Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CCJ	CAMECO CORP	424,200	$9.673M	2.9%	$17.78	+9.8%	COM	13321L108
INTC	INTEL CORP	351,458	$9.034M	2.7%	$17.37	+7.5%	COM	458140100
MSFT	MICROSOFT CORP	214,131	$8.74M	2.6%	$26.94	+16.1%	COM	594918104
—	GENERAL ELECTRIC CO	337,258	$8.695M	2.6%	$24.06	—	COM	369604103
JPM	JPMORGAN CHASE & CO	134,473	$8.129M	2.4%	$37.01	+13.7%	COM	46625H100
C	CITIGROUP INC	169,357	$8.027M	2.4%	$36.39	+1.9%	COM NEW	172967424
BAC	BANK OF AMERICA CORPORATION	444,890	$7.62M	2.3%	$10.22	+29.7%	COM	060505104
PFE	PFIZER INC	233,580	$7.471M	2.2%	$16.46	+10.6%	COM	717081103
NFG	NATIONAL FUEL GAS CO N J	106,700	$7.442M	2.2%	$60.97	+20.0%	COM	636180101
MRK	MERCK & CO INC NEW	130,050	$7.352M	2.2%	$30.02	+19.1%	COM	58933Y105
AAPL	APPLE INC	13,685	$7.314M	2.2%	$13.72	+20.8%	COM	037833100
—	ENCANA CORP	337,630	$7.181M	2.1%	$19.68	—	COM	292505104
RJF	RAYMOND JAMES FINANCIAL INC	126,250	$7.031M	2.1%	$24.09	+22.0%	COM	754730109
BK	BANK NEW YORK MELLON CORP	199,300	$7.004M	2.1%	$21.22	+16.7%	COM	064058100
MGA	MAGNA INTL INC	72,304	$6.923M	2.1%	$22.60	+41.8%	COM	559222401
—	SHAW COMMUNICATIONS INC	253,321	$6.025M	1.8%	$24.04	—	CL B CONV	82028K200
—	LAZARD LTD	110,000	$5.158M	1.5%	$32.15	—	SHS A	G54050102
—	POTASH CORP SASK INC	141,841	$5.11M	1.5%	$37.72	—	COM	73755L107
OPLN	KAR AUCTION SVCS INC	165,000	$4.987M	1.5%	$8.49	+32.0%	COM	48238T109
—	GOOGLE INC	4,365	$4.844M	1.4%	$878.93	—	CL A	38259P508
GLW	CORNING INC	229,000	$4.748M	1.4%	$10.57	+30.7%	COM	219350105
CVE	CENOVUS ENERGY INC	161,580	$4.654M	1.4%	$22.41	-7.4%	COM	15135U109
CAT	CATERPILLAR INC DEL	46,815	$4.632M	1.4%	$63.80	+9.2%	COM	149123101
—	FORTRESS INVESTMENT GROUP LL	615,900	$4.538M	1.3%	$6.68	—	CL A	34958B106
MCD	MCDONALDS CORP	45,565	$4.448M	1.3%	$71.65	-1.9%	COM	580135101
—	E TRADE FINANCIAL CORP	192,500	$4.413M	1.3%	$13.67	—	COM NEW	269246401
—	TD AMERITRADE HLDG CORP	126,900	$4.29M	1.3%	$24.65	—	COM	87236Y108
—	TRANSCANADA CORP	92,285	$4.178M	1.2%	$43.30	—	COM	89353D107
PG	PROCTER & GAMBLE CO	51,400	$4.125M	1.2%	$55.88	+1.1%	COM	742718109
—	INTERNATIONAL GAME TECHNOLOG	243,700	$3.412M	1.0%	$14.00	—	COM	459902102
GS	GOLDMAN SACHS GROUP INC	20,745	$3.385M	1.0%	$130.50	+2.5%	COM	38141G104
