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
ALLSTATE CORP COM 020002101 29,972 338,900 SH   SOLE   338,900 0 0
ASSURED GUARANTY LTD COM G0585R106 32,449 777,400 SH   SOLE   777,400 0 0
BANK MONTREAL QUE COM 063671101 21,558 293,800 SH   SOLE   293,800 0 0
CANADIAN NAT RES LTD COM 136385101 2,696 93,500 SH   SOLE   93,500 0 0
CAN-FITE BIOPHARMA LTD SPONSORED ADR 13471N102 1,434 796,500 SH   SOLE   796,500 0 0
CATERPILLAR INC DEL COM 149123101 516 4,800 SH   SOLE   4,800 0 0
CISCO SYS INC COM 17275R102 560 17,900 SH   SOLE   17,900 0 0
CITIGROUP INC COM NEW 172967424 20,826 311,400 SH   SOLE   311,400 0 0
CLIFFS NAT RES INC COM 18683K101 4,119 595,200 SH   SOLE   595,200 0 0
COCA COLA CO COM 191216100 789 17,600 SH   SOLE   17,600 0 0
CSX CORP COM 126408103 12,767 234,000 SH   SOLE   234,000 0 0
D R HORTON INC COM 23331A109 774 22,400 SH   SOLE   22,400 0 0
ENCANA CORP COM 292505104 20,827 2,368,700 SH   SOLE   2,368,700 0 0
FINISAR CORP COM NEW 31787A507 27,131 1,044,300 SH   SOLE   1,044,300 0 0
FORTERRA INC COM 34960W106 240 29,179 SH   SOLE   29,179 0 0
LABORATORY CORP AMER HLDGS COM NEW 50540R409 7,953 51,600 SH   SOLE   51,600 0 0
MAGNA INTL INC COM 559222401 5,068 109,400 SH   SOLE   109,400 0 0
MBIA INC COM 55262C100 4,222 447,703 SH   SOLE   447,703 0 0
MCKESSON CORP COM 58155Q103 30,078 182,800 SH   SOLE   182,800 0 0
MDC PARTNERS INC CL A SUB VTG 552697104 13,186 1,331,965 SH   SOLE   1,331,965 0 0
MOLSON COORS BREWING CO CL B 60871R209 492 5,700 SH   SOLE   5,700 0 0
OWENS CORNING NEW COM 690742101 689 10,300 SH   SOLE   10,300 0 0
RAYONIER INC COM 754907103 523 18,200 SH   SOLE   18,200 0 0
ROYAL CARIBBEAN CRUISES LTD COM V7780T103 699 6,400 SH   SOLE   6,400 0 0
TORONTO DOMINION BK ONT COM NEW 891160509 24,590 488,300 SH   SOLE   488,300 0 0
VISA INC COM CL A 92826C839 684 7,300 SH   SOLE   7,300 0 0
WHIRLPOOL CORP COM 963320106 37,308 194,700 SH   SOLE   194,700 0 0