# EDGAR Filing Document

**Accession Number:** 0002077904
**File Stem:** 0002077904-25-000004
**Filing Date:** 2025-7
**Character Count:** 24146
**Document Hash:** 146c4a52e2d3fbc264731e52150c4a01
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002077904-25-000004.hdr.sgml**: 20250721

**ACCESSION NUMBER**: 0002077904-25-000004

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20141231

**FILED AS OF DATE**: 20250721

**DATE AS OF CHANGE**: 20250721

**EFFECTIVENESS DATE**: 20250721

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Credential Securities Inc.
- **CENTRAL INDEX KEY:** 0002077904

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** Z4
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-25660
- **FILM NUMBER:** 251136104

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 700 - 1111 WEST GEORGIA STREET
- **CITY:** VANCOUVER
- **PROVINCE COUNTRY:** A1
- **ZIP:** V6E 4T6
- **BUSINESS PHONE:** 1.888.545.5959

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 700 - 1111 WEST GEORGIA STREET
- **CITY:** VANCOUVER
- **PROVINCE COUNTRY:** A1
- **ZIP:** V6E 4T6

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2014

**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:** Credential Securities Inc.<br>**Address:** 700 - 1111 WEST GEORGIA STREET<br>VANCOUVER, A1 V6E 4T6

**Form 13F File Number:** 028-25660

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 Risk Officer<br>**Phone:** 6472899343

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

John H. Bai  Toronto, A6  07-15-2025<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:** 214

