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	40	500	SH		DFND	1	500	0	0
Abbott Laboratories	COM	002824100	248	3,100	SH		DFND	2	140	0	0
Accenture PLC Cl-A	SHS CLASS A	G1151C101	2,004	11,385	SH		DFND	1	415,250	0	0
Accenture PLC Cl-A	SHS CLASS A	G1151C101	6,199	35,217	SH		DFND	2	14,465	0	0
Alibaba Group ADR	SPONSORED ADS	01609W102	616	3,375	SH		DFND	1	73,105	0	0
Alibaba Group ADR	SPONSORED ADS	01609W102	6,212	34,050	SH		DFND	2	2,115	0	0
Alphabet Inc Cl A	CAP STK CL A	02079K305	1,362	1,157	SH		DFND	1	207,250	0	0
Alphabet Inc Cl A	CAP STK CL A	02079K305	5,959	5,063	SH		DFND	2	1,380	0	0
Alphabet Inc Cl C	CAP STK CL C	02079K107	23,836	20,315	SH		DFND	1	43	0	0
Alphabet Inc Cl C	CAP STK CL C	02079K107	1,924	1,640	SH		DFND	2	187	0	0
Altria Group Inc	COM	02209S103	551	9,600	SH		DFND	1	203,443	0	0
Altria Group Inc	COM	02209S103	387	6,741	SH		DFND	2	430	0	0
Amazon.com Inc	COM	023135106	712	400	SH		DFND	2	2,300	0	0
Amazon.com Inc	COM	023135106	116	65	SH		DFND	1	200	0	0
American Intl Group New	COM NEW	026874784	9,889	229,667	SH		DFND	1	3,375	0	0
American Intl Group New	COM NEW	026874784	160	3,710	SH		DFND	2	32,917	0	0
American Tower Corp	COM	03027X100	2,267	11,505	SH		DFND	2	51,749	0	0
Amgen Inc	COM	031162100	1	6	SH		DFND	1	263	0	0
Amgen Inc	COM	031162100	859	4,524	SH		DFND	2	13,820	0	0
ANHEUSER BUSCH INBEV	SPONSORED ADR	03524A108	2,562	30,506	SH		DFND	2	3,500	0	0
Apollo Investment Corp-New	COM NEW	03761U502	235	15,519	SH		DFND	1	85	0	0
Apple Inc	COM	037833100	11,757	61,897	SH		DFND	1	9,600	0	0
Apple Inc	COM	037833100	930	4,895	SH		DFND	2	329	0	0
Automatc Data Proc	COM	053015103	2,041	12,775	SH		DFND	2	484	0	0
AVERY DENNISON CORP	COM	053611109	226	2,000	SH		DFND	2	400	0	0
Bank of America	COM	060505104	13,831	501,288	SH		DFND	1	229,667	0	0
Bank of America	COM	060505104	183	6,650	SH		DFND	2	480	0	0
Bank of Montreal	COM	063671101	2,354	31,464	SH		DFND	1	11	0	0
BANK OF MONTREAL	COM	063671101	479	6,400	SH		DFND	2	3,710	0	0
BANK OF MONTREAL	COM	063671101	704	9,400	SH		DFND		9,400	0	0
Bank of Nova Scotia	COM	064149107	37,778	709,686	SH		DFND	1	21	0	0
Bank of Nova Scotia	COM	064149107	4,499	84,495	SH		DFND	2	2,805	0	0
Baxter International Inc	COM	071813109	17,579	216,196	SH		DFND	1	368	0	0
Baxter International Inc	COM	071813109	828	10,190	SH		DFND	2	1,674	0	0
BAYTEX ENERGY CORP	COM	07317Q105	961	565,379	SH		DFND	2	8,830	0	0
BCE Inc - New	COM NEW	05534B760	422	9,511	SH		DFND		22,500	0	0
BCE Inc - New	COM NEW	05534B760	1,217	27,407	SH		DFND	1	88,615	0	0
BCE Inc - New	COM NEW	05534B760	2,031	45,725	SH		DFND	2	9,169	0	0
Becton Dickinson & Co	COM	075887109	17,626	70,579	SH		DFND	1	125	0	0
Becton Dickinson & Co	COM	075887109	2,020	8,087	SH		DFND	2	495	0	0
