Energy Corp.	COM	26441C204	1,435	14,970	SH		SOLE	N/A	14,970	0	0
Dupont De Nemours Inc.	COM	26614N102	8,944	125,429	SH		SOLE	N/A	125,429	0	0
EOG Resources Inc.	COM	26875P101	791	10,651	SH		SOLE	N/A	10,651	0	0
Eastman Chemical Co.	COM	277432100	949	12,857	SH		SOLE	N/A	12,857	0	0
Ecolab Inc.	COM	278865100	7,487	37,808	SH		SOLE	N/A	37,808	0	0
eHealth Inc.	COM	28238P109	7,693	115,182	SH		SOLE	N/A	115,182	0	0
Encana Corp.	COM	292505104	431	94,139	SH		SOLE	N/A	94,139	0	0
Enbridge Inc.	COM	29250N105	37,812	1,077,390	SH		SOLE	N/A	1,077,390	0	0
Enerplus Corp.	COM	292766102	5,857	786,169	SH		SOLE	N/A	786,169	0	0
Entergy Corp.	COM	29364G103	2,325	19,812	SH		SOLE	N/A	19,812	0	0
Enterprise Products Partners LP	COM	293792107	1,762	61,654	SH		SOLE	N/A	61,654	0	0
Equinix Inc. REIT	REIT	29444U700	30,578	53,013	SH		SOLE	N/A	53,013	0	0
Etsy Inc.	COM	29786A106	3,673	65,000	SH		SOLE	N/A	65,000	0	0
Exxon Mobil Corp.	COM	30231G102	51,026	722,640	SH		SOLE	N/A	722,640	0	0
First Solar Inc.	COM	336433107	1,450	24,994	SH		SOLE	N/A	24,994	0	0
FleetCor Technologies Inc.	COM	339041105	22,498	78,450	SH		SOLE	N/A	78,450	0	0
Fomento Economico Mexicano SAB de CV ADR	ADR	344419106	16,873	184,239	SH		SOLE	N/A	184,239	0	0
Fortive Corp. Preferred	PFD	34959J207	766	850	SH		SOLE	N/A	850	0	0
AGFiQ Dynamic Hedged U.S. Equity ETF	ETF	351680749	2,378	90,000	SH		SOLE	N/A	0	0	0
AGFiQ Global Infrastructure ETF	ETF	351680756	2,326	90,000	SH		SOLE	N/A	0	0	0
Franco-Nevada Corp.	COM	351858105	8,724	95,747	SH		SOLE	N/A	95,747	0	0
Franklin FTSE Japan ETF	ETF	35473P744	57,798	2,317,500	SH		SOLE	N/A	0	0	0
GW Pharmaceuticals PLC ADR	ADR	36197T103	3,813	33,148	SH		SOLE	N/A	33,148	0	0
Garrett Motion Inc.	COM	366505105	1,212	121,650	SH		SOLE	N/A	121,650	0	0
Global Payments Inc.	COM	37940X102	83,462	524,918	SH		SOLE	N/A	524,918	0	0
Global X MSCI Norway ETF	ETF	37950E747	10,553	908,198	SH		SOLE	N/A	908,198	0	0
Golden Star Resources Ltd.	COM	38119T807	634	220,580	SH		SOLE	N/A	220,580	0	0
Goosehead Insurance Inc.	COM	38267D109	3,948	80,000	SH		SOLE	N/A	80,000	0	0
HDFC Bank Ltd. ADR	ADR	40415F101	1,365	23,920	SH		SOLE	N/A	23,920	0	0
Hannon Armstrong Sustainable Infrastructure Capital Inc. REIT	REIT	41068X100	2,448	83,991	SH		SOLE	N/A	83,991	0	0
Hannon Armstrong Sustainable Infrastructure Capital Inc.	CCB	41068XAB6	2,189	1,960,000	PRN		SOLE	N/A	1,960,000	0	0
HealthEquity Inc.	COM	42226A107	3,714	65,000	SH		SOLE	N/A	65,000	0	0
HEICO Corp.	COM	422806109	12,195	97,656	SH		SOLE	N/A	97,656	0	0
