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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

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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
BCE INC COM NEW 05534B760 7,550,000 250,000 SH SOLE 0 0 250,000
BANK MONTREAL QUE COM 063671101 18,863,750 125,000 SH SOLE 0 0 125,000
BANK NOVA SCOTIA HALIFAX COM 064149107 22,590,000 300,000 SH SOLE 0 0 300,000
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 12,479,431 25,690 SH SOLE 0 0 25,690
CANADIAN IMPERIAL BK COMM COM 136069101 19,332,000 200,000 SH SOLE 0 0 200,000
MANULIFE FINL CORP COM 56501R106 26,994,800 620,000 SH SOLE 0 0 620,000
MARKEL GROUP INC COM 570535104 11,185,216 5,600 SH SOLE 0 0 5,600
ROYAL BK CDA COM 780087102 11,665,550 65,000 SH SOLE 0 0 65,000
TORONTO DOMINION BK ONT COM NEW 891160509 20,032,000 200,000 SH SOLE 0 0 200,000
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 25,640,874 45,140 SH SOLE 0 0 45,140