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

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COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
ALLEGHANY CORP DELCOM017175100294703SH SOLE 5530150
AMERICAN ELEC PWR INCCOM0255371013977,600SH SOLE 5,68001,920
AMERISOURCEBERGEN CORPCOM03073E1051,66021,470SH SOLE 15,89005,580
APACHE CORPCOM03741110552,643560,812SH SOLE 464,265096,547
AT&T INCCOM00206R10249313,980SH SOLE 1,700012,280
BANK NEW YORK MELLON CORPCOM06405810037,838976,968SH SOLE 833,6710143,297
BECTON DICKINSON & COCOM07588710933,444293,861SH SOLE 238,138055,723
BERKLEY W R CORPCOM0844231024731,399,138SH SOLE 1,202,4020196,736
CAMPBELL SOUP COCOM1344291093427,999SH SOLE 6,49401,505
CENTRAL GOLDTRUSTTR UNIT15354610643410,480SH SOLE 10,2900190
CHECK POINT SOFTWARE TECH LTORDM2246510430,182435,908SH SOLE 366,256069,652
CLOROX CO DELCOM1890541094,95451,580SH SOLE 43,60007,980
COCA COLA COCOM19121610058313,675SH SOLE 10,21003,465
DUKE ENERGY CORP NEWCOM NEW26441C2042703,608SH SOLE 2,36301,245
ENBRIDGE INCCOM29250N10544,145921,998SH SOLE 826,795095,203
EXPEDITORS INTL WASH INCCOM30213010944,2081,089,405SH SOLE 930,4620158,943
EXPRESS SCRIPTS HLDG COCOM30219G10880,2571,136,301SH SOLE 952,9220183,379
EXXON MOBIL CORPCOM30231G1024815,115SH SOLE 3,94501,170
FRANCO NEVADA CORPCOM35185810539,167801,295SH SOLE 670,8870130,408
ITC HLDGS CORPCOM4656851052,13459,895SH SOLE 49,415010,480
JOHNSON & JOHNSONCOM4781601043843,598SH SOLE 2,9530645
LIBERTY MEDIA CORP DELAWARECL A5312291026,535138,515SH SOLE 116,515022,000
MATTEL INCCOM57708110230910,075SH SOLE 6,92503,150
MCCORMICK & CO INCCOM NON VTG57978020617,227257,508SH SOLE 193,588063,920
MCDONALDS CORPCOM5801351017648,060SH SOLE 3,90004,160
MEDTRONIC INCCOM58505510630,880498,459SH SOLE 444,758053,701
MICROSOFT CORPCOM59491810461,1651,319,347SH SOLE 1,107,1550212,192
NEWMONT MINING CORPCOM65163910651622,385SH SOLE 16,67005,715
NORFOLK SOUTHERN CORPCOM6558441083112,790SH SOLE 2,0200770
NOVARTIS A GSPONSORED ADR66987V1095345,669SH SOLE 5,1470522
PAYCHEX INCCOM7043261072084,710SH SOLE 4,3350375
PEPSICO INCCOM7134481085435,835SH SOLE 4,46001,375
PHILIP MORRIS INTL INCCOM71817210951,507617,592SH SOLE 514,7210102,871
PRAXAIR INCCOM74005P10427,833215,757SH SOLE 182,529033,228
PROCTER & GAMBLE COCOM7427181096798,111SH SOLE 6,49101,620
PUBLIC SVC ENTERPRISE GROUPCOM7445731063709,925SH SOLE 8,19001,735
RAYONIER ADVANCED MATLS INCCOM75508B10429,753904,081SH SOLE 761,8930142,188
ROGERS COMMUNICATIONS INCCL B7751092003368,990SH SOLE 6,90502,085
ROYAL GOLD INCCOM78028710842,357652,250SH SOLE 537,2730114,977
SANOFISPONSORED ADR80105N10530,296536,869SH SOLE 451,725085,144
SILVER WHEATON CORPCOM8283361071,37869,125SH SOLE 65,02504,100
SOUTHERN COCOM8425871074099,365SH SOLE 6,67002,695
SPECTRA ENERGY CORPCOM84756010962,0041,579,305SH SOLE 1,290,7210288,584
SYSCO CORPCOM87182910757,6061,517,944SH SOLE 1,284,8690233,075
TARGET CORPCOM87612E1063515,600SH SOLE 99004,610
TJX COS INC NEWCOM8725401093856,510SH SOLE 1,14505,365
TRANSCANADA CORPCOM89353D10751710,025SH SOLE 7,60002,425
UNILEVER PLCSPON ADR NEW90476770443410,360SH SOLE 8,17502,185
VANGUARD MALVERN FDSSTRM INFPROIDX9220208053236,550SH SOLE 6,4100140
WESTERN UN COCOM95980210966,87929,490SH SOLE 22,33507,155
YAMANA GOLD INCCOM98462Y10033155,245SH SOLE 40,800014,445