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	14,351	132,081	SH		DFND	1	132,081	0	0
Abbott Laboratories	COM	002824100	6,171	56,805	SH		DFND	2	56,805	0	0
AbbVie Inc	COM	00287Y109	94	612	SH		DFND	1	612	0	0
AbbVie Inc	COM	00287Y109	6,552	42,775	SH		DFND	2	42,775	0	0
Aberdeen Bloomberg All Commodity Strategy K- ETF	BBRG ALL COMD K1	003261104	311	11,436	SH		DFND	2	11,436	0	0
Accenture PLC Cl-A	SHS CLASS A	G1151C101	5,358	19,298	SH		DFND	1	19,298	0	0
Accenture PLC Cl-A	SHS CLASS A	G1151C101	12,804	46,117	SH		DFND	2	46,117	0	0
Adobe Systems Inc	COM	00724F101	51	140	SH		DFND	1	140	0	0
Adobe Systems Inc	COM	00724F101	1,464	4,000	SH		DFND	2	4,000	0	0
ADV MICRO DEVICES	COM	007903107	803	10,500	SH		DFND	2	10,500	0	0
AGNICO EAGLE MINES	COM	008474108	1,562	34,205	SH		DFND		34,205	0	0
ALGONQUIN PWR&UTIL	COM	015857105	6,229	464,425	SH		DFND	2	464,425	0	0
Alphabet Inc Cl A	CAP STK CL A	02079K305	3,212	1,474	SH		DFND	1	1,474	0	0
Alphabet Inc Cl A	CAP STK CL A	02079K305	5,590	2,565	SH		DFND	2	2,565	0	0
Alphabet Inc Cl A	CAP STK CL A	02079K305	1,417	650	SH		DFND		650	0	0
Alphabet Inc Cl-C	CAP STK CL C	02079K107	32,536	14,874	SH		DFND	1	14,874	0	0
Alphabet Inc Cl-C	CAP STK CL C	02079K107	6,731	3,077	SH		DFND	2	3,077	0	0
Amazon.com Inc	COM	023135106	212	2,000	SH		DFND	1	2,000	0	0
Amazon.com Inc	COM	023135106	2,995	28,200	SH		DFND	2	28,200	0	0
American Express Co	COM	025816109	365	2,634	SH		DFND	1	2,634	0	0
American Express Co	COM	025816109	17	120	SH		DFND	2	120	0	0
American Tower Corp	COM	03027X100	268	1,050	SH		DFND	1	1,050	0	0
American Tower Corp	COM	03027X100	4,096	16,025	SH		DFND	2	16,025	0	0
Amgen Inc	COM	031162100	2,407	9,892	SH		DFND	1	9,892	0	0
Analog Devices Inc	COM	032654105	14,773	101,121	SH		DFND	1	101,121	0	0
Analog Devices Inc	COM	032654105	3,581	24,515	SH		DFND	2	24,515	0	0
Analog Devices Inc	COM	032654105	644	4,410	SH		DFND		4,410	0	0
Aon PLC Cl A	SHS CL A	G0403H108	564	2,091	SH		DFND	1	2,091	0	0
Aon PLC Cl A	SHS CL A	G0403H108	9,407	34,880	SH		DFND	2	34,880	0	0
Apple Inc	COM	037833100	19,143	140,015	SH		DFND	1	140,015	0	0
Apple Inc	COM	037833100	4,587	33,551	SH		DFND	2	33,551	0	0
Applied Materials Inc	COM	038222105	41	455	SH		DFND	1	455	0	0
Applied Materials Inc	COM	038222105	428	4,700	SH		DFND		4,700	0	0
ASML Holding N.V.	N Y REGISTRY SHS	N07059210	7	15	SH		DFND	1	15	0	0
ASML Holding N.V.	N Y REGISTRY SHS	N07059210	761	1,600	SH		DFND	2	1,600	0	0
AstraZeneca PLC ADR	SPONSORED ADR	046353108	419	6,345	SH		DFND	1	6,345	0	0
AstraZeneca PLC ADR	SPONSORED ADR	046353108	17	250	SH		DFND	2	250	0	0
AUTODESK INC	COM	052769106	946	5,500	SH		DFND	2	5,500	0	0
Autozone Inc (NV)	COM	053332102	37	17	SH		DFND	1	17	0	0
