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 17,482 59,300 SH   SOLE   59,300 0 0
AGILENT TECHNOLOGIES INC COM 00846U101 288,616 1,952,620 SH   SOLE   1,952,620 0 0
ALPHABET INC-CL A COM 02079K305 667,076 273,191 SH   SOLE   273,191 0 0
AMERICAN EXPRESS CO COM 025816109 387,928 2,347,801 SH   SOLE   2,347,801 0 0
AUTOMATIC DATA PROCESSING COM 053015103 44,590 224,500 SH   SOLE   224,500 0 0
BECTON DICKINSON AND CO COM 075887109 216,968 892,178 SH   SOLE   892,178 0 0
BERKSHIRE HATHAWAY-A SHS COM 084670108 226,464 541 SH   SOLE   541 0 0
BOOKING HOLDINGS INC COM 09857L108 19,180 8,766 SH   SOLE   8,766 0 0
CISCO SYSTEMS INC COM 17275R102 32,096 605,600 SH   SOLE   605,600 0 0
CLOROX COMPANY CLX US COM 189054109 13,440 74,700 SH   SOLE   74,700 0 0
CME GROUP INC COM 12572Q105 85,126 400,256 SH   SOLE   400,256 0 0
COCA-COLA CO COM 191216100 12,066 223,000 SH   SOLE   223,000 0 0
COLGATE-PALMOLIVE CO COM 194162103 10,386 127,678 SH   SOLE   127,678 0 0
EBAY INC COM 278642103 14,034 199,878 SH   SOLE   199,878 0 0
FACEBOOK INC-A COM 30303M102 56,360 162,091 SH   SOLE   162,091 0 0
FASTENAL CO COM 311900104 22,620 435,000 SH   SOLE   435,000 0 0
FISERV INC COM 337738108 26,728 250,044 SH   SOLE   250,044 0 0
FRANCO-NEVADA CORP (US) COM 351858105 292,792 2,018,276 SH   SOLE   2,018,276 0 0
HERSHEY CO/THE COM 427866108 22,296 128,000 SH   SOLE   128,000 0 0
INTUIT INC COM 461202103 41,732 85,139 SH   SOLE   85,139 0 0
JOHNSON & JOHNSON COM 478160104 36,408 221,000 SH   SOLE   221,000 0 0
MASTERCARD INC - A COM 57636Q104 37,362 102,334 SH   SOLE   102,334 0 0
MCDONALD'S CORP COM 580135101 20,766 89,900 SH   SOLE   89,900 0 0
MEDTRONIC INC COM 585055106 562,516 4,531,672 SH   SOLE   4,531,672 0 0
MICROSOFT CORP COM 594918104 794,036 2,931,104 SH   SOLE   2,931,104 0 0
MOODY'S CORP MCO US COM 615369105 80,364 221,776 SH   SOLE   221,776 0 0
PAYCHEX INC COM 704326107 248,858 2,319,264 SH   SOLE   2,319,264 0 0
PAYPAL HOLDINGS INC COM 70450Y103 57,896 198,627 SH   SOLE   198,627 0 0
PEPSICO INC COM 713448108 42,570 287,300 SH   SOLE   287,300 0 0
PHILIP MORRIS INT COM 718172109 459,436 4,635,607 SH   SOLE   4,635,607 0 0
PROCTER & GAMBLE COM 742718109 336,654 2,495,023 SH   SOLE   2,495,023 0 0
S&P GLOBAL INC COM 78409V104 16,154 39,358 SH   SOLE   39,358 0 0
TAKE-TWO INTERACTIVE SOFTWRE COM 874054109 7,302 41,250 SH   SOLE   41,250 0 0
VISA INC-CLASS A SHARES COM 92826C839 593,596 2,538,692 SH   SOLE   2,538,692 0 0
WESTERN UNION CO COM 959802109 18,628 811,000 SH   SOLE   811,000 0 0