STONE PORTFOLIO NOTES
@ April 30, 2021
HOLDING % HOLDING %
Weightings: Growth 41.9 Weightings: Inflation 0.8 Abbott Laboratories 0.8 Ecolab 0.5 BCE Inc. 0.4 Pembina Pipeline Corporation 0.3 Cargojet Inc. 0.5 Coca-Cola Company 0.2 Weightings: Interest Sensitive 10.8 Costco Wholesale Corp. 0.6 AES Corp. 0.7 Fidelity National Information Services 0.4 Algonquin Power & Utilities Corp. 0.4 Jamieson Wellness Inc. 0.6 Bank of Montreal 0.5 Microsoft Corp. 1.0 Bank of Nova Scotia 1.0 Open Text Corp. 0.4 Boralex Inc. 0.4 Oracle Corporation 0.6 Brookfield Asset Management Inc., Cl. A 1.0 Park Lawn Corp. 0.4 Brookfield Infrastructure Partners L.P. 0.4 Stantec Inc. 0.5 Canadian Imperial Bank of Commerce 0.6 Stone Global Sustainability Fund, Sr. A 13.4 Choice Properties REIT 0.3 Stone Global Growth Fund, Sr. A 18.1 Granite REIT 0.3 Stryker Corp. 0.6 Northland Power Inc. 0.4 TELUS Corp. 0.4 Power Financial Corp. 0.6 TFI International Inc. 1.0 Royal Bank of Canada 1.5 UnitedHealth Group Inc. 0.5 Summit Industrial Income REIT 0.4 Visa 0.9 Sun Life Financial Inc. 0.5 Waste Connections Inc. 0.6 Toronto-Dominion Bank 1.4 Transalta Corp. 0.4
Cash & Other Assets (Liabilities) 1.1
Fixed Income 45.4
Net Asset Value 100.0
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HOLDING % HOLDING % HOLDING % Weightings: Fixed Income 45.4 Weightings: Fixed Income (Cont’d) Weightings: Fixed Income (Cont’d) 407 International Inc., 2.430%, 5/4/27 0.1 Goldman Sachs, Var. Rt., 2/28/29 0.2 Province of Quebec, 3.000%, 9/1/23 0.7 407 International Inc., 3.430%, 6/1/33 0.2 Government of Canada, 2.000%,12/1/51 3.9 Province of Quebec, 3.100%, 12/1/51 0.2 Aeroport de Montreal, 3.441%, 4/26/51 0.2 Government of Canada, 2.250%, 3/1/24 0.5 Province of Quebec, 3.500%, 12/01/22 2.4 Alectra Inc., 5.297%, 04/29/41 0.1 Government of Canada, 2.750%, 12/01/48 0.1 Province of Quebec, 3.500%, 12/01/45 0.0 Algonquin Power Co., 2.850%, 7/15/31 0.1 Government of Canada, 2.750%, 12/01/64 0.1 Province of Quebec, 3.500%, 12/01/48 1.2 Algonquin Power, 4.600%, 01/29/29 0.4 Hydro One Inc., 3.630%, 6/25/49 0.2 Province of Quebec, 4.250%, 12/01/43 0.7 Alimentation Couche-Tard, 3.899%, 11/01/22 0.1 Iron Mountain, 4.500%, 02/15/31 0.1 Reliance LP, 2.670%, 8/1/28 0.4 Altagas Ltd., 2.477%, 11/30/30 0.5 Iron Mountain, 5.000%, 07/15/28 0.1 RioCan REIT, 1.974%, 6/15/26 0.5 Arc Resources Ltd., 2.354%, 3/10/26 0.6 Mattel Inc., 3.375%, 4/1/26 0.1 Rogers Communications Inc, 4.000%, 03/13/24 0.4 Bank of America, Var. Rt., 9/20/25 0.3 Newell Brands Inc., 4.875%, 06/01/25 0.1 Rogers Communications Inc., 3.650%, 03/31/27 0.2 Bank of America, 2.598%., 4/4/29 0.2 Pembina Pipeline Corp., Var Rt, 1/25/81 0.3 Stantec Inc., 2.048%, 10/08/27 0.0 BCE Inc., 2.500%, 5/14/30 0.2 