Cumberland Partners 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
Abbott Laboratories	COM	002824100	12,510	136,824	SH		DFND	1	136,824	0	0
Abbott Laboratories	COM	002824100	4,269	46,690	SH		DFND	2	46,690	0	0
Accenture PLC Cl-A	SHS CLASS A	G1151C101	3,423	15,941	SH		DFND	1	15,941	0	0
Accenture PLC Cl-A	SHS CLASS A	G1151C101	8,347	38,874	SH		DFND	2	38,874	0	0
Adobe Systems Inc	COM	00724F101	37	85	SH		DFND	1	85	0	0
Adobe Systems Inc	COM	00724F101	435	1,000	SH		DFND	2	1,000	0	0
ALGONQUIN POWER&UTI	COM	015857105	1,160	90,050	SH		DFND	2	90,050	0	0
Alibaba Group ADR	SPONSORED ADS	01609W102	1,472	6,825	SH		DFND	1	6,825	0	0
Alibaba Group ADR	SPONSORED ADS	01609W102	7,497	34,758	SH		DFND	2	34,758	0	0
Alphabet Inc Cl A	CAP STK CL A	02079K305	1,975	1,393	SH		DFND	1	1,393	0	0
Alphabet Inc Cl A	CAP STK CL A	02079K305	6,960	4,908	SH		DFND	2	4,908	0	0
Alphabet Inc Cl-C	CAP STK CL A	02079K107	23,575	16,677	SH		DFND	1	16,677	0	0
Alphabet Inc Cl-C	CAP STK CL A	02079K107	4,043	2,860	SH		DFND	2	2,860	0	0
Amazon.com Inc	COM	023135106	2,877	1,043	SH		DFND	1	1,043	0	0
Amazon.com Inc	COM	023135106	2,179	790	SH		DFND	2	790	0	0
American Express Co	COM	025816109	169	1,775	SH		DFND	1	1,775	0	0
American Express Co	COM	025816109	187	1,970	SH		DFND	2	1,970	0	0
American Tower Corp	COM	03027X100	44	171	SH		DFND	1	171	0	0
American Tower Corp	COM	03027X100	1,021	3,950	SH		DFND	2	3,950	0	0
Amgen Inc	COM	031162100	35	149	SH		DFND	1	149	0	0
Amgen Inc	COM	031162100	1,332	5,650	SH		DFND	2	5,650	0	0
Anthem Inc.	COM	036752103	1,304	4,959	SH		DFND	1	4,959	0	0
Anthem Inc.	COM	036752103	947	3,600	SH		DFND	2	3,600	0	0
Apple Inc	COM	037833100	12,805	35,102	SH		DFND	1	35,102	0	0
Apple Inc	COM	037833100	1,037	2,844	SH		DFND	2	2,844	0	0
ASML HLDS NV NY	N Y REGISTRY SHS	N07059210	294	800	SH		DFND	2	800	0	0
AUTODESK INC	COM	052769106	718	3,000	SH		DFND	2	3,000	0	0
Automatc Data Proc	COM	053015103	1,426	9,575	SH		DFND	2	9,575	0	0
B2GOLD CORP	COM	11777Q209	741	130,700	SH		DFND	2	130,700	0	0
Bank of America	COM	060505104	6,185	260,400	SH		DFND	1	260,400	0	0
Bank of America	COM	060505104	50	2,110	SH		DFND	2	2,110	0	0
BANK OF MONTREAL	COM	063671101	870	16,400	SH		DFND	0	16,400	0	0
BANK OF MONTREAL	COM	063671101	1,072	20,211	SH		DFND	1	20,211	0	0
BANK OF NOVA SCOTIA	COM	064149107	656	15,900	SH		DFND	0	15,900	0	0
BANK OF NOVA SCOTIA	COM	064149107	21,363	517,847	SH		DFND	1	517,847	0	0
BANK OF NOVA SCOTIA	COM	064149107	3,663	88,795	SH		DFND	2	88,795	0	0
Barrick Gold Corporation	COM	067901108	14	531	SH		DFND	1	531	0	0
Barrick Gold Corporation	COM	067901108	1,092	40,700	SH		DFND	2	40,700	0	0
