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	36	500	SH		DFND	1	500	0	0
Abbott Laboratories	COM	002824100	224	3,100	SH		DFND	2	3,100	0	0
Abbvie Inc-W/I	COM	00287Y109	645	7,000	SH		DFND	2	7,000	0	0
Accenture PLC Cl-A	SHS CLASS A	G1151C101	5,374	38,112	SH		DFND	1	38,112	0	0
Accenture PLC Cl-A	SHS CLASS A	G1151C101	1,138	8,070	SH		DFND	2	8,070	0	0
Activision Blizzard Inc	COM	00507V109	279	6,000	SH		DFND	2	6,000	0	0
ALIBABA GROUP HLDG	SPONSORED ADR	01609W102	2,746	20,030	SH		DFND	2	20,030	0	0
Allergan PLC	SHS	G0177J108	35	263	SH		DFND	1	263	0	0
Allergan PLC	SHS	G0177J108	267	2,000	SH		DFND	2	2,000	0	0
Alphabet Inc Cl A	CAP STK CL A	02079K305	1,223	1,170	SH		DFND	1	1,170	0	0
Alphabet Inc Cl A	CAP STK CL A	02079K305	5,431	5,198	SH		DFND	2	5,198	0	0
Alphabet Inc Cl C	CAP STK CL C	02079K107	21,794	21,045	SH		DFND	1	21,045	0	0
Alphabet Inc Cl C	CAP STK CL C	02079K107	1,772	1,711	SH		DFND	2	1,711	0	0
Altria Group Inc	COM	02209S103	504	10,200	SH		DFND	1	10,200	0	0
Altria Group Inc	COM	02209S103	311	6,301	SH		DFND	2	6,301	0	0
Amazon.com Inc	COM	023135106	121	80	SH		DFND	1	80	0	0
Amazon.com Inc	COM	023135106	713	475	SH		DFND		475	0	0
American Intl Group New	COM NEW	026874784	9,257	234,892	SH		DFND	1	234,892	0	0
American Intl Group New	COM NEW	026874784	146	3,710	SH		DFND	2	3,710	0	0
American Tower Corp	COM	03027X100	10	65	SH		DFND	1	65	0	0
American Tower Corp	COM	03027X100	1,927	12,180	SH		DFND	2	12,180	0	0
Amgen Inc	COM	031162100	720	3,699	SH		DFND	2	3,699	0	0
ANHEUSER BUSCH INBEV	SPONSORED ADR	03524A108	2,159	32,806	SH		DFND	2	32,806	0	0
Anthem Inc.	COM	036752103	1,234	4,700	SH		DFND	1	4,700	0	0
Apollo Investment Corp-New	COM NEW	03761U502	208	16,735	SH		DFND	1	16,735	0	0
Apple Inc	COM	037833100	57	360	SH		DFND	1	360	0	0
Apple Inc	COM	037833100	539	3,420	SH		DFND		3,420	0	0
Automatc Data Proc	COM	053015103	1,599	12,200	SH		DFND	2	12,200	0	0
AVERY DENNISON CORP	COM	053611109	296	3,300	SH		DFND	2	3,300	0	0
Bank of America	COM	060505104	12,525	508,293	SH		DFND	1	508,293	0	0
Bank of America	COM	060505104	667	27,100	SH		DFND	2	27,100	0	0
Bank of Montreal	COM	063671101	1,939	29,670	SH		DFND	1	29,670	0	0
Bank of Montreal	COM	063671101	398	6,100	SH		DFND	2	6,100	0	0
Bank of Nova Scotia	COM	064149107	35,840	718,797	SH		DFND	1	718,797	0	0
Bank of Nova Scotia	COM	064149107	4,150	83,270	SH		DFND	2	83,270	0	0
Baxter International Inc	COM	071813109	14,428	219,205	SH		DFND	1	219,205	0	0
Baxter International Inc	COM	071813109	940	14,290	SH		DFND	2	14,290	0	0
BAYTEX ENERGY CORP	COM	07317Q105	1,269	719,059	SH		DFND	2	719,059	0	0
