STONE PORTFOLIO NOTES

@ March 31, 2021

HOLDING % HOLDING %

Weightings: Growth 40.5 Weightings: Inflation 0.8 Abbott Laboratories 0.8  Ecolab 0.5 BCE Inc. 0.2  Pembina Pipeline Corporation 0.3 Cargojet Inc. 0.5  Coca-Cola Company 0.3  Weightings: Interest Sensitive 10.0 Costco Wholesale Corp. 0.6  AES Corp. 0.7 Fidelity National Information Services 0.4  Algonquin Power & Utilities Corp. 0.4 Jamieson Wellness Inc. 0.5  Bank of 0.3 Microsoft Corp. 0.9  Bank of Nova Scotia 1.0 Open Text Corp. 0.4  Inc. 0.4 Oracle Corporation 0.5  Brookfield Asset Management Inc., Cl. A 0.8 Park Lawn Corp. 0.4  Brookfield Infrastructure Partners L.P. 0.4 Stantec Inc. 0.3  Canadian Imperial Bank of Commerce 0.6 Stone Global Sustainability Fund, Sr. A 13.6  Choice Properties REIT 0.3 Stone Global Growth Fund, Sr. A 17.7  Granite REIT 0.2 Stryker Corp. 0.6  Northland Power Inc. 0.5 TELUS Corp. 0.3  Corp. 0.6 TFI International Inc. 0.9  Royal Bank of 1.5 UnitedHealth Group Inc. 0.3 Summit Industrial Income REIT 0.2 Visa 0.8  Sun Life Financial Inc. 0.3 Waste Connections Inc. 0.5  Toronto-Dominion Bank 1.4 Transalta Corp. 0.4

