13F-HR 1 a2167369z13f-hr.txt 13F-HR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2005 ------------------ 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: Sun Life Financial Inc. ------------------------------------ Address: 150 King Street West ------------------------------------ Toronto, Ontario, Canada, M5H 1J9 ------------------------------------ ------------------------------------ Form 13F File Number: 28-05799 ------------------------------- 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: James M. A. Anderson ----------------------------------------------------- Title: Executive Vice President and Chief Investment Officer ----------------------------------------------------- Phone: ----------------------------------------------------- Signature, Place, and Date of Signing: /s/ James M. A. Anderson Ontario, Canada 5-12-2005 ------------------------------- ------------------ -------------- [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).) List of Other Managers Reporting for this Manager: [If there are no entries in this list, omit this section.] Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 -------------------- Form 13F Information Table Entry Total: 267 -------------------- Form 13F Information Table Value Total: $ 2,010,915 -------------------- (thousands) 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
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------- ---------------- --------- --------- ---------------------- ---------- -------- ------------------------ VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------- ---------------- --------- --------- --------- ----- ------ ---------- -------- --------- ------ ------ U.S. OPERATIONS - AMOUNTS SHOWN ARE IN U.S. DOLLARS 3COM CORP COM 885535104 9,486 2,635,000 SH SOLE 2,635,000 AGERE SYS INC COM 00845V308 9,593 743,612 SH SOLE 743,612 ALBERTO CULVER CO COM 013068101 9,525 208,200 SH SOLE 208,200 ALEXANDRIA REAL ESTATE EQ IN COM 015271109 16,291 202,376 SH SOLE 202,376 ALLIED WASTE INDS INC COM 019589308 9,334 1,068,000 SH SOLE 1,068,000 AMR CORP COM 001765106 733 32,953 SH SOLE 32,953 ARCHSTONE SMITH TR COM 039583109 17,336 413,847 SH SOLE 413,847 AVALONBAY CMNTYS INC COM 053484101 9,236 103,483 SH SOLE 103,483 AVAYA INC COM 053499109 10,818 1,013,881 SH SOLE 1,013,881 BIOGEN IDEC INC COM 09062X103 16,393 362,036 SH SOLE 362,036 BIOMET INC COM 090613100 14,398 393,700 SH SOLE 393,700 BOSTON SCIENTIFIC CORP COM 101137107 19,328 789,213 SH SOLE 789,213 BRE PROPERTIES INC CL A 05564E106 15,394 338,481 SH SOLE 338,481 BROCADE COMMUNICATIONS SYS I COM 111621108 9,261 2,275,453 SH SOLE 2,275,453 C COR INC COM 125010108 4,208 865,864 SH SOLE 865,864 CAPITALSOURCE INC COM 14055X102 19,399 866,037 SH SOLE 866,037 CCE SPINCO INC COM 14985W109 694 52,967 SH SOLE 52,967 CHEVRON CORP NEW COM 166764100 5,669 99,861 SH SOLE 99,861 CIT GROUP INC COM 125581108 11,228 216,850 SH SOLE 216,850 CITIZENS COMMUNICATIONS CO COM 17453B101 