BCE Inc - New	COM NEW	05534B760	862	21,796	SH		DFND	1	21,796	0	0
BCE Inc - New	COM NEW	05534B760	1,737	43,975	SH		DFND	2	43,975	0	0
BCE Inc - New	COM NEW	05534B760	301	7,611	SH		DFND		7,611	0	0
Becton Dickinson & Co	COM	075887109	16,514	73,293	SH		DFND	1	73,293	0	0
Becton Dickinson & Co	COM	075887109	2,187	9,702	SH		DFND	2	9,702	0	0
Berkshire Hathaway B New	CL B NEW	084670702	449	2,200	SH		DFND	1	2,200	0	0
Berkshire Hathaway B New	CL B NEW	084670702	1,112	5,447	SH		DFND	2	5,447	0	0
Blackrock Inc	COM	09247X101	462	1,175	SH		DFND	1	1,175	0	0
Blackrock Inc	COM	09247X101	596	1,515	SH		DFND	2	1,515	0	0
Boeing Company	COM	097023105	1,841	5,708	SH		DFND	1	5,708	0	0
Boeing Company	COM	097023105	32	100	SH		DFND	2	100	0	0
Booking Holdings Inc	COM	09857L108	281	163	SH		DFND	2	163	0	0
Brighthouse Financial Inc	COM	10922N103	9,687	317,804	SH		DFND	1	317,804	0	0
Brighthouse Financial Inc	COM	10922N103	154	5,068	SH		DFND	2	5,068	0	0
Broadridge Finl Solns Inc	COM	11133T103	709	7,375	SH		DFND	2	7,375	0	0
Brookfield Asset Mgt A LV	CL A LTD VT SH	112585104	31,283	816,026	SH		DFND	1	816,026	0	0
Brookfield Asset Mgt A LV	CL A LTD VT SH	112585104	3,693	96,343	SH		DFND	2	96,343	0	0
BRP INC	COM SUN VTG	05577W200	564	21,800	SH		DFND		21,800	0	0
C A E Inc	COM	124765108	3,217	175,100	SH		DFND	2	175,100	0	0
Cameco Corporation	COM	13321L108	515	45,385	SH		DFND	2	45,385	0	0
Canadian Imperial Bank of Commerce	COM	136069101	222	2,978	SH		DFND	1	2,978	0	0
Canadian Imperial Bank of Commerce	COM	136069101	387	5,200	SH		DFND	2	5,200	0	0
Canadian Imperial Bank of Commerce	COM	136069101	39	518	SH		DFND		518	0	0
Canadian National Railway Company	COM	136375102	233	3,146	SH		DFND	1	3,146	0	0
Canadian National Railway Company	COM	136375102	1,048	14,150	SH		DFND	2	14,150	0	0
Canadian National Railway Company	COM	136375102	437	5,900	SH		DFND		5,900	0	0
Canadian Natural Resources Limited	COM	136385101	1,241	51,414	SH		DFND	1	51,414	0	0
Canadian Natural Resources Limited	COM	136385101	634	26,300	SH		DFND		26,300	0	0
Canadian Pacific Railway Limited	COM	13645T100	110	624	SH		DFND	1	624	0	0
Canadian Pacific Railway Limited	COM	13645T100	231	1,300	SH		DFND	2	1,300	0	0
Canadian Pacific Railway Limited	COM	13645T100	408	2,300	SH		DFND		2,300	0	0
Capital One Fincl Corp	COM	14040H105	7,289	96,425	SH		DFND	1	96,425	0	0
Capital One Fincl Corp	COM	14040H105	140	1,850	SH		DFND	2	1,850	0	0
CARNIVAL CORP	UNIT 99/99/9999	143658300	2,959	60,025	SH		DFND	2	60,025	0	0
CBRE GROUP INC	CL A	12504L109	236	5,900	SH		DFND	2	5,900	0	0
