Intact Investment 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
Expires:	Oct 31, 2018
Estimated average burden
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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
3M CO	COM	88579Y101	7,593	39,400	SH		SOLE		0	39,400	0
ABBOTT LABS	COM	002824100	1,750	14,600	SH		SOLE		0	14,600	0
ABBVIE INC	COM	00287Y109	16,014	148,000	SH		SOLE		0	148,000	0
ABSOLUTE SOFTWARE CORP	COM	00386B109	2,111	121,000	SH		SOLE		0	121,000	0
ACCENTURE PLC IRELAND	SHS CLASS A	G1151C101	442	1,600	SH		SOLE		0	1,600	0
ACTIVISION BLIZZARD INC	COM	00507V109	651	7,000	SH		SOLE		0	7,000	0
ADOBE SYSTEMS INCORPORATED	COM	00724F101	1,711	3,600	SH		SOLE		0	3,600	0
ADVANCE AUTO PARTS INC	COM	00751Y106	771	4,200	SH		SOLE		0	4,200	0
ADVANCED MICRO DEVICES INC	COM	007903107	605	7,701	SH		SOLE		0	7,701	0
AGNICO EAGLE MINES LTD	COM	008474108	5,583	76,900	SH		SOLE		0	76,900	0
AIR PRODS & CHEMS INC	COM	009158106	8,780	31,200	SH		SOLE		0	31,200	0
AKAMAI TECHNOLOGIES INC	COM	00971T101	611	6,000	SH		SOLE		0	6,000	0
ALAMOS GOLD INC NEW	COM CL A	011532108	7,985	814,800	SH		SOLE		0	814,800	0
ALGONQUIN PWR UTILS CORP	COM	015857105	63,420	3,188,560	SH		SOLE		0	3,188,560	0
ALLSTATE CORP	COM	020002101	1,149	10,000	SH		SOLE		0	10,000	0
ALPHABET INC	CAP STK CL C	02079K107	414	200	SH		SOLE		0	200	0
ALPHABET INC	CAP STK CL A	02079K305	5,980	2,900	SH		SOLE		0	2,900	0
ALTRIA GROUP INC	COM	02209S103	10,628	207,700	SH		SOLE		0	207,700	0
AMAZON COM INC	COM	023135106	7,735	2,500	SH		SOLE		0	2,500	0
AMERICAN TOWER CORP NEW	COM	03027X100	12,359	51,700	SH		SOLE		0	51,700	0
AMERICAN WTR WKS CO INC NEW	COM	030420103	3,476	23,200	SH		SOLE		0	23,200	0
AMERISOURCEBERGEN CORP	COM	03073E105	614	5,200	SH		SOLE		0	5,200	0
AMGEN INC	COM	031162100	8,260	33,200	SH		SOLE		0	33,200	0
ANALOG DEVICES INC	COM	032654105	5,583	36,000	SH		SOLE		0	36,000	0
APPLE INC	COM	037833100	10,360	84,800	SH		SOLE		0	84,800	0
APPLIED MATLS INC	COM	038222105	3,754	28,100	SH		SOLE		0	28,100	0
ARCHER DANIELS MIDLAND CO	COM	039483102	1,961	34,400	SH		SOLE		0	34,400	0
AT&T INC	COM	00206R102	16,340	540,000	SH		SOLE		0	540,000	0
AUTOMATIC DATA PROCESSING IN	COM	053015103	2,884	15,300	SH		SOLE		0	15,300	0
AVALONBAY CMNTYS INC	COM	053484101	3,450	18,700	SH		SOLE		0	18,700	0
B2GOLD CORP	COM	11777Q209	4,486	830,700	SH		SOLE		0	830,700	0
BAKER HUGHES COMPANY	CL A	05722G100	3,847	178,100	SH		SOLE		0	178,100	0
BANK MONTREAL QUE	COM	063671101	143,142	1,278,743	SH		SOLE		0	1,278,743	0
BANK NEW YORK MELLON CORP	COM	064058100	6,706	141,800	SH		SOLE		0	141,800	0
BANK NOVA SCOTIA B C	COM	064149107	85,278	1,085,240	SH		SOLE		0	1,085,240	0
BARRICK GOLD CORP	COM	067901108	18,493	741,800	SH		SOLE		0	741,800	0
