Dalhousie University Endowment Investments Publicly Traded Securities - Directly & Indirectly Held March 31, 2017

SECURITY NAME Valuation TOTAL $ MV

EQUITY HOLDINGS:

CANADIAN HOLDINGS

Advantage Oil & Gas Ltd 1,455,514 0.25% Agnico-Eagle Mines Limited (153,583) -0.03% Agrium Inc 627,296 0.11% Aimia Inc 752,904 0.13% Alamos Gold Inc 285,586 0.05% Alimentation Couche-Tard 1,466,644 0.25% Allied Properties REIT 247,193 0.04% Algonquin Power Co 965,853 0.17% Asanko Gold Inc 367,463 0.06% Automotive Prop REIT 546,592 0.09% Bank of Montreal (707,705) -0.12% Bank Of Nova Scotia 3,512,014 0.60% Barrick Gold Corporation 125,557 0.02% Bell Canada (667,181) -0.11% Blackpearl Resources Inc 355,114 0.06% Boardwalk REIT 131,899 0.02% Bombardier Inc 258,110 0.04% Brookfield Asset Management Inc 2,341,757 0.40% Brookfield Business Partner 22,924 0.00% Brookfield Infrastructure Partners 1,016,749 0.17% CAE Inc (295,709) -0.05% Canadian National Railway Co 1,081,957 0.19% Canadian Natural Res Ltd 60,089 0.01% Canadian Pacific Railway 896,601 0.15% Cenovus Energy Inc 1,342,716 0.23% CGI Group Inc 1,141,042 0.20% CI Financial Corp 424,558 0.07% Cineplex Inc 1,180,540 0.20% Cogeco Inc 599,836 0.10% Colliers Intl Group Inc 1,099,592 0.19% Cominar REIT 329,760 0.06% Computer Modelling Group Ltd 816,118 0.14% Constellation Software Inc (867,209) -0.15% DH Corporation 1,271,151 0.22% Eldorado Gold Corp (617,921) -0.11% Enbridge Inc 1,217,471 0.21% Encana Corporation 35,713 0.01% Enercare Inc 1,109,326 0.19% Fairfax Fin Hldg Ltd 1,106,367 0.19% Finning International Inc 2,130,545 0.37% Fortis Inc 526,418 0.09% Franco-Nevada Corporation 722,804 0.12% GDI Integrated Facility 156,240 0.03% Gear Energy Ltd 764,541 0.13% Genworth (317,661) -0.05% Gildan Activewear 1,000,324 0.17% Great Canadian Gaming Corp 2,572,194 0.44% Guyana Goldfields Inc 701,426 0.12% H&R REIT 251,081 0.04% Hydro One Ltd 1,575,890 0.27% Imperial Oil Ltd 102,916 0.02% Industrial Alliance Inc 644,242 0.11% Inter Pipeline Ltd (528,305) -0.09% Kinross Gold Corp (560,403) -0.10% Klondex Mines Ltd (262,389) -0.05% Magna Intl Inc 640,695 0.11% Manulife Financial 528,884 0.09% Metro Inc 808,830 0.14% Mullen Group Ltd 1,198,976 0.21% National Bank of Canada 666,200 0.11% New Flyer Industries Inc 1,343,631 0.23% New Gold Inc 585,442 0.10% Parkland Fuel Corporation 921,636 0.16% Pason Systems Inc 1,266,473 0.22% Pembina Pipeline Corporation 252,024 0.04% Peyto Exploration & Development Corp 1,127,454 0.19% Potash Corp Of Saskatchewan 2,185,566 0.37% Power Corp Of Canada 2,637,297 0.45% PrairieSky Royalty Ltd 2,971,880 0.51% Premium Brands Holding Corp 735,892 0.13% Quebecor Inc 853,167 0.15% Royal Bank Of Canada 3,559,986 0.61% Secure Energy Services Inc 1,222,305 0.21% Seven Generations 726,743 0.12% Shopify Inc 671,976 0.12% Sleep Country Canada 1,588,090 0.27% Smart REIT 684,998 0.12% Spartan Energy Corp 838,338 0.14% Suncor Energy Inc 1,009,509 0.17% Sun Life Financial Inc 1,406,716 0.24% Tamarack Valley Energy Ltd 794,970 0.14% Telus Corporation 774,695 0.13% Temple Hotels Inc 150,797 0.03% Thomson Reuters Corp 1,052,008 0.18% Tidewater Midstream 648,458 0.11% Toromont Industries Ltd 1,193,348 0.20% Toronto-Dominion Bank 3,233,904 0.55% Total Energy Services Inc 1,069,320 0.18% Tourmaline Oil Corp 978,278 0.17% March 31, 2017

SECURITY NAME Valuation TOTAL $ MV TransCanada Corporation 1,192,676 0.20% Trevali Mining Corp 590,138 0.10% TWC Enterprises Ltd 328,854 0.06% Wajax Corp 820,178 0.14% WestJet Airlines Ltd (395,453) -0.07% Westshore Terminals Invst Corp 1,304,190 0.22% WSP Global Inc 621,477 0.11%

UNITED STATES HOLDINGS

3D Systems Corp 32,501 0.01% 3M Company 408,265 0.07% Aaron's Inc 38,110 0.01% Abbvie Inc 782,100 0.13% ABIOMED Inc 100,182 0.02% Acco Brands Corp 214,659 0.04% Aci Worldwide Inc 50,123 0.01% Acxiom Corp 44,464 0.01% AECOM 109,041 0.02% Aetna Inc 790,992 0.14% Agco Corp 473,273 0.08% Air Products & Chemicals Inc 135,321 0.02% Akorn Inc 41,569 0.01% Albany Intl Corp 243,202 0.04% Albemarle Corp 140,886 0.02% Alexander & Baldwin Inc 41,155 0.01% Alexandria Real Estate Equities Inc REIT 265,311 0.05% Align Technology Inc 172,508 0.03% Alleghany Corp 452,300 0.08% Allegheny Technologies Inc 39,222 0.01% Allscripts Healthcare Solutions Inc 258,292 0.04% AMC Networks Inc 68,263 0.01% Amerco 559,207 0.10% Ameren Corporation 381,066 0.07% American Campus Communities Inc 302,799 0.05% American Eagle Outfitters Inc 47,999 0.01% American Electric Power Inc 214,865 0.04% American Financial Group Inc 138,186 0.02% American Homes 4 Rent 125,146 0.02% American International Group Inc 537,021 0.09% Ameriprise Financial Inc 510,192 0.09% Amerisourcebergen Corporation 755,374 0.13% Amgen Inc 700,193 0.12% Ansys Inc 183,560 0.03% Anthem Inc 705,784 0.12% AO Smith Corp 150,274 0.03% Aptargroup Inc 95,181 0.02% Aqua America Inc 112,389 0.02% Archer-Daniels Midland Co 128,942 0.02% Ares Capital Corporation 119,139 0.02% Argan Inc 802,805 0.14% Arrow Electronics Inc 130,878 0.02% Ashland Inc 153,004 0.03% Aspen Insurance Holdings Ltd 61,616 0.01% Associated Banc-Corp 73,736 0.01% Atmos Energy Corp 165,648 0.03% Autoliv Inc 395,496 0.07% AvalonBay Communities Inc REIT 421,156 0.07% Avis Budget Group Inc 51,150 0.01% Avnet Inc 116,231 0.02% Avon Products Inc 38,742 0.01% B/E Aerospace Inc 129,457 0.02% Babcock & Wilcox Enterprises Inc 61,410 0.01% Ball Corp 138,651 0.02% Banc of California Inc 103,525 0.02% Bancorpsouth Inc 51,461 0.01% Bank of America Corp 506,515 0.09% Bank Of Hawaii Corp 70,091 0.01% Bank of the Ozarks Inc 93,949 0.02% Belden Inc 374,773 0.06% Bemis Company Inc 90,154 0.02% Best Buy Inc 1,035,665 0.18% Big Lots Inc 42,835 0.01% Biogen Idec Inc 692,823 0.12% Bio-Rad Laboratories Inc 82,552 0.01% Bio-Techne Corp 75,286 0.01% Bioverativ Inc 117,807 0.02% Black Hills Corp 70,496 0.01% Boston Beer Company Inc 26,984 0.00% Boston Properties Inc REIT 176,589 0.03% Brinker International Inc 43,031 0.01% Broadridge Financial Solutions Inc 159,476 0.03% Brocade Communications Systems 100,878 0.02% Brown & Brown Inc 94,447 0.02% Brunswick Corp 108,263 0.02% Buffalo Wild Wings Inc 54,950 0.01% Cabela's Incorporated 54,512 0.01% Cable One Inc 60,640 0.01% Cabot Corp 73,606 0.01% Cadence Design Systems Inc 173,028 0.03% CalAtlantic Group Inc 53,882 0.01% Camden Property Trust 140,506 0.02% Capital One Financial Corp 496,965 0.09% Care Capital Properties Inc 45,368 0.01% Carlisle Companies Inc 136,387 0.02% Carpenter Technology Corp 35,001 0.01% Carter's Inc 87,463 0.02% March 31, 2017

