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, 2011
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: The Bank of Nova Scotia
Address: 40 King St. West
Scotia Plaza 9th Floor
Toronto, Ontario, M5H 1H1
13F File Number: 28-11475
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: Abdurrehman Muhammadi
Title: Vice President, Financial Accounting and Reporting
Phone: 416-866-7898
Signature, Place, and Date of Signing:
/s/ Abdurrehman Muhammadi Toronto, ON, Canada February 14, 2012
Report Type (Check only one.):
[ ] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ X] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
Form 13F File Number Name
028-11461 Scotia Capital Inc.
028-13705 Scotia Asset Management L.P.
028-11459 Bank of Nova Scotia Trust Co.
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 1
Form 13F Information Table Entry Total: 397
Form 13F Information Table Value Total: $15,849,554 (thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional managers with respect to which this report is filed, other
than the manager filing this report.
No. 13F File Number Name
028-11472 BNS Investment Inc.
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
3M CO COM 88579Y101 9644 118000 SH SOLE 118000 0 0
ABBOTT LABS COM 002824100 482 8571 SH DEFINED 1 8571 0 0
ABBOTT LABS COM 002824100 382 6800 SH SOLE 6800 0 0
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 17646 331500 SH SOLE 331500 0 0
ADVANCED MICRO DEVICES INC COM 007903107 1655 306479 SH SOLE 306479 0 0
AEGON N V NY REGISTRY SH 007924103 81 20347 SH DEFINED 20347 0 0
AES CORP COM 00130H105 393 33200 SH SOLE 33200 0 0
AETERNA ZENTARIS INC COM 007975204 551 360000 SH SOLE 360000 0 0
AFLAC INC COM 001055102 5370 124127 SH SOLE 124127 0 0
AGNICO EAGLE MINES LTD COM 008474108 356 9796 SH DEFINED 1 9796 0 0
AGNICO EAGLE MINES LTD COM 008474108 18130 498507 SH SOLE 498507 0 0
AGRIUM INC COM 008916108 38490 573436 SH SOLE 573436 0 0
ALLIANCE DATA SYSTEMS CORP COM 018581108 11132 107204 SH SOLE 107204 0 0
ALLIANCE ONE INTL INC COM 018772103 1352 497007 SH SOLE 497007 0 0
ALLIANCE ONE INTL INC COM 018772103 202 74100 SH DEFINED 1 74100 0 0
AMERICAN EQTY INVT LIFE HLD COM 025676206 1827 175669 SH SOLE 175669 0 0
AMERICAN TOWER CORP CL A 029912201 294 4900 SH SOLE 4900 0 0
AMGEN INC COM 031162100 7866 122500 SH SOLE 122500 0 0
ANADARKO PETE CORP COM 032511107 11449 150000 SH SOLE 150000 0 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 1914 31379 SH SOLE 31379 0 0
APPLE INC COM 037833100 507 1254 SH DEFINED 1254 0 0
APPLE INC COM 037833100 224 555 SH DEFINED 1 555 0 0
APPLIED MATLS INC COM 038222105 8489 792608 SH SOLE 792608 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 5011 175122 SH SOLE 175122 0 0
AT&T INC COM 00206R102 9072 300000 SH SOLE 300000 0 0
AT&T INC COM 00206R102 747 24698 SH DEFINED 1 24698 0 0
ATLANTIC PWR CORP COM NEW 04878Q863 21372 1499446 SH SOLE 1499446 0 0
