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 594 3,600 SH   SOLE   3,600 0 0
AAC HLDGS INC COM 000307108 1,560 51,000 SH   SOLE   51,000 0 0
ABBOTT LABS COM 002824100 261 5,630 SH   SOLE   5,630 0 0
ABBVIE INC COM 00287Y109 330 5,630 SH   SOLE   5,630 0 0
ACXIOM CORP COM 005125109 333 18,000 SH   SOLE   18,000 0 0
ADVANTAGE OIL & GAS LTD COM 00765F101 1,163 216,330 SH   SOLE   216,330 0 0
AGILENT TECHNOLOGIES INC COM 00846U101 997 24,000 SH   SOLE   24,000 0 0
ALBEMARLE CORP COM 012653101 793 15,000 SH   SOLE   15,000 0 0
ALLEGHENY TECHNOLOGIES INC COM 01741R102 2,851 95,000 SH   SOLE   95,000 0 0
ALTRIA GROUP INC COM 02209S103 750 15,000 SH   SOLE   15,000 0 0
AMERICAN EXPRESS CO COM 025816109 695 8,900 SH   SOLE   8,900 0 0
APOLLO GLOBAL MGMT LLC CL A SHS 037612306 2,867 132,750 SH   SOLE   132,750 0 0
APPLE INC COM 037833100 9,379 75,374 SH   SOLE   75,374 0 0
APPLIED MATLS INC COM 038222105 5,367 237,900 SH   SOLE   237,900 0 0
ARCTIC CAT INC COM 039670104 1,841 50,700 SH   SOLE   50,700 0 0
ARISTA NETWORKS INC COM 040413106 1,411 20,000 SH   SOLE   20,000 0 0
AT&T INC COM 00206R102 415 12,700 SH   SOLE   12,700 0 0
AUTOMATIC DATA PROCESSING IN COM 053015103 377 4,400 SH   SOLE   4,400 0 0
BAKER HUGHES INC COM 057224107 954 15,000 SH   SOLE   15,000 0 0
BANK AMER CORP COM 060505104 3,964 257,540 SH   SOLE   257,540 0 0
BANK AMER CORP *W EXP 01/16/201 060505146 147 25,000 SH   SOLE   25,000 0 0
BANK MONTREAL QUE COM 063671101 412 6,886 SH   SOLE   6,886 0 0
BANK N S HALIFAX COM 064149107 918 18,315 SH   SOLE   18,315 0 0
BANK NEW YORK MELLON CORP COM 064058100 7,450 185,150 SH   SOLE   185,150 0 0
BARCLAYS PLC ADR 06738E204 146 10,000 SH   SOLE   10,000 0 0
BAYTEX ENERGY CORP COM 07317Q105 5,274 333,955 SH   SOLE   333,955 0 0
BAZAARVOICE INC COM 073271108 113 20,000 SH   SOLE   20,000 0 0
BCE INC COM NEW 05534B760 477 11,279 SH   SOLE   11,279 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 3,263 15 SH   SOLE   15 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 3,764 26,082 SH   SOLE   26,082 0 0
BLACKROCK INC COM 09247X101 384 1,050 SH   SOLE   1,050 0 0
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 292 7,500 SH   SOLE   7,500 0 0
BROADCOM CORP CL A 111320107 260 6,000 SH   SOLE   6,000 0 0
BROOKFIELD PPTY PARTNERS L P UNIT LTD PARTN G16249107 8,830 362,900 SH   SOLE   362,900 0 0
CAE INC COM 124765108 1,748 150,000 SH   SOLE   150,000 0 0
CAMECO CORP COM 13321L108 7,263 521,900 SH   SOLE   521,900 0 0
CANADIAN NAT RES LTD COM 136385101 1,549 50,600 SH   SOLE   50,600 0 0
CARLYLE GROUP L P COM UTS LTD PTN 14309L102 271 10,000 SH   SOLE   10,000 0 0
CARMIKE CINEMAS INC COM 143436400 1,633 48,600 SH   SOLE   48,600 0 0
CARRIAGE SVCS INC COM 143905107 1,456 61,000 SH   SOLE   61,000 0 0
CDN IMPERIAL BK COMM TORONTO COM 136069101 308 4,260 SH   SOLE   4,260 0 0
CHEVRON CORP NEW COM 166764100 1,903 18,125 SH   SOLE   18,125 0 0
CHURCHILL DOWNS INC COM 171484108 1,596 13,880 SH   SOLE   13,880 0 0
CISCO SYS INC COM 17275R102 1,657 60,200 SH   SOLE   60,200 0 0
CIT GROUP INC COM NEW 125581801 873 19,350 SH   SOLE   19,350 0 0