**Form 13F Information Table Value Total:** $154363205

      (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 |
| AMC NETWORKS INC | CL A | 00164V103 |  | 215253 | 3376 | SH |  | SOLE |  | 0 | 3307 | 69 |
| AT INC | COM | 00206R102 |  | 995244 | 29638 | SH |  | SOLE |  | 0 | 25718 | 3920 |
| ABBOTT LABS | COM | 002824100 |  | 255353 | 5672 | SH |  | SOLE |  | 0 | 4910 | 762 |
| ABBVIE INC | COM | 00287Y109 |  | 488294 | 7464 | SH |  | SOLE |  | 0 | 6474 | 990 |
| AGNICO EAGLE MINES LTD | COM | 008474108 |  | 745 | 30 | SH |  | SOLE |  | 0 | 30 | 0 |
| AGRIUM INC | COM | 008916108 |  | 1190268 | 12585 | SH |  | SOLE |  | 0 | 11713 | 872 |
| AIR PRODS  CHEMS INC | COM | 009158106 |  | 852044 | 5910 | SH |  | SOLE |  | 0 | 5129 | 781 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 762840 | 15486 | SH |  | SOLE |  | 0 | 13741 | 1745 |
| AMEREN CORP | COM | 023608102 |  | 569689 | 12355 | SH |  | SOLE |  | 0 | 10756 | 1599 |
| AMERISOURCEBERGEN CORP | COM | 03073E105 |  | 93645 | 1039 | SH |  | SOLE |  | 0 | 1039 | 0 |
| ANHEUSER BUSCH INBEV SA/NV | SPONSORED ADR | 03524A108 |  | 710381 | 6328 | SH |  | SOLE |  | 0 | 5499 | 829 |
| APACHE CORP | COM | 037411105 |  | 93927 | 1499 | SH |  | SOLE |  | 0 | 1462 | 37 |
| APOLLO ED GROUP INC | CL A | 037604105 |  | 133813 | 3923 | SH |  | SOLE |  | 0 | 3845 | 78 |
| APPLE INC | COM | 037833100 |  | 2507060 | 22713 | SH |  | SOLE |  | 0 | 20017 | 2696 |
| ASTRAZENECA PLC | SPONSORED ADR | 046353108 |  | 799516 | 11360 | SH |  | SOLE |  | 0 | 9843 | 1517 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 1096899 | 13157 | SH |  | SOLE |  | 0 | 11420 | 1737 |
| BB CORP | COM | 054937107 |  | 464463 | 11943 | SH |  | SOLE |  | 0 | 10384 | 1559 |
| BCE INC | COM NEW | 05534B760 |  | 29037 | 634 | SH |  | SOLE |  | 0 | 570 | 64 |
| BANCO SANTANDER SA | ADR | 05964H105 |  | 245290 | 29482 | SH |  | SOLE |  | 0 | 25590 | 3892 |
| BANK MONTREAL QUE | COM | 063671101 |  | 862328 | 12199 | SH |  | SOLE |  | 0 | 11119 | 1080 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 408702 | 10074 | SH |  | SOLE |  | 0 | 8823 | 1251 |
| BANK N S HALIFAX | COM | 064149107 |  | 7660060 | 134233 | SH |  | SOLE |  | 0 | 120033 | 14200 |
| BARRICK GOLD CORP | COM | 067901108 |  | 77264 | 7194 | SH |  | SOLE |  | 0 | 6463 | 731 |
| BAYTEX ENERGY CORP | COM | 07317Q105 |  | 191057 | 11509 | SH |  | SOLE |  | 0 | 9578 | 1931 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 434318 | 3121 | SH |  | SOLE |  | 0 | 2719 | 402 |
| BIOMED REALTY TRUST INC | COM | 09063H107 |  | 31369 | 1457 | SH |  | SOLE |  | 0 | 1418 | 39 |
| BLACKBERRY LTD | COM | 09228F103 |  | 6710 | 614 | SH |  | SOLE |  | 0 | 614 | 0 |
| BLACKROCK INC | COM | 09247X101 |  | 609366 | 1705 | SH |  | SOLE |  | 0 | 1487 | 218 |
| BORGWARNER INC | COM | 099724106 |  | 395973 | 7210 | SH |  | SOLE |  | 0 | 6304 | 906 |
| BRITISH AMERN TOB PLC | SPONSORED ADR | 110448107 |  | 766362 | 7121 | SH |  | SOLE |  | 0 | 6309 | 812 |
