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
Apple Inc COM 037833100 39,999 292,048 SH   SOLE   292,048 0 0
AbbVie Inc COM 00287Y109 9,442 83,829 SH   SOLE   83,829 0 0
Accenture PLC CL A G1151C101 5,751 19,509 SH   SOLE   19,509 0 0
Aflac Inc COM 001055102 3,697 68,889 SH   SOLE   68,889 0 0
Allstate Corp/The COM 020002101 6,333 48,551 SH   SOLE   48,551 0 0
AMC Networks Inc CL A 00164V103 85 1,267 SH   SOLE   1,267 0 0
American Tower Corp COM 03027X100 368 1,363 SH   SOLE   1,363 0 0
Amazon.Com Inc COM 023135106 8,463 2,460 SH   SOLE   2,460 0 0
Broadcom Inc COM 11135F101 5,520 11,576 SH   SOLE   11,576 0 0
AutoZone Inc COM 053332102 7,889 5,287 SH   SOLE   5,287 0 0
Franklin Resources Inc COM 354613101 4,386 137,108 SH   SOLE   137,108 0 0
Bristol-Myers Squibb Co COM 110122108 6,620 99,077 SH   SOLE   99,077 0 0
Boston Properties Inc COM 101121101 1,135 9,907 SH   SOLE   9,907 0 0
Citigroup Inc COM 172967424 9,554 135,045 SH   SOLE   135,045 0 0
Cardinal Health Inc COM 14149Y108 3,078 53,914 SH   SOLE   53,914 0 0
Check Point Software Technolog ORD M22465104 13,771 118,586 SH   SOLE   118,586 0 0
Cigna Corp COM 125523100 7,533 31,776 SH   SOLE   31,776 0 0
Colgate-Palmolive Co COM 194162103 5,605 68,902 SH   SOLE   68,902 0 0
Canadian Imperial Bank of Comm COM 136069101 6,482 56,883 SH   SOLE   56,883 0 0
Cisco Systems Inc COM 17275R102 9,129 172,253 SH   SOLE   172,253 0 0
Cvs Caremark Corp COM 126650100 9,625 115,357 SH   SOLE   115,357 0 0
Quest Diagnostics Inc COM 74834L100 12,505 94,758 SH   SOLE   94,758 0 0
Walt Disney Co/The COM 254687106 462 2,629 SH   SOLE   2,629 0 0
Dollar Tree Inc COM 256746108 1,204 12,100 SH   SOLE   12,100 0 0
Duke Energy Corp COM 26441C204 3,327 33,704 SH   SOLE   33,704 0 0
DaVita Inc COM 23918K108 5,741 47,672 SH   SOLE   47,672 0 0
DXC Technology Co COM 23355L106 9,575 245,889 SH   SOLE   245,889 0 0
eBay Inc COM 278642103 10,655 151,760 SH   SOLE   151,760 0 0
Consolidated Edison Inc COM 209115104 4,992 69,601 SH   SOLE   69,601 0 0
Entergy Corp COM 29364G103 5,651 56,676 SH   SOLE   56,676 0 0
Exelon Corp COM 30161N101 8,885 200,521 SH   SOLE   200,521 0 0
Ford Motor Co COM 345370860 306 20,561 SH   SOLE   20,561 0 0
Facebook Inc-A CL A 30303M102 15,869 45,639 SH   SOLE   45,639 0 0
F5 Networks Inc COM 315616102 8,752 46,887 SH   SOLE   46,887 0 0
Fidelity National Information COM 31620M106 2,581 18,220 SH   SOLE   18,220 0 0
Gilead Sciences Inc COM 375558103 8,952 130,007 SH   SOLE   130,007 0 0
General Mills Inc COM 370334104 1,944 31,904 SH   SOLE   31,904 0 0
General Motors Co COM 37045V100 7,753 131,023 SH   SOLE   131,023 0 0
Alphabet Inc Class C CL C 02079K107 5,283 2,108 SH   SOLE   2,108 0 0
Alphabet Inc Class A CL A 02079K305 16,673 6,828 SH   SOLE   6,828 0 0
Great Panther Mining Ltd COM 39115V101 358 568,197 SH   SOLE   568,197 0 0
W W Grainger Inc COM 384802104 15,761 35,984 SH   SOLE   35,984 0 0
HCA Holdings Inc COM 40412C101 12,391 59,934 SH   SOLE   59,934 0 0
Hewlett-Packard Co COM 40434L105 11,802 390,932 SH   SOLE   390,932 0 0
Hershey Co/The COM 427866108 5,283 30,332 SH   SOLE   30,332 0 0
Intl Business Machines Corp COM 459200101 9,276 63,281 SH   SOLE   63,281 0 0
Industrial Logistics Properties Trust COM 456237106 2,724 104,218 SH   SOLE   104,218 0 0
Summit Hotel Properties Inc COM 866082100 195 20,952 SH   SOLE   20,952 0 0
Intel Corp COM 458140100 16,801 299,263 SH   SOLE   299,263 0 0
Johnson & Johnson COM 478160104 9,595 58,244 SH   SOLE   58,244 0 0
JPMorgan Chase & Co COM 46625H100 1,664 10,700 SH   SOLE   10,700 0 0
Kinross Gold Corp COM 496902404 6,731 1,060,500 SH   SOLE   1,060,500 0 0
Kirkland Lake Gold Ltd COM 49741E100 6,801 176,300 SH   SOLE   176,300 0 0
Kimberly-Clark Corp COM 494368103 5,074 37,929 SH   SOLE   37,929 0 0
Coca-Cola Co/The COM 191216100 574 10,600 SH   SOLE   10,600 0 0
Kroger Co/The COM 501044101 14,359 374,799 SH   SOLE   374,799 0 0
