# EDGAR Filing Document

**Accession Number:** 0002033536
**File Stem:** 0002033536-25-000043
**Filing Date:** 2025-7
**Character Count:** 38711
**Document Hash:** 3abfac392f1b18eeb1fd60af80d0bc10
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002033536-25-000043.hdr.sgml**: 20250708

**ACCESSION NUMBER**: 0002033536-25-000043

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20180930

**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:** 251110460

**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:** 09-30-2018

**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:** 364

**Form 13F Information Table Value Total:** $1593906997

      (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 |
| ADT INC | COM | 00090Q103 |  | 795329 | 84700 | SH |  | SOLE |  | 84700 | 0 | 0 |
| AFLAC INC | COM | 001055102 |  | 4748823 | 100889 | SH |  | SOLE |  | 100889 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 7288606 | 217053 | SH |  | SOLE |  | 217053 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 |  | 4832494 | 65874 | SH |  | SOLE |  | 65874 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 2204176 | 23305 | SH |  | SOLE |  | 23305 | 0 | 0 |
| ABIOMED INC | COM | 003654100 |  | 44974 | 100 | SH |  | SOLE |  | 100 | 0 | 0 |
| ACUITY BRANDS INC | COM | 00508Y102 |  | 2643463 | 16816 | SH |  | SOLE |  | 16816 | 0 | 0 |
| ACUSHNET HOLDINGS CORP | COM | 005098108 |  | 76803 | 2800 | SH |  | SOLE |  | 2800 | 0 | 0 |
| ADOBE SYS INC | COM | 00724F101 |  | 3350334 | 12411 | SH |  | SOLE |  | 12411 | 0 | 0 |
| AETNA INC NEW | COM | 00817Y108 |  | 5731906 | 28257 | SH |  | SOLE |  | 28257 | 0 | 0 |
| AGILENT TECHNOLOGIES INC | COM | 00846U101 |  | 7182138 | 101817 | SH |  | SOLE |  | 101817 | 0 | 0 |
| AIR PRODS  CHEMS INC | COM | 009158106 |  | 2706197 | 16200 | SH |  | SOLE |  | 16200 | 0 | 0 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 7032748 | 42685 | SH |  | SOLE |  | 42685 | 0 | 0 |
| ALIGN TECHNOLOGY INC | COM | 016255101 |  | 38339 | 98 | SH |  | SOLE |  | 98 | 0 | 0 |
| ALLSTATE CORP | COM | 020002101 |  | 4284251 | 43407 | SH |  | SOLE |  | 43407 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 5096093 | 4270 | SH |  | SOLE |  | 4270 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 9459842 | 7837 | SH |  | SOLE |  | 7837 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 11895762 | 5939 | SH |  | SOLE |  | 5939 | 0 | 0 |
| AMERICAN ELEC PWR INC | COM | 025537101 |  | 2642748 | 37285 | SH |  | SOLE |  | 37285 | 0 | 0 |
| AMERICAN FINL GROUP INC OHIO | COM | 025932104 |  | 979860 | 8830 | SH |  | SOLE |  | 8830 | 0 | 0 |
| AMERICAN INTL GROUP INC | COM NEW | 026874784 |  | 2805149 | 52689 | SH |  | SOLE |  | 52689 | 0 | 0 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 1454301 | 10009 | SH |  | SOLE |  | 10009 | 0 | 0 |
| AMERICAN WTR WKS CO INC NEW | COM | 030420103 |  | 9490072 | 107879 | SH |  | SOLE |  | 107879 | 0 | 0 |
| AMERIGAS PARTNERS L P | UNIT L P INT | 030975106 |  | 2793897 | 70714 | SH |  | SOLE |  | 70714 | 0 | 0 |
| AMETEK INC NEW | COM | 031100100 |  | 2907488 | 36748 | SH |  | SOLE |  | 36748 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 9827366 | 47409 | SH |  | SOLE |  | 47409 | 0 | 0 |
| ANALOG DEVICES INC | COM | 032654105 |  | 1659649 | 17950 | SH |  | SOLE |  | 17950 | 0 | 0 |
| ANTHEM INC | COM | 036752103 |  | 5491114 | 20037 | SH |  | SOLE |  | 20037 | 0 | 0 |
| APOLLO GLOBAL MGMT LLC | CL A SHS | 037612306 |  | 1646818 | 47665 | SH |  | SOLE |  | 47665 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 14136902 | 62625 | SH |  | SOLE |  | 62625 | 0 | 0 |
| ARAMARK | COM | 03852U106 |  | 3190434 | 74162 | SH |  | SOLE |  | 74162 | 0 | 0 |
| AUTODESK INC | COM | 052769106 |  | 4129402 | 26452 | SH |  | SOLE |  | 26452 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 512241 | 3400 | SH |  | SOLE |  | 3400 | 0 | 0 |
| AUTOZONE INC | COM | 053332102 |  | 1700326 | 2192 | SH |  | SOLE |  | 2192 | 0 | 0 |
| AVERY DENNISON CORP | COM | 053611109 |  | 1007650 | 9300 | SH |  | SOLE |  | 9300 | 0 | 0 |
| BB CORP | COM | 054937107 |  | 5957384 | 122732 | SH |  | SOLE |  | 122732 | 0 | 0 |
| BCE INC | COM NEW | 05534B760 |  | 16990429 | 419373 | SH |  | SOLE |  | 419373 | 0 | 0 |
| BAIDU INC | SPON ADR REP A | 056752108 |  | 1302326 | 5695 | SH |  | SOLE |  | 5695 | 0 | 0 |
| BALL CORP | COM | 058498106 |  | 1500052 | 34100 | SH |  | SOLE |  | 34100 | 0 | 0 |
| BANCO MACRO SA | SPON ADR B | 05961W105 |  | 176690 | 4271 | SH |  | SOLE |  | 4271 | 0 | 0 |
