Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	MICROSOFT CORP	234,031	$9.312M	2.7%	$26.94	+11.4%	COM	594918104
JPM	JPMORGAN CHASE & CO	146,871	$9.135M	2.7%	$37.01	+7.1%	COM	46625H100
RJF	RAYMOND JAMES FINANCIAL INC	160,500	$8.909M	2.6%	$24.09	+7.9%	COM	754730109
OPLN	KAR AUCTION SVCS INC	279,000	$8.769M	2.6%	$8.49	+27.8%	COM	48238T109
CCJ	CAMECO CORP	376,767	$8.304M	2.4%	$17.56	-3.6%	COM	13321L108
C	CITIGROUP INC	149,457	$8.284M	2.4%	$36.30	+3.7%	COM NEW	172967424
INTC	INTEL CORP	294,228	$8.122M	2.4%	$17.11	+4.7%	COM	458140100
NFG	NATIONAL FUEL GAS CO N J	105,400	$8.004M	2.4%	$60.82	+14.2%	COM	636180101
BAC	BANK OF AMERICA CORPORATION	470,640	$7.794M	2.3%	$10.22	+14.3%	COM	060505104
PFE	PFIZER INC	233,580	$7.61M	2.2%	$16.46	+7.1%	COM	717081103
AAPL	APPLE INC	12,500	$7.459M	2.2%	$13.45	+21.7%	COM	037833100
BK	BANK NEW YORK MELLON CORP	199,000	$7.395M	2.2%	$21.22	+14.5%	COM	064058100
—	GENERAL ELECTRIC CO	242,958	$7.243M	2.1%	$23.40	—	COM	369604103
MRK	MERCK & CO INC NEW	130,350	$6.939M	2.0%	$30.02	+4.2%	COM	58933Y105
—	SHAW COMMUNICATIONS INC	253,691	$6.558M	1.9%	$24.04	—	CL B CONV	82028K200
MGA	MAGNA INTL INC	72,546	$6.319M	1.9%	$22.60	+31.6%	COM	559222401
—	CST BRANDS INC	161,200	$6.296M	1.9%	$34.36	—	COM	12646R105
—	TD AMERITRADE HLDG CORP	183,800	$5.99M	1.8%	$24.65	—	COM	87236Y108
—	GOOGLE INC	4,865	$5.799M	1.7%	$878.93	—	CL A	38259P508
—	E TRADE FINANCIAL CORP	260,600	$5.444M	1.6%	$13.67	—	COM NEW	269246401
—	FORTRESS INVESTMENT GROUP LL	588,400	$5.357M	1.6%	$6.65	—	CL A	34958B106
—	LAZARD LTD	110,000	$5.302M	1.6%	$32.15	—	SHS A	G54050102
—	POTASH CORP SASK INC	141,269	$4.947M	1.5%	$37.72	—	COM	73755L107
CVE	CENOVUS ENERGY INC	161,718	$4.916M	1.4%	$22.41	+0.1%	COM	15135U109
—	TRANSCANADA CORP	92,709	$4.5M	1.3%	$43.30	—	COM	89353D107
EMR	EMERSON ELEC CO	60,000	$4.479M	1.3%	$40.02	+20.4%	COM	291011104
—	CARMIKE CINEMAS INC	149,000	$4.412M	1.3%	$19.75	—	COM	143436400
MCD	MCDONALDS CORP	42,400	$4.376M	1.3%	$71.75	-2.4%	COM	580135101
GLW	CORNING INC	229,000	$4.34M	1.3%	$10.57	+13.9%	COM	219350105
—	BROOKFIELD RESIDENTIAL PPTYS	146,654	$3.772M	1.1%	$22.62	—	COM	11283W104
CAT	CATERPILLAR INC DEL	38,815	$3.749M	1.1%	$62.58	+0.1%	COM	149123101
SIEGY	SIEMENS A G	25,000	$3.683M	1.1%	$131.25	—	SPONSORED ADR	826197501
KO	COCA COLA CO	80,100	$3.519M	1.0%	$27.57	-2.3%	COM	191216100
BRK/B	BERKSHIRE HATHAWAY INC DEL	27,632	$3.484M	1.0%	$110.02	+5.1%	CL B NEW	084670702
ATI	ALLEGHENY TECHNOLOGIES INC	90,000	$3.411M	1.0%	$27.61	+11.3%	COM	01741R102
