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
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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	5,474	31,200	SH		SOLE		0	31,200	0
ABBOTT LABS	COM	002824100	1,724	14,600	SH		SOLE		0	14,600	0
ABBVIE INC	COM	00287Y109	17,510	162,400	SH		SOLE		0	162,400	0
ACCENTURE PLC IRELAND	SHS CLASS A	G1151C101	224	700	SH		SOLE		0	700	0
ACTIVISION BLIZZARD INC	COM	00507V109	402	5,200	SH		SOLE		0	5,200	0
ADOBE SYSTEMS INCORPORATED	COM	00724F101	1,208	2,100	SH		SOLE		0	2,100	0
ADVANCE AUTO PARTS INC	COM	00751Y106	752	3,600	SH		SOLE		0	3,600	0
ADVANCED MICRO DEVICES INC	COM	007903107	401	3,901	SH		SOLE		0	3,901	0
AES CORP	COM	00130H105	3,854	168,900	SH		SOLE		0	168,900	0
AGNICO EAGLE MINES LTD	COM	008474108	4,871	74,190	SH		SOLE		0	74,190	0
AIR PRODS & CHEMS INC	COM	009158106	7,839	30,600	SH		SOLE		0	30,600	0
ALASKA AIR GROUP INC	COM	011659109	375	6,400	SH		SOLE		0	6,400	0
ALEXANDRIA REAL ESTATE EQ IN	COM	015271109	4,109	21,500	SH		SOLE		0	21,500	0
ALGONQUIN PWR UTILS CORP	COM	015857105	30,333	1,633,419	SH		SOLE		0	1,633,419	0
ALLSTATE CORP	COM	020002101	725	5,700	SH		SOLE		0	5,700	0
ALPHABET INC	CAP STK CL C	02079K107	1,198	450	SH		SOLE		0	450	0
ALPHABET INC	CAP STK CL A	02079K305	6,945	2,600	SH		SOLE		0	2,600	0
ALTRIA GROUP INC	COM	02209S103	16,559	363,700	SH		SOLE		0	363,700	0
AMAZON COM INC	COM	023135106	7,718	2,350	SH		SOLE		0	2,350	0
AMERICAN TOWER CORP NEW	COM	03027X100	4,219	15,900	SH		SOLE		0	15,900	0
AMERISOURCEBERGEN CORP	COM	03073E105	621	5,200	SH		SOLE		0	5,200	0
AMGEN INC	COM	031162100	7,057	33,200	SH		SOLE		0	33,200	0
ANALOG DEVICES INC	COM	032654105	6,665	39,800	SH		SOLE		0	39,800	0
APPLE INC	COM	037833100	11,178	79,100	SH		SOLE		0	79,100	0
APPLIED MATLS INC	COM	038222105	1,364	10,600	SH		SOLE		0	10,600	0
ARCHER DANIELS MIDLAND CO	COM	039483102	1,308	21,800	SH		SOLE		0	21,800	0
AT&T INC	COM	00206R102	14,502	536,900	SH		SOLE		0	536,900	0
AUTOMATIC DATA PROCESSING IN	COM	053015103	3,057	15,300	SH		SOLE		0	15,300	0
AVALONBAY CMNTYS INC	COM	053484101	2,659	12,000	SH		SOLE		0	12,000	0
B2GOLD CORP	COM	11777Q209	7,337	1,698,300	SH		SOLE		0	1,698,300	0
BANK MONTREAL QUE	COM	063671101	153,177	1,212,323	SH		SOLE		0	1,212,323	0
BANK NOVA SCOTIA B C	COM	064149107	74,568	956,860	SH		SOLE		0	956,860	0
BARRICK GOLD CORP	COM	067901108	10,189	445,700	SH		SOLE		0	445,700	0
