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
Estimated average burden
hours per response: 23.8
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
AGCO CORP COM 001084102 20,736 444,700 SH   DFND 1 444,700 0 0
AGRIUM INC COM 008916108 38,574 322,525 SH   DFND 1 322,525 0 0
ALLERGAN PLC COM G0177J108 19,489 71,700 SH   DFND 1 71,700 0 0
AMDOCS LTD COM G02602103 31,568 555,000 SH   DFND 1 555,000 0 0
AMERICAN EXPRESS COMPANY COM 025816109 113,360 1,529,200 SH   DFND 1 1,529,200 0 0
AMERICAN RESIDENTIAL PROPERTIES INC COM 02927E303 13,781 798,000 SH   DFND 1 798,000 0 0
AMERICAN TOWER CORP COM 03027X100 20,999 238,674 SH   DFND 1 238,674 0 0
AMERICAN WATER WORKS CO INC COM 030420103 9,408 170,800 SH   DFND 1 170,800 0 0
AMERISOURCEBERGEN CORP COM 03073E105 71,224 749,800 SH   DFND 1 749,800 0 0
APPLE INC COM 037833100 7,500 68,000 SH   DFND 1 68,000 0 0
AVALONBAY COMMUNITIES INC COM 053484101 30,209 172,800 SH   DFND 1 172,800 0 0
B2GOLD CORP COM 11777Q209 23,392 16,589,880 SH   DFND 1 16,589,880 0 0
BAIDU INC ADR 056752108 1,237 9,005 SH   DFND 1 9,005 0 0
BANK OF NOVA SCOTIA COM 064149107 2,412 41,000 SH   DFND 1 41,000 0 0
BARD C R INC COM 067383109 15,128 81,200 SH   DFND 1 81,200 0 0
BAXALTA INC COM 07177M103 15,772 500,550 SH   DFND 1 500,550 0 0
BAXTER INTERNATIONAL INC COM 071813109 42,166 1,283,600 SH   DFND 1 1,283,600 0 0
BAYTEX ENERGY CORP COM 07317Q105 2,691 630,300 SH   DFND 1 630,300 0 0
BCE INC COM 05534B760 2,446 44,790 SH   DFND 1 44,790 0 0
BECTON DICKINSON AND CO COM 075887109 42,252 318,500 SH   DFND 1 318,500 0 0
BEMIS INC COM 081437105 396 10,000 SH   DFND 1 10,000 0 0
BERKSHIRE HATHAWAY INC CL A 084670108 106,406 545 SH   DFND 1 545 0 0
BERKSHIRE HATHAWAY INC CL B 084670702 12,850 98,545 SH   DFND 1 98,545 0 0
BLOCK H & R INC COM 093671105 2,516 69,500 SH   DFND 1 69,500 0 0
BOSTON PROPERTIES INC COM 101121101 25,860 218,415 SH   DFND 1 218,415 0 0
BROOKFIELD ASSET MGMT INC. CL A 112585104 150,835 3,592,165 SH   DFND 1 3,592,165 0 0
BROOKFIELD INFRASTRUCTURE PARTNERS L.P. LP INT UNIT G16252101 13,119 266,806 SH   DFND 1 266,806 0 0
CAE INC COM 124765108 638 45,100 SH   DFND 1 45,100 0 0
CAMDEN PROPERTY TRUST UNIT 133131102 20,323 275,000 SH   DFND 1 275,000 0 0
CANADIAN NATURAL RESOURCES LTD COM 136385101 4,775 183,800 SH   DFND 1 183,800 0 0
CANADIAN NATIONAL RAILWAY CO COM 136375102 170,605 2,251,320 SH   DFND 1 2,251,320 0 0
CANADIAN PACIFIC RAILWAY LTD COM 13645T100 18,790 98,100 SH   DFND 1 98,100 0 0