| BANK AMER CORP | COM | 060505104 |  | 5373302 | 182394 | SH |  | SOLE |  | 182394 | 0 | 0 |
| BANK MONTREAL QUE | COM | 063671101 |  | 5356051 | 64935 | SH |  | SOLE |  | 64935 | 0 | 0 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 42015 | 824 | SH |  | SOLE |  | 824 | 0 | 0 |
| BANK N S HALIFAX | COM | 064149107 |  | 60978197 | 1023027 | SH |  | SOLE |  | 1023027 | 0 | 0 |
| BAXTER INTL INC | COM | 071813109 |  | 6547069 | 84928 | SH |  | SOLE |  | 84928 | 0 | 0 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 2746490 | 10523 | SH |  | SOLE |  | 10523 | 0 | 0 |
| BEIGENE LTD | SPONSORED ADR | 07725L102 |  | 751220 | 4362 | SH |  | SOLE |  | 4362 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 3249746 | 15178 | SH |  | SOLE |  | 15178 | 0 | 0 |
| BIO RAD LABS INC | CL A | 090572207 |  | 62597 | 200 | SH |  | SOLE |  | 200 | 0 | 0 |
| BIOMARIN PHARMACEUTICAL INC | COM | 09061G101 |  | 77575 | 800 | SH |  | SOLE |  | 800 | 0 | 0 |
| BIOGEN INC | COM | 09062X103 |  | 5374527 | 15212 | SH |  | SOLE |  | 15212 | 0 | 0 |
| BLACK HILLS CORP | COM | 092113109 |  | 2151585 | 37039 | SH |  | SOLE |  | 37039 | 0 | 0 |
| BLACKROCK INC | COM | 09247X101 |  | 34878 | 74 | SH |  | SOLE |  | 74 | 0 | 0 |
| BLACKSTONE GROUP L P | COM UNIT LTD | 09253U108 |  | 3318961 | 87158 | SH |  | SOLE |  | 87158 | 0 | 0 |
| BOEING CO | COM | 097023105 |  | 2457503 | 6608 | SH |  | SOLE |  | 6608 | 0 | 0 |
| BOOZ ALLEN HAMILTON HLDG COR | CL A | 099502106 |  | 2425704 | 48876 | SH |  | SOLE |  | 48876 | 0 | 0 |
| BRISTOL MYERS SQUIBB CO | COM | 110122108 |  | 3668290 | 59090 | SH |  | SOLE |  | 59090 | 0 | 0 |
| BROADRIDGE FINL SOLUTIONS IN | COM | 11133T103 |  | 769264 | 5830 | SH |  | SOLE |  | 5830 | 0 | 0 |
| BROWN  BROWN INC | COM | 115236101 |  | 1537928 | 52010 | SH |  | SOLE |  | 52010 | 0 | 0 |
| CDW CORP | COM | 12514G108 |  | 1021686 | 11490 | SH |  | SOLE |  | 11490 | 0 | 0 |
| CIGNA CORPORATION | COM | 125509109 |  | 9070079 | 43554 | SH |  | SOLE |  | 43554 | 0 | 0 |
| CME GROUP INC | COM CL A | 12572Q105 |  | 1453586 | 8540 | SH |  | SOLE |  | 8540 | 0 | 0 |
| CNA FINL CORP | COM | 126117100 |  | 2623584 | 57472 | SH |  | SOLE |  | 57472 | 0 | 0 |
| CSG SYS INTL INC | COM | 126349109 |  | 1372781 | 34200 | SH |  | SOLE |  | 34200 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 1953821 | 24820 | SH |  | SOLE |  | 24820 | 0 | 0 |
| CALLAWAY GOLF CO | COM | 131193104 |  | 75298 | 3100 | SH |  | SOLE |  | 3100 | 0 | 0 |
| CDN IMPERIAL BK COMM TORONTO | COM | 136069101 |  | 31842087 | 339825 | SH |  | SOLE |  | 339825 | 0 | 0 |
| CANADIAN NATL RY CO | COM | 136375102 |  | 13500652 | 150459 | SH |  | SOLE |  | 150459 | 0 | 0 |
| CANADIAN NAT RES LTD | COM | 136385101 |  | 19523679 | 597580 | SH |  | SOLE |  | 597580 | 0 | 0 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 2018962 | 21268 | SH |  | SOLE |  | 21268 | 0 | 0 |
| CARLYLE GROUP L P | COM UTS LTD PTN | 14309L102 |  | 69904 | 3100 | SH |  | SOLE |  | 3100 | 0 | 0 |
| CEDAR FAIR L P | DEPOSITRY UNIT | 150185106 |  | 2854491 | 54810 | SH |  | SOLE |  | 54810 | 0 | 0 |
| CELGENE CORP | COM | 151020104 |  | 53693 | 600 | SH |  | SOLE |  | 600 | 0 | 0 |
| CENTENE CORP DEL | COM | 15135B101 |  | 115823 | 800 | SH |  | SOLE |  | 800 | 0 | 0 |
| CENOVUS ENERGY INC | COM | 15135U109 |  | 25321282 | 2521695 | SH |  | SOLE |  | 2521695 | 0 | 0 |
| CERNER CORP | COM | 156782104 |  | 734270 | 11400 | SH |  | SOLE |  | 11400 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 5710816 | 46703 | SH |  | SOLE |  | 46703 | 0 | 0 |
| CINEMARK HOLDINGS INC | COM | 17243V102 |  | 3964304 | 98615 | SH |  | SOLE |  | 98615 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 11086457 | 227883 | SH |  | SOLE |  | 227883 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 3646097 | 50824 | SH |  | SOLE |  | 50824 | 0 | 0 |
| CLOROX CO DEL | COM | 189054109 |  | 857333 | 5700 | SH |  | SOLE |  | 5700 | 0 | 0 |
| CLOVIS ONCOLOGY INC | COM | 189464100 |  | 26432 | 900 | SH |  | SOLE |  | 900 | 0 | 0 |
| COGNEX CORP | COM | 192422103 |  | 897414 | 16077 | SH |  | SOLE |  | 16077 | 0 | 0 |
| COGNIZANT TECHNOLOGY SOLUTIO | CL A | 192446102 |  | 1380978 | 17900 | SH |  | SOLE |  | 17900 | 0 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 2651207 | 39600 | SH |  | SOLE |  | 39600 | 0 | 0 |
| COLLIERS INTL GROUP INC | SUB VTG SHS | 194693107 |  | 18288466 | 236106 | SH |  | SOLE |  | 236106 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 5993433 | 169259 | SH |  | SOLE |  | 169259 | 0 | 0 |