BAUSCH HEALTH COS INC	COM	071734107	5,120	129,600	SH		SOLE		0	129,600	0
BAXTER INTL INC	COM	071813109	641	7,600	SH		SOLE		0	7,600	0
BCE INC	COM NEW	05534B760	34,914	615,760	SH		SOLE		0	615,760	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	2,096	8,200	SH		SOLE		0	8,200	0
BK OF AMERICA CORP	COM	060505104	9,005	232,500	SH		SOLE		0	232,500	0
BLACKROCK INC	COM	09247X101	7,615	10,100	SH		SOLE		0	10,100	0
BOEING CO	COM	097023105	866	3,400	SH		SOLE		0	3,400	0
BOSTON PROPERTIES INC	COM	101121101	3,660	36,100	SH		SOLE		0	36,100	0
BOSTON SCIENTIFIC CORP	COM	101137107	1,074	27,800	SH		SOLE		0	27,800	0
BRISTOL-MYERS SQUIBB CO	COM	110122108	14,993	237,500	SH		SOLE		0	237,500	0
BROADCOM INC	COM	11135F101	15,069	32,500	SH		SOLE		0	32,500	0
BROOKFIELD ASSET MGMT INC	CL A LTD VT SH	112585104	57,259	1,027,065	SH		SOLE		0	1,027,065	0
BROOKFIELD BUSINESS PARTNERS	UNIT LTD L P	G16234109	3,905	77,700	SH		SOLE		0	77,700	0
BROOKFIELD INFRAST PARTNERS	LP INT UNIT	G16252101	21,320	319,111	SH		SOLE		0	319,111	0
BROOKFIELD RENEWABLE CORP	CL A SUB VTG	11284V105	1,161	19,800	SH		SOLE		0	19,800	0
BRP INC	COM SUN VTG	05577W200	8,548	78,600	SH		SOLE		0	78,600	0
CANADIAN IMP BK COMM	COM	136069101	68,216	554,600	SH		SOLE		0	554,600	0
CANADIAN NAT RES LTD	COM	136385101	83,375	2,151,050	SH		SOLE		0	2,151,050	0
CANADIAN NATL RY CO	COM	136375102	84,577	580,803	SH		SOLE		0	580,803	0
CANADIAN PAC RY LTD	COM	13645T100	21,705	45,550	SH		SOLE		0	45,550	0
CANOPY GROWTH CORP	COM	138035100	14,746	367,100	SH		SOLE		0	367,100	0
CASELLA WASTE SYS INC	CL A	147448104	261	4,100	SH		SOLE		0	4,100	0
CATERPILLAR INC	COM	149123101	8,636	37,200	SH		SOLE		0	37,200	0
CENOVUS ENERGY INC	COM	15135U109	27,317	2,893,800	SH		SOLE		0	2,893,800	0
CF INDS HLDGS INC	COM	125269100	699	15,400	SH		SOLE		0	15,400	0
CHEVRON CORP NEW	COM	166764100	10,858	103,600	SH		SOLE		0	103,600	0
CHIPOTLE MEXICAN GRILL INC	COM	169656105	568	400	SH		SOLE		0	400	0
CI FINL CORP	COM	125491100	21,484	1,183,700	SH		SOLE		0	1,183,700	0
CIGNA CORP NEW	COM	125523100	1,112	4,600	SH		SOLE		0	4,600	0
CISCO SYS INC	COM	17275R102	16,068	310,800	SH		SOLE		0	310,800	0
CITIGROUP INC	COM NEW	172967424	11,882	163,300	SH		SOLE		0	163,300	0
CMS ENERGY CORP	COM	125896100	4,750	77,600	SH		SOLE		0	77,600	0
COCA COLA CO	COM	191216100	19,591	371,600	SH		SOLE		0	371,600	0
COGNIZANT TECHNOLOGY SOLUTIO	CL A	192446102	414	5,300	SH		SOLE		0	5,300	0
COLLIERS INTL GROUP INC	SUB VTG SHS	194693107	6,570	53,300	SH		SOLE		0	53,300	0
COMCAST CORP NEW	CL A	20030N101	15,045	278,000	SH		SOLE		0	278,000	0
CONAGRA BRANDS INC	COM	205887102	3,414	90,800	SH		SOLE		0	90,800	0
CONOCOPHILLIPS	COM	20825C104	7,286	137,500	SH		SOLE		0	137,500	0
CONSTELLATION BRANDS INC	CL A	21036P108	638	2,800	SH		SOLE		0	2,800	0
