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
Expires:	Oct 31, 2018
Estimated average burden
hours per response:		23.8

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	13,342	217,231	SH		OTR	1	0	217,231	0
Health Care Select Sector SPDR ETF	ETF	81369Y209	97,409	956,298	SH		OTR	1	0	956,298	0
Consumer Staples Select Sector SPDR ETF	ETF	81369Y308	35,879	569,687	SH		OTR	1	0	569,687	0
SPDR S&P Consumer Discretionary Select Sector ETF	ETF	81369Y407	34,585	275,751	SH		OTR	1	0	275,751	0
SPDR S&P Energy Select Sector ETF	ETF	81369Y506	3,476	57,887	SH		OTR	1	0	57,887	0
Financial Select Sector SPDR ETF	ETF	81369Y605	79,069	2,568,855	SH		OTR	1	0	2,568,855	0
Industrial Select Sector SPDR ETF	ETF	81369Y704	71,001	871,496	SH		OTR	1	0	871,496	0
SPDR S&P Technology Select Sector ETF	ETF	81369Y803	84,282	919,407	SH		OTR	1	0	919,407	0
Communication Services Select Sector SPDR Fund	ETF	81369Y852	51,641	962,909	SH		OTR	1	0	0	0
Real Estate Select Sector SPDR ETF	ETF	81369Y860	26,741	691,509	SH		OTR	1	0	0	0
Utilities Select Sector SPDR ETF	ETF	81369Y886	4,976	77,010	SH		OTR	1	0	77,010	0
Aflac Inc.	COM	001055102	55,333	1,045,997	SH		SOLE	N/A	1,045,997	0	0
AGCO Corp.	COM	001084102	65,133	843,141	SH		SOLE	N/A	843,141	0	0
AGFiQ Dynamic Hedged U.S. Equity ETF	ETF	00110G507	2,486	90,000	SH		SOLE	N/A	0	0	0
AGFiQ Global Infrastructure ETF	ETF	00110G606	2,395	90,000	SH		SOLE	N/A	0	0	0
AMN Healthcare Services Inc.	COM	001744101	521	8,362	SH		SOLE	N/A	8,362	0	0
AT&T Inc.	COM	00206R102	122,005	3,121,922	SH		SOLE	N/A	3,121,922	0	0
AbbVie Inc.	COM	00287Y109	116,185	1,312,233	SH		SOLE	N/A	1,312,233	0	0
Activision Blizzard Inc.	COM	00507V109	327	5,500	SH		SOLE	N/A	5,500	0	0
Adobe Inc.	COM	00724F101	27,326	82,853	SH		SOLE	N/A	82,853	0	0
AdvanSix Inc.	COM	00773T101	1,208	60,524	SH		SOLE	N/A	60,524	0	0
Advanced Micro Devices Inc.	COM	007903107	64,774	1,412,421	SH		SOLE	N/A	1,412,421	0	0
Advanced Micro Devices Inc.	CCB	007903BD8	1,304	225,000	PRN		SOLE	N/A	225,000	0	0
Agnico Eagle Mines Ltd.	COM	008474108	20,693	335,967	SH		SOLE	N/A	335,967	0	0
Alamos Gold Inc.	COM	011532108	1,792	297,154	SH		SOLE	N/A	297,154	0	0
Alaska Air Group Inc.	COM	011659109	80,954	1,194,889	SH		SOLE	N/A	1,194,889	0	0
Albemarle Corp.	COM	012653101	1,666	22,807	SH		SOLE	N/A	22,807	0	0
Alexandria Real Estate Equities Inc.	REIT	015271109	2,653	16,418	SH		SOLE	N/A	16,418	0	0
Alexion Pharmaceuticals Inc.	COM	015351109	2,870	26,541	SH		SOLE	N/A	26,541	0	0
Algonquin Power & Utilities Corp.	COM	015857105	11,078	783,056	SH		SOLE	N/A	783,056	0	0
Alibaba Group Holding Ltd. ADR	ADR	01609W102	220,759	1,040,825	SH		SOLE	N/A	8,326,600	0	0
Ally Financial Inc.	COM	02005N100	260	8,500	SH		SOLE	N/A	8,500	0	0
Alphabet Inc.	COM	02079K305	55,445	41,396	SH		SOLE	N/A	41,396	0	0
Alteryx Inc.	CCB	02156BAB9	1,164	500,000	PRN		SOLE	N/A	500,000	0	0
Amarin Corp. PLC ADR	ADR	023111206	11,290	526,583	SH		SOLE	N/A	526,583	0	0
Amazon.com Inc.	COM	023135106	164,236	88,880	SH		SOLE	N/A	88,880	0	0
Amedisys Inc.	COM	023436108	4,173	25,000	SH		SOLE	N/A	25,000	0	0
American Water Works Co. Inc.	COM	030420103	3,029	24,655	SH		SOLE	N/A	24,655	0	0
Amgen Inc.	COM	031162100	36,317	150,649	SH		SOLE	N/A	150,649	0	0