BAUSCH HEALTH COS INC	COM	071734107	4,424	126,100	SH		SOLE		0	126,100	0
BCE INC	COM NEW	05534B760	66,935	1,055,760	SH		SOLE		0	1,055,760	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	2,046	7,500	SH		SOLE		0	7,500	0
BK OF AMERICA CORP	COM	060505104	9,356	220,500	SH		SOLE		0	220,500	0
BLACKROCK INC	COM	09247X101	8,466	10,100	SH		SOLE		0	10,100	0
BOSTON SCIENTIFIC CORP	COM	101137107	1,093	25,200	SH		SOLE		0	25,200	0
BRISTOL-MYERS SQUIBB CO	COM	110122108	14,320	242,100	SH		SOLE		0	242,100	0
BROADCOM INC	COM	11135F101	14,257	29,400	SH		SOLE		0	29,400	0
BROOKFIELD ASSET MGMT INC	CL A LTD VT SH	112585104	68,858	1,016,350	SH		SOLE		0	1,016,350	0
BROOKFIELD BUSINESS PARTNERS	UNIT LTD L P	G16234109	13,528	234,700	SH		SOLE		0	234,700	0
BROOKFIELD INFRAST PARTNERS	LP INT UNIT	G16252101	22,033	310,711	SH		SOLE		0	310,711	0
BROOKFIELD INFRASTRUCTURE CO	COM SB VTG SHS A	11275Q107	1,187	15,700	SH		SOLE		0	15,700	0
BROOKFIELD RENEWABLE CORP	CL A SUB VTG	11284V105	6,091	124,300	SH		SOLE		0	124,300	0
BRP INC	COM SUN VTG	05577W200	25,770	220,316	SH		SOLE		0	220,316	0
CAMECO CORP	COM	13321L108	5,311	194,050	SH		SOLE		0	194,050	0
CANADIAN IMP BK COMM	COM	136069101	85,747	608,220	SH		SOLE		0	608,220	0
CANADIAN NAT RES LTD	COM	136385101	92,271	1,993,750	SH		SOLE		0	1,993,750	0
CANADIAN NATL RY CO	COM	136375102	52,841	360,813	SH		SOLE		0	360,813	0
CANADIAN PAC RY LTD	COM	13645T100	87,435	1,061,110	SH		SOLE		0	1,061,110	0
CASELLA WASTE SYS INC	CL A	147448104	311	4,100	SH		SOLE		0	4,100	0
CATERPILLAR INC	COM	149123101	3,185	16,600	SH		SOLE		0	16,600	0
CENOVUS ENERGY INC	COM	15135U109	60,744	4,764,227	SH		SOLE		0	4,764,227	0
CF INDS HLDGS INC	COM	125269100	859	15,400	SH		SOLE		0	15,400	0
CHEVRON CORP NEW	COM	166764100	12,438	122,600	SH		SOLE		0	122,600	0
CHIPOTLE MEXICAN GRILL INC	COM	169656105	727	400	SH		SOLE		0	400	0
CHUBB LIMITED	COM	H1467J104	902	5,200	SH		SOLE		0	5,200	0
CI FINL CORP	COM	125491100	75,943	2,959,580	SH		SOLE		0	2,959,580	0
CIGNA CORP NEW	COM	125523100	961	4,800	SH		SOLE		0	4,800	0
CISCO SYS INC	COM	17275R102	13,173	242,100	SH		SOLE		0	242,100	0
CITIGROUP INC	COM NEW	172967424	12,334	175,800	SH		SOLE		0	175,800	0
CITIZENS FINL GROUP INC	COM	174610105	3,458	73,600	SH		SOLE		0	73,600	0
COCA COLA CO	COM	191216100	19,501	371,800	SH		SOLE		0	371,800	0
