UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G
                    Under the Securities Exchange Act of 1934
                              (Amendment No.    )*

                              Avid Technology, Inc.
                                (Name of Issuer)

                                  Common Shares
                         (Title of Class of Securities)

                                    05367P100
                                 (CUSIP Number)

                                November 30, 2005
             (Date of Event Which Requires Filing of this Statement)

Check the  appropriate box to designate the rule pursuant to which this Schedule
is filed:

       [ ]  Rule 13d-1(b)
       [X]  Rule 13d-1(c)
       [ ]  Rule 13d-1(d)

*The  remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for  any  subsequent   amendment   containing   information  which  would  alter
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise  subject to the liabilities of that section of the Act
but  shall be  subject  to all other  provisions  of the Act  (however,  see the
Notes).

(1)    Names of Reporting Persons
       I.R.S. Identification Nos. of Above Persons (Entities Only)


         Bluewater  Investment  Management  Inc.
--------------------------------------------------------------------------------
(2)    Check the Appropriate Box if a Member of a Group

       (a)        [ ]
       (b)        [X]

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(3)    SEC Use Only


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(4)    Citizenship or Place of Organization

          Toronto,  Ontario,  Canada
--------------------------------------------------------------------------------


<PAGE>

Number of                  (5)      Sole Voting Power
Shares                              2,005,602
Benefici-                  (6)      Shared Voting Power
ally Owned                          Nil
by Each                    (7)      Sole Dispositive Power
Reporting                           2,005,602
Person With                (8)      Shared Dispositive Power
                                    Nil
                           -------------------------------------------
(9)    Aggregate Amount Beneficially Owned by Each Reporting Person

                                    2,005,602
--------------------------------------------------------------------------------

(10)   Check if the Aggregate Amount in Row (9) Excludes
       Certain Shares                                        [  ]

----------------------------------------------------------------------
(11)   Percent of Class Represented by Amount in Row 9

                                    4.81%
----------------------------------------------------------------------
(12)   Type of Reporting Person
                                    CO
--------------------------------------------------------------------------------


<PAGE>

                                    Item 1(a)

Name of Issuer:            Avid Technology, Inc.




                                    Item 1(b)

Address of Issuer's Principal Executive Offices:
                           Avid Technology Park
                           One Park West
                           Tewksbury, MA     01876
                           U.S.A.


                                    Item 2(a)

Name of Person Filing:
                           Bluewater  Investment  Management  Inc.


                                    Item 2(b)

Address of Principal Business Office:

                           Suite  1502,  Box  63
                           150  King  Street  West
                           Toronto,  Ontario
                           Canada
                           M5H  1J9




                                    Item 2(c)

Citizenship:
                           Organized  in  Toronto,  Ontario,  Canada





                                    Item 2(d)

Title of Class of Securities:
                            Common  Stock



<PAGE>

                                    Item 2(e)

CUSIP Number:

                             05367P100
--------------------------------------------------------------------------------

                                     Item 3

If this  statement is filed pursuant to Rules 13d-1(b) or 13d-2(b) or (c), check
whether the person filing is a:

    (a)   [  ]     Broker or Dealer registered under Section 15 of the Act


    (b)   [  ]     Bank as defined in section 3(a) (6) of the Act

    (c)   [  ]     Insurance Company as defined in section 3(a)(19) of the 
                   Act

    (d)   [  ]     Investment Company registered under section 8 of the 
                   Investment Company Act

    (e)   [X]      An investment adviser in accordance with Rule 13d-1(b)(1)
                   (ii)(E)

    (f)   [  ]     An employee benefit plan or endowment fund in accordance 
                   with Rule 13d-1(b)(1)(ii)(F)

    (g)   [  ]     A parent holding company or control person in accordance 
                   with Rule 13d-1(b)(1)(ii)(G)

    (h)   [  ]     A savings association as defined in Section 3(b) of the
                   Federal Deposit Insurance Act

    (i)   [  ]     A church plan that is excluded from the definition of an
                   investment company under Section 3(c)(14) of the
                   Investment Company Act

    (j)   [  ]     Group, in accordance with Rule 13d-1(b)(1)(ii)(J)

    If this statement is filed pursuant to Rule 13d-1(c), check this box.   [  ]


                                     Item 4

Ownership.

    (a)  Amount Beneficially Owned:

         2,005,602

    (b)  Percent of Class:

         4.81%



<PAGE>

    (c)  Number of shares as to which such person has:

         (i)    Sole power to vote or to direct the vote:              2,005,602
         (ii)   Shared power to vote or to direct the vote:                  Nil
         (iii)  Sole power to dispose or to direct the disposition of: 2,005,602
         (iv)   Shared power to dispose or to direct the disposition of:     Nil





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                                     Item 5

Ownership of Five Percent or Less of a Class


"This  statement  is being filed to report the fact that as of the date  hereof,
the reporting  person has ceased to be the  beneficial  owner of five percent of
the class of securities."

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                                     Item 6

Ownership of More than Five Percent on Behalf of Another Person

                           N/A
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                                     Item 7

Identification  and Classification of the Subsidiary which Acquired the Security
Being Reported on By the Parent Holding Company.



                            N/A
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                                     Item 8

Identification and Classification of Members of the Group.



                            N/A
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                                     Item 9

Notice of Dissolution of Group.



                            N/A
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<PAGE>



                                     Item 10

Certification.

(a)      The following certification shall be included if the statement is filed
         pursuant to 240.13d-1(b):

         By  signing  below I  certify  that,  to the best of my  knowledge  and
         belief, the securities  referred to above were acquired and are held in
         the ordinary  course of business and were not acquired and are not held
         for the purpose of or with the effect of changing  or  influencing  the
         control of the issuer of the  securities  and were not acquired and are
         not held in  connection  with or as a  participant  in any  transaction
         having that purpose or effect.

(b)      The following certification shall be included if the statement is filed
         pursuant to 240.13d-1(c):

         By  signing  below I  certify  that,  to the best of my  knowledge  and
         belief, the securities  referred to above were not acquired and are not
         held for the purpose of or with the effect of  changing or  influencing
         the control of the issuer of the  securities  and were not acquired and
         are not held in connection  with or as a participant in any transaction
         having that purpose or effect.

Signature.

       After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete
and correct.

Date:              December 12,  2005


Signature:         /s/ Dina DeGeer
                   -------------------------------------

Name/Title:        Dina  DeGeer




                   Attention:  Intentional misstatements or omissions of fact
                   constitute Federal criminal violations (See 18 U.S.C. 1001).