Amphenol Corp.	COM	032095101	1,944	17,966	SH		SOLE	N/A	17,966	0	0
Analog Devices Inc.	COM	032654105	4,466	37,582	SH		SOLE	N/A	37,582	0	0
AngloGold Ashanti Ltd. ADR	ADR	035128206	3,101	138,798	SH		SOLE	N/A	138,798	0	0
ANSYS Inc.	COM	03662Q105	4,010	15,580	SH		SOLE	N/A	15,580	0	0
Apple Inc.	COM	037833100	30,741	104,686	SH		SOLE	N/A	104,686	0	0
Atmos Energy Corp.	COM	049560105	1,245	11,126	SH		SOLE	N/A	11,126	0	0
Avalara Inc.	COM	05338G106	3,663	50,000	SH		SOLE	N/A	50,000	0	0
Avantor Inc. Preferred	CPFD	05352A209	1,260	20,000	SH		SOLE	N/A	20,000	0	0
Avery Dennison Corp.	COM	053611109	501	3,829	SH		SOLE	N/A	3,829	0	0
BCE Inc.	COM	05534B760	8,533	184,188	SH		SOLE	N/A	184,188	0	0
BRP Inc.	COM	05577W200	11,994	263,256	SH		SOLE	N/A	263,256	0	0
Baidu Inc. ADR	ADR	056752108	632	5,000	SH		SOLE	N/A	500	0	0
Bank of America Corp.	COM	060505104	1,863	52,909	SH		SOLE	N/A	52,909	0	0
Bank Of America Corp.	CPFD	060505682	1,207	833	SH		SOLE	N/A	833	0	0
Bank of Montreal	COM	063671101	30,413	392,419	SH		SOLE	N/A	392,419	0	0
Bank of Nova Scotia	COM	064149107	37,350	661,231	SH		SOLE	N/A	661,231	0	0
Barrick Gold Corp.	COM	067901108	12,593	677,418	SH		SOLE	N/A	677,418	0	0
Becton Dickinson and Co.	COM	075887109	272	1,000	SH		SOLE	N/A	1,000	0	0
Becton Dickinson and Co. Preferred	PFD	075887208	1,964	30,000	SH		SOLE	N/A	30,000	0	0
Berkshire Hathaway Inc.	COM	084670702	29,775	131,458	SH		SOLE	N/A	13	0	0
BioMarin Pharmaceutical Inc.	CCB	09061GAH4	1,321	1,250,000	PRN		SOLE	N/A	1,250,000	0	0
Booking Holdings Inc.	COM	09857L108	23,070	11,233	SH		SOLE	N/A	11,233	0	0
Booz Allen Hamilton Holding Corp.	COM	099502106	75,526	1,061,799	SH		SOLE	N/A	1,061,799	0	0
Boston Properties Inc. REIT	REIT	101121101	1,844	13,379	SH		SOLE	N/A	13,379	0	0
Boston Scientific Corp.	COM	101137107	1,422	31,439	SH		SOLE	N/A	31,439	0	0
Brighthouse Financial Inc.	COM	10922N103	3,334	84,979	SH		SOLE	N/A	84,979	0	0
Bristol-Myers Squibb Co.	COM	110122108	76,096	1,185,480	SH		SOLE	N/A	1,185,480	0	0
Broadcom Inc.	COM	11135F101	44,087	139,507	SH		SOLE	N/A	139,507	0	0
Brookfield Asset Management Inc.	COM	112585104	37,757	653,471	SH		SOLE	N/A	653,471	0	0
B2Gold Corp.	COM	11777Q209	2,135	532,135	SH		SOLE	N/A	532,135	0	0
CAE Inc.	COM	124765108	8,643	326,464	SH		SOLE	N/A	326,464	0	0
CBRE Group Inc.	COM	12504L109	1,898	30,971	SH		SOLE	N/A	30,971	0	0
CGI Inc.	COM	12532H104	40,645	485,692	SH		SOLE	N/A	485,692	0	0
Cigna Corp.	COM	125523100	25,766	126,000	SH		SOLE	N/A	126,000	0	0
CRH Medical Corp.	COM	12626F105	39	11,369	SH		SOLE	N/A	11,369	0	0
CVS Health Corp.	COM	126650100	46,652	627,977	SH		SOLE	N/A	627,977	0	0
Camden Property Trust REIT	REIT	133131102	988	9,316	SH		SOLE	N/A	9,316	0	0
Canadian National Railway Co.	COM	136375102	55,874	617,652	SH		SOLE	N/A	617,652	0	0
Canadian Natural Resources Ltd.	COM	136385101	18,834	582,304	SH		SOLE	N/A	582,304	0	0
Canadian Pacific Railway Ltd.	COM	13645T100	19,748	77,468	SH		SOLE	N/A	77,468	0	0
Cemex SAB de CV	CCB	151290BT9	1,003	1,000,000	PRN		SOLE	N/A	0	0	0
Centene Corp.	COM	15135B101	77,979	1,240,326	SH		SOLE	N/A	1,240,326	0	0
Cenovus Energy Inc.	COM	15135U109	771	75,835	SH		SOLE	N/A	75,835	0	0
Charles & Colvard Ltd.	COM	159765106	2,591	1,825,000	SH		SOLE	N/A	1,825,000	0	0
