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
3M CO COM 88579Y101 592 3,600 SH   SOLE   3,600 0 0
ABBOTT LABS COM 002824100 253 5,630 SH   SOLE   5,630 0 0
ABBVIE INC COM 00287Y109 368 5,630 SH   SOLE   5,630 0 0
ACXIOM CORP COM 005125109 264 13,000 SH   SOLE   13,000 0 0
ADVANTAGE OIL & GAS LTD COM 00765F101 1,149 239,730 SH   SOLE   239,730 0 0
AGILENT TECHNOLOGIES INC COM 00846U101 983 24,000 SH   SOLE   24,000 0 0
ALLEGHENY TECHNOLOGIES INC COM 01741R102 3,129 90,000 SH   SOLE   90,000 0 0
ALTERA CORP COM 021441100 1,926 52,140 SH   SOLE   52,140 0 0
ALTRIA GROUP INC COM 02209S103 877 17,800 SH   SOLE   17,800 0 0
APOLLO GLOBAL MGMT LLC CL A SHS 037612306 1,533 65,000 SH   SOLE   65,000 0 0
APPLE INC COM 037833100 8,297 75,165 SH   SOLE   75,165 0 0
APPLIED MATLS INC COM 038222105 5,928 237,900 SH   SOLE   237,900 0 0
ASML HOLDING N V N Y REGISTRY SHS N07059210 323 3,000 SH   SOLE   3,000 0 0
AT&T INC COM 00206R102 427 12,700 SH   SOLE   12,700 0 0
AUTOMATIC DATA PROCESSING IN COM 053015103 367 4,400 SH   SOLE   4,400 0 0
BANK AMER CORP COM 060505104 4,801 268,375 SH   SOLE   268,375 0 0
BANK MONTREAL QUE COM 063671101 461 6,506 SH   SOLE   6,506 0 0
BANK N S HALIFAX COM 064149107 1,083 18,940 SH   SOLE   18,940 0 0
BANK NEW YORK MELLON CORP COM 064058100 12,057 297,200 SH   SOLE   297,200 0 0
BARCLAYS PLC ADR 06738E204 150 10,000 SH   SOLE   10,000 0 0
BAYTEX ENERGY CORP COM 07317Q105 1,994 119,755 SH   SOLE   119,755 0 0
BAZAARVOICE INC COM 073271108 161 20,000 SH   SOLE   20,000 0 0
BCE INC COM NEW 05534B760 518 11,279 SH   SOLE   11,279 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 3,390 15 SH   SOLE   15 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 3,916 26,082 SH   SOLE   26,082 0 0
BLACKROCK INC COM 09247X101 375 1,050 SH   SOLE   1,050 0 0
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 423 12,500 SH   SOLE   12,500 0 0
BROADCOM CORP CL A 111320107 260 6,000 SH   SOLE   6,000 0 0
BROOKFIELD PPTY PARTNERS L P UNIT LTD PARTN G16249107 8,046 352,900 SH   SOLE   352,900 0 0
BROOKFIELD RESIDENTIAL PPTYS COM 11283W104 1,302 54,045 SH   SOLE   54,045 0 0
CAE INC COM 124765108 2,132 164,000 SH   SOLE   164,000 0 0
CAMECO CORP COM 13321L108 8,570 521,900 SH   SOLE   521,900 0 0
CANADIAN NAT RES LTD COM 136385101 1,009 32,600 SH   SOLE   32,600 0 0
CARMIKE CINEMAS INC COM 143436400 2,086 79,400 SH   SOLE   79,400 0 0
CARRIAGE SVCS INC COM 143905107 1,152 55,000 SH   SOLE   55,000 0 0
CDN IMPERIAL BK COMM TORONTO COM 136069101 390 4,529 SH   SOLE   4,529 0 0
CENOVUS ENERGY INC COM 15135U109 1,076 52,090 SH   SOLE   52,090 0 0
CHEVRON CORP NEW COM 166764100 965 8,600 SH   SOLE   8,600 0 0
CHURCHILL DOWNS INC COM 171484108 1,144 12,000 SH   SOLE   12,000 0 0
CISCO SYS INC COM 17275R102 5,918 212,765 SH   SOLE   212,765 0 0
CIT GROUP INC COM NEW 125581801 1,356 28,350 SH   SOLE   28,350 0 0