CELESTICA INC	SUB VTG SHS	15101Q108	3,853	440,000	SH		DFND	2	440,000	0	0
Cenovus Energy Inc	COM	15135U109	510	72,507	SH		DFND	1	72,507	0	0
CGI Group Inc. Cls A	CL A SUB VTG	39945C109	23,992	392,150	SH		DFND	1	392,150	0	0
CGI Group Inc. Cls A	CL A SUB VTG	39945C109	786	12,866	SH		DFND	2	12,866	0	0
CGI Group Inc. Cls A	CL A SUB VTG	39945C109	257	4,200	SH		DFND		4,200	0	0
CHEVRON CORP	COM	166764100	977	8,978	SH		DFND	2	8,978	0	0
Christopher & Banks Corp.	COM	171046105	110	236,000	SH		DFND	1	236,000	0	0
Citigroup Inc New	COM NEW	172967424	9,681	185,960	SH		DFND	1	185,960	0	0
Citigroup Inc New	COM NEW	172967424	141	2,712	SH		DFND	2	2,712	0	0
Comcast Corp Class A - New	CL A	20030N101	14,113	414,494	SH		DFND	1	414,494	0	0
Comcast Corp Class A - New	CL A	20030N101	2,834	83,205	SH		DFND	2	83,205	0	0
Constellation Brands Cl A	CL A	21036P108	7,117	44,253	SH		DFND	1	44,253	0	0
Constellation Brands Cl A	CL A	21036P108	1,205	7,490	SH		DFND	2	7,490	0	0
Costco Wholesale Corporation	COM	22160K105	792	3,890	SH		DFND	1	3,890	0	0
Costco Wholesale Corporation	COM	22160K105	2,342	11,493	SH		DFND	2	11,493	0	0
Cowen Group Inc - Cl A New	CL A NEW	223622606	6,422	481,375	SH		DFND	1	481,375	0	0
Cowen Group Inc - Cl A New	CL A NEW	223622606	95	7,150	SH		DFND	2	7,150	0	0
Crescent Point Energy Corp.	COM	22576C101	1,527	503,275	SH		DFND	1	503,275	0	0
Crescent Point Energy Corp.	COM	22576C101	507	167,392	SH		DFND		167,392	0	0
CVS HEALTH CORP	COM	126650100	282	4,300	SH		DFND	2	4,300	0	0
Danaher Corp	COM	235851102	1,604	15,561	SH		DFND	1	15,561	0	0
Danaher Corp	COM	235851102	1,048	10,156	SH		DFND	2	10,156	0	0
Deere & Co	COM	244199105	611	4,100	SH		DFND	1	4,100	0	0
Deere & Co	COM	244199105	2,029	13,600	SH		DFND	2	13,600	0	0
DESCARTES SYSTEMS	COM	249906108	3,720	141,000	SH		DFND	2	141,000	0	0
Diageo PLC SP/ADR - New	SPON ADR NEW	25243Q205	1,952	13,770	SH		DFND	1	13,770	0	0
Diageo PLC SP/ADR - New	SPON ADR NEW	25243Q205	1,457	10,275	SH		DFND	2	10,275	0	0
Discover Financial Svcs	COM	254709108	13,209	223,950	SH		DFND	1	223,950	0	0
Discover Financial Svcs	COM	254709108	202	3,425	SH		DFND	2	3,425	0	0
Discovery Comm Inc SRS A	COM SER A	25470F104	7,808	315,585	SH		DFND	1	315,585	0	0
Discovery Comm Inc SRS A	COM SER A	25470F104	124	5,000	SH		DFND	2	5,000	0	0
Dollar Tree Inc	COM	256746108	201	2,230	SH		DFND	1	2,230	0	0
Dollar Tree Inc	COM	256746108	325	3,600	SH		DFND	2	3,600	0	0
Dowdupont Inc	COM	26078J100	62	1,150	SH		DFND	1	1,150	0	0
Dowdupont Inc	COM	26078J100	4,118	76,996	SH		DFND	2	76,996	0	0
Eaton Corporation	SHS	G29183103	2,810	40,928	SH		DFND	2	40,928	0	0