| BROOKFIELD ASSET MGMT INC | CL A LTD VT SH | 112585104 |  | 198620 | 3969 | SH |  | SOLE |  | 0 | 3687 | 282 |
| CAE INC | COM | 124765108 |  | 557653 | 43056 | SH |  | SOLE |  | 0 | 38727 | 4329 |
| CDK GLOBAL INC | COM | 12508E101 |  | 5054 | 124 | SH |  | SOLE |  | 0 | 113 | 11 |
| CSX CORP | COM | 126408103 |  | 658660 | 18185 | SH |  | SOLE |  | 0 | 15892 | 2293 |
| CVS HEALTH CORP | COM | 126650100 |  | 902039 | 9366 | SH |  | SOLE |  | 0 | 8288 | 1078 |
| CA INC | COM | 12673P105 |  | 378797 | 12440 | SH |  | SOLE |  | 0 | 10845 | 1595 |
| CAMECO CORP | COM | 13321L108 |  | 423907 | 25898 | SH |  | SOLE |  | 0 | 22659 | 3239 |
| CAMERON INTERNATIONAL CORP | COM | 13342B105 |  | 215541 | 4316 | SH |  | SOLE |  | 0 | 4214 | 102 |
| CDN IMPERIAL BK COMM TORONTO | COM | 136069101 |  | 3105694 | 36146 | SH |  | SOLE |  | 0 | 32631 | 3515 |
| CANADIAN NATL RY CO | COM | 136375102 |  | 5491015 | 79757 | SH |  | SOLE |  | 0 | 71778 | 7979 |
| CANADIAN NAT RES LTD | COM | 136385101 |  | 5730869 | 185495 | SH |  | SOLE |  | 0 | 166894 | 18601 |
| CANADIAN PAC RY LTD | COM | 13645T100 |  | 551441 | 2867 | SH |  | SOLE |  | 0 | 2490 | 377 |
| CATAMARAN CORP | COM | 148887102 |  | 177219 | 3431 | SH |  | SOLE |  | 0 | 3349 | 82 |
| CELESTICA INC | SUB VTG SHS | 15101Q108 |  | 26794 | 2291 | SH |  | SOLE |  | 0 | 2001 | 290 |
| CENOVUS ENERGY INC | COM | 15135U109 |  | 1354895 | 65874 | SH |  | SOLE |  | 0 | 58119 | 7755 |
| CERNER CORP | COM | 156782104 |  | 347288 | 5371 | SH |  | SOLE |  | 0 | 5256 | 115 |
| CHEVRON CORP NEW | COM | 166764100 |  | 973834 | 8681 | SH |  | SOLE |  | 0 | 7554 | 1127 |
| CISCO SYS INC | COM | 17275R102 |  | 1331125 | 47865 | SH |  | SOLE |  | 0 | 42289 | 5576 |
| COCA COLA CO | COM | 191216100 |  | 423213 | 10024 | SH |  | SOLE |  | 0 | 9143 | 881 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 795178 | 11496 | SH |  | SOLE |  | 0 | 9964 | 1532 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 392423 | 5684 | SH |  | SOLE |  | 0 | 4948 | 736 |
| CORPORATE OFFICE PPTYS TR | SH BEN INT | 22002T108 |  | 28228 | 995 | SH |  | SOLE |  | 0 | 968 | 27 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 46494 | 328 | SH |  | SOLE |  | 0 | 328 | 0 |
| CRESCENT PT ENERGY CORP | COM | 22576C101 |  | 652753 | 28218 | SH |  | SOLE |  | 0 | 24728 | 3490 |
| DAVITA HEALTHCARE PARTNERS I | COM | 23918K108 |  | 376808 | 4977 | SH |  | SOLE |  | 0 | 4341 | 636 |
| DIAGEO P L C | SPON ADR NEW | 25243Q205 |  | 1405826 | 12321 | SH |  | SOLE |  | 0 | 10840 | 1481 |
| DOLLAR TREE INC | COM | 256746108 |  | 508843 | 7232 | SH |  | SOLE |  | 0 | 6276 | 956 |
| DOMTAR CORP | COM NEW | 257559203 |  | 1733708 | 43157 | SH |  | SOLE |  | 0 | 39925 | 3232 |
| DOW CHEM CO | COM | 260543103 |  | 596459 | 13086 | SH |  | SOLE |  | 0 | 11350 | 1736 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 391839 | 4691 | SH |  | SOLE |  | 0 | 4077 | 614 |