CITIGROUP INC COM NEW 172967424 8,359 154,479 SH   SOLE   154,479 0 0
COCA COLA CO COM 191216100 5,797 137,300 SH   SOLE   137,300 0 0
COVANTA HLDG CORP COM 22282E102 7,490 340,300 SH   SOLE   340,300 0 0
CREDIT SUISSE GROUP SPONSORED ADR 225401108 376 15,000 SH   SOLE   15,000 0 0
CST BRANDS INC COM 12646R105 2,442 56,000 SH   SOLE   56,000 0 0
CVS HEALTH CORP COM 126650100 1,943 20,175 SH   SOLE   20,175 0 0
DIAGEO P L C SPON ADR NEW 25243Q205 6,274 54,990 SH   SOLE   54,990 0 0
DINEEQUITY INC COM 254423106 1,347 13,000 SH   SOLE   13,000 0 0
DREW INDS INC COM NEW 26168L205 204 4,000 SH   SOLE   4,000 0 0
E M C CORP MASS COM 268648102 1,707 57,400 SH   SOLE   57,400 0 0
EATON CORP PLC SHS G29183103 1,556 22,900 SH   SOLE   22,900 0 0
EMERSON ELEC CO COM 291011104 444 7,200 SH   SOLE   7,200 0 0
ENBRIDGE INC COM 29250N105 4,861 94,401 SH   SOLE   94,401 0 0
ENERPLUS CORP COM 292766102 2,159 223,815 SH   SOLE   223,815 0 0
EVERCORE PARTNERS INC CLASS A 29977A105 393 7,500 SH   SOLE   7,500 0 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 305 3,600 SH   SOLE   3,600 0 0
EXXON MOBIL CORP COM 30231G102 365 3,950 SH   SOLE   3,950 0 0
F5 NETWORKS INC COM 315616102 1,826 14,000 SH   SOLE   14,000 0 0
FIREEYE INC COM 31816Q101 253 8,000 SH   SOLE   8,000 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 958 61,800 SH   SOLE   61,800 0 0
FORTRESS INVESTMENT GROUP LL CL A 34958B106 5,726 714,000 SH   SOLE   714,000 0 0
FULTON FINL CORP PA COM 360271100 124 10,000 SH   SOLE   10,000 0 0
GENERAL ELECTRIC CO COM 369604103 7,867 311,313 SH   SOLE   311,313 0 0
GENERAL MTRS CO COM 37045V100 436 12,500 SH   SOLE   12,500 0 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 8,610 201,460 SH   SOLE   201,460 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 852 4,395 SH   SOLE   4,395 0 0
GOOGLE INC CL A 38259P508 976 1,840 SH   SOLE   1,840 0 0
GOOGLE INC CL C 38259P706 1,219 2,315 SH   SOLE   2,315 0 0
GRAN TIERRA ENERGY INC COM 38500T101 597 155,000 SH   SOLE   155,000 0 0
GREENHILL & CO INC COM 395259104 427 9,800 SH   SOLE   9,800 0 0
HALLIBURTON CO COM 406216101 303 7,700 SH   SOLE   7,700 0 0
HALYARD HEALTH INC COM 40650V100 4,063 89,356 SH   SOLE   89,356 0 0
HEICO CORP NEW COM 422806109 1,812 30,000 SH   SOLE   30,000 0 0
HERTZ GLOBAL HOLDINGS INC COM 42805T105 1,150 46,100 SH   SOLE   46,100 0 0
HOSPIRA INC COM 441060100 1,225 20,000 SH   SOLE   20,000 0 0
HUNTINGTON BANCSHARES INC COM 446150104 697 66,250 SH   SOLE   66,250 0 0
INTEL CORP COM 458140100 2,649 72,988 SH   SOLE   72,988 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 578 3,600 SH   SOLE   3,600 0 0
INTERNATIONAL GAME TECHNOLOG COM 459902102 285 16,500 SH   SOLE   16,500 0 0
INTUIT COM 461202103 2,572 27,900 SH   SOLE   27,900 0 0
JOHNSON & JOHNSON COM 478160104 1,654 15,815 SH   SOLE   15,815 0 0
JPMORGAN CHASE & CO COM 46625H100 2,253 36,007 SH   SOLE   36,007 0 0