Berkshire Hathaway B New	CL B NEW	084670702	445	2,216	SH		DFND	1	15,519	0	0
Berkshire Hathaway B New	CL B NEW	084670702	40	197	SH		DFND	2	4,400	0	0
Blackrock Inc	COM	09247X101	1	2	SH		DFND	1	3,724	0	0
Blackrock Inc	COM	09247X101	808	1,890	SH		DFND	2	506,700	0	0
Boeing Company	COM	097023105	2,583	6,772	SH		DFND	1	61,897	0	0
Boeing Company	COM	097023105	1,420	3,725	SH		DFND	2	315	0	0
Booking Holdings Inc	COM	09857L108	677	388	SH		DFND	2	85	0	0
Brighthouse Financial Inc	COM	10922N103	13,780	379,712	SH		DFND	1	535,500	0	0
Brighthouse Financial Inc	COM	10922N103	212	5,848	SH		DFND	2	8,650	0	0
Broadcom Ltd	COM	11135F101	1,604	5,335	SH		DFND	2	7,500	0	0
Broadridge Finl Solns Inc	COM	11133T103	765	7,375	SH		DFND	2	1,500	0	0
Brookfield Asset Mgt A LV	CL A LTD VT SH	112585104	36,924	792,573	SH		DFND	1	2	0	0
Brookfield Asset Mgt A LV	CL A LTD VT SH	112585104	4,290	92,068	SH		DFND	2	8,125	0	0
BRP INC	COM SUN VTG	05577W200	747	26,900	SH		DFND		45,800	0	0
CAMECO CORP	COM	13321L108	743	63,000	SH		DFND	2	12,344	0	0
Cameco Corporation	COM	13321L108	5	441	SH		DFND	1	1,516	0	0
Canadian Imperial Bank of Commerce	COM	136069101	276	3,492	SH		DFND	1	501,288	0	0
CANADIAN IMPERIAL BK	COM	136069101	427	5,400	SH		DFND	2	140	0	0
CANADIAN IMPERIAL BK	COM	136069101	41	518	SH		DFND		9,511	0	0
Canadian National Railway Company	COM	136375102	354	3,952	SH		DFND	1	31,464	0	0
Canadian National Railway Company	COM	136375102	1,285	14,350	SH		DFND	2	2,000	0	0
Canadian Natural Resources Limited	COM	136385101	1,246	45,392	SH		DFND	1	709,686	0	0
Canadian Pacific Railway Limited	COM	13645T100	128	622	SH		DFND	1	808,838	0	0
CARNIVAL CORP	UNIT 99/99/9999	143658300	3,044	60,025	SH		DFND	2	31,845	0	0
CDN NATL RAILWAY	COM	136375102	528	5,900	SH		DFND		26,900	0	0
CDN NATURAL RES	COM	136385101	687	25,000	SH		DFND	2	6,400	0	0
CDN PACIFIC RAILWAY	COM	13645T100	289	1,400	SH		DFND	2	5,575	0	0
CDN PACIFIC RAILWAY	COM	13645T100	474	2,300	SH		DFND		23,700	0	0
CELESTICA INC	SUB VTG SHS	15101Q108	4,031	477,000	SH		DFND	2	10,550	0	0
Cenovus Energy Inc	COM	15135U109	33	3,837	SH		DFND	1	2,247	0	0
Cenovus Energy Inc	COM	15135U109	509	58,636	SH		DFND	1	91,325	0	0
CGI INC	CL A SUB VTTG	12532H104	344	5,000	SH		DFND	2	2,500	0	0
Chevron Corp	COM	166764100	684	5,555	SH		DFND	1	550	0	0
Chevron Corp	COM	166764100	1,397	11,338	SH		DFND	2	52,650	0	0
Christopher & Banks Corp.	COM	171046105	80	236,000	SH		DFND	1	27	0	0
Citigroup Inc New	COM NEW	172967424	11,024	177,183	SH		DFND	1	216,196	0	0
Citigroup Inc New	COM NEW	172967424	169	2,712	SH		DFND	2	6,240	0	0
Cognizant Technology Solns - A	CL A	192446102	10,811	149,215	SH		DFND	1	500	0	0
Cognizant Technology Solns - A	CL A	192446102	499	6,885	SH		DFND	2	27,625	0	0
Comcast Corp Class A - New	CL A	20030N101	16,355	409,077	SH		DFND	1	500	0	0