SECURITY NAME Valuation TOTAL $ MV Casey's General Stores Inc 86,730 0.01% Catalent Inc 69,660 0.01% Cathay General Bancorp 56,292 0.01% Cato Corp 96,061 0.02% Cavco Industries Inc 543,325 0.09% CDK Global Inc 187,914 0.03% CEB Inc 50,566 0.01% Celanese Corp 132,170 0.02% Centerpoint Energy Inc 205,903 0.04% CF Industries Holdings Inc 140,912 0.02% Charles River Laboratories 282,436 0.05% Cheesecake Factory Incorporated 56,220 0.01% Chegg Inc 1,248,282 0.21% Chemical Finance Corporation 72,146 0.01% Chemours Company 139,153 0.02% Chevron Corporation 229,109 0.04% Chico'S Fas Inc 36,915 0.01% Churchill Downs Inc 38,779 0.01% Ciena Corp 66,497 0.01% Cinemark Holdings Inc 92,467 0.02% CIRCOR International 152,995 0.03% Cirrus Logic Inc 77,371 0.01% Citigroup Inc 542,493 0.09% Clean Harbors Inc 193,764 0.03% CNO Financial Group Inc 70,917 0.01% Cognex Corp 142,792 0.02% Coherent Inc 100,402 0.02% Colony Starwood Homes 95,083 0.02% Commerce Bancshares Inc 97,439 0.02% Commercial Metals Company 44,358 0.01% Commvault Systems Inc 42,185 0.01% Compass Minerals International Inc 45,904 0.01% Computer Sciences Corp 194,469 0.03% Conocophillips 246,082 0.04% CONSOL Energy Inc 59,249 0.01% Convergys Corp 39,708 0.01% Cooper Tire & Rubber 46,615 0.01% Copart Inc 1,116,587 0.19% CoreCivic Inc REIT 73,614 0.01% Corelogic Inc 69,248 0.01% Corning Inc 972,224 0.17% Corporate Office Properties 212,607 0.04% Costar Group Inc 469,807 0.08% Cousins Properties Inc REIT 68,866 0.01% Cracker Barrel Old Country Store Inc 75,679 0.01% Crane Co 74,258 0.01% Cree Inc 52,406 0.01% Crown Castle International Corp 171,058 0.03% Crown Holdings Inc 134,171 0.02% CST Brands Inc 114,845 0.02% CSX Corp 253,305 0.04% CTS Corporation 124,990 0.02% Cubesmart 106,288 0.02% Cubic Corp 246,459 0.04% Cullen/Frost Bankers Inc 100,000 0.02% Cummins Inc 413,375 0.07% Curtiss-Wright Corp 81,014 0.01% Cypress Semiconductor Corp 89,595 0.02% CyrusOne Inc REIT 76,088 0.01% Dana Inc 55,556 0.01% Danaher Corp 764,244 0.13% DCT Industrial Trust Inc REIT 299,229 0.05% DDR Corp 205,541 0.04% Dean Foods Company 35,906 0.01% Deckers Outdoor Corp 38,475 0.01% Delta Air Lines Inc 355,506 0.06% Deltic Timber Corp 189,616 0.03% Deluxe Corp 69,186 0.01% DeVry Education Group Inc 40,660 0.01% Diamond Offshore Drilling Inc 22,096 0.00% Diamondback Energy Inc 226,844 0.04% Diamondrock Hospitality Co REIT 184,688 0.03% Dick's Sporting Goods Inc 85,139 0.01% Diebold Inc 206,608 0.04% Digital Realty Trust Inc 377,561 0.06% Dillards Inc 26,569 0.00% Discover Financial Services Inc 524,444 0.09% Domino's Pizza Inc 175,618 0.03% Domtar Corp 45,134 0.01% Donaldson Company Inc 119,650 0.02% Dorian LPG Ltd 83,979 0.01% Douglas Emmett Inc 110,762 0.02% Dover Corp 375,053 0.06% Dr Pepper Snapple Group Inc 796,599 0.14% Dril-Quip Inc 41,445 0.01% Dst Systems Inc 77,271 0.01% DSW Inc 73,362 0.01% Duke Realty Corp 184,985 0.03% Dunkin' Brands Group Inc 99,606 0.02% Dycom Industries Inc 58,619 0.01% Eagle Materials Inc 93,038 0.02% East West Bancorp Inc 148,274 0.03% Eastman Chemicals Company 134,698 0.02% Eaton Vance Corp 102,202 0.02% EBIX Inc 1,658,215 0.28% Edgewell Personal Care Co 84,321 0.01% Edison International 207,034 0.04% Education Realty Trust Inc 117,676 0.02% March 31, 2017

