-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WkUjTzzPpKp43U5mP2EKP2rhpGhUNLbDNNIjmmOtuCV00Dt2QCeOGn91mVQP39iS 8wKiapVWvU4WYGXBx/dexQ== 0001144204-10-005127.txt : 20100203 0001144204-10-005127.hdr.sgml : 20100203 20100203154041 ACCESSION NUMBER: 0001144204-10-005127 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20091231 FILED AS OF DATE: 20100203 DATE AS OF CHANGE: 20100203 EFFECTIVENESS DATE: 20100203 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CANADA PENSION PLAN INVESTMENT BOARD CENTRAL INDEX KEY: 0001283718 IRS NUMBER: 980361334 STATE OF INCORPORATION: A6 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-12303 FILM NUMBER: 10570538 MAIL ADDRESS: STREET 1: ONE QUEEN STREET EAST STREET 2: STE 2700 CITY: TORONTO ONTARIO STATE: A6 ZIP: 0000 13F-HR 1 v173077_13fhr.txt 13F-HR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2009 ----------------- Check here if Amendment [_]; Amendment Number; ____________ This Amendment (Check only one.): [_] is a restatement. [_] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Canada Pension Plan Investment Board ------------------------------------ Address: One Queen Street East, Suite 2600 ------------------------------------ Toronto, Ontario, M5C 2W ------------------------------------ Canada. ------------------------------------ Form 13F File Number: 28-12303 -------- The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: John H. Butler ------------------------------------------------------------- Title: Senior Vice President - General Counsel & Corporate Secretary ------------------------------------------------------------- Phone: 416-868-1171 ------------------------------------------------------------- Signature, Place, and Date of Signing: /s/ John H. Butler Toronto, Ontario 3 February 2010 - -------------------------------------------------------------------------------- [Signature] [City, State] [Date] Report Type (Check only one.): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [_] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [_] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 ----------- Form 13F Information Table Entry Total: 887 ----------- Form 13F Information Table Value Total: $14,600,133 ----------- (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. NONE.
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- AFLAC INC COM COM 001055102 22,573.10 488,067 Sole N/A 488,067 AGCO CORP COM COM 001084102 22.83 706 Sole N/A 706 AU OPTRONICS CORP SPONSORED ADR SPONSORED ADR 002255107 9,485.24 791,096 Sole N/A 791,096 ABBOTT LABS COM COM 002824100 33,277.87 616,371 Sole N/A 616,371 AEROPOSTALE COM COM 007865108 762.72 22,400 Sole N/A 22,400 ADVANCED MICRO DEVICES INC COM COM 007903107 2.72 281 Sole N/A 281 AFFILIATED COMPUTER SERVICES CL A CL A 008190100 8,173.95 136,940 Sole N/A 136,940 AGNICO EAGLE MINES LTD COM COM 008474108 14,947.20 276,800 Sole N/A 276,800 AGRIUM INC COM COM 008916108 113,586.07 1,820,207 Sole N/A 1,820,207 AIR PRODS & CHEMS INC COM COM 009158106 26.99 333 Sole N/A 333 AIRGAS INC COM COM 009363102 52.36 1,100 Sole N/A 1,100 ALCOA INC COM COM 013817101 12,035.56 746,623 Sole N/A 746,623 ALCATEL-LUCENT SPONSORED ADR SPONSORED ADR REPSTG 1/5 SH 013904305 851.79 256,564 Sole N/A 256,564 ALLEGHENY ENERGY INC COM COM 017361106 15.00 639 Sole N/A 639 ALLERGAN INC COM COM 018490102 1,100.91 17,472 Sole N/A 17,472 ALLIANCE DATA SYSTEMS CORP COM COM 018581108 1,611.07 24,943 Sole N/A 24,943 ALLSTATE CORP COM COM 020002101 2,901.26 96,580 Sole N/A 96,580 ALTERA CORP COM COM 021441100 8,339.34 368,508 Sole N/A 368,508 AMEREN CORP COM COM 023608102 3,828.28 136,969 Sole N/A 136,969 AMERICAN ELEC PWR INC COM COM 025537101 1,836.91 52,800 Sole N/A 52,800 AMERICAN EXPRESS CO COM COM 025816109 52,652.83 1,299,428 Sole N/A 1,299,428 AMERICAN GREETINGS CORP CL A CL A 026375105 1,590.67 73,000 Sole N/A 73,000 AMERICAN INTL GROUP INC COM NEW COMMON STOCK 026874784 42.03 1,402 Sole N/A 1,402 AMERICAN TOWER CORP CL A CL A 029912201 7,186.30 166,311 Sole N/A 166,311 AMETEK INC NEW COM COM 031100100 514.25 13,448 Sole N/A 13,448 AMGEN INC COM COM 031162100 67,277.12 1,189,272 Sole N/A 1,189,272 AMPCO-PITTSBURGH CORP COM COM 032037103 28.38 900 Sole N/A 900
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- AMPHENOL CORP NEW CL A CL A 032095101 2,416.51 52,328 Sole N/A 52,328 AMYLIN PHARMACEUTICALS INC COM COM 032346108 21.29 1,500 Sole N/A 1,500 AMTRUST FINANCIAL SERVICES I COM COM 032359309 309.68 26,200 Sole N/A 26,200 ANADARKO PETE CORP COM COM 032511107 74,576.05 1,194,746 Sole N/A 1,194,746 ANALOG DEVICES INC COM COM 032654105 12,480.10 395,190 Sole N/A 395,190 ANGIOTECH PHARMACEUTICALS IN COM COM 034918102 205.15 164,175 Sole N/A 164,175 AON CORP COM COM 037389103 90.79 2,368 Sole N/A 2,368 APACHE CORP COM COM 037411105 37,434.52 362,843 Sole N/A 362,843 APOLLO GROUP INC CL A CL A 037604105 6,585.05 108,700 Sole N/A 108,700 APPLE INC COM COM NPV 037833100 123,930.45 587,738 Sole N/A 587,738 APPLIED MATLS INC COM COM 038222105 20,391.27 1,462,788 Sole N/A 1,462,788 ARCH COAL INC COM COM 039380100 7,340.16 329,895 Sole N/A 329,895 ARCHER DANIELS MIDLAND CO COM COM 039483102 24,287.86 775,722 Sole N/A 775,722 ARKANSAS BEST CORP DEL COM COM 040790107 5,256.20 178,600 Sole N/A 178,600 ARMOUR RESIDENTIAL REIT INC EXP CALL EXP 11/07/201 ADDED 07NOV11 042315119 0.48 2,500 Sole N/A 2,500 ASHLAND INC NEW COM COM 044209104 16,834.54 424,900 Sole N/A 424,900 ATLAS ACQUISITION HLDGS CORP COM COM 049162100 419.20 41,920 Sole N/A 41,920 ATLAS ACQUISITION HLDGS CORP UNIT 99/99/9999 COM 049162209 40.66 4,000 Sole N/A 4,000 AUGUSTA RES CORP COM NEW COM NEW 050912203 1,063.19 442,300 Sole N/A 442,300 AUTODESK INC COM COM STK NPV 052769106 14,200.76 558,865 Sole N/A 558,865 AUTOMATIC DATA PROCESSING IN COM COM 053015103 4,491.18 104,885 Sole N/A 104,885 AUTOZONE INC COM COM 053332102 1,738.45 10,998 Sole N/A 10,998 AVALONBAY CMNTYS INC COM COM 053484101 727.00 8,854 Sole N/A 8,854 AVERY DENNISON CORP COM COM 053611109 176.58 4,839 Sole N/A 4,839 AVIS BUDGET GROUP COM COM 053774105 432.96 33,000 Sole N/A 33,000 AVNET INC COM COM 053807103 10,032.85 332,654 Sole N/A 332,654
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- AVON PRODS INC COM COM 054303102 14,795.74 469,706 Sole N/A 469,706 BB&T CORP COM COM 054937107 8,977.15 353,849 Sole N/A 353,849 BJ SVCS CO COM COM 055482103 2,154.98 115,859 Sole N/A 115,859 BPW ACQUISITION CORP COM COM 055637102 1,114.07 105,800 Sole N/A 105,800 BPW ACQUISITION CORP UNIT 99/99/9999 UNIT 1 COM + WT EXP 055637201 49.63 4,400 Sole N/A 4,400 BMC SOFTWARE INC COM COM 055921100 13,255.50 330,561 Sole N/A 330,561 BAIDU INC SPON ADR REP A SPONSORED ADR REPSTG ORD SHS 056752108 26,296.10 63,945 Sole N/A 63,945 BAKER HUGHES INC COM COM 057224107 8,428.58 208,216 Sole N/A 208,216 BALL CORP COM COM 058498106 3,379.53 65,368 Sole N/A 65,368 BALLARD PWR SYS INC NEW COM COM I 058586108 265.96 140,109 Sole N/A 140,109 BANCO BRADESCO S A SP ADR PFD NEW SPONSORED ADR REPSTG PFD SHS 059460303 57,070.65 2,609,540 Sole N/A 2,609,540 BANCO DE CHILE SPONSORED ADR SPONSORED ADR REPSTG COM 059520106 7,402.68 137,341 Sole N/A 137,341 BANK OF AMERICA CORPORATION COM COM 060505104 29,544.21 1,961,767 Sole N/A 1,961,767 BANK OF AMERICA CORPORATION UNIT 99/99/9999 ADDED PREFERRED STOCK 060505419 270,798.03 18,150,000 Sole N/A 18,150,000 BANK MONTREAL QUE COM COM 063671101 7,173.32 134,649 Sole N/A 134,649 BANK OF NEW YORK MELLON CORP COM COM 064058100 27,996.60 1,000,951 Sole N/A 1,000,951 BANK NOVA SCOTIA HALIFAX COM COM 064149107 32,105.10 683,815 Sole N/A 683,815 BANRO CORP COM COM 066800103 1,855.43 953,500 Sole N/A 953,500 BARD C R INC COM COM 067383109 4,935.35 63,355 Sole N/A 63,355 BARRICK GOLD CORP COM COM 067901108 435,899.22 11,022,067 Sole N/A 11,022,067 BAXTER INTL INC COM COM 071813109 7,004.81 119,373 Sole N/A 119,373 BAYTEX ENERGY TR PUT TR UNIT 073176959 8,294.44 292,777 Sole N/A 292,777 BECKMAN COULTER INC COM COM 075811109 4,790.21 73,200 Sole N/A 73,200 BECTON DICKINSON & CO COM COM 075887109 2,904.41 36,830 Sole N/A 36,830 BED BATH & BEYOND INC COM COM 075896100 82.17 2,127 Sole N/A 2,127