| COMERICA INC | COM | 200340107 |  | 4403092 | 48815 | SH |  | SOLE |  | 48815 | 0 | 0 |
| CONAGRA BRANDS INC | COM | 205887102 |  | 1834371 | 54000 | SH |  | SOLE |  | 54000 | 0 | 0 |
| COOPER COS INC | COM NEW | 216648402 |  | 83144 | 300 | SH |  | SOLE |  | 300 | 0 | 0 |
| COPART INC | COM | 217204106 |  | 1155297 | 22420 | SH |  | SOLE |  | 22420 | 0 | 0 |
| CORNING INC | COM | 219350105 |  | 8222073 | 232921 | SH |  | SOLE |  | 232921 | 0 | 0 |
| CRESCENT PT ENERGY CORP | COM | 22576C101 |  | 5847071 | 918784 | SH |  | SOLE |  | 918784 | 0 | 0 |
| CUBESMART | COM | 229663109 |  | 798265 | 27980 | SH |  | SOLE |  | 27980 | 0 | 0 |
| CUMMINS INC | COM | 231021106 |  | 3799117 | 26009 | SH |  | SOLE |  | 26009 | 0 | 0 |
| DXC TECHNOLOGY CO | COM | 23355L106 |  | 1701682 | 18196 | SH |  | SOLE |  | 18196 | 0 | 0 |
| DANAHER CORP DEL | COM | 235851102 |  | 12569622 | 115679 | SH |  | SOLE |  | 115679 | 0 | 0 |
| DARDEN RESTAURANTS INC | COM | 237194105 |  | 1223084 | 11000 | SH |  | SOLE |  | 11000 | 0 | 0 |
| DECKERS OUTDOOR CORP | COM | 243537107 |  | 1067215 | 9000 | SH |  | SOLE |  | 9000 | 0 | 0 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 4131703 | 71446 | SH |  | SOLE |  | 71446 | 0 | 0 |
| DEVON ENERGY CORP NEW | COM | 25179M103 |  | 2058697 | 51545 | SH |  | SOLE |  | 51545 | 0 | 0 |
| DICKS SPORTING GOODS INC | COM | 253393102 |  | 2151816 | 60649 | SH |  | SOLE |  | 60649 | 0 | 0 |
| DISNEY WALT CO | COM DISNEY | 254687106 |  | 4459486 | 38135 | SH |  | SOLE |  | 38135 | 0 | 0 |
| DOLLAR GEN CORP NEW | COM | 256677105 |  | 546497 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| DOWDUPONT INC | COM | 26078J100 |  | 3669125 | 57054 | SH |  | SOLE |  | 57054 | 0 | 0 |
| EOG RES INC | COM | 26875P101 |  | 4481641 | 35131 | SH |  | SOLE |  | 35131 | 0 | 0 |
| EAGLE MATERIALS INC | COM | 26969P108 |  | 1930762 | 22651 | SH |  | SOLE |  | 22651 | 0 | 0 |
| EAST WEST BANCORP INC | COM | 27579R104 |  | 2101288 | 34807 | SH |  | SOLE |  | 34807 | 0 | 0 |
| ECOLAB INC | COM | 278865100 |  | 11577366 | 73845 | SH |  | SOLE |  | 73845 | 0 | 0 |
| EDWARDS LIFESCIENCES CORP | COM | 28176E108 |  | 108812 | 625 | SH |  | SOLE |  | 625 | 0 | 0 |
| EMERSON ELEC CO | COM | 291011104 |  | 3380838 | 44148 | SH |  | SOLE |  | 44148 | 0 | 0 |
| ENBRIDGE INC | COM | 29250N105 |  | 22586445 | 699950 | SH |  | SOLE |  | 699950 | 0 | 0 |
| ENERPLUS CORP | COM | 292766102 |  | 2205934 | 178640 | SH |  | SOLE |  | 178640 | 0 | 0 |
| EXELON CORP | COM | 30161N101 |  | 2466211 | 56487 | SH |  | SOLE |  | 56487 | 0 | 0 |
| EXTENDED STAY AMER INC | UNIT 99/99/9999B | 30224P200 |  | 5366023 | 265252 | SH |  | SOLE |  | 265252 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 4903165 | 57671 | SH |  | SOLE |  | 57671 | 0 | 0 |
| FACEBOOK INC | CL A | 30303M102 |  | 2063305 | 12546 | SH |  | SOLE |  | 12546 | 0 | 0 |
| FASTENAL CO | COM | 311900104 |  | 7364560 | 126932 | SH |  | SOLE |  | 126932 | 0 | 0 |
| FIDELITY NATL INFORMATION SV | COM | 31620M106 |  | 4614730 | 42310 | SH |  | SOLE |  | 42310 | 0 | 0 |
| FIDELITY NATIONAL FINANCIAL | FNF GROUP COM | 31620R303 |  | 2706323 | 68776 | SH |  | SOLE |  | 68776 | 0 | 0 |
| 58 COM INC | SPON ADR REP A | 31680Q104 |  | 552071 | 7501 | SH |  | SOLE |  | 7501 | 0 | 0 |
| FIRST REP BK SAN FRANCISCO C | COM | 33616C100 |  | 1420505 | 14797 | SH |  | SOLE |  | 14797 | 0 | 0 |
| FIRSTSERVICE CORP NEW | SUB VTG SH | 33767E103 |  | 22748598 | 269251 | SH |  | SOLE |  | 269251 | 0 | 0 |
| FISERV INC | COM | 337738108 |  | 944070 | 11460 | SH |  | SOLE |  | 11460 | 0 | 0 |
| FLEXION THERAPEUTICS INC | COM | 33938J106 |  | 31806 | 1700 | SH |  | SOLE |  | 1700 | 0 | 0 |
| FORD MTR CO DEL | COM PAR $0.01 | 345370860 |  | 1997241 | 215919 | SH |  | SOLE |  | 215919 | 0 | 0 |
| FORTIS INC | COM | 349553107 |  | 14677727 | 452688 | SH |  | SOLE |  | 452688 | 0 | 0 |
| FORTIVE CORP | COM | 34959J108 |  | 4080902 | 48467 | SH |  | SOLE |  | 48467 | 0 | 0 |
| FORTUNE BRANDS HOME  SEC IN | COM | 34964C106 |  | 73303 | 1400 | SH |  | SOLE |  | 1400 | 0 | 0 |
| FORTUNA SILVER MINES INC | COM | 349915108 |  | 3137592 | 718562 | SH |  | SOLE |  | 718562 | 0 | 0 |
| GEO GROUP INC NEW | COM | 36162J106 |  | 2737445 | 108802 | SH |  | SOLE |  | 108802 | 0 | 0 |
| GENERAL ELECTRIC CO | COM | 369604103 |  | 1667017 | 147655 | SH |  | SOLE |  | 147655 | 0 | 0 |
| GENERAL MTRS CO | COM | 37045V100 |  | 5214280 | 154865 | SH |  | SOLE |  | 154865 | 0 | 0 |