AURICO GOLD INC COM 05155C105 2412 300000 SH SOLE 300000 0 0
AURIZON MINES LTD COM 05155P106 368 75000 SH SOLE 75000 0 0
AUTOMATIC DATA PROCESSING IN COM 053015103 10664 197450 SH SOLE 197450 0 0
BANCO BRADESCO S A SP ADR PFD NEW 059460303 29451 1765680 SH DEFINED 1 1765680 0 0
BANCO BRADESCO S A SP ADR PFD NEW 059460303 8719 522750 SH SOLE 522750 0 0
BANCO SANTANDER BRASIL S A ADS REP 1 UNIT 05967A107 1017 124950 SH SOLE 124950 0 0
BANCO SANTANDER SA ADR 05964H105 1248 166001 SH SOLE 166001 0 0
BANCO SANTANDER SA ADR 05964H105 230 30612 SH DEFINED 30612 0 0
BANCO SANTANDER SA ADR 05964H105 79 10515 SH DEFINED 1 10515 0 0
BANK MONTREAL QUE COM 063671101 207 3800 SH DEFINED 1 3800 0 0
BANK MONTREAL QUE COM 063671101 1117547 20373704 SH SOLE 20373704 0 0
BANK NOVA SCOTIA HALIFAX COM 064149107 4733 94761 SH DEFINED 1 94761 0 0
BANK OF AMERICA CORPORATION COM 060505104 154 27706 SH DEFINED 27706 0 0
BANK OF AMERICA CORPORATION COM 060505104 75 13514 SH DEFINED 1 13514 0 0
BANK OF AMERICA CORPORATION COM 060505104 11274 2027606 SH SOLE 2027606 0 0
BARCLAYS BANK PLC ETN DJUBS NAT37 06739H644 37 10000 SH DEFINED 10000 0 0
BARCLAYS BK PLC DJUBS CMDT ETN36 06738C778 1763 41740 SH DEFINED 41740 0 0
BARRICK GOLD CORP COM 067901108 125081 2761097 SH SOLE 2761097 0 0
BAYTEX ENERGY CORP COM 07317Q105 10144 181400 SH SOLE 181400 0 0
BCE INC COM NEW 05534B760 471 11285 SH DEFINED 1 11285 0 0
BCE INC COM NEW 05534B760 143813 3449671 SH SOLE 3449671 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 4590 40 SH DEFINED 1 40 0 0
BEST BUY INC COM 086516101 549 23500 SH SOLE 23500 0 0
BHP BILLITON LTD SPONSORED ADR 088606108 1624 23000 SH SOLE 23000 0 0
BLDRS INDEX FDS TR EMER MK 50 ADR 09348R300 249 6534 SH DEFINED 1 6534 0 0
BOSTON SCIENTIFIC CORP COM 101137107 715 133814 SH SOLE 133814 0 0
BRASKEM S A SP ADR PFD A 105532105 238 16900 SH SOLE 16900 0 0
BRIGUS GOLD CORP COM 109490102 491 500000 SH SOLE 500000 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 366 10400 SH DEFINED 1 10400 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 16071 456038 SH SOLE 456038 0 0
BROCADE COMMUNICATIONS SYS I COM NEW 111621306 176 34000 SH DEFINED 1 34000 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 374533 13607314 SH SOLE 13607314 0 0
BROOKFIELD OFFICE PPTYS INC COM 112900105 120996 7718385 SH SOLE 7718385 0 0
CAE INC COM 124765108 19917 2051556 SH SOLE 2051556 0 0
CAMECO CORP COM 13321L108 18549 1026439 SH SOLE 1026439 0 0
CAMPBELL SOUP CO COM 134429109 274 8250 SH DEFINED 1 8250 0 0
CANADIAN NAT RES LTD COM 136385101 114124 3047488 SH SOLE 3047488 0 0
CANADIAN NATL RY CO COM 136375102 281613 3579390 SH SOLE 3579390 0 0
CANADIAN PAC RY LTD COM 13645T100 17038 224509 SH SOLE 224509 0 0
CARNIVAL CORP PAIRED CTF 143658300 1255 38440 SH SOLE 38440 0 0
CATERPILLAR INC DEL COM 149123101 1181 13043 SH DEFINED 1 13043 0 0