ATI	ALLEGHENY TECHNOLOGIES INC	90,000	$3.377M	1.0%	$27.61	+14.5%	COM	01741R102
SIEGY	SIEMENS A G	25,000	$3.364M	1.0%	$131.25	—	SPONSORED ADR	826197501
—	CST BRANDS INC	107,700	$3.35M	1.0%	$34.36	—	COM	12646R105
—	CARMIKE CINEMAS INC	112,000	$3.33M	1.0%	$19.75	—	COM	143436400
EMR	EMERSON ELEC CO	50,000	$3.326M	1.0%	$40.02	+19.4%	COM	291011104
BRK/B	BERKSHIRE HATHAWAY INC DEL	26,082	$3.246M	1.0%	$110.02	+6.2%	CL B NEW	084670702
KO	COCA COLA CO	83,800	$3.226M	1.0%	$27.53	-3.5%	COM	191216100
—	GLAXOSMITHKLINE PLC	60,000	$3.192M	0.9%	$49.97	—	SPONSORED ADR	37733W105
AMAT	APPLIED MATLS INC	156,900	$3.19M	0.9%	$13.15	+19.8%	COM	038222105
—	BROOKFIELD RESIDENTIAL PPTYS	143,450	$3M	0.9%	$22.62	—	COM	11283W104
—	UNITED TECHNOLOGIES CORP	24,400	$2.839M	0.8%	$92.95	—	COM	913017109
BRK/A	BERKSHIRE HATHAWAY INC DEL	15	$2.798M	0.8%	$165587.56	+6.0%	CL A	084670108
SPY	SPDR S&P 500 ETF TR	14,304	$2.664M	0.8%	$172.87	—	TR UNIT	78462F103
—	RITE AID CORP	410,000	$2.56M	0.8%	$3.24	—	COM	767754104
WFC	WELLS FARGO & CO NEW	51,650	$2.558M	0.8%	$28.67	+16.6%	COM	949746101
POST	POST HLDGS INC	45,300	$2.486M	0.7%	$29.18	+23.0%	COM	737446104
—	OCH ZIFF CAP MGMT GROUP	180,950	$2.481M	0.7%	$11.05	—	CL A	67551U105
—	OAKTREE CAP GROUP LLC	40,700	$2.357M	0.7%	$52.55	—	UNIT CL A	674001201
QCOM	QUALCOMM INC	28,500	$2.238M	0.7%	$45.52	+18.7%	COM	747525103
WMT	WAL-MART STORES INC	28,535	$2.172M	0.6%	$19.98	-0.4%	COM	931142103
GD	GENERAL DYNAMICS CORP	20,000	$2.169M	0.6%	$56.44	+41.9%	COM	369550108
—	ALTERA CORP	57,540	$2.076M	0.6%	$33.70	—	COM	021441100
—	PHH CORP	78,000	$2.007M	0.6%	$25.82	—	COM NEW	693320202
KMB	KIMBERLY CLARK CORP	18,240	$2.002M	0.6%	$63.06	+10.0%	COM	494368103
—	NORTH AMERN ENERGY PARTNERS	270,300	$1.938M	0.6%	$4.88	—	COM	656844107
VECO	VEECO INSTRS INC DEL	44,300	$1.85M	0.5%	$37.14	+4.1%	COM	922417100
—	NEW RESIDENTIAL INVT CORP	283,500	$1.826M	0.5%	$6.91	—	COM	64828T102
—	SPRINGLEAF HLDGS INC	72,000	$1.803M	0.5%	$26.88	—	COM	85172J101
INTU	INTUIT	23,200	$1.796M	0.5%	$55.18	+25.5%	COM	461202103
SCHW	SCHWAB CHARLES CORP NEW	65,000	$1.769M	0.5%	$15.92	+42.6%	COM	808513105
CSX	CSX CORP	60,000	$1.731M	0.5%	$6.66	+15.1%	COM	126408103