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- BERKSHIRE HATHAWAY INC DEL CL A CL A 084670108 98,704.01 995 Sole N/A 995 BERKSHIRE HATHAWAY INC DEL CL B CL B 084670207 53,578.24 16,305 Sole N/A 16,305 BEST BUY INC COM COM STK USD0.10 086516101 9.35 237 Sole N/A 237 BLOCK H & R INC COM COM 093671105 7,332.00 324,138 Sole N/A 324,138 BOEING CO COM COM 097023105 3,158.70 58,354 Sole N/A 58,354 BOSTON PROPERTIES INC COM COM 101121101 1,812.30 27,021 Sole N/A 27,021 BOSTON SCIENTIFIC CORP COM COM 101137107 6,141.97 682,441 Sole N/A 682,441 BRISTOL MYERS SQUIBB CO COM COM 110122108 27,001.62 1,069,371 Sole N/A 1,069,371 BROADCOM CORP CL A CL A 111320107 11,210.57 356,457 Sole N/A 356,457 BROOKFIELD ASSET MGMT INC CL A LTD VT SH VOTING SHS CL A 112585104 (362.02) (16,226) Sole N/A (16,226) BROOKFIELD PPTYS CORP COM COM 112900105 15,479.52 1,267,809 Sole N/A 1,267,809 BROWN FORMAN CORP CL B CLASS B 115637209 8,160.27 152,329 Sole N/A 152,329 BUCYRUS INTL INC NEW COM CL A 118759109 2.37 42 Sole N/A 42 CAE INC COM COM 124765108 14,435.60 1,725,606 Sole N/A 1,725,606 CBS CORP NEW CL B CL B 124857202 22,486.32 1,600,450 Sole N/A 1,600,450 CF INDS HLDGS INC COM COM 125269100 10,666.74 117,501 Sole N/A 117,501 CIGNA CORP COM COM 125509109 9,024.08 255,857 Sole N/A 255,857 CNA FINL CORP COM COM 126117100 62.40 2,600 Sole N/A 2,600 CPFL ENERGIA S A SPONSORED ADR SPONSORED ADR 126153105 8,589.40 139,032 Sole N/A 139,032 CSX CORP COM COM 126408103 5,872.87 121,115 Sole N/A 121,115 CVS CAREMARK CORPORATION COM COM 126650100 24,548.95 762,153 Sole N/A 762,153 CABOT OIL & GAS CORP COM COM 127097103 69.22 1,588 Sole N/A 1,588 CALPINE CORP COM NEW COM NEW 131347304 2,556.33 232,394 Sole N/A 232,394 CAMPBELL SOUP CO COM COM 134429109 9,969.82 294,965 Sole N/A 294,965 CDN IMPERIAL BK OF COMMERCE COM COM 136069101 53,964.59 830,136 Sole N/A 830,136 CANADIAN NATL RY CO COM COM 136375102 205,271.20 3,752,983 Sole N/A 3,752,983 CANADIAN NAT RES LTD COM COM 136385101 328,583.48 4,532,506 Sole N/A 4,532,506
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- CANADIAN SOLAR INC COM COM 136635109 1,397.77 48,500 Sole N/A 48,500 CANADIAN SUPERIOR ENERGY INC COM COM 136644101 1,393.49 2,282,600 Sole N/A 2,282,600 CARNIVAL CORP PAIRED CTF PAIRED 1 COM CARN +1 TR SH BEN 143658300 123.59 3,900 Sole N/A 3,900 CASEYS GEN STORES INC COM COM 147528103 2,694.05 84,400 Sole N/A 84,400 CATERPILLAR INC DEL COM COM 149123101 3,913.10 68,663 Sole N/A 68,663 CELANESE CORP DEL COM SER A COM SER A 150870103 1,892.10 58,944 Sole N/A 58,944 CELGENE CORP COM COM 151020104 7.74 139 Sole N/A 139 CENTURYTEL INC COM COM 156700106 34,301.74 947,300 Sole N/A 947,300 CEPHALON INC COM COM 156708109 51.74 829 Sole N/A 829 CERNER CORP COM COM 156782104 7,098.08 86,100 Sole N/A 86,100 CHARLES RIV LABS INTL INC COM COM 159864107 1,128.62 33,500 Sole N/A 33,500 CHESAPEAKE ENERGY CORP COM COM 165167107 85.43 3,301 Sole N/A 3,301 CHEVRON CORP NEW COM COM 166764100 154,213.14 2,003,028 Sole N/A 2,003,028 CHIQUITA BRANDS INTL INC COM COM 170032809 2,101.66 116,500 Sole N/A 116,500 CHUBB CORP COM COM 171232101 17,507.20 355,982 Sole N/A 355,982 CIMAREX ENERGY CO COM COM 171798101 10,081.83 190,331 Sole N/A 190,331 CINCINNATI FINL CORP COM COM 172062101 12,690.27 483,623 Sole N/A 483,623 CINTAS CORP COM COM 172908105 3,291.91 126,369 Sole N/A 126,369 CITIGROUP INC COM COM 172967101 42,021.09 12,695,191 Sole N/A 12,695,191 CITRIX SYS INC COM COM 177376100 3,505.56 84,248 Sole N/A 84,248 CLAUDE RES INC COM COM 182873109 0.00 1 Sole N/A 1 CLOROX CO DEL COM COM 189054109 30,663.36 502,678 Sole N/A 502,678 COACH INC COM COM 189754104 21.66 593 Sole N/A 593 COCA COLA CO COM COM 191216100 209,404.51 3,673,763 Sole N/A 3,673,763 COCA COLA ENTERPRISES INC COM COM STK 191219104 23,183.09 1,093,542 Sole N/A 1,093,542 COGNIZANT TECHNOLOGY SOLUTIO CL A CL A 192446102 14,624.16 322,829 Sole N/A 322,829 COLEMAN CABLE INC COM COM 193459302 8.88 2,700 Sole N/A 2,700
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- COLGATE PALMOLIVE CO COM COM 194162103 8,401.97 102,276 Sole N/A 102,276 COMERICA INC COM COM 200340107 4,998.87 169,052 Sole N/A 169,052 COMPANHIA ENERGETICA DE MINA SP ADR SPON ADR PAR N-V PFD .01 REP NON VTG 204409601 19,647.60 1,087,907 Sole N/A 1,087,907 COMPANIA CERVECERIAS UNIDAS SPONSORED ADR SPONSORED ADR 204429104 1,758.05 45,055 Sole N/A 45,055 COMPANIA DE MINAS BUENAVENTU SPONSORED ADR SPONSORED ADR REPR SER B 204448104 12,354.61 369,125 Sole N/A 369,125 COMPTON PETE CORP COM COM 204940100 2,936.44 3,274,908 Sole N/A 3,274,908 COMPUTER SCIENCES CORP COM COM 205363104 25,261.66 439,104 Sole N/A 439,104 COMSTOCK RES INC COM NEW COM NEW 205768203 22,228.31 547,900 Sole N/A 547,900 CONAGRA FOODS INC COM COM 205887102 2,528.68 109,704 Sole N/A 109,704 CONSOLIDATED EDISON INC COM COM 209115104 557.43 12,270 Sole N/A 12,270 CONSTELLATION ENERGY GROUP I COM COM 210371100 921.49 26,201 Sole N/A 26,201 CONTINENTAL RESOURCES INC COM COM 212015101 1,290.99 30,100 Sole N/A 30,100 CORNING INC COM COM 219350105 6,489.44 336,066 Sole N/A 336,066 CORUS ENTERTAINMENT INC COM CL B NON COM CL B NON VTG VTG 220874101 11,515.48 608,174 Sole N/A 608,174 COVANCE INC COM COM 222816100 43.66 800 Sole N/A 800 COVENTRY HEALTH CARE INC COM COM 222862104 12,105.31 498,366 Sole N/A 498,366 CROWN CASTLE INTL CORP COM COM 228227104 5,456.82 139,775 Sole N/A 139,775 CROWN HOLDINGS INC COM COM 228368106 3,854.91 150,700 Sole N/A 150,700 CUMMINS INC COM COM 231021106 3,980.97 86,807 Sole N/A 86,807 CYPRESS SEMICONDUCTOR CORP COM COM 232806109 2,996.93 283,800 Sole N/A 283,800 CYTEC INDS INC COM COM 232820100 2,072.30 56,900 Sole N/A 56,900 DTE ENERGY CO COM COM 233331107 9,062.49 207,903 Sole N/A 207,903 DANAHER CORP DEL COM COM 235851102 2,447.76 32,550 Sole N/A 32,550 DEAN FOODS CO NEW COM COM 242370104 13,845.70 767,500 Sole N/A 767,500
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- DEERE & CO COM COM 244199105 3,179.84 58,788 Sole N/A 58,788 DELTA AIR LINES INC DEL COM NEW COM NEW 247361702 1,693.34 148,800 Sole N/A 148,800 DENBURY RES INC COM NEW COM NEW 247916208 12.36 835 Sole N/A 835 DENISON MINES CORP COM COM 248356107 5,534.29 4,395,358 Sole N/A 4,395,358 DENTSPLY INTL INC NEW COM COM 249030107 982.83 27,945 Sole N/A 27,945 DESCARTES SYS GROUP INC COM COM 249906108 302.63 50,200 Sole N/A 50,200 DISNEY WALT CO COM DISNEY DISNEY COM 254687106 12.55 389 Sole N/A 389 DISCOVER FINL SVCS COM COM 254709108 17,600.81 1,196,520 Sole N/A 1,196,520 DR REDDYS LABS LTD ADR SPONSERED ADR 256135203 2,931.18 121,073 Sole N/A 121,073 DONNELLEY R R & SONS CO COM COM 257867101 15,517.63 696,795 Sole N/A 696,795 DOVER CORP COM COM 260003108 8,562.17 205,772 Sole N/A 205,772 DOW CHEM CO COM COM 260543103 26,753.74 968,286 Sole N/A 968,286 DRESSER-RAND GROUP INC COM COM 261608103 1,242.27 39,300 Sole N/A 39,300 DU PONT E I DE NEMOURS & CO COM COM 263534109 26,362.06 782,954 Sole N/A 782,954 E M C CORP MASS COM COM 268648102 36,001.18 2,060,743 Sole N/A 2,060,743 EXCO RESOURCES INC COM COM 269279402 755.79 35,600 Sole N/A 35,600 EARTHLINK INC COM COM 270321102 18,274.52 2,199,100 Sole N/A 2,199,100 EASTMAN CHEM CO COM COM 277432100 6,605.38 109,651 Sole N/A 109,651 EASTMAN KODAK CO COM COM 277461109 0.35 83 Sole N/A 83 EATON CORP COM COM 278058102 7,076.14 111,225 Sole N/A 111,225 EATON VANCE CORP COM NON VTG COM NON VTG 278265103 9,132.12 300,300 Sole N/A 300,300 EBAY INC COM COM 278642103 8,371.93 355,647 Sole N/A 355,647 ECOLAB INC COM COM 278865100 2,491.26 55,883 Sole N/A 55,883 EDISON INTL COM COM 281020107 3,188.94 91,689 Sole N/A 91,689 ELDORADO GOLD CORP NEW COM COM 284902103 20,221.38 1,420,850 Sole N/A 1,420,850 ELECTRONIC ARTS INC COM COM 285512109 71.09 4,005 Sole N/A 4,005 EMERSON ELEC CO COM COM 291011104 17,187.70 403,467 Sole N/A 403,467 ENCANA CORP COM COM 292505104 218,605.12 6,718,694 Sole N/A 6,718,694 ENCORE WIRE CORP COM COM 292562105 14,213.82 674,600 Sole N/A 674,600
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- ENZON PHARMACEUTICALS INC COM COM 293904108 61.07 5,800 Sole N/A 5,800 EQUIFAX INC COM COM 294429105 2,226.00 72,062 Sole N/A 72,062 EXFO ELECTRO OPTICAL ENGR IN SUB VTG SHS SUB VTG SHS 302043104 440.93 114,701 Sole N/A 114,701 EXPEDITORS INTL WASH INC COM COM 302130109 5,449.73 156,917 Sole N/A 156,917 EXPRESS SCRIPTS INC COM COM 302182100 135.38 1,566 Sole N/A 1,566 FLIR SYS INC COM COM 302445101 38.09 1,164 Sole N/A 1,164 F M C CORP COM NEW COM NEW 302491303 32.34 580 Sole N/A 580 FPL GROUP INC COM COM 302571104 46,774.91 885,553 Sole N/A 885,553 FAIRFAX FINL HLDGS LTD SUB VTG DELETED SUB VTG 303901102 129,912.54 332,180 Sole N/A 332,180 FASTENAL CO COM COM 311900104 1,461.98 35,110 Sole N/A 35,110 FEDERAL REALTY INVT TR SH BEN INT NEW SH BEN INT NEW 313747206 496.05 7,325 Sole N/A 7,325 FEDERATED INVS INC PA CL B CL B 314211103 1,640.65 59,660 Sole N/A 59,660 FIFTH THIRD BANCORP COM COM STK 316773100 4,909.74 503,563 Sole N/A 503,563 FIRST SOLAR INC COM COM 336433107 55.38 409 Sole N/A 409 FISERV INC COM COM 337738108 455.23 9,390 Sole N/A 9,390 FIRSTENERGY CORP COM COM 337932107 637.99 13,735 Sole N/A 13,735 FLUOR CORP NEW COM COM 343412102 672.63 14,934 Sole N/A 14,934 FOREST LABS INC COM COM 345838106 21,850.05 680,475 Sole N/A 680,475 FOREST OIL CORP COM PAR $0.01 COM PAR 0.01 346091705 21.52 967 Sole N/A 967 FORTUNE BRANDS INC COM COM 349631101 202.52 4,688 Sole N/A 4,688 FRANKLIN RES INC COM COM 354613101 23,145.82 219,704 Sole N/A 219,704 GANNETT INC COM COM 364730101 15,213.38 1,024,470 Sole N/A 1,024,470 GAP INC DEL COM COM 364760108 4,397.41 209,900 Sole N/A 209,900 GASTAR EXPL LTD COM NEW COMMON STOCK 367299203 2,478.35 517,400 Sole N/A 517,400 GENERAL ELECTRIC CO COM COM 369604103 61,317.31 4,052,697 Sole N/A 4,052,697 GENERAL MLS INC COM COM 370334104 5,878.08 83,012 Sole N/A 83,012 GENUINE PARTS CO COM COM 372460105 5.28 139 Sole N/A 139 GENZYME CORP COM COMMON STOCK 372917104 2,588.22 52,810 Sole N/A 52,810 GERDAU S A SPONSORED ADR SPONSORED ADR 373737105 23,595.65 1,385,534 Sole N/A 1,385,534