SECURITY NAME Valuation TOTAL $ MV Electronic Arts Inc 895,406 0.15% Emcor Group Inc 75,130 0.01% Emerson Electric Company 399,158 0.07% Endurance Specialty Holdings Ltd 59,557 0.01% Energen Corp 104,223 0.02% Energizer Holdings Inc 68,669 0.01% EnerSys 68,519 0.01% Entergy Corporation 227,932 0.04% Envestnet Inc 562,149 0.10% Envision Healthcare 187,275 0.03% EPR Properties 93,478 0.02% Equinix Inc 213,581 0.04% Equity Residential REIT 187,534 0.03% ERA Group Inc 65,432 0.01% ESCO Technologies 203,786 0.03% Essendant Inc 130,321 0.02% Esterline Technologies Corp 51,005 0.01% Everest Re Group Ltd 189,468 0.03% Eversource Energy 211,657 0.04% Exelon Corporation 211,131 0.04% Express Scripts Holding Company 716,387 0.12% Exxon Mobil Corporation 240,618 0.04% F5 Networks Inc 1,007,726 0.17% Factset Research Systems Inc 130,470 0.02% Fair Isaac Corp 79,293 0.01% FCB Financial Holdings Inc 89,872 0.02% Federated Investors Inc 48,280 0.01% Financial Engines Inc 847,968 0.15% First American Financial Corp 85,924 0.01% First Horizon National Corp 85,791 0.01% First Industrial Realty Trust Inc 62,301 0.01% First Midwest Bancorp Inc 222,013 0.04% First Solar Inc 42,267 0.01% First Source Corp 93,922 0.02% FirstEnergy Corporation 212,182 0.04% Fiserv Inc 953,449 0.16% Flowers Foods Inc 70,980 0.01% FNB Corp 93,935 0.02% Foot Locker Inc 907,903 0.16% Forest City Realty Trust 69,713 0.01% Forrester Research Inc 165,399 0.03% Fortinet Inc 113,276 0.02% Forward Air Corp 135,131 0.02% Franklin Resources Inc 545,136 0.09% Fred's Inc 141,863 0.02% Frontier Communications Corp 50,080 0.01% FTI Consulting Inc 279,358 0.05% Fulton Financial Corp 61,852 0.01% GameStop Corp 46,028 0.01% Gaming and Leisure Properties Inc 276,338 0.05% Gartner Inc 178,014 0.03% Gatx Corp 244,502 0.04% General Dynamics Corp 923,732 0.16% General Motors Company 862,982 0.15% Genesee & Wyoming Inc 82,034 0.01% Gentex Corp 121,528 0.02% Genworth Financial Inc 41,231 0.01% GEO Group Inc REIT 75,466 0.01% GGP Inc 515,182 0.09% Global Payments Inc 1,000,662 0.17% Globus Medical Inc 42,783 0.01% Goldman Sachs Group Inc 459,546 0.08% Graco Inc 104,579 0.02% Graham Holdings Co 54,114 0.01% Granite Construction Inc 39,865 0.01% Great Plains Energy Inc 125,103 0.02% Great Western Bancorp Inc 233,593 0.04% Greif Inc 280,039 0.05% Gulfport Energy Corp 54,577 0.01% Haemonetics Corp 227,787 0.04% Hain Celestial Group Inc 76,440 0.01% Halyard Health Inc 35,844 0.01% Hancock Holding Co 376,385 0.06% Hanover Insurance Group Inc 75,576 0.01% Hartford Financial Services Group 541,713 0.09% Hasbro Inc 891,930 0.15% Hawaiian Electric Industries Inc 72,158 0.01% HCP Inc 254,471 0.04% Healthcare Realty Trust REIT 253,082 0.04% Healthcare Trust of America Inc REIT 165,729 0.03% HealthSouth Corporation 75,769 0.01% Herman Miller Inc 37,920 0.01% Hess Corp 212,173 0.04% Highwoods Properties Inc REIT 99,028 0.02% Hill-Rom Holdings Inc 84,389 0.01% HNI Corp 40,396 0.01% Hollyfrontier Corp 99,708 0.02% Hologic Inc 788,775 0.14% Home Depot Inc 910,555 0.16% Hospitality Properties Trust 102,092 0.02% Host Hotels & Resorts Inc REIT 319,361 0.05% HSN Inc 24,159 0.00% Hubbell Inc 123,561 0.02% Hudson Pacific Properties 143,028 0.02% Huntington Ingalls Industries Inc 183,542 0.03% Huron Consulting Group Inc 150,473 0.03% ICF International Inc 33,048 0.01% ICU Medical Inc 164,955 0.03% March 31, 2017

SECURITY NAME Valuation TOTAL $ MV Idacorp Inc 83,282 0.01% Idex Corp 141,488 0.02% Incyte Corporation 882,425 0.15% Ingredion Inc 309,568 0.05% Integrated Device Technology Inc 62,533 0.01% Interdigital Inc 58,820 0.01% International Bancshares Corp 285,215 0.05% International Paper Company 125,286 0.02% International Speedway Corp 18,870 0.00% Invitation Homes Inc 98,986 0.02% IPG Photonics Corp 89,747 0.02% ITT Corp 71,861 0.01% j2 Global Inc 80,145 0.01% Jabil Circuit Inc 106,808 0.02% Jack Henry & Associates Inc 143,425 0.02% Jack in the Box Inc 65,840 0.01% Jacobs Engineering Group Inc 390,735 0.07% Janus Capital Group Inc 38,163 0.01% JC Penney Company Inc 38,191 0.01% Jetblue Airways Corp 137,451 0.02% John Wiley & Sons Inc 48,299 0.01% Johnson & Johnson 772,388 0.13% Jones Lang Lasalle Inc 99,768 0.02% Joy Global Inc 56,104 0.01% JPMorgan Chase & Co 527,161 0.09% Kaiser Ventures LLC 9,269 0.00% Kate Spade & Co 59,416 0.01% KB Home 33,414 0.01% KBR Inc 43,073 0.01% Kemper Corp 189,081 0.03% Kennametal Inc 62,628 0.01% Keysight Technologies Inc 339,236 0.06% Kilroy Realty Corp 341,616 0.06% Kimco Realty Corp REIT 243,048 0.04% Kirby Corp 76,077 0.01% KLX Inc 46,471 0.01% Knowles Corp 33,832 0.01% L3 Technologies Inc 969,924 0.17% Lam Research Corp 1,027,116 0.18% Lamar Advertising Company 122,804 0.02% Lamb Weston Holdings Inc 115,512 0.02% Lancaster Colony Corp 49,844 0.01% Landstar System Inc 70,568 0.01% Lasalle Hotel Properties REIT 65,269 0.01% Lear Corp 377,634 0.06% Legg Mason Inc 63,962 0.01% Leidos Holdings Inc 145,055 0.02% Lennox International Inc 128,401 0.02% Liberty Property Trust REIT 112,672 0.02% Life Storage Inc REIT 75,751 0.01% Lifepoint Health Inc 51,816 0.01% Ligand Pharmaceuticals Inc 875,145 0.15% Lincoln Electric Holdings Inc 106,429 0.02% Lincoln National Corp 475,713 0.08% Littelfuse Inc 967,271 0.17% Live Nation Entertainment Inc 79,945 0.01% Lockheed Martin Corp 999,270 0.17% Logmein Inc 1,571,157 0.27% Louisiana-Pacific Corp 71,334 0.01% Mack-Cali Realty Corp 48,346 0.01% Manhattan Associates Inc 475,555 0.08% ManpowerGroup Inc 1,067,211 0.18% Marketaxess Holdings Inc 940,262 0.16% Masimo Corporation 82,846 0.01% Matthews International Corp 226,456 0.04% Maximus Inc 80,081 0.01% MB Financial Inc 279,407 0.05% MDU Resources Group Inc 105,313 0.02% Medical Properties Trust Inc REIT 82,252 0.01% Medicines Company 893,445 0.15% Medidata Solutions Inc 1,107,903 0.19% Mednax Inc 128,911 0.02% Merck & Co Inc 728,760 0.13% Mercury General Corp 43,985 0.01% Meredith Corp 47,377 0.01% Meta Financial Group Inc 1,369,115 0.23% Metlife Inc 538,888 0.09% Michaels Companies Inc 47,067 0.01% Microsemi Corp 117,406 0.02% Microsoft Corp 1,018,869 0.17% Mid-America Apartment Comm REIT 244,234 0.04% Minerals Technologies Inc 53,497 0.01% Mistras Group Inc 141,427 0.02% Mohawk Industries Inc 918,171 0.16% Molina Healthcare Inc 38,946 0.01% Monolithic Power Systems Inc 69,325 0.01% Mosaic Co 128,422 0.02% Motorola Solutions Inc 1,080,873 0.19% MSA Safety Inc 44,614 0.01% MSC Industrial Direct Co Inc 91,285 0.02% MSCI Inc 694,154 0.12% Mueller Industries Inc 246,515 0.04% Multi Packaging Solution Ltd 144,113 0.02% Murphy Oil Corp 247,837 0.04% Murphy USA Inc 52,237 0.01% National Fuel Gas Company 100,912 0.02% National Instruments Corp 68,804 0.01% National Retail Properties Inc 127,745 0.02% March 31, 2017