CORNING INC	COM	219350105	483	11,100	SH		SOLE		0	11,100	0
COSTCO WHSL CORP NEW	COM	22160K105	5,252	14,900	SH		SOLE		0	14,900	0
CROWN CASTLE INTL CORP NEW	COM	22822V101	2,701	15,700	SH		SOLE		0	15,700	0
CVS HEALTH CORP	COM	126650100	10,590	140,800	SH		SOLE		0	140,800	0
DEXCOM INC	COM	252131107	863	2,400	SH		SOLE		0	2,400	0
DIGITAL RLTY TR INC	COM	253868103	6,056	43,000	SH		SOLE		0	43,000	0
DISNEY WALT CO	COM	254687106	1,845	10,000	SH		SOLE		0	10,000	0
DOCEBO INC	COM	25609L105	10,092	186,890	SH		SOLE		0	186,890	0
DOLLAR GEN CORP NEW	COM	256677105	1,053	5,200	SH		SOLE		0	5,200	0
DOMINION ENERGY INC	COM	25746U109	7,778	102,400	SH		SOLE		0	102,400	0
DOW INC	COM	260557103	6,555	102,500	SH		SOLE		0	102,500	0
DUKE ENERGY CORP NEW	COM NEW	26441C204	4,486	46,500	SH		SOLE		0	46,500	0
DUPONT DE NEMOURS INC	COM	26614N102	840	10,866	SH		SOLE		0	10,866	0
ELDORADO GOLD CORP NEW	COM	284902509	1,981	146,500	SH		SOLE		0	146,500	0
EMERSON ELEC CO	COM	291011104	7,317	81,100	SH		SOLE		0	81,100	0
ENBRIDGE INC	COM	29250N105	166,820	3,650,318	SH		SOLE		0	3,650,318	0
ENERPLUS CORP	COM	292766102	35,299	5,638,750	SH		SOLE		0	5,638,750	0
EXELON CORP	COM	30161N101	6,773	154,800	SH		SOLE		0	154,800	0
EXXON MOBIL CORP	COM	30231G102	4,104	73,500	SH		SOLE		0	73,500	0
F5 NETWORKS INC	COM	315616102	647	3,100	SH		SOLE		0	3,100	0
FACEBOOK INC	CL A	30303M102	4,006	13,600	SH		SOLE		0	13,600	0
FEDEX CORP	COM	31428X106	1,278	4,500	SH		SOLE		0	4,500	0
FISERV INC	COM	337738108	1,023	8,600	SH		SOLE		0	8,600	0
FORTIS INC	COM	349553107	15,798	290,300	SH		SOLE		0	290,300	0
FRANCO NEV CORP	COM	351858105	20,748	131,990	SH		SOLE		0	131,990	0
GILEAD SCIENCES INC	COM	375558103	5,544	85,800	SH		SOLE		0	85,800	0
GRANITE REAL ESTATE INVT TR	UNIT 99/99/9999	387437114	24,685	323,100	SH		SOLE		0	323,100	0
HARTFORD FINL SVCS GROUP INC	COM	416515104	367	5,500	SH		SOLE		0	5,500	0
HEALTHPEAK PROPERTIES INC	COM	42250P103	2,321	73,100	SH		SOLE		0	73,100	0
HEWLETT PACKARD ENTERPRISE C	COM	42824C109	3,523	223,800	SH		SOLE		0	223,800	0
HEXO CORP	COM NEW	428304307	2,643	325,500	SH		SOLE		0	325,500	0
HOME DEPOT INC	COM	437076102	17,354	56,800	SH		SOLE		0	56,800	0
HP INC	COM	40434L105	3,864	121,700	SH		SOLE		0	121,700	0
HUDBAY MINERALS INC	COM	443628102	1,875	218,000	SH		SOLE		0	218,000	0
IMPERIAL OIL LTD	COM NEW	453038408	16,344	538,000	SH		SOLE		0	538,000	0
INTEL CORP	COM	458140100	10,406	162,600	SH		SOLE		0	162,600	0
INTERCONTINENTAL EXCHANGE IN	COM	45866F104	1,050	9,400	SH		SOLE		0	9,400	0
INTERNATIONAL BUSINESS MACHS	COM	459200101	11,621	87,200	SH		SOLE		0	87,200	0
INTERNATIONAL FLAVORS&FRAGRA	COM	459506101	2,960	21,200	SH		SOLE		0	21,200	0
INTERNATIONAL PAPER CO	COM	460146103	4,693	86,800	SH		SOLE		0	86,800	0
