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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

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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
BCE INC COM NEW 05534B760   7,550,000 250,000 SH   SOLE   0 0 250,000
BANK MONTREAL QUE COM 063671101   18,863,750 125,000 SH   SOLE   0 0 125,000
BANK NOVA SCOTIA HALIFAX COM 064149107   22,590,000 300,000 SH   SOLE   0 0 300,000
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702   12,479,431 25,690 SH   SOLE   0 0 25,690
CANADIAN IMPERIAL BK COMM COM 136069101   19,332,000 200,000 SH   SOLE   0 0 200,000
MANULIFE FINL CORP COM 56501R106   26,994,800 620,000 SH   SOLE   0 0 620,000
MARKEL GROUP INC COM 570535104   11,185,216 5,600 SH   SOLE   0 0 5,600
ROYAL BK CDA COM 780087102   11,665,550 65,000 SH   SOLE   0 0 65,000
TORONTO DOMINION BK ONT COM NEW 891160509   20,032,000 200,000 SH   SOLE   0 0 200,000
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363   25,640,874 45,140 SH   SOLE   0 0 45,140