The Chefs' Warehouse Inc.	COM	163086101	3,811	100,000	SH		SOLE	N/A	100,000	0	0
Chegg Inc.	COM	163092109	5,687	150,000	SH		SOLE	N/A	150,000	0	0
Cheniere Energy Inc.	COM	16411R208	860	14,080	SH		SOLE	N/A	14,080	0	0
Cheniere Energy Inc.	CCB	16411RAG4	1,575	2,000,000	PRN		SOLE	N/A	2,000,000	0	0
Chevron Corp.	COM	166764100	7,518	62,387	SH		SOLE	N/A	62,387	0	0
Cisco Systems Inc.	COM	17275R102	18,546	386,690	SH		SOLE	N/A	386,690	0	0
Citigroup Inc.	COM	172967424	2,823	35,337	SH		SOLE	N/A	35,337	0	0
Colliers International Group Inc.	COM	194693107	435	5,584	SH		SOLE	N/A	5,584	0	0
IH Merger Sub LLC	CCB	19625XAB8	1,345	1,000,000	PRN		SOLE	N/A	1,000,000	0	0
Comcast Corp.	COM	20030N101	22,742	505,718	SH		SOLE	N/A	59,321	0	0
Concho Resources Inc.	COM	20605P101	271	3,099	SH		SOLE	N/A	3,099	0	0
ConocoPhillips	COM	20825C104	1,154	17,753	SH		SOLE	N/A	17,753	0	0
CoreSite Realty Corp. REIT	REIT	21870Q105	1,557	13,890	SH		SOLE	N/A	13,890	0	0
Corteva Inc.	COM	22052L104	3,258	110,206	SH		SOLE	N/A	110,206	0	0
Costco Wholesale Corp.	COM	22160K105	105,881	360,238	SH		SOLE	N/A	360,238	0	0
CoStar Group Inc.	COM	22160N109	43,225	72,247	SH		SOLE	N/A	72,247	0	0
Coupa Software Inc.	CCB	22266LAB2	985	300,000	PRN		SOLE	N/A	300,000	0	0
Covetrus Inc.	COM	22304C100	20	1,525	SH		SOLE	N/A	1,525	0	0
Cree Inc.	COM	225447101	1,593	34,528	SH		SOLE	N/A	34,528	0	0
Trip.com Group Ltd.	CCB	22943FAH3	1,522	1,450,000	PRN		SOLE	N/A	181,250	0	0
Trip.com Group Ltd.	CCB	22943FAM2	2,560	2,573,000	PRN		SOLE	N/A	321,625	0	0
Cummins Inc.	COM	231021106	3,872	21,638	SH		SOLE	N/A	21,638	0	0
Danaher Corp.	COM	235851102	23,928	155,904	SH		SOLE	N/A	155,904	0	0
Danaher Corp. Preferred	CPFD	235851300	1,474	1,250	SH		SOLE	N/A	1,250	0	0
The Descartes Systems Group Inc.	COM	249906108	9,670	226,252	SH		SOLE	N/A	226,252	0	0
Devon Energy Corp.	COM	25179M103	182	6,993	SH		SOLE	N/A	6,993	0	0
Diamondback Energy Inc.	COM	25278X109	264	2,842	SH		SOLE	N/A	2,842	0	0
The Walt Disney Co.	COM	254687106	28,110	194,358	SH		SOLE	N/A	194,358	0	0
Dollar General Corp.	COM	256677105	19,135	122,676	SH		SOLE	N/A	122,676	0	0
Dow Inc.	COM	260557103	7,819	142,864	SH		SOLE	N/A	142,864	0	0
Duke Energy Corp.	COM	26441C204	1,365	14,970	SH		SOLE	N/A	14,970	0	0
Dupont De Nemours Inc.	COM	26614N102	8,053	125,429	SH		SOLE	N/A	125,429	0	0
EOG Resources Inc.	COM	26875P101	892	10,651	SH		SOLE	N/A	10,651	0	0
Eastman Chemical Co.	COM	277432100	1,019	12,857	SH		SOLE	N/A	12,857	0	0
Ecolab Inc.	COM	278865100	6,156	31,899	SH		SOLE	N/A	31,899	0	0
eHealth Inc.	COM	28238P109	15,406	160,344	SH		SOLE	N/A	160,344	0	0
Encana Corp.	COM	292505104	441	94,139	SH		SOLE	N/A	94,139	0	0
Enbridge Inc.	COM	29250N105	37,770	949,929	SH		SOLE	N/A	949,929	0	0
Enerplus Corp.	COM	292766102	2,544	357,165	SH		SOLE	N/A	357,165	0	0
Entergy Corp.	COM	29364G103	2,373	19,812	SH		SOLE	N/A	19,812	0	0
Enterprise Products Partners LP	COM	293792107	1,736	61,654	SH		SOLE	N/A	61,654	0	0
Equifax Inc.	COM	294429105	3,643	26,000	SH		SOLE	N/A	26,000	0	0
Equinix Inc. REIT	REIT	29444U700	51,906	88,926	SH		SOLE	N/A	88,926	0	0
Essex Property Trust Inc.	REIT	297178105	382	1,271	SH		SOLE	N/A	1,271	0	0
Etsy Inc.	COM	29786A106	2,880	65,000	SH		SOLE	N/A	65,000	0	0