CITIGROUP INC COM NEW 172967424 2,747 53,327 SH   SOLE   53,327 0 0
COCA COLA CO COM 191216100 5,568 137,300 SH   SOLE   137,300 0 0
COMSCORE INC COM 20564W105 205 4,000 SH   SOLE   4,000 0 0
COVANTA HLDG CORP COM 22282E102 6,547 291,900 SH   SOLE   291,900 0 0
CVS HEALTH CORP COM 126650100 2,082 20,175 SH   SOLE   20,175 0 0
DAVE & BUSTERS ENTMT INC COM 238337109 640 21,000 SH   SOLE   21,000 0 0
DENBURY RES INC COM NEW 247916208 926 127,000 SH   SOLE   127,000 0 0
DIAGEO P L C SPON ADR NEW 25243Q205 5,995 54,215 SH   SOLE   54,215 0 0
DINEEQUITY INC COM 254423106 1,637 15,300 SH   SOLE   15,300 0 0
DREW INDS INC COM NEW 26168L205 326 5,300 SH   SOLE   5,300 0 0
E M C CORP MASS COM 268648102 1,467 57,400 SH   SOLE   57,400 0 0
EATON CORP PLC SHS G29183103 516 7,600 SH   SOLE   7,600 0 0
EMERSON ELEC CO COM 291011104 408 7,200 SH   SOLE   7,200 0 0
ENBRIDGE INC COM 29250N105 6,452 134,041 SH   SOLE   134,041 0 0
ENERGIZER HLDGS INC COM 29266R108 1,588 11,500 SH   SOLE   11,500 0 0
ENERPLUS CORP COM 292766102 3,042 300,515 SH   SOLE   300,515 0 0
EVERCORE PARTNERS INC CLASS A 29977A105 387 7,500 SH   SOLE   7,500 0 0
EXXON MOBIL CORP COM 30231G102 336 3,950 SH   SOLE   3,950 0 0
FACEBOOK INC CL A 30303M102 1,768 21,500 SH   SOLE   21,500 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 997 61,800 SH   SOLE   61,800 0 0
FORTRESS INVESTMENT GROUP LL CL A 34958B106 5,697 706,000 SH   SOLE   706,000 0 0
FULTON FINL CORP PA COM 360271100 123 10,000 SH   SOLE   10,000 0 0
GENERAL ELECTRIC CO COM 369604103 3,897 157,063 SH   SOLE   157,063 0 0
GENERAL MTRS CO COM 37045V100 443 11,800 SH   SOLE   11,800 0 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 8,598 186,300 SH   SOLE   186,300 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 1,202 6,395 SH   SOLE   6,395 0 0
GOOGLE INC CL A 38259P508 1,021 1,840 SH   SOLE   1,840 0 0
GOOGLE INC CL C 38259P706 1,406 2,565 SH   SOLE   2,565 0 0
GRAN TIERRA ENERGY INC COM 38500T101 1,689 618,500 SH   SOLE   618,500 0 0
GROUPON INC COM CL A 399473107 216 30,000 SH   SOLE   30,000 0 0
HALLIBURTON CO COM 406216101 338 7,700 SH   SOLE   7,700 0 0
HALYARD HEALTH INC COM 40650V100 7,094 144,181 SH   SOLE   144,181 0 0
HEICO CORP NEW COM 422806109 2,498 40,900 SH   SOLE   40,900 0 0
HELMERICH & PAYNE INC COM 423452101 681 10,000 SH   SOLE   10,000 0 0
HERTZ GLOBAL HOLDINGS INC COM 42805T105 1,388 64,000 SH   SOLE   64,000 0 0
HUNTINGTON BANCSHARES INC COM 446150104 754 68,250 SH   SOLE   68,250 0 0
INTEL CORP COM 458140100 1,403 44,880 SH   SOLE   44,880 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 569 3,543 SH   SOLE   3,543 0 0
INTUIT COM 461202103 2,851 29,400 SH   SOLE   29,400 0 0
JOHNSON & JOHNSON COM 478160104 3,594 35,725 SH   SOLE   35,725 0 0
JPMORGAN CHASE & CO COM 46625H100 2,327 38,407 SH   SOLE   38,407 0 0
KAR AUCTION SVCS INC COM 48238T109 3,436 90,600 SH   SOLE   90,600 0 0
KIMBERLY CLARK CORP COM 494368103 328 3,058 SH   SOLE   3,058 0 0
KKR & CO L P DEL COM UNITS 48248M102 228 10,000 SH   SOLE   10,000 0 0
KRAFT FOODS GROUP INC COM 50076Q106 619 7,099 SH   SOLE   7,099 0 0
