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
AFLAC INC COM 001055102 372 6,100 SH   SOLE   6,100 0 0
AGRIUM INC COM 008916108 14,061 148,300 SH   SOLE   148,300 0 0
AK STL HLDG CORP COM 001547108 17,272 2,907,800 SH   SOLE   2,907,800 0 0
ALLEGHENY TECHNOLOGIES INC COM 01741R102 28,170 810,200 SH   SOLE   810,200 0 0
AMAZON COM INC COM 023135106 403 1,300 SH   SOLE   1,300 0 0
ANDERSONS INC COM 034164103 34,566 650,491 SH   SOLE   650,491 0 0
APOLLO GLOBAL MGMT LLC CL A SHS 037612306 240 10,200 SH   SOLE   10,200 0 0
ASSURED GUARANTY LTD COM G0585R106 27,817 1,070,300 SH   SOLE   1,070,300 0 0
BANK MONTREAL QUE COM 063671101 51,280 723,900 SH   SOLE   723,900 0 0
BANK N S HALIFAX COM 064149107 15,541 271,900 SH   SOLE   271,900 0 0
BRUNSWICK CORP COM 117043109 19,053 371,700 SH   SOLE   371,700 0 0
CANADIAN NAT RES LTD COM 136385101 20,896 674,900 SH   SOLE   674,900 0 0
CENOVUS ENERGY INC COM 15135U109 8,421 407,600 SH   SOLE   407,600 0 0
CIPHER PHARMACEUTICALS INC COM 17253X105 7,441 515,400 SH   SOLE   515,400 0 0
CISCO SYS INC COM 17275R102 21,960 789,500 SH   SOLE   789,500 0 0
COMMUNITY HEALTH SYS INC NEW COM 203668108 442 8,200 SH   SOLE   8,200 0 0
CSX CORP COM 126408103 47,522 1,311,700 SH   SOLE   1,311,700 0 0
CUMMINS INC COM 231021106 44,851 311,100 SH   SOLE   311,100 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 17,373 353,200 SH   SOLE   353,200 0 0
GOLDCORP INC NEW COM 380956409 7,929 427,640 SH   SOLE   427,640 0 0
GROUPE CGI INC CL A SUB VTG 39945C109 18,680 489,300 SH   SOLE   489,300 0 0
HONEYWELL INTL INC COM 438516106 16,257 162,700 SH   SOLE   162,700 0 0
HUDBAY MINERALS INC COM 443628102 16,584 1,901,200 SH   SOLE   1,901,200 0 0
MANULIFE FINL CORP COM 56501R106 13,119 686,200 SH   SOLE   686,200 0 0
NASDAQ OMX GROUP INC COM 631103108 40,981 854,500 SH   SOLE   854,500 0 0
NXP SEMICONDUCTORS N V COM N6596X109 54,579 714,400 SH   SOLE   714,400 0 0
PFIZER INC COM 717081103 11,223 360,300 SH   SOLE   360,300 0 0
PIONEER NAT RES CO COM 723787107 505 3,400 SH   SOLE   3,400 0 0
ROYAL BK CDA MONTREAL QUE COM 780087102 7,220 104,400 SH   SOLE   104,400 0 0
ROYAL CARIBBEAN CRUISES LTD COM V7780T103 36,104 438,000 SH   SOLE   438,000 0 0
SCHLUMBERGER LTD COM 806857108 28,304 331,400 SH   SOLE   331,400 0 0
SEALED AIR CORP NEW COM 81211K100 51,526 1,214,400 SH   SOLE   1,214,400 0 0
TECK RESOURCES LTD CL B 878742204 9,526 696,000 SH   SOLE   696,000 0 0
TIVO INC COM 888706108 6,791 573,600 SH   SOLE   573,600 0 0
TORONTO DOMINION BK ONT COM NEW 891160509 49,409 1,032,600 SH   SOLE   1,032,600 0 0
UNITED PARCEL SERVICE INC CL B 911312106 411 3,700 SH   SOLE   3,700 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 14,122 98,500 SH   SOLE   98,500 0 0