COGNIZANT TECHNOLOGY SOLUTIO	CL A	192446102	787	10,600	SH		SOLE		0	10,600	0
COLGATE PALMOLIVE CO	COM	194162103	5,200	68,800	SH		SOLE		0	68,800	0
COLLIERS INTL GROUP INC	SUB VTG SHS	194693107	20,639	127,520	SH		SOLE		0	127,520	0
COMCAST CORP NEW	CL A	20030N101	15,540	277,900	SH		SOLE		0	277,900	0
CONAGRA BRANDS INC	COM	205887102	3,076	90,800	SH		SOLE		0	90,800	0
CONOCOPHILLIPS	COM	20825C104	5,828	86,000	SH		SOLE		0	86,000	0
CONSTELLATION BRANDS INC	CL A	21036P108	1,138	5,400	SH		SOLE		0	5,400	0
CORNING INC	COM	219350105	5,308	145,500	SH		SOLE		0	145,500	0
CROWN CASTLE INTL CORP NEW	COM	22822V101	11,245	64,900	SH		SOLE		0	64,900	0
CUMMINS INC	COM	231021106	3,887	17,300	SH		SOLE		0	17,300	0
CVS HEALTH CORP	COM	126650100	12,189	143,700	SH		SOLE		0	143,700	0
DELTA AIR LINES INC DEL	COM NEW	247361702	324	7,600	SH		SOLE		0	7,600	0
DEXCOM INC	COM	252131107	983	1,800	SH		SOLE		0	1,800	0
DIGITAL RLTY TR INC	COM	253868103	6,078	42,100	SH		SOLE		0	42,100	0
DISNEY WALT CO	COM	254687106	1,285	7,600	SH		SOLE		0	7,600	0
DOCEBO INC	COM	25609L105	3,874	42,100	SH		SOLE		0	42,100	0
DOLLAR TREE INC	COM	256746108	918	9,600	SH		SOLE		0	9,600	0
DOMINION ENERGY INC	COM	25746U109	7,474	102,400	SH		SOLE		0	102,400	0
DOW INC	COM	260557103	5,726	99,500	SH		SOLE		0	99,500	0
DUKE ENERGY CORP NEW	COM NEW	26441C204	5,844	59,900	SH		SOLE		0	59,900	0
DUKE REALTY CORP	COM NEW	264411505	3,709	77,500	SH		SOLE		0	77,500	0
DUPONT DE NEMOURS INC	COM	26614N102	739	10,866	SH		SOLE		0	10,866	0
EMERSON ELEC CO	COM	291011104	7,505	79,700	SH		SOLE		0	79,700	0
ENBRIDGE INC	COM	29250N105	198,065	3,925,198	SH		SOLE		0	3,925,198	0
ENERPLUS CORP	COM	292766102	44,488	4,387,350	SH		SOLE		0	4,387,350	0
EOG RES INC	COM	26875P101	4,614	57,500	SH		SOLE		0	57,500	0
EQUINIX INC	COM	29444U700	1,105	1,400	SH		SOLE		0	1,400	0
EXELON CORP	COM	30161N101	7,278	150,600	SH		SOLE		0	150,600	0
EXXON MOBIL CORP	COM	30231G102	3,323	56,500	SH		SOLE		0	56,500	0
F5 NETWORKS INC	COM	315616102	338	1,700	SH		SOLE		0	1,700	0
FACEBOOK INC	CL A	30303M102	4,003	11,800	SH		SOLE		0	11,800	0
FEDEX CORP	COM	31428X106	965	4,400	SH		SOLE		0	4,400	0
FISERV INC	COM	337738108	787	7,250	SH		SOLE		0	7,250	0
FORTIS INC	COM	349553107	14,076	251,000	SH		SOLE		0	251,000	0
FRANCO NEV CORP	COM	351858105	25,898	157,840	SH		SOLE		0	157,840	0
GFL ENVIRONMENTAL INC	SUB VTG SHS	36168Q104	17,464	372,770	SH		SOLE		0	372,770	0