Exxon Mobil Corp.	COM	30231G102	49,083	703,393	SH		SOLE	N/A	703,393	0	0
First Solar Inc.	COM	336433107	1,399	24,994	SH		SOLE	N/A	24,994	0	0
FleetCor Technologies Inc.	COM	339041105	66,563	231,347	SH		SOLE	N/A	231,347	0	0
Fomento Economico Mexicano SAB de CV ADR	ADR	344419106	12,344	130,615	SH		SOLE	N/A	130,615	0	0
Fortis Inc.	COM	349553107	3,338	80,453	SH		SOLE	N/A	80,453	0	0
Fortive Corp. Preferred	PFD	34959J207	827	850	SH		SOLE	N/A	850	0	0
Franco-Nevada Corp.	COM	351858105	7,233	70,046	SH		SOLE	N/A	70,046	0	0
Franklin FTSE Japan ETF	ETF	35473P744	58,603	2,241,031	SH		SOLE	N/A	0	0	0
GDS Holdings Ltd. ADR	ADR	36165L108	3,890	75,425	SH		SOLE	N/A	603,400	0	0
GW Pharmaceuticals PLC ADR	ADR	36197T103	3,466	33,148	SH		SOLE	N/A	33,148	0	0
Garrett Motion Inc.	COM	366505105	1,159	115,984	SH		SOLE	N/A	115,984	0	0
Global Payments Inc.	COM	37940X102	96,774	530,096	SH		SOLE	N/A	530,096	0	0
Global X MSCI Norway ETF	ETF	37950E747	11,052	882,080	SH		SOLE	N/A	882,080	0	0
Globus Medical Inc.	COM	379577208	4,122	70,000	SH		SOLE	N/A	70,000	0	0
Golden Star Resources Ltd.	COM	38119T807	836	220,580	SH		SOLE	N/A	220,580	0	0
Goosehead Insurance Inc.	COM	38267D109	3,392	80,000	SH		SOLE	N/A	80,000	0	0
HDFC Bank Ltd. ADR	ADR	40415F101	1,191	18,800	SH		SOLE	N/A	18,800	0	0
Hannon Armstrong Sustainable Infrastructure Capital Inc. REIT	REIT	41068X100	2,703	83,991	SH		SOLE	N/A	83,991	0	0
Hannon Armstrong Sustainable Infrastructure Capital Inc.	CCB	41068XAB6	2,367	1,960,000	PRN		SOLE	N/A	1,960,000	0	0
HealthEquity Inc.	COM	42226A107	4,815	65,000	SH		SOLE	N/A	65,000	0	0
HEICO Corp.	COM	422806109	11,147	97,656	SH		SOLE	N/A	97,656	0	0
The Home Depot Inc.	COM	437076102	36,092	165,271	SH		SOLE	N/A	165,271	0	0
Honeywell International Inc.	COM	438516106	228,783	1,292,562	SH		SOLE	N/A	1,292,562	0	0
Hudbay Minerals Inc.	COM	443628102	1,560	376,600	SH		SOLE	N/A	376,600	0	0
Huntington Ingalls Industries Inc.	COM	446413106	17,863	71,203	SH		SOLE	N/A	71,203	0	0
IDEXX Laboratories Inc.	COM	45168D104	39,116	149,795	SH		SOLE	N/A	149,795	0	0
Illumina Inc.	COM	452327109	53,505	161,286	SH		SOLE	N/A	161,286	0	0
ING Groep NV ADR	ADR	456837103	8	700	SH		SOLE	N/A	700	0	0
Ingredion Inc.	COM	457187102	301	3,235	SH		SOLE	N/A	3,235	0	0
Inphi Corp.	CCB	45772FAC1	1,344	950,000	PRN		SOLE	N/A	950,000	0	0
Innoviva Inc.	CCB	45781MAB7	813	750,000	PRN		SOLE	N/A	750,000	0	0
Intel Corp.	COM	458140100	14,682	245,309	SH		SOLE	N/A	245,309	0	0
International Business Machines Corp.	COM	459200101	35,293	263,300	SH		SOLE	N/A	263,300	0	0
International Flavors & Fragrances Inc.	COM	459506101	0	1	SH		SOLE	N/A	1	0	0
Intuit Inc.	COM	461202103	71,488	272,927	SH		SOLE	N/A	272,927	0	0
Intuitive Surgical Inc.	COM	46120E602	47,437	80,246	SH		SOLE	N/A	80,246	0	0
IQVIA Holdings Inc.	COM	46266C105	35,036	226,756	SH		SOLE	N/A	226,756	0	0
iShares MSCI World ETF	ETF	464286392	5	46	SH		SOLE	N/A	46	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	12,548	143,238	SH		SOLE	N/A	143,238	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	7,149	247,201	SH		SOLE	N/A	247,201	0	0
iShares MSCI South Korea ETF	ETF	464286772	35,782	575,373	SH		SOLE	N/A	575,373	0	0
iShares MSCI Germany ETF	ETF	464286806	13,724	466,793	SH		SOLE	N/A	466,793	0	0
