Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
INTC	INTEL CORP	346,458	$10.71M	3.1%	$17.37	+19.1%	COM	458140100
AAPL	APPLE INC	114,295	$10.62M	3.0%	$18.06	+3.3%	COM	037833100
CCJ	CAMECO CORP	490,200	$9.61M	2.7%	$17.86	+2.8%	COM	13321L108
—	GENERAL ELECTRIC CO	351,838	$9.246M	2.6%	$24.16	—	COM	369604103
MSFT	MICROSOFT CORP	213,131	$8.888M	2.5%	$26.94	+26.1%	COM	594918104
BAC	BANK OF AMERICA CORPORATION	575,690	$8.848M	2.5%	$10.68	+14.6%	COM	060505104
MGA	MAGNA INTL INC	72,311	$7.78M	2.2%	$22.60	+63.2%	COM	559222401
JPM	JPMORGAN CHASE & CO	131,965	$7.604M	2.2%	$37.01	+11.3%	COM	46625H100
MRK	MERCK & CO INC NEW	130,050	$7.523M	2.1%	$30.02	+26.5%	COM	58933Y105
BK	BANK NEW YORK MELLON CORP	199,300	$7.47M	2.1%	$21.22	+22.9%	COM	064058100
RJF	RAYMOND JAMES FINANCIAL INC	146,250	$7.419M	2.1%	$24.65	+14.3%	COM	754730109
C	CITIGROUP INC	153,857	$7.247M	2.1%	$36.39	-2.7%	COM NEW	172967424
PFE	PFIZER INC	236,706	$7.025M	2.0%	$16.47	+6.5%	COM	717081103
CVE	CENOVUS ENERGY INC	201,580	$6.531M	1.9%	$22.58	+3.2%	COM	15135U109
—	SHAW COMMUNICATIONS INC	254,268	$6.516M	1.9%	$24.04	—	CL B CONV	82028K200
—	COVANTA HLDG CORP	307,100	$6.329M	1.8%	$20.61	—	COM	22282E102
—	BROOKFIELD PPTY PARTNERS L P	289,061	$6.035M	1.7%	$20.65	—	UNIT LTD PARTN	G16249107
NFG	NATIONAL FUEL GAS CO N J	75,500	$5.912M	1.7%	$60.97	+20.9%	COM	636180101
—	LAZARD LTD	110,000	$5.672M	1.6%	$32.15	—	SHS A	G54050102
—	ENCANA CORP	236,230	$5.594M	1.6%	$19.68	—	COM	292505104
—	POTASH CORP SASK INC	141,141	$5.365M	1.5%	$37.72	—	COM	73755L107
VZ	VERIZON COMMUNICATIONS INC	108,200	$5.294M	1.5%	$26.76	+0.1%	COM	92343V104
—	FORTRESS INVESTMENT GROUP LL	707,900	$5.267M	1.5%	$6.78	—	CL A	34958B106
OPLN	KAR AUCTION SVCS INC	165,000	$5.259M	1.5%	$8.49	+36.0%	COM	48238T109
MCD	MCDONALDS CORP	44,800	$4.513M	1.3%	$71.65	+4.4%	COM	580135101
—	TRANSCANADA CORP	88,560	$4.225M	1.2%	$43.30	—	COM	89353D107
AMAT	APPLIED MATLS INC	184,900	$4.169M	1.2%	$13.83	+27.2%	COM	038222105
ATI	ALLEGHENY TECHNOLOGIES INC	90,000	$4.059M	1.2%	$27.61	+40.1%	COM	01741R102
PG	PROCTER & GAMBLE CO	51,500	$4.047M	1.2%	$55.88	+4.3%	COM	742718109
GLW	CORNING INC	183,000	$4.017M	1.1%	$10.57	+48.2%	COM	219350105
—	CST BRANDS INC	109,000	$3.761M	1.1%	$34.36	—	COM	12646R105
KO	COCA COLA CO	83,800	$3.55M	1.0%	$27.53	+2.1%	COM	191216100
—	CARMIKE CINEMAS INC	100,500	$3.531M	1.0%	$19.75	—	COM	143436400
VALE	VALE S A	253,700	$3.356M	1.0%	$13.23	—	ADR	91912E105
EMR	EMERSON ELEC CO	50,000	$3.318M	0.9%	$40.02	+22.8%	COM	291011104
SIEGY	SIEMENS A G	25,000	$3.305M	0.9%	$131.25	—	SPONSORED ADR	826197501
BRK/B	BERKSHIRE HATHAWAY INC DEL	26,082	$3.301M	0.9%	$110.02	+15.0%	CL B NEW	084670702