Province of Alberta, 3.100%, 06/01/50 0.2 Sun Life Financial, Var. Rt., 09/19/28 0.6 BCE Inc., 3.500%, 9/30/50 0.2 Province of British Columbia, 2.550%, 6/18/27 0.5 Sun Life Financial, Var. Rt., 10/01/35 0.2 Canada Housing Trust, 1.750%, 6/15/30 1.1 Province of British Columbia, 2.800%, 06/18/48 0.1 Targa Resources Corp., 4.000%, 1/15/32 0.3 Canada Housing Trust, 2.350%, 06/15/23 0.7 Province of British Columbia, 2.850%, 6/18/25 0.5 TC Energy, 4.340%, 10/15/49 0.5 Canada Housing Trust, 2.900%, 6/15/24 0.7 Province of British Columbia, 3.200%, 6/18/44 0.1 Telus Corp., 2.050%, 10/07/30 0.4 Canadian Natural Resources, 2.500%, 1/17/28 0.4 Province of British Columbia, 3.300%, 12/18/23 0.7 Telus Corp., 2.750%, 07/08/26 0.5 Capital Power Corp., 4.284%, 9/18/24 0.6 Province of Nova Scotia, 4.700%, 6/1/41 0.3 Telus Corp., 3.950%, 2/16/50 0.0 Capital Power Corp., 4.424%, 02/08/30 0.3 Province of Ontario, 1.350%, 12/2/30 0.7 Tenet Healthcare, 4.625%, 06/15/28 0.0 Carriage Services, 4.250%, 5/15/29 0.1 Province of Ontario, 1.750%, 9/8/25 1.8 Thomson Reuters, 2.239%, 05/14/25 0.3 Cenovus Energy Inc., 3.500%, 02/07/28 0.8 Province of Ontario, 2.050%, 06/02/30 0.4 T-Mobile USA, 3.375%, 4/15/29 0.4 Cheniere Energy, 4.000%, 3/1/31 0.5 Province of Ontario, 2.400%, 6/02/26 0.8 Topbuild Corp., 3.625%, 3/15/29 0.1 Choice Properties., 3.556%, 9/9/24 0.4 Province of Ontario, 2.650%, 12/02/50 0.6 Toronto Hydro Corp., 2.990%, 12/10/49 0.1 Corus Entertainment Inc., 5.000%, 5/11/28 0.4 Province of Ontario, 2.700%, 06/02/29 0.4 Tourmaline Oil, 2.077%, 1/25/28 0.1 Davita Inc., 3.750%, 2/15/31 0.4 Province of Ontario, 2.800%, 6/02/48 0.3 Toyota Credit Canada, 2.620%, 10/11/22 0.2 Enbridge Inc., Var Rt., 9/27/77 0.4 Province of Ontario, 2.850%, 6/2/23 0.7 Transurban Finance Co., 4.555%, 11/14/28 0.3 Energizer Holdings, 4.375%, 3/31/29 0.4 Province of Ontario, 2.900%, 06/02/28 0.3 Vancouver Airport, 1.760%, 9/20/30 0.4 Enmax Corp., 3.876%, 10/18/29 0.4 Province of Ontario, 2.900%, 06/02/49 0.8 Verizon Communications Inc., 2.375%, 3/22/28 0.4 Ford Credit Canada, 3.349%, 9/19/22 0.2 Province of Ontario, 3.150%, 06/02/22 2.4 Videotron Ltd., 3.125%, 1/15/31 0.5 Ford Credit Canada, 3.500%, 11/30/23 0.3 Province of Ontario, 3.500%, 6/2/24 0.8 VW Credit Canada, 3.250%, 03/29/23 0.1 Gartner Inc., 3.750%, 10/01/30 0.1 Province of Quebec, 1.900%, 09/01/30 0.2 Walt Disney Companies, 3.057%, 3/30/27 0.4 Gartner Inc., 4.500%, 07/01/28 0.1 Province of Quebec, 2.500%, 09/01/26 1.2 GE Capital Canada, 5.730%, 10/22/37 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 /
HOLDING % HOLDING %
