VALUE CONTRARIAN
CANADIAN EQUITY FUND

Top 10 Stock list:

(as of Mar 31, 2012)

Toronto Dominion Bank 8.679%
Berkshire Hathaway Inc 6.235%
Exxon Mobil Corp 3.847%
Livingston Intl 10.125% Due 11/09/15 3.580%
National Bank of Canada 3.391%
Bank of Nova Scotia 3.342%
TMX Group Inc. 3.062%
Royal Bank of Canada 2.963%
Canadian Imperial Bank of Commerce 2.866%
Canadian Pacific Railway 2.585%