Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
OPLN	KAR AUCTION SVCS INC	274,000	$7.73M	2.8%	$8.45	+18.0%	COM	48238T109
MGA	MAGNA INTL INC	92,296	$7.623M	2.8%	$22.60	+24.2%	COM	559222401
NFG	NATIONAL FUEL GAS CO N J	106,362	$7.313M	2.7%	$60.82	+6.9%	COM	636180101
MSFT	MICROSOFT CORP	218,831	$7.283M	2.7%	$26.72	+1.0%	COM	594918104
INTC	INTEL CORP	316,028	$7.244M	2.6%	$17.11	-1.2%	COM	458140100
PFE	PFIZER INC	234,980	$6.746M	2.5%	$16.46	-0.6%	COM	717081103
CCJ	CAMECO CORP	369,300	$6.671M	2.4%	$17.57	-0.9%	COM	13321L108
RJF	RAYMOND JAMES FINANCIAL INC	159,600	$6.651M	2.4%	$24.09	+0.2%	COM	754730109
BK	BANK NEW YORK MELLON CORP	213,900	$6.458M	2.4%	$21.22	+7.3%	COM	064058100
MRK	MERCK & CO INC NEW	130,050	$6.192M	2.3%	$30.02	+3.2%	COM	58933Y105
JPM	JPMORGAN CHASE & CO	115,833	$5.987M	2.2%	$36.31	+6.1%	COM	46625H100
—	SHAW COMMUNICATIONS INC	248,041	$5.769M	2.1%	$24.00	—	CL B CONV	82028K200
BAC	BANK OF AMERICA CORPORATION	414,940	$5.726M	2.1%	$10.03	+12.0%	COM	060505104
—	GENERAL ELECTRIC CO	235,322	$5.622M	2.0%	$23.19	—	COM	369604103
AAPL	APPLE INC	11,365	$5.418M	2.0%	$13.16	+8.5%	COM	037833100
—	GOOGLE INC	6,165	$5.4M	2.0%	$878.93	—	CL A	38259P508
C	CITIGROUP INC	106,957	$5.188M	1.9%	$35.76	+5.2%	COM NEW	172967424
F	FORD MTR CO DEL	306,700	$5.174M	1.9%	$7.61	+18.6%	COM PAR $0.01	345370860
CVE	CENOVUS ENERGY INC	161,980	$4.841M	1.8%	$22.41	+0.9%	COM	15135U109
—	TD AMERITRADE HLDG CORP	175,900	$4.605M	1.7%	$24.29	—	COM	87236Y108
—	FORTRESS INVESTMENT GROUP LL	566,900	$4.501M	1.6%	$6.56	—	CL A	34958B106
—	POTASH CORP SASK INC	143,241	$4.486M	1.6%	$37.72	—	COM	73755L107
MCD	MCDONALDS CORP	41,300	$3.973M	1.4%	$71.80	-1.7%	COM	580135101
BUD	ANHEUSER BUSCH INBEV SA/NV	40,000	$3.968M	1.4%	$90.25	—	SPONSORED ADR	03524A108
—	LAZARD LTD	110,000	$3.962M	1.4%	$32.15	—	SHS A	G54050102
—	TRANSCANADA CORP	89,698	$3.946M	1.4%	$43.12	—	COM	89353D107
EMR	EMERSON ELEC CO	60,000	$3.882M	1.4%	$40.02	+9.5%	COM	291011104
—	E TRADE FINANCIAL CORP	228,600	$3.772M	1.4%	$12.66	—	COM NEW	269246401
META	FACEBOOK INC	72,000	$3.617M	1.3%	$28.80	+28.3%	CL A	30303M102
—	CARMIKE CINEMAS INC	152,000	$3.356M	1.2%	$19.75	—	COM	143436400
GLW	CORNING INC	229,000	$3.341M	1.2%	$10.57	+1.6%	COM	219350105
—	ADVANTAGE OIL & GAS LTD	865,580	$3.333M	1.2%	$3.95	—	COM	00765F101
BRK/B	BERKSHIRE HATHAWAY INC DEL	27,632	$3.137M	1.1%	$110.02	+4.9%	CL B NEW	084670702