Cash & Other Assets (Liabilities) 3.6

Fixed Income 45.1

Net Asset Value 100.0

/

HOLDING % HOLDING % HOLDING % Weightings: Fixed Income 45.1 Weightings: Fixed Income (Cont’d) Weightings: Fixed Income (Cont’d) 407 International Inc., 2.430%, 5/4/27 0.1  Husky Energy Inc., 3.500%, 02/07/28 0.7 Province of , 3.500%, 12/01/48 1.2 407 International Inc., 3.430%, 6/1/33 0.2  Hydro One Inc., 3.630%, 6/25/49 0.2 Province of Quebec, 4.250%, 12/01/43 0.7 Alectra Inc., 5.297%, 04/29/41 0.1  Iron Mountain, 4.500%, 02/15/31 0.1 RioCan REIT, 1.974%, 6/15/26 0.5 Algonquin Power, 4.600%, 01/29/29 0.4  Iron Mountain, 5.000%, 07/15/28 0.1 RioCan REIT, 2.194%, 04/09/21 0.5 Alimentation Couche-Tard, 3.899%, 11/01/22 0.1  Mattel Inc., 3.375%, 4/1/26 0.1 Rogers Communications Inc, 4.000%, 03/13/24 0.4 Altagas Ltd., 2.477%, 11/30/30 0.5  Newell Brands Inc., 4.875%, 06/01/25 0.1 Rogers Communications Inc., 3.650%, 03/31/27 0.2 Arc Resources Ltd., 2.354%, 3/10/26 0.6 Pembina Pipeline Corp., Var Rt, 1/25/81 0.3 Stantec Inc., 2.048%, 10/08/27 0.0 Bank of America, Var. Rt., 9/20/25 0.3  Province of Alberta, 3.100%, 06/01/50 0.2 Stericycle Inc., 3.875%, 1/15/29 0.2 Bank of America, 2.598%., 4/4/29 0.2  Province of British Columbia, 2.550%, 6/18/27 0.5 Sun Life Financial, Var. Rt., 09/19/28 0.6 BCE Inc., 2.500%, 5/14/30 0.2 Province of British Columbia, 2.800%, 06/18/48 0.1 Sun Life Financial, Var. Rt., 10/01/35 0.2 BCE Inc., 3.500%, 9/30/50 0.2 Province of British Columbia, 2.850%, 6/18/25 0.5 Targa Resources Corp., 4.000%, 1/15/32 0.3 Canada Housing Trust, 1.750%, 6/15/30 1.1 Province of British Columbia, 3.200%, 6/18/44 0.1 TC Energy, 4.340%, 10/15/49 0.5 Canada Housing Trust, 2.350%, 06/15/23 0.7 Province of British Columbia, 3.300%, 12/18/23 0.7 Telus Corp., 2.050%, 10/07/30 0.4 Canada Housing Trust, 2.900%, 6/15/24 0.7 Province of Nova Scotia, 4.700%, 6/1/41 0.3 Telus Corp., 2.750%, 07/08/26 0.5 Canadian Natural Resources, 2.500%, 1/17/28 0.4 Province of Ontario, 1.350%, 12/2/30 0.7 Telus Corp., 3.950%, 2/16/50 0.0 Capital Power Corp., 4.284%, 9/18/24 0.6 Province of Ontario, 1.750%, 9/8/25 1.8 Tenet Healthcare, 4.625%, 06/15/28 0.0 Capital Power Corp., 4.424%, 02/08/30 0.3 Province of Ontario, 2.050%, 06/02/30 0.4 Thomson Reuters, 2.239%, 05/14/25 0.3 Cheniere Energy, 4.000%, 3/1/31 0.5 Province of Ontario, 2.400%, 6/02/26 0.8 T-Mobile USA, 3.375%, 4/15/29 0.4 Choice Properties., 3.556%, 9/9/24 0.4 Province of Ontario, 2.650%, 12/02/50 0.6 Topbuild Corp., 3.625%, 3/15/29 0.1 Davita Inc., 3.750%, 2/15/31 0.4 Province of Ontario, 2.700%, 06/02/29 0.4 Toronto Hydro Corp., 2.990%, 12/10/49 0.2 Enbridge Inc., Var Rt., 9/27/77 0.4 Province of Ontario, 2.800%, 6/02/48 0.4 Tourmaline Oil, 2.077%, 1/25/28 0.2 Energizer Holdings, 4.375%, 3/31/29 0.4 Province of Ontario, 2.850%, 6/2/23 0.7 Toyota Credit Canada, 2.620%, 10/11/22 0.2 Enmax Corp., 3.876%, 10/18/29 0.4 Province of Ontario, 2.900%, 06/02/28 0.3  Transurban Finance Co., 4.555%, 11/14/28 0.3 Ford Credit Canada, 3.349%, 9/19/22 0.2 Province of Ontario, 2.900%, 06/02/49 0.8 Vancouver Airport, 1.760%, 9/20/30 0.4 Ford Credit Canada, 3.500%, 11/30/23 0.3 Province of Ontario, 3.150%, 06/02/22 2.4 Verizon Communications Inc., 2.375%, 3/22/28 0.4 Gartner Inc., 3.750%, 10/01/30 0.1 Province of Ontario, 3.500%, 6/2/24 0.8 Videotron Ltd., 3.125%, 1/15/31 0.5 Gartner Inc., 4.500%, 07/01/28 0.1 Province of Quebec, 1.900%, 09/01/30 0.2 VW Credit Canada, 3.250%, 03/29/23 0.2 GE Capital Canada, 5.730%, 10/22/37 0.1 Province of Quebec, 2.500%, 09/01/26 1.2 Walt Disney Companies, 3.057%, 3/30/27 0.4 GFL Environmental, 3.750%, 08/01/25 0.1  Province of Quebec, 2.750%, 9/01/25 0.5 Gibson Energy Inc., 3.600%, 09/17/29 0.5 Province of Quebec, 2.750%, 9/01/27 0.8 Goldman Sachs, Var. Rt., 2/28/29 0.2  Province of Quebec, 3.000%, 9/1/23 0.7 Government of Canada, 2.000%,12/1/51 4.0 Province of Quebec, 3.100%, 12/1/51 0.2 Government of Canada, 2.750%, 12/01/48 0.1 Province of Quebec, 3.500%, 12/01/22 2.4 Government of Canada, 2.750%, 12/01/64 0.3 Province of Quebec, 3.500%, 12/01/45 0.0 /