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- GILEAD SCIENCES INC COM COM 375558103 6,445.69 148,930 Sole N/A 148,930 GILDAN ACTIVEWEAR INC COM SUB VTG SHS CL A 375916103 12,827.52 523,258 Sole N/A 523,258 GOLDCORP INC NEW COM COM 380956409 263,643.78 6,684,182 Sole N/A 6,684,182 GRAFTECH INTL LTD COM COM 384313102 6,667.84 428,800 Sole N/A 428,800 GRAINGER W W INC COM COM 384802104 5,110.01 52,773 Sole N/A 52,773 GREAT BASIN GOLD LTD COM COM 390124105 155.37 89,988 Sole N/A 89,988 HNI CORP COM COM 404251100 1,770.53 64,080 Sole N/A 64,080 HSN INC COM COM 404303109 365.44 18,100 Sole N/A 18,100 HALLIBURTON CO COM COM 406216101 18,643.31 619,585 Sole N/A 619,585 HARLEY DAVIDSON INC COM COM 412822108 23.41 929 Sole N/A 929 HARRIS CORP DEL COM COM 413875105 5,731.92 120,545 Sole N/A 120,545 HARSCO CORP COM COM 415864107 235.28 7,300 Sole N/A 7,300 HARTFORD FINL SVCS GROUP INC COM COM 416515104 1,396.32 60,031 Sole N/A 60,031 HEINZ H J CO COM COM 423074103 26,716.84 624,809 Sole N/A 624,809 HELMERICH & PAYNE INC COM COM 423452101 2,498.80 62,658 Sole N/A 62,658 HERSHEY CO COM COM 427866108 10,196.61 284,901 Sole N/A 284,901 HEWLETT PACKARD CO COM COM 428236103 70,216.79 1,363,168 Sole N/A 1,363,168 HOLOGIC INC COM COM 436440101 100.05 6,900 Sole N/A 6,900 HOME DEPOT INC COM COM 437076102 19,036.93 658,034 Sole N/A 658,034 HONEYWELL INTL INC COM COM 438516106 16,562.35 422,509 Sole N/A 422,509 HORMEL FOODS CORP COM COM 440452100 1,643.62 42,747 Sole N/A 42,747 HOSPIRA INC COM COM 441060100 366.89 7,194 Sole N/A 7,194 HUDSON CITY BANCORP COM COM 443683107 2,332.85 169,909 Sole N/A 169,909 HUMANA INC COM COM 444859102 110.03 2,507 Sole N/A 2,507 HUNT J B TRANS SVCS INC COM COM 445658107 1,897.48 58,800 Sole N/A 58,800 IMS HEALTH INC COM COM 449934108 2,916.81 138,500 Sole N/A 138,500 ITT CORP NEW COM COM 450911102 5,307.11 106,697 Sole N/A 106,697 IAMGOLD CORP COM COM 450913108 75,889.38 4,818,814 Sole N/A 4,818,814 ILLINOIS TOOL WKS INC COM COM 452308109 9,528.80 198,558 Sole N/A 198,558 ILLUMINA INC COM COM 452327109 42.91 1,400 Sole N/A 1,400 IMPERIAL OIL LTD COM NEW COM NEW 453038408 69,507.76 1,792,141 Sole N/A 1,792,141
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- INFOSYS TECHNOLOGIES LTD SPONSORED DEPOSITORY ADR RECEIPTS 456788108 15,537.84 281,126 Sole N/A 281,126 INGRAM MICRO INC CL A CL A 457153104 5,383.19 308,492 Sole N/A 308,492 INTEL CORP COM COM 458140100 63,762.14 3,125,595 Sole N/A 3,125,595 INTERNATIONAL BUSINESS MACHS COM COM 459200101 172,159.30 1,315,197 Sole N/A 1,315,197 INTERNATIONAL GAME TECHNOLOG COM COM 459902102 11.37 606 Sole N/A 606 INTL PAPER CO COM COM 460146103 12,759.79 476,467 Sole N/A 476,467 INTERNATIONAL ROYALTY CORP COM COM 460277106 3,316.26 461,700 Sole N/A 461,700 INTERPUBLIC GROUP COS INC COM COM 460690100 0.10 13 Sole N/A 13 INTUIT COM COM 461202103 1,995.14 64,967 Sole N/A 64,967 INVACARE CORP COM COM 461203101 8,172.84 327,700 Sole N/A 327,700 IRON MTN INC COM COM 462846106 433.56 19,049 Sole N/A 19,049 ISHARES TR INDEX MSCI EMERG MKT MSCI EMERGING MKTS INDEX FD 464287234 289,627.03 6,978,964 Sole N/A 6,978,964 ITAU UNIBANCO HLDG SA SPON ADR REP GLOBAL PFD DEPOSITORY RECEIPT 465562106 75,735.48 3,315,914 Sole N/A 3,315,914 ITC HLDGS CORP COM COM 465685105 114,339.91 2,195,045 Sole N/A 2,195,045 IVANHOE ENERGY INC COM COM 465790103 2,983.77 1,056,770 Sole N/A 1,056,770 JABIL CIRCUIT INC COM COM 466313103 3.02 174 Sole N/A 174 JACOBS ENGR GROUP INC DEL COM COM 469814107 738.43 19,634 Sole N/A 19,634 JOHN BEAN TECHNOLOGIES CORP COM COM 477839104 853.87 50,198 Sole N/A 50,198 JOHNSON & JOHNSON COM COM 478160104 88,881.43 1,379,932 Sole N/A 1,379,932 JOHNSON CTLS INC COM COM 478366107 4.06 149 Sole N/A 149 JONES APPAREL GROUP INC COM COM 480074103 265.52 16,533 Sole N/A 16,533 JOY GLOBAL INC COM COM 481165108 6,154.69 119,300 Sole N/A 119,300 KHD HUMBOLDT WEDAG INTL LTD COM COM 482462108 4,010.54 294,676 Sole N/A 294,676 KLA-TENCOR CORP COM COM 482480100 68.45 1,893 Sole N/A 1,893 KANSAS CITY SOUTHERN COM NEW COM NEW 485170302 39.95 1,200 Sole N/A 1,200
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- KEEGAN RES INC COM COMMON STOCK 487275109 1,264.84 200,000 Sole N/A 200,000 KELLOGG CO COM COM 487836108 1,003.14 18,856 Sole N/A 18,856 KENNAMETAL INC COM COM 489170100 1,793.66 69,200 Sole N/A 69,200 KENNEDY-WILSON HLDGS INC EXP CALL EXP 11/14/201 ADDED 14NOV13 489398115 0.16 285 Sole N/A 285 KEYCORP NEW COM COM 493267108 2,835.70 510,937 Sole N/A 510,937 KIMBERLY CLARK CORP COM COM 494368103 37,230.53 584,375 Sole N/A 584,375 KINDRED HEALTHCARE INC COM COM 494580103 3,195.43 173,100 Sole N/A 173,100 KINROSS GOLD CORP COM NO PAR COMMON STOCK 496902404 30,664.91 1,659,657 Sole N/A 1,659,657 KINGSWAY FINL SVCS INC COM COM 496904103 260.64 149,312 Sole N/A 149,312 KOHLS CORP COM COM 500255104 40.18 745 Sole N/A 745 KROGER CO COM COM 501044101 16,191.64 788,682 Sole N/A 788,682 LAN AIRLINES S A SPONSORED ADR SPONSORED ADR 501723100 10,176.64 610,476 Sole N/A 610,476 LSI CORPORATION COM COM 502161102 4,759.88 791,994 Sole N/A 791,994 LABOPHARM INC COM COM 504905100 11.85 5,700 Sole N/A 5,700 LAM RESEARCH CORP COM COM 512807108 15.68 400 Sole N/A 400 LANDSTAR SYS INC COM COM 515098101 10,913.76 281,500 Sole N/A 281,500 LAS VEGAS SANDS CORP COM COM 517834107 11.95 800 Sole N/A 800 LAUDER ESTEE COS INC CL A CL A 518439104 7,300.52 150,962 Sole N/A 150,962 LEGG MASON INC COM COM 524901105 15,431.49 511,654 Sole N/A 511,654 LEUCADIA NATL CORP COM COM 527288104 31.90 1,341 Sole N/A 1,341 LIBERTY GLOBAL INC COM SER A COM SER A 530555101 0.85 39 Sole N/A 39 LILLY ELI & CO COM COM 532457108 25,195.23 705,551 Sole N/A 705,551 LIMITED BRANDS INC COM COM 532716107 157.04 8,162 Sole N/A 8,162 LINCOLN NATL CORP IND COM COM 534187109 5,809.48 233,500 Sole N/A 233,500 LINEAR TECHNOLOGY CORP COM COM 535678106 5,107.17 167,229 Sole N/A 167,229 LIONS GATE ENTMNT CORP COM NEW COM NEW 535919203 8,020.12 1,380,400 Sole N/A 1,380,400 LOCKHEED MARTIN CORP COM COM 539830109 15,594.29 206,958 Sole N/A 206,958 LOEWS CORP COM COM 540424108 146.71 4,036 Sole N/A 4,036
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- LORILLARD INC COM COM 544147101 19,339.04 241,045 Sole N/A 241,045 LOWES COS INC COM USD0.50 548661107 7.65 327 Sole N/A 327 LUBRIZOL CORP COM COM 549271104 8,009.91 109,800 Sole N/A 109,800 LULULEMON ATHLETICA INC COM COM 550021109 267.89 8,900 Sole N/A 8,900 MDU RES GROUP INC COM COM 552690109 4,042.68 171,300 Sole N/A 171,300 MEMC ELECTR MATLS INC COM COM 552715104 427.34 31,376 Sole N/A 31,376 MGM MIRAGE COM COM 552953101 19.38 2,125 Sole N/A 2,125 MACERICH CO COM COM 554382101 0.47 13 Sole N/A 13 MAGMA DESIGN AUTOMATION COM COM 559181102 77.85 33,700 Sole N/A 33,700 MAGNA INTL INC CL A CL A SUB VTG 559222401 55,763.30 1,097,624 Sole N/A 1,097,624 MAGYAR TELEKOM TELECOMMUNS P SPONSORED ADR SPONSORED ADR 559776109 2,694.32 141,064 Sole N/A 141,064 MARATHON OIL CORP COM COM 565849106 18,140.45 581,052 Sole N/A 581,052 MARSH & MCLENNAN COS INC COM COM 571748102 5,853.96 265,125 Sole N/A 265,125 MARRIOTT INTL INC NEW CL A CL A 571903202 18.23 669 Sole N/A 669 MARTIN MARIETTA MATLS INC COM COM 573284106 51.68 578 Sole N/A 578 MASCO CORP COM COM 574599106 1,777.35 128,700 Sole N/A 128,700 MASSEY ENERGY CORP COM COM 576206106 2.77 66 Sole N/A 66 MCAFEE INC COM COM 579064106 10.30 254 Sole N/A 254 MCCORMICK & CO INC COM NON VTG COM NON VTG 579780206 7,851.74 217,319 Sole N/A 217,319 MCDERMOTT INTL INC COM COM 580037109 55.22 2,300 Sole N/A 2,300 MCDONALDS CORP COM COM 580135101 135.81 2,175 Sole N/A 2,175 MCGRAW HILL COS INC COM COM 580645109 6,006.37 179,241 Sole N/A 179,241 MEAD JOHNSON NUTRITION CO COM CL A COMMON STOCK 582839106 11,912.18 272,590 Sole N/A 272,590 MEADWESTVACO CORP COM COM 583334107 12,764.66 445,849 Sole N/A 445,849 MEDTRONIC INC COM COM 585055106 21,822.35 496,188 Sole N/A 496,188 MELCO CROWN ENTMT LTD ADR ADR 585464100 1,129.29 335,100 Sole N/A 335,100 METROPCS COMMUNICATIONS INC COM COM 591708102 32.81 4,300 Sole N/A 4,300