—	GLAXOSMITHKLINE PLC	60,000	$3.01M	1.1%	$49.97	—	SPONSORED ADR	37733W105
—	BROOKFIELD RESIDENTIAL PPTYS	129,654	$3.007M	1.1%	$22.21	—	COM	11283W104
—	CST BRANDS INC	91,000	$2.712M	1.0%	$30.73	—	COM	12646R105
AMAT	APPLIED MATLS INC	152,400	$2.672M	1.0%	$13.08	+3.5%	COM	038222105
—	UNITED TECHNOLOGIES CORP	24,400	$2.631M	1.0%	$92.95	—	COM	913017109
—	OAKTREE CAP GROUP LLC	49,900	$2.612M	1.0%	$52.55	—	UNIT 99/99/9999	674001201
—	ENCANA CORP	144,180	$2.495M	0.9%	$16.92	—	COM	292505104
BRK/A	BERKSHIRE HATHAWAY INC DEL	14	$2.386M	0.9%	$165023.42	+4.8%	CL A	084670108
—	RITE AID CORP	500,000	$2.38M	0.9%	$3.24	—	COM	767754104
PEP	PEPSICO INC	29,300	$2.329M	0.8%	$56.00	+1.4%	COM	713448108
WMT	WAL-MART STORES INC	28,535	$2.11M	0.8%	$19.98	-1.0%	COM	931142103
KO	COCA COLA CO	55,100	$2.087M	0.8%	$27.85	-3.9%	COM	191216100
TD	TORONTO DOMINION BK ONT	20,609	$1.858M	0.7%	$40.87	+4.0%	COM NEW	891160509
ATI	ALLEGHENY TECHNOLOGIES INC	60,000	$1.831M	0.7%	$26.04	+0.0%	COM	01741R102
—	OCH ZIFF CAP MGMT GROUP	164,700	$1.81M	0.7%	$10.47	—	CL A	67551U105
SIEGY	SIEMENS A G	15,000	$1.808M	0.7%	$120.53	—	SPONSORED ADR	826197501
—	ALTERA CORP	48,240	$1.793M	0.7%	$32.99	—	COM	021441100
QCOM	QUALCOMM INC	26,000	$1.75M	0.6%	$45.06	+3.3%	COM	747525103
GD	GENERAL DYNAMICS CORP	20,000	$1.75M	0.6%	$56.44	+15.0%	COM	369550108
KMB	KIMBERLY CLARK CORP	18,240	$1.719M	0.6%	$63.06	-3.1%	COM	494368103
PG	PROCTER & GAMBLE CO	21,400	$1.618M	0.6%	$55.00	+2.2%	COM	742718109
VECO	VEECO INSTRS INC DEL	43,300	$1.612M	0.6%	$37.25	-6.1%	COM	922417100
SU	SUNCOR ENERGY INC NEW	43,897	$1.572M	0.6%	$21.82	0.0%	COM	867224107
—	HOSPIRA INC	40,000	$1.569M	0.6%	$38.53	—	COM	441060100
CSX	CSX CORP	60,000	$1.544M	0.6%	$6.66	+3.0%	COM	126408103
INTU	INTUIT	22,200	$1.472M	0.5%	$54.39	+6.9%	COM	461202103
—	GRANITE REAL ESTATE INVT TR	40,500	$1.455M	0.5%	$34.48	—	UNIT 99/99/9999	387437114
—	SEARS HOMETOWN & OUTLET STOR	43,650	$1.386M	0.5%	$43.71	—	COM	812362101
SCHW	SCHWAB CHARLES CORP NEW	65,000	$1.374M	0.5%	$15.92	+18.0%	COM	808513105
JNJ	JOHNSON & JOHNSON	15,835	$1.373M	0.5%	$59.66	+6.5%	COM	478160104
—	CVR REFNG LP	55,000	$1.372M	0.5%	$28.20	—	COMUNIT REP LT	12663P107
WFC	WELLS FARGO & CO NEW	31,850	$1.316M	0.5%	$27.36	+10.3%	COM	949746101
—	THE ADT CORPORATION	32,000	$1.301M	0.5%	$40.66	—	COM	00101J106
—	WALGREEN CO	23,650	$1.272M	0.5%	$44.20	—	COM	931422109
—	NORTH AMERN ENERGY PARTNERS	227,800	$1.24M	0.5%	$4.49	—	COM	656844107