HOLDING % HOLDING %

Weightings: Growth 43.6 Weightings: Interest Sensitive 48.4 Abbott Laboratories 4.0 AES Corp. 2.8 BCE Inc. 2.0 Algonquin Power & Utilities Corp. 1.5 Cargojet Inc. 1.9  Bank of Montreal 1.5 Coca-Cola Company 1.2  Bank of Nova Scotia 5.2  Costco Wholesale Corp. 2.5  Boralex Inc. 1.7 Fidelity National Information Services 1.4 Brookfield Asset Management Inc., Cl. A 5.2 Jamieson Wellness Inc. 2.3  Brookfield Infrastructure Partners L.P. 1.8 Microsoft Corp. 4.6  Canadian Imperial Bank of Commerce 2.6 Open Text Corp. 1.5  Choice Properties REIT 1.6 Oracle Corporation 2.0  Decisive Dividend Corp. 0.1 Park Lawn Corp. 1.8  Granite REIT 1.5 Stantec Inc. 2.3  Northland Power Inc. 2.1 Stryker Corp. 2.3  Power Financial Corp. 2.4 TELUS Corp. 2.0  Royal Bank of Canada 7.7 TFI International Inc. 4.2  Summit Industrial Income REIT 1.4 UnitedHealth Group Inc. 1.5  Sun Life Financial Inc. 1.5 Visa 3.7  Toronto-Dominion Bank 6.2 Waste Connections Inc. 2.4  Transalta Corp. 1.6

Weightings: Inflation 3.0 Cash & Other Assets (Liabilities) 5.0 Ecolab 1.9 Pembina Pipeline Corporation 1.1 Net Asset Value 100.0

Stone Dividend Growth Class Series A Best Fund Over Past 3 Years Canadian Dividend & Income Equity

/

HOLDING % HOLDING %

Weightings: Growth 82.0 Weightings: Growth (Con’t) Accenture Limited 2.2 MKS Instruments Inc. 2.4 Aecon Group Inc. 2.4 Motorola Solutions Inc. 1.9 Alphabet Inc., Cl. C 2.6 Palo Alto Networks Inc. 2.6 Amazon.com Inc. 2.6 PerkinElmer Inc. 1.6 Amgen 2.1 Sensata Technologies Inc. 2.1 Applied Materials Inc. 2.5 SS&C Technologies 2.1 ATS Automation Tooling Systems Inc. 2.2 Steris plc 2.0 BioMarin Pharmaceutical Inc. 1.4 Stone Global Growth Fund, Sr. A 3.6 Boston Scientific Corp. 1.3 TJX Companies Inc. 1.9 Broadcom Ltd. 2.4 UnitedHealth Group Inc. 2.5 Cigna Corp. 2.8 Visa 2.1 Corning Inc. 2.0 Costco Wholesale Corp. 1.6 Weightings: Inflation 4.1 Drone Delivery Canada Corp. 1.1 Ballard Power Systems Inc. 1.2 Electronic Arts Inc. 1.9 Orocobre Ltd. 1.1 Fortinet Inc. 2.9 PPG Industries Inc. 1.8 Global Payments Inc. 1.8 HCA Holdings Inc. 2.7 Weightings: Interest Sensitive 11.2 Hologic Inc. 1.5 AES Corp. 2.0 Hubbell Inc. 2.3 Blackrock Inc. 2.6 Intuitive Surgical Inc. 2.0 Boralex Inc. 1.6 Jamieson Wellness Inc. 1.8 KKR & Co. 2.6 Kinaxis Inc. 2.1 Onex Corp. 1.9 Laboratory Corp of America Holdings 2.1 Panton Equity Partners L.P., Cl. A 0.5 Mastercard Inc. 2.2 Medtronic PLC 2.1 Cash & Other Assets (Liabilities) 2.7 Microsoft Corp. 2.6 Net Asset Value 100.0 Stone Growth Fund Series A Best Fund Over Past 3 Years North American Equity