—	OCH ZIFF CAP MGMT GROUP	237,150	$3.28M	0.9%	$11.71	—	CL A	67551U105
—	GLAXOSMITHKLINE PLC	60,000	$3.209M	0.9%	$49.97	—	SPONSORED ADR	37733W105
AIG	AMERICAN INTL GROUP INC	57,250	$3.125M	0.9%	$38.59	+4.7%	COM NEW	026874784
SU	SUNCOR ENERGY INC NEW	70,485	$3.004M	0.9%	$23.61	+10.1%	COM	867224107
—	RITE AID CORP	412,200	$2.955M	0.8%	$3.24	—	COM	767754104
BRK/A	BERKSHIRE HATHAWAY INC DEL	15	$2.849M	0.8%	$165587.56	+14.6%	CL A	084670108
—	UNITED TECHNOLOGIES CORP	24,400	$2.817M	0.8%	$92.95	—	COM	913017109
SPY	SPDR S&P 500 ETF TR	14,304	$2.8M	0.8%	$172.87	—	TR UNIT	78462F103
GS	GOLDMAN SACHS GROUP INC	16,595	$2.779M	0.8%	$130.50	-1.4%	COM	38141G104
WFC	WELLS FARGO & CO NEW	51,650	$2.715M	0.8%	$28.67	+26.7%	COM	949746101
—	BROOKFIELD RESIDENTIAL PPTYS	127,500	$2.663M	0.8%	$22.62	—	COM	11283W104
—	NORTH AMERN ENERGY PARTNERS	328,800	$2.646M	0.8%	$5.45	—	COM	656844107
INTU	INTUIT	29,200	$2.351M	0.7%	$58.26	+20.4%	COM	461202103
POST	POST HLDGS INC	45,800	$2.332M	0.7%	$29.23	+14.4%	COM	737446104
QCOM	QUALCOMM INC	28,500	$2.257M	0.6%	$45.52	+25.9%	COM	747525103
WMT	WAL-MART STORES INC	28,535	$2.142M	0.6%	$19.98	+2.7%	COM	931142103
—	OAKTREE CAP GROUP LLC	41,500	$2.075M	0.6%	$52.50	—	UNIT CL A	674001201
—	HOSPIRA INC	40,000	$2.055M	0.6%	$38.53	—	COM	441060100
KMB	KIMBERLY CLARK CORP	18,058	$2.008M	0.6%	$63.06	+13.8%	COM	494368103
—	ALTERA CORP	57,540	$2M	0.6%	$33.70	—	COM	021441100
VECO	VEECO INSTRS INC DEL	51,300	$1.911M	0.5%	$36.95	-3.3%	COM	922417100
—	SPRINGLEAF HLDGS INC	72,000	$1.868M	0.5%	$26.88	—	COM	85172J101
TD	TORONTO DOMINION BK ONT	35,946	$1.849M	0.5%	$42.97	+12.9%	COM NEW	891160509
CSX	CSX CORP	60,000	$1.849M	0.5%	$6.66	+21.5%	COM	126408103
—	WALGREEN CO	23,700	$1.757M	0.5%	$44.20	—	COM	931422109
—	SPECTRUM BRANDS HLDGS INC	20,000	$1.721M	0.5%	$81.72	—	COM	84763R101
CAE	CAE INC	130,000	$1.7M	0.5%	$9.68	+25.6%	COM	124765108
—	POLYPORE INTL INC	35,000	$1.671M	0.5%	$47.74	—	COM	73179V103
JNJ	JOHNSON & JOHNSON	15,725	$1.645M	0.5%	$59.66	+22.6%	COM	478160104
—	INTERNATIONAL GAME TECHNOLOG	102,200	$1.626M	0.5%	$14.00	—	COM	459902102
MS	MORGAN STANLEY	50,000	$1.617M	0.5%	$21.80	+4.2%	COM NEW	617446448
—	E M C CORP MASS	58,200	$1.533M	0.4%	$25.88	—	COM	268648102
CVS	CVS CAREMARK CORPORATION	20,300	$1.53M	0.4%	$41.83	+31.2%	COM	126650100
HEI	HEICO CORP NEW	29,000	$1.506M	0.4%	$24.08	+16.6%	COM	422806109
—	NEW RESIDENTIAL INVT CORP	228,500	$1.44M	0.4%	$6.91	—	COM	64828T102
—	PEABODY ENERGY CORP	86,200	$1.409M	0.4%	$16.35	—	COM	704549104
TM	TOYOTA MOTOR CORP	11,700	$1.4M	0.4%	$120.43	—	SP ADR REP2COM	892331307
—	ADVANTAGE OIL & GAS LTD	206,330	$1.386M	0.4%	$3.95	—	COM	00765F101
