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
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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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Agrium Inc. COM 8916108 54,013 623,923 SH   SOLE   0 623,923 0
AuRico Gold Inc COM 05155C105 590 150,000 SH   SOLE   0 150,000 0
Bank of Nova Scotia COM 064149107 164,642 2,790,537 SH   SOLE   0 2,790,537 0
Brookfield Residential Properties Inc. COM 11283W104 35,253 1,478,130 SH   SOLE   0 1,478,130 0
B2Gold Corp. COM 11777Q209 838 325,900 SH   SOLE   0 325,900 0
Bellatrix Exploration Ltd. COM 078314101 902 115,080 SH   SOLE   0 115,080 0
Catamaran Corporation COM 148887102 40,125 847,948 SH   SOLE   0 847,948 0
Canadian Imperial Bank of Commerce COM 136069101 68,331 832,700 SH   SOLE   0 832,700 0
Canadian Natural Resources Ltd. COM 136385101 87,440 2,701,270 SH   SOLE   0 2,701,270 0
Canadian National Railway COM 136375102 112,044 1,073,531 SH   SOLE   0 1,073,531 0
Cenovus Energy Inc. COM 15135U109 62,465 2,032,056 SH   SOLE   0 2,032,056 0
Eldorado Gold Corp. COM 284902103 14,790 2,128,120 SH   SOLE   0 2,128,120 0
Enbridge Inc. COM 29250N105 54,330 1,262,890 SH   SOLE   0 1,262,890 0
EXFO Inc. SUB VTG SHS 302046107 262 46,870 SH   SOLE   0 46,870 0
Franco-Nevada Corp. COM 351858105 364 7,800 SH   SOLE   0 7,800 0
Firstservice Corp. Sub Vtg. SUB VTG SH 33761N109 669 16,730 SH   SOLE   0 16,730 0
Goldcorp Inc. COM 380956409 90,035 3,359,500 SH   SOLE   0 3,359,500 0
CGI Group Class A CL A SUB VTG 39945C109 37,174 1,028,317 SH   SOLE   0 1,028,317 0
HudBay Minerals Inc. COM 443628102 412 48,840 SH   SOLE   0 48,840 0
IMAX Corp. COM 45245E109 669 21,550 SH   SOLE   0 21,550 0
Manulife Financial Corp. COM 56501R106 69,491 4,078,130 SH   SOLE   0 4,078,130 0
Magna International Inc. Class A COM 559222401 60,819 715,944 SH   SOLE   0 715,944 0
Open Text Corp. COM 683715106 24,371 316,625 SH   SOLE   0 316,625 0
Precision Drilling Corp. COM 2010 74022D308 24,665 2,413,400 SH   SOLE   0 2,413,400 0
Potash Corp. of Saskatchewan COM 73755L107 39,755 1,234,234 SH   SOLE   0 1,234,234 0
Penn West Petroleum Corp. COM 707887105 23,458 2,052,350 SH   SOLE   0 2,052,350 0
Royal Bank of Canada COM 780087102 176,864 2,679,753 SH   SOLE   0 2,679,753 0
Sun Life Financial Inc. COM 866796105 32,433 985,820 SH   SOLE   0 985,820 0
Stantec Inc. COM 85472N109 784 14,910 SH   SOLE   0 14,910 0
Suncor Energy Inc. COM 867224107 116,591 3,165,664 SH   SOLE   0 3,165,664 0
Telus Corp. COM 87971M103 75,861 2,222,042 SH   SOLE   0 2,222,042 0
Teck Resources Ltd. CL B 878742204 22,406 809,482 SH   SOLE   0 809,482 0
Toronto-Dominion Bank COM NEW 891160509 190,364 2,052,660 SH   SOLE   0 2,052,660 0
Tim Hortons Inc. COM 88706M103 46,633 780,600 SH   SOLE   0 780,600 0
Talisman Energy Inc. COM 87425E103 42,823 3,622,933 SH   SOLE   0 3,622,933 0
Timmins Gold Corp COM 88741P103 504 289,800 SH   SOLE   0 289,800 0
Valeant Pharmaceuticals International COM 91911K102 71,210 663,031 SH   SOLE   0 663,031 0
Wi-LAN Inc. COM 928972108 353 88,410 SH   SOLE   0 88,410 0
Yamana Gold Inc. COM 98462Y100 37,679 3,518,090 SH   SOLE   0 3,518,090 0
Bank of America Corp. COM 060505104 177 12,500 SH   SOLE   0 12,500 0
Brookfield Residential Properites Inc. COM 11283W104 355 15,000 SH   SOLE   0 15,000 0
Citigroup Inc. COM NEW 172967424 299 6,000 SH   SOLE   0 6,000 0
E Trade Financial Group Inc COM NEW 269246401 271 16,000 SH   SOLE   0 16,000 0
Pioneer Natural Resources Co COM 723787107 252 1,300 SH   SOLE   0 1,300 0
Standard Pacific Cp COM 85375C101 81 10,000 SH   SOLE   0 10,000 0