| E M C CORP MASS | COM | 268648102 |  | 306960 | 10318 | SH |  | SOLE |  | 0 | 10103 | 215 |
| ENI S P A | SPONSORED ADR | 26874R108 |  | 138567 | 3991 | SH |  | SOLE |  | 0 | 3462 | 529 |
| EOG RES INC | COM | 26875P101 |  | 566353 | 6152 | SH |  | SOLE |  | 0 | 5546 | 606 |
| EBAY INC | COM | 278642103 |  | 249184 | 4441 | SH |  | SOLE |  | 0 | 4345 | 96 |
| ELDORADO GOLD CORP NEW | COM | 284902103 |  | 577 | 95 | SH |  | SOLE |  | 0 | 95 | 0 |
| ELECTRONIC ARTS INC | COM | 285512109 |  | 189920 | 4040 | SH |  | SOLE |  | 0 | 3956 | 84 |
| EMERSON ELEC CO | COM | 291011104 |  | 889179 | 14409 | SH |  | SOLE |  | 0 | 12590 | 1819 |
| ENCANA CORP | COM | 292505104 |  | 316360 | 22833 | SH |  | SOLE |  | 0 | 21696 | 1137 |
| ENBRIDGE INC | COM | 29250N105 |  | 1329133 | 25918 | SH |  | SOLE |  | 0 | 22863 | 3055 |
| ENERGIZER HLDGS INC | COM | 29266R108 |  | 143612 | 1117 | SH |  | SOLE |  | 0 | 1094 | 23 |
| ENTERGY CORP NEW | COM | 29364G103 |  | 373195 | 4269 | SH |  | SOLE |  | 0 | 3715 | 554 |
| EVERTEC INC | COM | 30040P103 |  | 165045 | 7458 | SH |  | SOLE |  | 0 | 7303 | 155 |
| EXPRESS SCRIPTS HLDG CO | COM | 30219G108 |  | 189045 | 2233 | SH |  | SOLE |  | 0 | 2179 | 54 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 710971 | 7692 | SH |  | SOLE |  | 0 | 6692 | 1000 |
| FACEBOOK INC | CL A | 30303M102 |  | 58749 | 753 | SH |  | SOLE |  | 0 | 735 | 18 |
| FASTENAL CO | COM | 311900104 |  | 236706 | 4977 | SH |  | SOLE |  | 0 | 4877 | 100 |
| FEDEX CORP | COM | 31428X106 |  | 102418 | 590 | SH |  | SOLE |  | 0 | 590 | 0 |
| FISERV INC | COM | 337738108 |  | 963559 | 13577 | SH |  | SOLE |  | 0 | 11774 | 1803 |
| FORD MTR CO DEL | COM PAR $0.01 | 345370860 |  | 743 | 48 | SH |  | SOLE |  | 0 | 48 | 0 |
| FRANCO NEVADA CORP | COM | 351858105 |  | 184973 | 3759 | SH |  | SOLE |  | 0 | 3472 | 287 |
| GANNETT INC | COM | 364730101 |  | 172240 | 5396 | SH |  | SOLE |  | 0 | 5296 | 100 |
| GENERAL ELECTRIC CO | COM | 369604103 |  | 470249 | 18609 | SH |  | SOLE |  | 0 | 16279 | 2330 |
| GENERAL MLS INC | COM | 370334104 |  | 1759 | 33 | SH |  | SOLE |  | 0 | 33 | 0 |
| GENUINE PARTS CO | COM | 372460105 |  | 636815 | 5975 | SH |  | SOLE |  | 0 | 5219 | 756 |
| GILDAN ACTIVEWEAR INC | COM | 375916103 |  | 1378641 | 24454 | SH |  | SOLE |  | 0 | 21647 | 2807 |
| GLAXOSMITHKLINE PLC | SPONSORED ADR | 37733W105 |  | 575993 | 13483 | SH |  | SOLE |  | 0 | 11605 | 1878 |
| GOLDCORP INC NEW | COM | 380956409 |  | 737215 | 39881 | SH |  | SOLE |  | 0 | 37478 | 2403 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 1550 | 8 | SH |  | SOLE |  | 0 | 8 | 0 |
| GOOGLE INC | CL A | 38259P508 |  | 387330 | 730 | SH |  | SOLE |  | 0 | 661 | 69 |
| GOOGLE INC | CL C | 38259P706 |  | 383212 | 728 | SH |  | SOLE |  | 0 | 657 | 71 |
| GROUPE CGI INC | CL A SUB VTG | 39945C109 |  | 3409399 | 89490 | SH |  | SOLE |  | 0 | 82519 | 6971 |
| HALLIBURTON CO | COM | 406216101 |  | 315657 | 8032 | SH |  | SOLE |  | 0 | 7013 | 1019 |
