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 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
3M Company COM 88579Y101 593 3,705 SH SOLE 3,705 0 0
AZZ Incorporated COM 002474104 429 4,000 SH SOLE 4,000 0 0
AbbVie Inc. COM 00287Y109 5,878 25,725 SH SOLE 25,725 0 0
Allstate Corporation COM 020002101 468 2,250 SH SOLE 2,250 0 0
Alphabet Cl C COM 02079K305 1,349 4,300 SH SOLE 4,300 0 0
Amazon.com COM 023135106 1,288 5,580 SH SOLE 5,580 0 0
Apple Inc. COM 037833100 693 2,550 SH SOLE 2,550 0 0
AutoZone, Inc. COM 053332102 899 265 SH SOLE 265 0 0
Berkshire Hathaway COM 084670108 6,038 8 SH SOLE 8 0 0
Berkshire Hathaway Cl B COM 084670702 7,910 15,736 SH SOLE 15,736 0 0
Builders FirstSource Inc COM 12008R107 454 4,410 SH SOLE 4,410 0 0
Caterpillar COM 149123101 315 550 SH SOLE 550 0 0
Cheniere Energy, Inc. COM 16411R208 5,587 28,740 SH SOLE 28,740 0 0
Chevron Corp COM 166764100 390 2,560 SH SOLE 2,560 0 0
Chord Energy Corp COM 674215207 4,870 52,535 SH SOLE 52,535 0 0
ConocoPhillips Company COM 718507BK1 4,529 48,380 SH SOLE 48,380 0 0
Copart Inc COM 217204106 3,703 94,590 SH SOLE 94,590 0 0
Coterra Energy Inc. COM 127097103 5,132 194,974 SH SOLE 194,974 0 0
Diamondback Energy Inc COM 25278X109 5,285 35,155 SH SOLE 35,155 0 0
Dollar General Corporation COM 256677105 15,135 113,995 SH SOLE 113,995 0 0
EOG Resources, Inc. COM 26875P101 3,881 36,960 SH SOLE 36,960 0 0
FRMO Corporation COM 30262F205 706 96,702 SH SOLE 96,702 0 0
International Business Machine COM 459200101 13,563 45,790 SH SOLE 45,790 0 0
Johnson & Johnson COM 478160104 10,022 48,425 SH SOLE 48,425 0 0
Merck & Co. COM 58933Y105 616 5,850 SH SOLE 5,850 0 0
Mesabi Trust Ctfs COM 590672101 13,587 352,805 SH SOLE 352,805 0 0
Mettler-Toledo Int'l Inc. COM 592688105 3,272 2,347 SH SOLE 2,347 0 0
Mexco Energy COM 592770101 617 62,295 SH SOLE 62,295 0 0
Microsoft Corp COM 594918104 382 790 SH SOLE 790 0 0
Olympic Steel COM 68162K106 214 5,000 SH SOLE 5,000 0 0
Oracle Corp COM 68389X105 480 2,465 SH SOLE 2,465 0 0
Organon & Co. COM 68622V106 4,780 666,725 SH SOLE 666,725 0 0
Pfizer, Inc COM 717081103 467 18,770 SH SOLE 18,770 0 0
Texas Pacific Land Corporation COM 882610108 19,600 68,241 SH SOLE 68,241 0 0
Timken Company COM 887389104 326 3,875 SH SOLE 3,875 0 0
Viatris COM 92556V106 318 25,570 SH SOLE 25,570 0 0
Bristol-Myers Squibb Contingen RTS 110122157 0 505,289 SH SOLE 505,289 0 0
Surface Oncology Inc. RTS 868cvr010 21 20,000 SH SOLE 20,000 0 0
ABB Ltd ADR 000375204 9,233 124,815 SH SOLE 124,815 0 0
Accelleron Industries AG ORD ADR H0029X106 3,655 47,473 SH SOLE 47,473 0 0
Autoliv, Inc. ADR 052800109 10,542 88,810 SH SOLE 88,810 0 0
Banco Latinoamericano de Expor ADR P16994132 13,118 294,135 SH SOLE 294,135 0 0
Franco-Nevada Coporation ADR 351858105 10,628 51,272 SH SOLE 51,272 0 0
Investor AB 'B' ORD W48102128 16,288 459,474 SH SOLE 459,474 0 0
Nestle S.A. ADR 641069406 7,250 73,394 SH SOLE 73,394 0 0
Novartis AG ADR 66987V109 681 4,940 SH SOLE 4,940 0 0
Pershing Square Holdings ADR G7016V101 663 10,175 SH SOLE 10,175 0 0
Pilot Corporation ORD J6378K106 4,513 145,306 SH SOLE 145,306 0 0
SKF Aktiebolaget ADR 784375404 4,356 164,511 SH SOLE 164,511 0 0
Shell plc ADR 780259305 4,194 57,076 SH SOLE 57,076 0 0
Siemens AG ADR 826197501 10,014 71,555 SH SOLE 71,555 0 0
Subaru Corporation ADR 86428V104 6,257 583,121 SH SOLE 583,121 0 0
Triple Flag Precious Metals Co ADR 89679M104 357 10,750 SH SOLE 10,750 0 0
Wheaton Precious Metals Corp ADR 962879102 10,570 89,943 SH SOLE 89,943 0 0
Citigroup Cap XIII Tr Pfd PFD 173080201 8,742 289,455 SH SOLE 289,455 0 0