# EDGAR Filing Document

**Accession Number:** 0002033536
**File Stem:** 0002033536-25-000022
**Filing Date:** 2025-7
**Character Count:** 25851
**Document Hash:** 7d2852fcee0f5a2574e5f330dabaa76e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002033536-25-000022.hdr.sgml**: 20250708

**ACCESSION NUMBER**: 0002033536-25-000022

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20130630

**FILED AS OF DATE**: 20250708

**DATE AS OF CHANGE**: 20250708

**EFFECTIVENESS DATE**: 20250708

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Northwest & Ethical Investments L.P.
- **CENTRAL INDEX KEY:** 0002033536

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A6
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-24321
- **FILM NUMBER:** 251110332

**BUSINESS ADDRESS:**
- **STREET 1:** 151 YONGE STREET
- **STREET 2:** SUITE 1200
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5C 2W7
- **BUSINESS PHONE:** 4165946633

**MAIL ADDRESS:**
- **STREET 1:** 151 YONGE STREET
- **STREET 2:** SUITE 1200
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5C 2W7

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2013

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Northwest  Ethical Investments L.P.<br>**Address:** 151 YONGE STREET<br>SUITE 1200<br>TORONTO, A6 M5C 2W7

**Form 13F File Number:** 028-24321

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** John H. Bai<br>**Title:** SVP Chief Financial Officer and Chief Administrative Office<br>**Phone:** 6472899343

**Signature, Place, and Date of Signing:**

John H. Bai  Toronto, A6  07-02-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 228