Baxter International Inc	COM	071813109	15,960	185,371	SH		DFND	1	185,371	0	0
Baxter International Inc	COM	071813109	2,913	33,834	SH		DFND	2	33,834	0	0
BCE Inc	COM NEW	05534B760	1,121	26,966	SH		DFND	1	26,966	0	0
BCE Inc	COM NEW	05534B760	3,669	88,250	SH		DFND	2	88,250	0	0
Becton Dickinson & Co	COM	075887109	19,168	80,112	SH		DFND	1	80,112	0	0
Becton Dickinson & Co	COM	075887109	3,837	16,035	SH		DFND	2	16,035	0	0
Berkshire Hathaway B New	CL B NEW	084670702	288	1,612	SH		DFND	1	1,612	0	0
Berkshire Hathaway B New	CL B NEW	084670702	6	35	SH		DFND	2	35	0	0
BLACK KNIGHT INC	COM	09215C105	1,234	17,000	SH		DFND	2	17,000	0	0
BLACKROCK INC	COM	09247X101	2,508	4,610	SH		DFND	2	4,610	0	0
BlackRock Income Trust	COM	09247F100	83	13,475	SH		DFND	1	13,475	0	0
Booz Allen Hamilton Holdings A	CL A	099502106	1,735	22,304	SH		DFND	1	22,304	0	0
Booz Allen Hamilton Holdings A	CL A	099502106	3,961	50,925	SH		DFND	2	50,925	0	0
BOSTON SCIENTIFIC	COM	101137107	878	25,000	SH		DFND	2	25,000	0	0
Broadcom Inc	COM	11135F101	35	110	SH		DFND	1	110	0	0
Broadcom Inc	COM	11135F101	5,058	16,025	SH		DFND	2	16,025	0	0
Brookfield Asset Mgt A LV	CL A LTD VT SH	112585104	31,579	962,496	SH		DFND	1	962,496	0	0
Brookfield Asset Mgt A LV	CL A LTD VT SH	112585104	6,090	185,651	SH		DFND	2	185,651	0	0
BRP INC	COM SUN VTG	05577W200	4,196	98,700	SH		DFND	0	98,700	0	0
BRP INC	COM SUN VTG	05577W200	136	3,200	SH		DFND	2	3,200	0	0
CANADA GOOSE HLDINGS	SHS SUB VTG	135086106	2,411	104,200	SH		DFND	0	104,200	0	0
Canadian Imperial Bank of Commerce	COM	136069101	133	2,003	SH		DFND	1	2,003	0	0
Canadian Imperial Bank of Commerce	COM	136069101	590	8,850	SH		DFND	2	8,850	0	0
Canadian National Railway Company	COM	136375102	13,811	156,584	SH		DFND	1	156,584	0	0
Canadian National Railway Company	COM	136375102	3,124	35,425	SH		DFND	2	35,425	0	0
Canadian Natural Resources Limited	COM	136385101	809	46,808	SH		DFND	1	46,808	0	0
Canadian Pacific Railway Ltd	COM	13645T100	16,177	63,794	SH		DFND	1	63,794	0	0
Canadian Pacific Railway Ltd	COM	13645T100	946	3,730	SH		DFND	2	3,730	0	0
CBOE GLOBAL MARKET	COM	12503M108	886	9,500	SH		DFND	2	9,500	0	0
Cenovus Energy Inc	COM	15135U109	303	65,010	SH		DFND	1	65,010	0	0
Chevron Corp	COM	166764100	679	7,605	SH		DFND	1	7,605	0	0
Chevron Corp	COM	166764100	1,407	15,771	SH		DFND	2	15,771	0	0
Cimpress PLC	SHS EURO	G2143T103	22	290	SH		DFND	1	290	0	0
Comcast Corp Cl-A	CL A	20030N101	1,247	31,995	SH		DFND	1	31,995	0	0
Comcast Corp Cl-A	CL A	20030N101	4,380	112,374	SH		DFND	2	112,374	0	0