—	ADVANTAGE OIL & GAS LTD	350,730	$1.725M	0.5%	$3.95	—	COM	00765F101
—	HOSPIRA INC	40,000	$1.723M	0.5%	$38.53	—	COM	441060100
CAE	CAE INC	130,000	$1.704M	0.5%	$9.68	+22.9%	COM	124765108
TD	TORONTO DOMINION BK ONT	35,472	$1.656M	0.5%	$42.90	+5.1%	COM NEW	891160509
—	E M C CORP MASS	58,200	$1.589M	0.5%	$25.88	—	COM	268648102
JNJ	JOHNSON & JOHNSON	15,925	$1.558M	0.5%	$59.66	+11.7%	COM	478160104
—	WALGREEN CO	23,700	$1.558M	0.5%	$44.20	—	COM	931422109
MS	MORGAN STANLEY	50,000	$1.552M	0.5%	$21.80	+4.1%	COM NEW	617446448
AIG	AMERICAN INTL GROUP INC	30,250	$1.506M	0.4%	$36.97	+2.4%	COM NEW	026874784
CVS	CVS CAREMARK CORPORATION	19,700	$1.468M	0.4%	$41.44	+23.3%	COM	126650100
SU	SUNCOR ENERGY INC NEW	40,310	$1.402M	0.4%	$21.82	+1.3%	COM	867224107
HEI	HEICO CORP NEW	23,000	$1.378M	0.4%	$23.04	+29.0%	COM	422806109
—	CVR REFNG LP	55,000	$1.275M	0.4%	$28.20	—	COMUNIT REP LT	12663P107
—	BROOKFIELD PPTY PARTNERS L P	68,647	$1.272M	0.4%	$19.93	—	UNIT LTD PARTN	G16249107
A	AGILENT TECHNOLOGIES INC	21,500	$1.197M	0.4%	$32.36	+15.4%	COM	00846U101
TDS	TELEPHONE & DATA SYS INC	45,000	$1.174M	0.3%	$25.45	0.0%	COM NEW	879433829
FFIV	F5 NETWORKS INC	11,000	$1.168M	0.3%	$105.80	0.0%	COM	315616102
—	OCWEN FINL CORP	28,750	$1.122M	0.3%	$39.03	—	COM NEW	675746309
TEVA	TEVA PHARMACEUTICAL INDS LTD	20,900	$1.1M	0.3%	$39.19	—	ADR	881624209
—	OPENTABLE INC	14,005	$1.073M	0.3%	$69.38	—	COM	68372A104
TBF	PROSHARES TR	34,270	$1.036M	0.3%	$31.37	—	SHRT 20+YR TRE	74347X849
—	SPECTRUM BRANDS HLDGS INC	13,000	$1.032M	0.3%	$79.38	—	COM	84763R101
—	ENERPLUS CORP	51,790	$1.031M	0.3%	$16.39	—	COM	292766102
TM	TOYOTA MOTOR CORP	9,000	$1.012M	0.3%	$120.67	—	SP ADR REP2COM	892331307
DRI	DARDEN RESTAURANTS INC	20,000	$1.011M	0.3%	$32.08	-2.3%	COM	237194105
TRIP	TRIPADVISOR INC	11,000	$992K	0.3%	$81.07	0.0%	COM	896945201
CNK	CINEMARK HOLDINGS INC	34,000	$982K	0.3%	$23.13	+4.9%	COM	17243V102
STT	STATE STR CORP	13,600	$942K	0.3%	$50.16	0.0%	COM	857477103
—	JUNIPER NETWORKS INC	33,000	$846K	0.3%	$25.64	—	COM	48203R104
MBI	MBIA INC	60,000	$836K	0.2%	$5.45	+2.0%	COM	55262C100
HZO	MARINEMAX INC	55,000	$832K	0.2%	$15.17	0.0%	COM	567908108
—	SELECT COMFORT CORP	46,000	$828K	0.2%	$22.02	—	COM	81616X103