| HALYARD HEALTH INC | COM | 40650V100 |  | 864 | 19 | SH |  | SOLE |  | 0 | 17 | 2 |
| HESS CORP | COM | 42809H107 |  | 242392 | 3284 | SH |  | SOLE |  | 0 | 3209 | 75 |
| HOMEAWAY INC | COM | 43739Q100 |  | 81277 | 2732 | SH |  | SOLE |  | 0 | 2665 | 67 |
| HOSPITALITY PPTYS TR | COM SH BEN INT | 44106M102 |  | 376650 | 12150 | SH |  | SOLE |  | 0 | 10579 | 1571 |
| HUDBAY MINERALS INC | COM | 443628102 |  | 4341 | 500 | SH |  | SOLE |  | 0 | 500 | 0 |
| IAC INTERACTIVECORP | COM PAR $.001 | 44919P508 |  | 922092 | 15166 | SH |  | SOLE |  | 0 | 13386 | 1780 |
| IAMGOLD CORP | COM | 450913108 |  | 1342 | 500 | SH |  | SOLE |  | 0 | 500 | 0 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 956375 | 10099 | SH |  | SOLE |  | 0 | 8828 | 1271 |
| IMPERIAL OIL LTD | COM NEW | 453038408 |  | 1503 | 35 | SH |  | SOLE |  | 0 | 35 | 0 |
| INGREDION INC | COM | 457187102 |  | 138713 | 1635 | SH |  | SOLE |  | 0 | 1601 | 34 |
| INTEL CORP | COM | 458140100 |  | 228191 | 6288 | SH |  | SOLE |  | 0 | 5442 | 846 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 413935 | 2580 | SH |  | SOLE |  | 0 | 2244 | 336 |
| INTERNATIONAL FLAVORS | COM | 459506101 |  | 1284357 | 12675 | SH |  | SOLE |  | 0 | 11216 | 1459 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 88104 | 800 | SH |  | SOLE |  | 0 | 0 | 800 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 1557552 | 24885 | SH |  | SOLE |  | 0 | 21637 | 3248 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 3294687 | 31507 | SH |  | SOLE |  | 0 | 27612 | 3895 |
| JOY GLOBAL INC | COM | 481165108 |  | 143173 | 3079 | SH |  | SOLE |  | 0 | 3007 | 72 |
| JUNIPER NETWORKS INC | COM | 48203R104 |  | 252103 | 11300 | SH |  | SOLE |  | 0 | 11056 | 244 |
| KLA-TENCOR CORP | COM | 482480100 |  | 379289 | 5393 | SH |  | SOLE |  | 0 | 4686 | 707 |
| KELLOGG CO | COM | 487836108 |  | 811665 | 12407 | SH |  | SOLE |  | 0 | 10976 | 1431 |
| KIMBERLY CLARK CORP | COM | 494368103 |  | 1105605 | 9574 | SH |  | SOLE |  | 0 | 8321 | 1253 |
| LENNAR CORP | CL A | 526057104 |  | 56595 | 1263 | SH |  | SOLE |  | 0 | 1244 | 19 |
| LILLY ELI  CO | COM | 532457108 |  | 2690 | 39 | SH |  | SOLE |  | 0 | 39 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 726796 | 3774 | SH |  | SOLE |  | 0 | 3274 | 500 |
| LORILLARD INC | COM | 544147101 |  | 754530 | 11990 | SH |  | SOLE |  | 0 | 10551 | 1439 |
| MAGNA INTL INC | COM | 559222401 |  | 1223506 | 11296 | SH |  | SOLE |  | 0 | 10009 | 1287 |
| MANULIFE FINL CORP | COM | 56501R106 |  | 2915565 | 152883 | SH |  | SOLE |  | 0 | 135220 | 17663 |
| MASTERCARD INC | CL A | 57636Q104 |  | 157967 | 1833 | SH |  | SOLE |  | 0 | 1789 | 44 |
| MCDONALDS CORP | COM | 580135101 |  | 1719676 | 18353 | SH |  | SOLE |  | 0 | 16024 | 2329 |
| METHANEX CORP | COM | 59151K108 |  | 109369 | 2392 | SH |  | SOLE |  | 0 | 2217 | 175 |
| METLIFE INC | COM | 59156R108 |  | 735515 | 13598 | SH |  | SOLE |  | 0 | 11815 | 1783 |