SECURITY NAME Valuation TOTAL $ MV National-OilWell Varco, Inc 240,595 0.04% Natus Medical Inc 897,200 0.15% NCR Corp 112,698 0.02% Neenah Paper Inc 103,609 0.02% Netscout Systems Inc 69,385 0.01% Neustar Inc 36,822 0.01% New Jersey Resources Corporation 148,823 0.03% New Relic Inc 617,975 0.11% New York Community Bancorp Inc 135,273 0.02% New York Times Company 35,325 0.01% Newmarket Corp 84,335 0.01% Newmont Mining Corp (587,740) -0.10% Nordson Corp 131,156 0.02% Norfolk Southern Corp 582,676 0.10% Northwest Bancshares Inc 213,807 0.04% Northwestern Corporation 56,524 0.01% NOW Inc 36,730 0.01% NRG Energy Inc 226,946 0.04% Nu Skin Enterprises Inc 56,117 0.01% Nuvasive Inc 74,950 0.01% NV5 Global Inc 651,883 0.11% NVR Inc 143,585 0.02% Oceaneering International Inc 53,035 0.01% Office Depot Inc 48,538 0.01% OGE Energy Corp 339,385 0.06% Oil States International Inc 34,418 0.01% Old Dominion Freight Line Inc 117,927 0.02% Old Republic International Corp 99,342 0.02% Olin Corp 107,706 0.02% Omega Healthcare Investors Inc 128,141 0.02% One Gas Inc 69,632 0.01% Orbital ATK Inc 113,001 0.02% Oshkosh Corp 101,415 0.02% Owens & Minor Inc 41,799 0.01% Owens-Illinois Inc 198,963 0.03% Packaging Corp Of America 305,075 0.05% Pacwest Bancorp 127,293 0.02% Panera Bread Company 113,455 0.02% Papa John's International Inc 42,336 0.01% Paramount Group Inc REIT 103,769 0.02% PAREXEL International Corp 66,137 0.01% Parker-Hannifin Corp 406,237 0.07% Patterson-Uti Energy Inc 290,517 0.05% PG & E Corporation 174,886 0.03% Phibro Animal Health Corp 95,563 0.02% Pinnacle West Capital Corp 205,718 0.04% Pitney Bowes Inc 445,783 0.08% Plantronics Inc 36,190 0.01% PNM Resources Inc 58,925 0.01% Polaris Industries Inc 98,610 0.02% Polyone Corp 56,315 0.01% Pool Corp 97,419 0.02% Post Holdings Inc 332,418 0.06% Potlatch Corp 37,265 0.01% Prestige Brands Holdings Inc 58,021 0.01% Primerica Inc 74,387 0.01% Primoris Services Corp 146,166 0.03% Principal Financial Group Inc 542,871 0.09% PrivateBancorp Inc 94,208 0.02% Proctor & Gamble Co (437,540) -0.08% Prologis Inc 553,587 0.09% Prosperity Bancshares Inc 95,857 0.02% Prudential Financial Inc 526,409 0.09% PTC Inc 119,816 0.02% Public Service Enterprise Group Inc 204,057 0.04% Public Storage 437,924 0.08% Pultegroup Corp 970,483 0.17% QEP Resources Inc 60,681 0.01% Quality Care Properties REIT 35,554 0.01% Ramco-GershensonREIT 167,906 0.03% Randgold Resources Ltd 526,513 0.09% Rayonier Inc 69,315 0.01% Regal Beloit Corp 67,238 0.01% Regency Centers Corp 309,894 0.05% Regions Financial Corp 521,263 0.09% Reinsurance Group Of America Inc 456,364 0.08% Reliance Steel & Aluminum Company 243,576 0.04% Remark Media Inc 335,544 0.06% RenaissanceRe Holdings Ltd 116,923 0.02% ResMed Inc 625,221 0.11% Resolute Energy Corp 95,905 0.02% Ritchie Brothers Auctioneers Inc 1,486,074 0.25% Rollins Inc 70,822 0.01% Royal Gold Inc 149,973 0.03% RPM International Inc 145,741 0.03% RSP Permian Inc 128,740 0.02% Sally Beauty Holdings Inc 58,068 0.01% Scansource Inc 123,536 0.02% Science Applications International Corp 65,860 0.01% Scotts Miracle-Gro Company 81,878 0.01% Seacor Holdings Inc 187,319 0.03% Sei Investments Company 134,734 0.02% Select Sector Spdr - CD (1,384,174) -0.24% Select Sector Spdr - EN (1,292,927) -0.22% Senior Housing Properties Trust 95,456 0.02% Sensient Technologies Corp 291,306 0.05% Service Corp International 115,904 0.02% Signature Bank 159,180 0.03% March 31, 2017

SECURITY NAME Valuation TOTAL $ MV Silgan Holdings Inc 44,584 0.01% Silicon Laboratories Inc 61,347 0.01% Simon Property Group Inc REIT 822,958 0.14% Skechers USA Inc 73,123 0.01% SL Green Realty Corp 355,484 0.06% SLM Corp 102,965 0.02% SM Energy Company 47,147 0.01% Smart & Final Stores 223,500 0.04% Snyder's-Lance Inc 68,848 0.01% Solar Capital Ltd 135,813 0.02% Sonoco Products Company 105,088 0.02% Sotheby's 41,876 0.01% Southwest Gas Holdings Inc 78,149 0.01% Southwestern Energy Co 228,813 0.04% Spire Inc 144,034 0.02% Spirit Realty Cap Inc 216,942 0.04% Sprouts Farmers Markets Inc 60,923 0.01% Stage Stores Inc 23,626 0.00% STAMPS.COM Inc 868,100 0.15% Steel Dynamics Inc 168,398 0.03% Steelcase Inc 127,554 0.02% Stericycle Inc 718,545 0.12% Stifel Financial Corp 68,141 0.01% Summit Hotel Properties Inc 148,543 0.03% Sun Communities Inc REIT 332,110 0.06% Sunstone Hotel Investors Inc REIT 143,584 0.02% Suntrust Banks Inc 483,064 0.08% Superior Energy Services Inc 255,820 0.04% Supernus Pharmaceuticals Inc 1,481,874 0.25% SVB Financial Group 1,359,163 0.23% Synaptics Incorporated 35,376 0.01% SYNNEX Corp 64,917 0.01% Synovus Financial Corp 98,831 0.02% T Mobile US Inc 215,350 0.04% Take Two Interactive Software Inc 118,968 0.02% Tanger Factory Outlet Centers Inc 62,952 0.01% Taser International Inc 303,937 0.05% Taubman Centers Inc 79,349 0.01% TCF Financial Corp 58,014 0.01% TE Connectivity Ltd 1,004,171 0.17% Tech Data Corp 64,503 0.01% Teledyne Technologies Inc 88,756 0.02% Teleflex Incorporated 171,887 0.03% Telephone And Data Systems Inc 49,710 0.01% Tempur Sealy International Inc 43,588 0.01% Tenet Healthcare Corporation 28,582 0.00% Teradyne Inc 124,451 0.02% Terex Corp 66,255 0.01% Texas Capital Bancshares Inc 82,054 0.01% Texas Instruments Inc 1,031,405 0.18% Texas Roadhouse Inc 57,373 0.01% The Trade Desk Inc 278,197 0.05% Thermon Group Holdings 179,267 0.03% Thor Industries Inc 91,204 0.02% Time Inc 38,572 0.01% Timken Co 62,463 0.01% Toll Brothers Inc 106,160 0.02% Tootsie Roll Industries Inc 14,010 0.00% Toro Company 135,613 0.02% Treehouse Foods Inc 95,598 0.02% TRI Pointe Group Inc 120,293 0.02% Trimas Corp 259,021 0.04% Trimble Inc 161,091 0.03% Trinity Industries Inc 80,265 0.01% Trustmark Corp 43,074 0.01% Tupperware Brands Corp 63,491 0.01% Tyler Technologies Inc 951,916 0.16% Tyson Foods Inc 765,380 0.13% UDR Inc REIT 270,806 0.05% UGI Corp 390,553 0.07% Ultimate Software Group Inc 114,571 0.02% UMB Financial Corp 65,879 0.01% Umpqua Holdings Corp 77,692 0.01% Uni Select Inc (420,753) -0.07% Union Pacific Corp 412,210 0.07% United Continental Holdings Inc 376,833 0.06% United Natural Foods Inc 43,744 0.01% United Rentals Inc 533,669 0.09% United States Steel Corp 116,566 0.02% United Therapeutics Corp 121,750 0.02% UnitedHealth Group Inc 732,746 0.13% Uniti Group Inc REIT 72,201 0.01% Universal Health Services Inc 746,872 0.13% Unum Group 531,542 0.09% Urban Edge Properties REIT 48,273 0.01% Urban Outfitters Inc 42,052 0.01% Valley National Bancorp 61,998 0.01% Valmont Industries Inc 70,038 0.01% Valspar Corp 161,933 0.03% VCA Inc 148,306 0.03% Vectren Corporation 96,678 0.02% VEREIT Inc REIT 283,067 0.05% Verifone Systems Inc 41,949 0.01% Verizon Communications 201,546 0.03% Versum Materials Inc 65,571 0.01% Viasat Inc 1,088,868 0.19% Vicor Corporation 1,764,966 0.30% Vishay Intertechnology Inc 44,189 0.01% March 31, 2017