Constellation Brands Inc Cl-A	CL A	21036P108	2,867	16,385	SH		DFND	2	16,385	0	0
COOPER COMPANIES IN	COM NEW	216648402	1,092	3,850	SH		DFND	2	3,850	0	0
Costco Wholesale Corp	COM	22160K105	13,241	43,670	SH		DFND	1	43,670	0	0
Costco Wholesale Corp	COM	22160K105	7,694	25,373	SH		DFND	2	25,373	0	0
Cowen Group Inc - Cl A New	COM	223622606	3,704	228,515	SH		DFND	1	228,515	0	0
Cowen Group Inc - Cl A New	COM	223622606	27	1,650	SH		DFND	2	1,650	0	0
Crescent Point Energy Corp.	COM	22576C101	608	376,600	SH		DFND	1	376,600	0	0
CVS Health Corporation	COM	126650100	9,856	151,695	SH		DFND	1	151,695	0	0
CVS Health Corporation	COM	126650100	142	2,185	SH		DFND	2	2,185	0	0
Danaher Corp	COM	235851102	2,753	15,567	SH		DFND	1	15,567	0	0
Danaher Corp	COM	235851102	1,396	7,896	SH		DFND	2	7,896	0	0
DESCARTES SYSTEMS	COM	249906108	6,751	128,300	SH		DFND	0	128,300	0	0
Diageo PLC SP/ADR	SPON ADR NEW	25243Q205	7,729	57,515	SH		DFND	1	57,515	0	0
Diageo PLC SP/ADR	SPON ADR NEW	25243Q205	880	6,545	SH		DFND	2	6,545	0	0
Discovery Inc Ser-A	COM SER A	25470F104	6,673	316,265	SH		DFND	1	316,265	0	0
Discovery Inc Ser-A	COM SER A	25470F104	44	2,100	SH		DFND	2	2,100	0	0
DOMINOS PIZZA INC	COM	25754A201	554	1,500	SH		DFND	2	1,500	0	0
Dupont De Nemours Inc	COM	26614N102	6,043	113,733	SH		DFND	1	113,733	0	0
Dupont De Nemours Inc	COM	26614N102	47	880	SH		DFND	2	880	0	0
EATON CORPORATION	SHS	G29183103	3,484	39,830	SH		DFND	2	39,830	0	0
Ecolab Inc	COM	278865100	1,903	9,565	SH		DFND	1	9,565	0	0
Ecolab Inc	COM	278865100	3,973	19,973	SH		DFND	2	19,973	0	0
Enbridge Inc	COM	29250N105	1,853	61,138	SH		DFND	1	61,138	0	0
Enbridge Inc	COM	29250N105	2,789	92,025	SH		DFND	2	92,025	0	0
Encompass Health Corp	COM	29261A100	3,560	57,490	SH		DFND	1	57,490	0	0
Encompass Health Corp	COM	29261A100	32	520	SH		DFND	2	520	0	0
Energy Transfer LP	COM UT LTD PTN	29273V100	11,571	1,625,085	SH		DFND	1	1,625,085	0	0
Energy Transfer LP	COM UT LTD PTN	29273V100	103	14,495	SH		DFND	2	14,495	0	0
ENERPLUS CORP	COM	292766102	902	321,600	SH		DFND	0	321,600	0	0
Estee Lauder Companies Inc CL-A	CL A	518439104	1,298	6,880	SH		DFND	1	6,880	0	0
Estee Lauder Companies Inc CL-A	CL A	518439104	2,954	15,656	SH		DFND	2	15,656	0	0
Facebook Inc Cl-A	CL A	30303M102	19,408	85,471	SH		DFND	1	85,471	0	0
Facebook Inc Cl-A	CL A	30303M102	7,248	31,920	SH		DFND	2	31,920	0	0
Fidelity Natl Info Svcs	COM	31620M106	1,772	13,214	SH		DFND	1	13,214	0	0
First Republic Bank	COM	33616C100	2,021	19,065	SH		DFND	1	19,065	0	0
First Republic Bank	COM	33616C100	6,436	60,720	SH		DFND	2	60,720	0	0
FIRSTSERVICE CORP	COM	33767E202	7,219	71,900	SH		DFND	0	71,900	0	0