iShares Core S&P 500 ETF	ETF	464287200	71,620	221,570	SH		SOLE	N/A	221,570	0	0
iShares MSCI Emerging Markets ETF	ETF	464287234	10,096	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 iBoxx	ETF	464288513	6	65	SH		SOLE	N/A	65	0	0
iShares MSCI India ETF	ETF	46429B598	34,374	977,920	SH		SOLE	N/A	977,920	0	0
iShares MSCI China ETF	ETF	46429B671	34,740	542,056	SH		SOLE	N/A	542,056	0	0
iShares MSCI Singapore ETF	ETF	46434G780	60,833	2,520,000	SH		SOLE	N/A	2,520,000	0	0
iShares MSCI Japan ETF	ETF	46434G822	58,710	991,058	SH		SOLE	N/A	991,058	0	0
iShares MSCI Italy ETF	ETF	46434G830	13,752	466,186	SH		SOLE	N/A	466,186	0	0
JPMorgan Chase & Co.	COM	46625H100	202,462	1,452,382	SH		SOLE	N/A	1,452,382	0	0
Jacobs Engineering Group Inc.	COM	469814107	84,125	936,490	SH		SOLE	N/A	936,490	0	0
Jazz Investments I Ltd.	CCB	472145AB7	1,028	1,000,000	PRN		SOLE	N/A	1,000,000	0	0
JD.com Inc. ADR	ADR	47215P106	1,233	35,000	SH		SOLE	N/A	70,000	0	0
Johnson & Johnson	COM	478160104	43,032	295,003	SH		SOLE	N/A	295,003	0	0
Jones Lang Lasalle Inc.	COM	48020Q107	463	2,661	SH		SOLE	N/A	2,661	0	0
Keysight Technologies Inc.	COM	49338L103	81,356	792,708	SH		SOLE	N/A	792,708	0	0
Kinross Gold Corp.	COM	496902404	2,886	608,283	SH		SOLE	N/A	608,283	0	0
Kirkland Lake Gold Ltd.	COM	49741E100	15,180	344,376	SH		SOLE	N/A	344,376	0	0
The Kraft Heinz Co.	COM	500754106	29,974	932,884	SH		SOLE	N/A	932,884	0	0
LPL Financial Holdings Inc.	COM	50212V100	6,919	75,000	SH		SOLE	N/A	75,000	0	0
The Estee Lauder Cos. Inc.	COM	518439104	46,408	224,692	SH		SOLE	N/A	224,692	0	0
Liberty Interactive LLC	CCB	530715AN1	1,041	1,200,000	PRN		SOLE	N/A	1,200,000	0	0
Lincoln National Corp.	COM	534187109	17,190	291,313	SH		SOLE	N/A	291,313	0	0
LivePerson Inc.	COM	538146101	6,105	165,000	SH		SOLE	N/A	165,000	0	0
Lockheed Martin Corp.	COM	539830109	28,151	72,298	SH		SOLE	N/A	72,298	0	0
Lululemon Athletica Inc.	COM	550021109	12,774	55,137	SH		SOLE	N/A	55,137	0	0
MSCI Inc.	COM	55354G100	35,681	138,202	SH		SOLE	N/A	138,202	0	0
MAG Silver Corp.	COM	55903Q104	398	33,718	SH		SOLE	N/A	33,718	0	0
Magna International Inc.	COM	559222401	1,909	34,816	SH		SOLE	N/A	34,816	0	0
Manulife Financial Corp.	COM	56501R106	28,464	1,402,174	SH		SOLE	N/A	1,402,174	0	0
Marathon Petroleum Corp.	COM	56585A102	3,285	54,519	SH		SOLE	N/A	54,519	0	0
MarketAxess Holdings Inc.	COM	57060D108	65,125	171,783	SH		SOLE	N/A	171,783	0	0
Martin Marietta Materials Inc.	COM	573284106	2,619	9,367	SH		SOLE	N/A	9,367	0	0
MasTec Inc.	COM	576323109	6,416	100,000	SH		SOLE	N/A	100,000	0	0
McCormick and Co. Inc.	COM	579780206	1,963	11,563	SH		SOLE	N/A	0	0	0
McDonald's Corp.	COM	580135101	32,877	166,372	SH		SOLE	N/A	166,372	0	0
MercadoLibre Inc.	COM	58733R102	4,024	7,036	SH		SOLE	N/A	7,036	0	0
MetLife Inc.	COM	59156R108	48,037	942,466	SH		SOLE	N/A	942,466	0	0
Microsoft Corp.	COM	594918104	59,170	375,208	SH		SOLE	N/A	375,208	0	0
Microchip Technology Inc.	CCB	595017AF1	1,175	825,000	PRN		SOLE	N/A	825,000	0	0
Mondelez International Inc.	COM	609207105	132,427	2,404,271	SH		SOLE	N/A	2,404,271	0	0
Moody's Corp.	COM	615369105	130,348	549,042	SH		SOLE	N/A	549,042	0	0
Natera Inc.	COM	632307104	5,727	170,000	SH		SOLE	N/A	170,000	0	0