6,360 520,000 SH SOLE 520,000 CLEAR CHANNEL COMMUNICATIONS COM 184502102 13,327 423,742 SH SOLE 423,742 DEVELOPERS DIVERSIFIED RLTY COM 251591103 15,242 324,161 SH SOLE 324,161 DYNEGY INC NEW CL A 26816Q101 12,036 2,486,761 SH SOLE 2,486,761 EASTGROUP PPTY INC COM 277276101 14,344 317,630 SH SOLE 317,630 EASTMAN KODAK CO COM 277461109 19,136 817,777 SH SOLE 817,777 ECHOSTAR COMMUNICATIONS NEW CL A 278762109 4,440 163,354 SH SOLE 163,354 EMERSON ELEC CO COM 291011104 9,888 132,370 SH SOLE 132,370 ENGELHARD CORP COM 292845104 10,076 334,200 SH SOLE 334,200 EQUITY RESIDENTIAL SH BEN INT 29476L107 913 23,343 SH SOLE 23,343 EXIDE TECHNOLOGIES COM NEW 302051206 4,164 1,125,344 SH SOLE 1,125,344 EXXON MOBIL CORP COM 30231G102 14,681 261,360 SH SOLE 261,360 FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 366 6,032 SH SOLE 6,032 FEDEX CORP COM 31428X106 10,101 97,700 SH SOLE 97,700
GENERAL ELECTRIC CO COM 369604103 4,735 135,100 SH SOLE 135,100 GOLDMAN SACHS GROUP INC COM 38141G104 12,069 94,505 SH SOLE 94,505 HILTON HOTELS CORP COM 432848109 9,923 411,562 SH SOLE 411,562 HONEYWELL INTL INC COM 438516106 8,854 237,700 SH SOLE 237,700 HOST MARRIOTT CORP NEW COM 44107P104 9,294 490,436 SH SOLE 490,436 IMCLONE SYS INC COM 45245W109 5,033 147,000 SH SOLE 147,000 ISHARES INC MSCI AUSTRALIA 464286103 1,382 73,498 SH SOLE 73,498 ISHARES INC MSCI BELGIUM 464286301 249 12,969 SH SOLE 12,969 ISHARES INC MSCI SINGAPORE 464286673 267 33,739 SH SOLE 33,739 ISHARES INC MSCI UTD KINGD 464286699 6,308 339,492 SH SOLE 339,492 ISHARES INC MSCI FRANCE 464286707 2,227 85,725 SH SOLE 85,725 ISHARES INC MSCI SWITZERLD 464286749 1,764 91,331 SH SOLE 91,331 ISHARES INC MSCI SWEDEN 464286756 1,141 50,258 SH SOLE 50,258 ISHARES INC MSCI SPAIN 464286764 1,141 31,549 SH SOLE 31,549 ISHARES INC MSCI GERMAN 464286806 1,664 81,933 SH SOLE 81,933 ISHARES INC MSCI NETHERLND 464286814 1,218 59,958 SH SOLE 59,958 ISHARES INC MSCI JAPAN 464286848 6,322 467,581 SH SOLE 467,581 ISHARES INC MSCI ITALY 464286855 949 37,121 SH SOLE 37,121 ISHARES INC MSCI HONG KONG 464286871 849 67,290 SH SOLE 67,290 ISTAR FINL INC COM 45031U101 11,237 315,216 SH SOLE 315,216 JDS UNIPHASE CORP COM 46612J101 13,479 5,711,500 SH SOLE 5,711,500 KIMCO REALTY CORP COM 49446R109 14,627 455,959 SH SOLE 455,959 KNIGHT CAPITAL GROUP INC CL A 499005106 8,919 901,863 SH SOLE 901,863 LEAPFROG ENTERPRISES INC CL A 52186N106 3,613 310,115 SH SOLE 310,115 LEHMAN BROS HLDGS INC COM 524908100 13,304 103,800 SH SOLE 103,800 LUCENT TECHNOLOGIES INC COM 549463107 14,556 5,472,357 SH SOLE 5,472,357 MACERICH CO COM 554382101 18,039 268,673 SH SOLE 268,673 MEDICAL PPTYS TRUST INC COM 58463J304 978 100,000 SH SOLE 100,000 MEDIMMUNE INC COM 584699102 13,312 380,120 SH SOLE 380,120 MERISTAR HOSPITALITY CORP COM 58984Y103 10,995 1,169,628 SH SOLE 1,169,628 MERRILL LYNCH & CO INC COM 590188108 12,810 189,132 SH SOLE 189,132 MILLENNIUM PHARMACEUTICALS I COM 599902103 11,319 1,166,919 SH SOLE 1,166,919 