GILEAD SCIENCES INC	COM	375558103	5,991	85,800	SH		SOLE		0	85,800	0
GLOBAL PMTS INC	COM	37940X102	615	3,900	SH		SOLE		0	3,900	0
GRANITE REAL ESTATE INVT TR	UNIT 99/99/9999	387437114	46,027	512,270	SH		SOLE		0	512,270	0
HEALTHPEAK PROPERTIES INC	COM	42250P103	3,973	118,700	SH		SOLE		0	118,700	0
HEWLETT PACKARD ENTERPRISE C	COM	42824C109	3,191	223,800	SH		SOLE		0	223,800	0
HEXO CORP	COM NEW	428304307	1,124	484,500	SH		SOLE		0	484,500	0
HOME DEPOT INC	COM	437076102	14,542	44,300	SH		SOLE		0	44,300	0
HP INC	COM	40434L105	2,702	98,800	SH		SOLE		0	98,800	0
IMPERIAL OIL LTD	COM NEW	453038408	18,137	454,000	SH		SOLE		0	454,000	0
INTEL CORP	COM	458140100	9,834	184,600	SH		SOLE		0	184,600	0
INTERCONTINENTAL EXCHANGE IN	COM	45866F104	1,435	12,500	SH		SOLE		0	12,500	0
INTERNATIONAL BUSINESS MACHS	COM	459200101	16,221	116,800	SH		SOLE		0	116,800	0
INTERNATIONAL PAPER CO	COM	460146103	4,853	86,800	SH		SOLE		0	86,800	0
INVITATION HOMES INC	COM	46187W107	5,959	155,500	SH		SOLE		0	155,500	0
JACOBS ENGR GROUP INC	COM	469814107	875	6,600	SH		SOLE		0	6,600	0
JOHNSON & JOHNSON	COM	478160104	12,672	78,500	SH		SOLE		0	78,500	0
JOHNSON CTLS INTL PLC	SHS	G51502105	4,540	66,700	SH		SOLE		0	66,700	0
JPMORGAN CHASE & CO	COM	46625H100	12,083	73,800	SH		SOLE		0	73,800	0
KINROSS GOLD CORP	COM	496902404	29,688	4,378,688	SH		SOLE		0	4,378,688	0
KIRKLAND LAKE GOLD LTD	COM	49741E100	29,765	565,230	SH		SOLE		0	565,230	0
KKR & CO INC	COM	48251W104	670	11,000	SH		SOLE		0	11,000	0
KRAFT HEINZ CO	COM	500754106	4,039	109,700	SH		SOLE		0	109,700	0
LAMB WESTON HLDGS INC	COM	513272104	2,381	38,800	SH		SOLE		0	38,800	0
LEGGETT & PLATT INC	COM	524660107	1,336	29,800	SH		SOLE		0	29,800	0
LINCOLN NATL CORP IND	COM	534187109	900	13,100	SH		SOLE		0	13,100	0
LOCKHEED MARTIN CORP	COM	539830109	8,795	25,500	SH		SOLE		0	25,500	0
LOWES COS INC	COM	548661107	6,467	31,900	SH		SOLE		0	31,900	0
LYONDELLBASELL INDUSTRIES N	SHS - A -	N53745100	3,593	38,300	SH		SOLE		0	38,300	0
MAG SILVER CORP	COM	55903Q104	6,160	301,500	SH		SOLE		0	301,500	0
MAGNA INTL INC	COM	559222401	29,799	312,853	SH		SOLE		0	312,853	0
MANULIFE FINL CORP	COM	56501R106	131,519	5,398,965	SH		SOLE		0	5,398,965	0
MASCO CORP	COM	574599106	544	9,800	SH		SOLE		0	9,800	0
MASTEC INC	COM	576323109	345	4,000	SH		SOLE		0	4,000	0
MASTERCARD INCORPORATED	CL A	57636Q104	2,502	7,200	SH		SOLE		0	7,200	0