| GENTEX CORP | COM | 371901109 |  | 2342713 | 109167 | SH |  | SOLE |  | 109167 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 4052888 | 52492 | SH |  | SOLE |  | 52492 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 4636813 | 20678 | SH |  | SOLE |  | 20678 | 0 | 0 |
| HDFC BANK LTD | ADR REPS 3 SHS | 40415F101 |  | 1437935 | 15281 | SH |  | SOLE |  | 15281 | 0 | 0 |
| HASBRO INC | COM | 418056107 |  | 714812 | 6800 | SH |  | SOLE |  | 6800 | 0 | 0 |
| HENRY JACK  ASSOC INC | COM | 426281101 |  | 1616800 | 10100 | SH |  | SOLE |  | 10100 | 0 | 0 |
| HERSHEY CO | COM | 427866108 |  | 2427588 | 23800 | SH |  | SOLE |  | 23800 | 0 | 0 |
| HESS CORP | COM | 42809H107 |  | 3722429 | 52004 | SH |  | SOLE |  | 52004 | 0 | 0 |
| HILTON GRAND VACATIONS INC | COM | 43283X105 |  | 661334 | 19980 | SH |  | SOLE |  | 19980 | 0 | 0 |
| HILTON WORLDWIDE HLDGS INC | COM | 43300A203 |  | 43782 | 542 | SH |  | SOLE |  | 542 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 4762978 | 22993 | SH |  | SOLE |  | 22993 | 0 | 0 |
| HOWARD HUGHES CORP | COM | 44267D107 |  | 2427620 | 19543 | SH |  | SOLE |  | 19543 | 0 | 0 |
| HUBBELL INC | COM | 443510607 |  | 7655796 | 57317 | SH |  | SOLE |  | 57317 | 0 | 0 |
| HUDBAY MINERALS INC | COM | 443628102 |  | 1229477 | 242823 | SH |  | SOLE |  | 242823 | 0 | 0 |
| HUMANA INC | COM | 444859102 |  | 101555 | 300 | SH |  | SOLE |  | 300 | 0 | 0 |
| HUNTINGTON BANCSHARES INC | COM | 446150104 |  | 993667 | 66600 | SH |  | SOLE |  | 66600 | 0 | 0 |
| IDEX CORP | COM | 45167R104 |  | 6619970 | 43940 | SH |  | SOLE |  | 43940 | 0 | 0 |
| INCYTE CORP | COM | 45337C102 |  | 45316 | 656 | SH |  | SOLE |  | 656 | 0 | 0 |
| ING GROEP N V | SPONSORED ADR | 456837103 |  | 914380 | 70500 | SH |  | SOLE |  | 70500 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 1850408 | 39125 | SH |  | SOLE |  | 39125 | 0 | 0 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 3393250 | 45310 | SH |  | SOLE |  | 45310 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 2177414 | 14400 | SH |  | SOLE |  | 14400 | 0 | 0 |
| INTL PAPER CO | COM | 460146103 |  | 820801 | 16700 | SH |  | SOLE |  | 16700 | 0 | 0 |
| INTERPUBLIC GROUP COS INC | COM | 460690100 |  | 3794595 | 165921 | SH |  | SOLE |  | 165921 | 0 | 0 |
| INTUIT | COM | 461202103 |  | 4627114 | 20348 | SH |  | SOLE |  | 20348 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 29847 | 52 | SH |  | SOLE |  | 52 | 0 | 0 |
| IQVIA HLDGS INC | COM | 46266C105 |  | 99380 | 766 | SH |  | SOLE |  | 766 | 0 | 0 |
| IRON MTN INC NEW | COM | 46284V101 |  | 5177527 | 149987 | SH |  | SOLE |  | 149987 | 0 | 0 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 9288566 | 59550 | SH |  | SOLE |  | 59550 | 0 | 0 |
| ITAU UNIBANCO HLDG SA | SPON ADR REP PFD | 465562106 |  | 1544022 | 140622 | SH |  | SOLE |  | 140622 | 0 | 0 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 8735017 | 77411 | SH |  | SOLE |  | 77411 | 0 | 0 |
| JETBLUE AIRWAYS CORP | COM | 477143101 |  | 81311 | 4200 | SH |  | SOLE |  | 4200 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 2688775 | 19460 | SH |  | SOLE |  | 19460 | 0 | 0 |
| KAR AUCTION SVCS INC | COM | 48238T109 |  | 6213521 | 104097 | SH |  | SOLE |  | 104097 | 0 | 0 |
| KKR  CO INC | CL A | 48251W104 |  | 1882984 | 69050 | SH |  | SOLE |  | 69050 | 0 | 0 |
| KELLOGG CO | COM | 487836108 |  | 1344377 | 19200 | SH |  | SOLE |  | 19200 | 0 | 0 |
| KIMBERLY CLARK CORP | COM | 494368103 |  | 5422080 | 47713 | SH |  | SOLE |  | 47713 | 0 | 0 |
| KINDER MORGAN INC DEL | COM | 49456B101 |  | 1054043 | 59450 | SH |  | SOLE |  | 59450 | 0 | 0 |
| KRAFT HEINZ CO | COM | 500754106 |  | 2605203 | 47273 | SH |  | SOLE |  | 47273 | 0 | 0 |
| L3 TECHNOLOGIES INC | COM | 502413107 |  | 1791315 | 8425 | SH |  | SOLE |  | 8425 | 0 | 0 |
| LABORATORY CORP AMER HLDGS | COM NEW | 50540R409 |  | 2942994 | 16945 | SH |  | SOLE |  | 16945 | 0 | 0 |
| LAM RESEARCH CORP | COM | 512807108 |  | 1408376 | 9284 | SH |  | SOLE |  | 9284 | 0 | 0 |
| LAMAR ADVERTISING CO NEW | CL A | 512816109 |  | 948377 | 12190 | SH |  | SOLE |  | 12190 | 0 | 0 |
| LAS VEGAS SANDS CORP | COM | 517834107 |  | 4928520 | 83070 | SH |  | SOLE |  | 83070 | 0 | 0 |
| LAUDER ESTEE COS INC | CL A | 518439104 |  | 755660 | 5200 | SH |  | SOLE |  | 5200 | 0 | 0 |
| LEGGETT  PLATT INC | COM | 524660107 |  | 1020302 | 23300 | SH |  | SOLE |  | 23300 | 0 | 0 |
| LIBERTY MEDIA CORP DELAWARE | COM A SIRIUSXM | 531229409 |  | 572536 | 13180 | SH |  | SOLE |  | 13180 | 0 | 0 |