CANADIAN IMPERIAL BANK OF COMMERCE COM 136069101 2,619 27,300 SH   DFND 1 27,300 0 0
CINEMARK HOLDINGS INC COM 17243V102 86,966 2,676,715 SH   DFND 1 2,676,715 0 0
CISCO SYSTEMS INC COM 17275R102 45,833 1,746,000 SH   DFND 1 1,746,000 0 0
CME GROUP INC COM 12572Q105 5,370 57,900 SH   DFND 1 57,900 0 0
COMCAST CORP CL A 20030N101 135,834 2,388,083 SH   DFND 1 2,388,083 0 0
CRESCENT POINT ENERGY CORP COM 22576C101 4,575 299,587 SH   DFND 1 299,587 0 0
CRH MEDICAL CORP COM 12626F105 816 191,000 SH   DFND 1 191,000 0 0
CROWN CASTLE INTERNATIONAL CORP COM 22822V101 15,087 191,295 SH   DFND 1 191,295 0 0
CROWN HOLDINGS INC COM 228368106 83,292 1,820,600 SH   DFND 1 1,820,600 0 0
CST BRANDS INC COM 12646R105 42,141 1,251,960 SH   DFND 1 1,251,960 0 0
CSX CORP COM 126408103 151,120 5,617,840 SH   DFND 1 5,617,840 0 0
CVS HEALTH CORP COM 126650100 136,519 1,415,000 SH   DFND 1 1,415,000 0 0
DEERE & CO COM 244199105 32,197 435,100 SH   DFND 1 435,100 0 0
DELPHI AUTOMOTIVE PLC COM G27823106 15,903 209,146 SH   DFND 1 209,146 0 0
DENISON MINES CORP COM 248356107 850 1,700,000 SH   DFND 1 1,700,000 0 0
DISCOVERY COMMUNICATNS COM 25470F104 7,866 302,200 SH   DFND 1 302,200 0 0
DISNEY WALT CO COM 254687106 29,853 292,100 SH   DFND 1 292,100 0 0
DOW CHEM CO COM 260543103 17,638 416,000 SH   DFND 1 416,000 0 0
DUN & BRADSTREET CORP COM 26483E100 1,680 16,000 SH   DFND 1 16,000 0 0
EDISON INTERNATIONAL COM 281020107 7,371 116,865 SH   DFND 1 116,865 0 0
ENBRIDGE INC COM 29250N105 27,897 563,015 SH   DFND 1 563,015 0 0
EXELON CORPORATION COM 30161N101 9,461 318,550 SH   DFND 1 318,550 0 0
EXPRESS SCRIPTS HOLDING CO COM 30219G108 112,611 1,390,950 SH   DFND 1 1,390,950 0 0
FEDERAL REALTY INVESTMENT TRUST UNIT 313747206 912 6,685 SH   DFND 1 6,685 0 0
FIRST REPUBLIC BANK/CA COM 33616C100 23,162 369,000 SH   DFND 1 369,000 0 0
FISERV INC COM 337738108 11,103 128,200 SH   DFND 1 128,200 0 0
FORTUNA SILVER MINES INC COM 349915108 5,251 1,792,000 SH   DFND 1 1,792,000 0 0
GENERAC HLDGS INC COM 368736104 1,291 42,900 SH   DFND 1 42,900 0 0
GENERAL GROWTH PROPERTIES INC COM 370023103 26,030 1,002,299 SH   DFND 1 1,002,299 0 0
GOLDEN STAR RES LTD CDA COM 38119T104 7,998 30,180,600 SH   DFND 1 30,180,600 0 0
GOOGLE INC CL A 38259P508 51,704 80,993 SH   DFND 1 80,993 0 0
GOOGLE INC CL C 38259P706 113,910 187,223 SH   DFND 1 187,223 0 0
HARLEY DAVIDSON INC. COM 412822108 9,717 177,000 SH   DFND 1 177,000 0 0