FISERV INC	COM	337738108	927	9,500	SH		DFND	2	9,500	0	0
FOMENTO ECON MEXI	SPON ECON MEXI	344419106	1,085	17,500	SH		DFND	2	17,500	0	0
Franco-Nevada Corp	COM	351858105	701	5,037	SH		DFND	1	5,037	0	0
Franco-Nevada Corp	COM	351858105	592	4,250	SH		DFND	2	4,250	0	0
GCI LIBERTY INC	COM CLASS A	36164V305	1,956	27,500	SH		DFND	2	27,500	0	0
Global Payments Inc.	COM	37940X102	11,584	68,296	SH		DFND	1	68,296	0	0
Global Payments Inc.	COM	37940X102	399	2,350	SH		DFND	2	2,350	0	0
GODADDY INC	CL A	380237107	2,200	30,000	SH		DFND	2	30,000	0	0
GRANITE REAL ESTATE	UNIT 99/99/9999	387437114	278	5,400	SH		DFND	2	5,400	0	0
HDFC Bank Ltd ADR	SPONSORED ADS	40415F101	182	4,000	SH		DFND	1	4,000	0	0
HDFC Bank Ltd ADR	SPONSORED ADS	40415F101	3,628	79,816	SH		DFND	2	79,816	0	0
Home Depot Inc	COM	437076102	11,406	45,532	SH		DFND	1	45,532	0	0
Home Depot Inc	COM	437076102	6,024	24,044	SH		DFND	2	24,044	0	0
Honeywell International Inc	COM	438516106	8,764	60,614	SH		DFND	1	60,614	0	0
Honeywell International Inc	COM	438516106	3,544	24,510	SH		DFND	2	24,510	0	0
Intel Corporation	COM	458140100	5,427	90,712	SH		DFND	1	90,712	0	0
Intel Corporation	COM	458140100	332	5,550	SH		DFND	2	5,550	0	0
INTERACTIVE BROKERS	COM CL A	45841N107	1,775	42,500	SH		DFND	2	42,500	0	0
ISHARES TR	IBOXX HI YD ETF	464288513	979	12,000	SH		DFND	2	12,000	0	0
ISHARES TR	0-5YR HI YL CP	46434V407	986	23,000	SH		DFND	2	23,000	0	0
Johnson & Johnson	COM	478160104	36	255	SH		DFND	1	255	0	0
Johnson & Johnson	COM	478160104	3,963	28,180	SH		DFND	2	28,180	0	0
JPMorgan Chase & Company	COM	46625H100	20,937	222,589	SH		DFND	1	222,589	0	0
JPMorgan Chase & Company	COM	46625H100	4,491	47,750	SH		DFND	2	47,750	0	0
Keysight Technologies Inc	COM	49338L103	164	1,625	SH		DFND	1	1,625	0	0
Keysight Technologies Inc	COM	49338L103	944	9,365	SH		DFND	2	9,365	0	0
Kimberly Clark Corp	COM	494368103	54	385	SH		DFND	1	385	0	0
Kimberly Clark Corp	COM	494368103	2,431	17,200	SH		DFND	2	17,200	0	0
KINROSS GOLD CORP	COM	496902404	215	29,900	SH		DFND	2	29,900	0	0
KIRKLAND LAKE GOLD	COM	49741E100	4,428	107,882	SH		DFND	0	107,882	0	0
KIRKLAND LAKE GOLD	COM	49741E100	505	12,300	SH		DFND	2	12,300	0	0
Kraneshares Quadratic Interest Rate ETF	QUADRTC INT RT	500767736	345	12,726	SH		DFND	2	12,726	0	0
Lockheed Martin Corp	COM	539830109	33	90	SH		DFND	1	90	0	0
Lockheed Martin Corp	COM	539830109	634	1,737	SH		DFND	2	1,737	0	0
Madison Square Garden	CL A	55826T102	2,876	38,350	SH		DFND	1	38,350	0	0
Madison Square Garden	CL A	55826T102	24	325	SH		DFND	2	325	0	0