—	GLAXOSMITHKLINE PLC	60,000	$3.407M	1.0%	$49.97	—	SPONSORED ADR	37733W105
BUD	ANHEUSER BUSCH INBEV SA/NV	30,000	$3.397M	1.0%	$90.25	—	SPONSORED ADR	03524A108
—	ADVANTAGE OIL & GAS LTD	667,730	$3.078M	0.9%	$3.95	—	COM	00765F101
—	ALTERA CORP	87,340	$3.02M	0.9%	$33.70	—	COM	021441100
—	UNITED TECHNOLOGIES CORP	24,400	$2.953M	0.9%	$92.95	—	COM	913017109
—	OCH ZIFF CAP MGMT GROUP	184,900	$2.911M	0.9%	$11.05	—	CL A	67551U105
AMAT	APPLIED MATLS INC	152,400	$2.866M	0.8%	$13.08	+13.6%	COM	038222105
BRK/A	BERKSHIRE HATHAWAY INC DEL	15	$2.838M	0.8%	$165587.56	+4.8%	CL A	084670108
F	FORD MTR CO DEL	170,200	$2.793M	0.8%	$7.61	+18.4%	COM PAR $0.01	345370860
GS	GOLDMAN SACHS GROUP INC	14,595	$2.752M	0.8%	$129.15	+1.2%	COM	38141G104
—	OAKTREE CAP GROUP LLC	40,700	$2.547M	0.7%	$52.55	—	UNIT CL A	674001201
WFC	WELLS FARGO & CO NEW	51,650	$2.494M	0.7%	$28.67	+7.3%	COM	949746101
POST	POST HLDGS INC	45,700	$2.395M	0.7%	$29.18	+0.9%	COM	737446104
WMT	WAL-MART STORES INC	28,535	$2.388M	0.7%	$19.98	+1.8%	COM	931142103
—	ENCANA CORP	123,230	$2.364M	0.7%	$16.92	—	COM	292505104
—	SPRINGLEAF HLDGS INC	85,000	$2.285M	0.7%	$26.88	—	COM	85172J101
—	RITE AID CORP	420,000	$2.26M	0.7%	$3.24	—	COM	767754104
QCOM	QUALCOMM INC	28,500	$2.251M	0.7%	$45.52	+10.6%	COM	747525103
—	THE ADT CORPORATION	50,800	$2.187M	0.6%	$41.54	—	COM	00101J106
GD	GENERAL DYNAMICS CORP	20,000	$2.033M	0.6%	$56.44	+21.7%	COM	369550108
KMB	KIMBERLY CLARK CORP	18,240	$2.027M	0.6%	$63.06	+5.2%	COM	494368103
—	NEW RESIDENTIAL INVT CORP	283,500	$2.014M	0.6%	$6.91	—	COM	64828T102
INTU	INTUIT	24,000	$1.948M	0.6%	$55.18	+17.8%	COM	461202103
CAE	CAE INC	140,000	$1.891M	0.6%	$9.68	+7.2%	COM	124765108
PG	PROCTER & GAMBLE CO	21,400	$1.853M	0.5%	$55.00	+5.5%	COM	742718109
TD	TORONTO DOMINION BK ONT	18,350	$1.837M	0.5%	$40.87	+11.3%	COM NEW	891160509
CSX	CSX CORP	60,000	$1.836M	0.5%	$6.66	+10.6%	COM	126408103
SCHW	SCHWAB CHARLES CORP NEW	65,000	$1.797M	0.5%	$15.92	+29.8%	COM	808513105
—	HOSPIRA INC	40,000	$1.756M	0.5%	$38.53	—	COM	441060100
MS	MORGAN STANLEY	50,000	$1.668M	0.5%	$21.80	0.0%	COM NEW	617446448
AIG	AMERICAN INTL GROUP INC	30,000	$1.629M	0.5%	$36.97	+2.4%	COM NEW	026874784
VECO	VEECO INSTRS INC DEL	44,300	$1.551M	0.5%	$37.14	-12.9%	COM	922417100
JNJ	JOHNSON & JOHNSON	15,835	$1.543M	0.5%	$59.66	+10.2%	COM	478160104
SU	SUNCOR ENERGY INC NEW	40,758	$1.518M	0.4%	$21.82	+6.3%	COM	867224107
CVS	CVS CAREMARK CORPORATION	19,700	$1.5M	0.4%	$41.44	+11.8%	COM	126650100
—	NORTH AMERN ENERGY PARTNERS	235,300	$1.459M	0.4%	$4.54	—	COM	656844107