**Form 13F Information Table Value Total:** $1274581618

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ABM INDS INC | COM | 000957100 |  | 816672 | 33320 | SH |  | SOLE |  | 33320 | 0 | 0 |
| ALAMOS GOLD INC | COM | 011527108 |  | 7763842 | 640611 | SH |  | SOLE |  | 640611 | 0 | 0 |
| ALERE INC | COM | 01449J105 |  | 4510203 | 184090 | SH |  | SOLE |  | 184090 | 0 | 0 |
| ALEXANDRIA REAL ESTATE EQ IN | COM | 015271109 |  | 604623 | 9200 | SH |  | SOLE |  | 9200 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 4354097 | 58241 | SH |  | SOLE |  | 58241 | 0 | 0 |
| AMERICAN INTL GROUP INC | COM NEW | 026874784 |  | 3388259 | 75800 | SH |  | SOLE |  | 75800 | 0 | 0 |
| AMERIGAS PARTNERS L P | UNIT L P INT | 030975106 |  | 1038770 | 21015 | SH |  | SOLE |  | 21015 | 0 | 0 |
| APACHE CORP | COM | 037411105 |  | 2407597 | 28720 | SH |  | SOLE |  | 28720 | 0 | 0 |
| ATLANTIC TELE NETWORK INC | COM NEW | 049079205 |  | 354074 | 7130 | SH |  | SOLE |  | 7130 | 0 | 0 |
| AUTODESK INC | COM | 052769106 |  | 2039793 | 60100 | SH |  | SOLE |  | 60100 | 0 | 0 |
| AVISTA CORP | COM | 05379B107 |  | 979473 | 36250 | SH |  | SOLE |  | 36250 | 0 | 0 |
| BCE INC | COM NEW | 05534B760 |  | 31558652 | 769355 | SH |  | SOLE |  | 769355 | 0 | 0 |
| BP PLC | SPONSORED ADR | 055622104 |  | 2651991 | 63536 | SH |  | SOLE |  | 63536 | 0 | 0 |
| BANCO BRADESCO S A | SP ADR PFD NEW | 059460303 |  | 257896 | 19823 | SH |  | SOLE |  | 19823 | 0 | 0 |
| BANK OF AMERICA CORPORATION | COM | 060505104 |  | 8744798 | 680000 | SH |  | SOLE |  | 680000 | 0 | 0 |
| BANK N S HALIFAX | COM | 064149107 |  | 49883981 | 932733 | SH |  | SOLE |  | 932733 | 0 | 0 |
| BARRICK GOLD CORP | COM | 067901108 |  | 4709567 | 298236 | SH |  | SOLE |  | 298236 | 0 | 0 |
| BAYTEX ENERGY CORP | COM | 07317Q105 |  | 653296 | 18120 | SH |  | SOLE |  | 18120 | 0 | 0 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 3997177 | 40445 | SH |  | SOLE |  | 40445 | 0 | 0 |
| BEMIS INC | COM | 081437105 |  | 18464685 | 471760 | SH |  | SOLE |  | 471760 | 0 | 0 |
| BIOMED REALTY TRUST INC | COM | 09063H107 |  | 617014 | 30500 | SH |  | SOLE |  | 30500 | 0 | 0 |
| BJS RESTAURANTS INC | COM | 09180C106 |  | 1570441 | 42330 | SH |  | SOLE |  | 42330 | 0 | 0 |
| BLACKROCK INC | COM | 09247X101 |  | 1437074 | 5595 | SH |  | SOLE |  | 5595 | 0 | 0 |
| BLACKSTONE GROUP L P | COM UNIT LTD | 09253U108 |  | 1566864 | 74400 | SH |  | SOLE |  | 74400 | 0 | 0 |
| BOB EVANS FARMS INC | COM | 096761101 |  | 1432889 | 30500 | SH |  | SOLE |  | 30500 | 0 | 0 |
| C H ROBINSON WORLDWIDE INC | COM NEW | 12541W209 |  | 3194465 | 56730 | SH |  | SOLE |  | 56730 | 0 | 0 |
| CIGNA CORPORATION | COM | 125509109 |  | 3001085 | 41400 | SH |  | SOLE |  | 41400 | 0 | 0 |
| CME GROUP INC | COM | 12572Q105 |  | 2037402 | 26815 | SH |  | SOLE |  | 26815 | 0 | 0 |
| CSX CORP | COM | 126408103 |  | 10271430 | 442925 | SH |  | SOLE |  | 442925 | 0 | 0 |
| CVS CAREMARK CORPORATION | COM | 126650100 |  | 8113840 | 141900 | SH |  | SOLE |  | 141900 | 0 | 0 |
| CA INC | COM | 12673P105 |  | 1642645 | 57375 | SH |  | SOLE |  | 57375 | 0 | 0 |
| CAMECO CORP | COM | 13321L108 |  | 4291590 | 207800 | SH |  | SOLE |  | 207800 | 0 | 0 |
