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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
BANK NOVA SCOTIA B C COM 064149107 27,363,265 300,000 SH SOLE 0 0 300,000
BANK OF MONTREAL COM 063671101 20,965,781 125,000 SH SOLE 0 0 125,000
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 24,897,500 50,000 SH SOLE 0 0 50,000
CANADIAN IMPERIAL BANK OF CO COM 136069101 22,093,318 200,000 SH SOLE 0 0 200,000
MANULIFE FINL CORP COM 56501R106 34,192,275 800,000 SH SOLE 0 0 800,000
MARKEL GROUP INC COM 570535104 15,155,183 8,850 SH SOLE 0 0 8,850
ROYAL BK CDA COM 780087102 14,798,069 75,000 SH SOLE 0 0 75,000
TORONTO DOMINION BK ONT COM NEW 891160509 23,587,539 200,000 SH SOLE 0 0 200,000
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 35,043,000 50,000 SH SOLE 0 0 50,000