ECOLAB INC	COM	278865100	1,208	8,200	SH		DFND	2	8,200	0	0
ELI LILLY & CO	COM	532457108	558	4,820	SH		DFND	2	4,820	0	0
Enbridge Inc	COM	29250N105	2,687	86,448	SH		DFND	1	86,448	0	0
Enbridge Inc	COM	29250N105	1,652	53,175	SH		DFND	2	53,175	0	0
Encana Corporation	COM	292505104	351	60,866	SH		DFND	1	60,866	0	0
Encompass Health Corp	COM	29261A100	10,244	166,026	SH		DFND	1	166,026	0	0
Encompass Health Corp	COM	29261A100	185	3,001	SH		DFND	2	3,001	0	0
ENERPLUS CORP	COM	292766102	2,787	358,400	SH		DFND	2	358,400	0	0
ENERPLUS CORP	COM	292766102	595	76,500	SH		DFND		76,500	0	0
Equinix Inc	COM PAR $0.001	29444U700	476	1,350	SH		DFND	2	1,350	0	0
ESTEE LAUDER CO	CL A	518439104	504	3,872	SH		DFND	2	3,872	0	0
First Republic Bank	COM	33616C100	91	1,050	SH		DFND	1	1,050	0	0
First Republic Bank	COM	33616C100	4,871	56,048	SH		DFND	2	56,048	0	0
FIRSTSERVICE CORP	SUB VTG SHS	33767E103	6,277	91,500	SH		DFND	2	91,500	0	0
Fomento Econ Mex Spn Adr	COM	344419106	1,119	13,000	SH		DFND	2	13,000	0	0
FORTIS INC	COM	349553107	870	26,100	SH		DFND		26,100	0	0
GENERAL MILLS INC	COM	370334104	1,816	46,631	SH		DFND	2	46,631	0	0
GLOBAL WATER RESOURC	COM	379463102	2,689	264,000	SH		DFND	2	264,000	0	0
Halliburton Co	COM	406216101	69	2,606	SH		DFND	1	2,606	0	0
Halliburton Co	COM	406216101	306	11,500	SH		DFND	2	11,500	0	0
Hanesbrands Inc	COM	410345102	895	71,400	SH		DFND	1	71,400	0	0
HDFC Bank Ltd ADR	COM	40415F101	642	6,200	SH		DFND	2	6,200	0	0
Home Depot Inc	COM	437076102	77	450	SH		DFND	1	450	0	0
Home Depot Inc	COM	437076102	1,714	9,974	SH		DFND	2	9,974	0	0
Honeywell Intl Inc	COM	438516106	2,220	16,800	SH		DFND	1	16,800	0	0
Honeywell Intl Inc	COM	438516106	1,514	11,455	SH		DFND	2	11,455	0	0
HP Inc	COM	40434L105	23,455	1,146,394	SH		DFND	1	1,146,394	0	0
HP Inc	COM	40434L105	920	44,947	SH		DFND	2	44,947	0	0
HUDBAY MINERALS	COM	443628102	3,704	783,100	SH		DFND	2	783,100	0	0
HUDBAY MINERALS	COM	443628102	73	15,400	SH		DFND		15,400	0	0
Imperial Oil Limited	COM	453038408	22,337	881,340	SH		DFND	1	881,340	0	0
Imperial Oil Limited	COM	453038408	462	18,219	SH		DFND	2	18,219	0	0
INTEL CORP	COM	458140100	375	8,000	SH		DFND	2	8,000	0	0
INVESCO EXCHNG TRADE	SR LN ETF	46138G508	1,825	83,800	SH		DFND	2	83,800	0	0
Ishares JPM USD Emrg Mkt	COM	464288281	241	2,324	SH		DFND	2	2,324	0	0
ISHARES TR	IBOXX HI YD ETF	464288513	1,071	13,200	SH		DFND	2	13,200	0	0
J.P. Morgan Chase&Company	COM	46625H100	35,441	363,049	SH		DFND	1	363,049	0	0
J.P. Morgan Chase&Company	COM	46625H100	7,668	78,545	SH		DFND	2	78,545	0	0
Johnson & Johnson	COM	478160104	11,892	92,150	SH		DFND	1	92,150	0	0