| MICROSOFT CORP | COM | 594918104 |  | 1997594 | 42996 | SH |  | SOLE |  | 0 | 37683 | 5313 |
| MITEL NETWORKS CORP | COM | 60671Q104 |  | 133524 | 12514 | SH |  | SOLE |  | 0 | 11095 | 1419 |
| MOSAIC CO NEW | COM | 61945C103 |  | 187402 | 4107 | SH |  | SOLE |  | 0 | 4020 | 87 |
| NATIONAL GRID PLC | SPON ADR NEW | 636274300 |  | 744863 | 10546 | SH |  | SOLE |  | 0 | 9147 | 1399 |
| NEXSTAR BROADCASTING GROUP I | CL A | 65336K103 |  | 69810 | 1349 | SH |  | SOLE |  | 0 | 1313 | 36 |
| NOVARTIS A G | SPONSORED ADR | 66987V109 |  | 689870 | 7450 | SH |  | SOLE |  | 0 | 6468 | 982 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 663729 | 15691 | SH |  | SOLE |  | 0 | 13643 | 2048 |
| OLD REP INTL CORP | COM | 680223104 |  | 1694 | 116 | SH |  | SOLE |  | 0 | 116 | 0 |
| OPEN TEXT CORP | COM | 683715106 |  | 2739719 | 47094 | SH |  | SOLE |  | 0 | 43451 | 3643 |
| ORACLE CORP | COM | 68389X105 |  | 1555377 | 34587 | SH |  | SOLE |  | 0 | 30436 | 4151 |
| OWENS CORNING NEW | COM | 690742101 |  | 123080 | 3438 | SH |  | SOLE |  | 0 | 3355 | 83 |
| PEMBINA PIPELINE CORP | COM | 706327103 |  | 944277 | 25952 | SH |  | SOLE |  | 0 | 23261 | 2691 |
| PENGROWTH ENERGY CORP | COM | 70706P104 |  | 1335 | 430 | SH |  | SOLE |  | 0 | 430 | 0 |
| PENN WEST PETE LTD NEW | COM | 707887105 |  | 1045 | 500 | SH |  | SOLE |  | 0 | 500 | 0 |
| PEPSICO INC | COM | 713448108 |  | 755061 | 7985 | SH |  | SOLE |  | 0 | 6956 | 1029 |
| PFIZER INC | COM | 717081103 |  | 971381 | 31184 | SH |  | SOLE |  | 0 | 27110 | 4074 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 1140974 | 14010 | SH |  | SOLE |  | 0 | 12265 | 1745 |
| PHILIPPINE LONG DISTANCE TEL | SPONSORED ADR | 718252604 |  | 1581 | 25 | SH |  | SOLE |  | 0 | 25 | 0 |
| PLUM CREEK TIMBER CO INC | COM | 729251108 |  | 97606 | 2280 | SH |  | SOLE |  | 0 | 2227 | 53 |
| POPULAR INC | COM NEW | 733174700 |  | 120844 | 3548 | SH |  | SOLE |  | 0 | 3483 | 65 |
| POTASH CORP SASK INC | COM | 73755L107 |  | 895698 | 25404 | SH |  | SOLE |  | 0 | 22244 | 3160 |
| PRECISION DRILLING CORP | COM 2010 | 74022D308 |  | 56477 | 9322 | SH |  | SOLE |  | 0 | 8703 | 619 |
| PRICELINE GRP INC | COM NEW | 741503403 |  | 192730 | 169 | SH |  | SOLE |  | 0 | 165 | 4 |
| PROCTER  GAMBLE CO | COM | 742718109 |  | 704006 | 7727 | SH |  | SOLE |  | 0 | 6715 | 1012 |
| PROGRESSIVE WASTE SOLUTIONS | COM | 74339G101 |  | 55125 | 1837 | SH |  | SOLE |  | 0 | 1634 | 203 |
| PRUDENTIAL PLC | ADR | 74435K204 |  | 727620 | 15763 | SH |  | SOLE |  | 0 | 13712 | 2051 |
| QUALCOMM INC | COM | 747525103 |  | 1188822 | 15996 | SH |  | SOLE |  | 0 | 14123 | 1873 |
| RANGE RES CORP | COM | 75281A109 |  | 80694 | 1510 | SH |  | SOLE |  | 0 | 1475 | 35 |
| REALOGY HLDGS CORP | COM | 75605Y106 |  | 164879 | 3706 | SH |  | SOLE |  | 0 | 3628 | 78 |
| REYNOLDS AMERICAN INC | COM | 761713106 |  | 1088523 | 16942 | SH |  | SOLE |  | 0 | 15005 | 1937 |