| LILLY ELI  CO | COM | 532457108 |  | 1294152 | 12060 | SH |  | SOLE |  | 12060 | 0 | 0 |
| LOWES COS INC | COM | 548661107 |  | 1899458 | 16543 | SH |  | SOLE |  | 16543 | 0 | 0 |
| M  T BK CORP | COM | 55261F104 |  | 1465551 | 8907 | SH |  | SOLE |  | 8907 | 0 | 0 |
| MSG NETWORK INC | CL A | 553573106 |  | 1069069 | 41437 | SH |  | SOLE |  | 41437 | 0 | 0 |
| MADISON SQUARE GARDEN CO NEW | CL A | 55825T103 |  | 3109356 | 9861 | SH |  | SOLE |  | 9861 | 0 | 0 |
| MAGELLAN MIDSTREAM PRTNRS LP | COM UNIT RP LP | 559080106 |  | 3337632 | 49286 | SH |  | SOLE |  | 49286 | 0 | 0 |
| MAGNA INTL INC | COM | 559222401 |  | 11665534 | 222076 | SH |  | SOLE |  | 222076 | 0 | 0 |
| MANULIFE FINL CORP | COM | 56501R106 |  | 20587841 | 1151685 | SH |  | SOLE |  | 1151685 | 0 | 0 |
| MARATHON PETE CORP | COM | 56585A102 |  | 8350189 | 104417 | SH |  | SOLE |  | 104417 | 0 | 0 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 4614927 | 55790 | SH |  | SOLE |  | 55790 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 5891569 | 26466 | SH |  | SOLE |  | 26466 | 0 | 0 |
| MAXAR TECHNOLOGIES LTD | COM | 57778L103 |  | 14853115 | 450990 | SH |  | SOLE |  | 450990 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 5691179 | 34020 | SH |  | SOLE |  | 34020 | 0 | 0 |
| MELCO RESORT ENTERTAINMENT L | ADR | 585464100 |  | 839376 | 39687 | SH |  | SOLE |  | 39687 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 2707625 | 38168 | SH |  | SOLE |  | 38168 | 0 | 0 |
| MEREDITH CORP | COM | 589433101 |  | 1866838 | 36569 | SH |  | SOLE |  | 36569 | 0 | 0 |
| METLIFE INC | COM | 59156R108 |  | 2783237 | 59573 | SH |  | SOLE |  | 59573 | 0 | 0 |
| MICHAELS COS INC | COM | 59408Q106 |  | 548571 | 33800 | SH |  | SOLE |  | 33800 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 12513621 | 109414 | SH |  | SOLE |  | 109414 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 2492116 | 55099 | SH |  | SOLE |  | 55099 | 0 | 0 |
| MID AMER APT CMNTYS INC | COM | 59522J103 |  | 526944 | 5260 | SH |  | SOLE |  | 5260 | 0 | 0 |
| MOLSON COORS BREWING CO | CL B | 60871R209 |  | 2072110 | 33693 | SH |  | SOLE |  | 33693 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 2180257 | 46817 | SH |  | SOLE |  | 46817 | 0 | 0 |
| MOTOROLA SOLUTIONS INC | COM NEW | 620076307 |  | 2660179 | 20441 | SH |  | SOLE |  | 20441 | 0 | 0 |
| NATIONAL FUEL GAS CO N J | COM | 636180101 |  | 3001438 | 53540 | SH |  | SOLE |  | 53540 | 0 | 0 |
| NATIONAL VISION HLDGS INC | COM | 63845R107 |  | 49653 | 1100 | SH |  | SOLE |  | 1100 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 37412 | 100 | SH |  | SOLE |  | 100 | 0 | 0 |
| NETEASE INC | SPONSORED ADR | 64110W102 |  | 797958 | 3496 | SH |  | SOLE |  | 3496 | 0 | 0 |
| NEUROCRINE BIOSCIENCES INC | COM | 64125C109 |  | 73769 | 600 | SH |  | SOLE |  | 600 | 0 | 0 |
| NEVRO CORP | COM | 64157F103 |  | 45599 | 800 | SH |  | SOLE |  | 800 | 0 | 0 |
| NEW ORIENTAL ED  TECH GRP I | SPON ADR | 647581107 |  | 1602383 | 21651 | SH |  | SOLE |  | 21651 | 0 | 0 |
| NEWELL BRANDS INC | COM | 651229106 |  | 1475803 | 72700 | SH |  | SOLE |  | 72700 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 2657453 | 15856 | SH |  | SOLE |  | 15856 | 0 | 0 |
| NICE LTD | SPONSORED ADR | 653656108 |  | 4820882 | 42115 | SH |  | SOLE |  | 42115 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 940387 | 11100 | SH |  | SOLE |  | 11100 | 0 | 0 |
| NISOURCE INC | COM | 65473P105 |  | 4171588 | 167400 | SH |  | SOLE |  | 167400 | 0 | 0 |
| NORFOLK SOUTHERN CORP | COM | 655844108 |  | 4269707 | 23655 | SH |  | SOLE |  | 23655 | 0 | 0 |
| NORTHERN TR CORP | COM | 665859104 |  | 61277 | 600 | SH |  | SOLE |  | 600 | 0 | 0 |
| NUTRIEN LTD | COM | 67077M108 |  | 22851117 | 395760 | SH |  | SOLE |  | 395760 | 0 | 0 |
| O REILLY AUTOMOTIVE INC NEW | COM | 67103H107 |  | 5869333 | 16899 | SH |  | SOLE |  | 16899 | 0 | 0 |
| OASIS PETE INC NEW | COM | 674215108 |  | 2798055 | 197325 | SH |  | SOLE |  | 197325 | 0 | 0 |
| OCCIDENTAL PETE CORP DEL | COM | 674599105 |  | 3131073 | 38105 | SH |  | SOLE |  | 38105 | 0 | 0 |
| OMNICOM GROUP INC | COM | 681919106 |  | 5579042 | 82021 | SH |  | SOLE |  | 82021 | 0 | 0 |
| ONEOK INC NEW | COM | 682680103 |  | 969392 | 14300 | SH |  | SOLE |  | 14300 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 3146434 | 61025 | SH |  | SOLE |  | 61025 | 0 | 0 |