CDN IMPERIAL BK OF COMMERCE COM 136069101 309 4263 SH DEFINED 1 4263 0 0
CDN IMPERIAL BK OF COMMERCE COM 136069101 1170585 16160945 SH SOLE 16160945 0 0
CELGENE CORP COM 151020104 258 3830 SH DEFINED 3830 0 0
CEMEX SAB DE CV SPON ADR NEW 151290889 4699 871769 SH SOLE 871769 0 0
CENOVUS ENERGY INC COM 15135U109 276284 8319828 SH SOLE 8319828 0 0
CENTRAL FD CDA LTD CL A 153501101 583 29743 SH DEFINED 1 29743 0 0
CHESAPEAKE ENERGY CORP COM 165167107 1271 57000 SH SOLE 57000 0 0
CHEVRON CORP NEW COM 166764100 568 5346 SH DEFINED 1 5346 0 0
CHINA MOBILE LIMITED SPONSORED ADR 16941M109 9359 193000 SH SOLE 193000 0 0
CISCO SYS INC COM 17275R102 903 49958 SH DEFINED 49958 0 0
CISCO SYS INC COM 17275R102 11178 618151 SH SOLE 618151 0 0
CITIGROUP INC COM NEW 172967424 2113 80294 SH SOLE 80294 0 0
COCA COLA CO COM 191216100 630 9013 SH DEFINED 9013 0 0
COCA COLA CO COM 191216100 210 3006 SH DEFINED 1 3006 0 0
COCA COLA CO COM 191216100 21691 310000 SH SOLE 310000 0 0
COLGATE PALMOLIVE CO COM 194162103 644 6973 SH DEFINED 6973 0 0
COLGATE PALMOLIVE CO COM 194162103 1478 16000 SH SOLE 16000 0 0
COMCAST CORP NEW CL A SPL 20030N200 7068 300000 SH DEFINED 1 300000 0 0
COMPANHIA DE BEBIDAS DAS AME SPON ADR PFD 20441W203 7117 197200 SH SOLE 197200 0 0
COMPANHIA ENERGETICA DE MINA SP ADR N-V PFD 204409601 1996 112200 SH SOLE 112200 0 0
COMPANHIA SIDERURGICA NACION SPONSORED ADR 20440W105 1738 212500 SH SOLE 212500 0 0
COMPANIA DE MINAS BUENAVENTU SPONSORED ADR 204448104 136075 3549157 SH DEFINED 1 3549157 0 0
CONAGRA FOODS INC COM 205887102 559 21200 SH DEFINED 1 21200 0 0
CONAGRA FOODS INC COM 205887102 16143 611460 SH SOLE 611460 0 0
CONOCOPHILLIPS COM 20825C104 963 13213 SH DEFINED 1 13213 0 0
CONSOLIDATED EDISON INC COM 209115104 282 4550 SH DEFINED 1 4550 0 0
CONSTELLATION BRANDS INC CL A 21036P108 382 18500 SH DEFINED 1 18500 0 0
COSAN LTD SHS A G25343107 4822 440000 SH DEFINED 1 440000 0 0
COVANTA HLDG CORP COM 22282E102 21094 1541196 SH SOLE 1541196 0 0
CREDICORP LTD COM G2519Y108 202231 1847370 SH DEFINED 1 1847370 0 0
CROWN HOLDINGS INC COM 228368106 5037 150000 SH DEFINED 1 150000 0 0
CSX CORP COM 126408103 8845 420000 SH SOLE 420000 0 0
CUMMINS INC COM 231021106 4357 49500 SH SOLE 49500 0 0
DEERE & CO COM 244199105 832 10762 SH SOLE 10762 0 0
DELL INC COM 24702R101 1197 81800 SH SOLE 81800 0 0
DOW CHEM CO COM 260543103 7909 275000 SH SOLE 275000 0 0
DRAGONWAVE INC COM 26144M103 34 10000 SH SOLE 10000 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 277 6065 SH DEFINED 6065 0 0
E M C CORP MASS COM 268648102 26653 1237388 SH SOLE 1237388 0 0
EBAY INC COM 278642103 636 21000 SH DEFINED 21000 0 0
EL PASO CORP COM 28336L109 6908 260000 SH SOLE 260000 0 0
ELDORADO GOLD CORP NEW COM 284902103 23858 1733600 SH SOLE 1733600 0 0
EMPRESA NACIONAL DE ELCTRCID SPONSORED ADR 29244T101 548 12368 SH DEFINED 12368 0 0
ENBRIDGE INC COM 29250N105 1098091 29368898 SH SOLE 29368898 0 0
