-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Jj2rVzl7cqyAKMivDtFTy4FI7Uz8my68aUNAXvByKraxsOtFoHjabW6871r1cpKv r2K5UrrCVKT1bfDyWsDHlw== 0000894579-09-000570.txt : 20091112 0000894579-09-000570.hdr.sgml : 20091111 20091112141220 ACCESSION NUMBER: 0000894579-09-000570 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20090930 FILED AS OF DATE: 20091112 DATE AS OF CHANGE: 20091112 EFFECTIVENESS DATE: 20091112 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AGF FUNDS INC CENTRAL INDEX KEY: 0001157765 IRS NUMBER: 000000000 STATE OF INCORPORATION: A6 FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-10049 FILM NUMBER: 091176311 BUSINESS ADDRESS: STREET 1: 66 WELLINGTON ST WEST STREET 2: TORONTO-DOMINION BANK TWR STE 3100 CITY: TORONTO STATE: A6 ZIP: M5K 1E9 BUSINESS PHONE: 4163671900 MAIL ADDRESS: STREET 1: 66 WELLINGTON ST WEST STREET 2: TORONTO-DOMINION BANK TWR STE 3100 CITY: TORONTO STATE: A6 ZIP: M5K 1E9 13F-HR 1 agf13fhr111109.txt FORM 13F-HR - AGF FUNDS INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2009 ------------------ Check here if Amendment [ ]; Amendment Number: n/a ------------------- This Amendment (check only one): [ ] is a restatement [ ] add new holdings entries Institutional Investment Manager Filing this Report: Name: AGF Funds Inc. --------------------------------------- Address: Toronto-Dominion Bank Tower, 31st Floor --------------------------------------- Toronto, Ontario --------------------------------------- Canada M5K 1E9 --------------------------------------- Form 13F File Number: 028-10049 --------- 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 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: Jacqueline Sanz -------------------------------------- Title: Chief Privacy Officer, Vice President, Corporate Compliance and Oversight -------------------------------------- Phone: 416-367-1900 -------------------------------------- Signature, Place and Date of Signing: /s/ Jacqueline Sanz Toronto, Canada November 12, 2009 ----------------------------- ------------------- ----------------- [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 reported are 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 Number of Other Included Managers: 0 ------------------------- Form 13F Information Table Entry Total: 306 ------------------------- Form 13F Information Table Value Total: US$ 4,857,345 (thousands) ------------------------- List of Other Included Managers: None
TITLE OF MARKET VALUE Shares or SH/ Investment Other Voting Authority Security Name CLASS Cusip (x1000 USD) PRN Amount PRN Discretion Managers Sole - ------------- ----- ----- ----------- ---------- --- ---------- -------- ---- Invesco Limited Shs G491BT108 7,518 330,330 SH Sole N/A 330,330 RenaissanceRe Holdings Limited Common G7496G103 16,350 298,581 SH Sole N/A 298,581 ACE Limited Shs H0023R105 15,894 297,315 SH Sole N/A 297,315 Teekay Corporation Common Y8564W103 919 42,000 SH Sole N/A 42,000 Aflac Inc. Common 001055102 44 1,026 SH Sole N/A 1,026 AT&T Inc. Common 00206R102 44,577 1,650,383 SH Sole N/A 1,650,383 Abbott Laboratories Inc. Common 002824100 43 868 SH Sole N/A 868 Advantage Oil and Gas Limited Common 00765F101 2,557 361,800 SH Sole N/A 361,800 AECOM Technology Corporation Common 00766T100 12,970 477,900 SH Sole N/A 477,900 Advanced Micro