Manulife Financial Corporation	COM	56501R106	135	9,948	SH		DFND	1	9,948	0	0
Manulife Financial Corporation	COM	56501R106	2,848	209,975	SH		DFND	2	209,975	0	0
Marsh & McLennan Companies, Inc	COM	571748102	5,605	52,200	SH		DFND	1	52,200	0	0
Marsh & McLennan Companies, Inc	COM	571748102	285	2,660	SH		DFND	2	2,660	0	0
Mastercard Inc Cl-A	CL A	57636Q104	6,416	21,696	SH		DFND	1	21,696	0	0
Mastercard Inc Cl-A	CL A	57636Q104	4,401	14,883	SH		DFND	2	14,883	0	0
McDonald's Corp	COM	580135101	34	187	SH		DFND	1	187	0	0
McDonald's Corp	COM	580135101	620	3,361	SH		DFND	2	3,361	0	0
Medtronic PLC	SHS	G5960L103	5,557	60,596	SH		DFND	1	60,596	0	0
Medtronic PLC	SHS	G5960L103	3,353	36,562	SH		DFND	2	36,562	0	0
Microsoft Corp	COM	594918104	30,927	151,966	SH		DFND	1	151,966	0	0
Microsoft Corp	COM	594918104	15,694	77,118	SH		DFND	2	77,118	0	0
MOODYS CORP	COM	615369105	1,099	4,000	SH		DFND	2	4,000	0	0
Newmont Mining Corp. (Holding Co.)	COM	651639106	3,152	51,075	SH		DFND	2	51,075	0	0
NIKE Inc Class B	CL B	654106103	15,126	154,270	SH		DFND	1	154,270	0	0
NIKE Inc Class B	CL B	654106103	5,164	52,666	SH		DFND	2	52,666	0	0
NORTH AMERICAN CONST	COM	656811106	3,387	542,100	SH		DFND	0	542,100	0	0
NORTH AMERICAN CONST	COM	656811106	128	20,500	SH		DFND	2	20,500	0	0
NUTRIEN LTD	COM	67077M108	263	8,200	SH		DFND	2	8,200	0	0
O-I Glass	COM	67098H104	3,289	366,295	SH		DFND	1	366,295	0	0
O-I Glass	COM	67098H104	26	2,900	SH		DFND	2	2,900	0	0
Open Text Corporation	COM	683715106	546	12,900	SH		DFND	0	12,900	0	0
Open Text Corporation	COM	683715106	4	100	SH		DFND	1	100	0	0
Open Text Corporation	COM	683715106	1,119	26,425	SH		DFND	2	26,425	0	0
Otis Worldwide Corp	COM	68902V107	528	9,285	SH		DFND	1	9,285	0	0
Otis Worldwide Corp	COM	68902V107	532	9,356	SH		DFND	2	9,356	0	0
Ovintiv Inc	COM	69047Q102	138	14,490	SH		DFND	1	14,490	0	0
PAYCHEX INC	COM	704326107	1,061	14,000	SH		DFND	2	14,000	0	0
Paypal Holdings Inc	COM	70450Y103	4	23	SH		DFND	1	23	0	0
Paypal Holdings Inc	COM	70450Y103	915	5,250	SH		DFND	2	5,250	0	0
Pembina Pipeline Corp	COM	706327103	6,234	250,146	SH		DFND	1	250,146	0	0
Pembina Pipeline Corp	COM	706327103	7	270	SH		DFND	2	270	0	0
PepsiCo Inc	COM	713448108	7,296	55,165	SH		DFND	1	55,165	0	0
PepsiCo Inc	COM	713448108	2,918	22,060	SH		DFND	2	22,060	0	0
PERKINELMER INC	COM	714046109	883	9,000	SH		DFND	2	9,000	0	0
Philip Morris Intl Inc	COM	718172109	84	1,200	SH		DFND	1	1,200	0	0
Philip Morris Intl Inc	COM	718172109	5,080	72,500	SH		DFND	2	72,500	0	0
Precision Drilling Corp	COM 2010	74022D308	37	48,009	SH		DFND	1	48,009	0	0
Progressive Corp Ohio	COM	743315103	115	1,440	SH		DFND	1	1,440	0	0