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- MICROSOFT CORP COM COM 594918104 236,504.52 7,756,789 Sole N/A 7,756,789 MICROCHIP TECHNOLOGY INC COM COM 595017104 1,533.55 52,772 Sole N/A 52,772 MICRON TECHNOLOGY INC COM COM 595112103 300.60 28,466 Sole N/A 28,466 MILLER HERMAN INC COM COM 600544100 3,453.28 216,100 Sole N/A 216,100 MINDRAY MEDICAL INTL LTD SPON ADR SPONSORED ADR REPSTG CL A 602675100 21.03 620 Sole N/A 620 MINEFINDERS LTD COM COM 602900102 1,062.80 102,313 Sole N/A 102,313 MINERALS TECHNOLOGIES INC COM COM 603158106 8,998.44 165,200 Sole N/A 165,200 MOBILE TELESYSTEMS OJSC SPONSORED ADR SPONSORED ADR 607409109 34,725.79 710,284 Sole N/A 710,284 MOHAWK INDS INC COM COM 608190104 119.00 2,500 Sole N/A 2,500 MOLEX INC COM COM 608554101 8,642.31 401,035 Sole N/A 401,035 MOODYS CORP COM COM 615369105 59.58 2,223 Sole N/A 2,223 MORGAN STANLEY COM NEW COM NEW 617446448 27,529.69 930,057 Sole N/A 930,057 MOTOROLA INC COM COM 620076109 14,448.82 1,861,961 Sole N/A 1,861,961 MURPHY OIL CORP COM COM 626717102 8,117.05 149,761 Sole N/A 149,761 MYLAN INC COM COM 628530107 4,163.52 225,910 Sole N/A 225,910 NRG ENERGY INC COM NEW COM NEW 629377508 4,411.77 186,860 Sole N/A 186,860 NYSE EURONEXT COM COM 629491101 5,323.88 210,430 Sole N/A 210,430 NASDAQ OMX GROUP INC COM COM ACCREDITED INVS 631103108 2,480.83 125,168 Sole N/A 125,168 NASH FINCH CO COM COM 631158102 3,560.64 96,000 Sole N/A 96,000 NATIONAL FUEL GAS CO N J COM COM 636180101 4,585.00 91,700 Sole N/A 91,700 NATIONAL OILWELL VARCO INC COM COM 637071101 12,758.02 289,363 Sole N/A 289,363 NATIONAL SEMICONDUCTOR CORP COM COM 637640103 15,647.54 1,018,720 Sole N/A 1,018,720 NATIONWIDE HEALTH PPTYS INC COM COM 638620104 1,115.21 31,700 Sole N/A 31,700 NEW GOLD INC CDA COM COMMON STOCK 644535106 17,027.45 4,697,560 Sole N/A 4,697,560 NEW ORIENTAL ED & TECH GRP I SPON ADR SPONSORED ADR REPSTG COM 647581107 5,761.48 76,200 Sole N/A 76,200
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- NEW YORK CMNTY BANCORP INC COM COM 649445103 8,481.10 584,500 Sole N/A 584,500 NEWELL RUBBERMAID INC COM COM 651229106 0.81 54 Sole N/A 54 NEWFIELD EXPL CO COM COM 651290108 728.27 15,100 Sole N/A 15,100 NEWMONT MINING CORP COM COM 651639106 13,529.19 285,969 Sole N/A 285,969 NICE SYS LTD SPONSORED ADR SPONSORED ADR 653656108 3,080.01 99,227 Sole N/A 99,227 NIKE INC CL B CL B 654106103 28.94 438 Sole N/A 438 NOBLE ENERGY INC COM COM 655044105 11,848.87 166,370 Sole N/A 166,370 NORDSTROM INC COM COM 655664100 29.09 774 Sole N/A 774 NORFOLK SOUTHERN CORP COM COM 655844108 11,125.67 212,241 Sole N/A 212,241 NORTH AMERN PALLADIUM LTD COM COM 656912102 6,853.56 1,957,747 Sole N/A 1,957,747 NORTHEAST UTILS COM COM 664397106 1,547.40 60,000 Sole N/A 60,000 NORTHERN TR CORP COM COM 665859104 1,762.79 33,641 Sole N/A 33,641 NORTHGATE MINERALS CORP COM COM 666416102 25,683.74 8,310,354 Sole N/A 8,310,354 NORTHROP GRUMMAN CORP COM COM 666807102 14,686.09 262,956 Sole N/A 262,956 NUCOR CORP COM COM 670346105 934.31 20,028 Sole N/A 20,028 O CHARLEYS INC COM COM 670823103 58.95 9,000 Sole N/A 9,000 OSI PHARMACEUTICALS INC COM COM 671040103 788.16 25,400 Sole N/A 25,400 OCCIDENTAL PETE CORP DEL COM COM 674599105 15,628.31 192,112 Sole N/A 192,112 OIL STS INTL INC COM COM 678026105 5,146.99 131,000 Sole N/A 131,000 OILSANDS QUEST INC COM COM 678046103 2,450.36 2,130,746 Sole N/A 2,130,746 OMNICOM GROUP INC COM COM 681919106 7.60 194 Sole N/A 194 ONCOLYTICS BIOTECH INC COM WTS EXP 22FEB10 682310107 1.80 325,000 Sole N/A 325,000 ONEOK INC NEW COM COM 682680103 314.98 7,067 Sole N/A 7,067 OPEN TEXT CORP COM COM 683715106 36,213.73 888,894 Sole N/A 888,894 OPTIONSXPRESS HLDGS INC COM COM 684010101 1,980.69 128,200 Sole N/A 128,200 OWENS ILL INC COM NEW COM NEW 690768403 5,444.55 165,639 Sole N/A 165,639
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- PNC FINL SVCS GROUP INC COM COM 693475105 22,835.58 432,574 Sole N/A 432,574 PPG INDS INC COM COM 693506107 1,899.51 32,448 Sole N/A 32,448 PACCAR INC COM COM 693718108 39.32 1,084 Sole N/A 1,084 PALL CORP COM COM 696429307 1,196.95 33,065 Sole N/A 33,065 PAN AMERICAN SILVER CORP COM COM 697900108 18,901.79 790,730 Sole N/A 790,730 PANTRY INC COM COM 698657103 6,626.48 487,600 Sole N/A 487,600 PARKER HANNIFIN CORP COM COM 701094104 7,574.61 140,583 Sole N/A 140,583 PATTERSON COMPANIES INC COM COM 703395103 21.54 770 Sole N/A 770 PATTERSON UTI ENERGY INC COM COM 703481101 6,235.17 406,200 Sole N/A 406,200 PAYCHEX INC COM COM 704326107 11,200.94 365,566 Sole N/A 365,566 PEABODY ENERGY CORP COM COM 704549104 7,255.80 160,491 Sole N/A 160,491 PENGROWTH ENERGY TR TR UNIT NEW TR UNIT NEW 706902509 17,685.00 1,826,608 Sole N/A 1,826,608 PENN WEST ENERGY TR TR UNIT TR UNIT 707885109 743.11 41,997 Sole N/A 41,997 PENNEY J C INC COM COM 708160106 19,195.10 721,349 Sole N/A 721,349 PENTAIR INC COM COM 709631105 326.23 10,100 Sole N/A 10,100 PEOPLES UNITED FINANCIAL INC COM COM 712704105 5,655.07 338,627 Sole N/A 338,627 PEPCO HOLDINGS INC COM COM 713291102 913.83 54,233 Sole N/A 54,233 PEPSI BOTTLING GROUP INC COM COM 713409100 6,744.79 179,861 Sole N/A 179,861 PEPSICO INC COM COM 713448108 92,508.97 1,521,529 Sole N/A 1,521,529 P T TELEKOMUNIKASI INDONESIA SPONSORED ADR SPONSORED ADR 715684106 15,432.01 386,283 Sole N/A 386,283 PETROHAWK ENERGY CORP COM COM 716495106 86.34 3,599 Sole N/A 3,599 PFIZER INC COM COM 717081103 117,754.14 6,473,564 Sole N/A 6,473,564 PHARMACEUTICAL PROD DEV INC COM COM 717124101 2.34 100 Sole N/A 100 PHILIP MORRIS INTL INC COM COM 718172109 109,086.99 2,263,685 Sole N/A 2,263,685 PHILIPPINE LONG DISTANCE TEL SPONSORED ADR SPONSORED ADR 718252604 4,121.21 72,723 Sole N/A 72,723
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- PIONEER NAT RES CO COM COM 723787107 1,831.23 38,016 Sole N/A 38,016 PITNEY BOWES INC COM COM 724479100 624.81 27,452 Sole N/A 27,452 PLAINS EXPL& PRODTN CO COM COM 726505100 55.32 2,000 Sole N/A 2,000 PLUM CREEK TIMBER CO INC COM COM 729251108 5,552.12 147,037 Sole N/A 147,037 POLYMET MINING CORP COM COM 731916102 1,394.43 459,700 Sole N/A 459,700 POST PPTYS INC COM COM 737464107 101.92 5,200 Sole N/A 5,200 PRE PAID LEGAL SVCS INC COM COM 740065107 2,037.57 49,600 Sole N/A 49,600 PRECISION CASTPARTS CORP COM COM 740189105 682.51 6,185 Sole N/A 6,185 PRECISION DRILLING TR TR UNIT TR UNIT 740215108 14,063.14 1,927,202 Sole N/A 1,927,202 PRICESMART INC COM COM 741511109 179.87 8,800 Sole N/A 8,800 PROCTER & GAMBLE CO COM COM 742718109 253,594.09 4,182,650 Sole N/A 4,182,650 PROGRESS ENERGY INC COM COM 743263105 581.32 14,175 Sole N/A 14,175 PROGRESSIVE CORP OHIO COM COM 743315103 9,557.66 531,276 Sole N/A 531,276 PROLOGIS SH BEN INT SH BEN INT 743410102 2,205.09 161,073 Sole N/A 161,073 PRUDENTIAL FINL INC COM COM 744320102 18,922.14 380,268 Sole N/A 380,268 PT INDOSAT TBK SPONSORED ADR SPONSORED ADR 744383100 1,376.03 54,800 Sole N/A 54,800 PUBLIC SVC ENTERPRISE GROUP COM COM 744573106 5,907.93 177,682 Sole N/A 177,682 PULTE HOMES INC COM COM 745867101 1,157.57 115,757 Sole N/A 115,757 QLT INC COM COM 746927102 1,424.63 285,567 Sole N/A 285,567 QUALCOMM INC COM COM 747525103 28,646.28 619,245 Sole N/A 619,245 QUESTAR CORP COM COM 748356102 152.23 3,662 Sole N/A 3,662 QWEST COMMUNICATIONS INTL IN COM COM 749121109 8,592.40 2,040,949 Sole N/A 2,040,949 RAYONIER INC COM COM 754907103 1,328.04 31,500 Sole N/A 31,500 RAYTHEON CO COM NEW COM NEW 755111507 10,852.33 210,643 Sole N/A 210,643 RED HAT INC COM COM 756577102 6,019.32 194,800 Sole N/A 194,800 REGENCY CTRS CORP COM COM 758849103 48.91 1,395 Sole N/A 1,395 REGIS CORP MINN COM COM 758932107 14,782.16 949,400 Sole N/A 949,400 RELIANCE STEEL & ALUMINUM CO COM COM 759509102 25,484.55 589,647 Sole N/A 589,647