| CAMERON INTERNATIONAL CORP | COM | 13342B105 |  | 4735006 | 77420 | SH |  | SOLE |  | 77420 | 0 | 0 |
| CDN IMPERIAL BK OF COMMERCE | COM | 136069101 |  | 29018528 | 408687 | SH |  | SOLE |  | 408687 | 0 | 0 |
| CANADIAN NATL RY CO | COM | 136375102 |  | 33241097 | 341242 | SH |  | SOLE |  | 341242 | 0 | 0 |
| CANADIAN NAT RES LTD | COM | 136385101 |  | 26511032 | 939916 | SH |  | SOLE |  | 939916 | 0 | 0 |
| CANON INC | SPONSORED ADR | 138006309 |  | 5945689 | 180885 | SH |  | SOLE |  | 180885 | 0 | 0 |
| CATERPILLAR INC DEL | COM | 149123101 |  | 1904693 | 23090 | SH |  | SOLE |  | 23090 | 0 | 0 |
| CEMEX SAB DE CV | SPON ADR NEW | 151290889 |  | 104911 | 9916 | SH |  | SOLE |  | 9916 | 0 | 0 |
| CENOVUS ENERGY INC | COM | 15135U109 |  | 6178428 | 216493 | SH |  | SOLE |  | 216493 | 0 | 0 |
| CERNER CORP | COM | 156782104 |  | 4059801 | 42250 | SH |  | SOLE |  | 42250 | 0 | 0 |
| CHESAPEAKE ENERGY CORP | COM | 165167107 |  | 2870522 | 140850 | SH |  | SOLE |  | 140850 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 2069173 | 17485 | SH |  | SOLE |  | 17485 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 4837690 | 199000 | SH |  | SOLE |  | 199000 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 12070738 | 251631 | SH |  | SOLE |  | 251631 | 0 | 0 |
| COACH INC | COM | 189754104 |  | 1197461 | 20975 | SH |  | SOLE |  | 20975 | 0 | 0 |
| COASTAL CONTACTS INC | COM NEW | 19044R207 |  | 1197434 | 235280 | SH |  | SOLE |  | 235280 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 2776413 | 69220 | SH |  | SOLE |  | 69220 | 0 | 0 |
| COMPANHIA DE BEBIDAS DAS AME | SPON ADR PFD | 20441W203 |  | 1939808 | 51936 | SH |  | SOLE |  | 51936 | 0 | 0 |
| COMPASS DIVERSIFIED HOLDINGS | SH BEN INT | 20451Q104 |  | 327985 | 18710 | SH |  | SOLE |  | 18710 | 0 | 0 |
| CORNING INC | COM | 219350105 |  | 1530649 | 107565 | SH |  | SOLE |  | 107565 | 0 | 0 |
| CORPORATE OFFICE PPTYS TR | SH BEN INT | 22002T108 |  | 351389 | 13780 | SH |  | SOLE |  | 13780 | 0 | 0 |
| CORRECTIONS CORP AMER NEW | COM NEW | 22025Y407 |  | 3135514 | 92575 | SH |  | SOLE |  | 92575 | 0 | 0 |
| D R HORTON INC | COM | 23331A109 |  | 785017 | 36890 | SH |  | SOLE |  | 36890 | 0 | 0 |
| DARDEN RESTAURANTS INC | COM | 237194105 |  | 1617126 | 32035 | SH |  | SOLE |  | 32035 | 0 | 0 |
| DELL INC | COM | 24702R101 |  | 2142768 | 160507 | SH |  | SOLE |  | 160507 | 0 | 0 |
| DICKS SPORTING GOODS INC | COM | 253393102 |  | 1915795 | 38270 | SH |  | SOLE |  | 38270 | 0 | 0 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 371489 | 6090 | SH |  | SOLE |  | 6090 | 0 | 0 |
| DISNEY WALT CO | COM DISNEY | 254687106 |  | 11469932 | 181630 | SH |  | SOLE |  | 181630 | 0 | 0 |
| DIRECTV | COM | 25490A309 |  | 8923807 | 144820 | SH |  | SOLE |  | 144820 | 0 | 0 |
| DOMTAR CORP | COM NEW | 257559203 |  | 16825331 | 252850 | SH |  | SOLE |  | 252850 | 0 | 0 |
| DR PEPPER SNAPPLE GROUP INC | COM | 26138E109 |  | 2098311 | 45685 | SH |  | SOLE |  | 45685 | 0 | 0 |
| DUPONT FABROS TECHNOLOGY INC | COM | 26613Q106 |  | 388573 | 16090 | SH |  | SOLE |  | 16090 | 0 | 0 |
| E M C CORP MASS | COM | 268648102 |  | 9945437 | 421060 | SH |  | SOLE |  | 421060 | 0 | 0 |