| PJT PARTNERS INC | COM CL A | 69343T107 |  | 135742 | 2593 | SH |  | SOLE |  | 2593 | 0 | 0 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 4642423 | 34088 | SH |  | SOLE |  | 34088 | 0 | 0 |
| PPG INDS INC | COM | 693506107 |  | 1058556 | 9700 | SH |  | SOLE |  | 9700 | 0 | 0 |
| PTC INC | COM | 69370C100 |  | 6946811 | 65419 | SH |  | SOLE |  | 65419 | 0 | 0 |
| PACKAGING CORP AMER | COM | 695156109 |  | 3094340 | 28210 | SH |  | SOLE |  | 28210 | 0 | 0 |
| PARK HOTELS RESORTS INC | COM | 700517105 |  | 0 | 0 | SH |  | SOLE |  | 0 | 0 | 0 |
| PAYCHEX INC | COM | 704326107 |  | 2637394 | 35810 | SH |  | SOLE |  | 35810 | 0 | 0 |
| PEOPLES UNITED FINANCIAL INC | COM | 712704105 |  | 4132749 | 241400 | SH |  | SOLE |  | 241400 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 5555093 | 49688 | SH |  | SOLE |  | 49688 | 0 | 0 |
| PETROLEO BRASILEIRO SA PETRO | SPONSORED ADR | 71654V408 |  | 830158 | 68779 | SH |  | SOLE |  | 68779 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 6585305 | 149429 | SH |  | SOLE |  | 149429 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 2673684 | 32790 | SH |  | SOLE |  | 32790 | 0 | 0 |
| POLARIS INDS INC | COM | 731068102 |  | 1514142 | 14999 | SH |  | SOLE |  | 14999 | 0 | 0 |
| PRAXAIR INC | COM | 74005P104 |  | 14445060 | 89872 | SH |  | SOLE |  | 89872 | 0 | 0 |
| PRECISION DRILLING CORP | COM 2010 | 74022D308 |  | 5716826 | 1655644 | SH |  | SOLE |  | 1655644 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 10137367 | 121800 | SH |  | SOLE |  | 121800 | 0 | 0 |
| PROGRESSIVE CORP OHIO | COM | 743315103 |  | 1065595 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| PROLOGIS INC | COM | 74340W103 |  | 1265091 | 18662 | SH |  | SOLE |  | 18662 | 0 | 0 |
| PRUDENTIAL FINL INC | COM | 744320102 |  | 2525490 | 24926 | SH |  | SOLE |  | 24926 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 4425647 | 61442 | SH |  | SOLE |  | 61442 | 0 | 0 |
| QUEST DIAGNOSTICS INC | COM | 74834L100 |  | 1931580 | 17900 | SH |  | SOLE |  | 17900 | 0 | 0 |
| RPM INTL INC | COM | 749685103 |  | 3319717 | 51120 | SH |  | SOLE |  | 51120 | 0 | 0 |
| RAYTHEON CO | COM NEW | 755111507 |  | 2329874 | 11274 | SH |  | SOLE |  | 11274 | 0 | 0 |
| REGIONS FINL CORP NEW | COM | 7591EP100 |  | 2127636 | 115948 | SH |  | SOLE |  | 115948 | 0 | 0 |
| REPUBLIC SVCS INC | COM | 760759100 |  | 1896344 | 26099 | SH |  | SOLE |  | 26099 | 0 | 0 |
| RESMED INC | COM | 761152107 |  | 576697 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 1406393 | 7500 | SH |  | SOLE |  | 7500 | 0 | 0 |
| ROGERS COMMUNICATIONS INC | CL B | 775109200 |  | 21456743 | 417202 | SH |  | SOLE |  | 417202 | 0 | 0 |
| ROSS STORES INC | COM | 778296103 |  | 2968923 | 29959 | SH |  | SOLE |  | 29959 | 0 | 0 |
| ROYAL BK CDA MONTREAL QUE | COM | 780087102 |  | 14215692 | 177340 | SH |  | SOLE |  | 177340 | 0 | 0 |
| ROYAL DUTCH SHELL PLC | SPON ADR B | 780259107 |  | 2224070 | 31356 | SH |  | SOLE |  | 31356 | 0 | 0 |
| ROYAL DUTCH SHELL PLC | SPONS ADR A | 780259206 |  | 2485054 | 36470 | SH |  | SOLE |  | 36470 | 0 | 0 |
| RYMAN HOSPITALITY PPTYS INC | COM | 78377T107 |  | 3189912 | 37019 | SH |  | SOLE |  | 37019 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 742478 | 3800 | SH |  | SOLE |  | 3800 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG BRCLYS | 78464A417 |  | 9753282 | 270550 | SH |  | SOLE |  | 270550 | 0 | 0 |
| SABRA HEALTH CARE REIT INC | COM | 78573L106 |  | 3095915 | 133907 | SH |  | SOLE |  | 133907 | 0 | 0 |
| SALESFORCE COM INC | COM | 79466L302 |  | 3349951 | 21065 | SH |  | SOLE |  | 21065 | 0 | 0 |
| SAP SE | SPON ADR | 803054204 |  | 2150645 | 17485 | SH |  | SOLE |  | 17485 | 0 | 0 |
| SEALED AIR CORP NEW | COM | 81211K100 |  | 12132672 | 302185 | SH |  | SOLE |  | 302185 | 0 | 0 |
| SERVICE CORP INTL | COM | 817565104 |  | 88399 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| SHAW COMMUNICATIONS INC | CL B CONV | 82028K200 |  | 7793515 | 399942 | SH |  | SOLE |  | 399942 | 0 | 0 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 1231792 | 2706 | SH |  | SOLE |  | 2706 | 0 | 0 |
| SHOPIFY INC | CL A | 82509L107 |  | 3078512 | 18730 | SH |  | SOLE |  | 18730 | 0 | 0 |
| SKYWORKS SOLUTIONS INC | COM | 83088M102 |  | 1703163 | 18776 | SH |  | SOLE |  | 18776 | 0 | 0 |
| SOTHEBYS | COM | 835898107 |  | 54108 | 1100 | SH |  | SOLE |  | 1100 | 0 | 0 |
| SOUTHWEST AIRLS CO | COM | 844741108 |  | 5907805 | 94601 | SH |  | SOLE |  | 94601 | 0 | 0 |
| SPECTRA ENERGY PARTNERS LP | COM | 84756N109 |  | 2635528 | 73804 | SH |  | SOLE |  | 73804 | 0 | 0 |
