Eye on Shorts: What bearish investors are betting against

Company Name	Symbol	15-Feb-14	31-Jan-14	Net Chg
Lundin Mining Corp.	LUN-T	62,501,016	59,946,846	2,554,170
Bombardier Inc. Cl 'B' Sv	BBD.B-T	48,643,727	33,526,452	15,117,275
New Gold Inc.	NGD-T	38,829,821	37,313,906	1,515,915
Athabasca Oil Corp.	ATH-T	37,766,170	38,575,073	-808,903
Toronto-Dominion Bank	TD-T	37,537,308	18,018,794	19,518,514
Kinross Gold Corp.	K-T	36,202,354	38,476,484	-2,274,130
Torex Gold Resources Inc.	TXG-T	32,483,746	12,769,820	19,713,926
Penn West Petroleum Ltd.	PWT-T	32,171,426	31,049,928	1,121,498
Osisko Mining Corp.	OSK-T	31,057,069	43,056,301	-11,999,232
Legacy Oil + Gas Inc.	LEG-T	30,646,908	30,287,180	359,728
Celestica Inc. Sv	CLS-T	28,096,729	28,445,809	-349,080
CGI Group Inc. Cl 'A' Sv	GIB.A-T	27,407,335	25,403,200	2,004,135
Potash Corp. of Sask. Inc.	POT-T	26,284,850	18,898,885	7,385,965
Detour Gold Corp.	DGC-T	26,282,765	25,589,330	693,435
Royal Bank of Canada	RY-T	24,963,543	22,627,454	2,336,089
Power Financial Corp.	PWF-T	23,735,594	26,521,888	-2,786,294
Loblaw Companies Ltd.	L-T	23,431,674	22,848,091	583,583
Element Financial Corp.	EFN-T	23,424,790	23,207,887	216,903
Enbridge Inc.	ENB-T	22,508,685	17,418,076	5,090,609
First Quantum Minerals Ltd. J	FM-T	22,475,102	9,216,340	13,258,762

Company Name	Symbol	15-Feb-14	31-Jan-14	Net Chg
Torex Gold Resources Inc.	TXG-T	32,483,746	12,769,820	19,713,926
Toronto-Dominion Bank	TD-T	37,537,308	18,018,794	19,518,514
Eldorado Gold Corp.	ELD-T	19,733,102	1,798,278	17,934,824
Torex Gold Res. Inc. Wt J	TXG.WT-T	15,499,270	0	15,499,270
Bombardier Inc. Cl 'B' Sv	BBD.B-T	48,643,727	33,526,452	15,117,275
First Quantum Minerals Ltd.	FM-T	22,475,102	9,216,340	13,258,762
Brookfield Asset Mgmt. Inc. Cl 'A' Lv	BAM.A-T	9,856,474	1,386,880	8,469,594
Potash Corp. of Sask. Inc.	POT-T	26,284,850	18,898,885	7,385,965
Power Corp. of Cda Sv	POW-T	17,516,024	11,178,884	6,337,140
Fortis Inc.	FTS-T	12,704,586	6,945,386	5,759,200
Cameco Corp.	CCO-T	13,783,689	8,489,937	5,293,752
Enbridge Inc.	ENB-T	22,508,685	17,418,076	5,090,609
Silver Wheaton Corp.	SLW-T	10,662,790	6,134,189	4,528,601
Bank of Montreal	BMO-T	16,166,511	11,665,191	4,501,320
Surge Energy Inc.	SGY-T	8,161,897	4,369,767	3,792,130
ARC Resources Ltd.	ARX-T	8,136,525	4,467,349	3,669,176
Canadian Tire Corp., Ltd. Cl 'A' Nv	CTC.A-T	3,346,259	134,622	3,211,637
Baytex Energy Corp.	BTE-T	6,848,348	3,646,802	3,201,546
Crescent Point Energy Corp.	CPG-T	12,234,388	9,039,979	3,194,409
Western Forest Products Inc.	WEF-T	17,008,841	13,880,133	3,128,708