| ENI S P A | SPONSORED ADR | 26874R108 |  | 12480263 | 304100 | SH |  | SOLE |  | 304100 | 0 | 0 |
| EOG RES INC | COM | 26875P101 |  | 2732358 | 20750 | SH |  | SOLE |  | 20750 | 0 | 0 |
| EBAY INC | COM | 278642103 |  | 911306 | 17620 | SH |  | SOLE |  | 17620 | 0 | 0 |
| ELECTRONIC ARTS INC | COM | 285512109 |  | 7454683 | 324540 | SH |  | SOLE |  | 324540 | 0 | 0 |
| EMERSON ELEC CO | COM | 291011104 |  | 1559842 | 28600 | SH |  | SOLE |  | 28600 | 0 | 0 |
| ENCANA CORP | COM | 292505104 |  | 1150219 | 67966 | SH |  | SOLE |  | 67966 | 0 | 0 |
| ENBRIDGE INC | COM | 29250N105 |  | 7622872 | 181253 | SH |  | SOLE |  | 181253 | 0 | 0 |
| FACEBOOK INC | CL A | 30303M102 |  | 1257667 | 50590 | SH |  | SOLE |  | 50590 | 0 | 0 |
| FASTENAL CO | COM | 311900104 |  | 2760169 | 60200 | SH |  | SOLE |  | 60200 | 0 | 0 |
| F5 NETWORKS INC | COM | 315616102 |  | 1130383 | 16430 | SH |  | SOLE |  | 16430 | 0 | 0 |
| FOMENTO ECONOMICO MEXICANO S | SPON ADR UNITS | 344419106 |  | 2089699 | 20251 | SH |  | SOLE |  | 20251 | 0 | 0 |
| FORD MTR CO DEL | COM PAR $0.01 | 345370860 |  | 7756655 | 501400 | SH |  | SOLE |  | 501400 | 0 | 0 |
| FORTINET INC | COM | 34959E109 |  | 1202074 | 68690 | SH |  | SOLE |  | 68690 | 0 | 0 |
| FORTUNA SILVER MINES INC | COM | 349915108 |  | 2195285 | 659341 | SH |  | SOLE |  | 659341 | 0 | 0 |
| FRANCO NEVADA CORP | COM | 351858105 |  | 733870 | 20490 | SH |  | SOLE |  | 20490 | 0 | 0 |
| GEO GROUP INC | COM | 36159R103 |  | 1142247 | 33645 | SH |  | SOLE |  | 33645 | 0 | 0 |
| GAP INC DEL | COM | 364760108 |  | 3709796 | 88900 | SH |  | SOLE |  | 88900 | 0 | 0 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 1488269 | 19000 | SH |  | SOLE |  | 19000 | 0 | 0 |
| GENERAL ELECTRIC CO | COM | 369604103 |  | 5973742 | 257600 | SH |  | SOLE |  | 257600 | 0 | 0 |
| GENERAL GROWTH PPTYS INC NEW | COM | 370023103 |  | 3764331 | 189448 | SH |  | SOLE |  | 189448 | 0 | 0 |
| GENERAL MLS INC | COM | 370334104 |  | 1741012 | 35875 | SH |  | SOLE |  | 35875 | 0 | 0 |
| GENUINE PARTS CO | COM | 372460105 |  | 844716 | 10820 | SH |  | SOLE |  | 10820 | 0 | 0 |
| GILDAN ACTIVEWEAR INC | COM | 375916103 |  | 3498485 | 86228 | SH |  | SOLE |  | 86228 | 0 | 0 |
| GOLDCORP INC NEW | COM | 380956409 |  | 1452596 | 58460 | SH |  | SOLE |  | 58460 | 0 | 0 |
| GOOGLE INC | CL A | 38259P508 |  | 12853398 | 14600 | SH |  | SOLE |  | 14600 | 0 | 0 |
| GRANITE REAL ESTATE INVT TR | UNIT 99/99/9999 | 387437114 |  | 14081107 | 408447 | SH |  | SOLE |  | 408447 | 0 | 0 |
| GRUPO FINANCIERO SANTANDER M | SPON ADR SHS B | 40053C105 |  | 251147 | 17674 | SH |  | SOLE |  | 17674 | 0 | 0 |
| HCA HOLDINGS INC | COM | 40412C101 |  | 281266 | 7800 | SH |  | SOLE |  | 7800 | 0 | 0 |
| HDFC BANK LTD | ADR REPS 3 SHS | 40415F101 |  | 408134 | 11262 | SH |  | SOLE |  | 11262 | 0 | 0 |
| HALLIBURTON CO | COM | 406216101 |  | 6474943 | 155200 | SH |  | SOLE |  | 155200 | 0 | 0 |
| HASBRO INC | COM | 418056107 |  | 2032591 | 45340 | SH |  | SOLE |  | 45340 | 0 | 0 |
| HESS CORP | COM | 42809H107 |  | 8563911 | 128800 | SH |  | SOLE |  | 128800 | 0 | 0 |
| HILLENBRAND INC | COM | 431571108 |  | 1072402 | 45230 | SH |  | SOLE |  | 45230 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 7266684 | 93800 | SH |  | SOLE |  | 93800 | 0 | 0 |