MRV COMMUNICATIONS INC COM 553477100 6,004 2,928,936 SH SOLE 2,928,936 NEW YORK CMNTY BANCORP INC COM 649445103 22,574 1,366,460 SH SOLE 1,366,460 PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 8,979 240,345 SH SOLE 240,345 PMC-SIERRA INC COM 69344F106 5,089 660,000 SH SOLE 660,000 PROLOGIS SH BEN INT 743410102 15,724 336,565 SH SOLE 336,565 PUBLIC STORAGE INC COM 74460D109 844 12,466 SH SOLE 12,466 RAYTHEON CO COM NEW 755111507 9,034 225,000 SH SOLE 225,000 RECKSON ASSOCS RLTY CORP COM 75621K106 12,474 346,701 SH SOLE 346,701 REGENCY CTRS CORP COM 758849103 12,667 214,870 SH SOLE 214,870 RELIANT ENERGY INC COM 75952B105 8,031 778,225 SH SOLE 778,225
RENT A CTR INC NEW COM 76009N100 10,337 548,065 SH SOLE 548,065 REVLON INC CL A 761525500 11,473 3,701,110 SH SOLE 3,701,110 SARA LEE CORP COM 803111103 11,266 596,069 SH SOLE 596,069 SHURGARD STORAGE CTRS INC COM 82567D104 16,662 293,814 SH SOLE 293,814 SIMON PPTY GROUP INC NEW COM 828806109 16,654 217,330 SH SOLE 217,330 SL GREEN RLTY CORP COM 78440X101 16,573 216,953 SH SOLE 216,953 TELLABS INC COM 879664100 12,025 1,103,195 SH SOLE 1,103,195 VICOR CORP COM 925815102 8,525 539,200 SH SOLE 539,200 VORNADO RLTY TR SH BEN INT 929042109 15,386 184,333 SH SOLE 184,333 CANADIAN OPERATIONS - AMOUNTS SHOWN ARE IN U.S. DOLLARS Agco Corp COM 001084102 1,345 81,200 SH SOLE 81,200 ATI Technologies Inc COM 001941103 360 21,200 SH SOLE 21,200 AT&T Inc COM 00206R102 4,776 195,000 SH SOLE 195,000 Abbot Laboratories COM 002824100 35 900 SH SOLE 900 Aber Diamond Corporation COM 002893105 722 19,600 SH SOLE 19,600 Abitibi-Consolidated Inc COM 003924107 542 135,700 SH SOLE 135,700 Ace Cash Express Inc COM 004403101 105 4,500 SH SOLE 4,500 Agrium Inc COM 008916108 376 17,100 SH SOLE 17,100 Alcan Inc COM 013716105 10,634 259,575 SH SOLE 259,575 Alcoa Inc COM 013817101 4,163 140,800 SH SOLE 140,800 Alliance Atlantis Comm Inc COM 01853E204 317 10,800 SH SOLE 10,800 Allied Irish Banks plc COM 019228402 3,394 79,000 SH SOLE 79,000 Altria Group COM 02209S103 3,407 45,600 SH SOLE 45,600 American Express Co COM 025816109 257 5,000 SH SOLE 5,000 American International Group COM 026874107 4,107 60,200 SH SOLE 60,200 American Standard Companies COM 029712106 48 1,200 SH SOLE 1,200 Ameriprise Financial Inc COM 03076C106 41 1,000 SH SOLE 1,000 Amvescap PLC COM 03235E100 1,853 120,400 SH SOLE 120,400 Angiotech Pharmaceuticals Inc COM 034918102 197 15,000 SH SOLE 15,000 Angiotech Pharmaceuticals Inc COM 034918102 187 14,200 SH SOLE 14,200 Apache Corporation COM 037411105 809 11,800 SH SOLE 11,800 Asahi Glass Co Ltd COM 043393206 1,897 14,600 SH SOLE 14,600 Avery Dennison Corp COM 053611109 1,503 27,200 SH SOLE 27,200 BCE Inc COM 05534B109 14,627 611,842 SH SOLE 611,842 BP PLC COM 055622104 2,922 45,500 SH SOLE 45,500 Bank of America Corp COM 060505104 115 2,500 SH SOLE 2,500 Bank of Montreal COM 063671101 7,977 143,076 SH SOLE 143,076 Bank of Nova Scotia COM 064149107 13,535 341,987 SH SOLE 341,987 Barclays PLC COM 06738E204 1,595 37,900 SH SOLE 37,900
