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
3M CO COM 88579Y101 203 1,235 SH   SOLE   870 0 365
AMERICAN ELEC PWR INC COM 025537101 408 6,725 SH   SOLE   4,290 0 2,435
AT&T INC COM 00206R102 515 15,330 SH   SOLE   1,880 0 13,450
BANK NEW YORK MELLON CORP COM 064058100 57,627 1,420,422 SH   SOLE   1,192,578 0 227,844
BECTON DICKINSON & CO COM 075887109 44,449 319,411 SH   SOLE   268,309 0 51,102
BERKLEY W R CORP COM 084423102 64,080 1,250,101 SH   SOLE   1,052,932 0 197,169
CAMPBELL SOUP CO COM 134429109 337 7,664 SH   SOLE   5,464 0 2,200
CENTRAL GOLDTRUST TR UNIT 153546106 422 10,370 SH   SOLE   10,180 0 190
CHEVRON CORP NEW COM 166764100 318 2,835 SH   SOLE   1,845 0 990
CLOROX CO DEL COM 189054109 596 5,715 SH   SOLE   4,000 0 1,715
COCA COLA CO COM 191216100 606 14,348 SH   SOLE   9,720 0 4,628
CONVERGYS CORP COM 212485106 381 18,720 SH   SOLE   3,360 0 15,360
DIAGEO P L C SPON ADR NEW 25243Q205 1,524 13,360 SH   SOLE   13,070 0 290
DUKE ENERGY CORP NEW COM NEW 26441C204 334 4,003 SH   SOLE   2,293 0 1,710
EMERSON ELEC CO COM 291011104 227 3,685 SH   SOLE   2,175 0 1,510
EXPEDITORS INTL WASH INC COM 302130109 49,141 1,101,574 SH   SOLE   933,766 0 167,808
EXPRESS SCRIPTS HLDG CO COM 30219G108 94,814 1,119,811 SH   SOLE   935,694 0 184,117
EXXON MOBIL CORP COM 30231G102 540 5,837 SH   SOLE   3,010 0 2,827
FRANCO NEVADA CORP COM 351858105 41,890 851,593 SH   SOLE   713,828 0 137,765
GENERAL ELECTRIC CO COM 369604103 502 19,865 SH   SOLE   12,885 0 6,980
ITC HLDGS CORP COM 465685105 46,499 1,150,113 SH   SOLE   966,113 0 184,000
JOHNSON & JOHNSON COM 478160104 393 3,758 SH   SOLE   2,663 0 1,095
MATTEL INC COM 577081102 374 12,100 SH   SOLE   7,595 0 4,505
MCCORMICK & CO INC COM NON VTG 579780206 48,904 658,201 SH   SOLE   552,244 0 105,957
MCDONALDS CORP COM 580135101 774 8,260 SH   SOLE   3,885 0 4,375
MICROSOFT CORP COM 594918104 58,903 1,268,093 SH   SOLE   1,054,310 0 213,783
NEWMONT MINING CORP COM 651639106 445 23,565 SH   SOLE   16,535 0 7,030
NORFOLK SOUTHERN CORP COM 655844108 310 2,825 SH   SOLE   1,800 0 1,025
NOVARTIS A G SPONSORED ADR 66987V109 396 4,279 SH   SOLE   3,084 0 1,195
PAYCHEX INC COM 704326107 227 4,910 SH   SOLE   3,637 0 1,273
PEPSICO INC COM 713448108 489 5,170 SH   SOLE   3,530 0 1,640
PHILIP MORRIS INTL INC COM 718172109 64,905 796,872 SH   SOLE   666,942 0 129,930
PRAXAIR INC COM 74005P104 30,598 236,169 SH   SOLE   198,405 0 37,764
PROCTER & GAMBLE CO COM 742718109 781 8,578 SH   SOLE   5,913 0 2,665
PUBLIC SVC ENTERPRISE GROUP COM 744573106 316 7,640 SH   SOLE   5,440 0 2,200
ROGERS COMMUNICATIONS INC CL B 775109200 436 11,230 SH   SOLE   7,050 0 4,180
ROYAL GOLD INC COM 780287108 43,305 690,669 SH   SOLE   570,818 0 119,851
SANOFI SPONSORED ADR 80105N105 67,836 1,487,299 SH   SOLE   1,260,531 0 226,768
SCHLUMBERGER LTD COM 806857108 38,365 449,186 SH   SOLE   374,966 0 74,220
SOUTHERN CO COM 842587107 518 10,540 SH   SOLE   6,645 0 3,895
SPECTRA ENERGY CORP COM 847560109 94,487 2,602,956 SH   SOLE   2,195,067 0 407,889
SYSCO CORP COM 871829107 56,846 1,432,238 SH   SOLE   1,194,875 0 237,363
TJX COS INC NEW COM 872540109 443 6,465 SH   SOLE   1,145 0 5,320
TRANSCANADA CORP COM 89353D107 541 11,010 SH   SOLE   7,575 0 3,435
UNILEVER PLC SPON ADR NEW 904767704 502 12,390 SH   SOLE   8,225 0 4,165
VANGUARD MALVERN FDS STRM INFPROIDX 922020805 304 6,300 SH   SOLE   6,160 0 140
WASTE MGMT INC DEL COM 94106L109 205 3,995 SH   SOLE   2,830 0 1,165
WESTERN UN CO COM 959802109 597 33,335 SH   SOLE   22,165 0 11,170