The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AGRIUM INC COM 008916108 47,936 570,500 SH   SOLE   570,500 0 0
APOLLO GLOBAL MGMT LLC CL A SHS 037612306 21,220 750,900 SH   SOLE   750,900 0 0
ASSURED GUARANTY LTD COM G0585R106 22,452 1,197,400 SH   SOLE   1,197,400 0 0
BANK MONTREAL QUE COM 063671101 46,870 702,400 SH   SOLE   702,400 0 0
BANK N S HALIFAX COM 064149107 14,178 247,600 SH   SOLE   247,600 0 0
BLACKBERRY LTD COM 09228F103 6,104 776,400 SH   SOLE   776,400 0 0
CAMECO CORP COM 13321L108 28,101 1,558,240 SH   SOLE   1,558,240 0 0
CANADIAN NAT RES LTD COM 136385101 1,486 47,300 SH   SOLE   47,300 0 0
CARNIVAL CORP PAIRED CTF 143658300 11,642 356,700 SH   SOLE   356,700 0 0
CENOVUS ENERGY INC COM 15135U109 41,165 1,379,700 SH   SOLE   1,379,700 0 0
CSX CORP COM 126408103 42,085 1,635,000 SH   SOLE   1,635,000 0 0
CUMMINS INC COM 231021106 27,676 208,300 SH   SOLE   208,300 0 0
GENWORTH FINL INC COM CL A 37247D106 3,474 271,400 SH   SOLE   271,400 0 0
GOLDCORP INC NEW COM 380956409 35,935 1,381,500 SH   SOLE   1,381,500 0 0
GROUPE CGI INC CL A SUB VTG 39945C109 18,361 523,300 SH   SOLE   523,300 0 0
HARMAN INTL INDS INC COM 413086109 2,543 38,400 SH   SOLE   38,400 0 0
HONEYWELL INTL INC COM 438516106 34,653 417,300 SH   SOLE   417,300 0 0
JPMORGAN CHASE & CO COM 46625H100 38,504 744,900 SH   SOLE   744,900 0 0
MAGNA INTL INC COM 559222401 44,557 540,400 SH   SOLE   540,400 0 0
MANULIFE FINL CORP COM 56501R106 12,474 754,200 SH   SOLE   754,200 0 0
MBIA INC COM 55262C100 40,690 3,977,500 SH   SOLE   3,977,500 0 0
MICROSOFT CORP COM 594918104 22,011 661,400 SH   SOLE   661,400 0 0
OPEN TEXT CORP COM 683715106 14,897 199,400 SH   SOLE   199,400 0 0
REGIONS FINL CORP NEW COM 7591EP100 26,206 2,830,000 SH   SOLE   2,830,000 0 0
ROYAL CARIBBEAN CRUISES LTD COM V7780T103 37,878 989,500 SH   SOLE   989,500 0 0
SEALED AIR CORP NEW COM 81211K100 29,392 1,081,000 SH   SOLE   1,081,000 0 0
TEXAS INSTRS INC COM 882508104 46,035 1,142,600 SH   SOLE   1,142,600 0 0
TIVO INC COM 888706108 3,905 313,900 SH   SOLE   313,900 0 0
TORONTO DOMINION BK ONT COM NEW 891160509 46,257 513,900 SH   SOLE   513,900 0 0
WABASH NATL CORP COM 929566107 1,831 157,000 SH   SOLE   157,000 0 0