| STANLEY BLACK  DECKER INC | COM | 854502101 |  | 1317953 | 9000 | SH |  | SOLE |  | 9000 | 0 | 0 |
| STANTEC INC | COM | 85472N109 |  | 23866163 | 959442 | SH |  | SOLE |  | 959442 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 5112905 | 89953 | SH |  | SOLE |  | 89953 | 0 | 0 |
| STATE STR CORP | COM | 857477103 |  | 2462450 | 29392 | SH |  | SOLE |  | 29392 | 0 | 0 |
| SUN CMNTYS INC | COM | 866674104 |  | 645791 | 6360 | SH |  | SOLE |  | 6360 | 0 | 0 |
| SUN LIFE FINL INC | COM | 866796105 |  | 16863745 | 424190 | SH |  | SOLE |  | 424190 | 0 | 0 |
| SUNCOR ENERGY INC NEW | COM | 867224107 |  | 9689958 | 250422 | SH |  | SOLE |  | 250422 | 0 | 0 |
| SYSCO CORP | COM | 871829107 |  | 4288255 | 58543 | SH |  | SOLE |  | 58543 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 6876204 | 61384 | SH |  | SOLE |  | 61384 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADR | 874039100 |  | 3800348 | 86059 | SH |  | SOLE |  | 86059 | 0 | 0 |
| TARGET CORP | COM | 87612E106 |  | 6687786 | 75817 | SH |  | SOLE |  | 75817 | 0 | 0 |
| TELUS CORP | COM | 87971M103 |  | 16930785 | 459331 | SH |  | SOLE |  | 459331 | 0 | 0 |
| TEVA PHARMACEUTICAL INDS LTD | SPONSORED ADR | 881624209 |  | 2389442 | 110931 | SH |  | SOLE |  | 110931 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 4034085 | 37600 | SH |  | SOLE |  | 37600 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 5301149 | 21719 | SH |  | SOLE |  | 21719 | 0 | 0 |
| THOR INDS INC | COM | 885160101 |  | 75329 | 900 | SH |  | SOLE |  | 900 | 0 | 0 |
| 3M CO | COM | 88579Y101 |  | 6980158 | 33127 | SH |  | SOLE |  | 33127 | 0 | 0 |
| TORONTO DOMINION BK ONT | COM NEW | 891160509 |  | 51035859 | 839848 | SH |  | SOLE |  | 839848 | 0 | 0 |
| TOTAL SYS SVCS INC | COM | 891906109 |  | 2649873 | 26837 | SH |  | SOLE |  | 26837 | 0 | 0 |
| TRANSMONTAIGNE PARTNERS L P | COM UNIT L P | 89376V100 |  | 2209543 | 57391 | SH |  | SOLE |  | 57391 | 0 | 0 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 4149274 | 31989 | SH |  | SOLE |  | 31989 | 0 | 0 |
| TRIMBLE INC | COM | 896239100 |  | 7205417 | 165795 | SH |  | SOLE |  | 165795 | 0 | 0 |
| UGI CORP NEW | COM | 902681105 |  | 2354615 | 42441 | SH |  | SOLE |  | 42441 | 0 | 0 |
| US BANCORP DEL | COM NEW | 902973304 |  | 6011070 | 113825 | SH |  | SOLE |  | 113825 | 0 | 0 |
| UNILEVER PLC | SPON ADR NEW | 904767704 |  | 3300658 | 60045 | SH |  | SOLE |  | 60045 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 9500435 | 58346 | SH |  | SOLE |  | 58346 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 4563853 | 39091 | SH |  | SOLE |  | 39091 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 13297682 | 49984 | SH |  | SOLE |  | 49984 | 0 | 0 |
| UNIVERSAL DISPLAY CORP | COM | 91347P105 |  | 623216 | 5286 | SH |  | SOLE |  | 5286 | 0 | 0 |
| UNUM GROUP | COM | 91529Y106 |  | 78139 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| V F CORP | COM | 918204108 |  | 1120460 | 11990 | SH |  | SOLE |  | 11990 | 0 | 0 |
| VAIL RESORTS INC | COM | 91879Q109 |  | 37869 | 138 | SH |  | SOLE |  | 138 | 0 | 0 |
| VALE S A | ADR | 91912E105 |  | 1751616 | 118034 | SH |  | SOLE |  | 118034 | 0 | 0 |
| VALERO ENERGY CORP NEW | COM | 91913Y100 |  | 2724982 | 23956 | SH |  | SOLE |  | 23956 | 0 | 0 |
| VAREX IMAGING CORP | COM | 92214X106 |  | 7797777 | 272080 | SH |  | SOLE |  | 272080 | 0 | 0 |
| VARIAN MED SYS INC | COM | 92220P105 |  | 1578205 | 14100 | SH |  | SOLE |  | 14100 | 0 | 0 |
| VENTAS INC | COM | 92276F100 |  | 3099102 | 56990 | SH |  | SOLE |  | 56990 | 0 | 0 |
| VERISIGN INC | COM | 92343E102 |  | 2823863 | 17636 | SH |  | SOLE |  | 17636 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 9648329 | 180715 | SH |  | SOLE |  | 180715 | 0 | 0 |
| VERISK ANALYTICS INC | COM | 92345Y106 |  | 1071684 | 8890 | SH |  | SOLE |  | 8890 | 0 | 0 |
| VERMILION ENERGY INC | COM | 923725105 |  | 6790919 | 206098 | SH |  | SOLE |  | 206098 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 7786783 | 51881 | SH |  | SOLE |  | 51881 | 0 | 0 |
| VODAFONE GROUP PLC NEW | SPONSORED ADR | 92857W308 |  | 3127151 | 144109 | SH |  | SOLE |  | 144109 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 6655934 | 70876 | SH |  | SOLE |  | 70876 | 0 | 0 |
| WALGREENS BOOTS ALLIANCE INC | COM | 931427108 |  | 5559182 | 76258 | SH |  | SOLE |  | 76258 | 0 | 0 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 14637078 | 161987 | SH |  | SOLE |  | 161987 | 0 | 0 |