—	WALGREEN CO	23,700	$1.448M	0.4%	$44.20	—	COM	931422109
SPY	SPDR S&P 500 ETF TR	7,304	$1.435M	0.4%	$160.05	—	TR UNIT	78462F103
—	ENERPLUS CORP	73,394	$1.417M	0.4%	$16.39	—	COM	292766102
—	CVR REFNG LP	55,000	$1.323M	0.4%	$28.20	—	COMUNIT REP LT	12663P107
—	MASONITE INTL CORP NEW	20,600	$1.315M	0.4%	$63.83	—	COM	575385109
A	AGILENT TECHNOLOGIES INC	21,500	$1.308M	0.4%	$32.36	+6.3%	COM	00846U101
CNK	CINEMARK HOLDINGS INC	34,000	$1.205M	0.4%	$23.13	+13.7%	COM	17243V102
TBF	PROSHARES TR	34,270	$1.2M	0.4%	$31.37	—	SHRT 20+YR TRE	74347X849
TM	TOYOTA MOTOR CORP	9,000	$1.167M	0.3%	$120.67	—	SP ADR REP2COM	892331307
DRI	DARDEN RESTAURANTS INC	20,000	$1.157M	0.3%	$32.08	0.0%	COM	237194105
HEI	HEICO CORP NEW	17,500	$1.079M	0.3%	$20.93	+34.5%	COM	422806109
—	PHH CORP	40,000	$1.036M	0.3%	$25.90	—	COM NEW	693320202
CNQ	CANADIAN NAT RES LTD	27,070	$973K	0.3%	$8.77	+9.3%	COM	136385101
—	PINNACLE ENTMT INC	35,000	$968K	0.3%	$25.79	—	COM	723456109
IRBTQ	IROBOT CORP	24,600	$910K	0.3%	$31.70	+7.5%	COM	462726100
TEVA	TEVA PHARMACEUTICAL INDS LTD	20,900	$891K	0.3%	$39.19	—	ADR	881624209
META	FACEBOOK INC	15,200	$883K	0.3%	$28.80	+73.1%	CL A	30303M102
RY	ROYAL BK CDA MONTREAL QUE	12,100	$864K	0.3%	$61.32	+8.1%	COM	780087102
—	ARCTIC CAT INC	14,000	$848K	0.2%	$46.11	—	COM	039670104
PEP	PEPSICO INC	9,425	$831K	0.2%	$56.00	+3.1%	COM	713448108
—	GRAN TIERRA ENERGY INC	105,000	$816K	0.2%	$6.01	—	COM	38500T101
CLH	CLEAN HARBORS INC	12,600	$804K	0.2%	$56.64	+1.8%	COM	184496107
—	E M C CORP MASS	29,900	$800K	0.2%	$24.53	—	COM	268648102
—	FIRSTSERVICE CORP	17,000	$778K	0.2%	$31.37	—	SUB VTG SH	33761N109
—	COTT CORP QUE	90,000	$770K	0.2%	$8.56	—	COM	22163N106
—	BROOKFIELD PPTY PARTNERS L P	35,387	$752K	0.2%	$21.25	—	UNIT LTD PARTN	G16249107
IBM	INTERNATIONAL BUSINESS MACHS	3,498	$698K	0.2%	$118.40	-10.1%	COM	459200101
—	OPENTABLE INC	8,005	$676K	0.2%	$63.96	—	COM	68372A104
—	ARCELORMITTAL SA LUXEMBOURG	35,000	$664K	0.2%	$18.97	—	NY REGISTRY SH	03938L104
—	COMPUWARE CORP	53,000	$632K	0.2%	$11.19	—	COM	205638109
MFC	MANULIFE FINL CORP	29,610	$621K	0.2%	$15.82	+15.6%	COM	56501R106
—	SELECT COMFORT CORP	27,000	$606K	0.2%	$24.85	—	COM	81616X103
DE	DEERE & CO	6,040	$587K	0.2%	$67.80	-0.5%	COM	244199105
—	LEGG MASON INC	12,500	$578K	0.2%	$35.27	—	COM	524901105
MMM	3M CO	3,600	$537K	0.2%	$61.26	+18.6%	COM	88579Y101
BNS	BANK N S HALIFAX	7,862	$522K	0.2%	$30.50	+8.5%	COM	064149107
BCE	BCE INC	11,134	$512K	0.2%	$21.24	+2.0%	COM NEW	05534B760