SPY	SPDR S&P 500 ETF TR	7,304	$1.228M	0.4%	$160.05	—	TR UNIT	78462F103
POST	POST HLDGS INC	30,000	$1.211M	0.4%	$29.05	+0.5%	COM	737446104
TM	TOYOTA MOTOR CORP	9,000	$1.152M	0.4%	$120.67	—	SP ADR REP2COM	892331307
CVS	CVS CAREMARK CORPORATION	19,700	$1.118M	0.4%	$41.44	+3.2%	COM	126650100
TBF	PROSHARES TR	34,270	$1.098M	0.4%	$31.37	—	SHRT 20+YR TRE	74347X849
CAE	CAE INC	100,000	$1.097M	0.4%	$9.40	+5.5%	COM	124765108
CNK	CINEMARK HOLDINGS INC	34,000	$1.079M	0.4%	$23.13	+3.6%	COM	17243V102
—	NEW RESIDENTIAL INVT CORP	150,000	$993K	0.4%	$6.74	—	COM	64828T102
HEI	HEICO CORP NEW	14,000	$948K	0.3%	$19.13	+28.2%	COM	422806109
—	CREE INC	14,000	$843K	0.3%	$60.21	—	COM	225447101
CNQ	CANADIAN NAT RES LTD	26,600	$837K	0.3%	$8.76	+5.2%	COM	136385101
TEVA	TEVA PHARMACEUTICAL INDS LTD	20,900	$790K	0.3%	$39.19	—	ADR	881624209
IMAX	IMAX CORP	26,000	$785K	0.3%	$26.76	+0.5%	COM	45245E109
—	ENERPLUS CORP	47,381	$785K	0.3%	$14.78	—	COM	292766102
IRBTQ	IROBOT CORP	20,600	$775K	0.3%	$31.24	+14.7%	COM	462726100
—	GRAN TIERRA ENERGY INC	105,000	$744K	0.3%	$6.01	—	COM	38500T101
—	ARCTIC CAT INC	13,000	$742K	0.3%	$45.00	—	COM	039670104
RY	ROYAL BK CDA MONTREAL QUE	11,476	$736K	0.3%	$61.05	+1.7%	COM	780087102
—	FIRSTSERVICE CORP	18,000	$699K	0.3%	$31.37	—	SUB VTG SH	33761N109
—	MATTRESS FIRM HLDG CORP	20,000	$636K	0.2%	$31.80	—	COM	57722W106
—	PINNACLE ENTMT INC	25,000	$626K	0.2%	$25.04	—	COM	723456109
IBM	INTERNATIONAL BUSINESS MACHS	3,348	$620K	0.2%	$118.94	-6.2%	COM	459200101
—	SELECT COMFORT CORP	25,000	$609K	0.2%	$25.04	—	COM	81616X103
—	M D C HLDGS INC	20,000	$600K	0.2%	$30.00	—	COM	552676108
—	COMPUWARE CORP	53,000	$593K	0.2%	$11.19	—	COM	205638109
A	AGILENT TECHNOLOGIES INC	11,000	$564K	0.2%	$30.43	0.0%	COM	00846U101
—	OPENTABLE INC	8,005	$560K	0.2%	$63.96	—	COM	68372A104
—	E M C CORP MASS	21,200	$542K	0.2%	$23.62	—	COM	268648102
—	TUCOWS INC	224,508	$537K	0.2%	$2.39	—	COM	898697107
—	WEIGHT WATCHERS INTL INC NEW	14,000	$523K	0.2%	$37.36	—	COM	948626106
—	PROCERA NETWORKS INC	33,700	$522K	0.2%	$13.79	—	COM NEW	74269U203
BMO	BANK MONTREAL QUE	6,965	$466K	0.2%	$37.97	0.0%	COM	063671101
BNS	BANK N S HALIFAX	8,018	$460K	0.2%	$30.50	0.0%	COM	064149107
MMM	3M CO	3,600	$430K	0.2%	$61.26	+7.7%	COM	88579Y101
MFC	MANULIFE FINL CORP	24,731	$410K	0.1%	$15.34	+11.3%	COM	56501R106
CM	CDN IMPERIAL BK OF COMMERCE	4,932	$394K	0.1%	$20.94	0.0%	COM	136069101
CLH	CLEAN HARBORS INC	6,700	$393K	0.1%	$55.74	+0.1%	COM	184496107