| RITCHIE BROS AUCTIONEERS | COM | 767744105 |  | 69864 | 2607 | SH |  | SOLE |  | 0 | 2313 | 294 |
| ROGERS COMMUNICATIONS INC | CL B | 775109200 |  | 4351510 | 112042 | SH |  | SOLE |  | 0 | 100592 | 11450 |
| ROYAL BK CDA MONTREAL QUE | COM | 780087102 |  | 4477597 | 64883 | SH |  | SOLE |  | 0 | 57391 | 7492 |
| SK TELECOM LTD | SPONSORED ADR | 78440P108 |  | 5618 | 208 | SH |  | SOLE |  | 0 | 208 | 0 |
| SLM CORP | COM | 78442P106 |  | 90976 | 8928 | SH |  | SOLE |  | 0 | 8703 | 225 |
| SPDR INDEX SHS FDS | EURO STOXX 50 | 78463X202 |  | 100389 | 2725 | SH |  | SOLE |  | 0 | 2725 | 0 |
| SHAW COMMUNICATIONS INC | CL B CONV | 82028K200 |  | 612485 | 22731 | SH |  | SOLE |  | 0 | 20146 | 2585 |
| SILVER WHEATON CORP | COM | 828336107 |  | 6092 | 300 | SH |  | SOLE |  | 0 | 300 | 0 |
| SINCLAIR BROADCAST GROUP INC | CL A | 829226109 |  | 109002 | 3984 | SH |  | SOLE |  | 0 | 3909 | 75 |
| SIX FLAGS ENTMT CORP NEW | COM | 83001A102 |  | 549299 | 12730 | SH |  | SOLE |  | 0 | 11177 | 1553 |
| SPIRIT RLTY CAP INC NEW | COM | 84860W102 |  | 553358 | 46579 | SH |  | SOLE |  | 0 | 40386 | 6193 |
| STANTEC INC | COM | 85472N109 |  | 187073 | 6808 | SH |  | SOLE |  | 0 | 5914 | 894 |
| STARWOOD PPTY TR INC | COM | 85571B105 |  | 273672 | 11781 | SH |  | SOLE |  | 0 | 10089 | 1692 |
| STARZ | COM SER A | 85571Q102 |  | 104157 | 3507 | SH |  | SOLE |  | 0 | 3426 | 81 |
| SUN LIFE FINL INC | COM | 866796105 |  | 325727 | 9029 | SH |  | SOLE |  | 0 | 8692 | 337 |
| SUNCOR ENERGY INC NEW | COM | 867224107 |  | 4620283 | 145574 | SH |  | SOLE |  | 0 | 131761 | 13813 |
| T MOBILE US INC | COM | 872590104 |  | 94866 | 3524 | SH |  | SOLE |  | 0 | 3435 | 89 |
| TALISMAN ENERGY INC | COM | 87425E103 |  | 4683 | 598 | SH |  | SOLE |  | 0 | 481 | 117 |
| TARGET CORP | COM | 87612E106 |  | 474071 | 6246 | SH |  | SOLE |  | 0 | 5432 | 814 |
| TECK RESOURCES LTD | CL B | 878742204 |  | 374974 | 27525 | SH |  | SOLE |  | 0 | 24428 | 3097 |
| TELUS CORP | COM | 87971M103 |  | 3072724 | 85276 | SH |  | SOLE |  | 0 | 77851 | 7425 |
| TEVA PHARMACEUTICAL INDS LTD | ADR | 881624209 |  | 369955 | 6434 | SH |  | SOLE |  | 0 | 5630 | 804 |
| TEXAS INSTRS INC | COM | 882508104 |  | 638686 | 11947 | SH |  | SOLE |  | 0 | 10377 | 1570 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 1446087 | 11541 | SH |  | SOLE |  | 0 | 10222 | 1319 |
| THOMSON REUTERS CORP | COM | 884903105 |  | 2368244 | 58726 | SH |  | SOLE |  | 0 | 51960 | 6766 |
| 3M CO | COM | 88579Y101 |  | 1798427 | 10944 | SH |  | SOLE |  | 0 | 9626 | 1318 |
| TIME WARNER INC | COM NEW | 887317303 |  | 183695 | 2151 | SH |  | SOLE |  | 0 | 2097 | 54 |
| TIME WARNER CABLE INC | COM | 88732J207 |  | 664045 | 4367 | SH |  | SOLE |  | 0 | 3796 | 571 |
| TOLL BROTHERS INC | COM | 889478103 |  | 51390 | 1500 | SH |  | SOLE |  | 0 | 1476 | 24 |
| TORONTO DOMINION BK ONT | COM NEW | 891160509 |  | 8824117 | 184750 | SH |  | SOLE |  | 0 | 165268 | 19482 |
| TOTAL S A | SPONSORED ADR | 89151E109 |  | 556216 | 10887 | SH |  | SOLE |  | 0 | 9433 | 1454 |