The Home Depot Inc.	COM	437076102	36,221	156,113	SH		SOLE	N/A	156,113	0	0
Honeywell International Inc.	COM	438516106	227,518	1,344,667	SH		SOLE	N/A	1,344,667	0	0
Hudbay Minerals Inc.	COM	443628102	1,471	407,800	SH		SOLE	N/A	407,800	0	0
Huntington Ingalls Industries Inc.	COM	446413106	16,605	78,403	SH		SOLE	N/A	78,403	0	0
IDEXX Laboratories Inc.	COM	45168D104	43,035	158,259	SH		SOLE	N/A	158,259	0	0
Illumina Inc.	COM	452327109	51,493	169,263	SH		SOLE	N/A	169,263	0	0
Illumina Inc.	CCB	452327AH2	1,027	775,000	PRN		SOLE	N/A	775,000	0	0
ING Groep NV ADR	ADR	456837103	6	554	SH		SOLE	N/A	554	0	0
Ingredion Inc.	COM	457187102	247	3,024	SH		SOLE	N/A	3,024	0	0
Inphi Corp.	CCB	45772FAC1	1,185	950,000	PRN		SOLE	N/A	950,000	0	0
Innoviva Inc.	CCB	45781MAB7	720	750,000	PRN		SOLE	N/A	750,000	0	0
Intel Corp.	COM	458140100	12,641	245,309	SH		SOLE	N/A	245,309	0	0
International Business Machines Corp.	COM	459200101	38,139	262,265	SH		SOLE	N/A	262,265	0	0
International Flavors & Fragrances Inc.	COM	459506101	0	1	SH		SOLE	N/A	1	0	0
Intuit Inc.	COM	461202103	74,536	280,273	SH		SOLE	N/A	280,273	0	0
IQVIA Holdings Inc.	COM	46266C105	34,193	228,899	SH		SOLE	N/A	228,899	0	0
Iron Mountain Inc. REIT	REIT	46284V101	474	14,620	SH		SOLE	N/A	14,620	0	0
iShares MSCI World ETF	ETF	464286392	15	166	SH		SOLE	N/A	166	0	0
iShares JP Morgan EM Local Currency Bond ETF	ETF	464286517	4	93	SH		SOLE	N/A	93	0	0
iShares MSCI Thailand ETF	ETF	464286624	13,101	147,695	SH		SOLE	N/A	147,695	0	0
iShares MSCI Pacific ex Japan ETF	ETF	464286665	3	62	SH		SOLE	N/A	62	0	0
iShares MSCI Spain ETF	ETF	464286764	6,995	251,251	SH		SOLE	N/A	251,251	0	0
iShares MSCI South Korea ETF	ETF	464286772	33,427	593,301	SH		SOLE	N/A	593,301	0	0
iShares MSCI Germany ETF	ETF	464286806	12,957	481,498	SH		SOLE	N/A	481,498	0	0
iShares Core S&P 500 ETF	ETF	464287200	95,995	321,570	SH		SOLE	N/A	321,570	0	0
iShares MSCI Emerging Markets ETF	ETF	464287234	9,196	225,000	SH		SOLE	N/A	225,000	0	0
iShares JP Morgan USD Emerging Markets Bond ETF	ETF	464288281	1	13	SH		SOLE	N/A	13	0	0
iShares	ETF	464288513	6	65	SH		SOLE	N/A	65	0	0
iShares MSCI India ETF	ETF	46429B598	32,829	977,920	SH		SOLE	N/A	977,920	0	0
iShares MSCI China ETF	ETF	46429B671	31,341	558,866	SH		SOLE	N/A	558,866	0	0
iShares MSCI Singapore ETF	ETF	46434G780	59,631	2,570,282	SH		SOLE	N/A	2,570,282	0	0
iShares MSCI Japan ETF	ETF	46434G822	61,907	1,091,058	SH		SOLE	N/A	1,091,058	0	0
iShares MSCI Italy ETF	ETF	46434G830	13,063	473,827	SH		SOLE	N/A	473,827	0	0
JPMorgan Chase & Co.	COM	46625H100	179,624	1,526,243	SH		SOLE	N/A	1,526,243	0	0