Barrick Gold Corp COM 067901108 4,234 152,300 SH SOLE 152,300 Beckman Coulter Inc COM 075811109 854 15,000 SH SOLE 15,000 Boston Scientific COM 101137107 6,830 278,900 SH SOLE 278,900 Brookfield Asset Mgmt COM 112585104 178 3,550 SH SOLE 3,550 Burlington North Santa Fe COM 12189T104 2,153 30,400 SH SOLE 30,400 CAE Inc COM 124765108 3,111 425,700 SH SOLE 425,700 CHC Helicopter Corp COM 12541C203 145 6,200 SH SOLE 6,200 CIT Group Inc COM 125581108 83 1,600 SH SOLE 1,600 CVS Corp COM 126650100 63 2,400 SH SOLE 2,400 Cameco Corp COM 13321L108 430 6,800 SH SOLE 6,800 Cdn Imp Bank of Commerce COM 136069101 10,073 153,690 SH SOLE 153,690 Cdn National Railways COM 136375102 10,511 131,560 SH SOLE 131,560 Canadian Nat Resources Ltd COM 136385101 717 14,500 SH SOLE 14,500 Canadian Pacific Railway COM 13645T100 5,837 139,688 SH SOLE 139,688 Canon Inc COM 138006309 2,541 43,200 SH SOLE 43,200 Capital One Fin Corp COM 14040H105 35 400 SH SOLE 400 Caterpillar Inc COM 149123101 144 2,500 SH SOLE 2,500 Cendant Corp COM 151313103 52 3,000 SH SOLE 3,000 Chevron Corp COM 166764100 57 1,000 SH SOLE 1,000 Cisco Systems COM 17275R102 51 3,000 SH SOLE 3,000 Citigroup Inc COM 172967101 6,086 125,400 SH SOLE 125,400 Clear Channel Comm COM 184502102 - - SH SOLE - Colgate Palmolive COM 194162103 2,523 46,000 SH SOLE 46,000 Corus Entertainment COM 220874101 177 6,600 SH SOLE 6,600 Curtiss-Wright Corp COM 231561101 109 2,000 SH SOLE 2,000 Datamirror Corporation COM 237926100 100 11,250 SH SOLE 11,250 John Deere & Co. COM 244199105 170 2,500 SH SOLE 2,500 Dell Inc COM 24702R101 180 6,000 SH SOLE 6,000 Diageo PLC COM 25243Q205 4,821 82,700 SH SOLE 82,700 Dollar General Corp COM 256669102 34 1,800 SH SOLE 1,800 Domtar Inc. COM 257561100 3,003 521,700 SH SOLE 521,700 Draxis Health Inc COM 26150J101 101 23,400 SH SOLE 23,400 Duke Energy Corporation COM 264399106 5,007 182,400 SH SOLE 182,400 Eastman Kodak Co COM 277461109 4,680 200,000 SH SOLE 200,000 Embraer Empresa Brasileira COM 29081M102 - - SH SOLE - EnCana Corporation COM 292505104 16,464 365,186 SH SOLE 365,186 Enbridge Inc COM 29250N105 2,591 83,121 SH SOLE 83,121 Extendicare Inc COM 30224T871 58 3,700 SH SOLE 3,700 Exxon Mobil Corp COM 30231G102 225 4,000 SH SOLE 4,000 Fairmont Hotels COM 305204109 270 6,400 SH SOLE 6,400 Falconbridge Ltd COM 306104100 627 21,200 SH SOLE 21,200 Federal National Mtge Assoc COM 313586109 586 12,000 SH SOLE 12,000
First Data Corp COM 319963104 71 1,650 SH SOLE 1,650 Fiserv Inc COM 337738108 35 800 SH SOLE 800 Fluor Corporation COM 343412102 2,016 26,100 SH SOLE 26,100 France Telecom SA-Spons ADR COM 35177Q105 3,219 129,600 SH SOLE 129,600 General Elec Co COM 369604103 1,227 35,000 SH SOLE 35,000 Gildan Activewear Inc COM 375916103 528 12,300 SH SOLE 12,300 Glamis Gold COM 376775102 282 10,300 SH SOLE 10,300 Glaxosmithkline Plc COM 37733W105 3,382 67,000 SH SOLE 67,000 Gold Fields Ltd COM 38059T106 2,063 