| TRANSCANADA CORP | COM | 89353D107 |  | 251563 | 5141 | SH |  | SOLE |  | 0 | 5141 | 0 |
| TRIPADVISOR INC | COM | 896945201 |  | 87093 | 1167 | SH |  | SOLE |  | 0 | 1137 | 30 |
| US BANCORP DEL | COM NEW | 902973304 |  | 873108 | 19424 | SH |  | SOLE |  | 0 | 16932 | 2492 |
| UNILEVER PLC | SPON ADR NEW | 904767704 |  | 1335 | 33 | SH |  | SOLE |  | 0 | 33 | 0 |
| V F CORP | COM | 918204108 |  | 2696 | 36 | SH |  | SOLE |  | 0 | 36 | 0 |
| VERIFONE SYS INC | COM | 92342Y109 |  | 116931 | 3145 | SH |  | SOLE |  | 0 | 3071 | 74 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 611387 | 13075 | SH |  | SOLE |  | 0 | 11581 | 1494 |
| VERISK ANALYTICS INC | CL A | 92345Y106 |  | 398586 | 6225 | SH |  | SOLE |  | 0 | 5404 | 821 |
| VERMILION ENERGY INC | COM | 923725105 |  | 630636 | 12931 | SH |  | SOLE |  | 0 | 11278 | 1653 |
| VISA INC | COM CL A | 92826C839 |  | 1649762 | 6292 | SH |  | SOLE |  | 0 | 5635 | 657 |
| VODAFONE GROUP PLC NEW | SPNSR ADR NO PAR | 92857W308 |  | 751 | 22 | SH |  | SOLE |  | 0 | 22 | 0 |
| WALGREEN CO | COM | 931422109 |  | 5931 | 78 | SH |  | SOLE |  | 0 | 78 | 0 |
| WALGREENS BOOTS ALLIANCE INC | COM | 931427108 |  | 727708 | 9555 | SH |  | SOLE |  | 0 | 8307 | 1248 |
| WELLS FARGO  CO NEW | COM | 949746101 |  | 1648437 | 30070 | SH |  | SOLE |  | 0 | 26085 | 3985 |
| WESTPAC BKG CORP | SPONSORED ADR | 961214301 |  | 698664 | 25992 | SH |  | SOLE |  | 0 | 22714 | 3278 |
| WEYERHAEUSER CO | COM | 962166104 |  | 118221 | 3294 | SH |  | SOLE |  | 0 | 3234 | 60 |
| WILLIAMS COS INC DEL | COM | 969457100 |  | 4132 | 92 | SH |  | SOLE |  | 0 | 92 | 0 |
| WYNN RESORTS LTD | COM | 983134107 |  | 1784 | 12 | SH |  | SOLE |  | 0 | 12 | 0 |
| XYLEM INC | COM | 98419M100 |  | 141698 | 3724 | SH |  | SOLE |  | 0 | 3635 | 89 |
| YUM BRANDS INC | COM | 988498101 |  | 220632 | 3029 | SH |  | SOLE |  | 0 | 2956 | 73 |
| BROOKFIELD PPTY PARTNERS L P | UNIT LTD PARTN | G16249107 |  | 69175 | 3039 | SH |  | SOLE |  | 0 | 2839 | 200 |
| BROOKFIELD INFRAST PARTNERS | LP INT UNIT | G16252101 |  | 312219 | 7465 | SH |  | SOLE |  | 0 | 6399 | 1066 |
| BROOKFIELD RENEWABLE ENRGY P | PARTNERSHIP UNIT | G16258108 |  | 91171 | 2951 | SH |  | SOLE |  | 0 | 2622 | 329 |
| EATON CORP PLC | SHS | G29183103 |  | 3736 | 55 | SH |  | SOLE |  | 0 | 55 | 0 |
| HERBALIFE LTD | COM USD SHS | G4412G101 |  | 753 | 20 | SH |  | SOLE |  | 0 | 20 | 0 |
| WEATHERFORD INTL PLC | ORD SHS | G48833100 |  | 70932 | 6195 | SH |  | SOLE |  | 0 | 6061 | 134 |
| SEADRILL LIMITED | SHS | G7945E105 |  | 978 | 82 | SH |  | SOLE |  | 0 | 82 | 0 |
| SEAGATE TECHNOLOGY PLC | SHS | G7945M107 |  | 770153 | 11583 | SH |  | SOLE |  | 0 | 10042 | 1541 |
| GARMIN LTD | SHS | H2906T109 |  | 326374 | 6179 | SH |  | SOLE |  | 0 | 5383 | 796 |
| TRONOX LTD | SHS CL A | Q9235V101 |  | 70822 | 2967 | SH |  | SOLE |  | 0 | 2900 | 67 |

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