/ HOLDING % HOLDING % HOLDING %

Weightings: Growth 86.5 Weightings: Growth (Con’t) Weightings: Inflation 4.2 Adobe Systems Inc. 2.2  Lamb Weston Holdings Inc. 1.3 Linde plc 1.4 Align Technology Inc. 1.8  Lonza Group AG, Reg. 1.5 Sherwin Williams Co. 1.4 Alphabet Inc., Cl. C 2.0  L'Oreal 1.7 Sika Ltd. 1.4 Amazon.com Inc. 2.6  Martin Marietta Materials Inc. 1.7 Amphenol Corporation, Cl. A 1.6  Mastercard Inc. 1.8 Weightings: Interest Sensitive 7.9 ASML Holding 1.9  Match Group Inc. 2.1 First Republic Bank 1.6 Autodesk 1.7  Microsoft Corp. 1.9 Jack Henry & Associates Inc. 1.2  Broadridge Financial Solutions Inc. 1.2  Netflix Inc. 1.4 Partners Group Holdings AG 1.6 Cellnex Telecom SA 1.4  Next plc 1.9 S&P Global Inc. 1.6 Chegg Inc. 1.2  Nike Inc., Cl. B 1.4  SVB Financial Group 1.9 Cintas Corp. 1.3  Nvidia Corp. 2.2 Costar Group Inc. 1.5  Ocado Group plc 1.5 Cash & Other Assets (Liabilities) 1.4 Costco Wholesale Corp. 1.5  Paypal Holdings Inc. 2.2 Delivery Hero AG 1.4  Rational AG 1.3 Net Asset Value 100.0 Essilor International SAS 1.5  Rightmove plc 1.4 Estee Lauder Companies Inc., Cl. A 2.0  Ringcentral Inc. 1.5 Freshpet Inc. 2.0  Rollins Inc. 1.5 Global Payments Inc. 1.8  Sandvik AB 1.7 Hermes International 1.6  Sartorius Stedim Biotech 2.3 Howden Joinery Group PLC 1.3  Shopify Inc. 1.2 Hypoport AG 1.4  SKF AB 1.6 Idexx Labs 1.7  Tencent Holdings Ltd. 1.7 Infineon Technologies AG 1.8  TJX Companies Inc. 1.7 Intuit Inc. 1.9  Uber Technologies Inc. 1.3 JB Hunt Transport Services Inc. 1.7  Visa 1.7 Kering SA 1.6  Waste Connections Inc. 1.4  

/

HOLDING % HOLDING %

Weightings: Growth 76.3 Weightings: Growth (Con’t) Abbott Laboratories 1.9  Shopify Inc. 1.9 Adobe Systems Inc. 2.6  SIG Combibloc Group AG 2.4  Adyen NV 2.2  Taiwan Semiconductor Manufacturing Co. Ltd. 2.2  Alfen Beheer BV 1.9  Thermo Fisher Scientific Inc. 2.2  Ansys Inc. 2.2  Tomra Systems ASA 2.3  Aptiv plc 2.4  Trimble Inc. 2.6  ASML Holding 3.0  Vestas Wind Systems A/S 2.3  Assa Abloy AB 2.7  Visa 2.5  Badger Meter Inc. 1.9  Cadence Design Systems Inc. 2.2  Weightings: Inflation 9.4 Clorox Co. 1.3  Ballard Power Systems Inc. 1.5 DSV Palalpina A/S 2.8  Chr Hansen Holding A/S 1.4 Edwards Lifesciences 2.4  Ecolab 2.5 Eurofins Scientific 1.9  EDP Renovaveis SA 2.0 GN Store Nord A/S 2.1  Trex Co. Inc. 2.0  Halma plc 1.9  Jungheinrich PFD 2.7  Weightings: Interest Sensitive 11.8 KONE OYJ, Cl. B 1.5  AIA Group 2.6  Linde plc 2.7  First Republic Bank 2.4  Littelfuse Inc. 2.4  Hannon Armstrong 2.3  Mastercard Inc. 2.5  Legal & General Group PLC 2.5  Microsoft Corp. 2.4  Orsted A/S 2.0  Nidec Corp. 2.5  Paypal Holdings Inc. 2.2  Cash & Other Assets (Liabilities) 2.5 Reed Elsevier plc 1.5  Sartorius Stedim Biotech 2.1  Net Asset Value 100.0  / HOLDING %