National Retail Properties Inc. REIT	REIT	637417106	29,376	547,856	SH		SOLE	N/A	547,856	0	0
NetEase Inc. ADR	ADR	64110W102	2,361	7,700	SH		SOLE	N/A	192,500	0	0
Newmont Goldcorp Corp.	COM	651639106	8,448	194,424	SH		SOLE	N/A	194,424	0	0
NextEra Energy Inc.	COM	65339F101	4,867	20,097	SH		SOLE	N/A	20,097	0	0
NextEra Energy Partners LP	COM	65341B106	1,696	32,221	SH		SOLE	N/A	32,221	0	0
Northrop Grumman Corp.	COM	666807102	124,871	363,030	SH		SOLE	N/A	363,030	0	0
Nutrien Ltd.	COM	67077M108	67,312	1,405,549	SH		SOLE	N/A	1,405,549	0	0
Okta Inc.	CCB	679295AB1	1,185	489,000	PRN		SOLE	N/A	489,000	0	0
Old Dominion Freight Line Inc.	COM	679580100	74,054	390,212	SH		SOLE	N/A	390,212	0	0
Omnicom Group Inc.	COM	681919106	59,950	739,936	SH		SOLE	N/A	739,936	0	0
Open Text Corp.	COM	683715106	13,904	315,534	SH		SOLE	N/A	315,534	0	0
Oracle Corp.	COM	68389X105	18,311	345,628	SH		SOLE	N/A	345,628	0	0
Packaging Corp. of America	COM	695156109	1,491	13,312	SH		SOLE	N/A	13,312	0	0
Pan American Silver Corp.	COM	697900108	1,372	57,908	SH		SOLE	N/A	57,908	0	0
Papa John's International Inc.	COM	698813102	6,315	100,000	SH		SOLE	N/A	100,000	0	0
Pembina Pipeline Corp.	COM	706327103	25,797	696,011	SH		SOLE	N/A	696,011	0	0
PepsiCo Inc.	COM	713448108	31,285	228,907	SH		SOLE	N/A	228,907	0	0
Petroleo Brasileiro SA ADR	ADR	71654V408	186	11,674	SH		SOLE	N/A	11,674	0	0
Pfizer Inc.	COM	717081103	20,134	513,888	SH		SOLE	N/A	513,888	0	0
Philip Morris International Inc.	COM	718172109	124,268	1,460,425	SH		SOLE	N/A	1,460,425	0	0
Planet Fitness Inc.	COM	72703H101	14,972	200,483	SH		SOLE	N/A	200,483	0	0
Precision Drilling Corp.	COM	74022D308	4,061	2,913,721	SH		SOLE	N/A	2,913,721	0	0
T Rowe Price Group Inc.	COM	74144T108	93,270	765,516	SH		SOLE	N/A	765,516	0	0
Booking Holdings Inc.	CB	741503AS5	2,173	1,400,000	SH		SOLE	N/A	1,400,000	0	0
Primerica Inc.	COM	74164M108	69,861	535,084	SH		SOLE	N/A	535,084	0	0
The Procter & Gamble Co.	COM	742718109	24,696	197,729	SH		SOLE	N/A	197,729	0	0
The Progressive Corp.	COM	743315103	5,213	72,012	SH		SOLE	N/A	72,012	0	0
Prologis Inc. REIT	REIT	74340W103	58,096	651,740	SH		SOLE	N/A	651,740	0	0
Regions Financial Corp.	COM	7591EP100	1,428	83,225	SH		SOLE	N/A	83,225	0	0
Resideo Technologies Inc.	COM	76118Y104	2,317	194,188	SH		SOLE	N/A	194,188	0	0
Restaurant Brands International Inc.	COM	76131D103	30,041	471,247	SH		SOLE	N/A	471,247	0	0
Rogers Communications Inc.	COM	775109200	27,357	550,944	SH		SOLE	N/A	0	0	0
Roku Inc.	COM	77543R102	55,912	417,565	SH		SOLE	N/A	417,565	0	0
Roper Technologies Inc.	COM	776696106	4,191	11,831	SH		SOLE	N/A	11,831	0	0
Royal Bank of Canada	COM	780087102	74,504	941,577	SH		SOLE	N/A	941,577	0	0
S&P Global Inc.	COM	78409V104	6,487	23,756	SH		SOLE	N/A	23,756	0	0
SSR Mining Inc.	COM	784730103	1,222	63,482	SH		SOLE	N/A	63,482	0	0
Sandstorm Gold Ltd.	COM	80013R206	232	31,121	SH		SOLE	N/A	31,121	0	0
SAP SE ADR	ADR	803054204	6,729	50,218	SH		SOLE	N/A	50,218	0	0
Henry Schein Inc.	COM	806407102	256	3,842	SH		SOLE	N/A	3,842	0	0
Scorpio Tankers Inc.	CCB	80918TAB5	2,146	1,750,000	PRN		SOLE	N/A	1,750,000	0	0
The Scotts Miracle-Gro Co.	COM	810186106	6,371	60,000	SH		SOLE	N/A	60,000	0	0
Sempra Energy	COM	816851109	1,337	8,829	SH		SOLE	N/A	8,829	0	0