Autozone Inc (NV)	COM	053332102	860	400	SH		DFND	2	400	0	0
AVANTOR INC	COM	05352A100	902	29,000	SH		DFND	2	29,000	0	0
Bank of America	COM	060505104	3,981	127,895	SH		DFND	1	127,895	0	0
Bank of America	COM	060505104	76	2,430	SH		DFND	2	2,430	0	0
Bank of Montreal	COM	063671101	17,331	180,250	SH		DFND	1	180,250	0	0
Bank of Montreal	COM	063671101	3,843	39,981	SH		DFND	2	39,981	0	0
Bank of Montreal	COM	063671101	2,725	28,400	SH		DFND		28,400	0	0
Bank of Nova Scotia	COM	064149107	6,887	116,380	SH		DFND	1	116,380	0	0
Bank of Nova Scotia	COM	064149107	2,463	41,700	SH		DFND		41,700	0	0
BCE Inc	COM NEW	05534B760	1,394	28,370	SH		DFND	1	28,370	0	0
BCE Inc	COM NEW	05534B760	57	1,150	SH		DFND	2	1,150	0	0
BCE Inc	COM NEW	05534B760	1,697	34,600	SH		DFND		34,600	0	0
BLACKROCK INC	COM	09247X101	1,522	2,500	SH		DFND	2	2,500	0	0
BlackRock Income Trust	COM	09247F100	119	26,200	SH		DFND	1	26,200	0	0
BlackRock Income Trust	COM	09247F100	28	6,185	SH		DFND	2	6,185	0	0
Booking Holdings Inc	COM	09857L108	394	225	SH		DFND	1	225	0	0
Booking Holdings Inc	COM	09857L108	804	460	SH		DFND	2	460	0	0
BOOZ ALLEN HAMILTO	CL A	099502106	3,580	39,625	SH		DFND	2	39,625	0	0
BOOZ ALLEN HAMILTO	CL A	099502106	759	8,400	SH		DFND		8,400	0	0
Broadcom Inc	COM	11135F101	120	246	SH		DFND	1	246	0	0
Broadcom Inc	COM	11135F101	3,693	7,600	SH		DFND	2	7,600	0	0
Brookfield Asset Mgt A LV	CL A LTD VT SH	112585104	37,374	840,252	SH		DFND	1	840,252	0	0
Brookfield Asset Mgt A LV	CL A LTD VT SH	112585104	4,018	90,505	SH		DFND	2	90,505	0	0
Brookfield Asset Mgt A LV	CL A LTD VT SH	112585104	2,747	61,759	SH		DFND		61,759	0	0
Brookfield Infra Ptnr LPU	LP INT UNIT	G16252101	2,020	52,866	SH		DFND	1	52,866	0	0
BROWN & BROWN INC	COM	115236101	583	10,000	SH		DFND	2	10,000	0	0
BRP INC	COM SUN VTG	05577W200	3,118	50,775	SH		DFND		50,775	0	0
CAE Inc	COM	124765108	20,461	830,385	SH		DFND	1	830,385	0	0
CAE Inc	COM	124765108	269	10,930	SH		DFND	2	10,930	0	0
CAE Inc	COM	124765108	3,116	126,700	SH		DFND		126,700	0	0
Cameco Corporation	COM	13321L108	1,873	89,106	SH		DFND	1	89,106	0	0
Cameco Corporation	COM	13321L108	6,507	310,125	SH		DFND	2	310,125	0	0
Canadian Imperial Bank of Commerce	COM	136069101	292	6,008	SH		DFND	1	6,008	0	0
Canadian National Railway Co	COM	136375102	25,019	222,440	SH		DFND	1	222,440	0	0
Canadian National Railway Co	COM	136375102	3,473	30,930	SH		DFND	2	30,930	0	0
Canadian National Railway Co	COM	136375102	1,313	11,700	SH		DFND		11,700	0	0
Canadian Natural Resources Limited	COM	136385101	2,708	50,394	SH		DFND	1	50,394	0	0
Canadian Natural Resources Limited	COM	136385101	4,245	79,148	SH		DFND	2	79,148	0	0
Canadian Pacific Railway Ltd	COM	13645T100	29,170	417,662	SH		DFND	1	417,662	0	0
