Annual Report - SEI

Canadian Equity Fund
Statement of Investment Portfolio
AS AT DECEMBER 31, 2009
Number Average Fair
of Cost Value
Shares $ $
CANADIAN EQUITIES – 97.6%
Consumer Discretionary – 5.4%
Astral Media Inc. 151,850 4,209,360 5,035,346
BMTC Group Inc., Class ‘A’ 115,863 2,242,745 3,429,545
Canadian Tire Corp. Ltd., Class ‘A’ 157,200 3,444,933 9,015,420
Coastal Contacts Inc. 717,736 684,651 1,012,008
Cogeco Cable Inc. 279,950 4,006,887 9,775,854
COGECO Inc. 61,111 821,962 1,752,663
Corus Entertainment Inc., Class ‘B’ 641,537 10,097,029 12,670,356
Easyhome Ltd. 70,482 1,292,656 625,880
Gildan Activewear Inc. 98,000 2,290,336 2,505,860
Glacier Media Inc. 835,136 2,452,489 1,670,272
Le Chateau Inc. 148,966 1,915,731 2,033,386
Magna International Inc., Class ‘A’ 312,986 17,135,893 16,644,595
Quebecor Inc., Class ‘B’ 121,700 3,073,938 3,299,287
RONA Inc. 294,400 4,266,141 4,542,592
Shaw Communications Inc. 679,300 9,495,006 14,672,880
Thomson Reuters Corp. 625,000 25,109,327 21,187,500
Tim Hortons Inc. 221,800 6,820,350 7,113,126
Torstar Corp., Class ‘B’ 627,111 4,932,293 3,913,173
Yellow Pages Income Fund 2,034,127 20,052,490 10,902,921
124,344,217 131,802,664
Consumer Staples – 3.4%
Alimentation Couche-Tard Inc., Class ‘B’ 376,600 4,860,815 7,814,450
Canada Bread Co. Ltd. 41,855 2,741,894 2,165,996
Cineplex Galaxy Income Fund 237,433 3,839,974 4,326,029
Empire Co. Ltd., Class ‘A’ 238,761 9,965,436 11,262,356
Lassonde Industries Inc., Class ‘A’ 16,278 651,428 834,573
Loblaw Cos. Ltd. 751,523 27,103,114 25,416,508
Metro Inc., Class ‘A’ 182,800 5,415,990 7,165,760
North West Co. Fund (The) 128,087 2,041,813 2,432,372
Saputo Inc. 162,600 4,747,043 4,999,950
Viterra Inc. 1,719,500 15,894,852 16,954,270
77,262,359 83,372,264
Energy – 25.6%
AltaGas Income Trust 353,512 8,486,933 6,635,420
Antrim Energy Inc. 352,418 733,788 444,047
ARC Energy Trust 317,308 7,150,323 6,327,122
Bankers Petroleum Ltd. 2,579,800 9,707,960 16,020,558
Birchcliff Energy Ltd. 513,467 3,391,526 4,826,590
Bonavista Energy Trust 336,407 9,252,892 7,491,784
Cameco Corp. 702,200 17,707,553 23,741,382
Canadian Natural Resources Ltd. 798,900 47,081,356 60,452,763
Canadian Oil Sands Trust 298,111 8,657,072 8,877,746
Celtic Exploration Ltd. 100,570 1,455,609 2,090,850
Cenovus Energy Inc. 1,648,968 48,937,175 43,648,183
Crescent Point Energy Corp. 157,200 5,914,753 6,201,540
Crew Energy Inc. 1,875,645 22,796,903 27,365,661
Daylight Resources Trust 317,796 2,809,590 3,231,985
Enbridge Inc. 127,350 4,755,913 6,182,842
EnCana Corp. 630,168 19,762,446 21,457,220
Galleon Energy Inc., Class ‘A’ 323,181 3,123,342 1,696,700
Number Average Fair
of Cost Value
Shares $ $
Husky Energy Inc. 307,200 9,696,713 9,222,144
Imperial Oil Ltd. 491,575 19,520,154 19,962,861
Legacy Oil + Gas Inc., Class ‘A’ 220,033 2,103,428 2,114,517
Mullen Group Ltd. 385,879 6,514,249 6,274,393
Nexen Inc. 746,870 15,222,499 18,776,312
Niko Resources Ltd. 350,400 23,495,147 34,419,792
OPTI Canada Inc. 967,700 5,062,082 1,945,077
Parex Resources Inc. 181,930 578,570 738,636
Pason Systems Inc. 147,800 1,609,923 1,717,436
Pembina Pipeline Income Fund 734,000 11,289,454 12,822,980
Petro Rubiales Energy Corp. 1,676,626 11,569,792 25,820,040
PetroBakken Energy Ltd. 52,127 1,804,893 1,684,223
Petrobank Energy & Resources Ltd. 756,200 18,455,315 38,588,886
Petrominerales Ltd. 544,100 7,019,701 10,201,875
Peyto Energy Trust 511,053 7,016,120 7,139,410
Phoenix Technology Income Fund 338,119 2,667,968 2,772,576
Precision Drilling Trust 764,900 4,584,056 5,813,240
Progress Energy Resources Corp. 386,100 5,538,176 5,444,010
Provident Energy Trust 254,876 1,454,615 1,796,876
Rock Energy Inc. 484,547 1,661,659 1,560,241
ShawCor Ltd., Class ‘A’ 185,000 3,335,879 5,416,800
Storm Exploration Inc. 687,000 10,737,018 8,937,870
Suncor Energy Inc. 1,875,237 71,394,271 69,590,045
Talisman Energy Inc. 1,595,600 24,111,689 31,193,980
TransCanada Corp. 1,221,154 38,414,984 44,144,717
TransGlobe Energy Corp. 765,688 3,046,728 2,649,280
Trinidad Drilling Ltd. 276,054 1,873,585 1,935,139
UEX Corp. 1,213,100 7,019,351 1,273,755
538,523,153 620,649,504
Financials – 32.7%
Artis REIT 223,478 2,258,596 2,491,780
Bank of Montreal 790,295 42,525,252 44,090,558
Bank of Nova Scotia 3,103,087 126,893,628 152,640,850
Brookfield Asset Management Inc., Class ‘A’ 252,250 6,491,550 5,887,515
Canadian Imperial Bank of Commerce 219,100 12,498,067 14,887,845
Canadian Western Bank 374,892 6,432,598 8,210,135
First National Financial Income Fund 107,607 1,385,010 2,028,392
GMP Capital Inc. 983,432 12,854,640 12,351,906
Great-West Lifeco Inc. 959,217 21,384,990 25,726,200
Home Capital Group Inc. 260,837 8,217,868 10,874,295
Industrial Alliance Insurance and
Financial Services Inc. 254,900 8,199,146 8187388
IGM Financial Inc. 276,108 10,323,323 11,660,041
Intact Financial Corp. 607,436 23,514,716 22,402,240
Killam Properties Inc. 142,100 1,148,544 1,236,270
Manulife Financial Corp. 3,966,579 90,534,604 76,554,975
Morguard Corp. 60,186 1,184,847 1,956,647
Morguard REIT 162,208 2,051,834 2,118,436
Morneau Sobeco Income Fund 210,500 1,952,898 2,065,005
National Bank of Canada 58,500 2,362,474 3,519,360
Power Corp. of Canada 585,200 13,432,988 17,041,024
Power Financial Corp. 1,099,200 24,603,153 34,064,208
Royal Bank of Canada 2,851,398 123,281,201 160,704,791
Sceptre Investment Counsel Ltd. 174,900 1,003,832 979,440
SCEF
(See accompanying notes)
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