INVITATION HOMES INC	COM	46187W107	3,765	117,700	SH		SOLE		0	117,700	0
JACOBS ENGR GROUP INC	COM	469814107	1,163	9,000	SH		SOLE		0	9,000	0
JOHNSON & JOHNSON	COM	478160104	12,893	78,500	SH		SOLE		0	78,500	0
JOHNSON CTLS INTL PLC	SHS	G51502105	4,004	67,100	SH		SOLE		0	67,100	0
JPMORGAN CHASE & CO	COM	46625H100	11,440	75,100	SH		SOLE		0	75,100	0
KIMBERLY-CLARK CORP	COM	494368103	5,340	38,400	SH		SOLE		0	38,400	0
KINROSS GOLD CORP	COM	496902404	28,202	3,373,500	SH		SOLE		0	3,373,500	0
KKR & CO INC	COM	48251W104	660	13,500	SH		SOLE		0	13,500	0
KRAFT HEINZ CO	COM	500754106	4,388	109,700	SH		SOLE		0	109,700	0
LEGGETT & PLATT INC	COM	524660107	630	13,800	SH		SOLE		0	13,800	0
LIGHTSPEED POS INC	SUB VTG SHS	53227R106	22,403	284,010	SH		SOLE		0	284,010	0
LINCOLN NATL CORP IND	COM	534187109	996	16,000	SH		SOLE		0	16,000	0
LOCKHEED MARTIN CORP	COM	539830109	8,682	23,500	SH		SOLE		0	23,500	0
LOWES COS INC	COM	548661107	1,331	7,000	SH		SOLE		0	7,000	0
MAG SILVER CORP	COM	55903Q104	5,821	310,800	SH		SOLE		0	310,800	0
MAGNA INTL INC	COM	559222401	31,176	282,520	SH		SOLE		0	282,520	0
MANULIFE FINL CORP	COM	56501R106	93,650	3,467,225	SH		SOLE		0	3,467,225	0
MARATHON PETE CORP	COM	56585A102	4,268	79,800	SH		SOLE		0	79,800	0
MASCO CORP	COM	574599106	797	13,300	SH		SOLE		0	13,300	0
MASTERCARD INCORPORATED	CL A	57636Q104	1,871	5,250	SH		SOLE		0	5,250	0
MCDONALDS CORP	COM	580135101	13,514	60,300	SH		SOLE		0	60,300	0
MEDICENNA THERAPEUTICS CORP	COM	58490H107	1,955	385,600	SH		SOLE		0	385,600	0
MEDTRONIC PLC	SHS	G5960L103	7,397	62,600	SH		SOLE		0	62,600	0
MERCK & CO. INC	COM	58933Y105	18,232	236,500	SH		SOLE		0	236,500	0
METHANEX CORP	COM	59151K108	2,819	61,000	SH		SOLE		0	61,000	0
MICROCHIP TECHNOLOGY INC.	COM	595017104	916	5,900	SH		SOLE		0	5,900	0
MICRON TECHNOLOGY INC	COM	595112103	1,226	13,900	SH		SOLE		0	13,900	0
MICROSOFT CORP	COM	594918104	9,513	40,350	SH		SOLE		0	40,350	0
MONDELEZ INTL INC	CL A	609207105	9,202	157,200	SH		SOLE		0	157,200	0
MONSTER BEVERAGE CORP NEW	COM	61174X109	656	7,200	SH		SOLE		0	7,200	0
MOODYS CORP	COM	615369105	328	1,100	SH		SOLE		0	1,100	0
MORGAN STANLEY	COM NEW	617446448	1,025	13,200	SH		SOLE		0	13,200	0
NETFLIX INC	COM	64110L106	1,043	2,000	SH		SOLE		0	2,000	0
NEW GOLD INC CDA	COM	644535106	4,567	2,353,900	SH		SOLE		0	2,353,900	0
NEW YORK CMNTY BANCORP INC	COM	649445103	4,252	337,200	SH		SOLE		0	337,200	0
NEWMONT CORP	COM	651639106	5,262	87,300	SH		SOLE		0	87,300	0
NEXGEN ENERGY LTD	COM	65340P106	3,279	727,000	SH		SOLE		0	727,000	0
NEXTERA ENERGY INC	COM	65339F101	11,266	149,000	SH		SOLE		0	149,000	0
NIKE INC	CL B	654106103	399	3,000	SH		SOLE		0	3,000	0
NORTH AMERN CONSTR GROUP LTD	COM	656811106	3,074	227,867	SH		SOLE		0	227,867	0