Weightings: Growth 44.9 Weightings: Interest Sensitive 48.7 Abbott Laboratories 3.8 AES Corp. 2.8 BCE Inc. 2.0 Algonquin Power & Utilities Corp. 1.4 Cargojet Inc. 2.1 Bank of Montreal 2.0 Coca-Cola Company 1.4 Bank of Nova Scotia 5.0 Costco Wholesale Corp. 2.5 Boralex Inc. 1.7 Fidelity National Information Services 1.5 Brookfield Asset Management Inc., Cl. A 5.0 Jamieson Wellness Inc. 2.3 Brookfield Infrastructure Partners L.P. 1.7 Microsoft Corp. 4.6 Canadian Imperial Bank of Commerce 2.6 Open Text Corp. 1.4 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. 1.9 Stryker Corp. 2.3 Power Financial Corp. 2.6 TELUS Corp. 2.0 Royal Bank of Canada 7.5 TFI International Inc. 4.6 Summit Industrial Income REIT 1.5 UnitedHealth Group Inc. 2.0 Sun Life Financial Inc. 2.0 Visa 3.8 Toronto-Dominion Bank 6.2 Waste Connections Inc. 2.5 Transalta Corp. 1.6
Weightings: Inflation 3.0 Cash & Other Assets (Liabilities) 3.4 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
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HOLDING % HOLDING % HOLDING %
Weightings: Growth 85.1 Weightings: Growth (Con’t) Weightings: Inflation 4.2 Adobe Systems Inc. 2.1 L'Oreal 1.7 Linde plc 1.3 Align Technology Inc. 1.8 Martin Marietta Materials Inc. 1.6 Sherwin Williams Co. 1.5 Alphabet Inc., Cl. C 2.2 Mastercard Inc. 1.8 Sika Ltd. 1.4 Amazon.com Inc. 2.7 Match Group Inc. 2.2 Amphenol Corporation, Cl. A 1.6 Microsoft Corp. 1.9 Weightings: Interest Sensitive 9.4 ASML Holding 1.8 Next plc 1.8 First Republic Bank 1.6 Autodesk 1.6 Nike Inc., Cl. B 1.3 Jack Henry & Associates Inc. 1.2 Broadridge Financial Solutions Inc. 1.2 Nvidia Corp. 2.3 Partners Group Holdings AG 1.6 Cellnex Telecom SA 1.7 Ocado Group plc 1.5 S&P Global Inc. 1.6 Chegg Inc. 1.2 Paypal Holdings Inc. 2.2 Signature Bank 1.3 Cintas Corp. 1.2 Rational AG 1.3 SVB Financial Group 2.1 Costar Group Inc. 1.4 Rightmove plc 1.3 Costco Wholesale Corp. 1.7 Ringcentral Inc. 1.5 Cash & Other Assets (Liabilities) 1.3 Delivery Hero AG 1.6 Rollins Inc. 1.5 Essilor International SAS 1.5 Sandvik AB 1.4 Net Asset Value 100.0 Estee Lauder Companies Inc., Cl. A 2.0 Sartorius Stedim Biotech 2.3 Freshpet Inc. 2.1 Shopify Inc. 1.3 Global Payments Inc. 1.7 SKF AB 1.3 Hermes International 1.6 Tencent Holdings Ltd. 1.6 Howden Joinery Group PLC 1.5 TJX Companies Inc. 1.7 Hypoport AG 1.4 Uber Technologies Inc. 1.3 Idexx Labs 1.8 Visa 1.8 Infineon Technologies AG 1.6 Waste Connections Inc. 1.4 Intuit Inc. 1.9 JB Hunt Transport Services Inc. 1.6 Kering SA 1.7 Lamb Weston Holdings Inc. 1.3 Lonza Group AG, Reg. 1.6
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HOLDING % HOLDING %