Jacobs Engineering Group Inc.	COM	469814107	90,263	986,476	SH		SOLE	N/A	986,476	0	0
Jazz Investments I Ltd.	CCB	472145AB7	1,001	1,000,000	PRN		SOLE	N/A	1,000,000	0	0
JD.com Inc. ADR	ADR	47215P106	564	20,000	SH		SOLE	N/A	40,000	0	0
Johnson & Johnson	COM	478160104	40,255	311,134	SH		SOLE	N/A	311,134	0	0
Jones Lang Lasalle Inc.	COM	48020Q107	346	2,487	SH		SOLE	N/A	2,487	0	0
Keysight Technologies Inc.	COM	49338L103	66,851	687,411	SH		SOLE	N/A	687,411	0	0
Kinross Gold Corp.	COM	496902404	2,801	608,283	SH		SOLE	N/A	608,283	0	0
Kirkland Lake Gold Ltd.	COM	49741E100	15,758	351,756	SH		SOLE	N/A	351,756	0	0
The Kraft Heinz Co.	COM	500754106	26,765	958,109	SH		SOLE	N/A	958,109	0	0
LG Display Co. Ltd. ADR	ADR	50186V102	1,797	301,992	SH		SOLE	N/A	301,992	0	0
LPL Financial Holdings Inc.	COM	50212V100	4,095	50,000	SH		SOLE	N/A	50,000	0	0
Liberty Interactive LLC	CCB	530715AN1	1,095	1,200,000	PRN		SOLE	N/A	1,200,000	0	0
Lincoln National Corp.	COM	534187109	8,701	144,249	SH		SOLE	N/A	144,249	0	0
LivePerson Inc.	COM	538146101	5,891	165,000	SH		SOLE	N/A	165,000	0	0
Lockheed Martin Corp.	COM	539830109	27,597	70,751	SH		SOLE	N/A	70,751	0	0
Lululemon Athletica Inc.	COM	550021109	7,716	40,077	SH		SOLE	N/A	40,077	0	0
MAG Silver Corp.	COM	55903Q104	358	33,718	SH		SOLE	N/A	33,718	0	0
Magna International Inc.	COM	559222401	3,833	71,916	SH		SOLE	N/A	71,916	0	0
Manulife Financial Corp.	COM	56501R106	44,323	2,416,529	SH		SOLE	N/A	2,416,529	0	0
Marathon Petroleum Corp.	COM	56585A102	3,220	53,011	SH		SOLE	N/A	53,011	0	0
MarketAxess Holdings Inc.	COM	57060D108	49,144	150,059	SH		SOLE	N/A	150,059	0	0
Martin Marietta Materials Inc.	COM	573284106	1,908	6,960	SH		SOLE	N/A	6,960	0	0
McCormick and Co. Inc.	COM	579780206	2,140	13,693	SH		SOLE	N/A	0	0	0
McDonald's Corp.	COM	580135101	33,403	155,574	SH		SOLE	N/A	155,574	0	0
MercadoLibre Inc.	COM	58733R102	3,878	7,036	SH		SOLE	N/A	7,036	0	0
MetLife Inc.	COM	59156R108	45,905	973,390	SH		SOLE	N/A	973,390	0	0
Microsoft Corp.	COM	594918104	52,836	380,031	SH		SOLE	N/A	380,031	0	0
Microchip Technology Inc.	CCB	595017AF1	1,062	825,000	PRN		SOLE	N/A	825,000	0	0
Mondelez International Inc.	COM	609207105	135,952	2,457,554	SH		SOLE	N/A	2,457,554	0	0
Monolithic Power Systems Inc.	COM	609839105	1,736	11,153	SH		SOLE	N/A	11,153	0	0
Moody's Corp.	COM	615369105	122,034	595,784	SH		SOLE	N/A	595,784	0	0
NXP Semiconductors NV	CCB	62952QAB6	1,089	1,000,000	PRN		SOLE	N/A	1,000,000	0	0
Natera Inc.	COM	632307104	5,576	170,000	SH		SOLE	N/A	170,000	0	0