NORTHROP GRUMMAN CORP	COM	666807102	1,359	4,200	SH		SOLE		0	4,200	0
NORTONLIFELOCK INC	COM	668771108	3,937	185,200	SH		SOLE		0	185,200	0
NUTRIEN LTD	COM	67077M108	67,189	992,890	SH		SOLE		0	992,890	0
NVIDIA CORPORATION	COM	67066G104	1,949	3,650	SH		SOLE		0	3,650	0
OPEN TEXT CORP	COM	683715106	44,340	741,230	SH		SOLE		0	741,230	0
PAN AMERN SILVER CORP	COM	697900108	6,307	167,700	SH		SOLE		0	167,700	0
PARKER-HANNIFIN CORP	COM	701094104	915	2,900	SH		SOLE		0	2,900	0
PAYPAL HLDGS INC	COM	70450Y103	2,064	8,500	SH		SOLE		0	8,500	0
PEMBINA PIPELINE CORP	COM	706327103	62,636	1,732,663	SH		SOLE		0	1,732,663	0
PEPSICO INC	COM	713448108	9,532	67,400	SH		SOLE		0	67,400	0
PFIZER INC	COM	717081103	13,115	362,000	SH		SOLE		0	362,000	0
PHILIP MORRIS INTL INC	COM	718172109	16,613	187,100	SH		SOLE		0	187,100	0
PRIMO WATER CORPORATION	COM	74167P108	8,860	434,300	SH		SOLE		0	434,300	0
PROCTER AND GAMBLE CO	COM	742718109	19,203	141,700	SH		SOLE		0	141,700	0
PROLOGIS INC.	COM	74340W103	7,674	72,400	SH		SOLE		0	72,400	0
PUBLIC SVC ENTERPRISE GRP IN	COM	744573106	4,660	77,400	SH		SOLE		0	77,400	0
QUALCOMM INC	COM	747525103	10,833	81,700	SH		SOLE		0	81,700	0
RAYTHEON TECHNOLOGIES CORP	COM	75513E101	11,615	150,335	SH		SOLE		0	150,335	0
REALTY INCOME CORP	COM	756109104	6,064	95,500	SH		SOLE		0	95,500	0
RESTAURANT BRANDS INTL INC	COM	76131D103	25,052	307,391	SH		SOLE		0	307,391	0
RITCHIE BROS AUCTIONEERS	COM	767744105	3,352	45,600	SH		SOLE		0	45,600	0
ROGERS COMMUNICATIONS INC	CL B	775109200	53,351	920,630	SH		SOLE		0	920,630	0
ROYAL BK CDA	COM	780087102	110,736	955,853	SH		SOLE		0	955,853	0
S&P GLOBAL INC	COM	78409V104	388	1,100	SH		SOLE		0	1,100	0
SALESFORCE COM INC	COM	79466L302	1,230	5,800	SH		SOLE		0	5,800	0
SANDSTORM GOLD LTD	COM NEW	80013R206	5,664	667,100	SH		SOLE		0	667,100	0
SEALED AIR CORP NEW	COM	81211K100	357	7,800	SH		SOLE		0	7,800	0
SEMPRA ENERGY	COM	816851109	6,951	52,400	SH		SOLE		0	52,400	0
SERVICENOW INC	COM	81762P102	826	1,650	SH		SOLE		0	1,650	0
SHAW COMMUNICATIONS INC	CL B CONV	82028K200	91,486	2,800,300	SH		SOLE		0	2,800,300	0
SHOPIFY INC	CL A	82509L107	43,621	31,440	SH		SOLE		0	31,440	0
SIMON PPTY GROUP INC NEW	COM	828806109	4,983	43,800	SH		SOLE		0	43,800	0
SKECHERS U S A INC	CL A	830566105	709	17,000	SH		SOLE		0	17,000	0
SOUTHERN CO	COM	842587107	9,479	152,500	SH		SOLE		0	152,500	0
SPDR SER TR	GLB DOW ETF	78464A706	11,362	107,686	SH		SOLE		0	107,686	0
SPROTT INC	COM NEW	852066208	1,280	26,900	SH		SOLE		0	26,900	0
SSR MNG INC	COM	784730103	17,758	992,081	SH		SOLE		0	992,081	0
STANLEY BLACK & DECKER INC	COM	854502101	4,593	23,000	SH		SOLE		0	23,000	0
STANTEC INC	COM	85472N109	1,936	36,100	SH		SOLE		0	36,100	0
SUN LIFE FINANCIAL INC.	COM	866796105	9,163	144,300	SH		SOLE		0	144,300	0