Devices Inc. Common 007903107 1,132 200,000 SH Sole N/A 200,000 Agnico-Eagle Mines Limited Common 008474108 147,115 2,176,457 SH Sole N/A 2,176,457 Alcoa Inc. Common 013817101 3,789 288,800 SH Sole N/A 288,800 Alexco Resource Corporation Common 01535P106 1,086 420,000 SH Sole N/A 420,000 Allegheny Technologies Inc. Common 01741R102 10,952 313,013 SH Sole N/A 313,013 Allied Nevada Gold Corporation Common 019344100 9,430 962,074 SH Sole N/A 962,074 The Allstate Corporation Common 020002101 26,229 856,602 SH Sole N/A 856,602 Altria Group Inc. Common 02209S103 7,719 433,391 SH Sole N/A 433,391 Amazon.com Inc. Common 023135106 32,471 347,800 SH Sole N/A 347,800 America Movil SAB de CV 'L' ADR ADR 02364W105 35,763 815,948 SH Sole N/A 815,948 American Water Works Company Inc. Common 030420103 7,235 362,816 SH Sole N/A 362,816 AmerisourceBergen Corporation Common 03073E105 34 1,534 SH Sole N/A 1,534 Amgen Inc. Common 031162100 70 1,168 SH Sole N/A 1,168 Aon Corporation Common 037389103 27,135 666,882 SH Sole N/A 666,882 Apartment Investment and Management Company 'A' Class A 03748R101 728 49,333 SH Sole N/A 49,333 Apollo Group Inc. 'A' Class A 037604105 8,251 112,003 SH Sole N/A 112,003 Apple Inc. Common 037833100 31,650 170,741 SH Sole N/A 170,741 Arch Coal Inc. Common 039380100 13,176 595,397 SH Sole N/A 595,397 Augusta Resource Corporation Common 050912203 2,349 945,800 SH Sole N/A 945,800 Aurizon Mines Limited Common 05155P106 13,188 3,005,900 SH Sole N/A 3,005,900 AutoNation Inc. Common 05329W102 32 1,788 SH Sole N/A 1,788 AutoZone Inc. Common 053332102 21 144 SH Sole N/A 144 AvalonBay Communities Inc. Common 053484101 1,890 25,980 SH Sole N/A 25,980 Avon Products Inc. Common 054303102 38 1,111 SH Sole N/A 1,111 BCE Inc. Common 05534B760 35,350 1,434,944 SH Sole N/A 1,434,944 BMC Software Inc. Common 055921100 23 602 SH Sole N/A 602 Ball Corporation Common 058498106 29 582 SH Sole N/A 582 Bank of America Corporation Common 060505104 39,847 2,355,026 SH Sole N/A 2,355,026 Bank of Montreal Common 063671101 28,727 568,100 SH Sole N/A 568,100 Bank of Nova Scotia Common 064149107 134,230 2,942,367 SH Sole N/A 2,942,367 Banro Corporation Common 066800103 1,904 713,200 SH Sole N/A 713,200 Barrick Gold Corporation Common 067901108 21,169 558,761 SH Sole N/A 558,761 Biogen Idec Inc. Common 09062X103 8,108 160,500 SH Sole N/A 160,500 Boston Properties Inc. Common 101121101 4,031 61,500 SH Sole N/A 61,500 Brigham Exploration Company Common 109178103 1,009 111,100 SH Sole N/A 111,100 Bristol-Myers Squibb Company Common 110122108 3,702 164,367 SH Sole N/A 164,367 Brookfield Asset Management Class A Inc. 'A' Ltd Vt Sh 112585104 39,528 1,737,562 SH Sole N/A 1,737,562 Brookfield Homes Corporation Common 112723101 26 3,939 SH Sole N/A 3,939 Brookfield Properties Corporation Common 112900105 26,411 2,332,050 SH Sole N/A 2,332,050 CIGNA Corporation Common 125509109 29 1,046 SH Sole N/A 1,046 CMS Energy Corporation Common 125896100 21 1,552 SH Sole N/A 1,552 CVS Caremark Corporation Common 126650100 66,952 1,873,300 SH Sole N/A 1,873,300 Cameco Corporation Common 13321L108 34,341 1,238,236 SH Sole N/A 1,238,236
