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 2,525 16,500 SH   SOLE   16,500 0 0
ALPHABET INC-CL A COM 02079K305 22,442 21,305 SH   SOLE   21,305 0 0
ALTRIA GROUP INC COM 02209S103 258,761 3,623,600 SH   SOLE   3,623,600 0 0
AMERICAN EXPRESS CO COM 025816109 156,317 1,574,037 SH   SOLE   1,574,037 0 0
BECTON DICKINSON AND CO COM 075887109 125,760 587,500 SH   SOLE   587,500 0 0
BERKSHIRE HATHAWAY-A SHS COM 084670108 148,204 498 SH   SOLE   498 0 0
CISCO SYSTEMS INC COM 17275R102 4,490 117,250 SH   SOLE   117,250 0 0
COCA-COLA CO COM 191216100 265,709 5,791,409 SH   SOLE   5,791,409 0 0
COLGATE-PALMOLIVE CO COM 194162103 109,244 1,447,900 SH   SOLE   1,447,900 0 0
DR PEPPER SNAPPLE GROUP INC COM 26138E109 148,016 1,525,000 SH   SOLE   1,525,000 0 0
EBAY INC COM 278642103 21,856 579,126 SH   SOLE   579,126 0 0
EMERSON ELECTRIC CO COM 291011104 2,892 41,500 SH   SOLE   41,500 0 0
EVERSOURCE ENERGY COM 30040W108 3,506 55,500 SH   SOLE   55,500 0 0
EXXON MOBIL CORP COM 30231G102 669 8,000 SH   SOLE   8,000 0 0
FISERV INC COM 337738108 14,857 113,300 SH   SOLE   113,300 0 0
FRANCO-NEVADA CORP (US) COM 351858105 63,681 796,521 SH   SOLE   796,521 0 0
GENERAL ELECTRIC CO COM 369604103 9 560 SH   SOLE   560 0 0
HERSHEY CO/THE COM 427866108 89,549 788,910 SH   SOLE   788,910 0 0
INTUIT INC COM 461202103 10,255 65,000 SH   SOLE   65,000 0 0
JOHNSON & JOHNSON COM 478160104 21,460 153,600 SH   SOLE   153,600 0 0
KRAFT HEINZ CO COM 500754106 44 576 SH   SOLE   576 0 0
L BRANDS INC COM 501797104 3,733 62,000 SH   SOLE   62,000 0 0
MCDONALD'S CORP COM 580135101 3,597 20,900 SH   SOLE   20,900 0 0
MEDTRONIC INC COM G5960L103 20,650 255,732 SH   SOLE   255,732 0 0
MICROSOFT CORP COM 594918104 287,646 3,362,719 SH   SOLE   3,362,719 0 0
MONDELEZ INTERNATIONAL INC-A COM 609207105 74 1,730 SH   SOLE   1,730 0 0
NEWS CORP-CL A COM 65249B109 1,073 66,212 SH   SOLE   66,212 0 0
PAYCHEX INC COM 704326107 4,649 68,300 SH   SOLE   68,300 0 0
PAYPAL HOLDINGS INC COM 70450Y103 21,775 295,776 SH   SOLE   295,776 0 0
PEPSICO INC COM 713448108 8,559 71,374 SH   SOLE   71,374 0 0
PFIZER INC COM 717081103 1,195 33,000 SH   SOLE   33,000 0 0
PHILIP MORRIS INT COM 718172109 231,932 2,195,294 SH   SOLE   2,195,294 0 0
PRICELINE GROUP INC COM 741503403 3,127 1,800 SH   SOLE   1,800 0 0
PROCTER & GAMBLE COM 742718109 129,936 1,414,200 SH   SOLE   1,414,200 0 0
SYSCO CORP COM 871829107 1,518 25,000 SH   SOLE   25,000 0 0
THOMSON REUTERS CORP COM 884903105 5,025 91,725 SH   SOLE   91,725 0 0
TWENTY-FIRST CENTURY FOX-A COM 90130A101 7,764 224,850 SH   SOLE   224,850 0 0
UNITED TECHNOLOGIES CORP COM 913017109 1,530 12,000 SH   SOLE   12,000 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 57,313 1,082,813 SH   SOLE   1,082,813 0 0
VISA INC-CLASS A SHARES COM 92826C839 11,011 96,577 SH   SOLE   96,577 0 0
WELLS FARGO & CO COM 949746101 147,397 2,429,500 SH   SOLE   2,429,500 0 0
WESTERN UNION CO COM 959802109 2,566 135,000 SH   SOLE   135,000 0 0
WHITE MOUNTAINS INSURANCE GP COM G9618E107 566 665 SH   SOLE   665 0 0