| WATERS CORP | COM | 941848103 |  | 5933624 | 30479 | SH |  | SOLE |  | 30479 | 0 | 0 |
| WATSCO INC | COM | 942622200 |  | 945706 | 5310 | SH |  | SOLE |  | 5310 | 0 | 0 |
| WATTS WATER TECHNOLOGIES INC | CL A | 942749102 |  | 4318885 | 52035 | SH |  | SOLE |  | 52035 | 0 | 0 |
| WELBILT INC | COM | 949090104 |  | 2328255 | 111507 | SH |  | SOLE |  | 111507 | 0 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 5684495 | 108153 | SH |  | SOLE |  | 108153 | 0 | 0 |
| WESBANCO INC | COM | 950810101 |  | 3427027 | 76874 | SH |  | SOLE |  | 76874 | 0 | 0 |
| WESTERN DIGITAL CORP | COM | 958102105 |  | 645576 | 11028 | SH |  | SOLE |  | 11028 | 0 | 0 |
| WESTROCK CO | COM | 96145D105 |  | 7547403 | 141232 | SH |  | SOLE |  | 141232 | 0 | 0 |
| WEYERHAEUSER CO | COM | 962166104 |  | 5568356 | 172556 | SH |  | SOLE |  | 172556 | 0 | 0 |
| WINMARK CORP | COM | 974250102 |  | 8874651 | 53462 | SH |  | SOLE |  | 53462 | 0 | 0 |
| XYLEM INC | COM | 98419M100 |  | 9584196 | 119998 | SH |  | SOLE |  | 119998 | 0 | 0 |
| YUM BRANDS INC | COM | 988498101 |  | 1363643 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| ZIMMER BIOMET HLDGS INC | COM | 98956P102 |  | 2360533 | 17955 | SH |  | SOLE |  | 17955 | 0 | 0 |
| ZOETIS INC | CL A | 98978V103 |  | 4266127 | 46594 | SH |  | SOLE |  | 46594 | 0 | 0 |
| AIRCASTLE LTD | COM | G0129K104 |  | 3580603 | 163424 | SH |  | SOLE |  | 163424 | 0 | 0 |
| ALLEGION PUB LTD CO | ORD SHS | G0176J109 |  | 3661547 | 40428 | SH |  | SOLE |  | 40428 | 0 | 0 |
| ALLERGAN PLC | SHS | G0177J108 |  | 95239 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| AMDOCS LTD | SHS | G02602103 |  | 1595257 | 24178 | SH |  | SOLE |  | 24178 | 0 | 0 |
| ARCO PLATFORM LTD | COM CL A | G04553106 |  | 303854 | 13327 | SH |  | SOLE |  | 13327 | 0 | 0 |
| AXIS CAPITAL HOLDINGS LTD | SHS | G0692U109 |  | 2212822 | 38344 | SH |  | SOLE |  | 38344 | 0 | 0 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 3620818 | 21274 | SH |  | SOLE |  | 21274 | 0 | 0 |
| BROOKFIELD PPTY PARTNERS L P | UNIT LTD PARTN | G16249107 |  | 8129917 | 388784 | SH |  | SOLE |  | 388784 | 0 | 0 |
| BROOKFIELD RENEWABLE PARTNER | PARTNERSHIP UNIT | G16258108 |  | 2111759 | 69690 | SH |  | SOLE |  | 69690 | 0 | 0 |
| CREDICORP LTD | COM | G2519Y108 |  | 1364127 | 6115 | SH |  | SOLE |  | 6115 | 0 | 0 |
| COCA COLA EUROPEAN PARTNERS | SHS | G25839104 |  | 2391711 | 52600 | SH |  | SOLE |  | 52600 | 0 | 0 |
| DELPHI TECHNOLOGIES PLC | SHS | G2709G107 |  | 3058087 | 97516 | SH |  | SOLE |  | 97516 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 |  | 1795302 | 20700 | SH |  | SOLE |  | 20700 | 0 | 0 |
| EVEREST RE GROUP LTD | COM | G3223R108 |  | 1331974 | 5830 | SH |  | SOLE |  | 5830 | 0 | 0 |
| GENPACT LIMITED | SHS | G3922B107 |  | 889216 | 29050 | SH |  | SOLE |  | 29050 | 0 | 0 |
| HELEN OF TROY CORP LTD | COM | G4388N106 |  | 1473927 | 11260 | SH |  | SOLE |  | 11260 | 0 | 0 |
| ICON PLC | SHS | G4705A100 |  | 4061133 | 26414 | SH |  | SOLE |  | 26414 | 0 | 0 |
| INGERSOLL-RAND PLC | SHS | G47791101 |  | 15401399 | 150552 | SH |  | SOLE |  | 150552 | 0 | 0 |
| JAZZ PHARMACEUTICALS PLC | SHS USD | G50871105 |  | 84064 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| JOHNSON CTLS INTL PLC | SHS | G51502105 |  | 2492478 | 71214 | SH |  | SOLE |  | 71214 | 0 | 0 |
| LAZARD LTD | SHS A | G54050102 |  | 2715434 | 56419 | SH |  | SOLE |  | 56419 | 0 | 0 |
| LUXOFT HLDG INC | ORD SHS CL A | G57279104 |  | 360284 | 7609 | SH |  | SOLE |  | 7609 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 88532 | 900 | SH |  | SOLE |  | 900 | 0 | 0 |
| NIELSEN HLDGS PLC | SHS EUR | G6518L108 |  | 2024536 | 73194 | SH |  | SOLE |  | 73194 | 0 | 0 |
| CHUBB LIMITED | COM | H1467J104 |  | 1871352 | 14003 | SH |  | SOLE |  | 14003 | 0 | 0 |
| GARMIN LTD | SHS | H2906T109 |  | 1856316 | 26500 | SH |  | SOLE |  | 26500 | 0 | 0 |
| TE CONNECTIVITY LTD | REG SHS | H84989104 |  | 10497826 | 119389 | SH |  | SOLE |  | 119389 | 0 | 0 |
| ATENTO S A | SHS | L0427L105 |  | 87727 | 11697 | SH |  | SOLE |  | 11697 | 0 | 0 |
| LYONDELLBASELL INDUSTRIES N | SHS - A - | N53745100 |  | 3593779 | 35058 | SH |  | SOLE |  | 35058 | 0 | 0 |
| YANDEX N V | SHS CLASS A | N97284108 |  | 1161472 | 35314 | SH |  | SOLE |  | 35314 | 0 | 0 |
| COPA HOLDINGS SA | CL A | P31076105 |  | 405186 | 5075 | SH |  | SOLE |  | 5075 | 0 | 0 |
| ROYAL CARIBBEAN CRUISES LTD | COM | V7780T103 |  | 2410116 | 18548 | SH |  | SOLE |  | 18548 | 0 | 0 |

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