TITLE OF MARKET VALUE Shares or SH/ Investment Other Voting Authority Security Name CLASS Cusip (x1000 USD) PRN Amount PRN Discretion Managers Sole - ------------- ----- ----- ----------- ---------- --- ---------- -------- ---- Canadian Imperial Bank of Commerce Common 136069101 56,165 921,532 SH Sole N/A 921,532 Canadian National Railway Company Common 136375102 29,803 605,464 SH Sole N/A 605,464 Canadian Natural Resources Limited Common 136385101 66,804 989,817 SH Sole N/A 989,817 Canadian Superior Energy Inc. Common 136644101 202 232,458 SH Sole N/A 232,458 Cardiome Pharma Corporation Common 14159U202 8,471 1,947,281 SH Sole N/A 1,947,281 Cavco Industries Inc. Common 149568107 1,190 33,516 SH Sole N/A 33,516 Central Fund of Canada Limited 'A' Class A 153501101 65,403 4,941,083 SH Sole N/A 4,941,083 Chipotle Mexican Grill Inc. 'A' Class A 169656105 3,329 34,300 SH Sole N/A 34,300 The Chubb Corporation Common 171232101 36 716 SH Sole N/A 716 Cisco Systems Inc. Common 17275R102 34,499 1,465,529 SH Sole N/A 1,465,529 Citigroup Inc. Common 172967101 5,631 1,163,466 SH Sole N/A 1,163,466 Cliffs Natural Resources Inc. Common 18683K101 3,097 95,700 SH Sole N/A 95,700 The Clorox Company Common 189054109 24 400 SH Sole N/A 400 Coach Inc. Common 189754104 23 694 SH Sole N/A 694 The Coca-Cola Company Common 191216100 72 1,346 SH Sole N/A 1,346 Coca-Cola Enterprises Inc. Common 191219104 28 1,303 SH Sole N/A 1,303 Cognizant Technology Solutions Corporation 'A' Class A 192446102 35 916 SH Sole N/A 916 Colgate-Palmolive Company Common 194162103 57 745 SH Sole N/A 745 Companhia de Bebidas das Americas SA Preferred ADR ADR 20441W203 485 5,890 SH Sole N/A 5,890 Compania de Minas Buenaventura SA ADR ADR 204448104 46,542 1,321,835 SH Sole N/A 1,321,835 Computer Sciences Corporation Common 205363104 32 606 SH Sole N/A 606 ConAgra Foods Inc. Common 205887102 29,453 1,358,535 SH Sole N/A 1,358,535 ConocoPhillips Common 20825C104 32,210 713,242 SH Sole N/A 713,242 CONSOL Energy Inc. Common 20854P109 17,679 391,900 SH Sole N/A 391,900 Continental Resources Inc. Common 212015101 3,929 100,300 SH Sole N/A 100,300 Convergys Corporation Common 212485106 21 2,157 SH Sole N/A 2,157 Corning Inc. Common 219350105 19,990 1,305,700 SH Sole N/A 1,305,700 Corus Entertainment Inc. 'B' Class B 220874101 12,970 762,551 SH Sole N/A 762,551 Costco Wholesale Corporation Common 22160K105 18,350 325,000 SH Sole N/A 325,000 D.R. Horton Inc. Common 23331A109 9,822 860,797 SH Sole N/A 860,797 Darden Restaurants Inc. Common 237194105 19 552 SH Sole N/A 552 DaVita Inc. Common 23918K108 23,602 416,700 SH Sole N/A 416,700 Dell Inc. Common 24702R101 53 3,497 SH Sole N/A 3,497 DeVry Inc. Common 251893103 25 446 SH Sole N/A 446 Diamond Foods Inc. Common 252603105 8,758 276,103 SH Sole N/A 276,103 The DIRECTV Group Inc. Common 25459L106 20 725 SH Sole N/A 725 Dolby Laboratories Inc. 'A' Class A 25659T107 5,316 139,200 SH Sole N/A 139,200 Dr. Pepper Snapple Group Inc. Common 26138E109 31 1,069 SH Sole N/A 1,069 Duke Energy Corporation Common 26441C105 30 1,900 SH Sole N/A 1,900 The Dun & Bradstreet Corporation Common 26483E100 17,576 233,355 SH Sole N/A 233,355 EMC Corporation Common 268648102 69 4,025 SH Sole N/A 4,025 EOG Resources Inc. Common 26875P101 24,678 295,515 SH Sole N/A 295,515 Eagle Materials Inc. Common 26969P108 3,929 137,482 SH Sole N/A 137,482 Eastman Kodak Company Common 277461109 4,175 873,447 SH Sole N/A 873,447 eBay Inc. Common 278642103 56 2,375 SH Sole N/A 2,375 El Paso Corporation