Comcast Corp Class A - New	CL A	20030N101	3,970	99,305	SH		DFND	2	7,950	0	0
Constellation Brands Cl A	CL A	21036P108	14,415	82,219	SH		DFND	1	43	0	0
Constellation Brands Cl A	CL A	21036P108	1,791	10,215	SH		DFND	2	19,000	0	0
Costco Wholesale Corporation	COM	22160K105	2,059	8,505	SH		DFND	1	39	0	0
Costco Wholesale Corporation	COM	22160K105	3,534	14,593	SH		DFND	2	6,324	0	0
Cowen Group Inc - Cl A New	CL A NEW	223622606	6,814	470,250	SH		DFND	1	27,407	0	0
Cowen Group Inc - Cl A New	CL A NEW	223622606	104	7,150	SH		DFND	2	18,100	0	0
Crescent Point Energy Corp.	COM	22576C101	1,631	503,275	SH		DFND	1	47,009	0	0
CRESCENT POINT ENRGY	COM	22576C101	543	167,392	SH		DFND		600	0	0
Danaher Corp	COM	235851102	2,049	15,522	SH		DFND	1	2,216	0	0
DANAHER CORP	COM	235851102	1,303	9,866	SH		DFND	2	1,830	0	0
Deere & Co	COM	244199105	655	4,100	SH		DFND	1	1,800	0	0
Deere & Co	COM	244199105	2,893	18,100	SH		DFND	2	6,257	0	0
DESCARTES SYSTEMS	COM	249906108	5,127	141,000	SH		DFND	2	98	0	0
Diageo PLC SP/ADR - New	SPON ADR NEW	25243Q205	2,372	14,500	SH		DFND	1	5,000	0	0
Diageo PLC SP/ADR - New	SPON ADR NEW	25243Q205	1,767	10,800	SH		DFND	2	1,700	0	0
Discover Financial Svcs	COM	254709108	15,246	214,250	SH		DFND	1	6,772	0	0
Discover Financial Svcs	COM	254709108	244	3,425	SH		DFND	2	2,450	0	0
Discovery Comm Inc SRS A	COM SER A	25470F104	10,201	377,525	SH		DFND	1	3,115	0	0
Discovery Comm Inc SRS A	COM SER A	25470F104	150	5,550	SH		DFND	2	8,890	0	0
Dollar Tree Inc	COM	256746108	263	2,505	SH		DFND	1	379,712	0	0
DOLLAR TREE INC	COM	256746108	242	2,300	SH		DFND	2	1,275	0	0
DOMINOS PIZZA INC	COM	25754A201	284	1,100	SH		DFND	2	8,450	0	0
DOMTAR CORP	COM NEW	257559203	476	9,600	SH		DFND		7,200	0	0
Dowdupont Inc	COM	26078J100	65	1,214	SH		DFND	1	85,592	0	0
Dowdupont Inc	COM	26078J100	4,843	90,846	SH		DFND	2	79,125	0	0
EATON CORPORATION	SHS	G29183103	3,831	47,553	SH		DFND	2	115	0	0
Ecolab Inc	COM	278865100	1,011	5,725	SH		DFND	1	1,500	0	0
Ecolab Inc	COM	278865100	2,130	12,065	SH		DFND	2	375	0	0
Eli Lilly & Co	COM	532457108	92	707	SH		DFND	1	233	0	0
Eli Lilly & Co	COM	532457108	706	5,445	SH		DFND	2	7,150	0	0
Enbridge Inc	COM	29250N105	1,932	53,349	SH		DFND	1	39	0	0
Enbridge Inc	COM	29250N105	2,135	58,950	SH		DFND	2	2,300	0	0
Encana Corporation	COM	292505104	11	1,467	SH		DFND	1	792,573	0	0
Encana Corporation	COM	292505104	430	59,399	SH		DFND	1	3,218	0	0
ENCANA CORPORATION	COM	292505104	1,014	140,000	SH		DFND	2	5,848	0	0
ENERPLUS CORP	COM	292766102	3,016	359,700	SH		DFND	2	725	0	0
ENERPLUS CORP	COM	292766102	943	112,500	SH		DFND		518	0	0
EQUINIX INC	COM	29444U700	725	1,600	SH		DFND	2	2,345	0	0
First Republic Bank	COM	33616C100	1,469	14,625	SH		DFND	1	8,112	0	0
First Republic Bank	COM	33616C100	6,100	60,718	SH		DFND	2	19,900	0	0
