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
3M CO COM 88579Y101 430 3,600 SH   SOLE   3,600 0 0
ABBVIE INC COM 00287Y109 252 5,630 SH   SOLE   5,630 0 0
ADVANTAGE OIL & GAS LTD COM 00765F101 3,333 865,580 SH   SOLE   865,580 0 0
AGILENT TECHNOLOGIES INC COM 00846U101 564 11,000 SH   SOLE   11,000 0 0
ALLEGHENY TECHNOLOGIES INC COM 01741R102 1,831 60,000 SH   SOLE   60,000 0 0
ALTERA CORP COM 021441100 1,793 48,240 SH   SOLE   48,240 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 243 5,000 SH   SOLE   5,000 0 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 3,968 40,000 SH   SOLE   40,000 0 0
APOLLO GLOBAL MGMT LLC CL A SHS 037612306 283 10,000 SH   SOLE   10,000 0 0
APPLE INC COM 037833100 5,418 11,365 SH   SOLE   11,365 0 0
APPLIED MATLS INC COM 038222105 2,672 152,400 SH   SOLE   152,400 0 0
ARCTIC CAT INC COM 039670104 742 13,000 SH   SOLE   13,000 0 0
AUTOMATIC DATA PROCESSING IN COM 053015103 318 4,400 SH   SOLE   4,400 0 0
BANK MONTREAL QUE COM 063671101 466 6,965 SH   SOLE   6,965 0 0
BANK N S HALIFAX COM 064149107 460 8,018 SH   SOLE   8,018 0 0
BANK NEW YORK MELLON CORP COM 064058100 6,458 213,900 SH   SOLE   213,900 0 0
BANK OF AMERICA CORPORATION COM 060505104 5,726 414,940 SH   SOLE   414,940 0 0
BARCLAYS PLC ADR 06738E204 170 10,000 SH   SOLE   10,000 0 0
BARRICK GOLD CORP COM 067901108 282 15,100 SH   SOLE   15,100 0 0
BCE INC COM NEW 05534B760 209 4,872 SH   SOLE   4,872 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 2,386 14 SH   SOLE   14 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 3,137 27,632 SH   SOLE   27,632 0 0
BLACKHAWK NETWORK HLDGS INC CL A 09238E104 240 10,000 SH   SOLE   10,000 0 0
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 249 10,000 SH   SOLE   10,000 0 0
BROOKFIELD INFRAST PARTNERS LP INT UNIT G16252101 229 6,000 SH   SOLE   6,000 0 0
BROOKFIELD RESIDENTIAL PPTYS COM 11283W104 3,007 129,654 SH   SOLE   129,654 0 0
BRUNSWICK CORP COM 117043109 319 8,000 SH   SOLE   8,000 0 0
CAE INC COM 124765108 1,097 100,000 SH   SOLE   100,000 0 0
CAMECO CORP COM 13321L108 6,671 369,300 SH   SOLE   369,300 0 0
CANADIAN NAT RES LTD COM 136385101 837 26,600 SH   SOLE   26,600 0 0
CARMIKE CINEMAS INC COM 143436400 3,356 152,000 SH   SOLE   152,000 0 0
CATERPILLAR INC DEL COM 149123101 250 3,000 SH   SOLE   3,000 0 0
CDN IMPERIAL BK OF COMMERCE COM 136069101 394 4,932 SH   SOLE   4,932 0 0
CENOVUS ENERGY INC COM 15135U109 4,841 161,980 SH   SOLE   161,980 0 0
CINEMARK HOLDINGS INC COM 17243V102 1,079 34,000 SH   SOLE   34,000 0 0
CITIGROUP INC COM NEW 172967424 5,188 106,957 SH   SOLE   106,957 0 0
CLEAN HARBORS INC COM 184496107 393 6,700 SH   SOLE   6,700 0 0
COCA COLA CO COM 191216100 2,087 55,100 SH   SOLE   55,100 0 0
COMPUWARE CORP COM 205638109 593 53,000 SH   SOLE   53,000 0 0
CORNING INC COM 219350105 3,341 229,000 SH   SOLE   229,000 0 0
CREDIT SUISSE GROUP SPONSORED ADR 225401108 309 10,121 SH   SOLE   10,121 0 0
CREE INC COM 225447101 843 14,000 SH   SOLE   14,000 0 0
CST BRANDS INC COM 12646R105 2,712 91,000 SH   SOLE   91,000 0 0
CSX CORP COM 126408103 1,544 60,000 SH   SOLE   60,000 0 0
CVR REFNG LP COMUNIT REP LT 12663P107 1,372 55,000 SH   SOLE   55,000 0 0
CVS CAREMARK CORPORATION COM 126650100 1,118 19,700 SH   SOLE   19,700 0 0