Johnson & Johnson	COM	478160104	7,222	55,963	SH		DFND	2	55,963	0	0
Kimberly Clark Corp	COM	494368103	638	5,600	SH		DFND	2	5,600	0	0
KIRKLAND LAKE GOLD	COM	49741E100	521	20,000	SH		DFND		20,000	0	0
Kohl's Corp.	COM	500255104	6,460	97,375	SH		DFND	1	97,375	0	0
Kohl's Corp.	COM	500255104	96	1,440	SH		DFND	2	1,440	0	0
Kraneshr Tr MSCI One Belt ETF	COM	500767868	136	6,280	SH		DFND	2	6,280	0	0
Lockheed Martin Corp	COM	539830109	758	2,897	SH		DFND	2	2,897	0	0
Lyondellbasell Indus A NV	COM	N53745100	20,452	245,941	SH		DFND	1	245,941	0	0
Lyondellbasell Indus A NV	COM	N53745100	391	4,703	SH		DFND	2	4,703	0	0
Mastercard Inc Cl-A	COM	57636Q104	723	3,835	SH		DFND	1	3,835	0	0
Mastercard Inc Cl-A	COM	57636Q104	1,376	7,290	SH		DFND	2	7,290	0	0
McDonalds Corporation	COM	580135101	841	4,738	SH		DFND	2	4,738	0	0
Mcewen Mining Inc	COM	58039P107	18	10,000	SH		DFND	1	10,000	0	0
Medtronic Inc	SHS	G5960L103	9	100	SH		DFND	1	100	0	0
Medtronic Inc	SHS	G5960L103	3,565	39,188	SH		DFND	2	39,188	0	0
METHANEX CORP	COM	59151K108	442	9,200	SH		DFND		9,200	0	0
Metlife Inc	COM	59156R108	8,690	211,650	SH		DFND	1	211,650	0	0
Metlife Inc	COM	59156R108	143	3,475	SH		DFND	2	3,475	0	0
Microsoft Corporation	COM	594918104	21,588	212,545	SH		DFND	1	212,545	0	0
Microsoft Corporation	COM	594918104	7,215	71,024	SH		DFND	2	71,024	0	0
Moody's Corp	COM	615369105	571	4,074	SH		DFND	2	4,074	0	0
Nike Inc Class B	COM	654106103	59	800	SH		DFND	1	800	0	0
Nike Inc Class B	CLASS B	654106103	460	6,209	SH		DFND	2	6,209	0	0
NORTH AMERICAN CONST	COM	656811106	4,508	506,700	SH		DFND	2	506,700	0	0
NORTH AMERICAN CONST	COM	656811106	453	50,900	SH		DFND		50,900	0	0
NUTRIEN LTD	COM	67077M108	761	16,200	SH		DFND		16,200	0	0
OPEN TEXT CORP	COM	683715106	639	19,600	SH		DFND		19,600	0	0
Open Text Corporation	COM	683715106	4	100	SH		DFND	1	100	0	0
Owens Illinois Inc	COM	690768403	9,266	537,450	SH		DFND	1	537,450	0	0
Owens Illinois Inc	COM	690768403	149	8,650	SH		DFND	2	8,650	0	0
Palo Alto Networks Inc	COM	697435105	264	1,400	SH		DFND	2	1,400	0	0
Parker-Hannifin Corp	COM	701094104	195	1,305	SH		DFND	1	1,305	0	0
Parker-Hannifin Corp	COM	701094104	492	3,300	SH		DFND	2	3,300	0	0
Paychex Inc	COM	704326107	391	6,000	SH		DFND	2	6,000	0	0
Pembina Pipeline Corp	COM	706327103	24,520	826,079	SH		DFND	1	826,079	0	0
Pembina Pipeline Corp	COM	706327103	405	13,644	SH		DFND	2	13,644	0	0
Pepsico Inc	COM	713448108	1,635	14,800	SH		DFND	2	14,800	0	0
PerkinElmer Inc	COM	714046109	628	8,000	SH		DFND	2	8,000	0	0
PERKINELMER INC	COM	714046109	2,108	26,833	SH		DFND	2	26,833	0	0