Common 28336L109 34 3,285 SH Sole N/A 3,285 Eldorado Gold Corporation Common 284902103 96,605 8,510,563 SH Sole N/A 8,510,563 EnCana Corporation Common 292505104 134,682 2,327,066 SH Sole N/A 2,327,066 Enbridge Inc. Common 29250N105 31,858 820,981 SH Sole N/A 820,981 Endeavour Silver Corporation Common 29258Y103 3,679 1,313,850 SH Sole N/A 1,313,850 Enerplus Resources Fund Unit TR G 29274D604 1,203 52,600 SH Sole N/A 52,600 Environmental Power Corporation Common 29406L201 192 447,500 SH Sole N/A 447,500
TITLE OF MARKET VALUE Shares or SH/ Investment Other Voting Authority Security Name CLASS Cusip (x1000 USD) PRN Amount PRN Discretion Managers Sole - ------------- ----- ----- ----------- ---------- --- ---------- -------- ---- Equity Residential Properties Trust Sh benInt 29476L107 3,184 103,700 SH Sole N/A 103,700 Exeter Resource Corporation Common 301835104 4,020 878,900 SH Sole N/A 878,900 Express Scripts Inc. Common 302182100 45,881 591,400 SH Sole N/A 591,400 Exxon Mobil Corporation Common 30231G102 197 2,867 SH Sole N/A 2,867 FMC Technologies Inc. Common 30249U101 26 497 SH Sole N/A 497 Family Dollar Stores Inc. Common 307000109 15 575 SH Sole N/A 575 First Solar Inc. Common 336433107 4,815 31,500 SH Sole N/A 31,500 FirstService Corporation SubVtgsh 33761N109 10,540 546,768 SH Sole N/A 546,768 Fiserv Inc. Common 337738108 44 915 SH Sole N/A 915 Fomento Economico Mexicano SAB de CV ADR ADR 344419106 13,172 346,182 SH Sole N/A 346,182 Forest Laboratories Inc. Common 345838106 23 781 SH Sole N/A 781 Forestar Group Inc. Common 346233109 2,529 147,183 SH Sole N/A 147,183 Freeport-McMoRan Copper & Gold Inc. Common 35671D857 19,897 290,000 SH Sole N/A 290,000 Fronteer Development Group Inc. Common 35903Q106 897 208,000 SH Sole N/A 208,000 The Gap Inc. Common 364760108 40 1,857 SH Sole N/A 1,857 General Dynamics Corporation Common 369550108 69 1,071 SH Sole N/A 1,071 General Electric Company Common 369604103 8,622 525,110 SH Sole N/A 525,110 GeoGlobal Resources Inc. Common 37249T109 484 439,800 SH Sole N/A 439,800 Gilead Sciences Inc. Common 375558103 15,649 335,960 SH Sole N/A 335,960 GlaxoSmithKline PLC ADR ADR 37733W105 15,915 402,799 SH Sole N/A 402,799 Gold Fields Limited ADR ADR 38059T106 8,645 627,393 SH Sole N/A 627,393 Goldcorp Inc. Warrants W EXP Series G June 9, 2011 06.09.11 380956177 620 73,648 SH Sole N/A 73,648 Goldcorp Inc. Common 380956409 181,065 4,510,714 SH Sole N/A 4,510,714 The Goldman Sachs Group Inc. Common 38141G104 25,708 139,453 SH Sole N/A 139,453 Goodrich Corporation Common 382388106 32 585 SH Sole N/A 585 Google Inc. 'A' Class A 38259P508 23,950 48,300 SH Sole N/A 48,300 Gran Tierra Energy Inc. Common 38500T101 1,075 256,502 SH Sole N/A 256,502 CGI Group Inc. 'A' Class A 39945C109 27,449 2,344,850 SH Sole N/A 2,344,850 Grupo Televisa SAB ADR ADR 40049J206 26,823 1,442,883 SH Sole N/A 1,442,883 Harry Winston Diamond Corporation Common 41587B100 1,123 132,979 SH Sole N/A 132,979 The Hartford Financial Services Group Inc. Common 416515104 33,797 1,275,342 SH Sole N/A 1,275,342 Harvest Energy Trust Trust Unit 41752X101 9,768 1,501,300 SH Sole N/A 1,501,300 The Hershey Company Common 427866108 26 671 SH Sole N/A 671 Hewlett-Packard Company Common 428236103 120 2,533 SH Sole N/A 2,533 Home Depot Inc. Common 437076102 51 1,911 SH Sole N/A 1,911 Honeywell International Inc. Common 438516106 12,475 335,800 SH Sole N/A 335,800 Hudson City Bancorp Inc. Common 443683107 28 2,105 SH Sole N/A 2,105 Hugoton Royalty Trust UnitBenInt 444717102 233 12,986 SH Sole N/A 12,986 IESI-BFC Limited Common 44951D108 7,568 584,100 SH Sole N/A 584,100 IMS Health Inc. Common 449934108 2,200 143,300 SH Sole N/A 143,300 IAMGOLD Corporation Common 450913108 88,167 6,242,511 SH Sole N/A 6,242,511 IHS Inc. 