—	PINNACLE ENTMT INC	35,000	$826K	0.2%	$25.79	—	COM	723456109
IRBTQ	IROBOT CORP	19,800	$809K	0.2%	$31.70	+26.3%	COM	462726100
F	FORD MTR CO DEL	52,000	$808K	0.2%	$7.61	+10.1%	COM PAR $0.01	345370860
RY	ROYAL BK CDA MONTREAL QUE	11,963	$786K	0.2%	$61.32	+5.4%	COM	780087102
PEP	PEPSICO INC	9,300	$773K	0.2%	$56.00	+1.5%	COM	713448108
VGK	VANGUARD INTL EQUITY INDEX F	12,960	$761K	0.2%	$57.38	—	FTSE EUROPE ETF	922042874
VYX	NCR CORP NEW	20,000	$728K	0.2%	$21.25	0.0%	COM	62886E108
TCX	TUCOWS INC	56,127	$707K	0.2%	$13.22	0.0%	COM NEW	898697206
MO	ALTRIA GROUP INC	18,200	$678K	0.2%	$17.12	0.0%	COM	02209S103
—	BLACKHAWK NETWORK HLDGS INC	27,700	$673K	0.2%	$24.19	—	CL A	09238E104
IBM	INTERNATIONAL BUSINESS MACHS	3,498	$670K	0.2%	$118.40	-7.8%	COM	459200101
—	ARCTIC CAT INC	14,000	$666K	0.2%	$46.11	—	COM	039670104
DE	DEERE & CO	7,240	$655K	0.2%	$68.18	+2.8%	COM	244199105
TER	TERADYNE INC	33,000	$654K	0.2%	$17.80	0.0%	COM	880770102
—	GRAN TIERRA ENERGY INC	85,000	$633K	0.2%	$6.01	—	COM	38500T101
SGI	TEMPUR SEALY INTL INC	12,000	$605K	0.2%	$12.42	0.0%	COM	88023U101
BCE	BCE INC	14,092	$605K	0.2%	$21.30	+0.9%	COM NEW	05534B760
MFC	MANULIFE FINL CORP	30,203	$580K	0.2%	$15.89	+20.4%	COM	56501R106
BNS	BANK N S HALIFAX	9,799	$565K	0.2%	$30.78	+3.6%	COM	064149107
—	ARCELORMITTAL SA LUXEMBOURG	35,000	$563K	0.2%	$18.97	—	NY REGISTRY SH	03938L104
—	LEGG MASON INC	11,500	$562K	0.2%	$35.27	—	COM	524901105
—	COMPUWARE CORP	53,000	$554K	0.2%	$11.19	—	COM	205638109
CLH	CLEAN HARBORS INC	9,700	$529K	0.2%	$56.64	-3.8%	COM	184496107
—	MITEL NETWORKS CORP	50,000	$527K	0.2%	$10.54	—	COM	60671Q104
CSCO	CISCO SYS INC	23,300	$520K	0.2%	$15.26	+0.3%	COM	17275R102
—	GREENHILL & CO INC	9,650	$499K	0.1%	$59.40	—	COM	395259104
MMM	3M CO	3,600	$486K	0.1%	$61.26	+24.5%	COM	88579Y101
—	CREDIT SUISSE GROUP	15,000	$484K	0.1%	$28.60	—	SPONSORED ADR	225401108
SAH	SONIC AUTOMOTIVE INC	20,000	$448K	0.1%	$22.97	0.0%	CL A	83545G102
T	AT&T INC	11,700	$409K	0.1%	$10.85	0.0%	COM	00206R102
XOM	EXXON MOBIL CORP	4,150	$404K	0.1%	$54.11	+7.3%	COM	30231G102
—	KRAFT FOODS GROUP INC	7,099	$397K	0.1%	$55.92	—	COM	50076Q106
RCI	ROGERS COMMUNICATIONS INC	9,342	$386K	0.1%	$46.17	-11.7%	CL B	775109200
—	CIT GROUP INC	7,750	$378K	0.1%	$55.25	—	COM NEW	125581801