—	CVR REFNG LP	55,000	$1.376M	0.4%	$28.20	—	COMUNIT REP LT	12663P107
FFIV	F5 NETWORKS INC	12,000	$1.337M	0.4%	$105.95	+1.6%	COM	315616102
—	GOOGLE INC	2,140	$1.251M	0.4%	$878.93	—	CL A	38259P508
A	AGILENT TECHNOLOGIES INC	21,500	$1.235M	0.4%	$32.36	+12.8%	COM	00846U101
TDS	TELEPHONE & DATA SYS INC	45,000	$1.175M	0.3%	$25.45	+4.2%	COM NEW	879433829
HZO	MARINEMAX INC	70,029	$1.172M	0.3%	$15.30	+3.1%	COM	567908108
CHDN	CHURCHILL DOWNS INC	12,200	$1.099M	0.3%	$13.69	0.0%	COM	171484108
TEVA	TEVA PHARMACEUTICAL INDS LTD	20,900	$1.096M	0.3%	$39.19	—	ADR	881624209
—	OPENTABLE INC	10,005	$1.037M	0.3%	$69.38	—	COM	68372A104
F	FORD MTR CO DEL	59,800	$1.031M	0.3%	$7.77	+14.1%	COM PAR $0.01	345370860
—	FIRSTSERVICE CORP	20,000	$1.013M	0.3%	$50.65	—	SUB VTG SH	33761N109
TBF	PROSHARES TR	34,270	$987K	0.3%	$31.37	—	SHRT 20+YR TRE	74347X849
DIN	DINEEQUITY INC	12,000	$954K	0.3%	$48.04	0.0%	COM	254423106
XLK	SELECT SECTOR SPDR TR	24,850	$953K	0.3%	$38.35	—	TECHNOLOGY	81369Y803
XLF	SELECT SECTOR SPDR TR	41,750	$949K	0.3%	$22.73	—	SBI INT-FINL	81369Y605
—	ENERPLUS CORP	37,502	$945K	0.3%	$16.39	—	COM	292766102
DRI	DARDEN RESTAURANTS INC	20,000	$925K	0.3%	$32.08	-2.2%	COM	237194105
RY	ROYAL BK CDA MONTREAL QUE	12,405	$886K	0.3%	$61.55	+10.2%	COM	780087102
—	PINNACLE ENTMT INC	35,000	$881K	0.3%	$25.79	—	COM	723456109
—	GRAN TIERRA ENERGY INC	105,000	$853K	0.2%	$6.41	—	COM	38500T101
SGI	TEMPUR SEALY INTL INC	14,000	$836K	0.2%	$12.56	+6.7%	COM	88023U101
PEP	PEPSICO INC	9,300	$831K	0.2%	$56.00	+8.8%	COM	713448108
—	JUNIPER NETWORKS INC	33,000	$810K	0.2%	$25.64	—	COM	48203R104
BNS	BANK N S HALIFAX	11,749	$783K	0.2%	$31.44	+10.6%	COM	064149107
VGK	VANGUARD INTL EQUITY INDEX F	12,960	$777K	0.2%	$57.38	—	FTSE EUROPE ETF	922042874
MO	ALTRIA GROUP INC	18,200	$763K	0.2%	$17.12	+12.1%	COM	02209S103
—	SELECT COMFORT CORP	36,000	$744K	0.2%	$22.02	—	COM	81616X103
TCX	TUCOWS INC	56,127	$687K	0.2%	$13.22	+4.6%	COM NEW	898697206
MBI	MBIA INC	60,500	$668K	0.2%	$5.45	-1.4%	COM	55262C100
DE	DEERE & CO	7,240	$656K	0.2%	$68.18	+8.7%	COM	244199105
CAT	CATERPILLAR INC DEL	5,915	$643K	0.2%	$63.80	+22.3%	COM	149123101
IBM	INTERNATIONAL BUSINESS MACHS	3,498	$634K	0.2%	$118.40	-5.2%	COM	459200101
—	MITEL NETWORKS CORP	60,000	$632K	0.2%	$10.54	—	COM	60671Q104
MFC	MANULIFE FINL CORP	30,078	$598K	0.2%	$15.89	+18.9%	COM	56501R106
CM	CDN IMPERIAL BK OF COMMERCE	6,580	$598K	0.2%	$22.71	+12.0%	COM	136069101
—	MULTIMEDIA GAMES HLDG CO INC	20,000	$593K	0.2%	$29.65	—	COM	625453105
CSCO	CISCO SYS INC	23,300	$579K	0.2%	$15.26	+9.1%	COM	17275R102
SAH	SONIC AUTOMOTIVE INC	20,000	$534K	0.2%	$22.97	+8.7%	CL A	83545G102
—	ARCELORMITTAL SA LUXEMBOURG	35,000	$523K	0.1%	$18.97	—	NY REGISTRY SH	03938L104
