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
ACCENTURE PLC-CL A COM G1151C101 22,031 65,328 SH   SOLE   65,328 0 0
ADOBE INC COM 00724F101 15,165 33,285 SH   SOLE   33,285 0 0
AGILENT TECHNOLOGIES INC COM 00846U101 230,677 1,743,194 SH   SOLE   1,743,194 0 0
ALPHABET INC-CL A COM 02079K305 775,376 278,777 SH   SOLE   278,777 0 0
AMERICAN EXPRESS CO COM 025816109 426,391 2,280,166 SH   SOLE   2,280,166 0 0
AUTOMATIC DATA PROCESSING COM 053015103 56,845 249,823 SH   SOLE   249,823 0 0
BECTON DICKINSON AND CO COM 075887109 241,003 906,028 SH   SOLE   906,028 0 0
BOOKING HOLDINGS INC COM 09857L108 15,514 6,606 SH   SOLE   6,606 0 0
CISCO SYSTEMS INC COM 17275R102 36,067 646,827 SH   SOLE   646,827 0 0
CLOROX COMPANY COM 189054109 11,295 81,243 SH   SOLE   81,243 0 0
CME GROUP INC COM 12572Q105 163,873 688,948 SH   SOLE   688,948 0 0
COCA-COLA CO COM 191216100 15,383 248,109 SH   SOLE   248,109 0 0
COLGATE-PALMOLIVE CO COM 194162103 774 10,212 SH   SOLE   10,212 0 0
EBAY INC COM 278642103 2,824 49,318 SH   SOLE   49,318 0 0
FASTENAL CO COM 311900104 28,749 483,998 SH   SOLE   483,998 0 0
FISERV INC COM 337738108 25,354 250,044 SH   SOLE   250,044 0 0
FRANCO-NEVADA CORP (US) COM 351858105 335,963 2,106,086 SH   SOLE   2,106,086 0 0
HERSHEY CO/THE COM 427866108 28,689 132,433 SH   SOLE   132,433 0 0
INTUIT INC COM 461202103 37,059 77,071 SH   SOLE   77,071 0 0
JOHNSON & JOHNSON COM 478160104 43,615 246,092 SH   SOLE   246,092 0 0
MASTERCARD INC - A COM 57636Q104 64,382 180,149 SH   SOLE   180,149 0 0
MCDONALD'S CORP COM 580135101 25,441 102,883 SH   SOLE   102,883 0 0
MEDTRONIC INC COM 585055106 492,709 4,440,817 SH   SOLE   4,440,817 0 0
META PLATFORMS INC COM 30303M102 46,962 211,199 SH   SOLE   211,199 0 0
MICROSOFT CORP COM 594918104 802,746 2,603,698 SH   SOLE   2,603,698 0 0
MOODY'S CORP MCO US COM 615369105 153,409 454,665 SH   SOLE   454,665 0 0
PAYCHEX INC COM 704326107 269,951 1,978,096 SH   SOLE   1,978,096 0 0
PAYPAL HOLDINGS INC COM 70450Y103 28,515 246,562 SH   SOLE   246,562 0 0
PEPSICO INC COM 713448108 53,967 322,425 SH   SOLE   322,425 0 0
PHILIP MORRIS INT COM 718172109 62,057 660,598 SH   SOLE   660,598 0 0
PROCTER & GAMBLE COM 742718109 317,140 2,075,525 SH   SOLE   2,075,525 0 0
S&P GLOBAL INC COM 78409V104 16,144 39,358 SH   SOLE   39,358 0 0
TAKE-TWO INTERACTIVE SOFTWRE COM 874054109 13,687 89,028 SH   SOLE   89,028 0 0
VISA INC-CLASS A SHARES COM 92826C839 677,884 3,056,699 SH   SOLE   3,056,699 0 0
WESTERN UNION CO COM 959802109 16,934 903,614 SH   SOLE   903,614 0 0