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- REPUBLIC SVCS INC COM COM 760759100 716.61 25,313 Sole N/A 25,313 RESEARCH IN MOTION LTD COM COM 760975102 41,237.11 608,629 Sole N/A 608,629 REYNOLDS AMERICAN INC COM COM 761713106 2,736.48 51,661 Sole N/A 51,661 RITCHIE BROS AUCTIONEERS COM COM 767744105 158.20 7,001 Sole N/A 7,001 ROBERT HALF INTL INC COM COM 770323103 12,541.66 469,198 Sole N/A 469,198 ROCKWELL AUTOMATION INC COM COM 773903109 2,573.33 54,775 Sole N/A 54,775 ROCKWELL COLLINS INC COM COM 774341101 2,891.40 52,229 Sole N/A 52,229 ROGERS COMMUNICATIONS INC CL B CL B 775109200 3,172.43 101,738 Sole N/A 101,738 ROPER INDS INC NEW COM COM 776696106 649.39 12,400 Sole N/A 12,400 ROWAN COS INC COM COM 779382100 375.82 16,600 Sole N/A 16,600 ROYAL BK CDA MONTREAL QUE COM COM 780087102 225.74 4,196 Sole N/A 4,196 RUBICON MINERALS CORP COM COM 780911103 14,759.48 3,094,620 Sole N/A 3,094,620 RYANAIR HLDGS PLC SPONSORED ADR SPONSORED ADR 783513104 371.62 13,856 Sole N/A 13,856 SEI INVESTMENTS CO COM COM 784117103 3,504.00 200,000 Sole N/A 200,000 SPX CORP COM COM 784635104 5,366.07 98,100 Sole N/A 98,100 SAFEWAY INC COM NEW COM NEW 786514208 8,132.46 381,985 Sole N/A 381,985 ST JUDE MED INC COM COM 790849103 154.29 4,195 Sole N/A 4,195 SANTA MONICA MEDIA CORP COM DELETED COM 802501106 - 114,600 Sole N/A 114,600 SANTA MONICA MEDIA CORP UNIT UNIT 1 COM 1 99/99/9999 DELETED WT EXP 802501205 4.03 500 Sole N/A 500 SAPIENT CORP COM COM 803062108 114.13 13,800 Sole N/A 13,800 SARA LEE CORP COM COM 803111103 10,304.23 845,996 Sole N/A 845,996 SATYAM COMPUTER SERVICES LTD ADR AMERN DEPOSITORY RCPT 804098101 1,516.70 329,003 Sole N/A 329,003 SCHEIN HENRY INC COM COM 806407102 2,409.08 45,800 Sole N/A 45,800 SCHLUMBERGER LTD COM COM 806857108 58,243.64 894,817 Sole N/A 894,817 SCHNITZER STL INDS CL A CL A 806882106 6,363.18 133,400 Sole N/A 133,400
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- SCHWAB CHARLES CORP NEW COM NEW COM STK 808513105 18,423.84 978,950 Sole N/A 978,950 SCOTTS MIRACLE GRO CO CL A CL A 810186106 5,625.26 143,100 Sole N/A 143,100 SEABRIDGE GOLD INC COM COM 811916105 11,536.39 475,400 Sole N/A 475,400 SEARS HLDGS CORP COM COM 812350106 58.67 703 Sole N/A 703 SEMPRA ENERGY COM COM 816851109 3,823.55 68,302 Sole N/A 68,302 SHAW GROUP INC COM COM 820280105 3,291.88 114,500 Sole N/A 114,500 SHERWIN WILLIAMS CO COM COM 824348106 15,554.30 252,300 Sole N/A 252,300 SIERRA WIRELESS INC COM COM 826516106 8,876.24 832,326 Sole N/A 832,326 SIGMA ALDRICH CORP COM COM 826552101 61.24 1,212 Sole N/A 1,212 SILICONWARE PRECISION INDS L SPONSD SPONSORED ADR ADR SPL SPIL 827084864 2,998.44 427,737 Sole N/A 427,737 SILVER WHEATON CORP COM COM 828336107 83,998.85 5,545,352 Sole N/A 5,545,352 SIMON PPTY GROUP INC NEW COM COM 828806109 15,250.90 191,114 Sole N/A 191,114 SMITH A O COM COM 831865209 4,885.71 112,600 Sole N/A 112,600 SMITH INTL INC COM COM 832110100 780.43 28,724 Sole N/A 28,724 SMUCKER J M CO COM NEW COM NEW 832696405 3,593.85 58,200 Sole N/A 58,200 SOCIEDAD QUIMICA MINERA DE C SPON SPONSORED ADR ADR SER B REPSTG SER B SHS 833635105 3,470.38 92,371 Sole N/A 92,371 SOUTHERN CO COM COM 842587107 1,152.67 34,594 Sole N/A 34,594 SOUTHWEST AIRLS CO COM COM 844741108 2.42 212 Sole N/A 212 SOUTHWESTERN ENERGY CO COM COM 845467109 34.17 709 Sole N/A 709 SPECTRA ENERGY CORP COM COM 847560109 13,659.05 665,970 Sole N/A 665,970 SPRINT NEXTEL CORP COM SER 1 COM SER 1 852061100 16,493.92 4,506,536 Sole N/A 4,506,536 STAPLES INC COM COM 855030102 3.86 157 Sole N/A 157 STARBUCKS CORP COM COM 855244109 27.99 1,214 Sole N/A 1,214 STATE STR CORP COM COM 857477103 23,290.51 534,922 Sole N/A 534,922 STEEL DYNAMICS INC COM COM 858119100 439.08 24,779 Sole N/A 24,779 STERICYCLE INC COM COM 858912108 25.10 455 Sole N/A 455 STERLITE INDS INDIA LTD ADS ADS 859737207 9,665.44 530,485 Sole N/A 530,485 STONE ENERGY CORP COM COMMON STOCK 861642106 4,816.55 266,845 Sole N/A 266,845 STRYKER CORP COM COM 863667101 7,059.05 140,144 Sole N/A 140,144
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- SUN LIFE FINL INC COM COM 866796105 133.68 4,633 Sole N/A 4,633 SUN MICROSYSTEMS INC COM NEW COM NEW 866810203 7,341.32 783,492 Sole N/A 783,492 SUNCOR ENERGY INC NEW COM COMMON STOCK 867224107 493,940.07 13,916,206 Sole N/A 13,916,206 SUNPOWER CORP COM CL A COM CL A 867652109 21.31 900 Sole N/A 900 SUNPOWER CORP COM CL B COM CL B 867652307 1.53 73 Sole N/A 73 SUNTRUST BKS INC COM COM 867914103 6,203.16 305,725 Sole N/A 305,725 SUPERVALU INC COM COM 868536103 23,772.65 1,870,389 Sole N/A 1,870,389 SYBASE INC COM COM 871130100 6,089.02 140,300 Sole N/A 140,300 SYMANTEC CORP COM COM 871503108 44.94 2,512 Sole N/A 2,512 SYSCO CORP COM COM 871829107 22,748.02 814,174 Sole N/A 814,174 TJX COS INC NEW COM COM 872540109 7.31 200 Sole N/A 200 TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR SPONSORED ADR 874039100 63,299.99 5,533,215 Sole N/A 5,533,215 TASEKO MINES LTD COM COM 876511106 14,083.32 3,317,808 Sole N/A 3,317,808 TATA COMMUNICATIONS LTD SPONS ADR SPONSORED ADR 876564105 12,660.66 876,170 Sole N/A 876,170 TATA MTRS LTD SPONSORED ADR SPONSORED ADR 876568502 8,431.69 500,100 Sole N/A 500,100 TECH DATA CORP COM COM 878237106 17,775.13 380,950 Sole N/A 380,950 TECK RESOURCES LTD CL B CL B SUB VTG 878742204 163,616.84 4,658,547 Sole N/A 4,658,547 TECUMSEH PRODS CO CL A CL A 878895200 81.83 7,000 Sole N/A 7,000 TELE NORTE LESTE PART S A SPON ADR SPONSORED ADR PFD REPSTG PFD 879246106 13,407.34 625,926 Sole N/A 625,926 TELEPHONE & DATA SYS INC COM COM 879433100 5,104.96 150,500 Sole N/A 150,500 TELLABS INC COM COM 879664100 674.22 118,700 Sole N/A 118,700 TERRA INDS INC COM COM 880915103 4,889.66 151,900 Sole N/A 151,900 TEVA PHARMACEUTICAL INDS LTD ADR ADR 881624209 78,949.14 1,405,289 Sole N/A 1,405,289 TEXAS INSTRS INC COM COM 882508104 39,668.54 1,522,200 Sole N/A 1,522,200 THERMO FISHER SCIENTIFIC INC COM COM 883556102 11,605.60 243,355 Sole N/A 243,355 THOMPSON CREEK METALS CO INC COM COM 884768102 17,601.16 1,496,527 Sole N/A 1,496,527 THOMSON REUTERS CORP COM COM 884903105 1,673.78 51,900 Sole N/A 51,900
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- TIFFANY & CO NEW COM COM 886547108 3.01 70 Sole N/A 70 TIME WARNER INC COM NEW COMMON STOCK 887317303 12,381.27 424,889 Sole N/A 424,889 TOOTSIE ROLL INDS INC COM COM 890516107 12,999.12 474,767 Sole N/A 474,767 TORCHMARK CORP COM COM 891027104 3,333.39 75,845 Sole N/A 75,845 TORONTO DOMINION BK ONT COM NEW COM NEW 891160509 57,620.99 915,812 Sole N/A 915,812 TRANSGLOBE ENERGY CORP COM COM 893662106 5,138.02 1,534,600 Sole N/A 1,534,600 TRANSITION THERAPEUTICS INC COM NEW COM NEW 893716209 0.00 1 Sole N/A 1 TRIMBLE NAVIGATION LTD COM COM 896239100 317.52 12,600 Sole N/A 12,600 TURKCELL ILETISIM HIZMETLERI SPON SPONSORED ADR ADR NEW NEW 900111204 1,089.24 62,278 Sole N/A 62,278 TUTOR PERINI CORP COM COMMON STOCK 901109108 1,272.83 70,400 Sole N/A 70,400 TYSON FOODS INC CL A CLS A COM 902494103 50.95 4,152 Sole N/A 4,152 UDR INC COM COM 902653104 58.63 3,566 Sole N/A 3,566 US BANCORP DEL COM NEW COM NEW 902973304 45,640.49 2,027,565 Sole N/A 2,027,565 ULTRA PETROLEUM CORP COM COM 903914109 1,814.90 36,400 Sole N/A 36,400 UNION PAC CORP COM COM 907818108 9,398.60 147,083 Sole N/A 147,083 UNITED MICROELECTRONICS CORP SPON SPONSORED ADR ADR NEW NEW 910873405 2,179.20 561,650 Sole N/A 561,650 UNITED PARCEL SERVICE INC CL B CL B 911312106 3,372.84 58,791 Sole N/A 58,791 UNITED STATES CELLULAR CORP COM COM 911684108 1,089.94 25,700 Sole N/A 25,700 UNITED STATES STL CORP NEW COM COM 912909108 71.44 1,296 Sole N/A 1,296 UNITED TECHNOLOGIES CORP COM COM 913017109 29,251.95 421,437 Sole N/A 421,437 UNIVERSAL CORP VA COM COM 913456109 1,409.35 30,900 Sole N/A 30,900 VINA CONCHA Y TORO S A SPONSORED ADR SPONSORED ADR 927191106 2,359.29 56,700 Sole N/A 56,700 VMWARE INC CL A COM CL A COM 928563402 3,581.11 84,500 Sole N/A 84,500 VORNADO RLTY TR SH BEN INT COM 929042109 7,841.53 112,118 Sole N/A 112,118
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- VULCAN MATLS CO COM COM 929160109 72.32 1,373 Sole N/A 1,373 WADDELL & REED FINL INC CL A CL A 930059100 10,325.58 338,100 Sole N/A 338,100 WAL MART STORES INC COM COM 931142103 120,455.09 2,253,603 Sole N/A 2,253,603 WALGREEN CO COM COM 931422109 44,805.09 1,220,182 Sole N/A 1,220,182 WASHINGTON POST CO CL B CL B 939640108 6.59 15 Sole N/A 15 WATERS CORP COM COM 941848103 7,017.22 113,254 Sole N/A 113,254 WELLS FARGO & CO NEW COM COM 949746101 139,266.07 5,159,913 Sole N/A 5,159,913 WERNER ENTERPRISES INC COM COM 950755108 5,959.84 301,154 Sole N/A 301,154 WESTERN DIGITAL CORP COM COM 958102105 15,294.58 346,423 Sole N/A 346,423 WESTERN UN CO COM COM 959802109 12,255.80 650,175 Sole N/A 650,175 WESTPORT INNOVATIONS INC COM NEW COM NEW 960908309 539.80 46,271 Sole N/A 46,271 WESTERN LIBERTY BANCORP EXP 11/27/201 ADDED WTS EXP 27NOV12 961443116 0.01 20 Sole N/A 20 WEYERHAEUSER CO COM COM 962166104 337.57 7,825 Sole N/A 7,825 WHIRLPOOL CORP COM COM 963320106 843.14 10,453 Sole N/A 10,453 WHITING PETE CORP NEW COM COM 966387102 7.14 100 Sole N/A 100 WHOLE FOODS MKT INC COM COM 966837106 532.53 19,400 Sole N/A 19,400 WILLBROS GROUP INC DEL COM COM 969203108 8,839.88 524,000 Sole N/A 524,000 WILLIAMS COS INC DEL COM COM 969457100 6,896.34 327,151 Sole N/A 327,151 WILLIAMS SONOMA INC COM COM 969904101 16,033.85 771,600 Sole N/A 771,600 WINN DIXIE STORES INC COM NEW COM NEW 974280307 54.22 5,400 Sole N/A 5,400 WISCONSIN ENERGY CORP COM COM 976657106 94.28 1,892 Sole N/A 1,892 WORTHINGTON INDS INC COM COM 981811102 5,867.12 448,900 Sole N/A 448,900 WYNN RESORTS LTD COM COM 983134107 64.05 1,100 Sole N/A 1,100 XILINX INC COM COM 983919101 3,723.62 148,588 Sole N/A 148,588 XEROX CORP COM COM 984121103 6,845.84 809,201 Sole N/A 809,201 YAHOO INC COM COM 984332106 18,570.13 1,106,682 Sole N/A 1,106,682 AES CORP COM COM 00130H105 16.36 1,229 Sole N/A 1,229