MMM	3M CO	3,600	$516K	0.1%	$61.26	+32.3%	COM	88579Y101
MBUU	MALIBU BOATS INC	25,000	$503K	0.1%	$20.60	0.0%	COM CL A	56117J100
—	CHUBB CORP	5,400	$498K	0.1%	$92.22	—	COM	171232101
BCE	BCE INC	10,746	$487K	0.1%	$21.30	+8.2%	COM NEW	05534B760
—	GREENHILL & CO INC	9,800	$483K	0.1%	$59.24	—	COM	395259104
T	AT&T INC	12,700	$449K	0.1%	$10.93	+7.8%	COM	00206R102
—	CREDIT SUISSE GROUP	15,000	$426K	0.1%	$28.60	—	SPONSORED ADR	225401108
—	KRAFT FOODS GROUP INC	7,099	$426K	0.1%	$55.92	—	COM	50076Q106
TGT	TARGET CORP	7,230	$419K	0.1%	$41.64	0.0%	COM	87612E106
BMO	BANK MONTREAL QUE	5,517	$406K	0.1%	$38.17	+14.1%	COM	063671101
RCI	ROGERS COMMUNICATIONS INC	10,052	$404K	0.1%	$45.77	-11.6%	CL B	775109200
XOM	EXXON MOBIL CORP	3,950	$398K	0.1%	$54.11	+14.3%	COM	30231G102
—	OCWEN FINL CORP	9,750	$362K	0.1%	$39.03	—	COM NEW	675746309
—	APOLLO GLOBAL MGMT LLC	12,800	$355K	0.1%	$25.45	—	CL A SHS	037612306
—	CIT GROUP INC	7,750	$355K	0.1%	$55.25	—	COM NEW	125581801
PBA	PEMBINA PIPELINE CORP	8,210	$353K	0.1%	$16.75	+30.8%	COM	706327103
ADP	AUTOMATIC DATA PROCESSING IN	4,400	$349K	0.1%	$45.09	+17.2%	COM	053015103
—	BLACKSTONE GROUP L P	10,000	$334K	0.1%	$21.10	—	COM UNIT LTD	09253U108
EBAY	EBAY INC	6,400	$320K	0.1%	$19.70	-1.6%	COM	278642103
ABBV	ABBVIE INC	5,630	$318K	0.1%	$26.55	+24.2%	COM	00287Y109
NUE	NUCOR CORP	6,365	$313K	0.1%	$32.41	+19.2%	COM	670346105
—	KKR & CO L P DEL	12,000	$292K	0.1%	$19.85	—	COM UNITS	48248M102
EVR	EVERCORE PARTNERS INC	5,000	$288K	0.1%	$35.23	+20.9%	CLASS A	29977A105
ENB	ENBRIDGE INC	5,913	$280K	0.1%	$22.88	+10.0%	COM	29250N105
MDLZ	MONDELEZ INTL INC	7,200	$271K	0.1%	$23.16	+22.2%	CL A	609207105
—	PHH CORP	12,500	$269K	0.1%	$25.82	—	COM NEW	693320202
VYX	NCR CORP NEW	7,500	$263K	0.1%	$21.25	-4.9%	COM	62886E108
GM	GENERAL MTRS CO	6,800	$247K	0.1%	$26.30	0.0%	COM	37045V100
SF	STIFEL FINL CORP	5,000	$237K	0.1%	$23.19	+18.0%	COM	860630102
—	PROSHARES TR	15,000	$232K	0.1%	$15.47	—	PSHS ULTSHT FINL	74347X146
ABT	ABBOTT LABS	5,630	$230K	0.1%	$29.23	+7.7%	COM	002824100
BIP	BROOKFIELD INFRAST PARTNERS	4,900	$204K	0.1%	$36.50	—	LP INT UNIT	G16252101
—	STAPLES INC	16,100	$175K	0.0%	$10.87	—	COM	855030102
HBAN	HUNTINGTON BANCSHARES INC	17,250	$165K	0.0%	$5.30	+13.3%	COM	446150104
—	BAZAARVOICE INC	20,000	$158K	0.0%	$7.90	—	COM	073271108
BCS	BARCLAYS PLC	10,000	$146K	0.0%	$17.00	—	ADR	06738E204
—	ROYAL BK SCOTLAND GROUP PLC	10,000	$113K	0.0%	$11.60	—	SPONS ADR 20 ORD	780097689
—	CYAN INC	25,000	$101K	0.0%	$4.24	—	COM	23247W104
—	SILICON IMAGE INC	17,000	$86,000	0.0%	$6.88	—	COM	82705T102
URG	UR ENERGY INC	25,000	$28,000	0.0%	$0.96	+26.6%	COM	91688R108