SECURITY NAME Valuation TOTAL $ MV Vornado Realty Trust REIT 456,987 0.08% WABTEC Corp 133,306 0.02% Waddell & Reed Financial Inc 28,918 0.00% Washington Federal Inc 58,913 0.01% Washington Prime Group Inc REIT 32,497 0.01% Waste Connections Inc 416,403 0.07% Watsco Inc 86,422 0.01% WebMD Health Corporation 40,110 0.01% Webster Financial Corp 345,750 0.06% Weingarten Realty Investors 78,184 0.01% Wellcare Health Plans Inc 123,279 0.02% WellTower Inc REIT 481,690 0.08% Wendy's Company 53,708 0.01% Werner Enterprises Inc 23,777 0.00% West Pharmaceutical Services Inc 117,771 0.02% Westar Energy Inc 239,890 0.04% Western Refining Inc 55,468 0.01% Western Union Co 787,048 0.14% Western Water Company - Westlake Chemical Corporation 132,130 0.02% WEX Inc 78,607 0.01% WGL Holdings Inc 256,611 0.04% White Mountains Insurance Group 193,620 0.03% Whitewave Foods Company 197,490 0.03% Williams-Sonoma Inc 85,938 0.01% Woodward Inc 74,231 0.01% World Fuel Services Corp 50,397 0.01% Worthington Industries Inc 39,694 0.01% WPX Energy Inc 105,263 0.02% WR Berkley Corp 136,473 0.02% Xcel Energy Inc 213,409 0.04% Xperi Corp 814,987 0.14% Zebra Technologies Corp 95,546 0.02%

INTERNATIONAL HOLDINGS

ABB Ltd 368,486 0.06% Abertis Infraestructuras SA 736,763 0.13% Activia Properties, Inc 108,040 0.02% ADO Properties SA 72,749 0.01% Aeroports de Paris Promesses 184,341 0.03% Air Liquide(L') 220,069 0.04% Air Water Inc 669,438 0.11% Allianz SE 501,281 0.09% ARRIS International PLC 99,361 0.02% Aryzta AG 481,511 0.08% As One Corporation 93,408 0.02% Assured Guaranty Ltd 131,153 0.02% Astellas Pharma Inc 139,707 0.02% ASTM SpA 47,351 0.01% Atlantia SpA 740,818 0.13% Ausnet Service 45,210 0.01% Aust & NZ Bank Grp 414,816 0.07% Bangkok Bank Public Company Limited 180,417 0.03% Berkeley Group Holdings plc 225,301 0.04% BHP Billiton Ltd (543,842) -0.09% Bouygues SA 368,623 0.06% BP PLC 255,507 0.04% Brenntag AG 574,524 0.10% British American Tobacco PLC 1,805,592 0.31% British Land Co 15,524 0.00% Bunzl 501,139 0.09% Bureau Veritas SA 603,723 0.10% Buwog-Bauen Und Wohnen Gesellschaft MBH 70,539 0.01% Canon Inc 498,813 0.09% Carrefour SA 195,263 0.03% Cheung Kong Property Holdings Ltd 413,249 0.07% Chofu Seisakusho Co., Ltd 28,091 0.00% Chr.Hansen Holdings 442,977 0.08% Christian Dior SE 13,346 0.00% Cielo SA 378,990 0.07% Colruyt SA 861,291 0.15% Comfortdelgro Corporation Limited 85,942 0.01% Commonwealth Bank of Australia 715,927 0.12% Compagnie de Saint-Gobain SA 260,796 0.04% Compagnie Financiere Richemont SA 938,614 0.16% Compania Cervecerias Unidas S.A. Sponsored ADR 184,275 0.03% Core Laboratories NV 277,312 0.05% CRH PLC 111,604 0.02% Daiichikosho Co., Ltd 149,589 0.03% Daito Trust Construction Co., Ltd 128,141 0.02% Danone SA 880,079 0.15% Delphi Automotive PLC (180,546) -0.03% Deutsche Wohnen AG 144,185 0.02% Dexus Property Group 120,738 0.02% Diageo PLC 1,661,378 0.29% Duet Group 399,804 0.07% Endeavour Mining 541,528 0.09% Endo International PLC 44,423 0.01% ENI SPA 240,075 0.04% Ensco PLC 54,197 0.01% Essilor International 597,673 0.10% Eurocommercial CVA 86,164 0.01% Eutelsat Communications 740,964 0.13% Experian 488,566 0.08% Fabege AB 36,207 0.01% Fanuc Corporation 1,395,035 0.24% March 31, 2017