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- AMB PROPERTY CORP COM COM 00163T109 343.67 13,451 Sole N/A 13,451 AOL INC COM ADDED COMMON STOCK 00184X105 883.10 37,934 Sole N/A 37,934 AT&T INC COM COM 00206R102 198,228.68 7,072,018 Sole N/A 7,072,018 ACTIVISION BLIZZARD INC COM COM 00507V109 11.62 1,046 Sole N/A 1,046 ACUITY BRANDS INC COM COM 00508Y102 930.20 26,100 Sole N/A 26,100 ADOBE SYS INC COM COM 00724F101 6,943.03 188,772 Sole N/A 188,772 ADTRAN INC COM COM 00738A106 3,571.92 158,400 Sole N/A 158,400 ADVANCED SEMICONDUCTOR ENGR SPONSORED ADR SPONSORED ADR 00756M404 5,317.37 1,200,309 Sole N/A 1,200,309 ADVANTAGE OIL & GAS LTD COM COMMON STOCK 00765F101 23,237.04 3,530,515 Sole N/A 3,530,515 AETNA INC NEW COM COM 00817Y108 6,469.53 204,086 Sole N/A 204,086 AGILENT TECHNOLOGIES INC COM COM 00846U101 2,300.27 74,035 Sole N/A 74,035 ALLEGHENY TECHNOLOGIES INC COM COM 01741R102 41.10 918 Sole N/A 918 ALPHA NATURAL RESOURCES INC COM COM 02076X102 15,896.60 366,450 Sole N/A 366,450 ALTRIA GROUP INC COM COM 02209S103 50,957.58 2,595,903 Sole N/A 2,595,903 AMERICAN CAP LTD COM COM 02503Y103 0.43 175 Sole N/A 175 AMERISOURCEBERGEN CORP COM COM 03073E105 11,250.14 431,536 Sole N/A 431,536 AMERIPRISE FINL INC COM COM 03076C106 13,044.22 336,018 Sole N/A 336,018 ARMSTRONG WORLD INDS INC NEW COM COM 04247X102 3,585.45 92,100 Sole N/A 92,100 ASSURANT INC COM COM 04621X108 7,444.08 252,513 Sole N/A 252,513 AURIZON MINES LTD COM COMMON 05155P106 25,764.84 5,710,480 Sole N/A 5,710,480 AUTONATION INC COM COM 05329W102 13,812.51 721,280 Sole N/A 721,280 BCE INC PUT COM NEW 05534B950 130,557.22 4,719,643 Sole N/A 4,719,643 BJS WHOLESALE CLUB INC COM COM 05548J106 1,897.18 58,000 Sole N/A 58,000 BOK FINL CORP COM NEW COM NEW 05561Q201 287.02 6,040 Sole N/A 6,040 BANCO BILBAO VIZCAYA ARGENTA SPONSORED ADR SPONSORED ADR 05946K101 3,824.84 212,020 Sole N/A 212,020 BANCO MACRO SA SPON ADR B SPONSORED ADR REPSTG CL B 05961W105 1,586.21 53,300 Sole N/A 53,300
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- BANCO SANTANDER SA ADR ADR 05964H105 954.54 58,062 Sole N/A 58,062 BANCO SANTANDER CHILE NEW SP ADR REP SPONSORED ADR COM REPSTG COM 05965X109 3,097.84 47,821 Sole N/A 47,821 BIOGEN IDEC INC COM COM 09062X103 10,922.13 204,152 Sole N/A 204,152 BIOVAIL CORP COM COM 09067J109 14,149.46 1,010,462 Sole N/A 1,010,462 BLACKROCK INC COM COM 09247X101 4,921.48 21,195 Sole N/A 21,195 BRF-BRASIL FOODS S A SPONSORED ADR DEPOSITORY RECEIPTS 10552T107 11,364.92 217,012 Sole N/A 217,012 BRASIL TELECOM SA SPONS ADR PFD SPONSORED ADR REPSTG PFD SHS 10553M101 676.89 23,237 Sole N/A 23,237 BRASIL TELECOM SA SPON ADR COM ADDED ADR 10553M200 210.78 13,182 Sole N/A 13,182 BURLINGTON NORTHN SANTA FE C COM COM 12189T104 4,881.99 49,503 Sole N/A 49,503 C H ROBINSON WORLDWIDE INC COM NEW COM NEW 12541W209 4,408.98 75,072 Sole N/A 75,072 CME GROUP INC COM COM 12572Q105 23,618.63 70,304 Sole N/A 70,304 CNX GAS CORP COM COM 12618H309 1,346.11 45,600 Sole N/A 45,600 CA INC COM COM 12673P105 4,170.26 185,675 Sole N/A 185,675 CABLEVISION SYS CORP CL A NY CABLVS CABLEVISION NY GROUP COM 12686C109 4.49 174 Sole N/A 174 CAL DIVE INTL INC DEL COM COM 12802T101 924.59 122,300 Sole N/A 122,300 CAMECO CORP COM COM 13321L108 82,361.66 2,544,764 Sole N/A 2,544,764 CAMERON INTERNATIONAL CORP COM COM 13342B105 7,920.93 189,496 Sole N/A 189,496 CANADIAN PAC RY LTD COM LTD COM 13645T100 126,436.54 2,334,033 Sole N/A 2,334,033 CAPITAL ONE FINL CORP COM COM 14040H105 16,293.20 424,966 Sole N/A 424,966 CARDINAL HEALTH INC COM COM 14149Y108 5,691.71 176,542 Sole N/A 176,542 CARDIOME PHARMA CORP COM NEW COM NEW 14159U202 21.06 4,737 Sole N/A 4,737 CAREFUSION CORP COM COMMON STOCK 14170T101 1,374.82 54,971 Sole N/A 54,971 CELESTICA INC SUB VTG SHS SUB VTG SHS 15101Q108 48,911.03 5,148,180 Sole N/A 5,148,180 CENOVUS ENERGY INC COM ADDED COMMON STOCK 15135U109 145,822.54 5,768,794 Sole N/A 5,768,794 CENTERPOINT ENERGY INC COM COM 15189T107 1,901.38 131,039 Sole N/A 131,039
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- CENTRAIS ELETRICAS BRASILEIR SPON ADR SPONSORED ADR PFD B REPSTG50PFD CL B 15234Q108 10,370.03 554,547 Sole N/A 554,547 CENTRAIS ELETRICAS BRASILEIR SPONSORED ADR SPONSORED ADR REPSTG 50 COM SH 15234Q207 14,404.05 682,980 Sole N/A 682,980 CHUNGHWA TELECOM CO LTD SPONS ADR NEW SPONSORED ADR 09 NEW 2009 17133Q403 7,965.06 428,921 Sole N/A 428,921 CISCO SYS INC COM COM 17275R102 121,535.64 5,076,676 Sole N/A 5,076,676 CLEAR CHANNEL OUTDOOR HLDGS CL A COM CL A 18451C109 38.44 3,700 Sole N/A 3,700 CLEARWIRE CORP NEW CL A CL A 18538Q105 43.32 6,409 Sole N/A 6,409 CLIFFS NATURAL RESOURCES INC COM COM 18683K101 4,857.89 105,400 Sole N/A 105,400 COMCAST CORP NEW CL A CL A 20030N101 2,127.23 126,170 Sole N/A 126,170 COMCAST CORP NEW CL A SPL CL A SPL 20030N200 292.73 18,284 Sole N/A 18,284 COMPANHIA BRASILEIRA DE DIST SPN ADR SPONSORED ADR PFD CL A REPSTG PFD 20440T201 1,783.27 23,739 Sole N/A 23,739 COMPANHIA SIDERURGICA NACION SPONSORED ADR SPONSORED ADR REPSTG ORD SHS 20440W105 24,014.43 752,096 Sole N/A 752,096 COMPANHIA DE BEBIDAS DAS AME SPON ADR SPONSORED ADR PFD REPSTG PFD SHD 20441W203 33,399.03 330,389 Sole N/A 330,389 CONCHO RES INC COM COM 20605P101 2,922.99 65,100 Sole N/A 65,100 CONOCOPHILLIPS COM COM 20825C104 87,669.68 1,716,657 Sole N/A 1,716,657 CONSOL ENERGY INC COM COM 20854P109 5,039.46 101,194 Sole N/A 101,194 CONSTELLATION BRANDS INC CL A CL A 21036P108 45.29 2,843 Sole N/A 2,843 CORRIENTE RES INC COM NEW COMM 22027E409 11,387.17 1,399,500 Sole N/A 1,399,500 COSTCO WHSL CORP NEW COM COM 22160K105 23,451.74 396,345 Sole N/A 396,345 COTT CORP QUE COM COM 22163N106 20,882.77 2,527,997 Sole N/A 2,527,997 COVANTA HLDG CORP COM COM 22282E102 19.99 1,105 Sole N/A 1,105 CRYSTALLEX INTL CORP COM COM 22942F101 0.00 1 Sole N/A 1 CTRIP COM INTL LTD ADR ADR 22943F100 10,081.60 140,295 Sole N/A 140,295 D R HORTON INC COM COM 23331A109 884.95 81,412 Sole N/A 81,412 DAVITA INC COM COM 23918K108 245.83 4,185 Sole N/A 4,185
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- DEL MONTE FOODS CO COM COM 24522P103 5,827.63 513,900 Sole N/A 513,900 DELL INC COM COM 24702R101 25,198.70 1,754,784 Sole N/A 1,754,784 DEVON ENERGY CORP NEW COM COM 25179M103 2,637.77 35,888 Sole N/A 35,888 DIAMOND OFFSHORE DRILLING IN COM COM 25271C102 43.60 443 Sole N/A 443 DISCOVERY COMMUNICATNS NEW COM SER C COM SER C 25470F302 480.01 18,100 Sole N/A 18,100 DISH NETWORK CORP CL A CL A 25470M109 110.08 5,300 Sole N/A 5,300 DIRECTV COM CL A ADDED COM CLASS A 25490A101 5.70 171 Sole N/A 171 DOLBY LABORATORIES INC COM CL A 25659T107 143.19 3,000 Sole N/A 3,000 DOMINION RES INC VA NEW COM COM 25746U109 2,482.05 63,773 Sole N/A 63,773 DR PEPPER SNAPPLE GROUP INC COM COM 26138E109 104.63 3,697 Sole N/A 3,697 DRAGONWAVE INC COM ADDED COMMON STOCK 26144M103 4,900.99 427,450 Sole N/A 427,450 DUKE ENERGY CORP NEW COM COM 26441C105 9,183.08 533,590 Sole N/A 533,590 DUN & BRADSTREET CORP DEL NE COM COM 26483E100 14,626.47 173,361 Sole N/A 173,361 EOG RES INC COM COM 26875P101 15,268.32 156,920 Sole N/A 156,920 EQT CORP COM COM 26884L109 2.06 47 Sole N/A 47 EL PASO CORP COM COM 28336L109 4,866.03 495,018 Sole N/A 495,018 ELIZABETH ARDEN INC COM COM 28660G106 40.43 2,800 Sole N/A 2,800 EMBOTELLADORA ANDINA S A SPON ADR B SPONSORED ADR REPSTG SER B 29081P303 510.00 25,000 Sole N/A 25,000 EMPRESA NACIONAL DE ELCTRCID SPONSORED ADR SPONSORED ADR 29244T101 16,129.43 320,856 Sole N/A 320,856 ENBRIDGE INC COM COM 29250N105 2,594.95 55,941 Sole N/A 55,941 ENDEAVOUR SILVER CORP COM COM 29258Y103 777.36 212,780 Sole N/A 212,780 ENERGEN CORP COM COM 29265N108 6,355.44 135,800 Sole N/A 135,800 ENERGIZER HLDGS INC COM COM 29266R108 2,554.52 41,686 Sole N/A 41,686 ENERPLUS RES FD UNIT TR G NEW TR UNIT NEW 29274D604 30,964.44 1,340,833 Sole N/A 1,340,833
