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
ALLSTATE CORP COM 020002101 28,322 420,400 SH   SOLE   420,400 0 0
ASSURED GUARANTY LTD COM G0585R106 28,776 1,137,400 SH   SOLE   1,137,400 0 0
BANK MONTREAL QUE COM 063671101 24,845 409,100 SH   SOLE   409,100 0 0
BEST BUY INC COM 086516101 477 14,700 SH   SOLE   14,700 0 0
CAN-FITE BIOPHARMA LTD SPONSORED ADR 13471N102 1,543 553,100 SH   SOLE   553,100 0 0
CIPHER PHARMACEUTICALS INC COM 17253X105 5,736 1,193,700 SH   SOLE   1,193,700 0 0
CONCORDIA HEALTHCARE CORP COM 206519100 6,870 268,400 SH   SOLE   268,400 0 0
CSX CORP COM 126408103 9,523 369,800 SH   SOLE   369,800 0 0
DEERE & CO COM 244199105 408 5,300 SH   SOLE   5,300 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 28,064 576,500 SH   SOLE   576,500 0 0
ENBRIDGE INC COM 29250N105 24,558 630,800 SH   SOLE   630,800 0 0
ENCANA CORP COM 292505104 30,370 4,980,100 SH   SOLE   4,980,100 0 0
FRANCO NEVADA CORP COM 351858105 3,071 50,000 SH   SOLE   50,000 0 0
HARMAN INTL INDS INC COM 413086109 668 7,500 SH   SOLE   7,500 0 0
HONEYWELL INTL INC COM 438516106 426 3,800 SH   SOLE   3,800 0 0
HUDBAY MINERALS INC COM 443628102 5,390 1,470,600 SH   SOLE   1,470,600 0 0
JPMORGAN CHASE & CO COM 46625H100 497 8,400 SH   SOLE   8,400 0 0
LABORATORY CORP AMER HLDGS COM NEW 50540R409 3,748 32,000 SH   SOLE   32,000 0 0
MAGNA INTL INC COM 559222401 31,545 734,300 SH   SOLE   734,300 0 0
NXP SEMICONDUCTORS N V COM N6596X109 33,279 410,500 SH   SOLE   410,500 0 0
RAYONIER INC COM 754907103 449 18,200 SH   SOLE   18,200 0 0
REGIONS FINL CORP NEW COM 7591EP100 19,704 2,510,100 SH   SOLE   2,510,100 0 0
ROYAL BK CDA MONTREAL QUE COM 780087102 15,482 268,700 SH   SOLE   268,700 0 0
SCHLUMBERGER LTD COM 806857108 464 6,300 SH   SOLE   6,300 0 0
SEALED AIR CORP NEW COM 81211K100 27,579 574,450 SH   SOLE   574,450 0 0
SMITH A O COM 831865209 603 7,900 SH   SOLE   7,900 0 0
SUNCOR ENERGY INC NEW COM 867224107 15,794 567,100 SH   SOLE   567,100 0 0
TORONTO DOMINION BK ONT COM NEW 891160509 31,222 723,300 SH   SOLE   723,300 0 0
TRANSCANADA CORP COM 89353D107 1,966 50,000 SH   SOLE   50,000 0 0
UNITED RENTALS INC COM 911363109 2,363 38,000 SH   SOLE   38,000 0 0
VISA INC COM CL A 92826C839 1,224 16,000 SH   SOLE   16,000 0 0
WHIRLPOOL CORP COM 963320106 541 3,000 SH   SOLE   3,000 0 0