FIRSTSERVICE CORP	SUB VTG SHS	33767E103	8,154	91,500	SH		DFND	2	300	0	0
FOMENTO ECON MEXI	SPON ADR UNITS	344419106	747	8,100	SH		DFND	2	1,185	0	0
FORTIS INC	COM	349553107	303	8,200	SH		DFND		5,900	0	0
GCI LIBERTY INC	COM CLASS A	36164V305	667	12,000	SH		DFND	2	6,000	0	0
GENERAL MILLS INC	COM	370334104	2,101	40,591	SH		DFND	2	55,375	0	0
GILDAN ACTIVEWEAR	COM	375916103	306	8,500	SH		DFND		2,300	0	0
GLOBAL WATER RESOURC	COM	379463102	2,346	236,500	SH		DFND	2	63,000	0	0
HDFC Bank Ltd ADR	SPONSORED ADS	40415F101	264	2,275	SH		DFND	1	408	0	0
HDFC Bank Ltd ADR	SPONSORED ADS	40415F101	4,750	40,975	SH		DFND	2	49,900	0	0
Home Depot Inc	COM	437076102	888	4,630	SH		DFND	1	5,555	0	0
Home Depot Inc	COM	437076102	2,554	13,309	SH		DFND	2	3,350	0	0
Honeywell Intl Inc	COM	438516106	11,090	69,781	SH		DFND	1	236,000	0	0
Honeywell Intl Inc	COM	438516106	1,843	11,595	SH		DFND	2	11,000	0	0
HUDBAY MINERALS	COM	443628102	5,598	783,100	SH		DFND	2	1,400	0	0
HUDBAY MINERALS	COM	443628102	104	14,600	SH		DFND		167,392	0	0
Hudson Ltd Cl-A	COM CL A	G46408103	4,702	341,991	SH		DFND	1	136,959	0	0
Hudson Ltd Cl-A	COM CL A	G46408103	85	6,200	SH		DFND	2	2,050	0	0
Imperial Oil Limited	COM NEW	453038408	24,099	882,855	SH		DFND	1	1,500	0	0
Imperial Oil Limited	COM NEW	453038408	463	16,969	SH		DFND	2	380	0	0
INTERACTIVE BROKERS	COM CL A	45841N107	1,089	21,000	SH		DFND	2	9,730	0	0
INVESCO EXCHNG TRADE	SR LN ETF	46138G508	1,786	78,900	SH		DFND	2	31,087	0	0
Ishares Iboxx $ Hi Yld Bd	IBOXX HI YD ETF	464288513	1,081	12,500	SH		DFND	2	1,200	0	0
Ishares JPM USD Emrg Mkt	JPMORGAN USD EMG	464288281	12	110	SH		DFND	1	149,215	0	0
Ishares JPM USD Emrg Mkt	JPMORGAN USD EMG	464288281	261	2,370	SH		DFND	2	6,218	0	0
J.P. Morgan Chase&Company	COM	46625H100	34,762	343,394	SH		DFND	1	395	0	0
J.P. Morgan Chase&Company	COM	46625H100	7,007	69,220	SH		DFND	2	30,438	0	0
Johnson & Johnson	COM	478160104	1,928	13,789	SH		DFND	1	409,077	0	0
Johnson & Johnson	COM	478160104	7,521	53,798	SH		DFND	2	4,100	0	0
Kimberly Clark Corp	COM	494368103	1	11	SH		DFND	1	470,250	0	0
Kimberly Clark Corp	COM	494368103	910	7,350	SH		DFND	2	48,650	0	0
KIRKLAND LAKE GOLD	COM	49741E100	718	23,600	SH		DFND		14,600	0	0
Kohl's Corp.	COM	500255104	6,556	95,325	SH		DFND	1	503,275	0	0
Kohl's Corp.	COM	500255104	99	1,440	SH		DFND	2	5,600	0	0
Kraneshr Tr MSCI One Belt ETF	MSCI ONE BELT	500767868	1	45	SH		DFND	1	15,522	0	0
Kraneshr Tr MSCI One Belt ETF	MSCI ONE BELT	500767868	297	12,565	SH		DFND	2	4,615	0	0
Lauder Estee Co Ltd Cl A	CL A	518439104	716	4,325	SH		DFND	1	4,100	0	0
Lauder Estee Co Ltd Cl A	CL A	518439104	1,344	8,117	SH		DFND	2	11,603	0	0
LOCKHEED MARTIN CORP	COM	539830109	861	2,867	SH		DFND	2	4,125	0	0