Canadian Pacific Railway Ltd	COM	13645T100	3,661	52,500	SH		DFND	2	52,500	0	0
CGI INC	CL A SUB VTG	12532H104	1,510	19,000	SH		DFND		19,000	0	0
Cigna Corp	COM	125523100	2,281	8,655	SH		DFND	1	8,655	0	0
Cigna Corp	COM	125523100	930	3,530	SH		DFND		3,530	0	0
Coca-Cola Co	COM	191216100	2,564	40,750	SH		DFND	1	40,750	0	0
Coca-Cola Co	COM	191216100	68	1,075	SH		DFND	2	1,075	0	0
COLLIERS INTL	SUB VTG SHS	194693107	317	2,900	SH		DFND		2,900	0	0
Costco Wholesale Corp	COM	22160K105	19,308	40,285	SH		DFND	1	40,285	0	0
Costco Wholesale Corp	COM	22160K105	9,548	19,923	SH		DFND	2	19,923	0	0
Crescent Point Energy Corp.	COM	22576C101	142	20,000	SH		DFND	1	20,000	0	0
CSX CORP	COM	126408103	567	19,500	SH		DFND	2	19,500	0	0
CVS Health Corporation	COM	126650100	4,841	52,240	SH		DFND	1	52,240	0	0
CVS Health Corporation	COM	126650100	105	1,135	SH		DFND	2	1,135	0	0
Danaher Corp	COM	235851102	3,491	13,770	SH		DFND	1	13,770	0	0
Danaher Corp	COM	235851102	1,014	4,000	SH		DFND	2	4,000	0	0
Descartes Systems Group Inc	COM	249906108	1,306	21,014	SH		DFND	1	21,014	0	0
Descartes Systems Group Inc	COM	249906108	4,508	72,700	SH		DFND		72,700	0	0
Diageo PLC SP/ADR	SPON ADR NEW	25243Q205	16,440	94,420	SH		DFND	1	94,420	0	0
Diageo PLC SP/ADR	SPON ADR NEW	25243Q205	1,566	8,990	SH		DFND	2	8,990	0	0
Discover Financial Services	COM	254709108	4,753	50,251	SH		DFND	1	50,251	0	0
Discover Financial Services	COM	254709108	14	150	SH		DFND	2	150	0	0
DuPont de Nemours Inc	COM	26614N102	2,716	48,875	SH		DFND	1	48,875	0	0
DuPont de Nemours Inc	COM	26614N102	11	195	SH		DFND	2	195	0	0
Eaton Corporation	SHS	G29183103	283	2,250	SH		DFND	1	2,250	0	0
Eaton Corporation	SHS	G29183103	1,258	9,985	SH		DFND	2	9,985	0	0
Elevance Health Inc.	COM	036752103	5,331	11,047	SH		DFND	1	11,047	0	0
Elevance Health Inc.	COM	036752103	4,361	9,035	SH		DFND	2	9,035	0	0
Eli Lilly & Co	COM	532457108	59	183	SH		DFND	1	183	0	0
Eli Lilly & Co	COM	532457108	6,760	20,850	SH		DFND	2	20,850	0	0
Emerging Markets Internet and Ecommerce ETF	EMQQ EM INTERN	301505889	2,270	70,203	SH		DFND	1	70,203	0	0
Emerson Electric Co	COM	291011104	322	4,045	SH		DFND	1	4,045	0	0
Emerson Electric Co	COM	291011104	13	165	SH		DFND	2	165	0	0
Enbridge Inc	COM	29250N105	3,398	80,477	SH		DFND	1	80,477	0	0
Enbridge Inc	COM	29250N105	4,570	108,425	SH		DFND	2	108,425	0	0
Energy Transfer LP	COM UT LTD PTN	29273V100	10,180	1,020,075	SH		DFND	1	1,020,075	0	0
Energy Transfer LP	COM UT LTD PTN	29273V100	163	16,365	SH		DFND	2	16,365	0	0
ENERPLUS CORP	COM	292766102	353	26,800	SH		DFND		26,800	0	0
ESTEE LAUDER CO	CL A	518439104	1,502	5,900	SH		DFND	2	5,900	0	0
FAIR ISAAC INC	COM	303250104	1,764	4,400	SH		DFND	2	4,400	0	0