Progressive Corp Ohio	COM	743315103	126	1,570	SH		DFND	2	1,570	0	0
RESTAURANT BRANDS	COM	76131D103	671	12,375	SH		DFND	2	12,375	0	0
Rogers Communications Inc -B	CL B	775109200	11,525	287,721	SH		DFND	1	287,721	0	0
Rogers Communications Inc -B	CL B	775109200	240	5,993	SH		DFND	2	5,993	0	0
ROPER TECHNOLOGIES	COM	776696106	427	1,100	SH		DFND	2	1,100	0	0
Ross Stores Inc	COM	778296103	860	10,084	SH		DFND	1	10,084	0	0
Ross Stores Inc	COM	778296103	1,204	14,128	SH		DFND	2	14,128	0	0
Royal Bank of Canada	COM	780087102	541	8,000	SH		DFND	0	8,000	0	0
Royal Bank of Canada	COM	780087102	22,737	336,159	SH		DFND	1	336,159	0	0
Royal Bank of Canada	COM	780087102	8,308	122,842	SH		DFND	2	122,842	0	0
S&P Global Inc	COM	78409V104	20,122	61,071	SH		DFND	1	61,071	0	0
S&P Global Inc	COM	78409V104	4,769	14,475	SH		DFND	2	14,475	0	0
SBA COMMUNICATIONS	CL A	78410G104	328	1,100	SH		DFND	2	1,100	0	0
SCHWAB CHARLES CORP	COM	808513105	675	20,000	SH		DFND	2	20,000	0	0
Shaw Communications Inc -B	CL B CONV	82028K200	20,161	1,240,044	SH		DFND	1	1,240,044	0	0
Shaw Communications Inc -B	CL B CONV	82028K200	323	19,855	SH		DFND	2	19,855	0	0
Sherwin-Williams Co	COM	824348106	3,888	6,729	SH		DFND	2	6,729	0	0
SPDR Bloomberg Barclays 1-3 mth T-Bill	SPDR BLOOMBERG	78468R663	6,871	75,070	SH		DFND	1	75,070	0	0
SPDR Bloomberg Barclays 1-3 mth T-Bill	SPDR BLOOMBERG	78468R663	4,499	49,151	SH		DFND	2	49,151	0	0
SPDR Gold Trust ETF	GOLD SHS	78463V107	6,719	40,147	SH		DFND	1	40,147	0	0
SPDR Gold Trust ETF	GOLD SHS	78463V107	360	2,150	SH		DFND	2	2,150	0	0
SPDR SERIES TRUST	BLOOMBERG BRCLYS	78468R622	497	4,912	SH		DFND	2	4,912	0	0
SPOTIFY TECHNOLOGY	SHS	L8681T102	1,858	7,197	SH		DFND	2	7,197	0	0
STANTEC INC	COM	85472N109	2,745	89,200	SH		DFND	0	89,200	0	0
STANTEC INC	COM	85472N109	779	25,300	SH		DFND	2	25,300	0	0
Starbucks Corp	COM	855244109	942	12,802	SH		DFND	1	12,802	0	0
Starbucks Corp	COM	855244109	944	12,825	SH		DFND	2	12,825	0	0
Sun Life Financial Services Canada Inc	COM	866796105	314	8,567	SH		DFND	1	8,567	0	0
Sun Life Financial Services Canada Inc	COM	866796105	337	9,200	SH		DFND	2	9,200	0	0
Suncor Energy Inc.	COM	867224107	196	11,658	SH		DFND	1	11,658	0	0
Suncor Energy Inc.	COM	867224107	3,009	179,025	SH		DFND	2	179,025	0	0
Taiwan Semiconductor Manufacturing SP/ADR	SPONSORED ADS	874039100	1,487	26,200	SH		DFND	1	26,200	0	0
Taiwan Semiconductor Manufacturing SP/ADR	SPONSORED ADS	874039100	5,379	94,749	SH		DFND	2	94,749	0	0
Targa Resources Corp	COM	87612G101	702	35,000	SH		DFND	1	35,000	0	0
TC ENERGY	COM	87807B107	1,066	25,025	SH		DFND	2	25,025	0	0