Philip Morris Intl Inc	COM	718172109	6,267	93,875	SH		DFND	1	93,875	0	0
Philip Morris Intl Inc	COM	718172109	680	10,195	SH		DFND	2	10,195	0	0
Phillips 66	COM	718546104	715	8,300	SH		DFND	2	8,300	0	0
Precision Drilling Corp	COM	74022D308	584	336,020	SH		DFND	1	336,020	0	0
PRETIUM RESOURCES	COM	74139C102	680	80,300	SH		DFND		80,300	0	0
PROGRESSIVE CORP	COM	743315103	217	3,600	SH		DFND	2	3,600	0	0
Putnam Premiur Income Trust	COM	746853100	47	10,000	SH		DFND	1	10,000	0	0
Raytheon Co	COM	755111507	13,616	88,790	SH		DFND	1	88,790	0	0
Raytheon Co	COM	755111507	997	6,499	SH		DFND	2	6,499	0	0
Rogers Communications - B-NVS	CLASS B	775109200	9,543	186,172	SH		DFND	1	186,172	0	0
Rogers Communications - B-NVS	CLASS B	775109200	179	3,488	SH		DFND	2	3,488	0	0
Rogers Communications - B-NVS	CLASS B	775109200	353	6,900	SH		DFND		6,900	0	0
Roper Technologies Inc	COM	776696106	400	1,500	SH		DFND	2	1,500	0	0
Ross Stores Inc	COM	778296103	1,042	12,530	SH		DFND	1	12,530	0	0
Ross Stores Inc	COM	778296103	898	10,790	SH		DFND	2	10,790	0	0
Royal Bank of Canada	COM	780087102	22,730	332,000	SH		DFND	1	332,000	0	0
Royal Bank of Canada	COM	780087102	6,376	93,163	SH		DFND	2	93,163	0	0
Royal Bank of Canada	COM	780087102	1,375	20,105	SH		DFND		20,105	0	0
Royal Dutch Shell Adr-B	COM	780259107	1,460	24,350	SH		DFND	2	24,350	0	0
S & P Global Inc	COM	78409V104	1,345	7,912	SH		DFND	1	7,912	0	0
S & P Global Inc	COM	78409V104	1,858	10,935	SH		DFND	2	10,935	0	0
Schwab Charles Corp	COM	808513105	302	7,275	SH		DFND	1	7,275	0	0
Schwab Charles Corp	COM	808513106	1,050	25,275	SH		DFND	2	25,275	0	0
Schwabb U.S. Tips ETF	US TIPS ETF	808524870	222	4,160	SH		DFND	2	4,160	0	0
Selctr Hlth Care SPDR	COM	81369Y209	803	9,281	SH		DFND	1	9,281	0	0
Shaw Communications-B NVS	COM	82028K200	16,015	884,505	SH		DFND	1	884,505	0	0
Shaw Communications-B NVS	COM	82028K200	511	28,250	SH		DFND	2	28,250	0	0
SHERWIN WILLIAMS CO	COM	824348106	488	1,240	SH		DFND	2	1,240	0	0
SPDR Barclays H/Y Bnd ETF	BLOOMBERG BRCLYS	78464A417	316	9,400	SH		DFND	2	9,400	0	0
SPDR Gold Trust ETF	COM	78463V107	235	1,941	SH		DFND	2	1,941	0	0
SPDR SER TR	BLOOMBERG SRT TR	78468R408	1,804	69,300	SH		DFND	2	69,300	0	0
SPOTIFY TECHNOLOGY	SHS	L8681T102	1,048	9,230	SH		DFND	2	9,230	0	0
STANLEY BLACK&DECKR	COM	854502101	2,615	21,843	SH		DFND	2	21,843	0	0
Starbucks Corp	COM	855244109	26	400	SH		DFND	1	400	0	0
Starbucks Corp	COM	855244109	2,558	39,722	SH		DFND	2	39,722	0	0
Stryker Corp	COM	863667101	1,578	10,069	SH		DFND	1	10,069	0	0
Sun Life Financial Services Canada Inc	COM	866796105	419	12,639	SH		DFND	1	12,639	0	0