117,000 SH SOLE 117,000 Goldcorp Inc COM 380956409 1,015 45,700 SH SOLE 45,700 Group CGI COM 39945C109 5,774 723,800 SH SOLE 723,800 HSBC Holdings Plc COM 404280406 2,535 31,500 SH SOLE 31,500 Hewlett Packard Co COM 428236103 1,661 58,000 SH SOLE 58,000 Home Depot Inc COM 437076102 243 6,000 SH SOLE 6,000 Honeywell International Inc COM 438516106 2,324 62,400 SH SOLE 62,400 Hydrogenics Corporation COM 448882100 72 23,700 SH SOLE 23,700 Imperial Oil Ltd COM 453038408 4,593 46,400 SH SOLE 46,400 Inco Ltd COM 453258402 282 6,500 SH SOLE 6,500 Intel Corp COM 458140100 250 10,000 SH SOLE 10,000 I B M Corp COM 459200101 37 450 SH SOLE 450 Ishares COM 464286608 738 9,500 SH SOLE 9,500 Ishares COM 464286665 1,134 11,500 SH SOLE 11,500 Ishares COM 464286699 2,007 108,000 SH SOLE 108,000 Ishares COM 464286707 2,863 110,200 SH SOLE 110,200 Ishares COM 464286806 639 31,500 SH SOLE 31,500 Ishares COM 464286822 1,514 42,400 SH SOLE 42,400 Ishares COM 464286848 9,437 698,000 SH SOLE 698,000 Ishares Tr COM 464287465 186,528 3,138,623 SH SOLE 3,138,623 Johnson & Johnson COM 478160104 2,548 42,400 SH SOLE 42,400 Johnson Matthey PLC COM 479142309 2,827 58,400 SH SOLE 58,400 Jones Apparel Group COM 480074103 45 1,450 SH SOLE 1,450 Kimberly Clark COM 494368103 34 575 SH SOLE 575 Kinder Morgan Inc COM 49455P101 791 8,600 SH SOLE 8,600 Kohls Corporation COM 500255104 34 700 SH SOLE 700 Lilly (Eli) and Co COM 532457108 1,811 32,000 SH SOLE 32,000 Lincoln National Corp COM 534187109 46 870 SH SOLE 870 Lowe's Cos Inc COM 548661107 47 700 SH SOLE 700 Lucent Technologies COM 549463107 5,054 1,900,000 SH SOLE 1,900,000 MDS Inc COM 55269P302 7,957 461,300 SH SOLE 461,300 MRV Communications Inc COM 553477100 2,134 1,041,100 SH SOLE 1,041,100 Magna International Inc COM 559222401 7,257 100,716 SH SOLE 100,716 Manulife Financial Corp COM 56501R106 14,248 243,300 SH SOLE 243,300
Masco Corp COM 574599106 33 1,100 SH SOLE 1,100 Methanex Corp COM 59151K108 272 14,500 SH SOLE 14,500 Microsoft Corp COM 594918104 3,538 135,300 SH SOLE 135,300 Monro Muffler Brake Inc COM 610236101 182 6,000 SH SOLE 6,000 Morgan Stanley Co COM 617446448 2,497 44,000 SH SOLE 44,000 Motorola Inc COM 620076109 1,062 47,000 SH SOLE 47,000 Nasdaq 100 COM 631100104 13,082 323,000 SH SOLE 323,000 Neurochem Inc COM 64125K101 238 16,700 SH SOLE 16,700 Nippon Tel & Tel Co COM 654624105 3,764 165,000 SH SOLE 165,000 Nokia Corp COM 654902204 183 10,000 SH SOLE 10,000 Nomura Holdings Inc COM 65535H208 3,556 185,000 SH SOLE 185,000 Nortel Networks Corp COM 656568102 3,190 1,047,700 SH SOLE 1,047,700 North Am Palladium COM 656912102 103 12,200 SH SOLE 12,200 North Fork Bancorporation COM 659424105 57 2,100 SH SOLE 2,100 Northgate Minerals Corp COM 666416102 150 81,900 SH SOLE 81,900 Nova Chemicals Corp COM 66977W109 3,915 117,600 SH SOLE 117,600 Novartis AG COM 66987V109 787 15,000 SH SOLE 15,000 Novelis Inc COM 67000X106 4,394 210,115 SH SOLE 210,115 PPG Industries COM 693506107 174 3,000 SH