National Retail Properties Inc. REIT	REIT	637417106	47,826	847,987	SH		SOLE	N/A	847,987	0	0
Netflix Inc.	COM	64110L106	59,407	221,983	SH		SOLE	N/A	221,983	0	0
NetEase Inc. ADR	ADR	64110W102	2,156	8,100	SH		SOLE	N/A	202,500	0	0
Newmont Goldcorp Corp.	COM	651639106	7,279	191,947	SH		SOLE	N/A	191,947	0	0
NextEra Energy Inc.	COM	65339F101	3,049	13,085	SH		SOLE	N/A	13,085	0	0
Nokia Corp. ADR	ADR	654902204	3,814	753,661	SH		SOLE	N/A	753,661	0	0
Northrop Grumman Corp.	COM	666807102	143,877	383,887	SH		SOLE	N/A	383,887	0	0
Nutrien Ltd.	COM	67077M108	73,666	1,477,944	SH		SOLE	N/A	1,477,944	0	0
Occidental Petroleum Corp.	COM	674599105	54,927	1,235,147	SH		SOLE	N/A	1,235,147	0	0
Okta Inc.	COM	679295105	7,385	75,000	SH		SOLE	N/A	75,000	0	0
Okta Inc.	CCB	679295AB1	1,028	489,000	PRN		SOLE	N/A	489,000	0	0
Old Dominion Freight Line Inc.	COM	679580100	69,940	411,487	SH		SOLE	N/A	411,487	0	0
Omnicom Group Inc.	COM	681919106	59,341	757,862	SH		SOLE	N/A	757,862	0	0
Open Text Corp.	COM	683715106	12,870	315,534	SH		SOLE	N/A	315,534	0	0
Oracle Corp.	COM	68389X105	19,020	345,628	SH		SOLE	N/A	345,628	0	0
Osisko Gold Royalties Ltd.	COM	68827L101	310	33,395	SH		SOLE	N/A	33,395	0	0
Pan American Silver Corp.	COM	697900108	612	39,000	SH		SOLE	N/A	39,000	0	0
Pattern Energy Group Inc.	CCB	70338PAB6	4,325	4,118,000	PRN		SOLE	N/A	4,118,000	0	0
PayPal Holdings Inc.	COM	70450Y103	43,379	418,754	SH		SOLE	N/A	418,754	0	0
Pembina Pipeline Corp.	COM	706327103	17,644	475,986	SH		SOLE	N/A	475,986	0	0
PepsiCo Inc.	COM	713448108	32,020	233,553	SH		SOLE	N/A	233,553	0	0
Petroleo Brasileiro SA ADR	ADR	71654V408	166	11,487	SH		SOLE	N/A	11,487	0	0
Pfizer Inc.	COM	717081103	19,842	552,237	SH		SOLE	N/A	552,237	0	0
Philip Morris International Inc.	COM	718172109	114,291	1,505,209	SH		SOLE	N/A	1,505,209	0	0
Planet Fitness Inc.	COM	72703H101	4,933	85,237	SH		SOLE	N/A	85,237	0	0
Precision Drilling Corp.	COM	74022D308	3,343	2,913,721	SH		SOLE	N/A	2,913,721	0	0
T Rowe Price Group Inc.	COM	74144T108	75,444	660,343	SH		SOLE	N/A	660,343	0	0
Booking Holdings Inc.	CB	741503AS5	2,093	1,400,000	SH		SOLE	N/A	1,400,000	0	0
Primerica Inc.	COM	74164M108	75,365	592,353	SH		SOLE	N/A	592,353	0	0
The Procter & Gamble Co.	COM	742718109	24,594	197,729	SH		SOLE	N/A	197,729	0	0
The Progressive Corp.	COM	743315103	66,647	862,743	SH		SOLE	N/A	862,743	0	0
Prologis Inc. REIT	REIT	74340W103	44,266	519,429	SH		SOLE	N/A	519,429	0	0
Regions Financial Corp.	COM	7591EP100	206	13,000	SH		SOLE	N/A	13,000	0	0