LAZARD LTD SHS A G54050102 5,259 100,000 SH   SOLE   100,000 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 3,113 55,000 SH   SOLE   55,000 0 0
LIBERTY MEDIA CORP DELAWARE COM SER C 531229300 3,247 85,000 SH   SOLE   85,000 0 0
M & T BK CORP COM 55261F104 572 4,500 SH   SOLE   4,500 0 0
MAGNA INTL INC COM 559222401 5,054 94,669 SH   SOLE   94,669 0 0
MALIBU BOATS INC COM CL A 56117J100 736 31,500 SH   SOLE   31,500 0 0
MANULIFE FINL CORP COM 56501R106 2,121 125,078 SH   SOLE   125,078 0 0
MARINEMAX INC COM 567908108 2,145 80,900 SH   SOLE   80,900 0 0
MASTERCARD INC CL A 57636Q104 259 3,000 SH   SOLE   3,000 0 0
MATERIALISE NV SPONSORED ADS 57667T100 559 80,000 SH   SOLE   80,000 0 0
MBIA INC COM 55262C100 749 80,500 SH   SOLE   80,500 0 0
MCDONALDS CORP COM 580135101 4,861 49,890 SH   SOLE   49,890 0 0
MERCK & CO INC NEW COM 58933Y105 3,164 55,050 SH   SOLE   55,050 0 0
MERUS LABS INTL INC NEW COM 59047R101 632 300,000 SH   SOLE   300,000 0 0
METHES ENERGIES INTL LTD COM 591517107 40 48,657 SH   SOLE   48,657 0 0
MICROSOFT CORP COM 594918104 5,250 129,131 SH   SOLE   129,131 0 0
MONDELEZ INTL INC CL A 609207105 260 7,200 SH   SOLE   7,200 0 0
MORGAN STANLEY COM NEW 617446448 1,702 47,700 SH   SOLE   47,700 0 0
NATIONSTAR MTG HLDGS INC COM 63861C109 248 10,000 SH   SOLE   10,000 0 0
NCR CORP NEW COM 62886E108 260 8,800 SH   SOLE   8,800 0 0
NEW RESIDENTIAL INVT CORP COM NEW 64828T201 1,543 102,650 SH   SOLE   102,650 0 0
NORTH AMERN ENERGY PARTNERS COM 656844107 949 328,800 SH   SOLE   328,800 0 0
NUCOR CORP COM 670346105 303 6,365 SH   SOLE   6,365 0 0
NXP SEMICONDUCTORS N V COM N6596X109 1,204 12,000 SH   SOLE   12,000 0 0
OAKTREE CAP GROUP LLC UNIT CL A 674001201 3,389 65,600 SH   SOLE   65,600 0 0
OCH ZIFF CAP MGMT GROUP CL A 67551U105 3,791 299,950 SH   SOLE   299,950 0 0
OFFICE DEPOT INC COM 676220106 785 85,300 SH   SOLE   85,300 0 0
PEMBINA PIPELINE CORP COM 706327103 259 8,210 SH   SOLE   8,210 0 0
PENGROWTH ENERGY CORP COM 70706P104 34 11,200 SH   SOLE   11,200 0 0
PEPSICO INC COM 713448108 899 9,405 SH   SOLE   9,405 0 0
PERFORMANCE SPORTS GROUP LTD COM 71377G100 1,978 101,500 SH   SOLE   101,500 0 0
PFIZER INC COM 717081103 8,649 248,606 SH   SOLE   248,606 0 0
PHILLIPS 66 COM 718546104 2,594 33,000 SH   SOLE   33,000 0 0
POOL CORPORATION COM 73278L105 363 5,200 SH   SOLE   5,200 0 0
POTASH CORP SASK INC COM 73755L107 560 17,400 SH   SOLE   17,400 0 0
PRECISION DRILLING CORP COM 2010 74022D308 930 146,750 SH   SOLE   146,750 0 0
PROCTER & GAMBLE CO COM 742718109 524 6,400 SH   SOLE   6,400 0 0
PROGRESSIVE WASTE SOLUTIONS COM 74339G101 1,187 40,500 SH   SOLE   40,500 0 0
PROSHARES TR SHRT 20+YR TRE 74347X849 541 22,570 SH   SOLE   22,570 0 0
QUALYS INC COM 74758T303 232 5,000 SH   SOLE   5,000 0 0
RAYMOND JAMES FINANCIAL INC COM 754730109 9,127 160,750 SH   SOLE   160,750 0 0
REALOGY HLDGS CORP COM 75605Y106 3,893 85,600 SH   SOLE   85,600 0 0
RITE AID CORP COM 767754104 5,007 576,200 SH   SOLE   576,200 0 0
ROGERS COMMUNICATIONS INC CL B 775109200 310 9,262 SH   SOLE   9,262 0 0
ROYAL BK CDA MONTREAL QUE COM 780087102 829 13,797 SH   SOLE   13,797 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 704 11,805 SH   SOLE   11,805 0 0