KAR AUCTION SVCS INC COM 48238T109 4,591 132,500 SH   SOLE   132,500 0 0
KIMBERLY CLARK CORP COM 494368103 2,086 18,058 SH   SOLE   18,058 0 0
KKR & CO L P DEL COM UNITS 48248M102 232 10,000 SH   SOLE   10,000 0 0
KRAFT FOODS GROUP INC COM 50076Q106 445 7,099 SH   SOLE   7,099 0 0
LAZARD LTD SHS A G54050102 5,503 110,000 SH   SOLE   110,000 0 0
LIBERTY BROADBAND CORP COM SER A 530307107 250 5,000 SH   SOLE   5,000 0 0
LIBERTY BROADBAND CORP RIGHT 01/09/2015 530307115 95 10,000 SH   SOLE   10,000 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 2,242 45,000 SH   SOLE   45,000 0 0
LIBERTY MEDIA CORP DELAWARE CL A 531229102 705 20,000 SH   SOLE   20,000 0 0
LIBERTY MEDIA CORP DELAWARE COM SER C 531229300 1,401 40,000 SH   SOLE   40,000 0 0
LULULEMON ATHLETICA INC COM 550021109 502 9,000 SH   SOLE   9,000 0 0
M & T BK CORP COM 55261F104 470 3,740 SH   SOLE   3,740 0 0
MAGNA INTL INC COM 559222401 5,678 52,325 SH   SOLE   52,325 0 0
MANULIFE FINL CORP COM 56501R106 3,538 185,078 SH   SOLE   185,078 0 0
MARINEMAX INC COM 567908108 1,405 70,100 SH   SOLE   70,100 0 0
MBIA INC COM 55262C100 577 60,500 SH   SOLE   60,500 0 0
MCDONALDS CORP COM 580135101 3,738 39,890 SH   SOLE   39,890 0 0
MERCK & CO INC NEW COM 58933Y105 7,385 130,050 SH   SOLE   130,050 0 0
METHES ENERGIES INTL LTD COM 591517107 66 48,657 SH   SOLE   48,657 0 0
MICROSOFT CORP COM 594918104 5,998 129,131 SH   SOLE   129,131 0 0
MONDELEZ INTL INC CL A 609207105 262 7,200 SH   SOLE   7,200 0 0
MORGAN STANLEY COM NEW 617446448 5,432 140,000 SH   SOLE   140,000 0 0
NCR CORP NEW COM 62886E108 440 15,100 SH   SOLE   15,100 0 0
NEW RESIDENTIAL INVT CORP COM NEW 64828T201 1,459 114,250 SH   SOLE   114,250 0 0
NORTH AMERN ENERGY PARTNERS COM 656844107 1,043 328,800 SH   SOLE   328,800 0 0
NUCOR CORP COM 670346105 312 6,365 SH   SOLE   6,365 0 0
OAKTREE CAP GROUP LLC UNIT CL A 674001201 3,374 65,100 SH   SOLE   65,100 0 0
OCH ZIFF CAP MGMT GROUP CL A 67551U105 3,623 310,150 SH   SOLE   310,150 0 0
PEMBINA PIPELINE CORP COM 706327103 300 8,210 SH   SOLE   8,210 0 0
PENGROWTH ENERGY CORP COM 70706P104 35 11,200 SH   SOLE   11,200 0 0
PEPSICO INC COM 713448108 889 9,405 SH   SOLE   9,405 0 0
PFIZER INC COM 717081103 8,841 283,806 SH   SOLE   283,806 0 0
PHH CORP COM NEW 693320202 300 12,500 SH   SOLE   12,500 0 0
POLYPORE INTL INC COM 73179V103 2,117 45,000 SH   SOLE   45,000 0 0
POOL CORPORATION COM 73278L105 317 5,000 SH   SOLE   5,000 0 0
POTASH CORP SASK INC COM 73755L107 4,997 141,141 SH   SOLE   141,141 0 0
PROCTER & GAMBLE CO COM 742718109 4,682 51,400 SH   SOLE   51,400 0 0
PROGRESSIVE WASTE SOLUTIONS COM 74339G101 1,807 60,000 SH   SOLE   60,000 0 0
PROSHARES TR SHRT 20+YR TRE 74347X849 568 22,570 SH   SOLE   22,570 0 0
RAYMOND JAMES FINANCIAL INC COM 754730109 7,920 138,250 SH   SOLE   138,250 0 0
REALOGY HLDGS CORP COM 75605Y106 1,468 33,000 SH   SOLE   33,000 0 0
RITE AID CORP COM 767754104 3,912 520,200 SH   SOLE   520,200 0 0