HEALTHSOUTH CORP. COM 421924309 1,294 33,715 SH   DFND 1 33,715 0 0
HSBC HOLDINGS PLC 5.625% 12/29/2049 NOTE 404280AR0 1,021,125 10,500,000 SH   DFND 1 10,500,000 0 0
HUDBAY MINERALS INC COM 443628102 1,185 240,400 SH   DFND 1 240,400 0 0
INTERNATIONAL FLAVORS & FRAGRANCES INC COM 459506101 8,364 81,000 SH   DFND 1 81,000 0 0
JARDEN CORP. COM 471109108 46,485 951,000 SH   DFND 1 951,000 0 0
JOHNSON & JOHNSON COM 478160104 10,231 109,600 SH   DFND 1 109,600 0 0
JPMORGAN CHASE & CO COM 46625H100 143,010 2,345,580 SH   DFND 1 2,345,580 0 0
KANSAS CITY SOUTHERN COM 485170302 28,332 311,757 SH   DFND 1 311,757 0 0
KINDER MORGAN INC COM 49456B101 13,372 483,077 SH   DFND 1 483,077 0 0
LABORATORY CORP OF AMERICA HOLDINGS COM 50540R409 19,308 178,000 SH   DFND 1 178,000 0 0
LAKE SHORE GOLD CORP COM 510728108 23,334 20,833,500 SH   DFND 1 20,833,500 0 0
LEUCADIA NATIONAL CORP COM 527288104 76,148 3,758,550 SH   DFND 1 3,758,550 0 0
MACQUARIE INFRASTRUCTURE CORP. COM 55608B105 42,025 562,881 SH   DFND 1 562,881 0 0
MAGNA INTERNATIONAL INC COM 559222401 155,980 2,436,800 SH   DFND 1 2,436,800 0 0
MANULIFE FINANCIAL CORPORATION COM 56501R106 27,119 1,313,900 SH   DFND 1 1,313,900 0 0
MARATHON PETE CORP COM 56585A102 1,297 28,000 SH   DFND 1 28,000 0 0
MARKEL CORP COM 570535104 30,551 38,100 SH   DFND 1 38,100 0 0
MASTERCARD INC CL A 57636Q104 111,412 1,236,260 SH   DFND 1 1,236,260 0 0
MCDONALD'S CORP COM 580135101 61,764 626,850 SH   DFND 1 626,850 0 0
MCKESSON CORP COM 58155Q103 122,518 662,150 SH   DFND 1 662,150 0 0
MEDTRONIC INC COM G5960L103 155,771 2,327,030 SH   DFND 1 2,327,030 0 0
METHANEX CORP. COM 59151K108 1,729 39,100 SH   DFND 1 39,100 0 0
MICROSEMI CORP COM 595137100 926 28,200 SH   DFND 1 28,200 0 0
MICROSOFT CORP COM 594918104 91,065 2,057,500 SH   DFND 1 2,057,500 0 0
MONDELEZ INTL INC CL A 609207105 1,424 34,000 SH   DFND 1 34,000 0 0
MOUNTAIN PROVINCE DIAMONDS INC. COM 62426E402 1,117 324,650 SH   DFND 1 324,650 0 0
NATIONAL OILWELL VARCO INC COM 637071101 22,247 590,900 SH   DFND 1 590,900 0 0
NEXTERA ENERGY INC COM 65339F101 11,259 115,416 SH   DFND 1 115,416 0 0
NEXTERA ENERGY PARTNERS LP LP UNIT 65341B106 5,690 261,000 SH   DFND 1 261,000 0 0
NIELSEN HLDGS PLC COM G6518L108 130,956 2,944,825 SH   DFND 1 2,944,825 0 0
NORDSON CORPORATION COM 655663102 1,053 16,725 SH   DFND 1 16,725 0 0
NORFOLK SOUTHERN CORP COM 655844108 54,005 706,873 SH   DFND 1 706,873 0 0