First Republic Bank	COM	33616C100	4,208	29,184	SH		DFND	1	29,184	0	0
First Republic Bank	COM	33616C100	8,595	59,604	SH		DFND	2	59,604	0	0
FIRSTSERVICE CORP	COM	33767E202	4,418	36,500	SH		DFND		36,500	0	0
FORTIS INC	COM	349553107	722	15,300	SH		DFND		15,300	0	0
FREEPORT-MCMORAN INC	CL B	35671D857	2,554	87,300	SH		DFND	2	87,300	0	0
GALLAGHER ARTHR J&CO	COM	363576109	628	3,850	SH		DFND		3,850	0	0
GILDAN ACTIVEWEAR	COM	375916103	1,419	49,400	SH		DFND		49,400	0	0
GRANITE REAL ESTATE	UNIT 99/99/9999	387437114	2,558	41,800	SH		DFND		41,800	0	0
HDFC BANK LTD	SPONSORED ADS	40415F101	879	16,000	SH		DFND	2	16,000	0	0
HILTON WRLDWDE HLDGS	COM	43300A203	446	4,000	SH		DFND	2	4,000	0	0
Home Depot Inc	COM	437076102	14,468	52,750	SH		DFND	1	52,750	0	0
Home Depot Inc	COM	437076102	6,671	24,322	SH		DFND	2	24,322	0	0
HUDBAY MINERALS	COM	443628102	2,123	521,600	SH		DFND		521,600	0	0
ICON PLC	SHS	G4705A100	867	4,000	SH		DFND	2	4,000	0	0
INTER CONTINENTAL EX	COM	45866F104	1,317	14,000	SH		DFND	2	14,000	0	0
Intuit Inc	COM	461202103	9,369	24,306	SH		DFND	1	24,306	0	0
Intuit Inc	COM	461202103	3,067	7,958	SH		DFND	2	7,958	0	0
INVESCO EXCHANGETRAD	DYNMC LEISURE	46137V720	366	10,100	SH		DFND	2	10,100	0	0
INVESCO EXCHNG TRADE	SR LN ETF	46138G508	549	27,100	SH		DFND		27,100	0	0
IQVIA HOLDINGS INC	COM	46266C105	922	4,250	SH		DFND	2	4,250	0	0
ISHARES	GL CLEAN ENE ETF	464288224	389	20,400	SH		DFND	2	20,400	0	0
iShares Global Energy ETF	GLOBAL ENERG ETF	464287341	237	6,989	SH		DFND	2	6,989	0	0
iShares Select Dividend ETF	SELECT DIVID ETF	464287168	528	4,490	SH		DFND	1	4,490	0	0
ISHARES TR	0-5YR HI YL CP	46434V407	781	19,250	SH		DFND	2	19,250	0	0
Johnson & Johnson	COM	478160104	18,484	104,131	SH		DFND	1	104,131	0	0
Johnson & Johnson	COM	478160104	3,086	17,385	SH		DFND	2	17,385	0	0
Johnson & Johnson	COM	478160104	1,216	6,850	SH		DFND		6,850	0	0
Keysight Technologies Inc	COM	49338L103	272	1,975	SH		DFND	1	1,975	0	0
Keysight Technologies Inc	COM	49338L103	16	115	SH		DFND	2	115	0	0
KKR & CO INC	COM	48251W104	787	17,000	SH		DFND	2	17,000	0	0
KRANESHARES TR	QUADRTC INT RT	500767736	1,300	51,295	SH		DFND	2	51,295	0	0
LIBERTY BROADBAND	COM SER C	530307305	2,660	23,000	SH		DFND	2	23,000	0	0
Linde PLC	SHS	G5494J103	15,433	53,673	SH		DFND	1	53,673	0	0
Linde PLC	SHS	G5494J103	6,615	23,005	SH		DFND	2	23,005	0	0
Lowe's Companies Inc	COM	548661107	385	2,207	SH		DFND	1	2,207	0	0
Lowe's Companies Inc	COM	548661107	713	4,080	SH		DFND	2	4,080	0	0
MARRIOTT INTL INC	CL A	571903202	510	3,750	SH		DFND	2	3,750	0	0
Marsh & McLennan Companies, Inc	COM	571748102	18,613	119,890	SH		DFND	1	119,890	0	0
Marsh & McLennan Companies, Inc	COM	571748102	4,336	27,930	SH		DFND	2	27,930	0	0