MCDONALDS CORP	COM	580135101	13,019	54,000	SH		SOLE		0	54,000	0
MEDICENNA THERAPEUTICS CORP	COM	58490H107	1,292	385,600	SH		SOLE		0	385,600	0
MEDTRONIC PLC	SHS	G5960L103	7,921	63,200	SH		SOLE		0	63,200	0
MERCK & CO INC	COM	58933Y105	18,625	248,000	SH		SOLE		0	248,000	0
MICROCHIP TECHNOLOGY INC.	COM	595017104	828	5,400	SH		SOLE		0	5,400	0
MICRON TECHNOLOGY INC	COM	595112103	440	6,200	SH		SOLE		0	6,200	0
MICROSOFT CORP	COM	594918104	10,873	38,600	SH		SOLE		0	38,600	0
MONDELEZ INTL INC	CL A	609207105	9,919	170,600	SH		SOLE		0	170,600	0
MORGAN STANLEY	COM NEW	617446448	1,508	15,500	SH		SOLE		0	15,500	0
NETFLIX INC	COM	64110L106	1,922	3,150	SH		SOLE		0	3,150	0
NEW GOLD INC CDA	COM	644535106	5,609	4,185,700	SH		SOLE		0	4,185,700	0
NEW YORK CMNTY BANCORP INC	COM	649445103	5,988	465,300	SH		SOLE		0	465,300	0
NEWMONT CORP	COM	651639106	4,740	87,300	SH		SOLE		0	87,300	0
NEXGEN ENERGY LTD	COM	65340P106	5,052	847,700	SH		SOLE		0	847,700	0
NEXTERA ENERGY INC	COM	65339F101	13,267	169,000	SH		SOLE		0	169,000	0
NIELSEN HLDGS PLC	SHS EUR	G6518L108	293	15,300	SH		SOLE		0	15,300	0
NORTH AMERN CONSTR GROUP LTD	COM	656811106	5,070	276,167	SH		SOLE		0	276,167	0
NORTHROP GRUMMAN CORP	COM	666807102	1,188	3,300	SH		SOLE		0	3,300	0
NORTONLIFELOCK INC	COM	668771108	4,028	159,200	SH		SOLE		0	159,200	0
NUTRIEN LTD	COM	67077M108	54,488	664,320	SH		SOLE		0	664,320	0
NVIDIA CORPORATION	COM	67066G104	2,629	12,700	SH		SOLE		0	12,700	0
OPEN TEXT CORP	COM	683715106	59,501	964,670	SH		SOLE		0	964,670	0
ORGANON & CO	COMMON STOCK	68622V106	703	21,450	SH		SOLE		0	21,450	0
OSISKO GOLD ROYALTIES LTD	COM	68827L101	2,211	155,400	SH		SOLE		0	155,400	0
PARKER-HANNIFIN CORP	COM	701094104	895	3,200	SH		SOLE		0	3,200	0
PAYPAL HLDGS INC	COM	70450Y103	1,847	7,100	SH		SOLE		0	7,100	0
PEMBINA PIPELINE CORP	COM	706327103	50,941	1,268,763	SH		SOLE		0	1,268,763	0
PEPSICO INC	COM	713448108	10,136	67,400	SH		SOLE		0	67,400	0
PFIZER INC	COM	717081103	13,640	317,200	SH		SOLE		0	317,200	0
PHILIP MORRIS INTL INC	COM	718172109	10,484	110,600	SH		SOLE		0	110,600	0
PRETIUM RES INC	COM	74139C102	2,526	207,600	SH		SOLE		0	207,600	0
PRIMO WATER CORPORATION	COM	74167P108	6,275	325,300	SH		SOLE		0	325,300	0
PROCTER AND GAMBLE CO	COM	742718109	19,805	141,700	SH		SOLE		0	141,700	0
PROLOGIS INC.	COM	74340W103	4,401	35,100	SH		SOLE		0	35,100	0
PUBLIC SVC ENTERPRISE GRP IN	COM	744573106	4,712	77,400	SH		SOLE		0	77,400	0