ENCANA CORP COM 292505104 162079 8740849 SH SOLE 8740849 0 0
ENCANA CORP COM 292505104 260 14000 SH DEFINED 14000 0 0
ENERPLUS CORP COM 292766102 11924 469900 SH SOLE 469900 0 0
ENERSIS S A SPONSORED ADR 29274F104 211 12000 SH DEFINED 12000 0 0
ENTREE GOLD INC COM 29383G100 73 59250 SH SOLE 59250 0 0
ERICSSON L M TEL CO ADR B SEK 10 294821608 9623 950000 SH SOLE 950000 0 0
EXCO RESOURCES INC COM 269279402 199 19000 SH DEFINED 1 19000 0 0
EXTERRAN HLDGS INC COM 30225X103 2454 269623 SH SOLE 269623 0 0
EXXON MOBIL CORP COM 30231G102 8820 104068 SH SOLE 104068 0 0
EXXON MOBIL CORP COM 30231G102 1155 13635 SH DEFINED 13635 0 0
EXXON MOBIL CORP COM 30231G102 514 6072 SH DEFINED 1 6072 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 3491 324469 SH SOLE 324469 0 0
FOREST CITY ENTERPRISES INC CL A 345550107 3831 324146 SH SOLE 324146 0 0
FRANCO NEVADA CORP COM 351858105 994 26100 SH SOLE 26100 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 643 17490 SH DEFINED 17490 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 94440 2566983 SH DEFINED 1 2566983 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 9124 248000 SH SOLE 248000 0 0
GABELLI EQUITY TR INC COM 362397101 58 11625 SH DEFINED 1 11625 0 0
GAFISA S A SPONS ADR 362607301 66 14460 SH DEFINED 14460 0 0
GAYLORD ENTMT CO NEW COM 367905106 3112 128920 SH SOLE 128920 0 0
GENERAL ELECTRIC CO COM 369604103 11717 654246 SH SOLE 654246 0 0
GENERAL ELECTRIC CO COM 369604103 881 49244 SH DEFINED 49244 0 0
GENERAL ELECTRIC CO COM 369604103 469 26200 SH DEFINED 1 26200 0 0
GENERAL MLS INC COM 370334104 8082 200000 SH SOLE 200000 0 0
GERDAU S A SPONSORED ADR 373737105 1374 175950 SH SOLE 175950 0 0
GILDAN ACTIVEWEAR INC COM 375916103 5917 314600 SH SOLE 314600 0 0
GILEAD SCIENCES INC COM 375558103 18655 455974 SH SOLE 455974 0 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 2281 50000 SH SOLE 50000 0 0
GOLDCORP INC NEW COM 380956409 102526 2310252 SH SOLE 2310252 0 0
GOODYEAR TIRE & RUBR CO COM 382550101 1268 89456 SH SOLE 89456 0 0
GOOGLE INC CL A 38259P508 1026 1590 SH DEFINED 1590 0 0
GROUPE CGI INC CL A SUB VTG 39945C109 867 46000 SH SOLE 46000 0 0
GRUPO TELEVISA SA SPON ADR REP ORD 40049J206 1601 76040 SH SOLE 76040 0 0
HALLIBURTON CO COM 406216101 10353 300000 SH SOLE 300000 0 0
HEINZ H J CO COM 423074103 21164 391647 SH SOLE 391647 0 0
HERSHEY CO COM 427866108 436 7060 SH SOLE 7060 0 0
HEWLETT PACKARD CO COM 428236103 2887 112072 SH SOLE 112072 0 0
HOME DEPOT INC COM 437076102 12612 300000 SH SOLE 300000 0 0
HUDBAY MINERALS INC COM 443628102 1991 200000 SH SOLE 200000 0 0
HUMAN GENOME SCIENCES INC COM 444903108 2685 363287 SH SOLE 363287 0 0
IAMGOLD CORP COM 450913108 15519 977100 SH SOLE 977100 0 0
ICONIX BRAND GROUP INC COM 451055107 4279 262700 SH SOLE 262700 0 0
IMPERIAL OIL LTD COM NEW 453038408 29838 669684 SH SOLE 669684 0 0