SECURITY NAME Valuation TOTAL $ MV Fraport AG 382,361 0.07% Fresenius SE & KGAA 879,044 0.15% Fresnillo PLC 176,518 0.03% Fuchs Petrolub SE 636,626 0.11% Fursys, Inc 24,915 0.00% G4S 473,285 0.08% Gaumont SA 12,877 0.00% Gazprom Sponsored ADR 51,666 0.01% Geberit 725,189 0.12% Gecina SA 200,853 0.03% Gemalto 415,017 0.07% GlaxoSmithKline plc 194,305 0.03% Global Logistic Properties Ltd 101,093 0.02% Goldcorp Inc 151,202 0.03% Goodman Group 328,508 0.06% GPT Group 186,038 0.03% Great Eagle Holdings Limited 174,293 0.03% Great Portland Estates PLC 73,218 0.01% Green REIT PLC 30,364 0.01% Grifols SA 423,689 0.07% Groupe Bruxelles Lambert SA 293,496 0.05% Grupo Televisa, S.A.B. Sponsored ADR 423,922 0.07% Guoco Group Limited 118,346 0.02% HAL Trust 178,661 0.03% Hamburger Hafen und Logistik AG 80,468 0.01% Hammerson 146,082 0.03% Hang Lung Properties Limited 605,855 0.10% Hannover Rueck SE 714,418 0.12% Haw Par Corporation Limited 179,979 0.03% HDFC Bank Ltd 746,882 0.13% HeidelbergCement AG 487,961 0.08% Heineken Holding NV 908,288 0.16% Heineken NV 569,960 0.10% Helen of Troy Ltd 144,708 0.02% Hengan International 364,606 0.06% Henkel AG & Co KGaA 1,443,640 0.25% Hera SpA 138,362 0.02% Hirose Elec Co Ltd 728,261 0.12% Hiscox Ltd 118,698 0.02% Hong Kong Land Hlds Ltd 175,374 0.03% Hopewell Holdings Limited 202,800 0.03% Hornbach Holding AG & Co KGaA 15,959 0.00% Howden Joinery Group 427,826 0.07% Hoya Corporation 1,089,313 0.19% HSBC Holdings 401,317 0.07% Hufvudstaden AB 105,095 0.02% Hulic Co. Ltd 137,841 0.02% Hysan Development Co., Ltd 116,202 0.02% ICL-Israel Chem Ltd 344,889 0.06% ICL-Israel Chemicals Ltd 44,396 0.01% IHS Markit Ltd 1,296,841 0.22% Imperial Brands 894,026 0.15% Industrias Penoles SAB de CV 90,746 0.02% ING Groep NV CVA 554,629 0.10% Ingenico Group 488,135 0.08% Intercontinental Hotels 996,637 0.17% Intertek Group 965,992 0.17% Investor AB 306,012 0.05% Ipsos 373,855 0.06% ISS A/S 149,552 0.03% Italgas SpA 260,926 0.04% Italmobiliare SpA 32,181 0.01% Japan Retail Fund Investment REIT 219,569 0.04% Jardine Matheson Holdings Limited 312,380 0.05% Jardine Strategic Holdings Limited 14,766 0.00% Jumbo S.A. 136,036 0.02% Kakaku.com Inc 386,580 0.07% Kansai Paint Co., Ltd 123,229 0.02% KAO Corp 455,262 0.08% KDDI Corporation 605,080 0.10% Kenedix Office Investment Co REIT 180,581 0.03% Keyence Corporation 2,393,300 0.41% KIA Motors Corporation 199,381 0.03% Kingfisher 239,159 0.04% Klepierre 314,485 0.05% Komatsu Ltd 537,261 0.09% KT & G Corporation 572,704 0.10% Kurita Water Ind Ltd 258,171 0.04% Land Securities Group PLC 337,687 0.06% Laurent-Perrier SA 49,769 0.01% LEG Immobilien AG 320,814 0.06% Legrand SA 124,161 0.02% Liberty Global PLC 228,461 0.04% Linde AG 748,380 0.13% Link REIT 370,024 0.06% LivaNova PLC 42,344 0.01% L'Oreal 931,820 0.16% Lotte Confectionery Co., Ltd 81,727 0.01% Luxfer Holdings PLC 104,114 0.02% LVMH Moet Hennessy 437,260 0.08% Lyondellbasell Industries NV 133,776 0.02% Macquarie Atlas Roads Group 139,975 0.02% Maezawa Kasei Industries Co., Ltd 8,157 0.00% Mapletree Commercial Trust 46,958 0.01% Micro Focus Intl PLC 624,576 0.11% Mirvac Group 72,913 0.01% Misumi Group Inc 544,492 0.09% Mitsubishi Estate Company, Limited 437,242 0.08% March 31, 2017

SECURITY NAME Valuation TOTAL $ MV Mitsui Fudosan Co 465,977 0.08% Mori Hills REIT 135,713 0.02% MS&AD Insurance Group Holdings, Inc 252,851 0.04% Nabors Industries Ltd 286,837 0.05% Nagaileben Co., Ltd 43,952 0.01% Namyang Dairy Products Co., Ltd 4,114 0.00% Neopost SA 59,177 0.01% Nestle SA 2,272,284 0.39% New World Development Co. Ltd 44,295 0.01% Newcrest Mining Limited 219,384 0.04% Nidec Corporation 845,551 0.15% Nippon Prologis REIT Inc 306,128 0.05% Nissin Foods Holdings Co., Ltd 88,883 0.02% Noble Corp PLC 30,619 0.01% Nongshim Co., Ltd 90,291 0.02% Novartis AG 1,891,486 0.32% Novo-Nordisk AG 969,756 0.17% NSI NV 60,600 0.01% NTT DoCoMo, Inc 134,104 0.02% Obic Co Ltd 368,077 0.06% Oracle Corp Jpn 499,074 0.09% Orix JREIT Inc REIT 202,679 0.03% Orkla ASA 186,493 0.03% Pargesa Holding SA 156,502 0.03% Pennon Group PLC 319,883 0.05% Pernod-Ricard 360,948 0.06% Platinum Asset Mgmt 323,441 0.06% Prudential PLC 737,177 0.13% PSP Swiss Property AG 90,721 0.02% Publicis Group 1,780,460 0.31% Qiagen NV 351,231 0.06% Quinenco SA 305,584 0.05% Rakuten Inc 520,369 0.09% Rational AG 278,767 0.05% Reckitt Benckiser 324,321 0.06% Red Electrica de Espana 88,664 0.02% Redes Energeticas Nacionais SA 65,810 0.01% RELX PLC 538,715 0.09% Rexel SA 200,554 0.03% Robertet SA 62,566 0.01% Roche Holdings AG 1,755,774 0.30% Rotork 653,797 0.11% Rowan Cos PLC 39,263 0.01% Royal Dutch Shell PLC 235,582 0.04% Sabeton SA 1,321 0.00% Safestore Holdings PLC 49,761 0.01% Sanofi 801,565 0.14% SAP SE 2,634,567 0.45% Scentre Group REIT 395,056 0.07% Schindler Holding AG 1,494,374 0.26% Schindler Holding-PC 69,931 0.01% Schneider Electric 452,362 0.08% Scorpio Tankers Inc 139,627 0.02% Secom Co 798,788 0.14% Segro PLC 132,194 0.02% SES 559,459 0.10% Shimano Inc 1,152,879 0.20% Shin-Etsu Chemical Co Ltd 653,697 0.11% Singapore Telecom Ltd 359,657 0.06% SK Kaken Co., Ltd 32,581 0.01% SMC Corporation 438,908 0.08% Smith & Nephew 527,455 0.09% Snam SpA 641,681 0.11% Societa Iniziative Auto e Servizi SpA 53,639 0.01% Societe Fonciere, Financiere et de Participations SA 29,857 0.01% Sodexo SA 729,861 0.13% Sofina SA 18,870 0.00% Sompo Holdings Inc 486,683 0.08% Spark Infrastructure Group 226,301 0.04% Spirax-Sarco Eng 724,856 0.12% STERIS PLC 387,928 0.07% Sumitomo Realty and Dev 103,623 0.02% Sun Hung Kai Properties Ltd 421,349 0.07% Svenska Handelsbkn 814,969 0.14% Swire Properties Limited 165,573 0.03% Syngenta 555,140 0.10% T. Hasegawa Co., Ltd 21,629 0.00% Taiwan Secom Co., Ltd 4,246 0.00% Taiwan Semiconductor 817,213 0.14% TechnipFMC PLC 192,761 0.03% Telefonica Deutschland Holding AG 92,736 0.02% Terna SpA 740,612 0.13% Terumo Corp 554,649 0.10% Thai Beverage Public Co., Ltd 52,748 0.01% The Sage Group PLC 368,483 0.06% Tingyi Holding Co 335,003 0.06% Total SA 412,744 0.07% Transocean Ltd 224,982 0.04% Transurban Group 466,937 0.08% Tritax Big Box REIT PLC 37,553 0.01% UBM PLC 499,765 0.09% Unibail-Rodamco SE REIT 151,887 0.03% Uni-Charm Corp 814,073 0.14% Unilever NV CVA 1,101,783 0.19% Unilever PLC 698,047 0.12% Unite Group PLC 77,317 0.01% Vinci SA 735,993 0.13% Vonovia SE 149,917 0.03% March 31, 2017