Sun Life Financial Services Canada Inc	COM	866796105	448	13,500	SH		DFND		13,500	0	0
Suncor Energy Inc.	COM	867224107	19,211	687,581	SH		DFND	1	687,581	0	0
Suncor Energy Inc.	COM	867224107	2,411	86,333	SH		DFND	2	86,333	0	0
Suncor Energy Inc.	COM	867224107	126	4,509	SH		DFND		4,509	0	0
SUPERIOR PLUS	COM	86828P103	2,685	378,800	SH		DFND	2	378,800	0	0
Taiwan Semicon Man SP/ADR	COM	874039100	3,699	100,205	SH		DFND	1	100,205	0	0
Taiwan Semicon Man SP/ADR	COM	874039100	464	12,575	SH		DFND	2	12,575	0	0
Teck Resources Ltd B	CL B	878742204	280	13,000	SH		DFND	2	13,000	0	0
Telekomunikasi Indonesia Perse Adr	SPONSORED ADR	715684106	550	21,000	SH		DFND	2	21,000	0	0
Texas Instruments-Cum Rts	COM	882508104	4	40	SH		DFND	1	40	0	0
Texas Instruments-Cum Rts	COM	882508104	770	8,150	SH		DFND	2	8,150	0	0
Toronto Dominion Bank	COM NEW	891160509	26,931	541,624	SH		DFND	1	541,624	0	0
Toronto Dominion Bank	COM NEW	891160509	6,355	127,882	SH		DFND	2	127,882	0	0
Toronto Dominion Bank	COM NEW	891160509	1,247	25,100	SH		DFND		25,100	0	0
Townsquare Media Inc Cl A	CL A	892231101	41	10,000	SH		DFND	1	10,000	0	0
Toyota Motor Co Ltd ADR	SP ADR REP2COM	892331307	2,455	21,150	SH		DFND	1	21,150	0	0
Toyota Motor Co Ltd ADR	SP ADR REP2COM	892331307	78	675	SH		DFND	2	675	0	0
Transcanada Corp	COM	89353D107	925	25,884	SH		DFND	1	25,884	0	0
Transcanada Corp	COM	89353D107	1,592	44,600	SH		DFND		44,600	0	0
UBS Group AG	SHS	H42097107	222	17,925	SH		DFND	2	17,925	0	0
Union Pacific Corp	COM	907818108	469	3,395	SH		DFND	1	3,395	0	0
United Technologies Corp	COM	913017109	14,230	133,639	SH		DFND	1	133,639	0	0
United Technologies Corp	COM	913017109	5,203	48,866	SH		DFND	2	48,866	0	0
Unitedhealth Group Inc	COM	91324P102	19,835	79,621	SH		DFND	1	79,621	0	0
Unitedhealth Group Inc	COM	91324P102	3,557	14,277	SH		DFND	2	14,277	0	0
Verizon Communications	COM	92343V104	52	900	SH		DFND	1	900	0	0
Verizon Communications	COM	92343V104	390	6,940	SH		DFND	2	6,940	0	0
Vermilion Energy Inc	COM	923725105	5,536	262,706	SH		DFND	1	262,706	0	0
Vermilion Energy Inc	COM	923725105	1,529	72,550	SH		DFND	2	72,550	0	0
Visa Inc.	COM CL A	92826C839	18,888	143,159	SH		DFND	1	143,159	0	0
Visa Inc.	COM CL A	92826C839	3,816	28,929	SH		DFND	2	28,929	0	0
Wal Mart Stores Inc	COM	931142103	6,340	68,060	SH		DFND	1	68,060	0	0
Wal Mart Stores Inc	COM	931142103	610	6,550	SH		DFND	2	6,550	0	0
Walt Disney Co	COM	254687106	1,379	12,575	SH		DFND	2	12,575	0	0
WASTE CONNECTIONS	COM	94106B101	260	3,500	SH		DFND		3,500	0	0
WELLS FARGO & CO	COM	949746101	3,140	68,143	SH		DFND	2	68,143	0	0