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
ALPHABET 'A' CAP STK CL A 02079K305 9,434 11,733 SH   SOLE NONE 11,733 0 0
ALPHABET 'C' CAP STK CL C 02079K107 10,118 13,017 SH   SOLE NONE 13,017 0 0
ALTRIA GROUP Com 02209S103 1,214 19,200 SH   SOLE NONE 19,200 0 0
APPLE Com 037833100 237 2,100 SH   SOLE NONE 2,100 0 0
ABERCROMBIE & FITCH 'A' CL A 002896207 2 110 SH   SOLE NONE 110 0 0
BERKSHIRE HATHAWAY 'B' B Class 084670702 18,862 130,560 SH   SOLE NONE 130,560 0 0
BP -ADR SPONS.- Com 055622104 2,166 61,610 SH   SOLE NONE 61,610 0 0
CHICAGO BRIDGE & IRON -NY REG.- Com 167250109 112 4,000 SH   SOLE NONE 4,000 0 0
CHUBB LIMITED Com H1467J104 14 108 SH   SOLE NONE 108 0 0
CISCO SYSTEMS Com 17275R102 317 10,000 SH   SOLE NONE 10,000 0 0
COACH Com 189754104 219 6,000 SH   SOLE NONE 6,000 0 0
COCA-COLA Com 191216100 374 8,830 SH   SOLE NONE 8,830 0 0
COGNIZANT TECHNOLOGY SOLUTIONS'A' CL A 192446102 11,939 250,250 SH   SOLE NONE 250,250 0 0
COMCAST 'A' CL A 20030N101 16,646 250,920 SH   SOLE NONE 250,920 0 0
CORNING Com 219350105 177 7,500 SH   SOLE NONE 7,500 0 0
CVS HEALTH Com 126650100 15,206 170,874 SH   SOLE NONE 170,874 0 0
DOLBY LABORATORIES 'A' Com 25659T107 271 5,000 SH   SOLE NONE 5,000 0 0
DU PONT DE NEMOURS Com 263534109 167 2,500 SH   SOLE NONE 2,500 0 0
EXXON MOBIL Com 30231G102 1,529 17,515 SH   SOLE NONE 17,515 0 0
FLUOR Com 343412102 128 2,500 SH   SOLE NONE 2,500 0 0
FRANCO-NEVADA Com 351858105 9,439 102,974 SH   SOLE NONE 102,974 0 0
GENERAL ELECTRIC Com 369604103 789 26,650 SH   SOLE NONE 26,650 0 0
GENERAL MILLS Com 370334104 443 6,930 SH   SOLE NONE 6,930 0 0
GNC HOLDINGS 'A' Com CL A 36191G107 102 5,000 SH   SOLE NONE 5,000 0 0
HONEYWELL INTERNATIONAL Com 438516106 1,837 15,755 SH   SOLE NONE 15,755 0 0
INTERNATIONAL BUSINESS MACHINES Com 459200101 166 1,045 SH   SOLE NONE 1,045 0 0
INTEL Com 458140100 457 12,100 SH   SOLE NONE 12,100 0 0
JOHNSON & JOHNSON Com 478160104 338 2,860 SH   SOLE NONE 2,860 0 0
JPMORGAN CHASE Com 46625H100 202 3,030 SH   SOLE NONE 3,030 0 0
LEUCADIA NATIONAL Com 527288104 190 10,000 SH   SOLE NONE 10,000 0 0
LINEAR TECHNOLOGY CORP Com 535678106 237 4,000 SH   SOLE NONE 4,000 0 0
LABORATORY CORP OF Com 50540R409 102 740 SH   SOLE NONE 740 0 0
LOEWS Com 540424108 206 5,000 SH   SOLE NONE 5,000 0 0
MASTERCARD 'A' CL A 57636Q104 13,120 128,922 SH   SOLE NONE 128,922 0 0
MERCK & CO Com 58933Y105 441 7,070 SH   SOLE NONE 7,070 0 0
MICROSOFT Com 594918104 20,179 350,338 SH   SOLE NONE 350,338 0 0
MOODY'S COM 615369105 5,323 49,155 SH   SOLE NONE 49,155 0 0
NORTHERN TRUST Com 665859104 748 11,000 SH   SOLE NONE 11,000 0 0
ORACLE Com 68389X105 12,778 325,312 SH   SOLE NONE 325,312 0 0
PEPSICO Com 713448108 370 3,400 SH   SOLE NONE 3,400 0 0
PFIZER Com 717081103 139 4,100 SH   SOLE NONE 4,100 0 0
PHILIP MORRIS INTL Com 718172109 2,792 28,720 SH   SOLE NONE 28,720 0 0
PROCTER & GAMBLE Com 742718109 630 7,025 SH   SOLE NONE 7,025 0 0
SCHLUMBERGER Com 806857108 12,759 162,243 SH   SOLE NONE 162,243 0 0
TAIWAN SEMICONDUCTOR -ADR SPONS.- ADR 874039100 16,118 526,912 SH   SOLE NONE 526,912 0 0
UNITEDHEALTH GROUP Com 91324P102 15,999 114,278 SH   SOLE NONE 114,278 0 0
UNITED PARCEL SERVICE 'B' B Class 911312106 981 8,970 SH   SOLE NONE 8,970 0 0
VARIAN MEDICAL SYSTEMS Com 92220P105 89 890 SH   SOLE NONE 890 0 0
VERIZON COMMUNICATIONS Com 92343V104 7 145 SH   SOLE NONE 145 0 0
WATERS Com 941848103 197 1,245 SH   SOLE NONE 1,245 0 0
WELLS FARGO Com 949746101 208 4,695 SH   SOLE NONE 4,695 0 0