DEERE & CO COM 244199105 285 3,500 SH   SOLE   3,500 0 0
E M C CORP MASS COM 268648102 542 21,200 SH   SOLE   21,200 0 0
E TRADE FINANCIAL CORP COM NEW 269246401 3,772 228,600 SH   SOLE   228,600 0 0
EMERSON ELEC CO COM 291011104 3,882 60,000 SH   SOLE   60,000 0 0
ENBRIDGE INC COM 29250N105 276 6,598 SH   SOLE   6,598 0 0
ENCANA CORP COM 292505104 2,495 144,180 SH   SOLE   144,180 0 0
ENERPLUS CORP COM 292766102 785 47,381 SH   SOLE   47,381 0 0
ENTROPIC COMMUNICATIONS INC COM 29384R105 57 13,000 SH   SOLE   13,000 0 0
EVERCORE PARTNERS INC CLASS A 29977A105 246 5,000 SH   SOLE   5,000 0 0
EXXON MOBIL CORP COM 30231G102 323 3,750 SH   SOLE   3,750 0 0
FACEBOOK INC CL A 30303M102 3,617 72,000 SH   SOLE   72,000 0 0
FIRSTSERVICE CORP SUB VTG SH 33761N109 699 18,000 SH   SOLE   18,000 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 5,174 306,700 SH   SOLE   306,700 0 0
FORTRESS INVESTMENT GROUP LL CL A 34958B106 4,501 566,900 SH   SOLE   566,900 0 0
GENERAL DYNAMICS CORP COM 369550108 1,750 20,000 SH   SOLE   20,000 0 0
GENERAL ELECTRIC CO COM 369604103 5,622 235,322 SH   SOLE   235,322 0 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 3,010 60,000 SH   SOLE   60,000 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 331 2,095 SH   SOLE   2,095 0 0
GOOGLE INC CL A 38259P508 5,400 6,165 SH   SOLE   6,165 0 0
GRAN TIERRA ENERGY INC COM 38500T101 744 105,000 SH   SOLE   105,000 0 0
GRANITE REAL ESTATE INVT TR UNIT 99/99/9999 387437114 1,455 40,500 SH   SOLE   40,500 0 0
HEICO CORP NEW COM 422806109 948 14,000 SH   SOLE   14,000 0 0
HOSPIRA INC COM 441060100 1,569 40,000 SH   SOLE   40,000 0 0
HUNTINGTON BANCSHARES INC COM 446150104 83 10,000 SH   SOLE   10,000 0 0
IMAX CORP COM 45245E109 785 26,000 SH   SOLE   26,000 0 0
INTEL CORP COM 458140100 7,244 316,028 SH   SOLE   316,028 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 620 3,348 SH   SOLE   3,348 0 0
INTUIT COM 461202103 1,472 22,200 SH   SOLE   22,200 0 0
IROBOT CORP COM 462726100 775 20,600 SH   SOLE   20,600 0 0
JOHNSON & JOHNSON COM 478160104 1,373 15,835 SH   SOLE   15,835 0 0
JPMORGAN CHASE & CO COM 46625H100 5,987 115,833 SH   SOLE   115,833 0 0
KAR AUCTION SVCS INC COM 48238T109 7,730 274,000 SH   SOLE   274,000 0 0
KIMBERLY CLARK CORP COM 494368103 1,719 18,240 SH   SOLE   18,240 0 0
KKR & CO L P DEL COM UNITS 48248M102 247 12,000 SH   SOLE   12,000 0 0
LAZARD LTD SHS A G54050102 3,962 110,000 SH   SOLE   110,000 0 0
LEGG MASON INC COM 524901105 301 9,000 SH   SOLE   9,000 0 0
M D C HLDGS INC COM 552676108 600 20,000 SH   SOLE   20,000 0 0
MAGNA INTL INC COM 559222401 7,623 92,296 SH   SOLE   92,296 0 0
MANULIFE FINL CORP COM 56501R106 410 24,731 SH   SOLE   24,731 0 0
MATTRESS FIRM HLDG CORP COM 57722W106 636 20,000 SH   SOLE   20,000 0 0
MBIA INC COM 55262C100 153 15,000 SH   SOLE   15,000 0 0
MCDONALDS CORP COM 580135101 3,973 41,300 SH   SOLE   41,300 0 0
MERCK & CO INC NEW COM 58933Y105 6,192 130,050 SH   SOLE   130,050 0 0
MICROSOFT CORP COM 594918104 7,283 218,831 SH   SOLE   218,831 0 0
MONDELEZ INTL INC CL A 609207105 226 7,200 SH   SOLE   7,200 0 0
NATIONAL FUEL GAS CO N J COM 636180101 7,313 106,362 SH   SOLE   106,362 0 0
NEW RESIDENTIAL INVT CORP COM 64828T102 993 150,000 SH   SOLE   150,000 0 0
NEWCASTLE INVT CORP COM 65105M108 281 50,000 SH   SOLE   50,000 0 0