Resideo Technologies Inc.	COM	76118Y104	2,924	203,790	SH		SOLE	N/A	203,790	0	0
Restaurant Brands International Inc.	COM	76131D103	19,821	278,773	SH		SOLE	N/A	278,773	0	0
Rogers Communications Inc.	COM	775109200	26,232	538,555	SH		SOLE	N/A	0	0	0
Roper Technologies Inc.	COM	776696106	5,915	16,586	SH		SOLE	N/A	16,586	0	0
Royal Bank of Canada	COM	780087102	77,524	955,691	SH		SOLE	N/A	955,691	0	0
SPDR Bloomberg Barclays	ETF	78468R663	122,612	1,338,703	SH		SOLE	N/A	1,338,703	0	0
SSR Mining Inc.	COM	784730103	920	63,482	SH		SOLE	N/A	63,482	0	0
Sandstorm Gold Ltd.	COM	80013R206	176	31,121	SH		SOLE	N/A	31,121	0	0
SAP SE ADR	ADR	803054204	5,919	50,218	SH		SOLE	N/A	50,218	0	0
Sarepta Therapeutics Inc.	COM	803607100	3,766	50,000	SH		SOLE	N/A	50,000	0	0
Henry Schein Inc.	COM	806407102	228	3,590	SH		SOLE	N/A	3,590	0	0
The Scotts Miracle-Gro Co.	COM	810186106	3,564	35,000	SH		SOLE	N/A	35,000	0	0
Sempra Energy	COM	816851109	1,065	7,214	SH		SOLE	N/A	7,214	0	0
ServiceNow Inc.	COM	81762P102	62,794	247,365	SH		SOLE	N/A	247,365	0	0
ServiceNow Inc.	CCB	81762PAC6	1,053	550,000	PRN		SOLE	N/A	550,000	0	0
Shaw Communications Inc.	COM	82028K200	3,666	186,606	SH		SOLE	N/A	0	0	0
The Sherwin-Williams Co.	COM	824348106	88,664	161,245	SH		SOLE	N/A	161,245	0	0
Shopify Inc.	COM	82509L107	7,810	25,060	SH		SOLE	N/A	25,060	0	0
Silver Standard Resources Inc.	CCB	82823LAC0	1,021	1,000,000	PRN		SOLE	N/A	1,000,000	0	0
SilverCrest Metals Inc.	COM	828363101	5,909	1,132,936	SH		SOLE	N/A	1,132,936	0	0
Simon Property Group Inc. REIT	REIT	828806109	394	2,532	SH		SOLE	N/A	2,532	0	0
AO Smith Corp.	COM	831865209	1,086	22,772	SH		SOLE	N/A	2,277	0	0
Tesla Energy Operations Inc.	CCB	83416TAC4	1,235	1,250,000	PRN		SOLE	N/A	1,250,000	0	0
Solitario Zinc Corp.	COM	8342EP107	31	111,630	SH		SOLE	N/A	111,630	0	0
Sony Corp. ADR	ADR	835699307	12,536	212,000	SH		SOLE	N/A	2,120	0	0
Southern Copper Corp.	COM	84265V105	14,308	419,211	SH		SOLE	N/A	419,211	0	0
Square Inc.	COM	852234103	46,765	754,877	SH		SOLE	N/A	754,877	0	0
Square Inc.	CCB	852234AB9	2,172	798,000	PRN		SOLE	N/A	798,000	0	0
Stifel Financial Corp.	COM	860630102	10,926	190,414	SH		SOLE	N/A	190,414	0	0
Stryker Corp.	COM	863667101	433	2,000	SH		SOLE	N/A	2,000	0	0
Sun Life Financial Inc.	COM	866796105	17,457	390,416	SH		SOLE	N/A	390,416	0	0
Suncor Energy Inc.	COM	867224107	33,016	1,046,694	SH		SOLE	N/A	1,046,694	0	0
SunPower Corp.	CCB	867652AL3	2,352	2,600,000	PRN		SOLE	N/A	2,600,000	0	0
Synchrony Financial	COM	87165B103	69,733	2,045,550	SH		SOLE	N/A	2,045,550	0	0