QUALCOMM INC	COM	747525103	10,925	84,700	SH		SOLE		0	84,700	0
RAYTHEON TECHNOLOGIES CORP	COM	75513E101	12,685	147,635	SH		SOLE		0	147,635	0
REALTY INCOME CORP	COM	756109104	6,175	95,200	SH		SOLE		0	95,200	0
RESTAURANT BRANDS INTL INC	COM	76131D103	28,414	366,591	SH		SOLE		0	366,591	0
RITCHIE BROS AUCTIONEERS	COM	767744105	2,057	26,377	SH		SOLE		0	26,377	0
ROGERS COMMUNICATIONS INC	CL B	775109200	51,969	879,340	SH		SOLE		0	879,340	0
ROYAL BK CDA	COM	780087102	103,439	820,748	SH		SOLE		0	820,748	0
SALESFORCE COM INC	COM	79466L302	1,925	7,100	SH		SOLE		0	7,100	0
SANDSTORM GOLD LTD	COM NEW	80013R206	4,856	667,100	SH		SOLE		0	667,100	0
SEALED AIR CORP NEW	COM	81211K100	427	7,800	SH		SOLE		0	7,800	0
SEMPRA	COM	816851109	7,830	61,900	SH		SOLE		0	61,900	0
SERVICENOW INC	COM	81762P102	1,026	1,650	SH		SOLE		0	1,650	0
SHAW COMMUNICATIONS INC	CL B CONV	82028K200	51,324	1,395,800	SH		SOLE		0	1,395,800	0
SHOPIFY INC	CL A	82509L107	73,366	42,880	SH		SOLE		0	42,880	0
SIGNATURE BK NEW YORK N Y	COM	82669G104	2,750	10,100	SH		SOLE		0	10,100	0
SIMON PPTY GROUP INC NEW	COM	828806109	5,691	43,800	SH		SOLE		0	43,800	0
SKECHERS U S A INC	CL A	830566105	750	17,800	SH		SOLE		0	17,800	0
SOUTHERN CO	COM	842587107	9,449	152,500	SH		SOLE		0	152,500	0
SPDR SER TR	GLB DOW ETF	78464A706	12,017	110,286	SH		SOLE		0	110,286	0
SPROTT INC	COM NEW	852066208	1,246	26,900	SH		SOLE		0	26,900	0
SSR MNG INC	COM	784730103	21,141	1,150,861	SH		SOLE		0	1,150,861	0
STANLEY BLACK & DECKER INC	COM	854502101	4,102	23,400	SH		SOLE		0	23,400	0
STANTEC INC	COM	85472N109	1,303	22,000	SH		SOLE		0	22,000	0
STATE STR CORP	COM	857477103	6,115	72,200	SH		SOLE		0	72,200	0
SUN LIFE FINANCIAL INC.	COM	866796105	10,149	155,700	SH		SOLE		0	155,700	0
SUNCOR ENERGY INC NEW	COM	867224107	95,906	3,656,366	SH		SOLE		0	3,656,366	0
SYNCHRONY FINANCIAL	COM	87165B103	3,910	80,000	SH		SOLE		0	80,000	0
SYNOPSYS INC	COM	871607107	718	2,400	SH		SOLE		0	2,400	0
T-MOBILE US INC	COM	872590104	792	6,200	SH		SOLE		0	6,200	0
TC ENERGY CORP	COM	87807B107	69,184	1,136,960	SH		SOLE		0	1,136,960	0
TECK RESOURCES LTD	CL B	878742204	1,742	55,300	SH		SOLE		0	55,300	0
TELUS CORPORATION	COM	87971M103	118,417	4,253,492	SH		SOLE		0	4,253,492	0
TELUS INTL CDA INC	SUB VTG SHS	87975H100	18,401	417,930	SH		SOLE		0	407,930	0
TEMPUR SEALY INTL INC	COM	88023U101	743	16,000	SH		SOLE		0	16,000	0
