The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
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
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
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
ALLEGHANY CORP DEL COM 017175100 294 703 SH   SOLE   553 0 150
AMERICAN ELEC PWR INC COM 025537101 397 7,600 SH   SOLE   5,680 0 1,920
AMERISOURCEBERGEN CORP COM 03073E105 1,660 21,470 SH   SOLE   15,890 0 5,580
APACHE CORP COM 037411105 52,643 560,812 SH   SOLE   464,265 0 96,547
AT&T INC COM 00206R102 493 13,980 SH   SOLE   1,700 0 12,280
BANK NEW YORK MELLON CORP COM 064058100 37,838 976,968 SH   SOLE   833,671 0 143,297
BECTON DICKINSON & CO COM 075887109 33,444 293,861 SH   SOLE   238,138 0 55,723
BERKLEY W R CORP COM 084423102 473 1,399,138 SH   SOLE   1,202,402 0 196,736
CAMPBELL SOUP CO COM 134429109 342 7,999 SH   SOLE   6,494 0 1,505
CENTRAL GOLDTRUST TR UNIT 153546106 434 10,480 SH   SOLE   10,290 0 190
CHECK POINT SOFTWARE TECH LT ORD M22465104 30,182 435,908 SH   SOLE   366,256 0 69,652
CLOROX CO DEL COM 189054109 4,954 51,580 SH   SOLE   43,600 0 7,980
COCA COLA CO COM 191216100 583 13,675 SH   SOLE   10,210 0 3,465
DUKE ENERGY CORP NEW COM NEW 26441C204 270 3,608 SH   SOLE   2,363 0 1,245
ENBRIDGE INC COM 29250N105 44,145 921,998 SH   SOLE   826,795 0 95,203
EXPEDITORS INTL WASH INC COM 302130109 44,208 1,089,405 SH   SOLE   930,462 0 158,943
EXPRESS SCRIPTS HLDG CO COM 30219G108 80,257 1,136,301 SH   SOLE   952,922 0 183,379
EXXON MOBIL CORP COM 30231G102 481 5,115 SH   SOLE   3,945 0 1,170
FRANCO NEVADA CORP COM 351858105 39,167 801,295 SH   SOLE   670,887 0 130,408
ITC HLDGS CORP COM 465685105 2,134 59,895 SH   SOLE   49,415 0 10,480
JOHNSON & JOHNSON COM 478160104 384 3,598 SH   SOLE   2,953 0 645
LIBERTY MEDIA CORP DELAWARE CL A 531229102 6,535 138,515 SH   SOLE   116,515 0 22,000
MATTEL INC COM 577081102 309 10,075 SH   SOLE   6,925 0 3,150
MCCORMICK & CO INC COM NON VTG 579780206 17,227 257,508 SH   SOLE   193,588 0 63,920
MCDONALDS CORP COM 580135101 764 8,060 SH   SOLE   3,900 0 4,160
MEDTRONIC INC COM 585055106 30,880 498,459 SH   SOLE   444,758 0 53,701
MICROSOFT CORP COM 594918104 61,165 1,319,347 SH   SOLE   1,107,155 0 212,192
NEWMONT MINING CORP COM 651639106 516 22,385 SH   SOLE   16,670 0 5,715
NORFOLK SOUTHERN CORP COM 655844108 311 2,790 SH   SOLE   2,020 0 770
NOVARTIS A G SPONSORED ADR 66987V109 534 5,669 SH   SOLE   5,147 0 522
PAYCHEX INC COM 704326107 208 4,710 SH   SOLE   4,335 0 375
PEPSICO INC COM 713448108 543 5,835 SH   SOLE   4,460 0 1,375
PHILIP MORRIS INTL INC COM 718172109 51,507 617,592 SH   SOLE   514,721 0 102,871
PRAXAIR INC COM 74005P104 27,833 215,757 SH   SOLE   182,529 0 33,228
PROCTER & GAMBLE CO COM 742718109 679 8,111 SH   SOLE   6,491 0 1,620
PUBLIC SVC ENTERPRISE GROUP COM 744573106 370 9,925 SH   SOLE   8,190 0 1,735
RAYONIER ADVANCED MATLS INC COM 75508B104 29,753 904,081 SH   SOLE   761,893 0 142,188
ROGERS COMMUNICATIONS INC CL B 775109200 336 8,990 SH   SOLE   6,905 0 2,085
ROYAL GOLD INC COM 780287108 42,357 652,250 SH   SOLE   537,273 0 114,977
SANOFI SPONSORED ADR 80105N105 30,296 536,869 SH   SOLE   451,725 0 85,144
SILVER WHEATON CORP COM 828336107 1,378 69,125 SH   SOLE   65,025 0 4,100
SOUTHERN CO COM 842587107 409 9,365 SH   SOLE   6,670 0 2,695
SPECTRA ENERGY CORP COM 847560109 62,004 1,579,305 SH   SOLE   1,290,721 0 288,584
SYSCO CORP COM 871829107 57,606 1,517,944 SH   SOLE   1,284,869 0 233,075
TARGET CORP COM 87612E106 351 5,600 SH   SOLE   990 0 4,610
TJX COS INC NEW COM 872540109 385 6,510 SH   SOLE   1,145 0 5,365
TRANSCANADA CORP COM 89353D107 517 10,025 SH   SOLE   7,600 0 2,425
UNILEVER PLC SPON ADR NEW 904767704 434 10,360 SH   SOLE   8,175 0 2,185
VANGUARD MALVERN FDS STRM INFPROIDX 922020805 323 6,550 SH   SOLE   6,410 0 140
WESTERN UN CO COM 959802109 66,879 29,490 SH   SOLE   22,335 0 7,155
YAMANA GOLD INC COM 98462Y100 331 55,245 SH   SOLE   40,800 0 14,445