The TJX Cos. Inc.	COM	872540109	42,461	761,770	SH		SOLE	N/A	761,770	0	0
T-Mobile US Inc.	COM	872590104	119,745	1,520,188	SH		SOLE	N/A	1,520,188	0	0
TAL Education Group ADR	ADR	874080104	890	26,000	SH		SOLE	N/A	8,666	0	0
Teck Resources Ltd.	COM	878742204	10,737	662,212	SH		SOLE	N/A	662,212	0	0
TELUS Corp.	COM	87971M103	21,552	605,593	SH		SOLE	N/A	605,593	0	0
Tenaris SA ADR	ADR	88031M109	17,973	848,582	SH		SOLE	N/A	848,582	0	0
Tesla Inc.	CCB	88160RAD3	963	950,000	PRN		SOLE	N/A	950,000	0	0
Teva Pharmaceutical Industries Ltd. ADR	ADR	881624209	9,902	1,439,221	SH		SOLE	N/A	1,439,221	0	0
Tetra Tech Inc.	COM	88162G103	2,581	29,749	SH		SOLE	N/A	29,749	0	0
Texas Instruments Inc.	COM	882508104	1,189	9,197	SH		SOLE	N/A	9,197	0	0
The Trade Desk Inc.	COM	88339J105	2,813	15,000	SH		SOLE	N/A	15,000	0	0
Thermo Fisher Scientific Inc.	COM	883556102	42,338	145,357	SH		SOLE	N/A	145,357	0	0
3M Co.	COM	88579Y101	61,800	375,910	SH		SOLE	N/A	375,910	0	0
The Timken Co.	COM	887389104	13	295	SH		SOLE	N/A	295	0	0
Toronto-Dominion Bank	COM	891160509	80,053	1,372,914	SH		SOLE	N/A	1,372,914	0	0
Trex Co. Inc.	COM	89531P105	5,442	59,849	SH		SOLE	N/A	59,849	0	0
Trimble Inc.	COM	896239100	3,265	84,118	SH		SOLE	N/A	84,118	0	0
Twilio Inc.	COM	90138F102	3,299	30,000	SH		SOLE	N/A	30,000	0	0
Twitter Inc.	CCB	90184LAD4	1,477	1,500,000	PRN		SOLE	N/A	1,500,000	0	0
Tyson Foods Inc.	COM	902494103	3,261	37,859	SH		SOLE	N/A	37,859	0	0
US Bancorp	COM	902973304	27,057	488,929	SH		SOLE	N/A	488,929	0	0
United Rentals Inc.	COM	911363109	44,251	355,030	SH		SOLE	N/A	355,030	0	0
United Technologies Corp.	COM	913017109	25,918	189,848	SH		SOLE	N/A	189,848	0	0
UnitedHealth Group Inc.	COM	91324P102	92,900	427,480	SH		SOLE	N/A	427,480	0	0
Universal Display Corp.	COM	91347P105	8,910	53,070	SH		SOLE	N/A	53,070	0	0
Valero Energy Corp.	COM	91913Y100	843	9,888	SH		SOLE	N/A	9,888	0	0
Vanguard Total Bond Market ETF	ETF	921937835	15	182	SH		SOLE	N/A	0	0	0
Vanguard Total International Bond ETF	ETF	92203J407	20	339	SH		SOLE	N/A	0	0	0
Vanguard FTSE Emerging Markets ETF	ETF	922042858	10	254	SH		SOLE	N/A	254	0	0
Vanguard FTSE Europe ETF	ETF	922042874	6	104	SH		SOLE	N/A	104	0	0
Vector Group Ltd.	CCB	92240MBC1	1,039	1,000,000	PRN		SOLE	N/A	1,000,000	0	0
Verint Systems Inc.	COM	92343X100	571	13,349	SH		SOLE	N/A	13,349	0	0
Visa Inc.	COM	92826C839	51,649	300,269	SH		SOLE	N/A	300,269	0	0
WEC Energy Group Inc.	COM	92939U106	380	4,000	SH		SOLE	N/A	4,000	0	0
Wabtec Corp.	COM	929740108	1,592	22,151	SH		SOLE	N/A	22,151	0	0