ServiceNow Inc.	COM	81762P102	90,087	319,094	SH		SOLE	N/A	319,094	0	0
ServiceNow Inc.	CCB	81762PAC6	1,055	500,000	PRN		SOLE	N/A	500,000	0	0
Shaw Communications Inc.	COM	82028K200	3,289	162,092	SH		SOLE	N/A	0	0	0
The Sherwin-Williams Co.	COM	824348106	92,576	158,645	SH		SOLE	N/A	158,645	0	0
Shopify Inc.	COM	82509L107	11,951	30,060	SH		SOLE	N/A	30,060	0	0
SilverCrest Metals Inc.	COM	828363101	8,094	1,198,522	SH		SOLE	N/A	1,198,522	0	0
The Simply Good Foods Co.	COM	82900L102	11,014	385,917	SH		SOLE	N/A	385,917	0	0
AO Smith Corp.	COM	831865209	1,162	24,386	SH		SOLE	N/A	2,439	0	0
Snap Inc.	COM	83304A106	44,744	2,740,001	SH		SOLE	N/A	0	0	0
Solitario Zinc Corp.	COM	8342EP107	33	111,630	SH		SOLE	N/A	111,630	0	0
Sony Corp. ADR	ADR	835699307	14,416	212,000	SH		SOLE	N/A	2,120	0	0
Southern Copper Corp.	COM	84265V105	17,802	419,066	SH		SOLE	N/A	419,066	0	0
Square Inc.	COM	852234103	44,699	714,497	SH		SOLE	N/A	714,497	0	0
Square Inc.	CCB	852234AB9	1,155	423,000	PRN		SOLE	N/A	423,000	0	0
Stifel Financial Corp.	COM	860630102	13,979	230,487	SH		SOLE	N/A	230,487	0	0
Stryker Corp.	COM	863667101	315	1,500	SH		SOLE	N/A	1,500	0	0
Sun Life Financial Inc.	COM	866796105	15,253	334,520	SH		SOLE	N/A	334,520	0	0
Suncor Energy Inc.	COM	867224107	27,386	835,567	SH		SOLE	N/A	835,567	0	0
SunPower Corp.	CCB	867652AL3	2,123	2,600,000	PRN		SOLE	N/A	2,600,000	0	0
Synchrony Financial	COM	87165B103	71,717	1,991,598	SH		SOLE	N/A	1,991,598	0	0
The TJX Cos. Inc.	COM	872540109	45,891	751,569	SH		SOLE	N/A	751,569	0	0
T-Mobile US Inc.	COM	872590104	112,256	1,431,471	SH		SOLE	N/A	1,431,471	0	0
TAL Education Group ADR	ADR	874080104	1,253	26,000	SH		SOLE	N/A	8,666	0	0
Teck Resources Ltd.	COM	878742204	5,286	304,790	SH		SOLE	N/A	304,790	0	0
TELUS Corp.	COM	87971M103	23,129	597,342	SH		SOLE	N/A	597,342	0	0
Tenaris SA ADR	ADR	88031M109	19,206	848,300	SH		SOLE	N/A	848,300	0	0
Terreno Realty Corp. REIT	REIT	88146M101	3,790	70,000	SH		SOLE	N/A	70,000	0	0
Tesla Inc.	CCB	88160RAD3	1,344	950,000	PRN		SOLE	N/A	950,000	0	0
Teva Pharmaceutical Industries Ltd. ADR	ADR	881624209	13,565	1,384,201	SH		SOLE	N/A	1,384,201	0	0
Tetra Tech Inc.	COM	88162G103	3,179	36,899	SH		SOLE	N/A	36,899	0	0
Texas Instruments Inc.	COM	882508104	4,151	32,355	SH		SOLE	N/A	32,355	0	0
The Trade Desk Inc.	COM	88339J105	3,897	15,000	SH		SOLE	N/A	15,000	0	0
Thermo Fisher Scientific Inc.	COM	883556102	46,185	142,165	SH		SOLE	N/A	142,165	0	0
3M Co.	COM	88579Y101	64,177	363,775	SH		SOLE	N/A	363,775	0	0
The Timken Co.	COM	887389104	17	295	SH		SOLE	N/A	295	0	0
Toronto-Dominion Bank	COM	891160509	66,497	1,185,628	SH		SOLE	N/A	1,185,628	0	0
Trex Co. Inc.	COM	89531P105	6,581	73,220	SH		SOLE	N/A	73,220	0	0
Trimble Inc.	COM	896239100	3,507	84,118	SH		SOLE	N/A	84,118	0	0
Trip.com Group Ltd. ADR	ADR	89677Q107	26,757	797,753	SH		SOLE	N/A	99,719	0	0
Twilio Inc.	COM	90138F102	2,948	30,000	SH		SOLE	N/A	30,000	0	0
Twitter Inc.	CCB	90184LAD4	1,459	1,500,000	PRN		SOLE	N/A	1,500,000	0	0
Tyson Foods Inc.	COM	902494103	3,353	36,835	SH		SOLE	N/A	36,835	0	0
US Bancorp	COM	902973304	28,989	488,929	SH		SOLE	N/A	488,929	0	0
United Rentals Inc.	COM	911363109	85,333	511,681	SH		SOLE	N/A	511,681	0	0