Mastercard Inc Cl-A	CL A	57636Q104	232	735	SH		DFND	1	735	0	0
Mastercard Inc Cl-A	CL A	57636Q104	3,447	10,925	SH		DFND	2	10,925	0	0
Meta Platforms Inc Cl-A	CL A	30303M102	26	163	SH		DFND	1	163	0	0
Meta Platforms Inc Cl-A	CL A	30303M102	1,794	11,125	SH		DFND	2	11,125	0	0
Microsoft Corp	COM	594918104	36,458	141,955	SH		DFND	1	141,955	0	0
Microsoft Corp	COM	594918104	13,417	52,240	SH		DFND	2	52,240	0	0
Monster Beverage Corp	COM	61174X109	13	141	SH		DFND	1	141	0	0
Monster Beverage Corp	COM	61174X109	556	6,000	SH		DFND	2	6,000	0	0
Moody's Corp	COM	615369105	11	41	SH		DFND	1	41	0	0
Moody's Corp	COM	615369105	490	1,800	SH	��	DFND	2	1,800	0	0
Morgan Stanley	COM NEW	617446448	49	638	SH		DFND	1	638	0	0
Morgan Stanley	COM NEW	617446448	1,499	19,700	SH		DFND	2	19,700	0	0
Newmont Mining Corp. (Holding Co.)	COM	651639106	30	500	SH		DFND	1	500	0	0
Newmont Mining Corp. (Holding Co.)	COM	651639106	5,133	86,025	SH		DFND	2	86,025	0	0
Newmont Mining Corp. (Holding Co.)	COM	651639106	463	7,800	SH		DFND		7,800	0	0
NIKE Inc Cl-B	CL B	654106103	2,551	24,956	SH		DFND	1	24,956	0	0
NIKE Inc Cl-B	CL B	654106103	3,758	36,771	SH		DFND	2	36,771	0	0
NORTH AMERICAN CONST	COM	656811106	4,522	412,800	SH		DFND		412,800	0	0
NUTRIEN LTD	COM	67077M108	5,074	63,850	SH		DFND	2	63,850	0	0
NUTRIEN LTD	COM	67077M108	1,764	22,200	SH		DFND		22,200	0	0
NVR INC	COM	62944T105	2,342	585	SH		DFND	2	585	0	0
OREILLY AUTOMOTIVE I	COM	67103H107	569	900	SH		DFND	2	900	0	0
Pembina Pipeline Corp	COM	706327103	6,975	197,334	SH		DFND	1	197,334	0	0
Pembina Pipeline Corp	COM	706327103	10	270	SH		DFND	2	270	0	0
PepsiCo Inc	COM	713448108	59	355	SH		DFND	1	355	0	0
PepsiCo Inc	COM	713448108	6,612	39,675	SH		DFND	2	39,675	0	0
Pfizer Inc	COM	717081103	53	1,010	SH		DFND	1	1,010	0	0
Pfizer Inc	COM	717081103	765	14,600	SH		DFND		14,600	0	0
Philip Morris International Inc	COM	718172109	158	1,600	SH		DFND	1	1,600	0	0
Philip Morris International Inc	COM	718172109	5,541	56,125	SH		DFND	2	56,125	0	0
Phillips 66	COM	718546104	316	3,850	SH		DFND	1	3,850	0	0
Phillips 66	COM	718546104	12	145	SH		DFND	2	145	0	0
RAYMOND JAMES FINL	COM	754730109	1,010	11,300	SH		DFND		11,300	0	0
Rogers Communications Inc Cl-B	CL B	775109200	35,459	740,062	SH		DFND	1	740,062	0	0
Rogers Communications Inc Cl-B	CL B	775109200	677	14,120	SH		DFND	2	14,120	0	0
Royal Bank of Canada	COM	780087102	28,319	292,494	SH		DFND	1	292,494	0	0
Royal Bank of Canada	COM	780087102	9,119	94,302	SH		DFND	2	94,302	0	0
Royal Bank of Canada	COM	780087102	4,164	43,100	SH		DFND		43,100	0	0
S&P Global Inc	COM	78409V104	21,539	63,902	SH		DFND	1	63,902	0	0
S&P Global Inc	COM	78409V104	9,950	29,521	SH		DFND	2	29,521	0	0
SBA Communications CL-A	CL A	78410G104	3,016	9,424	SH		DFND	1	9,424	0	0