Walmart Inc.	COM	931142103	28,550	240,563	SH		SOLE	N/A	240,563	0	0
Waste Connections Inc.	COM	94106B101	9,239	100,475	SH		SOLE	N/A	100,475	0	0
Waste Management Inc.	COM	94106L109	209,696	1,823,444	SH		SOLE	N/A	1,823,444	0	0
Watts Water Technologies Inc.	COM	942749102	1,831	19,535	SH		SOLE	N/A	19,535	0	0
Anthem Inc.	CCB	94973VBG1	1,087	325,000	PRN		SOLE	N/A	325,000	0	0
Wells Fargo & Co.	COM	949746101	19,134	379,336	SH		SOLE	N/A	379,336	0	0
Wells Fargo & Co.	CPFD	949746804	1,252	825	SH		SOLE	N/A	825	0	0
Western Copper And Gold Corp.	COM	95805V108	45	68,838	SH		SOLE	N/A	68,838	0	0
Western Digital Corp.	COM	958102105	17,987	301,596	SH		SOLE	N/A	301,596	0	0
Western Digital Corp.	CCB	958102AP0	4,742	4,950,000	PRN		SOLE	N/A	4,950,000	0	0
Westlake Chemical Corp.	COM	960413102	987	15,060	SH		SOLE	N/A	15,060	0	0
Wheaton Precious Metals Corp.	COM	962879102	9,754	371,987	SH		SOLE	N/A	371,987	0	0
Whiting Petroleum Corp.	CCB	966387AL6	557	570,000	PRN		SOLE	N/A	570,000	0	0
The Williams Cos. Inc.	COM	969457100	77,625	3,226,318	SH		SOLE	N/A	3,226,318	0	0
Workday Inc.	COM	98138H101	56,175	330,520	SH		SOLE	N/A	330,520	0	0
Workday Inc.	CCB	98138HAF8	787	600,000	PRN		SOLE	N/A	600,000	0	0
WPX Energy Inc.	COM	98212B103	17,854	1,685,972	SH		SOLE	N/A	1,685,972	0	0
Xylem Inc.	COM	98419M100	5,264	66,112	SH		SOLE	N/A	66,112	0	0
Zscaler Inc.	COM	98980G102	3,308	70,000	SH		SOLE	N/A	70,000	0	0
Accenture PLC	COM	G1151C101	24,480	127,269	SH		SOLE	N/A	127,269	0	0
Brookfield Business Partners LP - Units	UNIT	G16234109	6,734	171,908	SH		SOLE	N/A	171,908	0	0
Brookfield Infrastructure Partners LP	LTD PART	G16252101	5,251	106,053	SH		SOLE	N/A	106,053	0	0
Brookfield Renewable Partners LP	LTD PART	G16258108	3,623	89,227	SH		SOLE	N/A	89,227	0	0
China Biologic Products Holdings Inc.	COM	G21515104	24,621	215,088	SH		SOLE	N/A	215,088	0	0
Credicorp Ltd.	COM	G2519Y108	12,513	60,030	SH		SOLE	N/A	60,030	0	0
Eaton Corp. PLC	COM	G29183103	1,519	18,272	SH		SOLE	N/A	18,272	0	0
IHS Markit Ltd.	COM	G47567105	8,736	130,617	SH		SOLE	N/A	130,617	0	0
Invesco Ltd.	COM	G491BT108	33,716	1,990,307	SH		SOLE	N/A	1,990,307	0	0
Medtronic PLC	COM	G5960L103	6,577	60,552	SH		SOLE	N/A	60,552	0	0
Aptiv PLC	COM	G6095L109	4,147	47,441	SH		SOLE	N/A	47,441	0	0
Chubb Ltd.	COM	H1467J104	187,482	1,161,308	SH		SOLE	N/A	1,161,308	0	0
Logitech International SA	ADR	H50430232	4,095	100,506	SH		SOLE	N/A	100,506	0	0
Globant SA	COM	L44385109	9,658	105,459	SH		SOLE	N/A	105,459	0	0
Spotify Technology SA	COM	L8681T102	5,958	52,264	SH		SOLE	N/A	52,264	0	0