| HOMEAWAY INC | COM | 43739Q100 |  | 658442 | 20360 | SH |  | SOLE |  | 20360 | 0 | 0 |
| HONDA MOTOR LTD | AMERN SHS | 438128308 |  | 4555674 | 122300 | SH |  | SOLE |  | 122300 | 0 | 0 |
| HOWARD HUGHES CORP | COM | 44267D107 |  | 3110721 | 27752 | SH |  | SOLE |  | 27752 | 0 | 0 |
| ICICI BK LTD | ADR | 45104G104 |  | 477091 | 12473 | SH |  | SOLE |  | 12473 | 0 | 0 |
| INNOPHOS HOLDINGS INC | COM | 45774N108 |  | 639152 | 13550 | SH |  | SOLE |  | 13550 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 12410809 | 512420 | SH |  | SOLE |  | 512420 | 0 | 0 |
| IRON MTN INC | COM | 462846106 |  | 1284144 | 48258 | SH |  | SOLE |  | 48258 | 0 | 0 |
| ISHARES TR | MSCI EMERG MKT | 464287234 |  | 65795 | 1709 | SH |  | SOLE |  | 1709 | 0 | 0 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 13272725 | 251425 | SH |  | SOLE |  | 251425 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 22858077 | 266225 | SH |  | SOLE |  | 266225 | 0 | 0 |
| JOY GLOBAL INC | COM | 481165108 |  | 4042547 | 83300 | SH |  | SOLE |  | 83300 | 0 | 0 |
| J2 GLOBAL INC | COM | 48123V102 |  | 1397303 | 32870 | SH |  | SOLE |  | 32870 | 0 | 0 |
| JUNIPER NETWORKS INC | COM | 48203R104 |  | 7037915 | 364470 | SH |  | SOLE |  | 364470 | 0 | 0 |
| KIMBERLY CLARK CORP | COM | 494368103 |  | 1871401 | 19265 | SH |  | SOLE |  | 19265 | 0 | 0 |
| KOHLS CORP | COM | 500255104 |  | 1927207 | 38155 | SH |  | SOLE |  | 38155 | 0 | 0 |
| KONINKLIJKE PHILIPS N V | NY REG SH NEW | 500472303 |  | 12307797 | 452659 | SH |  | SOLE |  | 452659 | 0 | 0 |
| KRAFT FOODS GROUP INC | COM | 50076Q106 |  | 20863084 | 373422 | SH |  | SOLE |  | 373422 | 0 | 0 |
| LAS VEGAS SANDS CORP | COM | 517834107 |  | 1317057 | 24883 | SH |  | SOLE |  | 24883 | 0 | 0 |
| LENNAR CORP | CL A | 526057104 |  | 801168 | 22230 | SH |  | SOLE |  | 22230 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 1274946 | 11755 | SH |  | SOLE |  | 11755 | 0 | 0 |
| MSCI INC | COM | 55354G100 |  | 1957938 | 58850 | SH |  | SOLE |  | 58850 | 0 | 0 |
| MAGNA INTL INC | COM | 559222401 |  | 24218665 | 340085 | SH |  | SOLE |  | 340085 | 0 | 0 |
| MANULIFE FINL CORP | COM | 56501R106 |  | 46216049 | 2886661 | SH |  | SOLE |  | 2886661 | 0 | 0 |
| MEAD JOHNSON NUTRITION CO | COM | 582839106 |  | 2423645 | 30590 | SH |  | SOLE |  | 30590 | 0 | 0 |
| MEDTRONIC INC | COM | 585055106 |  | 1892808 | 36775 | SH |  | SOLE |  | 36775 | 0 | 0 |
| MEMORIAL PRODTN PARTNERS LP | COM U REP LTD | 586048100 |  | 96627 | 4930 | SH |  | SOLE |  | 4930 | 0 | 0 |
| MERCK  CO INC NEW | COM | 58933Y105 |  | 16877607 | 363350 | SH |  | SOLE |  | 363350 | 0 | 0 |
| METLIFE INC | COM | 59156R108 |  | 6694688 | 146300 | SH |  | SOLE |  | 146300 | 0 | 0 |
| MICROS SYS INC | COM | 594901100 |  | 2602374 | 60310 | SH |  | SOLE |  | 60310 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 24398032 | 706575 | SH |  | SOLE |  | 706575 | 0 | 0 |
| MINDRAY MEDICAL INTL LTD | SPON ADR | 602675100 |  | 1074065 | 28680 | SH |  | SOLE |  | 28680 | 0 | 0 |
| MOBILE TELESYSTEMS OJSC | SPONSORED ADR | 607409109 |  | 181009 | 9557 | SH |  | SOLE |  | 9557 | 0 | 0 |
