The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
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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 MANAGER SOLE SHARED NONE
Advantage Oil & Gas Ltd. COM 00765F101 951 139,788 SH   SOLE   139,788 0 0
Agnico Eagle Mines Ltd COM 008474108 35,693 847,946 SH   SOLE   649,346 0 198,600
Brookfield Asset Management Inc. CL A LTD VT SH 112585104 51,594 1,561,865 SH   SOLE   1,178,145 0 383,720
Cott Corp. COM 22163N106 2,851 251,600 SH   SOLE   251,600 0 0
BCE Inc. NEW 05534B760 55,098 1,273,299 SH   SOLE   937,999 0 335,300
Bank of Montreal COM 063671101 77,872 1,081,400 SH   SOLE   826,700 0 254,700
Bank of Nova Scotia COM 064149107 116,564 2,090,935 SH   SOLE   1,599,865 0 491,070
Baytex Energy Corp COM 07317Q105 1,377 281,590 SH   SOLE   281,590 0 0
Canadian Imperial Bank of Commerce COM 136069101 43,871 536,994 SH   SOLE   411,364 0 125,630
Canadian Natural Resources Ltd. COM 136385101 45,371 1,421,950 SH   SOLE   1,082,830 0 339,120
Canadian National Railway COM 136375102 68,368 1,014,662 SH   SOLE   789,595 0 225,067
Canadian Pacific Railway Ltd. COM 13645T100 72,206 505,506 SH   SOLE   390,606 0 114,900
Cenovus Energy Inc. COM 15135U109 33,794 2,232,500 SH   SOLE   1,674,500 0 558,000
Encana Corp. COM 292505104 26,501 2,255,200 SH   SOLE   1,723,400 0 531,800
Endeavour Silver COM 29258Y103 568 160,400 SH   SOLE   160,400 0 0
Enbridge Inc. COM 29250N105 77,300 1,834,750 SH   SOLE   1,408,050 0 426,700
Enerplus Corp COM 292766102 190 20,000 SH   SOLE   20,000 0 0
Franco-Nevada Corp. COM 351858105 33,055 552,179 SH   SOLE   388,329 0 163,850
New First Service Corp. SUB VTG SH 33767E103 620 13,049 SH   SOLE   13,049 0 0
Fortis Inc. ADDED 349553107 34,583 1,118,600 SH   SOLE   865,500 0 253,100
Goldcorp Inc. COM 380956409 19,365 1,420,627 SH   SOLE   1,313,247 0 107,380
CGI Group Class A CL A SUB VTG 39945C109 31,864 663,134 SH   SOLE   516,027 0 147,107
Gildan Activewear Class A COM 375916103 21,421 842,780 SH   SOLE   664,020 0 178,760
Hudbay Minerals Inc. COM 443628102 973 169,940 SH   SOLE   169,940 0 0
Klondex Mines Ltd COM 498696103 977 209,686 SH   SOLE   209,686 0 0
Manulife Financial Corp. COM 56501R106 89,855 5,039,857 SH   SOLE   3,667,314 0 1,372,543
Magna International Inc. Class A COM 559222401 42,332 973,736 SH   SOLE   737,900 0 235,836
Methanex Corp. COM 59151K108 16,112 366,900 SH   SOLE   281,200 0 85,700
Nevsun Resources Ltd. COM 64156L101 767 247,709 SH   SOLE   247,709 0 0
Norbord Inc. NEW 65548P403 574 22,710 SH   SOLE   22,710 0 0
Open Text Corp. COM 683715106 36,166 584,913 SH   SOLE   457,703 0 127,210
Potash Corp. of Saskatchewan COM 73755L107 41,304 2,280,400 SH   SOLE   1,746,180 0 534,220
Restaurant Brands International COM 76131D103 37,852 793,797 SH   SOLE   599,767 0 194,030
Royal Bank of Canada COM 780087102 168,775 2,490,757 SH   SOLE   1,912,379 0 578,378
Sun Life Financial Inc. COM 866796105 43,294 1,126,279 SH   SOLE   1,048,789 0 77,490
Silver Wheaton Corp COM 828336107 17,998 930,440 SH   SOLE   859,790 0 70,650
Sandstorm Gold Ltd NEW 80013R206 788 200,483 SH   SOLE   200,483 0 0
Suncor Energy Inc. COM 867224107 75,826 2,316,309 SH   SOLE   1,748,713 0 567,596
Transalta Corp. COM 89346D107 471 85,000 SH   SOLE   85,000 0 0
Toronto-Dominion Bank NEW 891160509 169,804 3,438,767 SH   SOLE   2,613,635 0 825,132
TransCanada Corp. COM 89353D107 68,111 1,508,760 SH   SOLE   1,160,960 0 347,800
Waste Connections Inc COM 94106B101 49,110 625,180 SH   SOLE   478,602 0 146,578
Allegion Plc SHS G0176J109 890 13,900 SH   SOLE   13,900 0 0
Bank of America Corp. COM 060505104 4,420 200,000 SH   SOLE   200,000 0 0
Boise Cascade Corp. COM 09739D100 1,125 50,000 SH   SOLE   50,000 0 0
Beacon Roofing Supply Inc COM 073685109 1,212 26,300 SH   SOLE   26,300 0 0
Builders Firstsource COM 12008R107 1,262 115,000 SH   SOLE   115,000 0 0
BMC Stock Holdings Inc COM 05591B109 1,755 90,000 SH   SOLE   90,000 0 0
Citigroup Inc. NEW 172967424 4,754 80,000 SH   SOLE   80,000 0 0
CSX Corp. COM 126408103 1,078 30,000 SH   SOLE   30,000 0 0
Dycom Industries Inc COM 267475101 1,204 15,000 SH   SOLE   15,000 0 0
E Trade Financial Group Inc NEW 269246401 2,599 75,000 SH   SOLE   75,000 0 0
Granite Construction Inc COM 387328107 1,788 32,500 SH   SOLE   32,500 0 0
Home Depot COM 437076102 1,341 10,000 SH   SOLE   10,000 0 0
JP Morgan Chase & Company COM 46625H100 863 10,000 SH   SOLE   10,000 0 0
Masco Corp. COM 574599106 474 15,000 SH   SOLE   15,000 0 0
Mueller Water Products Inc COM SER A 624758108 1,198 90,000 SH   SOLE   90,000 0 0
Precision Drilling Corp COM 2010 74022D308 545 100,000 SH   SOLE   100,000 0 0
PGT Innovations Inc COM 69336V101 2,834 247,500 SH   SOLE   247,500 0 0
PNC Bank Corp. COM 693475105 1,462 12,500 SH   SOLE   12,500 0 0
Carrols Restaurant Group Inc COM 14574X104 1,372 90,000 SH   SOLE   90,000 0 0
Union Pacific COM 907818108 1,555 15,000 SH   SOLE   15,000 0 0
United Rentals Inc COM 911363109 1,056 10,000 SH   SOLE   10,000 0 0
US Concrete Inc NEW 90333L201 1,146 17,500 SH   SOLE   17,500 0 0
Wells Fargo & Company COM 949746101 1,653 30,000 SH   SOLE   30,000 0 0
Weyerhaeuser Company COM 962166104 1,053 35,000 SH   SOLE   35,000 0 0
Vaneck Vectors Junior Gold M ETF JR GOLD MINERS E 92189F791 946 30,000 SH   SOLE   30,000 0 0