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   923 9,028 SH   SOLE   9,028 0 0
AZZ Incorporated COM 002474104   317 4,100 SH   SOLE   4,100 0 0
AbbVie Inc. COM 00287Y109   7,632 44,496 SH   SOLE   44,496 0 0
Allstate Corporation COM 020002101   359 2,250 SH   SOLE   2,250 0 0
Alphabet Cl C COM 02079K305   445 2,425 SH   SOLE   2,425 0 0
Amazon.com COM 023135106   1,099 5,685 SH   SOLE   5,685 0 0
Apple Inc. COM 037833100   548 2,600 SH   SOLE   2,600 0 0
AutoZone, Inc. COM 053332102   1,218 411 SH   SOLE   411 0 0
Berkshire Hathaway COM 084670108   5,510 9 SH   SOLE   9 0 0
Berkshire Hathaway Cl B COM 084670702   6,755 16,605 SH   SOLE   16,605 0 0
Bristol-Myers Squibb Company COM 110122108   1,414 34,055 SH   SOLE   34,055 0 0
CVS Health Corp COM 126650100   3,197 54,135 SH   SOLE   54,135 0 0
Caterpillar COM 149123101   350 1,050 SH   SOLE   1,050 0 0
Cheniere Energy, Inc. COM 16411R208   6,405 36,635 SH   SOLE   36,635 0 0
Chevron Corp COM 166764100   317 2,025 SH   SOLE   2,025 0 0
Columbia Sportswear COM 198516106   277 3,500 SH   SOLE   3,500 0 0
ConocoPhillips Company COM 718507BK1   6,782 59,295 SH   SOLE   59,295 0 0
Costco Wholesale COM 22160K105   289 340 SH   SOLE   340 0 0
Coterra Energy Inc. COM 127097103   6,795 254,798 SH   SOLE   254,798 0 0
Diamondback Energy Inc COM 25278X109   2,475 12,365 SH   SOLE   12,365 0 0
Dollar General Corporation COM 256677105   4,433 33,523 SH   SOLE   33,523 0 0
EOG Resources, Inc. COM 26875P101   5,279 41,940 SH   SOLE   41,940 0 0
FRMO Corporation COM 30262F205   697 91,256 SH   SOLE   91,256 0 0
Intel Corp COM 458140100   4,399 142,050 SH   SOLE   142,050 0 0
International Business Machine COM 459200101   9,466 54,730 SH   SOLE   54,730 0 0
Johnson & Johnson COM 478160104   7,387 50,540 SH   SOLE   50,540 0 0
Keweenaw Land Association COM 493026108   385 12,817 SH   SOLE   12,817 0 0
Kinder Morgan, Inc. COM 49456B101   759 38,175 SH   SOLE   38,175 0 0
Merck & Co. COM 58933Y105   919 7,420 SH   SOLE   7,420 0 0
Mesabi Trust Ctfs COM 590672101   7,966 462,315 SH   SOLE   462,315 0 0
Mettler-Toledo Int'l Inc. COM 592688105   922 660 SH   SOLE   660 0 0
Microsoft Corp COM 594918104   346 775 SH   SOLE   775 0 0
Olympic Steel COM 68162K106   224 5,000 SH   SOLE   5,000 0 0
Oracle Corp COM 68389X105   4,395 31,127 SH   SOLE   31,127 0 0
Organon & Co. COM 68622V106   4,573 220,900 SH   SOLE   220,900 0 0
Pfizer, Inc COM 717081103   4,711 168,360 SH   SOLE   168,360 0 0
Texas Pacific Land Corporation COM 882610108   23,207 31,605 SH   SOLE   31,605 0 0
Timken Company COM 887389104   311 3,875 SH   SOLE   3,875 0 0
Viatris COM 92556V106   3,568 335,660 SH   SOLE   335,660 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   7,573 136,325 SH   SOLE   136,325 0 0
Accelleron Industries AG ORD ADR H0029X106   2,127 54,290 SH   SOLE   54,290 0 0
Autoliv, Inc. ADR 052800109   7,564 70,699 SH   SOLE   70,699 0 0
Banco Latinoamericano de Expor ADR P16994132   11,386 383,738 SH   SOLE   383,738 0 0
Equinor ASA ADR 109178103   423 14,820 SH   SOLE   14,820 0 0
Franco-Nevada Coporation ADR 351858105   6,767 57,092 SH   SOLE   57,092 0 0
Investor AB 'B' ORD W48102128   14,190 516,013 SH   SOLE   516,013 0 0
Nestle S.A. ADR 641069406   5,994 58,510 SH   SOLE   58,510 0 0
Novartis AG ADR 66987V109   345 3,240 SH   SOLE   3,240 0 0
Pershing Square Holdings ADR G7016V101   971 18,500 SH   SOLE   18,500 0 0
Pilot Corporation ORD J6378K106   3,804 142,903 SH   SOLE   142,903 0 0
SKF Aktiebolaget ADR 784375404   4,066 201,977 SH   SOLE   201,977 0 0
Shell plc ADR 780259305   4,407 61,061 SH   SOLE   61,061 0 0
Siemens AG ADR 826197501   7,660 82,145 SH   SOLE   82,145 0 0
Subaru Corporation ADR 86428V104   895 84,443 SH   SOLE   84,443 0 0
Triple Flag Precious Metals Co ADR 89679M104   402 25,925 SH   SOLE   25,925 0 0
Wheaton Precious Metals Corp ADR 962879102   5,000 95,391 SH   SOLE   95,391 0 0
Citigroup Cap XIII Tr Pfd PFD 173080201   8,022 274,060 SH   SOLE   274,060 0 0