Lyondellbasell Indus A NV	SHS A	N53745100	14,353	170,702	SH		DFND	1	952	0	0
Lyondellbasell Indus A NV	SHS A	N53745100	259	3,078	SH		DFND	2	135	0	0
Magna International Inc	COM	559222401	4	89	SH		DFND	1	14,500	0	0
Magna International Inc	COM	559222401	614	12,600	SH		DFND		9,600	0	0
Manulife Financial Corporation	COM	56501R106	107	6,328	SH		DFND	1	0	0	0
Manulife Financial Corporation	COM	56501R106	215	12,700	SH		DFND		20,905	0	0
Markel Corp Holding	COM	570535104	299	300	SH		DFND	2	141,000	0	0
Markel Corp Holding	COM	570535104	100	100	SH		DFND	1	214,250	0	0
Mastercard Inc Cl-A	CL A	57636Q104	903	3,835	SH		DFND	1	400	0	0
Mastercard Inc Cl-A	CL A	57636Q104	1,346	5,715	SH		DFND	2	95,125	0	0
McDonalds Corporation	COM	580135101	948	4,988	SH		DFND	2	3,425	0	0
Mcewen Mining Inc	COM	58039P107	15	10,000	SH		DFND	1	10,051	0	0
Medtronic PLC	SHS	G5960L103	6,658	73,105	SH		DFND	1	10	0	0
Medtronic PLC	SHS	G5960L103	3,686	40,468	SH		DFND	2	950	0	0
Metlife Inc	COM	59156R108	8,823	207,250	SH		DFND	1	678,436	0	0
Metlife Inc	COM	59156R108	148	3,475	SH		DFND	2	5,275	0	0
Microsoft Corporation	COM	594918104	23,994	203,443	SH		DFND	1	2,505	0	0
Microsoft Corporation	COM	594918104	8,437	71,539	SH		DFND	2	2,300	0	0
Moody's Corp	COM	615369105	634	3,500	SH		DFND	2	1,100	0	0
Moody's Corp	COM	615369105	15	85	SH		DFND	1	5,725	0	0
Nike Inc Class B	CL B	654106103	7,462	88,615	SH		DFND	1	707	0	0
Nike Inc Class B	CL B	654106103	1,516	17,999	SH		DFND	2	8,650	0	0
NORTH AMERICAN CONST	COM	656811106	5,886	506,700	SH		DFND	2	3,765	0	0
NORTH AMERICAN CONST	COM	656811106	926	79,700	SH		DFND		112,500	0	0
NUTRIEN LTD	COM	67077M108	1,195	22,650	SH		DFND	2	21,300	0	0
NUTRIEN LTD	COM	67077M108	770	14,600	SH		DFND		143,100	0	0
OPEN TEXT CORP	COM	683715106	361	9,400	SH		DFND	2	8,300	0	0
OPEN TEXT CORP	COM	683715106	864	22,500	SH		DFND		8,200	0	0
Open Text Corporation	COM	683715106	143	3,724	SH		DFND	1	59,399	0	0
Owens Illinois Inc	COM NEW	690768403	10,164	535,500	SH		DFND	1	75	0	0
Owens Illinois Inc	COM NEW	690768403	164	8,650	SH		DFND	2	265	0	0
PALO ALTO NETWORKS	COM	697435105	364	1,500	SH		DFND	2	40,525	0	0
PARKER HANNIFIN CORP	COM	701094104	317	1,850	SH		DFND	2	140,000	0	0
Parker-Hannifin Corp	COM	701094104	260	1,516	SH		DFND	1	300	0	0
PAYCHEX INC	COM	704326107	602	7,500	SH		DFND	2	359,700	0	0
PAYPAL HLDGS INC	COM	70450Y103	260	2,500	SH		DFND	2	4,215	0	0
Pembina Pipeline Corp	COM	706327103	29,711	808,838	SH		DFND	1	20	0	0
Pembina Pipeline Corp	COM	706327103	453	12,344	SH		DFND	2	315	0	0
Pepsico Inc	COM	713448108	1,976	16,125	SH		DFND	2	1,600	0	0
PERKINELMER INC	COM	714046109	3,309	34,343	SH		DFND	2	155	0	0
Philip Morris Intl Inc	COM	718172109	8,072	91,325	SH		DFND	1	50	0	0
Philip Morris Intl Inc	COM	718172109	693	7,845	SH		DFND	2	51,608	0	0