SECURITY NAME Valuation TOTAL $ MV Want Want China Holding Ltd 423,805 0.07% Weatherford Intl PLC 268,722 0.05% Wendel SA 102,056 0.02% Willis Towers Watson PLC 146,089 0.03% WNS Hldgs Ltd 169,411 0.03% WPP PLC 522,632 0.09% Yahoo Japan Corp 386,226 0.07% Yazicilar Holding A.S. 52,109 0.01%

FIXED INCOME HOLDINGS:

CANADIAN HOLDINGS

407 International 462,723 0.08% Addenda Pooled Fund - Corporate Bond 7,032,347 1.21% Aeroports de Montreal 147,980 0.03% Alectra Inc 17,054 0.00% Algonquin Power Co 24,411 0.00% Alimentation Couche-Tard 89,128 0.02% Alliance Pipeline 37,152 0.01% Altagas Ltd 120,245 0.02% Altalink LP 303,325 0.05% AON Finance 19,404 0.00% Arrow Lakes Power Corp 29,611 0.01% Bank of Montreal 1,199,658 0.21% Bank Of Nova Scotia 1,378,242 0.24% Bankers Hall LP 136,009 0.02% BC Ferry Services 58,431 0.01% BC Tel 92,772 0.02% BCIMC Realty Corp 225,193 0.04% Bell Canada 721,186 0.12% Black Press Group 10,874 0.00% BMW Canada Inc 77,767 0.01% Bombardier Inc 1,028,557 0.18% Borealis Infrastructure Trust 6,966 0.00% Brascan Corp 42,877 0.01% Brookfield Asset Management Inc 193,995 0.03% BRP Finance ULC 115,335 0.02% Bruce Power LP 60,950 0.01% Cadillac Fairview Finance Trust 60,789 0.01% Caisse Centrale Desjardins 274,496 0.05% Calloway REIT 35,010 0.01% Cameco Corp 95,745 0.02% Canada Life 23,091 0.00% Canada Post Corporation 258,723 0.04% Canadian Credit Card Trust II 70,770 0.01% Canadian National Railway 15,864 0.00% Canadian Natural Res Ltd 208,920 0.04% Canadian Pacific Railway 142,231 0.02% Canadian Tire 47,268 0.01% Canadian Western Bank 45,309 0.01% Canso Private Debt Fund 630,657 0.11% Capital City Link 4,909 0.00% Capital Power Corp 44,825 0.01% Cards II Trust 9,595 0.00% Central 1 Credit Union 140,577 0.02% Centre Street Trust 9,163 0.00% Choice Properties REIT 139,499 0.02% CHUM Research Center 15,205 0.00% CI Financial Corp 12,440 0.00% CIBC 1,041,135 0.18% Clarica Life 44,459 0.01% ClearStream Energy Services Inc 269,254 0.05% Cogeco Cable Inc 159,355 0.03% Comber Wind Financial Corp 12,942 0.00% Cominar REIT 62,293 0.01% Concentra Financial 96,192 0.02% Consumers Gas 38,798 0.01% Co-operators Financial Services 15,579 0.00% Crombie REIT 9,633 0.00% CrossLinx Transit Solutions 28,196 0.00% CT REIT 76,080 0.01% CU Inc 404,480 0.07% Daimler Canada Finance 68,912 0.01% Dollarama Inc 4,755 0.00% Dream Office REIT 25,480 0.00% Eagle Credit Card Trust 13,458 0.00% Edmonton Regional Airport 8,960 0.00% Emera Inc 36,897 0.01% Empire Life Insurance Co 5,755 0.00% Enbridge Inc 1,260,142 0.22% EnerCare Solutions 19,067 0.00% Enmax Corp 17,852 0.00% Epcor Utilities 75,944 0.01% Fairfax Financial Holdings Ltd 102,603 0.02% Federated Co-operatives Ltd 62,011 0.01% Fifth Avenue LP 13,169 0.00% Finning International Inc 39,645 0.01% First Cap Realty 114,775 0.02% Ford Credit Canada 212,986 0.04% Fortified Trust 11,251 0.00% Fortis Inc 4,792 0.00% FortisAlberta Inc 123,892 0.02% FortisBC Inc (formerly Terasen Gas Inc) 36,438 0.01% Gaz Metropolitain 80,412 0.01% GE Capital Canada 266,928 0.05% March 31, 2017

SECURITY NAME Valuation TOTAL $ MV General Motors Financial Inc 35,316 0.01% Genesis Trust II 138,442 0.02% Genworth 26,125 0.00% George Weston Ltd 39,213 0.01% Glacier Credit Card 51,052 0.01% Granite REIT Holding LP 39,513 0.01% Greater Toronto Airports Authority (GTAA) 535,915 0.09% Great-West LifeCo Inc 160,451 0.03% H&R REIT 49,871 0.01% Halifax International Airport 9,892 0.00% HCN Canadian Holding-1 LP 3,541 0.00% Health Montreal Collective 102,977 0.02% Hollis Receivables Term Trust 59,971 0.01% Home Trust Co 22,711 0.00% Honda Canada Finance Inc 658,701 0.11% Hospital Infrastructure Partners NOH 22,458 0.00% HSBC Bank of Canada 284,256 0.05% Husky Energy Inc 124,480 0.02% Hydro One Ltd 1,453,231 0.25% Hydro Ottawa Holding Inc 9,691 0.00% IGM Financial Inc 25,881 0.00% Industrial Alliance Inc 50,615 0.01% Inpower BC GP 6,109 0.00% Intact Financial Corp 97,861 0.02% Integrated Team Solutions SJHC 34,434 0.01% Inter Pipeline Ltd 123,138 0.02% Investors Group 74,823 0.01% John Deere Canada Funding Inc 84,082 0.01% Kraft Canada Inc 311,525 0.05% Laurentian Bank of Canada 79,388 0.01% Leisureworld Senior Care Corporation 19,849 0.00% Loblaw Cos Ltd 578,158 0.10% Lower Mattagami LP 83,384 0.01% Magna International Inc 20,831 0.00% Manitoba Telecom 10,153 0.00% Manulife Financial 602,409 0.10% Maple Leaf Sports & Entertainment Ltd 338,756 0.06% Maritime & NE Pipe LP 2,836 0.00% Master Credit Card Trust 70,729 0.01% MCAP Commercial LP 1,216,300 0.21% Metro Inc 79,580 0.01% Mississagi Power Trust 28,460 0.00% Morguard Corporation 2,908 0.00% Mutual Life Assurance 47,245 0.01% National Bank of Canada 303,235 0.05% NAV Canada 324,174 0.06% New Brunswick Highway 177,039 0.03% Newfoundland & Labrador Hydro 9,168 0.00% Nissan Canada Financial Services 4,710 0.00% North Battleford Power 24,386 0.00% North West Redwater 207,707 0.04% NorthwestConnect GP 9,597 0.00% Nova Gas Trans Ltd 82,752 0.01% Nova Scotia Power Inc 79,949 0.01% Omers Realty Corp 155,029 0.03% ORNGE Issuer Trust 101,937 0.02% Ottawa Macdonald-Cartier International Airport 49,730 0.01% Ontrea Inc 81,469 0.01% Pearson International Fuel 4,264 0.00% Pembina Pipeline Corporation 170,862 0.03% Penske Truck Leasing 31,895 0.01% Plenary Health Care Partnership 117,250 0.02% Postmedia Network Inc 267,085 0.05% Power Corp Of Canada 76,285 0.01% Purch Inc 37,941 0.01% Real Estate Asset Liquidity Trust 3,980 0.00% Reliance LP 14,759 0.00% RioCan REIT 74,991 0.01% Rogers Communications Inc 944,347 0.16% Royal Bank Of Canada 2,964,584 0.51% Saputo Inc 25,346 0.00% Scotia Plaza 17,348 0.00% SGTP Highway Bypass LP 3,199 0.00% Shaw Communications Inc 1,188,170 0.20% Shoppers Drug Mart 22,347 0.00% Smart REIT 27,041 0.00% SNC-Lavalin Group 99,092 0.02% Sobeys Inc 337,988 0.06% SSL Finance Inc 30,301 0.01% St. Clair Holding ULC 104,609 0.02% Standard Life 156,324 0.03% Strait Crossing Dev Inc 262,442 0.05% Sun Life Financial Inc 157,324 0.03% Suncor Energy Inc 107,710 0.02% Teck Resources Ltd 191,033 0.03% Telus Corporation 430,689 0.07% Teranet Holdings LP 84,638 0.01% Terasen Gas Inc (FortisBC) 84,925 0.01% Thomson Reuters Corp 96,810 0.02% TMX Group LTD 29,347 0.01% Toromont Industries Ltd 4,805 0.00% Toronto-Dominion Bank 1,957,081 0.34% Toronto Hospital 106,868 0.02% Toronto Hydro 110,247 0.02% Toyota Credit Canada Inc 171,027 0.03% TransAlta Corporation 52,847 0.01% TransCanada Corporation 1,333,330 0.23% Transcontinental Inc 9,658 0.00% March 31, 2017