GS	GOLDMAN SACHS GROUP INC	2,095	$331K	0.1%	$120.06	+5.9%	COM	38141G104
TOL	TOLL BROTHERS INC	10,000	$324K	0.1%	$32.34	0.0%	COM	889478103
XOM	EXXON MOBIL CORP	3,750	$323K	0.1%	$53.69	+0.9%	COM	30231G102
BC	BRUNSWICK CORP	8,000	$319K	0.1%	$26.84	+13.8%	COM	117043109
ADP	AUTOMATIC DATA PROCESSING IN	4,400	$318K	0.1%	$45.09	+7.2%	COM	053015103
NUE	NUCOR CORP	6,365	$312K	0.1%	$32.41	+6.6%	COM	670346105
—	CREDIT SUISSE GROUP	10,121	$309K	0.1%	$26.48	—	SPONSORED ADR	225401108
—	PENGROWTH ENERGY CORP	52,100	$307K	0.1%	$5.89	—	COM	70706P104
—	LEGG MASON INC	9,000	$301K	0.1%	$31.00	—	COM	524901105
DE	DEERE & CO	3,500	$285K	0.1%	$68.04	-3.1%	COM	244199105
—	APOLLO GLOBAL MGMT LLC	10,000	$283K	0.1%	$24.10	—	CL A SHS	037612306
—	BARRICK GOLD CORP	15,100	$282K	0.1%	$15.76	—	COM	067901108
—	NEWCASTLE INVT CORP	50,000	$281K	0.1%	$5.24	—	COM	65105M108
ENB	ENBRIDGE INC	6,598	$276K	0.1%	$22.98	-3.7%	COM	29250N105
PBA	PEMBINA PIPELINE CORP	8,210	$273K	0.1%	$16.65	-0.4%	COM	706327103
RCI	ROGERS COMMUNICATIONS INC	5,897	$254K	0.1%	$47.39	-14.2%	CL B	775109200
ABBV	ABBVIE INC	5,630	$252K	0.1%	$26.55	+2.3%	COM	00287Y109
CAT	CATERPILLAR INC DEL	3,000	$250K	0.1%	$61.55	+0.1%	COM	149123101
—	BLACKSTONE GROUP L P	10,000	$249K	0.1%	$21.10	—	COM UNIT LTD	09253U108
—	KKR & CO L P DEL	12,000	$247K	0.1%	$19.85	—	COM UNITS	48248M102
EVR	EVERCORE PARTNERS INC	5,000	$246K	0.1%	$35.23	0.0%	CLASS A	29977A105
AIG	AMERICAN INTL GROUP INC	5,000	$243K	0.1%	$32.51	+10.8%	COM NEW	026874784
—	BLACKHAWK NETWORK HLDGS INC	10,000	$240K	0.1%	$24.00	—	CL A	09238E104
BIP	BROOKFIELD INFRAST PARTNERS	6,000	$229K	0.1%	$36.50	—	LP INT UNIT	G16252101
MDLZ	MONDELEZ INTL INC	7,200	$226K	0.1%	$23.16	+2.4%	CL A	609207105
VGK	VANGUARD INTL EQUITY INDEX F	4,060	$221K	0.1%	$54.43	—	FTSE EUROPE ETF	922042874
BCE	BCE INC	4,872	$209K	0.1%	$20.69	0.0%	COM NEW	05534B760
SF	STIFEL FINL CORP	5,000	$206K	0.1%	$23.19	0.0%	COM	860630102
BCS	BARCLAYS PLC	10,000	$170K	0.1%	$17.00	—	ADR	06738E204
MBI	MBIA INC	15,000	$153K	0.1%	$5.48	+0.2%	COM	55262C100
—	ROYAL BK SCOTLAND GROUP PLC	10,000	$116K	0.0%	$11.60	—	SPONS ADR 20 ORD	780097689
—	ZYNGA INC	29,000	$106K	0.0%	$2.78	—	CL A	98986T108
HBAN	HUNTINGTON BANCSHARES INC	10,000	$83,000	0.0%	$4.66	+14.0%	COM	446150104
—	ENTROPIC COMMUNICATIONS INC	13,000	$57,000	0.0%	$4.38	—	COM	29384R105
URG	UR ENERGY INC	25,000	$29,000	0.0%	$0.96	+19.0%	COM	91688R108