Phillips 66	COM	718546104	222	2,330	SH		DFND	1	1,000	0	0
Phillips 66	COM	718546104	1,097	11,525	SH		DFND	2	91,500	0	0
Precision Drilling Corp	COM	74022D308	112	47,009	SH		DFND	1	65,725	0	0
PRETIUM RESOURCES	COM	74139C102	392	45,800	SH		DFND		16,200	0	0
PROGRESSIVE CORP	COM	743315103	360	5,000	SH		DFND	2	1,679	0	0
Progressive Corp Ohio	COM	743315103	225	3,115	SH		DFND	1	200	0	0
PT TELEKOMUNIKAS IND	SPONSORED ADR	715684106	522	19,000	SH		DFND	2	610	0	0
Raytheon Co	COM NEW	755111507	15,585	85,592	SH		DFND	1	19	0	0
Raytheon Co	COM NEW	755111507	1,151	6,324	SH		DFND	2	150	0	0
Rogers Communications - B-NVS	CL B	775109200	10,300	191,523	SH		DFND	1	7	0	0
Rogers Communications - B-NVS	CL B	775109200	473	8,788	SH		DFND	2	160	0	0
Rogers Communications - B-NVS	CL B	775109200	1,275	23,700	SH		DFND		8,500	0	0
ROPER TECHNOLOGIES	COM	776696106	581	1,700	SH		DFND	2	40,591	0	0
Ross Stores Inc	COM	778296103	1,173	12,599	SH		DFND	1	695	0	0
Ross Stores Inc	COM	778296103	1,615	17,340	SH		DFND	2	310	0	0
Ross Stores Inc	COM	778296103	56	600	SH		DFND		14,600	0	0
Royal Bank of Canada	COM	780087102	1,578	20,905	SH		DFND		23,600	0	0
Royal Bank of Canada	COM	780087102	24,938	330,556	SH		DFND	1	600	0	0
Royal Bank of Canada	COM	780087102	7,288	96,588	SH		DFND	2	170	0	0
S & P Global Inc	COM	78409V104	1,708	8,112	SH		DFND	1	1,694	0	0
S & P Global Inc	COM	78409V104	2,098	9,965	SH		DFND	2	20,457	0	0
Schwab Charles Corp	COM	808513105	311	7,275	SH		DFND	1	2,557	0	0
Shaw Communications-B NVS	CL B CONV	82028K200	18,985	912,300	SH		DFND	1	10,000	0	0
Shaw Communications-B NVS	CL B CONV	82028K200	690	33,150	SH		DFND	2	36,021	0	0
SHERWIN WILLIAMS CO	COM	824348106	405	940	SH		DFND	2	8,183	0	0
SILVERCORP METALS	COM	82835P103	367	143,100	SH		DFND		1,209	0	0
SPDR SER TR	BLOOMBERG SRT TR	78468R408	1,360	49,900	SH		DFND	2	150	0	0
SPOTIFY TECHNOLOGY	SHS	L8681T102	1,294	9,320	SH		DFND	2	5,425	0	0
STANLEY BLACK&DECKR	COM	854502101	2,974	21,843	SH		DFND	2	9,575	0	0
Starbucks Corp	COM	855244109	30	400	SH		DFND	1	2,275	0	0
Starbucks Corp	COM	855244109	3,034	40,817	SH		DFND	2	2,020	0	0
Stryker Corp	COM	863667101	1,985	10,051	SH		DFND	1	4,630	0	0
Sun Life Financial Services Canada Inc	COM	866796105	492	12,819	SH		DFND	1	69,781	0	0
SUN LIFE FNCL INC	COM	866796105	623	16,200	SH		DFND		12,600	0	0
Suncor Energy Inc	COM	867224107	149	4,600	SH		DFND	1	341,991	0	0
Suncor Energy Inc.	COM	867224107	39	1,209	SH		DFND		12,700	0	0
Suncor Energy Inc.	COM	867224107	21,987	678,436	SH		DFND	1	882,855	0	0
Suncor Energy Inc.	COM	867224107	2,629	81,113	SH		DFND	2	6,200	0	0
Taiwan Semicon Man SP/ADR	SPONSORED ADR	874039100	744	18,155	SH		DFND	1	50	0	0
Taiwan Semicon Man SP/ADR	SPONSORED ADR	874039100	3,896	95,125	SH		DFND	2	78,900	0	0