SECURITY NAME Valuation TOTAL $ MV TransEd Partners 18,958 0.00% Union Gas LTD 146,147 0.03% Vancouver International Airport 43,138 0.01% Ventas Canada Finance LTD 40,251 0.01% Veresen Inc 8,618 0.00% Videotron Ltee 81,050 0.01% VW Credit Canada Inc 96,072 0.02% Wells Fargo Financial Canada 191,677 0.03% West Edmonton Mall Property Inc 53,891 0.01% Westcoast Energy 157,895 0.03% WestJet Airlines Ltd 9,625 0.00% Winnipeg Airport Authority 29,434 0.01% WTH Car Rental ULC (AVIS) 81,655 0.01% Xplornet Comm Inc 177,979 0.03% Yellow Pages Limited 398,539 0.07%

UNITED STATES HOLDINGS

Lehman Bros Holding Inc 153 0.00% Merrill Lynch 679,352 0.12% Metlife Inc 621,097 0.11% Navient Corp 925,507 0.16% Tennessee Gas Pipeline 222,921 0.04%

INTERNATIONAL HOLDINGS

Caisse Francaise de Financement Local 201,684 0.03% Heathrow Funding Ltd 501,802 0.09% National Grid Electricity Transmission 224,787 0.04% Neder Waterschapsbank 226,199 0.04% Royal Bank of Scotland 258,287 0.04% Unicredit 454,068 0.08%

FEDERAL, PROVINCIAL, MUNICIPAL HOLDINGS and CASH and CASH EQUIVALENTS

Cash and Cash Equivalents

Cash - CAD 6,295,640 1.08% Gold Spot $/oz 1,600,895 0.27%

Addenda Pooled Fund - Money Market 1,107,364 0.19% Fiera Court Terme (ST Cash Equiv) 54,320 0.01% Money Market Fund - Montrusco Bolton 254,644 0.04%

TD Bank - BA 843,124 0.14% CIBC - BA 790,382 0.14% Bank of Nova Scotia - BA 440,382 0.08% RBC - BA 682,229 0.12%

Prov Of BC - T-Bill 11,284 0.00% Prov Of NB - T-Bill 176,236 0.03% Prov Of Ontario - T-Bill 276,862 0.05%

Government of Canada - T-Bill 12,471,246 2.14% United States - Treasury Bills (CAD) 7,526,817 1.29%

Federal

Broadcast Centre Trust 68,671 0.01% Canada Government 18,586,813 3.19% Canada Housing Trust 7,506,946 1.29% CPPIB Capital Inc 48,010 0.01% Labrador-Island Link Fund 242,418 0.04% Maritime Link Financing Trust 26,454 0.00% Milit-Air Inc 107,394 0.02% Muskrat Falls/Lab Trust 230,727 0.04% NHA MBS 1,202,294 0.21% PSP Capital Inc 709,560 0.12% Royal Office Finance LP 209,173 0.04%

Provincial

55 School Board Trust 92,504 0.02% CDP Financial Inc 13,584 0.00% Durham District School Board 34,272 0.01% Financement Quebec 419,108 0.07% Hydro Quebec 2,441,964 0.42% Mars Development Trust 5,758 0.00% McMaster University 9,804 0.00% Ontario Electricity Financial 94,334 0.02% Ontario Infrastructure Projects 2,925 0.00% Ontario Pension Board Finance Trust 416,327 0.07% Ontario Schl Fin Corp 872,754 0.15% Ottawa Carleton CSB 149,531 0.03% Prov of BC - PPN 1,268,544 0.22% Province Of Alberta 2,327,065 0.40% Province Of BC 1,826,249 0.31% Province Of Manitoba 1,001,074 0.17% Province Of New Brunswick 512,925 0.09% Province Of NFLD & LAB 374,219 0.06% Province Of Nova Scotia 380,429 0.07% Province Of Ontario 13,401,442 2.30% Province Of PEI 62,872 0.01% Province Of Quebec 6,707,160 1.15% Province Of Saskatchewan 1,620,774 0.28% March 31, 2017

SECURITY NAME Valuation TOTAL $ MV Scotia Schools Trust 30,504 0.01% TCHC Issuer Trust 112,105 0.02% University of BC 150,315 0.03% University of Toronto 164,722 0.03% Upper Grand Dist Sch 37,387 0.01% Wilfrid Laurier University 54,213 0.01% York Reg Dist Sch 63,263 0.01%

Municipal

BC Muni Finance 703,655 0.12% First Nations Fin Au 29,466 0.01% Halton ON Reg Muni 62,500 0.01% Montreal PQ 643,481 0.11% Ottawa ON 32,765 0.01% Peel Reg ON 51,992 0.01% Toronto ON 370,990 0.06% Translink 23,247 0.00% Vancouver BC 15,146 0.00% Waterloo ON 26,228 0.00% Winnipeg MB 40,702 0.01% York ON Reg Muni 183,228 0.03%

Supranational

Government of Indonesia - Bond 18,351 0.00% Government of Singapore - Bond 190,662 0.03% Government of Mexico - Bond 173,179 0.03% Government of Poland - Bond 58,634 0.01% Government of United Kingdom - Bond 43,461 0.01% Asian Dev Bank 200,344 0.03% Inter-American Dev Bank 338,352 0.06% International Bank for Reconstruction 51,571 0.01%

Total Publicly Tradable Securities 468,280,757 80.34%

Total Investments$ 582,847,000

Publicly Tradeable Securities: Directly Held Securities - % of Investment value 35% Indirectly Held Securities - % of Investment value 65%