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- ENERSIS S A SPONSORED ADR SPONSORED ADR 29274F104 15,724.39 687,856 Sole N/A 687,856 ENERSYS COM COM 29275Y102 4,896.69 223,900 Sole N/A 223,900 ENTERGY CORP NEW COM COM 29364G103 1,270.89 15,529 Sole N/A 15,529 ENTREE GOLD INC COM COM 29383G100 2,151.21 884,400 Sole N/A 884,400 EQUITY RESIDENTIAL SH BEN INT SH BEN INT 29476L107 9,727.80 287,975 Sole N/A 287,975 ERESEARCHTECHNOLOGY INC COM COM 29481V108 94.36 15,700 Sole N/A 15,700 EXELON CORP COM COM 30161N101 6,353.78 130,014 Sole N/A 130,014 EXPEDIA INC DEL COM COM 30212P105 6,211.54 241,600 Sole N/A 241,600 EXXON MOBIL CORP COM COM 30231G102 230,509.91 3,380,406 Sole N/A 3,380,406 FMC TECHNOLOGIES INC COM COM 30249U101 4,924.21 85,135 Sole N/A 85,135 FEDEX CORP COM COM 31428X106 19.19 230 Sole N/A 230 FIBRIA CELULOSE S A SP ADR REP COM GLOBAL ADDED DEPOSITORY RECEIPT 31573A109 3,190.75 139,700 Sole N/A 139,700 FIDELITY NATL INFORMATION SV COM COM 31620M106 15,437.59 658,600 Sole N/A 658,600 FIRSTSERVICE CORP SUB VTG SH SUB VTG SH 33761N109 8,389.83 433,275 Sole N/A 433,275 FLOWSERVE CORP COM COM 34354P105 557.35 5,896 Sole N/A 5,896 FOCUS MEDIA HLDG LTD SPONSORED ADR SPONSORED ADR 34415V109 6,642.74 419,100 Sole N/A 419,100 FREEPORT-MCMORAN COPPER & GO COM COMMON 35671D857 29,517.10 367,631 Sole N/A 367,631 FRONTEER DEV GROUP INC COM COM 35903Q106 1,198.62 304,254 Sole N/A 304,254 GAMMON GOLD INC COM COM 36467T106 33,909.54 3,061,935 Sole N/A 3,061,935 GENWORTH FINL INC COM CL A COM CL A 37247D106 10,158.81 895,049 Sole N/A 895,049 GERDAU AMERISTEEL CORP COM COM 37373P105 13,502.64 1,625,200 Sole N/A 1,625,200 GOLD RESV INC CL A CL A 38068N108 37.96 34,601 Sole N/A 34,601 GOLDEN STAR RES LTD CDA COM COM 38119T104 2,464.80 790,000 Sole N/A 790,000 GOLDMAN SACHS GROUP INC COM COM 38141G104 91,653.45 542,842 Sole N/A 542,842 GOOGLE INC CL A CL A 38259P508 47,143.28 76,040 Sole N/A 76,040
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- GRAN TIERRA ENERGY INC COM COM 38500T101 16,150.58 2,821,910 Sole N/A 2,821,910 GROUPE CGI INC CL A SUB VTG CL A SUB VTG 39945C109 48,695.43 3,584,961 Sole N/A 3,584,961 HCP INC COM COM 40414L109 2,473.98 81,008 Sole N/A 81,008 HDFC BANK LTD ADR REPS 3 SHS DEPOSITORY RECEIPTS 40415F101 5,513.57 42,386 Sole N/A 42,386 HARRY WINSTON DIAMOND CORP COM COM 41587B100 7,298.61 761,343 Sole N/A 761,343 HEALTH CARE REIT INC COM COM 42217K106 303.77 6,854 Sole N/A 6,854 HESS CORP COM COM 42809H107 95.17 1,573 Sole N/A 1,573 HIMAX TECHNOLOGIES INC SPONSORED ADR SPONSORED ADR 43289P106 918.53 331,600 Sole N/A 331,600 HOST HOTELS & RESORTS INC COM COM 44107P104 7,449.11 638,313 Sole N/A 638,313 IAC INTERACTIVECORP COM PAR $.001 COM 44919P508 19,875.94 970,505 Sole N/A 970,505 IESI BFC LTD COM COMMON STOCK 44951D108 13,568.31 842,674 Sole N/A 842,674 ICICI BK LTD ADR SPONSORED ADR 45104G104 9,875.50 261,880 Sole N/A 261,880 IMAX CORP COM COM 45245E109 0.01 1 Sole N/A 1 INTERCONTINENTALEXCHANGE INC COM COM 45865V100 11,612.61 103,407 Sole N/A 103,407 INTERVAL LEISURE GROUP INC COM COM 46113M108 194.53 15,600 Sole N/A 15,600 INTUITIVE SURGICAL INC COM NEW COM NEW 46120E602 21.23 70 Sole N/A 70 INTREPID POTASH INC COM COM 46121Y102 0.73 25 Sole N/A 25 IVANHOE MINES LTD COM COM 46579N103 43,207.31 2,920,463 Sole N/A 2,920,463 JPMORGAN CHASE & CO COM COM 46625H100 109,951.64 2,638,628 Sole N/A 2,638,628 JPMORGAN CHASE & CO EXP 10/28/201 CALL EXP ADDED 28OCT18 46634E114 20,809.47 1,561,100 Sole N/A 1,561,100 JAGUAR MNG INC COM COM 47009M103 1,431.83 127,101 Sole N/A 127,101 JANUS CAP GROUP INC COM COM 47102X105 24.10 1,792 Sole N/A 1,792 JONES LANG LASALLE INC COM COM 48020Q107 3,889.76 64,400 Sole N/A 64,400 JUNIPER NETWORKS INC COM COM 48203R104 12,886.92 483,199 Sole N/A 483,199 KAR AUCTION SVCS INC COM ADDED COMMON STOCK 48238T109 25,690.77 1,863,000 Sole N/A 1,863,000
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- KBR INC COM COM 48242W106 1,820.20 95,800 Sole N/A 95,800 KIMCO REALTY CORP COM COM 49446R109 4,087.70 302,121 Sole N/A 302,121 KINETIC CONCEPTS INC COM NEW COM NEW 49460W208 2,326.77 61,800 Sole N/A 61,800 KOBEX MINERALS INC COM ADDED EXP 21MAR10 49989C105 0.32 67,500 Sole N/A 67,500 KOPPERS HOLDINGS INC COM COM 50060P106 91.32 3,000 Sole N/A 3,000 KRAFT FOODS INC CL A CL A 50075N104 53,392.70 1,964,411 Sole N/A 1,964,411 LABORATORY CORP AMER HLDGS COM NEW COM NEW 50540R409 3,403.57 45,478 Sole N/A 45,478 LAWSON SOFTWARE INC NEW COM COM 52078P102 53.20 8,000 Sole N/A 8,000 LEVEL 3 COMMUNICATIONS INC COM COM 52729N100 6.33 4,134 Sole N/A 4,134 LIBERTY ACQUISITION HLDGS CO COM COM 53015Y107 4,971.35 514,100 Sole N/A 514,100 LIBERTY ACQUISITION HLDGS CO UNIT UNIT 1 COM + 99/99/9999 1/2 WT EXP 53015Y206 296.94 30,300 Sole N/A 30,300 LIBERTY MEDIA CORP NEW LIB STAR COM A ADDED COMMON STOCK 53071M708 545.59 11,822 Sole N/A 11,822 LIFE TECHNOLOGIES CORP COM COM 53217V109 5,902.72 113,014 Sole N/A 113,014 M & T BK CORP COM COM 55261F104 1,267.03 18,942 Sole N/A 18,942 MDS INC COM COM 55269P302 5,583.01 714,646 Sole N/A 714,646 MI DEVS INC CL A SUB VTG CL A SUB VTG SHS 55304X104 7,854.44 639,301 Sole N/A 639,301 MACYS INC COM COM 55616P104 3,120.71 186,200 Sole N/A 186,200 MAG SILVER CORP COM COM 55903Q104 199.51 33,200 Sole N/A 33,200 MANULIFE FINL CORP COM COM 56501R106 726.44 39,398 Sole N/A 39,398 MASTERCARD INC CL A CL A 57636Q104 11,033.76 43,104 Sole N/A 43,104 MAXIM INTEGRATED PRODS INC COM COM 57772K101 8,303.98 409,063 Sole N/A 409,063 MCKESSON CORP COM COM 58155Q103 26,228.75 419,660 Sole N/A 419,660 MEDCO HEALTH SOLUTIONS INC COM COM 58405U102 11,524.19 180,319 Sole N/A 180,319 MERCK & CO INC NEW COM ADDED COMMON STCOK 58933Y105 51,898.46 1,420,319 Sole N/A 1,420,319
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- METHANEX CORP COM COM 59151K108 28,152.26 1,437,575 Sole N/A 1,437,575 METLIFE INC COM COM 59156R108 27,222.93 770,097 Sole N/A 770,097 MIRANT CORP NEW COM COM 60467R100 7,138.13 467,461 Sole N/A 467,461 MOLINA HEALTHCARE INC COM COM 60855R100 3,240.68 141,700 Sole N/A 141,700 MOLSON COORS BREWING CO CL B CL B 60871R209 11,232.11 248,718 Sole N/A 248,718 MONSANTO CO NEW COM COM 61166W101 70,253.01 859,364 Sole N/A 859,364 MOSAIC CO COM COMMON STOCK 61945A107 11.95 200 Sole N/A 200 MOUNTAIN PROV DIAMONDS INC COM NEW COM 62426E402 0.00 1 Sole N/A 1 NII HLDGS INC CL B NEW COM NEW 62913F201 4,865.74 144,900 Sole N/A 144,900 NAVISTAR INTL CORP NEW COM COM 63934E108 12,302.18 318,297 Sole N/A 318,297 NETAPP INC COM COM 64110D104 9,994.80 290,631 Sole N/A 290,631 NETEASE COM INC SPONSORED ADR SPONSORED ADR 64110W102 8,993.45 239,124 Sole N/A 239,124 NEVSUN RES LTD COM COM 64156L101 5,126.85 2,124,400 Sole N/A 2,124,400 NEXEN INC COM COM 65334H102 133,291.26 5,540,677 Sole N/A 5,540,677 NISOURCE INC COM COM 65473P105 9,769.39 635,201 Sole N/A 635,201 NORTHERN DYNASTY MINERALS LT COM NEW COM NEW 66510M204 5,337.55 639,500 Sole N/A 639,500 NOVAGOLD RES INC COM NEW COM NEW 66987E206 8.49 1,397 Sole N/A 1,397 NVIDIA CORP COM COM 67066G104 4,658.53 249,386 Sole N/A 249,386 OCH ZIFF CAP MGMT GROUP CL A CL A 67551U105 31.60 2,300 Sole N/A 2,300 OPEN JT STK CO-VIMPEL COMMUN SPONSORED ADR SPONSORED ADR 68370R109 8,178.02 439,915 Sole N/A 439,915 ORACLE CORP COM COM 68389X105 75,542.96 3,078,360 Sole N/A 3,078,360 PG&E CORP COM COM 69331C108 967.39 21,666 Sole N/A 21,666 PPL CORP COM COM 69351T106 3,382.11 104,677 Sole N/A 104,677 PARTNER COMMUNICATIONS CO LT ADR ADR 70211M109 3,276.35 161,000 Sole N/A 161,000 PATRIOT COAL CORP COM COM 70336T104 1.55 100 Sole N/A 100 PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG SPONSORED ADR 71654V101 112,890.30 2,663,135 Sole N/A 2,663,135 PETROLEO BRASILEIRO SA PETRO SPONSORED ADR SPONSORED ADR 71654V408 91,511.66 1,919,288 Sole N/A 1,919,288
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- PLATINUM GROUP METALS LTD COM NEW COM NEW 72765Q205 1,711.41 826,800 Sole N/A 826,800 POTASH CORP SASK INC COM COM 73755L107 90,830.48 832,434 Sole N/A 832,434 PRAXAIR INC COM COM 74005P104 154.68 1,926 Sole N/A 1,926 PRICE T ROWE GROUP INC COM COM 74144T108 11,221.05 210,724 Sole N/A 210,724 PRIDE INTL INC DEL COM COM 74153Q102 8,146.62 255,300 Sole N/A 255,300 PRINCIPAL FINANCIAL GROUP IN COM COM 74251V102 7,638.40 317,737 Sole N/A 317,737 PROVIDENT ENERGY TR TR UNIT TR UNIT 74386K104 12,217.47 1,809,066 Sole N/A 1,809,066 PUBLIC STORAGE COM COM 74460D109 10,937.27 134,282 Sole N/A 134,282 QUANTA SVCS INC COM COM 74762E102 41.68 2,000 Sole N/A 2,000 QUEST DIAGNOSTICS INC COM COM 74834L100 7,536.69 124,821 Sole N/A 124,821 QUEST CAP CORP NEW COM COM 74835U109 152.23 3,662 Sole N/A 3,662 QUICKSILVER RESOURCES INC COM COM 74837R104 112.58 7,500 Sole N/A 7,500 RRI ENERGY INC COM COMMON STOCK 74971X107 1,010.25 176,617 Sole N/A 176,617 RANGE RES CORP COM COM 75281A109 116.90 2,345 Sole N/A 2,345 REGIONS FINANCIAL CORP NEW COM COM 7591EP100 5,460.29 1,032,190 Sole N/A 1,032,190 RESOLUTE ENERGY CORP EXP 09/25/201 ADDED WTS EXP 25SEP14 76116A116 3.95 1,741 Sole N/A 1,741 RETAIL OPPORTUNITY INVTS COR EXP 10/23/201 ADDED EXP 23OCT14 76131N119 1.84 1,600 Sole N/A 1,600 SBA COMMUNICATIONS CORP COM COM 78388J106 421.88 12,350 Sole N/A 12,350 SL GREEN RLTY CORP COM COM 78440X101 104.45 2,079 Sole N/A 2,079 SLM CORP COM COM 78442P106 1,661.86 147,459 Sole N/A 147,459 SXC HEALTH SOLUTIONS CORP COM COM 78505P100 24,503.42 448,310 Sole N/A 448,310 SALESFORCE COM INC COM COM 79466L302 185.02 2,508 Sole N/A 2,508 SANDRIDGE ENERGY INC COM COM 80007P307 26.40 2,800 Sole N/A 2,800 SAPPHIRE INDUSTRIALS CORP COM COM 80306T109 10,418.51 1,037,700 Sole N/A 1,037,700