INTEL CORP COM 458140100 15827 652640 SH SOLE 652640 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 3578 19461 SH SOLE 19461 0 0
INTERNATIONAL GAME TECHNOLOG COM 459902102 2255 131100 SH SOLE 131100 0 0
ISHARES INC MSCI BRAZIL 464286400 73057 1272964 SH DEFINED 1 1272964 0 0
ISHARES INC MSCI BRAZIL 464286400 1262 22000 SH DEFINED 22000 0 0
ISHARES INC MSCI CDA INDEX 464286509 2988 112250 SH DEFINED 1 112250 0 0
ISHARES INC MSCI CHILE INVES 464286640 351 6102 SH DEFINED 1 6102 0 0
ISHARES INC MSCI CHILE INVES 464286640 288 5000 SH DEFINED 5000 0 0
ISHARES INC MSCI FRANCE 464286707 212 10845 SH DEFINED 1 10845 0 0
ISHARES INC MSCI TAIWAN 464286731 333 28419 SH DEFINED 1 28419 0 0
ISHARES INC MSCI GERMAN 464286806 2554 132905 SH DEFINED 132905 0 0
ISHARES INC MSCI GERMAN 464286806 8318 303615 SH DEFINED 1 303615 0 0
ISHARES INC MSCI MEX INVEST 464286822 1514 28122 SH DEFINED 1 28122 0 0
ISHARES INC MSCI MALAYSIA 464286830 637 47394 SH DEFINED 1 47394 0 0
ISHARES INC MSCI JAPAN 464286848 3072 337305 SH DEFINED 337305 0 0
ISHARES INC MSCI HONG KONG 464286871 184 11905 SH DEFINED 1 11905 0 0
ISHARES SILVER TRUST ISHARES 46428Q109 1124 41750 SH DEFINED 1 41750 0 0
ISHARES TR S&P 100 IDX FD 464287101 365 6400 SH DEFINED 1 6400 0 0
ISHARES TR FTSE CHINA25 IDX 464287184 666 19111 SH DEFINED 1 19111 0 0
ISHARES TR S&P 500 INDEX 464287200 771 6121 SH DEFINED 1 6121 0 0
ISHARES TR MSCI EMERG MKT 464287234 2678 70600 SH DEFINED 70600 0 0
ISHARES TR MSCI EMERG MKT 464287234 13230 348717 SH DEFINED 1 348717 0 0
ISHARES TR IBOXX INV CPBD 464287242 1043 9172 SH DEFINED 1 9172 0 0
ISHARES TR S&P LTN AM 40 464287390 976 22926 SH DEFINED 1 22926 0 0
ISHARES TR S&P 500 VALUE 464287408 6884 119039 SH DEFINED 119039 0 0
ISHARES TR MSCI EAFE INDEX 464287465 1615 32527 SH DEFINED 1 32527 0 0
ISHARES TR RUSSELL MIDCAP 464287499 1645 16715 SH DEFINED 16715 0 0
ISHARES TR S&P MIDCAP 400 464287507 2297 26225 SH DEFINED 26225 0 0
ISHARES TR NASDQ BIO INDX 464287556 28957 277500 SH DEFINED 1 277500 0 0
ISHARES TR S&P GLB100INDX 464287572 4888 84210 SH DEFINED 1 84210 0 0
ISHARES TR RUSSELL1000VAL 464287598 335 5270 SH DEFINED 1 5270 0 0
ISHARES TR RUSSELL 2000 464287655 45427 610230 SH SOLE 610230 0 0
ISHARES TR RUSSELL 3000 464287689 423 5700 SH DEFINED 1 5700 0 0
ISHARES TR DJ US TECH SEC 464287721 4623 71100 SH DEFINED 1 71100 0 0
ISHARES TR MSCI ACJPN IDX 464288182 4351 87201 SH DEFINED 87201 0 0
ISHARES TR MSCI ACJPN IDX 464288182 916 17886 SH DEFINED 1 17886 0 0
ISHARES TR HIGH YLD CORP 464288513 3980 44515 SH DEFINED 1 44515 0 0
ISHARES TR BARCLYS SH TREA 464288679 2901 26300 SH DEFINED 1 26300 0 0
ISHARES TR MSCI PERU CAP 464289842 48621 1267099 SH DEFINED 1 1267099 0 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 29617 1595719 SH DEFINED 1 1595719 0 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 15769 849600 SH SOLE 849600 0 0
IVANHOE ENERGY INC COM 465790103 1017 925400 SH SOLE 925400 0 0