'A' Class A 451734107 12,931 252,900 SH Sole N/A 252,900 Imperial Oil Limited Common 453038408 6,988 183,700 SH Sole N/A 183,700 Infosys Technologies Limited ADR ADR 456788108 27,619 569,586 SH Sole N/A 569,586 Intel Corporation Common 458140100 15,987 816,900 SH Sole N/A 816,900 International Business Machines Corporation Common 459200101 23,014 192,409 SH Sole N/A 192,409 Intuit Inc. Common 461202103 38 1,336 SH Sole N/A 1,336 iShares MSCI United Kingdom MSCI UTD Index Fund KINGD 464286699 13,663 880,900 SH Sole N/A 880,900 iShares MSCI France Index Fund MSCI France 464286707 12,933 498,000 SH Sole N/A 498,000 iShares MSCI Italy Index Fund MSCI Italy 464286855 14,659 718,236 SH Sole N/A 718,236
TITLE OF MARKET VALUE Shares or SH/ Investment Other Voting Authority Security Name CLASS Cusip (x1000 USD) PRN Amount PRN Discretion Managers Sole - ------------- ----- ----- ----------- ---------- --- ---------- -------- ---- Ivanhoe Mines Limited Common 46579N103 3,853 300,000 SH Sole N/A 300,000 JPMorgan Chase & Company Common 46625H100 64,875 1,480,484 SH Sole N/A 1,480,484 Jaguar Mining Inc. Common 47009M103 1,559 174,350 SH Sole N/A 174,350 Johnson & Johnson Common 478160104 13,177 216,410 SH Sole N/A 216,410 KB Financial Group Inc. ADR ADR 48241A105 26,640 517,582 SH Sole N/A 517,582 KT Corporation ADR ADR 48268K101 25,855 1,487,620 SH Sole N/A 1,487,620 KB Home Common 48666K109 5,823 350,600 SH Sole N/A 350,600 Keegan Resources Inc. Common 487275109 1,718 485,500 SH Sole N/A 485,500 KeyCorp Common 493267108 5,672 872,577 SH Sole N/A 872,577 Kimberly-Clark Corporation Common 494368103 16,015 271,534 SH Sole N/A 271,534 Kimco Realty Corporation Common 49446R109 722 55,400 SH Sole N/A 55,400 Kinder Morgan Energy Partners Limited Partnership Common 494550106 324 6,000 SH Sole N/A 6,000 King Pharmaceuticals Inc. Common 495582108 27 2,503 SH Sole N/A 2,503 Kinross Gold Corporation Common 496902404 84,624 3,885,686 SH Sole N/A 3,885,686 Kingsway Financial Services Inc. Common 496904103 7,025 1,646,612 SH Sole N/A 1,646,612 Korea Electric Power Corporation ADR ADR 500631106 21,672 1,422,044 SH Sole N/A 1,422,044 Kraft Foods Inc. 'A' Class A 50075N104 7,817 297,547 SH Sole N/A 297,547 La-Z-Boy Inc. Common 505336107 11,116 1,285,087 SH Sole N/A 1,285,087 Laboratory Corporation of America Holdings Common 50540R409 8,502 129,400 SH Sole N/A 129,400 Lawson Software Inc. Common 52078P102 1,997 320,000 SH Sole N/A 320,000 Eli Lilly and Company Common 532457108 34 1,031 SH Sole N/A 1,031 Lincoln National Corporation Common 534187109 2,852 110,081 SH Sole N/A 110,081 Lockheed Martin Corporation Common 539830109 29 372 SH Sole N/A 372 Lululemon Athletica Inc. Common 550021109 1,822 80,000 SH Sole N/A 80,000 Luminex Corporation Common 55027E102 867 51,028 SH Sole N/A 51,028 MAG Silver Corporation Common 55903Q104 2,561 440,300 SH Sole N/A 440,300 Manulife