Instuitional Investor - Thornmark Asset Management Inc.

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Technology Select Sector Spdr	XLK	47,910	$1,981,000	5.91%
2.	Financial Select Sector Spdr F		65,000	$1,607,000	4.79%
3.	Bank Of Montreal	BMO	2,126	$1,504,000	4.49%
4.	Consumer Staples Select Sector		30,370	$1,473,000	4.39%
5.	Capital One Financial Corp	COF	17,420	$1,438,000	4.29%