NRG YIELD INC CL A 62942X306 1,282 115,000 SH   DFND 1 115,000 0 0
NRG YIELD INC CL C 62942X405 6,191 533,270 SH   DFND 1 533,270 0 0
NXP SEMICONDUCTOR NV COM N6596X109 22,505 258,475 SH   DFND 1 258,475 0 0
OMNICOM GROUP INC COM 681919106 67,402 1,022,790 SH   DFND 1 1,022,790 0 0
ORACLE CORP COM 68389X105 391,766 10,846,225 SH   DFND 1 10,846,225 0 0
PATTERN ENERGY GROUP INC CL A 70338P100 9,719 509,138 SH   DFND 1 509,138 0 0
PEMBINA PIPELINE CORP COM 706327103 15,107 470,485 SH   DFND 1 470,485 0 0
PENSKE AUTOMOTIVE GROUP INC COM 70959W103 57,414 1,185,261 SH   DFND 1 1,185,261 0 0
PERFORMANCE SPORTS GROUP LTD COM 71377G100 34,204 1,912,975 SH   DFND 1 1,912,975 0 0
PHILIP MORRIS INTERNATIONAL INC COM 718172109 49,514 624,150 SH   DFND 1 624,150 0 0
POTASH CORPORATION OF SASKATCHEWAN INC./THE COM 73755L107 14,236 519,000 SH   DFND 1 519,000 0 0
PRAXAIR INC COM 74005P104 38,422 377,200 SH   DFND 1 377,200 0 0
PRIMERO MINING CORP COM 74164W106 42,412 13,593,536 SH   DFND 1 13,593,536 0 0
PROGRESSIVE WASTE SOLUTIONS LTD COM 74339G101 314,200 8,903,360 SH   DFND 1 8,903,360 0 0
PROLOGIS INC COM 74340W103 50,272 1,292,340 SH   DFND 1 1,292,340 0 0
PTC INC COM 69370C100 933 29,400 SH   DFND 1 29,400 0 0
PUBLIC STORAGE COM 74460D109 1,501 7,093 SH   DFND 1 7,093 0 0
PVH CORP COM 693656100 23,752 233,000 SH   DFND 1 233,000 0 0
QUALCOMM INC COM 747525103 54,590 1,016,000 SH   DFND 1 1,016,000 0 0
RAYMOND JAMES FINANCIAL INC COM 754730109 2,531 51,000 SH   DFND 1 51,000 0 0
REPUBLIC SERVICES INC COM 760759100 373,246 9,059,361 SH   DFND 1 9,059,361 0 0
RICHMONT MINES INC COM 76547T106 9,893 2,652,300 SH   DFND 1 2,652,300 0 0
ROYAL BANK OF CANADA COM 780087102 2,306 31,250 SH   DFND 1 31,250 0 0
SANDSTORM GOLD LTD COM 80013R206 29,919 8,427,984 SH   DFND 1 8,427,984 0 0
SBA COMMUNICATIONS CORP COM 78388J106 13,644 130,265 SH   DFND 1 130,265 0 0
SCHOLASTIC CORP COM 807066105 1,983 50,900 SH   DFND 1 50,900 0 0
SEMPRA ENERGY COM 816851109 14,473 149,635 SH   DFND 1 149,635 0 0
SHAW COMMUNICATIONS INC CL B 82028K200 54,336 2,102,800 SH   DFND 1 2,102,800 0 0
SILVER WHEATON CORP COM 828336107 4,239 264,250 SH   DFND 1 264,250 0 0
SIMON PROPERTY GROUP INC COM 828806109 52,515 285,845 SH   DFND 1 285,845 0 0
SPDR GOLD TRUST COM 78463V107 9,361 87,600 SH   DFND 1 87,600 0 0
STANTEC INC COM 85472N109 37,739 1,292,425 SH   DFND 1 1,292,425 0 0
STARWOOD HOTELS & RESORTS WORLDWIDE INC COM 85590A401 18,242 274,405 SH   DFND 1 274,405 0 0