TESLA INC	COM	88160R101	3,565	4,600	SH		SOLE		0	4,600	0
TEXAS INSTRS INC	COM	882508104	6,110	31,800	SH		SOLE		0	31,800	0
TFI INTL INC	COM	87241L109	48,997	379,500	SH		SOLE		0	379,500	0
THERMO FISHER SCIENTIFIC INC	COM	883556102	2,056	3,600	SH		SOLE		0	3,600	0
THOMSON REUTERS CORP.	COM NEW	884903709	32,541	232,920	SH		SOLE		0	232,920	0
TILRAY INC	COM CL 2	88688T100	2,802	195,920	SH		SOLE		0	195,920	0
TJX COS INC NEW	COM	872540109	712	10,800	SH		SOLE		0	10,800	0
TORONTO DOMINION BK ONT	COM NEW	891160509	185,776	2,217,691	SH		SOLE		0	2,217,691	0
TRANSALTA CORP	COM	89346D107	36,816	2,751,600	SH		SOLE		0	2,751,600	0
TRUIST FINL CORP	COM	89832Q109	9,612	164,000	SH		SOLE		0	164,000	0
TYSON FOODS INC	CL A	902494103	5,526	70,000	SH		SOLE		0	70,000	0
UNION PAC CORP	COM	907818108	6,841	34,900	SH		SOLE		0	34,900	0
UNITED PARCEL SERVICE INC	CL B	911312106	11,193	61,500	SH		SOLE		0	61,500	0
UNITED RENTALS INC	COM	911363109	596	1,700	SH		SOLE		0	1,700	0
UNITEDHEALTH GROUP INC	COM	91324P102	1,954	5,000	SH		SOLE		0	5,000	0
US BANCORP DEL	COM NEW	902973304	3,725	62,700	SH		SOLE		0	62,700	0
V F CORP	COM	918204108	6,612	98,700	SH		SOLE		0	98,700	0
VALERO ENERGY CORP	COM	91913Y100	5,725	81,200	SH		SOLE		0	81,200	0
VERIZON COMMUNICATIONS INC	COM	92343V104	12,193	225,800	SH		SOLE		0	225,800	0
VERTEX PHARMACEUTICALS INC	COM	92532F100	907	5,000	SH		SOLE		0	5,000	0
VIATRIS INC	COM	92556V106	610	45,009	SH		SOLE		0	45,009	0
VILLAGE FARMS INTL INC	COM	92707Y108	3,039	287,200	SH		SOLE		0	287,200	0
VISA INC	COM CL A	92826C839	1,113	5,000	SH		SOLE		0	5,000	0
WALMART INC	COM	931142103	6,938	49,800	SH		SOLE		0	49,800	0
WASTE CONNECTIONS INC	COM	94106B101	2,845	17,867	SH		SOLE		0	17,867	0
WASTE MGMT INC DEL	COM	94106L109	418	2,800	SH		SOLE		0	2,800	0
WELLS FARGO CO NEW	COM	949746101	1,211	26,100	SH		SOLE		0	26,100	0
WEST FRASER TIMBER CO LTD	COM	952845105	6,334	59,600	SH		SOLE		0	59,600	0
WHEATON PRECIOUS METALS CORP	COM	962879102	5,781	121,570	SH		SOLE		0	121,570	0
WILLIAMS COS INC	COM	969457100	4,950	190,900	SH		SOLE		0	190,900	0
WILLIS TOWERS WATSON PLC LTD	SHS	G96629103	1,023	4,400	SH		SOLE		0	4,400	0
WYNDHAM HOTELS & RESORTS INC	COM	98311A105	525	6,800	SH		SOLE		0	6,800	0
XILINX INC	COM	983919101	890	5,900	SH		SOLE		0	5,900	0
ZIMMER BIOMET HOLDINGS INC	COM	98956P102	1,142	7,800	SH		SOLE		0	7,800	0