Financial Corporation Common 56501R106 112,833 5,372,079 SH Sole N/A 5,372,079 McAfee Inc. Common 579064106 10,981 250,768 SH Sole N/A 250,768 McDermott International Inc. Common 580037109 22,715 898,900 SH Sole N/A 898,900 McDonald's Corporation Common 580135101 52 912 SH Sole N/A 912 The McGraw-Hill Companies Inc. Common 580645109 21 827 SH Sole N/A 827 Merck & Company Inc. Common 589331107 37,026 1,170,611 SH Sole N/A 1,170,611 Methanex Corporation Common 59151K108 3,212 184,499 SH Sole N/A 184,499 MetLife Inc. Common 59156R108 30,177 792,664 SH Sole N/A 792,664 Microsoft Corporation Common 594918104 130 5,036 SH Sole N/A 5,036 Mindray Medical International Limited ADR ADR 602675100 3,754 115,000 SH Sole N/A 115,000 Minefinders Corporation Limited Common 602900102 7,358 750,716 SH Sole N/A 750,716 Molson Coors Brewing Company 'B' Class B 60871R209 26 541 SH Sole N/A 541 Monsanto Company Common 61166W101 7,972 103,000 SH Sole N/A 103,000 Moody's Corporation Common 615369105 10,064 491,904 SH Sole N/A 491,904 Mylan Inc. Common 628530107 24 1,511 SH Sole N/A 1,511 National Retail Properties Inc. Common 637417106 3,132 145,882 SH Sole N/A 145,882 NetApp Inc. Common 64110D104 33 1,243 SH Sole N/A 1,243 Netflix Inc. Common 64110L106 14,077 304,900 SH Sole N/A 304,900 Nevsun Resources Limited Common 64156L101 2,397 1,172,400 SH Sole N/A 1,172,400 New Gold Inc. Common 644535106 14,355 3,759,768 SH Sole N/A 3,759,768 Newell Rubbermaid Inc. Common 651229106 34 2,141 SH Sole N/A 2,141 Newmont Mining Corporation Common 651639106 37,278 846,834 SH Sole N/A 846,834 Nexen Inc. Common 65334H102 45,526 2,003,691 SH Sole N/A 2,003,691 Northern Trust Corporation Common 665859104 7,037 121,000 SH Sole N/A 121,000
TITLE OF Market Value Shares or SH/ Investment Other Voting Authority Security Name CLASS Cusip (x1000 USD) PRN Amount PRN Discretion Managers Sole - ------------- ------- --------- ------------ ---------- --- ---------- -------- ---- Northgate Minerals Corporation Common 666416102 1,175 435,500 SH Sole N/A 435,500 Northrop Grumman Corporation Common 666807102 9,765 188,698 SH Sole N/A 188,698 Novabay Pharmaceuticals Inc. Common 66987P102 983 578,300 SH Sole N/A 578,300 NUCRYST Pharmaceuticals Corporation Common 67035Q100 208 210,000 SH Sole N/A 210,000 NVIDIA Corporation Common 67066G104 21 1,429 SH Sole N/A 1,429 Old Republic International Corporation Common 680223104 17,095 1,403,559 SH Sole N/A 1,403,559 Omnicom Group Inc. Common 681919106 6,952 188,200 SH Sole N/A 188,200 Open Text Corporation Common 683715106 23,326 623,781 SH Sole N/A 623,781 Oracle Corporation Common 68389X105 89 4,293 SH Sole N/A 4,293 O'Reilly Automotive Inc. Common 686091109 28 764 SH Sole N/A 764 Owens-Illinois Inc. Common 690768403 34 927 SH Sole N/A 927 PG&E Corporation Common 69331C108 10,213 252,225 SH Sole N/A 252,225 Pactiv Corporation Common 695257105 30 1,152 SH Sole N/A 1,152 Pan American Silver Corporation Common 697900108 3,217 141,100 SH Sole N/A 141,100 Peabody Energy Corporation Common 704549104 11,567 310,762 SH Sole N/A 310,762 The Pepsi Bottling Group Inc. Common 713409100 21 570 SH Sole N/A 570 PepsiCo Inc. Common 713448108 4,085 69,637 SH Sole N/A 69,637 Petrohawk Energy Corporation Common 716495106 19 800 SH Sole N/A 800 Petroleo Brasileiro SA - Petrobras ADR ADR 71654V408 7,027 153,100 