Weightings: Growth 83.1 Weightings: Growth (Con’t) Accenture Limited 2.2 Motorola Solutions Inc. 1.8 Aecon Group Inc. 2.3 Palo Alto Networks Inc. 2.7 Alphabet Inc., Cl. C 2.9 PerkinElmer Inc. 1.6 Amazon.com Inc. 2.8 Sensata Technologies Inc. 2.0 Amgen 1.9 SS&C Technologies 2.2 Applied Materials Inc. 2.4 Steris plc 2.1 ATS Automation Tooling Systems Inc. 2.4 Stone Global Growth Fund, Sr. A 3.7 BioMarin Pharmaceutical Inc. 1.4 TJX Companies Inc. 1.9 Boston Scientific Corp. 1.4 UnitedHealth Group Inc. 2.6 Broadcom Ltd. 2.3 Visa 2.2 Cigna Corp. 2.7 Corning Inc. 2.0 Weightings: Inflation 4.5 Costco Wholesale Corp. 1.6 Ballard Power Systems Inc. 1.0 Drone Delivery Canada Corp. 1.2 Orocobre Ltd. 1.5 Electronic Arts Inc. 1.9 PPG Industries Inc. 2.0 Fortinet Inc. 3.0 Global Payments Inc. 1.8 Weightings: Interest Sensitive 11.6 HCA Holdings Inc. 2.8 AES Corp. 2.0 Hologic Inc. 1.3 Blackrock Inc. 2.7 Hubbell Inc. 2.2 Boralex Inc. 1.5 Intuitive Surgical Inc. 2.2 KKR & Co. 2.9 Jamieson Wellness Inc. 1.9 Onex Corp. 2.0 Kinaxis Inc. 2.3 Panton Equity Partners L.P., Cl. A 0.5 Laboratory Corp of America Holdings 2.1 Mastercard Inc. 2.3 Cash & Other Assets (Liabilities) 0.8 Medtronic PLC 2.2 Microsoft Corp. 2.6 Net Asset Value 100.0 MKS Instruments Inc. 2.2 Stone Growth Fund Series A Best Fund Over Past 3 Years North American Equity
/ HOLDING % HOLDING %
Weightings: Growth 75.8 Weightings: Growth (Con’t) Abbott Laboratories 2.1 Shopify Inc. 1.9 Adobe Systems Inc. 2.6 SIG Combibloc Group AG 2.4 Adyen NV 2.4 Taiwan Semiconductor Manufacturing Co. Ltd. 2.4 Alfen Beheer BV 1.2 Thermo Fisher Scientific Inc. 2.2 Ansys Inc. 2.1 Tomra Systems ASA 2.5 Aptiv plc 2.4 Trimble Inc. 2.6 ASML Holding 3.1 Vestas Wind Systems A/S 2.8 Assa Abloy AB 2.4 Visa 2.7 Badger Meter Inc. 2.2 Cadence Design Systems Inc. 2.0 Weightings: Inflation 9.7 Clorox Co. 1.4 Ballard Power Systems Inc. 1.3 DSV Palalpina A/S 1.2 Chr Hansen Holding A/S 2.1 Edwards Lifesciences 2.6 Ecolab 2.5 Eurofins Scientific 1.8 EDP Renovaveis SA 1.2 GN Store Nord A/S 2.3 Trex Co. Inc. 2.6 Halma plc 2.0 Jungheinrich PFD 2.4 Weightings: Interest Sensitive 10.7 KONE OYJ, Cl. B 1.6 AIA Group 2.6 Linde plc 2.7 First Republic Bank 2.6 Littelfuse Inc. 2.3 Hannon Armstrong 2.1 Mastercard Inc. 2.4 Legal & General Group PLC 2.3 Microsoft Corp. 2.4 Orsted A/S 1.1 Nidec Corp. 2.3 Paypal Holdings Inc. 2.3 Cash & Other Assets (Liabilities) 3.8 Reed Elsevier plc 1.9 Sartorius Stedim Biotech 2.2 Net Asset Value 100.0
/ HOLDING %
Weightings: Growth 98.8 Stone Global Sustainability Fund F 98.8
Cash & Other Assets (Liabilities) 1.2
Net Asset Value 100.0
/ HOLDING % HOLDING %