| MOLSON COORS BREWING CO | CL B | 60871R209 |  | 1441781 | 30125 | SH |  | SOLE |  | 30125 | 0 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 1778559 | 62340 | SH |  | SOLE |  | 62340 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 2952805 | 120868 | SH |  | SOLE |  | 120868 | 0 | 0 |
| MYRIAD GENETICS INC | COM | 62855J104 |  | 3136266 | 116720 | SH |  | SOLE |  | 116720 | 0 | 0 |
| NVR INC | COM | 62944T105 |  | 746818 | 810 | SH |  | SOLE |  | 810 | 0 | 0 |
| NATIONAL CINEMEDIA INC | COM | 635309107 |  | 604324 | 35780 | SH |  | SOLE |  | 35780 | 0 | 0 |
| NATIONAL FUEL GAS CO N J | COM | 636180101 |  | 1859614 | 32090 | SH |  | SOLE |  | 32090 | 0 | 0 |
| NORFOLK SOUTHERN CORP | COM | 655844108 |  | 2179136 | 29995 | SH |  | SOLE |  | 29995 | 0 | 0 |
| NUCOR CORP | COM | 670346105 |  | 1392953 | 32155 | SH |  | SOLE |  | 32155 | 0 | 0 |
| OCCIDENTAL PETE CORP DEL | COM | 674599105 |  | 2404747 | 26950 | SH |  | SOLE |  | 26950 | 0 | 0 |
| OWENS  MINOR INC NEW | COM | 690732102 |  | 1723298 | 50940 | SH |  | SOLE |  | 50940 | 0 | 0 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 2197442 | 30135 | SH |  | SOLE |  | 30135 | 0 | 0 |
| PALL CORP | COM | 696429307 |  | 3803781 | 57260 | SH |  | SOLE |  | 57260 | 0 | 0 |
| PAYCHEX INC | COM | 704326107 |  | 1119154 | 30645 | SH |  | SOLE |  | 30645 | 0 | 0 |
| PEMBINA PIPELINE CORP | COM | 706327103 |  | 12260616 | 400510 | SH |  | SOLE |  | 400510 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 2157210 | 26375 | SH |  | SOLE |  | 26375 | 0 | 0 |
| PETROLEO BRASILEIRO SA PETRO | SP ADR NON VTG | 71654V101 |  | 1623740 | 110760 | SH |  | SOLE |  | 110760 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 10830763 | 386675 | SH |  | SOLE |  | 386675 | 0 | 0 |
| POTASH CORP SASK INC | COM | 73755L107 |  | 8069384 | 211430 | SH |  | SOLE |  | 211430 | 0 | 0 |
| PRICELINE COM INC | COM NEW | 741503403 |  | 3887510 | 4700 | SH |  | SOLE |  | 4700 | 0 | 0 |
| PROCTER  GAMBLE CO | COM | 742718109 |  | 7337914 | 95310 | SH |  | SOLE |  | 95310 | 0 | 0 |
| QIWI PLC | SPON ADR REP B | 74735M108 |  | 106464 | 4589 | SH |  | SOLE |  | 4589 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 7000989 | 114620 | SH |  | SOLE |  | 114620 | 0 | 0 |
| RANGE RES CORP | COM | 75281A109 |  | 2568569 | 33220 | SH |  | SOLE |  | 33220 | 0 | 0 |
| RAYTHEON CO | COM NEW | 755111507 |  | 1519436 | 22980 | SH |  | SOLE |  | 22980 | 0 | 0 |
| REPUBLIC SVCS INC | COM | 760759100 |  | 1421745 | 41890 | SH |  | SOLE |  | 41890 | 0 | 0 |
| RIVERBED TECHNOLOGY INC | COM | 768573107 |  | 4244923 | 272810 | SH |  | SOLE |  | 272810 | 0 | 0 |
| ROGERS COMMUNICATIONS INC | CL B | 775109200 |  | 24362460 | 621600 | SH |  | SOLE |  | 621600 | 0 | 0 |
| ROYAL BK CDA MONTREAL QUE | COM | 780087102 |  | 17266411 | 296190 | SH |  | SOLE |  | 296190 | 0 | 0 |
| RYANAIR HLDGS PLC | SPONSORED ADR | 783513104 |  | 6330253 | 122846 | SH |  | SOLE |  | 122846 | 0 | 0 |
| SABRA HEALTH CARE REIT INC | COM | 78573L106 |  | 418934 | 16045 | SH |  | SOLE |  | 16045 | 0 | 0 |
| SAFETY INS GROUP INC | COM | 78648T100 |  | 405786 | 8365 | SH |  | SOLE |  | 8365 | 0 | 0 |