ROGERS COMMUNICATIONS INC CL B 775109200 361 9,262 SH   SOLE   9,262 0 0
ROYAL BK CDA MONTREAL QUE COM 780087102 879 12,703 SH   SOLE   12,703 0 0
ROYAL BK SCOTLAND GROUP PLC SPONS ADR 20 ORD 780097689 121 10,000 SH   SOLE   10,000 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 801 11,965 SH   SOLE   11,965 0 0
SALESFORCE COM INC COM 79466L302 415 7,000 SH   SOLE   7,000 0 0
SCHLUMBERGER LTD COM 806857108 306 3,580 SH   SOLE   3,580 0 0
SELECT COMFORT CORP COM 81616X103 541 20,000 SH   SOLE   20,000 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 499 6,300 SH   SOLE   6,300 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 1,140 46,100 SH   SOLE   46,100 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 1,131 27,350 SH   SOLE   27,350 0 0
SEMICONDUCTOR MFG INTL CORP SPONSORED ADR 81663N206 90 20,000 SH   SOLE   20,000 0 0
SERVICE CORP INTL COM 817565104 1,816 80,000 SH   SOLE   80,000 0 0
SHAW COMMUNICATIONS INC CL B CONV 82028K200 6,856 253,701 SH   SOLE   253,701 0 0
SOTHEBYS COM 835898107 432 10,000 SH   SOLE   10,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 2,932 14,270 SH   SOLE   14,270 0 0
SPECTRUM BRANDS HLDGS INC COM 84763R101 1,914 20,000 SH   SOLE   20,000 0 0
STAPLES INC COM 855030102 1,190 65,700 SH   SOLE   65,700 0 0
STATE STR CORP COM 857477103 911 11,600 SH   SOLE   11,600 0 0
STIFEL FINL CORP COM 860630102 255 5,000 SH   SOLE   5,000 0 0
SUNCOR ENERGY INC NEW COM 867224107 9,040 284,210 SH   SOLE   284,210 0 0
TD AMERITRADE HLDG CORP COM 87236Y108 415 11,600 SH   SOLE   11,600 0 0
TEMPUR SEALY INTL INC COM 88023U101 549 10,000 SH   SOLE   10,000 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 1,202 20,900 SH   SOLE   20,900 0 0
THOR INDS INC COM 885160101 223 4,000 SH   SOLE   4,000 0 0
TORONTO DOMINION BK ONT COM NEW 891160509 1,776 37,120 SH   SOLE   37,120 0 0
TOYOTA MOTOR CORP SP ADR REP2COM 892331307 1,468 11,700 SH   SOLE   11,700 0 0
TRANSALTA CORP COM 89346D107 131 14,500 SH   SOLE   14,500 0 0
TRANSCANADA CORP COM 89353D107 4,400 89,386 SH   SOLE   89,386 0 0
TUCOWS INC COM NEW 898697206 1,089 56,127 SH   SOLE   56,127 0 0
UNITED TECHNOLOGIES CORP COM 913017109 914 7,950 SH   SOLE   7,950 0 0
UR ENERGY INC COM 91688R108 21 25,000 SH   SOLE   25,000 0 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 679 12,960 SH   SOLE   12,960 0 0
VCA INC COM 918194101 488 10,000 SH   SOLE   10,000 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 6,984 149,300 SH   SOLE   149,300 0 0
WABCO HLDGS INC COM 92927K102 733 7,000 SH   SOLE   7,000 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 2,179 28,600 SH   SOLE   28,600 0 0
WAL-MART STORES INC COM 931142103 2,462 28,672 SH   SOLE   28,672 0 0
WELLS FARGO & CO NEW COM 949746101 365 6,650 SH   SOLE   6,650 0 0
YUM BRANDS INC COM 988498101 437 6,000 SH   SOLE   6,000 0 0
ZIONS BANCORPORATION COM 989701107 798 28,000 SH   SOLE   28,000 0 0