Sector SPDR Tr-Utilities	SBI INT-UTILS	81369Y886	414	5,900	SH		DFND	1	5,900	0	0
Sector SPDR Tr-Utilities	SBI INT-UTILS	81369Y886	558	7,959	SH		DFND	2	7,959	0	0
Selctr Hlth Care SPDR	SBI HEALTHCARE	81369Y209	26	200	SH		DFND	1	200	0	0
Selctr Hlth Care SPDR	SBI HEALTHCARE	81369Y209	392	3,054	SH		DFND	2	3,054	0	0
Select Sec Rl Est Sel ETF	RL EST SEL SEC	81369Y860	134	3,280	SH		DFND	1	3,280	0	0
Select Sec Rl Est Sel ETF	RL EST SEL SEC	81369Y860	373	9,125	SH		DFND	2	9,125	0	0
Shaw Communications Inc -B	CL B CONV	82028K200	29	1,000	SH		DFND	1	1,000	0	0
Shaw Communications Inc -B	CL B CONV	82028K200	303	10,300	SH		DFND		10,300	0	0
Sherwin-Williams Co	COM	824348106	11,356	50,717	SH		DFND	1	50,717	0	0
Sherwin-Williams Co	COM	824348106	5,980	26,706	SH		DFND	2	26,706	0	0
Simplify Volatility ETF	VOLATILITY PREM	82889N863	2,722	122,715	SH		DFND	1	122,715	0	0
Simplify Volatility ETF	VOLATILITY PREM	82889N863	462	20,826	SH		DFND	2	20,826	0	0
Southwest Airlines Co	COM	844741108	2,561	70,905	SH		DFND	1	70,905	0	0
Southwest Airlines Co	COM	844741108	13	360	SH		DFND	2	360	0	0
SPDR Gold Trust ETF	GOLD SHS	78463V107	7,284	43,237	SH		DFND	1	43,237	0	0
SPDR Gold Trust ETF	GOLD SHS	78463V107	371	2,204	SH		DFND	2	2,204	0	0
SPDR SER TR	BLOOMBERG SHT TE	78468R408	2,171	89,995	SH		DFND	2	89,995	0	0
SS&C TECH HLDGS	COM	78467J100	1,278	22,000	SH		DFND	2	22,000	0	0
STANTEC INC	COM	85472N109	315	7,200	SH		DFND		7,200	0	0
Starbucks Corp	COM	855244109	31	400	SH		DFND	1	400	0	0
Starbucks Corp	COM	855244109	649	8,500	SH		DFND	2	8,500	0	0
Sun Life Financial Services Canada Inc	COM	866796105	939	20,496	SH		DFND	1	20,496	0	0
Sun Life Financial Services Canada Inc	COM	866796105	238	5,200	SH		DFND		5,200	0	0
Suncor Energy Inc	COM	867224107	3,086	87,963	SH		DFND	1	87,963	0	0
Suncor Energy Inc	COM	867224107	8	215	SH		DFND	2	215	0	0
Taiwan Semiconductor Manufacturing Co SP ADR	SPONSORED ADS	874039100	8	102	SH		DFND	1	102	0	0
Taiwan Semiconductor Manufacturing Co SP ADR	SPONSORED ADS	874039100	899	11,000	SH		DFND	2	11,000	0	0
TC ENERGY	COM	87807B107	605	11,700	SH		DFND		11,700	0	0
TCW Strategic Income Fund	COM	872340104	137	28,350	SH		DFND	1	28,350	0	0
TCW Strategic Income Fund	COM	872340104	32	6,695	SH		DFND	2	6,695	0	0
Teck Resources Ltd B	CL B	878742204	26	850	SH		DFND	1	850	0	0
Teck Resources Ltd B	CL B	878742204	330	10,800	SH		DFND		10,800	0	0
Telus Corporation	COM	87971M103	303	13,600	SH		DFND	1	13,600	0	0
Telus Corporation	COM	87971M103	4,763	214,275	SH		DFND	2	214,275	0	0
Telus Corporation	COM	87971M103	1,351	60,800	SH		DFND		60,800	0	0
Tesla Motors Inc.	COM	88160R101	1,600	2,376	SH		DFND	1	2,376	0	0
Texas Instruments-Cum Rts	COM	882508104	6	40	SH		DFND	1	40	0	0