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- SAPPHIRE INDUSTRIALS CORP UNIT UNIT 1 COM + 1 99/99/9999 WT EXP 80306T208 11.25 1,100 Sole N/A 1,100 SCANA CORP NEW COM COM 80589M102 1,372.04 36,413 Sole N/A 36,413 SEAHAWK DRILLING INC COM COMMON STOCK 81201R107 5.41 240 Sole N/A 240 SHANDA INTERACTIVE ENTMT LTD SPONSORED ADR SPONSORED ADR 81941Q203 3,504.41 66,611 Sole N/A 66,611 SHAW COMMUNICATIONS INC CL B CONV CL B NV 82028K200 67,939.44 3,286,770 Sole N/A 3,286,770 SILVER STD RES INC COM COM 82823L106 265.62 12,107 Sole N/A 12,107 SILVERCORP METALS INC COM COM 82835P103 853.43 128,364 Sole N/A 128,364 SIRIUS XM RADIO INC COM COM 82967N108 0.24 400 Sole N/A 400 SOUTHERN COPPER CORP COM COM 84265V105 10,650.47 323,624 Sole N/A 323,624 SPORTS PPTYS ACQUISITION COR COM COM 84920F107 978.48 99,087 Sole N/A 99,087 SPORTS PPTYS ACQUISITION COR UNIT COMMON STCOCK 99/99/9999 UNIT 84920F206 14.74 1,500 Sole N/A 1,500 STANTEC INC COM COM 85472N109 16,497.60 568,923 Sole N/A 568,923 STARWOOD HOTELS&RESORTS WRLD COM COM 85590A401 18.36 502 Sole N/A 502 SUNOCO INC COM COM 86764P109 1,189.64 45,580 Sole N/A 45,580 SUNOPTA INC COM COMMON STOCK 8676EP108 351.47 103,501 Sole N/A 103,501 TD AMERITRADE HLDG CORP COM COM 87236Y108 9,319.84 480,900 Sole N/A 480,900 TALISMAN ENERGY INC COM COM 87425E103 210,440.10 11,204,411 Sole N/A 11,204,411 TANZANIAN ROYALTY EXPL CORP COM COM 87600U104 6.53 1,866 Sole N/A 1,866 TARGET CORP COM COM 87612E106 42.61 881 Sole N/A 881 TELECOMUNICACOES DE SAO PAUL SPON ADR SPONSORED ADR PFD REPSG PFD 87929A102 2,957.10 118,426 Sole N/A 118,426 TELUS CORP NON-VTG SHS NON VTG SHS 87971M202 1.34 43 Sole N/A 43 TERADATA CORP DEL COM DEL COM 88076W103 10,612.18 337,645 Sole N/A 337,645 TESCO CORP COM COM 88157K101 30.75 2,382 Sole N/A 2,382
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- 3M CO COM COM 88579Y101 33,403.64 404,060 Sole N/A 404,060 TICKETMASTER ENTMT INC COM COM 88633P302 590.23 48,300 Sole N/A 48,300 TIM HORTONS INC COM COMMON STOCK 88706M103 1,958.74 64,200 Sole N/A 64,200 TIM PARTICIPACOES S A SPONS ADR PFD SPONSORED ADR REPSTG PFD 88706P106 4,520.85 152,166 Sole N/A 152,166 TIME WARNER CABLE INC COM COM 88732J207 11,657.49 281,650 Sole N/A 281,650 TRANSALTA CORP COM COM 89346D107 11,036.35 492,758 Sole N/A 492,758 TRANSCANADA CORP COM COM 89353D107 42,504.22 1,231,260 Sole N/A 1,231,260 TRAVELERS COMPANIES INC COM COM 89417E109 34,818.04 698,316 Sole N/A 698,316 TRIAN ACQUISITION I CORP COM COM 89582E108 6,670.54 677,900 Sole N/A 677,900 TRIAN ACQUISITION I CORP UNIT UNIT 1 COM + 1 99/99/9999 WT EXP 89582E207 272.02 27,630 Sole N/A 27,630 UNITEDHEALTH GROUP INC COM COM 91324P102 22,571.51 740,535 Sole N/A 740,535 UNUM GROUP COM COM 91529Y106 13,911.75 712,692 Sole N/A 712,692 UR ENERGY INC COM COM 91688R108 1,056.81 1,367,780 Sole N/A 1,367,780 VALE S A ADR DEPOSITORY RECEIPT 91912E105 81,986.56 2,824,201 Sole N/A 2,824,201 VALE S A ADR REPSTG PFD DEPOSITORY RECEIPTS 91912E204 95,998.58 3,867,791 Sole N/A 3,867,791 VALERO ENERGY CORP NEW COM COM 91913Y100 6,884.57 411,019 Sole N/A 411,019 VARIAN MED SYS INC COM COM 92220P105 10,333.10 220,557 Sole N/A 220,557 VECTREN CORP COM COM 92240G101 1,391.95 56,400 Sole N/A 56,400 VENTAS INC COM COM 92276F100 2,674.44 61,144 Sole N/A 61,144 VERISIGN INC COM COM 92343E102 10,413.41 429,596 Sole N/A 429,596 VERIZON COMMUNICATIONS INC COM COM USD 500 92343V104 111,312.40 3,359,867 Sole N/A 3,359,867 VERISK ANALYTICS INC CL A ADDED COMMON STOCK 92345Y106 1,732.02 57,200 Sole N/A 57,200 VERTEX PHARMACEUTICALS INC COM COM 92532F100 68.56 1,600 Sole N/A 1,600 VIACOM INC NEW CL B CL B 92553P201 1,942.74 65,346 Sole N/A 65,346 VISA INC COM CL A COM CL A 92826C839 12,404.63 141,832 Sole N/A 141,832
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- VITRAN CORP INC COM COM 92850E107 38.26 3,500 Sole N/A 3,500 VIVO PARTICIPACOES S A SPON ADR PFD GLOBAL NEW DEPOSITORY RECEIPTS 92855S200 9,913.80 319,800 Sole N/A 319,800 W & T OFFSHORE INC COM COM 92922P106 331.11 28,300 Sole N/A 28,300 WALTER ENERGY INC COM COM 93317Q105 6,122.70 81,300 Sole N/A 81,300 WASTE MGMT INC DEL COM COM 94106L109 2,482.26 73,418 Sole N/A 73,418 WELLPOINT INC COM COM 94973V107 14,912.16 255,827 Sole N/A 255,827 WINDSTREAM CORP COM COM 97381W104 6,006.32 546,526 Sole N/A 546,526 WIPRO LTD SPON ADR 1 SH SPONSORED ADR REPSTG 1 SH 97651M109 1,456.79 65,415 Sole N/A 65,415 XTO ENERGY INC COM COM 98385X106 14,092.68 302,873 Sole N/A 302,873 XCEL ENERGY INC COM COM 98389B100 3,782.10 178,233 Sole N/A 178,233 YAMANA GOLD INC COM COM 98462Y100 93,800.71 8,194,664 Sole N/A 8,194,664 ZIMMER HLDGS INC COM COM 98956P102 1,075.03 18,187 Sole N/A 18,187 AMDOCS LTD ORD SHS G02602103 4,051.06 141,993 Sole N/A 141,993 ARCH CAP GROUP LTD ORD SHS G0450A105 6,003.05 83,900 Sole N/A 83,900 ASPEN INSURANCE HOLDINGS LTD SHS SHS G05384105 7,520.48 295,500 Sole N/A 295,500 ASIA SPECIAL SIT ACQST CORP SHS SHS G0538M105 96.42 9,700 Sole N/A 9,700 AXIS CAPITAL HOLDINGS SHS SHS G0692U109 6,602.48 232,400 Sole N/A 232,400 ACCENTURE PLC IRELAND SHS CLASS A COMMON STOCK G1151C101 20,131.65 485,100 Sole N/A 485,100 BUNGE LIMITED COM SHS G16962105 13,819.20 216,500 Sole N/A 216,500 COOPER INDUSTRIES PLC SHS COMMON STOCK G24140108 2,910.35 68,254 Sole N/A 68,254 CREDICORP LTD COM SHS G2519Y108 9,333.21 121,179 Sole N/A 121,179 COVIDIEN PLC SHS COMMON STOCK G2554F105 35,043.70 731,754 Sole N/A 731,754 EVEREST RE GROUP LTD COM SHS G3223R108 6,460.27 75,400 Sole N/A 75,400 FRESH DEL MONTE PRODUCE INC ORD SHS G36738105 2,866.37 129,700 Sole N/A 129,700 GARMIN LTD ORD COM G37260109 997.75 32,500 Sole N/A 32,500 HERBALIFE LTD COM USD SHS SHS G4412G101 2,835.84 69,900 Sole N/A 69,900 INGERSOLL-RAND PLC SHS COMMON STOCK G47791101 1,482.28 41,474 Sole N/A 41,474 INVESCO LTD SHS SHS G491BT108 5,122.77 218,083 Sole N/A 218,083 LAZARD LTD SHS A SHS A G54050102 1,750.42 46,100 Sole N/A 46,100
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- MARVELL TECHNOLOGY GROUP LTD ORD SHS G5876H105 19,844.68 956,370 Sole N/A 956,370 NABORS INDUSTRIES LTD SHS SHS G6359F103 8,429.95 385,105 Sole N/A 385,105 OVERTURE ACQUISITION CORP SHS COM G6830P100 12.02 1,200 Sole N/A 1,200 PARTNERRE LTD COM COM G6852T105 15,081.32 202,000 Sole N/A 202,000 PLATINUM UNDERWRITER HLDGS L COM SHS G7127P100 19,087.57 498,500 Sole N/A 498,500 SEAGATE TECHNOLOGY SHS SHS G7945J104 16,285.20 895,283 Sole N/A 895,283 SEARCHMEDIA HOLDINGS LTD EXP CALL WTS 99/99/999 ADDED EXP19NOV11 G8005Y114 0.67 300 Sole N/A 300 SHIP FINANCE INTERNATIONAL L SHS COM USD1 G81075106 8.18 600 Sole N/A 600 VALIDUS HOLDINGS LTD COM SHS COM SHS G9319H102 7,865.16 291,951 Sole N/A 291,951 WARNER CHILCOTT PLC IRELAND SHS A COMMON STOCK G94368100 4,239.18 148,900 Sole N/A 148,900 WHITE MTNS INS GROUP LTD COM SHS G9618E107 266.13 800 Sole N/A 800 XL CAP LTD CL A SHS A G98255105 1,761.27 96,087 Sole N/A 96,087 ACE LTD SHS NAMEN AKT H0023R105 28,825.53 571,935 Sole N/A 571,935 ALCON INC COM SHS COM H01301102 15,153.07 92,200 Sole N/A 92,200 WEATHERFORD INTERNATIONAL LT REG SHS H27013103 15,032.97 839,362 Sole N/A 839,362 TRANSOCEAN LTD REG SHS NAMEN AKT H8817H100 26,140.29 315,704 Sole N/A 315,704 TYCO INTERNATIONAL LTD SHS COMMON STOCK H89128104 52,505.23 1,471,559 Sole N/A 1,471,559 TYCO ELECTRONICS LTD SWITZER SHS COMMON STOCK H8912P106 7,027.32 286,245 Sole N/A 286,245 CELLCOM ISRAEL LTD SHS SHS M2196U109 2,831.12 88,307 Sole N/A 88,307 CHECK POINT SOFTWARE TECH LT ORD COM M22465104 9,883.03 291,707 Sole N/A 291,707 CNH GLOBAL N V SHS NEW SHS NEW N20935206 4,046.99 162,009 Sole N/A 162,009 ROYAL CARIBBEAN CRUISES LTD COM SHS V7780T103 169.38 6,700 Sole N/A 6,700
Votring Value Investment Other Authority Name of Issuer Title of Class CUSIP (1000's) SHRS Discretion Managers Sole - -------------- -------------- ----- --------- ---- ---------- -------- --------- FLEXTRONICS INTL LTD ORD SHS Y2573F102 11,292.22 1,544,763 Sole N/A 1,544,763 NAVIOS MARITIME ACQUIS CORP SHS SHS Y62159101 4,574.88 465,400 Sole N/A 465,400 VERIGY LTD SHS SHS Y93691106 531.53 41,300 Sole N/A 41,300 $14,600,132 545,410,186
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