Weightings: Growth 98.2 Stone Global Sustainability Fund F 98.2 

Cash & Other Assets (Liabilities) 1.8

Net Asset Value 100.0

/ HOLDING % HOLDING %

Weightings: Growth 72.5 Weightings: Inflation 5.3 3M Co. 2.8 Ecolab 2.7 ABB Ltd. 2.8  Ingredion Inc. 2.6  Abbott Laboratories Inc. 2.9  Abbvie Inc. 3.1  Weightings: Interest Sensitive 21.2 Accenture Limited 2.7 AES Corp. 3.0  Activision Blizzard Inc. 1.4 Allstate Corp. 2.9  Apple Inc. 2.9  Blackrock Inc. 3.2  Applied Materials Inc. 3.3  Brookfield Infrastructure Partners 3.1  Broadcom Inc. 2.4 Citizens Financial Group Inc. 3.0  Cisco Systems Inc. 2.1  Fifth Third Bancorp. 3.1  Coca-Cola Company 1.4  State Street Corp. 2.9  Costco Wholesale Corp. 2.3  CVS Health Corp. 2.1  Cash & Other Assets (Liabilities) 1.0 Fidelity National Information Services 2.5  Home Depot Inc. 3.5  Net Asset Value 100.0 Honeywell International Inc. 2.6  KLA Tencor Corp. 3.1  Merck & Co. Inc. 2.5  Microsoft Corp. 3.0  Oracle Corp. 2.7  Qualcomm Inc. 2.9  Raytheon Company 3.0  Stryker Corp. 2.7  Inc. 2.6  Verizon Communications Inc. 1.6  Visa Corp. 2.9  Walmart Inc. 2.5  Walt Disney Co. 2.2 

/ HOLDING % HOLDING %

Weightings: Growth 19.4  Weightings: Interest Sensitive (Con’t) Aecon Group Inc. 2.5  Granite REIT 1.4  BCE Inc. 3.8  Hydro One Inc. 2.1 George Weston Inc. 0.7  Laurentian Bank of Canada, Pfd. 1.2 Loblaw Companies Ltd., Pfd. 0.6  Manulife Financial Corp. 3.3  Rogers Communications Inc. 3.3  Manulife Financial Corp., Pfd. 1.2 Shaw Communications Inc. 4.9  3.4  Telus Corp. 3.6  Northland Power Inc. 3.6   Power Financial Corp. 4.0  Weightings: Interest Sensitive 72.9  Royal Bank of Canada 3.5  AES Corp. 4.0  Summit Industrial Income REIT 1.5  Algonquin Power & Utilities Corp. 2.5  Sun Life Financial Inc. 3.0  Bank of Montreal 4.3  TC Energy Corp. 2.9  Bank of Nova Scotia 3.9  Toronto-Dominion Bank 3.8  Brookfield Infrastructure Partners 4.5  Toronto-Dominion Bank, Pfd. 1.2 Canadian Imperial Bank of Commerce 3.7   Canadian Imperial Bank of Commerce, Pfd. 1.2  Weightings: Inflation 6.5 Canadian Utilities, Pfd. 0.7  Enbridge Inc. 3.6 Choice Properties REIT 1.5  Pembina Pipeline Corp. 2.9 CI Financial Inc. 1.9  Emera Inc. 3.7  Cash & Other Assets (Liabilities) 1.2 Emera Inc., Pfd. 0.7  Fortis Inc. 3.5  Net Asset Value 100.0 Fortis Inc., Pfd. 0.7 

/ HOLDING % HOLDING %

Weightings: Interest Sensitive 99.3 Cash & Other Assets (Liabilities) 0.7 Bank of Montreal 8.7  Bank of Nova Scotia 8.3  Net Asset Value 100.0 Brookfield Asset Management Inc. 3.3  Brookfield Asset Management Inc., Cl. A, Pfd. 0.8  Canadian Imperial Bank of Commerce 7.9  Canadian Western Bank 2.6  PORTFOLIO HOLDINGS Great West Lifeco Inc. 5.1  Great West Lifeco, Pfd. 0.7  0.7 IA Financial Corp. Inc. 3.5  IGM Financial Inc. 3.3  Intact Financial Corp. 3.1  17.2 54.4 Intact Financial Corporation, Pfd. 0.6  Laurentian Bank of Canada 3.1  Manulife Financial Corp. 5.6  9.4 Manulife Financial Corp., Pfd. 0.7  National Bank of Canada 7.8  18.3 Onex Corp. 2.0  Power Financial Corp. 5.6  Power Corp. of Canada, Pfd. 0.7  Banks Insurance Asset Managers Financial Services Royal Bank of Canada 7.9  Cash & Other Sagen MI Canada Inc. 2.5  Sun Life Financial Inc. 4.5  Sun Life Financial Inc., Pfd. 0.7  TMX Group Ltd. 2.2  Toronto Dominion Bank 8.1 

/

CONTACT

For additional information or to learn how you may purchase our Funds, please contact your financial advisor or Stone at:

CLIENT SERVICES SALES ADDRESS T 416 867 8086 or 800 795 1142 T 877 812 0792 276 King Street West, Suite 203 F 416 364 2498 F 416 364 8456 Toronto, Ontario M5V 1J2 E [email protected] E [email protected] www.stoneco.com

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