Targa Resources Corp	COM	87612G101	2,731	65,725	SH		DFND	1	26,044	0	0
Targa Resources Corp	COM	87612G101	47	1,125	SH		DFND	2	6,722	0	0
TECK RESOURCES LTD	CL B	878742204	315	13,600	SH		DFND	2	572	0	0
Texas Instruments-Cum Rts	COM	882508104	4	40	SH		DFND	1	110	0	0
Texas Instruments-Cum Rts	COM	882508104	865	8,150	SH		DFND	2	298	0	0
THE CHARLES SCHWAB	COM	808513105	911	21,300	SH		DFND	2	36,975	0	0
TJX Companies Inc-New	COM	872540109	10,774	202,490	SH		DFND	1	1,200	0	0
TJX Companies Inc-New	COM	872540109	543	10,215	SH		DFND	2	21,000	0	0
Toronto Dominion Bank	COM NEW	891160509	35,690	657,705	SH		DFND	1	343,394	0	0
Toronto Dominion Bank	COM NEW	891160509	7,127	131,307	SH		DFND	2	2,370	0	0
Toronto Dominion Bank	COM NEW	891160509	1,097	20,200	SH		DFND		79,700	0	0
Townsquare Media Inc Cl A	CL A	892231101	57	10,000	SH		DFND	1	13,789	0	0
Toyota Motor Co Ltd ADR	SP ADR REP2COM	892331307	188	1,590	SH		DFND	1	26	0	0
Toyota Motor Co Ltd ADR	SP ADR REP2COM	892331307	2,369	20,075	SH		DFND	2	397	0	0
Transcanada Corp	COM	89353D107	1,170	26,044	SH		DFND	1	3,395	0	0
Transcanada Corp	COM	89353D107	1,060	23,600	SH		DFND		20,200	0	0
UBS Group AG	SHS	H42097107	258	21,325	SH		DFND	2	450	0	0
Union Pacific Corp	COM	907818108	568	3,395	SH		DFND	1	12	0	0
United Technologies Corp	COM	913017109	16,206	125,737	SH		DFND	1	95,325	0	0
United Technologies Corp	COM	913017109	6,141	47,641	SH		DFND	2	16,660	0	0
Unitedhealth Group Inc	COM	91324P102	19,497	78,851	SH		DFND	1	125,737	0	0
Unitedhealth Group Inc	COM	91324P102	3,589	14,517	SH		DFND	2	1,000	0	0
Vanguard FTSE Emerg Mkt	FTSE EMR MKT ETF	922042858	1	25	SH		DFND	1	523	0	0
Vanguard FTSE Emerg Mkt	FTSE EMR MKT ETF	922042858	305	7,171	SH		DFND	2	40,673	0	0
Vanguard Small-Cap ETF	SMALL CP ETF	922908751	1	5	SH		DFND	1	4,325	0	0
Vanguard Small-Cap ETF	SMALL CP ETF	922908751	237	1,549	SH		DFND	2	2,625	0	0
Verizon Communications	COM	92343V104	55	937	SH		DFND	1	25	0	0
Verizon Communications	COM	92343V104	300	5,070	SH		DFND	2	4,475	0	0
Vermilion Energy Inc	COM	923725105	10,251	415,250	SH		DFND	1	4	0	0
Vermilion Energy Inc	COM	923725105	1,976	80,050	SH		DFND	2	4,725	0	0
Visa Inc.	COM CL A	92826C839	21,392	136,959	SH		DFND	1	47	0	0
Visa Inc.	COM CL A	92826C839	4,126	26,417	SH		DFND	2	30,100	0	0
Walmart Inc.	COM	931142103	6,600	67,671	SH		DFND	1	89	0	0
Walmart Inc.	COM	931142103	293	3,000	SH		DFND	2	3,955	0	0
Walt Disney Co	COM DISNEY	254687106	5	41	SH		DFND	1	500	0	0
Walt Disney Co	COM DISNEY	254687106	1,236	11,125	SH		DFND	2	690	0	0
WASTE CONNECTIONS	COM	94106B101	292	3,300	SH		DFND		23,600	0	0
Wells Fargo & Co	COM	949746101	0	10	SH		DFND	1	6,328	0	0
WELLS FARGO & CO	COM	949746101	3,333	68,983	SH		DFND	2	5,180	0	0
YUM! Brands Inc.	COM	988498101	828	8,300	SH		DFND	2	291	0	0