| SANDISK CORP | COM | 80004C101 |  | 3574349 | 58500 | SH |  | SOLE |  | 58500 | 0 | 0 |
| SANDSTORM GOLD LTD | COM NEW | 80013R206 |  | 752611 | 128225 | SH |  | SOLE |  | 128225 | 0 | 0 |
| SANOFI | SPONSORED ADR | 80105N105 |  | 7681428 | 149125 | SH |  | SOLE |  | 149125 | 0 | 0 |
| SCANSOURCE INC | COM | 806037107 |  | 7043199 | 220100 | SH |  | SOLE |  | 220100 | 0 | 0 |
| SHAW COMMUNICATIONS INC | CL B CONV | 82028K200 |  | 15027056 | 625852 | SH |  | SOLE |  | 625852 | 0 | 0 |
| SKYWORKS SOLUTIONS INC | COM | 83088M102 |  | 2094653 | 95690 | SH |  | SOLE |  | 95690 | 0 | 0 |
| SONY CORP | ADR NEW | 835699307 |  | 1589249 | 75000 | SH |  | SOLE |  | 75000 | 0 | 0 |
| SOUTHERN COPPER CORP | COM | 84265V105 |  | 41982 | 1520 | SH |  | SOLE |  | 1520 | 0 | 0 |
| SPIRIT AIRLS INC | COM | 848577102 |  | 2395457 | 75400 | SH |  | SOLE |  | 75400 | 0 | 0 |
| SPREADTRUM COMMUNICATIONS IN | ADR | 849415203 |  | 149441 | 5693 | SH |  | SOLE |  | 5693 | 0 | 0 |
| STAPLES INC | COM | 855030102 |  | 1871082 | 117975 | SH |  | SOLE |  | 117975 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 9234089 | 141000 | SH |  | SOLE |  | 141000 | 0 | 0 |
| STARZ | COM SER A | 85571Q102 |  | 2055078 | 92990 | SH |  | SOLE |  | 92990 | 0 | 0 |
| STATE STR CORP | COM | 857477103 |  | 4364701 | 66933 | SH |  | SOLE |  | 66933 | 0 | 0 |
| SUN LIFE FINL INC | COM | 866796105 |  | 25398585 | 857114 | SH |  | SOLE |  | 857114 | 0 | 0 |
| SUNCOR ENERGY INC NEW | COM | 867224107 |  | 22483168 | 762400 | SH |  | SOLE |  | 762400 | 0 | 0 |
| SYSCO CORP | COM | 871829107 |  | 2109891 | 61765 | SH |  | SOLE |  | 61765 | 0 | 0 |
| TRW AUTOMOTIVE HLDGS CORP | COM | 87264S106 |  | 6697151 | 100800 | SH |  | SOLE |  | 100800 | 0 | 0 |
| TARGET CORP | COM | 87612E106 |  | 16136651 | 234340 | SH |  | SOLE |  | 234340 | 0 | 0 |
| TATA MTRS LTD | SPONSORED ADR | 876568502 |  | 138295 | 5900 | SH |  | SOLE |  | 5900 | 0 | 0 |
| TECK RESOURCES LTD | CL B | 878742204 |  | 2445355 | 114400 | SH |  | SOLE |  | 114400 | 0 | 0 |
| TELEFONICA BRASIL SA | SPONSORED ADR | 87936R106 |  | 1201562 | 52654 | SH |  | SOLE |  | 52654 | 0 | 0 |
| TELUS CORP | COM | 87971M103 |  | 43020248 | 1473064 | SH |  | SOLE |  | 1473064 | 0 | 0 |
| TEVA PHARMACEUTICAL INDS LTD | ADR | 881624209 |  | 1046992 | 26709 | SH |  | SOLE |  | 26709 | 0 | 0 |
| 3-D SYS CORP DEL | COM NEW | 88554D205 |  | 1505769 | 34300 | SH |  | SOLE |  | 34300 | 0 | 0 |
| 3M CO | COM | 88579Y101 |  | 1059054 | 9685 | SH |  | SOLE |  | 9685 | 0 | 0 |
| TIME WARNER INC | COM NEW | 887317303 |  | 3559398 | 61560 | SH |  | SOLE |  | 61560 | 0 | 0 |
| TOLL BROTHERS INC | COM | 889478103 |  | 752772 | 23070 | SH |  | SOLE |  | 23070 | 0 | 0 |
| TORONTO DOMINION BK ONT | COM NEW | 891160509 |  | 77564157 | 965263 | SH |  | SOLE |  | 965263 | 0 | 0 |
| TRANSALTA CORP | COM | 89346D107 |  | 6076740 | 443296 | SH |  | SOLE |  | 443296 | 0 | 0 |
| TRANSGLOBE ENERGY CORP | COM | 893662106 |  | 6008430 | 968725 | SH |  | SOLE |  | 968725 | 0 | 0 |
| TRANSMONTAIGNE PARTNERS L P | COM UNIT L P | 89376V100 |  | 611675 | 14595 | SH |  | SOLE |  | 14595 | 0 | 0 |
| US BANCORP DEL | COM NEW | 902973304 |  | 1897150 | 52480 | SH |  | SOLE |  | 52480 | 0 | 0 |