Laboratory Corporation of America Holdings COM 50540R409 19,086 69,191 SH   SOLE   69,191 0 0
Lincoln National Corp COM 534187109 461 7,333 SH   SOLE   7,333 0 0
Lyondellbasell Indu-Cl A CL A N53745100 2,421 23,535 SH   SOLE   23,535 0 0
Mastercard Inc-Class A CL A 57636Q104 1,574 4,310 SH   SOLE   4,310 0 0
Mckesson Corp COM 58155Q103 7,464 39,029 SH   SOLE   39,029 0 0
Medtronic Inc. COM G5960L103 1,696 13,661 SH   SOLE   13,661 0 0
Mizuho Financial Group Inc ADR ADR 60687Y109 2,302 807,784 SH   SOLE   807,784 0 0
Marsh & McLennan Cos Inc COM 571748102 4,066 28,906 SH   SOLE   28,906 0 0
Merck & Co Inc COM 58933Y105 10,067 129,452 SH   SOLE   129,452 0 0
Microsoft Corporation COM 594918104 33,100 122,185 SH   SOLE   122,185 0 0
Motorola Solutions Inc COM 620076307 7,969 36,749 SH   SOLE   36,749 0 0
Mitsubishi UFJ Financial Group Inc ADR ADR 606822104 2,568 473,888 SH   SOLE   473,888 0 0
Newmont Mining Corp COM 651639106 10,354 163,357 SH   SOLE   163,357 0 0
Netflix Inc COM 64110L106 423 800 SH   SOLE   800 0 0
Organon & Co COM 68622V106 444 14,675 SH   SOLE   14,675 0 0
Oracle Corp COM 68389X105 6,346 81,520 SH   SOLE   81,520 0 0
Open Text Corp COM 683715106 7,580 149,116 SH   SOLE   149,116 0 0
Healthpeak Properties Inc COM 42250P103 3,082 92,589 SH   SOLE   92,589 0 0
Public Service Enterprise Group Inc COM 744573106 1,511 25,295 SH   SOLE   25,295 0 0
PepsiCo Inc COM 713448108 5,521 37,264 SH   SOLE   37,264 0 0
Pfizer Inc COM 717081103 4,771 121,829 SH   SOLE   121,829 0 0
Procter and Gamble CO/THE COM 742718109 11,635 86,230 SH   SOLE   86,230 0 0
Progressive Corp COM 743315103 4,920 50,093 SH   SOLE   50,093 0 0
Public Storage COM 74460D109 6,453 21,462 SH   SOLE   21,462 0 0
QUALCOMM Inc COM 747525103 1,652 11,561 SH   SOLE   11,561 0 0
Rogers Communications Inc CL B 775109200 5,534 103,992 SH   SOLE   103,992 0 0
Everest Re Group Ltd COM G3223R108 12,150 48,212 SH   SOLE   48,212 0 0
Rio Tinto Plc-Spon ADR ADR 767204100 7,724 92,072 SH   SOLE   92,072 0 0
RenaissanceRe Holdings Ltd COM G7496G103 4,870 32,721 SH   SOLE   32,721 0 0
Royal Bank of Canada COM 780087102 7,515 74,100 SH   SOLE   74,100 0 0
Sabra Health Care Reit Inc COM 78573L106 4,669 256,549 SH   SOLE   256,549 0 0
JM Smucker Co/The COM 832696405 8,274 63,861 SH   SOLE   63,861 0 0
Skechers USA Inc CL A 830566105 5,014 100,619 SH   SOLE   100,619 0 0
Sumitomo Mitsui Financial Group Inc ADR ADR 86562M209 2,384 345,990 SH   SOLE   345,990 0 0
Southern Company COM 842587107 9,649 159,463 SH   SOLE   159,463 0 0
Stellantis NV COM N82405106 13,546 690,393 SH   SOLE   440,696 0 0
AT&T Inc COM 00206R102 12,954 450,094 SH   SOLE   450,094 0 0
Toronto-Dominion Bank/The COM 891160509 5,462 77,852 SH   SOLE   77,852 0 0
TC Energy Corp COM 87807B107 1,736 35,038 SH   SOLE   35,038 0 0
Travelers Cos Inc/The COM 89417E109 6,879 45,946 SH   SOLE   45,946 0 0
Take-Two Interactive Software COM 874054109 3,141 17,744 SH   SOLE   17,744 0 0
US Bancorp COM 902973304 3,120 54,768 SH   SOLE   54,768 0 0
Visa Inc-Class A Shares CL A 92826C839 12,540 53,630 SH   SOLE   53,630 0 0
VeriSign Inc COM 92343E102 4,986 21,900 SH   SOLE   21,900 0 0
Viatris Inc COM 92556V106 1,083 75,784 SH   SOLE   75,784 0 0
Verizon Communications Inc COM 92343V104 25,382 453,003 SH   SOLE   453,003 0 0
Walgreens Boots Alliance Inc COM 931427108 1,574 29,911 SH   SOLE   29,911 0 0
WEC Energy Group Inc COM 92939U106 3,590 40,365 SH   SOLE   40,365 0 0
Welltower Inc COM 95040Q104 748 9,000 SH   SOLE   9,000 0 0
Waste Management Inc COM 94106L109 3,137 22,387 SH   SOLE   22,387 0 0
Wal-Mart Stores Inc COM 931142103 9,433 66,894 SH   SOLE   66,894 0 0
WP Carey Inc COM 92936U109 5,093 68,252 SH   SOLE   68,252 0 0
Wheaton Precious Metals Ord Shs COM 962879102 6,569 148,871 SH   SOLE   148,871 0 0
Exxon Mobil Corp COM 30231G102 3,833 60,764 SH   SOLE   60,764 0 0