Texas Instruments-Cum Rts	COM	882508104	1,706	11,100	SH		DFND	2	11,100	0	0
Texas Instruments-Cum Rts	COM	882508104	653	4,250	SH		DFND		4,250	0	0
TEXAS PACIFIC LAND	COM	88262P102	1,786	1,200	SH		DFND	2	1,200	0	0
Texas Roadhouse Inc	COM	882681109	7	100	SH		DFND	1	100	0	0
TFI INTERNATIONAL	COM	87241L109	1,290	16,100	SH		DFND		16,100	0	0
Thermo Fisher Scientific Inc	COM	883556102	21,993	40,481	SH		DFND	1	40,481	0	0
Thermo Fisher Scientific Inc	COM	883556102	8,104	14,916	SH		DFND	2	14,916	0	0
Toronto-Dominion Bank	COM NEW	891160509	8,427	128,514	SH		DFND	1	128,514	0	0
Toronto-Dominion Bank	COM NEW	891160509	2,417	36,935	SH		DFND	2	36,935	0	0
Toronto-Dominion Bank	COM NEW	891160509	1,217	18,600	SH		DFND		18,600	0	0
Union Pacific Corp	COM	907818108	840	3,940	SH		DFND	1	3,940	0	0
Union Pacific Corp	COM	907818108	20	95	SH		DFND	2	95	0	0
UnitedHealth Group Inc	COM	91324P102	24,083	46,888	SH		DFND	1	46,888	0	0
UnitedHealth Group Inc	COM	91324P102	14,738	28,694	SH		DFND	2	28,694	0	0
VAIL RESORTS INC	COM	91879Q109	981	4,500	SH		DFND	2	4,500	0	0
VanEck Gold Miners ETF	GOLD MINERS ETF	92189F106	1,822	66,540	SH		DFND	1	66,540	0	0
VanEck Gold Miners ETF	GOLD MINERS ETF	92189F106	36	1,305	SH		DFND	2	1,305	0	0
Vanguard Div Appr ETF	DIV APP ETF	921908844	872	6,075	SH		DFND	1	6,075	0	0
Vanguard Real Estate ETF	REAL ESTATE ETF	922908553	825	9,050	SH		DFND	1	9,050	0	0
Vanguard Short-Term Bond ETF	SHORT TRM BOND	921937827	51	660	SH		DFND	1	660	0	0
Vanguard Short-Term Bond ETF	SHORT TRM BOND	921937827	791	10,305	SH		DFND	2	10,305	0	0
Vanguard Short-Term Corp Bond ETF	SHRT TRM CORP BD	92206C409	2,023	26,525	SH		DFND	1	26,525	0	0
Vanguard Short-Term Corp Bond ETF	SHRT TRM CORP BD	92206C409	1,746	22,900	SH		DFND	2	22,900	0	0
Vanguard Total Bond Market ETF	TOTAL BND MRKT	921937835	291	3,860	SH		DFND	1	3,860	0	0
Vanguard Total Bond Market ETF	TOTAL BND MRKT	921937835	739	9,820	SH		DFND	2	9,820	0	0
Verizon Communications Inc	COM	92343V104	211	4,150	SH		DFND	1	4,150	0	0
VERMILION ENERGY INC	COM	923725105	722	38,000	SH		DFND		38,000	0	0
Visa Inc Cl-A	COM CL A	92826C839	22,232	112,916	SH		DFND	1	112,916	0	0
Visa Inc Cl-A	COM CL A	92826C839	7,916	40,206	SH		DFND	2	40,206	0	0
Visa Inc Cl-A	COM CL A	92826C839	640	3,250	SH		DFND		3,250	0	0
Walmart Inc	COM	931142103	2,179	17,924	SH		DFND	1	17,924	0	0
Walt Disney Co	COM	254687106	1,245	13,193	SH		DFND	1	13,193	0	0
Warner Bros. Discovery, Inc	COM SER A	934423104	3,061	228,108	SH		DFND	1	228,108	0	0
Warner Bros. Discovery, Inc	COM SER A	934423104	11	815	SH		DFND	2	815	0	0
WATSCO INC	COM	942622200	2,353	9,850	SH		DFND	2	9,850	0	0
WILLIAMS SONOMA INC	COM	969904101	979	8,825	SH		DFND	2	8,825	0	0