SH Sole N/A 153,100 Pfizer Inc. Common 717081103 101 6,113 SH Sole N/A 6,113 Philip Morris International Inc. Common 718172109 20,893 428,661 SH Sole N/A 428,661 Pitney Bowes Inc. Common 724479100 352 14,155 SH Sole N/A 14,155 Potash Corporation of Saskatchewan Inc. Common 73755L107 27,207 300,100 SH Sole N/A 300,100 T.Rowe Price Group Inc. Common 74144T108 16,493 360,900 SH Sole N/A 360,900 The Procter & Gamble Company Common 742718109 96 1,656 SH Sole N/A 1,656 The Progressive Corporation Common 743315103 31 1,844 SH Sole N/A 1,844 ProLogis Common 743410102 533 44,753 SH Sole N/A 44,753 Prudential Financial Inc. Common 744320102 39 791 SH Sole N/A 791 Public Storage Inc. Common 74460D109 1,068 14,200 SH Sole N/A 14,200 QUALCOMM Inc. Common 747525103 14,668 326,100 SH Sole N/A 326,100 Quest Diagnostics Inc. Common 74834L100 28 539 SH Sole N/A 539 Quest Capital Corporation Common 74835U109 1,102 1,036,000 SH Sole N/A 1,036,000 Quicksilver Resources Inc. Common 74837R104 4,424 311,754 SH Sole N/A 311,754 Qwest Communications International Inc. Common 749121109 27 7,124 SH Sole N/A 7,124 RadioShack Corporation Common 750438103 29,877 1,803,105 SH Sole N/A 1,803,105 Randgold Resources Limited ADR ADR 752344309 110,787 1,585,386 SH Sole N/A 1,585,386 Raytheon Company Common 755111507 5,329 111,100 SH Sole N/A 111,100 Research In Motion Limited Common 760975102 80,316 1,188,707 SH Sole N/A 1,188,707 Rockwell Collins Inc. Common 774341101 31 612 SH Sole N/A 612 Rogers Communications Inc. 'B' Class B 775109200 62,645 2,219,925 SH Sole N/A 2,219,925 Royal Bank of Canada Common 780087102 112,696 2,097,740 SH Sole N/A 2,097,740 Royal Dutch Shell PLC 'A' ADR ADR 780259206 915 16,000 SH Sole N/A 16,000 SPDR Trust UNIT SER 1 78462F103 93 883 SH Sole N/A 883 SPDR Gold Trust Shs 78463V107 10,002 101,182 SH Sole N/A 101,182 SPDR KBW Bank ETF SPDR KBW BK ETF 78464A797 94 4,013 SH Sole N/A 4,013 SXC Health Solutions Corporation Common 78505P100 31,243 668,036 SH Sole N/A 668,036 Schering-Plough Corporation Common 806605101 58 2,055 SH Sole N/A 2,055 The Charles Schwab Corporation Common 808513105 21,653 1,130,700 SH Sole N/A 1,130,700 Energy Select Sector SPDR SBI Fund INT-ENERGY 81369Y506 167 3,102 SH Sole N/A 3,102
TITLE OF Market Value Shares or SH/ Investment Other Voting Authority Security Name CLASS Cusip (x1000 USD) PRN Amount PRN Discretion Managers Sole - ------------- ------- --------- ------------ ---------- --- ---------- -------- ---- Industrial Select Sector SBI SPDR Fund INT-INDS 81369Y704 93 3,532 SH Sole N/A 3,532 Sherwin-Williams Company Common 824348106 23,947 398,053 SH Sole N/A 398,053 Simon Property Group Inc. Common 828806109 5,938 85,531 SH Sole N/A 85,531 Solitario Exploration & Royalty Corporation Common 8342EP107 1,014 535,200 SH Sole N/A 535,200 Southwestern Energy Company Common 845467109 8,907 208,700 SH Sole N/A 208,700 Stantec Inc. Common 85472N109 13,705 547,806 SH Sole N/A 547,806 Starbucks Corporation Common 855244109 39 1,866 SH Sole N/A 1,866 Starent Networks Corporation Common 85528P108 5,130 201,800 SH Sole N/A 201,800 Sun Life Financial Inc. Common 866796105 54,399 1,736,951 SH Sole N/A 1,736,951 Suncor Energy Inc. Common 867224107 181,049 5,185,801 SH Sole N/A 5,185,801 SunOpta Inc. Common 8676EP108 4,038 996,784 SH Sole N/A 996,784 The TJX Companies