| UNILEVER PLC | SPON ADR NEW | 904767704 |  | 1056958 | 26130 | SH |  | SOLE |  | 26130 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 77139 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 2245019 | 25960 | SH |  | SOLE |  | 25960 | 0 | 0 |
| VERIFONE SYS INC | COM | 92342Y109 |  | 1252513 | 74510 | SH |  | SOLE |  | 74510 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 1500131 | 29800 | SH |  | SOLE |  | 29800 | 0 | 0 |
| VODAFONE GROUP PLC NEW | SPONS ADR NEW | 92857W209 |  | 4752732 | 165370 | SH |  | SOLE |  | 165370 | 0 | 0 |
| WAL-MART STORES INC | COM | 931142103 |  | 1422384 | 19095 | SH |  | SOLE |  | 19095 | 0 | 0 |
| WALGREEN CO | COM | 931422109 |  | 2270552 | 51370 | SH |  | SOLE |  | 51370 | 0 | 0 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 10181307 | 252450 | SH |  | SOLE |  | 252450 | 0 | 0 |
| WATERS CORP | COM | 941848103 |  | 2804701 | 28033 | SH |  | SOLE |  | 28033 | 0 | 0 |
| WESTERN UN CO | COM | 959802109 |  | 4195763 | 245223 | SH |  | SOLE |  | 245223 | 0 | 0 |
| WHOLE FOODS MKT INC | COM | 966837106 |  | 2287358 | 44432 | SH |  | SOLE |  | 44432 | 0 | 0 |
| WILLIAMS PARTNERS L P | COM UNIT L P | 96950F104 |  | 1839796 | 35655 | SH |  | SOLE |  | 35655 | 0 | 0 |
| WISDOMTREE TRUST | INDIA ERNGS FD | 97717W422 |  | 930819 | 57458 | SH |  | SOLE |  | 57458 | 0 | 0 |
| WYNN RESORTS LTD | COM | 983134107 |  | 1862271 | 14549 | SH |  | SOLE |  | 14549 | 0 | 0 |
| XYLEM INC | COM | 98419M100 |  | 2076265 | 77070 | SH |  | SOLE |  | 77070 | 0 | 0 |
| YAHOO INC | COM | 984332106 |  | 4886404 | 194600 | SH |  | SOLE |  | 194600 | 0 | 0 |
| YUM BRANDS INC | COM | 988498101 |  | 3648669 | 52620 | SH |  | SOLE |  | 52620 | 0 | 0 |
| AIRCASTLE LTD | COM | G0129K104 |  | 285260 | 17840 | SH |  | SOLE |  | 17840 | 0 | 0 |
| AMDOCS LTD | ORD | G02602103 |  | 2861863 | 77160 | SH |  | SOLE |  | 77160 | 0 | 0 |
| CREDICORP LTD | COM | G2519Y108 |  | 281255 | 2198 | SH |  | SOLE |  | 2198 | 0 | 0 |
| COVIDIEN PLC | SHS | G2554F113 |  | 7201464 | 114600 | SH |  | SOLE |  | 114600 | 0 | 0 |
| FRONTLINE LTD | SHS | G3682E127 |  | 88499 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| INGERSOLL-RAND PLC | SHS | G47791101 |  | 8900632 | 160314 | SH |  | SOLE |  | 160314 | 0 | 0 |
| LAZARD LTD | SHS A | G54050102 |  | 2543064 | 79100 | SH |  | SOLE |  | 79100 | 0 | 0 |
| ONEBEACON INSURANCE GROUP LT | CL A | G67742109 |  | 322758 | 22290 | SH |  | SOLE |  | 22290 | 0 | 0 |
| ORIENT-EXPRESS HOTELS LTD | CL A | G67743107 |  | 843392 | 69358 | SH |  | SOLE |  | 69358 | 0 | 0 |
| PARTNERRE LTD | COM | G6852T105 |  | 1795804 | 19830 | SH |  | SOLE |  | 19830 | 0 | 0 |
| SEAGATE TECHNOLOGY PLC | SHS | G7945M107 |  | 11149220 | 248700 | SH |  | SOLE |  | 248700 | 0 | 0 |
| WEATHERFORD INTERNATIONAL LT | REG SHS | H27013103 |  | 7846946 | 572770 | SH |  | SOLE |  | 572770 | 0 | 0 |
| CHECK POINT SOFTWARE TECH LT | ORD | M22465104 |  | 1849238 | 37223 | SH |  | SOLE |  | 37223 | 0 | 0 |
| COPA HOLDINGS SA | CL A | P31076105 |  | 209005 | 1594 | SH |  | SOLE |  | 1594 | 0 | 0 |
| DIANA SHIPPING INC | COM | Y2066G104 |  | 782818 | 77970 | SH |  | SOLE |  | 77970 | 0 | 0 |

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