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
AGRIUM INC COM 008916108 40,783 446,400 SH   SOLE   446,400 0 0
APACHE CORP COM 037411105 4,400 51,200 SH   SOLE   51,200 0 0
APOLLO GLOBAL MGMT LLC CL A SHS 037612306 20,379 644,700 SH   SOLE   644,700 0 0
ASSURED GUARANTY LTD COM G0585R106 39,327 1,667,100 SH   SOLE   1,667,100 0 0
BANK MONTREAL QUE COM 063671101 48,088 722,300 SH   SOLE   722,300 0 0
BANK N S HALIFAX COM 064149107 15,464 247,600 SH   SOLE   247,600 0 0
CAMECO CORP COM 13321L108 21,864 1,055,115 SH   SOLE   1,055,115 0 0
CENOVUS ENERGY INC COM 15135U109 28,142 984,600 SH   SOLE   984,600 0 0
CSX CORP COM 126408103 38,154 1,326,200 SH   SOLE   1,326,200 0 0
CUMMINS INC COM 231021106 52,948 375,600 SH   SOLE   375,600 0 0
ENCANA CORP COM 292505104 15,806 876,500 SH   SOLE   876,500 0 0
GENERAL MTRS CO COM 37045V100 53,404 1,306,700 SH   SOLE   1,306,700 0 0
GENWORTH FINL INC COM CL A 37247D106 4,065 261,800 SH   SOLE   261,800 0 0
GILDAN ACTIVEWEAR INC COM 375916103 5,759 108,205 SH   SOLE   108,205 0 0
GOLDCORP INC NEW COM 380956409 13,445 620,640 SH   SOLE   620,640 0 0
GROUPE CGI INC CL A SUB VTG 39945C109 16,350 489,300 SH   SOLE   489,300 0 0
HONEYWELL INTL INC COM 438516106 43,455 475,600 SH   SOLE   475,600 0 0
JPMORGAN CHASE & CO COM 46625H100 49,930 853,800 SH   SOLE   853,800 0 0
MAGNA INTL INC COM 559222401 35,844 437,700 SH   SOLE   437,700 0 0
MANULIFE FINL CORP COM 56501R106 14,863 754,200 SH   SOLE   754,200 0 0
MBIA INC COM 55262C100 48,293 4,044,600 SH   SOLE   4,044,600 0 0
REGIONS FINL CORP NEW COM 7591EP100 31,038 3,138,300 SH   SOLE   3,138,300 0 0
ROYAL CARIBBEAN CRUISES LTD COM V7780T103 53,120 1,120,200 SH   SOLE   1,120,200 0 0
SEALED AIR CORP NEW COM 81211K100 32,382 951,000 SH   SOLE   951,000 0 0
TERADATA CORP DEL COM 88076W103 26,289 577,900 SH   SOLE   577,900 0 0
TEXAS INSTRS INC COM 882508104 7,957 181,200 SH   SOLE   181,200 0 0
TIVO INC COM 888706108 6,412 488,700 SH   SOLE   488,700 0 0
TORONTO DOMINION BK ONT COM NEW 891160509 47,278 502,300 SH   SOLE   502,300 0 0