SALESFORCE COM INC COM 79466L302 468 7,000 SH   SOLE   7,000 0 0
SCHLUMBERGER LTD COM 806857108 299 3,580 SH   SOLE   3,580 0 0
SELECT COMFORT CORP COM 81616X103 707 20,500 SH   SOLE   20,500 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 566 7,300 SH   SOLE   7,300 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 1,111 46,100 SH   SOLE   46,100 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 1,133 27,350 SH   SOLE   27,350 0 0
SEMICONDUCTOR MFG INTL CORP SPONSORED ADR 81663N206 95 20,000 SH   SOLE   20,000 0 0
SERVICE CORP INTL COM 817565104 2,618 100,500 SH   SOLE   100,500 0 0
SHAW COMMUNICATIONS INC CL B CONV 82028K200 5,237 233,701 SH   SOLE   233,701 0 0
SIX FLAGS ENTMT CORP NEW COM 83001A102 2,062 42,600 SH   SOLE   42,600 0 0
SOTHEBYS COM 835898107 456 10,800 SH   SOLE   10,800 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 2,946 14,270 SH   SOLE   14,270 0 0
SPECTRUM BRANDS HLDGS INC COM 84763R101 2,714 30,300 SH   SOLE   30,300 0 0
STATE STR CORP COM 857477103 728 9,900 SH   SOLE   9,900 0 0
STERICYCLE INC COM 858912108 730 5,200 SH   SOLE   5,200 0 0
STERIS CORP COM 859152100 738 10,500 SH   SOLE   10,500 0 0
STIFEL FINL CORP COM 860630102 418 7,500 SH   SOLE   7,500 0 0
SUNCOR ENERGY INC NEW COM 867224107 8,396 287,710 SH   SOLE   287,710 0 0
TEMPUR SEALY INTL INC COM 88023U101 1,461 25,300 SH   SOLE   25,300 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 1,302 20,900 SH   SOLE   20,900 0 0
TEXAS INSTRS INC COM 882508104 1,087 19,000 SH   SOLE   19,000 0 0
THOR INDS INC COM 885160101 272 4,300 SH   SOLE   4,300 0 0
TORONTO DOMINION BK ONT COM NEW 891160509 1,744 40,804 SH   SOLE   40,804 0 0
TOYOTA MOTOR CORP SP ADR REP2COM 892331307 1,637 11,700 SH   SOLE   11,700 0 0
TRANSALTA CORP COM 89346D107 171 18,500 SH   SOLE   18,500 0 0
TRANSCANADA CORP COM 89353D107 3,712 86,922 SH   SOLE   86,922 0 0
TUCOWS INC COM NEW 898697206 1,066 56,127 SH   SOLE   56,127 0 0
TWITTER INC COM 90184L102 1,202 24,000 SH   SOLE   24,000 0 0
UNITED TECHNOLOGIES CORP COM 913017109 1,014 8,650 SH   SOLE   8,650 0 0
UR ENERGY INC COM 91688R108 24 25,000 SH   SOLE   25,000 0 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 703 12,960 SH   SOLE   12,960 0 0
VCA INC COM 918194101 1,403 25,600 SH   SOLE   25,600 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 7,275 149,600 SH   SOLE   149,600 0 0
WABCO HLDGS INC COM 92927K102 621 5,050 SH   SOLE   5,050 0 0
WABTEC CORP COM 929740108 979 10,300 SH   SOLE   10,300 0 0
WADDELL & REED FINL INC CL A 930059100 461 9,300 SH   SOLE   9,300 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 2,418 28,550 SH   SOLE   28,550 0 0
WAL-MART STORES INC COM 931142103 2,347 28,535 SH   SOLE   28,535 0 0
WELLS FARGO & CO NEW COM 949746101 362 6,650 SH   SOLE   6,650 0 0
WYNN RESORTS LTD COM 983134107 629 5,000 SH   SOLE   5,000 0 0
XILINX INC COM 983919101 296 7,000 SH   SOLE   7,000 0 0
YUM BRANDS INC COM 988498101 433 5,500 SH   SOLE   5,500 0 0
ZIONS BANCORPORATION COM 989701107 756 28,000 SH   SOLE   28,000 0 0
ZYNGA INC CL A 98986T108 2,294 805,000 SH   SOLE   805,000 0 0