Inc. Common 872540109 38 1,022 SH Sole N/A 1,022 Taiwan Semiconductor Manufacturing Company Limited ADR ADR 874039100 630 57,500 SH Sole N/A 57,500 Talisman Energy Inc. Common 87425E103 105,818 6,084,670 SH Sole N/A 6,084,670 Target Corporation Common 87612E106 53 1,126 SH Sole N/A 1,126 Teck Resources Limited 'B' Class B 878742204 23,802 864,334 SH Sole N/A 864,334 Tellabs Inc. Common 879664100 35 5,067 SH Sole N/A 5,067 Temple-Inland Inc. Common 879868107 3,731 227,250 SH Sole N/A 227,250 Tenaris SA ADR ADR 88031M109 34,574 970,629 SH Sole N/A 970,629 Teradata Corporation Common 88076W103 5,964 216,700 SH Sole N/A 216,700 Teva Pharmaceutical Industries Limited ADR ADR 881624209 64,598 1,277,652 SH Sole N/A 1,277,652 Thompson Creek Metals Company Inc. Common 884768102 1,155 95,710 SH Sole N/A 95,710 Thomson Reuters Corporation Common 884903105 39,102 1,166,810 SH Sole N/A 1,166,810 3M Company Common 88579Y101 10,932 148,130 SH Sole N/A 148,130 Tim Hortons Inc. Common 88706M103 15,639 550,355 SH Sole N/A 550,355 Torchmark Corporation Common 891027104 22 500 SH Sole N/A 500 Toronto-Dominion Bank Common 891160509 111,328 1,722,168 SH Sole N/A 1,722,168 TransCanada Corporation Common 89353D107 6,112 196,218 SH Sole N/A 196,218 The Travelers Companies Inc. Common 89417E109 40 808 SH Sole N/A 808 U.S. Bancorp Common 902973304 26,373 1,206,432 SH Sole N/A 1,206,432 Ultra Petroleum Corporation Common 903914109 11,071 226,120 SH Sole N/A 226,120 United Technologies Corporation Common 913017109 63 1,032 SH Sole N/A 1,032 UnitedHealth Group Inc. Common 91324P102 39 1,567 SH Sole N/A 1,567 Unum Group Common 91529Y106 12,528 584,313 SH Sole N/A 584,313 Vale SA ADR ADR 91912E105 34,644 1,497,800 SH Sole N/A 1,497,800 Varian Medical Systems Inc. Common 92220P105 11,923 283,000 SH Sole N/A 283,000 Verizon Communications Inc. Common 92343V104 29,814 984,925 SH Sole N/A 984,925 Visa Inc. 'A' Class A 92826C839 25,737 372,400 SH Sole N/A 372,400 Wal-Mart Stores Inc. Common 931142103 82 1,672 SH Sole N/A 1,672 Waste Management Inc. Common 94106L109 16,372 549,028 SH Sole N/A 549,028 Waters Corporation Common 941848103 35 629 SH Sole N/A 629 WellPoint Inc. Common 94973V107 34 715 SH Sole N/A 715 Wells Fargo & Company Common 949746101 3,293 116,839 SH Sole N/A 116,839 Western Digital Corporation Common 958102105 37 1,026 SH Sole N/A 1,026 The Western Union Company Common 959802109 35 1,863 SH Sole N/A 1,863 Whiting Petroleum Corporation Common 966387102 1,848 32,100 SH Sole N/A 32,100 Whole Foods Market Inc. Common 966837106 25 817 SH Sole N/A 817 The Williams Companies Inc. Common 969457100 14,537 813,510 SH Sole N/A 813,510 Wyeth Common 983024100 52 1,069 SH Sole N/A 1,069 XTO Energy Inc. Common 98385X106 48,682 1,178,168 SH Sole N/A 1,178,168 YM Biosciences Inc. Common 984238105 594 390,400 SH Sole N/A 390,400
TITLE OF Market Value Shares or SH/ Investment Other Voting Authority Security Name CLASS Cusip (x1000 USD) PRN Amount PRN Discretion Managers Sole - ------------- ------- --------- ------------ ---------- --- ---------- -------- ---- Yamana Gold Inc. Common 98462Y100 85,941 7,991,708 SH Sole N/A 7,991,708 YUM! Brands Inc. Common 988498101 33 970 SH Sole N/A 970 --------- ----------- 4,857,345 189,035,716 ========= ===========
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