Company Name	Symbol	15-Feb-14	31-Jan-14	Net Chg
Osisko Mining Corp.	OSK-T	31,057,069	43,056,301	-11,999,232
Talisman Energy Inc.	TLM-T	11,884,866	23,695,738	-11,810,872
Encana Corp.	ECA-T	16,717,919	26,322,063	-9,604,144
Asanko Gold Inc.	AKG-T	454,394	8,833,389	-8,378,995
TransCanada Corp.	TRP-T	20,898,589	29,056,514	-8,157,925
Bank of Nova Scotia	BNS-T	18,586,931	25,837,106	-7,250,175
North American Palladium	PDL-T	5,797,749	12,835,278	-7,037,529
TransAlta Corp.	TA-T	9,213,341	15,266,653	-6,053,312
Thomson Reuters Corp.	TRI-T	16,528,919	21,726,469	-5,197,550
BCE Inc.	BCE-T	16,039,995	20,487,537	-4,447,542
Timmins Gold Corp.	TMM-T	600,584	4,953,830	-4,353,246
Husky Energy Inc.	HSE-T	17,742,212	21,110,046	-3,367,834
Canexus Corp.	CUS-T	3,821,054	7,072,155	-3,251,101
Agrium Inc.	AGU-T	2,045,270	5,166,498	-3,121,228
Power Financial Corp.	PWF-T	23,735,594	26,521,888	-2,786,294
Canadian Oil Sands Ltd.	COS-T	8,292,004	10,794,273	-2,502,269
Kinross Gold Corp.	K-T	36,202,354	38,476,484	-2,274,130
IGM Financial Inc.	IGM-T	8,889,678	11,157,837	-2,268,159
CIBC	CM-T	11,286,110	13,500,665	-2,214,555
Yamana Gold Inc.	YRI-T	20,436,255	22,633,451	-2,197,196

Company Name	Symbol	15-Feb-14	31-Jan-14	% Chg
Horizons Active High Yield Bond ETF Cl E Un	HYI-T	234,226	100	234,126
Can-60 Income Corp. Non-Voting Equity	CSY-T	150,300	100	150,200
Besra Gold Inc.	BEZ-T	400,000	800	49,900
Cvtech Group Inc.	CVT-T	42,200	100	42,100
BMO Canadian Dividend ETF Units	ZDV-T	165,553	500	33,010
Purpose Tactical Hedged Equity Fund ETF	PHE-T	24,600	100	24,500
Argex Titanium Inc. J	RGX-T	159,600	800	19,849
Vanguard US Total Mkt Indx ETF(CAD-Hedged) Un	VUS-T	16,300	100	16,200
Sulliden Gold Corp. Ltd.	SUE-T	438,600	3,100	14,048
U3O8 Corp.	UWE-T	138,300	1,000	13,730
iShares S&P US Div Grow Indx Fnd(CAD-Hdgd) Un	CUD-T	38,065	300	12,588
Canadian Tire Corp.	CTC-T	482,500	3,906	12,252
Sunshine Oilsands Cl 'A'	SUO-T	408,500	4,000	10,112
Mandalay Resources Corp.	MND-T	616,500	6,500	9,384
Peregrine Diamonds Ltd.	PGD-T	8,600	100	8,500
iShares Oil Sands Index Fund Units	CLO-T	8,250	100	8,150
Frontier Rare Earths Limited Ordinary	FRO-T	7,800	100	7,700
First Asset Can-Energy Covered Call ETF Un	OXF-T	7,800	100	7,700
Claude Resources Inc.	CRJ-T	30,300	393	7,609
TransCanada Corp. 1St Pr Series '9'	TRP.PR.E-T	54,117	755	7,067

Company Name	Symbol	15-Feb-14	31-Jan-14	% Chg
Horizons Btpr S&P500Vix Sh-Tr Future Invr ETF	HVI-T	200	183,300	-99
Microbix Biosystems Inc.	MBX-T	500	410,000	-99
Elgin Mining Inc.	ELG-T	200	163,000	-99
iShares US High Div Eq Idx Fnd(CAD-Hgd)ETF Un	XHD-T	115	57,574	-99
Powershares FTSE Rafi Cdn Fndmtl Index ETF Un	PXC-T	100	25,500	-99
Mint Income Fund Trust Units	MID.UN-T	2,700	625,386	-99
iShares Global Agriculture Index Fund Un	COW-T	300	61,878	-99
Horizons Betapro Nasdaq-100 Bear+ ETF Cl A Un	HQD-T	100	15,300	-99
Powershare S&P500Lw Vltlty(CAD Hdg)Idx ETF Un	ULV-T	100	10,400	-99
Powershares QQQ(CAD Hedged)Index ETF Trns Un	QQC-T	100	7,500	-98
Royal Bank Of Canada 1St Pr Non-Cum Ser 'AZ'	RY.PR.Z-T	2,200	148,960	-98
Western Potash Corp.	WPX-T	100	5,600	-98
BMO MSCI EAFE Hedged To CAD Index ETF Un	ZDM-T	600	30,741	-98
Sandvine Corp.	SVC-T	23,414	1,026,760	-97
Connacher Oil And Gas Ltd.	CLL-T	500	20,500	-97
Energy Income Fund Trust Units	ENI.UN-T	100	4,000	-97
Clearwater Seafoods Inc.	CLR-T	5,400	211,100	-97
BMO Covered Call Canadian Banks ETF Units	ZWB-T	1,900	70,801	-97
Milestone Apartments REIT Un	MST.UN-T	300	10,400	-97
BMO Aggregate Bond Index ETF Units	ZAG-T	2,000	64,245	-96

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