SOLE 3,000 Pepsico Inc COM 713448108 - - SH SOLE - Petro Canada Limited COM 71644E102 1,176 29,400 SH SOLE 29,400 Pfizer Inc COM 717081103 5,317 228,000 SH SOLE 228,000 Placer Dome Inc COM 725906101 10,412 456,000 SH SOLE 456,000 Potash Corp of Sask Inc COM 73755L107 335 4,200 SH SOLE 4,200 Precision Drilling Trust COM 740215108 408 12,400 SH SOLE 12,400 Procter & Gamble Co COM 742718109 232 4,000 SH SOLE 4,000 Prudential Financial Inc COM 744320102 51 700 SH SOLE 700 Quebecor World Inc COM 748203106 2,557 189,600 SH SOLE 189,600 Reed Elsevier NV COM 758204101 1,593 57,000 SH SOLE 57,000 Research In Motion COM 760975102 1,271 19,300 SH SOLE 19,300 Rexam plc COM 761655406 2,454 57,000 SH SOLE 57,000 Rogers Communication Class B COM 775109200 477 11,300 SH SOLE 11,300 Royal Bank of Canada COM 780087102 17,717 227,453 SH SOLE 227,453 Russell Corp COM 782352108 135 10,000 SH SOLE 10,000 SPDR Trust COM 78462F103 598,171 4,804,198 SH SOLE 4,804,198 Schlumberger Ltd COM 806857108 - - SH SOLE - Siemens AG COM 826197501 4,571 53,400 SH SOLE 53,400 Sierra Wireless Inc COM 826516106 151 13,700 SH SOLE 13,700 Statoil ASA COM 85771P102 827 36,000 SH SOLE 36,000 Sun Life Financial Inc COM 866796105 1,074 26,800 SH SOLE 26,800 Suncor Energy Inc COM 867229106 2,112 33,589 SH SOLE 33,589 TLC Vision Corp COM 872549100 66 10,200 SH SOLE 10,200
Talisman Energy Inc COM 87425E103 2,716 51,400 SH SOLE 51,400 Telus Corp COM 87971M202 915 22,850 SH SOLE 22,850 Tesco Corp COM 88157K101 175 9,500 SH SOLE 9,500 Thomson Corp COM 884903105 345 10,136 SH SOLE 10,136 3M Company COM 88579Y101 3,441 44,400 SH SOLE 44,400 Tomkins PLC COM 890030208 3,215 156,000 SH SOLE 156,000 Toronto Dominion Bank COM 891160509 7,054 134,526 SH SOLE 134,526 Toyota Motor Corporation COM 892331307 4,289 41,000 SH SOLE 41,000 TransAlta Corp COM 89346D107 3,838 176,100 SH SOLE 176,100 TransCanada Corp COM 89353D107 12,087 384,461 SH SOLE 384,461 TransGlobe Energy Corporation COM 893662106 68 13,200 SH SOLE 13,200 Tyco Intl Ltd COM 902124106 4,130 143,100 SH SOLE 143,100 United Technologies Corp COM 913017109 1,811 32,400 SH SOLE 32,400 United Technologies Corp COM 913017109 1,811 32,400 SH SOLE 32,400 UPM Kymmene Corporation COM 915436109 3,207 163,600 SH SOLE 163,600 Vasogen Inc COM 92232F103 48 23,800 SH SOLE 23,800 Verizon Comm COM 92343V104 2,982 99,000 SH SOLE 99,000 Viacom Inc COM 925524308 3,912 120,000 SH SOLE 120,000 Vodafone Group Plc COM 92857W100 35 1,650 SH SOLE 1,650 Volvo AB COM 928856400 2,811 59,700 SH SOLE 59,700 WPP Group PLC COM 929309300 1,728 32,000 SH SOLE 32,000 Wal Mart Stores Inc COM 931142103 3,707 79,200 SH SOLE 79,200 Wellpoint Inc COM 94973V107 52 650 SH SOLE 650 Westwood One COM 961815107 20 1,250 SH SOLE 1,250 Wyeth COM 983024100 2,350 51,000 SH SOLE 51,000 Deutsche Bank AG COM D18190898 3,265 33,700 SH SOLE 33,700 UBS AG COM H8920M855 1,836 19,300 SH SOLE 19,300 Check Point Software Tech Ltd COM M22465104 1,428 71,200 SH SOLE 71,200 2,010,915