BMO	BANK MONTREAL QUE	5,536	$369K	0.1%	$38.17	+5.2%	COM	063671101
EBAY	EBAY INC	6,400	$352K	0.1%	$19.70	+4.9%	COM	278642103
CM	CDN IMPERIAL BK OF COMMERCE	3,991	$342K	0.1%	$20.94	+11.5%	COM	136069101
ENB	ENBRIDGE INC	7,508	$340K	0.1%	$22.88	-0.5%	COM	29250N105
ADP	AUTOMATIC DATA PROCESSING IN	4,400	$339K	0.1%	$45.09	+16.3%	COM	053015103
—	BLACKSTONE GROUP L P	10,000	$331K	0.1%	$21.10	—	COM UNIT LTD	09253U108
NUE	NUCOR CORP	6,365	$320K	0.1%	$32.41	+15.7%	COM	670346105
—	APOLLO GLOBAL MGMT LLC	10,000	$317K	0.1%	$24.80	—	CL A SHS	037612306
PBA	PEMBINA PIPELINE CORP	8,210	$311K	0.1%	$16.75	+14.1%	COM	706327103
—	PROCERA NETWORKS INC	30,000	$310K	0.1%	$13.79	—	COM NEW	74269U203
—	BARRICK GOLD CORP	17,100	$303K	0.1%	$15.99	—	COM	067901108
—	PENGROWTH ENERGY CORP	48,800	$294K	0.1%	$5.90	—	COM	70706P104
ABBV	ABBVIE INC	5,630	$288K	0.1%	$26.55	+18.6%	COM	00287Y109
EVR	EVERCORE PARTNERS INC	5,000	$275K	0.1%	$35.23	+25.5%	CLASS A	29977A105
—	PROSHARES TR	6,000	$274K	0.1%	$45.67	—	ULTSHT RUSS2000	74348A319
—	KKR & CO L P DEL	12,000	$273K	0.1%	$19.85	—	COM UNITS	48248M102
HBAN	HUNTINGTON BANCSHARES INC	26,450	$263K	0.1%	$5.30	+13.9%	COM	446150104
MDLZ	MONDELEZ INTL INC	7,200	$248K	0.1%	$23.16	+13.8%	CL A	609207105
SF	STIFEL FINL CORP	5,000	$248K	0.1%	$23.19	+21.6%	COM	860630102
BIP	BROOKFIELD INFRAST PARTNERS	6,000	$235K	0.1%	$36.50	—	LP INT UNIT	G16252101
—	APOLLO ED GROUP INC	6,500	$221K	0.1%	$34.00	—	CL A	037604105
ABT	ABBOTT LABS	5,630	$216K	0.1%	$29.23	+5.1%	COM	002824100
—	BROOKFIELD ASSET MGMT INC	5,050	$205K	0.1%	$40.59	—	CL A LTD VT SH	112585104
—	BANK OF AMERICA CORPORATION	25,000	$205K	0.1%	$8.20	—	*W EXP 01/16/201	060505146
VZ	VERIZON COMMUNICATIONS INC	4,226	$200K	0.1%	$25.87	0.0%	COM	92343V104
BCS	BARCLAYS PLC	10,000	$156K	0.0%	$17.00	—	ADR	06738E204
—	SILICON IMAGE INC	17,000	$117K	0.0%	$6.88	—	COM	82705T102
—	KKR FINL HLDGS LLC	10,000	$115K	0.0%	$13.00	—	COM	48248A306
—	CYAN INC	25,000	$106K	0.0%	$4.24	—	COM	23247W104
—	ROYAL BK SCOTLAND GROUP PLC	10,000	$103K	0.0%	$11.60	—	SPONS ADR 20 ORD	780097689
—	ENTROPIC COMMUNICATIONS INC	13,000	$53,000	0.0%	$4.38	—	COM	29384R105
URG	UR ENERGY INC	25,000	$39,000	0.0%	$0.96	+57.3%	COM	91688R108