TCW Strategic Income Fund	COM	872340104	92	16,825	SH		DFND	1	16,825	0	0
Telus Corporation	COM	87971M103	51	3,070	SH		DFND	1	3,070	0	0
Telus Corporation	COM	87971M103	1,201	71,825	SH		DFND	2	71,825	0	0
Tesla Motors Inc.	COM	88160R101	533	494	SH		DFND	1	494	0	0
Texas Instruments-Cum Rts	COM	882508104	5	40	SH		DFND	1	40	0	0
Texas Instruments-Cum Rts	COM	882508104	3,495	27,525	SH		DFND	2	27,525	0	0
TEXAS PAC LD TR	SUB CTF PROP I T	882610108	892	1,500	SH		DFND	2	1,500	0	0
TFI INTERNATIONAL	COM	87241L109	525	14,825	SH		DFND	2	14,825	0	0
Thermo Fisher Scientific Inc	COM	883556102	14,812	40,879	SH		DFND	1	40,879	0	0
Thermo Fisher Scientific Inc	COM	883556102	7,007	19,339	SH		DFND	2	19,339	0	0
THOMSON REUTERS COR	COM NEW	884903709	427	6,300	SH		DFND	2	6,300	0	0
TJX Companies Inc	COM	872540109	12,117	239,651	SH		DFND	1	239,651	0	0
TJX Companies Inc	COM	872540109	351	6,935	SH		DFND	2	6,935	0	0
Toronto Dominion Bank	COM NEW	891160509	1,019	22,900	SH		DFND	0	22,900	0	0
Toronto Dominion Bank	COM NEW	891160509	21,672	487,082	SH		DFND	1	487,082	0	0
Toronto Dominion Bank	COM NEW	891160509	4,116	92,507	SH		DFND	2	92,507	0	0
Townsquare Media Inc Cl A	CL A	892231101	45	10,000	SH		DFND	1	10,000	0	0
Union Pacific Corp	COM	907818108	446	2,640	SH		DFND	1	2,640	0	0
UnitedHealth Group Inc	COM	91324P102	13,256	44,943	SH		DFND	1	44,943	0	0
UnitedHealth Group Inc	COM	91324P102	6,059	20,543	SH		DFND	2	20,543	0	0
Vaneck Vec Gld Miners ETF	GOLD MINERS ETF	92189F106	10,629	289,790	SH		DFND	1	289,790	0	0
Vaneck Vec Gld Miners ETF	GOLD MINERS ETF	92189F106	89	2,420	SH		DFND	2	2,420	0	0
Vanguard S/T Corp Bond ETF	SHRT TRM BOND	92206C409	5,415	65,512	SH		DFND	1	65,512	0	0
Vanguard S/T Corp Bond ETF	SHRT TRM BOND	92206C409	1,042	12,600	SH		DFND	2	12,600	0	0
Verizon Communications Inc	COM	92343V104	44	800	SH		DFND	1	800	0	0
Verizon Communications Inc	COM	92343V104	182	3,305	SH		DFND	2	3,305	0	0
Vermilion Energy Inc	COM	923725105	1,051	236,853	SH		DFND	1	236,853	0	0
Vermilion Energy Inc	COM	923725105	1	300	SH		DFND	2	300	0	0
Visa Inc	COM CL A	92826C839	22,952	118,816	SH		DFND	1	118,816	0	0
Visa Inc	COM CL A	92826C839	7,307	37,823	SH		DFND	2	37,823	0	0
Walmart Inc.	COM	931142103	7,007	58,502	SH		DFND	1	58,502	0	0
Walmart Inc.	COM	931142103	306	2,555	SH		DFND	2	2,555	0	0
Walt Disney Co	COM DISNEY	254687106	1,361	12,209	SH		DFND	1	12,209	0	0
Walt Disney Co	COM DISNEY	254687106	950	8,525	SH		DFND	2	8,525	0	0
WASTE CONNECTIONS	COM	94106B101	1,051	11,250	SH		DFND	2	11,250	0	0
WATSCO INC	COM	942622200	1,013	5,700	SH		DFND	2	5,700	0	0