IVANHOE MINES LTD COM 46579N103 2788 157000 SH SOLE 157000 0 0
JOHNSON & JOHNSON COM 478160104 588 8965 SH DEFINED 1 8965 0 0
JOHNSON & JOHNSON COM 478160104 21629 329815 SH SOLE 329815 0 0
JPMORGAN CHASE & CO COM 46625H100 235 7075 SH DEFINED 7075 0 0
JPMORGAN CHASE & CO COM 46625H100 6753 203112 SH SOLE 203112 0 0
KIMBERLY CLARK CORP COM 494368103 15529 211100 SH SOLE 211100 0 0
KINGSWAY FINL SVCS INC COM 496904103 26 50500 SH SOLE 50500 0 0
KINROSS GOLD CORP COM NO PAR 496902404 37102 3249947 SH SOLE 3249947 0 0
KNIGHT CAP GROUP INC CL A COM 499005106 4438 375460 SH SOLE 375460 0 0
KOPIN CORP COM 500600101 159 41000 SH DEFINED 1 41000 0 0
KRAFT FOODS INC CL A 50075N104 504 13500 SH DEFINED 1 13500 0 0
KRAFT FOODS INC CL A 50075N104 35427 948260 SH SOLE 948260 0 0
LILLY ELI & CO COM 532457108 7082 170400 SH SOLE 170400 0 0
LLOYDS BANKING GROUP PLC SPONSORED ADR 539439109 62 40000 SH DEFINED 40000 0 0
LOWES COS INC COM 548661107 2145 84500 SH SOLE 84500 0 0
LULULEMON ATHLETICA INC COM 550021109 37317 800000 SH SOLE 800000 0 0
MAGNA INTL INC COM 559222401 37292 1117376 SH SOLE 1117376 0 0
MANPOWERGROUP INC COM 56418H100 321 9000 SH DEFINED 9000 0 0
MANULIFE FINL CORP COM 56501R106 489305 45942081 SH SOLE 45942081 0 0
MARATHON OIL CORP COM 565849106 263 9000 SH DEFINED 1 9000 0 0
MARKET VECTORS ETF TR GOLD MINER ETF 57060U100 683 13285 SH DEFINED 1 13285 0 0
MARKET VECTORS ETF TR RUSSIA ETF 57060U506 373 14000 SH DEFINED 14000 0 0
MARKET VECTORS ETF TR AGRIBUS ETF 57060U605 507 10760 SH DEFINED 1 10760 0 0
MARKET VECTORS ETF TR BRAZL SMCP ETF 57060U613 2136 58609 SH DEFINED 1 58609 0 0
MARKET VECTORS ETF TR BRAZL SMCP ETF 57060U613 655 18000 SH DEFINED 18000 0 0
MARSH & MCLENNAN COS INC COM 571748102 230 7300 SH DEFINED 7300 0 0
MARTEN TRANS LTD COM 573075108 5464 303750 SH DEFINED 1 303750 0 0
MCDONALDS CORP COM 580135101 244 2434 SH DEFINED 2434 0 0
MCDONALDS CORP COM 580135101 18309 182482 SH SOLE 182482 0 0
MEDTRONIC INC COM 585055106 351 9200 SH DEFINED 9200 0 0
MEDTRONIC INC COM 585055106 7089 185324 SH SOLE 185324 0 0
MERCK & CO INC NEW COM 58933Y105 210 5580 SH DEFINED 5580 0 0
MERCK & CO INC NEW COM 58933Y105 10944 290300 SH SOLE 290300 0 0
METHANEX CORP COM 59151K108 36534 1595998 SH SOLE 1595998 0 0
MGM RESORTS INTERNATIONAL COM 552953101 4384 420371 SH SOLE 420371 0 0
MI DEVS INC COM 55304X104 16855 526880 SH SOLE 526880 0 0
MICRON TECHNOLOGY INC COM 595112103 13315 2116915 SH SOLE 2116915 0 0
MICROSOFT CORP COM 594918104 14188 543977 SH SOLE 543977 0 0
MICROSOFT CORP COM 594918104 295 11385 SH DEFINED 11385 0 0
MICROSOFT CORP COM 594918104 284 10967 SH DEFINED 1 10967 0 0
MONSANTO CO NEW COM 61166W101 5255 75000 SH SOLE 75000 0 0
MOTOROLA SOLUTIONS INC COM NEW 620076307 320 6915 SH SOLE 6915 0 0
MYLAN INC COM 628530107 478 22258 SH SOLE 22258 0 0
NANOSPHERE INC COM 63009F105 65 44430 SH DEFINED 1 44430 0 0
NAVISTAR INTL CORP NEW COM 63934E108 362 9599 SH SOLE 9599 0 0