Weightings: Growth 71.9 Weightings: Inflation 5.5 3M Co. 3.0 Ecolab 2.8 ABB Ltd. 2.8 Ingredion Inc. 2.7 Abbott Laboratories Inc. 2.9 Abbvie Inc. 2.3 Weightings: Interest Sensitive 21.8 Accenture Limited 2.8 AES Corp. 2.7 Activision Blizzard Inc. 1.3 Allstate Corp. 3.2 Apple Inc. 3.1 Blackrock Inc. 3.5 Applied Materials Inc. 2.7 Brookfield Infrastructure Partners 3.1 Broadcom Inc. 2.3 Citizens Financial Group Inc. 3.1 Cisco Systems Inc. 2.1 Fifth Third Bancorp. 3.4 Coca-Cola Company 1.4 State Street Corp. 2.8 Costco Wholesale Corp. 2.4 CVS Health Corp. 2.1 Cash & Other Assets (Liabilities) 0.8 Fidelity National Information Services 2.7 Home Depot Inc. 2.8 Net Asset Value 100.0 Honeywell International Inc. 2.6 KLA Tencor Corp. 2.9 Merck & Co. Inc. 2.4 Microsoft Corp. 3.2 Oracle Corp. 2.9 Qualcomm Inc. 3.0 Raytheon Company 3.2 Stryker Corp. 2.9 United Parcel Service Inc. 3.2 Verizon Communications Inc. 1.6 Visa Corp. 2.6 Walmart Inc. 2.5 Walt Disney Co. 2.2
/ HOLDING % HOLDING %
Weightings: Growth 20.3 Weightings: Interest Sensitive (Con’t) Aecon Group Inc. 2.4 Granite REIT 1.5 BCE Inc. 3.9 Hydro One Inc. 2.1 George Weston Inc. 0.7 Laurentian Bank of Canada, Pfd. 1.3 Loblaw Companies Ltd., Pfd. 0.7 Manulife Financial Corp. 3.2 Rogers Communications Inc. 3.5 Manulife Financial Corp., Pfd. 1.2 Shaw Communications Inc. 5.4 National Bank of Canada 3.6 Telus Corp. 3.7 Northland Power Inc. 3.4 Power Financial Corp. 3.9 Weightings: Interest Sensitive 72.3 Royal Bank of Canada 3.5 AES Corp. 2.9 Summit Industrial Income REIT 1.7 Algonquin Power & Utilities Corp. 2.5 Sun Life Financial Inc. 3.1 Bank of Montreal 3.8 TC Energy Corp. 3.1 Bank of Nova Scotia 3.9 Toronto-Dominion Bank 3.9 Brookfield Infrastructure Partners 4.4 Toronto-Dominion Bank, Pfd. 1.2 Canadian Imperial Bank of Commerce 3.8 Canadian Imperial Bank of Commerce, Pfd. 1.2 Weightings: Inflation 6.7 Canadian Utilities, Pfd. 0.7 Enbridge Inc. 3.7 Choice Properties REIT 1.6 Pembina Pipeline Corp. 3.0 CI Financial Inc. 2.0 Emera Inc. 3.7 Cash & Other Assets (Liabilities) 0.7 Emera Inc., Pfd. 0.7 Fortis Inc. 3.6 Net Asset Value 100.0 Fortis Inc., Pfd. 0.8
/ HOLDING % HOLDING %
Weightings: Interest Sensitive 98.9 Cash & Other Assets (Liabilities) 1.1 Bank of Montreal 8.8 Bank of Nova Scotia 8.2 Net Asset Value 100.0 Brookfield Asset Management Inc. 3.3 Brookfield Asset Management Inc., Cl. A, Pfd. 0.7 Canadian Imperial Bank of Commerce 8.1 Canadian Western Bank 2.7 PORTFOLIO HOLDINGS Great West Lifeco Inc. 5.3 Great West Lifeco, Pfd. 0.6 1.1 IA Financial Corp. Inc. 3.5 IGM Financial Inc. 3.7 Intact Financial Corp. 3.3 17.8 Intact Financial Corporation, Pfd. 0.6 55.3 Laurentian Bank of Canada 3.2 Manulife Financial Corp. 5.5 9.8 Manulife Financial Corp., Pfd. 0.7 National Bank of Canada 8.1 Onex Corp. 2.1 16.0 Power Financial Corp. 6.0 Power Corp. of Canada, Pfd. 0.7 Banks Insurance Royal Bank of Canada 7.9 Asset Managers Financial Services Sun Life Financial Inc. 4.6 Cash & Other Sun Life Financial Inc., Pfd. 0.7 TMX Group Ltd. 2.3 Toronto Dominion Bank 8.3
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