STILLWATER MINING CO COM 86074Q102 405 39,200 SH   DFND 1 39,200 0 0
SUN LIFE FINANCIAL INC COM 866796105 1,476 34,300 SH   DFND 1 34,300 0 0
SUNCOR ENERGY INC COM 867224107 1,111 31,120 SH   DFND 1 31,120 0 0
SYNOPSYS INC COM 871607107 880 19,050 SH   DFND 1 19,050 0 0
TAHOE RESOURCES INC. COM 873868103 26,955 2,614,409 SH   DFND 1 2,614,409 0 0
TE CONNECTIVITY LTD COM H84989104 21,704 362,400 SH   DFND 1 362,400 0 0
TEEKAY CORPORATION COM Y8564W103 11,725 395,566 SH   DFND 1 395,566 0 0
TELUS CORP COM 87971M103 127,856 3,040,575 SH   DFND 1 3,040,575 0 0
THOMSON REUTERS CORP COM 884903105 2,478 46,200 SH   DFND 1 46,200 0 0
TIMMINS GOLD CORP COM 88741P103 8,498 25,366,800 SH   DFND 1 25,366,800 0 0
TJX COS INC/THE COM 872540109 101,071 1,415,160 SH   DFND 1 1,415,160 0 0
TORCHMARK CORP COM 891027104 35,870 636,000 SH   DFND 1 636,000 0 0
TORONTO DOMINION BK COM 891160509 60,995 1,159,600 SH   DFND 1 1,159,600 0 0
TRANSCANADA CORP COM 89353D107 110,336 2,614,600 SH   DFND 1 2,614,600 0 0
UBS GROUP AG COM H42097107 15,260 847,290 SH   DFND 1 847,290 0 0
UNION PACIFIC CORP COM 907818108 112,357 1,270,863 SH   DFND 1 1,270,863 0 0
UNITED PARCEL SERVICE INC CL B 911312106 366,054 3,709,131 SH   DFND 1 3,709,131 0 0
UNITED TECHNOLOGIES CORP COM 913017109 47,717 536,210 SH   DFND 1 536,210 0 0
UNITEDHEALTH GROUP INC. COM 91324P102 43,666 376,400 SH   DFND 1 376,400 0 0
US BANCORP COM 902973304 136,164 3,320,275 SH   DFND 1 3,320,275 0 0
VALERO ENERGY CORP COM 91913Y100 1,202 20,000 SH   DFND 1 20,000 0 0
VARIAN MEDICAL SYSTEMS INC COM 92220P105 23,005 311,800 SH   DFND 1 311,800 0 0
VENTAS INC COM 92276F100 893 15,935 SH   DFND 1 15,935 0 0
VERISIGN INC COM 92343E102 79,247 1,123,110 SH   DFND 1 1,123,110 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 56,650 1,302,000 SH   DFND 1 1,302,000 0 0
VERMILION ENERGY INC COM 923725105 9,102 211,825 SH   DFND 1 211,825 0 0
VISA INC CL A 92826C839 86,404 1,240,372 SH   DFND 1 1,240,372 0 0
VORNADO REALTY TRUST INT 929042109 916 10,135 SH   DFND 1 10,135 0 0
WASTE CONNECTIONS INC COM 941053100 2,327 47,900 SH   DFND 1 47,900 0 0
WATERS CORP COM 941848103 14,303 121,000 SH   DFND 1 121,000 0 0
WELLS FARGO & CO COM 949746101 136,945 2,666,895 SH   DFND 1 2,666,895 0 0
WILLIAMS COS INC/THE COM 969457100 13,959 378,815 SH   DFND 1 378,815 0 0
ZIMMER HOLDINGS INC COM 98956P102 88,413 941,270 SH   DFND 1 941,270 0 0
ZOETIS INC CL A 98978V103 449 10,900 SH   DFND 1 10,900 0 0