—	CREDIT SUISSE GROUP	15,000	$495K	0.1%	$28.60	—	SPONSORED ADR	225401108
—	PROCERA NETWORKS INC	30,000	$479K	0.1%	$13.79	—	COM NEW	74269U203
—	GREENHILL & CO INC	7,500	$462K	0.1%	$61.60	—	COM	395259104
RCI	ROGERS COMMUNICATIONS INC	8,927	$429K	0.1%	$46.42	-4.1%	CL B	775109200
—	CIT GROUP INC	7,500	$416K	0.1%	$55.47	—	COM NEW	125581801
XOM	EXXON MOBIL CORP	3,750	$404K	0.1%	$53.69	+4.2%	COM	30231G102
ADP	AUTOMATIC DATA PROCESSING IN	4,400	$378K	0.1%	$45.09	+14.1%	COM	053015103
EBAY	EBAY INC	6,400	$373K	0.1%	$19.70	0.0%	COM	278642103
—	APOLLO GLOBAL MGMT LLC	10,800	$363K	0.1%	$24.80	—	CL A SHS	037612306
CM	CDN IMPERIAL BK OF COMMERCE	3,991	$362K	0.1%	$20.94	+11.4%	COM	136069101
NUE	NUCOR CORP	6,365	$361K	0.1%	$32.41	+18.2%	COM	670346105
BMO	BANK MONTREAL QUE	5,023	$356K	0.1%	$37.97	+9.6%	COM	063671101
ENB	ENBRIDGE INC	7,448	$346K	0.1%	$22.88	-3.5%	COM	29250N105
PBA	PEMBINA PIPELINE CORP	9,170	$343K	0.1%	$16.75	+4.9%	COM	706327103
—	BLACKSTONE GROUP L P	10,000	$335K	0.1%	$21.10	—	COM UNIT LTD	09253U108
EVR	EVERCORE PARTNERS INC	5,000	$318K	0.1%	$35.23	+16.2%	CLASS A	29977A105
MBI	MBIA INC	25,000	$317K	0.1%	$5.30	-5.1%	COM	55262C100
ABBV	ABBVIE INC	5,630	$316K	0.1%	$26.55	+14.5%	COM	00287Y109
—	PENGROWTH ENERGY CORP	47,700	$313K	0.1%	$5.89	—	COM	70706P104
—	KKR & CO L P DEL	12,000	$311K	0.1%	$19.85	—	COM UNITS	48248M102
—	NEWCASTLE INVT CORP	50,000	$305K	0.1%	$5.24	—	COM	65105M108
—	BARRICK GOLD CORP	15,100	$283K	0.1%	$15.76	—	COM	067901108
—	CELESTICA INC	25,128	$277K	0.1%	$11.02	—	SUB VTG SHS	15101Q108
MDLZ	MONDELEZ INTL INC	7,200	$270K	0.1%	$23.16	+10.2%	CL A	609207105
—	BLACKHAWK NETWORK HLDGS INC	10,000	$269K	0.1%	$24.00	—	CL A	09238E104
HBAN	HUNTINGTON BANCSHARES INC	25,700	$264K	0.1%	$5.28	+7.5%	COM	446150104
SF	STIFEL FINL CORP	5,000	$255K	0.1%	$23.19	+9.9%	COM	860630102
VGK	VANGUARD INTL EQUITY INDEX F	4,060	$254K	0.1%	$54.43	—	FTSE EUROPE ETF	922042874
BIP	BROOKFIELD INFRAST PARTNERS	6,000	$250K	0.1%	$36.50	—	LP INT UNIT	G16252101
CSCO	CISCO SYS INC	10,300	$246K	0.1%	$15.20	0.0%	COM	17275R102
ABT	ABBOTT LABS	5,630	$230K	0.1%	$29.23	0.0%	COM	002824100
BCS	BARCLAYS PLC	10,000	$193K	0.1%	$17.00	—	ADR	06738E204
—	KKR FINL HLDGS LLC	10,000	$130K	0.0%	$13.00	—	COM	48248A306
—	ROYAL BK SCOTLAND GROUP PLC	10,000	$121K	0.0%	$11.60	—	SPONS ADR 20 ORD	780097689
—	NUVEEN QUALITY PFD INCOME FD	12,000	$104K	0.0%	$8.67	—	COM	67072C105
—	ENTROPIC COMMUNICATIONS INC	13,000	$65,000	0.0%	$4.38	—	COM	29384R105
URG	UR ENERGY INC	25,000	$36,000	0.0%	$0.96	+18.0%	COM	91688R108