SUNCOR ENERGY INC NEW	COM	867224107	112,516	4,286,316	SH		SOLE		0	4,286,316	0
SYNCHRONY FINANCIAL	COM	87165B103	3,594	88,400	SH		SOLE		0	88,400	0
SYNOPSYS INC	COM	871607107	818	3,300	SH		SOLE		0	3,300	0
T-MOBILE US INC	COM	872590104	1,015	8,100	SH		SOLE		0	8,100	0
TARGET CORP	COM	87612E106	2,832	14,300	SH		SOLE		0	14,300	0
TC ENERGY CORP	COM	87807B107	67,635	1,177,280	SH		SOLE		0	1,177,280	0
TECK RESOURCES LTD	CL B	878742204	16,968	706,700	SH		SOLE		0	706,700	0
TELUS CORPORATION	COM	87971M103	91,486	3,656,522	SH		SOLE		0	3,656,522	0
TELUS INTL CDA INC	SUB VTG SHS	87975H100	9,364	271,490	SH		SOLE		0	248,690	0
TESLA INC	COM	88160R101	3,340	5,000	SH		SOLE		0	5,000	0
TEXAS INSTRS INC	COM	882508104	7,330	38,800	SH		SOLE		0	38,800	0
TFI INTL INC	COM	87241L109	38,937	415,900	SH		SOLE		0	415,900	0
THERMO FISHER SCIENTIFIC INC	COM	883556102	1,736	3,800	SH		SOLE		0	3,800	0
THOMSON REUTERS CORP.	COM NEW	884903709	53,858	490,155	SH		SOLE		0	490,155	0
TJX COS INC NEW	COM	872540109	714	10,800	SH		SOLE		0	10,800	0
TORONTO DOMINION BK ONT	COM NEW	891160509	181,795	2,218,901	SH		SOLE		0	2,218,901	0
TRANSALTA CORP	COM	89346D107	36,959	3,121,570	SH		SOLE		0	3,121,570	0
TRUIST FINL CORP	COM	89832Q109	9,891	169,600	SH		SOLE		0	169,600	0
TWITTER INC	COM	90184L102	286	4,500	SH		SOLE		0	4,500	0
TYSON FOODS INC	CL A	902494103	5,276	71,000	SH		SOLE		0	71,000	0
UNION PAC CORP	COM	907818108	6,767	30,700	SH		SOLE		0	30,700	0
UNITED PARCEL SERVICE INC	CL B	911312106	10,454	61,500	SH		SOLE		0	61,500	0
UNITEDHEALTH GROUP INC	COM	91324P102	1,863	5,000	SH		SOLE		0	5,000	0
US BANCORP DEL	COM NEW	902973304	5,348	96,700	SH		SOLE		0	96,700	0
V F CORP	COM	918204108	4,663	58,300	SH		SOLE		0	58,300	0
VERIZON COMMUNICATIONS INC	COM	92343V104	12,591	216,600	SH		SOLE		0	216,600	0
VERTEX PHARMACEUTICALS INC	COM	92532F100	1,074	5,000	SH		SOLE		0	5,000	0
VIATRIS INC	COM	92556V106	629	45,009	SH		SOLE		0	45,009	0
VILLAGE FARMS INTL INC	COM	92707Y108	3,447	207,800	SH		SOLE		0	207,800	0
VISA INC	COM CL A	92826C839	1,560	7,350	SH		SOLE		0	7,350	0
WALMART INC	COM	931142103	4,795	35,300	SH		SOLE		0	35,300	0
WASTE CONNECTIONS INC	COM	94106B101	2,188	16,167	SH		SOLE		0	16,167	0
WASTE MGMT INC DEL	COM	94106L109	955	7,400	SH		SOLE		0	7,400	0
WELLS FARGO CO NEW	COM	949746101	4,372	111,900	SH		SOLE		0	111,900	0
WEST FRASER TIMBER CO LTD	COM	952845105	8,848	98,309	SH		SOLE		0	98,309	0
WESTERN DIGITAL CORP.	COM	958102105	200	3,000	SH		SOLE		0	3,000	0
WHEATON PRECIOUS METALS CORP	COM	962879102	15,833	330,070	SH		SOLE		0	330,070	0
WILLIAMS COS INC	COM	969457100	4,521	190,900	SH		SOLE		0	190,900	0
WILLIS TOWERS WATSON PLC LTD	SHS	G96629103	938	4,100	SH		SOLE		0	4,100	0
WYNDHAM HOTELS & RESORTS INC	COM	98311A105	586	8,400	SH		SOLE		0	8,400	0