NEVSUN RES LTD COM 64156L101 1389 250000 SH SOLE 250000 0 0
NEW GOLD INC CDA COM 644535106 865 85700 SH SOLE 85700 0 0
NEWMONT MINING CORP COM 651639106 23819 396829 SH SOLE 396829 0 0
NEXEN INC COM 65334H102 28106 1766341 SH SOLE 1766341 0 0
NIKE INC CL B 654106103 1995 20705 SH SOLE 20705 0 0
NISOURCE INC COM 65473P105 7143 300000 SH SOLE 300000 0 0
NOKIA CORP SPONSORED ADR 654902204 57 12000 SH DEFINED 12000 0 0
NOKIA CORP SPONSORED ADR 654902204 3493 724640 SH SOLE 724640 0 0
NORDSTROM INC COM 655664100 497 10000 SH SOLE 10000 0 0
NORFOLK SOUTHERN CORP COM 655844108 213 2930 SH DEFINED 2930 0 0
NORTHERN DYNASTY MINERALS LT COM NEW 66510M204 2415 400000 SH SOLE 400000 0 0
NOVAGOLD RES INC COM NEW 66987E206 667 78300 SH SOLE 78300 0 0
NVIDIA CORP COM 67066G104 682 49200 SH SOLE 49200 0 0
OFFICE DEPOT INC COM 676220106 703 327148 SH SOLE 327148 0 0
OPEN TEXT CORP COM 683715106 16765 327000 SH SOLE 327000 0 0
ORACLE CORP COM 68389X105 17988 701260 SH SOLE 701260 0 0
PAN AMERICAN SILVER CORP COM 697900108 495 22615 SH SOLE 22615 0 0
PAYCHEX INC COM 704326107 6022 200000 SH SOLE 200000 0 0
PENGROWTH ENERGY CORP COM 70706P104 2081 197000 SH SOLE 197000 0 0
PENN WEST PETE LTD NEW COM 707887105 30331 1530429 SH SOLE 1530429 0 0
PEPSICO INC COM 713448108 14431 217500 SH SOLE 217500 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 9574 385300 SH DEFINED 1 385300 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 30836 1240900 SH SOLE 1240900 0 0
PFIZER INC COM 717081103 465 21510 SH DEFINED 21510 0 0
PFIZER INC COM 717081103 204 9466 SH DEFINED 1 9466 0 0
PFIZER INC COM 717081103 26242 1212651 SH SOLE 1212651 0 0
PHILIP MORRIS INTL INC COM 718172109 373 4757 SH DEFINED 4757 0 0
PIMCO ETF TR INV GRD CRP BD 72201R817 343 3415 SH DEFINED 1 3415 0 0
PIMCO INCOME STRATEGY FUND COM 72201H108 354 34082 SH DEFINED 1 34082 0 0
POLYMET MINING CORP COM 731916102 1042 1011250 SH SOLE 1011250 0 0
POTASH CORP SASK INC COM 73755L107 95680 2314707 SH SOLE 2314707 0 0
POWERSHARES DB CMDTY IDX TRA UNIT BEN INT 73935S105 3403 126801 SH DEFINED 126801 0 0
POWERSHARES INDIA ETF TR INDIA PORT 73935L100 12665 777000 SH SOLE 777000 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 105352 1887000 SH DEFINED 1 1887000 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 1879 33650 SH SOLE 33650 0 0
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SPDR DOW JONES INDL AVRG ETF UT SER 1 78467X109 1540 12635 SH DEFINED 1 12635 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 15245 100300 SH SOLE 100300 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 48280 317647 SH DEFINED 1 317647 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 5078 33416 SH DEFINED 33416 0 0
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SPDR S&P 500 ETF TR TR UNIT 78462F103 12247 97588 SH DEFINED 97588 0 0
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