United Technologies Corp.	COM	913017109	28,432	189,848	SH		SOLE	N/A	189,848	0	0
UnitedHealth Group Inc.	COM	91324P102	122,441	416,494	SH		SOLE	N/A	416,494	0	0
Universal Display Corp.	COM	91347P105	10,948	53,127	SH		SOLE	N/A	53,127	0	0
Valero Energy Corp.	COM	91913Y100	926	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	19	339	SH		SOLE	N/A	0	0	0
Vanguard FTSE Emerging Markets ETF	ETF	922042858	11	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	791	14,294	SH		SOLE	N/A	14,294	0	0
Visa Inc.	COM	92826C839	55,517	295,462	SH		SOLE	N/A	295,462	0	0
Voya Financial Inc.	COM	929089100	1,821	29,864	SH		SOLE	N/A	29,864	0	0
WEC Energy Group Inc.	COM	92939U106	369	4,000	SH		SOLE	N/A	4,000	0	0
Wabtec Corp.	COM	929740108	2,364	30,387	SH		SOLE	N/A	30,387	0	0
Walmart Inc.	COM	931142103	28,589	240,563	SH		SOLE	N/A	240,563	0	0
Waste Connections Inc.	COM	94106B101	10,854	119,521	SH		SOLE	N/A	119,521	0	0
Waste Management Inc.	COM	94106L109	202,081	1,773,260	SH		SOLE	N/A	1,773,260	0	0
Watts Water Technologies Inc.	COM	942749102	2,087	20,919	SH		SOLE	N/A	20,919	0	0
Anthem Inc.	CCB	94973VBG1	1,365	325,000	PRN		SOLE	N/A	325,000	0	0
Wells Fargo & Co.	COM	949746101	20,408	379,336	SH		SOLE	N/A	379,336	0	0
Wells Fargo & Co.	CPFD	949746804	1,196	825	SH		SOLE	N/A	825	0	0
Western Copper And Gold Corp.	COM	95805V108	57	68,838	SH		SOLE	N/A	68,838	0	0
Western Digital Corp.	COM	958102105	18,576	292,679	SH		SOLE	N/A	292,679	0	0
Western Digital Corp.	CCB	958102AP0	5,143	5,250,000	PRN		SOLE	N/A	5,250,000	0	0
Westlake Chemical Corp.	COM	960413102	1,131	16,127	SH		SOLE	N/A	16,127	0	0
Wheaton Precious Metals Corp.	COM	962879102	4,936	165,889	SH		SOLE	N/A	165,889	0	0
Whiting Petroleum Corp.	CCB	966387AL6	459	470,000	PRN		SOLE	N/A	470,000	0	0
The Williams Cos. Inc.	COM	969457100	91,378	3,852,368	SH		SOLE	N/A	3,852,368	0	0
WPX Energy Inc.	COM	98212B103	22,091	1,607,752	SH		SOLE	N/A	1,607,752	0	0
Xylem Inc.	COM	98419M100	4,268	54,172	SH		SOLE	N/A	54,172	0	0
Accenture PLC	COM	G1151C101	27,933	132,655	SH		SOLE	N/A	132,655	0	0
Brookfield Business Partners LP - Units	UNIT	G16234109	7,113	171,908	SH		SOLE	N/A	171,908	0	0
Brookfield Infrastructure Partners LP	LTD PART	G16252101	5,600	112,115	SH		SOLE	N/A	112,115	0	0
Brookfield Renewable Partners LP	LTD PART	G16258108	3,441	74,091	SH		SOLE	N/A	74,091	0	0
China Biologic Products Holdings Inc.	COM	G21515104	23,147	198,892	SH		SOLE	N/A	198,892	0	0
Credicorp Ltd.	COM	G2519Y108	13,529	63,479	SH		SOLE	N/A	63,479	0	0
Eaton Corp. PLC	COM	G29183103	4,709	49,718	SH		SOLE	N/A	49,718	0	0
IHS Markit Ltd.	COM	G47567105	9,842	130,617	SH		SOLE	N/A	130,617	0	0
Ingersoll-Rand PLC	COM	G47791101	3,587	26,986	SH		SOLE	N/A	26,986	0	0
Invesco Ltd.	COM	G491BT108	34,860	1,938,811	SH		SOLE	N/A	1,938,811	0	0
Medtronic PLC	COM	G5960L103	6,268	55,252	SH		SOLE	N/A	55,252	0	0
Aptiv PLC	COM	G6095L109	4,998	52,627	SH		SOLE	N/A	52,627	0	0
Golar LNG Ltd.	COM	G9456A100	781	54,902	SH		SOLE	N/A	54,902	0	0
Chubb Ltd.	COM	H1467J104	146,591	941,737	SH		SOLE	N/A	941,737	0	0
Logitech International SA	ADR	H50430232	4,740	100,506	SH		SOLE	N/A	100,506	0	0
Globant SA	COM	L44385109	11,184	105,459	SH		SOLE	N/A	105,459	0	0
Spotify Technology SA	COM	L8681T102	8,863	59,264	SH		SOLE	N/A	59,264	0	0