NORTH AMERN ENERGY PARTNERS COM 656844107 1,240 227,800 SH   SOLE   227,800 0 0
NUCOR CORP COM 670346105 312 6,365 SH   SOLE   6,365 0 0
OAKTREE CAP GROUP LLC UNIT 99/99/9999 674001201 2,612 49,900 SH   SOLE   49,900 0 0
OCH ZIFF CAP MGMT GROUP CL A 67551U105 1,810 164,700 SH   SOLE   164,700 0 0
OPENTABLE INC COM 68372A104 560 8,005 SH   SOLE   8,005 0 0
PEMBINA PIPELINE CORP COM 706327103 273 8,210 SH   SOLE   8,210 0 0
PENGROWTH ENERGY CORP COM 70706P104 307 52,100 SH   SOLE   52,100 0 0
PEPSICO INC COM 713448108 2,329 29,300 SH   SOLE   29,300 0 0
PFIZER INC COM 717081103 6,746 234,980 SH   SOLE   234,980 0 0
PINNACLE ENTMT INC COM 723456109 626 25,000 SH   SOLE   25,000 0 0
POST HLDGS INC COM 737446104 1,211 30,000 SH   SOLE   30,000 0 0
POTASH CORP SASK INC COM 73755L107 4,486 143,241 SH   SOLE   143,241 0 0
PROCERA NETWORKS INC COM NEW 74269U203 522 33,700 SH   SOLE   33,700 0 0
PROCTER & GAMBLE CO COM 742718109 1,618 21,400 SH   SOLE   21,400 0 0
PROSHARES TR SHRT 20+YR TRE 74347X849 1,098 34,270 SH   SOLE   34,270 0 0
QUALCOMM INC COM 747525103 1,750 26,000 SH   SOLE   26,000 0 0
RAYMOND JAMES FINANCIAL INC COM 754730109 6,651 159,600 SH   SOLE   159,600 0 0
RITE AID CORP COM 767754104 2,380 500,000 SH   SOLE   500,000 0 0
ROGERS COMMUNICATIONS INC CL B 775109200 254 5,897 SH   SOLE   5,897 0 0
ROYAL BK CDA MONTREAL QUE COM 780087102 736 11,476 SH   SOLE   11,476 0 0
ROYAL BK SCOTLAND GROUP PLC SPONS ADR 20 ORD 780097689 116 10,000 SH   SOLE   10,000 0 0
SCHWAB CHARLES CORP NEW COM 808513105 1,374 65,000 SH   SOLE   65,000 0 0
SEARS HOMETOWN & OUTLET STOR COM 812362101 1,386 43,650 SH   SOLE   43,650 0 0
SELECT COMFORT CORP COM 81616X103 609 25,000 SH   SOLE   25,000 0 0
SHAW COMMUNICATIONS INC CL B CONV 82028K200 5,769 248,041 SH   SOLE   248,041 0 0
SIEMENS A G SPONSORED ADR 826197501 1,808 15,000 SH   SOLE   15,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 1,228 7,304 SH   SOLE   7,304 0 0
STIFEL FINL CORP COM 860630102 206 5,000 SH   SOLE   5,000 0 0
SUNCOR ENERGY INC NEW COM 867224107 1,572 43,897 SH   SOLE   43,897 0 0
TD AMERITRADE HLDG CORP COM 87236Y108 4,605 175,900 SH   SOLE   175,900 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 790 20,900 SH   SOLE   20,900 0 0
THE ADT CORPORATION COM 00101J106 1,301 32,000 SH   SOLE   32,000 0 0
TOLL BROTHERS INC COM 889478103 324 10,000 SH   SOLE   10,000 0 0
TORONTO DOMINION BK ONT COM NEW 891160509 1,858 20,609 SH   SOLE   20,609 0 0
TOYOTA MOTOR CORP SP ADR REP2COM 892331307 1,152 9,000 SH   SOLE   9,000 0 0
TRANSCANADA CORP COM 89353D107 3,946 89,698 SH   SOLE   89,698 0 0
TUCOWS INC COM 898697107 537 224,508 SH   SOLE   224,508 0 0
UNITED TECHNOLOGIES CORP COM 913017109 2,631 24,400 SH   SOLE   24,400 0 0
UR ENERGY INC COM 91688R108 29 25,000 SH   SOLE   25,000 0 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 221 4,060 SH   SOLE   4,060 0 0
VEECO INSTRS INC DEL COM 922417100 1,612 43,300 SH   SOLE   43,300 0 0
WALGREEN CO COM 931422109 1,272 23,650 SH   SOLE   23,650 0 0
WAL-MART STORES INC COM 931142103 2,110 28,535 SH   SOLE   28,535 0 0
WEIGHT WATCHERS INTL INC NEW COM 948626106 523 14,000 SH   SOLE   14,000 0 0
WELLS FARGO & CO NEW COM 949746101 1,316 31,850 SH   SOLE   31,850 0 0
ZYNGA INC CL A 98986T108 106 29,000 SH   SOLE   29,000 0 0