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
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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
3M Company COM 88579Y101   1,098 8,504 SH   SOLE   8,504 0 0
AZZ Incorporated COM 002474104   336 4,100 SH   SOLE   4,100 0 0
AbbVie Inc. COM 00287Y109   6,212 34,960 SH   SOLE   34,960 0 0
Allstate Corporation COM 020002101   434 2,250 SH   SOLE   2,250 0 0
Alphabet Cl C COM 02079K305   462 2,425 SH   SOLE   2,425 0 0
Amazon.com COM 023135106   1,247 5,685 SH   SOLE   5,685 0 0
Apple Inc. COM 037833100   651 2,600 SH   SOLE   2,600 0 0
AutoZone, Inc. COM 053332102   1,329 415 SH   SOLE   415 0 0
Berkshire Hathaway COM 084670108   6,128 9 SH   SOLE   9 0 0
Berkshire Hathaway Cl B COM 084670702   7,509 16,565 SH   SOLE   16,565 0 0
Bristol-Myers Squibb Company COM 110122108   728 12,880 SH   SOLE   12,880 0 0
CVS Health Corp COM 126650100   1,807 40,260 SH   SOLE   40,260 0 0
Caterpillar COM 149123101   354 975 SH   SOLE   975 0 0
Cheniere Energy, Inc. COM 16411R208   7,713 35,895 SH   SOLE   35,895 0 0
Chevron Corp COM 166764100   315 2,175 SH   SOLE   2,175 0 0
Chord Energy Corp COM 674215207   2,630 22,495 SH   SOLE   22,495 0 0
Columbia Sportswear COM 198516106   294 3,500 SH   SOLE   3,500 0 0
ConocoPhillips Company COM 718507BK1   5,811 58,595 SH   SOLE   58,595 0 0
Costco Wholesale COM 22160K105   302 330 SH   SOLE   330 0 0
Coterra Energy Inc. COM 127097103   6,468 253,239 SH   SOLE   253,239 0 0
Diamondback Energy Inc COM 25278X109   1,860 11,355 SH   SOLE   11,355 0 0
Dollar General Corporation COM 256677105   5,306 69,975 SH   SOLE   69,975 0 0
EOG Resources, Inc. COM 26875P101   5,003 40,815 SH   SOLE   40,815 0 0
FRMO Corporation COM 30262F205   945 96,771 SH   SOLE   96,771 0 0
Intel Corp COM 458140100   1,071 53,410 SH   SOLE   53,410 0 0
International Business Machine COM 459200101   12,280 55,863 SH   SOLE   55,863 0 0
Johnson & Johnson COM 478160104   7,601 52,555 SH   SOLE   52,555 0 0
Keweenaw Land Association COM 493026108   421 12,031 SH   SOLE   12,031 0 0
Merck & Co. COM 58933Y105   744 7,475 SH   SOLE   7,475 0 0
Mesabi Trust Ctfs COM 590672101   12,125 431,356 SH   SOLE   431,356 0 0
Mettler-Toledo Int'l Inc. COM 592688105   1,377 1,125 SH   SOLE   1,125 0 0
Mexco Energy COM 592770101   113 10,033 SH   SOLE   10,033 0 0
Microsoft Corp COM 594918104   327 775 SH   SOLE   775 0 0
Oracle Corp COM 68389X105   4,551 27,310 SH   SOLE   27,310 0 0
Organon & Co. COM 68622V106   6,450 432,300 SH   SOLE   432,300 0 0
Pfizer, Inc COM 717081103   4,308 162,379 SH   SOLE   162,379 0 0
Texas Pacific Land Corporation COM 882610108   27,209 24,602 SH   SOLE   24,602 0 0
Timken Company COM 887389104   277 3,875 SH   SOLE   3,875 0 0
Viatris COM 92556V106   3,498 280,929 SH   SOLE   280,929 0 0
Bristol-Myers Squibb Contingen RTS 110122157   0 553,789 SH   SOLE   553,789 0 0
Surface Oncology Inc. RTS 868cvr010   21 20,000 SH   SOLE   20,000 0 0
ABB Ltd ADR 000375204   7,345 136,760 SH   SOLE   136,760 0 0
Accelleron Industries AG ORD ADR H0029X106   2,771 52,585 SH   SOLE   52,585 0 0
Autoliv, Inc. ADR 052800109   8,533 90,980 SH   SOLE   90,980 0 0
Banco Latinoamericano de Expor ADR P16994132   13,878 390,161 SH   SOLE   390,161 0 0
Franco-Nevada Coporation ADR 351858105   6,800 57,832 SH   SOLE   57,832 0 0
Investor AB 'B' ORD W48102128   13,457 511,094 SH   SOLE   511,094 0 0
Nestle S.A. ADR 641069406   5,364 65,658 SH   SOLE   65,658 0 0
Novartis AG ADR 66987V109   447 4,590 SH   SOLE   4,590 0 0
Pershing Square Holdings ADR G7016V101   893 18,500 SH   SOLE   18,500 0 0
Pilot Corporation ORD J6378K106   4,635 149,666 SH   SOLE   149,666 0 0
SKF Aktiebolaget ADR 784375404   3,775 201,102 SH   SOLE   201,102 0 0
Shell plc ADR 780259305   3,884 62,001 SH   SOLE   62,001 0 0
Siemens AG ADR 826197501   7,927 81,995 SH   SOLE   81,995 0 0
Subaru Corporation ADR 86428V104   1,262 140,598 SH   SOLE   140,598 0 0
Triple Flag Precious Metals Co ADR 89679M104   390 25,925 SH   SOLE   25,925 0 0
Wheaton Precious Metals Corp ADR 962879102   5,763 102,468 SH   SOLE   102,468 0 0
Citigroup Cap XIII Tr Pfd PFD 173080201   8,818 294,235 SH   SOLE   294,235 0 0