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
AFLAC INC COM 001055102 527 8,800 SH   SOLE   8,800 0 0
ALLSTATE CORP COM 020002101 29,387 473,300 SH   SOLE   473,300 0 0
ALPHABET INC CAP STK CL C 02079K107 3,725 4,908 SH   SOLE   4,908 0 0
AMAZON COM INC COM 023135106 33,051 48,900 SH   SOLE   48,900 0 0
ASSURED GUARANTY LTD COM G0585R106 30,884 1,168,500 SH   SOLE   1,168,500 0 0
BANK MONTREAL QUE COM 063671101 29,788 528,000 SH   SOLE   528,000 0 0
BEST BUY INC COM 086516101 1,845 60,600 SH   SOLE   60,600 0 0
CAN-FITE BIOPHARMA LTD SPONSORED ADR 13471N102 1,658 568,000 SH   SOLE   568,000 0 0
CIPHER PHARMACEUTICALS INC COM 17253X105 2,986 636,700 SH   SOLE   636,700 0 0
CSX CORP COM 126408103 27,948 1,077,000 SH   SOLE   1,077,000 0 0
DEERE & CO COM 244199105 404 5,300 SH   SOLE   5,300 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 31,002 611,600 SH   SOLE   611,600 0 0
ENBRIDGE INC COM 29250N105 3,573 107,500 SH   SOLE   107,500 0 0
ENCANA CORP COM 292505104 23,948 4,714,600 SH   SOLE   4,714,600 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 345 24,500 SH   SOLE   24,500 0 0
HONEYWELL INTL INC COM 438516106 394 3,800 SH   SOLE   3,800 0 0
HUDBAY MINERALS INC COM 443628102 5,955 1,552,200 SH   SOLE   1,552,200 0 0
JPMORGAN CHASE & CO COM 46625H100 694 10,500 SH   SOLE   10,500 0 0
MANULIFE FINL CORP COM 56501R106 3,267 218,000 SH   SOLE   218,000 0 0
MDC PARTNERS INC CL A SUB VTG 552697104 563 25,900 SH   SOLE   25,900 0 0
NXP SEMICONDUCTORS N V COM N6596X109 36,750 436,200 SH   SOLE   436,200 0 0
PFIZER INC COM 717081103 13,516 418,700 SH   SOLE   418,700 0 0
REGIONS FINL CORP NEW COM 7591EP100 28,156 2,932,900 SH   SOLE   2,932,900 0 0
ROYAL BK CDA MONTREAL QUE COM 780087102 7,651 142,800 SH   SOLE   142,800 0 0
SCHLUMBERGER LTD COM 806857108 223 3,200 SH   SOLE   3,200 0 0
SEALED AIR CORP NEW COM 81211K100 27,882 625,150 SH   SOLE   625,150 0 0
SMITH A O COM 831865209 605 7,900 SH   SOLE   7,900 0 0
SUNCOR ENERGY INC NEW COM 867224107 16,683 646,400 SH   SOLE   646,400 0 0
TORONTO DOMINION BK ONT COM NEW 891160509 30,835 786,800 SH   SOLE   786,800 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 19,632 193,300 SH   SOLE   193,300 0 0
VISA INC COM CL A 92826C839 1,699 21,900 SH   SOLE   21,900 0 0
WHIRLPOOL CORP COM 963320106 441 3,000 SH   SOLE   3,000 0 0